Right around now, most consumers are laying plans to intensify their spending frenzy for the final month of the year. After all, what better way to celebrate the holidays and the accompanying temporary freedom from work, with additional financial bondage to that very job?
Since you and I generally don’t participate in the games of the retail industry, I thought we could celebrate US Thanksgiving and its spendy neighbor Black Friday in a different way: by renewing our vows to lead a more meaningful, vigorous, innovative, and generally awesome life. Badass Friday is what we could call it, and it should be an annual tradition.
Gifts and Traditions
Around this time of year, I start getting emails from thoughtful readers with questions about the holidays: “What does the MMM family do about the Christmas gift exchange tradition? What about birthdays and other holidays?”
The answer to this one is just what you’d expect from Mr. Money Mustache: We skip the whole retail aspect of it entirely. In the wise words of Grandpa Money Mustache: “A Simpler Christmas is a Grander Christmas“, and you can read more about it in the holiday MMM Classic entitled Happy Buy Nothing Day.
Little MM tends to make his own gifts for giving: these handy notebooks for his parents were big hits.
In our old age, we’ve become much more interested in using surplus cash to help others. We have committed not to inflate our own lifestyle beyond its already-cozy level, and also believe in letting our son earn his own way to financial independence when he grows up, rather than leaving a large estate. This should leave several million dollars free throughout our lifetimes to do other things, and I basically follow the ideals of the Gates Foundation* when it comes to efficient charity. Other favorites include Charity Navigator, DonorsChoose.org, and GiveWell.org.
But we’re still big on tradition in our family. Not the traditions prescribed in ancient texts and scrolls, but generally sillier ones we invent ourselves and carry on just because they are fun.
Every Friday, the arrival of the weekend is celebrated with Family Movie Night. Every meal, even breakfast, is served by candlelight. And self-imposed blackouts are frequent: besides our our ongoing freedom from TV (a tradition which started in 1999), we also have a weekly No Computer Day, and even occasional No Electricity Nights. That last one came about two years ago, when I received a power failure for my birthday and we all enjoyed it:
Mr. Money Mustache Receives the Gift of Hardship for his Birthday
Preparation for a New Season
For the roughly 60% of MMM readers who live in Northern climates, winter means cooler weather and a time when those of weak constitution turn to automobile travel and indoor recreation. Not the Mustachians: we simply brush up on our winter survival skills and apply them with renewed gusto:
How to Ride your Bike All Winter – and Love it
MMM Challenge: Try Getting your Groceries with a Bike Trailer
First Understand, Then Destroy, Your Home Heating Bill
The Oil Well You Can Keep in Your Pants
So Happy Thanksgiving to all, when we will give thanks for all the good things that we have, and equal thanks to all the unnecessary ones we don’t crave.
*The Gates Foundation: The ruthlessly efficient businessman applies infinite wealth and intellect towards the problem of saving the world. In a nutshell: our biggest problem is too many humans, because of the famines, wars, and environmental problems that happen when you greatly exceed the productive capacity of the planet. Solve this, and all the other problems start to solve themselves. The solution is to give us the strength to reproduce less. Most of the population growth currently comes from the poorest countries. But quite counter-intuitively, the way to reduce the birth rate in these countries is to improve health, prosperity, and education. See the amazing (and short) video called “The River of Myths” for why this works.
I suppose I can’t blame him, because this IS pretty nice. It’s Monday morning, and I just dropped him off at school, rode the mountain bike and trailer back home through the deep and fluffy remnants of the latest snowstorm, and settled in with this laptop and my sunny, empty house to compose my thoughts for you. Greg Reitan is playing some wicked Jazz piano in the background via Pandora, and my belly is nicely satisfied with fine coffee and a bowl of almonds. The rest of the world is out commuting on an icy highway or dialing into the conference call while seated in the cubicle. This is the life for me.
But is it the life for an eight-year-old?
Although he has made it to the second half of second grade with great success, my boy has softly been singing an underlying chorus of “I don’t want to go to schooool!” since long before Kindergarten. The song fades away on the good days, because there are occasional bits of learning and he has several great friends among his classmates. But then he gets a taste of freedom again, like the two-week Christmas holiday that just ended an hour ago, and it reminds him of how much more he enjoys not being in school. Our holiday together was a beautiful blur of late nights, family board games, friends, movie nights, adventures at the creek, sunshine, drawing pictures, and making songs with Ableton Live and elaborate automated buildings in Minecraft. When he realized it was truly over last night, he cried so much that he had trouble getting to sleep.
I can’t blame him, because this feeling about school and organized activites in general tends to run in my side of the family. I remember finishing the nine-year sentence in my own small town K-8 elementary school wondering if I had learned anything during the entire session. High school became more interesting because of some inspiring teachers in Science, Math, and English (and because of the girls). And Engineering school, while painful, was motivating because I knew there was freedom and an excellent paycheck waiting right at the end of the tunnel. But since finishing that whole affair, I have never looked back other than to marvel at how different than me the folks who pursue graduate degrees and PhDs must be. A brilliant nephew of mine finds himself in a similar boat: my sister described his school years as “A quiet rebellion of boredom”, although he has awakened now that he is among other whiz kids in the Computer Science program of his country’s top university.
Some of us just really enjoy our freedom, and we use that freedom for constant learning of the things we really want to learn, and creating the things we really want to create. This is surely why I quit even the relatively free environment of the corporate office: to get all my time back for truly self-guided pursuits. And I suspect this personality type is common among the Mustachians as well: you don’t have any trouble keeping yourself busy, the only issue is freeing yourself from the busywork that others keep assigning to you.
But how do we handle it when a kid discovers this obvious source of joy less than 3000 days into his life? Under the current regime, the poor lad is scheduled for about fourteen additional years of school, at which point he’ll to need work and save for another decade to earn his financial independence. I could allow him to cheat the system by setting aside a trust fund that made work (and school) optional at any point, but I do not want to deny him the soul-building satisfaction of good old-fashioned hard work, and the incomparable advantage of having to work for what you get.
But at the same time, there is surely some benefit I can pass on from this clearly advantaged position. Compared to my own parents at a similar stage in 1982, Mrs. MM and I have much more secure finances, one child instead of four, unlimited free time to spend with him, and the resources of the Internet from which to pull knowledge. There are thousands of other parents of bright but slightly bored kids reading this who might have some ideas. With so many advantages, it would be a cop-out for me to just leave my son to follow exactly the same path I walked 32 years before him, without at least questioning The Rules.
We would not be the first people to do so. I was recently inspired by this TED talk by Ken Robinson, which eloquently explains that despite its best efforts, the school system does tend to crush creativity. Adding to that idea, there’s this ambitious 13-year-old lad that did his own TEDx Talk about a self-guided “Unschooling” or “Hackschooling” education.
By now you’ve probably learned that a formal university education is only one of many paths to a good life. Bill Gates and Steve Jobs were dropouts. Free and inexpensive learning spots like the Khan Academy and Treehouse abound. My own posts on jobs without a degree are some of the most widely read on this site. Heck, there is a 23-year-old college dropout staying in my guest suite right now, who founded his own successful company several years ago which now allows him to lead a life with greater freedom than I had at that age. He’s here to have an adventure and to learn new skills, in a completely non-academic environment. But all this still leaves the question of how to motivate your very young kid without denying him the benefits of school.
So we don’t have the answers yet. My boy is excited that he has gained admission to a special program within the school that allows kids in this situation to leave class twice per week and gather with a special teacher to cover more interesting material. We could try an Unschooling experiment next year, spending a portion of it living in another country (I’m partial to New Zealand myself, and then perhaps Ecuador the next year). The regular school is well-run and has the best intentions, but learning formalized material in a big group is very slow and is bound to leave a certain portion of the kids spending 90% of each day waiting for what is next. Or missing recess because some other kids were talking when the teacher had declared that talking was not allowed. And the charter and private schools I’ve encountered around here all seem to emphasize even more academic rigor and discipline, rather than more freedom to roam and learn.
Unfortunately, I think that purely hanging around at home would be unsuccessful. We could learn much more quickly, but there are only three of us here – not enough people to provide a truly rounded social education. Plus there is the selfish issue: both my wife and I benefit greatly from having a few hours on weekdays to do our own things. After all, this blog is not going to write itself.
What do you think? Have you encountered this problem with your own children?
Ideally, we could gather and form communal unschooling environments with five or six cool kids, and the problem would be solved. I could teach them writing and carpentry, you could teach them filmmaking and math, and some of our other friends would handle the sports, physics, chemistry, and whatever else they want to learn. We’d take plenty of field trips as well.
The more conservative standardized-test-loving government officials and administrators of the world might frown upon us, but we’d probably end up with a batch of very creative, happy, and motivated young adults, which is really the primary job that we sign up for when we produce these fine little creatures.
America is more than a little dog crazy: The percentage of households with a canine rose from 38.4% in 2016 to 44.5% in 2022. Owning a dog can be one of life’s great pleasures, whether you choose a tiny toy Poodle or a mega Great Dane as your new best friend.
But amid imagining all the cuddles and sloppy kisses, many prospective pooch parents aren’t fully prepared for the expense of owning a pet. You might wonder: “How much should I budget for a dog?”
This can be an important question because not only can dog ownership be a huge personal commitment, it can also be a considerable financial investment too. The initial first-year investment has been estimated at between $1,135 and $5,155.
If you’re contemplating bringing home a new pooch, here’s the information you need to know about budgeting for a dog and how much it really costs.
Adoption Costs
The initial cost of adopting a dog can vary greatly depending on if the dog comes from a shelter or purchased from a breeder. As a range, however, Animal Humane Society sets its standard dog and puppy adoption fees between $215 to $414.
The fee cost varies, as some dogs (such as purebreds) are in higher demand and the organization needs to cover the cost of caring for animals who may take longer to adopt out (such as older dogs).
At many pet rescues, adoption fees also cover the cost of extra services, like a pet physical exam, deworming, spaying or neutering, or common vaccinations.
Meanwhile, buying a Goldendoodle from a breeder costs an average of $2,200. Purchasing a pet from private breeders, often, does not come with the extra services that some non-profit rescues cover. So, if an owner is considering the breeder route, the out-of-pocket cost of future medical visits, may be one more dollar sign to add to the eventual pet budget. This can help you know how much to allocate towards your new companion so you can avoid ending up with credit card debt.
Recommended: Tips to Save Money on Pets
Food and Treats
Some of the tiniest puppies can morph, in just a few months or years, into heftier eating machines. Young puppies can grow quickly. And, all that fast growth can mean they’ll eat…A lot.
So, food and treats can also play a significant role in your personal budget when you bring home a furbaby. Individual dog budgets can vary based on the size of the pooch and type of food each owner opts to feed their pet. Food choices might include dry kibble, wet food, a raw food diet, or some mix of each.
What to feed a dog is all a personal choice between the owner and their veterinarian. However, if someone is looking to estimate the potential cost of feeding a new dog, a recent survey estimates that pet parents can expect to spend about $287 a year on dog food and $87 on treats.
Recommended: Ways to Save Money on Food
Toys
Toys may seem like a silly little add-on, but they can play an important role in puppy development and adult dogs’ mental stimulation.
Toys can help dogs fight boredom when they are left at home alone and comfort them if they’re agitated. (With toys to gnaw on, dogs may be less likely to turn to shoes for a midday distraction.) Rather than investing in pricey toys, a simple tennis ball will satisfy many dogs. And, a dog owner can grab a can of three tennis balls on Amazon for about $4.
However, the cost here can also depend on just how quickly an individual dog chews through the balls. Some doggos do a great job of tearing them apart. So, a pet owner may want to budget a small amount, say $50 a year or so, to buy their pooch some toys.
Ready for a Better Banking Experience?
Open a SoFi Checking and Savings Account and start earning 1% APY on your cash!
Pet Sitters or Walkers
Taking a vacation with a pet? Then pet sitting isn’t an expense. But for many people who work outside the home or travel without Fido, it may be a good idea to consider a dog walker or pet sitter. This person can be a trusted friend or family member, a neighbor, a kid down the street, or a professional service.
Even if it’s a friend, a new pet owner may want to budget in some dollars to pay this person. Doggie daycare can run $30 or more per day, so it can be helpful for owners to know how many days each month they might need a dog sitter. A typical pet sitter will charge at least $30 a day to attend to your pup.
Recommended: Tips to Cut Costs When Traveling with Pets
Incidentals
A lot of smaller expenses can come with owning a dog. Incidentals to budget for include things like, collars, leashes, dog beds, cleaning supplies, crates, pet bath products, and the all-important groomer.
Some may want to build in another cushion in a pet budget to cover the above-mentioned items, too. Pet I.D. tags and registering a pet with the city are extra costs to bear in mind. (For reference, it can cost between $8.50 and $34 a year to obtain a dog license in New York City.)
Routine Medical Visits
Dogs, like humans, need regular medical check-ups, so “How much will it cost?” is a wise question to ask when budgeting. Just like a human exam, dogs need blood drawn to check for diseases, routine vaccinations to prevent disease, and a general physical exam once a year to make sure their health is in working order.
Some pet organizations estimate this visit can run a pet owner between $210 and $260, but it can vary greatly depending on where the person and the pup live (and the age or breed of the dog). Given that variation, it can be helpful to budget at the higher end of that range (just in case).
Beyond the vet visit, pet parents may also want to add in a budget for preventative medicine. Depending on where an owner lives, a veterinarian could recommend a monthly flea and tick medication, along with regular heartworm medication, to prevent the dog from becoming afflicted. Flea and tick meds can range from $40 to $200 a year while heartworm medication averages $80 a year, and treatment, if your pet is diagnosed, can cost $400 to $1,000.
Pet Insurance
While pet insurance won’t cover routine veterinary visits, it could come in handy if an emergency occurs with the pup.
For example, a new dog could eat something that causes it to get sick — like, ingesting pieces of a chew-toy or snatching food with bones in it off an owner’s plate (or street).
Many pet insurance plans will cover a portion of medicines, treatments (including surgeries), and medical interventions that aren’t tied to a pre-existing condition.
Paying monthly for pet insurance, while the dog is young, could save an owner hundreds or thousands of dollars as a dog continues to age as well. (Generally, pet insurance costs less when a dog is younger). This kind of policy typically costs between $38 and $56 per month.
Pet insurance may cover things like ingesting harmful items or food, accidents, urgent care, and — in some cases — preventative medicine. The cost of pet insurance can vary by breed, age, and any other health history.
Emergency Fund
It can be wise to save up an emergency fund for pet-related expenses. Things just tend to happen with dogs around. They can accidentally knock things over with their tales, swallow objects. and need an emergency vet visit. Dogs can do a lot of damage in a short amount of time (ahem, chewed up leather shoes, ahem).
But, guess what? Having some financial discipline and going to that trouble can be worth it for a lick on the face, a little playtime, and coming home to a happy dog. Planning ahead for a pet budget can help new owners focus on those tail-wagging moments with Fido instead of stressing over canine costs.
The Takeaway
Saving in advance can make adopting and then caring for a dog easier. A SoFi Checking and Savings Account can be a great place to stash your money. It includes budget tracker tools, charges no account fees, and offers a competitive annual percentage yield (APY).
Ready to adopt a pup? Track your spending (and establish a dog budget based on your habits) with SoFi Checking and Savings.
The SoFi Bank Debit Mastercard® is issued by SoFi Bank, N.A., pursuant to license by Mastercard International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.
SoFi members with direct deposit can earn up to 4.20% annual percentage yield (APY) interest on Savings account balances (including Vaults) and up to 1.20% APY on Checking account balances. There is no minimum direct deposit amount required to qualify for these rates. Members without direct deposit will earn 1.20% APY on all account balances in Checking and Savings (including Vaults). Interest rates are variable and subject to change at any time. These rates are current as of 4/25/2023. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances. Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners. SOBK0423060
All I have to do is turn on the news to be reminded of that.
I think it’s easy to go about our day-to-day lives and forget that bad things can happen – until suddenly they do.
Speeding down the highway. Smoking cigarettes (or anything else). Driving after one too many drinks. All of these are examples of risky behavior. Could you do it and be fine? Maybe. But each of these behaviors carries an element of risk of harm to yourself and others.
The sad truth is that risky behavior sometimes ends in tragedies – some worse than others.
And sometimes, we don’t even realize how much risk we’re taking until something unexpected happens that changes how we think about what we’re doing.
The truth is, whatever you do in this life carries a degree of risk.
But there’s another side to this coin.
Benjamin Franklin is credited with saying, “Nothing ventured, nothing gained!”
That’s true. I get up in the morning and work hard because I believe and hope that I can make a difference in the world. I take risks, just like you do – and that’s okay.
Some of those risks turn out in my favor; others do not.
And when it comes to investing, believe me, there’s a lot at stake.
It’s possible that your retirement may last not 10, not 20, but 30 years. Think about it. Life expectancy in the United States is going up; that’s a good thing, but you better have some dough in your portfolio before you can’t work anymore.
One might be able to – barely – live on Social Security benefits right now, but if you’re years and years away from retirement, you surely don’t want to count on the government to solve your financial woes.
It’s better to have a plan.
And yes, that plan will come with a serving of risk – whether or not you dish up a generous helping of it is up to you.
The Former Difficulties of Assessing Risk Tolerance
Here’s the all-too-common scenario that played out in my office.
I’d sit down with a new client and we’d discuss their risk tolerance. I’d simply ask something like, “On a scale of one to ten, how much risk do you normally like to take – ten being a lot of risk and one being very little risk.”
The problem is that not everyone has excellent self-reflection capabilities and sometimes, in real-world scenarios, the way they behave differs from how they thought they would behave.
That’s troubling, because if I put a person’s money in risky investments – investments that have a high potential to do very well or very poorly – and they actually can’t stomach that risk and pull out of the market early because of a drop in value, they’ll probably lose money permanently.
Conversely, if I put a person’s money into stable investments and they don’t see the results they’re after, they might choose to walk out the door.
So the question is, how can I get past what people think they know about themselves and to the core of who they really are? How can I determine their true risk tolerance?
It eluded me for years. Thankfully over time, I’ve gotten much better at objectively assessing my clients’ risk tolerance – but a new tool I recently found is taking my ability to a whole new level.
The Simple Way to Find Out How Much Investing Risk You Can Stomach
It’s called Riskalyze, and it rocks.
In a nutshell, Riskalyze measures your degree of risk tolerance using carefully-chosen questions and gives you a Risk Score. The higher your Risk Score, the more risk you’re willing to take.
And here’s the cool part: it only takes less than two minutes to get your Risk Score.
Oh, and did I mention it’s free?
Your Risk Score can be used to compare your risk tolerance with your current portfolio. And guess what? We’re happy to do that for you – no charge there, either.
If you ever have questioned if you’re on the right track with your investments, take this opportunity to find out. It is by far the easiest method I know of to get the information you need to make the very best investment decisions.
In the report, you’ll learn the following (and more):
How long your nest egg will last
How risky your portfolio is
How inflation might impact your retirement plan
How buying a second home would affect your retirement goals
How conservative or aggressive your portfolio is
How likely you are to have the ability to retire by a certain age
How your current savings rate will affect your retirement
Ironically, you can avoid taking bad risks by finding out your Risk Score. Should we find that your portfolio doesn’t align with your retirement goals and risk tolerance, we can help find the right investments for you.
Many times, we’re taking risks and we don’t even know it. I’ve seen people take huge, unwise risks simply through inaction.
Remember, what you don’t do can be just as risky as what you actually do.
But one thing is certain . . . .
There’s nothing wrong with gathering information and looking at the facts.
Should you find all is well, great! Should you not, we’ll give you a plan.
Wanna see how this works? I created a short video here that will walk you through exactly how Riskalyze and the Retirement Map Analysis operates so you know what to expect. No gotchas – just free, customized information so you can make the best investment decisions for you and your family.
And hey, if you decide you need some help with your portfolio, we’re always happy to offer assistance.
Ready to Get Your Free Risk Score?
Just click to button below to begin the process. After you complete this very short questionnaire we’ll need to get a bit more info to complete your personalized Retirement Map Analysis.
Either click the button above or you can click HERE to get your free Risk Score.
By the age of 14, Michael Templeman was already smitten with mid-century modern furniture. He loved the sleek elegance. The sensuous biomorphic shapes. Eames, Nelson, Noguchi, and Saarinen were more than furniture makers to him. They were designers—turning post-war materials and technologies into furniture that stacked, flexed, and folded in ways never before possible. The organic-shaped, low-slung furniture seemed to encourage conversation and relaxation and made possible the dream that every American could furnish their home beautifully.
After years of personal collecting, Templeman began to help buyers select pieces that would suit their personalities and enhance their living spaces. He opened Tomorrow’s House, a retro/vintage furnishings store located in the heart of the 9th & 9th neighborhood. Tomorrow’s House features mid-century modern originals while also bringing in fresh, relevant “now” pieces.
Tomorrow’s House 937 East 900 South
But the retail store was just the beginning. Joining forces with Johnny Duncan, operations and marketing specialist, Michael began using the store’s inventory to stage homes. The store allowed for a constant influx of new furnishings, which meant each home could be staged to make the most of its potential and improve its value.
Templeman and Duncan named the staging business “Case Study Staging” after the Case Study Houses built in the 1940s and 50s. The company stages entire homes or just a room or two, always with an eye to how they can customize the treatment to highlight the home’s unique features. Their full-service offerings include:
Free initial walk-through and assessment
Weekend open house stage
Partial stage (living room, dining and kitchen)
Full stage (living room, dining, kitchen, master bedroom, master bath and hall bath)
Homie first became aware of Case Study Staging when the team staged a condo in downtown Salt Lake. On the initial walk-through, Templeman and Duncan pointed out a few pre-staging projects to the owner. These projects were the kinds of things an owner stops seeing after living in a house for awhile, but that feel like a poke in the eye to potential buyers. The owner liked the suggestions and readied the house by painting, cleaning, and making a few repairs. Then it was time for staging.
This condo had a gorgeous view of downtown Salt Lake City. Templeman and Duncan knew they needed to draw potential buyers through the home and invite them to slide open those patio doors and step out to enjoy the view. So, they staged the patio for free.
At Homie, we always keep an eye open for professionals who can take extra good care of our customers and were impressed with Case Study Staging. Each home they staged was not simply a process of moving the same furnishings around from house to house. Rather, they constantly accentuated individual home features with new quality pieces, making each house feel unique and fresh.
If you’re considering selling your house on Homie, we encourage you to have Case Study Staging come out for an initial walk-through. These guys will see your home from the inside-out, recognize its strengths and weaknesses, and show you how to bring out its best shining self.
And for Homie customers, Case Study Staging offers a 20% discount, making their services more than affordable for any size home. Find them on Homie’s Provider Marketplace today.
Congress has finally passed a second stimulus package to combat the massive COVID-19 economic impact. The $900 billion package covers stimulus checks, unemployment boost, small business aid, school and public health funds, rental and nutrition assistance and a ban on surprise medical bills. Many Americans feel the proposed measures are not enough. Here’s what made the cut:
$600 for each adult per household
Based on 2019 income, single people with an income up to $75,000 will receive $600. Married couples earning up to $150,000 will receive $1,200. While immigrants without Social Security numbers are not eligible, the rest of their household can qualify if they meet the other eligibility requirements and hold an SSN.
$600 for dependent children
Each eligible household will receive $600 per dependent child. Only dependents under the age of 17 qualify — leaving out older high school children and college-aged dependents.
[ Read:11 States Stepping up to Supplement Unemployment Benefits]
$300 a week in unemployment aid
The stimulus bill includes an extra $300 per week as part of federal unemployment benefits. This boost for jobless workers will only run for 11 weeks, through March 14. The bill will also extend the Pandemic Unemployment Assistance program, which will offer benefits to the self-employed, independent contractors and gig workers for 11 weeks. The Pandemic Emergency Unemployment Compensation (PEUC) will also be extended and cover additional weeks of jobless aid to people who have run out of their state unemployment benefits.
$325 billion for small businesses
As part of the Paycheck Protection Program (PPP), $284 billion in aid will go to forgivable loans and allow businesses with fewer than 500 employees to cover essential expenses, including rent, payroll and utilities. A total of $15 billion allocated for the Save Our Stages Act will go to movie theaters, live venues and cultural institutions.
Minority small business and businesses in low-income communities
Some of that funding will also assist even smaller businesses through lenders like the Minority Depository Institutions after the first round of PPP loans faced backlash for overlooking minority-owned businesses. Twenty billion in Economic Injury Disaster Loans will be set aside for business in low-income communities.
[ Read: Best Small Business Loans for 2020 ]
$82 billion for schools and child care
Child care providers, K-12 schools and colleges may be granted aid from this portion of the fund. Elementary and Secondary School Emergency Relief Fund will receive $54.3 billion and the Higher Education Emergency relief Fund will get $22.7 billion. Money allocated to these funds from the CARES Act was mostly dedicated to technology for remote learning, supporting nutritional services and given to students through emergency financial aid grants.
$69 billion for public-health measures
Vaccine distribution, testing assistance and tracing measures will also receive funding. This portion of the bill is also for hospitals and healthcare providers to receive reimbursement for healthcare-related expenses and lost revenue related to the pandemic. The Centers for Disease Control and Prevention (CDC) will also receive $9 billion for vaccination efforts.
In this article
$45 billion for transportation
Airline payroll support will receive $15 billion; state highways get $10 billion, airports and related businesses receive $2 billion and Amtrak is allocated $1 billion in funding. MTA is designated $4 billion as well. The funding is intended to support transportation jobs and COVID-19 financial impacts.
$ 25 billion in rental assistance
The bill will offer $25 billion in rental assistance and an extension of eviction moratoriums until January 31, 2021. The rental relief can be used for future rent and utility payments or any back owed rent.
[Read: Landlords Are Exploiting Loopholes in the Eviction Moratorium ]
$13 billion in nutrition assistance
The Supplemental Nutrition Assistance Program (SNAP) will be raised by 15% for six months. This program supplies food stamps to labile families. $175 million will go to nutrition services for seniors like Meals on Wheels and the Commodity Supplemental Food Program. The bill will also provide $400 million for food banks and pantries through the Emergency Food Assistance Program.
A ban on surprise medical bills
Surprise billing for out-of-network emergency care, most out-of-network care at in-network facilities and air ambulance services has been banned. Patients will instead be asked to pay in-network obligations. The goal is to protect insured patients who inadvertently received out-of-network care and a big bill.
What’s not included in the bill
Although the package is half the size of what was provided last Spring, a few key components were skipped out on this time around.
Liability protection from COVID-related lawsuits for universities, health care centers and businesses has not been extended.
State and local governments will not receive any direct aid in this stimulus package. This includes funding for Medicare, teachers and first responders.
The pause on student loan payments was not extended in this stimulus package. Beginning next month, students will be expected to resume monthly payments on their federal student loans.
We welcome your feedback on this article. Contact us at [email protected] with comments or questions.
You dutifully filed your taxes by April 15th, and now you’re waiting for Uncle Sam to deposit that extra cash into your account. While it may seem like a license to splurge on that new pair of shoes or a trip to your city’s hottest new restaurant, do yourself a favor and think smart when it comes to your tax return refund.
How Many Americans Are Getting a Tax Refund?
According to The Motley Fool website, about half of all Americans will receive a refund in 2017. The highest percentage of those lucky guys and gals fall into the Millennial category, with 66% of those who filed seeing some cash coming back their way. Approximately half (49%) of the Generation X category of taxpayers will get a refund. Unsurprisingly, as your age category goes up, you’re less likely to see money back from the government: only 34% of Baby Boomers will get a refund.
How Do Most Americans Spend Their Refund?
While you might think a windfall from your return is a cause for most people to splurge, today’s economy says different. Bankrate.com, who’s been studying the tax return spending habits of Americans since 2010, says their research shows only 6% of U.S. adults who are getting some money back from the IRS are planning a vacation or shopping spree. Instead, the highest rate of Americans since the study began are planning on spending it on things they need, such as bills or food. Additionally, 34% plan to save or invest it, while 27% will use it to pay off some of their debt.
What Should I Do With My Tax Refund?
Here’s some unique ideas of what you can do with that tax refund, other than reworking your wardrobe:
Start an Emergency Fund. Unexpected car repairs, getting laid off from your job or even medical bills can jump out at any time. Having a cushion can be crucial.
Invest in Your Retirement. OK, we know it’s not the sexiest thing you can do with your money, but you’ll appreciate it in the long run.
Increase Your Education. Learn more about a hobby you love or more skills for the job you want to move into. Knowledge is power.
Donate to a Charity. Give some money to a cause you love. Even a small amount helps.
Upgrade Your Apartment. Need more space? How about just giving your current apartment a new look? That return can make that possible.
Change the Way You Eat. If you have a pantry full of ramen noodles and stale tortilla chips, now’s your chance to invest in the good stuff. Maybe even take a cooking class?
Pay Off Those Credit Cards. Start with the high interest ones and work your way down. Your monthly budget will appreciate it.
Take Some Time Off. Take unused vacation days and go somewhere you’ve always wanted to. You’ll be more rested and more productive upon your return.
What are you planning on doing with your tax return? Did you even get one this year? Get chatting below!
Inside: Do you want to make quick money? If so, you’ll love this collection of ways to make cash in one day. Start these tasks and start making extra cash fast.
In today’s world, there are many ways to make quick money in one day.
The internet and technology have created opportunities that were non-existent just a few years ago. You can now make money in your PJs from the comfort of your own home! I do!
We all have those times when we need cash fast. Maybe it’s for an emergency car repair, an unexpected medical bill, or a last-minute plane ticket home.
Whatever the reason, there are plenty of ways to make quick money in one day.
We will include some of my personal favorites as well as methods I researched.
In today’s blog post, we will outline the best ways to make quick money in one day.
How can I make immediate money?
If you need immediate money, you need to look for ways to get cash in your hand quickly.
This would be by selling your possessions, participating in focus groups, find a gig job that pays cash tips.
These ideas will get cash in your hand within 24 hours.
How much money can I make in one day?
Many people wonder, “How much money can I make in one day?”
The amount of money you can make in a day depends on a variety of factors, such as your job, side hustles, and financial opportunities.
With a bit of hustle, creativity, and smart financial decisions, it is possible to make up to $1,000 a day.
However, you need to develop a smart strategy for achieving this goal. Investing in education will help you put that money to work growing for you.
This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.
50 best ways to make quick money in one day
Making money quickly is possible with some time and effort.
There are a lot of ways to make quick money in one day. In fact, many ideas center around how to make money online for beginners.
Here are 50 of the best methods that you can use to make some extra cash.
1. Work on freelance projects
Working on freelance projects can help you make quick money in one day by providing you with one-off jobs that can benefit from your skill set.
With the percentage of freelance workers in the workforce climbing steadily, there are many online marketplaces that make it easy to connect with businesses and individuals who need your services.
Sites like Upwork, Fiverr, and Toptal allow you to create a profile and showcase your work, making it easy for you to set your own rates and decide on the length of the project.
Additionally, the more experience you get, the more you can charge and the higher your demand will be, potentially leading to full-time work.
2. Sell items on consignment
Selling items on consignment can help you make quick money by providing an easy, fast way to earn a profit from gently used items.
With consignment shops, you can take your clothes, electronics, jewelry, musical instruments, or even your car to be sold without having to take an active role.
For a cut of the profits, your items will be placed in front of buyers, allowing you to make quick cash.
3. Take on odd jobs
If you’re looking for ways to make money quickly, odd jobs are a great way to do so.
Think of day laborer types of jobs. You can use an app like TaskRabbit to find work in your area.
Some of the common odd jobs you can consider include:
Gardening – you can offer to do gardening work such as weeding, planting, mowing, and trimming.
Furniture Assembly – if you have experience in assembling furniture, you can offer your services to people who need help.
Cleaning – you can offer cleaning services to keep homes and offices tidy.
Painting – you can offer your painting services to those who need help with their walls.
General Handyman Work – if you are good with your hands and have experience in repairing and fixing things, you can offer your services to people who need help.
Moving Gig – people are always looking for help with moving.
4. Trade Options
If done correctly, trading in options can help you make quick money and generate substantial returns in a relatively short period of time.
However, trading options come from experience and should not be taken as a get-rich scheme. Personally, I trade options for a living.
You can make quick money trading options if you know what you’re doing. The key is to identify when the market is going to move in a certain direction and then make the right trades to capitalize on the profits.
Here is the one and only investing course I recommend.
5. Become a rideshare driver
Becoming a rideshare driver can be an easy and convenient way to make money quickly.
All you need to get started is a valid license, active insurance coverage, and an approved vehicle. With Uber and Lyft, you can set your own hours and receive a base rate plus tips and distance or time-based bonuses.
From one of our rideshare drivers, we learned some tricks of the trade such as working in peak hours or in areas with popular nightlife scenes or active airports.
6. Offer house cleaning services
Nowadays, people don’t want to learn their own house, so starting a house cleaning service is a great way to make quick money.
With countless opportunities available online or on local job boards, you can easily find a job that works for you. There are even ways to market yourself so potential customers can find you!
If you have a background in cleaning and don’t mind physical labor, you can make up to $25 an hour or more.
Becoming a housecleaner is a great way to make extra money on the side and you can even make up to $200+ per weekend.
With a bit of effort, you could have a great side-hustle in no time!
7. Rent out your parking spot
If you live in a busy area and have a spot that’s in high demand, you can easily rent out the space for a premium price.
This can be especially profitable if you live near an event center and can offer parking to visitors who don’t want to pay a premium to park in a lot or parking structure. You can put your parking spot to work with services like Just Park or Neighbor.com and earn up to $300 per month.
Renting out your parking spot offers a great way to make extra money while utilizing unused resources or space.
8. Proofread documents
Whether you are a stay-at-home parent, a teacher looking for extra income during summer vacation, or someone with a passion for grammar and punctuation, you can make up to $65,000 a year by proofreading documents.
Make sure to take a Free Training Course: Caitlin Pyle offers a free workshop on how to use the most popular proofreading tool and how to become a work-from-home proofreader.
With some hard work and dedication, you can start earning quick money as a proofreader. Good luck!
9. Walk dogs
Walking dogs can be a great way to make some quick money.
Apps like Rover provide pet owners with a platform to find dog walkers in their area and pay for their services.
A dog walker can make $15-18 per 30 minute walk, with occasional bonuses for boarding or pet-sitting. This is a simple way to get your exercise and make cash.
10. Take an online survey
Companies and websites are always looking for consumer feedback in order to improve their products and services, and offer incentives such as cash, rewards, and gift cards for filling out surveys that can take as little as a few minutes.
Popular survey sites like Survey Junkie and Swagbucks offer these incentives, enabling individuals to make a few quid in just a few minutes of form filling.
Most surveys will only take a few minutes, so you will have to do a bunch to add up to serious cash for your feedback.
Here are the top legit survey platforms:
11. Sell your old junk
Are you looking for an easy way to make some extra money? Why not start by looking around your house and attic/basement for things you no longer use?
You can turn those things into cash by selling them online or having a yard sale.
With a little effort, you can easily make hundreds of dollars by selling your old stuff. It’s a great way to declutter your home and make some extra cash in the process.
Make sure to list your items with attractive descriptions and photos to draw in potential buyers.
12. House sitting
House sitting is a great way to make quick money. It allows you to watch someone’s home while they are away and take care of tasks such as feeding pets, watering plants, and taking out the trash.
You can usually make between $25 to $50 per day depending on the market demand in your area. It’s easy to start, with most sites having a minimum age requirement and a sign-up process that takes only minutes. Payment is typically made when the job is completed.
More importantly, beyond making good money, you are able to housesit in beautiful locations that you may not be able to do otherwise. Personally, this is something I want to start doing.
Build your profile on Trusted Housesitters now.
13. Babysit
Babysitting is a great way to make extra money, especially for those who are looking for flexible jobs that match their availability.
Whether you’re an experienced babysitter or a novice looking to give it a try, there’s no doubt that you’ll find plenty of opportunities available. With a little bit of effort and a lot of dedication, you can make a great living out of babysitting.
Most babysitters earn way more than minimum wage making this a great gig.
14. Deliver food orders
Delivering food orders can make you money quickly by taking advantage of the increasing trend in the popularity of food delivery apps.
With driver-friendly apps like Instacart, DoorDash, and Uber Eats, all you need is an insured vehicle and a smartphone to start delivering food to customers in need.
The pay per delivery can go even further if you work on busier nights like Friday or Saturday. With many apps, you can also choose your own hours and the flexibility to work as much or as little as you’d like. This can be a great way to make some fast cash on the side.
15. Earn money with eBay
eBay is an amazing platform for anyone looking to make some extra money by selling items they don’t use. Whether you’re looking to get rid of an old phone, clothes, or books, eBay is an easy and accessible way to do so.
You can start by selling items you don’t need or don’t use anymore.
You can also consider buying items at a low price with the intention of selling them at a higher price.
If you’re looking to make a full-time income from home, selling items on eBay could be a perfect way. You can start small by buying a thrifty item for a low price and selling it at a much higher price.
With the right knowledge and resources, you can make money on eBay easily. So get started today and watch your earnings grow!
16. Write articles for websites
Writing articles for websites can be a great way to make quick money in one day.
With the increasing amount of new content created daily, business owners often don’t have the time to create content for their websites themselves.
Freelance writers can fill this gap by providing quality content for clients in exchange for payment. Depending on the complexity and length of the article, writers can make anywhere from $25 to $500+ in a single day.
By specializing in a niche, writers can showcase their work as samples to potential clients. Furthermore, writers can establish relationships with other bloggers in their niche, guest blogging, and approach websites in their niche with their writing services to further increase their chances of finding work.
17. Become a pet sitter
Personally, I have a friend who makes money by being a pet sitter and has help from her kids.
With Rover, pet owners in your area can easily find and hire pet sitters for their pets. Dog sitting is the most popular pet sitting activity, and it can earn you around $20-35 for overnight stays.
Plus, you get to decide when and how you want to work, and you can fit it around your own schedule. With the right amount of communication and excellent service, pet owners may even offer you recurring gigs.
18. Participate in focus groups
Participating in a focus group can be a great way to make quick money in one day.
Focus groups are usually based on interesting products or services, and they can pay participants anywhere from $50 to $400 for their time. Not only is it a great way to make money quickly, I have found many focus groups can also be a lot of fun.
The hardest part with focus groups is it is not a steady stream of income as you may not qualify for each opportunity.
19. Do yard work
Just like housecleaning, this is a popular job to be hired out.
Yard work such as basic gardening and landscaping, shoveling snow or salting walkways, and even cleaning gutters can all be done for a fee. Advertising your services through flyers, door knocking, or posting on local job boards can help you find potential customers.
By doing quality work, you can turn this into a weekly gig for quick money.
20. Shop at thrift stores and buy low and sell high
You buy items for a fraction of the cost and resell them for a higher price. For example, you can find brand-name clothing, electronics, antiques, and children’s toys at thrift stores that you can resell on online platforms such as eBay, and Facebook Marketplace.
You can also look for items marked as “free” on the side of the road and spruce them up to sell for a profit.
Shopping at thrift stores can help you make quick money in one day, and with time and experience, you’ll discover which items sell the fastest and for the most money.
To make money flipping items, you must do your research upfront and know how much you can pay for something while still turning a profit. With time and experience, you will learn which items sell the fastest and for the most money.
21. Photography gigs
You can make money with photography in two ways:
Turn your photographs into cash by selling them through stock image websites such as Shutterstock or iStock.
Offer your photography services for family sessions, birthday cake smashes, and even weddings.
Either way, you are able to turn your passionate hobby into a way to easily make a decent income in one day.
22. Participate in sweepstakes
Participating in sweepstakes can help you make quick money in one day by giving you a chance to win big.
Yet, this option comes with a lot of RISK!
There are a variety of competitions and prizes available, ranging from online product giveaways and gift vouchers to big-money TV game shows. You want to look for sweepstakes that are free to participate in and not pay money.
This one ranks up there with the left hand itching principle.
23. Use your Writing Skills
Are you looking to make money with your writing skills? There are lots of opportunities available that pay you to write. From blogging to freelance writing, to reviewing music, you can find the perfect job that allows you to utilize your writing skills and get paid.
You can also make money by helping people refine their writing. If you have a good grasp of grammar and can help people write in a more engaging and structured way, then you can charge for your services.
Publications often hire freelance writers, so that’s another avenue to explore.
No matter what you decide to do, there are plenty of ways to make money with your writing skills – all you have to do is find the right opportunity for you.
24. Become a home staging stylist
Becoming a stylist can help make quick money in one day by offering services to those who are in need of help staging their homes for sale.
Realtors often hire outside help to ensure that the home is presented in an attractive and appealing way, and these services can be provided for an hourly or flat fee.
This is a great part-time gig.
25. Donate plasma
You can make money quickly by donating plasma.
Plasma is the liquid part of the blood that contains antibodies. It can be used to create medications and other medical products. Plasma donation is a safe procedure that can help people in need.
Typically, you walk out with cash immediately.
Check with your local blood bank or hospital to learn more.
26. Host workshops
Hosting workshops can be a great way to make money in a short period of time. There are endless webinar ideas you can try, such as live-at-home fitness classes, cooking, a writing workshop, an Excel class, nutrition coaching, or even a first-time homebuyer class.
With the rise of video conferencing, it’s easy to set up webinars to teach people your skills and knowledge.
Typically, you will need to build an online presence with a social media following to hold successful workshops.
27. Trade Stocks
Trading stocks can be a lucrative way to make quick money, but it is essential to understand the risks involved.
With the help of online market trading platforms, anyone can start to trade stocks with a minimum amount of money.
Learning how fast you make money with stocks, but realizing you need to learn to trade stocks is like going back to school for a stock trading education.
Although trading stocks has the potential to generate quick money, it is important to note that all trading involves risk and that you should only invest what you can afford.
28. Become a courier
Being a courier is a great option for flexible income, as they allow you to set your own hours and work as much or as little as you’d like.
Think outside the box of UberEats or Instacart. This would likely be for a local business that needs to move documents from location to location.
You will need to be reliable and trustworthy.
29. Deliver Pizza
Even today, this is a classic gig to make quick money by delivering pizza!
Businesses are desperate for workers, so finding a job should be fairly easy. However, be prepared to work more than one day.
30. Repurpose your skills
Those skilled in writing, graphic design, coding, bookkeeping, or any other number of computer-based skills, can use these sites to find freelance jobs that require their skills.
Additionally, those with knowledge or experience in a particular field can create and sell an online course via a platform like Teachable or Podia.
Too often, we overlook the things that we are the best at, yet repurposing your skills us a great wat to make money.
31. Dog groomer
The income potential as a dog groomer is considerable.
According to the American Pet Products Association (APPA), pet owners spent $136.8 billion on their pets in 2022.
Dog grooming is a easy way to make money.
Over to pick up dog poop and you can double how much money you make.
32. Sell your unwanted items
Selling unwanted items on eBay and Amazon can be a great way to make quick money.
By scouring online retailers, local thrift stores, and yard sales for hidden treasures, individuals can find consumer goods for cheap and then resell them for extra profit.
Selling on Amazon also provides an opportunity to source products for fulfillment.
Additionally, apps like LetGo, OfferUp, and Facebook Marketplace make it even easier to make extra money, as people jump on items quickly.
For those with a strong entrepreneurial spirit, buying items at a low price and then reselling them at a higher price can generate a decent side income.
33. Sell Printables
If you’re creative, you can create and sell digital products like ebooks, courses, templates, and graphics.
Digital downloads are also becoming increasingly popular, as they require no shipping or fulfillment costs and you can easily make them once and sell them hundreds of times over. Depending on the craft and the demand, your potential earning potential can be quite high.
In fact, selling printables is a popular summer jobs for teachers!
So why not give it a shot? With the right strategies, you could start making a few hundred dollars a month with very little effort.
34. Crafts and handmade goods
One of the best ways to make money quickly is by selling crafts and handmade goods on websites like Etsy.
From jewelry and candles to sourdough bread to quilts and custom T-shirts, there is a huge variety of items that you can make and sell. You can also design and sell custom stationery, pillows, tote bags, coasters, cosmetics, and more.
35. Dropshipping
Dropshipping is an online business model that allows entrepreneurs to start an online shop without having to keep a product in stock. Instead, a business makes a sale and then passes the order along to a third party, known as the dropshipper, who ships the product directly to the buyer.
Dropshipping is a great way to make money quickly, as it requires minimal upfront investment and overhead.
With dropshipping, you can add products to your store without having to buy them in bulk, and you don’t need to worry about shipping or fulfilling orders.
36. Affiliate Marketing
Renting out your property can help you make quick money in one day by taking advantage of the services offered by websites like Airbnb.
Affiliate marketing is a way to earn money by promoting other companies’ products or services. You can do this without a website, by sharing affiliate links on social media, a blog, online forums, post comments, and with friends or family.
When someone buys a product or service via unique affiliate link you provide, you get paid a commission.
It is possible to make money quickly if you have a social media following or a website, as you can start promoting all sorts of companies, products, services and offers online.
37. Work for tips
Making money quickly by working for tips may sound intimidating, but it is actually very achievable with a bit of hard work and determination.
Tips are normally paid in cash, which is exactly what you need.
Jobs that pay tips:
Waitstaff
Bartender
Bellman
Drivers
Casino dealer
Golf caddy
Babysitters
Also, many jobs that pay weekly work for tips.
38. Rent out your property
These services allow you to rent out a room, a condo, or your own home if you’re away on vacation.
Airbnb has revolutionized the hotel industry by allowing everyday property owners to lease their place to travelers. By creating an account and listing your property, you can immediately start earning passive income.
With the right location, you can create a steady stream of income that can help you make quick money in one day.
39. Join a MLM
Joining a Multi-Level Marketing (MLM) company is one of the most popular ways to make money these days. With an MLM, you can potentially make a lot of money by building a team and earning commissions from their sales.
But you need to be careful and do your research to make sure it’s an opportunity worth pursuing.
MLMs can be profitable, but it can take a lot of time and effort to get them off the ground and make them successful. You need to be prepared to take the time to build your team, train and support them, and provide them with the resources they need to succeed.
Personally, I have tried making money with an MLM and found out that it was not worth the time or effort.
40. Collect and sell scrap metal
Collecting metal items such as old swing set parts, metal toys, and other bits of metal can be sold at scrap yards or redemption centers for a small sum of money.
Iron, steel, aluminum, brass, and copper are the most commonly traded types of scrap metal, and the prices vary depending on the type and amount of metal.
This is a simple way to make money if you put in the resources. Just don’t steal metal because that can get you in severe trouble.
41. Deliver for Food Delivery Apps
This industry is booming with no signs of slowing down. You can easily make $100 a shift by delivering food!
Sign up for driver-friendly apps such as Instacart, DoorDash, and Uber Eats. These apps allow you to set your own hours and work as much or as little as you’d like.
Make sure you have an insured car, truck, bike, scooter, or motorcycle. Depending on what you choose to use, certain apps may have different requirements.
Go to the restaurant and pick up the order. You’ll be paid a flat delivery fee, an additional fee per item ordered, and 100% of the tips customers choose to give you.
Deliver the food to the customer.
Get paid instantly, usually within the same day.
Maximize your earnings by delivering for multiple apps at once. This will give you access to more orders, and a larger area to deliver in.
42. Become A Virtual Assistant
Virtual assistants are in demand right now.
Consider becoming a virtual assistant with no experience to help small businesses with tasks like scheduling appointments and managing emails.
Typically, small businesses are looking for someone to take a short-term 3-month stint or a long-term relationship.
If you have marketable skills, you will make an outstanding virtual assistant.
43. Cook and deliver food
Cooking and delivering food can make you money in one day, especially since the demand for convenient delivery is increasing.
If you are cooking food on your own, you need to check with your local state and city regulations to see if you are allowed to sell food from a home kitchen. These food regulations are tough, so make sure you comply with these regulations.
However, many busy families are looking for a personal chef and are willing to pay for the service.
44. Trade-In Programs
Trade-in programs are a way for people to get quick money by selling their old phones, tablets, and other electronics. These programs give customers the opportunity to receive cash or gift cards in exchange for their unwanted devices.
You can trade in your own unused or unwanted electronics or for neighbors who don’t want to deal with the hassle themselves.
When selling through a trade-in program, customers are usually asked to provide a description of the device and its condition. The amount of money received depends on the device and its condition.
Plus you are helping the environment by keeping old devices out of landfills.
45. Become a social media influencer
If you have a large following on social media, you can make money by becoming a social media influencer and promoting products or services.
There are a number of ways to make quick money as an influencer. You can promote products or services by posting about them on your social media account.
Obviously, you must thrive using social media.
46. Flipping items on Poshmark
Making money on Poshmark by flipping items can be a great way to make cash.
You can find items to resell from big box retailers, online retailers, local thrift stores, yard sales, flea markets, eBay, Facebook Marketplace, and Craigslist. Potential items you can flip for profit include brand-name sneakers, clothing, and purses.
You should also figure out which items sell the quickest and for the most money.
Poshmark also has a “bundling” function which allows you to group similar items together for a discounted amount. This is a great way to make more money as you can sell multiple items in one go.
This platform allows followers, so it is easy to build return buyers.
47. Start a small business or side hustle
Small businesses and side hustles can be a great way to make money quickly. Consider your skills and interests and start something that can help you turn a profit.
No matter how you do it, starting a business can be a great way to make money and meet new people.
Building your side hustle to a full-time income will not happen overnight, but you will make progress with hard work and dedication.
48. Take advantage of Swagbucks
Swagbucks is an online rewards and survey platform that provides numerous opportunities to make money.
With Swagbucks, you can earn money by completing surveys, watching videos, playing games, and even shopping online. With each task, you can earn anywhere from $0.40 to $2.00 in SB points which can be redeemed for cash back or gift cards.
Plus, when you sign up, you get a $10 bonus and can even get 500 SBs for referring a friend.
49. Tutoring
Tutoring is a great way to make quick money while using your knowledge and expertise to help others. It involves providing instruction to an individual or a small group on a particular subject, usually to help them improve their understanding.
Tutors can work with students in person or online, depending on the subject and their availability.
No matter your educational background, you can make money tutoring as long as you have a deep knowledge of a subject. With the right resources and platform, you can find tutoring gigs in your area and start making quick money today.
50. Make money with your phone
Making money with your phone is possible with a little bit of effort. You can sign up for apps to complete small tasks and earn money quickly.
Alternatively, there are plenty of mobile apps such as Ibotta, Rakuten, Shopkick, Swagucks, or Receipt Hog which can help you make some extra money with simple tasks.
You can also take on odd jobs through apps like TaskRabbit to make cash.
Finally, you can trade stocks on your phone.
There are so many ways to make money with your phone today.
FAQ
Yes, it is possible to make passive income. This type of income is earned with little effort or direct work.
It can come from investments such as returns and dividends, as well as from sources like stocks, rental properties, and online businesses.
With some creativity and diligence, anyone can create multiple sources of passive income. It may take months or even years to build up these streams of income, but the potential rewards are worth the effort.
Many of the statistics are leaning on the fact that you need a side hustle to make ends meet or get ahead financially.
I started a side hustle to make money to afford what we wanted to do. Personally, my side hustles are blogging and day trading stocks.
The best side hustles are the ones that you are passionate about. More than likely, you will be spending time on them in your free time, so you want to enjoy them.
Regardless of what type of side hustle you choose, you can make extra money on the side. To maximize your earnings, you can even combine several different side hustles together to create multiple income streams.
I always say, if I can make $100 a day, then I am making $3000 a month. That will make a difference in my personal finance situation.
Before you can make $100 a day, you need to find out how you will make money. Look for opportunities that match your skills and interests. Some examples of this include driving for Uber, selling your skills on freelancing sites, creating an online store, or even starting your own blog.
Learn how to invest 100 to make 1000 a day.
When looking to make $1000 fast, you need to up your game – specifically, the time and energy to make your goal happen.
You could start by looking for high-paying side hustles such as trading stocks or options, becoming a freelance writer, setting off as a virtual assistant, or by selling products online.
The key is to make $1k a day consistently. Then, you will be working on how to turn 10k into 100k.
Which Quickest Way to Make Money in a Day Will You Choose?
There are many ways that you can make quick money in one day.
Whether you want to start a side hustle, do some odd jobs, or make money online, which option is best for you?
Whichever option you choose, make sure that you choose something you will enjoy doing as well as the quickest way to make money.
We covered fifty options to make cash and start making extra money today!
Which one is your favorite?
Mine are trading and writing. Comment below on which method you will choose.
Know someone else that needs this, too? Then, please share!!
Life goes by quickly. One minute you’re walking into your first day in kindergarten, the next you are getting ready to leave the workforce and enter retirement. If you are one of the 30 percent of Americans who are almost at retirement age with no savings to speak of, it’s time to act. As intimidating as it may seem to start saving when everyone around is shaking their head and saying it’s too late…a start is better than nothing at all. In fact, with a bit of careful planning and a lot of hard work, you may find yourself in a position to retire comfortably in less time than you thought.
1. Tighten your purse strings – hard
Before retirement comes and you find yourself holding up grocery lines so you can count out change, you need to take long look at your spending habits. Start a diary of your expenses, either by writing them down or using online resources. This will help you to better understand where your money goes every month. You may find that a lot of what you buy can be downsized or even reduced entirely.
2. Stop being so generous
Studies have shown that the majority of people of retirement age are still supporting either children or parents. It’s time for tough love. Try to avoid handouts by gently letting your loved ones know that you are preparing to retire and need to start looking out for yourself. Or, if you do continue to support family members, make it clear that you simply can’t continue helping out forever.
3. Think smaller
You can save a great deal of money by moving to a smaller home in a different area. After building equity in your home and enjoying where you’re situated, moving to a tiny space in a less than desirable neighborhood can be a heavy sacrifice. However, the money you can earn through wise real estate decisions can do a great deal to alleviate sentimental pangs.
4. Don’t count on your home
You may have decided that all you need to retire on is the equity in your home. Sadly, this is one of the biggest mistakes people make. The real estate market is highly volatile. What may be worth over half a million one year can be reduced to less than a third the next. Do not consider your home to be your safety net. The best advice is to ignore its worth entirely and focus more on saving wisely and reducing your expenses.
5. Cut up your cards
Carrying debt into a time in your life where you will have little or no income is financial poison. Before you retire, you must do everything you can do rid yourself of your credit card debt. If you are being careful with your spending, you should be able to start to make lump payments that will allow you to happily slice up any cards that might tempt you in the future.
6. Set up a meeting with your boss
If you’ve realized that you simply cannot afford to take all the necessary steps to retirement, and you believe that you deserve it, it may be time to ask for a raise. Plan your meeting with your boss by preparing a list of accomplishments and contributions that you can present, sing your own praises and hopefully your employer will show their appreciation by increasing your income.
7. Get some on the side
Was the door shut in your face when you asked for a raise? It may be time to consider clocking some extra hours to increase your monthly income. If you‘re not interested in working outside the home, there are plenty of online opportunities to supplement your income. Many sites offer freelance positions such as essay writing, data entry or blogging. Although the pay isn’t stellar to begin, with a little effort you can certainly make a decent wage.
8.Stuff your retirement savings accounts
Ideally, people should start contributing to 401K and IRA savings before their mid thirties. The reality is that most people are too busy starting families and deciding on a career at that crucial stage in their lives. As a result, there are many people over 50 who have absolutely no savings in preparation for retirement. If you see yourself in this group, you need to start making these accounts a priority. Start small and remember, money not seen is money not spent.
9. Look at your assets
One of the best ways to build your retirement fund is through investment. Playing the market is an art however, and you always run the risk of losing more than gaining. Conversely, being too prudent can cause just as much damage. Therefore, your portfolio needs to be well diversified. Consider domestic stocks and international bonds, which are fairly secure but give a reliable and often lucrative return. Make sure you avoid the safety of fixed income stocks and focus instead of creating a portfolio of many different stocks from a variety of sources.
10.Get Help
Getting the help of a trained financial advisor or stockbroker can make a world of difference when it comes to planning for your retirement. There is no shame in asking for help. Employing a qualified advisor to help you make the most of your money can mean the difference between celebrating your retirement on a cruise ship or opening up a can on ham and sticking a candle on it.
Life is full of important milestones. From an early age, we start to anticipate these major shifts and how our lives will change. . Perhaps the biggest shift is into retirement. It is prudent to prepare yourself, both emotionally and financially for this switch. As dull as it may seem now, you’ll be glad to make the preparations you did.
This post was written by the Frugal Dad. FrugalDad.com is a personal finance site that offers coupons & deals to help consumers save money.
It has now been a whole year since the MMM family made the jump to a low cost / high-deductible health insurance plan, so I figured it would be useful to provide an update on how the year has gone.
The one we ended up with was called the “Saver80”, a barebones but useful plan provided by Golden Rule, which is a subsidiary of the very large United Healthcare. We found it through the insurance search engine called ehealthinsurance.com, using its “sort by price” feature.
At the time of the article I received many speculation-based complaints that are now worth addressing:
Complaint: “Those Ehealthinsurance quotes are all fake window dressing – once you sign up, the real premium is much higher”. Diagnosis: Mostly False. In our case, the original quote was $219 per month for our 3-person family, and after “underwriting” they raised it to $237 after noting the costly birth of our son (since if we chose to have more kids, they would statistically incur higher costs). Not too bad. And after the Affordable Care Act is fully activated in January 2014, past medical history will no longer be a factor.
Complaint: “They always jack your premium way up after the first year” Diagnosis: False. We just got the renewal notice for the plan. I was frightened to open it, expecting a doubling of premiums. And indeed it was a premium increase notice. Our costs are rising $4.24 per month, or 1.8%. One penny of this is the “standard increase” and the other $4.23 is the “age increase”, as Mrs. MM and I are a year older and, sigh, closer to our eventual death. If we account for inflation at 3%, the premium has actually gone down.
Complaint: “High deductible insurance is risky – you’re better off with full coverage” Diagnosis: False in most cases. Although there is plenty of statistical variation involved, on average you win when you self-insure. For example, as usual this year I went to the doctor once for an annual checkup and it was covered by the plan under preventative maintenance. Now pushing 40, I feel better than ever, and I like to say that bikes, barbells and salads are my primary health plan. Mrs. and little MM each caught two bacterial infections over the course of the year that required antibiotics, and we had to pay for the doctor visits and prescriptions out of our own pockets. This raised family health care costs for the year to about $600 (plus the $2844 in insurance premiums, of course). The high-deductible plan was still the clear winner even in this unusually bad year.
Complaint: “Your plan will not be available after the Affordable Care Act comes in” Diagnosis: True and False. Existing plans purchased in 2013 or earlier will often be allowed to remain in effect until at least the end of 2014, and checking ehealthinsurance, I can see my plan is still available today, for the same price. It will probably disappear at the end of the year.
According to my correspondent Xiao Sun who is part of a small business insurance firm called simplyinsured.com, high deductible plans are not going away, just being thinned out due to stricter rules. Xiao’s summary:
Some older plans are grandfathered in, so they don’t have to change. The main rule that high deductible plans have trouble with is the 80/20 rule, which requires at least 80% of premiums to be spend on medical expenses rather than SG&A and marketing. Plans that don’t spend 80% of premiums on medical expenses are supposed to provide rebates back, though many insurers are responding by not offering the high deductible plans anymore. More on that situation on this Kaiser Health News article.
OK, What about the Affordable Care Act (aka Obamacare)?
Although some misguided souls continually spread fear and doubt over it, this new law actually has some great potential. Remember, we’re starting from one of the worst healthcare cost situations in the rich world (Canadians pay about half of what we spend per capita for full universal coverage for life – including vision). So by moving the US closer to these more successful systems, we all have a good chance at saving money over time.
For an early retiree like myself, the option for a $10,000 deductible fades away after 2014. The new limit seems to be $5,000, which seems silly to a Mustachian (after all, who couldn’t rustle up $10k in a rare medical emergency!?), but necessary in a country where most people don’t even have a grand. Running through ehealthinsurance.com again for a 2014-compliant plan, I see this as my best option:
$460 per month, with a $5000 individual deductible, $10,000 family, and $12,700 annual out-of-pocket maximum. This is for the “Kaiser Permanente Colorado Bronze” plan. Colorado residents can also do the same search on the state-run connectforhealthco.com (where the same plan is listed) and any US resident can search on healthcare.gov* (which just lead me back to the Colorado exchange).
Update: As of January 2015, more competitive providers have entered the Colorado market and I can now get a better-looking plan from Colorado HealthOP which includes children’s dental coverage for $408/month.
So we would be increasing our premiums, but cutting the deductible in half, as well as gaining prescription drug coverage (a $20 copay after deductible) and some other goodies. And the new plan is HSA-eligible, which means all costs will be covered with pre-tax money. More insurance for more money – not my favorite bet to make, but also not completely devoid of value.
But now that I’ve got you braced for a costly-yet-manageable worst case scenario, I can reveal the good news: Most Mustachian-level early retirees will get virtually free health insurance under the new law.
When you select a 2014 plan, a little box pops up: “check if you are eligible for a subsidy on this plan”. Working through the options, here is what I see for my own family:
Whoa. So although I could pay a maximum of $5520 per year for this new and improved coverage, in reality I will only pay this much in years where my annual income is over $80,000. For incomes below that generous level, the federal subsidy kicks in and my net cost drops, until I get to the point of free health insurance somewhere around $26,000. With annual living expenses of about $25,000, we could in theory live this current lavish lifestyle and get fully subsidized health insurance simultaneously, if our ability to earn money somehow dried up someday**.
So far I’ve covered these changes from my own narrow perspective: a young high-income family with considerable savings and no health issues. But the Affordable Care Act is really designed to help people less fortunate than us – students and seniors, people with existing conditions, the unemployed and quite notably self-employed entrepreneurs. With this new law, you can now drop the decades-old tradition of great fear and dependence on your employer for health coverage. You can quit your job, switch to another one, or create your own, with no more worry about who will cover you, because cost is affordable and minimal at lower incomes.
This is big. If you’ve read this blog for long, you know how excited I get about small business, self-employment, and the General Starting of Some of your Own Good Shit. It provides variety, challenge, and an early escape from The Man. And if you could see my email inbox, you would see just how many creative people are afraid to go out and do exactly that – over the mundane issue of health insurance fear. So I am going to place my bet that the Affordable Care Act will be VERY good for entrepreneurship in the years to come.
And just to maintain this country’s libertarian principles, you still retain the choice of opting out of the whole program. The penalty for failing to sign up is fairly painless – $95 for lower-income single people and rising to about $900 for a family of three making $100,000. So despite all the talk of lost liberties, your range of choices with the new health insurance law are better than ever.
Further Reading: Ezra Klein is a rather brilliant Washington Post columnist who has been digging into this and other neat policy issues for years in a column called Wonkblog. Here’s a link to everything his team has recently written on healthcare.
*Wow, I notice that the healthcare.gov site is snappy and fast now. Despite widespread controversy in the news about the supposedly catastrophic launch of this new website. Again the Low Information Diet prevails: stay calm, tune out of 24-hour-news cycle talking heads controversy, check site again a few weeks after launch, get health insurance quotes quickly.
** Unfortunately, I have to admit that this year we will have a household income above $80,000 and thus would not be eligible for a subsidy. Higher-than-forecast investment and Lending Club returns, rental house, carpentry, and real estate income plus this blog have all contributed to this. Please don’t tell the Early Retirement Police. If this terrible condition persists into 2015 and we are kicked into a new plan, I guess we will have to settle for a slightly lower savings rate. What an oppressive country!