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Cheaper Gas: Quick Tips To Save Money At The Pump


Best way to save money on gas how to save money on gas how to save gas money tips on how to save gas how to get cheaper gas how to get gas for cheap cheaper gas and electricity deals cheaper gas and electric for disabled
Cheaper Gas: Quick Tips to Save Money at the Pump


Cheaper Gas: Quick Tips to Save Money at the Pump

What's happening

Gas prices have dropped from record-high levels but are still much higher than last year.

Why it matters

With prices so high, using less gas and paying less for fuel can add up to sizable savings.

Gas prices  have retreated from their record high of $5.02 a gallon on June 16, but they're still 9% higher on average than last year at this time -- that's about $11 more to fill up a 15-gallon tank.

Fluctuating oil production and the war in Ukraine are contributing to higher prices at the pump. And while there's not much that individual motorists can do about those factors, there are several ways to save money on gas. 

Read on for details on price trackers, tips for improved fuel efficiency, club memberships and more.  

Track local prices

GasBuddy is a well-known website for tracking gas prices in the US and Canada. It also provides data for the US Office of Energy Efficiency & Renewable Energy's gas tracker pages. The sites present the information in different ways -- try them both to see which you prefer. GasBuddy is available on the web or via mobile apps for Android and iOS, although critics have raised concerns about its data tracking and privacy policies.

A row of gas pumps and a sign showing prices in the upper 300s
Justin Sullivan/Getty Images

Geico also provides a helpful local gas station tracker: Enter an address, city or ZIP code plus a maximum distance area, and Geico will return a detailed list and map with regular, midgrade and premium gas prices as well as directions to stations.

AAA provides a gas price tracker in its mobile app (Android, iOS), as does Gas Guru (Android, iOS), and you can check gas prices in your vicinity when using navigation apps like Waze and Google Maps. 

Get money back from gas cards and fuel rewards programs

Major gas stations typically offer credit cards and reward programs that give you a percentage back. Speedy Rewards offers a $25 gift card when you reach 500 points, or 50 gallons of gas. At $5 a gallon, that's 10% back on your gas spending.

Shell and BP claim you'll save at least 5 cents per gallon with their respective reward programs, and ExxonMobil says you'll get at least 3 cents off. Be sure to review the terms of each program to see exactly what percentage of your gas spending you'll be getting back.

Supermarket chains also offer rewards programs: For every $100 you spend on groceries at Safeway or Kroger for example, you'll get 10 cents off gasoline the next time you fill up. Kroger works with Shell and Kroger Fuel Centers, while Safeway's program works at Chevron, Texaco and Safeway stations. 

Pay for gas with cash 

A GasBuddy screen showing lower prices for cash than credit

GasBuddy shows both credit and cash prices if there is a difference.

Screenshot by Peter Butler/CNET

The practice of charging less for gasoline for customers paying cash varies by region and individual gas station: In Los Angeles, several gas stations offer 20-cent discounts for cash, especially for premium gas.

That difference can quickly add up: You could save $3 every time you completely fill a 15-gallon tank, or $156 a year if you top off weekly. (Just watch those ATM fees: If you're paying $2 to $3 to get your cash each time, you could be losing money.)

Check your tire pressure

Making sure your tires are properly inflated can boost gas mileage by 3%, according to the US Department of Energy. At current prices, that could save you about 15 cents per gallon.

But 60% of car owners only check their tire pressure if an indicator light turns on, according to Jiffy Lube's Vehicle Maintenance Survey. A tire pressure gauge can monitor the health of your tires and only costs about $10 to $20. 

When tires wear down to a depth of 1/16th of an inch, they're considered "bald" and should be replaced right away. 

A recommended fuel efficient trip

Google Maps will recommend routes designed to save gas.

Screenshot by Cliff Colby/CNET

Map your route

Google Maps can also boost your miles per gallon by recommending certain routes that avoid hills and traffic, resulting ideally in more constant driving speeds. Fuel-efficient routes are available on the mobile Android and iOS apps, though the feature hasn't been rolled out to all users yet.

To turn on fuel efficiency in Google Maps, tap the three dots on the directions screen, then tap "Route options" and toggle the "Prefer fuel-efficient routes" option on.

Other fuel-tracking mobile apps like Fuelio and JerryCan suggest methods of improving your fuel efficiency as well as tracking gas prices at stations. JerryCan claims that drivers using its app can improve their fuel efficiency by up to 20%.

Try a club membership for discounted gas prices

Costco, Sam's Club and Walmart Plus all offer discounted gas prices to members. Walmart Plus charges 5 cents less at its fueling centers, plus access to all Sam's Club locations. Memberships cost $13 a month or $98 a year, while Sam's Club memberships range between $45 and $100 per year.

Costco fuel prices are almost always significantly lower than at traditional gas stations, generally about five to 25 cents, according to Consumer Reports. Its June 10 review of gas prices found a 34-cent discount on Costco gas in Independence, Missouri, compared to the closest commercial gas station. Costco memberships cost between $60 and $120 per year.

Warning: Due to the record-high prices nationally, gas lines at Costco have become notoriously long.

Buy discounted gas cards through resellers

Gift cards are a popular choice for easy presents, but as you might expect, not all of those gift cards get used. A variety of resellers let consumers hock their unused gift cards or buy them on the cheap.

Raise and Gift Card Granny are two sites that let users buy and sell unused gift cards from Chevon, Texaco, Shell, BP and other gas providers. As you might guess, most discounted gas gift cards are sold out right now, but you can set up alerts for when new ones come in.

Be careful to check the actual price discount and other specifics of any card -- both sites also sell gift cards at retail rates, and Gift Card Granny also sells reward cards.

Become a master of fuel efficiency

You can ease gas consumption quite a bit by learning basic fuel-efficiency practices. Advice for saving gas while driving abounds on the internet, and AAA has compiled some great tips. Here are a few of the biggest savers:

  • Drive the speed limit, especially on the freeway. Fuel economy drops sharply once you start driving faster than 50 mph.
  • Ease up on the acceleration. "Jackrabbit starts" -- when a car lurches forward very quickly -- are a major gas waster. Accelerating smoothly will also let automatic transmissions shift to higher gears earlier, saving more fuel.
  • Avoid extended idling. You're going nowhere while burning up your gas. If it's going to be longer than 60 seconds, turn off your engine.
  • Minimize air conditioning. Even at high speeds, open windows hurt your fuel efficiency less than air conditioning. Park in the shade or use a windshield screen to keep your car as cool as possible in summer.
  • While driving in the city, time traffic lights so that you don't need to stop and start. Similarly, take your foot off the gas as soon as you see a red light or near a stop sign. The less braking and accelerating, the more gas you will save.

Go even further with hypermiling

Hypermiling is the practice of maximizing fuel efficiency to the ultimate degree, from choosing routes that require less braking and accelerating to cleaning out your trunk to lower your vehicle's weight. 

Hypermilers might even park facing the sun when it's cold to conserve energy spent defrosting their windshield, and in the shade when it's cool to save on AC.

In the video below, CNET's Brian Cooley explains how drivers can adapt extreme hypermiling techniques to increase their own fuel efficiency.

Consider bicycles, public transit and electric vehicles

Soaring gas prices provide a timely opportunity to wean yourself off gasoline-based transportation. Riding a bike or using public transit more often will obviously help decrease your gasoline costs.

Similarly, if you can afford an electric vehicle it will certainly reduce your gas usage. It's not just Tesla -- Hyundai, Ford, Porsche, Audi and many other automakers sell electric cars. Bonus: You'll be fighting pollution and climate change at the same time as you're saving money. 

Check out CNET Cars' list of the best electric vehicles to learn about the latest and greatest EV cars.

The editorial content on this page is based solely on objective, independent assessments by our writers and is not influenced by advertising or partnerships. It has not been provided or commissioned by any third party. However, we may receive compensation when you click on links to products or services offered by our partners.


Source

Cheaper Gas: Quick Tips To Save Money At The Pump


Trick to save money on gas how to save money on gas prices how can i save money on gas best way to save on gas prices best way to get cheap gas how to get gas for cheap best gas saving tips cheaper gas and electricity
Cheaper Gas: Quick Tips to Save Money at the Pump


Cheaper Gas: Quick Tips to Save Money at the Pump

What's happening

Gas prices have dropped from record-high levels but are still much higher than last year.

Why it matters

With prices so high, using less gas and paying less for fuel can add up to sizable savings.

Gas prices  have retreated from their record high of $5.02 a gallon on June 16, but they're still 9% higher on average than last year at this time -- that's about $11 more to fill up a 15-gallon tank.

Fluctuating oil production and the war in Ukraine are contributing to higher prices at the pump. And while there's not much that individual motorists can do about those factors, there are several ways to save money on gas. 

Read on for details on price trackers, tips for improved fuel efficiency, club memberships and more.  

Track local prices

GasBuddy is a well-known website for tracking gas prices in the US and Canada. It also provides data for the US Office of Energy Efficiency & Renewable Energy's gas tracker pages. The sites present the information in different ways -- try them both to see which you prefer. GasBuddy is available on the web or via mobile apps for Android and iOS, although critics have raised concerns about its data tracking and privacy policies.

A row of gas pumps and a sign showing prices in the upper 300s
Justin Sullivan/Getty Images

Geico also provides a helpful local gas station tracker: Enter an address, city or ZIP code plus a maximum distance area, and Geico will return a detailed list and map with regular, midgrade and premium gas prices as well as directions to stations.

AAA provides a gas price tracker in its mobile app (Android, iOS), as does Gas Guru (Android, iOS), and you can check gas prices in your vicinity when using navigation apps like Waze and Google Maps. 

Get money back from gas cards and fuel rewards programs

Major gas stations typically offer credit cards and reward programs that give you a percentage back. Speedy Rewards offers a $25 gift card when you reach 500 points, or 50 gallons of gas. At $5 a gallon, that's 10% back on your gas spending.

Shell and BP claim you'll save at least 5 cents per gallon with their respective reward programs, and ExxonMobil says you'll get at least 3 cents off. Be sure to review the terms of each program to see exactly what percentage of your gas spending you'll be getting back.

Supermarket chains also offer rewards programs: For every $100 you spend on groceries at Safeway or Kroger for example, you'll get 10 cents off gasoline the next time you fill up. Kroger works with Shell and Kroger Fuel Centers, while Safeway's program works at Chevron, Texaco and Safeway stations. 

Pay for gas with cash 

A GasBuddy screen showing lower prices for cash than credit

GasBuddy shows both credit and cash prices if there is a difference.

Screenshot by Peter Butler/CNET

The practice of charging less for gasoline for customers paying cash varies by region and individual gas station: In Los Angeles, several gas stations offer 20-cent discounts for cash, especially for premium gas.

That difference can quickly add up: You could save $3 every time you completely fill a 15-gallon tank, or $156 a year if you top off weekly. (Just watch those ATM fees: If you're paying $2 to $3 to get your cash each time, you could be losing money.)

Check your tire pressure

Making sure your tires are properly inflated can boost gas mileage by 3%, according to the US Department of Energy. At current prices, that could save you about 15 cents per gallon.

But 60% of car owners only check their tire pressure if an indicator light turns on, according to Jiffy Lube's Vehicle Maintenance Survey. A tire pressure gauge can monitor the health of your tires and only costs about $10 to $20. 

When tires wear down to a depth of 1/16th of an inch, they're considered "bald" and should be replaced right away. 

A recommended fuel efficient trip

Google Maps will recommend routes designed to save gas.

Screenshot by Cliff Colby/CNET

Map your route

Google Maps can also boost your miles per gallon by recommending certain routes that avoid hills and traffic, resulting ideally in more constant driving speeds. Fuel-efficient routes are available on the mobile Android and iOS apps, though the feature hasn't been rolled out to all users yet.

To turn on fuel efficiency in Google Maps, tap the three dots on the directions screen, then tap "Route options" and toggle the "Prefer fuel-efficient routes" option on.

Other fuel-tracking mobile apps like Fuelio and JerryCan suggest methods of improving your fuel efficiency as well as tracking gas prices at stations. JerryCan claims that drivers using its app can improve their fuel efficiency by up to 20%.

Try a club membership for discounted gas prices

Costco, Sam's Club and Walmart Plus all offer discounted gas prices to members. Walmart Plus charges 5 cents less at its fueling centers, plus access to all Sam's Club locations. Memberships cost $13 a month or $98 a year, while Sam's Club memberships range between $45 and $100 per year.

Costco fuel prices are almost always significantly lower than at traditional gas stations, generally about five to 25 cents, according to Consumer Reports. Its June 10 review of gas prices found a 34-cent discount on Costco gas in Independence, Missouri, compared to the closest commercial gas station. Costco memberships cost between $60 and $120 per year.

Warning: Due to the record-high prices nationally, gas lines at Costco have become notoriously long.

Buy discounted gas cards through resellers

Gift cards are a popular choice for easy presents, but as you might expect, not all of those gift cards get used. A variety of resellers let consumers hock their unused gift cards or buy them on the cheap.

Raise and Gift Card Granny are two sites that let users buy and sell unused gift cards from Chevon, Texaco, Shell, BP and other gas providers. As you might guess, most discounted gas gift cards are sold out right now, but you can set up alerts for when new ones come in.

Be careful to check the actual price discount and other specifics of any card -- both sites also sell gift cards at retail rates, and Gift Card Granny also sells reward cards.

Become a master of fuel efficiency

You can ease gas consumption quite a bit by learning basic fuel-efficiency practices. Advice for saving gas while driving abounds on the internet, and AAA has compiled some great tips. Here are a few of the biggest savers:

  • Drive the speed limit, especially on the freeway. Fuel economy drops sharply once you start driving faster than 50 mph.
  • Ease up on the acceleration. "Jackrabbit starts" -- when a car lurches forward very quickly -- are a major gas waster. Accelerating smoothly will also let automatic transmissions shift to higher gears earlier, saving more fuel.
  • Avoid extended idling. You're going nowhere while burning up your gas. If it's going to be longer than 60 seconds, turn off your engine.
  • Minimize air conditioning. Even at high speeds, open windows hurt your fuel efficiency less than air conditioning. Park in the shade or use a windshield screen to keep your car as cool as possible in summer.
  • While driving in the city, time traffic lights so that you don't need to stop and start. Similarly, take your foot off the gas as soon as you see a red light or near a stop sign. The less braking and accelerating, the more gas you will save.

Go even further with hypermiling

Hypermiling is the practice of maximizing fuel efficiency to the ultimate degree, from choosing routes that require less braking and accelerating to cleaning out your trunk to lower your vehicle's weight. 

Hypermilers might even park facing the sun when it's cold to conserve energy spent defrosting their windshield, and in the shade when it's cool to save on AC.

In the video below, CNET's Brian Cooley explains how drivers can adapt extreme hypermiling techniques to increase their own fuel efficiency.

Consider bicycles, public transit and electric vehicles

Soaring gas prices provide a timely opportunity to wean yourself off gasoline-based transportation. Riding a bike or using public transit more often will obviously help decrease your gasoline costs.

Similarly, if you can afford an electric vehicle it will certainly reduce your gas usage. It's not just Tesla -- Hyundai, Ford, Porsche, Audi and many other automakers sell electric cars. Bonus: You'll be fighting pollution and climate change at the same time as you're saving money. 

Check out CNET Cars' list of the best electric vehicles to learn about the latest and greatest EV cars.

The editorial content on this page is based solely on objective, independent assessments by our writers and is not influenced by advertising or partnerships. It has not been provided or commissioned by any third party. However, we may receive compensation when you click on links to products or services offered by our partners.


Source

https://nichols.my.id/how-to-fix-zipper-bag-not-closing.html

.

How To Finance Your Solar Panels: Cash, Loan, Lease And More


Getting a loan for solar panels how to pay for solar panels financing options for solar panels solar panels 0 finance uk best way to finance solar system how to finance how to finance an investment property
How to finance your solar panels: Cash, loan, lease and more


How to finance your solar panels: Cash, loan, lease and more

Whether you're looking to save money, avoid paying so much to your utility or keep some carbon out of the atmosphere, homeowners are generating their own energy with rooftop solar. By some estimates, 13.4% of homes will have solar panels installed by 2030.

While prices are dropping steadily (though supply chain snags have pushed them up recently), rooftop solar costs thousands of dollars, sometimes tens of thousands. Most people don't have that kind of cash laying around, but there are plenty of options for paying for solar.


Advertiser Disclosure : CNET's corporate partner, SaveOnEnergy, can help you find the right energy fit for your home. The SaveOnEnergy marketplace helps you search, compare, sign up and save on the right energy fit for your home — all for free. If you're interested in solar, answer a few questions to get an exact price quote from our solar advisors.  


"Financing has always been an issue," said Roger Horowitz, director of co-ops at Solar United Neighbors, a nonprofit and advocacy group helping people adopt solar in 11 states. Being able to finance solar is often dependent on having a bunch of cash, good credit and owning a home. 

This article aims to hit some of the highlights of solar financing, but it should not be taken as financial advice. For that you'll have to find someone more qualified to determine whether going solar makes financial sense for you and how to best pull it off. 

Buying solar panels with cash

Arguably the most straightforward way to buy solar panels is with cash, and the benefits are clear. With a cash payment you avoid paying interest and loan fees and don't need a qualifying credit score. As a result, you'll save more money over the life of your solar panels. 

You do have to cough up more cash up front, however, so it will take a while before you recoup the money that you've spent. That period of time is called a payback period, and it's a useful piece of information when deciding whether or not paying in cash is a good option for you. The average payback period is eight years in the US, and you can find help calculating your payback period here.

A cash purchase gives you the opportunity to take advantage of the federal solar tax credit. If your solar panels are fully installed through 2022, the US government will give you 26% of the cost back when you file your taxes. In 2023 the credit falls to 22% and will disappear after that, barring new legislation.

That means you could be getting thousands of dollars back, but it also means you don't get that money back until tax time.

Paying cash works best for folks who have a stable cash flow and can absorb such a large one-time payment, said Grant Klein, senior dealer relations specialist at Clean Energy Credit Union.

Buying solar panels with a loan

If you can't afford to pay all at once, solar loans are widely available from a number of sources and in a number of forms, though a poor credit score might disqualify you.

It's increasingly common for solar providers to offer loans, often from a third party. While these loans are easy to apply for, they can have higher fees associated with them than options from a bank or credit union.

"The vast majority of folks that purchase solar that we see end up using loans from their installers," Horowitz said. He pins that apparent preference on how easy it can be to get a loan in that way. However, getting multiple loan proposals (at least two, Horowitz said) can save you significant money.

One such option is a home equity loan or home equity line of credit, where you borrow against the equity of your house (what you could get for selling it minus what you owe on your mortgage). You can borrow up to 85% of that amount, according to the Federal Trade Commission.

You can claim the federal solar tax credit if you purchase solar using a loan, though it comes back to you when you file your taxes, not when you buy your system. Still, it might be useful in paying back the loan.

Solar loans can be secured or unsecured. A secured loan is one that's backed by collateral, like your house or the solar panels themselves. Essentially, you're saying the lender can sell your collateral to pay off the loan if you fail to pay it. Solar loans are most often secured by the solar equipment, Klein said. Home equity loans are secured by the value in your house. Unsecured loans don't have that guarantee backing them up. As a result, secured loans offer lower interest rates and longer terms for paying them back. 

With any of these options, it's important to shop around and compare lenders. Again, this article isn't to be considered as financial advice. 

Getting help from the government to buy solar panels

Beyond the federal solar tax credit, the federal government (and sometimes your state) can help with a couple of other financing options.

A HomeStyle energy mortgage from Fannie Mae allows you to add the cost of a solar project into your new or refinanced mortgage. The Federal Housing Administration offers similar additions to mortgages. The amount of money you can borrow is determined based on the value of your home. 

One of the advantages of an energy efficient mortgage is that you're borrowing money once instead of twice. That means you only pay one set of loan costs and fees, and you can pay it back over 30 years, instead of 10 or 15 as can be the case with other solar loans. This keeps your monthly payment low. Not every lending institution offers loans from these programs and the borrowing process can be complicated.

"They tend to be more complicated, because you need to make so many phone calls to reach the right people," Horowitz said. That can place an extra burden on people who have fewer financial resources, the people the program is meant to help. It's important to work with an institution who knows how to navigate these systems, Horowitz said. 

An energy efficient mortgage can be used for other energy saving equipment in addition to solar panels such as new insulation, new windows and doors, smart thermostats or water efficiency improvements. Whatever the upgrade, it must be cost effective, which means it needs to save more money over its lifetime than it costs. For most places in the country, solar panels are sure to satisfy that requirement.

gettyimages-1271527210
Johner Images/Getty Images

Another option is Property Assessed Clean Energy, which deserves a brief mention despite only being available to residential customers in California, Florida and Missouri. Working with a local PACE office, you can finance your solar panels and pay back the loan over a longer period of time through an additional charge on your taxes. In theory, this makes large purchases more affordable, though early iterations of the program have actually buried some low income homeowners with debt and the possibility of foreclosure. New regulations passed by state legislatures could fix this problem.

Getting solar through a lease or power purchase agreement

If buying solar using cash or a loan is out of reach because of poor credit, lack of cash or some other reason, you still have options. Instead of buying, you can enter into a lease or power purchase agreement with a solar provider. With both options, lumped together as third-party-owned solar, the solar provider owns the panels and you agree to pay for the equipment (via lease) or pay for the power (power purchase agreement), usually at a lower price than you pay your utility.

CNET went into detail on power purchase agreements earlier, but briefly, here's what you need to know.

The biggest benefits to these arrangements are that you don't have to buy solar panels to get solar power. Usually you'll save money on power over the life of your agreement, too. And you won't have to worry about the maintenance of the panels, although maintenance usually isn't a huge burden.

Power purchase agreements usually save you less money than buying panels outright. And, depending on the price of your lease or power purchase agreement and how much your payment increases over time, you could end up saving significantly less. The federal tax credit also goes to the owner of the system, in this case the solar company.

Because these agreements commonly last for 25 years, they work best if you plan to stay in your house long term. Anecdotal reports reveal moving to a house with third-party-owned solar panels can be onerous and expensive. What happens if you move is something you'll want to be sure of before sticking third-party-owned solar panels on your roof.

Also, be aware that third-party ownership of solar panels isn't allowed in every state.

Which solar financing option is best?

Sorry! I'm not giving financial advice here. Before making any decision, make sure you get the advice you need from someone qualified, get multiple offers on solar projects or loans, and make a point of reading all the fine print.

Are there finance options I left out? Others you're curious about? Did you finance solar panels in a way that worked perfectly for you? Reach out via comments and let me know.


Source

https://residencec.costa.my.id/

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Home Equity Loan Rates For September 2022


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Home Equity Loan Rates for September 2022


Home Equity Loan Rates for September 2022

With record-breaking home appreciation seen throughout the pandemic, most homeowners have more equity in their homes now compared to two years ago. If you need access to funds for a renovation project, education expenses or even debt consolidation, tapping into your home's equity could provide you with a lower-rate financing option. A home equity loan, which lets you borrow money against the equity you've built in your home, provides you with a lump sum of cash at a fixed interest rate. 

Home equity loans may be particularly appealing in the current economic climate. Mortgage rates overall have gone up more than 2% since the beginning of the year. Even though rates recently dipped as the Federal Reserve increased its benchmark interest rate for the fourth time this year in an attempt to combat rising inflation, home equity loans still tend to offer lower interest rates than other types of loans. That's a significant benefit for anyone looking for financing at a time when it's uncertain how much rates will fluctuate moving forward. 

This type of financing may make sense if you own a home and have at least 15% to 20% of equity built up in your home. Unlike a home equity line of credit, or HELOC, you'll receive the sum of the loan upfront in one lump payment if you're approved.

A home equity loan is a lower interest rate financing option, but it's not without risk. When you secure a home equity loan, your home acts as collateral, which means you could lose your home if you're unable to repay what you borrowed. It's important to carefully consider whether a home equity loan is right for you before applying for financing.

Here's everything you should know about home equity loans, how they work, who they're best for and how they compare to other loan options.

What is a home equity loan?

A home equity loan offers you a lump sum of cash you borrow against the equity built in your house. Tapping into your home's equity means you are borrowing against the mortgage payments you've already made -- it won't replace your existing mortgage payment -- it's a new loan that you'll repay monthly, along with your existing home loan.

Most lenders require you to have 15% to 20% of equity in your home to secure a home equity loan. To figure out how much equity you have, subtract your remaining mortgage balance from the value of your home. For example, if you have a $500,000 mortgage and you owe $350,000 on it, you have $150,000 in equity. To figure out the percentage, divide this number ($150,000) by your home's value ($500,000) and you'll see you have 30% equity available in your home. Lenders will typically let you borrow around 80% to 85% of your home's equity for a home equity loan. So, in this case, you could borrow up to $120,000 to $127,500. 

A standard repayment period for a home equity loan is between five to 30 years for a home equity loan. You make fixed-rate payments that never change, which means even if interest rates go up, your loan rate is locked in. 

Current home equity loan rate trends

One of the benefits of home equity loans is that they typically have lower interest rates than personal loans or credit cards. Right now, borrowers with good credit and sufficient equity can secure home equity loans with interest rates as low as 3%, according to Bankrate, which is owned by the same parent company as CNET.

One potential downside of a home equity loan is that if your property value goes down for any reason, you could end up underwater on your loan. This happens when the balance of your loan becomes higher than the value of your home. That's what happened to millions of Americans during the 2008 financial crisis. Right now, there's less risk of your home's value decreasing below your home equity loan amount, though. Home prices have appreciated as much as 20% in some metro areas across the US over the last two years, and it seems unlikely that they will go down in a significant way anytime soon.

Pros of a home equity loan 

  • Fixed-rate payments: Your monthly payment will never change even if interest rates rise.
  • One lump sum of cash: You receive the entire loan upfront in one disbursement.
  • Low interest rates: It has a lower interest rate than other types of personal loans or credit cards. 
  • Tax deductible interest: If you use it for home renovations, you can deduct the interest from your taxes. 

 Cons of a home equity loan 

  • Using your home as collateral: If you fail to make your payments or default on your loan, your lender can foreclose and take ownership of your house.
  • Can take longer to receive the funds: It can take more time to receive a home equity loan than a personal loan, for example. 
  • Closing costs are expensive: Closing costs can range anywhere from 2% to 5% of the loan. 
  • Your home's value could decrease after receiving your loan: Although home values are not expected to decrease significantly any time soon, if your home's value were to drop below your home equity loan amount, you would have what is known as negative equity. Negative equity means you owe more than your home is worth. So, if you were to sell your home, you likely would not receive enough money from a seller to pay off your loan balance.

Home equity loans vs. HELOC

Home equity loans and home equity lines of credit, or HELOCs, are similar, but have a few key distinctions. Both let you draw on your home's equity and require you to use your home as collateral to secure your loan. The two major differences between a home equity loan and a HELOC are the way you receive the money and how you pay it back. 

A home equity loan gives you the money all at once as a lump sum, whereas a HELOC lets you take money out in installments over a long period of time, typically ten years. Home equity loans have fixed-rate payments that will never go up, but most HELOCs have variable interest rates that rise and fall with the economy and overall interest-rate trends. 

A home equity loan is better if:

  • You want a fixed-rate payment: Your monthly payment will never change even if interest rates rise.
  • You want one lump sum of money: You receive the entire loan upfront with a home equity loan.
  • You know the exact amount of money you need: If you know the amount you need and don't expect it to change, a home equity loan likely makes more sense than a HELOC.

A HELOC is better if:

  • You need money over a long period of time: You can take the money as you need it and only pay interest on the amounts you withdraw, not the full loan amount, as is the case with a home equity loan.
  • You want a low introductory interest rate: Although HELOC rates may increase over time, they also typically offer lower introductory interest rates than home equity loans. So, you could save money on interest charges.

Home equity loans vs. cash-out refinances

A cash-out refinance is when you replace your existing mortgage with a new mortgage, typically to secure a lower interest rate and more favorable terms. Unlike a traditional refinance, though, you take out a new mortgage for the home's entire value -- not just the amount you owe on your mortgage. You then receive the equity you've already paid off in your home as a cash payout. 

For example, if your home is worth $450,000 and you owe $250,000 on your loan, you would refinance for the entire $450,000, rather than the amount you owe on your mortgage. Your new cash-out refinance home loan would replace your existing mortgage, and then offer you a portion of the equity you built (in this case $200,000) as a cash payout. 

Both a cash-out refi and a home equity loan will provide you with a lump sum of cash that you'll repay in fixed amounts over a specific time period, but they have some important differences. A cash-out refinance replaces your current mortgage payment. When you receive a lump sum of cash from a cash-out refi, it is added back onto the balance of your new mortgage, usually causing your monthly payment to increase. A home equity loan is different -- it does not replace your existing mortgage and instead adds an additional monthly payment to your expenses. 

A home equity loan is better if:

  • You do not want to pay private mortgage insurance: Some cash-out refinances require PMI, which can add hundreds of dollars to your payments, but home equity loans do not.
  • You can't complete a refinance: With rates rising, it's possible that your mortgage rate is lower than current refinance rates. If that's the case, it likely won't make financial sense for you to refinance. Instead, you can use a home equity loan to only take out the money you need, rather than replacing your entire mortgage with a higher interest rate loan.  

A cash-out refinance is better if:

  • Refinance rates are lower than your current mortgage rate: If you can secure a lower interest rate by refinancing, this could save you money in interest, while providing access to a lump sum of cash. 
  • You only want one monthly payment: The amount you borrow gets added back to the balance of your mortgage so you only make one payment to your lender every month.
  • Less stringent eligibility requirements: If you don't have great credit or you have a high debt-to-income ratio, you may have an easier time qualifying for a cash-out refi compared to a home equity loan. 
  • Lower interest rates: Cash-out refinances sometimes offer more favorable interest rates than home equity loans.

FAQs

What is a good home equity loan rate?

Right now, lenders are offering rates that start as low as around 3% for borrowers with good credit, but rates vary depending on your personal financial situation. A lender will base your interest rate on how much equity you have in your home, your credit score, income level and other aspects of your financial life such as your debt-to-income ratio, which is calculated by dividing your monthly debts by your gross monthly income. 

How do I qualify for a home equity loan?

You are typically required to have at least 15% to 20% equity built up in your home to qualify for a home equity loan. You must also have enough income and a low-enough debt-to-income ratio to qualify -- lenders usually want to see a DTI of 43% or below. Lenders also like to see a minimum credit score of at least 620. Generally speaking, if your credit score is below 700 there is a possibility that a lender will deny you for a home equity loan. The better your credit, the better your chances of being approved for a loan with a low interest rate. 

What can I use a home equity loan for?

Home equity loans can be used for anything you choose to spend the money on. Typical life expenses that people usually take out home equity loans to cover are expenditures like home renovations, higher education costs like tuition or to pay off high-interest debt like credit card debt. There's a bonus for home improvements: If you use a home equity loan for renovations, the interest is tax deductible.

You can also use a home equity loan in an emergency situation or for life events like weddings. But keep in mind that whatever you chose to use a loan for, taking out a large sum of money that accrues interest is an expensive choice you should always carefully consider – especially since you're using your home as collateral to secure the loan. If you can't pay it back, the lender could seize your home to repay your debt.

How do I apply for a home equity loan?

Applying for a home equity loan is similar to applying for a mortgage. You need to qualify with a lender or bank who is willing to lend you the money. First, the lender will first want to make sure you have at least 15% to 20% equity in your home. If you do, the lender will take into account your credit score (lenders usually like to see a minimum score of 620), your income and your current debt-to-income ratio to determine whether you qualify and what your interest rate will be. You should be prepared to have financial documents like pay stubs and W2s in order, as well as proof of ownership and proof of the appraised value of your home. It's important to interview multiple lenders to determine which lender can offer you the lowest rates and fees.

More mortgage tools and resources

You can use CNET's mortgage calculator to help you determine how much house you can afford. The CNET mortgage calculator factors in variables such as the size of your down payment, home price and interest rate to help you understand how much of a difference even a slight increase in rates can make in the amount of interest you'll pay over the lifetime of your loan.

More mortgage rates:


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Labor Day Sales 2022: The Best Early Deals You Can Shop Right Now


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Labor Day Sales 2022: The Best Early Deals You Can Shop Right Now


Labor Day Sales 2022: The Best Early Deals You Can Shop Right Now

We're just a week away from Labor Day and plenty of the best Labor Day sales are already underway. Arriving ahead of Black Friday, Labor Day sales give you an early opportunity to save on a range of products across major retailers like Best Buy, Walmart, Home Depot and more. 

Home appliances and furniture are some of the big-ticket items that are already seeing steep price drops and some stellar tech deals on laptops, headphones and TVs are also cropping up right now.

Below, we'll go through everything you need to know ahead of Labor Day, including this year's Labor Day date, the best early Labor Day sales to shop now and what else to expect from Labor Day 2022. 

When is Labor Day 2022?

Labor Day always falls on the first Monday of September. That means that Labor Day 2022 will be celebrated on Monday, Sept. 5. We expect most Labor Day sales will be up and running for at least the weekend preceding Labor Day and we're already seeing some go live a couple of weeks in advance. 

Early Labor Day sales live now

  • Amazon: Up to 40% off Echo and Fire TV devices
  • Best Buy: Save on laptops, TVs, smart home devices and appliances
  • Walmart: Tech and home deals
  • Target: Back to school savings on clothing, tech and school supplies
  • Staples: Save on back-to-school essentials
  • Home Depot: Save on power tools, furniture and home decor
  • Lowe's: Summer savings on grills, appliances, tools and more
  • Bed Bath & Beyond: Warehouse clearance event
  • Wayfair: Up to 60% off furniture, decor and appliances
  • Casper: Up to $600 off mattresses and 50% off select accessories
  • Purple: Up to $300 off mattresses
  • Overstock: End of summer sale with up to 70% off
  • Dell: Six months of the Disney Bundle with select purchases
  • Samsung: Discounts, boosted trade-ins, instant credit and more

Best Labor Day deals to shop now

Early Labor Day tech deals

Samsung

Right now, you can get as much as $900 off a Galaxy Z Fold 4 when you trade in your existing device directly at Samsung, plus you'll receive $150 in Samsung store credit to spend on accessories. Additional Samsung credit and bundle savings of up to 30% are also available when you buy your Galaxy Z Fold 4 alongside other Samsung products, like the Galaxy Watch 5, Galaxy Buds 2 Pro and Galaxy Tab S8.

CNET

A huge variety of Amazon devices are on sale right now with as much as half off regular prices. The early Labor Day sale includes popular Fire TV Sticks, Fire tablets, Kindle e-readers, Eero mesh Wi-Fi systems and more.

Early Labor Day TV deals

Amazon

For a limited time, Amazon and Best buy are throwing a free Echo Dot (third-gen) in with select smart Fire TV purchases. Several different models are eligible for the freebie, from 24-inch HD models up to 75-inch 4K-compatible TV sets, with prices starting at just $90.

Hisense

Hisense's R6 Series TVs offer a bunch of advanced features at a low price, including a 4K resolution, HDR support, a 120Hz refresh rate and Google Assistant or Alexa controls via your existing smart speakers. Using the excellent Roku OS, you'll be able to easily access all of the streaming services you know and love, too. 

Vizio

Vizio's V-Series made its way onto our best TVs list as a runner-up budget option because it comes with Chromecast and Apple AirPlay 2 built in, which plenty of other smart TVs do not. These allow you to stream, or even mirror, content from your phone or computer. It also boasts 4K UHD picture, and an IQ active processor that enhances the quality of any non-4K content. 

Toshiba

At just $430, the Toshiba M550 is packed full of features, including AirPlay support, built-in microphones for truly hands-free control and a low latency gaming mode. It's equipped with a Regza Engine 4K for stunning UHD picture, as well as support for Dolby Vision HDR and HDR10 Plus. And with DTS Virtual: X technology, it also features powerful, immersive audio.

Early Labor Day home and garden deals

Ashley Furniture

Ashley is offering a huge array of Labor Day deals with as much as 50% off regular prices. Discounted items include furniture, mattresses, home decor and more and you can take an extra 5% off select purchases with code LDSAVINGS

Early Labor Day mattress deals

My Slumber Yard

Get up to $350 off Helix products during its early Labor Day mattress sale.

Use the following codes to get the discount:

  • $100 off orders of $600 or more with code: LDSALE100
  • $150 off orders of $1,250 or more with code: LDSALE150
  • $200 off orders of $1,700 or more with code: LDSALE200
  • $250 off orders of $2,550 or more with code: LDSALE250
  • $300 off orders of $2,700 or more with code: LDSALE300
  • $350 off orders of $2,950 or more with code: LDSALE350

Every order includes two free Dream pillows.

Read more about its beds in our Helix mattress review. 

Early Labor Day appliance deals

Instant Pot/CNET

If you want to simplify cooking, consider investing in an Instant Pot. These versatile multicookers can prepare a plethora of plates in one device, helping save you space in your kitchen. Right now Amazon has the Instant Pot Duo Plus marked down by 38%, bringing the price to just $80. This 6-quart cooker has nine different functions including pressure cook, slow cook, rice cooker, steamer, sauté pan, yogurt maker and sterilizer. It even has 15 customizable smart programs to cook ribs, soups, beans, rice, poultry, desserts and other tasty treats at the push of a button.

Molekule

If you're looking to improve the quality of air in your home, having an air purifier can help, and with Molekule's Air Mini Plus or Air Pro, you can purify the air in personal or professional spaces to keep viruses and other allergens at bay while saving as much as $200.

Labor Day health and fitness deals

Labor Day beauty and fashion deals

Which Labor Day sales are the best?

There are going to be plenty of competing sales when Labor Day 2022 rolls around (with many having launched already). Deciding which is best for you to shop will depend on what you're hoping to buy. 

Amazon, Best Buy and Walmart are generally good starting points if tech and smart home purchases are on your mind with stores like Lowes, Home Depot and Overstock being the places to begin your hunt for home and garden products. 

Don't rule out more niche retailers like B&H Photo, Dell, HP and GameStop, though, as each will likely run some form of Labor Day sale as will most of your favorite brands. We'll be sure to keep you posted on the best Labor Day sales as they crop up. 

When do Labor Day sales begin?

Though Labor Day falls on Monday, Sept. 5 this year, there's no official date that sales will kick off and many early Labor Day sales are already live. Expect others to launch in the coming days. 

Should I wait for Black Friday sales?

Labor Day sales offer some of the best savings at this time of year, sitting nicely between Memorial Day sales and Black Friday. If you need something now, particularly furniture or yard equipment, Labor Day is a great time to buy, with end-of-summer pricing applying to a lot of those types of products. 

Black Friday is the biggest sale of the year, though, and if you can afford to wait the extra couple of months you could potentially get more for your money. That being said, rumors abound of a second Prime Day sale, or "Prime Early Access Sale," slated for October, which could kick off the holiday shopping season much earlier and may mean even less time between Labor Day sales and fall sales. 

How do I prepare for Labor Day sales? 

The best thing to do between now and Labor Day 2022 is narrow down exactly what is on your shopping list this year. That way, you can identify the best retailers to start your search and avoid being distracted by the thousands of deals that will bombard you as more Labor Day sales officially kick off. 

The CNET Deals team will keep you up to date on all of the best deals between now and Labor Day, so be sure to follow the team on Twitter and sign up for the CNET Deals newsletter.


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Back To Cell Phone Basics: Buying A Non-smartphone


Back to cell phone basics: Buying a non-smartphone


Back to cell phone basics: Buying a non-smartphone

For some people, smartphones and their always-on Internet connections and apps is a waste of money.

If you don't need apps or games and you can live without fast, robust access to the Net from your cell phone, then a smartphone might be expensive overkill. All four of the major U.S. wireless carriers still offer basic feature phones, which don't require expensive data plans. In this Ask Maggie, I offer some advice to a reader who is looking for one of these phones.

I also offer some advice regarding the new all-in-one desktop computers.

Going retro with a basic feature phone

Dear Maggie,

I have an AT&T iPhone 3GS. It's the worst telephone I've ever owned. And I'd say it wasn't even worth the $0 I paid AT&T for it at the time (a year ago). I have no intention of going to the iPhone 5 regardless of what's written about it. Although I get ok service here in the house I don't need a "smartphone" (I have 2 computers - one PC and one Mac laptop) and I have WiFi, so I don't need a handheld device to find places or play games or watch anything on the Internet or Google while I'm in restaurants or in the car. And I'm tired of paying AT&T for data I don't use each month just because I have an iPhone or a "smartphone" and "must" have data.

I might add that I was in the telecom industry for nearly 25 years (I worked for Sprint and MCI when there was an MCI) and the carriers are among the most rapacious greedy corporate enterprises I've ever gotten close to!

Stepping off my soapbox now. In your opinion, what's the best phone that's just a phone? I don't need to do anything but make and receive calls and do texting. I don't care about browsing or email or anything else. I just need a telephone that's simply a phone thank you very much!

Regards and thanks for your response,
Mark

Dear Mark,

While there are definitely more people switching from basic cell phones to smartphones these days, I know there are lots of people out there in your same shoes. Smartphones offer tons of functionality that many people now feel like they can't live without, but the reality is that all that functionality and that ubiquitous access to the Internet is pricey. In some ways, I think it's kind of surprising that there aren't more people asking me for this same advice.

The good news is that all the major carriers, AT&T, Verizon Wireless, Sprint Nextel and T-Mobile USA, each continue to offer basic cell phones and what they call quick messaging devices that do not require data plans. The carriers recognize that there is a subset of customers who have no interest in a smartphone because it's either too complicated or too expensive. But the reality is that each of these carriers see their future in data. And they will do everything in their power to encourage as many customers as possible to sign up for smartphones that require data plans.

Overtime, I expect to see fewer of the more basic devices. But for now, carriers still offer a handful of basic phones that are either free or cost very little when you sign up for a two-year contract.

The great thing about these basic phones is that they are inexpensive. The carriers either give them away for free with a two-year contract, or you pay a minimal amount for the devices. But it's not just the upfront cost that's appealing, as you mentioned in your question, but it costs much less to own a basic phone than it does a smartphone, if you keep your services to a minimum.

For example, on AT&T, you could pay as little as $40 a month for your phone service. Compare this to the $80 a month you'd pay for the lowest amount of data you could get on AT&T's new Share Everything plan. Under that plan, the data service costs $40 a month for 1GB of data and it comes with unlimited text messaging and voice service.

Using a basic phone with no data or text messaging, could save you half. But as you start to add additional services, like text messaging and data, the cost difference is not as big. Adding unlimited texting to AT&T's basic feature phone plan is an additional $20 a month. And if you also wanted to add data, it would cost an additional $10 a month. (Data for feature phones is $15 a month if you subscribe to that without unlimited text messaging.) In total, if you wanted 450 minutes of voice service, unlimited text messaging and unlimited data for a feature phone, you'd pay $70 a month. That's only $10 less a month than you'd pay for smartphone, and you'd be getting much less in terms of the service and functionality of the device.

That said, it can offer some savings. And if you don't plan to subscribe to the data or you are not a heavy text messaging user, a basic phone that doesn't require a data contract is a good option.

My colleague Jessica Dolcourt recently updated her "best of" list in this category.

Here are her top choices:

  • Kyocera DurXT (Sprint)
  • Samsung Gusto 2 (Verizon Wireless)
  • Samsung +159 (T-Mobile)
  • LG Rumor Reflex (Sprint)
  • Samsung Entro (Virgin Mobile)

If you want more information on each of these phones, check out her story and the reviews of these devices.

As you can see from her list, none of these devices are available for AT&T. Since you are an AT&T customer, I have listed a few devices here that I think offer pretty good value and functionality.

Pantech Swift
Josh Miller/CNET

Pantech Swift

The Pantech Swift has a QWERTY keyboard that slides out and has an angled screen. It also has a touch screen that offers some icons for accessing some of the basic features and functionality. But CNET's reviewers Jessica Dolcourt and Lynn La were not impressed with the processor speed. And they said the touchscreen is unresponsive. Even though they don't recommend this device highly, they seem to think the Pantech Swift is the most appealing Pantech handset on AT&T with a keyboard. AT&T is currently selling it for $0.99 with a two year contract.

Pantech Renue
Pantech Renue Josh Miller/CNET

Pantech Renue

The Pantech Renue is another touch screen device with a slide out QWERTY keyboard. But CNET reviewer Jessica Dolcourt said she isn't a fan of the speakerphone or the mediocre camera. What's more, the Renue has a short battery life that many consumers have complained about in their own comments and reviews of the device. While the keyboard is nice for heavy texters, she said that the short battery life and underdeveloped camera are setbacks. AT&T sells this device for $49.99 with a two-year contract.

LG A340 LG

LG A340

The LG A340 is a standard flip-phone from AT&T. This is one of the most basic, barebones devices on AT&T's network. It's equipped with enhanced audio technology for users who are hard of hearing and it has Bluetooth so it can be used with a wireless headset and a 1.3-megapixel camera. Other features include "Text to Speech" functionality that lets you listen to your text messages as they're read aloud to you. It also comes with AT&T radio. With a two-year contract, this phone is only $19.99.

LG Xpression
LG Xpression AT&T

LG Xpression

The LG Xpression is another touch screen phone with a slide-out QWERTY keyboard. It has a 2-megapixel camera with video, a personal organizer, Bluetooth 2.1, messaging and e-mail, 3G support, microSD card support (up to 32GB), voice dialing, a Web browser, and a basic music player. The device runs LG's standard operating system, but it also includes some social networking apps, as well as AT&T Navigator and LG Instant Note, which allows easy one touch updates to Facebook, Twitter or for sending a text messages. The Xpression is now $29.99 with a two year contract.

I hope this advice and the device suggestions were helpful. Good luck!

New computer advice

Dear Maggie,

I want to buy a 27" Windows 8 All-In-One for my parents, but don't really know which one is best for them. They're not tech whizzes (though they do like to experiment and learn new things), but they need it to work well and perform smoothly for the next five or more years. Which one(s) would you recommend on a $1500-$2000 budget?

Thanks a bunch,
Josh

Dear Josh,
The CNET Reviews team likes the Dell XPS One 27 the best. You may also want to consider Apple's 27 inch iMac. It's a bit more expensive, but with a budget of $2,000, it's doable.

CNET Reviews editor Rich Brown also has written about finding the best 27-inch all-in-one desktop, where he compares the Dell to the models that Apple offers. So you should check out his story, as well.

You might also want to consider the Lenovo IdeaCenter all-in-ones. Right now they only support Windows 7. But if you wait a few more weeks, you'll likely find more all-in-one computers available running Windows 8.

I hope this was helpful. And good luck!

Ask Maggie is an advice column that answers readers' wireless and broadband questions. The column now appears twice a week on CNET offering readers a double dosage of Ask Maggie's advice. If you have a question, I'd love to hear from you. Please send me an e-mail at maggie dot reardon at cbs dot com. And please put "Ask Maggie" in the subject header. You can also follow me on Facebook on my Ask Maggie page.


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