Spruce up your Bathroom Remodels with Some Easy To-Do Tips and Stay on a Budget

English: Bathroom Refacing (Photo credit: Wikipedia)

I have been living in my home for 20 plus years. The kids have all grown and left, my wife and I never did any remodeling all these years except for some repainting and flooring. Now we are thinking the time is right. 

One of the the places we are considering to make over are the bathrooms. They are old and look it. A little tile here and new fixtures there, I think should do the trick. It looks like its going to be an involved process but that's OK, we are ready for some changes.

Many home owners do not want to have a major remodel and really, most don't need one. Just some improvements here and there will quickly change the entire appearance of a bathroom. I have listed a few easy projects that can be done over a weekend

It's Time to Repaint

When your existing cabinets have great storage space, good lines, as well as tough build quality, restore the appearance with a fresh layer of paint. You must sand the gloss off a recently repainted cupboard as well as repair any kind of damages with wood filler, and after that use a layer of sealer.

English: Black and white tiles bathroom (Photo credit: Wikipedia)

Try Some New Accessories

Include something brand-new in your powder room area, but not to pricey. Try some brand-new pieces, such as an impressive mirror, chrome accent racks, as well as towel bars. Some wainscoting on the wall too can help, it can resemble white repainted handmade board. Also repaint the top one-half of the wall surfaces a different shade for an accent.

Enhance your Storage Compartments

Include pullout racks to deep closets to keep items in order and also readable. Improve the cupboard insides too, when it comes to these gliding drawers areas, they assist you to keep organized and away from reaching around at night or losing even more of your precious things.

Complement Your Shower Tile

Affordable white area floor tiles enhance the appearance and also are a cost effective way to complement a shower border. Many showers could also do with a good tile grout cleaning. Over time grout can discolor, fall out and cause leaks. 

You could flavor up the appearance of your shower and put a band of accent ceramic tiles, you could utilize smooth black ceramic tiles that aesthetically connect the shower to the vanity location.

Change the Light Fixtures

You should take out an outdated light fixture for something that's attractive and also brand-new, you'll view your shower in an entire new light. Glass lamps, as well as a layered sheet glass, enhances the appearance and shows the bathroom in a new light .

Ideal To-Do's to Make any type of Bathroom Remodel Spectacular

• Order a new High-Style Vanity
• Transform an existing furniture piece into a vanity. Minimize costly cabinets by drilling an opening in the cabinet or top for a drop-in sink as well as tap.
• Obtain suggestions for doing over your washroom.
• Update a Medicine Cabinet.
• Use Megasealed for your tile repairs.
• Think of ways to use your medication cabinet for more organization.

Best Tip

Change the counter top, find the right counter top that has beauty and also enhances the bathroom over all. For inexpensive alternatives, think about preformed laminate, or visit the factory for a remnant piece of granite for a counter top, and save some money.

Does Marrying Someone with Bad Credit Affect Your Credit Score?

There are ways to avoid letting your spouse’s credit history from affecting your own, and the best way of doing so is understanding how marriage affects your credit score.

In Ontario, the act of getting married on its own won’t change your records or your spouse’s, and once married you and your spouse will continue to have individual credit scores.

What is Bad credit ?

Bad credit is the failure to keep up with your credit agreements and the inability to get approved for new credit. This means you haven't paid your past dues on time. When you have bad credit, lenders are afraid of lending,as you may fall behind on any loan or credit card you're given. This will result for your application for credit to get rejected. The credit score is a good indicator to identify good credit and bad credit. If your credit score is below 620, then it is said that you have bad credit.

Joint Financial Decisions Matter

After marriage, some couples find that it makes sense to assume liability for their spouse’s debt either partially or entirely. Assuming debt changes your financial standing, which creditors will take into account when financing loans. Applying for debt as a couple is a serious decision because if your spouse was unable to make payments on their loans on time in the past, they may also struggle to do so in the future. Debt in arrears and overdue credit cards on loans made as a couple will affect you and your spouse’s credit score.

Giving Creditors Access to Your Spouse’s Credit History

Your creditors will not have access to your spouse’s credit history unless you add your spouse to your financial accounts. Your history will not automatically be merged with your partner’s credit history, however, creditors will look to see your partner’s ability to repay loans. If your spouse has a good credit score, that will tip the balance in your favour while the opposite is true of a spouse with a bad credit score.

Should you Share Your Finances with Your Spouse?

It may advisable to keep your financial accounts separate, especially on accounts where you are the one who uses it most. Even granting user authorization to your spouse allows your creditor to see your partner’s credit history.

If you’re unable to keep your finances separate, be prepared to have your history affect your spouse’s and vice versa. For example, when jointly applying for a credit card, the person with the lower credit score will raise the interest rate on your credit. In the case where both partners have a poor credit history, your application may not be approved at all.

Filing for Bankruptcy

If your spouse is unable to repay their debt, bankruptcy may be their best option. As long as their loans were made separate from you, most likely you aren't liable and in addition, your credit score won’t be affected. Before making the decision, it’s best to consult a professional bankruptcy trustee who will walk you through the important things to consider, such as finances, credit scores, repayment schedules, and plans to regain financial health.

Tips for Dealing with Bad Credit

● Taking your spouse’s last name will not erase your credit history, which is tied their Social Insurance Number

● For repairing bad credit, applying for a loan jointly can raise your spouse’s credit score. Another option would be to fix your credit score individually through prudent borrowing and repayment habits

● Always make your minimum payments! Even if you’re not making large payments to rid your debt, it’s crucial you make minimum payments as to not put yourself in larger debt than necessary

Venetia Rose has been a freelance writer and blogger. She loves to share and keep herself updated with the latest tips in financial consulting. Her interests are cooking, photography, craft and painting. Follow her on Face book https://www.facebook.com/laksh.venetia

Life Insurance Options for Older People

Life insurance is and will always be an important consideration for people of all ages, financial statues, the young and old and, single or married. It offers people feel the security and reassurance that their family members will be covered in an unfortunate event. This is something that probably is higher on the agenda for older people who wish to ensure that their spouse or dependants will be provided in the event of their death. Many companies now offer specific polices which are geared towards older people although the types of cover offered may vary. Different types of cover catered for different needs. This is why it is crucial to have a research around before you buy any type of insurance.

Whole Life Plans

This type of plan has no fixed end date and lasts until the policyholder dies. Then, as long as the payments for the plan have been kept up to date, a lump sum payment will be made to the policyholder's estate.

The main benefit of taking out a whole life policy is the fact that it has no fixed term. It is also possible to ensure that your estate can use the lump sum which is paid to cover any inheritance tax that may be incurred. This is done by putting the lump sum in trust and a specialist tax advisor will be able to provide detailed guidance on this issue.

There are several disadvantages to older people taking out a whole life policy. The payments must be carried on so that the policy does not lapse and this financial commitment may be difficult for people of an advanced age. Also the need for a high level of life insurance may decrease over time as dependents reach maturity and the need to provide for them lessens. Possibly the biggest disadvantage is that the payments for a whole term policy are often considerably higher than for a fixed term life insurance policy.

Fixed Term Plans

This type of life insurance policy runs for a set period, which is often about 25 years. If the policyholder dies within that period then a lump sum payment is made to the estate. However, if the policyholder dies after the policy has expired, even if it is only one day later, then no payment at all is made. Policyholders receive no return on their payments when the plan finishes.

The main advantage of a fixed term life insurance plan is the cost. The monthly payment will normally be quite low. It is also good if the policyholder is only looking to provide cover for dependents up to a certain point in their lives such as children completing university.

The disadvantage of taking out a fixed term life insurance policy is that it is impossible to plan exactly what will happen during the period of time that the policy will run and a longer-term policy may turn out to have been more suitable.

Whether you are interested in covering either yourself or a family member it is important to research on what is offered in the market. There are many different types of insurance policies and some may tick a few of the requirements boxes but not all. It is important to ask a person who deals with these issues before applying or purchasing a specific cover. Generally, an older person considering taking out a life insurance policy would be better opting for a fixed term plan unless they have genuine concerns over inheritance tax. If this is the case then it would be advisable to seek specialist advice before making a decision.

5 Signs You Need to File for Bankruptcy

Most people see bankruptcy as a bad thing. No one wants to have to file for it unless they absolutely have to. In fact bankruptcy is there to help people and businesses get their finances under control (Source: Abakhan &Associates Inc.). It may not be fun, but sometimes bankruptcy is necessary. There are many signs that you are heading in the direction of bankruptcy. The following are five of the more common signs, but this list if not exhaustive. 

Borrowing to meet expenses

You may be living on credit cards just to buy food and other basic necessities. If not the use of credit cards, you may be taking out payday loans to get you through to the next paycheck. Whatever your particular situation is, part of your economic survival is dependent upon borrowing. This situation will usually get worse, not better, and the total amount you owe will keep growing. 

One or more debts are in collections

Regardless of how many debts you have, if one or more of these debts are currently in collections, then you may need to file for bankruptcy. This debt may be a car loan that is overdue that is putting your car in danger of being repossessed, or you may be receiving phone calls from debt collectors. Debts in collection are a sign you do not have control of your finances.

Behind in your mortgage payments

This is a bad sign. Once you get behind on your mortgage payments, it can easily lead to foreclosure. Home lenders are notorious for adding late fees and penalties to mortgage payments that make catching up difficult. Bankruptcy can often save your home. In some cases when you file for bankruptcy, some late payments or other penalties may be forgiven. However, it most cases the late payments and penalties are put on hold. The creditors will not be able to collect if at all until your state of bankruptcy has been resolved.

Your savings is gone

Hopefully if you manage your finances correctly, you seldom to never have to touch your savings. If you have a savings account and it depleted, this is a warning sign that you may need to file for bankruptcy. In addition, if your retirement accounts have also been cashed in or you are considering cashing them in, you may need to file for bankruptcy. A bankruptcy can protect your retirement accounts.

You can only make the minimum payments on your credit cards

If you have sufficient income to pay the minimums on your debt each month, you may not think you are on the verge of bankruptcy, but the fact is, you are not making any progress in paying down your debt. The slightest disruption in your personal finances can easily tip you over the edge and into a bankruptcy. If you have multiple credit cards, it is a smart idea to narrow it down to one card. This will help you stay away from the temptation of using too much of your credit to the point that you can’t pay it back. However, you don’t want to get rid of all of your credit cards because you want to try to maintain the best line of credit as much as possible.

There is no single sign that indicates you are ready for a bankruptcy. However, if you can recognize the signposts as you travel down the road to a bankruptcy, you may be able to make necessary changes. At the very least, you will be ready to file for bankruptcy at an appropriate time and not undergo needless stress in your life by delaying the inevitable.