Great Gifts for Your Graduate

Graduation is an exciting milestone in a young person’s life, and certainly a bittersweet time for their families. It’s also a big gift-giving occasion, in the same category with a birthday, anniversary, wedding, or new baby.

If you’re looking for some gift ideas for a special graduate in your life, below are a few ideas:

          Cash. Money—cash, check, or gift card—is by far one of the most popular (and welcome) gifts for budget-conscious graduates. What’s an acceptable amount? Although there’s no set rule for how much to give, etiquette experts say it depends on what you can afford and your relationship to the graduate. Generally, middle school graduates typically get $50 or under; high school, $100 or under, and college, $100 to $500 (again, it depends on how close you are to the grad).

          Jewelry. Graduation is an important first step toward adulthood, and gifting one good piece of jewelry to a child or grandchild is a nice way to recognize that life event. Earrings or a pendant are common gifts for girls; for boys, think a tie tack, tie bar, cuff links, or watch. An engraved inscription makes the gift even more meaningful.  

      Computer. Whether your graduate is going to work or pursuing additional schooling, chances are they’ll need a computer. Of course, there are countless options for technology on the market today, from laptops to tablets to iPads to the timeless desktop—so do some research on the make, model, type of software, and other useful features you might want before making your purchase.

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          Car.  Years ago, high school graduates often inherited their parents’ car so they would have transportation to summer jobs and college in the fall, and parents bought a new car. While that still happens today, usually it’s the graduate getting the new car.  Just like electronics, do some research on cars before breaking out your checkbook—it’s a big purchase, so you want to make sure you’re getting a safe, reliable vehicle that gets good gas mileage.

      As always, invest in the right kind of insurance for your graduation gift.  If you need valuables protection for items like jewelry or electronics, car insurance, or other specialty coverage for items not listed above, contact your insurance agent. Here at ETA Benefits Group, we are happy to work with you to choose the right type of insurance for your needs.

      Do you have any other good gift ideas for graduates? We’d love to hear them in the comments below!

Pros and Cons of Having a Roommate

Whether your living space is too big for one person or you’re looking to share expenses, getting a roommate is sometimes a good idea.  Ideally it would be best to live with someone you already know (or someone with whom you have a mutual acquaintance), but if you’re moving to a new city, you may not have that option. Below are a few pros and cons of having a roommate and tips for finding one.

Pros

Sharing expenses. One of the biggest reasons a person finds a roommate is to share expenses—rent, utilities, and even food. Most of us think it’s just city dwellers who find roommates, but even those who live in more rural areas must share space sometimes to save money.

Shared living space. People who live alone often do so by choice, but if you’re naturally a people person, living alone might not be for you. You may not become the best of friends with your roomie, but you want to share your home with someone who has tolerable personal habits, respects your space and personal property, and is generally pleasant to live with.

Equal distribution of labor! Keeping a house is no small task, and every person in the house (or apartment) should be responsible for certain chores. If you live with only one other person, sit down and talk about the household chores and who wants to do what. If you have more than one roommate, hold a meeting and draw up a list of chores.

Cons

Unless you do a careful screening process (or have some solid referrals from friends or family), one of the biggest drawbacks to having a roommate is you could find yourself with someone you just can’t live with. From nasty personal habits to annoying friends (because their friends and family will show up at your place sooner or later) to a radical difference in work and sleep schedules, sometimes co-habitation isn’t for everyone.

Where to find a roommate.

First, ask your friends or family if they are personally looking for a roommate to save some money. If not, ask them if they know anyone who is. You’ll probably feel more comfortable living with someone who has a mutual friend or other connection in common (you can ask your acquaintance some straightforward questions about the person so you know about their personality, habits, and background right up front).  Taking on a roommate can be a big risk, so you should get all your due diligence out of the way before you decide. Interview the person, just as you would for a job opening. Remember—you’re looking for someone to share your personal living space, so you want to make sure you’re comfortable with the person and the living arrangement.

You can also broaden your search for a roommate by posting information on social media or looking on sites like Roommates.com, Craigslist, or Roomie Match. Depending on the site, some of them do compatibility tests, personality assessments, and other data-gathering to determine the best fit for you.

With luck and the right screening process (your gut instinct counts—if you have an uneasy feeling about anyone you speak with, cross them off your list), you’ll find a compatible roommate and your living arrangement will work out just fine.  

Renters’ insurance is always a smart purchase regardless of how many roommates you live with. This coverage will reimburse you for lost or damaged personal property. If you live with someone, you should all have your own renters’ policies to ensure you each have the coverage you need.

Do you, or have you ever, lived with a roommate? How did you find them? We’d love to hear about your experience in the comments below!

What New Landlords Should Know

Being a landlord can be a good way to make extra income and occupy a building that might otherwise remain vacant, which could run the risk of becoming a blighted property. But being a landlord is also a big responsibility that requires a lot of time, money, and other resources to keep the property in good shape.

If you’re a new landlord, there are a few things you should do before you rent out a property. Read on to learn more.

Know your rights. Both landlords and tenants have their own respective rights; read up on landlord-tenant laws so you know what each side is entitled to before you advertise the space.

Decide on a price. Do your homework. Research similar properties in your area to determine a fair price for the monthly rent.

Set limits.  You can determine what tenants can and cannot have in the residence. For instance, will you allow pets? If so, how many? What kind?

Advertise the property.  Depending on where you live and what kind of residence you’re renting, you may want to casually mention your vacancy to friends or family and ask them for referrals first.  If you don’t get much interest or aren’t happy with the folks you do speak with, widen your search by posting your vacancy on social media or different property rental websites.

Screen potential tenants. Keep in mind that by being a landlord, you’re opening yourself up to a host of personality types when it comes to potential tenants. Protect yourself and your rights by screening each applicant—usually a background check and credit check will suffice, although some landlords still ask each applicant for references.  You can never be too careful about who you take on as a renter, so you want to make sure you’re doing the necessary due diligence to protect your rights as a landlord and your property.

Customize each lease. You can work with an attorney or property manager to draw up a lease, or save yourself some money and download a customizable template. In it, clearly state the terms and conditions of renting the property as they were explained when you agreed to take on the tenant. You can choose to negotiate the terms of the lease at renewal or keep them the same.

Inspect property regularly. The landlord-tenant relationship goes both ways—just as you have certain expectations of your tenant, they have certain expectations of you as their landlord.  A big part of that is doing routine maintenance and tending to any unexpected issues that pop up. Some problems may be able to wait; others, not, but you should respond to any maintenance calls as quickly as possible.

What other tips would you add for new landlords? We’d love to hear from you in the comments below!

Travel Tips for First-Time Cruisers

Warmer weather naturally makes us start thinking about summer—specifically, summer vacation! Whether you visit the same destination every year or change up your adventures, vacations are a great way to unwind, recharge, enjoy a change of scenery, and spend some quality time with your nearest and dearest.

If you’re thinking of doing something different this summer, cruising is one of the most convenient and affordable ways to vacation.  You can book getaways for as little as three days, or for as long as your budget and schedule will allow.  Cruising might seem expensive, but if you break it down, it’s really a great value—think of how expensive it would be to visit each port of call by itself, not to mention your lodging and meals (your flight to the departure port would be an additional expense, so that is something to consider when planning).  Cruises are often seen as travel for the over-65 set, but cruise lines have come a long way and now truly offer something for everyone. The idea of spending several days at sea might make you nervous, but focus on the experience of seeing new places, meeting new people, rather than the fact that you’re on a ship.  Follow the rules and regulations (and you can expect a safety or “muster” drill within your first few hours onboard), but focus on the positive rather than potential safety risks.  You need a passport if you’ll be sailing in international waters (even if you’re cruising from the U.S. to Canada). If you need a passport, make sure your application is sent a few months before your trip, as it can take 6-8 weeks to process.

Ready to move forward? Below are a few more tips for first-time cruisers.

Use a travel agent.  Most vacations can be scheduled with a few clicks, but booking a cruise is a little more involved and a travel agent can help you every step of the way.  Agents can find you under-the-radar deals and discounts, process your check-in paperwork and other necessary forms, and answer any questions that might pop up while you’re planning.  

Take your room card with you everywhere. One of the first things you’ll learn when you board the ship is that your room card is essentially your lifeline, because it’s both your room key and debit card. You use it for any onboard purchases, then you’ll get a summary of your expenses at the end of the cruise.  Although your room and most of your meals are included, alcohol, shore excursions, some onboard services (like a massage) and certain specialty restaurants may have additional costs.  

Have a buddy. Cruise ships are getting bigger all the time, and until you and your group familiarize yourself with the layout of your ship, it can be overwhelming.  It’s best to meander around the ship with at least one other member of your group.

Learn your way around the ship. A week to 10 days is a long time. Do you know how to get to the main dining room, pool, or fitness center?  What if you want a bite to eat or something to drink at 1 a.m.—do you know what’s open? Wander around the ship and find out where things are.

Don’t stay in your cabin! Unless you’re staying in a deluxe oceanside suite with a balcony, your stateroom is probably pretty small. Don’t spend more time in your room than necessary—there’s a whole ship outside your room to explore and thousands of fascinating people to meet! No matter which cruise line you sail with, you can expect two things: lots of food, and lots of activity.  Lectures, dance and art classes, shows, games, movies—you name it, it’s probably happening somewhere on the ship! Sure, the ports are fun and fascinating, but you can have just as much fun onboard.  Talk to people outside of your group—this is probably one of the few opportunities you’ll have to meet folks from around the country, if not the world. Make the most of it!

Whether you’re cruising nationally or internationally, travel insurance can give you additional peace of mind if your trip is cut short or cancelled. At ETA Benefits Group, we work with several providers that sell this valuable protection. For international travelers, consider travel medical and international health insurance, which can cover any expenses related to accident or injury. Contact us to learn more.

Have you ever been on a cruise? What other travel tips would you add? We’d love to hear from you in the comments below!

Condo vs. Apartment: What's the Difference?

If you ask most people the difference between a condo and an apartment, you’d likely get responses like: “A condo is a fancy apartment”, “Condos are more expensive”, “Condos are nicer.”  While none of these responses are wrong, there is a lot more to living in an apartment or condo than these simple answers suggest. The key differences between a condo an apartment have less to do with appearance and more to do with ownership. Price-wise, depending on the location, rent is usually roughly the same for a condo or a more upscale apartment.

Let’s look at each type of residence—if you’re considering moving into either, you’ll have some of the information you’ll need to make the right decision.

Condo

A condominium is defined as a building or group of buildings in which each unit is owned by the tenant; an apartment building is owned by a landlord. Due to its ownership structure, a condominium complex typically has its own homeowners’ association.

Other information:

-Because condos are individually owned, these units are typically well-maintained, often with higher-end appliances, fixtures, and other upgrades.  (So even if you rent a condo, you’ll probably find that the owner keeps it in pretty good shape.)

-The owner of the condo can renovate or remodel the space however they like.

-Residents of a condominium complex usually have shared common areas, such as a gym, pool, and garage or designated parking area available for their use.  

-There’s usually more flexibility with a condo’s amenities (garbage, water, and sewer, and even additional services like snow removal) as part of the rent because of the homeowners’ association’s collective bargaining power.

Apartment

Apartments are owned by a landlord or leasing management company, so any requests for repairs or other issues must go through the owners.

Other information:

-Unfortunately, because a tenant doesn’t own the apartment, there’s no way to know how they will maintain the space. Landlords usually ask for references and tenants pay a security deposit, but even that doesn’t guarantee they’ll leave the apartment in pristine shape.

-Tenants usually can’t redecorate or remodel an apartment on a large scale without the landlord’s permission.

-Apartments aren’t just in multi-floored buildings in cities. You can find apartments in small- to medium-sized towns and cities. They're in renovated old homes, above or behind small businesses, restaurants, and bars, or in traditional apartment-style housing.

-Amenities are usually standard (water, sewer, garbage); tenants can sometimes, but not always, negotiate the terms of the lease.

ETA Benefits Group works with several homeowners’ insurance carriers that provide coverage for any type of residence (home, condo, motor home, and renters’).  Do you need a new policy or are you looking for a better one? Contact us!

Have you ever lived in an apartment or condo? What was your experience? We’d love to hear from you in the comments below!