Is the tile really *that* ugly? (1973)

plus love vs. money

͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌  July 18, 2022 • Issue #14 Money is turning 50! To celebrate, we've combed through decades of our print magazines to uncover hidden gems, fascinating stories and vintage personal finance tips that have (surprisingly) withstood the test of time. Throughout 2022, we'll be sharing our favorite finds in this special newsletter. Ready to dive into the archive? It crosses every homeowner's mind when they get tired of that faulty oven or garish backsplash — "I'll do a really cool kitchen upgrade. Then, when it's time to sell, I can recover the money I put into it." But do you actually get all your money back from a remodel? In Money's January 1973 issue, writer William B. Mead looked into home remodeling… and how much of those improvement costs residents were likely to recover if they sold the house. The sad truth? While some remodels did bump up the sales price, most of the time folks were lucky to get half of that investment back. For example, a full kitchen remodel could cost up to $7,000 back then — but the ROI was only $3,000. Five decades later, wall-to-wall wood paneling and linoleum floors may no longer be in vogue, but the odds of recovering the cost of a kitchen makeover haven't changed. These days, a major kitchen upgrade — think: touchless faucets, smart refrigerators and plenty of storage space — can cost about $80,000. According to the 2022 Cost vs. Value report, you should only expect to recover about 56% of that. This doesn't mean you should let your home fall into disrepair. As the 1973 article points out, you should consider projects that will make your life more comfortable, enjoyable and meet the needs of your family.  That kind of investment is priceless — and timeless. For more home remodeling tips that still hold true today, read Mead's story here. — Leslie Cook, lead mortgage reporter IN OTHER NEWS… 💰 Selling a piece of history: In 1977, a mail order service was hawking a 1 ⅜ inch piece of carpet for $10 plus shipping and handling. What made it so special? According to an ad in Money, it was "The Very Carpet The Five Watergate Burglars Stood on at The Moment of Their Arrest at 2:30 A.M., June 17, 1972." Wonder what it's worth now... 💰 Cash isn't king: A 1985 Money poll found that the average person carried $27 in cash. Credit cards were another matter, with most respondents saying they carried at least three cards with them. (The most popular card at the time? The Sears credit card.) Cha-ching. 💰 'I don't': In a May 2017 survey, we asked our readers what they would prefer: finding true love or getting $1 million every year for life. The cash eked out a narrow win, with 51% saying they preferred getting the money compared to 47% who preferred true love. Interestingly, 44% of married respondents opted for the cash. Just over 70% of those who were separated wanted the money. Guess one trip to the altar was enough? SHOW ME THE MONEY   It's been a rough year so far, but one can only hope the bears take a hike soon. TEST YOUR MONEY MEMORY In 1994, editors and reporters from Money were featured on Money Tonight, a TV show dedicated to providing tips on how to manage your personal finances, every Monday night. What network did the show air on? CNBC C-SPAN Bloomberg CNN Thanks for reading! If you enjoyed this edition of Money Classic, please forward it to a friend or tell them to sign up at money.com/subscribe. We've got a full year of 50th anniversary surprises planned, so stay tuned — and in the meantime, check out Money.com for up-to-date news and advice. Recent stories include Got a Backyard? You Can Make Thousands a Month By Letting Dogs Come Play in It, Current Mortgage Rates Creep Back Up and Want to Refinance Your Mortgage? Do These 7 Things Now.

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