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Apache is functioning normally

December 8, 2023 by Brett Tams

Inside: Balancing a shoestring budget is possible and provides great rewards. With savings and budget strategies, you will find genius tips to manage your finances smartly!

With the rise of economic inflation, a growing number of people are finding the need for shoestring budgets to effectively navigate through their expenses.

Whether it’s planning for a low-cost holiday, initiating a frugal home makeover, or launching a start-up business with minimalist funds, the concept of a shoestring budget comes into play.

Moreover, it’s not only limited to low-income families but also extends to larger households and entrepreneurs that need to strategically lessen costs to achieve their goals. This is how many people reach financial independence sooner.

Then, let’s talk about a shoestring budget – an effective tool used to stretch finite resources, manage money wisely, and achieve financial goals, all while minimizing expenses.

If you’re familiar with the feeling of every dollar in your wallet counting, then this blog post is for you.

This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.

What is a Shoestring Budget?

A ‘shoestring budget’ means to accomplish a task or a project within a very limited or bare minimum budget. The shoestring budget work strategy involves curbing discretionary spending dramatically to take care of high-priority expenses.

Understood across various contexts like travel, events, and lifestyle, the term implies an approach of resourcefulness and discovery of low-cost alternatives to achieve desired results.

Not exclusive to households with low incomes, working with a shoestring budget expresses the art of making what’s deemed impossible possible, navigating time constraints, and maximizing minimal available funds.

Shoestring Budget Idiom Definition

According to Merriam-Webster, the official definition of a shoestring budget is: ¹

“involving a relatively small amount of money for planned spending.”

‘Shoestring Budget’ Origin

The phrase ‘shoestring budget’ has an intriguing origin story that dates back to the 1800s in the United States. Fact-checks reveal that this term is indeed a reference to the precarious nature of a thin and weak shoestring, metaphorically implying a scarce and strained budget.²

Several theories have been proposed regarding its original use.

One theory suggests that the term ‘shoestring gambler,’ meaning someone gambling with a limited budget, might be the precursor to the idiom.
Another theory, based on British history, suggests that prisoners would lower a shoestring out of their cell to collect small donations from passersby, symbolizing the idea of managing with few resources.

Despite the debates around the phrase’s exact origins, it is undisputed that it signifies a tight budget situation.

How to live on a shoestring budget?

Living on a shoestring budget can be challenging but doable with a bit of dedication and planning.

Start by reviewing your regular expenses per month.
Cut down on unnecessary expenses as much as possible.
Monitor your small, daily expenses as they can add up significantly over time.
Refinance any existing debt to reduce interest payments.
Renegotiate contracts with utility providers, subscription services (consider uninstalling unused ones), or insurance for better rates.
Shop at thrift stores or choosing used items over brand new can also help you save.

The key to surviving a shoestring budget is self-control and determination to avoid impulsive spending.

Your goal is to prioritize essential needs over wants – a no spend challenge will help you with this. Remember, regular tracking and analysis of your personal site usage can provide valuable insights to manage your budget better.

How to travel on a shoestring budget?

Embarking on an adventure while on a shoestring budget requires creativity and pre-planning.

Be flexible with your travel dates, destinations, and mode of transport to take advantage of the best deals available.
Consider options such as budget airlines, off-peak travel times, and less touristy locations.
Staying in budget accommodations, or even trying out housesitting, can significantly cut down your lodging costs.
Eating at local fresh markets rather than restaurants will not only save you money but also provide a more authentic experience.
Plan your daily activities; consider free local events, parks, and attractions.
Always carry a water bottle to avoid buying expensive drinks.

With careful planning, traveling on a shoestring budget can make your journey all the more rewarding and memorable.

How to Save Money on a shoestring budget?

Saving money while on a shoestring budget might appear challenging, but it’s not impossible. Begin by monitoring your expenditures and identifying areas where you can potentially save money. Also, consider substituting costly activities with more affordable or free ones.

Every small action counts when you’re on a shoestring budget, and these savings accumulate over time. Remember, consistent small savings can make a significant difference in the long run.

Starting a business on a shoestring budget

Starting a business on a shoestring budget requires careful financial planning and innovative thinking. Indeed, it may sound challenging, but numerous shoestring startups have surged to success by optimizing their business budgets. It is all about crafting a solid business plan that clearly delineates your budget and the efficient utilization of each dollar.

Maintain focus on essential expenses only. These expenses might include mandatory licenses, essential software for business operations, or even crucial industry-specific tools. Leverage your personal and professional networks for free advice and resources.

Also, make the most of free or low-cost online marketing strategies as these can be vital to shoestring business budgets. You can use effective strategies, like using different social media platforms for marketing or creating a blog, to broaden the reach of your business.

Remember, having the capital to start is important but it’s secondary to a truly novel idea, intense hard work, and a strategic approach. So, let your creativity thrive and work passionately towards growing your business.

Shoestring Budget Examples

Shoestring Vacation
Wedding or Honeymoon
Home Improvement
Business on a Shoestring Startups
Savings Goals
Financing your Next Car

A shoestring budget is not always related to bigger projects. It can also refer to the scenario where the money required for daily expenses, buying an item, or completing a project isn’t enough. Here, the person has to be creative and find ways to stretch the money to make ends meet.

Practical Tips for Surviving on a Shoestring Budget

In this section, we will present practical advice for managing a shoestring budget, derived from case studies of my readers and my own personal experience who have thrived despite financial limitations.

Whether you are budgeting on a low income or looking to reach FI number faster, this guide has you covered.

1. Starting with a Budget: Your First Step

Before you embark on your journey of living on a shoestring budget, the first step is to define a realistic budget.

Understand your total earnings and list all your monthly expenses.
Identify which expenses are necessary (rent, utilities, groceries) and which are discretionary (eating out, entertainment).
Now create a spending plan such that it covers all necessities, allocates some amount towards savings, and leaves a little for leisure.

A well-defined budget will be your roadmap to financial management success.

Remember, the goal is to live within your means but also to ensure you aren’t depriving yourself.

2. Make Saving Automatic

A proven way to save money on a shoestring budget is to make saving automatic.

In such a method, you can set up an automatic transfer when you get paid. Another idea is to use Acorns, which rounds up purchases made with your debit card to the nearest dollar and deposits the change daily into your savings account.

Essentially, you’re saving without even noticing it! These little amounts add up over a period and can really bolster your savings.

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3. Cut Back on Expenses

One of the most effective ways to operate within a shoestring budget is by reducing expenses. These can be small lifestyle changes, like cutting back on takeaways and preparing meals at home, walking or cycling instead of driving short distances or canceling unused subscriptions.

Specifically, you are looking to cut back your flexible expenses the most.

4. Look for Ways to Make Extra Money

Alongside cutting back on expenses, we continually stress the importance of finding ways to supplement your income. This could be from a side hustle, passive income, part-time job, or even a pay raise.

This additional income can help ease pressure on your shoestring budget. Also, it might provide an opportunity to explore new interests or passions. By diversifying your income streams, you make your financial situation more secure and flexible in unexpected circumstances.

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5. Utilize Free Resources

When it comes to saving money on a shoestring budget, the key is to utilize free resources and focus on essentials before spending money.

Thankfully, there are many vital ways to do this:

Find free things to do without spending money.
Use your local Buy Nothing group to find items before spending your hard-earned cash.
Learn and enhance your skills through free or low-cost online platforms like Udemy, Coursera, and YouTube.

Leveraging such resources can have a significant impact on your budget, leading to substantial savings for other meaningful expenses.

6. Look for Deals and Coupons

Another wise strategy when operating on a shoestring budget is seeking out deals and using coupons whenever possible. This game-changing approach can be applied to your grocery budget, dining, clothing purchases, and even travel.

Search for coupons in newspapers, magazines, or on coupon websites. Perhaps, subscribe to newsletters from your favorite retailers, a move that will provide straightforward access to information about sales and discount codes. Be mindful while shopping online or in stores, and always remember to rein in impulses, checking for any available discounts before purchasing.

Moreover, take advantage of holiday sales or Amazon Prime Day for larger purchases. Taking a little extra time to hunt for the best deals can significantly cut down your expenses and help you stick to your shoestring budget.

7. Utilize Household Resources

Leveraging what you already have in your household is another fantastic way to save money.

For instance, before running to the grocery store, take stock of what’s in your pantry and design meals around these items.
Also, consider repurposing and upcycling household items. An old ladder can turn into a chic bookshelf; jars can be used for storage.
Optimizing utility usage by switching off lights when not in use and limiting water usage can also reduce bills.

Start treating everything in your house as a resource with a specific purpose and value, including leftover food, old clothes, and used furniture. Every household item utilized efficiently can add up to visible savings over time.

8. Get Rid of Unnecessary Expenses

Perhaps the most crucial aspect of managing a shoestring budget is identifying and eliminating unnecessary expenses. These could include subscriptions to magazines or online services that you hardly use, dining out frequently, or buying expensive coffee daily.

Analyze where your money is going every month. You’d be surprised how the smallest changes can have a big impact on your budget. Eliminating even a few unnecessary monthly expenses can add up to substantial yearly savings.

Remember, the key is not to deprive yourself of everything but to find that balance between living comfortably and within your means.

9. Reduce Your Monthly Rent or Mortgage Payment

Want to slash a significant expense of your shoestring budget by considering ways to reduce your rent or mortgage payments? Could you move to a more affordable area or a smaller property?

For homeowners, look at refinancing your mortgage or negotiate better terms, resulting in lower monthly payments. Always remember to check if any fees would apply before proceeding with refinancing.
If relocation isn’t an option, consider renting out a spare room in your home or offering it on a vacation rental site.
If you are a renter, look at becoming a permanent housesitter.

Lowering these substantial expenses can make a huge difference in your budget, allowing you to allocate funds to other pressing areas, save, or even invest in building wealth.

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10. Be Creative When Paying Bills

When managing a shoestring budget, it can be helpful to get creative with the way you pay your bills. Sometimes, splitting payments between paychecks or paying on certain days can make managing your budget easier.

You could also consider bill negotiation services or check if you qualify for reduced rates based on your income. If meeting all payments becomes too strenuous, communicate with your service providers about it. They may have hardship programs or payment plans to assist during tough financial periods.

Remember, the key is to avoid late fees or penalties that could further strain your budget.

11. Leverage Technology to Save Time and Money

Make the most of technology to manage your shoestring budget. There are numerous mobile apps and online resources to help you track your expenditures, save money, pay bills, and even invest.

Budgeting apps can help you keep track of your income and expenditure, warn you when you’re nearing your limit, and provide valuable insight into your spending habits. Digital wallets can help you make secure transactions without the fear of losing cash.

Moreover, there are apps and websites to compare prices of different products, get the best deal alerts, apply instant coupons, or even earn cashback like Rakuten.

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Little complex to use at first, the learning curve is moderate.
Yearly subscription-based model to use the platform.

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12. Participate in a Mini Savings Challenge

As a fun and effective way to boost your savings, consider embarking on a mini savings challenge! These challenges break the intimidating concept of saving into manageable, small steps. They can vary based on duration and the amount you’re aiming to save.

For example, in a 52-week challenge, you save $1 in the first week, $2 in the second, and so on, until you’re saving $52 in the 52nd week. By the end of the year, you’ll have saved $1,378!

Not only does it make saving fun, but it also allows you to develop a consistent saving habit, crucial when budgeting on a shoestring.

Frequently Asked Questions (FAQ)

If you’re fortunate enough to have a budget that’s more than a shoestring, the principles discussed still apply. Having more resources doesn’t mean you should ignore opportunities to save and invest wisely.

So, whether your budget is minimal or ample, consider adopting these healthy financial habits to achieve your financial goals. Make sure to sock away any extra money into a savings or investment account so you aren’t tempted to spend it.

Starting to invest on a small budget involves several key strategies. You must pay yourself first each and every time you are paid.

Set up an auto savings plan through a high interest savings account to make sure you start earning interest.
Contribute enough to your 401(k) to take full advantage of your employer’s match, if available, and consider mutual funds with an initial investment as low as $500.
Pick one solid company wherein you believe data and financials are stable enough to invest in, and buy 1 share.

If you receive a work or tax refund bonus, allocate it towards your investments instead of immediate spending.

Key Takeaways: Managing Money Well on a Tight Budget

Managing finances on a shoestring budget can be a daunting task, but with the right strategies in place, it can become a way to achieve financial health.

This is something I did when I was a stay-at-home mom looking for ways to make money.

In the grand scheme of things, managing a shoestring budget is less about the money and more about your mindset. Yes, limited resources can present challenges, but your attitude and creativity can make a difference.

Embracing frugality, taking control of your financial choices, and building resourceful strategies can turn your constraints into opportunities.

Money comes and goes, but the ability to manage it effectively is a life skill that will always be beneficial. The real wealth lies in your ability to live within your means and make the most of what you have – turning your shoestring budget into a stepping stone towards financial independence and stability.

Remember, every journey starts small.

Day by day, these tips can help you improve your financial stability and achieve your goals, regardless of your budget size.

Source

Merriam-Webster. “on a small/tight/shoestring budget.” https://www.merriam-webster.com/dictionary/on%20a%20small%2Ftight%2Fshoestring%20budget. Accessed December 5, 2023.
Grammarist. “Shoestring Budget – A Creative Expression for Limited Money.” https://grammarist.com/idiom/on-a-shoestring-and-shoestring-budget/. Accessed December 5, 2023.

Did the post resonate with you?

More importantly, did I answer the questions you have about this topic? Let me know in the comments if I can help in some other way!

Your comments are not just welcomed; they’re an integral part of our community. Let’s continue the conversation and explore how these ideas align with your journey towards Money Bliss.

Source: moneybliss.org

Apache is functioning normally

December 6, 2023 by Brett Tams

When the Canada-based BMO bank acquired Bank of the West, headquartered in the U.S., in 2021, American consumers gained access to BMO’s credit card portfolio, which includes personal and business cards.

As of this writing, BMO offers two cash-back cards, a travel card, a 0% APR/balance transfer card and a secured card. However, a BMO representative confirmed that the card offerings and current card benefits may change in early 2024.

Here’s what you need to know about these cards before deciding whether to apply for one.

🤓Nerdy Tip

While BMO offers business credit cards, this article covers only its personal credit card offerings.

For a break on interest: BMO Platinum Credit Card

If you need an extra-long reprieve from interest, your best option among the BMO cards is the Platinum Credit Card. For a $0 annual fee, cardholders get 0% APR on purchases and balance transfers for 15 months (as of this writing). There are two important caveats to these offers, though: You may lose the 0% APR benefit if you make a late payment, and the balance transfer must be completed within 90 days of account opening in order to get the 0% APR offer.

The balance transfer fee for all of BMO’s personal credit cards is $10 or 4% of the amount of the balance transfer, whichever amount is greater. BMO only allows balance transfers of credit card debt. And as is standard with most issuers, it doesn’t permit transfers between BMO accounts.

As balance transfer offers go, this is a decent one, but it’s possible to find credit cards with longer interest-free promotions. The Wells Fargo Reflect® Card, for instance, offers 0% intro APR for 21 months from account opening on purchases and qualifying balance transfers, and then the ongoing APR of 18.24%, 24.74%, or 29.99% Variable APR .

🤓Nerdy Tip

All of BMO’s publicly available personal credit cards offer cell phone protection plans. Cardholders are eligible for up to $400 in coverage except for Premium Rewards cardholders, who get up to $600 worth of coverage. To qualify for cell phone insurance, you must pay your cell phone bill with a qualifying BMO credit card. A $50 deductible is required for each claim.

For building credit: BMO Boost Secured Credit Card

BMO’s lone secured card requires a $25 annual fee and a minimum $300 security deposit. Those numbers are on the higher end compared with other secured cards. The Discover it® Secured Credit Card, for example, has a $0 annual fee and a $200 minimum security deposit — and it earns rewards, which the Boost Secured card does not.

However, the Boost Secured does offer two benefits rarely found in other cards for people with bad or limited credit: cell phone insurance and rental car insurance.

For travelers: BMO Premium Rewards Credit Card

The only travel card in BMO’s credit card portfolio, the Premium Rewards card, offers some solid perks for a $79 annual fee, which is waived the first year. Some highlights:

15% bonus points on your account anniversary (15% of total purchases made in the previous year).
A sign-up bonus of 35,000 bonus points when you spend $5,000 within 3 months of opening your account (as of this writing).
Access to over 850 airport VIP lounges worldwide with Priority Pass Select, plus two complimentary visits to participating lounges.
No foreign transaction fees.
Lost or damaged luggage insurance.

By comparison, the venerable Chase Sapphire Preferred® Card awards a 10% points bonus on each account anniversary and doesn’t come with lounge access, and its annual fee is slightly higher than the Premium Rewards card. However, unlike the BMO Premium Rewards card, the Chase Sapphire Preferred® Card features travel partners to which you can transfer your points, often for outsize value.

The Premium Rewards card also earns the following rewards in BMO’s proprietary currency, Flex Rewards:

3 Flex Rewards points per $1 spent on eligible dining, hotels and airfare (on up to $2,500 in combined spending each quarter), and 1x on all purchases after that.
1 Flex Rewards point per $1 spent on all other eligible purchases.

Flex Rewards points may be redeemed for flights, hotels, merchandise, gift cards and statement credits, among other options. Point values vary depending on the redemption; cardholders can check the redemption value at www.bmoflexrewards.com.

Flex Rewards points don’t expire, assuming your account remains in good standing with BMO.

For cash back: BMO Cash Back Credit Card and the BMO Platinum Rewards Credit Card

Two BMO cards would be good picks as cash-back cards. One earns direct cash back as a percentage of each purchase; the other earns BMO’s proprietary currency, Flex Rewards, which can be redeemed for cash back in the form of statement credit.

BMO Cash Back Credit Card

For straightforward cash-back rewards, the aptly named BMO Cash Back Credit Card is probably the better choice. It has the higher rewards rates, and the rewards categories represent a range of everyday spending. The $0-annual-fee Cash Back card earns:

5% cash back on eligible streaming, cable TV and satellite services.
3% cash back on eligible gas and grocery purchases, up to $2,500 in combined quarterly spending (1% after that).
1% cash back on all other eligible purchases.

The only redemption option is a statement credit. Rewards never expire as long as the account is open and in good standing.

As of this writing, the card also comes with the following sign-up bonus: Get a $200 cash-back bonus when you spend $2,000 within 3 months of opening your account.

BMO Platinum Rewards Credit Card

The Platinum Rewards card, like its Cash Back sibling, earns rewards on gas and groceries, but the rewards rates on the Platinum Rewards card are a hair lower. It earns:

2 Flex Rewards points per $1 spent on eligible gas and groceries, up to $2,500 in combined spending each calendar quarter (1x on all purchases after that).
1 Flex Rewards point per $1 spent on all other eligible purchases.

Redemption options for the Platinum Rewards card are the same as the Premium Rewards card because both cards earn Flex Rewards.

In favor of the Platinum Rewards card, its annual fee is also $0, and it has a good welcome offer: Get 25,000 bonus points when you spend $2,000 within 3 months of opening your account. It also gives cardholders a points bonus every account anniversary equal to 10% of the total points earned in the past year. The Cash Back card doesn’t award an annual bonus.

These are both decent options for cash back. But if you’d prefer a simple, high flat rate back on everything, without the need to keep track of bonus categories, you could consider a product like the Citi Double Cash® Card. It earns 2% cash back on every purchase: 1% back when you buy, 1% back when you pay it back.

The card has a $0 annual fee, and it also offers a 0% intro APR on Balance Transfers for 18 months, and then the ongoing APR of 19.24%-29.24% Variable APR.

Who doesn’t want to be rewarded?

Create a NerdWallet account for personalized recommendations, and find the card that rewards you the most for your spending.

Source: nerdwallet.com

Apache is functioning normally

December 6, 2023 by Brett Tams

What should you do with your 401k or 403b when you leave your job? This is a question that confronts more and more people. According to the Department of Labor young Baby Boomers held on average 11.3 jobs from age 18 to 46. So it was no surprise when I received the following email from a reader named Juan:

In this article, we’ll look first at your options. Then we’ll cover some factors to consider as you choose the best option for your circumstances. And finally, we’ll cover some of the mechanics of actually rolling over a 401k to another 401k or IRA. Note that this article applies equally to both 401k and 403b retirement accounts.

Listen to this Article:

Options for a 401k When You Leave a Job

The first thing is to understand are options. When you leave a job with a 401k or 403b you have potentially four options when it comes to your retirement plan:

Take the Money: While I include this as an option, it’s not one that will do your retirement planning any favors. Taking the money will trigger ordinary income tax. If you are not 59 1/2 or older (or otherwise able to take a qualified distribution), you may also get hit with a 10% additional tax. So while this is technically an option, I’m going to assume for the sake of this article that it’s not one you are considering.

Leave it Alone: Most 401k plans allow you to leave your money in the 401k at your old employer. You won’t be contributing to the account anymore, but you can continue to invest the money in the funds available in the plan. Note that this option may not be available for 401k accounts with balances of less than $1,000. For balances of less than $5,000, you may need to take steps to prevent your old employer from automatically distributing the funds to you.

Rollover to Current Employer’s 401k: If your new employer has a 401k or 403b and permits rollovers, you can rollover the money to the retirement plan at your new employer.

Rollover to an IRA: Finally, you can always rollover the 401k to an IRA.

Considerations in Making Your Choice

What should you consider in deciding which option is best for you? While there is no one right answer for everybody, there are some important factors to take into consideration. The very first factor is access to good investment options.

Investment Options

One of the big potential downsides of a 401k or 403b is that some of them have lousy investment options. For that reason, it’s important to consider the investing options at both your old employer and your new employer. Part of this evaluation should look at the expense ratios of the mutual funds in both plans. Also, keep in mind that you may not need every mutual fund choice in a plan to be a good option. As you build your asset allocation plan across multiple accounts, you may only need one or two good investment choices with your 401k.

If the investment options at the old employer are good and fit your asset allocation plan, leaving them there is a reasonable option. You don’t have to go through the hassle of moving the money. In fact, that’s exactly what I did with my first employer. I was there for 10 years. When I moved to another job, I left my money in the company’s retirement plan because I was happy with the investment choices.

Simplicity

The second thing to consider is simplicity. The fewer accounts you have, the easier it is to manage. That’s true when it comes to rebalancing a portfolio and keeping track of your investments. If you have good investment options at your new employer, rolling your account over from your old employer to your new employer minimizes the number of accounts you have. If you happen to have good investment choices at both your old and new employer, you’ll have to weigh the inconvenience of the rollover with the inconvenience of managing two accounts. In the long run, I favor the simplicity of consolidating accounts. Further, as we’ll cover in a moment, it’s not at all difficult to rollover a 401k.

Age 55 Rule

The third thing is the age 55 rule. This is one I think a lot of people tend to forget. If you leave your employer in or after the year you turn 55 you can begin to take withdrawals from your 401k without incurring the 10% penalty. What happens if you leave your employer at age 54? Can you wait a year until you turn 55 and then start taking money out without penalty? No. This exception only applies if you leave your employer in the year you turn 55 or later. Of course, you’ll have to pay ordinary income tax assuming it’s a traditional 401k or 403b.

So what does this have to do with a 401k rollover? The age 55 rule does not apply to IRAs. If you rollover a 401k to an IRA, you cannot take advantage of this rule. Therefore, you should consider this factor when deciding what’s best for your retirement account.

Rollover Tips

If you decide to rollover your 401k or 403b, you’ll want to use what’s called a direct rollover. A direct rollover is the movement of your investments from one plan directly to another plan. In other words, you don’t get access to the funds. A direct rollover is quick and convenient.

There is such a thing as an indirect rollover where you do touch the money. The money comes to you and you then have 60 days to roll it over into the IRA or 401k. There are several drawbacks to an indirect rollover. First, your old employer may withhold 20 percent of the rollover for taxes. While you’ll get that money back eventually, you’ve got to come up with that extra 20 percent now to roll over the whole amount into your new account. Further, if you fail to rollover the assets within 60 days, the IRS treats the assets as a distribution. The result can be a very big tax bill, including the 10% penalty.

Finally, the easiest way to begin the direct rollover process is to contact the new plan administrator where you want your money to go. They likely have an entire department dedicated to helping investors execute a 401k rollover. They will walk you through the paperwork and make sure everything is processed properly.

Where Should You Open an IRA?

If you’re going to open up an IRA, where do you open it? The key to answering this question is to decide first what types of investments you’ll purchase. For example, if you want to invest in funds at Fidelity, then it makes sense to open the IRA at Fidelity. That’s true if you want to invest in funds at any mutual fund company. If you have a certain fund company you prefer, open the IRA with the mutual fund company. Not only do you invest for free into their investment products, but you can always add a brokerage account to invest in stocks, bonds, or ETFs.

If you want to invest in a broad array of ETFs and stocks, then a low-cost brokerage makes the most sense. Brokers offer IRA accounts that enable you to rollover a 401k. TD Ameritrade is my personal favorite because trades are inexpensive and they have physical offices just about everywhere. I’ve also used OptionsXpress, which offers a $100 new account bonus. You may have a different broker you prefer, but if you’re going to trade a lot of ETFs and individual stocks, a low-cost brokerage is a good option for an IRA.

The fourth option, of course, is a robo-advisor. These tools take a lot of the work out of creating an asset allocation plan and rebalancing your portfolio in exchange for a fee.

Related: How to Build Your Own Benefits Plan If You Leave Your Job

Rob Berger is the founder of Dough Roller and the Dough Roller Money Podcast. A former securities law attorney and Forbes deputy editor, Rob is the author of the book Retire Before Mom and Dad. He educates independent investors on his YouTube channel and at RobBerger.com.

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Source: doughroller.net

Apache is functioning normally

December 5, 2023 by Brett Tams

Are you looking for the best game apps to win money? Yes, you can actually play games to win real money on your phone and make extra money. There are lots of apps for both iPhones and Androids that let you do this. If you already spend a lot of time playing games on your…

Are you looking for the best game apps to win money?

Yes, you can actually play games to win real money on your phone and make extra money.

There are lots of apps for both iPhones and Androids that let you do this. If you already spend a lot of time playing games on your phone, then you might as well get paid for it, right?

In this article, I’m going to talk about some really good game apps that let you win actual money prizes. These games include ones like those you might find in a casino as well as easier puzzle games and even arcade style games. So, there’s something for everyone. When you play and collect points or coins, you can get your winnings through easy ways like PayPal and Apple Pay.

Key Takeaways

Playing game apps can be fun and you can even win real money.
The best game apps that pay real money include KashKick, Swagbucks, and InboxDollars.
Popular payout methods include PayPal, Apple Pay, and gift cards.
Game apps pay real money rewards because they make their money from ads and in-app purchases. They give you a portion of their earnings to encourage you to continue playing their games.

Do any game apps actually pay real money?

Yes, some game apps do pay real money or in gift cards. They most likely will never be a main source of income or a full-time job, though – simply just a way to make some extra money.

Why do game apps pay you real money?

Game apps that give out real money usually make money through ads, things you buy in the app, and paid gaming competitions/tournaments. They share a little of what they earn with you to get you to keep playing their games.

Sometimes, game apps have partnered with different game developers and companies so that people will try new games and earn rewards for them. Since the game app is being paid and they want more people to play the game, they then will share some of their earnings with you to get you to keep playing the games in their app.

It’s a win-win! You get to enjoy yourself and make some extra money, and businesses get to showcase their ads and games to a wider audience.

Recommended reading: 30 Best Money Making Apps

Best Game Apps To Win Real Money

Here’s a quick list of the top game apps that pay real cash:

KashKick
Swagbucks
InboxDollars

Below, I dive further into the best game apps to win real money.

1. KashKick

I think the best game app to win real money is KashKick.

KashKick allows you to earn $100 or more by playing popular mobile games like Yahtzee and Monopoly GO. You can also make money by trying new products and services, watching videos, answering surveys, and reading emails.

There are many different games you can play on KashKick such as:

Coin Master
Monopoly GO
Yahtzee
Family Island
Bingo Blitz
Scrabble Go
Solitaire Smash
MGM Slots

For example, here’s how you can make money playing Monopoly Go on KashKick: “Install (make sure to accept tracking requirements on your device!) and reach Board 27 within 8 days from the install date to get $30, reach Board 42 within 12 days for $40 more and reach Board 71 within 24 days for another $50 – for a total of $120!”

Please click here to sign up for KashKick for free.

Recommended reading: KashKick Review

2. Swagbucks

Another favorite game app to win real cash is Swagbucks.

Swagbucks is a very popular rewards site where you can earn money by playing games, taking surveys, watching videos, and shopping online, and you can cash out what you earn with PayPal cash or gift cards.

Swagbucks is a company that I started using years ago, and it has helped me easily earn some extra cash on the side, all from home or while traveling. I have personally earned over 100 free gift cards through Swagbucks, so I know that they are a legit game app that pays you real money!

To play games on Swagbucks, you simply head to the “Play” tab when you are logged in. When I logged in, I had over 20 available games that I could get paid to play, with a total rewards value of $2,264.02 or 226,402 SB points.

Some of the games you can play on Swagbucks include:

Match Masters
Farmville
Lucky Buddies
Dragonscapes Adventure
Wizard of Oz Slots
Solitaire Smash
POP! Slots
Dice Buddies
Swagbucks Live

If you join Swagbucks through my referral link, you can receive a $10 bonus.

Recommended reading: Swagbucks Review

3. InboxDollars

InboxDollars is another good rewards site that pays you cash for taking surveys, shopping online, playing games, and reading certain emails. In fact, InboxDollars has been around since 2000, and they have paid over $80 million in cash and gift cards.

They pay via PayPal cash as well as gift cards to places such as Amazon, Apple, Target, Dunkin’ Donuts, Lowe’s, Barnes & Noble, and Gap.

To play games on InboxDollars, simply head to the tab that says “Games.”

When I log in, I have 8 games available for me to currently play, such as Mahjong Dimensions, Solitaire, Word Wipe, Monkey Bubble Shooter, Pyramid Solitaire, Candy Jam, Pet Hop, and Giant Hamster Run.

4. PrizeRebel

PrizeRebel is a popular rewards site where you can play games (as well as take surveys that pay instantly and more). You can redeem your rewards points for PayPal cash, gift cards, and even cryptocurrency.

Some of the games on PrizeRebel include Bingo Blitz, Solitaire Grand Harvest, Age of Apes, Kingdom Guard, Yahtzee, Woody Sort, Viking Rise, and more.

You can sign up for PrizeRebel here.

5. MyPoints

MyPoints is a rewards platform where you can earn money by playing games, watching videos, and participating in surveys. Your earnings can be redeemed as gift cards or PayPal cash.

To get paid to play games on MyPoints, you log in and head to the “Games” tab, and there you will see games such as Bejeweled, Bingo, Catch 21, Puzzle Match, Wheel of Fortune, and more.

6. Blackout Bingo

Blackout Bingo is a highly-rated bingo game app that allows you to win real cash. In fact, there are nearly 90,000 reviews on the App Store alone, with an average of 4.5 out of a 5 star rating.

Over 5,000,000 people have played this bingo app where you can win rewards and cash prizes too.

You play against other players in real time and can cash out your winnings via PayPal.

7. Bingo Cash

Bingo Cash is a fun game of Bingo that you can play for free, and you can play against other people no matter where you are in the world. You get to “travel” to different places in the game and practice your Bingo skills. Plus, you can win really big prizes!

Bingo Cash is a free game that you can play on the popular gaming platform called Papaya.

It’s easy and safe to get your prize money through PayPal. You can choose from lots of cool prizes like Airpods Pro, iPads, and coffee makers!

Note: If you live in AZ, AR, CT, DE, LA, MT, SC, SD, or TN, you can’t join prize tournaments. But don’t worry, you can still play for fun with the game app’s virtual currency.

8. Solitaire Cube

If you like to play solitaire, then this is the game app for you as you can get rewarded for playing just like how you normally do.

Solitaire Cube is a card game app that allows you to test your card skills and win real money. The game is available for free on iOS and Android and is perfect for solitaire fans who want to put their skills to the test.

With this game app, you play against other real players all from your phone. Your rewards can be cashed out for PayPal cash or Apple Pay.

9. Mistplay

Mistplay is one of the most popular game apps to win money, with over 400,000 reviews and an average rating of over 4.1 stars out of 5. There have been over 10,000,000 downloads of this app too!

Mistplay is an app where you can earn money by playing and testing new games on your smartphone. It’s a great option if you enjoy discovering new games and want to make some extra cash.

Mistplay has given away $60,000,000 in rewards for playing games since the site was created too.

You can redeem your points for PayPal cash or gift cards to Visa, Amazon, and more.

Note: This app is currently only available for Android phones on Google Play.

10. Fanduel Fantasy Sports

If you like football, soccer, hockey, baseball, basketball, golf, and other sports, then this is the app for you.

Fanduel Fantasy Sports is a sports betting site where you create your fantasy sports lineup and compete with other players for cash prizes.

With this app, you have a chance to win real money. You simply create your fantasy team, keep an eye on your scores, and compete every day for prizes in lots of different fantasy contests.

Note: Fanduel Fantasy Sports is only open to U.S. residents and users must be 18 or older (19 or older in AL, 21 or older in AZ, IA, LA, MA). Users physically located in DE, ID, HI, MT, NV, and WA are not eligible to participate in paid contests.

11. Cash’em All

If you’re a casual gamer and want to play games in your spare time for a chance to win real cash, give Cash’em All a try.

This app doesn’t bother you with in-app purchases or ad walls. Instead, you earn points, or “coins” as the app calls them, for each second you play their games.

There are many different games that you can play on Cash’em All, such as Candy Crush, Match Masters, Bingo Blitz, Coin Master, and more.

You earn points which then can be exchanged into PayPal cash or gift cards to places such as Netflix, Amazon, and more.

Note: This app is currently only available for Android phones on Google Play.

12. 21 Blitz

21 Blitz is a blackjack and solitaire hybrid card game where you can win real money, and it’s a fun choice for people who like card games. Also, it’s great for practicing blackjack, exercising your brain, or simply having fun.

You can play against real people for free. When you feel ready, you can switch to cash games and have a chance to win real money.

This game is a part of the Skillz platform, which is a popular game app platform where people can win real money through their collection of different games that they have (they have some of the best games to win real money).

13. Pool Payday

Pool Payday is the top pool game app where you can play 1-on-1 pool games and win real cash prizes.

This is a free game app where you can win real money taking pool shots and winning points.

The app is available on iOS devices through the App Store, and you can withdraw your winnings via PayPal cash or Apple Pay.

Note: You can join cash tournaments in most places around the world. However, if you live in AZ, AR, CT, DE, IL, IN, LA, ME, MT, SC, SD, or TN, cash tournaments are not available. But, you can still play for free if you live in these states.

14. Bubble Cash

If you like bubble shooter games, then this is the best bubble shooter game app.

Bubble Cash lets you play against other players in real-time bubble shooter games, with the chance to win cash prizes. Bubble Cash is a bubble shooter game where the more bubbles you pop, the higher your chances of winning.

I know people who spend hours playing these types of games, so this can be a fun way to get rewarded to play a favorite game.

Here’s how to play:

Match three bubbles of the same color to pop and clear the board.
Tap the screen to aim the laser, then lift your finger to shoot the ball.

You can download the app on iOS and Android devices.

15. Solitaire Cash

Solitaire Cash is a card game app where you can play solitaire games for real money.

Once you download the game for free, you can play regular or cash tournaments and have a chance to win real money.

You’ll play against players of similar skill levels, and everyone gets the same deck. So, the game is fair and based on your skills.

The app is available on iOS and Android devices.

16. Rewarded Play

Rewarded Play is an app that pays you for playing games on your phone. If you want to play a variety of games, then this is the app for you.

You can play games such as Scrabble, Yahtzee, Bingo Blitz, Wheel of Fortune, and more.

The way the app works is that they introduce you to new games. Then, the more time you spend playing their games, the more points you can earn. Your points can be redeemed for gift cards to places such as Amazon, Walmart, Target, Nordstrom, and more.

17. Dominoes Gold

Dominoes Gold is one of the best dominoes game apps where you can put your domino skills to the test and win cash prizes.

You play by challenging your opponent in the same games against the computer and see who can win with more points.

The app is available for iOS devices, and you can cash out your winnings via PayPal.

18. AppStation

AppStation is an app that pays you for playing new games on your phone. You can earn coins by trying different games and then redeem them for PayPal cash or gift cards. Games include Fishdom and Match Royal.

Note: Only available for Android users.

19. Jackpocket

Jackpocket is an app that lets you play lottery games and potentially win real cash prizes. You can buy lottery tickets through the app and even be notified if you win. This can be an easy way to play your local lottery games right from your phone.

You can have Powerball, Mega Millions, Cash4Life, and other lottery tickets from NY, NJ, and NH sent directly to your phone.

Just pick your game and numbers (or use Quick Pick), and the app will safely get your ticket from a licensed lottery seller.

If you win less than $600, the money goes directly to your Jackpocket account. For big wins, they make sure to safely deliver you your ticket so that you can redeem your winnings yourself.

20. Cookie Cash

Cookie Cash is a Match 3 puzzle skill game from Papaya Gaming that is for the iPad and iPhone.

With Cookie Cash, you can play as much as you want for free. Then, once you’re ready, you can compete against other players for prizes and real money, such as PayPal cash and Apple Pay.

Note: Cash tournaments are not available in the states of AZ, IA, LA, and SC.

21. Money Well

Money Well has many arcade-style games that you can play to win real money, and this is a very popular game app with over 10,000,000 downloads and an average rating of 4.3 stars out of 5 stars (with over 528,000 reviews!).

You can simply play the games, collect coins, and cash out your earnings for PayPal cash and gift cards to places such as Grubhub and Apple.

22. Bingo Clash

Bingo Clash is a bingo game app from AviaGames with high ratings, and they give real money payouts through PayPal, Apple Pay, Visa, Mastercard, American Express, and Venmo. You can play this game for free and enjoy the competitive nature of real-time bingo.

You’ll play against real players who have similar skills and compete in classic, fun, and fair cash games based on your skills. You can also take part in tournaments with different match styles, and the higher you place, the bigger your prize.

Note: Cash games are not available in the following states of AZ, AR, CT, DE, LA, MT, SC, SD, TN, and VT. But, if you live in one of these states you can still play the game for free.

23. Spades Blitz

Spades Blitz is a card game app where you can win cash earnings by playing and mastering the popular card game of spades.

With Spades Blitz, you compete against real people from around the world in tournaments, where you pay an entry fee to take part.

You can get paid via PayPal cash or check.

Note: The app is available on the App Store and the Galaxy Store. Currently, Spades Blitz is only available for iPhones and Samsung devices.

More Ways To Get Paid To Play Games

There are more ways to get paid to play, other than the game apps listed above. If you like to play games and want to make money, some other ideas to look into include:

Become a Twitch streamer

Twitch is a site where you can make money playing video games, talking, and more.

If you like playing video games, live streaming yourself playing can be a way to make money doing what you love. As you gain followers and subscribers on Twitch, you can earn income through ads shown on your stream, donations from viewers, and monthly subscription fees.

Most Twitch streamers don’t earn a full-time income, but there are some who make well over $100,000 annually. In fact, a few even bring in millions of dollars each year.

To see success on Twitch, I recommend finding ways to keep your audience interested, playing the games that you actually enjoy, and sticking to a regular streaming schedule (because your followers will want to see you consistently!).

You can learn more at How Much Do Twitch Streamers Make?

Play in game tournaments

Playing in gaming tournaments can be a way to make money if you’re really good at a certain game.

Many popular competitive games like Fortnite, League of Legends, and Call of Duty host large-scale tournaments with large prize money.

You’ll need to practice a lot, though, as there are many good players in all games – and you want to be the best in order to actually make some money.

Start a gaming blog

If you love games, then you may be interested in starting a gaming blog.

Starting a gaming blog gives you a platform to share what you know about games, your thoughts on games, and your experiences with other gamers. You can make money from your blog through ways such as affiliate marketing, sponsored content, display ads, or even by selling merchandise.

You can learn more about how to start a blog here.

Become a game creator

If you love gaming and have an interest in design or programming, think about making your own games. Independent game creators can build games for different platforms like PCs, consoles, or even phones.

While a college degree isn’t always required, it can be very helpful. You may want to get a degree in fields like game design, computer science, or graphic design, and also look for courses specific to game design.

First, try finding internships, co-op programs, or beginner-level jobs at companies that make video games. This will give you important experience in the field and let you learn from people who have been doing this for a while.

Sell game merchandise

If there’s a popular game out there, then you may be able to sell merchandise to earn some extra cash.

Some examples of merchandise include T-shirts, posters, or accessories based on popular games.

Of course, you will want to make sure that you can legally do this, as you don’t want to get in trouble for pretending to be a certain game app or anything like that.

My Tips For Playing Game Apps That Pay Real Money

Below are my tips for getting paid to play game apps from your phone.

Be smart about how much time you are spending.

When playing game apps, it can be really, really easy to let time get away from you and play too much (especially if you are a winner!). After all, you are probably having fun and it’s something that you can easily do from your phone.

But, you don’t want to forget about everything else in your life.

You don’t want your game app playing to turn into an obsession (such as with arcade games or trivia games) or into a gambling addiction (as many of the above are similar to casino games).

So, I recommend being careful with any games that require you to pay money (such as to join tournaments) and know your limit. You may want to set a timer for playing and a budget.

You may have to pay taxes.

If you’re winning money from these game apps, then you will need to pay taxes. This means that you will want to save money from any of your winnings for taxes so that you are not surprised at the end of the year with a huge tax bill.

Read real reviews and experience with game apps that pay money.

When you’re trying out different game apps where you win real money, it’s important to read real reviews and experiences. This helps you make a smart choice as reading honest thoughts from other players can give you a clear picture of the app’s pros and cons, how they pay out, how easy they are to play, and if people actually enjoy them.

Some things in game app reviews to look out for include:

If the customer service support is helpful (do they actually answer emails if you have an issue?)
If payments are actually being made and if they are on time (if many people are leaving reviews saying that they are not getting their payments, then you may want to do more research before you start playing games on that specific app)
If the game is fun (of course, this is just an opinion and everyone is different, though)

Keep in mind, while winning real money in gaming apps can be exciting, it’s important to remember that it’s not a full-time job with a full-time income. Always focus on having fun first.

Frequently Asked Questions About Playing Game Apps To Win Money

Below are answers to common questions about playing game apps to win real money.

Which games are best for earning real money? What are some popular real cash games?

There are many game apps that can help you earn real money and some of the top game apps are KashKick, Bingo Cash, Blackout Bingo, Solitaire Cash, and Mistplay. You may want to test a few and see which one is a game that you actually like.

How can I find legit cash games?

To find real cash games that you can trust, you should look for ones that are popular and have good reviews by looking at the Apple Store or Google Play Store to read user ratings and reviews. This can give you a good sense of the game’s legitimacy and whether or not they actually pay out the rewards you earn.

Do any game apps offer instant payouts?

Even if some game apps claim to have instant payouts, the actual time it takes can still vary. Usually, it might range from a few minutes to a couple of days for your rewards to show up in your account.

Are there money-making game apps for iPhones?

Yes, there are several money-making game apps available for iPhone users. Some of the popular ones include Solitaire Cube, 21 Blitz, and Blackout Bingo.

Can I earn money directly to my bank account with game apps?

Certain game apps let you transfer your earnings directly to your bank through direct deposits, while others pay through PayPal, Apple Pay, Amazon gift cards, or other cash rewards.

Game Apps To Win Money – Summary

I hope you enjoyed this article on how to play game apps to win money. As you can see, you have many options!

To sum it up, there are game apps that give real money rewards, and they can be a fun way to spend your time. But remember, they shouldn’t be your main source of income. Think of them as a fun way to make a bit of extra money.

Do you play any game apps to win money? Which one is your favorite?

Recommended reading:

Source: makingsenseofcents.com

Apache is functioning normally

December 5, 2023 by Brett Tams

The Offer

Check your email for an offer on the Bilt Rewards credit card: <Subject: Earn 5K bonus points this month>

Get up to 5,000 bonus points for using your Bilt Mastercard with any of these eligible merchants: AT&T, Verizon, Sprint, T-Mobile, Comcast, Xfinity, Spectrum, Spotify, Netflix, and Hulu.
You’ll earn 1,000 points for your first transaction with each eligible merchant. But hurry, this offer is only valid for the next 30 days so start earning today.
P.S. this is in addition to earning 1X Bilt Points when you use the card 5 times each statement period.

Our Verdict

I’m not sure if this is a targeted offer or if it was sent out to all cardholders. Most people should be able to get one or a few of these 1,000 points bonuses. Not clear if prepaid cellular plans will work.

Hat tip to reader SJ

Source: doctorofcredit.com

Apache is functioning normally

December 4, 2023 by Brett Tams

Looking to learn the best ways to make money while you sleep? Do you ever feel worn out from your regular routine and tired of struggling to manage your money? Just picture being able to earn money even when you’re sleeping, without having to work long hours. In this article, I will show you 19…

Looking to learn the best ways to make money while you sleep?

Do you ever feel worn out from your regular routine and tired of struggling to manage your money? Just picture being able to earn money even when you’re sleeping, without having to work long hours.

In this article, I will show you 19 ways to help you reach financial freedom by earning passive income, such as while you sleep.

Having different ways to make money might seem like something crazy, but with the right plan and some hard work, it can actually happen.

In fact, I earn income all the time while I am sleeping and I love it. Now, that doesn’t mean that it’s easy. Some of the ways below will be harder than others, and they may take up a lot of time still. But, you may be able to earn money throughout the day from the hard work that you put in.

Key Takeaways

There are many ways to make money while you sleep, such as by blogging, selling digital products on Etsy, renting out storage space or real estate, putting your money in a high yield savings account, earning dividends, and more.
Some are easier to start than others – so make sure to think about the pros and cons, such as how much time it may take you or how much money you will need to start (your minimum investment!).

19 Best Ways To Make Money While You Sleep

Below are 19 ways to make money while you’re asleep.

1. Blogging

My favorite way to make money while I’m sleeping is by blogging, and it is a great way to make passive income while you sleep. I have been blogging for many years now (since I started Making Sense of Cents, I’ve made more than $5,000,000 from my blog), and I am able to work and earn money while I am asleep, such as by selling digital products, display advertising, and through affiliate marketing.

This is because readers read my blog posts throughout the day and night, even when I am not working. I have blog posts and advertising on my site, for example, that earn me income throughout the day.

So, what is a blog? A blog is like the article you’re reading now, written and published on a website. It’s basically a collection of written content. You can start a blog about many different topics, such as finance (like my blog!), recipes, family, health, wellness, pets, sports, outdoors, travel, and more.

Other similar ways to make money in your sleep include starting a podcast or a social media account, such as on TikTok or Instagram.

Recommended reading: The 25 Most-Asked Blogging Questions To Get You Started Today

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. Affiliate marketing

If you want to learn how to make money overnight (such as when you’re sleeping), then my absolute favorite way is affiliate marketing.

This is one of the main ways I make money on my blog, but you don’t need a blog to do affiliate marketing either. You can do affiliate marketing on Instagram, Facebook, Pinterest, an email list, and more.

Affiliate marketing is when you share products or services from other companies with readers, subscribers, or people that you know. When someone buys through your referral link, you get a commission and earn some money from the company.

Here’s an example: Let’s say you write about a book on your blog and provide a link to it. If someone buys that book through your referral link, you get a commission.

You’ve probably bought things through affiliate marketing many, many times over the years. I definitely have!

Recommended reading: Affiliate Marketing Tips For Bloggers – Free eBook

3. Selling printables

Making and selling printables is another good way to make money without much active effort.

Printables are digital items that people can download and print at home. They can be things like games for a bridal shower, checklists for grocery shopping, planners for managing budgets, invitations, coloring pages, quotes designed to be printed and hung on walls, and more.

I buy printables all the time, and so do other people. In fact, I bought a printable the other day for my daughter – one that would help her learn the alphabet that I could print out at home for her.

Making printables can be a passive way to earn money. You only need to make one digital file for each product, and you can sell it as many times as you want. All you need is a laptop or computer and an internet connection, which makes it a low cost way to start a business.

Recommended reading: 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.

4. Investing in real estate

Investing in real estate is a popular way to make passive cash flow while you sleep.

By purchasing rental properties, you can earn a steady flow of rental income from tenants and guests. Also, your property’s value will most likely appreciate over time, which can increase your net worth.

You can invest in residential properties, commercial real estate, short-term rentals (such as starting an Airbnb), REITs (real estate investment trusts), and more. There are pros and cons of each, so you will want to think about that before you get started.

Recommended reading:

5. Starting a YouTube channel

Starting a YouTube channel is another way to make money while you sleep. This is because you can add affiliate links to your videos, generate ad revenue, form brand sponsorships, and sell products within videos as well.

You’ll need to create videos that entertain, educate, or inform viewers, and get as many views to your videos as you can (for the most part, more page views usually does mean more income).

As your YouTube content becomes more popular, you will earn passive income from past videos while working on new content.

Recommended reading: How I Grew From 0 Subscribers To Over $100,000 On YouTube In Less Than One Year

6. Dropshipping

Dropshipping is a type of business where you sell items on an online store, but you don’t do the shipping. Instead, you have a supplier that does the shipping for you.

So, this means that you don’t need to keep any products in stock yourself.

That doesn’t mean that this is easy, though – you have to find trustworthy suppliers and make sure your customers get their orders on time. You will also need to create a website, find a way to differentiate yourself from other dropshippers, take pictures of the items you are selling, answer customer questions, and find ways to grow your store.

The types of items that you can sell in a dropshipping store include clothing, electronics, home decor, pet supplies, luggage, stationary, craft supplies, books, and more.

7. Online courses

I have made over $2,000,000 from selling courses over the years – courses that I have personally created.

Making and selling online courses is a great way to earn money at any time of the day – even while sleeping.

Some examples of courses that can be created include:

Parenting and family
Health and wellness
Woodworking
Dog training
Standardized tests preparation
Playing the guitar
Teaching a language
Traveling
Painting
Cooking

And so much more!

I have taken courses on all sorts of topics over the years, such as baby sleep classes, personal finance, credit card rewards, and so much more.

Creating an online course is one of the fastest ways to use your time, increase your earnings, and help more people.

Recommended reading: How I’ve Made Over $1,000,000 From My First Course Without a Big Launch

8. High yield savings accounts

A high yield bank account is a low-risk method to make extra cash while you sleep.

These types of savings accounts earn a higher interest rate than a regular savings account, so your money grows faster.

You will want to make sure that you pick a trustworthy bank and check the interest rates regularly because they can go up or down. Some people move their money into high yield savings accounts often so that they can get the highest interest rates.

Remember, these accounts usually over the long run have lower interest rates compared to stocks or real estate, but they give you a stable and secure way to earn money.

I personally use Marcus by Goldman Sachs as they have a very high rate. You can get up to 5.40% at the time of this writing through a referral link bonus. According to this high yield savings account calculator, if you have $10,000 saved, you could earn $540 with a high yield savings account in a year. Whereas with normal banks, your earnings would only be $46.

9. Dividends

Buying stocks that pay dividends is another way to earn money while sleeping.

When you invest in these stocks, you get a portion of the company’s earnings on a regular basis.

Here’s how dividends work: If you have shares of a company that gives you money because you own them, that’s called a dividend. So, if you own 10 shares of Company XYZ, and they give you $5 in dividends every year, you’ll get $50 in total for that year. Usually, companies give out dividends four times a year. In the example, the $5 they give you every year will likely be divided into $1.25 for each quarter (four times a year).

Recommended reading: What Are Dividends & How Do They Work? A Beginner’s Guide

10. Rent out your garage

If you have extra land or space in your home that you’re not using, you can make money by letting other people use it for storage.

You can rent storage space for things like cars, boats, boxes, and more. This could be your garage, driveway, closet, basement, attic, or even just a shelf.

A website where you can list your storage space is Neighbor. On this site, you can make between $100 and $400 or more every month. How much you earn depends on how much people in your area want to rent and what kind of space you’re renting out.

Recommended reading: Neighbor Review: Make Money Renting Your Storage Space

You can use this website to list your unused space for rent and make up to $15,000 per year by doing so. With Neighbor, you can rent out your garage, driveway, basement, parking lot, shed, warehouse, carport, attic, street parking, or even a closet.

11. Hosting webinars

Webinars are like online classes or workshops about specific subjects (I’ve included a list below of some examples). If you’re an expert in something, you can record a webinar and charge people to attend or sell products and services related to the topic during the webinar.

You can also record your webinars and let people watch them whenever they want, which can bring in money while you are sleeping or on vacation.

For example, you could host a webinar about:

Starting an e-commerce store – Teach participants the ins and outs of setting up and running a successful online store.
Digital marketing strategies for small businesses – You could share online marketing techniques to help businesses grow their online presence, such as tips for TikTok, Instagram, Pinterest, Google SEO, and more.
Stock market investing for beginners – You could share advice and tips for newbies in the world of stocks, mutual funds, index funds, bonds, S&P, and investment portfolios.
How to make money with affiliate marketing – You could teach the strategies behind successful affiliate marketing sites.
How to invest in fine wine – Or, any other type of investment! If there is something specialized that you invest in that is different from normal, you may be able to generate interest in your webinar.

And so much more.

12. Peer-to-peer lending

Peer-to-peer (P2P) lending is when you lend money to people or businesses who need loans, and they pay you back with interest.

Websites like LendingClub and Prosper let you spread out your money to lots of borrowers, which lowers the risk if someone can’t pay you back.

As borrowers make their payments, you get a part of the interest, which adds to your passive income streams that you can make without working.

With a peer-to-peer lending site, people can borrow money from a group of lenders like you and me, rather than from a traditional financial institution like a bank. People use peer-to-peer lending sites for all sorts of reasons such as debt consolidation, home improvement, small business financing, investment opportunities, and more.

13. Selling stock images and graphics

If you like taking pictures, you can make money in your sleep by selling stock images on websites like Shutterstock, Getty Images, or Adobe Stock.

People buy stock images for all sorts of reasons, such as to put on their website, within articles and blog posts, on social media, and more. I buy stock images all the time because they can help to make a blog post more enjoyable to read (you can find several stock images within this blog post, in fact).

A great thing about stock content websites is that they can bring in money even when you’re not actively working. You take pictures, put them on the site, and they can keep making money for a long time.

Some common types of pictures that you can sell include travel, business, people, food, animals, health, fashion, sports, and more.

Recommended reading: 18 Ways You Can Get Paid To Take Pictures

14. Start a membership site

Creating a membership site where people pay a regular fee (such as each month or each year) for special content, resources, or services is a way to make money.

Some examples of membership sites that you can start include:

Stock image library – You can sell a collection of pictures or videos that subscribers can use for their own projects (such as their own business). Subscribers pay for access to this media library. I personally have been paying for a stock photo membership for years, and I think they are amazingly helpful.
Newsletter – Send valuable and special content straight to your subscribers’ email inboxes regularly where you charge a subscription fee for access.
Mastermind groups – You can form small, focused groups of individuals who come together to support and challenge each other in achieving their goals, and you charge a membership fee for participation. I have seen mastermind groups go for anywhere from free to tens of thousands of dollars a year to participate.
Freelance job board – You can start a site where freelancers can find real job listings and opportunities. Members pay for access to these job listings because they want to find real jobs that pay (instead of having to weed through fake ads or low paying ones).
Consulting or coaching services – You can give personalized advice, coaching sessions, or access to a private community for members looking for guidance in a specific area, like life coaching or business consulting.
Fitness membership – You can create a platform with workout plans, meal plans, and wellness tips. Members pay a monthly fee for access to this content.
Digital downloads library – You can create a library of downloadable resources like ebooks, templates, or software. Subscribers gain access by becoming members.
Community forum – You could create a community around a shared interest or hobby where members can engage in discussions, ask questions, and share experiences, and you charge a fee for access.
Online courses membership – You can start a platform where you have courses on a specific subject, like photography, cooking, or digital marketing, where subscribers then pay a monthly fee to access the content.

Keep in mind, the secret to a successful membership site is giving real benefits to your subscribers. So, whether it’s great content, a helpful community, or useful resources, make sure your members feel like they’re getting what they paid for so that they keep their subscription for months and years to come.

15. Sleep studies and mattress testing

Taking part in sleep studies and mattress testing will most likely not be a long-term, reliable source of income, but it can earn you some extra money while you literally sleep.

You can find these by researching local sleep clinics or mattress companies that have paid studies or testing. Many universities also pay for sleep studies, such as the Harvard Division of Sleep Medicine.

The amount of money you can make depends on the specific study or testing, but it can be an interesting way to earn some extra money or get a free mattress for your time.

16. Vending machine business

Running a vending machine business can be a good way to make money, and you can sell different kinds of products. You may be able to earn over $1,000 a month with a well-run vending machine business.

Here are some ideas of what you can sell in a vending machine:

Snacks and drinks:
- Chips
- Candy
- Nuts and seeds
- Cookies
- Soda
- Bottled water
- Energy drinks
- Juices
Healthy and organic food:
- Granola bars
- Dried fruits
- Nut mixes
- Organic snacks
- Low-calorie drinks
Hot drinks:
- Coffee (regular, decaf, specialty)
- Tea
- Hot chocolate
Frozen treats:
- Ice cream
- Frozen yogurt
- Popsicles
Fresh food:
- Sandwiches (pre-packaged)
- Salads (in sealed containers)
- Fruit cups
- Yogurt parfaits
Personal care and hygiene items:
- Tampons and pads
- Toothbrushes and toothpaste
- Hand sanitizer
- Makeup
- Vitamins and supplements
- First aid kits
- Pain relievers
Electronics and accessories:
- Phone chargers
- Headphones
- Power banks
Office and school supplies:
- Notebooks
- Pens and pencils
- Sticky notes
- USB drives
Specialized items:
- Fishing bait and supplies
- Beauty and skincare products
- Baby items (diapers, wipes, toys, snacks)

Recommended reading: How I Make $7,000 Monthly With A Vending Machine Business

17. Amazon FBA

Amazon FBA (Fulfillment by Amazon) is where sellers store products in Amazon’s fulfillment centers, and Amazon handles customer shipping, returns, and customer service on the seller’s behalf. By using FBA, you can sell a variety of products without worrying about storing inventory or handling shipping logistics.

You would be finding the products to sell, though. Even if you have no experience selling on Amazon, you can earn money selling household goods, toys, books, electronics, and so on.

If you want to learn more about starting an Amazon business, I recommend signing up for this free training that will teach you how to sell products on Amazon and make $100 to $500 per day.

Recommended reading: How To Work From Home Selling On Amazon FBA

18. Write a book

People can buy books at any time of the day, including while you are sleeping.

Self-publishing online platforms, such as Amazon KDP (Amazon’s Kindle Direct Publishing platform), allow you to reach a broad audience without the need for a traditional publisher.

Writing your own book is a great way to make money from home, and there is probably something helpful that you could write about (even if you think otherwise!). One very popular topic right now is romance novels, in fact.

Recommended reading: How Alyssa is making $200 a DAY in book sales passively

19. Develop and sell an app

If you have technical skills, developing and selling an app can be a way to make money overnight while you are sleeping.

Creating your own app, whether it’s a helpful tool, a fun game, or something else, can help you to make passive income.

Even though it will take some work and money up front, once your app is in the app stores, it can generate revenue no matter the time.

Some ideas for apps that you could create include a budgeting tracker, meal planner, fitness tracker, meditation app, travel itinerary planner, and more.

You will want to do some research, and make sure that there are people who want to use the app that you are thinking about creating, of course. You could start brainstorming ideas by thinking about what kind of app you think could be helpful in your life to have.

Frequently Asked Questions On How To Make Money While You Sleep

Below are answers to common questions on how to make money while you sleep.

What is passive income?

Passive income is money you earn without actively working, and instead, it comes from investments, businesses, or assets that require minimal effort on your part. Now, that doesn’t mean that making passive income is easy, as you will most likely have to put in a lot of work in the beginning to get started. But, it can be well worth it to make money at any time of the day. Passive income is personally my absolute favorite way to make money.

Which businesses make income overnight? What businesses make money while you sleep?

A few businesses that can generate income even when you’re not actively working are online stores, affiliate marketing websites, and selling printables. These businesses run online, making them accessible to customers 24/7 so people can use them.

What did Warren Buffett say about making money while you sleep?

Warren Buffett, a successful investor and businessman, is quoted as saying, “If you don’t find a way to make money while you sleep, you will work until you die.” This goes to show how important it is to find ways to make money without constantly working a regular 9-to-5 job.

What is the best way to make money while you sleep? – Summary

I hope you enjoyed this article on how to make money while sleeping. As you can see, there are many full-time jobs and side hustles to make money while you sleep such as:

Blogging
Affiliate marketing
Selling printables
Investing in real estate
Starting a YouTube channel
Dropshipping
Selling online courses
Putting your money in high yield savings accounts
Dividends
Rent out your garage
Hosting webinars
Peer-to-peer lending
Selling stock images
Start a membership site
Sleep studies and mattress testing
Vending machine business
Amazon FBA
Write a book
Develop and sell an app

Do you want to learn how to make money while you sleep?

Source: makingsenseofcents.com

Apache is functioning normally

December 3, 2023 by Brett Tams

I’ve been investing nearly 25 years, long before online brokers came on the scene. During that time I’ve used several of the best online discount brokers, including Scottrade, OptionsHouse, and even Vanguard’s brokerage services. Based on that experience and a lot of research, I’ve compiled this list of the top options.

Note that I have accounts at each of these firms and have personally tested their trading platforms, research, and other tools. Here’s a quick look at the top brokers.

Compare Discount Brokerage Accounts

Best Online Discount Brokers Firms of 2023

TD Ameritrade: Ideal for more experienced traders looking for a rich set of tools and resources.
E*TRADE: offers trading platforms and tools for any investment style
Ally Invest: Best for new investors and those looking for a very easy website to navigate.
Fidelity: Best for those looking for a robust broker with offices nationwide.
You Invest by J.P. Morgan: Best for free trades and cash bonuses

Over the years I’ve learned three important things about brokerage firms.

First, there are a lot of them. You’ve probably heard of many discount sites that allow you to trade stocks online, but I’m guessing there are a lot of online brokers you’ve never heard of (Sogotrade may be one example).

Second, while on the surface they can all seem similar, when you dig deep into what these brokers offer, you’ll find big differences. For example, not all of them offer the same account types. With some you can’t buy mutual funds, while others offer more mutual funds than most. And the stock trading tools available to you vary from one discount broker to the next.

And the third thing I’ve learned is that the cost of these discount firms can be tricky to understand, and in the end, may not be the most important factor. Because I watch every dime we spend, it may seem odd that cost isn’t the most important factor to me (after all, we are talking about “discount” sites, not full-service brokerage firms). The reality, however, is that unless you are an active trader, the cost of a few trades a year will be small.

Summary Of The Best Online Discount Brokers

TD Ameritrade

The now least expensive discount broker on our list, TD Ameritrade, offers some of the best online trading tools. Its platform “Trade Architect” is my favorite portal to use, specifically designed for casual investors like myself. If you’re looking for a more hardcore approach, they also have a thinkorswim platform that offers more data, more 3rd party research and more functionality.

Again, decided to cater to both casual and advanced investors by creating two separate mobile apps.

TD Ameritrade Mobile (for the casual investor)
Mobile Trader (for the advanced investor)

TD AmeritradeSummary:

Trade Stocks: $0 flat fee
Margin Rates: -0.75% to +1.25% of a base rate (base rate = 8.25% as of 11/12/2020)
Broker Assist Fee: $25.00
Mutual Funds (Load): $0
Mutual Funds (No Load): $49.99
Minimum Deposit: None
Sign up Bonus:N/A

For more information check out our TD Ameritrade review or visit TD Ameritrade.

E*TRADE

E*TRADE has been on a buying spree. Back in 2014 TradeMonster and OptionsHouse merged. Now E*TRADE has acquired the combined entity. E*TRADE offers trading platforms and tools for any investment style. It offers low costs even for infrequent traders, like myself. E*TRADE also offers E*TRADE Pro for active traders. And of course, it offers an excellent mobile experience.

E*TRADE Summary:

Trade Stocks: $0
Trade Options: $0 ($0.65 per contract or $0.50 per contract w/ 30+ trades per quarter)
Margin Rates: Ranges from 7.00% to 10.50% based on debit balance
Mutual Funds: $0 to $19.99 per trade

Read More: E*TRADE Review

Ally Invest

I’ve banked at Ally for years. Its website is one of the easiest to use among all banks, including online banks. Its fees are low to non-existent, and its banking rates are some of the best you’ll find on deposit accounts. So it was no surprise that Ally brought the same consumer-friendly approach to investing.

At Ally Invest stock and ETF trades are just a flat fee of $4.95. For you options traders out there, Ally charges just $0.65 per contract plus a $4.95 base. If you have a $100,000+ average daily balance and/or more than 30 trades per quarter the cost per stock or ETF trade drops to $3.95 and options contracts fall to $0.50 + $3.95 base. It’s hard to imagine a lower cost.

Ally also offers a Cash Enhanced Robo Portfolio. Like other robe-advisors such as Betterment, Ally Invest manages the portfolio, including dividend reinvestment and rebalancing. Ally charges 0% for the service. The minimum investment is just $100.

Capital One Investing

Formerly ShareBuilder, Capital One Investing offers a full range of trading services. In addition to online trading, it also offers managed portfolios. While its fees are generally reasonable, its managed portfolios require a $25,000 minimum investment and charge 0.90% of assets under management. Due to the fees, we don’t recommend Capital One Investing’smanaged portfolio.

Capital One Investing Summary:

Trade Stocks: $6.95 flat fee
Trade Options: $0.75 + $6.95 base
Margin Rates:5.20% to 8.20%
Mutual Funds: $0 or $19.95
Bonus: Up to $600 based on the amount of deposit

Merrill Edge

Merrill Edge is one of my favorite platforms. In addition to online DIY investing, they offer a managed portfolio. You can invest with an advisor, if you so choose. And the website is incredibly easy to use.

Managed portfolios require a $5,000 minimum and cost 0.45% of assets under management. While this fee isn’t the lowest, it’s reasonable for those looking for some extra help.

Trade Stocks: $6.95 flat fee
Trade Options: $0.75 + $6.95 base
Margin Rates:5.50% to 9.625%
Mutual Funds: $0 or $19.95
Bonus: Up to $600 based on amount of deposit

How Much Will You Pay To Buy And Sell Equities Online

All of the firms make a point to advertise how much you pay to buy or sell stocks, mutual funds, options, or other equities. Today most trades at discount sites run from about $2.50 to $12 per trade. The key to remember, however, is that many of these firms charge additional fees, depending on how you use your account. These additional fees may include fees for large buy or sell orders, fees to buy or sell stocks trading at less than $1, account maintenance fees, account inactivity fees, and of course interest if you buy on margin.

Because these fees vary among discount brokers, the starting point is to understand how you will use your stock trading account. Will you trade frequently or just once or twice a month (or quarter)? Do you want to set up an automatic investment plan? Will you be buying stocks and mutual funds, or do you also plan to trade options? The answers to these questions will help you narrow the selection and ultimately pick the best broker for you investing needs.

Factors To Consider Other Than Cost

But just like most anything we buy, the cost is just one of many factors to consider. And the same is true when selecting a discount broker. So what are the factors besides cost that we should consider when selecting a discount stock broker? There are several, and they include ease of use, customer service, types of accounts offered, investing tools, type of investments you intend to buy, and account minimums. I’ve highlighted these and other factors below in the summary of the best online discount brokers. But just like cost, it’s important to know your investing goals when you evaluate your options. For example, account minimums may be a non-issue for you if you plan to invest a significant amount of money. Likewise, if you are looking for a specific account time (like an IRA), you can quickly eliminate those discount stock brokers that do not offer that account type.

Discount Broker Consolidation

Several brokers have acquired other online trading platforms. Ally Invest was previously TradeKing, until the online bank purchased the broker in 2016. TD Ameritrade has entered into an agreement to purchase Scottrade. E*TRADE acquired OptionsHouse.

The flurry of acquisitions has left the industry in a state of flux. How smoothly will customer accounts transfer to their new home? How will the loss of competition in the space affect fees and features?

Time will tell. As the dust settles, we’ll continue to update this list.

Rob Berger is the founder of Dough Roller and the Dough Roller Money Podcast. A former securities law attorney and Forbes deputy editor, Rob is the author of the book Retire Before Mom and Dad. He educates independent investors on his YouTube channel and at RobBerger.com.

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Source: doughroller.net

Apache is functioning normally

December 3, 2023 by Brett Tams

Looking to start your own business? You’re not alone. Some 76% of Gen Z and millennials dream of being their own boss, according to a 2022 Microsoft report.

While launching your own business allows you plenty of professional freedom, it can also be expensive. As you’re creating your business plan, one question you’ll likely face early on is, how much does it cost to start a business?

The average small business owner spends around $40,000 in their first full year. But that amount can vary based on a number of factors, including the size, type and location of your business.

Let’s take a closer look at the startup costs of different types of businesses and common ways to cover the expenses.

Typical Small Business Startup Costs

The old adage is true: You have to spend money to make money. And unfortunately, some of the biggest business costs can come during the startup phase, when you are defining your business goals, finding a location, purchasing domain names, and generally investing in the infrastructure.

In order to make sure your business is on firm financial footing, it’s important to estimate your small business startup costs in advance. Here are some common ones to keep in mind:

Payroll

Many small businesses start out as a company of one. But if you’re planning on having employees, salary will likely be one of the biggest costs you’ll have. After all, offering an attractive pay and benefits package can help you recruit and retain top talent.

In addition to wages, you might also want to budget for other types of payroll costs, such as overtime, vacation pay, bonuses, commissions, and benefits.

Office Space

No matter what your business is, you’ll need somewhere to work. Are you leasing a storefront, or will you buy a membership to a co-working space or startup incubator? If you’re planning to work from home, consider whether your new business will increase your internet or utility bills.

And don’t forget about the supplies you’ll need to do the work. Depending on your business, this could include things like computers, phones, chairs and desks, paper supplies, or filing cabinets.
💡 Quick Tip: Some lenders can release funds as quickly as the same day your loan is approved. SoFi personal loans offer same-day funding for qualified borrowers.

Inventory

If you’re starting a business that sells products, you’ll need to have some inventory ready to go. Calculating stock as part of your start-up costs ensures that you can buy your product in advance, so that you’re ready to serve customers from day one.

Licenses, Permits, and Insurance

Some businesses, especially storefronts and restaurants, require more legal leg work than others.

For example, if you’re starting a native-plants landscaping business, will you need a permit? If you’re starting a new bar, will you need a liquor license? Licenses and permits vary by city and state, but most come with an application fee.

Likewise, your new business may require one or more insurance policies to protect you in case of future litigation, so be sure to factor in the cost of monthly premiums.

And don’t forget about the costs associated with registering your business. Whether you plan to set up shop as a sole proprietorship, corporation, limited liability corporation or other business entity, you’ll need to pay a nominal fee. The amount will depend on the state where you operate.

And if you plan on enlisting the help of a lawyer, accountant or tax professional to get your business up and running, add those potential costs to your budget as well.

Advertising

Getting the word out about your new business is one of the most important things you can do to ensure that business starts off strong. Whether you want to advertise on social media or take out a billboard, your startup costs should reflect money you plan to put toward taking out ads for your business.

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Differences in Startup Costs Based on Industry

The actual cost of starting a small business can vary by business and industry. Here’s what you might be looking at if you want to start a few common types of small businesses.

Online Business Startup Costs

Like brick and mortar stores, the cost of doing business online varies depending on the type of business you have. But in general, you’ll need to budget for things like:

• Web hosting service and domain name

• Web design and optimization

• E-commerce software

• Payment processing

• Content creation and social media

If you’re selling products, you will need to invest in inventory and shipping. If you’re providing services, you may need to hire employees. All of these costs can be significant.

However, one benefit of starting your small business online is that you may be able to keep other costs low. For example, if you can conduct business from home, you may not need to rent office space, which can be a major savings. If you’re able to do the work without purchasing inventory or hiring employees, the startup costs can be even lower.

Average startup cost: $500 to $20,000 or more (depending on your business)

Storefront Startup Costs

If your business idea requires a physical space, your startup costs might range from $1,000 for a small kiosk inside a mall or park to more than $69,000 for something like a home goods store.

Although $69,000 might seem like a daunting number, remember that many smaller, independently owned stores began with a much smaller budget.

Average retail startup cost: $39,210

Restaurant Startup Costs

If you’re betting on bringing in bank by selling your grandma’s famous bánh mì, you could be looking at startup costs of anywhere from $40,000 for a used food truck or cart to up to $3.7 million to buy a franchise restaurant. Typically, small restaurant costs, including coffee shops, fall somewhere in the $80,000 to $3000,000 range.

Average startup cost: $375,000

How to Finance Your Startup Business

Many who want to start a business are overwhelmed by the initial costs, but there are several ways to fund your passion project.

Friends and Family

Perhaps one of the most common ways to raise money for your small business is to ask friends and family to invest in you.

Friends and family loans can be ideal for financing a new small business because you can negotiate low-interest rates, flexible pay-back schedules, and avoid bank fees. Of course, borrowing money from friends and family can quickly become complicated by family drama, so make sure to agree on conditions before taking out a family loan.

Outside Investors

When we hear about startup companies, we frequently hear about so-called “angel investors” sweeping in to fully fund new businesses. But there are other practical ways to fund your small business with outside investors.

Some small businesses use crowdfunding platforms to find investors who each contribute a small amount, and others use startup funding networks to find investors looking to fund their specific type of business. Outside investors want to know that your business is likely to succeed, so you’ll need a solid business plan to land outside funders.

Personal Savings and Investments

Most people end up covering some of their small business start-up costs out of their own pocket. Self-funding your new business venture can be the most convenient option. After all, if you’re your own funder, you don’t have to worry about family drama or picky investors. And putting your own money on the line can be an extra motivation to make sure that your business is set up to succeed.

Of course, it can seem overwhelming to save up enough money to fund your small business. Luckily, there are simple strategies to effectively manage your money.

Business Loans

If you’re looking to purchase equipment, inventory, or pay for other business expenses, a business loan might make sense for you.

There are various types of small business loans available, each with different rates and repayment terms. Note that in some cases, lenders may be reluctant to give loans to a brand-new business. You might need to put up some type of collateral to qualify for funding.

Personal Loans

A personal loan can be used for just about any purpose, which can make it attractive for entrepreneurs who want to turn their passion project into a reality. These loans are usually unsecured, which means they’re not backed by collateral, like a home, car, or bank account balance.

Personal loan amounts vary. However, some lenders offer personal loans for as much as $100,000. Most personal loans have shorter repayment terms, though the length of a loan can vary from a few months to several years.

While there’s a great deal of latitude with how you use the funds, you might need to get your lender’s approval first if you intend on using the money directly for your business.
💡 Quick Tip: Before choosing a personal loan, ask about the lender’s fees: origination, prepayment, late fees, etc. One question can save you many dollars.

The Takeaway

Going into business for yourself can be personally and professionally fulfilling. But it can also be expensive, especially if you’re starting from scratch. Estimating your startup costs early on can help ensure you’re on solid financial ground from the get-go. Labor, office space, and equipment are among the biggest expenses facing many entrepreneurs, but there are smaller fees and charges you’ll likely need to consider.

Fortunately, small business owners have no shortage of options when it comes to covering startup costs. Dipping into personal savings, or asking friends and family to invest are popular choices. Taking out a business loan or personal loan is another way to help finance a new business. The money can be used for a variety of purposes, and that flexibility can be especially useful when you’re just starting out.

Think twice before turning to high-interest credit cards. Consider a SoFi personal loan instead. SoFi offers competitive fixed rates and same-day funding. Checking your rate takes just a minute.

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SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.

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SoFi members with direct deposit activity can earn 4.60% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. Direct Deposit means a deposit to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government 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, do not constitute Direct Deposit activity. There is no minimum Direct Deposit amount required to qualify for the stated interest rate.

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 http://www.sofi.com/legal/banking-rate-sheet..

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

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Source: sofi.com

Apache is functioning normally

December 3, 2023 by Brett Tams

San Antonio is the second-largest city in Texas by population and the seventh-largest city in the United States. The city has been a popular living option because of its abundant activities, rich history, green spaces and trails and affordability. If you’re planning on moving into the Military city, here are we found the best apartments in San Antonio for you.

Photo source: Tara Apartments / Rent.

This newly-renovated Alamo Heights community contains one- to three-bedroom units starting in the low $800s. Apartments are sleek and modern, featuring quartz countertops and stainless-steel appliances.

Residents enjoy a plethora of community amenities, including basketball and tennis courts, a children’s playground, a swimming pool and on-site laundry facilities. These amenities make it one of best apartments in San Antonio.

Photo source: Pure View at TPC / Rent.

An excellent location and modern style collide at Pure View at TPC. In addition to being minutes from the famous JW Marriott San Antonio Hill Country Resort & Spa, Pure View at TPC offers luxury amenities such as in-unit garden tubs and a resort-style on-site pool.

Residents can enjoy a tanning area, a Starbucks Wi-Fi lounge, game rooms and a fitness center. If you’re concerned about security, you’ll be relieved to know that this complex is also a limited-access gated community.

Photo source: Alamo Park / Rent.

With its convenient proximity to the lively Alamo Heights area of the city, Alamo Park offers a stellar location with the living space you need to live comfortably.

At this apartment, you’ll also find two swimming pools, a dog park, a sand volleyball court and pavilion and barbecue picnic areas for when you want to enjoy the many days of San Antonio sunshine.

Photo source: The Valencia on Four 10 / Rent.

In addition to its stellar location near Loop 410 and Lackland Air Force Base, Valencia on Four 10 provides everything you could need on-site, including a spa, fitness center, hot tub, two swimming pools, tennis court and laundry facilities.

The units range from a 722-square-foot one-bedroom to 1,454-square-foot two-bedroom apartments, so whichever option you choose, you’ll have plenty of space to relax.

Photo source: Vineyard Springs / Rent.

Vineyard Springs offers resident amenities such as valet trash, poolside Wi-Fi, a theatre and putting green, just to mention a few. If you find your wardrobe overflowing these days, the Vineyard also boasts oversized closets.

Even with these amenities, rent prices are very affordable, starting in the low $800s, making it an excellent value.

Photo source: Villa de Valencia / Rent.

Villa de Valencia is conveniently off Interstate 35, which can take you anywhere in the city. This is a bonus and why it makes our best apartments in San Antonio list.

In addition to the on-site children’s playscape, the community is pet-friendly and offers some paid utilities included in the rent total. The community is also currently under renovations, so future residents can look forward to newly-upgraded units.

Photo source: Apartments at Westover Hills / Rent.

With rents starting at $712 a month, the Apartments at Westover Hills offer excellent amenities at a great value. This pet-friendly community boasts a jogging trail, pet park, fitness center and an outdoor cooking area.

Lastly, units range from one to three bedrooms, so there are plenty of options depending on the amount of living space you need.

Photo source: The Place at Houston Street Townhomes / Rent.

The Place at Houston Street is a townhome community with five different floor plans and a long list of community amenities. The community is pet-friendly and close to public parks, giving you plenty to do in the area with your furry friends. There is a playscape for the kids, full-size garages for your vehicle and guest parking for your visitors.

If you enjoy apartment living but crave a little more space, this is a great option.

Photo source: Broad Viewe / Rent.

Starting in the mid-$600s, Broad Viewe is a pet-friendly community featuring in-unit amenities such as built-in bookshelves and butcher-block countertops. Within this community, you’ll also find newly renovated laundry facilities, an inline skating track and a large playground for the kids.

When you’re ready to soak up some sunshine, enjoy one of the two pools or barbecue at one of the picnic areas. The amenities combined with the modest rent prices make it a truly excellent value.

Photo source: Apartments at the Medical Center / Rent.

If you’re looking for an apartment in the heart of the Medical Center, look no further.

The Apartments at the Medical Center range from one- to three-bedroom units with amenities such as granite countertops, a resort-style pool, a clubhouse and tennis courts. Residents also enjoy gated access in this pet-friendly community.

Photo source: Costa Dorada / Rent.

Relax in the hot tub or venture out to the clubhouse as a resident at Costa Dorada. The community is on SE Military Drive, a major roadway close to shopping, food and the historic San Antonio Missions Park.

Plus, the community also features limited-access gates, providing extra security for residents.

Photo source: Stone Oak / Rent.

Luckily, the Stone Oak area is known for its abundant shopping and new development, and the location of the Apartments at Stone Oak allows you to stay right in the middle of all of the action. This luxury complex offers in-unit garden tubs, oversized closets and vaulted ceilings.

Residents can also enjoy on-site tennis courts, a recreation room, a fitness center and a media center, too.

Photo source: Apartments at University Heights / Rent.

Located minutes from Six Flags Fiesta Texas, the Apartments at University Heights are in an excellent location for theme-park enthusiasts.

Even if you don’t feel like venturing out, the community offers resident amenities such as basketball courts, a fitness center, a playground and a swimming pool. In addition to the on-site offerings, the units also feature garden tubs, oversized closets and hardwood floors.

Photo source: The Place at Castle Hills / Rent.

If high ceilings are on your wish list, the Place at Castle Hills features 9-foot ceilings and crown molding. The community offers a greenbelt and walking trail in conjunction with a swimming pool, fitness center and business center for resident use.

Additionally, it’s also close to I-10 and I-410, making the daily commute easier.

Photo source: Ventura Ridge / Rent.

Work-from-home employees will love Ventura Ridge, which features AT&T fiber internet. If you find yourself getting stir crazy during the workday, Ventura Ridge also offers an expansive outdoor area with amenities such as a resort-style pool, a fitness center and a clubhouse with multi-screen televisions for residents to enjoy. All in all, that’s a deal when working remote these days.

In fact, Tthe location provides easy access to I-10 and Loop 1604, so even commuters will find their niche in this modern community. Rents start at a little over $1,000, making luxury affordable.

Photo source: Oak Valley Apartments / Rent.

If you’re looking for a pet-friendly affordable housing option, Oak Valley Apartment Homes are income-restricted units close to I-35.

There is no shortage of amenities. This gated community offers a fitness center, a swimming pool, a business center, a community clubhouse, on-site laundry facilities and a children’s playground.

Photo source: Gateway Residents / Rent.

The Gateway Residences at Port San Antonio is a townhome community with unit options ranging from two to four bedrooms. The community displays large greenspace areas, which pair nicely with pet-friendly policies.

Located just minutes from the hustle and bustle of downtown San Antonio, the location of this community is excellent for those wanting to explore the city with easy access to the amenities that downtown has to offer.

Photo source: Alamo Heights / Rent.

Affordable luxury starts at $833 a month at the Apartments at Alamo Heights. This gated community’s amenities include a hot tub, running and biking trails, a pet park and a fitness center.

Not to mention, the location of this community puts you in the middle of the desirable Alamo Heights neighborhood, which is close to downtown and landmarks like the San Antonio Zoo.

Photo source: The Meadows at Bentley Drive / Rent.

If you’re looking for something on the east side of San Antonio, The Meadows at Bentley Drive is an excellent choice.

Located in the middle of east San Antonio near Randolph Air Force Base, the complex offers a barbecue pit, on-site laundry, a community clubhouse with a full kitchen and a children’s playground.

Photo source: Woodlake Trails / Rent.

The large three- and four-bedroom units at Woodlake Trails balance extra space with an excellent location.

Located 20 minutes from downtown San Antonio, this community offers spacious three- and four-bedroom homes surrounded by trees and greenspace. It also features a pool, a clubhouse and a children’s playscape.

Photo source: Woodlake Villas / Rent.

If cathedral ceilings appeal to you, take a look at Woodlake Villas. This East San Antonio community is newly renovated, with one- and two-bedroom units within driving distance of everything the city offers.

On the other hand, if you prefer to take the bus, the community is close to public transportation options too.

Photo source: The Enclave at Buckhorn Crossing / Rent.

Starting at just $720 a month, The Enclave at Buckhorn Crossing balances value with amenities. One- to three-bedroom units feature built-ins such as book shelving, computer desks and entertainment centers.

The community amenities are great, too. They include a heated spa, a sand volleyball court and a swimming pool with a wading area. This pet-friendly place even has a dog ranch.

Photo source: Village at Roosevelt Apartments / Rent.

In all honesty, if you find yourself wanting to live within a stone’s throw of Downtown, the Village at Roosevelt Apartments is ideal.

This gated community has a playground, a laundry facility and a business center available for residents. It also features bike storage, which is perfect if you intend to hit the various nearby bike trails.

Photo source: Military Village Apartments / Rent.

For those who commute to Lackland Air Force Base, the Military Village Apartments provide an excellent location. This pet-friendly community features upgraded fixtures, wood plank flooring and open kitchens with plenty of counter space.

This community is also close to shopping at Ingram Park Mall and has easy access to Loop 410.

Photo source: Culebra Creek Apartments / Rent.

Located on the west side of the city, Culebra Creek Apartment Homes offer units with one to four bedrooms featuring oversized closets and fully-appointed kitchens. Since this is a modern community, expect bike racks, a covered picnic pavilion, a children’s playground and a swimming pool.

Starting in the mid-$700s, it offers great value combined with spacious units.

The Best Apartments in San Antonio

Finding a great place to live in San Antonio doesn’t need to get complicated. If you’re ready to move, get started and find apartments for rent in San Antonio.

Furthermore, we looked at all available multifamily rental property inventory from January to June 2021 on Rent. to determine which properties with a San Antonio mailing address are most viewed by organic internet searches. The information included in this article is used for illustrative purposes only. The data contained herein does not constitute financial advice, availability, or a pricing guarantee for any apartment.

Source: rent.com

Apache is functioning normally

December 2, 2023 by Brett Tams

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