Exploring 401(k) Loan and Utilizing It for Debt Consolidation

When you are desperate to get rid of your debt, you can borrow from your retirement money to consolidate your debt. This retirement amount is known as 401(k) plan. It is also called a pension plan. The best thing about borrowing from this plan is that you can get the money at a low interest rate.

 Understanding the Concept of a 401(k) Loan

Employers follow one simple rule, and that is they permit employees to loan up to half of their superannuation account for about five years. The limit is usually about $50,000. If you are thinking along the lines of making use of your 401(k), then first it is important that you decipher the concept and know the rules. For example, if you decide to leave your employment, then you will need to pay back the balance of your 401(k) loan in about 60 days. If by chance you are unable to pay back this loan,  then the IRS will view this loan as a dissemination, and you will get taxed in that particular tax year.

Perks of 401(k) Loan for Debt Consolidation

When you opt for a 401(k) loan for debt consolidation, then it has loads of perks. These loans cost less than the credit cards. What most people worry the most about is their credit score when they opt for a loan. However, you will not have to face this issue when you opt for a 401(k) loan because it does not affect your credit score in any way. The best part is that you pay the interest on your account only. 

When you want to take the best advantage of the 401(k) loan, then the smart approach is that you should pair up this loan with a good financial plan. Ideally, you should utilize your 401(k) for debt consolidation if you feel that you will not end up in the debt pile again soon. You should not borrow freely. You should only borrow an amount that you can confidently pay back to the company. For example, you should get hold of a loan that you can easily pay back in 12 months. 

Do not get tempted to use your credit cards when you use your 401(k) loan for debt consolidation. The most important thing is that when you have decided to get the 401(k) loan, then you need to have a clear strategy in mind. Some people borrow this money without a strategy in mind, and this is why they get into deeper trouble. Discuss the feasibility of a good debt consolidation company. Most companies do offer a free consultation.

This way you will be sure if you are getting the right help or not. You can also raise your questions and concerns to the company to overcome this trouble. Once you find a good debt consolidation firm, they will guide you on how you should avoid financial trouble coming your way in the future also. 

4 Tips on Transitioning to a Vegan Lifestyle #Veganuary

Whether going vegan has been a resolution idea for you for some time or you’ve recently decided to sign up to the Veganuary challenge, this is a lifestyle and diet change that many individuals benefit from. Not only does veganism inspire many people to eat healthier and get more nutrients in their diet, it is also kinder for the environment and the only way of ensuring that your diet is completely cruelty-free. Transitioning to a vegan lifestyle can seem really daunting at first, but the good news is that today it’s easier than ever to become vegan with more and more people making the switch. Here are some top tips and ideas to help you kick-start your new vegan way of living.

Tip #1. Add to Your Diet First:

One of the main things that put some people off from going vegan is the amount of food that they won’t be able to eat as a vegan. However, don’t think about this too much, as it’s not all that bad. In fact, one of the best things about going vegan is the number of new foods and meal ideas that you will discover. With veganism booming in popularity, there are so many different recipes to try, whether you’re looking for food that’s healthy and nutritious or you want an indulgent treat. For example, this kale kimchi is a vegan take on the traditional Korean dish that’s full of healthy nutrients.

Tip #2. Get Social:

Transitioning to a vegan lifestyle on your own can be even more daunting, so it’s a good idea to find other people who are willing to do it with you, or team up with people who have been vegan for a while and will be able to provide you with advice on where to find the best vegan foods or their favorite vegan restaurants, for example. Social media is a great place to look if you’re hoping to find supportive vegans, with pages, events, and social media groups dedicated to this lifestyle. Don’t forget that there are also many avid vegan bloggers who can’t wait to share their latest news and tips with their followers.

Tip #3. Start Small:

If you’re used to cooking with meat and animal products, then going vegan can be an intimidating prospect. Thankfully, there are several ideas for quick, simple, and easy vegan recipes that anybody can make in no time at all. When you first start on your new vegan lifestyle, it’s a good idea to have a handful of quick and easy recipes that you can turn to when you’re stuck for ideas. Don’t forget that staples such as bread, dried pasta or noodles, rice, and vegetables are all vegan-friendly!

Tip #4. Don’t Stop Learning:

The more you know about veganism, the easier it will be for you to stick to your new lifestyle choice. Spend some time seeking out websites, blogs, documentaries, books, magazines and more that you can use to learn as much as you can about going vegan!

If you enjoyed these tips, we’d love to hear from you in the comments. 

12 Ways Adults Can Have More Fun

The fun doesn’t have to stop now you’re an adult. There are plenty of ways you can add a little laughter, creativity, and spontaneity into your life. Simply read the following twelve ways adults can add a little more fun to their lives.

Break Free from an Escape Room

An escape room isn’t your average game. It will put your intelligence and instinct to the test, as you will solve puzzles and crack codes to escape the room within 60 minutes. You will feel a buzz of adrenaline in your body each time you crack a code – and a great sense of achievement if you break free from a Pittsburgh Escape Room.

Host a Games Night

Board games are for kids, right? Wrong. There is nothing better than gathering your friends together to host a games night. Stock up on plenty of food and drinks, as well as a variety of games to test their knowledge and ingenuity, such as Monopoly or charades. There will be much laughter throughout the night, as you each enjoy a little healthy competition to become the winner.

Join a Sports Team

If you have a passion for a sport, consider joining a sports team to embrace your love for a game and have a little fun. Find an adult sports team that will help you to connect with others, and it will even provide you with an opportunity to enjoy more exercise. It’s a win-win.

Buy Adult Coloring Books

Most kids experienced hours of fun with coloring books. You might be happy to learn this is one activity that doesn’t have to stop once you reach adulthood. There are now a variety of adult coloring books on the market, which can be a relaxing activity following a busy personal or professional life. So, whenever you feel a little stressed, pull out your pencils and coloring book to create a work of art.

Enjoy a Movie Night with Friends

Many adults have busy lives, as they are juggling cooking, cleaning, and decorating with a hectic career. It’s therefore easy to feel a little stressed once the working week is over. For this reason, you should try to enjoy a little downtime – and there’s no better way to do so than with a movie night with friends. Chill with those closest to you to simply unwind as you watch a gripping drama or hilarious comedy, which will make all the tension melt away from your body.

Invite Family to a Summer BBQ

Food and drink is the ultimate way to bring people together to talk, laugh and make memories. For this reason, you should consider hosting a BBQ on a sunny day in your yard. You will love the smell of a delicious burger sizzling on the grill, while your parents, siblings and cousins laugh while enjoying a variety of good food, drinks, and music. You know that sounds good.

Visit a Museum

Adults love to learn as they get older. That’s why you should boost your knowledge by visiting a local museum. Go along to a museum alone or with your partner, friends, or children to explore different artifacts and learn more about a topic. You never know, it could help you to develop a passion that turns into a fun career or full-time hobby.

Plan a Karaoke Night

Whether you rank yourself with Beyoncé or you can’t hold a note to save your life, you should plan a karaoke night so you can sing until your heart is content. Show off your vocals by belting out your best songs, or have fun as you prove you’re more than a little tone deaf. You don’t need to be talented to enjoy karaoke, and it’s a great way to come together with friends. Just make sure there’s plenty of food and drink flowing to make those off-key romantic ballads bearable.

Hold a Dinner Party

Make time for your loved ones by holding a dinner party, which will fill your home with both love and laughter. It’s an ideal way to talk about anything and everything with your nearest and dearest, as you will laugh until you cry. You can even provide your guests with sharing dishes, which will bring you all closer together over the dinner table. It’s one of the best ways to make fun memories with those you love the most.

Try Something New

Staying within your comfort zone can be more than a little bit boring. Add variety to your life by trying something new. Even if you don’t particularly enjoy the experience, you will have fun trying new things and performing different activities. It can help to keep boredom at bay and could open your world to a whole new experience, activity, or flavor. So, jump out a plane, experience a new cuisine or do something you wouldn’t ordinarily do. You’ll be glad you did.

Do Something Spontaneous

Adults can often become restricted to the same routine each day, so are less willing to be a little spontaneous. As a result, they can easily feel stuck in a rut and bored with the same schedule. Shake things up a little by doing something a little spontaneous, which will add a touch of excitement to your lifestyle. For example, you could say yes to going for a drink with a colleague after work, or you could pack a suitcase and buy flight tickets at an airport.

Find a New Hobby

Hobbies can help prevent daily boredom. If life is becoming a little dull, you should consider finding a new pastime. For instance, you could develop a passion for exercise, can start drawing or painting, or you can write short stories or plays. You can even attend a local cooking class to develop a new skill or passion for a cuisine or could embark on a college course to broaden your knowledge and skillset.

Have you got any top tips for having a little more fun inside or outside the home? Simply share your advice by posting a comment below.

5 Power Tools Every Beginner Woodworker Should Have

As a beginner woodworker, you should buy the most important tools first. With the right tools, you will be able to complete your projects and, more importantly, gain valuable experience. With that in mind, here are five woodworking tools to get you started.

Circular saw
Used primarily to make straight cuts, a circular saw is a must-have tool even for a beginner working on a budget. With a circular saw, you would not necessarily need to buy a table saw because a circular saw can perform most of the work performed by a table saw. For instance, you can use a circular saw to make bevel/miter cuts, as well as make straight accurate rip cuts, including long rips. Moreover, with the right blades, you can use a circular saw in fine woodworking projects.

Miter saw
With a bevel angle ranging from 0 degrees to +45 or -- 45 degrees, a sliding compound miter saw is specifically designed for cutting wood and other materials at different angles accurately. For this reason, a miter saw is an essential tool for woodworking projects that require angled pieces. Examples of such projects include making picture frames, ceiling trim, decorative wall panels, cabinet molding, crown molding, wall panels and baseboards. Miter saws are generally classified into two main categories: compound and non-compound miter saws. Compound miter saws have a blade tilting (bevel) system in addition to the mitering system, meaning they can make compound cuts. A compound cut is basically a combination of both a bevel and a miter cut. The cost of a miter saw depends on its size and features. Hop on over and read Protoolzone's top miter saw buyer's guide for your woodworking projects.

Jigsaw
Similar to a band saw, a jigsaw is used primarily to cut curved and circular patterns in stock. Moreover, when fitted with the right blade, a jigsaw can cut other materials including drywall, fiberglass and steel. Beyond cutting patterns, you can also use a jigsaw to make bevel and compound cuts in materials. Jigsaws are available in both corded and cordless models. While both models are portable, the latter model can be used virtually anywhere on a job site, making it popular with contractors. If you are looking for versatility, you should go for an orbital-action, corded jigsaw with a quick blade change system.

Table saw
This is arguably the most important and versatile tool in a typical woodworking shop. You can make a table saw to make a variety of cuts including rip cuts, cross-cuts, dados, tenons, as well as miter/bevel cuts.  This means that a table saw will likely be the centerpiece around which you use or organize all your other tools, so you should not skimp on this important woodworking tool. Table saws generally fall into one of three categories: hybrid saws, contractor's saws and cabinet saws. Some of the most important considerations when buying a table saw include the size, voltage requirements, fence system, safety features and dust collection system.

Cordless drill
A cordless drill is a versatile and useful woodworking tool that you can rely on for both big and small woodworking projects, from remodeling projects to installing fixtures. Some of the important considerations when choosing a cordless drill include the type of batteries and motor. Drills with lithium-ion (Li-ion) batteries are generally more powerful and run longer between charges compared to drills with nickel-cadmium batteries. Similarly, drills with a brushless motor generally last longer and generate more power compared to drills with other types of motors.

Conclusion 
Some of the most important tools for a beginner woodworker include a cordless drill, table saw, miter saw, jigsaw and circular saw.  Consider these items to be some of the best gift ideas for the husband, brother, father, son, friend on your shopping list for any occasion!

Uncovering the Essential Concept of Debt Consolidation to be Debt Free

Are you under tremendous pressure because of the piling up debt? Well, debt consolidation may be the best refuge for you in this situation. However, it is important that you should have a clear idea about the concept of debt consolidation.

Debt consolidation means that you should combine all of your unsecured debt into one monthly payment. You can easily manage debt consolidation with the help of a debt consolidation loan.

Different Methods For Debt Consolidation

Managing Consolidation with a Home Equity Loan

If you decide to consolidate with a home equity loan, then this can turn out to be a risky option. The reason is that the unsecured debt becomes secure by your house. Let us assume that you are unable to make the payments; then in this situation, your house can be foreclosed. This is something which you would not want to happen at the end of the day.

Using a Line of Credit to Consolidate Your Debt

You can also use a line of credit to consolidate your debt if your bank gives the approval. The line of credit is usually secured by your house. If you have a good income, then, in this case, the bank may offer an unsecured line of credit also.

Hiring Professional Assistance

You can also think along the lines of hiring a professional debt consolidation company. When you hire a professional company, then, in this case, your payment is consolidated, but the debts are kept separate. What you have to do is send one single payment to the debt consolidation company. The company will manage the division of the payments and send it to the respective creditors. Now, the important thing you need to know is that the debt consolidation world is full of scams and you need to be on your guard. There are debt consolidation companies out there that push you into paying high-interest rates. The result is that you end up paying more in the long-run. There are also companies out there that fail to send your payments to the creditors. This is why it essential that you should evaluate a debt consolidation firm and choose a reliable company to consolidate debt.

It is also vital that you do not misuse the concept of debt consolidation. What generally happens is that when you consolidate your debt, then it helps to acquire free credit. Many people have lured to avail this free credit. As a result, they end up piling new credit on top of the existing one. If you have decided to seek professional help to consolidate your debt, then make sure that you have a good credit score. The reason is that the credit score is the deciding factor in the rates that you will have to pay for consolidating the debt. Another factor that decides your rate for debt consolidation is the collateral that you are willing to offer. Ideally, you should have a clear strategy in mind if you have decided to consolidate your debt. This can help to avoid the problems in the future.