At both federal and state levels, financial institutions are governed by laws that protect consumers against unfair and unscrupulous treatment in the banking and finance sectors. In addition, guidelines are in place to combat fraud and monopolistic behavior, helping to ensure the smooth running of the free-market economy.
Granted, catastrophic historic events — such as the 2008 global financial crisis — occur despite the oversight of robust financial regulatory agencies. Because of this, laws and regulations are constantly being examined and updated to finesse the banking and finance legal framework.
Read on to understand more about finance watchdogs, their roles, and how regulations work to protect the public and the economy from fraud and illicit practices.
What Is Financial Regulation?
Financial regulation is a set of laws, rules, and policies set by governing institutions. These are designed to keep your money safer. Specifically, they aim to maintain confidence and stability in the financial system by eliminating fraud and monopolistic behavior.
In the United States, governing bodies try to balance the need for oversight with a free-market economy, which can be a challenging endeavor.
Why Financial Regulations Are Important
Without regulations, consumers have no protections. They might be subject to fraud, sold bad mortgages, and charged high interest rates and fees on credit cards. Large companies could create monopolies or duopolies, which allow them to control prices.
Laws and policies prevent companies from gaining too much market control and stifling competition, which threatens the free market economy. Regulations also prevent financial institutions from taking risks that put consumer funds in jeopardy.
Here’s a brief history lesson that shows how lack of regulation can negatively impact daily life: The 2008 financial crisis was precipitated by deregulation and the repeal of the Glass-Steagall Act of 1933. This allowed financial institutions to engage in risky hedge fund trading. To fund their investments, the banks created interest-only loans for subprime borrowers, which contributed to more home purchases (including to buyers who would not have otherwise qualified) and quickly rising prices. This created a housing bubble, and millions of people were left bankrupt and couldn’t sell their homes when home prices then plummeted.
But too much regulation can also be a threat to an economy. In a free-market economy, prices are largely determined by supply and demand. Competition among suppliers tends to keep prices at bay as they each try to grab market share.
If regulations become too onerous and costly, companies may use up capital to comply with federal rules. That means they aren’t using those funds to create innovative products. In some cases, specific industries or groups manage to influence regulators and persuade them to introduce or eliminate laws that benefit them and not their competitors.
Types of Financial Regulations
Different agencies focus on the safety and soundness of products and services, transparency and disclosure, standards, competition, and rates and prices for different entities. Here’s a closer look at some of the most important regulations to be aware of:
• Stock Exchange Regulations Laws and rules for stock exchanges ensure that the pricing, execution, and settlement of trades is fair and efficient.
• Listed Company Regulations Listed companies (public companies) are required to prepare quarterly financial statements and submit them to the Securities and Exchange Commission (SEC) and to their shareholders. Investors use this information to inform their trades.
• Asset Management Regulation Financial advisors and asset managers must follow strict rules set by financial services regulatory bodies so that clients are treated fairly and not defrauded. Any company that provides investment advice is considered an investment advisor, and the SEC oversees investment advisors with more $110 million in assets under management (AUM).
• Financial Services Regulation Banking and financial institutions must follow specific guidelines to ensure a functioning banking system. These rules are enforced by The Federal Reserve Board (the Fed), the Office of the Comptroller of the Currency (OCC), the Consumer Financial Protection Bureau (CFPB), and the Federal Deposit Insurance Corporation (FDIC).
Recommended: What Is a Fiduciary Financial Advisor?
Types of Financial Institutions
There are a wide variety of financial institutions in America, some of which you may be familiar with. Here’s the rundown:
• Central banks, like the U.S. Federal Reserve, watch over the country’s monetary policy.
• Retail banks are probably what most people are familiar with. These are banks where the general public can have checking accounts and savings accounts, loans, and other financial services.
• Commercial banks are similar to retail banks (above) but they serve the business community. Large banks may act as both commercial and retail banks.
• Credit unions are similar to banks but they are nonprofits, and members are part owners of them. They offer the same kind of services as banks but may tailor themselves to specific communities.
• Community development financial institutions (CDFIs) are financial institutions that work to build financial knowledge, services, and wealth in communities that are less advantaged.
• Savings and loan associations are organizations that use savings to create housing loans.
• Brokerages manage securities trading (say, stocks and exchange-traded funds, or ETFs), which are regulated though not insured.
• Insurance companies help both businesses and individuals protect themselves from property loss and may provide services such as loans.
• Investment companies function by issuing securities to both businesses and individuals who seek to raise capital.
• Mortgage companies offer home loans and may also manage commercial real estate.
What Is a Financial Regulator?
A financial regulator is an organized governmental or formal body that has the jurisdiction to oversee other entities, such as stock markets, banks, and asset managers. Their mandate is to ensure fairness, protect the public and institutions from fraud, and to facilitate a well-functioning financial sector.
Examples of financial regulators are the Fed, the Securities and Exchange Commission (the SEC), and the Financial Industry Regulatory Authority (FINRA).
How Are Financial Institutions Regulated?
Banks and financial institutions are regulated by the Fed, the OCC, the CFPB, and the FDIC, while asset management companies and stock exchanges answer to the SEC and FINRA. (Also worth noting: Individual stock brokers, investment bankers, and other professionals likely need FINRA securities licenses.) State agencies may enforce regulations on financial institutions, notably insurance providers.
Each of these organizations requires documentation from financial institutions and companies that show compliance with laws. For example, listed companies have to submit quarterly financial statements to the SEC. If they fail to do so, they may be charged with “Failing to Comply” and may lose the ability to trade their shares on the stock market and be forced to pay penalties.
Recommended: FINRA vs. SEC: How are they Different?
The Most Common Financial Regulatory Bodies
The following is a list of the more recognized regulatory agencies and a brief description of what each one does.
The Federal Reserve Board (FRB)
The Fed is the central bank of the United States. As such, it ensures the U.S. economy functions effectively. The Fed is in charge of monetary policy and has the power to increase or decrease interest rates or to instruct banks on the quantity of reserves they must maintain. The Fed also monitors financial systems and their impacts, facilitates efficient settlement of U.S dollar transactions, and upholds laws that protect consumers.
The Federal Deposit Insurance Corporation (FDIC)
The FDIC was created by Congress to support the U.S. financial system. The FDIC insures deposits and monitors financial institutions and their compliance with consumer protection laws. The FDIC also manages bank failures, though they occur very rarely.
The Consumer Financial Protection Bureau (CFPB)
The is a relatively new agency that implements and enforces Federal consumer financial law. CFPB regulations protect consumers by making sure financial products and services are “fair, transparent, and competitive.”
The National Credit Union Association (NCUA)
The NCUA was created by Congress in 1970. The association insures consumer accounts with credit unions with up to $250,000 of share insurance. Enforcement tools of the association include letters of understanding and agreement, administrative orders, and consent orders.
The Securities Exchange Commission (SEC)
. The SEC strives to maintain the public’s trust in the capital markets by insisting on fair practices. Various acts have been passed over time including the Securities Act of 1933, the Sarbanes-Oxley Act of 2002, and the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.
The Commodity Futures Trading Commission (CFTC)
The CFTC was created in 1974 to oversee commodity trading in the agricultural sector. Commodity trading has been subject to government regulation since the 1920s. The CFTC supervises and monitors commodity traders and market activity. The commission investigates and prosecutes wrongdoers and educates customers about their rights and how to avoid fraud.
Recommended: What Are the Difference Between FDIC and NCUA Insurance?
How Financial Regulators Help Banking in the Way We Know Today
The banking and financial systems operate well under current regulation, but what about digital banking? Digital banking is a recent innovation, and existing banking laws and regulations generally apply to digital start-ups and fintechs. However, there are some regulatory frameworks specifically for digital banking.
An example of protection for digital banking consumers is Electronic Know Your Customer (e-KYC), which is used for digital onboarding and checks that a customer is who they say they are to avoid fraud and money laundering. E-signature is a way for customers to validate transactions remotely.
Another instance is the Electronic Fund Transfer Act (Regulation E) which aims to make applicable electronic transactions compliant with regulations as well as have “readily understandable” consumer disclosures.
Recommended: Online Banking vs Traditional Banking: What’s Your Best Option?
The Takeaway
Financial services regulatory bodies like the Fed, the FDIC, and the SEC oversee the banking and finance sectors in the United States. State agencies also play a role. Though many consumers are not aware of the details, these regulatory bodies have jurisdiction over stock markets, commercial and retail banks, investment banks, and asset managers. Their mandate is to ensure fairness for consumers, ensure entities comply with fraud protection rules, and to protect the financial sector and free-market economy.
Which is all good, of course. But if you are looking for a great bank for your personal accounts, see what SoFi offers.
Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with direct deposit, you’ll get a competitive annual percentage yield (APY), pay zero account fees, and enjoy an array of rewards, such as access to the Allpoint Network of 55,000+ fee-free ATMs globally. Qualifying accounts can even access their paycheck up to two days early.
Better banking is here with SoFi, NerdWallet’s 2024 winner for Best Checking Account Overall.* Enjoy up to 4.60% APY on SoFi Checking and Savings.
FAQ
Who regulates financial institutions in the United States?
In the United States, financial institutions are regulated by the Fed, the Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC), the SEC, FINRA, the CFPB, the NCUA, and the CFTC. State agencies also enforce regulations on financial institutions, especially insurance providers.
What are regulators in finance?
Finance and banking regulators are state- and government-appointed bodies that protect the safety and fair treatment of consumers. They also ensure smooth operations of the finance and banking sectors, the backbone of the economy.
Who regulates investment banks?
U.S investment banks are regulated by the SEC. For regulatory purposes, investment banks were declared separate for commercial banks following the passing of the Glass Steagall Act of 1933.
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 activity can earn 4.60% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. Direct Deposit means a recurring deposit of regular income to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government benefit payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Direct Deposit”) via the Automated Clearing House (“ACH”) Network during a 30-day Evaluation Period (as defined below). Deposits that are not from an employer or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g., IRS tax refunds), do not constitute Direct Deposit activity. There is no minimum Direct Deposit amount required to qualify for the stated interest rate.
As an alternative to direct deposit, SoFi members with Qualifying Deposits can earn 4.60% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Qualifying Deposits means one or more deposits that, in the aggregate, are equal to or greater than $5,000 to an account holder’s SoFi Checking and Savings account (“Qualifying Deposits”) during a 30-day Evaluation Period (as defined below). Qualifying Deposits only include those deposits from the following eligible sources: (i) ACH transfers, (ii) inbound wire transfers, (iii) peer-to-peer transfers (i.e., external transfers from PayPal, Venmo, etc. and internal peer-to-peer transfers from a SoFi account belonging to another account holder), (iv) check deposits, (v) instant funding to your SoFi Bank Debit Card, (vi) push payments to your SoFi Bank Debit Card, and (vii) cash deposits. Qualifying Deposits do not include: (i) transfers between an account holder’s Checking account, Savings account, and/or Vaults; (ii) interest payments; (iii) bonuses issued by SoFi Bank or its affiliates; or (iv) credits, reversals, and refunds from SoFi Bank, N.A. (“SoFi Bank”) or from a merchant.
SoFi Bank shall, in its sole discretion, assess each account holder’s Direct Deposit activity and Qualifying Deposits throughout each 30-Day Evaluation Period to determine the applicability of rates and may request additional documentation for verification of eligibility. The 30-Day Evaluation Period refers to the “Start Date” and “End Date” set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the “30-Day Evaluation Period”). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. Upon receiving a Direct Deposit or $5,000 in Qualifying Deposits to your account, you will begin earning 4.60% APY on savings balances (including Vaults) and 0.50% on checking balances on or before the following calendar day. You will continue to earn these APYs for (i) the remainder of the current 30-Day Evaluation Period and through the end of the subsequent 30-Day Evaluation Period and (ii) any following 30-day Evaluation Periods during which SoFi Bank determines you to have Direct Deposit activity or $5,000 in Qualifying Deposits without interruption.
SoFi Bank reserves the right to grant a grace period to account holders following a change in Direct Deposit activity or Qualifying Deposits activity before adjusting rates. If SoFi Bank grants you a grace period, the dates for such grace period will be reflected on the APY Details page of your account. If SoFi Bank determines that you did not have Direct Deposit activity or $5,000 in Qualifying Deposits during the current 30-day Evaluation Period and, if applicable, the grace period, then you will begin earning the rates earned by account holders without either Direct Deposit or Qualifying Deposits until you have Direct Deposit activity or $5,000 in Qualifying Deposits in a subsequent 30-Day Evaluation Period. For the avoidance of doubt, an account holder with both Direct Deposit activity and Qualifying Deposits will earn the rates earned by account holders with Direct Deposit.
Members without either Direct Deposit activity or Qualifying Deposits, as determined by SoFi Bank, during a 30-Day Evaluation Period and, if applicable, the grace period, will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances.
Interest rates are variable and subject to change at any time. These rates are current as of 10/24/2023. There is no minimum balance requirement. Additional information can be found at https://www.sofi.com/legal/banking-rate-sheet.
*Awards or rankings from NerdWallet are not indicative of future success or results. This award and its ratings are independently determined and awarded by their respective publications.
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.
Aura, like other identity theft protection services, pledges to keep your personal and financial information safe with capabilities like credit report monitoring — for a price.
While there are things you can do yourself to protect your credit and identity, often for free, the Aura app may be valuable if you prefer a hands-off approach or are looking for additional features like antivirus software.
Here’s what to know about Aura and how much the service costs.
What does Aura do?
Aura’s long list of features covers basics like credit monitoring, data breach alerts and identity theft insurance. The app — available for mobile and desktop devices — also scans the web for uses of your financial and personal information and includes other security features like a U.S.-based virtual private network, or VPN, an Experian credit lock and access to an expert fraud resolution team.
The credit lock doesn’t block others from accessing your credit files at the other two major credit bureaus, Equifax and TransUnion.
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How much does Aura cost?
Aura currently offers three plans with identity and fraud protection, starting at $15 per month or $144 per year (you choose whether to be billed monthly or annually). Aura offers a free 14-day trial for all plans and a 60-day money back guarantee on annual plans.
Here’s how the cost breaks down for Aura’s plans:
Individual
$144 annually ($12 per month).
$15 monthly.
$264 annually ($22 per month).
$29 monthly.
$384 annually ($32 per month).
$50 monthly.
Is Aura worth the price?
As with other services, Aura’s approach to identity theft is more reactive than proactive. You may consider paying for an Aura plan if you’ve already been the victim of identity theft and want to monitor how your information is being used. It can also be helpful if you want to step up online protection for a large number of family members. The family plan supports an unlimited number of children and devices, something many competitors don’t match.
Aura’s individual plans are less expensive than similar plans from competitors like LifeLock and IdentityForce. And if you were already considering paying for a credit lock with Experian’s CreditLock service, which costs $24.99 a month, Aura’s individual plan would save you money.
But freezing your credit and monitoring your reports on your own is free. You may also have identity theft protection or restoration services available through your bank or insurance company, or as a result of a previous data breach. See if you’re already entitled to cheaper or free resources before purchasing a separate service like Aura.
Aura pros
Aura offers insurance up to $1 million per adult to cover losses and expenses related to identity theft. Highlights also include:
Monitors credit data at all three major credit bureaus, Equifax, Experian and TransUnion, and offers an Experian credit lock.
Provides VPN, antivirus software, safe web browsing and a password manager for multiple devices.
Monitors your financial accounts, home and auto titles, and the dark web.
The family plan allows up to five adults, plus an unlimited number of kids and devices. Competitor plans typically have more restrictions.
Aura’s family plan also adds benefits like online parental controls, video game monitoring and local sex offender alerts.
Aura cons
Aura’s insurance coverage doesn’t apply to preexisting identity theft. Other potential drawbacks:
Does not monitor social media accounts.
Some features aren’t compatible with all devices.
Some users have reported difficulties using the app or staying connected to the VPN.
If you decide to cancel an annual plan after 60 days, you’ll still have to pay for the rest of the year.
Weigh the pros and cons carefully. Signing up for a free 14-day trial is a good way to test whether Aura is right for you.
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Are you looking for the best online jobs that pay daily? Online jobs that pay daily are great opportunities if you’re looking to earn money quickly and conveniently. These online jobs let you work from home or anywhere with an internet connection. There are many tasks that you can get paid to do, from taking…
Are you looking for the best online jobs that pay daily?
Online jobs that pay daily are great opportunities if you’re looking to earn money quickly and conveniently. These online jobs let you work from home or anywhere with an internet connection. There are many tasks that you can get paid to do, from taking surveys and playing games to writing and freelancing.
For me, I like work-from-home jobs that pay daily because of their flexibility and ease of starting, which is great if you want to get paid daily instead of waiting for a weekly or monthly paycheck.
Plus, some of the online jobs that pay daily below will allow you to earn a full-time income, or just some spare extra income – so you have flexibility to choose what will fit your schedule best.
Best Online Jobs That Pay Daily
Here’s a quick summary of my top online jobs that pay daily:
Below are the best online jobs that pay daily.
1. Blogging
Blogging is a great way to make money online and get paid daily. You don’t need to spend a lot to start, and all you need is a computer and an internet connection.
You can blog about any topic you like and I recommend to think about what interests you. Popular topics include travel, personal finance, lifestyle, and food.
To make money blogging, you can use ads, sponsored posts, and affiliate marketing. This means you earn money when readers see ads, companies pay you to write about their products, or you get a commission when people buy through your referral links.
Plus, because there are so many different ways to make money blogging, there is a good chance that you can earn several payouts throughout the month. I get money deposited into my bank account nearly every single day from my blog, which is nice!
I have a free training that you can take – How To Start A Blog FREE Course. Want to see how I built a $5,000,000 blog? In this free course, I show you how to create a blog, from the technical side to earning your first income and attracting readers.
2. Online surveys
Online surveys are a simple way to make extra money from home. You just need a computer or a cell phone with internet access. You can earn points (and redeem your points for cash and gift cards if you accrue enough) the same day as you answer surveys.
And, taking surveys doesn’t require any special skills. You just need to answer honestly, so it’s an easy and flexible way to bring in some extra cash.
Some paid survey sites where you can take surveys include:
Freecash
Prime Opinion
American Consumer Opinion
Survey Junkie
Swagbucks
InboxDollars
Five Surveys
Branded Surveys
I’ve answered many surveys over the years. I liked doing them during short breaks in my day, like before and after work, during lunch, or while riding in a car. They are easy and usually only take a few minutes.
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Swagbucks is a site where you can earn points for surveys, shopping online, watching videos, using coupons, and more. You can use your points for gift cards and cash.
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Once you complete five surveys, you’ve earned $5, which you can cash out using the payout options offered by the site (such as PayPal cash and free Amazon gift cards).
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Prime Opinion is a survey website that helps people to earn extra money by sharing their opinions at home. It’s a simple survey site to use: you share your thoughts, and they pay you for them.
3. Proofreading
Proofreading is a great online job that pays daily. As a freelance proofreader, you can invoice your clients after you complete a project and get paid the same day.
Writers often make errors in their work, and proofreaders help catch those mistakes. This job involves checking for grammar, spelling, and punctuation errors in different kinds of writing.
For example, proofreaders proofread blog posts, student papers, articles, ads, and more. It’s a flexible job you can do from home or anywhere in the world.
The pay for proofreading jobs can vary. Beginners might make around $20 to $25 per hour. With more experience, you could earn up to $50 or more per hour. Specialized fields like medical or technical proofreading may pay higher rates.
The best part is, you can start even if you have no experience as this is something you can learn. You will need a good eye for detail and a strong grasp of language to succeed.
If you enjoy reading and spotting errors, proofreading could be a fun and profitable job for you. Plus, it’s an excellent way to make money every day while working on your own terms.
You can learn more at 20 Best Online Proofreading Jobs For Beginners (Earn $40,000+ A Year).
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This free 76-minute workshop answers all of the most common questions about how to become a proofreader, and even talks about the 5 signs that proofreading could be a perfect fit for you.
4. Bookkeeping
Bookkeeping can be a great online job that pays daily. If you like working with numbers, this is a flexible option for you. You can work from home and you don’t need a degree or much experience to get started.
Bookkeepers handle tasks like recording financial transactions and organizing receipts. They also create financial reports and manage budgets. Many businesses need these types of tasks done so that they can stay organized.
Many online bookkeeping jobs pay well, around $40,000 or more each year. This can be very good if you’re looking for a stable income from home.
You can learn more at Online Bookkeeping Jobs: Learn How To Get Started Today.
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This free training will show you how to start a profitable bookkeeping side-hustle in the next 30 days—even if you have no prior experience!
5. Play online games
Playing online games can be a fun way to earn money from home. There are many apps available that let you play games and collect real money or gift cards as rewards.
You can earn points (and redeem your points for cash and gift cards if you accrue enough) the same day as you play games.
Here’s a quick list of the top game platforms that pay real cash:
KashKick
Freecash
Swagbucks
InboxDollars
Game apps give real money rewards because they make money from ads and in-app purchases. They share some of this money with players like us to keep us playing their games.
Recommended reading: 23 Best Game Apps To Win Real Money
6. Sell stuff online
Selling things online is a great way to make money every day, and you can sell clothes, old phones, books, unused gift cards, kitchen items, and jewelry.
Many people have lots of items just lying around, so you could easily find things to sell without spending money on new stock.
You can quickly sell your items by listing them on sites like eBay, Craigslist, or Facebook Marketplace.
I have sold many items over the years and gotten paid the same exact day. It’s a great way to make money the same day with the things that you already have.
7. Transcriptionist
Transcription work is one of the top online jobs that pay daily with no experience needed to get started. Their job is to listen to audio or video files and type out everything that is being said. Transcriptionists need good listening and typing skills to do this job well.
One of the best things about transcription is you can work from home and have the flexibility to set your own schedule. This means you can work in the evenings, on weekends, or whenever you have free time.
There are different types of transcription jobs.
General transcription involves typing out things like interviews, podcasts, and videos.
Medical transcription requires you to type out doctors’ notes and medical records.
Legal transcription involves court hearings and legal documents.
Beginners can find work easily, especially in general transcription. You don’t need special training for most general transcription jobs. Sites like Rev, TranscribeMe, and Scribie are known for hiring beginners. They usually pay per audio hour, which means you get paid for each hour of audio you transcribe.
Beginners usually make $15 to $20 per hour, but your speed and accuracy can affect your earnings. The faster and more accurate you are, the more you can make.
As a freelance transcriber, you can invoice your clients after you complete a project and get paid the same day.
You can learn more at 18 Best Online Transcription Jobs For Beginners To Make $2,000 Monthly.
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In this free training, you will learn what transcription is, why it’s a highly in-demand skill, who hires transcriptionists, how to become a transcriptionist, and more.
8. Freelance writing
Freelance writing is a great way to earn money daily from home and you just need a computer and good writing skills. Many websites pay you to write articles, blog posts, and other content.
Freelance writers typically start at around $50 to $100 per article and with experience can earn over $1,000 per article.
I have been a freelance writer for years, for many different types of clients and different niches – travel, personal finance, lifestyle, and more.
As a freelance writer, you can invoice your clients after you complete a project and get paid the same day.
You can learn more at 14 Places To Find Freelance Writing Jobs – (Start With No Experience!).
9. Virtual assistant
Virtual assistants help businesses with tasks like managing emails, scheduling meetings, social media posting, helping with SEO on a business website, and making travel arrangements. Many companies look for virtual assistants because it saves them time and money.
I have had a virtual assistant for many years now, and she helps my business run much more smoothly so that I can focus on other tasks – it is a much needed service!
One of the best things about being a virtual assistant is the flexibility. They can often set their own schedule and work from anywhere.
Virtual assistants can work for one company or several clients at once. This can keep the work interesting and help you build a wide range of skills. Plus, you can offer different services like social media management, customer service, and research.
Payment can vary and some virtual assistants are paid hourly, while others get a set fee for each job. Many platforms let you choose the payment method that works best for you. This can be helpful if you prefer getting paid daily or weekly.
You can learn more at Best Ways To Find Virtual Assistant Jobs.
10. Online tutoring
You can make money by tutoring students online, and this job lets you share your knowledge with kids or adults who need help with their studies.
All you need is a computer, a good internet connection, and a quiet place to work. Many tutoring jobs pay well, around $30 per hour on average and up to $50 or $60 per hour for advanced subjects like SAT Prep or calculus (and other higher level math subjects). Some subjects even pay well over $100 per hour.
You don’t always need to be an expert to start. Some jobs only require you to be good at what you teach and be able to explain it well. This makes online tutoring a great job for college students and part-time workers too.
Some sites to find online tutoring jobs include Pear Deck Tutor (formerly TutorMe), Wyzant, and Course Hero.
As an online tutor, you can invoice your clients after you complete a tutoring session and get paid the same day. Typically, with these types of same-day pay jobs, your client will pay right away.
11. Data entry jobs
Data entry jobs involve entering or updating information in a computer system or database, such as by typing info from documents into a digital format.
One perk of data entry is the chance to work from home as many companies hire for remote jobs that pay daily, letting you balance work with other activities.
You can find data entry jobs on websites like Indeed, Upwork, and Remote.co. Many of these online jobs pay daily after you complete a project, which makes it easy to get quick cash.
You’ll need good typing skills for this work because your typing speed and accuracy are important since you’ll be working with lots of data.
These jobs can pay well, too. Pay rates can range from $20 to $35 per hour. The rate can depend on your skills and the company’s budget.
You can learn more at 15 Places To Find Data Entry Jobs From Home.
12. Freecash
Freecash is a fun way to make extra money online. You can get paid for trying out apps, playing games, and answering surveys. The tasks are simple and only take a few minutes.
When you sign up, you’ll find many different offers. Each offer can earn you coins, which you can convert into cash or gift cards. The rewards can be used for PayPal, bank transfers, free gift cards, or even crypto.
One great thing about Freecash is that you can start earning almost right away. On average, it takes about 17 minutes to earn enough coins for your first cashout. This makes it one of the quicker ways to earn online.
I have personally redeemed over $400 in free gift cards from Freecash, so I know this site is real.
Click here to sign up for Freecash.
13. Sell printables on Etsy
Selling printables on Etsy is a great idea because you only need to create one digital file per product, which you can sell unlimited times.
Printables are digital products that customers can download and print at home, such as grocery shopping checklists, gift tags, candy bar wrappers, printable quotes for wall art, and patterns.
You can sell printables all day long, which means that you can get paid each day.
You can learn more at How I Make Money Selling Printables On Etsy.
Do you want to make money selling printables online? This free training will give you great ideas on what you can sell, how to get started, the costs, and how to make sales.
14. Website testing
Website testing is a great way to earn money online and get paid right away. Many companies will pay you to test their websites and apps, and all you need is a computer or mobile device and you can start making money.
You don’t need any special skills to get started either – most website testing platforms just want your honest feedback on how easy their site is to use.
Common tasks as a website tester include checking links, testing navigation, and reporting any issues. You might also be asked to complete certain actions, like making a purchase or signing up for a newsletter.
The pay you can make for website testing varies. Some tests pay as little as $5, while others can pay up to $90 for more detailed work. Generally, you can expect to earn around $10 to $30 per hour depending on the platform and the complexity of the test.
Platforms like UserTesting and IntelliZoom are popular choices. They have frequent testing opportunities and pay through PayPal, which makes it easy to get your money quickly.
In a typical week, you might get 1 to 3 testing opportunities. This makes it a good side hustle, especially if you need extra cash quickly. Plus, it’s a flexible job you can do from home or anywhere with an internet connection.
For me, I have personally hired a website tester to test my website, Making Sense of Cents. They sent over a video of their screen and them talking, where they talked about what they liked and didn’t like about my website. I found it very helpful to see what someone thought of my website from an unbiased view.
15. Dropshipping
Dropshipping is a great way to start an online business without much upfront cost. Dropshippers sell products directly to customers without having to keep the items in stock.
They choose a product, list it on their online store, and when someone buys it, they order it from a supplier (typically, this is done automatically). The supplier then ships it straight to the customer. And, you get paid the same day as the sale.
It’s important to pick the right products and reliable suppliers. Good suppliers help to make sure that customers get their orders quickly and in good condition.
You also need to market your store, of course. Use social media and online ads to attract buyers.
16. Microtask websites
Microtask websites give you the chance to earn money by completing small tasks. These tasks can be simple and quick, like answering surveys or testing apps.
One popular site is Amazon Mechanical Turk (MTurk). It’s known for its diverse range of tasks, such as transcription, writing, market research, moderating forums, labeling photographs, data collection, categorizing products, and more. You can pick what you want to do and get paid for each task you finish.
Fiverr is another option. You can list your skills, whether it’s writing, graphic design, voice-over work, or something else (there are literally thousands of different kinds of tasks that you can list). Clients hire you for gigs and you get paid once the job is done.
17. Translator
If you know more than one language, you can work as a translator. This job lets you use your language skills to help others understand different texts.
You will translate documents like medical, legal, or technical papers. You may even be translating articles or books. Many platforms allow you to sign up and start translating after passing a test.
Platforms, like Upwork, have many translation jobs. You set up a profile and showcase your skills, and you can choose the jobs that match your expertise and agree on a payment rate with the client.
Hourly rates for translators can vary. Some jobs might pay around $20 per hour, while more specialized or urgent work can pay up to $100 per hour. Your pay depends on the complexity of the job and your speed.
As a freelance translator, you can invoice your clients after you complete a project and get paid the same day.
Frequently Asked Questions
Below are answers to common questions about how to find online jobs that pay daily.
What app lets you work and get paid daily?
Apps like DoorDash, Postmates, and Instacart allow you to deliver food and get paid the same day. These are apps where you work in person and not strictly online.
How to make $25 dollars an hour online?
Freelance writing can help you earn $25 an hour if you’re a fast writer. Proofreaders can also make good money. For me, I am a full-time blogger and I make over $25 per hour online.
How to make money and get paid the same day?
To make money and get paid the same day, you can do things like freelance writing or proofreading, starting a blog, selling printables, taking online surveys, playing games online, data entry, and more.
What are free online jobs that pay daily without investment?
There are many online jobs that pay daily without investment that you can start, such as proofreading, bookkeeping, writing, and translating. There are also sites that you can sign up for and earn spare cash, such as by answering surveys, testing out cell phone apps, and playing games online.
What are remote jobs that pay daily?
There are many remote jobs that pay daily in areas like writing, proofreading, and bookkeeping. Website testing on platforms like UserTesting can pay quickly. Data entry jobs can also have frequent payout options. These jobs let you work from home and earn fast.
What are the best online jobs that pay daily for students?
There are many online jobs for college students that can pay daily, such as selling items on Amazon, answering paid online surveys, starting an online store, reselling items online, and more.
How To Find Online Jobs That Pay Daily
I hope you enjoyed this article on how to find the best online jobs that pay daily.
There are many online jobs that pay daily cash and even some where you can work online and get paid instantly.
These include blogging (my favorite way to earn income every day), answering online surveys, proofreading, bookkeeping, selling stuff online (I have done this many times and it’s easy!), transcribing files, writing, selling printables, website testing, dropshipping, and more.
These fast-paying jobs may pay via direct deposit, check, free gift cards, PayPal cash, and more. It all just depends on what you are looking for.
What do you think are the best online jobs that pay daily?
Bank guarantees are often used in real estate contracts and infrastructure projects, while letters of credit are primarily used in global transactions. But a bank guarantee and a letter of credit are quite similar.
With both instruments, the issuing bank accepts a customer’s liability if the customer defaults on the money it owes, and they both, effectively, are a show of good faith from a lending institution that ensures the bank will step up if a debtor can’t cover a debt.
What Is a Bank Guarantee?
Bank guarantees represent a more significant contractual obligation for banks than letters of credit do. With a guarantee, the seller’s claim goes first to the buyer, and if the buyer defaults, then the claim goes to the bank.
Bank guarantees serve a key purpose for businesses. The bank, through their due diligence of the applicant, provides credibility to them as a viable business partner in a particular business dealing. In essence, the bank puts its seal of approval on the applicant’s creditworthiness, co-signing on behalf of the applicant as it relates to the specific contract the two external parties are undertaking.
A bank guarantee is an assurance from a bank regarding a contract between a buyer and a seller. Essentially, the bank guarantee acts as a risk management tool. A bank guarantee provides support and assurance to the beneficiary of the payment, as the bank guarantee means that the bank is assuming liability for completion of the contract.
This means that if the buyer defaults on their debt or obligation, the bank makes sure the beneficiary receives their payment.
Any business may benefit from a bank guarantee, but especially small businesses that would be more affected if a payment from a business partner or customer falls through.
Bank guarantees only apply to a certain monetary amount and last for a set period of time. There will be a contract in place that dictates in which scenarios and at what point in time the guarantee is applicable.
Before taking on a bank guarantee, the bank does research on the applicant to make sure they are credible and will act as a reliable business partner. In a way, a bank guarantee serves as a seal of approval as the bank has good reason (they’re on the hook for the money) to only accept creditworthy applicants.
Types of Bank Guarantees
There are a few different types of bank agreements, here’s a closer look at the main ones.
Financial Bank Guarantee
With a financial bank guarantee the bank guarantees that the buyer repays all debts they owe to the seller and if they fail to pay those various types of debts, the bank has to assume responsibility for the money owed. The buyer will need to pay a small initial fee when the guarantee is issued.
Performance-Based Bank Guarantee
When it comes to a performance-based guarantee, the beneficiary has the right to seek reparations from the bank if contractual obligations aren’t met due to non-performance. If the counterparty doesn’t deliver on promised services, then the beneficiary will have the choice to claim resulting losses caused by the lack of performance.
Foreign Bank Guarantee
Foreign bank guarantees can apply to unique scenarios such as international export situations. In this case, there may be a fourth party involved — a correspondent bank operating where the beneficiary resides.
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What Is a Letter of Credit?
A letter of credit (sometimes referred to as a credit letter) is a document provided by a financial institution such as a bank or credit union that guarantees a payment will be made during a business transaction. The bank acts as an impartial third party throughout the transaction.
When the bank issues a letter of credit, they are assuring that the purchaser will in fact pay for any goods or services on time and in full. If the buyer doesn’t make their payment on time and in full, the bank that issued the letter of credit will guarantee that they will make the payment instead. The bank will cover any remaining overdue balance as long as it doesn’t surpass the full purchase amount.
Letters of credit are commonly used in international trade (but can be used domestically as well) where, understandably, companies require more certainty when making deals across borders. A letter of credit can provide security and confidence to importers and exporters since they know the issuing bank guarantees the payment.
Applicants for letters of credit need to work with a lender in order to secure this backing. The applicant will need to provide a purchase contract, and a copy of the purchase order or export contract (among other documents) during the application process. Applicants will pay a fee to obtain the letter of credit and it usually equates to a percentage of the amount the letter of credit backs.
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Types of Letters of Credit
There are multiple types of letters of credit, with some being more common than others, and some applying to unique situations. Here’s a look at the main types.
Commercial Letter of Credit
This type of letter of credit applies to commercial transactions and is commonly used for international trade deals. In this case the bank makes a direct payment to the beneficiary.
Standby Letter of Credit
A standby letter of credit acts as a secondary payment method. The bank will pay the beneficiary if they are able to prove they didn’t receive the promised product or service from the seller.
Revolving Letter of Credit
A revolving letter of credit can help secure multiple transactions when two parties anticipate doing multiple deals.
Traveler’s Letter of Credit
With a traveler’s letter of credit, the issuing bank guarantees to honor letters of credit signed at certain foreign banks.
Confirmed Letter of Credit
This type of letter of credit specifies that the seller’s bank will be the party to ensure that the seller receives payment if the buyer and their issuing bank default on the agreement.
Special Considerations
Bank guarantees and letters of credit differ slightly, but both serve the same purpose: to give confidence and protection during transactions.
Because the financial institutions that back these guarantees confirm that the buyer is creditworthy in the case of a bank guarantee or a letter of credit, the seller can be confident that the transaction should go through as planned if they have one of these agreements in place. If it does not, they know they’ll still receive payment from the institution that backed the agreement.
Key Differences between a Bank Guarantee and Letter of Credit
These are the most important differences to know about a bank guarantee vs. a letter of credit.
Liability
With some letters of credit the bank pays the seller directly so they take on the primary liability.
With a bank guarantee they only pay if the buyer fails to do so, so they take on a secondary liability.
Risk
The bank takes on more risk with a letter of credit as they take on the primary liability, but that means the seller and customer take on more risk with a bank guarantee.
Number of Parties Involved
At least three parties are involved in letters of credit and bank guarantee transactions. To start there is the buyer, seller, and a bank or other type of financial institution. With a letter of credit, a lender also gets involved. Sometimes two banks (more common in foreign transactions) are involved in a letter of credit or bank guarantee.
Payment
With a bank guarantee, the bank only makes payment if the buyer fails to do so. With a letter of credit this is also usually the case, but the bank can be more involved in the transaction, so disputes tend to be resolved faster.
The Takeaway
When considering a letter of credit versus bank guarantee, both can help two parties involved in a transaction feel more confident that the seller will be paid and the buyer will receive the goods or services promised — or they will be reimbursed by the bank that issued the agreement. Each type of agreement may be especially helpful when conducting business across borders.
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FAQ
How is a letter of credit different from a bank guarantee?
When it comes to a bank guarantee vs. a letter of credit, both letters of credit and bank guarantees function very similarly. The main difference is that with a letter of credit the bank takes on more risk than they do with a bank guarantee.
What is a bank guarantee and how does it work?
A bank guarantee is an assurance from a bank that a contract between a buyer and a seller will be executed or they will reimburse the wronged party accordingly.
What is the primary difference between a standby letter of credit and a bank guarantee?
The main difference between a letter of credit and a bank guarantee is risk level. With a bank guarantee the bank takes on less risk than they do with a letter of credit.
Photo credit: iStock/fizkes
SoFi members with direct deposit activity can earn 4.60% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. Direct Deposit means a recurring deposit of regular income to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government benefit payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Direct Deposit”) via the Automated Clearing House (“ACH”) Network during a 30-day Evaluation Period (as defined below). Deposits that are not from an employer or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g., IRS tax refunds), do not constitute Direct Deposit activity. There is no minimum Direct Deposit amount required to qualify for the stated interest rate.
As an alternative to direct deposit, SoFi members with Qualifying Deposits can earn 4.60% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Qualifying Deposits means one or more deposits that, in the aggregate, are equal to or greater than $5,000 to an account holder’s SoFi Checking and Savings account (“Qualifying Deposits”) during a 30-day Evaluation Period (as defined below). Qualifying Deposits only include those deposits from the following eligible sources: (i) ACH transfers, (ii) inbound wire transfers, (iii) peer-to-peer transfers (i.e., external transfers from PayPal, Venmo, etc. and internal peer-to-peer transfers from a SoFi account belonging to another account holder), (iv) check deposits, (v) instant funding to your SoFi Bank Debit Card, (vi) push payments to your SoFi Bank Debit Card, and (vii) cash deposits. Qualifying Deposits do not include: (i) transfers between an account holder’s Checking account, Savings account, and/or Vaults; (ii) interest payments; (iii) bonuses issued by SoFi Bank or its affiliates; or (iv) credits, reversals, and refunds from SoFi Bank, N.A. (“SoFi Bank”) or from a merchant.
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Thursday night’s global technology outage is continuing to affect air travelers today, and it may be hours before airlines can catch up.
The outage was caused by a software update from cybersecurity company CrowdStrike, which affected millions of devices using Microsoft, including computers used by airlines, banks and other businesses. Even though CrowdStrike says a fix was deployed and airlines have resumed operations, there will continue to be cancellations and delays today.
As of 2:30 p.m. EST, more than 2,000 flights within, in and out of the U.S. were canceled today — and that’s not counting the delays, which totaled more than 7,000, according to flight tracking service FlightAware.
If you are flying today, check your flight status frequently with your airline before you go to the airport. The most up-to-date information is usually in the airline’s app, so make sure to download it ahead of time for quick access to the latest updates.
You might also want to monitor updates from your departure airport. Some airports are experiencing delays of two hours or more, according to the Federal Aviation Administration. Hartsfield-Jackson Atlanta International Airport (ATL) is the hardest hit airport in the U.S. right now, experiencing average delays of 374 minutes (roughly 6 hours) for departures. New York City-area airports are also some of the hardest hit, with John F. Kennedy International Airport (JFK) delays averaging 171 minutes (nearly 3 hours) and LaGuardia (LGA) averaging 129 minutes (just over 2 hours).
Here are some other steps you can take if you are one of the affected passengers traveling or planning to travel today.
Change your flight
American Airlines, Delta Air Lines, Frontier Airlines, Spirit Airlines and United Airlines have issued waivers for passengers traveling today from certain airports. These waivers will allow passengers to change flights to another day without having to pay a fare difference or change fee. You cannot change the departure or arrival airport or your cabin.
Delta’s and Frontier’s waiver applies to all customers flying today, regardless of airport. Spirit Airlines’ waiver applies to all customers flying today and tomorrow.
American’s waiver, meanwhile, is available for flyers traveling to, from or through these airports:
Boston, Massachusetts (BOS).
Charlotte, North Carolina (CLT).
Chicago-O’Hare, Illinois (ORD).
Dallas-Fort Worth, Texas (DFW).
Los Angeles, California (LAX).
Miami, Florida (MIA).
New York-JFK, New York (JFK).
New York-LGA, New York (LGA).
Philadelphia, Pennsylvania (PHL).
Phoenix, Arizona (PHX).
Washington-Reagan, Washington, D.C. (DCA).
The United Airlines waiver affects travelers going to, from or through these airports:
Cleveland, Ohio (CLE).
Denver, Colorado (DEN).
Newark, New Jersey (EWR).
Frankfurt, Germany. (FRA).
Guam, United States (GUM).
Honolulu, Hawaii (HNL).
Washington-Dulles, Washington, D.C. (IAD).
Houston, Texas (IAH).
Los Angeles, California (LAX).
London- Heathrow, United Kingdom (LHR).
Orlando, Florida (MCO).
Chicago-O’Hare, Illinois (ORD).
San Francisco, California (SFO).
What to do if your flight is canceled
If an airline cancels your flights, look for rebooking options in the app or online right away. That’ll be faster than waiting for a customer service agent over the phone or at the airport. Keep in mind that airlines are being bombarded with calls and messages right now, so expect longer on hold times.
Here are the cancellation policies by airline:
🤓Nerdy Tip
If you’re not getting through to a customer service agent, you can try reaching out to your airline on X (formerly Twitter).
What to do if your flight is delayed
If you must fly out today, get comfortable at the airport. You might be waiting a while. This is when a credit card with lounge access might be handy. Though you probably won’t be escaping crowds there, it might give you a more comfortable place to sit while you wait it out.
In the interim, you can work on getting your flight delay compensation to pay for meals at the airport during the delay. Most airlines will give meal vouchers for delays of three hours or more.
Here are the flight delay compensation policies by airline:
Other ways to get compensation
When an airline cancels or significantly delays a flight, the Department of Transportation only requires airlines to refund passengers if the passenger chooses not to accept the rebooking. If you opt to not travel with your original airline or you simply decide not to travel altogether, you are entitled to a refund.
Top cards with travel insurance
Chase Sapphire Preferred® Card
on Chase’s website
Chase Sapphire Reserve®
on Chase’s website
The Platinum Card® from American Express
Ink Business Preferred® Credit Card
on Chase’s website
Annual fee
Travel protections (not a comprehensive list)
• Trip delay: Up to $500 per ticket for delays more than 12 hours.
• Trip cancellation: Up to $10,000 per person and $20,000 per trip. Maximum benefit of $40,000 per 12-month period.
• Trip interruption: Up to $10,000 per person and $20,000 per trip. Maximum benefit of $40,000 per 12-month period.
• Baggage delay: Up to $100 per day for five days.
• Lost luggage: Up to $3,000 per passenger.
• Trip delay: Up to $500 per ticket for delays more than 6 hours.
• Trip cancellation: Up to $10,000 per person and $20,000 per trip. Maximum benefit of $40,000 per 12-month period.
• Trip interruption: Up to $10,000 per person and $20,000 per trip. Maximum benefit of $40,000 per 12-month period.
• Baggage delay: Up to $100 per day for five days.
• Lost luggage: Up to $3,000 per passenger.
• Trip delay: Up to $500 per trip for delays more than 6 hours.
• Trip cancellation: Up to $10,000 per trip. Maximum benefit of $20,000 per 12-month period.
• Trip interruption: Up to $10,000 per trip. Maximum benefit of $20,000 per 12-month period.
• Lost luggage: Up to $3,000 per passenger.
Terms apply.
• Trip delay: Up to $500 per ticket for delays more than 12 hours.
• Trip cancellation: Up to $10,000 per trip. Maximum benefit of $20,000 per 12-month period.
• Trip interruption: Up to $10,000 per trip. Maximum benefit of $20,000 per 12-month period.
• Baggage delay: Up to $100 per day for five days.
• Lost luggage: Up to $3,000 per passenger.
Learn more
To view rates and fees of The Platinum Card® from American Express, see this page.
By most definitions, an annual salary of $90,000 is considered good. In fact, it’s quite a bit higher than the average salary nationwide, which is $63,795, according to the Social Security Administration. If you’re a single person and only supporting yourself, that income should allow you to cover the necessities with enough left over for saving and entertainment.
But just how far your money goes depends largely on factors like your spending habits, your financial obligations, and the cost of living in your area. If you earn $90,000 and live in San Francisco or New York, two of the priciest cities in the country, you may find yourself pinching pennies or living paycheck to paycheck. On the other hand, if you settle down in a more affordable location, such as Winston-Salem, NC, you should find you can live a more comfortable life on a $90,000 salary.
Is $90K a Good Salary?
While $90,000 a year is generally considered a good salary for a single person, whether that’s the case for you depends on your spending habits and financial situation. For example, if you have a lot of debt or live in a pricey area, you may find it more of a challenge to get by on that salary.
One good way to think about your salary is to look at where your money is currently going. Using a money tracker or other type of tool, make a list of your recurring expenses and see if your income is able to keep up. If it is, then that is a good sign that you are making a satisfactory salary for your situation.
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Recommended: U.S. Average Income by Age
Median Income in the US by State in 2024
There are different ways to think about a $90,000 salary. You can compare it to the average salary in the U.S. which as we mentioned earlier is $63,795. Or see how it stacks up against the median national salary, which was $59,384 in Q4 2023, according to the U.S. Bureau of Labor Statistics (BLS). In both cases, $90,000 far exceeds what a typical American worker earns in a year.
But how does that salary compare to what a typical household earns in a year? The answer varies widely by state, as the U.S. Census Bureau data below shows. For instance, Maryland has the highest median annual salary at $98,461 and Mississippi has the lowest, at $52,985 per year.
State
Median Household Income
Alabama
$59,609
Alaska
$86,370
Arizona
$72,581
Arkansas
$56,335
California
$91,905
Colorado
$87,598
Connecticut
$90,213
Delaware
$79,325
Florida
$67,917
Georgia
$71,355
Hawaii
$94,814
Idaho
$70,214
Illinois
$78,433
Indiana
$67,173
Iowa
$70,571
Kansas
$69,747
Kentucky
$60,183
Louisiana
$57,852
Maine
$68,251
Maryland
$98,461
Massachusetts
$96,505
Michigan
$68,505
Minnesota
$84,313
Mississippi
$52,985
Missouri
$65,920
Montana
$66,341
Nebraska
$71,772
Nevada
$71,646
New Hampshire
$90,845
New Jersey
$97,126
New Mexico
$58,722
New York
$81,386
North Carolina
$66,186
North Dakota
$73,959
Ohio
$66,990
Oklahoma
$61,364
Oregon
$76,362
Pennsylvania
$73,170
Rhode Island
$81,370
South Carolina
$63,623
South Dakota
$69,457
Tennessee
$64,035
Texas
$73,035
Utah
$86,833
Vermont
$74,014
Virginia
$87,249
Washington
$90,325
West Virginia
$55,217
Wisconsin
$72,458
Wyoming
$72,495
Average Cost of Living in the US by State in 2024
The cost of living in your area can heavily impact how well you’re able to live on your income. While high salaries and high costs of living tend to go together, there is not always a perfect correlation. A cost of living calculator can help you determine the expenses where you’re living now and where you might consider moving in the future.
In addition, the U.S. Bureau of Economic Analysis compiles a list of how much residents in each state spend on necessities like housing, utilities, food, and health care. That information, found in the chart below, can also be useful.
State
Personal Consumption Expenditure
Alabama
$42,391
Alaska
$59,179
Arizona
$50,123/td>
Arkansas
$42,245
California
$60,272
Colorado
$59,371
Connecticut
$60,413
Delaware
$54,532
Florida
$55,516
Georgia
$47,406
Hawaii
$54,655
Idaho
$43,508
Illinois
$54,341
Indiana
$46,579
Iowa
$45,455
Kansas
$46,069
Kentucky
$44,193
Louisiana
$45,178
Maine
$55,789
Maryland
$52,651
Massachusetts
$64,214
Michigan
$49,482
Minnesota
$52,849
Mississippi
$39,678
Missouri
$48,613
Montana
$51,913
Nebraska
$37,519
Nevada
$49,522
New Hampshire
$60,828
New Jersey
$60,082
New Mexico
$43,336
New York
$58,571
North Carolina
$47,834
North Dakota
$52,631
Ohio
$47,768
Oklahoma
$42,046
Oregon
$52,159
Pennsylvania
$53,703
Rhode Island
$52,820
South Carolina
$46,220
South Dakota
$48,997
Tennessee
$46,280
Texas
$49,082
Utah
$48,189
Vermont
$55,743
Virginia
$52,057
Washington
$56,567
West Virginia
$44,460
Wisconsin
$49,284
Wyoming
$52,403
How to Budget for a $90K Salary
While $90,000 can provide a good life for a single person, it’s still a smart idea to create a budget you’ll be able to follow. After all, no matter how high your income is, you can usually find things to spend it on. And without a budget, it can be easy to spend what you have mindlessly.
There are several ways to approach budgeting. One, the 50/30/20 budgeting method, is straightforward: Simply earmark 50% of your paycheck for necessities (such as housing, transportation, and food); 30% for wants (such as meals out and travel); and 20% for saving and paying down debt.
If you need help getting started, tools like a budget planner app can guide you through creating a budget, tracking spending, and even monitoring your credit.
Maximizing a $90K Salary
You may not be pinching pennies if you’re earning $90K a year, but you’re likely interested in getting the most out of your income. Here are some ideas to explore:
• Build up an emergency fund. Your rainy-day fund should have enough to cover three to six months’ worth of expenses.
• Pay down debt. Once your emergency fund is well established, turn your focus to paying off revolving debt.
• Invest in your future. Have a 401(k) retirement plan through your employer? Check your budget and see if you can afford to ramp up your monthly contributions.
Quality of Life with a $90K Salary
Because a $90,000 annual salary is higher than the average salary in the United States — and a generous entry-level salary for most fields — chances are you can have a good quality of life if you make that much money.
However, everyone’s financial situation is unique, and as mentioned above, different areas of the U.S. have higher or lower cost of living. Your quality of life with a $90K salary is likely to be higher in a state with a lower cost of living, like Iowa or Kentucky, than it is in a state with a high cost of living, such as California or Massachusetts.
Is $90,000 a Year Considered Rich?
There are many definitions for what constitutes being “rich.” Depending on yours, a single person who lives in an area with a low cost of living and earns $90,000 a year might be considered well-off. But it’s worth noting that many definitions of rich typically focus on your total assets rather than your annual salary.
In that case, it may make sense to calculate your net worth, which just involves subtracting your outstanding debts or liabilities from the value of your combined assets. If your assets are worth more than your liabilities, your net worth is positive. If your liabilities are greater than your assets, your net worth is negative.
Recommended: Net Worth Calculator by Age
Is $90K a Year Considered Middle Class?
Depending on where you live and your household size, you may be classified as middle class. According to the Pew Research Center, a middle-class household has an income between $47,189 and $141,568. A $90,000 salary is well within that range.
Example Jobs that Make About a $90,000 Salary
Salaries can vary dramatically depending on the level of experience and the area of the country you live in. With that in mind, here are some jobs that pay around $90,000 per year, according to the BLS:
• Registered nurse: $94,480
• Web developer: $92,750
• Psychologist: $92,740
• Agricultural engineer: $88,750
• Dental hygienist: $87,530
If you’re looking for more inspiration, you can also look at lists of the highest-paying jobs by state.
Recommended: 30 Best Jobs for Introverts
The Takeaway
While it’s not quite a six-figure salary, $90,000 for a single person is still higher than the average annual salary in the United States. Because of this, it can generally be considered a good salary for someone who is supporting only themself.
However, your cost of living and your overall financial situation will play a big role in determining your quality of life on a $90K salary. No matter what your salary, a smart first step in establishing a solid financial footing is to create and stick to a budget.
Take control of your finances with SoFi. With our financial insights and credit score monitoring tools, you can view all of your accounts in one convenient dashboard. From there, you can see your various balances, spending breakdowns, and credit score. Plus you can easily set up budgets and discover valuable financial insights — all at no cost.
See exactly how your money comes and goes at a glance.
FAQ
Can I live comfortably making $90K a year?
Whether you can live comfortably making $90K a year will depend on a number of factors, including your local cost of living, financial obligations, and spending habits. That said, a single person with little to no debt who lives in an affordable area can likely be comfortable with such a salary.
What can I afford with a $90K salary?
While $90K is not quite a six-figure salary, it is close. As such, most single people with a $90K salary should be able to afford all of their necessities, along with some extras including saving for retirement.
How much is $90K a year hourly?
A $90,000 annual salary works out to around $43.27 an hour.
How much is $90K a year monthly?
If you earn $90K a year, your monthly income is roughly $7,500.
How much is $90K a year daily?
A $90,000 salary breaks down to approximately $375 per working day.
Photo credit: iStock/alvarez
SoFi Relay offers users the ability to connect both SoFi accounts and external accounts using Plaid, Inc.’s service. When you use the service to connect an account, you authorize SoFi to obtain account information from any external accounts as set forth in SoFi’s Terms of Use. Based on your consent SoFi will also automatically provide some financial data received from the credit bureau for your visibility, without the need of you connecting additional accounts. SoFi assumes no responsibility for the timeliness, accuracy, deletion, non-delivery or failure to store any user data, loss of user data, communications, or personalization settings. You shall confirm the accuracy of Plaid data through sources independent of SoFi. The credit score is a VantageScore® based on TransUnion® (the “Processing Agent”) data.
*Terms and conditions apply. This offer is only available to new SoFi users without existing SoFi accounts. It is non-transferable. One offer per person. To receive the rewards points offer, you must successfully complete setting up Credit Score Monitoring. Rewards points may only be redeemed towards active SoFi accounts, such as your SoFi Checking or Savings account, subject to program terms that may be found here: SoFi Member Rewards Terms and Conditions. SoFi reserves the right to modify or discontinue this offer at any time without notice.
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.
Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.
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.
Live in Oregon or thinking of moving there? If so, you might be interested in knowing where you stand salary-wise compared to other 49 states.
The latest figures from the U.S. Bureau of Labor Statistics (BLS) reports the average annual income for Oregonians is $66,710, That’s slightly higher than the average annual salary in the U.S. of $65,470. Of course, an individual’s yearly earnings depend on several factors, including their occupation, level of education, age, and professional experience.
Here’s a closer look at the average salary in Oregon by age, city, and county, along with some of the highest paying jobs in the Beaver State:
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Average Salary in Oregon by Age in 2024
As with other states, the highest earners in Oregon fall within the 25 to 64 age range, with a salary decline around retirement time. The salary peaks tend to be commensurate with age and experience. Not surprisingly, entry-level salaries in Oregon tend to be on the lower end of the spectrum.
Age range
Median salary
15-24
$45,239
25-44
$86,934
45-64
$89,663
65 and over
$55,973
Source: Nasdaq
Recommended: U.S. Average Income by Age
Average Salary in Oregon by City in 2024
You don’t need a money tracker to tell you that the city you live in can greatly influence how much you make each year. Oregon is no different. Per ZipRecruiter, here are the average salaries in 10 Oregon cities:
• Myrtle Point: $92,446
• Salem: $76,125
• Gold Beach: $74,126
• New Hope: $70,922
• Nesika Beach: $70,351
• Portland: $69,904
• Melrose: $68,811
• Coquille: $68,534
• Bunker Hill: $68,454
• Eola: $67,962
Average Salary in Oregon by County in 2024
Salaries can vary per county as a result of different factors. These can include whether the county is home to a larger city, where there’s more variety in work opportunities, a need for skilled workers, and the possibility of higher pay.
According to the latest Oregon state government figures, here’s an overview of the average annual salary in select counties:
• Morrow County: $64,067
• Benton County: $62,757
• Sherman County: $57,081
• Linn County: $51,902
• Umatilla County: $50,758
• Douglas County: $50,220
• Tillamook County: $49,350
• Klamath County: $48,488
• Curry County: $44,201
• Wheeler County: $36,359
Examples of the Highest-Paying Jobs in Oregon
A well-paying job can allow you to live a very comfortable lifestyle in Oregon. Oregon’s top paying jobs provide a six-figure salary, and tend to be in the medical field. However, occupations in business, science, and technology also make the list of some of the biggest salaries.
According to the BLS, some of Oregon’s highest-paying jobs are:
• Dermatologist: $481,330
• Anesthesiologist: $444,090
• Orthopedic surgeon: $421,790
• CEO: $371,290
• Obstetricians and gynecologists: $329,680
• Psychiatrist: $287,370
• Pediatrician: $219,110
• Computer and Information Research Scientist: $178,790
• Dentist: $177,440
• Physicist: $169,720
There are other occupations in Oregon with an annual salary of $85,000 or more a year that can allow for a more flexible schedule or be done remotely, such as an art director, financial specialist, web designer, or writer. These are jobs that can easily be work-from-home situations, which can offer opportunities for introverts.
Whatever your current salary, there are always ways to maximize your earnings by monitoring your spending and setting up a budget. A budget planner app can help with both.
Recommended: 2024 Net Worth Calculator by Age with Examples
The Takeaway
Considering moving to Oregon and wondering if you can afford it? The average annual income for Oregonians is $66,710, which is slightly more than $65,470, the average annual salary in the U.S. There are many counties and towns in Oregon where making this amount of money can provide a nice quality of life, though some cities and certain regions will be more expensive. However, the state is home to many high-earning occupations, and people between the ages of 25 and 64 are in a prime spot for earning a livable salary in the Beaver State.
Take control of your finances with SoFi. With our financial insights and credit score monitoring tools, you can view all of your accounts in one convenient dashboard. From there, you can see your various balances, spending breakdowns, and credit score. Plus you can easily set up budgets and discover valuable financial insights — all at no cost.
See exactly how your money comes and goes at a glance.
FAQ
What is a good average salary in Oregon?
The median household income in Oregon is $86,780 according to the Federal Reserve Bank of St. Louis. The size of your family, your basic expenses, and the area you live, as well as other factors, can determine how far the money can stretch.
What is the average gross salary in Oregon?
The average annual gross salary in Oregon is $66,710, which breaks down to a monthly salary of $5,559.17 and $2,565.77 biweekly. This translates to $1,282.88 weekly, $256.58 daily, and an hourly wage of $32.07. Since the median rent in Oregon is $2,228 a month, you’ll want to earn more than the median yearly salary in order to be able to cover all of your expenses and possibly have some left over for savings and entertainment.
What is the average income per person in Oregon?
The annual average personal income in Oregon is $65,426, per the latest figures from the Federal Reserve Bank of St. Louis.
What is a livable wage in Oregon?
In order to make a living wage in Oregon, a single adult without children in Oregon needs to make $50,553 a year. This covers the basic cost of living, including housing, transportation, food, and medical care. For two working adults with two kids, the required income needed (before taxes) is $93,735.
Photo credit: iStock/StockRocket
SoFi Relay offers users the ability to connect both SoFi accounts and external accounts using Plaid, Inc.’s service. When you use the service to connect an account, you authorize SoFi to obtain account information from any external accounts as set forth in SoFi’s Terms of Use. Based on your consent SoFi will also automatically provide some financial data received from the credit bureau for your visibility, without the need of you connecting additional accounts. SoFi assumes no responsibility for the timeliness, accuracy, deletion, non-delivery or failure to store any user data, loss of user data, communications, or personalization settings. You shall confirm the accuracy of Plaid data through sources independent of SoFi. The credit score is a VantageScore® based on TransUnion® (the “Processing Agent”) data.
*Terms and conditions apply. This offer is only available to new SoFi users without existing SoFi accounts. It is non-transferable. One offer per person. To receive the rewards points offer, you must successfully complete setting up Credit Score Monitoring. Rewards points may only be redeemed towards active SoFi accounts, such as your SoFi Checking or Savings account, subject to program terms that may be found here: SoFi Member Rewards Terms and Conditions. SoFi reserves the right to modify or discontinue this offer at any time without notice.
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.
Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.
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.
Airlines, including Delta Air Lines, use dynamic pricing for ticket sales. As a result, the cost of flights between the same cities can vary greatly. This variability is influenced not only by the class of service, but also by the specific type of ticket, known as the fare class.
Delta’s cabin classes range from basic economy to Delta One (first class on international and long-haul domestic flights). Then, these cabin classes are divided into ticket or fare classes, which can also affect the price of the ticket.
Let’s examine the Delta cabin classes and class codes to understand what is included in each ticket type and why you should care.
What are fare classes, and why do they matter?
Fare classes (sometimes called “buckets”) are different ticket types within the same cabin class.
For example, Delta One may have multiple fare classes, such as fully refundable, changeable for a fee and nonrefundable. Each fare class is given a letter, which is used internally by airline staff to understand details about the ticket purchased by the passenger.
Passengers should pay attention to these letters because they can affect the restrictions on their ticket, how many miles they will earn and their ability to upgrade to a higher cabin or use a Delta Companion Certificate.
When it comes to travel day amenities and benefits, cabin class matters more than your fare bucket. The fare bucket comes into play when dealing with ticket change restrictions or potential upgrades, as well as the hierarchy for complimentary upgrades.
Delta fare class overview
These are the Delta fare classes the airline most often uses:
First class/Delta One
Premium Select
Economy/Comfort+
Discounted Main Cabin – U, T.
Deeply Discounted Main Cabin – X, V.
Basic economy
Depending upon the aircraft and destination, not every plane or flight will offer each of these cabins or ticket classes. For example, an international wide-body flight will have Delta One, while a regional jet-operated domestic flight won’t.
🤓Nerdy Tip
Award tickets booked with Delta SkyMiles use a different fare bucket system.
How do I find the Delta fare class?
Delta.com makes the fare bucket information easy to find when searching for airfare. It is the letter in parentheses above the fare.
To learn more about what the fare bucket will include, click on the letter within the parentheses. It will provide details on the seat and any restrictions that go along with it.
SkyMiles earnings by fare class
When traveling on a Delta flight, Delta SkyMiles members earn miles at different ratios. The higher your tier in the Medallion elite status program, the more miles you’ll earn per dollar spent.
Members earn miles based upon the cost of the ticket at these ratios:
Note that basic economy tickets don’t earn miles.
How it works with Delta partners
When traveling on Delta airline partners, it is important to understand how many miles you’ll earn because this will vary based on the fare bucket.
Each fare bucket category earns different amounts of miles. For example, a full-fare business ticket in the J bucket would earn 200% of the miles equal to the distance flown, while discounted fare classes earn fewer miles and Medallion Qualification Dollars (key for earning Medallion status).
🤓Nerdy Tip
If you plan to credit a Delta flight to another frequent flyer program, you will want to compare the earning for the fare bucket in that program with Delta’s. They aren’t always the same. The website WhereToCredit.com can be especially helpful.
What are the benefits of Delta’s classes of service?
Delta One and Delta One Suites
This is Delta’s most premium cabin and is used primarily on international flights as well as select premium long-haul domestic routes.
Delta One has a variety of seating, with the most appealing being the Delta One Suites with doors that close for privacy. Most Delta One cabins are in a 1-2-1 configuration, with those at the windows offering extra solitude.
🤓Nerdy Tip
The Boeing 757s have a 2-2 configuration. Delta.com’s aircraft overview page makes clear the layout for each flight.
Delta One passengers receive multicourse meals, an open bar, amenity kits stocked with Grown Alchemist toiletries, noise-reducing headphones and more dedicated service. On certain flights, mattress pads make the seat more comfortable, but all passengers enjoy a large pillow and duvet.
Delta Premium Select
This is Delta’s premium economy cabin, which is mostly found on international flights and wide-body aircraft. It includes a larger seat with more recline. These seats are similar to what you might find in domestic first class. They recline more than seats in economy class but don’t lie flat. A footrest and spacious armrests with a small table add to the comfort.
Food and beverages include plated meals with a more impressive presentation than economy class and an open bar. A day blanket, a small amenity kit with Grown Alchemist products, noise-reducing headphones and a memory foam pillow await at each seat. Sky Priority access and the option to check two bags up to 50 pounds each round out the experience.
Medallion members don’t receive free upgrades to this cabin unless they use an upgrade instrument like a Global Upgrade on longer flights.
Delta first class
This is Delta’s premium cabin on most domestic and regional international flights. The cabins are in a 2-2 layout or 1-2 layout on regional jets. These seats are more spacious than those in economy with a side table to place a drink and larger seat pockets.
On some newer aircraft, Delta has installed seats with small privacy “wings” that act as side headrests, too. One complaint of these seats, however, is that they aren’t as padded as other Delta first class seats.
The standard level of service in first class is a welcome bottle of water at the seat, pre-departure beverages, complimentary drinks from the bar and, based on flight length and time of day, a meal. When flights don’t have a meal, a snack basket is passed around. Passengers receive Sky Priority access and the ability to check two bags per person up to 70 pounds.
Most domestic and regional first class flights are eligible for complimentary upgrades for Medallion members, which is a great perk although availability can be limited.
Delta Comfort+
These seats are integrated into the main cabin but have additional legroom and expedited boarding. They also receive a few extra food and beverage perks like complimentary alcoholic drinks and more snack selections.
There are no additional checked bag perks for this fare class, but those with a Delta co-branded American Express card get these benefits without an upcharge.
Passengers must pay a fee to upgrade to one of these seats, but Medallion members receive free upgrades to them.
Main cabin
The economy class section with standard airplane seats is the main cabin. On domestic Delta flights, nonalcoholic beverages and a snack are complimentary, but on long-haul international flights, a hot meal is served with complimentary drinks from the bar.
On long-haul international flights, a blanket is available. Passengers must pay to check a bag unless they have a Delta credit card or Medallion status.
Basic economy
This is the most restrictive Delta fare class and doesn’t include a seat assignment. These passengers are the last to board, which means finding space for carry-on bags can be a challenge (often, travelers must gate-check their bags).
Changes aren’t permitted to these tickets, and passengers won’t earn miles for their flight. Medallion members won’t be eligible for seat upgrades and cannot access the Sky Club.
Once the flight takes off, there are no additional restrictions with basic economy passengers afforded the same benefits as the rest of the main cabin, including free nonalcoholic drinks and snacks (a hot meal, alcoholic beverages and blanket on longer sectors).
What if I want to change my booking class?
After you purchase your ticket, Delta may send you offers via email, on the website or through the Delta app to upgrade your ticket using miles or paying in cash. Medallion members will also be added to the upgrade list for a higher cabin on eligible flights.
For long-haul flights, the only way to get an upgrade without paying miles or cash is to use an upgrade certificate.
These are an option for Platinum and Diamond Medallion members, but competition for upgrade seats (like with complimentary upgrades) can be fierce. For that reason, some travelers choose to pay the difference upfront to guarantee a better cabin.
Delta doesn’t charge a fee to change your ticket, but if you choose to upgrade or downgrade, any difference in fare would be charged (or credited).
Book smarter: Delta credit cards
Secure the best earning rates and benefits for your Delta flight needs by purchasing your tickets with the right credit card.
Here are a handful of Delta card options — or you can read a NerdWallet analysis on which are the best.
Top Delta cards
Delta SkyMiles® Blue American Express Card
Delta SkyMiles® Gold American Express Card
Delta SkyMiles® Platinum American Express Card
Delta SkyMiles® Reserve American Express Card
Annual fee
$0 intro for the first year, then $150.
Welcome offer
Earn 10,000 bonus miles after you spend $1,000 in purchases on your new Card in your first 6 months. Terms Apply.
Earn 40,000 Bonus Miles after you spend $2,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Terms Apply.
Earn 50,000 Bonus Miles after you spend $3,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Terms Apply.
Earn 60,000 Bonus Miles after you spend $5,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Terms Apply.
Learn more
If you seek more flexibility in redeeming miles for award flights, consider applying for a general travel credit card instead. A general travel credit card differs from an airline card in that you can book flights with multiple carriers, rather than reaping the benefits of staying loyal to a single brand.
The more high-end (or “premium”) the travel credit card, the more benefits you can enjoy, including airport lounge access or elite status in certain programs. That said, a brand-specific airline card can net you benefits like waived baggage fees, which can have a meaningful dollar value.
Delta fare classes recapped
Delta has several different cabins and levels of service, as well as fare classes that correspond to each one.
Understanding Delta fare classes can be a helpful way to make sure you have the flexibility and experience you want for a trip, including helping you earn more SkyMiles.
(Top photo courtesy of Delta Air Lines)
To view rates and fees of the Delta SkyMiles® Blue American Express Card, see this page.
To view rates and fees of the Delta SkyMiles® Gold American Express Card, see this page.
To view rates and fees of the Delta SkyMiles® Platinum American Express Card, see this page.
To view rates and fees of the Delta SkyMiles® Reserve American Express Card, see this page.
Looking for ways to make money by driving? There are many opportunities to make money just by driving your car. Whether you prefer delivering packages, giving rides, or even doing tasks for others, there are many gig apps and services that can help you get started. A lot of people are earning good money just…
Looking for ways to make money by driving?
There are many opportunities to make money just by driving your car. Whether you prefer delivering packages, giving rides, or even doing tasks for others, there are many gig apps and services that can help you get started.
A lot of people are earning good money just by using their own cars for different jobs. You can pick your hours and choose the kind of work you like, so driving can be a great way to earn extra income without messing up your daily schedule.
Best Ways To Make Money Driving
Below are the best ways to make money driving.
1. HopSkipDrive
HopSkipDrive is a great way to make money if you like driving and working with kids. HopSkipDrive provides safe and reliable rides for schools and families. They help schools meet their needs for school transportation as well as help with school bus driver shortages. This app is designed for students who cannot use regular bus routes or need extra help with transportation.
The company pays much more than other ride-sharing services.
You can earn around $50 per hour as a CareDriver. This is higher compared to Uber or Lyft. HopSkipDrive sometimes has special promotions where new drivers can earn $500 for 10 trips in their first 14 days, completing a certain number of rides before 8 a.m. and so on.
Becoming a driver has many steps, but it’s for good reasons. You’ll need to complete online orientation, background checks, and a vehicle inspection. This process makes sure drivers are safe and reliable for the children that they are driving.
The company has flexible hours. You can choose when you want to work. This makes it easy to fit into your schedule.
HopSkipDrive is currently available in many states such as Colorado, California, Washington, and Texas.
2. Deliver groceries with Instacart
Delivering groceries with Instacart is a great way to make money driving. You can work as a full-service shopper or an in-store shopper. Full-service shoppers both shop and deliver the groceries. In-store shoppers stay inside the store and prepare orders for pick-up.
To start, you must be at least 18 years old. You’ll need a smartphone to use the Instacart app. You’ll also need a car to deliver groceries if you choose the full-service option.
When you sign up, Instacart will send you a payment card. You’ll use this card at the store to pay for groceries. This card arrives about 5 to 7 days after you complete the sign-up.
Flexibility is a huge perk because you can choose when and how much you want to work. This makes it easy to fit around your schedule. You could work a few hours on weekends or even fill gaps between your main job hours.
Being an Instacart shopper means that attention to detail is important. Customers count on you to pick the best items, like fresh produce and correctly labeled products. Good service can lead to better tips and higher ratings. It’s not as easy as just throwing items in a cart and buying them – I have had careless shoppers in the past, and when that happens, it’s just a waste of my time because I still have to go to the grocery store to fix their mistakes.
You can learn more at Instacart Shopper Review: How much do Instacart Shoppers earn?
Another popular option for grocery deliveries is Shipt. I have not used this before, but it is owned by Target and many people like it.
3. Deliver with DoorDash
Delivering with DoorDash is a popular way to make extra money driving. As a Dasher, you can work whenever you want. There are no set hours, so you can fit it around your schedule.
You can use any car or even a bike (in certain cities). This gives you a lot of flexibility. Plus, it’s easy to sign up and start delivering quickly.
Dashers earn money through base pay, tips, and extra incentives. The base pay is what you earn for each delivery. You also keep 100% of your tips, which can add up.
Many Dashers earn around $15 to $20 per hour. This can vary depending on where you live and how busy it is.
Delivering food to customers is simple. You just have to pick up the order from a restaurant and drop it off at the customer’s address. DoorDash provides you with all the instructions and directions you need.
If you enjoy driving and want to make some extra cash, DoorDash is a great option. It’s simple, flexible, and you can start earning quickly.
Please click here to sign up for DoorDash.
Note: There are many other food delivery apps such as Grubhub, Uber Eats, and Gopuff (mainly snack delivery) that you can also do food delivery service with too.
4. Ridesharing
Ridesharing can be a great way to make extra money. Apps like Uber and Lyft let you use your car to give people rides.
The best part is that rideshare drivers can work whenever they want. This flexibility means you can drive in your spare time or make it a full-time job.
To get started with rideshare apps, you need to sign up and create an account. You’ll need to provide some information and upload documents like your driver’s license and insurance.
One way to earn more is by driving during peak hours. These are times when people need more rides, so prices go up. Friday and Saturday nights are some of the busiest times.
Another way to earn more is by driving in busy areas or near popular events because this can help you get more rides in less time.
5. Work for Amazon Flex
Amazon Flex is a great way to make money by delivering packages. Amazon Flex drivers can earn between $18 and $25 an hour, and this depends on where you live and demand.
You use your own vehicle to deliver packages (you need a 4-door, midsize sedan or a larger vehicle, such as an SUV). This means you will need a reliable car and a smartphone to use the Amazon Flex app.
You pick your own schedule with Amazon Flex so this makes it perfect for busy people. You can reserve blocks of time in advance or choose them each day.
To work for Amazon Flex, you need to be 21 or older. You also need a valid driver’s license and insurance.
6. Deliver RVs
Delivering RVs can be a fun way to make money while seeing the country. You get to travel to different places, driving different types of RVs from one location to another.
To start, look for companies that specialize in RV transportation. These companies need drivers to move their RVs around. You can also check with RV dealerships because they sometimes post job listings for delivery drivers.
Many companies require you to have a Commercial Driver’s License (CDL). This is important because many RVs are large and need skilled drivers. Check your state’s requirements and whoever you would be working for to see what you need.
After you’re hired, you will be transporting RVs to different places. This might include taking new RVs to buyers or moving rental RVs to different locations. Make sure you know how to handle the RV you’re driving, whether it’s a small campervan or a large motorhome.
Delivering RVs gives you the chance to make money while traveling. You’ll get to see new places and have some fun experiences along the way.
We have met and seen many people transporting RVs over the years (we RVed full-time for many years, and now we RV part-time!), and it has always seemed like a nice gig. In fact, someone drove our newest RV to deliver it to the dealership that we bought it from!
Recommended reading: 11 Ways To Get Paid To Drive A Car Across The Country
7. Work as a medical courier
Becoming a medical courier is a great way to make money while helping people. Medical couriers deliver important items like medication, medical supplies, and lab samples.
Many places hire medical couriers. These include:
Hospitals have couriers to move medical samples, documents, and medications between buildings.
Pharmacies hire couriers to deliver prescriptions to patients who can’t come in.
Labs need couriers to pick up and drop off medical samples for testing.
Home healthcare agencies use couriers to bring medical supplies and medications to patients at home.
Medical supply companies need couriers to deliver equipment and supplies to healthcare places and patients.
8. Drive for a rental car company
Driving for a rental car company is a great way to make money driving. Companies need help moving their cars from one location to another.
Sometimes, rental companies need cars moved across the country. For example, they might need more cars in Florida during the winter.
You can also help by delivering cars to repair shops. After repairs, you can drive them back to the rental office.
9. Advertise with Wrapify
You can make extra money by advertising on your car with Wrapify.
It’s simple and easy! First, you sign up on the Wrapify app. After passing a background check, you’re ready to start earning.
With Wrapify, you drive your usual routes and the app tracks your mileage. The more you drive, the more you can earn.
Full car wraps pay the most, up to $452 a month. Partial wraps pay less, about $196 to $280 each month. It’s passive income for just driving your car.
There are many other car advertisements platforms, such as Carvertise, Nickelytics, StickerRide, and Stickr.
Recommended reading: 6 Best Ways To Get Paid to Advertise On Your Car
10. Truck driver
Driving a truck across the U.S. is a way to make money while driving. The demand for safe truck drivers keeps growing.
To get started, you need a Commercial Driver’s License (CDL). It’s required for all truck driving jobs. You can apply to trucking companies to work as a company driver.
Starting salaries for truck drivers range from $30,000 to $45,000 per year. Experienced drivers can make up to $80,000 or more annually.
Owning your own truck can increase your earnings even more. Owner-operators tend to make higher rates since they take jobs as needed.
11. Rent out your car
You can make money by renting out your car when you’re not using it. Many car-sharing platforms make it easy to get started. Some popular options include Turo and Getaround, which help you earn extra cash by renting your car to people in your area.
You just need to list your car, set your price, and wait for renters. It’s a simple way to turn your car into an income source.
You do want to remember to check your insurance and make sure it covers rentals. You want to be protected in case anything happens while someone else is driving your car.
12. Help people move
Moving can be very stressful for many people, and they tend to need help to move boxes and furniture. This is where you come in.
If you have a pickup truck or cargo van and some muscle, you can sell moving services. People are willing to pay for the convenience of having someone else do the heavy lifting.
I know for me, I hate moving, so I much prefer to pay someone to help me with this.
13. Deliver with Roadie
Roadie is a great platform to make money with your car, and it is owned by UPS. The company partners with businesses for same-day and local next-day deliveries, using regular passenger vehicles. You can deliver a wide variety of items, from luggage to lawn mowers and more.
Roadie gives you the flexibility to choose deliveries that fit your schedule. You can decide when and how often you want to work. The app is easy to use, and you can see real-time tracking for your deliveries. This helps you manage your time effectively and plan your route.
Some deliveries pay more if the items are larger or heavier. You can earn an average of $12 per trip on local deliveries, and more on multi-stop trips. Plus, this is one of the best driving apps to make money on the same day.
14. Taxi driver
Becoming a taxi driver can be a good way to make money driving. You’ll need a clean driving record and a reliable car. In most places, you’ll also need a special license. This usually means passing an exam and possibly a background check.
Working for a taxi company means they might provide the car. You’ll just drive and get paid. If you drive your own car, you keep more of the money but pay for gas and maintenance.
Some drivers make even more by working during busy times. Think weekends, holidays, and big local events. The faster you get passengers to where they need to go, the more passengers you can pick up.
Frequently Asked Questions
There are many ways to make money driving, from delivering food to ridesharing. Here are answers to common questions about how to make money driving.
Can you make money driving?
Yes, you can make money driving by delivering groceries with Instacart, driving for apps like HopSkipDrive, or delivering with DoorDash. You can also choose ridesharing or working for services like Amazon Flex.
What app pays you to drive?
Several apps pay you to drive such as Uber and Uber Eats, which let you drive passengers or deliver food. The Roadie app lets you deliver items on your chosen routes. There are many more apps that pay you to drive, such as Instacart and Turo too.
How to make a living as a driver?
To make a living as a driver, consistency is key. You can combine multiple apps like Uber, DoorDash, and Amazon Flex. Each app has different opportunities and peak hours. Working during busy times can increase your earnings.
How can I make money on the road?
There are many ways to make a living on the road, such as by delivering RVs to RV dealerships, wrapping your car with an advertisement, or even becoming a truck driver.
How can you make extra money by driving your car across the country?
Driving your car across the country can also make you money. Services like Roadie let you deliver long-distance items. You can also start a moving company and help people relocate. Each trip can be a paid gig, making it a good way to earn while traveling.
How To Make Money Driving – Summary
I hope you enjoyed this article on how to make money driving.
There are many ways to make money while driving such as with apps to make money with your car like HopSkipDrive, Instacart, DoorDash, Uber, Lyft, Amazon Flex, and Roadie.
There are also ways to make money driving that don’t involve an app, such as delivering RVs to dealerships, working as a medical courier, driving for a rental car company, placing an advertisement on your car, becoming a truck driver, helping people move, and becoming a taxi driver.
Whether you’re looking for driving side hustles in the gig economy or if you are looking for a full-time career, there are many ways to make money driving.
Pleasant PPI Paradox Leaves This Week’s Big Victory in Focus
By:
Matthew Graham
Fri, Jul 12 2024, 4:44 PM
Pleasant PPI Paradox Leaves This Week’s Big Victory in Focus
The Producer Price Index (PPI) introduced a brief but disconcerting threat to this week’s relative level of triumph (courtesy of yesterday’s CPI) by suggesting a big, unexpected surge in core inflation at the wholesale level. Bonds initially panicked, but quickly got back on track and never looked back. Thankfully, the components behind the PPI surge are not the same components that would translate to PCE inflation in 2 weeks. We can also consider PPI’s notorious volatility and conclude it would take more than one of these surprises to raise a serious eyebrow. With that, the focus of the week remained squarely on yesterday’s big CPI victory.
Core PPI M/M
0.4 vs 0.2 f’cast
last month revised to 0.3 from 0.0
Core Annual PPI
3.0 vs 2.5 f’cast, 2.3 prev
Consumer Sentiment
66.0 vs 68.5 f’cast, 68.2 prev
Consumer inflation expectations
1yr down 0.1
5yr down 0.1
08:43 AM
Slightly stronger overnight but giving back gains after PPI. MBS unchanged. 10yr up 0.3bps at 4.216.
10:31 AM
healing continues. MBS up an eighth. 10yr down 1.6bps at 4.197
01:07 PM
Flat and sideways at the same levels as the last update.
04:43 PM
Bonds heading out at or near best levels with MBS up nearly 3/4ths and 10yr down 2.6bps at 4.187.
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