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Saving Money: Why Moving A Parent Into Your Home Isn’t Such A Bad Idea

Do you remember your old family home? The days spent together watching crummy Saturday night TV, many a Christmas morning spent ripping open presents and the family dinners around the large dining room table. The bricks and mortar where you grew up and spent your youth will always evoke the happiest of memories as you reminisce about the past. However, as you venture further into adulthood, you are only too aware that the twilight years are catching up with your parents. Now you have children yourself, you understand the importance of memory making and providing the best home life for your little ones.

While it may seem like an idea that could disrupt the dynamic of family life, there are some clear advantages to moving an elderly parent into your humble abode. Take a look why this might be worth considering.

Finances

Having grandma sell her home to move in with you can revolutionize the family finances. Grandma can contribute to the running of the household including bills, the food shop, and fuel costs. Having sold her home, she will have a tidy nest egg in the bank should her needs warrant extra specialist care that you cannot provide. The great aspect of having an older relative living with you is the rich experience they can provide for your kids. Yes, you can save money on childminding costs, but they can also tell the most wonderful stories and engage your kids with history and the past.

Care

There often comes a point in your life when you will have to decide where your parent should live. Should they come and live with you or should you locate a care home for them to reside? If they remain within your four walls, you will have to balance the pros and cons of having another body within the home. Do you have enough space? Can you ensure that they get the care they need? If the answer to these questions is ‘yes’, then you may find that you can generate a new and better family dynamic within the home.

You may have concerns about physical abuse in a nursing home which may lead you to feeling wary about suggesting such a place to your mom or dad. However, with careful vetting and visits to any potential nursing home, you should get a feel for the ethos and atmosphere of the place. It’s vital that your parent is comfortable should they be moving to a residence away from their closest family. If they need round the clock medical care, you may not be able to provide it.

Pooling Resources

If your current dwelling isn’t older person friendly or you are struggling to find extra space, you may want to consider pooling resources. If your mom or dad has sold their humble abode, you could do the same. Then, by putting your nest eggs together, you may be able to find a bigger and more suitable property that fits the requirements for the entire family. This might mean living in a better area, having some more outside space and even having a separate annexe for your elderly relative so they can still maintain some of their independence.

Family Dynamics

Having someone else living with you, even if they are a parent that you love unconditionally, can take some getting used to. You will inevitably have rules within your house that need to be heeded. Smoking, drinking and noise levels need to be considered by everyone living within your four walls. A grandparent may naturally dote on their grandchildren, but this doesn’t mean spoiling them or pandering to their every want. You will need to make this clear to your mom or dad before you end up with a nightmare family dynamic.

It’s vital that your parent maintains their social circle and is able to keep in contact with their friends. Even if you live miles away, you need to make the effort to accommodate their social and emotional needs. At the same time, they will also need to give you space if you are hosting a function, soiree or dinner party. The give and take in these situations must go both ways.

Initially, the idea of having an elderly parent move in with you could be motivated by finances. However, other social, emotional and physical aspects need to be considered for the set up to be worthwhile. Fundamentally, everyone needs to benefit from this move, and it’s up to you and your family to weight up the advantages and disadvantages for all involved.

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Smart and Surprising Ways to Save More Money

From new clothes and vacations to birthday celebrations, it seems like there are almost endless opportunities to spend money, and too few to save. However, that isn’t really the case, and you can save more money than you spend if you get your priorities straight and you do some of the following smart and surprising things to save you more money…

Get an App

Sometimes, saving more money can be as simple as downloading an app. Mint, for example, is an excellent app which allows you to keep track of your spending, savings and even investments, so you know where you’re at and what you can do to save more. It is also really good at helping you to stay on budget.

Fix Your Credit Score

Why should you fix your credit score? Because the higher your score is, the easier it will be for you to access lower interest home and car loans, for example. If you need to access these sources of ‘good debt’ then you’ll benefit from a good score.

How can I fix my credit? You can do numerous things from settling old debts to paying all of your credit cards, loans and bills on time. It really depends on what your current situation is, but make sure you do what needs to be done because it can be of huge benefit to your life.

Buy Produce in Season

Want to save money on your groceries? You can save a surprising amount of money by simply buying fruits and vegetables when they are in season. Because they are more plentiful, they tend to be cheaper and have a longer shelf life than out of season foods, which means you can save money on two fronts.

Take Out a Loan

How does taking out a loan save you money? When it’s a debt consolidation loan to clear your debts and lower the amount of interest you have to pay annually. If you have various debts, it is definitely worth looking into such a loan because not only can it save you money, but it can make managing your finances a whole lot easier too.

Be a Little Risky

I know a lot of people are hesitant to risk any of the money they have earned, but really investing in stocks, shares, commodities or even real estate is a pretty smart way to save more money, not least because, if you play it smart it will increase your capital by a little, or hopefully a lot.If you don’t know where to start with investing, ask a financial adviser to help you out. If you tell them you’re pretty risk-averse, they won’t advise you to do anything too scary.

Switch to Streaming

A lot of people are surprised when they hear that they can get a number of streaming accounts, including Netflix, Hulu and Amazon Video for a fraction of the cost of cable, making it a smart and surprising way to save more money. It’s also one that doesn’t see you losing out on anything.

What are your top tips for saving more money?

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The Guide To A Cost-Effective House Move

Moving house is a costly affair, and you likely don’t need to be told that if you’ve already given it some thought or done research into the matter. Of course, if you have to leave your current home for whatever reason then you probably feel backed into a corner. There’s no way to avoid spending a fortune on moving house, right? Well, not necessarily. Yes, it’s going to cost you money, no matter what you do, but there are ways to ease the financial burden. Here’s the guide to a more cost-effective house move.

Upsell your current home.

The best way to make your house move as cost-effective as possible is to build up as many funds as possible towards the process. And seeing as you’ll be moving from one home to another, the most valuable asset you’ll have to sell is your old home. You should be aiming to make as much money as possible from the sale of your current house so as to increase your “house move fund”. Get into the mindset of a property developer, and think of ways to increase the value of your current home. You could move your belongings to storage before you move so that you can give your house a minimalistic design. If you remove signs that the property has been “lived in” then buyers are more likely to see themselves living there. Spaciousness and minimalism are timeless and effective design features.

Sift through your belongings.

The best way to have a cost-effect house move is to sift through your belongings so as to cut down the number of things you’ll be bringing with you. You’ve probably built up a cluttered collection of personal possessions over the years, but do you really want to keep all of these things? Dragging your clutter to your new home isn’t a good way to start. You should look through your belongings and throw out anything you don’t want or need anymore. If you sell anything of value then you can raise money that could go towards easing the cost of the rest of the house move.

Additionally, decluttering your house will make moving easier. That way, when you look into movers to help you transport your belongings, it’ll be a simpler and more cost-effective process (quotes are based on how many things need to be moved). This explains the process of hiring a particular moving company. You’ll most likely need help from professionals because you don’t want to damage or lose any of your possessions whilst moving to your new home. Whatever your situation, the fewer things you own, the less stressful the whole process will be.

Cut ties with providers before you move.

Obviously, you can’t give up electricity or water before you’ve moved house because those are essentials. However, you should aim to cancel the service for your landline, WiFi, or cable a couple of weeks prior to moving because it takes a while for such services to cancel. You don’t want to waste money by paying certain bills for a couple more weeks when you’re no longer living in the old house. Anything you can live without (say goodbye to YouTube for two weeks) should be canceled. You might not save a lot of money, but it’s something.