Posted by Money Tips Staff

A kitchen renovation is one of the best ways to add value to any home since just about every prospective buyer is going to want a spacious, functional, and stylish room in which to create meals for their family and entertain guests.  Unfortunately, it is also the most expensive space to remodel thanks to plumbing, cabinetry, counters, and appliances.  Even if you planned to upgrade several rooms in your home, you could easily blow your entire budget on the kitchen alone.  So if you’re operating with limited funds, you’re going to need options that will help you to keep the costs down.  Here are a few that can get the ball rolling without breaking the bank.

1. Choose wisely.  Whenever you’re working with a tight budget, you’re going to have to make some compromises.  This means you need to compile a list of everything you want to do and then narrow it down to a few key projects that are going to give you the most bang for your buck.  If the counters are useable but not exactly your taste, perhaps you can live with them in exchange for more functional cabinetry.  Or if the cabinets are solid, paint them (instead of replacing them) and get the granite countertop you’ve been dreaming of.  You may not be able to do it all, but you need to make informed decisions so that your expenditure shows a return down the road.
2. Gettin’ fakey with it.  If your pricy plans for new surfaces are a no go, then simply go faux!  You might be surprised by the many options on the market for faux wood and stone.  Some look so close to the real thing that an untrained eye couldn’t tell the difference and all are a lot more friendly for your wallet (in addition to being better for the environment).
3. Reclaimed options.  When it comes to capturing the warm and inviting feel you want for your kitchen, you may have your heart set on hardwood floors and cabinets, granite countertops, and a farmhouse sink.  But the combined price could be way over-budget.  So why not look into reclaimed items?  Often you can find gorgeous hardwood planks and fully intact cabinetry that has come from other homes (complete with the patina of age) for a lot less than new.  Retailers buy it cheap, refurbish it, and pass the savings on to you.  You can also find stone remnants for your countertops (if you don’t mind a few extra seams) and even old sinks and hardware that have come from demolished older homes if you simply shop around.
4. Energy-star appliances.  The price on these modern appliances fluctuates just about the same as their energy-guzzling counterparts, so you can find some good deals.  But keep in mind that they are also going to save you on your utility bills, which makes them the gift that keeps on giving (to you and to the environment).
5. DIY.  Kitchen remodeling isn’t rocket science.  Even though you may have to hire a contractor for some items on your checklist, there’s a lot you can do yourself.  For example, you can participate in demo and clean-up so that you don’t have to pay a crew to do it.  You may also be able to install flooring or even cabinets (with a home remodeling guide and a spec list of building codes) and you can certainly install your own lighting (and other) fixtures, paint, and even put up a backsplash.

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Why You Should Create a College Fund for Your Kids Now

Posted by Elizabeth Retton

None of us are getting any younger, and you could swear that every time you turn around your child has magically aged; it seems like just yesterday he was taking his first steps and now he’s starting school!  The point is, time is flying and your child is going to be heading off for college quicker than you can imagine.  If you haven’t set aside a college fund in preparation for this eventuality you could find yourself scraping for money to ensure that he gets the best education (or telling him you just can’t afford to send him to an Ivy League school because you don’t have the cash).  So if you’ve been meaning to do it for years but it just keeps getting put on the back burner, here are a few good reasons to lite a fire and start up a college fund.

1. Inflation.  You may think that the price of higher education is astronomical now, but over the course of your child’s maturation to adulthood, it’s bound to go up.  Even if you start a savings account the day your baby is born and contribute to it regularly until he’s 18, the rate at which you earn interest isn’t likely to coincide with the rising costs of living.  This means you’re already one step behind.  So you need to start thinking about how much you can set aside each month and how you’re going to make it work for you.
2. Give investments time to grow.  Even the best investments won’t mature overnight, so if it’s getting to the eleventh hour (your kid is already prepping for the SAT, for example), you might have waited too long.  If you don’t want to have to roll the dice at the last minute by putting your little nest egg into high-risk stocks and hoping that they pay off, start investing wisely while your child is still young and continue to invest until it’s time to send him off to the ivory tower.
3. Admission doesn’t equal scholarship.  Just because your child receives the honor of an acceptance letter into Harvard or Yale doesn’t mean he’ll get a scholarship to go with it.  You want to believe that your child is capable of anything, so put your money where your mouth is.  If he ends up at a state school, well, he’ll have some money for a down payment on his first home, too.  If he ends up at an Ivy League law school, he can buy you a house.
4. Don’t count on help.  Federal financial aid, government grants, and outside scholarships are all great…for the student that is eligible.  But if you’re doing well enough to make ends meet, your child may not qualify for some (or all) of these free monies.  Keep that in mind if you’re counting on someone else to foot the bill for your child’s college education.
5. Options.  Some parents think the public school system is good enough, while others would rather pay for private institutions.  And then there are those that opt for home tuition so they can exercise more control over their child’s education.  As a parent, you have options when it comes to educating your kid.  Don’t you want him to have just as many choices when it comes to selecting his university of choice?  The sooner you start saving, the more money you’ll have in the college fund so that the world can be your high-school grad’s oyster.

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Posted by Katya Mikulich

Shopping for comfortable shoes can be exciting without breaking your budget. Here are five tips to keep your bank account and your feet happy.

1. Shop for off-season footwear. Some of the best shopping deals come as stores prepare to switch their inventory for the upcoming season. They will reduce prices to clear room for new items. This is a great time to shop, because you will be able to find a lot of discounts and clearance specials on trendy clothing.

2. Go with the classics. Classic styles are always popular and fashionable. This makes them more affordable than unique designs. You can also be sure that your classic footwear will match a wider variety of outfits.

3. Match your wardrobe. While many people go with basic colors for footwear, unique colors may be sold at a discounted price. Take a quick survey of your wardrobe, and then search for sales that will allow you to match from head to toe.

4. Take your time to shop. Go to a variety of stores while you are shopping. Compare prices, and look for less expensive styles that are similar to the costly ones. You may find a great bargain in an unexpected place. You may also receive frequent shopper rewards from stores that you visit. Those rewards can lead to a great deal on a pair of shoes.

5. Search for sales. Stores will often have annual shoe sales, or they may offer coupons on occasion. Look for deals and discounts, and you will be able to fill up your shoe organizer in no time.

When you can buy shoes at great prices, it’s hard to tell yourself to pass on the deal. Be wise about the way you shop, and you will find that you can afford to purchase more footwear than you have room to store.

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