{"data":{"allPrismicArticle":{"edges":[{"node":{"last_publication_date":"2018-11-29T17:43:16+0000","tags":["Chart","City","Home","Affordability"],"uid":"global-cities-housing-ratio","data":{"title":{"text":"Global Basic Needs Comparison: Housing Costs"},"body":{"text":"Access a hi-res version of this chart here. The preliminary results of this study were published September 25, 2018. It has since been updated for clarity and better visual context.  Absent context, the cost of housing doesn't tell you very much about affordability.  Half-a-mil for a 3-bedroom condo in Manhattan is unheard of, whereas half that for a home in Karachi is five times the going rate. For our second 2018 Global Basic Needs Comparison series, we evaluate global housing costs by providing context that matters. For each city evaluated, we include median cost of housing for a typical family (bar), as well as the ratio of median house price to median after-tax income (line). Here are a few insight we wanted to call out: The typical $850k house in San Jose might be beyond reach in most U.S. cities, but in Silicon Valley it's only 5-6 times the median household income for that locality. Many cities in Eastern Europe hold the distinction of expensive in both concrete and relative terms.  For example, a typical home in Moscow runs $350k (more than most U.S. cities), and it would take almost 20 years for a typical household to purchase if all household income went toward the home. Outside of the coast, most U.S. metros are relatively affordable, compared to the rest of the world. The typical ratio of home price to after-tax salary is less than 4. Detroit has the distinction of being both one of the cheapest cities to buy a home in real dollar terms, as well as the very cheapest city in relative terms. The median motor-city household makes enough to purchase the median home outright with two-years' worth of income. While you're here, take a look at our three-stage mortgage calculator! "},"image":{"url":"https://walletwyse.cdn.prismic.io/walletwyse/a6f5078528c5c4accc2a3fbfc0d096b4087d76e5_global-housing-market.jpg","dimensions":{"width":864,"height":576},"localFile":{"childImageSharp":{"fluid":{"base64":"data:image/jpeg;base64,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","aspectRatio":3.32,"src":"/static/d3b23e2da96cd7d67bcd368abe595626-657cf84c48e765d37c3f07107f0e4a31-e6ae9.jpg","srcSet":"/static/d3b23e2da96cd7d67bcd368abe595626-657cf84c48e765d37c3f07107f0e4a31-80f39.jpg 166w,\n/static/d3b23e2da96cd7d67bcd368abe595626-657cf84c48e765d37c3f07107f0e4a31-02e61.jpg 332w,\n/static/d3b23e2da96cd7d67bcd368abe595626-657cf84c48e765d37c3f07107f0e4a31-e6ae9.jpg 663w,\n/static/d3b23e2da96cd7d67bcd368abe595626-657cf84c48e765d37c3f07107f0e4a31-1e300.jpg 864w","srcWebp":"/static/d3b23e2da96cd7d67bcd368abe595626-657cf84c48e765d37c3f07107f0e4a31-a1ce3.webp","srcSetWebp":"/static/d3b23e2da96cd7d67bcd368abe595626-657cf84c48e765d37c3f07107f0e4a31-92185.webp 166w,\n/static/d3b23e2da96cd7d67bcd368abe595626-657cf84c48e765d37c3f07107f0e4a31-a2201.webp 332w,\n/static/d3b23e2da96cd7d67bcd368abe595626-657cf84c48e765d37c3f07107f0e4a31-a1ce3.webp 663w,\n/static/d3b23e2da96cd7d67bcd368abe595626-657cf84c48e765d37c3f07107f0e4a31-5b198.webp 864w","sizes":"(max-width: 663px) 100vw, 663px"}}}},"author":"Aaron A"}}},{"node":{"last_publication_date":"2018-11-28T18:04:40+0000","tags":["Chart","Travel","Lifestyle","City","2018","Study"],"uid":"chart-holiday-costs-moderate-2018","data":{"title":{"text":"Seven Days of Holiday Spending"},"body":{"text":"Projecting travel costs is equal parts estimation, experience & indexing. The data for this visualation employs OECD & Worldbank indices as well as datasets produced by hotels.com, airbnb, various travel sites, as well as deliberative spot checking. The result is price estimates for accommodations, food, nightlife and activities in various global cities.  Spending patterns on holiday is as varied as each individual's spending habits in day-to-day life, so for this example we evaluated pricing based on the following assumptions: Time: 1 Week Travelers: 2 Adults Accommodation: Airbnb Dining: Casual sit-down (No drinks with dinner) Nightlife: Mid-range bar (2 drinks per adult) Transportation: Mass transit  Daytime activities: Museums, Shows, Daytrips, Tours Stay tuned for our upcoming travel calculator, which will allow you to estimate travel costs in hundreds of cities, using personalized travel-style preferences. Until then, check out or recently re-designed mortgage calculator."},"image":{"url":"https://walletwyse.cdn.prismic.io/walletwyse/f6f7301fe07b852ea5040b8596cc16547629c47e_28261014947_8078eed0f0_b.jpg","dimensions":{"width":1024,"height":683},"localFile":{"childImageSharp":{"fluid":{"base64":"data:image/jpeg;base64,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","aspectRatio":3.32,"src":"/static/8451db78792b5e042cb78065b20c18cd-44ae7d578a8bd9f0b0a6f3683999df53-e6ae9.jpg","srcSet":"/static/8451db78792b5e042cb78065b20c18cd-44ae7d578a8bd9f0b0a6f3683999df53-80f39.jpg 166w,\n/static/8451db78792b5e042cb78065b20c18cd-44ae7d578a8bd9f0b0a6f3683999df53-02e61.jpg 332w,\n/static/8451db78792b5e042cb78065b20c18cd-44ae7d578a8bd9f0b0a6f3683999df53-e6ae9.jpg 663w,\n/static/8451db78792b5e042cb78065b20c18cd-44ae7d578a8bd9f0b0a6f3683999df53-86154.jpg 995w,\n/static/8451db78792b5e042cb78065b20c18cd-44ae7d578a8bd9f0b0a6f3683999df53-01a57.jpg 1024w","srcWebp":"/static/8451db78792b5e042cb78065b20c18cd-44ae7d578a8bd9f0b0a6f3683999df53-a1ce3.webp","srcSetWebp":"/static/8451db78792b5e042cb78065b20c18cd-44ae7d578a8bd9f0b0a6f3683999df53-92185.webp 166w,\n/static/8451db78792b5e042cb78065b20c18cd-44ae7d578a8bd9f0b0a6f3683999df53-a2201.webp 332w,\n/static/8451db78792b5e042cb78065b20c18cd-44ae7d578a8bd9f0b0a6f3683999df53-a1ce3.webp 663w,\n/static/8451db78792b5e042cb78065b20c18cd-44ae7d578a8bd9f0b0a6f3683999df53-a0d7a.webp 995w,\n/static/8451db78792b5e042cb78065b20c18cd-44ae7d578a8bd9f0b0a6f3683999df53-c296e.webp 1024w","sizes":"(max-width: 663px) 100vw, 663px"}}}},"author":"Aaron A"}}},{"node":{"last_publication_date":"2018-09-26T00:22:13+0000","tags":["Chart","City","Home","Lifestyle","Food"],"uid":"global-cities-days-of-food","data":{"title":{"text":"Global Basic Needs Comparison: Food"},"body":{"text":"Click here for a zoomable, hi-res version of the chart.  When it comes to our basic needs - and the basic expenditures it takes to meet them - none is more important than food. We decided to kick off our 2018 Global Basic Needs Comparison series by showing how far $100 USD will go to provide for a single person's daily nourishment, measured in days. The beauty of a visualization is you don't need to read through a report to start picking out insights and seeing trends, but there are a few insight we wanted to call out: The three most expensive cities for groceries in the U.S. are San Francisco, New York City, and Anchorage, Alaska. After New York & San Francisco's Top Top Rankings in our global rent survey we weren't surprised to see SF & NYC at the top of the chart, but it was interesting that Anchorage, which is middle-of-the-road for rental prices, is on par with the two priciest cities for groceries. Otherwise, the North America transportation network apparently does an amazing job at food distribution. Excluding outliers, $100 USD purchased between 7-11 days of food in practically every U.S. and Canadian city. Contrast that to Europe, where 86 Euros purchased as little as 5-6 days in Switzerland to more than a month's worth of food in some Ukranian cities. Grocery prices in Australia and New Zealand behave much more like they do in North America than in Europe. 135 AUD consistently allows you to eat for 8 or 9 days. Excluding Hong Kong, Japan & South Korea, staple groceries in East & South East Asia are relatively inexpensive (13-18 days). Prices drop significantly going into Central Asia & India (23-31 days). While you're here, take a look at our recently upgraded calculators. Keep checking back, because in addition to more Global Basic Needs articles, we've got a travel cost calculator coming out soon, in the same thoughtful and intuitive format."},"image":{"url":"https://walletwyse.cdn.prismic.io/walletwyse/296b58b37e1f1fd05127cfebd9d3cb90aa5a20c4_eating.jpg","dimensions":{"width":960,"height":637},"localFile":{"childImageSharp":{"fluid":{"base64":"data:image/jpeg;base64,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","aspectRatio":3.32,"src":"/static/89f3081ed274e2fdc156b84971b239a2-052eb6469fb1cdf947c5e43b59305f81-e6ae9.jpg","srcSet":"/static/89f3081ed274e2fdc156b84971b239a2-052eb6469fb1cdf947c5e43b59305f81-80f39.jpg 166w,\n/static/89f3081ed274e2fdc156b84971b239a2-052eb6469fb1cdf947c5e43b59305f81-02e61.jpg 332w,\n/static/89f3081ed274e2fdc156b84971b239a2-052eb6469fb1cdf947c5e43b59305f81-e6ae9.jpg 663w,\n/static/89f3081ed274e2fdc156b84971b239a2-052eb6469fb1cdf947c5e43b59305f81-58f27.jpg 960w","srcWebp":"/static/89f3081ed274e2fdc156b84971b239a2-052eb6469fb1cdf947c5e43b59305f81-a1ce3.webp","srcSetWebp":"/static/89f3081ed274e2fdc156b84971b239a2-052eb6469fb1cdf947c5e43b59305f81-92185.webp 166w,\n/static/89f3081ed274e2fdc156b84971b239a2-052eb6469fb1cdf947c5e43b59305f81-a2201.webp 332w,\n/static/89f3081ed274e2fdc156b84971b239a2-052eb6469fb1cdf947c5e43b59305f81-a1ce3.webp 663w,\n/static/89f3081ed274e2fdc156b84971b239a2-052eb6469fb1cdf947c5e43b59305f81-0005a.webp 960w","sizes":"(max-width: 663px) 100vw, 663px"}}}},"author":"Aaron A"}}},{"node":{"last_publication_date":"2018-07-26T07:47:25+0000","tags":["home","inestment","chart","countries","economy"],"uid":"article-trade-as-percent-of-gdp","data":{"title":{"text":"The Remarkable Impact of Trade on the Top 30 Economies"},"body":{"text":"Click here for a hi-res version of the chart above. Here at Walletwyse, we believe that successful personal finance requires a keen understanding of the financial health of your city, state & even country.  Most people aren't internationally mobile, but the investment decisions we make should be informed by our understanding of international markets (personally, I keep most of my Roth in index funds linked to developing countries). With a lot of discussion going on about international trade, we decided to show the relative impact of international trade activity on gross domestic product (GDP). In order to achieve some comparative parity between the U.S. and the E.U., we broke out individual U.S. states that rank within the top 30 global economies on their own. We also included totals for the E.U. and U.S. combined markets. One thing you'll notice is that in Europe, international trade makes up a much larger percentage of GDP on average than in most other markets. This is because the E.U. countries get the benefit of open markets, but unlike trade between, say, California and Nevada, trade between two E.U. coutnries still counts as international, which shows how important single markets are to most European economies. Astute observers might wonder why two economies - the Netherlands and Switzerland - appear to have a NEGATIVE GDP when you exclude trade. This doesn't mean these countries don't have robust consumption & government spending (quite the opposite, in fact). It just means they export so much that they are able to import far more than their domestic economy would ever support on its own. Also of note... if you split the U.S. & E.U. into individual states, then Calfiornia, with a domestic-only GDP of over two trillion dollars, overtakes export-dependent Germany to become the 3rd-largest economy in the world once you remove the portion of GDP attributable to international trade.  All data used in this study uses World Bank methodology.  While you're here, check out our newly launched calculators! Walletwyse is not affiliated with lenders or financial advisors. Our goal is to offer unbiased, insightful advice and tools to help you make Wyse financial decisions."},"image":{"url":"https://walletwyse.cdn.prismic.io/walletwyse/2a260f16a87e74902f09dc8864c4b865b5e6ecf4_gdp-proportional-w-legend.png","dimensions":{"width":3063,"height":1550},"localFile":{"childImageSharp":{"fluid":{"base64":"data:image/png;base64,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","aspectRatio":3.32,"src":"/static/f586ee3d3e0fdf3f80acb5214ae0dccb-b76c35b51059b1f65805c74bde0a1334-a102d.png","srcSet":"/static/f586ee3d3e0fdf3f80acb5214ae0dccb-b76c35b51059b1f65805c74bde0a1334-326e4.png 166w,\n/static/f586ee3d3e0fdf3f80acb5214ae0dccb-b76c35b51059b1f65805c74bde0a1334-9f149.png 332w,\n/static/f586ee3d3e0fdf3f80acb5214ae0dccb-b76c35b51059b1f65805c74bde0a1334-a102d.png 663w,\n/static/f586ee3d3e0fdf3f80acb5214ae0dccb-b76c35b51059b1f65805c74bde0a1334-4fa7f.png 995w,\n/static/f586ee3d3e0fdf3f80acb5214ae0dccb-b76c35b51059b1f65805c74bde0a1334-aae86.png 1326w,\n/static/f586ee3d3e0fdf3f80acb5214ae0dccb-b76c35b51059b1f65805c74bde0a1334-02f7e.png 1989w,\n/static/f586ee3d3e0fdf3f80acb5214ae0dccb-b76c35b51059b1f65805c74bde0a1334-3269e.png 3063w","srcWebp":"/static/f586ee3d3e0fdf3f80acb5214ae0dccb-b76c35b51059b1f65805c74bde0a1334-05827.webp","srcSetWebp":"/static/f586ee3d3e0fdf3f80acb5214ae0dccb-b76c35b51059b1f65805c74bde0a1334-7cd2a.webp 166w,\n/static/f586ee3d3e0fdf3f80acb5214ae0dccb-b76c35b51059b1f65805c74bde0a1334-7d0bf.webp 332w,\n/static/f586ee3d3e0fdf3f80acb5214ae0dccb-b76c35b51059b1f65805c74bde0a1334-05827.webp 663w,\n/static/f586ee3d3e0fdf3f80acb5214ae0dccb-b76c35b51059b1f65805c74bde0a1334-ae182.webp 995w,\n/static/f586ee3d3e0fdf3f80acb5214ae0dccb-b76c35b51059b1f65805c74bde0a1334-0f272.webp 1326w,\n/static/f586ee3d3e0fdf3f80acb5214ae0dccb-b76c35b51059b1f65805c74bde0a1334-3b753.webp 1989w,\n/static/f586ee3d3e0fdf3f80acb5214ae0dccb-b76c35b51059b1f65805c74bde0a1334-a1a3c.webp 3063w","sizes":"(max-width: 663px) 100vw, 663px"}}}},"author":"Aaron A"}}},{"node":{"last_publication_date":"2018-07-24T05:11:12+0000","tags":["commute","city","lifestyle","chart","expenses"],"uid":"chart-100-commute-2018","data":{"title":{"text":"The Cost of Commuting"},"body":{"text":" Whether you walk, bike, ride or drive to work, one factor is constant: commutes take time. We recently compiled data on average (mean) commute times for the largest 100 U.S. statistical areas, and ranked them from longest to shortest. Because the vast majority of Americans commute by car, we also included an estimate for the cost of fuel. Here are some key findings from our study: New York City, the largest city in the U.S. Census top 100 Urban Areas, also has the longest average commute, at 36 minutes. The estimated annual fuel cost for the shortest commutes (Des Moines & Omaha - $549) is almost half the cost of the longest commute (NYC - $1041). Most of the country’s 20 largest cities have an average commute at least 30 minutes. Excluding the 20 largest urban areas, the median commute time is 24 minutes, with an estimated annual fuel cost of $694. This study, which relies on data from the 2012-2016 American Community Survey for mean commute time, calculates fuel cost based on an analysis of rush-hour commute times and corresponding distances between multiple randomly-chosen locations.  We also assume 250 commuting days per year, a U.S. average of 24.7 miles per gallon, and gasoline prices of $3."},"image":{"url":"https://walletwyse.cdn.prismic.io/walletwyse/30baf81bfa53e78488d55408bcc1b82430a1d157_i-80_eastshore_fwy.jpg","dimensions":{"width":1600,"height":1152},"localFile":{"childImageSharp":{"fluid":{"base64":"data:image/jpeg;base64,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","aspectRatio":3.32,"src":"/static/07ff6dce94891b73612e91176bf90b09-14ba1ea8561c002407f5bdcf642c3f90-e6ae9.jpg","srcSet":"/static/07ff6dce94891b73612e91176bf90b09-14ba1ea8561c002407f5bdcf642c3f90-80f39.jpg 166w,\n/static/07ff6dce94891b73612e91176bf90b09-14ba1ea8561c002407f5bdcf642c3f90-02e61.jpg 332w,\n/static/07ff6dce94891b73612e91176bf90b09-14ba1ea8561c002407f5bdcf642c3f90-e6ae9.jpg 663w,\n/static/07ff6dce94891b73612e91176bf90b09-14ba1ea8561c002407f5bdcf642c3f90-86154.jpg 995w,\n/static/07ff6dce94891b73612e91176bf90b09-14ba1ea8561c002407f5bdcf642c3f90-948d1.jpg 1326w,\n/static/07ff6dce94891b73612e91176bf90b09-14ba1ea8561c002407f5bdcf642c3f90-885cf.jpg 1600w","srcWebp":"/static/07ff6dce94891b73612e91176bf90b09-14ba1ea8561c002407f5bdcf642c3f90-a1ce3.webp","srcSetWebp":"/static/07ff6dce94891b73612e91176bf90b09-14ba1ea8561c002407f5bdcf642c3f90-92185.webp 166w,\n/static/07ff6dce94891b73612e91176bf90b09-14ba1ea8561c002407f5bdcf642c3f90-a2201.webp 332w,\n/static/07ff6dce94891b73612e91176bf90b09-14ba1ea8561c002407f5bdcf642c3f90-a1ce3.webp 663w,\n/static/07ff6dce94891b73612e91176bf90b09-14ba1ea8561c002407f5bdcf642c3f90-a0d7a.webp 995w,\n/static/07ff6dce94891b73612e91176bf90b09-14ba1ea8561c002407f5bdcf642c3f90-672f9.webp 1326w,\n/static/07ff6dce94891b73612e91176bf90b09-14ba1ea8561c002407f5bdcf642c3f90-a80dd.webp 1600w","sizes":"(max-width: 663px) 100vw, 663px"}}}},"author":"Aaron A"}}},{"node":{"last_publication_date":"2018-07-09T16:27:28+0000","tags":["united states","real estate","renting","home","cities","canada","chart"],"uid":"charts-us-cities-average-rent","data":{"title":{"text":"Average Rent of Cities in the United States & Canada"},"body":{"text":"This is a visual representation of Numbeo.com's rental index for U.S. and Canadian Cities (June 16, 2018). Indices are imperfect as a reference for a specific location, but they are a great way to compare locations. One of the interesting things about this dataset is visually associating cities you wouldn’t otherwise associate, based on similar rent levels. A few notes: This data is a “rent index”, which is an estimation of the average price of renting an apartments in the listed city There’s no a published definition of “city”, so we can't guarantee metro areas are consistenty defined Because these are averages, it's entirely possible that downtown high-rise apartments go for twice the rent listed, or large apartments in the suburbs rent for a fraction of the listed number.  Data Source: Numbeo.com's cost of living index(accessed June 16, 2018)\nTools Used: Google Sheets"},"image":{"url":"https://walletwyse.cdn.prismic.io/walletwyse/308c50c71ccf66c48a69fba687f1cb08a52759fb_26721272685_04a4f75220_b.jpg","dimensions":{"width":1024,"height":683},"localFile":{"childImageSharp":{"fluid":{"base64":"data:image/jpeg;base64,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","aspectRatio":3.32,"src":"/static/63542b6e87705d075d9dd70d379a177e-601da569b9fd586d58a6d23555f080da-e6ae9.jpg","srcSet":"/static/63542b6e87705d075d9dd70d379a177e-601da569b9fd586d58a6d23555f080da-80f39.jpg 166w,\n/static/63542b6e87705d075d9dd70d379a177e-601da569b9fd586d58a6d23555f080da-02e61.jpg 332w,\n/static/63542b6e87705d075d9dd70d379a177e-601da569b9fd586d58a6d23555f080da-e6ae9.jpg 663w,\n/static/63542b6e87705d075d9dd70d379a177e-601da569b9fd586d58a6d23555f080da-86154.jpg 995w,\n/static/63542b6e87705d075d9dd70d379a177e-601da569b9fd586d58a6d23555f080da-01a57.jpg 1024w","srcWebp":"/static/63542b6e87705d075d9dd70d379a177e-601da569b9fd586d58a6d23555f080da-a1ce3.webp","srcSetWebp":"/static/63542b6e87705d075d9dd70d379a177e-601da569b9fd586d58a6d23555f080da-92185.webp 166w,\n/static/63542b6e87705d075d9dd70d379a177e-601da569b9fd586d58a6d23555f080da-a2201.webp 332w,\n/static/63542b6e87705d075d9dd70d379a177e-601da569b9fd586d58a6d23555f080da-a1ce3.webp 663w,\n/static/63542b6e87705d075d9dd70d379a177e-601da569b9fd586d58a6d23555f080da-a0d7a.webp 995w,\n/static/63542b6e87705d075d9dd70d379a177e-601da569b9fd586d58a6d23555f080da-c296e.webp 1024w","sizes":"(max-width: 663px) 100vw, 663px"}}}},"author":"Aaron A"}}},{"node":{"last_publication_date":"2018-07-05T19:19:57+0000","tags":["Home","chart","graph","rental","index"],"uid":"worldwide-rental-price-index","data":{"title":{"text":"Worldwide Rental Price Index"},"body":{"text":"This is a list of 540 cities, grouped by average monthly apartment cost, from Granada, Spain & Phuket, Thailand (avg. rent $450) to Akron, Ohio & Taipei, Taiwan ($650), to my favorite, Abu Dhabi, UAE & Seattle, WA ($1950). The reason we didn’t select a map-based chart is because the visuals of a map draw your eye to a location first and then to contrasts in colors. For this dataset, it's interesting to see cities grouped together that you wouldn’t otherwise associate, based on similar rent levels. We were skeptical you could accomplish this with a map, so instead we showed geographic associations by color-coding regions. We also think there are lots of interesting stuff happening in the way the regions are distributed: Asia totally dominates the lower tiers, Europe is incredibly diverse, and South America is surprisingly (or not) clustered together. "},"image":{"url":"https://walletwyse.cdn.prismic.io/walletwyse/b2c6ae4054e1e101eb821a5eb4bfeea300f0c122_tall_buildings_glass_windows_intensive_china_apartments_positive-1165777.jpg","dimensions":{"width":1200,"height":800},"localFile":{"childImageSharp":{"fluid":{"base64":"data:image/jpeg;base64,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","aspectRatio":3.32,"src":"/static/4d80b61ae051740c8acff53e4854824c-ea96baf1ca905a2c3e3593beaeaf4bb1-e6ae9.jpg","srcSet":"/static/4d80b61ae051740c8acff53e4854824c-ea96baf1ca905a2c3e3593beaeaf4bb1-80f39.jpg 166w,\n/static/4d80b61ae051740c8acff53e4854824c-ea96baf1ca905a2c3e3593beaeaf4bb1-02e61.jpg 332w,\n/static/4d80b61ae051740c8acff53e4854824c-ea96baf1ca905a2c3e3593beaeaf4bb1-e6ae9.jpg 663w,\n/static/4d80b61ae051740c8acff53e4854824c-ea96baf1ca905a2c3e3593beaeaf4bb1-86154.jpg 995w,\n/static/4d80b61ae051740c8acff53e4854824c-ea96baf1ca905a2c3e3593beaeaf4bb1-36086.jpg 1200w","srcWebp":"/static/4d80b61ae051740c8acff53e4854824c-ea96baf1ca905a2c3e3593beaeaf4bb1-a1ce3.webp","srcSetWebp":"/static/4d80b61ae051740c8acff53e4854824c-ea96baf1ca905a2c3e3593beaeaf4bb1-92185.webp 166w,\n/static/4d80b61ae051740c8acff53e4854824c-ea96baf1ca905a2c3e3593beaeaf4bb1-a2201.webp 332w,\n/static/4d80b61ae051740c8acff53e4854824c-ea96baf1ca905a2c3e3593beaeaf4bb1-a1ce3.webp 663w,\n/static/4d80b61ae051740c8acff53e4854824c-ea96baf1ca905a2c3e3593beaeaf4bb1-a0d7a.webp 995w,\n/static/4d80b61ae051740c8acff53e4854824c-ea96baf1ca905a2c3e3593beaeaf4bb1-1612a.webp 1200w","sizes":"(max-width: 663px) 100vw, 663px"}}}},"author":"A Ansel"}}},{"node":{"last_publication_date":"2018-06-19T22:18:15+0000","tags":["retirement","investment","spending","saving"],"uid":"a-coffee-a-day-pushes-retirement-away","data":{"title":{"text":"A Coffee a Day Pushes Retirement Away"},"body":{"text":"That $5 a day coffee habit can delay retirement by up to 3 years.   Purchasing a $5 coffee from a coffee shop every day instead of brewing at home or drinking what is available at the office can not only delay retirement by itself, but it can give you ulcers realizing how much money and financial freedom you have guzzled down.  Don’t do it!  Instead, invest that $5 a day into an index fund, and at an estimated 7% - 8% return, your investment could swell to over $140,000 in 25 years. Use our investment calculator to see for yourself!   Daily investments are a great way to become a disciplined saver.  In today’s world purchasing is easy, a quick slide of a card or a touchless payment via a phone, it can become an unconscious activity to quickly grab a coffee.  Instead of succumbing to the convenience of buying your Joe from a barista, reward yourself for breaking the cycle and invest that $5 into an index fund every day that you do not purchase the coffee.  You will simultaneously save and give yourself an active Wyse reward; the act of frequently moving the money into your investments will feel good!  While $5 is a relatively small amount, regularly moving the money into savings will help engrain a Wyse mentality that will carry over into other unconscious spending habits.  You will being to question all of your purchase and want to save in more areas! Plan ahead.  Look for opportunities to buy bulk coffee beans, experiment with different flavors and tastes, use pour over coffee makers with reusable filters to reduce costs further, and enjoy the process!  While buying a coffee is easy, it isn’t rewarding in the Wyse sense, and the process of brewing and enjoying a cup of your own coffee becomes its own kind of treat.   With very little effort, a little planning, and by breaking the daily habit you can save an extra $140,000 for retirement, buy that new car with cash, or save for the down-payment on a house.  You can also use that $5 to actively pay down debt everyday instead of investing if the math makes sense.  Don’t fall into the convenience trap! \n"},"image":{"url":"https://walletwyse.cdn.prismic.io/walletwyse/e1d426977b66db0a351f50c32be3f1ee669dc8e9_coffee-1580595_1920.jpg","dimensions":{"width":1920,"height":1024},"localFile":{"childImageSharp":{"fluid":{"base64":"data:image/jpeg;base64,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","aspectRatio":3.32,"src":"/static/5be159129c25877258dd3cec31618bd4-74e22970ba85b83946d653ac4e5be3c2-e6ae9.jpg","srcSet":"/static/5be159129c25877258dd3cec31618bd4-74e22970ba85b83946d653ac4e5be3c2-80f39.jpg 166w,\n/static/5be159129c25877258dd3cec31618bd4-74e22970ba85b83946d653ac4e5be3c2-02e61.jpg 332w,\n/static/5be159129c25877258dd3cec31618bd4-74e22970ba85b83946d653ac4e5be3c2-e6ae9.jpg 663w,\n/static/5be159129c25877258dd3cec31618bd4-74e22970ba85b83946d653ac4e5be3c2-86154.jpg 995w,\n/static/5be159129c25877258dd3cec31618bd4-74e22970ba85b83946d653ac4e5be3c2-948d1.jpg 1326w,\n/static/5be159129c25877258dd3cec31618bd4-74e22970ba85b83946d653ac4e5be3c2-d3cba.jpg 1920w","srcWebp":"/static/5be159129c25877258dd3cec31618bd4-74e22970ba85b83946d653ac4e5be3c2-a1ce3.webp","srcSetWebp":"/static/5be159129c25877258dd3cec31618bd4-74e22970ba85b83946d653ac4e5be3c2-92185.webp 166w,\n/static/5be159129c25877258dd3cec31618bd4-74e22970ba85b83946d653ac4e5be3c2-a2201.webp 332w,\n/static/5be159129c25877258dd3cec31618bd4-74e22970ba85b83946d653ac4e5be3c2-a1ce3.webp 663w,\n/static/5be159129c25877258dd3cec31618bd4-74e22970ba85b83946d653ac4e5be3c2-a0d7a.webp 995w,\n/static/5be159129c25877258dd3cec31618bd4-74e22970ba85b83946d653ac4e5be3c2-672f9.webp 1326w,\n/static/5be159129c25877258dd3cec31618bd4-74e22970ba85b83946d653ac4e5be3c2-f2c39.webp 1920w","sizes":"(max-width: 663px) 100vw, 663px"}}}},"author":"Stephen N."}}},{"node":{"last_publication_date":"2018-06-07T22:07:36+0000","tags":["car","investment","cost comparison","lifestyle"],"uid":"cost-comparison-leasing-vs-buying","data":{"title":{"text":"Cost Comparison: Leasing vs Buying"},"body":{"text":"Leasing your ride comes with some serious perks.  You get to sport a new car every few years, you don't ever have to worry about maintenance, and at the end of the day you get to walk away without the hassle of stressing over depreciation and resale.  Awesome, right? Definitely... but only if you can afford it. In this Cost Comparison, we're going to look at the financial impact of leasing vs. buying.  As always, we endeavor to support our analysis with legit data, while being transparent and comprehensive. Follow along using the \"Wyse\" tab of our Car Purchase Calculator. The Basics We're looking at a 2018 Rav4 SE with an asking price of $30k. If you're a master negotiator who would never pay sticker, feel free to assume you've added a package or two but haggled it down to $30k. If we buy, we're hanging on to it for 6 years, which is about average.  If we lease instead, then we're doing two 10,000 mile back-to-back three-year leases, with the second vehicle also valued at $30k. Whether we lease or buy, we'll be putting 10% down. If leasing, let's assume we only put 5% down for lease number two, since the high demand for such a dope car is going to give us some negotiating leverage the second time around. Assumptions As buyers, we qualify for a 4.6% interest rate on a 60-month auto loan. We're buying this vehicle in Columbus, Ohio (Zip 43210), so our sales tax is 7.50%. Insurance will run us $100 per month, and we're driving about 10k miles per year, so we'll be spending around $125 per month on gas. The state of Ohio charges a measly $34.50 in annual fees. Because we're buying a new vehicle, we'll assume annual maintenance fees for the first few years will be minimal, but just in case something happens after the 36-month warranty, we'll budget $150 per year for maintenance over six years. Cars depreciate using a double-declining balance method that can be averaged to 11%, which means our RAV-4 will be worth about half of sticker after six years. To a lessee, some of these numbers are going to look a little different.  When you lease, your \"interest rate\" is a combination of a money factor and residual value. If you plan to return your car at the end of your lease, these numbers serve absolutely no useful purpose, but they do make harder to know whether you're getting a good deal.  For this calculation, we'll simplify and plug in a purchase price equal to sticker plus tax on the leased portion ($31,250) less the residual value ($15,000) to get to the number we are effectively financing. We'll use the same cost of gas, insurance and fees, budget $50 per year for any random maintenance that aren't covered by the lease, and use the same rate. Calculations As buyers, our monthly loan payments come to about $547, whereas operational costs are $240. Over the six-year period, our total out of pocket costs are $50,105.36 after adding in the down payment. Monthly lease payments come to just about $427, with operational costs of $232. For both three-year periods, that's a total cost of $51,942 (remember we only got charged 5% up-front when we entered into our second lease). The total costs of $50,105 and $51,942 for buying and leasing respectively are fairly close, until you add back in the value of the car at the end of six years. That brings the total output for the buyer down to just $35,105, a whopping $16,837 savings over the lessee. If we account for opportunity cost (the value of our payments if we'd invested them instead), it raises the cost of leasing just a bit since you spent more over time, but not enough to make it worthwhile walking through the calculations. If you try it yourself, you should get a spread of less than $1,000. Utility If you thought the buyer had the last word, think again. While clearly coming out ahead in terms of cost-savings, the buyer is almost certainly going to lose to the lessee in one type of cost: utility. For almost everyone, the utility - the relative enjoyment of the purchase - is going to be higher for the lessee. Seriously, how nice is it to get a new car every three years? Upgraded technology, a more contemporary look... all the reasons people buy new cars instead of reliable used vehicles. Also, remember that our annual maintenance fees were just estimates... it's possible that something catastrophic could happen in year 5 that would cost the buyer and arm and a leg. With a Toyota it's unlikely, but you can't rule it out. That being said, there is a certain type of utility the buyer gets to enjoy that the lessee will never experience. It's the same type of utility that comes from owning a home rather than renting one for the same price. Sure, you've got to deal with upkeep, repairs, and all the burdens that come with being an owner, but it's still your car. At the end of the day, that's worth a few extra bucks all on its own. * * * The Cost Comparison series is by-the-numbers look at different discretionary financial decisions.  The format follows the Wyse approach: collect basic data, make educated assumptions, and be honest about the true cost of ownership.  Like all of our content, every article is completely original and exclusive. "},"image":{"url":"https://walletwyse.cdn.prismic.io/walletwyse/224ca9d00118fa91cb231bfeda06a8e5e3fd7ed2_pexels-photo-116675.jpeg","dimensions":{"width":6000,"height":3376},"localFile":{"childImageSharp":{"fluid":{"base64":"data:image/jpeg;base64,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","aspectRatio":3.32,"src":"/static/5c0dd2bdb79e70dddd453ec9cba5a85b-f45e74aa7742159448cbce66c9de18bd-e6ae9.jpeg","srcSet":"/static/5c0dd2bdb79e70dddd453ec9cba5a85b-f45e74aa7742159448cbce66c9de18bd-80f39.jpeg 166w,\n/static/5c0dd2bdb79e70dddd453ec9cba5a85b-f45e74aa7742159448cbce66c9de18bd-02e61.jpeg 332w,\n/static/5c0dd2bdb79e70dddd453ec9cba5a85b-f45e74aa7742159448cbce66c9de18bd-e6ae9.jpeg 663w,\n/static/5c0dd2bdb79e70dddd453ec9cba5a85b-f45e74aa7742159448cbce66c9de18bd-86154.jpeg 995w,\n/static/5c0dd2bdb79e70dddd453ec9cba5a85b-f45e74aa7742159448cbce66c9de18bd-948d1.jpeg 1326w,\n/static/5c0dd2bdb79e70dddd453ec9cba5a85b-f45e74aa7742159448cbce66c9de18bd-17414.jpeg 1989w,\n/static/5c0dd2bdb79e70dddd453ec9cba5a85b-f45e74aa7742159448cbce66c9de18bd-a303a.jpeg 6000w","srcWebp":"/static/5c0dd2bdb79e70dddd453ec9cba5a85b-f45e74aa7742159448cbce66c9de18bd-a1ce3.webp","srcSetWebp":"/static/5c0dd2bdb79e70dddd453ec9cba5a85b-f45e74aa7742159448cbce66c9de18bd-92185.webp 166w,\n/static/5c0dd2bdb79e70dddd453ec9cba5a85b-f45e74aa7742159448cbce66c9de18bd-a2201.webp 332w,\n/static/5c0dd2bdb79e70dddd453ec9cba5a85b-f45e74aa7742159448cbce66c9de18bd-a1ce3.webp 663w,\n/static/5c0dd2bdb79e70dddd453ec9cba5a85b-f45e74aa7742159448cbce66c9de18bd-a0d7a.webp 995w,\n/static/5c0dd2bdb79e70dddd453ec9cba5a85b-f45e74aa7742159448cbce66c9de18bd-672f9.webp 1326w,\n/static/5c0dd2bdb79e70dddd453ec9cba5a85b-f45e74aa7742159448cbce66c9de18bd-b6a42.webp 1989w,\n/static/5c0dd2bdb79e70dddd453ec9cba5a85b-f45e74aa7742159448cbce66c9de18bd-5384d.webp 6000w","sizes":"(max-width: 663px) 100vw, 663px"}}}},"author":"Aaron A"}}},{"node":{"last_publication_date":"2018-06-04T16:19:33+0000","tags":["home","investment","mortgage","interest"],"uid":"paying-off-a-mortgage-early","data":{"title":{"text":"Paying Off a Mortgage Early"},"body":{"text":"Congratulations! You've bought your dream house, or maybe your first house, which is also a dream. Maybe you've bought a house that you plan to remodel one day, or one that you don't love but is home for now. Whichever the case may be, you have big choices to make. Do you pay off your mortgage over the life of the note or do you pay it down early? Because every home is an investment, the way in which you pay off your mortgage can have big impacts on your net worth over the long term.  What is your interest rate? How much cash you give the bank every month for the privilege of borrowing their money should be one of the key factors you consider when determining how to pay off your mortgage. If you secured your mortgage in the past few years, you likely have a rate below 4-5%, which is generally considered very good. When financial planners estimate returns for other investments they generally assume something between 6-8%. At a very high level, you can assume that if your mortgage rate is 50% less than the average return in the market, it makes sense to invest your money elsewhere. Of course, like most things, it's not always that simple.  What is your family situation? Are you a growing family, single person, or maybe a multi-generational family? All of these factors may change the way you look at your mortgage. If your family is established and you know that you will be living in your home for the long haul, it may change the way you view the mortgage. If you are approaching retirement, the monthly cost of your mortgage may be problematic on a fixed income. If you are a young professional and do not see yourself in the home long term, that too can be a major factor when deciding how to attack the mortgage balance.   What else should I be thinking about? Generally speaking, carrying a mortgage is not a bad thing. If your rate is reasonable, you are saving for retirement in tax-advantaged savings plans like a 401k or IRA, and you have stable income, it may make sense to the carry the mortgage for the full term. This is particularly true if you are earning returns greater than your mortgage interest rate in your other investments. There are a few other things to consider when making this determination. First, mortgage interest is deductible if you are itemizing when filing your taxes. The standard deduction was recently increased as part of the new tax plan, therefore it is not as beneficial to carry a mortgage for most people than it used to be from a tax perspective.  But if you are taking the standard deduction, you end up getting a large deduction whether or not you are paying mortgage interest, and in that case it is better to get the benefit without the cost of mortgage interest.   Are there other risks? Yes, one thing many people forget is that when you \"own\" your home you don't \"own\" your home. What this means is that if you end up in a situation where you cannot pay your mortgage, it is possible that the bank forecloses. Whatever equity you have in your home at the time of foreclosure may be lost. If you are in an uncertain job market, a profession with irregular income streams, or some other circumstance you should understand that your home is not a bank account, because it can be taken from you. Also, homes are not liquid. If you need the equity from your home for some other reason, you will end up paying interest for the ability to borrow against your own equity in the form of a second mortgage or line of credit.   What about peace of mind? This  factor cannot necessarily be calculated and is an extremely personal reason for paying down a mortgage early. The idea that your home can be  foreclosed for lack of payment is a reason for people to pay down their mortgage faster so that they are no longer beholden to their mortgage providers. For most people, the mortgage payment is the single largest cash outlay every month and eliminating that expense allows them to be  more flexible in retirement, investing, and their professional life.  Some people know that they won't realistically invest the additional  money they would throw at their mortgage, so paying down their mortgage  is a way to avoid lifestyle creep, while insuring a return of whatever their interest rate may be.\n Conclusion Paying off your home is an extremely personal decision and it is equal parts financial pragmatism and risk tolerance. Generally, you will never hear of someone that is upset because they chose to pay off their mortgage early. While they may have had a better return elsewhere, they now have peace of mind and the financial flexibility of more free cash flow. That being said, paying down your mortgage early does carry its own set of  risks and can end up backfiring spectacularly in the event of a housing collapse.  "},"image":{"url":"https://walletwyse.cdn.prismic.io/walletwyse/b084627bc8608a9d16ccd99714a52ec3c969b1ca_29303116852_e4315a2681_b.jpg","dimensions":{"width":1024,"height":683},"localFile":{"childImageSharp":{"fluid":{"base64":"data:image/jpeg;base64,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","aspectRatio":3.32,"src":"/static/e722262cfb4bc30f92e02a2c1b220b43-2e81083eb5c1f6ac0258b606ff06876c-e6ae9.jpg","srcSet":"/static/e722262cfb4bc30f92e02a2c1b220b43-2e81083eb5c1f6ac0258b606ff06876c-80f39.jpg 166w,\n/static/e722262cfb4bc30f92e02a2c1b220b43-2e81083eb5c1f6ac0258b606ff06876c-02e61.jpg 332w,\n/static/e722262cfb4bc30f92e02a2c1b220b43-2e81083eb5c1f6ac0258b606ff06876c-e6ae9.jpg 663w,\n/static/e722262cfb4bc30f92e02a2c1b220b43-2e81083eb5c1f6ac0258b606ff06876c-86154.jpg 995w,\n/static/e722262cfb4bc30f92e02a2c1b220b43-2e81083eb5c1f6ac0258b606ff06876c-01a57.jpg 1024w","srcWebp":"/static/e722262cfb4bc30f92e02a2c1b220b43-2e81083eb5c1f6ac0258b606ff06876c-a1ce3.webp","srcSetWebp":"/static/e722262cfb4bc30f92e02a2c1b220b43-2e81083eb5c1f6ac0258b606ff06876c-92185.webp 166w,\n/static/e722262cfb4bc30f92e02a2c1b220b43-2e81083eb5c1f6ac0258b606ff06876c-a2201.webp 332w,\n/static/e722262cfb4bc30f92e02a2c1b220b43-2e81083eb5c1f6ac0258b606ff06876c-a1ce3.webp 663w,\n/static/e722262cfb4bc30f92e02a2c1b220b43-2e81083eb5c1f6ac0258b606ff06876c-a0d7a.webp 995w,\n/static/e722262cfb4bc30f92e02a2c1b220b43-2e81083eb5c1f6ac0258b606ff06876c-c296e.webp 1024w","sizes":"(max-width: 663px) 100vw, 663px"}}}},"author":"Stephen N."}}},{"node":{"last_publication_date":"2018-06-04T04:42:25+0000","tags":["investment","saving","college"],"uid":"the-529-and-college-savings","data":{"title":{"text":"The 529 and College Savings"},"body":{"text":"The 529 is a tax-advantaged college savings tool that can be extremely useful depending on a family's financial situation. 529s act like other investment accounts but they allow for tax-free withdraws for qualified education expenses. Much like a 401k or IRA, funds can be withdrawn for other purposes, but they will be taxed and penalized 10% in these cases. Think of it as a Roth IRA for your child's education expenses!  What is a qualified education expense? In order for funds to be withdrawn tax-free, and without penalty, funds must be withdrawn and used for tuition, fees, books, or room and board at an \"eligible\" university. Additionally, recently tax changes now allow 529 funds to be used for lower education costs as well (up to $10k per year), making the 529 even more flexible.   What are some other benefits of 529s? If you are already taking advantage of other tax advantaged savings vehicles (401k, IRA, etc), then a 529 will give you similar tax advantages that you are familiar with. Some states have additional tax benefits (e.g. Illinois, Indiana, Iowa, Kansas) that will allow you to deduct your 529 contributions giving you even more tax advantaged savings. Indiana for example offers a 20% tax credit on up to $5,000 per year that can then be claimed against Indiana income tax (yearly maximum of $1,000).  Why wouldn't I use a 529? Some families choose not to utilize 529s because they may not want to have their investments limited to educational expenses. Because, withdrawing from a 529 for anything other than educational expenses triggers a 10% penalty, families often defer to a traditional investment account for increased flexibility. Additionally, not all 529 accounts give the same investment options as traditional investment accounts, which turns off many investors. Not all states offer additional 529 tax benefits so the benefit may not be as beneficial in certain states.  How much do I invest in a 529? This is one of the most difficult questions about 529 investing. Schools can vary in cost dramatically; in some cases they can be hundreds of thousands of dollars different! This makes saving in a 529 challenging for families because it is difficult to know what an appropriate amount is in order to realize the maximum tax benefit, while also covering the majority of college costs. College costs are constantly increasing at both private and public schools. A common conservative approach is to set a goal of covering expected tuition at your local state university as a baseline in a 529, and potentially set aside funds in a traditional investment account. If your child chooses a more expensive school, then use funds from the investment account to cover the delta. If your child goes to a less expensive school or does not have college costs to pay, the 529 can be transferred to a qualifying family member, such as another child, niece or nephew, or grandchild, while the additional funds in the traditional investment account can be used for early retirement.  Conclusion At the end of the day the 529 is a great tool for saving for college. Some families actually appreciate the 10% penalty associated with the accounts because it makes them less likely to tap into as a rainy day fund, like they might with other investment accounts. This ensures that at least some part of your child's education funds are \"safe.\" Because 529 beneficiary rules are so flexible, there should be little concern that the money is \"stuck\" in an inefficient investment when it comes time to withdraw. With the recent new updates to the tax code allowing funds to be used for lower education expenses, 529s are more flexible than ever and should be part of every family's portfolio, even if just a small piece."},"image":{"url":"https://walletwyse.cdn.prismic.io/walletwyse/58ed8e2768a073def5ab54c587c558943985a24d_collegesaving.jpg","dimensions":{"width":1024,"height":896},"localFile":{"childImageSharp":{"fluid":{"base64":"data:image/jpeg;base64,/9j/2wBDABALDA4MChAODQ4SERATGCgaGBYWGDEjJR0oOjM9PDkzODdASFxOQERXRTc4UG1RV19iZ2hnPk1xeXBkeFxlZ2P/2wBDARESEhgVGC8aGi9jQjhCY2NjY2NjY2NjY2NjY2NjY2NjY2NjY2NjY2NjY2NjY2NjY2NjY2NjY2NjY2NjY2NjY2P/wgARCAASABQDASIAAhEBAxEB/8QAFwABAQEBAAAAAAAAAAAAAAAAAAMFAv/EABUBAQEAAAAAAAAAAAAAAAAAAAAB/9oADAMBAAIQAxAAAAHahxGNVJUhAH//xAAdEAEAAgAHAAAAAAAAAAAAAAACAAEDEBESFCIj/9oACAEBAAEFAliUZyDuqJelpam+uf8A/8QAFBEBAAAAAAAAAAAAAAAAAAAAIP/aAAgBAwEBPwEf/8QAFBEBAAAAAAAAAAAAAAAAAAAAIP/aAAgBAgEBPwEf/8QAHRAAAQIHAAAAAAAAAAAAAAAAAQARAhASICExcf/aAAgBAQAGPwLKaWj1UiEl0Hs//8QAGRABAQEBAQEAAAAAAAAAAAAAAREAISAx/9oACAEBAAE/IbPzjrvXKlxjvYkZ7bCFTKB0zvj/2gAMAwEAAgADAAAAEEwPPP/EABURAQEAAAAAAAAAAAAAAAAAABEg/9oACAEDAQE/ECP/xAAVEQEBAAAAAAAAAAAAAAAAAAARIP/aAAgBAgEBPxBj/8QAHRABAQACAgMBAAAAAAAAAAAAAREAITFREEGRof/aAAgBAQABPxAukB3vI0nFdH3IcSlyN6Y2cP5jnVIUL7WWHWBgCBDy+JvFz//Z","aspectRatio":3.32,"src":"/static/064f7330a6211595368da0ed27aa49a2-d4fa3078e947ce38f426825b0bff0a7b-e6ae9.jpg","srcSet":"/static/064f7330a6211595368da0ed27aa49a2-d4fa3078e947ce38f426825b0bff0a7b-80f39.jpg 166w,\n/static/064f7330a6211595368da0ed27aa49a2-d4fa3078e947ce38f426825b0bff0a7b-02e61.jpg 332w,\n/static/064f7330a6211595368da0ed27aa49a2-d4fa3078e947ce38f426825b0bff0a7b-e6ae9.jpg 663w,\n/static/064f7330a6211595368da0ed27aa49a2-d4fa3078e947ce38f426825b0bff0a7b-86154.jpg 995w,\n/static/064f7330a6211595368da0ed27aa49a2-d4fa3078e947ce38f426825b0bff0a7b-01a57.jpg 1024w","srcWebp":"/static/064f7330a6211595368da0ed27aa49a2-d4fa3078e947ce38f426825b0bff0a7b-a1ce3.webp","srcSetWebp":"/static/064f7330a6211595368da0ed27aa49a2-d4fa3078e947ce38f426825b0bff0a7b-92185.webp 166w,\n/static/064f7330a6211595368da0ed27aa49a2-d4fa3078e947ce38f426825b0bff0a7b-a2201.webp 332w,\n/static/064f7330a6211595368da0ed27aa49a2-d4fa3078e947ce38f426825b0bff0a7b-a1ce3.webp 663w,\n/static/064f7330a6211595368da0ed27aa49a2-d4fa3078e947ce38f426825b0bff0a7b-a0d7a.webp 995w,\n/static/064f7330a6211595368da0ed27aa49a2-d4fa3078e947ce38f426825b0bff0a7b-c296e.webp 1024w","sizes":"(max-width: 663px) 100vw, 663px"}}}},"author":"Stephen N."}}},{"node":{"last_publication_date":"2018-06-02T20:40:13+0000","tags":["commute","bicycle","car","maintenance","cost-of-ownership","cost comparison","utility","vehicle"],"uid":"cost-comparison-commuting","data":{"title":{"text":"Cost Comparison: Commuting"},"body":{"text":"Before you purchase your next ride, wise up to these  factors, two of which almost no-one measures.  You might still get some wheels, but perhaps not the ones you expected. The Cost Comparison series is by-the-numbers look at two different options for various discretionary financial decisions. The format follows the Wyse approach: collect basic data, make educated assumptions, and be honest about the true cost of ownership.  Like all of our content, every article is completely original and exclusive.  To kick the series off, we're going to look at a topic dear to my heart: commuting by bicycle vs commuting by car.  My chariot of choice is an electric pedal assist, so let's go with that. The Basics First, let's talk sticker price. Your average new car costs north of $30k. This makes the traditional 20-4-10 rule seem anachronistic, sort of like your grandpa's stories about paying for school with a job at the five-and-dime (whatever that is). For a $32k car ($35k with taxes and fees) you're looking at a recommended $7k down, with $28k financed.  Let's call the loan a four-year at a solid interest rate of 3%. On the other hand, a decent  electric bicycle runs anywhere from $2-4k.  And speaking of running, many electric bicycles can go 40+ miles on a charge, so hold off on the “not with my commute” argument. Let's account for the elements by throwing in $500 for top-of-the-line wet or cold-weather gear, and call our up-front cost $3,500, which we pay off on day one. Assumptions When it comes to large assets, many financially savvy folks “misunderestimate” the true cost of ownership, usually by failing to account for some cost element. We attempt to correct for this at WW by modeling our advice and our calculators to make a reasonable estimate of ongoing costs, as well as opportunity cost (more on that later). For the car, our principal & interest payment is about $620.  Adding in insurance, gas, licensing plus a modest yearly maintenance, takes us to an effective monthly cost of $330 for the life of the car.  Let's run the numbers on that electric-assist bike. You didn't finance, so that part is easy. Conservatively, keeping the battery topped will run you about $1.50 per month. Convinced yet? Adding in regular tune-ups and a modest increase in your personal-injury insurance (via either home-owners or renters) ups the total monthly cost to somewhere in the neighborhood of $25. Opportunity Cost At WalletWyse one of our missions is to educate our readers that expenditures are only part of a financial decision.  Any significant purchase (think four figures or more)  is also moving funds from the interest-earning assets side of your balance sheet to the liabilities side. The loss return on those assets is the Opportunity Cost, which we'll call the “OC”. If a good investment is the ghost of Christmas future, the OC is the ghost of Christmas past. It's the trip you should have taken, the girl or boy you could have dated but never asked out... okay, you get the point. The 10-year OC for that 32k car is about $30k dollars. That's about the amount the down payment, loan payments, and the ongoing costs would earn in an index fund over the same period. The bicycle's 10-year OC is approximately $5k.  In other words, investing the money you'd spend over the lifetime of the car would generate almost enough profit to buy the car with cash, and still have your original investment left over.  Ever wonder why the rich get richer? Bonus Section - Utility Utility is not a purely financial consideration, so let's keep this section short. Utility, in economic terms, is the usefulness or enjoyment a consumer gets from her purchase. It's also where even the most level-headed of us can quickly veer off course, since the imagined utility of a 400 horsepower roadster can't really be topped by anything with pedals. The bicycle, however, does have certain utility benefits that a car will never have, including built-in exercise, the freedom from traffic-related stress, and the benefit of more time outdoors.  Ultimately, you'll need to do your own math, but be sure to consider the long-term enjoyment as well as the short-term rush of your purchase. Total Cost of Ownership At this point it's time to run the numbers.  To calculate the total cost of ownership, we add up the initial payment, the sum of the monthly operating costs, as well as the opportunity cost for the two vehicles, then subtracted out the respective resale values assuming a standard depreciation over ten years.   Ready?  The total cost of ownership for the car is about $90k. The bike comes in a hair above $10k. For those of us who go for the bike, the question becomes what to do with that $80k spread.  You could go and buy a roadster.  My recommendation?  Invest the difference and retire a couple of years earlier.  Then buy the roadster.  *** The Cost Comparison series is by-the-numbers look at different discretionary financial decisions.  The format follows the Wyse approach: collect basic data, make educated assumptions, and be honest about the true cost of ownership.  Like all of our content, every article is completely original and exclusive. \n"},"image":{"url":"https://walletwyse.cdn.prismic.io/walletwyse/4efef44d1549321c9161cbf5e666b18a8ff8a9c6_bicycle-commute.jpg","dimensions":{"width":960,"height":554},"localFile":{"childImageSharp":{"fluid":{"base64":"data:image/jpeg;base64,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","aspectRatio":3.32,"src":"/static/6a378acdeebf4b0207867e3169618d7e-14e86683ba092bf57a223d6bc3e60976-e6ae9.jpg","srcSet":"/static/6a378acdeebf4b0207867e3169618d7e-14e86683ba092bf57a223d6bc3e60976-80f39.jpg 166w,\n/static/6a378acdeebf4b0207867e3169618d7e-14e86683ba092bf57a223d6bc3e60976-02e61.jpg 332w,\n/static/6a378acdeebf4b0207867e3169618d7e-14e86683ba092bf57a223d6bc3e60976-e6ae9.jpg 663w,\n/static/6a378acdeebf4b0207867e3169618d7e-14e86683ba092bf57a223d6bc3e60976-58f27.jpg 960w","srcWebp":"/static/6a378acdeebf4b0207867e3169618d7e-14e86683ba092bf57a223d6bc3e60976-a1ce3.webp","srcSetWebp":"/static/6a378acdeebf4b0207867e3169618d7e-14e86683ba092bf57a223d6bc3e60976-92185.webp 166w,\n/static/6a378acdeebf4b0207867e3169618d7e-14e86683ba092bf57a223d6bc3e60976-a2201.webp 332w,\n/static/6a378acdeebf4b0207867e3169618d7e-14e86683ba092bf57a223d6bc3e60976-a1ce3.webp 663w,\n/static/6a378acdeebf4b0207867e3169618d7e-14e86683ba092bf57a223d6bc3e60976-0005a.webp 960w","sizes":"(max-width: 663px) 100vw, 663px"}}}},"author":"Aaron A"}}},{"node":{"last_publication_date":"2018-04-08T18:43:13+0000","tags":["car","insurance","depreciation","loan"],"uid":"making-a-wyse-car-purchase","data":{"title":{"text":"Making a Wyse Car Purchase"},"body":{"text":"Car purchases can be one of the most exciting, stressful, and expensive decisions we make in our lives. The day of your purchase is merely the beginning of the financial adventure that is car ownership. Whether you opt for a fuel efficient commuter car, truck to haul tools or a boat, or the sports car you always dreamed of, some basic knowledge will help you make an informed decision so you can plan accordingly.  1. Sales Tax, License, and Other Fees - The day of your purchase you may be shocked to learn that the price you land on for your new car may not include sales tax. The average sales tax in the United States is over 8% and the average sales price for a new car is over $30,000, which means that you can expect to pay approximately $2,500 on average when buying a new car. In addition, dealers typically tack on a variety of other fees you may not be expecting and only appear at the time of signing. The cost of registering a car varies by state but can be a shock to the uninitiated. It's also important to know that these fees are recurring every year and they can change as local law changes. Be prepared to pay hundreds of dollars to legally operate your car in your state every year. 2. Fuel Costs - We all know that the more we drive the more our gas costs skyrocket. One thing we don't always consider is that fuel costs can vary dramatically by car type. Premium fuel can cost fifty cents more per gallon, or five to ten dollars per fill up depending on the car. Taking a realistic look at car mileage and fuel costs is critical to understanding your expenses over the long term. 3. Insurance Costs - Most car purchases start with the car and tax, license, fees, and insurance come later. Unfortunately, insurance costs can vary wildly depending on the car type, miles driven, location, and the drivers profile. Understanding insurance costs is a prerequisite to the Wyse car selection process. 4. Maintenance and Repairs - All cars are not created equal. Quality doesn't just vary by brand, but can vary across a single model by year, location of manufacture, or design. Gathering information on reliability and quality for the cars you are considering can be the difference between tens of thousands of dollars over the life of a vehicle. Researching 5-year cost of ownership for the cars you are considering is a good place to begin your car-maintance education. 5. Depreciation - Depreciation is often one of the last things people consider when they purchase vehicles, but is one of the most costly. Unless you car is a collectors item it will undoubtably lose value over time. Understanding how long you plan to keep your car and what it will be worth when you decide to sell is an easy way to think about depreciation. Some cars have notoriously bad resale values, while others are coveted by the used car market and hold their value well. Even though depreciation doesn't feel like an expense in the same way as fuel or maintenance, the effect on your bottom line is the same. 6. Finance Costs - Unless you buy your car with cash, you will pay a lender for the privilege of borrowing their money. Whether leasing or buying, finance costs are an unavoidable part of buying a car. Shopping for the best rate with the best conditions can save you hundreds or thousands of dollars over the life of a loan."},"image":{"url":"https://walletwyse.cdn.prismic.io/walletwyse/1a0c93008b0c6616dec1df72fdb11d9dcbec21fc_car.jpg","dimensions":{"width":276,"height":183},"localFile":{"childImageSharp":{"fluid":{"base64":"data:image/jpeg;base64,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","aspectRatio":3.32,"src":"/static/7630537b4e03e4b39eaf26eca856a3a6-e2a882149664eb595bf7b467f2ec6571-eb791.jpg","srcSet":"/static/7630537b4e03e4b39eaf26eca856a3a6-e2a882149664eb595bf7b467f2ec6571-05c0a.jpg 166w,\n/static/7630537b4e03e4b39eaf26eca856a3a6-e2a882149664eb595bf7b467f2ec6571-eb791.jpg 276w","srcWebp":"/static/7630537b4e03e4b39eaf26eca856a3a6-e2a882149664eb595bf7b467f2ec6571-27b63.webp","srcSetWebp":"/static/7630537b4e03e4b39eaf26eca856a3a6-e2a882149664eb595bf7b467f2ec6571-a3f32.webp 166w,\n/static/7630537b4e03e4b39eaf26eca856a3a6-e2a882149664eb595bf7b467f2ec6571-27b63.webp 276w","sizes":"(max-width: 276px) 100vw, 276px"}}}},"author":"cristian"}}},{"node":{"last_publication_date":"2018-04-08T18:43:13+0000","tags":["retirement","saving","investment"],"uid":"efficient-retirement-planning","data":{"title":{"text":"Efficient Retirement Planning"},"body":{"text":"Retirement planning can be as simple or as complex as desired. Setting up 401k withholding, or hiring a financial planner to optimize savings are easy ways to simplify your retirement strategy. Simple and effective are attainable for everyone. There are two other goals everyone should strive for in their retirement planning, inexpensive and efficient.   1. The Efficient 401k - 401ks are inherently efficient because they are tax advantaged savings vehicles. Depending on whether you invest in pre-tax (traditional) or Roth, the tax benefits will vary by person or family, but are great ways to save. If your employer offers 401k matching, you may have access to \"free-money\" to boost your retirement savings even further.  2. Fees - All investment vehicles come with associated fees. Financial advisors will generally cost you more than investing independently. When selecting funds, stocks, or platforms to utilize for your investments, understanding exactly how the providers earn money from your money is critical to efficient investing. Look for vehicles with low expense ratios, tax advantages, and other benefits. What is easiest or simplest, isn't always best. What offers the best returns may also come with the highest fees or tax consequences. 3. Advanced Tax Efficiency - Once your 401k is fully funded and allocated into investments with low expense ratios that reflect your risk tolerance, it's time to look at additional tax advantaged mechanisms. Backdoor Roth IRAs may be a good option to save an additional $5,500 per year for an individual, while also being tax advantaged on withdraw in retirement. Health Savings Accounts are potentially triple tax advantaged and are widely considered to be the most tax efficient savings vehicle available for the right investor.  4. Location, Location, Location - Location should be a critical piece of the retirement puzzle. Where you earn your income in your prime earring years, versus the tax reality of where you plan to retire can drive significant tax efficiencies. For example, if you earn in Washington State, where there is no income tax, consider contributing to a Roth IRA. Generally, you should consider retiring some place with no income tax and/or low property tax. Unless your retirement savings is in Roth accounts, consider retiring in states with no state income tax, this will allow your retirement dollars to go further. Consider retiring in a state with low property tax rates, or that cap annual property tax increases. States with property tax that increase directly with property value assessments on an annual basis often creates insurmountable tax burdens, which drive retirees from their homes.  "},"image":{"url":"https://walletwyse.cdn.prismic.io/walletwyse/c199db4197b9b807af37b4113521e31ea72ac7d7_money-2696229_960_720.jpg","dimensions":{"width":960,"height":553},"localFile":{"childImageSharp":{"fluid":{"base64":"data:image/jpeg;base64,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","aspectRatio":3.32,"src":"/static/aa71b902c6c1c2fde61e66465dc2f625-10f1e6472c4ae2910fe84eb2164cc1b6-e6ae9.jpg","srcSet":"/static/aa71b902c6c1c2fde61e66465dc2f625-10f1e6472c4ae2910fe84eb2164cc1b6-80f39.jpg 166w,\n/static/aa71b902c6c1c2fde61e66465dc2f625-10f1e6472c4ae2910fe84eb2164cc1b6-02e61.jpg 332w,\n/static/aa71b902c6c1c2fde61e66465dc2f625-10f1e6472c4ae2910fe84eb2164cc1b6-e6ae9.jpg 663w,\n/static/aa71b902c6c1c2fde61e66465dc2f625-10f1e6472c4ae2910fe84eb2164cc1b6-58f27.jpg 960w","srcWebp":"/static/aa71b902c6c1c2fde61e66465dc2f625-10f1e6472c4ae2910fe84eb2164cc1b6-a1ce3.webp","srcSetWebp":"/static/aa71b902c6c1c2fde61e66465dc2f625-10f1e6472c4ae2910fe84eb2164cc1b6-92185.webp 166w,\n/static/aa71b902c6c1c2fde61e66465dc2f625-10f1e6472c4ae2910fe84eb2164cc1b6-a2201.webp 332w,\n/static/aa71b902c6c1c2fde61e66465dc2f625-10f1e6472c4ae2910fe84eb2164cc1b6-a1ce3.webp 663w,\n/static/aa71b902c6c1c2fde61e66465dc2f625-10f1e6472c4ae2910fe84eb2164cc1b6-0005a.webp 960w","sizes":"(max-width: 663px) 100vw, 663px"}}}},"author":"Stephen N."}}},{"node":{"last_publication_date":"2018-04-08T18:43:13+0000","tags":["housing","investment","interest","maintenance","expenses","lifestyle","home"],"uid":"understanding-the-mortgage-payment","data":{"title":{"text":"Understanding the Mortgage Payment"},"body":{"text":"Congratulations! You have just entered a contract to buy your first house. It's an exciting time that instills feelings of security for you and your family, but also confusion and anxiety when considering the upcoming monthly payments. While your mortgage payments can be structured in a variety of ways, we want to help guide you through the typical 30-year fixed rate payment, and what elements are included.   For simplicity purposes we are using the term \"mortgage payment\" to represent your total monthly payment to escrow, including interest, principle, and other expenses that escrow regularly collects.   1. Interest - Interest is the portion of your mortgage payment that represent the fee owed to the bank for lending you funds. This portion of your mortgage represents the bulk of your payment in the beginning of a mortgage, then over time, becomes less as you pay down the mortgage. If you take out a $200,000 mortgage over 30 years with an interest rate of 4%, your first year of payments will total $11,457.96, which includes $7,935.92 in interest. The remaining $3,522.04 is applied to your principle, and represents the value you \"own\" in the home.  2. Principle - When you make your mortgage payment, principle is the portion of the payment that is paid to the lender to reduce the overall amount owed on your loan, while also representing the equity you now own in your home. Principle payments start out as a small percentage of the overall mortgage payment, about 30% in year one for our example above, and will become the majority of your mortgage payment in year 14. In the final year of payments, your loan principle will represent $11,214.11 of $11,458.59, over 97%.   3. Property Taxes - Property taxes are in addition to the amounts listed above and can vary widely by state. New Jersey has the highest effective rate at 2.38% ($396 per month), and Hawaii has the lowest effective rate at .28% ($47 per month). Additionally some, states like California restricts property taxes to 1 percent of property values and caps increases in those values at 2 percent a year. Other states have no cap on the increase in your home value for property tax purposes, therefore property tax liabilities can increase dramatically during a housing boom. It is important to understand how your state treats property taxes and how it will impact your mortgage payment. Additionally, property taxes can be paid separately from your total mortgage payment, but in many cases is included.  4. Insurance - Homeowner's insurance is required by lenders and is in addition to the costs described above. Like property taxes, homeowner's insurance can be paid directly to the insurance provider, or as part of your total mortgage payment. According to the Federal Reserve Bureau, the average monthly premium cost for homeowners insurance is between $25 and $83.   5. Private Mortgage Insurance (PMI) - PMI is applied to conventional and other loans where buyers do not include a 20% downpayment. This insurance protects the lender by compensating them for lending a larger percentage of the home's value to buyers. Like homeowner's insurance and property tax, it is added in addition to the principle and interest payments on loans which it is required.   6. Home Owners Association (HOA) - Homes that are designated as part of a HOA will often incur a monthly or annual HOA fee that is in addition to the costs listed above. In some cases these fees are part of the total mortgage payment, but not always. HOA dues can increase or decrease as the HOA Board and HOA rules allow. Additionally, some HOAs can require additional outlays for special projects or other activities in addition to the periodic payments.   In summary, your mortgage payment can be a fairly complex beast. Each of these elements has additional nuance that make understanding your payment challenging, both when the loan is originated and over the years after. In addition to these elements research and estimating utility payments, home maintenance, and other factors will help you make a Wyse decision.  "},"image":{"url":"https://walletwyse.cdn.prismic.io/walletwyse/1e84c2a39169ff9830ddf6143c24ea9ce65e9d23_home-loan01-lg.jpg","dimensions":{"width":1200,"height":800},"localFile":{"childImageSharp":{"fluid":{"base64":"data:image/jpeg;base64,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","aspectRatio":3.32,"src":"/static/8face7e594559fee875f2a0be50ffbc9-0c1e004a7a2a354b48d37f19eafa2d73-e6ae9.jpg","srcSet":"/static/8face7e594559fee875f2a0be50ffbc9-0c1e004a7a2a354b48d37f19eafa2d73-80f39.jpg 166w,\n/static/8face7e594559fee875f2a0be50ffbc9-0c1e004a7a2a354b48d37f19eafa2d73-02e61.jpg 332w,\n/static/8face7e594559fee875f2a0be50ffbc9-0c1e004a7a2a354b48d37f19eafa2d73-e6ae9.jpg 663w,\n/static/8face7e594559fee875f2a0be50ffbc9-0c1e004a7a2a354b48d37f19eafa2d73-86154.jpg 995w,\n/static/8face7e594559fee875f2a0be50ffbc9-0c1e004a7a2a354b48d37f19eafa2d73-36086.jpg 1200w","srcWebp":"/static/8face7e594559fee875f2a0be50ffbc9-0c1e004a7a2a354b48d37f19eafa2d73-a1ce3.webp","srcSetWebp":"/static/8face7e594559fee875f2a0be50ffbc9-0c1e004a7a2a354b48d37f19eafa2d73-92185.webp 166w,\n/static/8face7e594559fee875f2a0be50ffbc9-0c1e004a7a2a354b48d37f19eafa2d73-a2201.webp 332w,\n/static/8face7e594559fee875f2a0be50ffbc9-0c1e004a7a2a354b48d37f19eafa2d73-a1ce3.webp 663w,\n/static/8face7e594559fee875f2a0be50ffbc9-0c1e004a7a2a354b48d37f19eafa2d73-a0d7a.webp 995w,\n/static/8face7e594559fee875f2a0be50ffbc9-0c1e004a7a2a354b48d37f19eafa2d73-1612a.webp 1200w","sizes":"(max-width: 663px) 100vw, 663px"}}}},"author":"Stephen N."}}}]}},"pageContext":{"category":"Affordability"}}