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Taking On Your Partner’s Debt: What to Ask Before You Consolidate

richard.barger@coldwellbankerprime.com — Thu, 14 Feb 2019 05:00:00 GMT

The following is a guest post by Jennifer Calonia. Having candid conversations with your partner about debt can feel uncomfortable, especially if you’re newlyweds or planning a marriage and future together. The reality, however, is that money is often the leading cause of anxiety and stress in a marriage. According to a 2018 study by […]

SAM SHALOMFEB 7, 2019

The following is a guest post by Jennifer Calonia.

Having candid conversations with your partner about debt can feel uncomfortable, especially if you’re newlyweds or planning a marriage and future together. The reality, however, is that money is often the leading cause of anxiety and stress in a marriage.

According to a 2018 study by Ramsey Solutions, a financial education resource, 86 percent of couples who got married in the last five years started out in debt. What’s more troubling is that couples with higher amounts of debt reported arguing more about money than respondents with less debt.

To avoid years of stress and heartache, have hard discussions early. Ask questions about each other’s debts and agree on a repayment strategy before you tie the knot. Communication can help turn a stressful situation into a marriage based on honesty and teamwork. If you and your spouse want to combine your debts, here are a few key areas to explore.

Questions All Newlyweds Should Ask Before Consolidating Debt

Before filling out consolidation paperwork or making permanent debt-related changes, start by assess ing each other’s financial health. Ask these core questions as you open the floor for conversations about debt.

1. How’s our credit?

Keep in mind that your credit scores and credit reports don’t magically combine once you’re married. These talking points foster transparency in your marriage about past and current debt. For example, a credit report covers active and closed lines of credit, recent inquiries, bankruptcies, and overdue debt.

Sharing these details will help you both learn about recurring financial habits that might be problematic when working toward your long-term goals, like buying a home. You and your spouse are also entitled to receive a free copy of your credit report every 12 months.

While your spouse’s poor credit history may not be a cause to end your union, surfacing credit concerns can help you both strategize a debt repayment plan together.

2. What’s our total debt?

In addition to reviewing each other’s credit reports and scores, you’ll want to calculate the hard numbers you’re up against – whether you’re planning to combine debt through formal debt consolidation or refinancing, or just want to figure out a plan for lowering your overall household debt.

Be sure to include every type of debt in your tally, including:

Credit cards
Mortgage
Personal loans
Student loans
Auto loans

Combine the remaining balances for each account and add up monthly payments, including the interest rates, so you have the full picture.

3. What’s our budget?

Another question to consider before consolidating your debt is determining your joint budget. What are your shared monthly expenses each month, such as:

Rent
Mortgage payments
Transportation costs
Healthcare
Utility bills
Loan payments
- Subscription services
- Emergency savings

Tally your total monthly expenses so you and your partner know how much of the household income is available to double-down on repaying debt, and how much is locked up for recurring expenditures.

4. What are our long-term goals?

Knowing where you and your sweetheart stand on long-term goals is critical to mapping out a debt repayment plan that works toward those goals. This conversation will likely lead to more questions, but that’s okay.

You may not be able to figure this one out in one sitting, but starting the conversation early helps guide decisions about your debt, like setting a deadline for being a debt-free couple.

5. Do we live in a community property state?

It’s helpful to know how you factor into your spouse’s debt liability on a legal level. In general, unless you cosign on your spouse’s debt (before or after getting married) or open a joint account after marrying, you’re not liable for their debt in the event of divorce or death.

However, if you live in a “community property” state, all assets and debts are considered community property, meaning that you’re both equally on the hook for the debt in a 50-50 split. The nine community property states are:

Arizona
California
Idaho
Louisiana
Nevada
New Mexico
Texas
Washington
Wisconsin

In these states, both spouses are equally responsible for any debt that accrued during the marriage (e.g., credit card debt or a car loan that your spouse took out without your consent) so setting ground rules about large purchases should be an important part of your debt reduction plan. The only exception to this rule is in the state of California, where educational loans are considered separate and not community property.

Strategies for debt repayment

As newlyweds, there are many ways to lower your debt together, so think creatively and come up with a plan that works best for your shared future and goals.

Here are a few strategies to repay your debt as a team, sooner rather than later:

Debt avalanche. This approach saves you more money on interest over the life of each loan. For this strategy, you’d pay the minimum on every account, but apply extra funds toward the debt with the highest interest rate. Once you’ve repaid the account in full, move on to the next highest interest rate account, and so on.
Debt snowball. This method is all about small wins to keep you motivated about paying off your debt. First, make the minimum payment on all your debts, but apply extra funds toward the account with the lowest balance After you successfully pay off one account, move on to the next highest balance, and so on.
Debt consolidation or refinancing. Another option to repay debt is through debt consolidation programs or refinancing, which combine multiple debts into one new loan. This approach requires a good credit score, but it may also carry a higher interest rate or longer repayment term (both of which might mean more cost in the long run).

You’ll both need consistency and communication to stick to your debt repayment plan. Whichever method you and your partner decide on, you should both acknowledge that you’re in it together. And don’t forget to celebrate the wins – no matter how big or small – along the way.

Romantic Plants for Your Valentine

richard.barger@coldwellbankerprime.com — Fri, 01 Feb 2019 05:00:00 GMT

Surprise your valentine with a thoughtful gift!

ALEXANDRA FILIACI

Guest post by Katie Kuchta

Valentine’s Day will soon be arriving, and you could give the traditional gift of roses and candy to your special someone, or you could surprise them with a gift that will stick around past the weekend. Giving a plant or a small container garden as a gift is something which lasts longer than either fresh cut flowers or chocolate. You could even give your beloved the flower of their birth month!

Flowers of the Month

When you present your special one a flower which is the flower of their birth month, it’s an endearing and sentimental way to say, “I love you.” You can order some of these plants from your local florist or garden center.

January: Carnation or Snowdrop
February: Primrose or Violet
March: Daffodil, Narcissus or Jonquil
April: Daisy or Sweet Pea
May: Lily of the Valley
June: Rose
July: Water Lily
August: Gladiolus
September: Aster
October: Marigold
November: Chrysanthemum
December: Narcissus

The Meaning of the Color of a Flower

Another thought to consider is what the color of a flower means. Each color can convey a special meaning for what you want to say on Valentine’s Day. Below are some common flower meanings:

Red: Love
Pink: Sweetness
Yellow: Friendship
Crimson: Respect
White: Purity
Orange: Eternal life
Purple: Modesty

Popular Plants

If you do decide to present your sweetheart with one of these plants, be sure to attach a note explaining what the plant means regarding Valentine’s Day. Here are some plants commonly shared between partners and represent romance:

Orchids

A delicate potted orchid is a perfect Valentine’s Day gift. Orchids come is a multitude of colors such as purple, pink, white, striped and yellow. An orchid conveys beauty, strength, endurance and, most of all, love.

Dwarf Willow

Since willow trees represent maternity and motherhood, it’s an excellent gift for a mother-to-be or a new mother. If twins are expected, give two plants. A willow tree can remain inside until any danger of frost is gone. Then it can be transplanted outside to represent the birth of the new child or children for years to come.

Lavender

A lavender plant is a luxurious way to show your love. Lavender can be made into sachets, body lotions, and soaps or just planted to enjoy its fragrance. Lavender means purity and feelings of sentiment.

Succulents

If you’d like to give a Valentine’s Day gift to a dear friend, this is an excellent choice. Succulents are native to Texas and most of the south, and have become increasingly popular with urban decor. Being drought tolerant–not only are they easy to maintainand unique looking but they mean endurance and longevity. Isn’t that what friendship is all about?

Match Plants to Your Significant Others Personality

Bold and Beautiful

If your sweetheart is bold and beautiful, you might consider buying a Red Aglaonema. This flower has bold colors and showy leaves for the person who likes to dazzle. It’s streaked with shades of pink and bright red. It’s an easy houseplant to grow and can be grown for years. It can be grown in bright or low light and isn’t fussy about water.

Glamorous and Mysterious

An Anthurium is a gift for your Valentine if they have a taste for the exotic. It has heart-shaped, glossy leaves and tropical-looking flowers. The flowers come in beautiful shades of pink, red, purple, orange, and white. It blooms off and on all year and the flowers last for months if the growing conditions are right. It loves humidity and warmth.

As you can see, you can dare to be different for this Valentine’s Day; your sweetheart will be pleasantly surprised.

Trends in Landscaping Design to Try This Year

richard.barger@coldwellbankerprime.com — Thu, 31 Jan 2019 05:00:00 GMT

Here’s a list of this years most up and coming popular trends to modernize your landscaping and add a touch of refreshing curb appeal.

SAM SHALOM

The following is a guest post by Cat Murphy.

Whether you’re trying to sell your home or update the one you recently bought, there are plenty of ways to modernize your landscaping and add a touch of refreshing curb appeal. The latest trends include homeowners stepping outside the box with landscaping designs that have Mother Nature’s best interest at heart. Here’s a list of this years most up and coming popular trends.

Growing Produce

If you’re going to add plants to the garden, you might as well also grow something to eat. Planting edible options, like fruits and vegetables, is a great way to add interest and beauty to your landscaping that also offers plenty of health benefits. Growing food in your yard is a trending design that allows you and your guests to appreciate how food is grown. It’s also great for the environment and helps cut down on the weekly grocery budget. Choose fruits and vegetables that thrive in your community for an easier way to manage your garden.

Privacy

Speaking of privacy, you don’t have to install an ugly wooden fence. Plant a quick growing hedge or shrub to provide an extra barrier between your outdoor living space and your neighbors. Even a low growing shrub, like a boxwood, can create a semi-private feel to an area without hindering the view. Planting trees is another excellent way to add privacy and natural beauty to compliment a house.

Asymmetry

Shapes found in nature are rarely perfectly straight lines. Many homeowners now prefer the creativity of nature by reflecting curved or slanted lines in their landscaping. Slight curves on the outside edge of a garden bed and curved walkways are trending right now. These asymmetrical lines not only make your home more appealing, but they also create a softer overall look that embraces nature’s shapes. You can also include a free formed garden bed in the middle of a large lawn space that will add value to your home as well. Be sure to use a weed eater to properly trim all edges for the best look possible.

Xeriscaping

So you want a beautiful lawn and garden, but what if you don’t have time to keep it maintained? Xeriscaping is both a popular landscaping technique and design that incorporates plants acclimated to a specific region and decreases the amount of maintenance by using less turf. These plants are typically locally native plants that require little to no added water. They do well in the current climate conditions of the area and can be left alone for the most part.

Xeriscaping also encourages homeowners to replace lawn areas with non-organic mulching options, like stone, to create a truly unique look. While xeriscapes are more common in arid regions of the country, some homeowners use this type of landscaping in smaller portions of their yard that are either hard to access or have trouble growing other plants.

Adding any one of these landscaping techniques to your yard will help raise the overall curb appeal of your home. Consider changing a problem spot in the yard to a xeriscape or adding plants that provide nutritious food options. Creating privacy with quick growing plants as well as incorporating curved lines into your yard are other trends in landscaping design to try this year.

How to Pet Proof Your Home and Yard

richard.barger@coldwellbankerprime.com — Fri, 25 Jan 2019 05:00:00 GMT

Pet Proofing 101

LINDSAY LISTANSKI

As you may have guessed from our latest ad “Somebody to Love” we truly believe that a pet makes a house a home. Because our pets are so important to us ensuring they are safe is crucial. We reached out to our friends at HomeAdvisor to see if they had any tips to do so and as usual they came through with paw-sitively awesome advice.

When pet-proofing one’s home and yard, it is important to look at items from a pet’s standpoint and consider what things they are likely to play with, chew, or otherwise get into. If these items can hurt or even kill, then they should be removed or relocated into an area that the animal cannot access. Pet-proofing a home can take time and even some research so that it is done properly. Pet owners should also take into consideration the damage that a pet can cause to their personal belongings and take steps to prevent that as well. Ideally, pet-proofing should occur before bringing a new pet home; however, it can be done during a home improvement project or at any given time.

Bathrooms and Laundry Rooms

Toilet bowls are filled with water and often tempt pets to drink from them. This can cause a pet to drown, or it may poison them if toilet bowl cleaners are inside. The bathrooms and laundry room of a home are filled with a number of other items that are toxic to pets. Medications, both prescription and otherwise, are often kept in a bathroom, as are things such as bathroom cleaners, chemical drain openers, and deodorizers. Sharp items such as razors are also kept in bathrooms and can cut and seriously injure a pet that plays with or swallows them.

Laundry rooms are also a place where chemicals such as bleach and detergent are stored and regularly used. Fabric softener sheets may seem harmless; however, they are often impregnated with chemicals. Open dryers are tempting to pets that may climb inside to sleep, stay warm, or hide. This can be dangerous if the door is accidentally shut and the machine turned on.

Place any medications into a medicine cabinet and keep it closed.
Close the doors to the washing machine and dryer when not in use.
Check inside the washing machine and dryer before starting, particularly if it was left open and unattended.
Store laundry and bathroom cleaners and other chemicals inside of a cabinet. If a pet can nudge open a cabinet, use child locks or higher cabinets.
Close the lid to the toilet when not in use.

Living Rooms

In the living room, there are numerous items that are a threat to one’s pet. Unstable or top-heavy furniture can fall if jumped on or if bumped hard by a playful animal. Many types of potted house plants are known to be toxic if chewed or swallowed. The cords to drapery and window blinds are a choking hazard if they accidental loop around a pet’s neck, while electrical cords, if chewed on, can shock or electrocute one’s pet or start a fire.

Certain items need to be protected so that pets do not damage or knock them over. Candles, for example, can either catch a pet’s tail on fire or may be knocked over and start a fire. Furniture and toys must also be protected, as they risk damage from chewing and scratching or they may cause a pet to choke. Certain items that contain batteries can be swallowed and will poison a pet or cause internal burns.

Move or cover cords and electrical wires so that they are not easily reached or cannot be chewed on.
Never leave candles unattended.
Place a fire screen in front of fireplaces that are in use.
Keep a toy chest for children’s toys and put them away when they are not being played with.
Properly dispose of old batteries and keep all others in a closed drawer or cabinet.
Check what plants are and are not poisonous to the type of pet in the home. Only purchase plants that are not toxic.

Kitchens

Kitchens are an overall dangerous place for pets to be. Jumping pets have access to countertops and tables, while all animals can easily get to anything that’s within their reach, such as kitchen trash cans or food on the table. When it comes to threats, food is the most obvious culprit, as certain items, such as chocolate and raisins, are toxic while others represent a choking hazard.

Kitchen cleaners such as liquid soap and bleach are also poisonous. Curious animals may crawl into a small space under and around the refrigerator or oven, while others may actual climb into an opened dishwasher and could be trapped within if someone closes it without checking it.

Only use garbage cans with secure lids, and ensure that they are closed at all times.
Keep cleansers locked away in a cabinet with childproof locks.
Block access to small spaces that lead behind the refrigerator or other appliances.
Put food in covered containers instead of leaving it exposed on a counter or table.
Keep utensils in a closed drawer, and push breakable china back on counters where it cannot easily be knocked down and broken.
Consider installing a safety gate to keep pets out of the kitchen while cooking.

Bedrooms

Although the bedroom may seem like an overall safe place for pets, it is the unexpected, little things that can prove problematic for pets. Electrical cords are dangerous to pets that are chewers, and small items such as earrings and hair pins may also be chewed or swallowed. Discarded shopping bags are a suffocation risk if a pet sticks its head inside and is unable to shake it off. Moth balls in closets or drawers are toxic, as are certain house plants that may be kept in the room.

Keep windows closed, particularly on the upper floors, to prevent pets from falling out.
Check that all windows have screens that are secure and in good condition.
Place mothballs in a location where they cannot be reached. If there are cats, keep the mothballs in a container.
Use containers or jewelry boxes to store jewelry or hair pins.
Cover cords or keep them out of reach.
Check closets and drawers before closing them to ensure that kittens or other small pets are not hiding inside.

Garages and Basements

Garages and basements are two areas where a pet will likely spend the least time. Unfortunately, they are both areas that are highly dangerous no matter how much time a pet spends there. Because these are areas outside of the main house and protected from the elements outdoors, they are places where deadly chemicals and other potentially lethal items are stored.

Toxic items that are commonly stored in garages and even basements include antifreeze, which is sweet-tasting but can cause a cat or a dog’s kidneys to fail if consumed. Motor oil, gas, battery acid, and car wax are just a few other dangerous car-related items. Additionally, pesticides, rat poison, paint, and paint thinners are examples of items kept in either location that can be lethal to a pet. Sharp and small items can cause injuries if stepped on or if swallowed, and even machinery, including one’s car, can be lethal.

Store screws and nuts in jars with lids.
Install cabinets to store chemicals, and keep them closed when not in use.
Verify the safety of any plants kept in the room.
Regularly check the floor of the garage for spilled or leaked antifreeze. Clean thoroughly as soon as possible.
Always check for cats or kittens in the car engine by banging on the hood prior to starting the car.
Unplug electrical tools and store them where they can’t fall.

Yard

Often, pets such as dogs and even cats like to go outdoors for a little playtime or to bask in the sun. Nature, however, represents numerous threats to pets as they spend time in the yard. Gardens, weeds, and other naturally occurring plants and flowers can all seem appealing to a cat, dog, or other outdoor-venturing pet.

Certain items that are used on the lawn, flowers, and plants, such as fertilizers, pesticides, mulch, and compost, may contain chemicals or elements that a pet should not eat, drink, or lick. Cocoa mulch, for example, is toxic, yet the smell is tempting to animals, and compost may contain food items that pets can choke on or that is toxic to them. Care must be taken to also protect pets in yards with fire pits or outdoor fireplaces, pools, and ponds.

Install a fence around the yard to keep stray animals out and pets in.
Remove poisonous plants from the yard, and check with a knowledgeable nursery before planting anything new.
Put a barrier around gardens to keep pets out.
Never leave pets alone when a fire pit is in use.
Add fencing around pools to keep unaccompanied pets away.
Use an enclosed shed to store chemicals, or keep them in a cabinet in the garage.
Consider creating a fenced-off area specifically for a dog to play in when outdoors.

This content originally appeared on HomeAdvisor

Lindsay Listanski

Lindsay is the the Director of Media Engagement for Coldwell Banker Real Estate and manages the brand’s media and social media department. She is also a licensed real estate professional. In 2017 & 2018, she was named a top 20 social influencer in the real estate industry in the annual Swanepoel 200 power rankings.

Lindsay lives in Livingston, NJ with her college sweetheart and now husband Joe and rwelcomed another Joe into her life as she became a mom in June 2016.