Government-backed loan applications fared slightly better, with FHA and VA applications seeing growth. The FHA share of total applications rose to 13.2% from 12.7% the week prior, while the VA share increased to 12.1% from 12.0%. The USDA share of total applications decreased one basis point to 0.3%. “Government purchase volume was down less, helped … [Read more…]
Farm Operating Loans can be used to purchase livestock, seed and equipment. It can also cover farm operating costs and family living expenses while a farm gets up and running.
FSA offers up to $400,000 for eligible borrowers through Farm Operating Loans.
Operating loans can also be used for forest operation needs. View more USDA resources on our forest operations page.
Microloans are a type of Operating or Farm Ownership Loan offered by FSA. They’re designed to meet the needs of small and beginning farmers, or for non-traditional and specialty operations by easing some of the requirements and offering less paperwork.
Youth Loans are a type of Operating Loan offered by FSA for young farmers between 10-20 years old who need assistance with an educational agricultural project. Typically, these youth are participating in 4-H clubs, FFA , or a similar organization.
Guaranteed farm operating loans offered by FSA may be used to purchase livestock, farm equipment, feed, seed, fuel, farm chemicals, insurance, and other operating expenses.
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Do you ever walk out of the movie theatre after seeing a film and just want to applaud? It can be so satisfying when your favourite actor holds their own in a serious role, successfully transitioning from funny to dynamic and back again. The best actors have mastered the skill of seamlessly segueing between different tonal registers, creating memorable performances that stay with you long after the credits roll. Below are the top 15 picks for those who excel at humorous and dramatic roles!
1. John C. Reilly
“John C. Reilly, who even had a comedic song at the Oscars once at how he was both in Boogie Nights and Talladega Nights.”, shared one user.
One user quoted, “‘I got cut in half real bad.’”
2. Olivia Colman
One user shared, “Olivia Colman, winner of the 2013 BAFTA TV Award for Best Female Comedy Performance, and Olivia Colman, winner of the 2013 BAFTA TV Award for Best [Dramatic] Supporting Actress.”
Another user replied, “Love her so much. My wife was a huge fan of Peep Show, and we thought she was so funny; then we watched Broadchurch, which blew us away. Now she’s a movie star, and I couldn’t be happier for her.”
3. Bryan Cranston
One user posted, “Bryan Cranston. Amazing in Malcolm in the Middle and Breaking Bad. Simply one of the best.”
Another user commented, “I wonder why I had to scroll down that far. He played both one of the funniest and most threatening roles on TV. There were a few interviews where he slipped into Heisenberg conversation, and it’s fascinating how he can transition flawlessly from funny answers to being hyper-serious and scary.”
4. Rose Byrne
“Rose Byrne.”, posted by one user.
Another user shared, “Came to say this—she’s clearly had dramatic chops since the Damages days, but she’s also hilarious in any comedy you put her in, even if the movie itself isn’t.”
5. Steve Carell
“Steve Carrell always had that comedic actor label for the longest time for me. Even with more serious roles like in Dan in Real Life he still played it funny. But then I saw Foxcatcher, and he just DISAPPEARED into that role and was absolutely terrifying. I totally bought him as Du Pont, and despite all of the comedic roles he’s done before, it did not take me out of his monstrous performance he did one bit. Great addition!” said one user.
6. Sam Rockwell
One user mentioned, “Second him. In my experience, all his characters are likable and charismatic in some way. In The Green Mile, he was not exactly a likeable guy, but his performance was so energetic it was hard not to enjoy watching it.
Loved him in Three Billboards Outside Ebbing Missouri. That was a character that felt part realistic, partly like a comedic character. Serious and humorous. Such an outstanding balance.”
7. Jeff Daniels
One Redditor stated, “Jeff Daniels.”
Another added, “Lol My Favorite Martian and Dumb and Dumber to Newsroom is so insane because it’s such an extreme contrast in terms of performances but he nails both perfectly. I think this is my favourite addition. Thank you!”
8. Robin Williams
“Robin Williams. He can break your heart, make you just about [pee] yourself laughing, then break your heart, leaving you sobbing all over again, all in the space of 3-4 minutes,” posted one user.
9. Adam Scott
A Redditor added, “Surprised no one mentions Adam Scott. Significant in Severance and Step Brothers/Parks and Rec.”
Another user replied, “I was in awe at how amazing he was in Severance. I wouldn’t have bet on him being this good.”
10. David Tennant
“David Tennant. One of the most popular incarnations of Doctor Who; played the insidious Purple Man in Jessica Jones; then was fantastic in Broadchurch (alongside another worthy mention Olivia Colman) and is currently back as Crowley in Good Omens,” commented one user.
11. Emma Stone
One posted, “Emma Stone.”
Another user replied, “Great choice! I absolutely cannot wait to see her in Poor Things.”
11. Bob Odenkirk
“Bob Odenkirk deserves a mention,” shared one user.
12. John Goodman
One user shared, “John Goodman.”
Another user replied, “Check out the TV series Treme. The first season, he was amazing.”
13. Phillip Seymour Hoffman
“I’m pretty amazed everybody in this thread really forgot about Phillip Seymour Hoffman,” one user posted.
Another Redditor added, “Same, I thought he’d be close to the top. He was the first actor I thought of.”
14. Robert de Niro
One Redditor shared, “De Niro made a pretty solid transition to comedy with Analyze This and Meet the Fockers, but then it didn’t quite continue, and he made more bad comedies than good. Still, he himself can definitely do perfect comedy and is believable; just should have picked better scripts.”
15. Meryl Streep
“Meryl Streep,” shared one user.
One Redditor commented, “Meryl does whatever the f- she wants because she can, and she pulls it off. Same with Helen Mirren. They’re perfect and my life goal for beautiful aging.”
What do you think of the actors listed above? Share your thoughts, or you can read more here!
10 Actors Perfectly Cast for Their Character Roles
Have you ever watched a movie or show and been completely lost in it because of how well an actor or actress became their character? Check out this article for a whole list of actors who were perfectly cast!
11 Vampire Movies That Will Make You Thirst for More
You know that feeling where you’re on a movie kick in a certain genre, but you seem to run out of good movies to watch? Well, if you’re down for a vampire movie or three, check out this article for the best ones out there!
10 Incredible Movies That People Rated 10 Out of 10
It’s pretty hard to replicate the experience of watching your favorite movie for the first time, but we’ve put together a list of movies that people have rated at a perfect 10/10. Next time you need a good movie to watch, check this out!
10 Famous People Who Canceled Themselves With Their Own Stupidity
We’ve all been there: you make a comment you haven’t thought through at all, and the whole room goes silent at what you’ve just said. But can you imagine doing that as a famous person—and getting canceled? Check out this list of celebrities who did just that!
13 Things You Shouldn’t Do When You’re in the US
Are you planning a trip to the US? Culture varies a lot between countries, even countries that share borders. So if you’re headed to the good old U. S. of A, here are a few pointers to make your travels go more smoothly!
Home prices are likely to increase slightly faster than previously thought in 2024, but slower than a prior projection for next year as the number of for sale property listings should rise, a survey of housing experts by Fannie Mae found.
A second quarter survey found a panel averaging 4.3% growth pace for 2024, up from 3.8% in the first quarter survey. Year-to-year for 2025, the panel expects growth of 3.2%, down from 3.4% one quarter ago. Annual appreciation last year was 6.6%, Fannie Mae said.
Most of those surveyed, 84% of the 95 responses, support the belief that the lock-in effect — potential sellers are staying where they are because they have a much lower mortgage rate than what is currently available in the market — is diminishing.
The Home Price Expectations survey was conducted with Pulsenomics between May 9 and May 21. That was a period where average mortgage rates dropped to 6.94% on May 23 from a 7.22% peak on May 2, according to Freddie Mac.
However, 16% of respondents supported the proposition that the recent rise in inventory is a “temporary jump” related to the needs of a certain group of current property owners who could no longer delay moving on from their current home.
Home prices are rising, and although the pace is diminishing, they are still going up, said Doug Duncan, chief economist at Fannie Mae, in an interview with National Mortgage News editors and reporters.
At the same time mortgage rates have stayed in the 7% range.
“Is the 7% mortgage a breaking point?” Duncan asked. “Incomes have not grown enough to catch up to that combined pair of costs.”
Part of the reason why house sales are so low is that many people bought earlier this decade as a result of the pandemic and the work from home trend that made proximity to an office unnecessary, allowing movement to lower cost areas.
It might have moved approximately 1.5 million buyers forward in time for when they normally might have purchased a home, Duncan continued.
When the survey asked about the impact on price appreciation if evidence arises that the lock-in effect is fading in the coming months, just under half of the responses, 49%, said it would decelerate somewhat. Another 10% thought it would decelerate significantly.
Approximately one-quarter of the 94 responses to the question said home price appreciation would not change much and another 15% went as far to say that this would accelerate somewhat.
On a cumulative basis, the panel expects two-year price growth of 7.67%, three-year growth of 11.4%, four-year growth of 15.92% and five-year growth of 20.78%.
The rate forecast from the panel also was significantly increased, with the 30-year to end 2024 at 6.6%, versus 5.9% in the last survey.
“A slowdown in home price growth and easing mortgage rates offer a glimmer of hope that the peak of the housing affordability crisis may be behind us,” Terry Loebs, founder of Pulsenomics, said in a press release. “However, the price surge of over 50% nationwide since early 2020 has created a high hurdle that will, unfortunately, keep many aspiring homeowners on a slower path to achieving their dream.”
Meanwhile, for the four weeks ended June 2, home prices rose 4.4% on a nationwide basis year-over-year to a new high, Redfin found. But it too is seeing evidence of softening, as 6.4% of sellers on average during the period cut their asking price, the highest share since November 2022.
While the median sales price for this period was $392,200, the median asking price rose 5.9% from one year earlier, to $417,274.
Prices actually fell in four large metropolitan areas — the Texas cities of Austin; down 2.9%; San Antonio, 1.2% lower; and Fort Worth, which also had a 1.2% fall; along with Portland, Oregon, where prices were off by 0.9% compared to the same time last year. That is the most metros with price declines since January.
For those observers looking for increased inventory easing the market, the data in the Redfin report might give them pause.
New listings increased by 6.9%, the smallest amount in the past four months, with the exception of the four-week period ended May 5.
Active listings grew 15.8%, Redfin said, and the median time on market increased by three days to 32.
Inside: Learn what 40 an hour is how much a year, month, and day. Plus tips to budget your money. Don’t miss the ways to increase your income.
You’re probably wondering if I made $40 a year, how much do I truly make? What will that add up to over the course of the year when working?
Is my $40 an hour take-home pay compared to others in my industry? Is $40 an hour paycheck a good salary?
First of all, this is a wage you can actually live on and should be able to thrive and reach your financial goals. Annually $40 an hour should help you to breathe easier with your finances. You might wonder how can I start to increase my hourly wage to $45, $50 or $55 per hour?
Most of the hourly jobs that pay over $40 an hour do not require a degree, which is great news! Those paid on a salary basis tend to have a college degree and do not even calculate their hourly wage.
In this post, we’re going to detail exactly what $40 an hour is how much a year. Also, we are going to break it down to know how much is made per month, bi-weekly, per week, and daily.
That will help you immensely with how you spend your money. Because too many times the hard-earned cash is brought home, but there is no actual plan for how to spend that money.
By taking a step ahead and making a plan for the money, you are better able to decide how you want to live, make sure that you put your money goals first, and not just living paycheck to paycheck struggling to survive.
The ultimate goal with money success is to be wise with how you spend your money.
If that is something you want too, then keep reading. You are in the right place.
$40 an Hour is How Much a Year?
When we ran all of our numbers to figure out how much is $40 per hour is as an annual salary, we used the average working day of 40 hours a week.
40 hours x 52 weeks x $40 = $83,200
$83,200 is the gross annual salary with a $40 per hour wage.
As of June 2023, the average hourly wage is $33.58 (source).
Let’s break down how that number is calculated
Typically, the average workweek is 40 hours and you can work 52 weeks a year. Take 40 hours times 52 weeks and that equals 2,080 working hours. Then, multiply the hourly salary of $40 times 2,080 working hours, and the result is $83,200.
That number is the gross income before taxes, insurance, 401K, or anything else is taken out. Net income is how much you deposit into your bank account.
At this salary, you are right between the above-average $75000 salary threshold and coming closer to a $100k salary.
Work Part Time?
But you may think, oh wait, I’m only working part-time. So if you’re working part-time, the assumption is working 20 hours a week at $40 an hour.
Only 20 hours per week. Then, take 20 hours times 52 weeks and that equals 1,040 working hours. Then, multiply the hourly salary of $40 times 1,040 working hours and the result is $41,600.
How Much is $40 Per Month?
On average, the monthly amount would average $6,933.
Annual Amount of $83200 ÷ 12 months = $6933 per month
Since some months have more days and fewer days like February, you can expect months with more days to have a bigger paycheck. Also, this can be heavily influenced by how often you are paid and on which days you get paid.
This helps a financially stable person manage their finances without a bunch of stress. And if you are making above the average income worker and still stressing about money, then you need to learn to drastically cut your expenses.
Work Part Time?
Only 20 hours per week. Then, the monthly amount would average $3,467.
How Much is $40 per Hour Per Week
This is a great number to know! How much do I make each week? When I roll out of bed and do my job, what can I expect to make at the end of the week?
Once again, the assumption is 40 hours worked.
40 hours x $40 = $1,600 per week.
Work Part Time?
Only 20 hours per week. Then, the weekly amount would be $800.
How Much is $40 per Hour Bi-Weekly
For this calculation, take the average weekly pay of $1,600 and double it.
$1,600 per week x 2 = $3,200
Also, the other way to calculate this is:
40 hours x 2 weeks x $40 an hour = $3,200
Work Part Time?
Only 20 hours per week. Then, the bi-weekly amount would be $1,600.
How Much is $40 Per Hour Per Day
This depends on how many hours you work in a day. For this example, we are going to use an eight-hour workday.
8 hours x $40 per hour = $320 per day.
If you work 10 hours a day for four days, then you would make $400 per day. (10 hours x $40 per hour)
Work Part Time?
Only 4 hours per day. Then, the daily amount would be $160.
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Whether you want to:
Retire in peace without financial anxiety
Pay your bills without taking on a side hustle
Quit your 9-5 and do what you love
Or just make more than your current income….
Making $1,000 every.single.day is NOT a pie-in-the-sky goal.
It’s been done over and over again, and the 30,000 students that Teri has helped to be financially independent and fulfill their financial dreams are my witnesses…
$40 Per Hour is…
$40 per Hour – Full Time
Total Income
Yearly Salary(52 weeks)
$83,200
Yearly Wage (50 weeks)
$80,000
Monthly Wage (173 hours)
$6,933
Weekly Wage (40 Hours)
$1,600
Bi-Weekly Wage (80 Hours)
$3,200
Daily Wage (8 Hours)
$320
Net Estimated Monthly Income
$5,294
**These are assumptions based off simple scenarios.
Paid Time Off Earning 40 Dollars an Hour
Does your employer offer paid time off?
As an hourly employee, you may or may not get paid time off.
So, here are the scenarios for both cases.
For general purposes, we are going to assume you work 40 hours per week over the course of the year.
Case # 1 – With Paid Time Off
Most hourly employees get two weeks of paid time off which is equivalent to 2 weeks of paid time off.
In this case, you would make $83,200 per year.
This is the same as the example above for an annual salary making $40 per hour.
Case #2 – No Paid Time Off
Unfortunately, not all employers offer paid time off to their hourly employees. While that is unfortunate, it is best to plan for less income.
Life happens. There will be times you need to take time off for numerous reasons – sick time, handling an emergency, or even vacation.
So, let’s assume you take 2 weeks off without paid time off.
That means you would only work 50 weeks of the year instead of all 52 weeks. Take 40 hours times 50 weeks and that equals 2,000 working hours. Then, multiply the hourly salary of $40 times 2,000 working hours, and the result is $80000 per year.
40 hours x 50 weeks x $40 = $80,000
You would average $320 per working day and nothing when you don’t work.
$40 an Hour is How Much a year After Taxes
Let’s be honest… Taxes can take up a big chunk of your paycheck. Thus, you need to know how taxes can affect your hourly wage.
Also, every single person’s tax situation is different.
On the basic level, let’s assume a 12% federal tax rate and a 4% state rate. Plus a percentage is taken out for Social Security and Medicare (FICA) of 7.65%.
Gross Annual Salary: $83,200
Federal Taxes of 12%: $9,984
State Taxes of 4%: $3,328
Social Security and Medicare of 7.65%: $6,365
$40 an Hour per Year after Taxes: $63,523
This would be your net annual salary after taxes.
To turn that back into an hourly wage, the assumption is working 2,080 hours.
$63,523 ÷ 2,080 hours = $30.54 per hour
After estimated taxes and FICA, you are netting $30.54 an hour. That is $9.46 an hour less than what you thought you were paid.
This is a very highlighted example and can vary greatly depending on your personal situation. Therefore, here is a great tool to help you figure out how much your net paycheck would be.
Plus budgeting on a $30 an hour wage is much different.
$40 an Hour Salary
Now, you get to figure out how much you make based on your hours worked or if you make a wage between $40.01-40.99.
This is super helpful if you make $41 an hour, $42 an hour, $43 an hour, or $44 an hour.
You are probably wondering can I live on my own making 40 dollars an hour? How much rent or mortgage payment can you afford on 40 an hour?
We have figured out how much $40 an hour annually is $83,200.
Using our Cents Plan Formula, this is the best-case scenario on how to budget your $40 per hour paycheck.
When using these percentages, it is best to use net income because taxes must be paid.
In this example, we calculated that $40 an hour was $30.54 after taxes. That would average $5,293.60 per month.
According to the Cents Plan Formula, here is the high-level view of a $40 per hour budget:
Basic Expenses of 50% = $2646.80
Save Money of 20% = $1058.72
Give Money of 10% = $529.36
Fun Spending of 20% = $1058.72
Debt of 0% = $0
For someone making over $80K gross annually, this should be completely doable assuming there is no debt involved. The risk most people find themselves in is lifestyle creep and keeping up with the Joneses.
You can be strategic with your saving and investing to quickly become the millionaire next door. Then, that will allow a level of time freedom you have never experienced.
To further break down an example budget of $40 per hour, then using the ideal household percentages is extremely helpful.
recommended budget percentages based on $40 per hour wage:
Category
Ideal Percentages
Sample Monthly Budget
Giving
10%
$555
Savings
15-25%
$1387
Housing
20-30%
$1595
Utilities
4-7%
$347
Groceries
5-12%
$416
Clothing
1-4%
$69
Transportation
4-10%
$243
Medical
5-12%
$347
Life Insurance
1%
$21
Education
1-4%
$35
Personal
2-7%
$94
Recreation / Entertainment
3-8%
$187
Debts
0% – Goal
$0
Government Tax (including Income Taxes, Social Security & Medicare)
15-25%
$1640
Total Gross Income
$6,993
**This is a sample budget. You can adjust your categories based on your personal situation.
Can I Live off $40 Per Hour?
At this $40 hourly wage, you are making more than $80K per year. Slowly climbing to $90000 a year and you should live comfortably on this annual salary.
This is well over the median income of $60,000 salary. That means you should be able to increase your savings percentage each year and live better than 80% of the world.
The question is, are you? Or are you straddled in debt? Struggling and living paycheck to paycheck?
Unfortunately, too many people are still struggling even though they are making nearly 4x the minimum wage.
Should living on $80K be doable? Absolutely.
Don’t be caught in a tough situation. You need to live below your means. If not, you are wasting too much of your hard-earned cash.
Can you truly live off $40 an hour annually?
If you are constantly struggling to keep up with bills and expenses, then you need to break that constant cycle. It is possible to be smart with money.
Just like any wage… you must spend less than your income. Plus consistently save.
You need to do is change your money mindset.
This is what you say to yourself… Okay, I am blessed to make more than the average worker. So, I must live on that paycheck or find ways to start diversifying my income into multiple streams and start investing. Then, I am going to give back to what helped me to get where I am today.
In the next section, we will dig into ways to increase and diversify your income, but for now, is it possible to thrive on $40 an hour?
Yes, you can do it, and as you can see it is possible with the sample budget of $40 per hour.
Living in a higher cost of living area would be more difficult. So, you may have to get a little creative. For example, you might have to have a roommate. Move to a lower cost of living area where rent is cheaper.
Also, you must evaluate your “fun spending” items. Many of those expenses are not mandatory and will break your budget. You can find plenty of free things to do without spending money.
5 Ways to Increase Your Annual Salary
This right here is the most important section of this post.
Even though, you are making good money. You might have reached a maximum ceiling of income in your field. You may need to change companies.
More often than not, you need to find ways to diversify your income. One type of income will get you far in your personal finance journey, but to truly see faster progress you need multiple streams of income.
Finding ways to increase your monthly paychecks by $500 or $1000 will add up over the year.
At this point, you want to look for at least a $1 increase to $41 an hour, $42 an hour, $43 an hour, $44 an hour, or $45 an hour.
1. Find Alternative Ways to Make Money
In today’s society, you need to find ways to make more money. Period.
There is no way to get around it. You need to find additional income outside a traditional nine-to-five position or typical 40 hour a week job. You will reach a point where you are maxed on what you can make in your current position or title. There may be some advancement to move forward, but in many cases, there just is not much room for growth.
So, you need to find a side hustle – another way to make money.
Do something that you enjoy, turn your hobby into a way to make money, turn something that you naturally do, and help others into a service business. In today’s society, the sky is the limit on how you can earn a freelancing income.
Must Read: 20 Genius Ways on How to Make Money Fast
2. Earn Passive Income
This can be from a variety of ways including the stock market, real estate, online courses, book sales, etc. This is where the differentiation between struggling financially and becoming financially stable.
By earning money passively, you are able to do the things that you enjoy doing and not be loaded down, with having a job that you need to work, and a place that you have to go to. And you still make money doing nothing.
Here is an example:
You can start a brokerage account and start trading stocks for $50. You need to learn and take the one and only investing class I recommend. Learn how the market works, watch videos, and practice in a simulator before you start using your own money.
One gentleman started with $5,000 in his trading account and now has well over $36,000 in less than a year. Just from practice and being consistent, he has learned that passive income is the way for him to increase his income and also not be a slave to his job.
Related Reading: How Fast Can you Make Money in Stocks? The Real Answer
3. Become a Freelancer
When you make $40 an hour, you are good at your job. You know what you are doing and people are willing to pay you for it.
Pick up side jobs and spend your free time as a freelancer.
This is one of the best ways to make extra money without a lot of upfront effort or costs.
I know plenty of people who make a living as freelance writers.
The options are endless if you are willing to think outside of the box.
4. Ask for a Raise
The first thing to do is ask for a raise. Walk right in and ask for a raise because you never know what the answer will be until you ask.
If you want the best tips on how specifically to ask for a raise and what the average wage is for somebody doing your job, then check out this book. In this book, the author gives you the exact way to increase your income. The purchase is worth it or go down to the library and check that book out.
If that does not pan out, then look for a new job. Maybe a completely new industry.
It might be a total change for you, but many times, if you want to change your financial situation, then that starts with a career change. Maybe you’re stressed out at work. Making $40 an hour isn’t worth it for you if you’re not able to enjoy life; maybe changing jobs and finding another job may increase your pay, but it will also increase your quality of life.
5. Find a New Career
Because of student loans, too many employees feel like they are stuck in the career field they chose. They feel sucked into the job that they don’t like or have the potential they thought it would.
For many years, I was in the same situation until I decided to do a complete career change. I am glad I did. I have the flexibility that I needed in my life to do what I wanted when I needed to do it. Plus I am able to enjoy my entrepreneurial spirit.
Tips to Live on $40 an Hour
In this last section, grasp these tips on how to live on $40 an hour. On our site, you can find lots of money saving tips to help stretch your income further.
Here are the most important tips to live on $40 an hour. More importantly stretch how much you make, in case you are in the “I don’t want to work anymore” mindset. Highlight these!
1. Spend Less Than You Make
First, you must learn to spend less than you make.
If not you will be caught in the debt cycle and that is not where you want to be. You will be consistently living paycheck to paycheck.
In order to break that dreadful cycle, it means your expenses must be less than your income.
And when I say income, it’s not the $40 an hour. As we talked about earlier in the post, there are taxes. The amount of taxes taken out of your paycheck is called your net income which $40 an hour minus all the taxes, FICA, Social Security, and Medicare is taken out. That is your net income.
So, your net income has to be less than your gross income. Learn more about gross pay vs net pay.
2. Living Below Your Means
You need to be happy. And living on less can actually make you happier. Studies prove that less is better.
Finding contentment in life is one thing that is a struggle for most.
We are driven to want the new shiny toy, the thing next door, the stuff your friend or family member got. Our society has trained you that you need these things as well.
Have you ever taken a step back and looked at what you really need?
Once you are able to find contentment with life, then you are going to be set for the long term with your finances.
Here is our story on owning less stuff. We have been happier since.
3. Make More Money
If you want if you do not settle for less, then find ways to make more money. If you want more out of life, then increase your income.
You need to be an advocate for yourself.
Find ways to make more money.
It could be a side hustle, a second job, asking for a raise, going to school to change careers, or picking up extra hours.
Whatever path you take, that’s fine. Just find ways to make more money. Period.
4. Make Saving Money Fun
You need to make saving money fun. If you’re good, since you must keep your expenses low, you have to find ways to make your savings fun!
Pick one of the money saving challenges and save more money than before.
Learn to 10k in 100 days with this envelope savings challenge!
It could be participating in a no spend challenge for the month.
Use budgeting apps to help you find more money to save.
Whatever it is challenge yourself.
Find new ways of saving money and have fun with it.
Even better, get your family and kids involved in the challenge to save money. Tell them the reason why you are saving money and this is what you are doing.
Here are plenty of things to do with no money. Free activities without costing you a dime. That is an amazing resource for you and you will never be bored.
And you will learn a lot of things in life you can do for free. Personally, some of the best ones are getting outside and enjoying some fresh air.
5. No State Taxes
Paying taxes is one option to increase what you take home in each paycheck.
These are the states that don’t pay state income taxes on wages:
Alaska
Florida
Nevada
New Hampshire
South Dakota
Tennessee
Texas
Washington
Wyoming
It is very interesting if you take into account the amount of state taxes paid compared to a state with income taxes.
Also, if you live in one of the higher taxed states, then you may want to reconsider moving to a lower cost of living area. The higher taxes income tax states include California, Hawaii, New Jersey, Oregon, Minnesota, the District of Columbia, New York, Vermont, Iowa, and Wisconsin. These states tax income somewhere between 7.65% – 13.3%.
6. Stick to a Budget
You need to learn how to start a budget. We have tons of budgeting resources for you.
While creating a budget is great, you need to learn how to use one.
You do not have to budget down to every last penny.
You need to make sure your expenses are less than your income and that you are creating sinking funds for those irregular expenses.
Budget Help:
7. Pay Off Debt Quickly
The amount that you pay interest on debt is absolutely absurd.
Unfortunately, that is how many of these companies make their money is from the interest you pay on debt.
If you are paying 5% to even 20-21% or higher, you need to find ways to lower that debt quickly.
Here’s a debt calculator to help you. Figure out your debt-free date.
Make that paying off debt fast is your target and main focus. I can tell you from personal experience, that it was not until we paid off our debt that we finally rounded the corner financially. Once our debt was paid off, we could finally be able to save money and set money aside in separate bank accounts and pay for cash for things.
It took us working hard to pay off debt. We needed persistence and patience while we had setbacks in our debt-free journey.
Jobs that Pay $40 an Hour
You can find plenty of jobs that pay $40 per hour. Polish up that resume, cover letter, and interview skills.
Job Search Hint: Always send a written follow-up thank you note for your interview. That will help you get noticed and remembered.
First, look at the cities that require a minimum wage in their cities. That is the best place to start to find jobs that are going to pay higher than the federal minimum wage rate. Many of the cities are moving towards this model so, target and look for jobs in those areas.
Possible Ideas:
$40 Per Hour Annual Salary
In this post, we detailed 40 an hour is how much a year. Plus all of the variables that can impact your net income. This is something that you can live off.
How much is 40 dollars an hour annually…
$83,200
Up next is making over $95000 per year. In this post, we highlighted ways to increase your income as well as tips for living off your wage.
Use the sample budget as a starting point with your expenses.
You will have to be savvy and wise with your hard-earned income. But, with a plan, anything is possible!
Still thinking I don’t want to work anymore, you aren’t alone and need to start to plan for your early retirement.
Learn exactlyhow much do I make per year…
Know someone else that needs this, too? Then, please share!!
Did the post resonate with you?
More importantly, did I answer the questions you have about this topic? Let me know in the comments if I can help in some other way!
Your comments are not just welcomed; they’re an integral part of our community. Let’s continue the conversation and explore how these ideas align with your journey towards Money Bliss.
Your credit card’s grace period is the length of time that starts at the end of your billing cycle and ends when your payment is due. During this period, you may not have to pay interest on your balance — as long as you pay it off in full by your payment due date.
While a lot of credit cards have a grace period, not all of them do. Here’s a look at how grace periods on credit cards work and how you can take full advantage of them.
What Is the Grace Period on a Credit Card?
Credit cards allow you to borrow money over the course of a one-month billing cycle, during which you may not need to pay interest. The end of your credit card billing cycle is also called your statement date. That’s when your monthly credit card statement is sent to you in the mail or becomes available online. Credit card payments are due on the payment due date, about three weeks later. The time in between these dates is what’s known as the grace period.
During this time, you won’t be charged any interest on the purchases that you made during the billing cycle. However, because of how credit card payments work, you must pay off your credit card balance in full by your payment due date in order to avoid interest payments. At the very least, you must make your minimum payment, and you’ll then owe interest on whatever balance you carry into the next month.
Recommended: What is a Charge Card
How Credit Card Billing Cycles and Grace Periods Work
Grace periods on credit cards are different from the grace period for other loan products. For example, the grace period for a mortgage lasts about 15 days. If your payment is due on the first of the month, you’d have until mid-month to make your payment before it’s considered late and you’re charged potential late fees.
This is not how credit card grace periods work. The grace period for revolving credit — which is what a credit card is — comes before the payment due date. As such, credit card grace periods don’t protect you from late fees. Rather, they give you a period of time in which you can avoid interest payments.
If you miss the date when credit card payments are due, your payment is considered late. Late payments may trigger penalties, and they can have a negative effect on your credit score if they’re reported to the credit reporting bureaus.
Recommended: When Are Credit Card Payments Due
Limits on Credit Card Grace Periods
Credit card companies are not required to offer their customers a grace period. However, many of them choose to do so.
Federal law requires credit card companies to send you a bill within 21 days of the payment due date, meaning you’ll get at least three weeks’ notice of how much you owe for your previous billing cycle. However, the amount of time you’ll have for your grace period will vary by lender.
Credit card grace periods typically only apply to purchases. That means if you’ve used your credit card for a cash advance, for example, you’ll have to start paying interest on the date of the cash advance transaction.
Recommended: Tips for Using a Credit Card Responsibly
How Long Is the Typical Grace Period for a Credit Card?
Typically, grace periods last at least 21 days and up to 25 days.
You can find out how long your grace period is by checking your cardholder agreement. The length of your grace period should be listed alongside fees and your annual percentage rate (APR). You can also call your credit card company and ask them directly.
Recommended: How to Avoid Interest On a Credit Card
What Types of Transactions Are Eligible for Credit Card Grace Periods?
As mentioned above, generally only purchase transactions are eligible for the credit card grace period. Cash advances — which allow you to borrow a certain amount of money against your line of credit — typically are not eligible. They will start accruing interest the day you make the transaction.
Similarly, if you transfer a balance from one credit card to another, you’ll start to accrue interest on that balance immediately. The only exception is if you have a balance transfer credit card with a 0% introductory rate for a period of time. If you pay off the balance during that period, you won’t owe interest. However, interest will accrue on whatever remains of your balance at the end of that period.
Taking Maximum Advantage of Your Credit Card’s Grace Period
If you pay off your credit card bill in full each month, you’ll avoid paying interest. Even carrying a small balance will disrupt your grace periods. If you do, you’ll owe interest on the remaining amount, and all of the new purchases that you make in the next billing cycle will accrue interest immediately as well.
To take full advantage of your credit card’s grace period, plan your purchases accordingly to ensure you’re able to pay your bills in full and on time. For example, if you’re going to make a large purchase, you may want to do so close to the first day of your billing cycle. That way, you’ll have the full cycle (about four weeks), plus your grace period (about three weeks), to pay off your purchase without owing any interest.
Can You Lose Your Credit Card’s Grace Period?
It is possible to lose your credit card grace period if you don’t make on-time payments in full each month by the payment due date. If you lose your grace period, you’ll be charged interest on the remaining portion of your balance. In the new billing cycle, you’ll also owe interest on any new purchases on the day the transaction takes place. This can lead to you falling into a debt cycle, which isn’t easy to get out of (here’s what happens to credit card debt when you die).
Luckily, issuers usually restore grace periods once you’ve paid your outstanding balance and are back to making full on-time payments for a month or two.
Recommended: Can You Buy Crypto With a Credit Card
The Takeaway
Your credit card grace period is an important tool that can save you money on interest if you pay off your balance in full each month. If you don’t pay your balance in full each month, you could lose this privilege temporarily. As such, you’d end up owing interest on your previous remaining balance and any new purchases.
In addition to a grace period, the SoFi credit card offers other features to help you manage your finances. This includes 2% unlimited cash back rewards when redeemed to save, invest, or pay down eligible SoFi debt. Cardholders earn 1% cash back rewards when redeemed for a statement credit.1 Plus, you can secure a lower APR by making 12 on-time monthly payments of at least the minimum amount due.
The SoFi Credit Card offers unlimited 2% cash back on all eligible purchases. There are no spending categories or reward caps to worry about.1
Take advantage of this offer by applying for a SoFi credit card today.
FAQ
What is the grace period for credit card payments after the due date?
Credit card grace periods occur before the payment due date. Payments made after that date are considered late. After the due date, cardholders will owe interest on their balance. Further, they may lose their grace period until they can pay their balance off in full for one or two months.
What happens if you are one day late on a credit card payment?
Being one day late on a credit card payment can still trigger late fees, interest, and potentially the loss of your grace period. Late payments may also be reported to the credit reporting bureaus, which can have a negative impact on your credit score.
What is the typical grace period for a credit card?
Federal law requires that credit card companies provide your bill at least 21 days before your next payment due date. The length of the grace period can vary depending on the credit card issuer, though they typically last 21 to 25 days.
Photo credit: iStock/Moyo Studio
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
Disclaimer: Many factors affect your credit scores and the interest rates you may receive. SoFi is not a Credit Repair Organization as defined under federal or state law, including the Credit Repair Organizations Act. SoFi does not provide “credit repair” services or advice or assistance regarding “rebuilding” or “improving” your credit record, credit history, or credit rating. For details, see the FTC’s website .
The SoFi Credit Card is issued by SoFi Bank, N.A. pursuant to license by Mastercard® International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.
1See Rewards Details at SoFi.com/card/rewards.
1Members earn 2 rewards points for every dollar spent on purchases. No rewards points will be earned with respect to reversed transactions, returned purchases, or other similar transactions. When you elect to redeem rewards points into your SoFi Checking or Savings account, SoFi Money® account, SoFi Active Invest account, SoFi Credit Card account, or SoFi Personal, Private Student, or Student Loan Refinance, your rewards points will redeem at a rate of 1 cent per every point. For more details please visit the Rewards page. Brokerage and Active investing products offered through SoFi Securities LLC, member FINRA/SIPC. SoFi Securities LLC is an affiliate of SoFi Bank, N.A.
Bonds made it almost all week putting on a superhuman display of immunity to bad news, but Friday’s jobs report was the kryptonite. Whether or not a trader has any criticism for volatility in the payrolls data, they still agreed on the move with 10yr yields up nearly 15bps by the close. MBS outperformed nicely, as we were hoping they would, thus limiting the worst possible rate sheet outcomes. In fact, we’re ending the week in better shape than the last and thoughts have already turned toward next week’s bigger ticket events (CPI on Tuesday and the Fed on Wed). And yes, this is a “dots” meeting for the Fed…
Nonfarm Payrolls
272k vs 180k f’cast, 175k prev
Unemployment Rate
4.0 vs 3.9 f’cast, 3.9 prev
08:36 AM
Much weaker after jobs data. 10yr up 13.7 bps at 4.425. MBS down more than half a point.
11:12 AM
Holding AM losses uneventfully after modest bounce. 10yr up 12.9bps at 4.417 and MBS down 3/8ths.
01:50 PM
Still very little movement relative to AM losses. MBS down 13 ticks (.41) and 10yr up 13.7bps at 4.425
03:43 PM
Stick a fork in the bond market. It’s done for this week and nothing interesting happened today after the first few minutes following NFP. Trading levels right in line with the last update… still
Download our mobile app to get alerts for MBS Commentary and streaming MBS and Treasury prices.
After last week’s jobs week, everything gets more intriguing as each month passes. The labor market has gotten softer but hasn’t broken yet. As we approach the midway point of the year, let’s examine last week’s data.
10-year yield and mortgage rates
Last week, the labor data, a vital driver of the 10-year yield and mortgage rates, significantly influenced the market. After reaching a critical level on the low end, the 10-year yield experienced a reversal as the labor report on Friday not only surpassed estimates but also revealed robust wage growth data, pushing yields higher.
I did an in-depth analysis of Jobs Week, complete with charts, discussing the labor market’s softening trend. Still, the labor market hasn’t broken yet. Our upcoming HousingWire Daily podcast will delve into these reports with even more detail, providing a comprehensive understanding of the market dynamics between the labor market and mortgage rates.
The chart below shows the 10-year yield right before the jobs report; once the labor report came, yields shot up and closed the week at 4.43%.
Mortgage spreads
The spread between the 30-year mortgage rate and the 10-year yield has been an issue since 2022, and in 2023, things got worse after the March 2023 banking crisis. However, a positive story for 2024 is that the spreads are better this year than last year.
If we took the worst levels of the spreads from 2023 and incorporated those today, mortgage rates would be 0.48% higher. So, things could be worse on the mortgage rate front this year. However, if spreads get back into a normal range, mortgage rates would be 0.75%-1.00% lower today without any movement lower on the 10-year yield.
Purchase application data
The seasonality of purchase application data is over, as volume typically starts to fall after May. However, we always keep track of this data line because if rates fall like they did late in 2022 and 2023, we need to keep track of the weekly data.
Since November 2023, when mortgage rates started to fall, we have had 12 positive prints versus 13 negative prints and two flat prints week-to-week. Once mortgage rates began rising in 2024, some demand was removed. As shown below, the year-to-date data isn’t even positive for 2024: we’ve had six positive prints, 13 negative prints, and two flat prints. As we can see, we aren’t getting any real mortgage demand growth with rates this high and the bounces we see in the data are coming from depressed levels.
Weekly housing inventory data
I can’t stress enough that the best story for 2024 has been that active inventory and new listing data is growing. We desperately needed to get off these record lows in inventory and create a buffer for breathing room when rates fall. While inventory didn’t hit my target growth number again, the fact that we have hit that level three times this year is a plus. If mortgage rates are high — 7.25% or higher — we should get some weekly inventory growth between 11,000 and 17,000. This week, we only hit 6,674.
Weekly inventory change (May 31-June 7): Inventory rose from 604,922 to 611,596
The same week last year (June 2-June 9), Inventory rose from 437,007 to 443,749
The all-time inventory bottom was in 2022 at 240,194
This week is the inventory peak for 2024 at 611,596
For some context, active listings for this week in 2015 were 1,165,714
New listings data
New listings had their traditional rebound after the Memorial Day weekend decline, which isn’t shocking. However, the real story is that we see year-over-year growth, which is a plus. It doesn’t look like I will reach my assumed easy target of 80,000 new listings. I had hoped we could even get above 95,000 this year, something that was more common in the past decade, but I am simply running out of time before the seasonal decline of new listings. Here are the new listings for last week over the last several years:
2024 72,061
2023: 63,001
2022: 85,068
Price-cut percentage
In an average year, one-third of all homes take a price cut — this is standard housing activity. When mortgage rates increase, demand falls and the price-cut percentage grows. When rates drop and demand improves, the price-cut percentage can fall. This data line is very seasonal, and we have seen consistent year-over-year price-cut percentage growth since the end of March.
This is one of the reasons we will see a cooling in home prices from the start of the year. I recently discussed this in the HousingWire Daily podcast and explained why I believe this is the case. Here are the price cut percentages for last week over the previous few years:
2024: 36%
2023: 31%
2022: 26%
Pending sales
One of the new data lines we will start incorporating in the tracker is Altos’ pending contract data — this will give people a better idea of how future sales will go. Below, you can see that the weekly pending contracts data has shown slight year-over-year growth, which aligns with the year-over-year increase in the new listing data. These are the pending home sales for last week over the past several years:
2024: 393,636
2023: 380,231
2022: 455,678
The week ahead: Inflation and Fed Week!
Last week we had a crazy jobs week and now we are going straight into the fire with CPI inflation and Fed meetings on Wednesday. We also have a few bond auctions happening this week with the PPI inflation report. So, there is no rest for anyone, as the coming week can make mortgage rates more volatile.
Editorial Note: Blueprint may earn a commission from affiliate partner links featured here on our site. This commission does not influence our editors’ opinions or evaluations. Please view our full advertiser disclosure policy.
The average rate on a 30-year fixed mortgage is 7.38%, and on a 15-year fixed-rate mortgage, it’s 6.59%. The average rate on a 30-year jumbo mortgage is 7.40%.
*Data accurate as of June 6, 2024, the latest data available.
30-year fixed mortgage rates
The average mortgage rate for 30-year fixed loans stayed the same today to 7.38% from 7.38% last week, according to data from Curinos. This is down from last month’s 7.55% and up from a year ago when it was 7.22%.
At the current 30-year fixed rate, you’ll pay about $690 each month for every $100,000 you borrow — about the same as last week.
Ready to buy? Compare the best mortgage lenders.
15-year fixed mortgage rates
The mortgage rates for 15-year fixed loans stayed the same today to 6.59% from 6.59% last week. Today’s rate is down from last month’s 6.73% and up from a year ago when it was 6.37%.
At the current 15-year fixed rate, you’ll pay about $874 each month for every $100,000 you borrow, down from about $890 last week.
30-year jumbo mortgage rates
The mortgage rates for 30-year jumbo loans fell today to 7.40% from 7.46% last week. This is down from last month’s 7.46% and up from 6.92% last year.
At the current 30-year jumbo rate, you’ll pay around $691 each month for every $100,000 you borrow, down from about $704 last week.
Methodology
To determine average mortgage rates, Curinos uses a standardized set of parameters. For conventional mortgages, the calculations are based on an owner-occupied, one-unit property with a loan amount of $350,000. For jumbo mortgages, the loan amount is $766,550. These calculations assume an 80% loan-to-value ratio, a credit score of 740 or higher and a 60-day lock period.
Frequently asked questions (FAQs)
Mortgage rates are determined by a variety of factors, including the overall economy, inflation and the actions of the Federal Reserve. Mortgage lenders then set their loan rates based on these economic elements.
The rate you’re offered on a mortgage will also depend not only on the lender but also on your credit score, income, debt-to-income (DTI) ratio and other parts of your financial profile.
If you opt for a rate lock, you can typically do so for 30 to 60 days, depending on the lender. In some cases, you might be able to lock in your rate for up to 120 days.
Keep in mind that while some lenders allow you to lock in a mortgage rate for free, you’ll likely have to pay a fee for a longer lock period. This fee generally ranges from 0.25% to 0.5% of your loan amount. You could also be charged a fee if you want to extend the lock period — usually 0.375% of the loan amount.
There are several strategies that could help you qualify for the best mortgage rate, such as:
Checking your credit: When you apply for a mortgage, the lender will review your credit to determine your creditworthiness as well as your interest rate. In general, the higher your credit score, the lower your rate will be. So before you apply, it’s a good idea to check your credit to see where you stand. If you find any errors in your credit report, dispute them with the appropriate credit bureau to potentially boost your score.
Comparing lenders: Taking the time to shop around and compare your options from as many lenders as possible can help you find the best deal. In addition to rates, make sure to also consider each lender’s terms, fees and eligibility requirements.
Improving your credit score: If you have less-than-perfect credit and can wait to apply for a mortgage, it could be worth working to improve your credit beforehand to qualify for better rates in the future. Some possible ways to boost your credit include paying all of your bills on time and aiming to keep your credit utilization (the amount of credit you’ve used compared to your credit limits) on credit cards and lines of credit at 30% or less.
Reducing debt: Paying down debt could help lower your DTI ratio, which is how much you owe in monthly debt payments compared to your income. Having a lower DTI ratio can make you look like less of a risk in the eyes of a lender, which can result in a lower rate.
Choosing a shorter repayment term: Lenders typically offer lower rates to borrowers who opt for shorter terms. For example, you’ll likely get a lower rate on a 15-year mortgage compared to a 30-year loan.
Blueprint is an independent publisher and comparison service, not an investment advisor. The information provided is for educational purposes only and we encourage you to seek personalized advice from qualified professionals regarding specific financial decisions. Past performance is not indicative of future results.
Blueprint has an advertiser disclosure policy. The opinions, analyses, reviews or recommendations expressed in this article are those of the Blueprint editorial staff alone. Blueprint adheres to strict editorial integrity standards. The information is accurate as of the publish date, but always check the provider’s website for the most current information.
Jamie Young is Lead Editor of loans and mortgages at USA TODAY Blueprint. She has been writing and editing professionally for 12 years. Previously, she worked for Forbes Advisor, Credible, LendingTree, Student Loan Hero, and GOBankingRates. Her work has also appeared on some of the best-known media outlets including Yahoo, Fox Business, Time, CBS News, AOL, MSN, and more. Jamie is passionate about finance, technology, and the Oxford comma. In her free time, she likes to game, play with her two crazy cats (Detective Snoop and his girl Friday), and try to keep up with her ever-growing plant collection.
Megan Horner is editorial director at USA TODAY Blueprint. She has over 10 years of experience in online publishing, mostly focused on credit cards and banking. Previously, she was the head of publishing at Finder.com where she led the team to publish personal finance content on credit cards, banking, loans, mortgages and more. Prior to that, she was an editor at Credit Karma. Megan has been featured in CreditCards.com, American Banker, Lifehacker and news broadcasts across the country. She has a bachelor’s degree in English and editing.
Ashley Harrison is a USA TODAY Blueprint loans and mortgages deputy editor who has worked in the online finance space since 2017. She’s passionate about creating helpful content that makes complicated financial topics easy to understand. She has previously worked at Forbes Advisor, Credible, LendingTree and Student Loan Hero. Her work has appeared on Fox Business and Yahoo. Ashley is also an artist and massive horror fan who had her short story “The Box” produced by the award-winning NoSleep Podcast. In her free time, she likes to draw, play video games, and hang out with her black cats, Salem and Binx.