2 Factors That May Impact the Real Estate Market in 2022

2021 was certainly a wild ride for real estate, and 2022 may have some new realities in store— including increasing interest rates and competition from foreign investors.

It's no secret that 2021 has been a hot year for the real estate market. Houses are selling at record prices, bidding wars are frequently taking place for the limited inventory available, and it's not unusual for buyers to pay for home purchases entirely in cash. 

Though the market appears to be normalizing somewhat as more listings become available, 2022 is poised to have some unique issues and challenges of its own when it comes to real estate sales. Two factors in particular are likely to impact the market in the year ahead: 

• The Federal Reserve's decision in November to scale back its pandemic-era economic stimulus efforts. 
• Foreign investment returning to the U.S. real estate market as American borders open.

Here's a closer look at exactly how these factors will impact real estate over the coming 12 months, and your ability to buy or sell a home.

Feds announce an end to pandemic-era stimulus measures

In early November, the Federal Reserve announced plans to taper off its $120 billion bond-buying program and begin winding down its historic effort to stabilize the U.S. economy amid the rollercoaster ride of COVID-19. The decision comes in response to the significant economic rebound the country has experienced in recent months. As federal stimulus measures end, the central bank will be reducing bond purchases by $15 billion each month through January.

RELATED: Whether You're Selling, Buying, or Refinancing, These Clever Real Estate Sites Can Help

"The Federal Reserve's decision to scale back asset purchases represents an attempt to normalize monetary policy, which shifted into crisis mode as the pandemic tightened its grip on the U.S. economy," says Mark Hamrick, senior economic analyst and Washington bureau chief for Bankrate. 

That's all well and good, but what does it mean for you, the homebuyer or seller? The end of asset purchases is viewed by many industry experts as a precursor to rising interest rates. And higher mortgage rates mean home buying becomes less affordable for many Americans.

"The Fed's tapering means that less mortgage bonds and treasury debt will be purchased. As a result, mortgage rates will go up," explains Edward Mermelstein, a real estate consultant and founder of One and Only Holdings, a boutique advisory firm catering to investors. "As mortgage rates go up, homes become more expensive to carry if you are financing the purchase."

Heading into 2022, it's likely mortgage rates will increase anywhere from 0.25 to 0.5 percent, which could make a big difference for some potential homebuyers.

"Currently, mortgage rates are between 2.5 percent to 3 percent, so an increase in 0.25 percent would increase your monthly expense by 20 percent, which is significant. Therefore, it is always best to buy now, instead of six months from now," Mermelstein continues.

Interest rate increases are likely to have the most significant impact on the lower end of the market, where a half point can mean the difference between affordability and unaffordability, says Frederick Warburg Peters, CEO of Warburg Realty.

"In the higher ends of the market, increased interest rates will probably put a damper on price increases, but they're unlikely to significantly impact volume," says Warburg Peters. 

It's also worth noting that the predicted rate hike is not exactly ideal at a time when home prices were already sky high. According to a Redfin report released in November (which covered the four-week period ending November 14), median home-sale prices had increased 13 percent year over year to $357,881 by last month. They were up 30 percent from the same period in 2019. In addition, asking prices of newly listed homes for the time period covered in the report were up 13 percent from the same time a year ago, and 27 percent from 2019, to a median of $354,725.

"Higher rates will hurt just that much more as real estate prices have climbed by 20 percent or more in the past year," says Melissa Cohn, regional vice president and executive mortgage banker for William Raveis Mortgage. "The combination will be hard on the real estate market. People will still be able to buy—but they will be able to afford less space."

Foreign investment returns in 2022

Because the nation's borders were largely closed during much of the pandemic, the housing market was essentially protected from an even bigger run-up in purchase prices that might have been driven by foreign investors dabbling in the market. This reality is poised to shift quickly in the opposite direction as American borders reopen. 

Foreign investors have been waiting for almost two years to get back into the U.S. markets, say experts. As flights are added and foreign visa bottlenecks subside, there will be an acceleration of money from abroad flowing into U.S. real estate. It's a development that will benefit some, but not everyone.

RELATED: 4 Steps You Must Take If You Want to Buy a House Next Year

"Major markets, such as New York, Miami and Los Angeles, should benefit well from the return of foreign investors. Specifically, sellers in these cities benefit the most because as foreign investors enter the markets, prices increase," adds Mermelstein.

If you're a prospective buyer, however, this run-up may not be ideal, especially when combined with the increased interest rates on the horizon.

"Between increasing mortgage rates and the return of foreign investors, the cost of housing will most certainly get more expensive," says Mermelstein.

Still, not all real estate experts are convinced there are such significant changes ahead, at least not with regard to foreign investors flooding the market come 2022—especially now that a new strain of coronavirus is threatening any return to normalcy.

"With the advent of the Omicron strain of COVID, I think a lot of bets are up in the air, if not off," says Ellen Sykes, a broker for Warburg Realty. "It's unlikely most people anticipated the renewed waves of possible quarantines, shutdowns, and the impact on travel. Consequently, I do not see as great an influx of foreign investors as we used to expect in New York City, and elsewhere in the country. There will always be the larger consortiums and big players coming and going, but the individual investors will be laying low for a while. It is just too difficult at this point."

Takeaways for homebuyers

The experts at Opendoor continue to predict that the spring 2022 homebuying season will see high demand across the United States despite any potential market changes looming. Even with increased interest rates and the possibility of more buying competition from foreign investors, there will still be plenty of options for buyers and sellers alike and the market will continue to move quickly. 

RELATED: Real Estate Investing Could Be Your Key to Financial Freedom

"While we don't know what the interest rates will look like, we always recommend to customers that they have a firm understanding of their finances to determine their individual needs," says Nadia Aziz, Opendoor's general manager for mortgages. "Researching options is important in order to find the best financing product that meets your needs. There are many different mortgage products available, including low down payment options, that may help home buyers achieve their dream of home ownership."

Courtesy of: https://www.realsimple.com/author/mia-taylor

 

How to Reduce the Amount of Fat in Your Diet

 

Many people eat a diet with too much fat, which can lead to obesity. That can increase the risk of developing diabetes, high blood pressure, heart disease and some types of cancer. High fat intake can also lead to high cholesterol levels, which can increase the risk of heart disease. Here are some ways to cut back and develop healthier eating habits.

Read Nutritional Labels
When you go grocery shopping, read the nutritional labels on packages. You might be surprised by the amounts of fat in many foods, even ones labeled low-fat or fat-free. In addition, many low-fat or fat-free foods contain large amounts of sugar, which can lead to weight gain.

Avoid buying products with high levels of saturated and trans fats and hydrogenated oil. Chips, baked goods, fried foods and processed snacks tend to have high levels of fat.

Choose Lean and Low-Fat Foods
Buy lean meat, such as chicken and turkey, and remove the skin before cooking. If you want to have pork or beef, look for lean cuts or trim the fat before cooking. Fish is another good source of low-fat protein. Grill, broil or bake meat and fish instead of frying it. Place meat on a rack so fat can drip from it as it cooks. Beans, lentils and tofu are good sources of protein that have less fat than meat. Incorporate them into your diet in place of meat for some meals.

Replace whole milk with a reduced-fat or fat-free version. Buy low-fat cheese, yogurt, cottage cheese, cream cheese, margarine, mayonnaise and salad dressing. Avoid sauces made with cream or cheese, or use low-fat ingredients. Flavor foods with herbs and spices instead of butter and cheese. Use olive, canola, sunflower or safflower oil instead of butter or shortening.

Eat more fruits, vegetables and whole grains at mealtimes and for snacks. Look for creative ways to incorporate them into your favorite dishes. 

Make Healthy Choices When Dining Out
Restaurant meals often contain high levels of fat, as well as salt and sugar. When you eat at a restaurant, look for nutritional information on the menu. If it is not available, choose dishes that are baked, broiled or roasted and avoid foods that are fried or that have heavy sauces or gravies. If a dish is ordinarily cooked with butter, ask if it can be made without it. Order your salad with low-fat dressing on the side. Look for low-fat desserts or skip dessert altogether.

Work on Developing Healthier Eating Habits
Many people eat unhealthy amounts of fat and suffer a range of negative health effects as a result. Cutting back on fat does not mean that you have to go without foods you enjoy. You can look for healthier alternatives or find new recipes to try. If you have questions about your health or need advice on dietary changes, consult your doctor.

5 Decor Items That Will Give Your Home a Nostalgic Feel

 

When it comes to interior design, there’s nothing wrong with living in the past. Creating a nostalgic feel is the perfect way to recall a bygone era and can be done in practically any room in the house. Here are a few iconic items from past eras that have become popular display pieces for those who like to get creative with their home decor.

Juke Box
Sure, you may have wireless, voice-controlled speakers hidden in the walls, but a mint-condition juke box is a statement piece that will never go out of style. Reminiscent of yesteryear, they can look great in a casual entertaining area or billiard room and will bring everyone back to the past with hits from the ’60s and ‘70s.

Vintage Cameras
Whether you’re a passionate shutterbug or simply have an old Polaroid stored away in the attic, you can try using a vintage camera as a display piece that lends an artsy aesthetic. Arranging a few cameras from different eras on a shelf is likely going to evoke a response from visitors young and old.

Arcade Games
Kids are playing virtual reality video games these days, but even they can appreciate the irony of decorating the rec room with old arcade games like Pacman and pinball. You can create a fun vibe with these collector’s items, while also introducing your kids to a game that you can actually beat them in.

Record Players
The Walkman and CD player have both come and gone, but the record player has proven to be irreplaceable thanks to its distinctly rich sound. If you want to incorporate one into your interior design, a mid-century modern record console that can hold your collection is the ultimate combination of form and function.

Vintage Refrigerators
Whether you put it in your kitchen, game room or garage, a vintage refrigerator lends an old-timey feel to any setting. You can usually find them in vibrant colors that will make a room pop with visual appeal and are sure to be a conversation starter.

3 Easy Sheet Pan Ideas for Weeknight Dinners

 

Sheet pan dinners are a weeknight lifesaver and can be the perfect solution for anyone who is hoping to eat healthier without spending hours in the kitchen. If you’re hoping to avoid excess dishes and limit your need to slave over a stovetop, popping in one of these sheet pan recipes could be just what you need tonight.

Italian Chicken Breast and Parmesan Asparagus
Chicken breast and asparagus both can be cooked at 400 degrees F for 22-26 minutes until your chicken has reached 165 degrees and your asparagus is tender; this makes them a perfect sheet pan combo. Coat your chicken breasts in a mixture of avocado or olive oil and Italian seasoning. Then, place your chicken breasts and spread your asparagus out on your baking sheet in the remaining space. Season everything with salt and pepper to taste, drizzle oil over your asparagus and let it bake! 5-10 minutes before your dish is finished, sprinkle shredded aged parmesan on your asparagus and let it bake for the remaining time. Serve this dish with a fresh salad and your favorite dinner rolls.

Peppers and Smoked Sausage Link Medley
Sliced bell peppers of every color and your favorite smoked turkey sausage are the stars in this unbelievably easy dinner. The prep is minimal; simply slice your bell peppers into strips, cut your turkey sausage lengthwise and cut it into 2-3 inch strips. Toss your peppers with olive or avocado oil and place your ingredients on an oiled sheet pan. Bake it as-is or brush your sausages with BBQ sauce for extra flavor. Bake at 425 degrees F for 25-30 minutes (or until your bell peppers are soft and charred in spots, and the sausage is completely cooked through). Serve on its own for a BBQ veggie medley or place over a bed of rice or on a hoagie for a BBQ sandwich.

Pesto Salmon and Rainbow Cauliflower Bake
This indulgent dish couldn’t be more simple. The trick to this dish is to “cheat” a little. Since raw cauliflower would require more cook time than your salmon, start with your favorite frozen cauliflower (tip: rainbow cauliflower provides visual depth to your dish). On a lined and oiled baking pan*, add your salmon fillet skin-side down. Cover the top of your salmon in a generous helping of your favorite pesto. In the remaining space, spread out your frozen cauliflower and sprinkle salt and pepper to taste. Bake your dish at 400 degrees F for 15 minutes until your salmon easily flakes with a fork. As your dish bakes, the pesto will spread, seasoning your cauliflower as well. For added flavor indulgence, sprinkle grated parmesan cheese onto your cauliflower five minutes before your recipe is finished baking.

*Special Note: this dish works best in a roasting pan or a sheet pan with larger ledges to prevent any pooling pesto from spilling onto the bottom of your oven.

The Best Smart Home Tech for the Outdoors

 

Over the last few years, technology has increasingly found its way into our homes. One area that often gets overlooked, however, is technology for outside the house. As we move into the warmer months, it’s time to take a look at some of the best devices and systems to equip your outdoor living area. 

Robotic Lawn Mower
A well-kept lawn is essential to maintaining curb appeal, but you might not always have time to get out there and push the mower around. With a cutting-edge robotic lawn mower, you can schedule the machine to regularly cut your grass, rain or shine, and ensure that the yard is always looking its best. 

Smart Grill
If it’s time to upgrade your barbecue area, then a state-of-the-art smart grill can make the perfect addition this spring. Today’s intelligent grills can be programmed to prepare food just the way you like it, each and every time, so you’ll never have to worry about over or undercooking again. You’ll receive notifications when it’s ready to be flipped or taken off the grill. With one less thing to worry about, you can spend more time relaxing in the backyard.   

Speakers and Lights
For avid entertainers, you can extend the conveniences of your smart home to the outdoors with lights and speakers that are controlled via your smartphone or virtual assistant. All it takes is a quick voice command and you’ll have the perfect ambience with mood lighting and your favorite tunes playing on the terrace.

Smart Sprinklers
Automatic irrigation systems are nothing new, but these days a smart sprinkler system can adjust your lawn’s watering schedule based on local weather data. If a heavy rain storm will be coming down later in the day, for example, it will know to skip that morning’s irrigation so you’ll never have an over-watered lawn again. Additionally, soil-moisture sensors are utilized to ensure that just the right amount of water is provided for a healthy yard.

5 Household Chores for Kids Under 10

 

When everyone pitches in around the house, there is more time for fun, games and family bonding. Teaching household chores and responsibilities at a young age can help children grow up to be clean, organized and happy adults. 

So, what chores should you assign to the young ones? Be sure to avoid heavy objects, like vacuum cleaners, and chemical cleaners to reduce the risk of injury or death. Instead, start with easier tasks that still provide a sense of responsibility and success. 

Here are five chores for kids under 10 to get you started on the road to a cleaner home and a happier, healthier (and more responsible) family:

Dust Furniture
Dust accrues almost daily in every room in your home. By assigning this task to young children, they get a better understanding of the spaces that get dirty, even where they would least expect it. Dusting is easy enough that risk of injury is minimal, yet extremely helpful in the overall cleaning process.  

Water Plants
If you have indoor plants, or even a beautifully landscaped garden outdoors, you can connect your children to nature while also teaching them to acquire a green thumb. This can also be a great way to dive into science, demonstrating photosynthesis and the importance of sunlight and water. If you grow herbs, you can even show them how to use the plants they care for in the kitchen! 

Feed Pets
Having a pet is a huge responsibility, especially for a child. And when that child is too young to take a dog for a walk or clean out a litter box, feeding time is a great way to pitch in. Make it easier by providing a scooper, rather than lifting a heavy bag, and giving them a set number of scoops for how much food is needed. 

Set the Table
As dinner is cooking in the kitchen, have younger children take on the job of setting the table. A plate, utensils, a cup and a napkin at every seat is simple and easy. If the meal requires serving utensils (other than knives of course) or condiments, have them handle it so they understand where things are located and where they belong when it’s time to put them away. 

Sweep the Floor
A vacuum cleaner may be a bit heavy duty for a small child, but a broom is not. Similar to dusting, children will learn the nooks and corners that need to be swept for a deeper clean when you follow up with a vacuum. Also, since sweeping collects physical piles of dirt that need to be scooped up, kids may feel a sense of pride when they see what their hard work has accomplished.

Productivity Tips for Working From Home

 

Whether you’ve been working remotely for years or are new to a work-from-home scenario, there are important strategies for doing it successfully.

Many have the misconception that working from home is easy and will automatically lead to increased productivity. In reality, the opposite is usually true. There are often more distractions at home, and not having the office resources you rely on readily available can hamper your ability to do your job.

If you want to improve your chances of being productive while working from home, do the following:

Create designated space. Don’t try to do your job from the sofa, or worse, your bed. If you don’t already have a designated office space in your home, create one. Set up a table and comfortable chair in a room—or corner of a room—where you’re likely to have the most privacy. Use a decorative screen to help section off your workspace if need be. Take over a guest room, if you have one, or claim the dining room as your new office, relegating meals to the kitchen instead. The idea is to have a space that’s as private as possible, where you can leave your work materials out at the end of the day.

Get up on time. Working from home doesn’t mean it’s time to sleep in. Be sure to maintain the morning schedule you had when going into the office, and if you now have more time due to not having to commute, use it for exercise or to have breakfast with the family. Giving in to sleeping longer may reduce your energy level and make it harder to focus.

Establish a communication system. Working from home can often leave you feeling cut-off from your coworkers and managers, which can quickly stymie productivity. Make sure you have a system for effectively connecting, using both chat programs and video conferencing to stay in regular contact. Don’t just rely on email, which can lack details and intent. The idea is to avoid isolating yourself, even though you’re not physically present at the office.

Work during work hours. When working from home, it can be tempting to try and sneak in some domestic tasks or social engagements. Try to avoid this during designated work hours, as the distraction factor will quickly mount, and you’ll find it hard to keep switching between work and home life. Take a lunch hour and a couple of breaks for your personal tasks, then focus on work during the times you would while at the office.

Honor quitting time. One of the dangers of working from home is that your work is always right there with you. Be as productive as possible during work hours, then end your day as you normally would when at the office. Shut your computer down, organize your papers, turn off the light in your home-office space and call it a day. Taking the necessary time to detach from work every day will ultimately make you more productive.

Treat Yourself to a Luxurious Staycation

 

Everyone loves going away on an exotic vacation, but sometimes there’s nothing quite like staying home and taking a few days to relax. After all, when you have a luxurious residence, you don’t need to stay at a five-star hotel to treat yourself. If you’re ready to escape your daily stress without having to pack your suitcase, here are a few tips for the ultimate staycation.

Call the Cleaners
Whether it’s for a week or a weekend, you want your house to be looking it’s best when you start your staycation. Have the cleaners come do an extra deep clean so that it practically feels like a hotel. You might even want to take some time to declutter and organize beforehand, because nobody can relax in a messy environment. You’ll thank yourself later.

Pamper Yourself
This is the perfect time to pick out a few products to upgrade around the house, like bath salts that you can enjoy while soaking in the tub or fine linens for your bed. A plush, new bathrobe or fluffy set of towels might also be in order.

Make Reservations
The staycation is all about planning ahead and splurging a little bit (and you don’t have to feel bad about it because you’re already saving money by not booking hotels and plane tickets). Book yourself a day at your favorite spa and get a few treatments, then be sure to make a special dinner reservation. If you want to go to a play or concert, get your tickets ahead of time so that everything is in order.

Stock Up on Your Favorite Foods (and Drinks!)
Of course, you’re not going to want to go grocery shopping while you’re taking your staycation, so make sure you have the pantry filled with all your favorites. Everyone eats well when they go on vacation, so it’s perfectly fine to indulge in your favorite sweets.

Family Activities
Plan out a few activities that the whole family will enjoy, like going apple picking or taking a day trip to a nearby attraction. In the evenings, it’s always fun to spend time cooking together or playing a board game.

Top Money Skills to Teach Your Children

 

Raising your kids to be adults who can successfully navigate through life is the end goal of parenting, and a big part of that responsibility centers around teaching them about money so that they’re financially independent as they transition from childhood to adulthood.

Here are some of the best money skills to teach your children:

Explain that everything costs money. This basic concept is one that some people forget. Everything you buy costs money, whether you pay for it now with cash or later with a credit card or loan.

Thirty-eight percent of U.S. households had revolving credit card debt in 2018, according to the National Foundation for Credit Counseling. Revolving credit is debt that’s moved from month to month and paid off over time with interest and possibly even late fees. This is in direct opposition to credit card users who pay off their purchases each month and avoid interest charges.

Take your children shopping with you—for groceries, clothes, furniture and everything else—and show them that things cost money.

Teach them to save. A clear jar for spare change can be a simple way to show children how to save money as they can physically see the money increase daily.

When they get money for birthdays or earn an allowance, open a savings account in their name and show them how to deposit money in it regularly. If they’re old enough to understand it, teach them how compound interest works and how regular deposits and interest paid on their account can increase their savings.

You don’t have to go over the numbers with them but explain how you save money each month for retirement, emergency expenses, vacations and other long-term goals.

Give them the opportunity to work for an allowance. Set up an allowance—usually equal to their age—for weekly chores. This will help show children that they can get paid for working, then use that money to buy things or save for something later.

If you don’t think an allowance is a good way to get your child to do chores, take the time to explain the importance of everyone contributing to how the house is taken care of and how important it is that everyone work together to get chores done.

Teaching them some responsibility, whether with an allowance or not, can help them learn skills they will undoubtedly need as adults.

Show them the importance of a sound budget. If you don’t have a household budget, having kids may be a good incentive to start one. You can show them your monthly expenses, as well as income, and explain how both should be equal to make your finances work well.

Make sure your children understand that not having a sound budget that can be adhered to may cause them to go into debt in order to pay some bills, or having to cut costs because they can’t afford everything they want. If you don’t want to show your children your income, at least explain how your bills work.

Can You Reopen a Homeowners Insurance Claim After You Received Payment?

 

If you submitted a claim to your homeowners insurance company and received a payment, the company most likely sent you a letter stating that your claim was closed. That doesn’t necessarily mean that the issue has been completely settled, however. The insurer might reopen your claim, even if it has already sent you a payment, if you present evidence that the company didn’t adequately compensate you for your losses or introduce new information that wasn’t available when you initially submitted your claim.

How to Get Your Insurance Company to Reconsider Your Claim
If your claim is complex, consider seeking professional help. For a relatively simple case, you might be able to handle things with the insurance company yourself.

Start off by reviewing your homeowners insurance policy so you understand your coverage, exclusions and limits. If you aren’t sure why the amount of the payout was lower than you expected, review your claim and settlement letter. If the insurance company cited an exclusion, check the language in your policy to see if it fits the specifics of your claim. 

If you need clarification on anything, contact your insurance company and ask questions. Keep written records of each person you speak to, when you spoke and everything you discuss. If you talk to someone on the phone, send that person a follow-up email summarizing your discussion to avoid any disagreements or misunderstandings.

Send a letter via certified mail to the claims adjuster explaining why you disagree with the company’s decision. If you think the adjuster missed some damage or underestimated its scope, ask the adjuster to reinspect your home. You can also ask a local contractor (and/or an expert in water damage, smoke damage, mold, etc., if applicable) to inspect your house and submit an estimate to the insurance company. Don’t threaten to hire an attorney at this stage. Try to resolve the issue amicably. 

What to Do if Your Homeowners Insurance Company Won’t Budge
If these measures don’t persuade the insurer to reconsider the amount of your settlement, you can file a complaint with your state’s department of insurance. If there is a disagreement on the scope of the damage, you and your insurer can each hire your own appraiser to try to reach an agreement. Another option is mediation, although the insurance company wouldn’t be bound by the decision. As a last resort, you can hire an attorney and file a lawsuit against your insurance company.

Your Insurer’s Decision Isn’t Necessarily Final
When people receive a letter from their homeowners insurance company stating that a claim has been closed, they usually think that’s the end of the road, but that’s not always the case. You have the right to question the insurer’s settlement. Sometimes companies backtrack and pay out more than they initially offered when homeowners provide additional information from professionals. If you’re not satisfied with the amount you received, explore all your options to get the compensation you deserve.

Money Mistakes to Avoid After a Divorce

 

A divorce can be one of the most difficult things to go through in life. Financial mistakes after a divorce don’t have to be on that list.

Here are some money mistakes to stay away from so you can bounce back and move forward with your life:

Not Budgeting
With your income likely being cut in half after a divorce, it’s a good time to set up a budget and adjust your lifestyle.

Start a budget and keep track of how much money you’re spending and how much you’re bringing in. You may have to pay alimony, which should be included in your new budget. You may also want to go back to school so you can get a better job and earn more money, or switch to full-time work if you worked part-time while married.

Using Retirement Savings for Living Expenses
Divorce is expensive, costing $15,000 per person on a national average in 2019. Your expenses may also rise after a divorce. You’re now responsible for paying an entire mortgage or monthly rental, so your housing costs could double.

While these money problems won’t last forever, it can be tempting to pull money out of your retirement accounts to pay for them and other daily living expenses. Withdrawing money from most retirement accounts comes with a 10% tax penalty. Even if you pay the money back, you’re still losing interest during the time you take the money out.

Keeping Joint Accounts Open
Married couples often have all kinds of accounts open together. Bank accounts, credit cards, retirement accounts, loans and a home are some of the things they own jointly.

It’s best for both of you to decide who is now in charge of each debt and to remove the name of the ex-spouse no longer on the account. If your ex is an authorized user on your credit card, remove them so they don’t buy a lot of stuff without intending to pay for it.

For loans, you may have to refinance the loan in one person’s name only. Bank accounts can be easier to deal with. Divide the balance and close the account.

Not Dealing With Taxes
If you were married most of the year, each if you may have to file tax returns separately. Your tax status is based on your marital status on the last day of the year. So, if you’re legally divorced by Dec. 31, you’ll file as a single person or head of household.

Changing your filing status affects the capital gains you’ll pay on the sale of your house. As a married couple, you both avoid paying capital gains tax on the first $500,000 from the sale. If single, the exclusion drops in half to $250,000.

3 Ways to Eco-Clean Your Fridge

 

Suffice it to say that no kitchen appliance gets more traffic than the refrigerator, and all that use means it’s prone to mess. The next time your fridge is due for a cleaning, consider using eco-friendly agents that are just as effective as some of the harsher products you’ll find at the store. The best part? They’ll save you some serious green!

Oust Odors
With varied foods stored inside refrigerators, it’s no wonder the appliances are susceptible to odor. To eliminate unpleasant smells, remove the offending item and place an open box of baking soda in the back of your fridge. Baking soda has absorption properties that neutralize odor to help keep your fridge smelling fresh, no matter its contents.

Banish Chemicals
To clean the inside of your fridge (and other areas of your home), mix up a large batch of non-toxic cleaner made of equal parts tap water and distilled white vinegar. Heat up the solution in a microwave-safe container to zap any bacteria and wipe down all shelves and drawers inside your fridge. Also, make sure you don’t forget to clean the sides.

Go Natural
Rather than using a commercial refrigerator cleaner, such as stainless steel sprays, combine warm water with a drop or two of natural dish soap. Store-bought cleaners often release chemicals that cause indoor air pollution, and natural soap won’t irritate sensitive skin. To remove fingerprints or smudges on your fridge, wet a soft cloth with the solution and wipe down the doors and handles.

These are just three eco-friendly ways to clean your home’s kitchen refrigerator. Check online for some more green cleaning tips that you can try for the whole household.

A 10-Point Guide to Healthy Meals

 

Most everyone knows a healthy diet is important for a healthy body. But eating the right foods every day might be easier said than done–especially with so much tempting junk food available! If you’re looking to improve your diet, start by making some small changes and learning the keys to healthy eating.

Try to include all the major food groups–fruits, vegetables, grains, dairy and protein–as part of your meals and snacks daily. You’ll also want to limit added sugars, saturated fat and sodium. For further guidance, check out these 10 tips from ChooseMyPlate.gov for building healthy meals and meeting your eating needs throughout the day:

1. Make half your plate veggies and fruits. Vegetables and fruits are full of nutrients that support good health. Choose fruits and red, orange and dark-green vegetables, such as tomatoes, sweet potatoes and broccoli.

2. Include whole grains. Aim to make at least half your grains whole grains. Look for food labels indicating the product is 100-percent whole grain or whole wheat. Whole grains provide more nutrients, including fiber, than refined grains do.

3. Don’t forget the dairy. Complete your meal with a cup of fat-free or low-fat milk. You’ll get the same amount of calcium and other essential nutrients as whole milk but fewer calories. Don’t drink milk? Try drinking soymilk or include low-fat yogurt in your meal or snack.

4. Add lean protein. Choose proteins such as lean beef, pork, chicken or turkey, as well as eggs, nuts, beans or tofu. Twice a week, try to make seafood the protein on your plate.

5. Avoid extra fat. Using heavy gravies or sauces will add fat and calories to otherwise healthy choices. Try steamed broccoli with a sprinkling of low-fat parmesan cheese or a squeeze of lemon.

6. Get creative in the kitchen. Whether you’re making a sandwich, stir-fry or casserole, find ways to make them healthier. Try using less meat and cheese, which can be higher in saturated fat and sodium, and including more veggies that add new flavors and textures to your meals.

7. Take control of your food. Eat at home more often so you know exactly what you’re eating. If you eat out, check and compare the nutrition information. Choose options that are lower in calories, saturated fat and sodium.

8. Try new foods. Keep it interesting by picking out new foods you’ve never tried before, such as mango, lentils, quinoa, kale or sardines. You may find a new favorite! Trade fun and tasty recipes with friends, or find some online.

9. Satisfy your sweet tooth in a healthy way. Indulge in a naturally sweet dessert dish—fruit! Serve a fresh fruit salad or a fruit parfait made with yogurt. For a hot dessert, bake apples and top them with cinnamon.

10. Remember that everything you eat and drink matters. The right mix of foods in your meals and snacks can help you be healthier now and into the future. Small, practical changes in how you eat can improve your diet and add up to big wins over time.