hi, everyone welcome to on the money i'm becky quick. ready to renovate? more and more people are improving their homes. the most, the fastest and the latest trends. want to skip the line? we're not just talking about airports the technology that gets you through security faster. plus there's a catch. >> teaching kids about money, why a conversation now can pay big dividends later. also mr. chocolate, the sweet taste of success and what is hatching next for one of his busiest days of the year on the money starts now. >> this is on the money, your money, your life, your future.

now becky quick. >> we begin with upgrade aing at home today's housing market is pricey and competitive and that has more homeowners staying put and renovating instead of moving but what about the returns which renovations will give you the biggest bang for your buck. >> she has a vision for her family of four. >> it's getting there. she and her husband are enlarging the kitchen, adding a family room and upstairs master suite. more space was paramount. >> it was a balance. we always had the possibility of resale in our mind but we think we're going to be here for awhile so mostly we were thinking on the things we need to make our life here with our family better or more comfortable. >> homeowners are staying in their homes longer today than in the past upgrading and remodelling more and some projects nearly pay for themselves garage door replacement will

give you 98% of your investment back according to remodelling magazine's cost versus value report it asks how much a renovation would add to the sale price of a home selling in the same year. manufactured stone came in second and a steel front door ranked third other high returns a deck revision and minor kitchen remodel. >> kitchens, bathrooms, you'll probably get 60 or 70 on the dollar for those investments and things that are more decorative, generally speaking a little bit less on those. >> doing a simple remodel or upgrade will give you a better return than an addition or something fancier. that's a big key why, the cost of labor and materials are both skyrocketing and that shifts the equation but of course value can be subjective depending on how long you plan to stay. >> if you live in a place 10 or 15 years and raise a family you'll get that money back plus

the value of living there and enjoying the additional space. >> as with everything in real estate, location maertters. no matter where you are, remember, before you pour your life savings into it, your dream kitchen may not be someone else's for on the money in washington. >> why are more people deciding to stay in their homes rather than move and what renovations will add most value to your home joining us now are cheryl young. also scott is real estate investor, a contractor and host of diy network show called buyers boot camp thank you for being here today why do you think more people are deciding to stay put and remodel? >> we know that inventory is at historical lows so as you can imagine there's a lot of competition and really high prices so if you're looking to sell your home, you may have no problem at all but once you become a buyer it's harder to

find that dream home at a price point you can afford. >> scott, you actually do help people renovate and sell their homes. what tow see that you think will help get the biggest return. >> the big thing to look at is do you stay and renovate or do you look at purchasing resale is typically cost per square foot the cost per square foot to add an addition, that is less than the cost per square foot for purchasing we start to see people adding value by renovations or adding additions. that additional space can bring additional value. >> what about the idea of bathrooms and kitchens i always heard that was the most important thing you could do. >> you have to appeal to the fundamentals so for instance when they pull up to a home, they want to make sure that it's a safe and secure place. things like a steel front door and secure garage door, those appeal to your basic needs as a

home buyer so we always see good returns on those investments but i wouldn't throw the baby out with the bath water when it comes to renovating the inside of your home to appeal to the emotional buyer because i've heard of everything from a major kitchen remodel to get you a 50% return on investment but i've also seen that a good kitchen remodel can get you 150% return on your investment. >> a lot of markets, what should buyers be aware of >> that's right. there's a lot of competition out there, it's pretty brutal so people are getting above asking. they're having multiple offers that they're entertaining and if you're a buyer you're going to befacing that competition and you should be prepared for that. so what we generally recommend for home buyers especially in this market is get everything prepared

start with understanding how much you're willing to spend and how much you're willing to stretch if you can't get that home you're going to want and so then really just start thinking about financials visit your credit score. start shopping around for mortgage and mortgage rates. they're going upright now and then once that's in order really engage your local or state agent to november gate finding a home. >> you know, i know your research shows people are willing to spend 41% of their income on it is that a sign. >> yeah, you know, i think a short answer in terms of a natural bubble is no but for sure, the housing market is definitely overheated and 41% of your income is much higher than the recommended 30% so people are really going to have to stretch their budges a little

bit more and have to make sacrifices but the starter home buyers in other parts of the country it's still relatively affordable you're spending less than 25% of your income on a starter home so we really don't see that kind of speculation that we did in the last crisis. we don think we're in volatile territory yet. >> are there any renovation pitfalls that people should really avoid places where they're not going to see a return on their investment >> if you're young and you're struggling, try to buy something that you can afford and put the sweat equity in over time. it's not always about return on investment but it's also about return on life style there's some things you can upgrade in order to make more money in the long run but also

make sure that your lifestyle is going to be upgraded as well especially if you're going to stay in a home more than five years. put something in that's going to make you feel better or allow you to have a family or do whatever it is you need to do. >> you make it look so easy. thank you for your time. >> thanks for having us. >> here's a look at what's making news as we head into a new week on the money. america's economy grew faster than first thought in the last quarter of 2017. the gross domestic product which is the broadest measure of the size and scope of the economy increased by 2.9% ahead of earlier readings and better than estimates. consumer spending with was strong though profits weakened can you say volatile the stock market can the dow had the third biggest point gain on monday though at a percentage basis it wasn't even the top 30 helped push the major outages down sharply with the nasdaq falling 3% stocks rose.

your next car may not be quite as efficient as you had hoped. the federal agency that oversees gas mileage may cancel planned hike and gas guzzler penalties for auto makers. they' the national highway traffic administration says hiking the penalty would have a negative economic impact. get you through security faster. now the company behind that wants to get you through lines in other places too. show you how that works and what it costs later, teaching your teens money lessons. what they can learn from your spending and saving mistakes right now a look at how the stock market ended the week.

baseball season is now in full swing

opening weekend is one of major league baseball's busiest but a company that helps you quickly get through security at the airport can now quickly get you into many ballparks as well. she is clear's ceo great to see you. >> thanks for having me. >> everybody knows about clear and that it can help you through lines at the airport you have something like 2 million members signed up now? >> that's right. clear is about using biometrics for a faster and more secure experience you enroll once. you're always you. you get to the airport you're pulling out your wallet to show your driver license but we connect it to you one time you can show your fingerprints. >> how much faster is it if i can go through those lines because sometimes the tsa lines can be long. >> materially faster think about it as an atm machine. you go to the atm machine because you know it's fast

fingerprints and through. >> you're in the airports and now you're in nine different major ballparks. >> that is correct. >> why ballparks why make that jump. >> so sports stadiums, not just ballparks are looking a lot like airports these days. about 48,000 fans come to a major league baseball game 50% of them come within 30 minutes of game time that's 24,000 people trying to get through securely, effectively, make that first pitch and enjoy the game. >> to sign up, what do i do? do i need to show up at the airport? show up at the ballpark? >> you have to show up, verify your driver's license and connect your biometric to it. >> you'd have to upgrade. >> so you think about how you track all of this information and in this day and age when we're looking at privacy so closely, how do you protect that

information? how do you make sure that bad guys don't get ahold of it and all of my information is out there. >> i'm glad you ask that privacy and data security is core to who we are from day one. it's important to be talking about that because we're proud of that. we do not sell or share our customer's data. it's core to who we are and core to our company. >> so you'll never sell it to a third party. >> no. >> one thing i think about is are you potentially going to be in a situation where you're the victim of your own success so many people sign up that the lines get really long again? >> so we think about that every day. number one we're obsessed with our customer experience. we're looking at data every which way to make sure that customers are enjoying a fast frictionless experience. there used to be one easy pass lane and lots of cash lanes. now there's lots of easy pass lanes and lots of ca-- one cashe

we think we'll continue to add lanes. continue to take down the speed of verification and make it better and more scalable. >> the company is called clear thank you for joining us. >> thanks for having me. >> up next, we're on the money do your teens understand credit and debt teaching them the money skills that they will need before they're in the real world. and later, it's one of the biggest seasons for chocolate makers sweet treats are out there for easter which ones will you get in your basket mom you called?

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april is financial literacy month. it's a good time to talk to your kids about money now to help them get ready to deal with real world finances later everything from saving, spending, money lessons taught at home can prepare your kids for adulting sharon is here to explain just what that means. is that a made up word adulting, or is it for real? >> it's a for real word. a lot of people are using it now. they're looking at what does adulting really mean what does it mean for young people taking on responsibilities like grown ups. whether that's a 9-5 job or having to pay for their car payment or rent. these are responsibilities that they're taking on and the progression to get to that point is adulting. usually young people 18 to 24. >> what sort of skills do they

need what sort of experience do they need before they get to this position of adulting >> they need to learn about how to handle their finances and where are they going to do that. there's some classes they can take in high school but very few high schools make it a requirement to take a personal finance class. only 17 states. >> that's crazy. >> it is crazy it's helpful though. the kids able to take financial education in high school are able to say that now they feel much more comfortable about their finances, they're budgeting more, they're saving more, they're actually plan ago head for things more as well and when you look at the fact that 81% taking a financial class are creating a budge that's pretty significant and it's a good starting point but what really needs to happen is those lessons need to be taught at home too. parents have to also be the teachers for our kids when it comes to handling their money on a daily basis and the kids that have taken those lessons in school say they learn more from their parents and do more when

it comes to budgeting, saving, and saving in the long-term. >> what's the right way to sit down -- >> you don't have to pick a certain age to do it a lot of people think we'll wait until they go to high school and help them with that class. as soon as they're able to come with you to the store and see how you spend money and you start those conversations early on i remember one of the early conversations i had with one of my kids about big ticket purchase was buying a refrigerator and we all used it a lot. i wanted him to know how much they cost. we looked at them and talked about the costs of those things. it helps to have those conversations all along the way and not just expect them to become adults and be able to handle money the money talk doesn't happen on the day they get their college acceptance. >> it's also hard to figure out when do you tell them how much money you're make something do you tell them that there's complicated things that are uncomfortable. >> my kids say i talk them it too much i tell them how much it costs

how much camp costs, how much lessons costs, how much they need to have in their account so they can pay for their own metro card to get to and from school it helps to have the lessons along the way and when they start to get the part time jobs, baby sitting or having a summer job so they can manage their own money. >> i'm going to sit closer i'll take some of your lessons from that. up next a look at the news for the week ahead and the big business of chocolate bunnies. we'll get a look and a taste of some of the latest trends in easter chocolate rescue workers only trust dawn, because it's tough on grease yet gentle. i am home, i am home, i am home

on monday we'll begin to read the index for march on tuesday auto sales for march will be released an on wednesday a look at how the services sector is fairing when it comes to the non-manufacturing report. also marks the deadline for companies in britain to report the difference between what men and women earn and it's national peanut butter and jelly day. of course on friday we'll see how many jobs were added to the economy in march easter weekend is one of the busiest times for chocolate makers and americans are expected to spend $2.5 billion on candy for the holiday joining us is someone that owns his own chocolate company and

also the judge on a new netflix series that's called nailed it thank you for being here today. >> thank you i'm very happy to be here. $2.5 billion that's a lot of money. >> where does easter rank in terms of the holidays. >> about the second for us we do hand chocolates. the first is christmas, easter, valentine's day, mother's day. those are the big holidays for us. >> your four super bowls of the year. >> wryeah. >> there have been signs that maybe people are a little more concerned about their health and a little less likely to eat sweets and maybe even chocolate. what have you seen >> what i have seen is that dark chocolate can be good for you. when i say can it's about what type of dark chocolates that you are eating don't eat the dark chocolate with so much sugar we're making dark milk chocolates. >> dark milk is a milk chocolate

that contains over 50% contents and very little sugar. so i have some here that i'll bring if you want to try that. >> it smells fantastic. >> it's not too much sugar and it's a lot of cocoa and it's good for your health. >> what are your best sellers? we're looking at them. >> we're looking at them i love the big things because they make statements it's about the size of my son. my son is 1.5 and when you see the rabbit, and for easter a lot of the little eggs, and so we said, look how cute is the chicks here. >> six pound of chocolate.

>> it's going to make somebody stop and pay attention. >> and you know what, sometimes i give some to my friend and he would love to take that to school and then they break it in the classroom for the whole class. >> so this is a great gift. >> it is your new show, netflix has really caught on because of the chemistry between you and the other judge but also what's happening. tell us a little bit about the show these people are not bakers. >> yes, it's a fun show. when we make something like that before the show and we will not a nonprofessional baker to reproduce that and the one that comes the closest gets $10,000 a lot of the competition shows on tv are very serious this is not a serious show back to reality, what do you do in the kitchen when you make dessert? you have fun have a glass of wine and

whatever come out come out it's okay. and if you don't succeed the first time you succeed the second or third time cooking is fun. >> you already signed up for a second season. >> i'm very excited about it. >> thank you for being with us today. >> thank you very much i'm so happy to be here today and i'm enjoying that you love the dark milk. >> don't think you're taking this back. >> i don't >> thank you very much that is our show for today i'm becky quick. thank you so much for joining us when self-driving cars get confused we have a pretty surprising solution each week keep it here we're on the money and we'll see you next weekend but i'm not standing still... and with godaddy, i've made my ideas real. ♪ ♪

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