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Stay Home Inspo: Creativity at Home with Colin King

It is often hard to stay inspired during this difficult time. Things can look bleak – whether you’re reading the news or braving the world outside of your home. San Francisco has lost its charm during the pandemic. Streets are deserted. Businesses are boarded up and graffitied. All the cultural vitality that draws one to a city like this is canceled. If if we wanted to go somewhere….there’s no nowhere to go.

And so we turn inward. Back towards home. If you’ve been looking to scratch a creative itch, this post is for you.

Stay Home Inspo: Colin King on Apt34

As this pandemic has continued, I’ve been sharing #StayHomeInspo on Instagram – a respite for the eyes and inspiration for design ideas and creative projects we can do in our own homes to boost our spirits. One of my primary resources of inspiration has been stylist and photographer Colin King. I discovered Colin’s work on Instagram and have been following his creative journey every since – as he styles editorials ranging from corporate clients like Zara Home, to homes that grace the cover of Architectural Digest. As part of his own #StayHomeInspo journey, Colin started his own hashtag – #StayHomeStillLife chronicling his Covid creative outlet – creating stunning still life vignettes in his Manhattan apartment during New York City’s lockdown. I looked forward to a new image from Colin every day and even though he’s back to work outside his home, I still do.

Colin was gracious enough to share some of his creative tips and tricks with Apt34 today. I hope you find his insights as inspiring as I do.

Q: How did you get started, especially doing still life work? Did you have a mentor? Study something? Or just start experimenting?

A: I’m really good at doing, and not so good at being. Out of all of the careers I’ve had, none of them afforded me the flexibility to work from home. So in an attempt to cope and self soothe, I quickly found comfort in creating still lifes at home. My apartment is small, and there are only so many combinations when it comes to rearranging furniture, so I was forced to think small. It started organically shopping at my favorite decor shop (and the only one that was open) – nature. Foraging quickly led me to taking unrelated, inanimate objects, fruit, and anything else I could find around the house; placing all of that on a clean surface and trying to find an arrangement that felt poetic. The act of creating these still lifes gave me a schedule and presented a challenging, healthy way for me to step away from my screen, disconnect from fear and worry, and just be.

Stay Home Inspo: Creativity at Home with Colin King on Apt34

Q: What would you say are the key components of a captivating still life?

A: For me there are three key components of a captivating still life.

Each still life I create, my goal is to conjure the feeling of being a tourist in someone else’s reality. I never want any of my photos to feel as though you’re on a set or that the elements were contrived specifically for the photo. For example, when I am at a museum or even in someone’s home for an editorial shoot, I am always noting the forgotten corners, the stanchions, the coat rack, the half-drawn closet curtain; these are the places where there was no thought or extra care given to the placement of things – it’s just where everything naturally fell. Every captivating image I’ve seen has this almost eerie element of a human having just been there moving about unapologetically, and what’s left is unstyled but perfectly settled. Ultimately, creating a moment that seems more unearthed than contrived.

When approaching my still life I let go of the practical, intended use of each object. To me, a vase isn’t a vase and a fork isn’t a fork – they’re just things with their own materiality and form. I love it when I see an image and don’t even realize what the objects are until examining closer. Whether it’s upside down, balancing on its side, or completely submerged in a glass of water, there is an irreverence with a nod to surrealism that I love.

Lastly, light. Finding the depth between and beyond the surface the objects are on and how they relate to each other is key. Not only do I want to feel the dimensionality of the image, I also want to use objects that absorb light, reflect light, and bend light arranging them in a poetic display to generate an unexpected conversation.

Stay Home Inspo: Creativity at Home with Colin King on Apt34

Q: Are there any tricks of the trade you regularly rely on (tools, adhesives etc)?

A: No tricks. Just patience and a good playlist. I’ve never used a tool or an adhesive, I recognize I have so much to learn but right now I am having fun shattering glasses, chipping ceramics, cursing under my breath, and the freedom that comes with not being bound by any way of doing it. And music has always been a part of my process. As a trained dancer, music brings me a sense of comfort, routine and ritual while keeping me in the present moment.

Stay Home Inspo: Creativity at Home with Colin King on Apt34Stay Home Inspo: Creativity at Home with Colin King on Apt34

Q: Your photography is also amazing. The way you use light is incredible. Are you self taught? Do you only use your phone and if so what do you use to edit your photos?

A: Aw, thank you. I am completely self-taught and I only use my iPhone. I just looked and I have 143,885 images on my phone. For each still life I create, or any image really, I take anywhere from 20-40 images per set up. It’s practice. it’s repetition, it’s trial and error. It’s like going to the gym and working out. Taking photos is a muscle I’ve been working on since I first got a camera phone in college. I use VSCO and Snapseed to manipulate shadows, contrast, and perspective. We’re all learning from each other. I look to photographers and other creatives I admire and dissect their images, find what I like about them, and then tinker with my own.

I had to let go of the concept that there was the perfect preset or formula for any of my work. No one was going to share a map or rulebook with me, and through a lot of trial and error, I learned that I can’t think my way into being a good photographer or stylist – it’s in the action. I have to use my hands to pick up something tactile – a book to sift through or a couple of objects to arrange. From there I just play, sometimes it’s there and sometimes, I walk away. I get myself into trouble when I wait for inspiration to hit, I have to get up and find it.

Stay Home Inspo: Creativity at Home with Colin King on Apt34Stay Home Inspo: Creativity at Home with Colin King on Apt34

Q:You have a very distinct look. I can recognize your work a mile away. How did you go about cultivating that?

A: Intuition has always been my leader in life. I didn’t know I was cultivating a look – I just kept taking photos of what I liked and using the limited resources I had. Although the aesthetic strands running through my work are pretty consistent, the influences feeding into the design process are typically eclectic and even the most unlikely of subjects can provide food for thought. Simplicity and finding beauty in the mundane interested me. At first, my minimal sensibility came from not having a large portfolio or a lot of pieces to work with. And ultimately, I’ve always admired the edited life – less color, less clutter, and fewer things sustained by purposeful restraint.

Stay Home Inspo: Creativity at Home with Colin King on Apt34Stay Home Inspo: Creativity at Home with Colin King on Apt34

Q: Where do you turn for creative inspiration?

A: I draw my inspiration from other people. I’ve learned to surround myself with people who have something that I want; and challenge me to be more honest, take more risks, and ultimately how to not fear failure. I am energized and encouraged by other people’s victories; the immense joy I get from watching peers succeed gives me hope that I too, can achieve anything I put my mind to.

I am also very inspired by nature – I am in constant awe of what it produces. Nature has a way of humbling me and is a great reminder to abandon the idea of perfect – nothing about nature is linear or symmetrical and nothing is immune to decay.

Stay Home Inspo: Creativity at Home with Colin King on Apt34

Q: What about your work brings you joy?

A: I get to tell stories for a living and that’s all I’ve ever wanted to do. I get to connect with people and help create a context for the intimate rituals of peoples’ lives. And I also get to surrender to the subjectivity of what I do and knowing that the narrative I’ve created will be interpreted differently by each viewer – it challenges me to be vulnerable in a way – it’s all part of being a creative – and I feel grateful to be able to make a living by being creative.

Also, objects that have been given to me or are inherited from a shoot or trip, bring me joy. The handmade pieces in my place, knowing the story and process of the artist brings me joy as well. Ultimately, the smallest object can embody an entire relationship or single experience; they’re tied integrally to memories and can shape the identity of the room.

Q: Your career has been taking off of late. Where do you hope to be in five years?

A: This time has presented irrefutable evidence that I don’t have the power to know where I will be in 5 years. Doing the best at this moment puts me in the best place for the next moment. The saying Time takes time has always been a hard pill for me to swallow, I spent so much of my life wanting to be the fastest, youngest, and the best at everything I did but these unrealistic expectations only brought me pain. Pain is inevitable, suffering is optional. Surrendering to the idea that I am exactly where I am supposed to be, going through exactly what I need to be going through, AND being content with that is where I hope to be in 5 years. I am learning that the most important relationship I have is with myself. When that relationship is strong I am a better son, brother, friend, employee and partner.

Colin you are wise beyond your years and talented beyond belief. Thanks to you I’m going to continue to try to improve my foraging skills! f you find Colin as truly inspirational as I do, I hope you’ll give him a follow on Instagram.

What are you doing to stay inspired during this weird time??

For more Stay Home Inspiration, CLICK HERE.

images courtesy of Colin King

The post Stay Home Inspo: Creativity at Home with Colin King appeared first on Apartment34.

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Source: apartment34.com

Picking the Best Air Conditioner for Your Apartment

Looking to cool down your apartment? With spring and summer approaching soon, it’s important to start thinking about how to prepare for those hotter months and stay cool. While many apartments come with built-in air conditioning (AC) units, many do not. So what are your options for cooling down your space? In this article, we’ll go into detail about how to decide what is the best air conditioner for your apartment.

How do air conditioners work to keep your apartment cool?

Air conditioners have been around for a very long time, in fact, the first air conditioning system was developed in 1902.The basics of how air conditioners work are similar to how a fridge works. Air conditioners use an internal refrigerating system to take in hot air and cool it. The hot air, absorbed by the AC unit through various coils and systems, turns into a gas. From there, the unit converts it back into a liquid.

Next, the hot air pushes out the back through vents or a window and the cool air pushes into your apartment. The website HowStuffWorks.com puts it very simply: “Think of it as an endless, elegant cycle: liquid refrigerant, phase conversion to a gas/heat absorption, compression and phase transition back to a liquid again.”

air conditioning

Important things to understand when selecting your AC unit

There are a couple of other things to consider when picking which type of AC unit to use for your apartment. You’ll want to consider things such as cooling capacity, BTUs, energy efficiency and costs.

BTUs

BTU or British thermal units is the amount of energy it takes to heat or cool one pound of water. For air conditioners specifically, the BTU refers to the amount of heat your unit can remove in an hour. Some units take more than others. For instance, a window unit takes anywhere from 3,000 to 25,000 BTUs, whereas a portable system can use anywhere from 8,000 to 12,000 BTUs. Make sure to take the time to research this before deciding on which unit is best for you. Learn Metrics has created a more in-depth chart for understanding different BTUs for different sized apartments.

Cooling capacity

When picking out your AC unit keep in mind its cooling capacity. The size of the area you want to cool will greatly impact your choice. Different units cool different area sizes. Take portable units for example — these are usually only able to cool the area they sit in. Window units on the other hand are a better option if you are looking to cool down an entire apartment.

Energy costs

The cost that it takes to run an AC unit is something else to consider. The price can greatly change depending on how big your unit is and how big of an area you’re trying to cool. On average it can cost anywhere from $14.40 per month to $211.20 to run different types of AC units.

Best air conditioner options for your apartment

Now you know how air conditioners work, how do you know which type is right for your apartment? Here are a couple of different options that you can choose from.

1. Portable air conditioner

Portable units are one option when looking for an AC unit. They come in various sizes and work in many different rooms. Often referred to as “portable swamp coolers” or “evaporated cooling” these two systems work similarly to other AC units but primarily rely on water. Another difference is their setup. For instance, some require their own voltage plug and most require you the ability to vent the hot air out of a window.

Another great question to ask when thinking about portable units is, “Can you use a portable air conditioner in an apartment?” The answer depends on your apartment complex and its rules. In certain apartments they are not allowed, so make sure to check with your apartment before you invest in one. Here are some pros and cons of portable AC units.

Pros:

  • Move room-to-room
  • Cost-efficient
  • Come in various sizes
  • Great if you have a strict HOA or landlord and can’t install a window unit

Cons:

  • Sometimes are less energy efficient
  • Can be noisy

AC unit in a window against a brick wall

2. Window units

Window units are very popular throughout Europe and make another great option for your apartment AC unit. Set in a window, they function much like other AC units and are capable of cooling medium-sized spaces. Here are some of their pros and cons.

Pros:

  • Easy to install
  • Inexpensive
  • Come in various sizes to fit your windows
  • Can come with a heating system

Cons:

  • Not portable and stay in the window you place them in
  • Not energy efficient

3. Wall-mounted

Wall-mounted units are a great option for people who are living in older buildings that tend to get very hot during summer. Here are the pros and cons of these AC units.

Pros:

  • Easy to install
  • Don’t take up a window or block the view
  • Energy efficient

Cons:

  • Don’t cool the whole space
  • Must be cleaned and maintained regularly

Happy woman holding a remote under an air conditioning unit

4. Personal AC unit

Personal AC units are great for cooling down a single person in a smaller space. They are typically very small — meant for bed stands or desks and are not meant to cool the entire space down. These typically only need a plug and water, however, they do not cool as well as bigger units. Here are their pros and cons.

Pros:

  • Great for personal use
  • Move from room-to-room
  • Easy to use and install

Cons:

  • Not energy efficient
  • Need cleaning after each use to avoid germ growth

Man with his face in front of a fan

How to keep your apartment cool without an AC unit

If none of these options work for you, there are other ways to keep yourself cool this summer. Here is a list of other options to consider:

  • Installing fans
  • Purchasing dark blinds to block the sun
  • Putting cooling sheets on your bed
  • Switching out your light bulbs to ones that produce less heat
  • Opening your windows at night
  • Cooking outside

Stay cool as a cucumber

While the summer heat is great for outdoor activities and vacations, it’s not so great for your apartment. Keeping your place cool throughout these hot months is essential. There is nothing worse than being uncomfortable in your own living space. The good news is there are many different options to consider when thinking about the best air conditioner for your apartment.

The post Picking the Best Air Conditioner for Your Apartment appeared first on Apartment Living Tips – Apartment Tips from ApartmentGuide.com.

What to Do in a Power Outage at Your Apartment

Power outages do more than just put out all your lights. Losing power can lead to ruined food, loss of internet and the inability to live comfortably in your apartment.

On average, according to the U.S. Energy Information Administration, a typical power outage lasts around two hours. While this isn’t long enough to wreak major havoc in your home, it’s enough to highly inconvenience you.

What to do in a power outage

The most important thing to do in a power outage is not panic. These things happen, and as long as you’re able to think clearly and make good decisions, you’ll get through the darkness.

1. Check your circuit breaker box

Circuit breaker box during a power outage.

The first thing to establish when you lose power is whether it’s a single unit issue or something more widespread. Making sure a circuit breaker isn’t tripped in your own apartment is the best place to start.

You’ll usually find your breaker box in a bedroom closet or on the wall in a hallway. Look for a gray or black door, assuming it wasn’t painted over to match the wall. Make sure you have a flashlight with you to see everything clearly.

When you open the box, you’ll notice if a breaker has tripped because it won’t firmly be in the “on” position. You can check each breaker to see if it wiggles too. If a breaker is in the “off” position or looks like it’s sitting in the middle, you’ve got a tripped breaker. Just flip the breaker back on and you’re back in business. If the breaker is in the middle, switch it all the way off before turning it back on.

2. Report the problem

Man in the dark during a power outage.

If you check your breaker box, and everything looks in order, it’s time to take the DIY out of the process. Contact your property manager to report the problem and get more information. They’ll most likely be able to tell you whether or not it’s affecting the entire building and what steps are in place to remedy the situation.

You can also simply look around to other buildings in your area to see if they look like they don’t have power either. If all the windows in neighboring buildings look dark, you know this is a much larger problem and something the electric company is most likely already working on repairing.

It still doesn’t hurt to report your outage to your electric company though.

3. Avoid damage from power surges

Electrical cord.

When the power does come back on, there’s a risk a power surge will take place. This can scorch walls or even lead to small electrical fires.

To prevent this from happening, go through your home and unplug appliances and electronics. Even though you’re eager to get back to using everything as soon as you get electricity back, it’s best to play it safe until after the power returns.

4. Monitor alerts

person on phone

Even with the power out, as long as your phone is already charged, you should have the ability to monitor alerts regarding your electricity. Check in with your power company for regular updates and report your issues if they haven’t documented anything wrong in your area.

If your power outage is weather-related, keep an eye on local news updates and weather reports to stay on top of any evacuation announcements or other important information.

5. Keep a clean supply of water

Supply of water filling up in a bathroom during a power outage.

With prolonged or widespread power outages, there’s a chance drinking water could get contaminated. This happens when the loss of electricity extends to the water sanitation system in your area.

Even if this happens, the water you can immediately pull out of your faucets is still okay to drink. To provide yourself with a solid amount of clean water when the lights go out, fill up tubs and sinks right after you lose power.

What not to do during a power outage

The most important thing not to do during a power outage is panic. You need to think with a clear head to act safely. However, a few other no-no’s are worth noting when it comes to staying in your apartment while the power is out.

  • Do not open your refrigerator or freezer if you can help it. This will keep the food inside cooler for longer and prevent spoilage.
  • Do not try to use a gas stove to heat your home. You should also avoid bringing in an outdoor grill for indoor heat. Doing so can lead to carbon monoxide poisoning. If you have a fireplace, go ahead and light that, but otherwise, bundle up with blankets or get to a warmer location.
  • Do not leave lit candles unattended for light. It’s OK to use them while you’re in the room with them, but make sure you blow them out before you leave. Flashlights are always a safer bet when moving from room to room and make a great first choice in light sources when you lose power.
  • Do not assume you can get out of your apartment complex. If you live in a gated community, chances are the gate runs on electricity. If you’re opting to leave your apartment while the power is out, make sure you either know how to manually open your community gate or that your management office has taken care of the issue.
  • Do not go near pooling water or power lines. If you’re outside at all during a widespread power outage, stay clear of fallen power lines and large puddles of water. You have no way of knowing when the electricity will come back on and charge up a wire or a pool of water where a line is hiding.
  • Do not waste hot water. Losing power doesn’t mean you can’t flush toilets or even take a shower, but the amount of hot water you have when the power goes out is not much. To avoid cold showers, on top of everything else, use the hot water you have sparingly.

Prepare in advance

Since the odds are good you’ll experience a power outage at least once, why not prepare in advance? You can make a lights-out kit to ensure everything you’ll need in an emergency is in one place.

Put together a few flashlights, extra batteries and an emergency radio if you have one. Consider adding a remote charger for your cell phone and even a few bottles of water.

Store your lights-out kit somewhere that’s easy to get to even in the dark.

Stay safe when the lights go out

We all pay an electric bill and come to rely on the utility’s availability whenever we need it. This is what makes it so stressful when the lights do go out. Knowing what to do in a power outage, and preparing in advance, are the best steps you can take to handle the issue until the light returns.

The post What to Do in a Power Outage at Your Apartment appeared first on Apartment Living Tips – Apartment Tips from ApartmentGuide.com.

Source: apartmentguide.com

‘Dream Home Makeover’ Will Inspire You To Drop Everything and Decorate

Dream Home MakeoverHGTV

Utah couple Shea and Syd McGee are back with Season 2 of Netflix’s “Dream Home Makeover”—and their new projects will make you want to drop everything on your plate and decorate.

In this new season, they show off renovations in every room of the house, from the kitchen to the bathroom to the bedroom, doling out style inspiration for the whole house. And while Shea’s signature style is still as clean and calming as ever, she focuses on creative designs like imperfect tile, wallpaper accents, and, yes, even carpet!

Read on to get the best tips from “Dream Home Makeover.” You’ll find some unexpected design choices that will inspire many weekends of fun projects to keep you happy at home through 2021.

Use imperfect tile to bring character to a new kitchen

kitchen backsplash
These imperfect tiles give the kitchen some character.

HGTV

In the episode “Luxury Estate,” Shea and Syd meet up with LaRee and Travis Hansen, who are just about ready to move in to their new home. This new build has been a work in progress for over two years, and now Shea is able to add the final touches, like a stylish kitchen backsplash.

Since this kitchen is so new, Shea chooses a handmade tile. But after it’s installed, the special texture makes the tile look at first like it’s not sitting perfectly flat.

“In new homes you kind of have to pick a few things that are maybe older or have some imperfections so that the home has a little bit of soul even when you move in to it,” Shea says.

At first, LaRee is unsure about this imperfect backsplash, but once it’s installed, it’s clear this tile is the right choice. It gives this clean kitchen a little personality. With this unique backsplash, the kitchen feels less like a hotel and more like a home.

For a midcentury look, use the right lighting

lighting
This guesthouse already had lighting fixtures, but Shea McGee wanted to update the look.

HGTV

In the episode “Midcentury Makeover,” Shea and Syd meet Omar Poole and Josh Newbury for a midcentury makeover of their guesthouse. Poole knows that his mother will need to move in to this guesthouse eventually, so they want to fix it up for her with a fun midcentury modern design, which will match the main house.

However, this guesthouse was built in 1956, so Shea is forced to make some era-appropriate lighting choices.

kitchen
Shea installed new lights and a fun, midcentury pendant light.

HGTV

“Homes of this era don’t typically have attics,” Shea explains. “We can’t crawl into the attic space to install can lights. We have to do all fixtures.”

She removes the original fixtures and replaces them with new, white alternatives that have the midcentury look. Plus, she installs a midcentury-inspired pendant light over the kitchen island, which adds even more retro style to the space. These new lights really set the mood.

Make sure different flooring types complement each other

bathroom
The tile in the bathroom and the carpeting in the closet work together to create an elegant look.

HGTV

The episode “Bath Hideaway” is all about Shea’s clients Mandi and Bryce Winkelman, and their fabulous primary bathroom. Mandi explains that she wants a peaceful, spa bathroom where she can take a break from the kids, so Shea focuses on finding a spa-inspired flooring choice.

She decides that gray herringbone with light grout is the perfect look for this bathroom because it’s elegant and gives the space some color. However, Shea runs into a challenge when it’s time to install carpet in the adjoining closet. She can’t match the carpet color to the tile or else it would look too matchy-matchy. So instead, she brings in an entirely new pattern with familiar colors.

“We did this kind of warm, gray grout with the dark stone herringbone floor, and then we flip-flopped the color palette in the closet, where we get the plaid that’s a warm gray with the dark accents,” Shea explains.

In the end, the closet carpet ends up looking great. The light plaid brightens up the space without seeming too stark next to the gray bathroom floors.

Use wallpaper as a classic accent

kitchen
This old kitchen needed a period-appropriate update.

HGTV

In the episode “Restoring History,” Madison and Nick Panos show Shea around their historic home, which was built in 1908. Madison knows that it’s time to update the old kitchen, but she still wants to keep the home’s classic look.

So, to keep some 1908 style, Shea brings in wallpaper.

kitchen
A little wallpaper can go a long way in a classic kitchen.

HGTV

“Our days of wallpapering every single room has passed, but when we have a dedicated area like this desk, where you have easy places to stop the wallpaper, it’s a perfect place to use it as an accent,” Shea explains.

She uses some subtle blue and white paper to dress up the built-in desk area. It gives the space a classic style without seeming dated.

Give stone an updated look by brightening the color

living room
This wood-burning stove brought some cabin charm to the house, but it needed an update.

HGTV

In the episode “Mountain Retreat Makeover,” Shea meets with Shazia and Taylor Chiu, who live in a cozy cabin.

These two want to give their cabin an updated look, but they also hope to keep the old-fashioned stove in the living room, which they still use to heat the house in winter.

To update this feature, Shea uses mortar to turn the stone behind the stove white.

living room
The white finish makes the whole room look brighter.

HGTV

“The cement mortar looks amazing on the stone,” Shea says.

Indeed, this small change to the stove area brightens the space and transforms the entire room.

Give your windows some cozy style

bedroom
The right window dressings can make all the difference in a bedroom.

HGTV

In the episode “Bedroom Oasis,” Shea works with client Jessica Stone to surprise her husband, Tyler, with a bedroom rehab. Jessica wants the room to feel like Hawaii, so Shea uses lots of soft colors and materials to get that island feel. She even uses those soft materials on the windows.

“When it comes to picking window treatments, you could pick shades, or you could pick drapes, but I often like to do both together because the more textures and textiles you have, the cozier a room feels. And blending the two together makes a home feel homier,” Shea explains.

So she installs long, light gray drapes, plus a woven shade. Together, these materials and textures give the room a relaxing vibe that’s reminiscent of the coast.

The post ‘Dream Home Makeover’ Will Inspire You To Drop Everything and Decorate appeared first on Real Estate News & Insights | realtor.com®.

Source: realtor.com

What Is Austerity?

What Is Austerity?

Austerity policies are nothing new. But talk about them in the news has recently escalated. In response to its ongoing debt crisis, the Greek government is preparing to implement austerity measures aimed at helping the country regain its financial footing. If you didn’t major in economics or you have no clue what austerity means, read on to find out how this fiscal program works.

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Austerity: A Definition

Trust us, austerity isn’t as complicated as it sounds. Austerity is a type of economic policy that governments use to deal with budget deficits. A country faces a deficit whenever it’s using more money than it’s earning from tax dollars.

By taking on an austerity package, a government hopes to reign in its spending, improve the status of its economy and avoid defaulting on its unpaid debt. Governments usually take on austerity measures in order to appease their creditors. In exchange, these lenders agree to bail out countries and allow them to borrow more money.

If you look up the word austere in the dictionary, you’ll see that it means severe, grave, hard, solemn and serious. Indeed, austerity is nothing to joke about.

Austerity Measures

What Is Austerity?

Austerity plans normally involve increases in different taxes, (property taxes, income taxes, etc.) budget cuts or a push to incorporate both. Government workers could lose their jobs or see their wages and benefits either decline or become stagnant. Hiking up interest rates, adding travel bans and keeping prices at a fixed level could be other strategies put in place to reduce spending.

Naturally, austerity measures typically aren’t viewed in the best light because they mean that there might be fewer government programs available to the public. Aid for veterans and low-income families, healthcare coverage and pensions are some of the benefits that normally take a hit when a country’s using an austerity package. Government services that aren’t eliminated might not be as comprehensive or as beneficial as they once were.

As you can see, in an austere environment, conditions are tighter overall. Historically, austerity has been implemented in the US during tough times including World War I, World War II and the Great Recession of 2008.

Greece’s new austerity package – which government lawmakers finally accepted in July 2015 – will feature less government funding, higher taxes and cuts to pension plans. As a result of this deal, the country was allowed to begin talks with its creditors about a third bailout.

Related Article: All About the Greek Debt Crisis

The Problems With Government Austerity 

Experts on the economy tend to go back and forth about how effective austerity can be. Some believe that instead of turning to austerity, the government should pump out more money and borrow as much as possible if an economy is on the rocks.

From a political standpoint, austerity is often controversial and results in riots and demonstrations. Anti-austerity protests erupted in Greece, where quite a few folks say that past austerity programs have only made social and economic conditions worse.

Beyond slowing down the economy, an austerity bill can cause a country to remain in its debt crisis, particularly if it’s in the midst of a recession. As fiscal austerity decreases spending, GDP can go down while unemployment goes up. Consumers can get nervous and stop spending and investing their own money.

In short, austerity policies can make life even more difficult for people who are already struggling. That’s why governments tend to turn to them as a last resort if other strategies aren’t working.

Why Austerity Might Not Be So Bad

What Is Austerity?

Notable European creditors have argued that austerity can be beneficial to a country’s long-term economic state. For instance, the International Monetary Fund (IMF) has previously reported that austerity has done more damage than anticipated. But the European Central Bank released a paper saying that austerity has been helpful, at least for some of the weaker eurozone countries.

In fact, austerity has helped strengthen the economies in European countries like Latvia and Iceland. Although Spain’s unemployment remains high, its economy is in better shape overall. Ireland has made considerable progress as well toward rebuilding its economy.

Proponents of austerity policies say that they can make investors feel more optimistic when a country is being run more responsibly. Austerity has the potential to bring a shrinking economy back to life as everyday citizens invest in the private sector instead of relying on support from the federal government.

Try out our free investment calculator. 

The US used austerity measures between 2010 and 2014. Not only were our policies harsher than those employed by the governments in the UK and other European nations, but our economy fared better than theirs.

The Takeaway

The point of austerity is to tighten the government’s belt, bring a country’s debt back down to a more manageable level and stimulate an economy that has stopped growing. Countries generally try to meet these goals by cutting spending and raising taxes.

The debate over whether austerity works continues but one common theme has emerged. Timing matters. Some critics suggest that cutting too much too quickly during a recession can be painful. When introduced more slowly, however, (or when the economy is doing very well,) austerity measures can turn things around.

Photo credit: Â©iStock.com/Eltoddo, ©iStock.com/DNY59, ©iStock.com/Peter Booth

The post What Is Austerity? appeared first on SmartAsset Blog.

Source: smartasset.com

Visa v. Mastercard: How These Financial Tools Are Similar & What Makes Them Different

visa and mastercard difference

You apply for a credit card and the bank sends you one when you’re approved. Whether it’s a Visa, a MasterCard or another type of payment card doesn’t factor into the process. Or does it?

Find out whether you should choose Visa or MasterCard when applying for credit cards and what other information you should know about these companies before selecting a credit card.

The Difference Between Visa and MasterCard

The only real difference that stands between Visa and MasterCard is that your card works on the payment network that the company operates. A Visa card won’t work on MasterCard’s network, and vice versa.

Ultimately, any other differences in cards come from the specific card you have. Not all MasterCard cards are the same, and not all Visa cards are the same.

How Are Visa and MasterCard cards similar?

Visa and MasterCard are both card networks. That means they manage the payment networks on which their cards work, but they don’t actually approve or issue cards to consumers. When you receive a Visa or MasterCard credit card, you get it from a bank such as Chase, WellsFargo or other organizations.

This is in contrast to how cards such as Discover and American Express work. These companies operate payment networks, but they also sometimes issue cards directly.

One benefit of the way Visa and MasterCard work is that they are able to foster much wider acceptance than other credit card companies. Visa’s network is 28 million merchants strong. MasterCard’s network features 30 million merchants. It’s rare that one of the types of cards is not accepted when another is. You’re much more likely to find a merchant that accepts Visa and MasterCard while not accepting Discover or American Express.

Other Similarities Between Visa and MasterCard

Because the specifics of your card depend on what kind of Visa or MasterCard you have, both types of cards offer a variety of options. Here are some of the considerations and options you’ll find whether you choose MasterCard or Visa.

1. Credit scores are required for cards.

The credit card companies don’t decide whether you’re approved for a card or not. It’s the bank sponsoring the card that makes the final call because they’re the one taking the financial risk to extend you credit. Some cards require good to excellent credit scores for approval, while others are approved for individuals with lower credit ratings.

Some banks may even offer credit repair cards for individuals with even lower credit ratings. These tend to have very low credit limits and may come with higher interest rates. Often, cards with the best benefits are approved only for those with good credit ratings.

Find out more about credit scores and what is typically considered a strong score before you apply for any type of credit card.

2. Rewards cards are an option.

Both MasterCard and Visa work with banks that provide rewards credit cards. These can include:

  • Travel rewards, such as points toward discounts on hotel stays, airfare, dining or even Uber rides
  • Store-specific rewards, such as points at retailers like Best Buy or Home Depot
  • Food and beverage rewards, such as free beverages at Starbucks or discounts at favorite restaurant chains
  • Cash back earned on each dollar you spend

The type of rewards you earn with your card depend on the card program, which is offered by the banks, and you can find Visa and MasterCard options for all of the above.

You can find some of the best options for rewards and other credit cards via the Credit.com search tools. That’s true whether you’re looking for MasterCard cards or Visa cards.

3. Fees can range for each card.

Fees are typically set by the banks and not by Visa or MasterCard. What you pay in over-limit, balance transfer, late fees or foreign transaction fees depends on the bank, the credit card offer and the agreement you sign. Don’t rely on the name on the card, and instead, make sure you fully review the offer before you agree to it so you know what fees you’re on the hook for.

4. Apple and Google Pay are options.

Most MasterCard and Visa credit cards work with smart wallet options such as Apple Pay or Google Pay. This is good news for credit card holders who are worried about the security risks that come with swiping a card. Instead, you can link your card to the app on your smartphone and pay via your phone at any payment station that accepts these methods.

5. Credit card holder discount programs.

If you use a business credit card, you may be entitled to save money on various purchases. Visa offers its Visa SavingsEdge program which features discounts of up to 15% or more on qualifying merchants that are automatically refunded to cardholders’ statements. Participating merchants include gas stations, hotels and car rental agencies.

MasterCard offers its similar Easy Savings program with discounts for qualifying purchases from gas stations, hotels and car repair chains. In both cases, cardholders must enroll their cards to realize these savings.

Can You Choose Your Own Payment Network?

In cases where banks work with both MasterCard and Visa, you may be able to contact your credit card company to ask for a specific network. This is true even if you were already issued a card on one of the networks already.

Because the bank determines APR, terms and rewards programs, there is often no reason to get into this level of detail when requesting a card. However, Visa and MasterCard both do back some benefits associated with their cards, including rental car insurance, buyer protections, extended warranties and travel insurance. If one of these benefits is extremely important to you, it may be worth it to change to the card network that offers the best option.

Regardless of whether you choose a Visa or a MasterCard card, apply for a credit card right here on Credit.com. Need to know your credit score before applying? Find out by signing up for a free Credit.com account.

The post Visa v. Mastercard: How These Financial Tools Are Similar & What Makes Them Different appeared first on Credit.com.

Source: credit.com

Amex launching limited-time offers on co-branded travel cards

The COVID-19 pandemic has put millions of travel plans on hold for many months. As a result, travel credit card issuers have had to adjust their products to make sure they still offer plenty of value to cardholders, even while the opportunities to earn or spend travel rewards are limited.

To make its co-branded travel credit cards valuable to customers even during the pandemic, American Express is launching new limited-time offers for eligible Delta SkyMiles, Hilton Honors and Marriott Bonvoy cardmembers. With these offers, cardholders can earn up to $220 in statement credits for non-travel spending, including dining for customers with consumer credit cards and wireless telephone services for business credit cardholders.

“We want to support how our customers are living their lives and running their businesses today, which is why we focused our statement credits on restaurants and wireless,” said Eva Reda, executive vice president and general manager of Global Consumer Lending & Cobrand at American Express. “We are also giving our Delta Card Members more ways to build up their bank of miles and earn higher status now for when they feel they are ready to travel again.”

Earn up to $220 in statement credits for dining

If you had a consumer Delta SkyMiles, Hilton Honors and Marriott Bonvoy credit card as of Jan. 1, 2021, you can enroll via Amex Offers to earn statement credits for dining out or take out. (Note, Amex Offers are targeted, so you might not see every promotion listed below.)

Here are the offers available to eligible Delta SkyMiles cardmembers:

  • Up to $110 in dining statement credits: Delta SkyMiles® Gold American Express Card members can receive $10 back per month (up to 11 times).
  • Up to $165 in dining statement credits: Delta SkyMiles® Platinum American Express cardholders can receive $15 back per month (up to 11 times).
  • Up to $220 in dining statement credits: Delta SkyMiles® Reserve American Express Card members can receive $20 back per month (up to 11 times).

Those with Hilton Honors American Express cards can also get up to $220 in statement credits:

  • Up to $55 in dining statement credits: Hilton Honors American Express Card members can receive $5 back per month (up to 11 times).
  • Up to $110 in dining statement credits: Hilton Honors American Express Surpass® cardholders can receive $10 back per month (up to 11 times).
  • Up to $220 in dining statement credits: Hilton Honors American Express Aspire Card members can receive $20 back per month (up to 11 times).

Eligible Marriott Bonvoy cardmembers can take advantage of the following Amex Offers:

  • Up to $110 in dining statement credits: Marriott Bonvoy American Express Card members can receive $10 back per month (up to 11 times).
  • Up to $220 in dining statement credits: Marriott Bonvoy Brilliant™ American Express cardholders can receive $20 back per month (up to 11 times).

Earn up to $220 in statement credits on wireless telephone services

If you carry an eligible co-branded business card from Amex, you can also enroll to earn up to $220 in statement credits through Dec. 31, 2021.

These offers are available for Delta SkyMiles cardholders:

  • Up to $110 in statement credits for U.S. wireless telephone services: Delta SkyMiles® Gold Business American Express Card members can earn up to $10 back per month (up to 11 times).
  • Up to $165 in statement credits for U.S. wireless telephone services: Delta SkyMiles® Platinum Business American Express cardholders can earn up to $15 back per month (up to 11 times).
  • Up to $220 in statement credits for U.S. wireless telephone services: Delta SkyMiles® Reserve Business American Express Card members can earn up to $20 back per month (up to 11 times).

With the “Score More on Wireless” offer, Hilton Honors American Express Business cardholders can receive up to $110 in statement credits for U.S. wireless telephone services – up to $10 back per month (up to 11 times).

Marriott Bonvoy Business™ American Express® Card members can earn up to $165 per month in statement credits for U.S. wireless telephone services – up to $15 back per month (up to 11 times).

More offers to earn extra points or miles

Besides earning statement credits, eligible cardholders now have more opportunities to get rewards on purchases. For example, Delta SkyMiles cardmembers can earn up to 3 additional miles per dollar on eligible Delta purchases through Dec. 31, 2021 – that’s up to 5 miles per dollar in total.

For more offers, check our guide to limited-time credit card offers and promotions during COVID or log in to your Amex account to see Amex Offers available to you.

Source: creditcards.com