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The Federal Open Market Committee on Wednesday raised the federal funds rate for the first time in four years, marking an end to the easy money that gave rise to the hottest mortgage market in U.S. history.

The FOMC, as was predicted, raised the federal funds rate by 25 basis points to 0.25-0.50 percent, the first time the FOMC has changed the federal funds rate in two years, and the first rate hike since March 2018.

The move, designed to slow the pace of inflation, which reached 7.9% for the year that ended in February, is sure to increase the cost of mortgage borrowing. Whether it slows the frenetic pace of a housing market with historically low supply is yet unclear.

“The Fed worked to ensure today’s announcement would not be a surprise, with the rate hike following a series of foretelling decisions, including its acceleration of asset tapering in December through the end of its asset purchase program earlier this month,” Realtor.com‘s chief economist Danielle Hale said in a statement following the announcement.

“The Fed’s language in its public statements has also prepared markets for rate increases by consistently focusing on above-target inflation and progress against labor market goals. This also meant that mortgage rates have largely adjusted for the first hike, and I don’t expect a spike following the latest announcement.”

Beyond the initial 25 bps rate hike, the Fed also said it planned to raise rates six additional times in 2022 and three times in 2023, giving more certainty to investors in the secondary market, which should help ease overall volatility somewhat.

How should the current market impact lenders’ tech adoption?

HousingWire recently sat down with Polly CEO Adam Carmel to discuss how lenders can break old habits and redefine the mortgage process through innovation and modern, advanced technology.

Presented by: Polly

“With the unemployment rate below 4%, inflation nearing 8% and the war in Ukraine likely to put even more upward pressure on prices, this is what the Fed needs to do to bring inflation under control,” said Mike Fratantoni, chief economist of the Mortgage Bankers Association. “The FOMC economic projections indicate slower growth and higher inflation than had been the expectation at their December meeting. Note that they do not expect to be back at 2% inflation until after 2024.”

Big questions remain, however. It’s still not entirely clear how quickly the Fed will unwind its $9 trillion balance sheet. The Federal Reserve said it would “begin reducing its holdings of Treasury securities and agency debt and agency mortgage-backed securities at a coming meeting,” but did not get more specific.

“Although we anticipate that shrinking the balance sheet will begin this summer, we will be looking for details regarding the pace of the runoff and whether they would consider active MBS sales at some point to return to an all-Treasury portfolio,” said Fratantoni.

The purchases of Treasuries and MBS, which ended this month and were designed to support the economy during the Covid-19 pandemic, helped the housing and mortgage markets reach never-before-seen heights.

Fueled by a sharp drop in mortgage rates during the pandemic, the U.S. mortgage industry funded $4.1 trillion in new loans in 2020 (64% refis, 36% purchases), and $3.9 trillion in 2021 (57% refis, 43% purchases), according to the MBA.

But refi applications fell to about one-third of rate locks in February, and lenders have switched gears to serve a heavy purchase market. And that market is largely defined by a dearth of inventory.

On Friday, Zillow reported that overall housing inventory dropped to 729,000 home listings in February, a 25% drop year-over-year and a 48% fall since February 2020. It was the fifth consecutive drop in inventory.

Though the rise of mortgage rates – the MBA anticipates rates to hover around 4.5% for the next year – will force some would-be buyers out of the purchase market, other factors appear more important.

“Mortgage rates have already been increasing for many reasons — improving economy, higher inflation expectations and Fed tightening,” said Odeta Kushi, deputy chief economist of First American Financial. “As rates rise, some buyers on the margin will pull back from the market and sellers will adjust price expectations, resulting in a moderation in house price appreciation.”

But, Kushi added: “The other implication of a rising mortgage rate environment is the rate lock-in effect. Many homeowners have locked into historically low rates, and are less likely to move as rates move higher — this does not bode well for housing supply.”

Source: housingwire.com

Apache is functioning normally

Apache is functioning normally

Inside: Are you looking for ways to make money quickly and easily? This guide has a variety of tips and tricks to help you make 1000 a day.

Making money is something that everyone is interested in. And why wouldn’t we be? Money gives us the ability to buy the things we want, travel, and live a lifestyle that most people can only dream of.

But what if I told you that it was possible to make $1000 a day? Would you believe me?

Well, in this blog post, I’m going to show you some of the best ways to make money really fast.

So if you’re looking to make some quick cash or consistent income, then this is the post for you!

In this post, I will share with your some of the best ways that I know of to make money $1k a day on a regular basis.

So if you’re ready to learn how to make 1000 a day, then let’s get started!

Is it possible to make $1000 a day?

Yes, it is possible to make $1000 a day.

In fact, this is something I regularly do (see picture to prove it).

However, achieving this goal requires commitment, hard work, and a solid plan. Factors that contribute to achieving this goal include finding a method that works for you, sticking with it, and putting in the necessary effort.

Additionally, having a unique skill set and interest in a particular method can increase the chances of success.

How to make $1000 a day?

Making $1000 a day is an appealing goal for many people, whether it’s a one-time need or a consistent source of income. Fortunately, there are several ways to achieve this goal.

Here are the top ways to make $1000 a day:

  1. Start a high-paying job: Some jobs pay over $300k a year, and while they may require advanced degrees and education, there are also a few that don’t require a college degree.
  2. Offer high-value services: You can offer services such as pet-sitting, tutoring, design work, or writing to make money.
  3. Start a business: You can start a business that generates $1000 a day, such as a digital marketing agency, freelancing, or a service-based business.
  4. Sell items you no longer need: You can sell items on eBay, Craigslist, or other online marketplaces to make quick cash.
  5. Let your money work for you: You can invest in stocks and shares, real estate, or property to earn upwards of $1000 a day.

While each method has its own advantages and disadvantages, with the right strategy and dedication, making $1000 a day is achievable.

So, get started today and see how much money you can make.

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If so, proofreading could be a perfect fit for you, just like it’s been for countless of readers! Learn how you can create a freelance business as a proofreader.

Check out this free workshop!

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Best ways to make 1000 a day

We’ve compiled a list of our favorite ways to make money really fast – specifically $1k a day!

Many times, you will have to invest 100 to make 1000 a day.

If you’re looking for ways to make some extra cash, or even earn a full-time income, this post is for you.

1. Freelance Writing

Freelance writing is a great way to make extra money or even replace your full-time job. There are various types of content that freelance writers can specialize in, such as long-form content or shorter direct-response copywriting.

With freelance writing, you can earn over $.50 or even $1 per word, which means that a 1,000-word article could net you $1,000 quickly.

To start, you need to establish a portfolio of your work to pitch to new clients. This portfolio should include links to any relevant articles or copy you’ve written that’s related to the client you’re pitching. If you don’t have a portfolio yet, you might need to do some work at lower rates to get your foot in the door.

Even if you don’t consider yourself a writer, don’t strike it off the list just yet. With the right approach and mindset, anyone can become a successful freelance writer.

2. Crafting

Crafting offers many benefits beyond just making extra cash. It allows for flexibility in your schedule, creativity in your work, and the ability to turn a hobby into a lucrative business.

If you are creative and have a talent for creating handmade items, then starting a crafting business is the perfect way to monetize that skill by doing something you enjoy. There are plenty of crafts to choose from and you may even become an instructor!

The most difficult side is you are trading your time for money and it may be difficult to scale.

3. Day Trading Stocks

Day trading stocks is a high-risk, high-reward investment strategy that involves buying and selling stocks within a single trading day. It requires a great deal of knowledge, discipline, and risk management to be successful.

However, there is a large group of us who have made the $1000 in a day club.

Successful day traders use a combination of technical analysis, risk management, and discipline to make profitable trades.

This choice requires discipline, a proper trading education, knowledge, and risk management.

Trade and Travel with Teri Ijeoma is a popular course that investors can take to learn about trading stocks and options and begin their journey to making $1,000 a day.

4. Trading Options

Trading options can be a lucrative way for seasoned investors to make money.

With options, investors can speculate on different stocks with only a fraction of the investment capital needed to buy the stocks outright.

Investors who are familiar with investing in individual stocks can take the next step in the process by trading options. While options may seem exotic on the surface, they are a common tool used by seasoned investors and are especially valuable during volatile activity in the stock market.

To trade options successfully, investors need research skills, investing knowledge, discipline, and patience.

Trading options can be a high-risk option, especially for those who lack expertise in the area. However, it can be extremely lucrative for those who have experience and knowledge in the stock market.

Investors should consider taking courses to learn more about trading options.

5. Youtube

YouTube can be a great source of income for those who are willing to put in the effort to create quality content. It offers multiple ways to generate revenue, including sponsorships, affiliate marketing, and Google Adsense.

With the right approach, it’s possible to make $1000 or more per day on YouTube.

Remember, success on YouTube takes time and hard work, but the potential rewards are significant.

6. Selling on Amazon

Selling products on Amazon can be a highly profitable business opportunity.

Amazon FBA, or Fulfilled by Amazon, is a business model where you send your inventory to Amazon warehouses and they handle the rest, including storage, shipping, customer service, and returns.

This makes it a great option for digital nomads and those looking to scale their business quickly.

With an average profit margin of $20 per sale, it’s possible to make $1,000 per day by selling just 5 units per day of 10 different products.

7. Sell Printables Online

Selling printables online has become a popular way to make passive income.

With the rise of digital products, creators can sell anything from coloring pages to budget spreadsheets on platforms like Etsy. Thousands of creators make a living selling digital products, and it’s easy to see why.

Learn how these sellers got started.

The key is to pick a topic you’re knowledgeable in and passionate about, so you can create high-quality products that people will want to buy.

8. Dropshipping

Dropshipping is one of the best ways to make $1000 a day, especially for those looking to start a business with minimal initial investment.

This business model allows entrepreneurs to sell products to customers without ever holding a single piece of stock.

Dropshipping is a viable and profitable business model that can generate high profits without the hassle of managing inventory. With the right niche, platform, supplier, and marketing strategy, entrepreneurs can make $1000 a day or more with dropshipping.

9. Consulting

Consulting is one of the best ways to make $1000 a day!

It’s a lucrative career option that allows you to provide expert advice to clients and help them solve problems.

The first step to becoming a consultant is to determine your area of expertise. This could be anything from personal finance to marketing to human resources. Your expertise should be something that you have significant knowledge and experience in.

One of the most important aspects of becoming a consultant is building your network. This includes reaching out to potential clients, attending networking events, and connecting with other professionals in your field.

10. Become a Virtual Assistant

Being a virtual assistant can be a great way to make money while setting your own hours.

As a virtual assistant with no experience, you can work from home and typically on your own schedule. You can choose to work part-time or full-time based on your availability and the workload of your clients.

The tasks that you are asked to perform as a virtual assistant can vary widely, but commonly needed skills include administration, accounting and bookkeeping, marketing, communications, customer service, and many other capacities.

You don’t need special skills or training for this job, as most clients will bring you up to speed on what they need to do. However, having organizational, communication, and time-management skills can be helpful.

Check out the checklist to get started as a virtual assistant.

11. Side Hustles

Side hustles are a great way to earn extra income and supplement your regular income. With a little effort and some creativity, you can make up to $1000 a day with certain side hustles.

Here are some of the best side hustles that can help you achieve this goal:

  1. Deliver food: You can make good money by delivering food with these apps. You can choose your own hours and work as much or as little as you want. DoorDash is a great option.
  2. Drive with ridesharing apps like Uber and Lyft: If you have a car and some free time, you can earn money by driving people around. You can make up to $1000 a day, depending on how much you work.
  3. Pet sit or walk dogs: If you love animals, you can make money by pet sitting or dog walking through Rover.com. You can earn up to $50 per day, depending on the services you offer.
  4. Babysit or tutor: If you have experience with children or are good at a particular subject, you can offer your services as a babysitter or tutor through Care.com. You can make up to $50 per hour, depending on your qualifications.

Side hustles are a great way to make extra money and reach your financial goals.

12. Start a Business

Starting a business is one of the most effective ways to make 1000 dollars a day on a regular basis. However, it requires careful planning and execution to succeed.

The first step is to research the market and identify a profitable business idea and build it to profitability.

Challenges may arise, such as competition, financial setbacks, and marketing difficulties, but with persistence and determination, you can overcome them and achieve financial success.

The potential for significant financial gain from starting a successful business is immense, making it a worthwhile endeavor for anyone willing to put in the effort.

13. Yard Work

Yard work is an excellent way to make $1000 a day, especially if you have some extra time and don’t mind getting dirty.

If you want to get up and running quickly, there is nothing better than a local side hustle to earn extra money such as mowing lawns in your neighborhood.

Mowing lawns is not only a great side hustle for adults but also for teens. For an average size lot, you could expect to make at least $35. If you could line up a few lawns each weekend, you could easily make an extra $1000 each month.

Landscaping, leave pickup, and bush trimming are all simple tasks that you can complete quickly if you have the right equipment. You can choose to set an hourly rate or get paid for the entire job, depending on the task.

You may have to start hiring crews in order to hit $1k a day.

14. AirBnb or VRBO Rentals

Airbnb or VRBO are popular platforms for renting out your property to travelers.

Many successful hosts have earned $1000 or more per day because they have accumulated more than one property.

One tip for success is to garner excellent reviews that people want to come back time and time again.

15. Affiliate Marketing

Affiliate marketing is a lucrative way to make money online and has the potential to earn you $1000 a day.

This works well for influencers who have a reach of thousands of people. Another way is creating a niche website that focuses on a specific product or market segment.

It’s essential to promote products effectively to generate revenue. Successful affiliate marketers have earned six figures or more per year.

16. Flip Products or Retail Arbitrage

Retail arbitrage is a popular business model that can help you make $1,000 per day or more. The premise is simple – buy or find things cheap and resell them for a higher price.

This is a great example of how to flip money.

To be successful, you’ll need to have an eye for the right product and do product research to choose products that will sell.

Here is a list of the most popular items to flip.

17. Pickup Services

Pickup services refer to businesses that provide transportation and delivery services for goods, furniture, or other items. These services are in high demand, especially in urban areas where people are always on the move and need help with moving heavy or bulky items.

Starting a pickup service business requires some equipment, such as a truck or van, and marketing strategies to attract customers.

So, if you are looking for a new side hustle or business opportunity, consider pickup services as a viable option.

18. Casino Gambling

While casino gambling is not a recommended way to make $1000 a day, it is still worth mentioning as a potential option.

However, it is important to note that gambling should always be done responsibly and within one’s means.

If you are considering casino gambling as a way to make quick money, it is essential to understand the most profitable games and their strategies. Here is an ordered list of the best casino games to play to make money:

  1. Blackjack: This game has one of the lowest house edges, making it a popular choice for professional gamblers. The objective of the game is to beat the dealer’s hand without going over 21. The key to winning at blackjack is to use basic strategy, which involves making the mathematically correct decisions based on the dealer’s upcard and your own hand.
  2. Craps: This game has a low house edge and offers a variety of betting options. The objective of the game is to predict the outcome of a roll or series of rolls of the dice. To win at craps, it is essential to understand the different bets and their odds and to follow a betting strategy that suits your playing style.
  3. Baccarat: This game is easy to learn and has a low house edge. The objective of the game is to bet on the hand that will have a total of 9 or closer to 9. The key to winning at baccarat is to understand the different bets and their odds and to follow a betting strategy that suits your playing style.

When playing these games, it is important to practice good bankroll management by setting a budget for yourself and sticking to it. It is also crucial to know when to quit to avoid losing money.

A winning streak can lead to making $1000 a day, but it is important to be cautious and not get carried away.

19. Freelance Graphic Design

Graphic designers create visual concepts using computer software or by hand to communicate ideas that inspire, inform, and captivate consumers. They work on various projects such as branding, marketing materials, website design, and more.

Freelance graphic design is a lucrative option because there is always a demand for graphic design services, and businesses are willing to pay top dollar for high-quality designs.

By building a strong portfolio, staying up-to-date with the latest design trends, and providing excellent service to your clients, you can earn a substantial income as a freelance graphic designer.

20. Make Money Flipping Items

Flea market flipping is a great way to make some extra cash on the side or even turn it into a full-time business. It involves buying items for a low price and reselling them for a profit.

One couple, Rob and Melissa Stephenson, have become full-time flea market flippers and even host their own website, Flea Market Flipper, to help others find success in the venture. They offer several courses to help individuals turn this into a serious side hustle or even a full-time business earning six figures.

Learning from successful flea market flippers like Stephenson’s can be a great way to get started. They have the skills and knowledge to help individuals find valuable items, network, and use social media and photography to their advantage.

21. Photography

Photography is a lucrative career option that has the potential to generate high income or as a side hustle.

There are different types of photography that one can explore to make money, including wedding photography, family photography, real estate photography, and stock photography.

By building a strong portfolio, networking, finding clients, investing in high-quality equipment, and constantly improving your skills, you can become a successful photographer and make a great income. Don’t underestimate your potential in this field.

22. Rental Income

Passive income through rental properties is a great way to generate consistent long-term income. Here are the steps to follow in order to make $1000 a day through rent income:

Find a suitable property: Look for properties that are priced reasonably, require minimal renovations, and are located in areas with high rental demand. You are likely to start making $1000 a month.

However, the earning potential is dependent on the ability to scale multiple properties, keep them occupied, and increase monthly income streams.

Investing in rental properties can be a lucrative and rewarding experience for those willing to put in the effort.

23. Amazon Merch

Amazon Merch is a platform that allows you to create and sell your own merchandise on Amazon. It’s an excellent way to make money because Amazon handles all of the heavy lifting, such as printing, shipping, and customer service.

Using Amazon Merch, you can sell a variety of products from t-shirts to phone cases, and best of all, you don’t need to invest in inventory or equipment.

All you need to do is create the designs.

Successful Amazon Merch sellers include graphic designers, artists, and entrepreneurs who have created unique and appealing designs that resonate with their target audience.

24. Creative Skills like Video Editing

Creative skills can be a valuable asset when it comes to generating income. Video editing is another skill that can be monetized.

With the rise of video content, businesses, and individuals are always in need of skilled video editors. One can offer video editing services for YouTube creators, and businesses, or even edit personal videos for clients.

Freelance platforms like Upwork and Fiverr are great places to find video editing jobs.

25. Fashion Design

Fashion design is one of the most lucrative ways to make money, and it’s an industry that’s always in demand.

Whether you’re interested in starting your own fashion label, working for a fashion house, or becoming a freelance designer, there are plenty of opportunities to make a living in this field.

  • Marketing yourself is also key to success in fashion design. Use social media platforms like Instagram and Pinterest to showcase your work and build a following.
  • Networking is also an important part of building a successful career in fashion design. You must stay up-to-date on industry trends, make valuable connections, and potentially land new clients or job opportunities.
  • Create a website or blog where you can share your designs, offer fashion tips, and connect with potential clients.

Pay attention to industry trends, stay creative and original, and focus on developing your skills and building your brand. Then, there are plenty of opportunities to make a living in this exciting and dynamic industry.

26. Start a Blog

Many people say blogging is dead. But, it’s not.

Starting a blog can be a great way to share your interests, skills, and experiences with others while also creating a new income stream for yourself. The flexibility of blogging allows you to turn your current job or passion into a successful blog.

However, starting a blog can be challenging, and it requires technical knowledge, writing ability, social media skills, and topical expertise.

Once you have started your blog, it’s essential to treat it like a business and monetize your content.

27. Self-Storage Business

Self-storage business is a lucrative venture that involves renting out storage units to customers who need extra space for their belongings. These businesses are in high demand, especially in urban areas where living spaces are often small and cramped.

In fact, the self-storage business is expected to bloom to $64.17 billion by 2026.

Starting a self-storage business can be a profitable venture if done correctly.

28. Invest in Cryptocurrencies

Cryptocurrencies have gained popularity as a potential source of significant income. Bitcoin, Ethereum, and Litecoin are some of the best cryptocurrencies to invest in.

To invest in cryptocurrencies, one must first set up a digital wallet and choose a reputable exchange such as Coinbase or Bitstamp.

It is important to research the market and understand the volatility of cryptocurrency before investing. While the potential for high returns exists, it is important to approach cryptocurrency investing with caution.

29. Invest in Real Estate

Investing in real estate can be a lucrative way of making money.

To make $1000 a day through real estate investing, there are several steps you can take.

  • First, set aside a few hundred dollars each month to invest in real estate over time.
  • Second, consider the different types of real estate investments available, such as rental properties, commercial properties, and fix-and-flip properties. Each investment type has its own advantages and disadvantages, so it’s important to research and choose the one that fits your financial goals.
  • Third, consider investing in real estate investment trusts (REITs) or crowdfunding platforms like Fundrise, which allow you to invest in real estate without purchasing a property.

Remember that investing in real estate carries a degree of risk, so it’s important to do your research and seek advice from successful real estate investors.

30. Make Money on the Internet

Making money online has become a popular option for those looking to earn a substantial income. The internet provides a wealth of opportunities for anyone with an internet connection and a bit of creativity.

You need to learn how to make money online for beginners.

There are so many options today and you never have to leave your house!

When it comes to making $1000 a day online, it’s important to acknowledge that it’s not a quick or easy process. It takes time and effort to build a successful online business or generate significant income through freelance work or other online opportunities.

However, with dedication and hard work, it is possible to achieve your financial goals.

How to make $1,000 really fast?

If you’re in a financial bind and need to make $1,000 quickly, there are several options available to you.

Here are the top ways to make $1,000 a day quickly:

  1. Sell items on eBay or Craigslist: If you have items that you no longer need, consider selling them online. This could include clothes, furniture, or electronics. This is a quick and easy way to make money fast.
  2. Offer freelance services: You can offer services such as tutoring, design work, or writing. If you have a specific skill or talent, you can find customers online who are willing to pay for your services.
  3. Do odd jobs for people in your community: You can offer to mow lawns, rake leaves, or shovel snow for a fee. This is a great way to make money quickly, especially if you live in an area with a lot of homeowners.
  4. Participate in paid focus groups or surveys: This is a great way to make money quickly without leaving your home. Companies are always looking for feedback on their products and services, and they are willing to pay for it.
  5. Rent out a room in your home on Airbnb: If you have a spare room in your home, you can rent it out on Airbnb and make money quickly. This is a great option if you live in a popular tourist destination.
  6. Manage social media accounts: Many businesses need help managing their social media accounts, and they are willing to pay for them. If you have experience with social media, this could be a great way to make money quickly.
  7. Start a blog: If you have a passion for writing or a specific topic, you can start a blog and sell advertising space or products/services to your readers. This takes some time to build up, but it can be a lucrative way to make money in the long run.
  8. Sell handmade crafts or goods online: If you’re crafty, you can make items and sell them online, such as on Etsy. This is a great way to turn your hobby into a money-making opportunity.
  9. Borrow money from friends or family: This is not an ideal option, but if you’re in a bind and need money quickly, consider asking for a loan from someone you trust.
  10. Pawn items for cash: This is a last resort option, but if you have items of value, you can pawn them for cash quickly.

Don’t be afraid to try different methods and see what works best for you.

This is the perfect side hustle if you don’t have much time, experience, or money.

Many earn over $10,000 in a year selling printables on Etsy. Learn how to get started by watching this free workshop.

If you’ve ever wanted to make a full-time income while working from home, you’re in the right place!

This intensive training combines thousands of hours of research, years of experience in growing a virtual assistant business, and the power of a coach who has helped thousands of students launch and grow their own business from scratch. 

FAQ

Passive income is a form of earnings that is generated without active involvement.

It is a way to make money while you sleep and can provide financial stability and independence.

This is one of three types of income and the one you want to strive towards building.

Ultimately, the best side hustle for making $1000 a day is one that meets your needs and interests while providing a good return on investment.

Here are several factors to consider before choosing the best option.

  1. Think about your skills, interests, and availability. If you have a full-time job, you may want to consider a side hustle that allows you to work flexible hours.
  2. Next, consider the earning potential of the side hustle you are considering. Some side hustles pay more than others, and you want to choose one that will give you the highest return on investment.
  3. Additionally, consider the start-up costs associated with the side hustle. Some require significant investment, such as buying a car for ride-sharing apps or purchasing an online course.

Most importantly, choose a side hustle that aligns with your passion and expertise. This will make the work more enjoyable and increase your chances of success.

There are many ways to make money from your expertise.

You can start a consulting business, offer services such as coaching or speaking, create and sell information products, or build a following and sell advertising or sponsorships. The possibilities are endless.

What’s important is that you start somewhere and then take action to turn your expertise into cash.

Ready to Make 1000 in a Day?

There are many ways to make money quickly and easily.

The best way to make money fast is to find a way that best suits your skills and interests.

Whether it’s graphic design, content creation, photography, or trading stocks, there are plenty of opportunities to turn your passions into profit. So, start honing your skills and explore the endless possibilities of the gig economy.

Learning how to make quick money in one day is possible. You just need to be determined and disciplined.

So, which method do you choose on how to make $1k a day?

Know someone else that needs this, too? Then, please share!!

Source: moneybliss.org

Apache is functioning normally

Apache is functioning normally

As the Federal Reserve raised short-term rates for the first time in years, mortgage rates climbed 31 basis points to 4.16%, according to data from Freddie Mac‘s PMMS survey.

“The 30-year fixed-rate mortgage exceeded four percent for the first time since May of 2019,” said Sam Khater, Freddie Mac’s chief economist. “The Federal Reserve raising short-term rates and signaling further increases means mortgage rates should continue to rise over the course of the year. While home purchase demand has moderated, it remains competitive due to low existing inventory, suggesting high house price pressures will continue during the spring homebuying season.”

During a highly anticipated meeting on Wednesday, the Federal Reserve raised the benchmark rate a quarter of a percentage point. The Fed said there would likely be six more rate hikes in 2022 and three more in 2023, the primary tool the central bank is using to reduce inflation, which climbed to a 40-year high in February, at an annual rate of 7.9%.

The 30-year-fixed rate rose 31 points from 3.85% for the week ending March 17, according to Freddie Mac. A year ago, the 30-year averaged 3.09%. Freddie Mac assumes borrowers bought 0.8 mortgage points on their loan.

The 15-year fixed-rate mortgage averaged 3.39%, up from 3.09% last week. A year ago, the 15-year fixed-rate mortgage averaged 2.40%. The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.19% with an average of 0.2 points purchase by borrowers, 22 basis points higher last week. A year ago, the 5-year ARM averaged 2.79%.

The increase in rates in recent months has dramatically chilled refinancing activity in the mortgage market. According to the Mortgage Bankers Association, refi applications this week are down 49% from a year ago, and rate lock data from Black Knight found that refis in February were down to just about one-third of mortgages.

Staying nimble in a fast-paced market with the right mortgage technology

In the rapid-fire, volatile mortgage marketplace, lenders need technologies to help them remain nimble and successfully navigate constant change. Advanced product, pricing and eligibility technology creates efficiencies and helps lenders compete in a fast-paced market.

Presented by: Black Knight

The seasonally adjusted purchase index increased 1% from one week earlier; the unadjusted purchase index increased 2% from the prior week but was 8% lower than the same week a year ago, largely due to a decline in inventory.

Still, it remains to be seen whether the spoke in mortgage rates back to 2019 levels will chill the purchase market, which in many markets is still defined by low inventory, multiple offers and bidding wars. Zillow reported late last week that inventory dropped to 729,000 home listings in February, a 25% drop year-over-year and a 48% fall since February 2020. It was the fifth consecutive drop in inventory.

While mortgage rates will chill the refi market, the Federal Reserve laying out a clear path ahead should stem some of the volatility with mortgage rates, which have been on a rollercoaster ride for over a month.

Source: housingwire.com

Apache is functioning normally

Apache is functioning normally

Luxury homes are often called dream homes for a reason. They come with lavish features such as expansive floor plans, state-of-the-art appliances, and perfectly manicured gardens. In the competitive Orlando housing market, staying ahead of the curve is essential to maximize the value and desirability of your property. Popular home features for luxury listings in Orlando encompass a wide range of benefits, from enhanced functionality to aesthetic appeal.

If you’re looking to sell your Orlando home in the near future, investing in the right luxury features can increase your home’s equity and make it more attractive to potential buyers that are willing to pay top-dollar. Or, if you’re a potential buyer and want to know what luxury features to expect in Orlando, you’ll be able to make informed decisions and navigate the Orlando housing market with confidence. 

Read on to discover the home features that set a luxury home apart from the rest. So, what features are most important to today’s home buyers? Let’s find out. 

1. Spacious rooms that leave a lasting impression

When it comes to luxury homes, you can expect the wow factor to kick in right from the moment you step inside. The entryway is oftentimes grand, setting the stage for the entire property and the tone for what’s to come. You’ll find spacious rooms with high ceilings that create a sense of spaciousness and airiness. Exquisite architectural details add to the overall appeal, complemented by intricate moldings, recessed lighting, and carefully designed shelves.

2. Natural lighting for a brighter floor plan

One thing that luxury homeowners in Orlando truly value is natural light. It creates a seamless connection with the outdoors and enhances the overall ambiance. That’s why you’ll often find larger glass windows and doors in these homes, allowing an abundance of sunlight to flood the living spaces and providing breathtaking views of the surrounding environment. It’s all about embracing the beauty of nature and bringing it indoors.

3. Exquisite outdoor living spaces to relax and entertain

Unsurprisingly, one of the best things about living in Orlando is the natural beauty and warm climate. Orlando’s luxury homes benefit from their prime locations, often situated on coastlines, lakes, and springs, and provide the perfect backdrop for creating exceptional outdoor living spaces. Seamless integration between indoor and outdoor living is what sets luxury homes apart and elevates the overall living experience.

Additionally, the centerpiece of these outdoor spaces is often the luxurious, high-end pool and spa. Whether you’re lounging poolside under the warm Florida sun or unwinding in the bubbling waters of the spa, the outdoor living experience is truly unparalleled.

As a result, outdoor spaces have emerged as the most popular luxury home feature among potential homebuyers for Redfin Premier listings. The popularity of outdoor living is rapidly growing, with a particular focus on outdoor kitchens. These expansive culinary havens boast top-of-the-line appliances, ample seating areas, and meticulous attention to detail. As the demand for outdoor living continues to rise, incorporating well-designed outdoor kitchens has become a key selling point for luxury properties.

4. High-end kitchens to elevate your culinary experience

Spacious kitchens are highly valued in Orlando, with high-end finishes like marble or quartz countertops, top-of-the-line appliances, and fixtures, creating a beautiful and functional space. A butler’s pantry or extra storage options add convenience and organization to the space. 

5. Luxury bathrooms for a spa-like retreat

In luxury bathrooms, elaborate glass showers or open areas near soaking tubs provide a spa-like experience. High-end fixtures, carefully curated lighting, and privacy windows strike a balance between elegance and practicality. These features set high-end homes apart from their non-luxury counterparts, offering refined spaces that combine opulence, style, and functionality.

6. Specialized spaces tailored to your every need

Luxury homes now prioritize designated spaces for specific purposes, such as home offices, media rooms, and home gyms. While open living areas for gatherings remain desirable, including these specialized spaces adds functionality and convenience. Dedicated spaces are even more appealing when they come fully equipped for their intended use, enhancing both functionality and comfort. 

For instance, a home office may feature built-in custom cabinetry, providing a practical and organized workspace. Media rooms are designed with comfortable seating and top-notch equipment, creating an immersive entertainment experience. 

These dedicated spaces allow homeowners to have dedicated areas for work, leisure, and wellness, enhancing the overall lifestyle and enjoyment of the home.

7. Smart home technology is the ultimate convenience

Technology translates to convenience, and the integration of advanced automation systems offers homeowners a seamless living experience, elevating their lifestyle to new heights. With smart technology, homeowners can remotely manage and monitor various aspects of their homes, including door locks, garage doors, security cameras, and temperature control. This level of connectivity and automation enhances security, energy efficiency, and overall comfort.

Looking to buy a luxury home in Orlando?

If you’re in the market to buy a luxury home in Orlando, be sure to check out Winter Park, Lake Hart, Bay Hill, and Windermere  – these are all prominent neighborhoods in the market known for their luxury homes. Winter Park, in particular, continues to see ongoing construction and is highly regarded for its upscale properties. 

Looking to sell a luxury home in Orlando?

Selling a luxury home requires a specialized approach. From pricing to marketing, every aspect must cater to buyers with high expectations. As you move up the price range, strategic decisions become crucial to attract potential homebuyers.

A skilled real estate agent understands the unique demands of luxury buyers and can effectively communicate the value of your property. They possess the necessary insights to position your home in the market, target the right audience, and negotiate favorable deals.

There are several features and amenities that can elevate a Redfin Premier listing and make it stand out from others. One effective strategy for luxury homes in Orlando is to highlight outdoor photos and drone footage, particularly for waterfront homes. 

In a recent Redfin Premier listing, unique home features that served as key selling points were the private pool and additional garage space. Several buyers who were relocating to Florida expressed a strong preference for homes that offered these amenities. The private pool provided a luxurious and refreshing oasis for relaxation and entertainment. At the same time, the extra garage space offered ample storage and flexibility for car enthusiasts or those needing additional workspace. Including these sought-after features significantly attracted and appealed to potential buyers, ultimately contributing to the successful sale of the property. Remember, your home’s unique and high-value features are your main selling points.

A final note on luxury homes features in Orlando 

The luxury real estate market in Orlando, FL offers a wealth of opportunities for both buyers and sellers. As buyers search for their dream home, it’s important to be aware of the luxury features that Orlando has to offer, including waterfront properties, expansive outdoor living spaces, smart home technology, and breathtaking views. On the other hand, it’s essential for sellers to leverage these features and showcase their homes’ high-end features to capture the attention of potential buyers. Be sure to work with an experienced local real estate professional to help navigate Orlando’s luxury real estate market successfully. 

Source: redfin.com

Apache is functioning normally

Apache is functioning normally

This week, we interviewed Andrew Sidhu from Foyer.

Without further ado…

Who are you and what do you do?

My name is Andrew Sidhu, and I am the Founder and Chief Executive Officer of Foyer, Inc., a PropTech development company. We just introduced Foyer Insight, the most advanced computer vision Artificial Intelligence (AI) suite which is focused solely on the real estate industry. It uses multi-label image classification and image segmentations to give real estate agents and platforms the tools to be more responsive to client needs by automatically ensuring the highest quality images and building an image-first experience at the fingertips of a new generation of home buyers. It is my belief that by doing so, we can elevate and streamline the home buying process.

Our company is headquartered in Trumbull, CT and we have an excellent team of developers who are working to push both our machine learning tools to a new level through breakthrough unsupervised learning techniques, and our image validation suite to ensure the highest quality of listings. I personally head the research and development of our ML team, as well as running the company as its CEO.

What problem does your product/service solve?

During my own house hunt a few years ago, I began to feel that finding your perfect home should be a more intuitive and streamlined process. I wanted to be able to search for my new home by its Kitchen, but ended up having to click for 30 seconds or more just to get to the kitchen pictures of each listing. Until now, property search sites usually relied on simple preferences such as location and price to display properties for sale.

That’s because the most important part of any real estate listing, the photos, were both completely disconnected from the rest of the listing and each other. In order to be able to jump to the kitchen pictures, Listings need to have the context of what is in the photos, nothing like that was available.

Foyer Inc was created to solve that problem and provide linked, detailed context to each photo and feature of the home. We have taken it a step further by cataloging the features of each room, stainless steel appliances, fireplaces, vaulted ceilings, and contextualizing it to searchable parameters. We can find your perfect home, like the one that has a view of the fireplace in your living room from the kitchen island, and allow you to get as specific in your search as you want. Not just limited to bedrooms, price, and a couple checkboxes which provide arbitrary results.

We give real estate companies the drop-in tools to enhance their own services and platforms the tools to evolve the buying process into something new. Whether it be an image first search experience, a better recommendation engine, and ensuring that each listing is of the highest quality.

By combining big data and our AI, Foyer Insight allows real estate agents to provide interfaces that allow clients to search photos and information based on room type, lighting, specific features (hardwood floors, stainless steel appliances), and more. Foyer also allows realty search sites to evaluate pricing trends by home features which are not usually available by just the listing details, such as the color of kitchen cabinets and countertop combinations.

In the past, the industry seemed reluctant to embrace technology for fear of eliminating the personal connection between broker and buyer. I wanted to help real estate professionals turn to solutions that can help them enhance that relationship. In fact, the human connection between the agent or broker and the home buyer is still one of the most important elements of the real estate transaction. This is why I believe it is so important to put the most advanced technology into the agents’ hands. Companies like Zillow have been using advanced tools to bridge the moat that a personal connection has in order to compete with local agents. I want to empower those agents with the same tools and democratize real estate information to make a better experience for every home buyer.

The use of AI and unsupervised machine learning allows us to produce actionable data which has been hiding in plain sight within every photo, and using that to help agents enhance and improve their clients’ experiences during the home buying process.

What are you most excited about right now?

I’m most excited about the potential impact that unsupervised learning will have on image classification because it cannot be underestimated, especially in the real estate industry. Real estate imagery is subjective in general, and can vary greatly by cultures, regions, or even neighborhoods. The only way to be consistent in all cases is to eliminate human biases by the people building the model. Removing the bias and combining it with Foyer’s ability to work off millions of images, means it isn’t overfitted to a certain décor. This allows it to be easily scalable to other markets and to perform at an equivalent level anywhere its deployed.

The adaptable nature of unsupervised learning means it can be used for many kinds of A.I. models, but it is especially good for real estate because the classifications are not cut and dry, or mutually exclusive in nature. In the past, it has been difficult to deal with edge cases with a supervised training dataset, even between developers we would have arguments about how much of an image has to be in the kitchen, or where the kitchen starts and ends. But now using unsupervised learning, the model grows on its own and develops its own consensus. Additionally, with unsupervised learning, new features can be scaled into production much more efficiently, without the need to hand feed large amounts of data. The models are able to accurately develop new classifications on their own with far fewer validation examples, rather than requiring our developers and client partners to walk it through every step.

What’s next for you?

My focus now is on working with top real estate company development teams across the U.S. to implement our technology into their stack and adapt it to each company’s own unique brand and specifications. We are also continuing to develop our visual suite that can be used by any agent in the United States on their own to provide an image first search solution to their clients today, and help them build and validate their own high-quality listings.

What’s a cause you’re passionate about and why?

I’m extremely passionate about right-to-repair and technology in the automotive space. Maintaining a fork of OpenPilot, an open-source aftermarket self-driving system, for Pre-Autopilot Tesla cars produced before 2015 is currently my primary hobby. Working with the community, I help maintain a fleet of over 100 cars which are all running our fork and hardware.

Many of these cars are out of warranty or salvage cars, and are usually only able to be repaired by Tesla themselves, and there’s even a question if Tesla will even repair the car at all. I have personally helped hundreds of people diagnose, repair, and get their cars running again after Tesla has refused. I don’t accept payments for this or any of the work I do on OpenPilot and redirect anyone who insists to donate to Planned Parenthood instead – My spreadsheet of donations currently has a total of $12,850.00 donated since 2017, I’m pretty proud about that.

I have recently taken an interest in 3D printing as well, but that is honestly just an extension of my OpenPilot hobby as our latest hardware requires us to build custom parts.

Thanks to Andrew for sharing his story. If you’d like to connect, find him on LinkedIn here.

We’re constantly looking for great real estate tech entrepreneurs to feature. If that’s you, please read this post — then drop us a line (Community @ geekestate dot com).

Source: geekestateblog.com

Apache is functioning normally

Apache is functioning normally

I’ve decided to develop a budget.

This probably sounds strange coming from a guy who has been anti-budget all his life. Besides, haven’t I paid off all my debt? Don’t I have a positive cash-flow of over $1,000 per month? Yes, these things are true. But I’ve noticed something troubling: I’ve begun to experience that lifestyle inflation I’m always warning others about.

Lifestyle inflation is the natural tendency to increase our spending as our incomes increase. When we get a raise at work, we’re likely to spend more at home. A little lifestyle inflation is fine. But there’s a real danger of becoming too comfortable with increased spending. Once we become accustomed to a certain lifestyle, it’s difficult to cut back.

Cracks in the Foundation

On our flight home from Orlando, Kris and I talked about my spending. It has increased in recent months. Some of this is deliberate. I’ve made a conscious decision to allow myself to spend more money on Wants. I can afford it. The trouble is that I’ve begun to spend indiscriminately again, and I’m afraid that’s a slippery slope. I’ll buy random magazines at the grocery store, or pick up a game for the Wii that I’m only half interested in.

I’m certainly not spending beyond my means, but I’ve begun to make more impulse purchases. I want to correct this now — before it becomes a problem. In the past, I’ve used a spending plan to help me meet my goals, and more recently I’ve been following the broad outlines of Elizabeth Warren’s balanced money formula:

But sometimes broad outlines aren’t enough. In this case, Kris suggested that a budget might help curb my impulsiveness, and I think she’s right. With a budget, I can set specific goals. I can focus on the things I really want instead of just spending on random things that appeal to me in the moment.

So, I’ve decided to create a budget. Not a comprehensive budget — my Income, Needs, and Saving are all fine — but a budget for my Wants. I want to exercise discipline in this area so that I’m spending on things that are actually important to me instead of random stuff, stuff that ultimately turns into clutter.

Blueprint for Success

To start, I reviewed my discretionary spending from last year and compared it to the totals from the first four months of 2009. This is where tracking every penny you spend can prove valuable. By comparing my past spending to my present spending, I’m able to detect trends. It’s very clear, for example, that I am again spending too much on dining out. Time to cut back.

Next, I thought about my goals. What is it that I really want to do? Lately, travel appeals to me. Kris and I both would like to take a vacation to Europe in 2010. To make that happen, I need to save. This gives me a medium-term goal to save toward.

Finally, I allocated a specific amount of money toward my monthly Wants. Remember, because I’m self-employed, I have an irregular income that passes through my business account first. If I pull out $2500 per month (after taxes) to act as personal income, that gives me $750 to spend on my passions. That should be plenty.

Note:Based on my Income, Needs, and Saving, I can afford to allocate $750 for Wants. This might seem high to some GRS readers. It would have seemed high to me once, too. But because I’ve paid off my consumer debt, I have $750 per month to spend on the things that make me happy.

Building the Budget

After collecting the data and setting my goals, I made a first pass at a budget. This is what I’ll use for June and July:

  • Books: $50/month
  • Comic Books: $50/month
  • Entertainment: $50/month
  • Clothing: $50/month
  • Charity: $50/month
  • Dining Out: $200/month
  • Vacation 2010: $200/month (plus small windfalls)
  • Miscellaneous: $100/month

Obviously, you might make different choices. I know that many GRS readers are avid contributors to charity, for example, and I suspect few of you budget for comic books! These are the allocations that seem to make sense for me and my situation. I’m sure that I’ll make changes to this budget as I work with it in the real world.

Actually, I have a lot of questions about how a budget should work in the real world. Because I’m a budgeting novice, I could use some help. I’m hoping that you experienced budgeters can answer some of my questions:

  • How often do you re-evaluate your budget? Do you make monthly adjustments? Quarterly? Yearly?
  • If you go over budget for a month, what do you do? Do you make immediate adjustments? Or do you simply try to correct things the following month?
  • What if I go under budget in a category? Does that mean I get to carry that money into the next month? Can I use it for a different Want category? (Perhaps sweep anything extra into the Vacation fund?) Or does does that money go to Saving instead? Or should I donate it to charity?
  • How do you track your spending against the budget? If I used the envelope system, I’d allocate the actual cash to each account before-hand. But what if I don’t want to have that much cash around the house? Is there a good way to keep track of current spending in each category? Should I carry a notecard with my monthly spending on it? (That seems to be what Bargain Babe recommends.)
  • Do you try to further reduce spending on these categories? For example, should I try to drop my budget for Dining Out even more?

This is a strange new world for me. Over the past year, I’ve been pursuing more and more advanced personal finance subjects and concepts. Yet here I am, in better financial shape than ever, about to implement a basic skill I’ve never mastered before. That’s okay. I believe it’s important to continue focusing on the fundamentals even as we tackle more advanced topics.

My Discretionary Spending: Bits and Pieces

I want to talk about a couple of my spending habits. One is a worrisome trend, and one is a thing I’m doing right.

Food for Thought

Long-time readers know that Kris and I love to dine out. It’s one of those things we’re willing to spend on. We cut corners in other areas of our lives so that we can afford to make this happen. Still, I’ve been concerned about my restaurant spending for the past couple of years. It seems a tad excessive.

How’d I do last year? Well, my grocery spending dropped, but my restaurant spending went up again — a lot. Here’s a look at five years of data:

  • In 2005, we spent $1423.39 to dine out 100 times, for an average cost of $14.23 per meal.
  • In 2006, we spent $1869.58 to dine out 108 times, for an average cost of $17.31 per meal.
  • In 2007, we spent $2051.93 to dine out 84 times, for an average cost of $24.43 per meal.
  • In 2008, we spent $2628.08 to dine out 77 times, for an average cost of $34.14 per meal.
  • In 2009, we spent $3443.61 to dine out 69 times, for an average cost of $49.91 per meal.

Holy cats! Will you look at those numbers? We’re only dining out about half two-thirds as often as we were in 2006, but we’re spending nearly three times as much per meal. At the current rate of spending growth, we’ll be spending $300 per meal in 2015! Since I can afford our current spending — I’m not living beyond my means — the real question is: Am I getting my money’s worth? I’m not sure that I am.

If I’m honest, I have to admit that I don’t like the idea that we’re paying $50 per meal. I’d much rather return to our former habit: Dining out more often, but spending less each time. To that end, I’ve been brainstorming ways we can work to cut costs:

    • We could do a better job of looking for discounts. We have an Entertainment book, and the local paper often features specials at local restaurants. We should take advantage of both of these. We used to do this, but have fallen out of the habit (primarily because we’ve become so used to eating at the same places again and again).
    • We need to find more cheap places to eat. Half the fun of going out is just going out. Sure, we love the fancy restaurants, but we used to be happy with Dairy Queen. (This is lifestyle inflation in action!) The real problem is that the cheap places I know and love (Cha Cha Cha and Imperial Garden) aren’t Kris’ favorites. We need to find cheap places we both like.
    • When we do eat in the same old haunts, we need to make an effort to reduce our spending. It’s okay to have an appetizer, entree, dessert, and drink all in the same meal now and then, but we could save money by cutting one or two of these from the mix each time we dine out.
    • Finally, we should invite friends to our home for dinner more often. As soon as the book is done (getting close!), I’m going to make a habit of inviting one family to dine with us every couple of weeks. We used to do this a lot, but have fallen out of the habit. It’s fun and frugal to have folks over for dinner.

So, that’s one part of my financial life that still needs work. Next, let’s look at something I’m doing right.

Tangent: Portlanders, help me out. What are your favorite cheap places to eat around town? Bonus points for inner southeast, West of 39th from Hawthorne south to Oregon City.

A Waning of Want

Here’s something that amazes me: We’re twelve days into the year and I haven’t spent anything yet on personal expenses. I haven’t even felt the urge. I’ve bought gas for the Mini and groceries for home, and Kris and I went out to lunch last Friday, but I haven’t spent a dime on gadgets or books or games or toys or magazines.

“Big deal,” you might say. “That’s how it should be.” You’re right. But for me, this is a big deal. All my life, I’ve had the uncontrollable urge to buy Stuff. It used to be that I couldn’t go more than a day or two without buying something. Even while writing this blog, that’s been the case. (I’ve just learned to channel my desires into smaller, cheaper things.) Now, as last, I seem to have licked it.

I still want things — no question! — but I’ve become very good at ignoring the wants and moving on. How?

  • Sometimes, I just put down the thing I want, turn off my brain, and walk away. I force myself to stop thinking about it. (Usually by thinking about something else — like our upcoming trip to Europe, and how I need to save for that instead.)
  • If I still want the thing when I get home, I put it on my Amazon wish-list. For whatever reason, that’s often enough to satisfy the strange inner workings of my mind. I feel comforted knowing I’ve let myself put it on a list where I won’t forget it.
  • I’m very good about using the 30-day rule to control my impulse spending. My Amazon wish-list plays a role in that, but so does my mountain of index cards. (My life wouldn’t be complete without index cards.) I have a handful of cards on my desk filled with notes about the things I want. It’s amazing how many times I sort through this stack and end up throwing cards away because I no longer want the item I’ve written down.

These techniques help me deal with desire. They don’t quell it completely — nor would I want them to — but they do keep it in check. That last rule is probably the most effective. By delaying purchases 30 days, I don’t feel like I’m denying myself. I can still buy what I want if I want it 30 days later, but I’m not just giving in to impulse spending. (When 30 days rolls around and I do still want something, it actually feels pretty good to be able to buy it.)

My current spending moratorium isn’t permanent, and I know that. In fact, the new Dick Tracy anthology comes out tomorrow, so if nothing else, I’ll be shelling over $25 for that.

Remember: there’s nothing inherently wrong with spending money on things that bring you joy. Problems arise when you finance these purchases with debt. If you’re meeting your other financial goals and have money left over, it’s good to indulge your interests and passions. Just make sure you’re getting value for the dollars you spend.

A Look Back to Previous Years

I believe there are two components to building wealth:

  • Reducing costs
  • Boosting income

Doing one or the other can help you meet your goals, but to really succeed, you must do both. My goal has been to create a significant positive monthly cash flow. I’ve managed to do this. But as my income increases, so does the temptation to spend more. Have I been able to fight the urge? It’s time for the annual review of my largest sources of discretionary spending:

Comic Books (2005: $2810.52, 2006: $3202.91, 2007: $897.08, 2008: $550.51)
Although I use comics as a prop for laughs at Get Rich Slowly, I’ve genuinely struggled with my spending on them in the past. Not this year. I made vast improvements in 2008, actually spending less on comics than I had planned. There are two reasons for this. First, I’ve narrowed my focus, collecting only those titles I most desire. I’m also making an effort to read all of the books I’ve bought but never finished. These two changes have helped me to spend less on this hobby.
Books (2005: $1049.91, 2006: $657.96, 2007: $702.73, 2008: $404.49)
At one time, I spent over $200 a month on books. Now I spend less than $40. I’m content with this number, especially since many of these are for our monthly book group. One reason my inclination to buy books has decreased is that I’m able to purchase personal-finance books through Get Rich Slowly, the business. (Plus authors and publishers send them to me for free.) This gives me a never-ending source of reading material, and makes me less inclined to spend time in a bookstore. And again, I’m trying to read books I own but have never finished.
Entertainment (2005: $478.81, 2006: $543.55, 2007: $1094.83, 2008: $897.91)
This number isn’t as bad as it seems. It includes two Decemberists concerts for me and Kris, and it also includes some of our television viewing. (Remember that Kris and I cut back to basic cable, and now we watch TV through Netflix and through the iTunes Music Store.) There’s also a one-time $236 event here that ought to have been a business expense. I’m not unhappy with my spending on Entertainment.
Pets (2005: $397.76, 2006: $471.03, 2007: $625.52, 2008: $378.75)
Many personal finance writers view pets as an unnecessary expense. To me, $35 a month to keep four cats is a bargain. It only costs me about a quarter a day for each animal, and they bring much more joy to my life than that. If Kris would let me, I’d be the “crazy cat lady” on the block. (Are there “crazy cat gentlemen”?) Note that our actual pet expenses are greater. Kris pays for their food, and that’s not reflected in these numbers
Vice (2005: $1055.33, 2006: $768.95, 2007: $431.89, 2008: $924.79)
This includes wine, liquor, pipe tobacco, poker nights, etc. I don’t smoke regularly, but I do smoke a pipe maybe a dozen times a year. Most of this expense is for alcohol at dinner parties and social gatherings. My alcohol consumption did increase during 2008, which is a concern, but that’s not the reason for the increased spending. For the first time ever, we bought a couple of cases of wine. This will actually reduce the “wages of sin” in the long run, but it bumped the number for 2008.

Although this report is interesting, there are problems with my methodology. For example, I’ve included my grocery spending above (although it’s not really discretionary), but have not included spending on exercise equipment (which is discretionary). Also, Kris pays for much of our grocery shopping. Because we keep separate accounts, her share of that expense isn’t reflected in these numbers.

In order to be consistent from year-to-year, however, I’ve elected to continue reporting the same expenses in the same ways. You’ll have to take my word that the figures here are representative of my spending as a whole. This annual report is sort of like tracking a stock market index, I guess. It doesn’t reveal nuances, but it’s still a useful indicator of the Big Picture.

So despite cutting back on the areas that are really important to me — books and comics — my spending increased. And most of that increase came from dining out.

How did you do on your spending goals last year? Are there areas where you wish you spent less? If so, what strategies do you use to keep yourself in check?

Source: getrichslowly.org

Apache is functioning normally

Apache is functioning normally

Contrary to what one might assume, United Airlines has more classes than just first, business, premium economy and economy. In fact, each of those cabins is divided into multiple fare classes, all designated with a different letter.

While it might seem like alphabet soup, the airline can use fare classes to know how and when you booked your ticket and how to upgrade it — if that’s what you want to do.

Let’s take a look at the United fare class chart, how to find the fare class on your ticket and why it’s smart to pay attention to your fare class in the first place.

What is a fare class on United?

All United cabins of service are divided into fare classes — sometimes called fare buckets — to keep track of the number of tickets sold on each flight as well as which seats are still available.

For example, if you’ve ever found a great deal on airfare and then the price went up before you could buy it, it’s likely because that first fare class sold out, even if there are still tickets available in that particular cabin.

Though there are similarities across airlines, each one labels its fare classes slightly differently. Here are United’s fare classes for each class of service on a paid ticket:

First/business class

  • Full fare: J.

  • High fare: C, D.

  • Discounted fare: Z.

  • Deep-discounted fare: P.

Premium Plus

  • High fare: O.

  • Discounted fare: A.

  • Deep-discounted fare: R.

Economy

  • Highest full fare: Y.

  • Full fare: B.

  • High fare: M, E, H, U.

  • Discounted fare: Q, V, W.

  • Deep-discounted fare: L, K, S, T.

  • Lowest discounted fare: G.

  • Basic economy: N (on domestic flights).

Note that tickets booked with miles come with their own separate set of fare classes.

How do I find my fare class on United?

When you’re shopping for a ticket on United, the fare classes are listed under each ticket type.

For example, in the screenshot below, the top flight from Chicago to Frankfurt, Germany, has the following fare classes: S in economy, R in premium economy and P in business. The bottom flight has the following fare types: S in economy, A in premium economy and D in business class.

If you’re shopping for a flight on an online travel agency’s website, such as Expedia or Orbitz, you should be able to locate the fare class under “Details” once you select your flights but before you enter your credit card number.

This ticket from Chicago-O’Hare to Frankfurt, Germany, has a fare class of S in the economy cabin.

🤓Nerdy Tip

When possible, book your flights directly with the airline. This way, you avoid having to deal with a third-party booking site in case you need to change or cancel the flight or if there’s a cancellation by the airline.

Why should I pay attention to fare classes on United?

There are some good reasons to pay attention to which fare class you’re booking. For one, your fare class can determine how quickly you earn elite status and whether you’re eligible for an upgrade.

Elite status qualification

Certain fare classes earn more elite qualifying miles and segments, which helps United MileagePlus members qualify or requalify for airline status faster.

Here’s how many Premier Qualifying Miles (PQMs) and Premier Qualifying Segments (PQSs) you’ll earn by booking specific fare classes on United.

Purchased fare class

Premier Qualifying Miles

Premier Qualifying Segments

P, O, A, R, Y, B

M, E, U, H, Q, V, W, S, T, L, K, G

As you can see, purchasing a first, business, premium economy, or full-fare economy ticket earns a bonus on both PQMs and PQSs. Basic economy tickets earn only 50% PQMs and 0.5 PQSs toward Premier elite status with MileagePlus.

Upgrade eligibility

To be eligible for an upgrade, you’ll need to have booked in the right fare class for the type of upgrade you’re requesting.

Complimentary Premier upgrades

If you’re a MileagePlus Premier flyer, tickets booked in certain fare classes are eligible for instant complimentary Premier upgrades (available on select routes). For example, economy tickets booked in fare classes Y or B for all Premier members, and tickets booked in fare classes Y, B or M for Premier 1K members, qualify for immediate upgrades to the premium cabin at booking.

The following routes are eligible for complimentary Premier upgrades:

  • Continental U.S. (except premium transcontinental routes).

  • Hawaii from Los Angeles or San Francisco.

  • Alaska, Canada, Mexico, Caribbean and Central America.

  • Guam and Micronesia.

Outside of instant upgrades, you can increase your chances of getting a complimentary Premier upgrade when you book a higher fare class than a fellow Premier member at the same status tier.

MileagePlus upgrades

If you’re not an elite flyer with United, you still have the option to upgrade a flight with MileagePlus miles. Depending on the fare class, your Premier status level and your flight route, you might be asked for a cash co-pay on top of the miles redeemed.

For example, tickets in fare classes B, O or Y don’t include a cash component. Tickets booked in most other fare classes will require a cash co-pay.

PlusPoints upgrades

Premier Platinum and Premier 1K members receive PlusPoints that can be used to upgrade United flights. Platinum members receive 40 PlusPoints upon reaching their status tier, and 1K members get another 280 PlusPoints, totaling 320 PlusPoints toward upgrades.

United charges 40 PlusPoints for upgrades from economy to Polaris business class and 80 PlusPoints for upgrades from discounted economy to Polaris on long-haul flights. So, if your ticket’s fare class is S, T, L, K or G then you’ll need 80 PlusPoints for an upgrade to Polaris. Otherwise, you’ll just need 40 PlusPoints for your upgrade.

Additionally, if you’re a Premier 1K member, some fares make you eligible to skip the waitlist and confirm an upgrade right away, as long as your flight is on an eligible international route and is more than 30 days out. Those fares include:

  • From United economy to United Polaris business class: Y, B, M, E, U, H, Q, V and W.

  • From United economy to United Premium Plus: Y, B, M, E, U, H, Q, V, W, S, T, L and K.

When crediting miles to a partner program

Another time you should pay attention to fare classes is when you’re crediting a flight to a partner program. Say you’d rather earn miles with Air Canada Aeroplan, who is a Star Alliance partner of United, and you want to know the earning rates.

You’ll earn the following number of Aeroplan points and Status Qualifying Miles (SQMs) when crediting paid United flights to Aeroplan:

If you’re a member of multiple airline loyalty programs and can’t decide where to credit your flight, check out WhereToCredit, a website that shows you how many miles you’d earn in any frequent flyer program for a particular flight. This can help you make sure you’re earning the highest possible number of redeemable miles.

Let’s say you’ve booked a United economy ticket in fare class V and want to know where to credit this flight. Go to the WhereToCredit website, select the airline and fare class and view the results.

Based on the results, you’d earn 5 miles per base dollar spent on the ticket with United MileagePlus (as a general member), 50% of the flight distance with ANA Mileage Club and Miles & More and 75% with all the other partner programs, so you can take your pick of the programs earning more miles.

How can I book specific fare classes on United?

Travelers often don’t care which fare class they book as long as the ticket price is low. However, if you’re chasing status or want to book an upgradeable ticket, there are ways to search for specific fare classes on United.

Go to United.com and select “Advanced search.”

Enter your flight search details as usual and scroll down until you see a “Fare class” box. Fill in the fare classes you’re looking for and click on “Find flights.”

On the results page, you’ll see the regular search results for all other booking classes as well as a column with the requested fare classes.

This way you can compare ticket prices and decide whether booking a specific fare class is worth it or not.

United fare classes recapped

The United fare class you’ve booked can make all the difference between qualifying for an upgrade or not, how much the upgrade is going to cost in miles or cash, and how many miles and segments toward elite status you’ll be earning.

United makes it easy to find your specific fare class before or after you book a flight. It’s smart for United elites in particular to pay attention to fare classes, as booking the right one could make you more likely to score an upgrade.

How to maximize your rewards

You want a travel credit card that prioritizes what’s important to you. Here are our picks for the best travel credit cards of 2023, including those best for:

Source: nerdwallet.com

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Editor’s note: This is a recurring post, regularly updated with new information and offers.

Capital One VentureOne Rewards Credit Card overview

The no-annual-fee Capital One VentureOne Rewards Credit Card (see rates and fees) offers the same great redemption options as its sister cards, the Capital One Venture Rewards Credit Card (see rates and fees) and the Capital One Venture X Rewards Credit Card (see rates and fees) — but with a lower rewards rate and fewer perks. The miles earned on the card can be transferred to Capital One’s 15-plus airline and hotel partners or redeemed directly as a statement credit on eligible purchases. Card Rating*: ⭐⭐⭐

*Card Rating is based on the opinion of TPG’s editors and is not influenced by the card issuer.

No matter which card from the Capital One Venture family you choose, all three options offer simple earnings structures, 17 airline and hotel transfer partners and easy-to-use rewards.

For those who like a straightforward option for earning and redeeming rewards, you can also use your miles to “pay” back travel purchases charged to your card in the past 90 days.

If you’re on the fence about paying an annual fee, you’ll want to take a look at the Capital One VentureOne Rewards Credit Card.

Capital One VentureOne welcome offer

The Capital One VentureOne comes with a sign-up bonus of 20,000 bonus miles once you spend $500 within the first three months from account opening. Based on TPG valuations that peg Capital One Venture miles at 1.85 cents apiece, this sign-up bonus is worth $370.

That’s significantly less than the Venture card’s bonus, which is currently at up to 75,000 miles after you spend $4,000 on purchases within the first three months of account opening, and valued at $1,388 by TPG.

However, the 20,000-mile bonus is still higher than what many other no-annual-fee cards offer. Additionally, the spending requirement for the VentureOne card’s bonus is much easier to meet than the Venture card, with it requiring just $500 in spending.

ZACH GRIFF/THE POINTS GUY

Earning miles on the Capital One VentureOne

The VentureOne earning scheme is similar to the $95-a-year Venture card but with a slightly lower return on everyday spending.

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You’ll earn a flat 1.25 miles per dollar on everyday purchases, which equates to a solid 2.33% return using TPG valuations. While decent, it isn’t the best return for everyday spending. However, the benefit of an unlimited earning rate is that you don’t have to keep up with multiple bonus categories — exchanging simplicity for maximizing value.

Plus, if you are booking hotels and rental cars through the Capital One travel portal, you’ll earn 5 miles per dollar on those reservations — a solid 9.25% return.

Redeeming miles on the Capital One VentureOne

You have a few options when it comes to redeeming Venture miles.

The most straightforward way is to use them to pay for eligible purchases as a statement credit. This allows you to sign in to your Venture Rewards online account and redeem miles at a flat 1 cent apiece for a statement credit against eligible travel purchases you’ve made with the card in the last 90 days.

This includes many travel expenses that traditional miles won’t cover, from Uber rides to Airbnb stays. There are no award charts, blackout dates or minimum redemption amount.

Related: Use your Capital One Venture miles to stay at these 10 stunning Airbnb homes

NICKY KELVIN/THE POINTS GUY

However, to get more value from your sign-up bonus, you should try the more advanced redemption option — maximizing Capital One’s transfer partners. Capital One has 17 airline and hotel partners to which you can transfer your miles, including Avianca LifeMiles, British Airways Avios, Etihad Guest and Turkish Airlines Miles & Smiles.

This redemption option is slightly more advanced than just redeeming against charges at a fixed value, but it’s not as difficult as it sounds. We have plenty of guides that will teach you how to best redeem your miles using transfer partners:

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Capital One VentureOne benefits

The VentureOne card comes with the standard suite of World Elite Mastercard travel and shopping benefits, including:

In addition to these World Elite Mastercard perks, the VentureOne is among the few no-annual-fee cards with no foreign transaction fees, making it a great option to use outside of the U.S. Benefits are only available to accounts approved for the World Elite Mastercard card, and terms apply.

Which cards compete with the Capital One VentureOne?

If this card sounds pretty appealing, know that there are actually several no-annual-fee cards that compete with the VentureOne, plus its older sibling:

For additional options, check out our full list of the best no-annual-fee cards.

Read more: The power of the Chase Trifecta: Sapphire Reserve, Ink Preferred and Freedom Unlimited

Is the Capital One VentureOne worth it?

The VentureOne is a solid no-annual-fee option for those who still want a healthy sign-up bonus, reasonable perks and the ability to transfer points and miles directly to travel partners. However, you can get a higher earn rate on everyday purchases by getting a Venture card with an annual fee.

Bottom line

In addition to its perks and sign-up bonus, the Capital One VentureOne Rewards Credit Card also beats other no-annual-fee cards for perks such as purchase protection and no foreign transaction fees. It’s a budget-friendly option for Capital One fans and frequent travelers alike.

Official application link: Capital One VentureOne

For Capital One products listed on this page, some of the above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.

Additional reporting by Ryan Wilcox and Stella Shon.

Source: thepointsguy.com