However, Lewis noted conflicting economic signals raise the possibility that “this could be a short-lived upward blip” for mortgage rates. The rate hike weighed on mortgage demand last week, with total mortgage application volume falling 5.7%, according to the Mortgage Bankers Association. “The uptick in rates led to a decline in mortgage applications heading into … [Read more…]
The average for a 30-year fixed-mortgage is 7.17% today, up 0.14% compared to one week ago. The average rate for a 15-year fixed mortgage is 6.62%, which is an increase of 0.20% from the same time last week. For a look at mortgage rate movement, see the chart below.
Because inflation data hasn’t been improving, the Federal Reserve has been delaying rate cuts. Though mortgage rates could still go down later in the year, housing market predictions change regularly in response to economic data, geopolitical events and more.
Today’s average mortgage rates
Today’s average mortgage rates on Jun. 04, 2024, compared with one week ago. We use rate data collected by Bankrate as reported by lenders across the US.
When mortgage rates start to fall, be ready to take advantage. Experts recommend shopping around and comparing multiple offers to get the lowest rate. Enter your information here to get a custom quote from one of CNET’s partner lenders.
About these rates: Like CNET, Bankrate is owned by Red Ventures. This tool features partner rates from lenders that you can use when comparing multiple mortgage rates.
Which mortgage term and type should I pick?
Each mortgage has a loan term, or payment schedule. The most common mortgage terms are 15 and 30 years, although 10-, 20- and 40-year mortgages also exist. With a fixed-rate mortgage, the interest rate is set for the duration of the loan, offering stability. With an adjustable-rate mortgage, the interest rate is only fixed for a certain amount of time (commonly five, seven or 10 years), after which the rate adjusts annually based on the market. Fixed-rate mortgages are a better option if you plan to live in a home in the long term, but adjustable-rate mortgages may offer lower interest rates upfront.
30-year fixed-rate mortgages
For a 30-year, fixed-rate mortgage, the average rate you’ll pay is 7.17% today. A 30-year fixed mortgage is the most common loan term. It will often have a higher interest rate than a 15-year mortgage, but you’ll have a lower monthly payment.
15-year fixed-rate mortgages
Today, the average rate for a 15-year, fixed mortgage is 6.62%. Though you’ll have a bigger monthly payment than a 30-year fixed mortgage, a 15-year loan usually comes with a lower interest rate, allowing you to pay less interest in the long run and pay off your mortgage sooner.
5/1 adjustable-rate mortgages
A 5/1 adjustable-rate mortgage has an average rate of 6.34% today. You’ll typically get a lower introductory interest rate with a 5/1 ARM in the first five years of the mortgage. But you could pay more after that period, depending on how the rate adjusts annually. If you plan to sell or refinance your house within five years, an ARM could be a good option.
Are mortgage rates considered high right now?
Over the last few years, high inflation and the Federal Reserve’s aggressive interest rate hikes pushed up mortgage rates from their record lows around the pandemic. Since last summer, the Fed has consistently kept the federal funds rate at 5.25% to 5.5%. Though the central bank doesn’t directly set the rates for mortgages, a high federal funds rate makes borrowing more expensive, including for home loans.
Mortgage rates change daily, but average rates have been moving between 6.5% and 7.5% since late last fall. Today’s homebuyers have less room in their budget to afford the cost of a home due to elevated mortgage rates and steep home prices. Limited housing inventory and low wage growth are also contributing to the affordability crisis and keeping mortgage demand down.
Will mortgage rates go down this year?
Most housing market experts predict rates will end the year between 6% and 6.5%. Ultimately, a more affordable mortgage market will depend on how quickly the Fed begins cutting interest rates. The central bank could start lowering interest rates in the fall, but it will depend on how the economy fares in the coming months.
Mortgage rates fluctuate for many reasons: supply, demand, inflation, monetary policy, jobs data and market expectations. Homebuyers won’t see lower rates overnight, and it’s unlikely there will ever be a return to the 2-3% mortgage rates we saw between 2000 and early 2022.
“We are expecting mortgage rates to fall to around 6.5% by the end of this year, but there’s still a lot of volatility I think we might see,” said Daryl Fairweather, chief economist at Redfin.
Every month brings a new set of inflation and labor data that can influence the direction of mortgage rates, said Odeta Kushi, deputy chief economist at First American Financial Corporation. “Ongoing inflation deceleration, a slowing economy and even geopolitical uncertainty can contribute to lower mortgage rates. On the other hand, data that signals upside risk to inflation may result in higher rates,” Kushi said.
Here’s a look at where some major housing authorities expect average mortgage rates to land.
Calculate your monthly mortgage payment
Getting a mortgage should always depend on your financial situation and long-term goals. The most important thing is to make a budget and try to stay within your means. CNET’s mortgage calculator below can help homebuyers prepare for monthly mortgage payments.
What are some tips for finding the best mortgage rates?
Though mortgage rates and home prices are high, the housing market won’t be unaffordable forever. It’s always a good time to save for a down payment and improve your credit score to help you secure a competitive mortgage rate when the time is right.
Save for a bigger down payment: Though a 20% down payment isn’t required, a larger upfront payment means taking out a smaller mortgage, which will help you save in interest.
Boost your credit score: You can qualify for a conventional mortgage with a 620 credit score, but a higher score of at least 740 will get you better rates.
Pay off debt: Experts recommend a debt-to-income ratio of 36% or less to help you qualify for the best rates. Not carrying other debt will put you in a better position to handle your monthly payments.
Research loans and assistance: Government-sponsored loans have more flexible borrowing requirements than conventional loans. Some government-sponsored or private programs can also help with your down payment and closing costs.
Shop around for lenders: Researching and comparing multiple loan offers from different lenders can help you secure the lowest mortgage rate for your situation.
The most simple use for the KRUBBET is to put it on your living room island or side table to designate a place for your phone while it’s not being used so it never gets misplaced. You could also use it to decorate your nightstand, where it would become the ideal holder for your phone while you drift off to sleep. However, this item can also come in handy anytime you’re using your phone but can’t just hold it. For instance, you could keep it in the kitchen for when you’re cooking and need to reference an online recipe. Or, if you use multiple devices while working from home, place the stand on your desk in your office, where it can always be propped up and in view.
In your craft room, while your hands are busy molding sculptures, sewing throw pillows, or painting artwork, your phone could have a place to sit beside you. Perhaps you like to follow makeup tutorials while getting ready in the morning, in which case the KRUBBET could be a perfect addition to your bathroom vanity. Since it’s made out of powder-coated steel, it can be exposed to moisture without getting damaged. While enjoying a meal in the dining room or at the kitchen island, if you want some entertainment, use the KRUBBET to hold up your device so you can watch a YouTube video or TV show while eating.
With its picturesque waterfront, cobblestone streets, and colonial architecture, Annapolis exudes a unique charm that captivates residents and visitors alike. The city’s prominent feature is its rich maritime heritage, evident in the bustling harbor and the prestigious United States Naval Academy. Considerations for residents include the high cost of living, but the city’s strong sense of community and abundance of cultural attractions make it a worthwhile place to call home. So whether you’re searching for the perfect apartment in the heart of downtown Annapolis or eyeing a cozy rental home in the surrounding neighborhoods, you’ve come to the right place.
In this Apartment Guide article, we’ll cut to the chase, breaking down the pros and cons of moving to Annapolis. Let’s get started and see what awaits in this historic and vibrant city.
Pros of living in Annapolis, MD
1. Rich maritime history
Annapolis is steeped in maritime history, offering residents a unique opportunity to immerse themselves in the city’s nautical culture. The city is home to the United States Naval Academy, where visitors can explore the campus and learn about the rich naval traditions. The Annapolis Maritime Museum provides a fascinating insight into the Chesapeake Bay’s history and ecology, while the annual Annapolis Boat Shows attract boating enthusiasts from around the world.
2. Charming historic district
The historic district of Annapolis is a picturesque area filled with cobblestone streets, colonial-era buildings, and charming waterfront views. Residents can enjoy strolling along Main Street, lined with boutique shops, art galleries, and cozy cafes. The area’s rich architectural heritage and well-preserved landmarks offer a delightful glimpse into Annapolis’s storied past.
3. Vibrant arts and culture scene
Annapolis boasts a vibrant arts and culture scene, with numerous galleries, theaters, and performance spaces showcasing local talent. The Maryland Hall for the Creative Arts hosts a diverse range of events, from art exhibitions to live music performances, while the Annapolis Symphony Orchestra enchants audiences with world-class classical music. The city’s creative energy and artistic expression contribute to its dynamic and engaging atmosphere.
4. Scenic waterfront views
Living in Annapolis means being surrounded by breathtaking waterfront views, thanks to its prime location on the Chesapeake Bay. Residents can enjoy leisurely walks along the City Dock, take boat tours to explore the bay’s natural beauty, or simply relax and soak in the serene coastal ambiance. The city’s proximity to the water offers a tranquil and idyllic setting for those seeking a peaceful lifestyle.
5. Culinary delights
Annapolis is a haven for food enthusiasts, with a diverse culinary scene that caters to all tastes and preferences. From fresh seafood at waterfront restaurants to innovative farm-to-table eateries, the city offers a delectable array of dining options. The annual Annapolis Restaurant Week and Maryland Seafood Festival are just a few examples of the city’s commitment to celebrating its gastronomic heritage.
6. Close-knit community
Residents of Annapolis benefit from a close-knit community that fosters a strong sense of belonging and camaraderie. The city’s numerous neighborhood associations and community events create opportunities for residents to connect and engage with their neighbors, contributing to a warm and welcoming environment.
7. Access to outdoor recreation
Annapolis provides ample opportunities for outdoor recreation, with its proximity to the Chesapeake Bay and surrounding natural landscapes. Residents can enjoy sailing, kayaking, and paddleboarding on the bay, as well as hiking and biking along scenic trails. The city’s commitment to preserving green spaces ensures that nature enthusiasts have plenty of options for outdoor adventures.
Cons of living in Annapolis, MD
1. High cost of living
One of the drawbacks of living in Annapolis is the relatively high cost of living compared to other cities in Maryland. The average rent in Annapolis is $2,096, much higher than the $1,450 average rent in nearby Baltimore. Housing prices, utilities, and everyday expenses can be on the higher side, making it challenging for some residents to afford the lifestyle they desire.
2. Limited public transportation options
While Annapolis offers some public transportation services, such as buses and shuttles, the options are relatively limited compared to larger metropolitan areas. Residents who rely on public transit may find it challenging to access certain parts of the city or commute to neighboring areas efficiently.
3. Seasonal weather extremes
Annapolis experiences seasonal weather extremes, with hot and humid summers and cold winters. The city’s proximity to the Chesapeake Bay can also lead to occasional severe weather events, such as storms and flooding, which may pose challenges for residents and require proactive preparation.
4. Limited job market
While Annapolis offers employment opportunities in various sectors, the job market may be more limited compared to larger cities. Residents seeking specific career paths or industries may find it necessary to commute to nearby metropolitan areas for a wider range of job prospects.
5. Tourist influx
As a popular tourist destination, Annapolis experiences an influx of visitors throughout the year, particularly during peak seasons and special events. Events related to the U.S. Naval Academy are large draws for the town. While tourism contributes to the city’s vibrant atmosphere, residents may encounter crowded public spaces and increased activity in certain areas, impacting their daily routines.
6. Limited nightlife options
For residents seeking a bustling nightlife scene, Annapolis may offer fewer options compared to larger cities. While the city has a variety of bars, pubs, and live music venues, the nightlife may not be as extensive or diverse as in metropolitan areas, leading to a more subdued evening entertainment experience.
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“What’s the first thing that comes to mind when thinking of how you can improve your financial situation?”
Many people would say “spend less money.”
One way to do this is by buying something used. In fact, a study found that Americans buy 10% more new items than they did in 2008 because we have so many promotional offers available. Not only should you be trying to save some money on your purchases, but also cut all kinds of other expenses from your lifestyle and keep them at a minimum.
Usually, people spend more money than they need.
This can lead them to have less money saved or be able to afford the things they want.
However, with a few simple changes in your spending habits, you will be able to make more of what you earn and feel more satisfied.
In today’s world, it is easy to be overwhelmed by the amount of information available on how you should spend your money.
With more and more people struggling with their finances, I would like to share a few hacks that have helped me spend money wisely and simplify my life.
Also, I am going to include some simple money saving tips on how to spend less money! Do not get duped into buying things you did not plan on purchasing or spending more money than you needed to.
How to Spend Money Wisely
As you can see shortly, there are many ways to spend money wisely. Whether it be through saving, investing, or taking care of your health; with this article as a guide, you won’t have to worry about your money any longer.
This is meant to inspire people on how they can better manage their finances and live more efficiently, while still being able to get the things that they want.
Spending money wisely is a way of life, but it can be tough to know where exactly you should start.
Luckily for you, we will break down ten hacks for you to follow so that your money does not go to waste.
1. Pay Yourself First
You are probably wondering, why is saving money about how to spend money.
The first thing you should do to spend money wisely is to pay yourself first.
This could be saving for the future with an emergency fund, which can be used in case of emergencies or downturns in your financial situation. This can be done by contributing to a high-interest savings account and saving up to $1,000 or more for emergencies.
Or choose one of our money saving challenges to match your financial goals.
2. Take Care of You
You need to take care of your health, as that will improve the quality and longevity of your life.
Making wise choices on choosing quality food and healthcare may cost more money upfront, but in the long run, it will save you money on huge medical expenses.
You spend your money wisely by taking care of your health. Money spent on a gym membership, healthy food, and other medical expenses can save you even more money in the long run.
Many people love the idea of time freedom for this reason.
3. Invest in Your Future
One way to spend money wisely is by investing in your future. This might be done through a 401(k) or Roth IRA, which lets you invest pre-tax dollars and then withdraw them tax-free once you retire.
This can be a great way to save on taxes, but the money needs to stay invested for at least five years before you’re able to withdraw it without a penalty.
4. Choose Experiences
We live in a society that prizes material purchases and spending. Remember to prioritize experiences by getting outside. Not just for your health, but also on the mental and emotional levels, as well as the personal and even family levels.
Also, a plethora of benefits to spending money on experiences, not all materialism related.
Try to spend less on electronics and materialistic items that fill your home and more on experiences like travel or going out with friends.
This is a great way to spend time with your family and friends instead of buying things for them.
Related Reading: Overcome Gift Regret: Experience Gift Ideas That Do Not Go To Waste
5. Set Goals
Many of us, regardless of financial status, know that if we want to live on the right path without having our finances stress us out, then there are good habits to be followed.
Think about how much money you want to make in the next five years or ten years and make up how to get there.
Now, you need to line up your spending to make that happen.
Not sure how to set goals? Start here with making smart financial goals.
6. Budget
The next hack is to make a budget and stick to it, which will help you spend your money wisely by only spending what you have available in each category.
A budgeting strategy helps you develop better financial skills. These strategies are practiced in order to help prevent overspending and create a set spending plan for you.
Create a budget that includes all your expenses and then each time you get paid, put a little bit of your paycheck into each category.
7. Evaluate Your Spending
Oftentimes, we find ourselves buying items that are not necessary and just a waste of money. This hack is to evaluate what you’re spending your money on and think about whether or not you want to continue this habit.
For every purchase ask yourself if the item is worth it and what will happen if you don’t buy it.
By completing a no spend challenge, you will be amazed at the things you find out are not worth spending the money on.
8. Likeminded People
Next, you should try to spend less time with people who are going to make you feel bad about yourself.
This is a hard one but just think of the good things that will happen when you stop hanging out with people who make you feel bad.
If you are constantly around people you need to learn how to not spend money, then you will be battling upstream battle. Look for those who have the same mindset and are determined to spend money wisely.
9. Spend on Quality Over Quantity
The best way to buy quality items is to spend more money on them. Buying cheaper items has its risks, but over time it will lead to dissatisfaction with the product and waste of money.
If possible try to spend money on things that will last a long time and not just stuff like food or rent.
This concept of quality of quantity is not difficult to understand. For example, instead of owning 10 pairs of jeans that you think you need, you spend money on the two pairs of quality jeans that you love.
Because items are so cheap to pick up, it is easy to quickly fill our homes with quantity and excess stuff (plus we are spending more in the process). Instead, spend a little more and buy less of what you truly need or want.
10. Eat at Home
One way to save money is by cooking more at home and not going out to eat. You can also cut down on the amount of food you purchase, which will help you save a ton of money in the long run.
Instead of buying food that will go bad quickly or ruin your health, buy more expensive food. This way you are spending less money on the product but it is going to last longer and be better for you.
By spending money wisely, you must learn how to spend less money on food.
11. Use Tax-Advantaged Accounts
Specifically, I am talking about FSA or HSA, or dependent care FSA. This is when you set aside money each year for these purposes. Money goes into these accounts tax-free, so you are lowering your taxable income.
On how to spend FSA money, you must have the proper documentation on your plan. The same is true for how to spend HSA money.
The limits change each year on how much you can contribute to each of these plans, but the maximum you can spend tax-free is over $20,000 for a family.
This is a great trick to spend money wisely and lower the amount you owe in taxes. Just make sure to spend the amounts in the FSA each year!
12. Spend on things that add happiness to life
Personally, I have a hard time spending money. Period. This is something I am working on as we progress through our financial journey. Now, I look to spend money on ways that will improve our life or bring smiles to our faces.
Spend on things that add happiness to your life.
For example, if you’re happy with the new shoes you’ve just bought, then it’s worth spending money on them! If you love to travel, spend on travel. If you like reading fiction novels, spend on fiction novels.
Spend your money on things you enjoy and make the most of the disposable income you have.
How to Spend Money to Make Money
One of the best ways to make money is to give back. However, it takes some money to make money, which is typically frustrating to those who constantly want to make more money per year.
By selling a product or service, you are supplying them with your knowledge, advice, and understanding. Another way is through investments. Investing, while not always profitable, has companies that adhere to companies of all kinds.
One of the best ways to spend money wisely is to invest in ways to make money.
There are plenty of ways to make money and start your own business.
Here is a great book to open you up to the idea of starting your own business and the freedom with money it can bring.
Here are great ways to make money on the side:
It is possible to make more money on your business than you make more money in your current job or career.
How to Spend Less Money
Many of us spend too much on material items that are not actively used. This creates a situation where we have to make more purchases in order to get the same level of happiness.
The first step towards becoming frugal is deciding what you want out of your possessions, and then only buying those things which will provide you with this goal.
Here are 32 easy ways to do that!
Shop at Discount Stores: You don’t have to go all out with your shopping if you’re looking for a way to save some money. There are plenty of stores that offer great deals and you can still find some really cute clothes.
Find Online Deals: You can find deals online for just about anything. This is a great way to get the deals that you might not know about. There are so many websites out there dedicated to helping you find the best deals and coupons.
Save Money on Your Cell Phone Bill: Just because the cell phone companies want to charge an arm and a leg for service doesn’t mean you have to. There are plenty of options out there where you can find great deals on your cell phone bill without having to break the bank.
Call and Cancel Unnecessary Services: Do you really need to subscribe to cable? How about getting rid of your gym membership because you know that all the exercise won’t do anything for your weight. The truth is you don’t need a lot of these things that are costing you money. Also, try a free service like Trim or Billshark.
Buy Generic Items: Do your shopping at the grocery store and buy generic items instead of brand names for most of your purchases.
Buy in Bulk: Buy items like toilet paper, cleaning supplies, and other things in bulk to save on the cost of each individual item. This is more so for families who can buy food in bulk.
Start Couponing: This is a great way to save money. I know it’s not the most enticing offer, but if you’re looking to save money then coupons can be your best friend. You can go online and find coupons for items that are on sale at your favorite store or you can get them in the Sunday paper.
Use Public Transportation: This is a great way to save on gas and wear and tear on your car.
Get Rid of the Car: If you live in an urban area, it might be worth getting rid of the car and using public transportation or just walking instead. Or become a single-car family.
Carpooling: One of the biggest hacks that many people are unaware of is carpooling- which can save up to $1,000 per year.
Rent Things: Whether it is a video, movie, or power tools to complete a project, renting will save you money.
Use Less Electricity: Turning off lights and other electronics when they are not in use can really help!
Eat Spaghetti: Eating pasta saves money and reduces your grocery bill.
Use the Library: If you like to read, the library might be another alternative to buying books.
Borrow Books: Borrowing books from the library or your friends is a great way to read for free!
Use Online Promo Codes: Using promo codes or coupon codes on all of your online purchases will make a huge difference. Here is a great place to find promo codes and get money back on your purchases.
Eat Out Less Often: Eating out less can save money!
Eat Less Meat: Eating less meat will save on your grocery bill! There are so many wonderful delish meals made with beans!
Buy Used: If you must buy something but don’t want to spend much, consider buying used versions of the items you need. Buying used products will save money and help the environment.
Share with Friends: Sharing your belongings, like clothes or toys, can save you money.
Ask for Help: When someone offers to help you do something it’s only polite to take them up on it.
Find Used Clothing: Buying clothing used can save you a lot of money and help the environment!
Downsize Your Hobby: It’s important to live within your means. If you have an expensive hobby it may be time to scale back on the expense or find a cheaper one.
Need vs Want: Try not to spend money on things that are “needed” but not “wanted.”
Avoid Impulse Spending: Try to plan before you buy anything- think about what you need, the price of items, and if it is worth buying.
Plan Free Activities: Plan outings with friends and family, rather than going to the movies or restaurants alone.
Plan For Expensive Times: Give your friends a heads up before you go out on an expensive outing so they know it’s coming. They may be able to help cover the cost or provide a cheaper alternative. This will help everyone’s budget.
Do Your Research: Research all of your options before you make any purchase- this will allow you to get the best bang for your buck and find the best deals.
Bartering: If you must buy something, but you don’t want to spend much money on it-consider bartering with someone or buying used items instead of new ones (e.g., clothes, furniture).
Know-How You Spend Money: Keep a budget to track your spending and be aware of how much money you have left at the end of the day or week so you can plan accordingly.
Negotiate on Price: If you plan to buy something, don’t tell the retailer how much money you have until after they give their price- this can help save money and time by eliminating any final price negotiations.
Think Before You Spend: Put some thought into your purchases before you make them- this will help you make sure you really want to spend money.
How Much Money Should you Spend?
There is a lot of conflicting information on how much money should be allocated to needs vs. wants, but this takes into account what percentage of take-home pay should be spent on necessities.
Here is the Cents Plan Formula we Use at Money Bliss:
50% to Basic Expenses
20% to Savings
10% to Giving
20% to Fun Spending
0% to Debt
So, the average person should spend 50% of their take-home pay towards needs. That means you must spend your money wisely.
Keep a list of what you spend and how much it cost.
You should have some idea of how much money you are able to spend on what. This will help you decide whether it is worth buying a thing or not before purchasing it.
Use the list to see where you can make adjustments, for example spending more time with your family or finding fun things to do with no money.
Ready to Start Spending Money Wisely?
Spending money wisely can seem complicated at times.
The key to using money wisely is understanding how you spend your cash. Spending tends to happen automatically, which can lead people down the path of overspending and debt if not monitored closely.
The affordability of happiness and satisfaction depends intensely on the money we have.
The activities we could do, and expenses we could cut out, can be often atrocious and insufficient for our expectations.
Extreme dissatisfaction and the whole time earning less than we would desire, we may feel that we need to know how to spend money wisely.
The vital hacks elaborated in this post will help to understand caring for a budget, and changing our habits to spend more wisely.
When spending money wisely, people should be aware of their habits so they can change them in order to save more and spend less on things that do not bring happiness or benefit the person’s life.
If you want to save money, spend it on something that will make your life better or more enjoyable.
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.
Looking for the best seasonal jobs? Seasonal jobs are a great way to make extra money without having to work full-time all year. These jobs are perfect if you’re wanting to work part of the year, if you’re looking to make a part-time income, or if you want to try something a little more adventurous….
Looking for the best seasonal jobs?
Seasonal jobs are a great way to make extra money without having to work full-time all year. These jobs are perfect if you’re wanting to work part of the year, if you’re looking to make a part-time income, or if you want to try something a little more adventurous.
Depending on what you like and what you’re good at, there are many different jobs that can help you earn a good paycheck.
Plus, I know many, many people who work seasonal jobs and make a full-time income, so the money can be great as well.
17 Best Seasonal Jobs
Below are the best seasonal jobs.
1. Camp counselor
One of the most popular seasonal jobs is being a camp counselor. This can include working at a daytime summer camp or even a week- or months-long summer camp.
This seasonal job revolves around creating a safe and enjoyable environment for campers. This involves running different activities such as games, arts and crafts sessions, leading hikes, and sometimes sharing stories around the campfire.
Typically, camp counselor positions are seasonal and tend to be during the summer months and can be either full-time or part-time.
When it comes to qualifications, a love for the outdoors, being good with kids, and having a responsible and caring demeanor are important.
While the pay can vary, camp counselors many times make around $20 an hour.
This is one of the best seasonal jobs for college students because it typically happens when you are off from school, and it may come with housing!
Recommended reading: 29 Best Jobs In Nature To Make Money
2. UPS
If you want a dependable seasonal job, UPS is a popular option.
My husband actually used to work for UPS for many years (as did his brother and many of our friends), and it is a very popular job for many reasons, such as the great health benefits.
UPS has seasonal positions such as being a seasonal driver helper.
During the holiday season, UPS ramps up its workforce, hiring over 100,000 helpers to manage the gift-giving rush. Positions such as driver helper are always needed and you can expect to earn around $20 per hour.
In terms of the work schedule, expect to work 20 to 30 hours per week. Driver helpers are only hired in October, November, and December.
Recommended reading: 15 Part Time Jobs With Health Insurance
3. Tour guide
Becoming a seasonal tour guide could be a way for you to combine work with your love for travel and adventure. It’s a job where you can share your passion with others while exploring new places.
Tour guiding is a job for anyone who loves talking to people and telling stories. You could guide visitors through a busy city, lead nature adventures, show art and history at museums, or organize trips for groups. There’s a tour guide job to match your interests and skills. To do well, you need to know a lot about the place you’re guiding in and have good communication skills.
Regarding earnings, tour guide pay varies widely. On average, hourly wages range from about $15 to $25, with specialized roles potentially earning up to $30 per hour.
4. Gift wrapper
Gift wrapping is a good winter seasonal job, especially if you are good at wrapping gifts!
Working as a gift wrapper during the holiday season is a great way to make extra money. Many stores hire seasonal gift wrappers to help shoppers. Your job would be to wrap presents quickly and nicely.
Gift wrappers usually earn between $14 and $24 an hour, which can help with your holiday budget. One of the best parts is that you don’t need any experience. Many employers will train you on the job to improve your wrapping skills.
You can check out local malls or stores for seasonal jobs. These opportunities are often advertised at larger shopping centers.
5. Raft guide
If you love the outdoors and adventure, becoming a raft guide could be an exciting and rewarding seasonal job. As a raft guide, you’ll guide customers through the river.
This is an outdoors job that typically happens during the summer and fall, so it is a seasonal job that could be a lot of fun in places like Colorado, California, Utah, Oregon, and West Virginia.
You can find seasonal raft guide jobs by contacting raft companies in popular locations to check for job postings. You can also use social media to join groups and follow pages about outdoor jobs, and networking with current and former guides can give you valuable job leads.
6. Retail sales associate
If you want a job that fits around your life and only lasts for a short time, becoming a retail sales associate might be perfect for you. Many stores hire retail associates for seasonal work. This could also be for full-time or part-time jobs.
As a retail sales associate, your job would be to provide customer service and keep the store running smoothly, such as by checking out customers at the cash register.
There are many stores that hire for seasonal cashier jobs, such as Target, Best Buy, Walmart, Home Depot, Michaels, and more.
Plus, you can typically get a discount when working at a store too! I used to work as a retail sales associate and while customer service can be hard, I also made some great friends and had a good time.
7. Landscaping worker
If you enjoy being outdoors and want to make good money during the warmer months, you can become a landscaping worker. These jobs usually come up in the spring and summer when grass, trees, and flowers grow quickly.
Taking care of lawns is a big part of the job, such as mowing grass, trimming edges, and using fertilizers or pesticides to keep lawns looking nice.
Landscaping jobs usually pay between $15 and $25 per hour, and this can vary based on where you work and how much experience you have.
8. Fireworks stand worker
Running a fireworks stand can be a great way to make extra money, especially during busy times like the Fourth of July.
When I was younger, I had many friends who had summer jobs working at fireworks stands, and while the work was hard (long days in the heat!), they did seem to like it.
Your job at the fireworks stand is important but simple. You’ll sell fireworks to customers, keep the stand looking nice, and handle transactions while keeping track of sales.
9. Ski instructor
If you love snow and want to share that love with others, becoming a ski instructor could be a great winter job for you, as ski resorts are typically open from around November through April.
One thing that many people don’t realize is that you don’t need to be an Olympic skier to become a ski instructor – this is something that you can learn how to teach. I’m not saying that it isn’t hard, though, as this is still hard work!
Ski instructors teach people how to ski and they work outside on the slopes, spending their days teaching beginners and helping more experienced skiers get better.
Your pay as a ski instructor depends on where you work and how much experience you have. New instructors might start at around $18 to $25 an hour. Certified instructors can earn more, sometimes up to $50 an hour or more.
You can look for ski instructor jobs by checking the websites of ski resorts, where they often post job openings. You can also attend outdoor job fairs, especially those focused on winter sports, to meet ski resort representatives and learn about job openings. Plus, networking with current and former ski instructors through social media, forums, and industry events can also be helpful.
10. Tax preparer
If you’re good with numbers and like helping others, being a tax preparer could be a good seasonal job for you during tax season!
Tax preparers help people complete their tax forms. Many companies need extra help from January to April, during the tax filing season.
You don’t have to go to formal school to become a tax preparer, but having the right education and training can help. Many tax preparers start by taking courses or getting certifications in tax preparation from community colleges, trade schools, or online platforms.
Sometimes, this can be remote work too. I actually have my tax return filed remotely each year and have never met my accountant in person, so I personally know that this is real!
11. Bartender
If you want to earn some extra money, seasonal bartender jobs could be perfect for you. These jobs are really popular during the summer and holidays when there are lots of parties and events happening.
Becoming a bartender usually involves a mix of hands-on experience and knowledge. While formal training like bartending courses can help, many bartenders start by working entry-level jobs like barbacks or servers. This lets them learn important skills like making drinks, handling money, and talking to customers.
12. Lifeguard
A job as a lifeguard could be your perfect pick for a summer job. This is one of the top seasonal jobs for teenagers and young adults in the summer.
Lifeguards are really important for keeping swimmers safe at pools or beaches. They watch swimmers carefully to stop accidents and help quickly if someone’s in trouble. Lifeguards are trained to save lives, helping right away and doing rescue techniques if needed. They also know how to give first aid to people who get hurt while swimming.
Lifeguard jobs can pay well, with some jobs paying around $20 per hour as employees for pools and beaches.
13. 1-800-Flowers
If you want to earn extra cash, especially during the holidays, you might want to check out job opportunities with 1-800-Flowers. This well-known company sells flowers and gift baskets.
At 1-800-Flowers, there’s a big need for extra people during busy times like Christmas, Valentine’s Day, and Mother’s Day. You can find seasonal job roles such as:
Gift assembly – Put together lovely gift baskets
Distribution – Pack and send off products
Production – Get the items ready to look nice
14. Fly-fishing guide
A fly-fishing guide can be a year-round job or seasonal, depending on how you approach it.
I know some fly-fishing guides who are guides year-round, where they live in one place (such as in Florida or the Bahamas), and some who travel for 6 months to one fly-fishing area and then spend 6 months in another area. I also know some fly-fishing guides who only guide during the summer months, such as up in Alaska (and they do a different line of work the rest of the year).
So, there are many ways to make this job work for you!
Fly-fishing guides teach people how to fly-fish, share tips on fishing tactics, help with fishing gear, and more.
15. Sports referee
A sports referee can be a seasonal job, and you can choose the sport you want to ref (typically, you’d pick the one you know best or know a lot about). This could be sports like soccer, baseball, and football.
You can find jobs by checking with local recreation centers or job listings in your area.
Referees typically make around $20 to $50 per hour.
16. Parking lot attendant
Some parking lots are open year-round, and others are open only during big events, such as for summer concerts or a sporting event.
Parking lot attendants help cars find spots, take payments, and handle issues.
17. WWOOFer (unpaid but free food and stay)
WWOOF stands for Worldwide Opportunities on Organic Farms. It connects people with organic farms all over the world.
With WWOOF, volunteers can pick a place and country to visit and work on a farm. You can stay for a few days or several months, based on what you and the farm agree on.
In exchange for food and a place to stay, you need to work 4 to 6 hours a day on the farm.
So, WWOOFers do not get paid actual cash, but I did still want to mention this in this article because I know that many people are looking for seasonal jobs with housing.
You might be asked to cut wood, pack items, feed animals, make food, plant seeds, make compost, help with the garden, and do other helpful tasks for the farmer.
Recommended reading: How To Get Paid To Travel The World
Frequently Asked Questions
Below are answers to common questions about how to find seasonal jobs.
What seasonal job pays the most?
The seasonal jobs that pay the most include working as a helper (at UPS), tour guide, raft guide, fly-fishing guide, ski instructor, and bartender. Also, any job where you can get paid in tips tends to pay high.
What are some seasonal jobs with housing?
Seasonal jobs that may include housing include working as a campground worker (such as at a national park or RV park), a camp counselor, and a WWOOFer. Also, certain seasonal gigs like fly-fishing or raft guiding may come with housing as well, such as in places where housing is hard to come by or is very expensive.
What are the best seasonal jobs for college students?
The best seasonal jobs for college students include retail sales associate, camp counselor, and parking lot attendant.
What are the best seasonal jobs in winter?
The best seasonal jobs in the winter include a driver helper for UPS, working on a Christmas tree farm, and becoming a gift wrapper.
Best Seasonal Jobs – Summary
I hope you enjoyed this article on the best seasonal jobs.
Many seasonal jobs not only pay you but also give you unique experiences. You could be a camp counselor and spend time outside with kids, or work as a ski instructor and ski every day. If you’d rather work inside, you could be a sales associate in a store or wrap gifts during the holidays. Other jobs, like tax preparer or fireworks stand operator, are available at certain times of the year and can pay well too.
As you can see, there are many different seasonal jobs that may fit what you’re looking for.
An ACH routing number is a nine-digit code that identifies a financial institution during an electronic financial transaction. It ensures that money transferred using the ACH (Automated Clearing House) network is taken from and sent to the right place. ACH transfers are usually faster than paper checks and are used for various transactions like autopay and direct deposits.
Since ACH routing numbers play a vital role in everyday banking, let’s take a closer look.
What Is an ACH Routing Number?
An ACH routing number is essentially a digital address for your bank. It’s used specifically for transfers made using the Automated Clearing House (ACH) network, a system that facilitates electronic payments and direct deposits between financial institutions in the U.S.
Smaller banks and credit unions may have only one ACH routing number, while big banks may use several different ACH routing numbers based on region.
You’ll need your bank’s ACH routing number for a number of financial transactions. This includes setting up direct deposit at work, getting a tax refund directly deposited into your bank account, authorizing a one-time online payment, setting up autopay, and using a P2P payment app.
To set up an ACH transaction, you also need to provide your account number, which (unlike an ACH number) is unique to you. Your account number identifies the specific account, such as a traditional or online checking account, within the bank you want to use for the ACH credit or debit.
How Do I Find My ACH Routing Number?
Let’s say you want to sign up to pay your homeowner’s insurance automatically every month or you need to enroll in a P2P app to send someone money. To find your bank’s ACH routing number, you have a few options.
Using Your Checkbook
If you have paper checks, you can find your routing number by looking at the string of numbers printed along the bottom of a check. Your bank’s routing number is the first set of nine digits on the bottom left. It is usually followed by your account number and then the check number.
Using Your Online or Mobile Bank Account
Another way to get your ACH routing number is to go to your bank’s website and sign into your account. Methods vary by bank but, typically, here’s how you do it: Click on the last four digits of your account number (which appears above your account information) and choose “see full account number” next to your account name. A box will then open to display your bank account number and routing number.
You can also find your ACH routing number by signing into your bank’s mobile app. Typically, you just need to choose your account title and then tap “show details,” and your bank account and routing number will appear.
Using the Internet
If you don’t have access to online banking, you can also find your ACH routing number by going to your bank’s official website. You can then use the search function to look for “ACH routing number” or check the “Help” or “FAQ” sections.
Another option is to do a simple internet search. Put “ACH number” and the name of your bank into a search engine and you should be able to find it. Keep in mind that some large banks may have multiple regional ACH numbers. You want to make sure you are getting the one associated with your location.
Contacting Customer Service
If you can’t get online, you can always contact your bank’s customer service department by phone. They can provide you with the correct ACH routing number.
What Are ACH Routing Numbers Used For?
ACH routing numbers serve several essential functions in the banking system. Here are some of the main uses for ACH routing numbers:
• Direct deposit Employers use ACH routing numbers to deposit salaries directly into employees’ bank accounts. This method is fast, secure, and convenient for both employers and employees.
• Bill payments Many people use ACH routing numbers to pay bills electronically. This includes payments for utilities, mortgages, and other recurring expenses.
• Tax refunds The IRS and state tax agencies use ACH routing numbers to deposit tax refunds directly into taxpayers’ bank accounts.
• Transfers between accounts ACH routing numbers are used to transfer money between different bank accounts, whether within the same bank or between different banks. This is common for personal transactions, such as moving funds from a checking account to a savings account.
ACH vs ABA Routing Numbers: The Differences
An ABA (American Bankers Association) routing number is similar to an ACH routing number in that it identifies your bank. However, these numbers are used in different contexts.
ACH routing numbers are specifically used for electronic transactions processed through the Automated Clearing House network. This includes direct deposits, bill payments, and other electronic funds transfers. ABA routing numbers (also known as check routing numbers) are used for processing paper checks and for wire transfers. ABA and ACH simply refer to the method in which the money is moved.
These days, the same nine-digit number can serve as both an ACH routing number and an ABA routing number, which means that the ABA and ACH routing number for your bank is likely the same. If that’s the case, your bank will simply refer to its ABA/ACH routing number simply as its “routing number.”
Some banks, however, may provide separate ACH numbers (for electronic transfers) and ABA numbers (for checks and wire transfers).
ACH vs ABA Routing Numbers: History
ABA numbers were created in 1910 by the American Bankers Association (ABA) to help facilitate the sorting, bundling, and shipping of paper checks. They are still used for the processing of paper checks (and also for wire transfers).
More than a half century later, in the late 1960s, a group of California banks banded together to find a speedier alternative to check payments. They launched the first ACH in the U.S. in 1972; that was a key milestone in the evolution of electronic banking.
ACH vs ABA Routing Number: Numerical Differences
In the past, ABA and ACH numbers were slightly different, specifically the first two digits. Today, though, they are typically identical. Your bank’s ABA routing number and ACH routing number are likely to be one and the same. The reason is that both ABA and ACH numbers are used for the same purpose — transferring funds to the correct destination.
The Takeaway
An ACH routing number is a nine-digit code that identifies a bank during an electronic financial transaction. The ACH system has been used for decades and makes life easier by keeping transactions quick and secure. While ACH numbers used to be different from ABA routing codes, today these two numbers are typically the same.
Whether you are setting up direct deposits, paying bills, or transferring money between accounts, it’s essential to know your bank’s ACH routing number. You can find it by looking at your checks, logging into your account, or doing a simple online search. It’s that easy.
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FAQ
Is the routing number different for ACH and wire transfers?
In some cases, the routing number for ACH transactions may be different from the routing number used for wire transfers. ACH routing numbers are used for electronic transactions processed through the Automated Clearing House network, such as direct deposits and bill payments.
Wire transfers, which are often faster and more direct, require an ABA or wire transfer routing number. It’s a good idea to confirm with your bank to ensure you use the correct routing number for the type of transaction you are making.
Do all banks have an ACH routing number?
All banks and credit unions that process ACH transactions have an ACH routing number. This nine-digit number is your bank’s digital address, and is essential for facilitating electronic transactions such as direct deposits and bill payments. Each financial institution has its own specific ACH routing number to ensure that transactions are routed correctly.
Is your ACH number your account number?
No, your ACH routing number is not the same as your account number. The ACH routing number is a nine-digit code that identifies your bank or financial institution. Your account number, on the other hand, is a unique identifier for your specific bank account within that institution.
Both numbers are required for electronic transactions, but they serve different purposes. The routing number directs the transaction to the correct bank, while the account number specifies the particular account to be credited or debited within that bank.
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SoFi members with direct deposit activity can earn 4.60% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. Direct Deposit means a recurring deposit of regular income to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government benefit payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Direct Deposit”) via the Automated Clearing House (“ACH”) Network during a 30-day Evaluation Period (as defined below). Deposits that are not from an employer or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g., IRS tax refunds), do not constitute Direct Deposit activity. There is no minimum Direct Deposit amount required to qualify for the stated interest rate.
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Interest rates are variable and subject to change at any time. These rates are current as of 10/24/2023. There is no minimum balance requirement. Additional information can be found at https://www.sofi.com/legal/banking-rate-sheet.
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If we overlook the nearly unchanged performance from last Friday, mortgage rates were on a 5 day losing streak as of yesterday afternoon with the 30yr fixed rising about a quarter of a percent. That streak ended today as the bond market responded to favorable inflation data and tame comments from the Fed.
We can also consider that some of the recent upward momentum was a factor of this week’s Treasury auction cycle which ended yesterday afternoon. Mortgage rates are based on bonds that tend to correlate with US Treasuries and the latter certainly took some directional cues from this week’s scheduled Treasury auctions.
Speculation aside, there was a clear reaction to this morning’s quarterly PCE Price Index revision. Even though this data is “stale” by most standards, a mere 0.1% revision lower helped rates drop by 0.05% on average. While that’s a solid victory for a single day, it means that rates remain in much higher territory versus last week.
Tomorrow morning brings the more timely, monthly version of the same PCE inflation data. It will be a new release for the month of April whereas yesterday’s data was Jan-Mar. If it is 0.1% lower than expected, that would likely be a much bigger deal for bonds and rates, but there’s an equal chance of an opposite result. Volatility potential is elevated either way.
As the calendar turns to June, many homebuyers may be wondering what’s in store for the real estate market and larger rate environment. With inflation stubborn — if significantly cooled — and interest rates stuck at their highest point in decades, homebuyers haven’t had much luck lately. Combined with limited inventory and higher home prices, this spring hasn’t been an opportune time for many homebuyers.
But June brings both new inflation numbers and another Federal Reserve announcement on rates, both of which will be released on June 12. And if the former is lower or even trending in the right direction, it could lead to positive changes in the rate climate — and give homebuyers a much-needed boost. But if inflation remains inconsistent, the Fed may hint at rate hikes to come, or higher rates for longer.
Against this frustrating backdrop, then, homebuyers should consider making some smart moves now, ahead of June. They should also do their best to avoid making certain costly rate mistakes. Below, we’ll break down three to avoid now.
See what mortgage rate you could qualify for here now.
3 mortgage rate mistakes to avoid in June
In today’s volatile rate climate, homebuyers need to be judicious in their approach. This means avoiding easy-to-make mistakes such as:
Waiting for the Fed to cut rates
There’s no guarantee that the Fed will cut the federal funds rate, which influences what lenders offer for mortgages, on June 12. It’s more likely that they’ll keep the rate the same at a range between 5.25% and 5.50%, as it has been since last summer. But even if they were to issue a cut, it’s only likely to be a quarter of a percentage point reduction, which will lead to a negligible difference in mortgage rates.
At the same time, if buyers wait and rates rise — or even if the Fed simply hints at potential rate rises — the mortgage rate climate will become even more costly than it already is. So don’t wait for that to happen.
Get started with a mortgage here now.
Not locking in a rate now
While today’s mortgage rate of 7.17% for a 30-year mortgage isn’t most homebuyers’ idea of a good deal, particularly compared to the record-low rates of recent years, it’s also, historically, not that high. Mortgage rates have often been in the double digits in recent decades. And with the potential for rates to rise even further before this inflationary cycle is permanently cooled, it may not make sense to wait for a lower rate that never comes.
Instead, consider locking in the lowest rate you can find now. You could always unlock and relock a lower one before closing — or refinance when rates drop at some point in the future. But not locking in today’s rates now could be a mistake, especially if they head up toward 8% again.
Not knowing exactly which loan type to choose
In today’s mortgage rate climate, you’ll need to be nimble. That may mean exploiting a small window to lock in a mortgage rate. So it’s important to know exactly which mortgage type you plan to use now, before that time comes. While a conventional mortgage is often the most popular, an adjustable-rate mortgage, in which the rate changes over time but may be lower to start, offers unique advantages for borrowers right now.
Similarly, buying mortgage points to secure a lower rate may be helpful for some, especially in June. Whatever route you choose, make sure your lender knows your preference in advance, so that you can capitalize on any favorable rate changes when they arise.
The bottom line
In today’s mortgage rate market, it’s equally important for homebuyers to know what to do as it is to know which mistakes to avoid. To that end, buyers should strongly consider locking in a rate now and avoid waiting for the Fed to help with any favorable rate changes. They should also know exactly which mortgage type they plan to use now, so that they can pursue this loan type when their lender calls with an urgent need to act. With just weeks left before potential rate news in mid-June, buyers should consider getting to work now.
Matt Richardson
Matt Richardson is the managing editor for the Managing Your Money section for CBSNews.com. He writes and edits content about personal finance ranging from savings to investing to insurance.