Summer is right around the corner, and it’s time to take advantage of these sizzling hot offers. fizkes / Shutterstock.com
Summer is right around the corner, bringing warmer weather and fabulous freebies. From free doughnuts and fishing to a gratis gym membership for teens, we’ve rounded up some of June’s hottest offers. We hope these can’t-miss deals help you turn your summer season into savings seasons. And for even more options, head on over to Money Talks News’ freebies page.
Buying new construction? Read on to see what features you might have to pay for yourself.
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There’s a reason so many people are drawn to newly constructed homes. There’s something to be said about moving into a home in top condition and knowing you’re the first person to live there. And also, depending on when you buy new construction, you might get an opportunity to put your own stamp on your home.
That option was available to me and my husband when we bought our new construction home about 14 years ago. When we signed the contract to purchase our home, we knew it would mean taking on a more expensive mortgage. But we also knew we’d get to customize everything from our kitchen flooring to our bathroom countertops.
But one thing we didn’t bargain for in the course of buying new construction was having to shell out money for certain fixtures and features that weren’t included in our home’s purchase price. And that dealt our finances a blow and forced us to dip into our savings account more than we wanted to.
If you’re looking to buy a new construction home this year, you may be aware that it could cost more than a home that’s already been lived in. In fact, in March of 2023, the median sale price of a new construction home was $449,800. But you should also gear up to spend extra money on things that aren’t included in the purchase price of your home, like these specific items.
The home my husband and I bought came with lots of windows. That, in fact, was one of the reasons we chose our home — we loved all the natural light that came in.
What we didn’t love was learning that window treatments were not included in our home contract, so we had to spend a few thousand dollars on them once we moved in. (We also, incidentally, had zero privacy the first few days in our home and had to change our clothing strategically so that our neighbors wouldn’t get to know us too well.)
The cost of window treatments can vary significantly based on the type you choose. For example, motorized shades might cost about three times as much as regular ones, says Angi. And clearly, the more windows you have in your home, the more you’re apt to spend. If window treatments aren’t included in the purchase price of your home, get estimates so you know what you’re dealing with.
When you use the toilet, you expect to have reasonable access to this thing called toilet paper. And when you shower, it’s natural to want a towel as soon as you’re done so you can dry off.
It was therefore downright shocking for me and my husband to learn that our purchase contract did not include bathroom fixtures like toilet paper holders and towel hooks or bars. These items weren’t particularly expensive individually. But when you have multiple bathrooms, they can add up.
Of course, your costs will vary depending on the items you choose. A towel hook can be under $20 or more than $25 at Home Depot, for example. The point, however, is to budget for these very basic and necessary items in case your builder doesn’t provide them.
Also keep in mind that some of the bathroom fixtures your builder provides may not suit your taste. In our case, we had to spend a few hundred dollars on mirrors for each bathroom to replace the awful ones our builder gave us that looked like they were lifted from a 1970s nightclub bathroom.
The home we bought features numerous closets, from the walk-in one in our master bedroom to the pantry in our kitchen. But one thing that didn’t come with those closets was ample shelving.
In some cases, our builders stuck a single shelf in there when there was clearly room for two, three, or more. We had to go out to Home Depot and buy and install more shelving ourselves.
Now the amount you’ll spend on shelving will depend on the type and size. You might spend as little as $20 or a lot more per shelf — it just depends on what you need. I remember spending a few hundred dollars, but to be fair, it was 14 years ago, and prices have clearly gone up since then. You could easily end up spending close to $1,000 on shelving if you need a lot of it and want higher-end shelves.
Buying a new construction home is hardly an inexpensive prospect these days — especially now that mortgage rates are higher. So if you’re going this route, make sure to read the details of your contract carefully so you understand what additional items you’ll be on the hook for financially.
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Right now, there are many great opportunities to invest $1,000 for your future. Read on to learn the top seven ways.
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If you have $1,000 to invest, you’re in luck — having a grand in cash can open you up to many great opportunities for growing it into something more. This is especially important at a time when inflation threatens to devalue the power of your dollars, shrinking that $1,000 into a few dollars less. With that in mind, the following seven ideas are some smart ways to invest $1,000 for your future.
Credit cards, personal loans, and other debts with high APRs can drag down your income. You might even pay more interest on credit card debt in a year than what you could have earned on other investments. Use that $1,000 to pay down what you’ve borrowed, freeing up your money for other financial goals.
The S&P 500 (otherwise known as the Standard & Poor’s 500) is a stock index that tracks the 500 largest companies in the U.S. Investing in an S&P 500 index can be a great way to diversify your $1,000 without requiring you to hand pick your own stocks.
Retirement plans, like 401(k)s and IRAs, can help you save for your golden years with tax advantages. Money invested in a traditional 401(k) and IRA will grow tax free, meaning you won’t have to worry about paying taxes on investment gains until you withdraw money in retirement. And if your employer offers a match on 401(k) contributions, don’t hesitate — take the match. You can potentially turn that $1,000 into a greater lump sum to invest.
Stocks can offer immense long-term potential for your $1,000. Many brokers also let you buy fractional shares, which could help you invest a small amount in numerous companies. This gives you the option of diversifying your portfolio and exposing your $1,000 to different market sectors and industries. No-fee brokers are probably the best way to get started, as you won’t have to pay trading commission on your $1,000.
Robo-advisors automate the investing process for you. They’ll assess your risk tolerance and time horizon (that is, how long you expect to invest), then create an investment portfolio best fitted for your $1,000. Some will even rebalance your portfolio or use advanced strategies — like tax-loss harvesting — to maximize your returns.
Current rates on certificates of deposit (CDs) are nothing to ignore. In May, CD rates hovered between 4% and 5%, having gotten a major boost from the Fed’s interest hiking campaign. Locking your $1,000 into a short-term CD could produce some significant returns, but beware the consequences: You’ll have to keep your money locked up for the term of your CD, or risk forfeiting a portion of your interest.
If locking $1,000 in a CD is too restrictive you could also open a high-yield savings account. These accounts have higher interest rates than average savings accounts and allow six penalty-free withdrawals per month, for more convenient access to your money.
Paying down debt or investing $1,000 in one or several of these investments can have amazing consequences for your financial future. Bear in mind, however, that stocks, ETFs, and index funds may have short-term market risks, so it’s important to select these wisely and for the long run. More importantly, keep investing in your future, as you’ll likely build wealth by consistently setting money aside rather than “hitting it big” on one investment.
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The Federal Reserve is releasing FedNow for Americans as soon as July 2023. Perks include instant transfers and deposits. Read on for details.
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The days of waiting three business days for your paycheck may be coming to a swift end. The Federal Reserve has plans to roll out a fast-banking service, an upgrade to the current payment system. It’s called FedNow, and it’s pretty cool.
In a nutshell, FedNow could lead to the following:
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Instant paychecksInstant peer-to-peer bank transfers24/7 payments year-round, including weekends and holidays
There’s little downside, though the government may have to fight through technical challenges to get FedNow up and running. Banking customers don’t have to do anything to benefit from the upgrade, and some financial apps already offer these features.
Small bank and credit union customers may benefit the most. Here’s how.
Peer-to-peer app users are familiar with instant payments. With Venmo, sending $10 to a friend is only two clicks away, but banking isn’t always that easy. Some banks require two to three business days to process deposits, and most banks don’t operate on holidays or weekends.
FedNow aims to change that. Financial institutions that opt into the service can take advantage of instant payments. That means you get payments immediately, 24/7, 365 days a year.
For example, a DoorDash driver might receive a bank payment instantly upon completing a delivery. Nonprofit organizations could immediately receive donations in a crisis or during a holiday, and businesses could send time-sensitive payments to suppliers during weekends.
Banking customers may also benefit from cheaper fees. According to the Federal Reserve, the expected per-transfer fee of FedNow would be $0.045, about five times cheaper than Venmo, which charges at least $0.25 per instant deposit.
FedNow may cheapen the cost of transfers, which banks typically absorb into their existing fee structure. Banks who opt into FedNow could pass on those savings to customers.
The service will only be directly available to financial institutions. If your bank opts into the program, you will automatically benefit from faster transfers. Individuals don’t need to take a course or contact their financial institution to make use of FedNow perks.
It’s worth noting that FedNow may take time to ramp up. Users will be limited to sending money to institutions that opt into FedNow. The more institutions that participate, the more useful the service will be. The program may take months or even years to get rolling.
Despite all these benefits and upsides, challenges exist. For one thing, the system is mostly untested. It’s set to be released in June, but only among a small number of initial adopters. There may be technical challenges in setting up the digital payment rails. Banks will need to opt in to use the program.
In the meantime, we consumers can make do with popular payment apps offering cheap instant transfers and settlements. Venmo, Cash App, and PayPal are some of the biggest free peer-to-peer platforms out there.
Though the usefulness of the government-run service remains unproven, there appear to be few downsides. Most individuals stand to benefit from their bank opting in to FedNow. The program is being advertised as a fast payment method, but the Federal Reserve may add more features to the core service down the road, which is good news for banking customers.
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We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.Cole Tretheway has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends DoorDash and PayPal. The Motley Fool recommends the following options: short June 2023 $67.50 puts on PayPal. The Motley Fool has a disclosure policy.
It’s important to gear up for hurricanes. Read on to see how.
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When Hurricane Ian struck Florida in September 2022, homeowners felt the pain afterward. In fact, as of late November, over 358,000 homeowners had filed insurance claims related to the storm, according to the Office of Insurance Regulation (OIR) claims database.
Hurricanes have the potential to cause a world of damage. And unfortunately, in the Atlantic region, the season for them can be lengthy, commonly lasting from June through November.
If you live in an area that’s prone to storm damage, it’s important to take steps to prepare your home. Here are some to put on your list.
Hanging tree limbs can become projectiles when a nasty storm hits. Keeping your trees trimmed could help prevent a world of damage to your home, and the same holds true for removing dead trees, which are more likely to be uprooted if a hurricane rolls through town.
Storm shutters and doors can help secure your home and protect it from the elements. Bob Vila says the average cost of storm shutters is $4,022 per home, though your costs will depend on the number of windows you have. Clearly, that’s a big expense, though it may be offset by a lower rate on your homeowners insurance premiums.
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A storm door might be less expensive since, well, you only need one. Bob Vila says the cost there is $394 on average. And again, if you make this upgrade, it could pay to talk to your homeowners insurance company about a discount.
Roof damage isn’t always obvious, but a great way to protect your home from water damage in the event of a hurricane is to have a secure roof. To that end, inspect your roof (or hire someone to do so) before hurricane season really kicks off. Look for loose shingles and replace missing ones, and check for gaps where water could collect and cause problems.
An emergency kit won’t protect your home from damage if a hurricane strikes. But it might help you fare better in the wake of one.
First of all, if you have a portable generator, do a test run to make sure it still works, and store gas (safely in a gas can) so you have a way to run it. Then, put together the essentials you’ll need to get by without power. You may want to stock up on:
FlashlightsBatteriesCandles and matchesCash, in case credit card readers are down at local stores and you need to go out for suppliesFirst aid itemsBottled waterCanned food
It’s also a good idea to have a waterproof safe at home and use it to store essential documents, like passports.
You might think your current homeowners insurance policy will cover you in the event of a storm. But it’s a good idea to review your coverage to make sure it’s adequate. Different areas of the country have different rules when it comes to securing coverage for hurricanes. Make sure you’re protected from wind and water damage accordingly to avoid unpleasant financial surprises.
This year’s hurricane season could be calmer than last year’s, or even more active. So don’t take chances. Instead, take these important steps to prepare your home and give yourself the peace of mind you deserve.
There are many homeowners insurance companies to choose from. We’ve researched dozens of options and short-listed our favorites here. Looking for a green build discount or easy bundle policies? Want an easy-to-use interface? Read our free expert review and get a quote today.
We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.
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Cryptocurrency has been around for over a decade now, and it has already had its fair share of ups and downs. The cryptocurrency market was hit hard last year, losing over $2 trillion in value since reaching its height in 2021. After the crypto market reached $3 trillion in November 2021, it dropped by close to 75% in just over a year. This decline is a big reason why numerous crypto funds, exchanges, and crypto billionaires like Sam Bankman-Fried went bankrupt.Last year saw some significant coin failures (and an increase over 2021), but nowhere near as many as in 2018, when 751 cryptos failed. Here’s a look at failures from 2013 to 2022, and what we can learn from these changes in the marketplace.
Discover: Best places to buy bitcoinMore: Check out our updated list of best crypto apps including one offer with a $100 crypto bonus
How many cryptocurrencies are there?At this point in time, it’s hard to give an exact number of how many cryptocurrencies exist. With new ones being introduced to the market almost daily, it’s safe to say that the number is constantly changing.According to CoinMarketBase, there are 24,378 as of this writing, to be exact. However, CoinMarketBase only tracks 9,754 of them. Crypto.com tracks 16,303 coins, Investing.com tracks 9,430, and Statista’s data shows there are nearly 9,000. With so many currently out there and new ones popping up every day, it is important to do your research before investing.Why are there so many cryptocurrencies?One of the primary reasons is the growing simplicity of creating new cryptos. Smart contract blockchains such as Ethereum and Solana (SOL) offer users the ability to develop decentralized apps (dApps) utilizing digital tokens.In addition, platforms like OpenSea and Rarible are making it possible for those without any coding expertise to create non-fungible tokens (NFTs). With these advancements, cryptocurrencies are opening up new avenues for developers, artists, and investors alike.How many cryptocurrencies have failed?According to CoinKickoff, from 2013 to 2022, there were 2,383 crypto coin failures. The average lifespan of a cryptocurrency is 15 months and older coins are more likely to fail than new ones. Here is the breakdown of each year’s failures. Year Abandoned or No Volume Scam or Other Issues Failed Initial Coin Offerings (ICO) or Short-Lived Joke or No purpose % of Dead Coins Compared to New Coins 2013 9 0 0 0 66.67% 2014 277 20 5 2 76.54% 2015 223 27 1 2 68.42% 2016 152 22 4 5 60.87% 2017 169 71 46 6 57.14% 2018 390 237 112 12 27.62% 2019 203 73 51 2 4.74% 2020 77 19 9 0 1.03% 2021 34 36 2 2 0.59% 2022 50 23 8 2 0.06% Total 1,584 (66.5%) 528 (22.2%) 238 (10%) 33 (1.4%) Data source: CoinKickoff. One of the main reasons why cryptocurrency projects fail is due to the lack of demand for their tokens. Many of these coins were created without a clear use case or utility, which led to low demand and ultimately failure. These coins that were abandoned made up two-thirds of all failures.Unfortunately, the second biggest reason for failure was due to fraudulent or scam projects that deceived investors. These types of projects offer high returns or promise to revolutionize the industry, but in reality, they are just Ponzi schemes. One example of this is OneCoin, which was pitched as an alternative to Bitcoin and claimed to have a market capitalization of 50% of Bitcoin. It turned out to be a scam, and investors lost $4 billion dollars.Is the crypto industry beginning to mature?The cryptocurrency industry has come a long way since its early experimental days, which were characterized by volatility and uncertainty. But a shift has occurred in recent years, as failure rates for launched coins have steadily decreased. From 2013 to 2017, the mortality rate for new crypto coins was above 50%. 2014 saw the highest failure rate for new crypto coins, and of the 793 coins released that year, 76.5% no longer exist.While in terms of numbers 2018 saw the most failures at 751, the proportion of dead coins dropped to 27.62%. This figure fell even further to 4.74% and 1.03% in 2019 and 2020, respectively. The number of crypto coins that failed in 2022 increased to 83 from the 74 that failed the previous year, but the failure rate hit an all-time low of 0.06%.This trend suggests that the crypto sector has become more mature and stable. Investors are also becoming wiser about potential scams. Despite the drop in market cap, as newer projects establish themselves more securely, the crypto industry may be entering a new era where innovation and stability go hand in hand.
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We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has positions in and recommends Bitcoin, Ethereum, and Solana. The Motley Fool has a disclosure policy.
Image source: Getty Images
Cryptocurrency has been around for over a decade now, and it has already had its fair share of ups and downs. The cryptocurrency market was hit hard last year, losing over $2 trillion in value since reaching its height in 2021. After the crypto market reached $3 trillion in November 2021, it dropped by close to 75% in just over a year. This decline is a big reason why numerous crypto funds, exchanges, and crypto billionaires like Sam Bankman-Fried went bankrupt.
Last year saw some significant coin failures (and an increase over 2021), but nowhere near as many as in 2018, when 751 cryptos failed. Here’s a look at failures from 2013 to 2022, and what we can learn from these changes in the marketplace.
Discover: Best places to buy bitcoin
More: Check out our updated list of best crypto apps including one offer with a $100 crypto bonus
At this point in time, it’s hard to give an exact number of how many cryptocurrencies exist. With new ones being introduced to the market almost daily, it’s safe to say that the number is constantly changing.
According to CoinMarketBase, there are 24,378 as of this writing, to be exact. However, CoinMarketBase only tracks 9,754 of them. Crypto.com tracks 16,303 coins, Investing.com tracks 9,430, and Statista’s data shows there are nearly 9,000. With so many currently out there and new ones popping up every day, it is important to do your research before investing.
One of the primary reasons is the growing simplicity of creating new cryptos. Smart contract blockchains such as Ethereum and Solana (SOL) offer users the ability to develop decentralized apps (dApps) utilizing digital tokens.
In addition, platforms like OpenSea and Rarible are making it possible for those without any coding expertise to create non-fungible tokens (NFTs). With these advancements, cryptocurrencies are opening up new avenues for developers, artists, and investors alike.
According to CoinKickoff, from 2013 to 2022, there were 2,383 crypto coin failures. The average lifespan of a cryptocurrency is 15 months and older coins are more likely to fail than new ones. Here is the breakdown of each year’s failures.
One of the main reasons why cryptocurrency projects fail is due to the lack of demand for their tokens. Many of these coins were created without a clear use case or utility, which led to low demand and ultimately failure. These coins that were abandoned made up two-thirds of all failures.
Unfortunately, the second biggest reason for failure was due to fraudulent or scam projects that deceived investors. These types of projects offer high returns or promise to revolutionize the industry, but in reality, they are just Ponzi schemes. One example of this is OneCoin, which was pitched as an alternative to Bitcoin and claimed to have a market capitalization of 50% of Bitcoin. It turned out to be a scam, and investors lost $4 billion dollars.
The cryptocurrency industry has come a long way since its early experimental days, which were characterized by volatility and uncertainty. But a shift has occurred in recent years, as failure rates for launched coins have steadily decreased. From 2013 to 2017, the mortality rate for new crypto coins was above 50%. 2014 saw the highest failure rate for new crypto coins, and of the 793 coins released that year, 76.5% no longer exist.
While in terms of numbers 2018 saw the most failures at 751, the proportion of dead coins dropped to 27.62%. This figure fell even further to 4.74% and 1.03% in 2019 and 2020, respectively. The number of crypto coins that failed in 2022 increased to 83 from the 74 that failed the previous year, but the failure rate hit an all-time low of 0.06%.
This trend suggests that the crypto sector has become more mature and stable. Investors are also becoming wiser about potential scams. Despite the drop in market cap, as newer projects establish themselves more securely, the crypto industry may be entering a new era where innovation and stability go hand in hand.
Our experts vetted the most popular offers to land on the select picks that are worthy of a spot in your wallet. These best-in-class cards pack in rich perks, such as big sign-up bonuses, long 0% intro APR offers, and robust rewards. Get started today with our recommended credit cards.
We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has positions in and recommends Bitcoin, Ethereum, and Solana. The Motley Fool has a disclosure policy.
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