Inside: The Penny Challenge is an easy way to save money every day. By making small contributions of pennies each day, you can easily save hundreds of dollars. Plus a free printable!
Mastering the art of saving can be quite daunting, particularly for individuals living paycheck to paycheck. The idea of setting aside large sums of money daily might seem intimidating, leading to inertia and a lack of progress in saving attempts.
However, the Penny Challenge creates a refreshing approach to saving. You are saving pennies!
Thus, it takes away the pressure of dealing with large figures, making the saving process more accessible and manageable. Starting with as little as a penny a day, this challenge silently builds a savings habit and a more positive money mindset.
Rather than feeling overwhelmed, you gain slow and steady momentum in your saving journey, eventually accumulating a significant sum of $667.95 in 365 days. This subtle method of saving demonstrates that even slight changes in financial behavior can lead to impactful results.
The simplicity of the Penny Challenge is its greatest strength, making it an efficient and easy way to kickstart your savings journey.
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 the Penny Challenge?
The Penny Challenge is a delightful saving endeavor that begins with saving just one penny on the first day. The idea is to incrementally increase your savings by one more penny every day.
So, on day two, you save 2 pennies, on day three, 3 pennies, and so on. By the end of the year, on day 365, you’d save $3.65.
All adds up to a substantial $667.95 by the end of the 365 days!
History and Popularity of Penny Challenge
The Penny Challenge, while not heavily documented, appears to have its roots prior to social media where people started sharing it as an easy and fun way to save. It rapidly gained popularity because of its simplicity and the significant accumulation of savings from mere coins.
Today, people from all walks of life participate in Penny Challenges, tracking their progress and sharing their successes online. It’s not only popular among individuals but also families, helping children understand the concept of saving.
How the Penny Challenge Works
Around here at Money Bliss, we have plenty of money saving challenges to install habits of saving money.
The Penny Challenge is a suitable strategy for beginners, and even seasoned savers, making a significant impact on one’s back account by the end of the year with over six hundred dollars with just pennies.
Daily Contributions: Saving a Penny a Day
The core of the Penny Challenge is rooted in daily contributions.
Starting with one cent on the first day, you’ll boost your savings by an additional penny each day.
This means you’ll end up with three cents on the third day, four cents on the fourth, and so on. Remember, each penny is a stepping stone to building your wealth, so no amount is too small to fit in your piggy bank.
This habit-building exercise is particularly beneficial for those just starting out or anyone looking to make the most of their loose change.
Penny Challenge Chart in Action
Day
Penny Savings
Balance
Day 1
$0.01
$0.01
Day 2
$0.02
$0.03
Day 3
$0.03
$0.06
Day 4
$0.04
$0.10
Day 5
$0.05
$0.15
Day 6
$0.06
$0.21
Day 7
$0.07
$0.28
Day 8
$0.08
$0.36
Day 9
$0.09
$0.45
Day 10
$0.10
$0.55
Don’t be fooled! Pennies add up over the course of the year!
Monthly Contributions: An Alternative Approach
If daily contributions seem daunting or easily forgettable, consider the alternative monthly approach. Instead of saving each penny per day, you can make a lump sum deposit each month equivalent to the total you’d save daily.
For instance, in January you’d put away $4.96, in February $12.74, and so forth. This approach lessens the daily burden and keeps your saving habit on track.
Month
Penny Savings
Balance
January
$4.96
$4.96
February
$12.74
$17.70
March
$23.25
$40.95
April
$31.65
$72.60
May
$42.16
$114.76
June
$49.95
$164.71
July
$61.07
$225.78
August
$70.68
$296.46
September
$77.55
$374.01
October
$89.59
$463.60
November
$95.85
$559.45
December
$108.50
$667.95
If you like simplicity and want to start on any month, this approach is for you! The assumption is you save for 30 days regardless of the number of days in the month.
Month
Penny Savings
Balance
Month 1
$4.65
$4.65
Month 2
$13.65
$18.30
Month 3
$22.65
$40.95
Month 4
$31.65
$72.60
Month 5
$40.65
$113.25
Month 6
$49.65
$162.90
Month 7
$58.65
$221.55
Month 8
$67.85
$289.20
Month 9
$76.65
$365.85
Month 10
$85.65
$451.50
Month 11
$94.65
$546.15
Month 12
$103.65
$649.80
Raisin
Simply select one of the high-yield savings products offered by their network of federally insured banks and credit unions to begin your savings journey.
You can open a free Raisin account in just a few minutes!
Compare Rates
Penny Challenge Variations
Great news! There are plenty of ways to maximize your savings deposit with one of the advanced strategies.
Modified Versions of the Penny Challenge: 26 Week and 52 Week Challenges
For those who wish to tweak the Penny Challenge to fit their lifestyle better, there are modified versions such as the 26 Week and 52 Week Challenges. Many people prefer this as they are paid on a biweekly basis for budgeting.
For the 26 Week variation, you’d start with the max you would save which is $3.65 on week one, and decrease the saving amount by one cent every subsequent week, ending with $95.04k.
Similarly, the 52 Week variation begins with saving 3.65 on week one and ends with $3.13 on the 52nd week. Thus, saving $179.67.
These modifications are ideal for shorter time frames or lower savings targets.
Reverse Penny Challenge & its Benefits
The Reverse Penny Challenge works in the opposite direction to the traditional method. It starts by putting away $3.65 on day one and then decreases the amount by one penny each day.
The primary benefit of this approach is that it gets the more significant amounts out of the way early. For some, this method might be more digestible, and it can be particularly beneficial for those who find their finances tighter towards year-end.
All of our reverse money saving challenges are extremely popular since you may lose motivation to the end or other unexpected expenses pop up.
Coffee Habit Backwards Reward Challenge
Let’s be honest… most of these savings amounts are less than your cup of coffee at Starbucks or your Amazon order.
So, on those days you choose to spend money on coffee or a just-because purchase, then you must deposit the same amount into your penny challenge funds!
It’s just pennies, right?!?!
Other Popular Money Saving Challenges:
Grow your savings account with one of the other popular money savings challenges!
Acorns
Invest spare change, invest while you bank, earn bonus investments, grow your knowledge and more.
Every purchase you make means an opportunity to invest your spare change! So coffee for $3.25 becomes a $0.75 investment in your future.
Get Started
Penny Challenge Free Printable
Downloading the free printable penny saving challenge is a beneficial next step!
To access the free printable, you must subscribe to our email list. Then, you will be emailed the password to our free library – full of many printables to help you on your money journey.
FAQs about the Penny Challenge
By participating in the Penny Challenge and putting one penny in a jar every day, increasing the amount by a penny daily, you would end up with $667.95 at the end of the year.
It’s a simple yet effective way to accumulate a substantial amount from seemingly insignificant daily contributions.
If you were to save exactly one penny each day for a year without increasing the amount, you would end up with just $3.65 at the end of the year.
In contrast, the Penny Challenge’s incremental daily savings can significantly boost to a handsome $667.95 a year.
Every Penny Counts: Significance of Small Savings
While a penny might seem insignificant, the Penny Challenge proves that even the smallest denominations can cumulate into a significant sum.
This challenge reinforces the age-old adage, “A penny saved is a penny earned.” Teaching us that regularity and persistence in saving, regardless of the amount, can make a meaningful impact. It’s a testament to the potency of small daily habits in shaping your financial future.
Diving headfirst into the world of saving can often seem daunting, but any type of challenge makes it approachable and fun.
Seeing the Penny Challenge through to the end provides more than just financial gains; it instills a powerful habit of saving and exhibits the enormous potential of minor daily contributions. Upon reaching your savings goal, not only will you feel a sense of accomplishment, but your brain will also crave the repetition of this gratifying experience, motivating you to save more and tackle larger financial goals.
Remember, the journey of a thousand miles begins with a single cent!
Check out these mini savings challenges!
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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.
The Bilt World Elite Mastercard® Credit Card is best known for its unique standout feature: the ability to earn rewards with no transaction fee when paying rent. Indeed, the Bilt credit card is a game-changer for renters. Beyond rent, though, how does Bilt compare with a more traditional general-purpose credit card like the Wells Fargo Autograph℠ Card?
Both cards carry no annual fee. They both earn 3 points per $1 spent on dining, offer cell phone protection and certain travel protections, plus charge no foreign transaction fees. But in most other respects, the benefits of these two cards couldn’t be more different.
The Wells Fargo Autograph℠ Card offers a compelling sign-up bonus and introductory APR, while the Bilt World Elite Mastercard® Credit Card offers neither. But the Bilt credit card, along with its most obvious benefit for renters, earns points that can be transferred to various hotel and airline travel partners, giving the potential for outsize value. Currently, the Autograph offers no such transfers.
Let’s dig into the specifics of each card so you can make the right pick for your lifestyle.
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.
How the cards compare
Bilt World Elite Mastercard® Credit Card
Wells Fargo Autograph℠ Card
Annual fee
Sign-up bonus
Limited Time Offer: Earn 30,000 bonus points when you spend $1,500 in purchases in the first 3 months – that’s a $300 cash redemption value.
Rewards
3 points per $1 spent on dining.
2 points per $1 spent on travel.
1 point per $1 spent on rent (up to 100,000 points annually).
1 point per $1 spent on all other purchases.
3 points per $1 spent on restaurants.
3 points per $1 spent on travel, transit, gas stations and EV charging stations.
3 points per $1 spent on popular streaming services and select phone plans.
1 point per $1 spent on all other purchases.
APR
See Terms.
0% intro APR on Purchases for 12 months from account opening, and then the ongoing APR of 20.24%, 25.24%, or 29.99% Variable APR .
Foreign transaction fee
Still not sure?
Why the Bilt World Elite Mastercard® Credit Card is better for renters and travelers
Pay rent with a credit card
The Bilt World Elite Mastercard® Credit Card‘s standout feature is its ability to earn rewards on rent payments without any transaction fees. That’s a unicorn in the credit card world, as most cards can’t be used directly toward rent payments without such fees. Previously, renters looking to pile up credit card rewards relied on intermediary services like Plastiq, whose high fees cut into any rewards earned.
Though the benefit caps out at 100,000 points per year, this still makes the Bilt World Elite Mastercard® Credit Card the obvious choice for renters looking to get more out of their biggest monthly expense. Even if you don’t live in a property that’s part of the Bilt network, you can still charge rent on the card (with no transaction fees) and they’ll mail a check to your landlord.
Transfer to travel partners
Both cards earn points, but only points earned from the Bilt World Elite Mastercard® Credit Card have the potential for higher value toward travel. Points earned from the Wells Fargo Autograph℠ Card are worth 1 cent each and can be redeemed for travel, gift cards or statement credits — or when checking out online with PayPal.
Bilt Points are also versatile and can be used toward rent, fitness classes, home decor and even a home downpayment, for varying value. But as a card with no annual fee, the Bilt World Elite Mastercard® Credit Card stands out for its ability to transfer points at a 1:1 ratio to a wide range of travel partners. Travelers often find greater value than 1 cent each for their points when they transfer this way.
This is a rare perk among no-fee cards, most of which require pairing with a higher-fee card to transfer points. For example, Chase Freedom Flex℠ cardholders can transfer points to travel partners only if they also carry a higher fee card like the $95-annual-fee Chase Sapphire Preferred® Card.
Plus, Bilt’s list of travel partners is excellent, including American Airlines, United, Hyatt and IHG. In fact, despite American Airlines issuing co-branded credit cards with both Citibank and Barclays, neither issuer allows transfers of its points to the airline. Here’s a look at the full list of available transfers:
Full list of Bilt transfer partners
Aer Lingus (1:1 ratio).
Air Canada (1:1 ratio).
Air France (1:1 ratio).
American Airlines (1:1 ratio).
British Airways (1:1 ratio).
Cathay Pacific (1:1 ratio).
Emirates (1:1 ratio).
Hawaiian Airlines (1:1 ratio).
Hyatt (1:1 ratio).
Iberia Airlines (1:1 ratio).
IHG (1:1 ratio).
Marriott (1:1 ratio).
Turkish Airlines (1:1 ratio).
United (1:1 ratio).
Virgin Atlantic (1:1 ratio).
Bonus points in several categories, with an extra boost on “Rent Day”
Beyond rent payments, the Bilt World Elite Mastercard® Credit Card earns solid rewards on a variety of everyday expenses. That includes 5x points on Lyft rides, 3x points on dining, 2x points on travel and 1x on all other purchases.
But Bilt’s biggest benefit to cardholders comes on the first day of each month, when point values double for all nonrent categories, up to a cap of 10,000 bonus points per month. On that day, Bilt World Elite Mastercard® Credit Card holders earn 6x points on dining, 4x on travel purchases and 2x on everything else.
Why you may prefer the Wells Fargo Autograph℠ Card
Snag a sign-up bonus
Like many more traditional rewards credit cards, the Wells Fargo Autograph℠ Card greets new users with an attractive new cardholder bonus: Limited Time Offer: Earn 30,000 bonus points when you spend $1,500 in purchases in the first 3 months – that’s a $300 cash redemption value.
The Bilt World Elite Mastercard® Credit Card, on the other hand, offers no bonus for new cardholders, meaning it will take longer to rack up the same level of rewards.
Pay over time with 0% introductory APR
The Wells Fargo Autograph℠ Card is also the better pick for cardholders who need to finance purchases over time. Currently, new cardholders will get 0% intro APR on Purchases for 12 months from account opening, and then the ongoing APR of 20.24%, 25.24%, or 29.99% Variable APR .
Since the Bilt World Elite Mastercard® Credit Card doesn’t offer an introductory interest rate, it’s a less attractive choice for cardholders who need some breathing room on interest.
Earn higher rewards on travel, gas stations and streaming services
Both cards earn 3x points at restaurants, but the Wells Fargo Autograph℠ Card wins by a nose on travel purchases, earning 3x points per $1 spent compared with 2x with Bilt.
The Autograph also earns 3x points on certain popular streaming services and phone plans. Bilt’s baseline earnings rate for these categories is just 1 point per $1 spent — but you can bump that up to 2x points per dollar by setting these recurring bills to be charged on the first of every month.
When it comes to fueling your vehicle, though, the Autograph really races ahead on rewards, earning 3x points at gas stations and EV charging stations. For comparison, the Bilt World Elite Mastercard® Credit Card earns a modest 1 point per dollar spent in these categories.
Potential tie-breakers
Still can’t decide which card is right for you? Here are a few minor points of distinction to consider.
Simplicity of earning rewards
A major downside of the Bilt World Elite Mastercard® Credit Card is its transaction requirement. According to the card’s terms, you must complete five transactions per billing period to earn any rewards. That means if you only make four transactions on the card one month, you won’t earn rewards on any of those purchases. There’s no minimum spend per transaction, but this does present an extra hoop to make sure you maximize your rewards.
The Wells Fargo Autograph℠ Card won’t earn you rewards on rent, but it also doesn’t include any such complicated requirements.
Metal vs. plastic
If you have strong preferences about the feel of the card, it’s worth noting that the Bilt World Elite Mastercard® Credit Card comes in a sleek metal design, adding some sophistication to your wallet. The Wells Fargo Autograph℠ Card is plastic, making it a lighter weight to carry.
Which card should you get?
The distinction here is pretty clear. If you’re a renter, the Bilt World Elite Mastercard® Credit Card is the obvious choice. No other card offers comparable rewards on rent payments, and the card’s additional rewards plus travel partners make it a good value on everyday spending as well.
Not a renter? The Wells Fargo Autograph℠ Card will provide more overall value on everyday spending.
Then again, given that both cards carry no annual fee, renters with good credit may choose to pick up one of each. Use the Bilt World Elite Mastercard® Credit Card for rent, Lyft rides and to pick up extra rewards on the first day of each month. For the rest of the month, the Wells Fargo Autograph℠ Card will earn you higher rewards in most categories, along with a strong intro APR and sign-up bonus.
This KashKick Review will help you figure out if this rewards site is worth your time or not. KashKick is a rewards platform where you can get rewards for doing things like answering questions and playing games online. You can then turn these rewards into real money through PayPal. To really get how KashKick works,…
This KashKick Review will help you figure out if this rewards site is worth your time or not.
KashKick is a rewards platform where you can get rewards for doing things like answering questions and playing games online. You can then turn these rewards into real money through PayPal.
To really get how KashKick works, it’s important to know all the details. This means knowing what to do from the start, like signing up and getting your money.
Continue reading this KashKick Review to learn more.
Please click here to sign up for KashKick for free.
Key Takeaways
KashKick is an easy way to earn extra cash online through surveys and playing games.
KashKick pays via PayPal cash.
They have games such as Monopoly GO, Yahtzee, Bingo Blitz, Scrabble Go, and more where you can make $100+ per game.
They also have a referral program where you can refer your friends and family to their site and earn 25% of their lifetime earnings.
This is a free site to join.
What is KashKick?
KashKick is a GPT (get paid to) rewards site, which means that there are lots of different ways to get paid on this platform.
It’s aimed at giving you an opportunity to earn some extra cash, and this platform rewards you for completing different tasks. These tasks include taking surveys, signing up for apps, and even trying out new products and services.
They have a PayPal cash-out option with a minimum payout threshold of $10. This makes the platform a good option if you’re looking to supplement your income without spending too much of your time and energy.
Recommended reading: 21 Best Free Surveys That Pay Cash Instantly
How to Make Money on KashKick
KashKick is a money making app with many different ways to make money. Some different ways include:
1. Take surveys
One of the top ways to earn on KashKick is by answering surveys.
These surveys are given by different market research companies or brands who are looking for opinions from normal people like me and you. By paying for surveys, these companies can learn how to improve their product, their advertising, and more.
The amount you can earn per survey depends on its length, but they are typically less than 20 minutes long and you will usually earn around $1 to $5 per survey answered. These surveys aren’t hard either – they simply want to know what you truly think!
To make the most of this type of earning opportunity, you should take surveys as much as you can and pay attention to the survey invitations you receive in your email.
Here’s an example of a game you can get paid to play on KashKick.
2. Play games
Another way to make money on KashKick is by playing games.
The platform has partnered with different game developers and companies, allowing people like you to try new games and earn rewards for them.
The reason people get paid for playing games on KashKick is because the site partners with advertisers and businesses who are looking to promote their products or services. By playing these games, you help these advertisers reach a wider audience. In return, KashKick shares a portion of the revenue earned from these games with you. It’s a win-win situation where you get to have fun and earn a little extra money, while businesses get exposure for their ads and games.
There are many different games you can play on KashKick such as:
Monopoly GO
Yahtzee
Bingo Blitz
Scrabble Go
MGM Slots
Solitaire Smash
And so much more.
For example, here’s how you can make money playing Monopoly 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!”
While playing games, it’s important to track your time spent and calculate your earnings potential to make sure your gaming activities are worth the effort. If you find that you’re spending too much time playing games, then it may not be worth it.
3. Reward offers
KashKick has many reward offers, such as paid offers or app installations. To see their offers, you will want to go to the offers section on the KashKick website and you can find the tasks that suit your interests and preferences.
For example, with KashKick Offers, if you register and select your unique $Cashtag, you will get $4. Or, if you link your bank account to Stash and make a qualifying deposit, you will get $50. Another offer is to sign up for an app that gives cash back at the gas station pump, and then you can earn a $15 reward.
There are currently 85 different offers available to me on KashKick, so there are lots to choose from!
Checking the featured offers regularly can really boost how much you can earn. That’s why it’s a good idea to keep an eye on this section for new chances to make money.
4. Referral bonus
KashKick has a nice referral program to encourage you to bring in new members.
When you invite friends or family to join the site, you can earn a referral bonus in the form of a percentage of their lifetime earnings. This not only helps you boost your income but also creates a way to make passive income over time because you won’t have to do anything extra to earn the 25% referral bonus.
If your friend joins using your referral link, you’ll get 25% of the money they make from doing Offers on KashKick.
You can find the referral link by clicking on the money icon in the top right corner when you are logged in. Then click on “Refer a Friend.”
Note: This bonus doesn’t apply to the money they earn from Surveys or Extra$.
5. Extra$
Extra$ are even more ways to earn cash on KashKick. These may be purchases you can make to save money, free trials, and more.
Some of the Extra$ I have available when I log in include:
Try SiriusXM for just $1 for 3 months and earn $6.54
Sign up for Paramount+, try the trial, and earn $0.60
Place your first order with Uber Eats and earn $7.00
There were over 100 of these available on my KashKick dashboard.
6. Sign up bonus
When you first sign up on KashKick, you may be eligible for a sign-up bonus. This bonus is generally offered in the form of cash that can be added to your account balance. There is not currently a KashKick sign-up bonus, but I will let you know when that changes.
How to sign up for KashKick
Signing up for KashKick is an easy process that can be done in just a few steps. Here’s how you can sign up for KashKick:
Click here to sign up for KashKick for free.
Enter your email address and create a password.
Fill out your profile – Next, you will answer some basic information about yourself, such as your age and location. Keep in mind that you must be at least 18 years old to sign up, and you must live in the United States.
Confirm your email address – Once you have entered your information, KashKick will send you a confirmation email that you will have to click on.
And, that’s it!
Now that you’ve successfully signed up for KashKick, you can start earning cash rewards by completing surveys or playing games.
Ways to cash out on KashKick
To cash out on KashKick, you need to reach a minimum earnings threshold of $10.
When you reach the threshold, you can request your payment through PayPal. It’s the only payment method that KashKick has. So, you will want to have a verified PayPal account before you start a KashKick account.
Once you request your payout, it usually takes around 1 to 3 days to receive your payment, which is completely normal.
It’s important to know that accounts are considered inactive after 90 days of inactivity, and earnings in these accounts may be forfeited. So, don’t forget to continuously participate in the platform and cash out before it’s too late.
KashKick reviews
Below are KashKick reviews from websites such as Trustpilot and Reddit.
KashKick Trustpilot reviews
KashKick has a 3.7 out of 5-star rating on Trustpilot, with around 600 reviews.
Of the negative reviews of KashKick, some people were having trouble with accessing their accounts and this led to a negative experience. KashKick did respond to these complaints with a support email to reach out to them.
If you have issues with KashKick, I highly recommend reaching out to their customer support team at [email protected] or reach out to them via their Facebook page.
KashKick reviews on Reddit
Overall, I found many good reviews of KashKick on Reddit. Many people were earning money mainly by playing KashKick games. I found many KashKick reviews on Reddit where users said that they play the games all the time in their downtime and often reach the $100+ payout for the games.
KashKick vs competitors
Wondering how KashKick compares to its competitors? Whether you are looking for another paid survey site or if you want different ways to earn, then I recommend reading the below.
Swagbucks
Swagbucks is a popular rewards platform similar to KashKick. Like KashKick, you can earn points (called SB) by completing tasks such as watching videos, completing surveys, and shopping online. There are many different ways to earn, and Swagbucks is one of my favorite rewards sites. So, I highly recommend joining this one if you haven’t yet.
You can sign up for Swagbucks here. Also, you can read my Swagbucks Review here.
Survey Junkie
Survey Junkie is one of the most popular survey sites. The minimum cash-out threshold is also $10. Survey Junkie is heavily focused on surveys, though, so if you’re looking for different earning opportunities, it might not be the best match.
You can sign up for Survey Junkie here. Also, you can read my Survey Junkie Review here.
InboxDollars
InboxDollars is another online rewards site like KashKick, and it allows you to earn cash by completing tasks such as online surveys, watching videos, and signing up for offers. InboxDollars has a slightly higher cash-out threshold of $15, meaning it might take longer for you to claim your rewards.
InboxDollars pays via PayPal cash, as well as gift cards to places such as Amazon, Apple, Target, Dunkin’ Donuts, Lowe’s, Barnes & Noble, and Gap.
Sign up for InboxDollars here.
Frequently Asked Questions About KashKick
Below are answers to common questions about KashKick.
Is KashKick a legit way to make money?
Yes, KashKick is a legit rewards site where you can earn cash for completing tasks like answering surveys and playing games. They have a low payout threshold of $10 and pay through PayPal, but keep in mind that sometimes it can take a long time to reach the withdrawal minimum.
Does KashKick pay you to watch videos?
At this time, KashKick does not currently have videos that pay you to watch. However, this is a feature that they may add in the future.
How do I sign up for KashKick?
Signing up for KashKick is simple and free. You can sign up here.
Does KashKick have a mobile app?
Yes, KashKick has an app for Android users to download. However, there is not a mobile app for Apple iPhone users yet.
How long does KashKick take to pay?
KashKick payments take around 1 to 3 days.
Can I use an international PayPal account to withdraw my KashKick earnings?
Unfortunately, no. KashKick only allows a valid United States-based PayPal account for payments.
Is KashKick legit or a scam?
KashKick is a real online rewards site that gives you many different ways to make money, such as playing games online, watching videos, signing up for other apps, and answering surveys.
KashKick Review – Summary
I hope you enjoyed this KashKick review.
KashKick is an easy site to use if you want to make some cash in your spare time. Plus, there are many different ways to make extra money – from playing games to answering surveys, and more.
To sum it up, KashKick is a simple website where you can earn rewards in different ways. If you do things like answer surveys, you’ll also benefit from a low amount needed to cash out.
So, why not give it a shot and see if it’s a fit for you!
Please click here to sign up for KashKick for free.
Do you want to become a proofreader? If so, you may be interested in learning about the most popular proofreading course out there – Proofread Anywhere. In this Proofread Anywhere Review, I will help you learn everything that you can about this course so that you can decide if you should take it or not….
Do you want to become a proofreader? If so, you may be interested in learning about the most popular proofreading course out there – Proofread Anywhere.
In this Proofread Anywhere Review, I will help you learn everything that you can about this course so that you can decide if you should take it or not.
Proofreading is an in-demand job where you only need a laptop or tablet, an internet connection, and the skills to get started.
It’s a job where you can work at home or while traveling, and you get to choose your hours.
Learning how to proofread is a valuable skill that can open doors to a successful work-from-home career. Due to the increasing demand for online content, now is a great time to improve your proofreading abilities.
One popular way for improving your skills and starting a proofreading career is by taking the Proofread Anywhere course. In this article, we’ll talk about Proofread Anywhere, looking at what’s in the course, how it’s organized, the support available, and feedback from actual students.
If you’re looking for a quick Proofread Anywhere Review – Yes, I highly recommend taking this course if you are interested in learning how to become a proofreader. This course teaches you everything you need to know – from how to proofread and find mistakes all the way to finding proofreading jobs and building a successful career. The course is continually updated and it comes with lifetime access, which is amazing as well.
10
This free 76-minute workshop answers all of the most common questions about how to become a proofreader, and even talks about the 5 signs that proofreading could be a perfect fit for you.
Key Takeaways
Proofread Anywhere is a comprehensive course that teaches the skills needed to make money proofreading.
The course has an in-depth curriculum and a supportive community to help you succeed.
Many real students have shared positive reviews of their experiences with Proofread Anywhere.
Proofread Anywhere costs $697.
Proofread Anywhere Review
The below Proofread Anywhere Review will mainly be about their General Proofreading course – General Proofreading: Theory and Practice™ (GPTP).
What is proofreading?
Proofreading is the process of reviewing and checking a written document to find and correct errors in grammar, spelling, punctuation, and formatting.
As a proofreader, your job is to make sure a piece of text is clear, concise, and free from mistakes, making it easier for the reader to understand and enjoy.
If you often find yourself catching typos on restaurant menus, in books, on TV, or elsewhere, then this may be a great job to look into.
Recommended reading: 16 Best Ways To Get Paid To Read Books
What is General Proofreading?
General Proofreading is the core course sold by Proofread Anywhere. It focuses on teaching the theory and practice of proofreading various types of documents, from books and blog posts to academic papers.
General proofreaders are in demand across many different industries and can be hired by individuals or organizations. This versatility is what makes general proofreading a valuable skill applicable to a wide range of jobs.
The course aims to equip people with the skills and knowledge needed to start a freelance proofreading career.
What is Proofread Anywhere?
Proofread Anywhere is a company that has online, self-paced courses all about how to become a proofreader and how to start a proofreading business.
The goal is to teach you the skills to start a successful freelance proofreading business from your own home. The courses are made easy to understand, and you don’t need any prior proofreading experience (they will teach you the skills that you need in the course!).
When you enroll in a Proofread Anywhere course, you’ll have access to important resources like course materials and a helpful student Facebook group.
The company was started by Caitlyn Pyle, and Proofread Anywhere teaches people the ins and outs of the proofreading business while offering valuable resources and a supportive community. The goal is to give you the knowledge, skills, and confidence you need to start a rewarding and flexible career as a professional proofreader.
The General Proofreading: Theory and PracticeTM course comes with:
80+ lessons in 10+ modules
Bonus resource guides for all types of service-provider markets
40+ real-life example proofreading jobs
8 grammar-specific worksheets and workbook
Pep talk videos from the course creator
100-question in-depth vocabulary quiz
3 case studies
New and updated lessons
And more.
Who is Caitlin Pyle?
Caitlin Pyle is the founder of Proofread Anywhere. She’s an experienced proofreader who turned her skills into a successful freelance business.
Caitlin became a proofreader back in 2012 and made a great income with it. She was so passionate about proofreading that she started Proofread Anywhere as a blog back in 2014. It has since grown significantly!
She created Proofread Anywhere to share her expertise and help others find flexible, rewarding work-from-home opportunities. By providing accessible, high-quality training, Caitlin has already helped numerous students realize their freelance proofreading dreams.
You can read an interview that I did with Caitlin Pyle at How To Become A Proofreader And Work From Anywhere.
How much money do proofreaders make?
The amount of money you can make as a proofreader depends on things like your experience, speed, niche, and how much work you’re able to take on.
Proofreaders typically charge anywhere from $25 to $50 per hour, with some proofreaders earning even more. You can work part-time, work full-time, be self-employed, or be an employee for a business. So, the amount of money you can make will depend on that as well.
As you improve your proofreading skills and build your reputation in the industry, you can increase your rates and possibly earn a comfortable income working from home.
Many people and companies hire proofreaders and this can be a great way to grow your income and work from home.
Is Proofread Anywhere worth it?
If you are thinking about taking the Proofread Anywhere course, you’re probably wondering if it’s worth the time and money. I completely get it – you don’t want to waste your time or money after all.
I think that Proofread Anywhere is worth it, and I know several proofreaders who have gone through the course and now proofread.
Here are some reasons why taking the Proofread Anywhere course may be a great choice for you:
1. Helpful and educational lessons – Proofread Anywhere has two different courses: General Proofreading: Theory and Practice™ and Transcript Proofreading: Theory and Practice™. Both courses were created to give people the knowledge and skills they need in each of these proofreading areas. You will learn everything you need to know from start to finish, which is great!
2. Self-paced learning – You don’t have to worry about keeping up with a strict schedule, as the Proofread Anywhere courses are self-paced, which means that you can learn at your own comfort and convenience. This can be great if you have a busy lifestyle or if you simply prefer learning at your own pace. You can take the lessons at night, during the day, while watching your child, and so on.
3. Access to resources and support – Students of Proofread Anywhere receive resources like reference materials, quizzes, and practice worksheets (and these are amazing and so helpful!). There’s also a private Facebook group for students to share experiences, ask questions, find jobs, and more, which is very helpful.
4. Positive reviews – There are many positive reviews of Proofread Anywhere, and many students have said that the courses helped them improve their proofreading skills and even launch successful careers in the field.
5. Opportunities for growth – Completing a course from Proofread Anywhere not only improves your proofreading skills but can also open up new job opportunities. The skills you learn from these courses can be applied to many career paths, such as freelance proofreading, editing jobs, and more.
So, taking a Proofread Anywhere course can be a worthwhile decision for you if you’re looking to improve your proofreading skills and explore new career opportunities in this field.
How much does Proofread Anywhere cost?
Proofread Anywhere has two offerings – Ignite and Ignite Plus for the General Proofreading: Theory and PracticeTM course.
The Ignite package for Proofread Anywhere costs $697 and comes with lifetime access. This course teaches you how to become a proofreader and comes with all of the modules, a job board listing, bonuses, and more.
Ignite Plus costs $797 and includes everything in the Ignite package, plus a hand-graded exam (that will evaluate your aptitude and competence), certificate of completion, listing in the Self-Publishing School Preferred Outsourcer Rolodex, and membership in a separate marketing mastermind group for Proofread Anywhere general proofreaders.
Proofread Anywhere refund policy
Proofread Anywhere’s refund policy is 14 days long. If you are less than satisfied with your purchase, you can ask for a refund for any reason within 14 days of your purchase.
Pros and cons of Proofread Anywhere
Here are the pros and cons of the Proofread Anywhere General Proofreading Course:
Pros:
Thorough course content that covers proofreading basics and advanced techniques
Clear, easy-to-understand lessons designed for students with different levels of experience
Practical exercises and real-world examples that help you build your skills
Access to an online community where you can ask questions and receive support from fellow students and course instructors
Cons:
Some students may find the course price to be a little high, especially if they are just starting their proofreading career.
There might be a learning curve for those who are completely new to proofreading so that they can spot mistakes in content.
Proofread Anywhere has thorough courses for people interested in starting a proofreading career. The material is easy to understand, making it great for beginners to learn and grow their skills.
Proofread Anywhere course structure
The Proofread Anywhere course is organized and easy to follow, making it perfect for beginners looking to improve their proofreading skills.
Below, you will learn what is included in the Proofread Anywhere course as well as what you will learn.
This section will give you an overview of the course structure and a breakdown of the modules and lessons included.
Proofread Anywhere modules breakdown
The primary course offered by Proofread Anywhere is the General Proofreading: Theory and PracticeTM course.
This self-paced course comprises several modules, each containing lessons and video materials to help you grasp the concepts effectively. You’ll be able to learn at your own pace and make sure you thoroughly understand each topic before moving on to the next.
Module 1: Introduction To General Proofreading – In this module, you will learn what proofreading is, the skills that are needed, and an overview of what a proofreader does.
Module 2: Get into the Right Mindset – Here, you’ll learn about how to get into the success mindset, the different types of markets you can specialize in as a proofreader, and common terms used in the industry.
Module 3: Proofreading Basics – This module goes over the most common errors that you need to look for. There are also practice worksheets to test yourself.
Module 4: Proofreading Methods and Practice – This module will teach you the different types of proofreading methods.
Module 5: Turning Proofreading into a Business – This module is everything you need to know about how to turn your proofreading skills into a business. You’ll learn how to create a resume and website, how to set your rates, how to build your experience, and more.
Module 6: How To Find Clients – Here in this module, you will learn how to find clients.
Module 7: Your Workflow Once You Get the Job – This module teaches you all about your workflow once you have secured a proofreading job. From how to send the bill to sending over your completed work, this is a very helpful set of lessons.
Module 8: Getting the Most Out of the Freelancing Life – This lesson shows you how to structure your day, how to build confidence, and how to stay organized and productive as a freelance proofreader.
Module 9: Wrap-up Lesson – This is the final module in the Proofread Anywhere course, and it is a wrap-up of everything that you’ve learned.
Within the modules, you will also learn:
Grammar Refresher – This section covers grammar basics, including common myths and mistakes, parts of speech, pronouns, contractions, possessives, and verb forms. This equips you with the essential knowledge to become a professional proofreader.
Sentence Structure – In this crucial module, you’ll grasp sentence structure, subjects, predicates, sentence fragments, run-on sentences, subject-verb agreement, order of adjectives, adverbial clause vs. participial clause, and “which” vs. “that,” along with dangling modifiers. Strengthen your understanding and abilities with the comprehensive practice worksheets.
Spelling and Word Use for Proofreaders – You’ll be taught about different error types, typical typos, frequently misused words, handling numbers, American and British spelling differences, and capitalization – all important aspects for a proofreader. You’ll also get to practice with detailed worksheets and check your answers using provided keys.
Punctuation Principles – You’ll learn about common punctuation errors, including when and how to use apostrophes, hyphens and compound words, en dashes vs. em dashes, commas and semicolons, as well as quotation marks and italics. This section also covers American and British punctuation distinctions and includes a vocabulary quiz.
The course includes practice exercises in each module. These are meant to help you use your proofreading skills in real-world situations. The exercises range in difficulty, allowing you to progress and become more confident. By completing these exercises, you’ll get practical experience that will ready you for your future proofreading career.
Proofread Anywhere bonuses
There are also many bonuses offered in Proofread Anywhere’s General Proofreading course, such as:
“Look Better in Writing™ Handbook of Commonly Misused (and Abused!) Words” – This is a 57-page guide on words and terms that are easily mixed up and confused.
“The Ultimate Freelancer Tax Guide” – This is a 19-chapter guide all about accounting, tax preparation, deductions, and more.
“The Mindset Mastery Guide” – This is a guide on how to get over your fear of becoming a freelancer, how to see success, and more.
“5 Mindset Shifts for Goal-Crushing Confidence” – This is a resource that will teach you how to become more confident.
Proofread Anywhere support and community
When taking a course, it’s always nice to know what the community is like.
Facebook groups
As a Proofread Anywhere student, you will have access to a Facebook group dedicated to providing you a supportive and friendly community. These groups are designed for students to share their experiences, ask questions, and engage with others who are proofreaders.
Customer support
In addition to the Facebook group, Proofread Anywhere has great customer support to address any concerns or issues you might be facing. You can reach out to their team when you need help.
By participating in the community and utilizing the available support channels, you are not only reinforcing your learning journey but also building a strong network of fellow proofreaders. This will help you stay connected, motivated, and successful in your proofreading career.
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Proofread Anywhere real reviews
Looking for real Proofread Anywhere reviews?
My proofreader’s real review of Proofread Anywhere
I have a proofreader for this website, Making Sense of Cents. Jill Klein has been proofreading for several years, and she personally took a Proofread Anywhere course back in 2016. I asked her two questions:
1. Do you think that Proofread Anywhere helped you become a proofreader?
“As a kid, I was a word nerd who won lots of spelling bees. Little did I know that this would lead to building a proofreading business later in my life.
But it wouldn’t have happened without Proofread Anywhere.
I had a good foundation, and then PA came along and helped me build up my business by adding walls, bricks, windows, a roof, and more. Through the PA course, I was able to improve my skills and expand my knowledge.
I am constantly learning new things about running an editing business, and the learning journey all began with Proofread Anywhere.”
2.Would you recommend the course?
“I always recommend Proofread Anywhere to anyone who asks!
Even now, seven years later, I remember the high quality of the instruction. It was a very good curriculum with top-notch teaching.
The course I took was Transcript Proofreading, and it has served me well in my nonfiction niche of proofreading content like web copy, advertising materials, and book manuscripts.
Plus, the PA Certificate of Completion provided credibility to clients who asked to see training documentation.”
Testimonials
Many students who have enrolled in and graduated from the Proofread Anywhere course find it well worth the money. They like the easy-to-follow course structure, self-paced learning, and lifetime course access. Most of the online testimonials are positive experiences with the course.
Proofread Anywhere Trustpilot reviews
Proofread Anywhere has excellent reviews on Trustpilot, with a 4.6-star rating out of 61 total reviews. The majority of customers have given the course a 5-star rating, while only 5% of Proofread Anywhere reviews are negative.
You can find the Proofread Anywhere reviews on Trustpilot here.
Proofread Anywhere Better Business Bureau
Proofread Anywhere is not listed on the BBB. This isn’t a bad thing, though, as most businesses aren’t listed on the BBB anyway.
Proofread Anywhere negative reviews
As with any product or service, there are bound to be some negative reviews. A very small percentage of customers have rated Proofread Anywhere with 1-star reviews. However, it’s important to remember that the majority of students are happy with the course, and the overall rating remains high. So, when looking for a proofreading course, Proofread Anywhere could be the right choice for you.
Transcript Proofreading course
Proofread Anywhere has another popular course – their Transcript Proofreading course.
Proofread Anywhere’s Transcript Proofreading course is a great course to take if you want to go into transcript proofreading.
Transcript proofreading is when you are proofreading for court reporters in the legal industry.
Here’s what’s in this course:
The Nuts & Bolts of Transcript Proofreading
Transcript Formatting, Moving Parts, and Processes
How to Use Technology and AI Tools to Proofread Transcripts
Practice With Real-Life Transcripts to Develop Your Skills
Effective Client Communication and Accounting
How to Find Clients
And more!
There is a free training workshop you can take on how to become a transcript proofreader here.
Recommended reading: How To Become a Court Transcript Proofreader
Frequently Asked Questions About Proofread Anywhere
Below are common questions about Proofread Anywhere.
Is proofreading a legit business?
Yes, proofreading is a legitimate business. Many people and companies rely on professional proofreaders to make sure their written content is free of errors and ready for publication. Proofreaders work with a variety of content such as books, articles, and websites. By taking courses like Proofread Anywhere, you can improve your skills and increase your chances of success in the proofreading industry.
Is Proofread Anywhere real? Is Proofread Anywhere a scam?
Proofread Anywhere is a real and legitimate online platform selling courses to improve your proofreading skills and establish a proofreading business. It was created by Caitlin Pyle, an experienced proofreader and entrepreneur. The overwhelmingly positive online reviews and the large student Facebook group show the program’s quality and legitimacy.
What does the Proofread Anywhere course offer?
Proofread Anywhere has comprehensive online courses that train you in the art of proofreading. The courses not only give you necessary proofreading skills but also guide you on how to set up a freelance proofreading business.
How long does it take to complete the Proofread Anywhere course?
The average time to complete the Proofread Anywhere General Proofreading course is under one month.
The time it takes to complete the Proofread Anywhere course will vary, though, depending on your individual learning pace and time commitment. The course is self-paced, so you can go as fast or slow as you would like. Some students may finish the course faster, while others may take more time to digest the material and practice the techniques.
Remember, you have lifetime access to the course as well!
Can you really make money proofreading? How much money can you make after taking Proofread Anywhere?
Yes, you can make money as a proofreader. However, like any freelancing work, your income will depend on various factors such as your experience, expertise, and the demand for your services. After completing the Proofread Anywhere course and gaining some experience in the field, you can potentially earn a steady income from proofreading work. The exact amount will depend on your personal success in finding clients and projects.
What kind of support can I expect after completing the Proofread Anywhere course?
After completing the course, students have access to several support resources, such as an online community for help and networking as well as finding proofreading job leads. Also, there is lifetime access to course updates.
Is there a Proofread Anywhere coupon code?
There might be Proofread Anywhere coupon codes or discounts available at certain periods. To get the latest information on promotions, it’s a good idea to keep an eye on the official Proofread Anywhere website and their social media channels. Also, if you sign up for the free training workshop, there is a very good chance that you will get a discount as well (highly recommend doing this as the free training is very helpful).
What is transcript proofreading?
Transcript proofreading is the process of reviewing and correcting written transcripts, which are records of spoken events such as interviews, speeches, or legal proceedings. A transcript proofreader checks accuracy and consistency, correcting errors in grammar, punctuation, spelling, and formatting. This specialized skill set usually requires extra training, and Proofread Anywhere offers a course focused specifically on transcript proofreading called Transcript Proofreading: Theory and Practice™, to help you develop these skills.
Proofread Anywhere Review – Summary
I hope you enjoyed this Proofread Anywhere review.
Proofread Anywhere is a very helpful online course designed to train you in the art of proofreading so you can transform this skill into a full-time or side income. Whether you want to make extra income or start a full-time business, this course aims to equip you with every necessary skill for spotting errors in documents and providing quality feedback.
Here’s a quick Proofread Anywhere review:
This is an in-depth course covering all aspects of how to become a proofreader.
There is a supportive community and there are resources for continuous learning.
The course helps in improving proofreading skills, in case you are new.
There are lots of practice questions so that you can spot mistakes once you start proofreading.
The course is extremely helpful and I think it’s a great choice for anyone who wants to become a proofreader.
Don’t forget, there is a free workshop where you can learn how to become a proofreader. You can sign up for free here.
What other questions do you have for my Proofread Anywhere Review? Are you interested in becoming a proofreader?
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This free 76-minute workshop answers all of the most common questions about how to become a proofreader, and even talks about the 5 signs that proofreading could be a perfect fit for you.
In general, this Northern California city reeks of high-end status, what with all of the vineyards, Silicon Valley and higher than average rental prices. There can only be one top dog in the elite rental community, though, and that award goes to whoever holds the lease on the Residence 2 Luxury unit in Rosewalk Apartment Homes, which rings in at $10,000 per month.
Situated in South San Jose
Found in the ultra-desirable Santa Clara Valley, the southern area of San Jose is amazing even if wine isn’t your thing. Simply put, it’s darn near impossible to surpass the incredible views and general ambiance of the neighborhood. And if you do like wine, well that’s just aces!
Not surprisingly, the area is also ideal for outdoorsy people, thanks to the preponderance of local parks. Almaden Quicksilver County Park is one such option, with 37 miles of hiking trails, 30 miles of equestrian trails and catch-and-release fishing, among many other available activities. Rosewalk is also super close to the popular Santa Clara County Fairgrounds, which hosts a bevy of concerts and other events all year long.
So, whether you’re into car shows or musical theater, the fairgrounds have got you covered. Bonus: The property is also a short jaunt over to the light rail, making the rest of San Jose easily accessible, as well, without ever having to crank your own ignition.
The unit itself
The Residence 2 Luxury unit at Rosewalk does a lot with its space. In total, the rental has two bedrooms and two full bathrooms within its 1,070 square feet. It also comes standard with oversized walk-in closets, a fireplace and fully-equipped kitchens with stainless steel appliances. The two porches/balconies make it easy to enjoy the breathtaking area views at any time of the day or night.
All the amenities
Why take a vacation when Rosewalk offers amazing amenities right at home? Residents and their guests relax happily at either of the two, resort-style lap pools, which feature expansive sundecks for extra Vitamin D.
There are also two hydro-spas for serious water therapy, perfect following a tough workout at the 24-hour state-of-the-art fitness center on-site. In addition, Rosewalk boasts a gorgeous outdoor pavilion, equipped with heaters for those cooler days and nights, plus two outdoor barbecues and even a pizza oven! Wash it all down thanks to the complimentary refreshment bar located in the clubhouse, which is stocked on the regular with gourmet coffee, bottled water, tea and hot cocoa.
Renters within the Rosewalk community also enjoy a few extra services unique to the property. First, each tenant can choose a complementary accent wall to add a bit of individual flair to the place. The community helps the renter to choose a color and location within the unit, then takes care of all of the actual work involved.
Rosewalk is also extremely pet-friendly, with treats in the clubhouse and waste stations scattered throughout the property to make walks as easy as possible. They don’t have any weight maximums, either, although there are some breed restrictions. One super cool twist: Any tenant who adopts a pet from a local shelter can be reimbursed by Rosewalk up to $250!
Another enviable service that Rosewalk provides is “Valet Waste,” which is a fancy way of saying that you can put your trash and recycling outside your front door and someone else will pick it up. Unlike your trash, this service does not stink. Also, if you head out of town just let management know. They’ll handle mail, packages and even water your plants if you want. Now that’s service!
What $10,000 can also get you
Sometimes it’s hard to visualize just how much $10,000 is worth. Here are some examples of what else that kind of coin can pay for:
Sure, some of those are more admirable ways to spend a pile of money than others, but they’re all pretty fun in their own ways. Just don’t eat all that chicken at once.
Other luxe units in the area
Perhaps Rosewalk is a little too much apartment (or rent) for you. There are other amazing luxury-level apartments available for rent in San Jose. Here are a few potential places:
Still too pricey for your purposes? There are plenty of other apartments to be had in San Jose that don’t require Apple executive-type pay grades.
The San Jose way
If luxury living in the tech capital of the world is what you’re after, there’s no better unit than this two-bedroom in Rosewalk. The floor plan is as elite as they come among all San Jose apartments, which is a good thing because, for $10,000 a month, it better be!
The rent information included in this article is accurate as of September 2021 and is used for illustrative purposes only. The data contained herein do not constitute financial advice or a pricing guarantee for any apartment.
A freelance writer based out of the Atlanta area, Alia has penned articles during her decade+ career for such sites as HowStuffWorks, TLC, Animal Planet, Zillow and many more. Her favorite things to write about include fitness, nutrition, travel, healthcare and general lifestyle topics. A graduate of the University of Georgia, Alia’s an avid Dawg, but she also loves reading, sewing, eating all things chocolate and playing sports with her husband, three boys and beloved border collie, Flash.
There once was a time was when retirement meant leaving your job permanently, either when you reached a certain age or you’d accumulated enough wealth to live without working. Today’s retirement definition is changing, and it can vary widely depending on your vision and your individual financial situation.
It’s important for each person to develop their own retirement definition. That can help you establish a roadmap for getting from point A to point B, with the money you have, and in the time frame you’re expecting.
Key Points
• Retirement’s definition may vary based on individual financial situations and personal visions.
• Retirement has both financial and lifestyle aspects that need to be considered in its definition.
• Being retired means relying on savings, investments, and perhaps federal benefits for income instead of a regular paycheck.
• Retirement doesn’t necessarily mean individuals completely leave the labor force, as some retirees may have part-time jobs or pursue new careers.
• Retirement statistics show that a significant portion of retirees rely on Social Security, and savings levels vary among individuals.
Retirement Definition
Retirement’s meaning may shift from person to person, but the bottom line is that retirement has a financial side and a personal or lifestyle side. It’s important to consider both in your definition of retirement.
Retirement and Your Finances
Being retired or living in retirement generally means that you rely on your accumulated savings and investments to cover your expenses rather than counting on a paycheck or salary from employment. Depending upon your retirement age, your income may also include federal retirement benefits, such as Social Security and other options.
Retiring doesn’t necessarily mean you stop working completely. You might have a part-time job or side hustle. You may choose to start a small business once you retire from your career. But the majority of your income may still come from savings or federal benefits.
Retirement and Your Lifestyle
Some people embark on a new life or a new career in retirement, complete with new goals, a new focus, sometimes in a brand-new location. But retirement doesn’t have to be a period of reinvention. It depends on how you view the purpose and meaning of retirement. Many people enjoy this period as a time to slow down and enjoy hobbies or priorities that they couldn’t focus on before.
Consider the notion of moving in retirement. While strolling on sandy, sunlit beaches is depicted as a retirement ideal, many people don’t want to move to get there. In fact, 53% of retirees opt to remain in the house where they were already living, according to a 2022 study by the Center for Retirement Research.
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Qualified Retirement Plan Definition
A qualified retirement plan provides you with money to pay for future expenses once you decide to retire from your job. The Employment Retirement Security Act (ERISA) recognizes two types of retirement plans:
Defined Contribution Plans
In a defined contribution plan, the amount of money you’re able to withdraw in retirement is determined by how much you contribute during your working years, and how much that money grows as it’s invested. A 401(k) plan is the most common type of defined contribution plan that employers can offer to employees.
There are other kinds of retirement plans that fall under the defined contribution umbrella. For example, if you run a small business, you might establish a Simplified Employee Pension (SEP) plan for yourself and your employees. Profit sharing plans, stock bonus plans, and employee stock ownership (ESOP) plans are also defined contribution plans.
A 457 plan is another defined contribution option. They work similar to 401(k) plans, in that you decide how much to contribute, and your employer can make matching contributions. The main difference between 457 and 401(k) retirement accounts is who they’re designed for. Private employers can offer 401(k) plans, while 457 plans are reserved for state and local government employees.
Defined Benefit Plans
A defined benefit plan (typically a pension) pays you a fixed amount in retirement that’s determined by your years of service, your retirement age, and your highest earning years. Cash balance plans are another type of defined benefit plan.
Generally speaking, defined benefit plans have been on the wane in the last couple of decades, with more of the responsibility for saving falling to workers, who must contribute to defined contribution plans.
Retirement Statistics
Retirement statistics can offer some insight into how Americans typically save for the future and when they retire. Here are some key retirement facts and figures to know, according to the Federal Reserve’s Report on the Economic Well-Being of U.S. Households in 2021 – May 2022:
• 27% of adults considered themselves to be retired in 2021, though some were still working in some capacity.
• 49% of adults said they retired to do something else, while 45% said they’d reached their normal retirement age.
• 78% of retirees relied on Social Security for income, increasing to 92% among retirees age 65 or older.
• 55% of non-retired adults had savings in a defined contribution plan, while just 22% had a defined benefit plan.
• 40% of non-retirees felt that they were on track with their retirement savings efforts.
So, how much does the typical household have saved for retirement? According to the Transamerica Center for Retirement Studies, the estimated median retirement savings among American workers is $54,000. Just 27% of adults who are traditionally employed and 24% of self-employed individuals have saved $250,000 or more for retirement.
Retirement Age
In simple terms, your retirement age is the age when you decide to retire. For example, you might set your target retirement date as 62 or 65 or 66 — all of which are related to Social Security benefits in some way.
Social Security has largely shaped how we view retirement age in the U.S. because that monthly payout is what enables the majority of people to leave work. As noted above, some 92% of retirees age 65 and older say they depend on Social Security. While retiring at 62 is the earliest age when you can claim Social Security, that’s not your “full retirement age.”
Your full retirement age depends on the year you were born. If you were born between 1943 and 1954, your full retirement age is 66. If you were born from 1955 to 1960, it increases until it reaches 67. And if you were born in 1960 or later, your full retirement age is 67. Claiming Social Security at your full retirement age gives you a higher monthly benefit vs. starting at age 62, which is considered a reduced benefit.
Every year you delay getting benefits gives you a little bit more — about 8% more — up until age 70. There’s no additional amount for claiming after age 70.
Saving for Retirement
Saving for retirement is an important financial goal. While Social Security may provide you with some income, it’s not likely to be enough to cover all of your expenses in retirement — particularly if you end up needing extensive medical care or long-term care. In 2022, according to the Social Security Administration, the average monthly benefit amount was $1,542.22.
Financial experts often recommend saving 15% of your income for retirement but your personal savings target may be higher or lower, depending on your goals. The longer you have to save for retirement, the longer you have to take advantage of compounding interest. That’s the interest you earn on your interest and it’s one of the keys to building wealth.
Selecting a retirement plan is the first step to getting on track with your financial goals. When saving for retirement, you can start with a defined benefit or defined contribution plan if your employer offers either one. Defined contribution plans can be advantageous because your employer may match a percentage of what you save. That’s free money you can use for retirement.
If you don’t have a 401(k) or a similar plan at work, or you do but you want to supplement your retirement savings, you could open a retirement investment account, otherwise known as an individual retirement account (IRA).
Is your retirement piggy bank feeling light?
Start saving today with a Roth or Traditional IRA.
Retirement Investment Accounts
A retirement investment account is an account that enables you to save money for the future, but it isn’t considered a federally qualified retirement plan, like a 401(k). IRAs are tax-advantaged investment accounts that you can use to purchase mutual funds, exchange-traded funds (ETFs), and other securities.
There are two main types of IRAs you can open: traditional and Roth IRAs. A traditional IRA allows for tax-deductible contributions in the year that you make them. Once you retire and begin withdrawing money, those withdrawals are taxed at your ordinary income tax rate.
Roth IRAs don’t offer a deduction for contributions because you contribute after-tax dollars. You can, however, make 100% tax-free qualified withdrawals in retirement. This might be preferable if you think you’ll be in a higher tax bracket once you retire.
Both traditional and Roth IRAs are subject to annual contribution limits. The annual limit for 2022 is $6,000, or $7,000 if you’re 50 or older (the extra amount is often called a catch-up provision). There’s an increase for 2023 to $6,500 for the base amount; the catch-up provision is still $1,000 more, for a total of $7,500.
You can open an IRA online, or at a brokerage, alongside a taxable investment account for a comprehensive retirement savings picture.
Pros of Retirement Investment Accounts
Opening an IRA could make sense if you’d like to save for retirement while enjoying certain tax benefits.
• If you’re in a higher income bracket during your working years, being able to deduct traditional IRA contributions could reduce your tax liability.
• And not having to pay tax on Roth IRA withdrawals in retirement can ease your tax burden as well if you have income from other sources.
• IRA accounts often give you more flexibility in terms of your investment choices.
Cons of Retirement Investment Accounts
While IRAs can be good savings vehicles for retirement, there are some downsides.
• Both types of accounts have much lower contribution limits compared to a 401(k) or 457 plan. For example, the maximum you can contribute to a 401(k) in 2022 is $20,500, with an additional $6,500 catch-up provision. For 2023, you can contribute $22,500 per year, plus an additional $7,500 if you’re 50 and up.
• With traditional IRAs, you must begin taking required distributions (RMDs) based on your account balance and life expectancy starting at age 72 (401(k)s have a similar rule). If you fail to do so, you could incur a hefty tax penalty.
• Roth IRAs don’t have RMDs, but your ability to contribute to a Roth may be limited based on your income and tax filing status.
Investing for Retirement With SoFi
However you choose to define your retirement, making a financial roadmap will help you get the retirement you want.
SoFi Invest offers traditional and Roth investment accounts to help you build the future you envision. You can also open a SEP IRA if you’re self-employed and want to get a jump on retirement savings. Another way to keep track your retirement savings is to roll over your old accounts to a rollover IRA, so you can manage your money in one place.
SoFi makes the rollover process seamless and straightforward. There are no rollover fees, and you can complete your 401(k) rollover without a lot of time or hassle.
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FAQ
What is the meaning of retirement?
Retirement generally means leaving your job or the workforce, and living off your savings and investments, but that definition is changing for some. Some people may choose to continue working in retirement, though it may not be their primary source of income. Others may shift their work to focus more on lifestyle changes.
How common is retirement?
According to the Federal Reserve, about 27% of adults considered themselves to be retired in 2021, though some were still working in some capacity. Of these, 49% said they had retired to do something else, while 45% said they’d reached their normal retirement age.
How does retirement work?
When someone retires, they stop working at their job. Or, in the case of a business owner, they hand the business over to someone else. At that point, it’s up to them to decide how they want to spend their retirement, which might include taking care of family, traveling, working part-time, or exploring new hobbies. Their sources of income might include savings, investments, a pension, and Social Security benefits.
Photo credit: iStock/Alessandro Biascioli
SoFi Invest® The information provided is not meant to provide investment or financial advice. Also, past performance is no guarantee of future results. Investment decisions should be based on an individual’s specific financial needs, goals, and risk profile. SoFi can’t guarantee future financial performance. Advisory services offered through SoFi Wealth, LLC. SoFi Securities, LLC, member FINRA / SIPC . SoFi Invest refers to the three investment and trading platforms operated by Social Finance, Inc. and its affiliates (described below). Individual customer accounts may be subject to the terms applicable to one or more of the platforms below. 1) Automated Investing—The Automated Investing platform is owned by SoFi Wealth LLC, an SEC registered investment advisor (“Sofi Wealth“). Brokerage services are provided to SoFi Wealth LLC by SoFi Securities LLC, an affiliated SEC registered broker dealer and member FINRA/SIPC, (“Sofi Securities).
2) Active Investing—The Active Investing platform is owned by SoFi Securities LLC. Clearing and custody of all securities are provided by APEX Clearing Corporation.
3) Cryptocurrency is offered by SoFi Digital Assets, LLC, a FinCEN registered Money Service Business.
For additional disclosures related to the SoFi Invest platforms described above, including state licensure of Sofi Digital Assets, LLC, please visit www.sofi.com/legal.
Neither the Investment Advisor Representatives of SoFi Wealth, nor the Registered Representatives of SoFi Securities are compensated for the sale of any product or service sold through any SoFi Invest platform. Information related to lending products contained herein should not be construed as an offer or prequalification for any loan product offered by SoFi Bank, N.A.
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.
Inside: Are you confused about the differences in types of income? This guide will help you understand earned income, passive income, and investment income, and their importance in achieving financial stability. Learn about the different tax implications for each type of income.
Understanding the differences in income types is a vital component of your financial literacy.
Earned, passive, and investment income all play a distinct role in your financial portfolio and tax liabilities.
These types of income are important to grow your wealth.
We will quickly answer the difference, provide examples, and understand the tax implications.
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 Earned Income?
Earned income is the money you actively work for. You trade your time for money.
This comes in the form of salaries and wages, where you receive a fixed amount of compensation for your role or job. It can also occur as hourly wages in part-time or contractual jobs.
Other forms include tips received in the service industry, bonuses for achieving specific goals, and self-employment income for freelancers, consultants, and small business owners. Any income that directly results from your personal efforts and active participation falls under earned income.
Typically, this is the most common form of income for most people.
Real Life Examples of Earned Income
A supermarket cashier receives an hourly wage.
A financial analyst is being paid for salary.
A freelance graphic designer receiving payment for a recently completed project.
A waitress at a restaurant receives a tip from a satisfied customer.
A real estate agent receives a commission on the sale of a house.
A sales manager at a car dealership receives a bonus for meeting sales targets.
A renowned author receiving an honorarium for delivering a keynote speech at a literature festival.
A hairstylist at a salon receives income from the haircuts and styling services provided.
A fitness coach generating income through personal training sessions.
Any side hustle income is typically earned income.
How Is Active Income Taxed?
Active income, also known as earned income, is subject to income tax at various rates as determined by the IRS’s current tax brackets. Seven tax brackets, ranging from 10% to 37%, are set for individual taxpayers. 1
The tax treatment is wholly dependent on where an individual’s income falls within these brackets. Your employer typically deducts this tax directly from your paycheck, reducing net take-home pay. It’s advisable to understand the tax implications of your earnings to avoid any surprises at tax time.
Use this tax calculator to know your taxes due.
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Role of Passive Income
Passive income refers to money earned that is not directly linked to active efforts or time spent, often described as income one can earn while sleeping, vacationing, or indulging in hobbies.
This kind of income usually demands some sort of initial investment, which could be financial, a substantial time commitment, ingenuity, or a mixture of all. For many, they invested 10k to get started. Examples include writing a book, creating a course, investing in real estate, or running an affiliate marketing program.
Despite the upfront work often required, passive income potentially provides a steady additional revenue stream and financial independence, making it an attractive prospect for many.
Common Forms of Passive Income
Dividends and interest income: Profits made from investments in stocks or bonds often involve receiving dividends or interest.
Rental income: This is earned from renting out property you own, like houses or apartments as a real estate rental.
Royalties: Income from allowing others to use your intellectual or creative properties, such as copyrighted books, music compositions, or patented inventions.
Capital gains: Profits from buying assets like stocks or property for a certain amount and selling them at a higher value.
Product or Course Sales: A small business owner receiving income from a product or sales that they created once and can resell.
Remember, there is still a level of effort involved in managing these streams, even though they are considered passive.
How Is Passive Income Taxed?
The tax liability of passive income can vary based on how the income is generated. 2
In general, how passive income is taxed depends on how the income is earned. The key note is you are not trading your time for money.
Some forms of passive income are subject to self-employment taxes, while others may be taxed at your regular income tax rate. For instance, net rental income, a form of passive income, may attract unique taxation rules.
However, the applicable tax rules can be complex. Therefore, it’s highly recommended to seek advice from a licensed tax professional when managing taxes for passive income.
Insights into Investment Income
Investment income is a distinct financial category mainly composed of profits resulting from various investments. This pathway consists of the strategic acquisition of assets with a prime focus on their long-term appreciation or regular income, potentially in the form of dividends or interest.
Unlike earned income which often demands a substantial time investment, and unlike passive income which may need initial setup, investment income principally necessitates strategic decision-making and periodic performance reviews.
The common form is learning how to invest in the stock market or real estate.
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Examples of Investment Income And Strategies
Dividends: Income received from owning shares of a company. A long-term investment strategy generally works best here.
Bond Interest: Income paid from bonds for lending money to entities. Risk-averse investors often lean towards bonds for steady income.
Capital Gains: Profits from selling investments at a higher price than their purchase. This needs a strategic understanding of market patterns.
Real Estate Investment Trusts (REITs): Income from investing in property-related assets. This strategy may provide steady cash flow with potential growth.
P2P Lending: Returns from lending money through online platforms. The ability to scale and diversify this investment depends on your risk tolerance.
Interest on savings accounts – Money earned on the balance held in your savings account.
All require a strategic approach, balancing risk and rewards, to drive income growth effectively.
Please note, that the successful generation of investment income often requires careful financial decision-making and strategic asset allocation.
Impact of Tax on Investment Income
Taxes on investment income include interest, dividends, and capital gains. However, the rate is usually lower than that for earned income.
Investment income is often taxed at a lower rate than earned income, however, the exact tax rates can depend on an individual’s tax bracket and the holding period of the investment.
In certain circumstances, Investment income can be subject to capital gains taxes, which apply if you sell a stock or other investment at a profit.
For some high-income individuals, Investment income may be subjected to the Net Investment Income Tax (NIIT). The NIIT is an additional 3.8% tax on certain investment income, such as interest, dividends, and capital gains.
Capital gains from the sale of assets (like real estate or a business) are often taxed at a lower rate compared to ordinary income.
Therefore, it’s important to consider these tax implications when shaping your investment strategies. Proper tax planning can help mitigate the impact of taxes on your investment income.
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Major Differences Between Active (Earned) and Passive Income
The primary differences between active (earned) income and passive income revolve around how they are earned and managed.
Active (earned) income requires active, day-to-day involvement in work. For example, a full-time job where you’re on the clock. It’s often less scalable due to time and energy constraints. Earned income is also more prone to risks like job loss or health issues that prevent work. Furthermore, in most regions, earned income tends to fall in higher tax brackets.
Conversely, passive income demands initial setup and some regular review but not daily oversight. Examples include earning royalties from a book you wrote or income from renting properties. This is more scalable because you aren’t exchanging time for money in the same way.
Advantages of Diversifying Your Income Sources
#1 – Achieving Financial Goals with Flexibility
Diversifying your income source adds flexibility to your personal finance strategy, helping you achieve your financial goals effectively. An income diversified across active, passive, and investment income can cushion against financial downturns whilst providing multiple avenues for wealth generation.
An unexpected job loss, for example, maybe less devastating when you have additional income streams to bank on, such as rental income or dividends, providing you with the flexibility to navigate financial bumps. It also allows you to explore unique investment opportunities without undue stress.
Consequently, a multi-faceted income model can be a stepping stone towards financial freedom.
#2 – Stable Financial Standing with Multiple Income Streams
Having multiple income streams provides a buffer that can significantly enhance your financial stability. “You’ll catch more fish with multiple lines in the water,” says Greg McBride, chief financial analyst at Bankrate. 4
If one income source dwindles or disappears, other income streams continue to provide essential financial flow. This duplication shields you from the full brunt of economic or occupational changes, ensuring you maintain your standard of living while working towards your financial goals. Thus, a diverse income portfolio lays a foundation of financial resilience and prosperity.
#3 – Tax Benefits and Deductions: Navigating the Complexities
Income diversification presents an opportunity to mitigate taxes through various benefits and deductions. Depending on your jurisdiction, you may be eligible for specific tax breaks or deductions on passive or investment income. For instance, certain expenses related to generating rental income may be deductible, or long-term capital gains might be taxed at a lower rate.
It’s also noteworthy that certain types of income like qualified dividends or long-term capital gains can offer potential tax advantages over regular income. While tax laws can be complex, a basic understanding of these concepts could be beneficial to reduce your tax obligations.
That said, always consider seeking the help of a tax professional to navigate these intricacies, especially with an S corporation or with a schedule C.
FAQ About Different Types of Income
Earned income and passive income are two distinctly sourced income channels. Earned income is money received as a direct result of work performed or services provided. This includes wages, salaries, tips, and self-employment income.
Passive income, on the other hand, is money earned without active, daily participation. Although it may require initial efforts to set up, its subsequent generation entails minimal direct input. The key difference between the two lies in the level and timing of involvement required to generate them. Passive income gives you more time freedom.
Portfolio income and passive income are often misunderstood as the same. However, the Internal Revenue Service (IRS) distinctly categorizes them. 3
While passive income generally refers to earnings gained without active involvement, portfolio income specifically relates to income derived from investments such as interest, dividends, or capital gains. Although both involve some lack of active participation, their origins, and tax implications are different.
No, investment income and earned income are not the same. The key difference lies in the source: one is actively earned by working, while the other is accrued through investing or letting money work for you.
The variance also manifests in their respective tax treatment by the IRS.
Earned income refers to wages, salaries, bonuses, and other income earned by providing a service or actively participating in a job or business.
On the other hand, investment income is generated from things like dividends, interest, and capital gains from the sale of financial assets such as stocks or bonds.
Diversification is the Key to Types of Income
Choosing the right income channel—earned, passive, or investment income—depends heavily on your financial goals, resources, risk tolerance, and time commitment.
Earned income may provide stable, regular income, but requires active participation.
Passive income, while enticing with its offer of money while you sleep, requires initial effort and savvy management.
Investment income may promise attractive returns, yet it can involve significant risk and demand financial acumen.
Diversifying your income streams could provide economic stability, flexibility, and potential tax benefits.
One wise woman, Teri Ijeoma, once stated, “It is better to make more money than you know what to do with rather than worry about how the taxes work.”
Remember, there’s no one-size-fits-all answer to financial prosperity, but understanding the nuances of various income types is a step in the right direction toward financial literacy and independence.
Now, let’s move to how to become financially independent.
Source
Internal Revenue Service. “IRS provides tax inflation adjustments for tax year 2024.” https://www.irs.gov/newsroom/irs-provides-tax-inflation-adjustments-for-tax-year-2024. Accessed November 20, 2023.
Internal Revenue Service. “Passive Activity and At-Risk Rules.” https://www.irs.gov/pub/irs-pdf/p925.pdf. Accessed November 20, 2023.
Internal Revenue Service. “Publication 550 (2022), Investment Income and Expenses.” https://www.irs.gov/publications/p550. Accessed November 20, 2023.
Bankrate. “23 passive income ideas to help you make money in 2023.” https://www.bankrate.com/investing/passive-income-ideas/. Accessed November 20, 2023.
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Grab your wallet because the busiest time of the year for spending is upon us. Despite persistent inflation and dwindling household savings, shoppers are planning to drop up to an estimated $967 billion during this holiday season, a November 2023 study by the National Retail Federation shows.
The Consumer Financial Protection Bureau, in a 2023 report, estimates that 74% of adults in the U.S. had a credit card account in their name as of the end of 2021. And a 2023 NerdWallet survey found that nearly 3 in 4 Americans (74%) are planning to use their card to pay for holiday expenses.
If you’re sitting on a stash of points or miles, you may be tempted to use them to offset holiday purchases. And when you’re trying to stick to a holiday budget, this can seem like a great idea. It may not provide an optimal value, but many people aren’t trying to wring the most out of every point. And that’s OK. If you’re responsible with your credit and using your rewards card wisely, you’re already ahead.
But if you want to get the best value from your credit card reward points, here are five pitfalls to avoid this holiday shopping season.
1. Using ‘pay with points’ at checkout
Since the pandemic, a growing number of credit card rewards programs have implemented a “pay with points” option at popular merchants like Amazon and Best Buy. This allows cardholders to easily use their points to directly offset the cost of their purchase at checkout. The problem? Many shoppers don’t realize that point values are often diminished when they are redeemed this way.
For example, the industry-standard value is a penny per point. But paying with points at checkout often gives 20% to 30% less value. By comparison, points earned from some credit cards can be worth up to 1.5 cents each toward travel, with the potential for even value when transferred to an airline or hotel travel partner.
You also won’t earn rewards on purchases when you pay with points. Even if you want to redeem rewards for cash back, you’d be better off charging the purchase on your card to earn rewards and redeem rewards for cash or statement credit to cover the purchase later.
2. Redeeming points for merchandise
Many credit card issuers offer the ability to redeem your miles and points for goods through a catalog or digital shopping mall. But think twice before you pay for those new AirPods for Dad with your rewards.
Redeeming points for merchandise through your credit card’s digital shopping mall will rarely provide good value. These malls often have higher prices than if you were to buy the same product elsewhere. That means that even if it seems like you’re getting a typical 1 cent per point value, they’ll actually be worth less since the items may be overpriced.
3. Opening a store credit card
When shopping, you might be offered an opportunity to open a new credit card at checkout to score an immediate discount. While this might seem like a good deal, retail store cards are often a less valuable choice in the long run. The rewards earned are usually limited to more goods from that retailer and often expire quickly. Plus, credit limits are typically lower than a general rewards card, and interest rates are higher.
If you’re in the market for a new rewards card this holiday season, you’ll likely do better applying for a general cash back or travel rewards card to earn rewards that have more flexibility. These cards also tend to offer more valuable sign-up bonuses than retail cards. The Wells Fargo Active Cash® Card, for example, has this offer: Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months.
4. Thinking all travel redemptions are created equal
If you have a travel rewards card, you naturally want to use your points toward travel. But be aware that travel booking portals through your credit card can have very different point values depending on your card, its issuer and the type of booking.
For example, booking flights, hotels and rental cars with Chase rewards offers a steady value between 1 and 1.5 cents per point, depending on which card you have. American Express, on the other hand, offers a value of 1 cent per point toward airfare and specific luxury hotels. But the value drops to 0.7 cent per point when redeemed for other hotels and rental cars.
Transferring your rewards to a travel partner’s loyalty program often gives better value, but not always. Some card issuers also charge a fee to transfer points to partner programs.
5. Donating your points and miles
Most airline, hotel and travel credit card rewards programs give you the option to donate your miles and points to select charities. This can sound like an appealing win-win for both you and the charity. You donate your unused rewards and the charity receives a cash contribution.
However, many loyalty programs don’t divulge the cash value a charity will receive for your donation. Another catch is that you won’t get a tax deduction because the IRS generally doesn’t view rewards as income.
If you’re conscious of cash flow but still want to make a charitable gift, consider donating cash rewards from your cash back credit card instead. If you redeem the cash rewards, then make a cash donation, you’ll get good value for the rewards and also qualify for a tax deduction.
Hello! The deals have started. Today, I have created a Black Friday and Cyber Monday roundup of the best deals I have found. The deals below will help you grow via Pinterest, make money blogging, add legal templates to your blog, start your own course, work from home, and more. The resources included here are…
Hello!
The deals have started.
Today, I have created a Black Friday and Cyber Monday roundup of the best deals I have found.
The deals below will help you grow via Pinterest, make money blogging, add legal templates to your blog, start your own course, work from home, and more.
The resources included here are all my favorites!
Note: Most of the deals below end on Monday night, November 27th at 11:59 pm.
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If you’ve ever thought about creating an online course but need a good reason to start, here’s one: Teachable is having their biggest sale of the year right now. Teachable makes it easy to create and sell online courses, coaching services, membership sites, and digital downloads.
I use Teachable for both of my courses, and I highly recommend using their platform.
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Website Legal Templates Bundle – 50% off
I have received so many questions over the years about legal templates, and this is what I recommend using.
With the Website Legal Templates Bundle, you can protect your blog with a Privacy Policy, Terms and Conditions, and Disclosures and Disclaimers.
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Become a Proofreader – 70% off
Proofreading is the process of reviewing and checking a written document to find and correct errors in grammar, spelling, punctuation, and formatting.
Proofreading is an in-demand job where you only need a laptop or tablet, an internet connection, and the skills to get started. Learning how to proofread is a valuable skill that can open doors to a successful work-from-home career. Due to the increasing demand for online content, now is a great time to learn how to proofread.
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Starting today through Monday, November 27th at 11:59 PM ET, you can get 70% off General Proofreading (Ignite Plus level). Please click here to get 70% off. Use coupon code BFCM70.
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Transcription is when you turn audio files or video content into a text document.
There are many businesses looking for transcriptionists too – Examples include marketers, authors, filmmakers, academics, speakers, and conferences of all types.
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Starting today through Monday, November 27th at 11:59 PM ET, you can get 60% off the Transcribe Anywhere courses. Please click here to get 60% off.
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Want to learn how to become a virtual bookkeeper?
Online bookkeeping can be a great way to work from home, and remote bookkeepers are in high demand too. If you’ve been wanting to work from home and want to earn $40,000+ each year, bookkeeping may be perfect for you.
From today through Monday, November 27th, the Black Friday deal on this virtual bookkeeping course is that you can enroll in Bookkeeper Launch Pro and Premier for 40% off (full payment only)!
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I just bought this deal and I do every year. DepositPhotos is an affordable place to purchase photos.
Putting pictures in your blog posts is important.
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Tip for shopping this holiday season:
There are a few other ways to save this holiday season by using easy cell phone apps! Don’t forget to:
Scan your grocery receipts with Fetch Rewards. Fetch Rewards is a cash back and gift card cell phone app that rewards you for purchases that you’ve already made. With Fetch Rewards, you can earn points by submitting your receipts to the Fetch Rewards app from any grocery store. Yes, ANY! You can sign up for Fetch Rewards here.
Shop with Rakuten and get cash back at online retailers. All you do is click on a store that you want to shop through (they have tons of stores such as Target, Walmart, Best Buy, Kohls, REI, etc.) and shop just like how you normally would shop online and get cash back. Plus, when you sign up through my link and make a qualifying purchase, you receive a free $40 cash sign-up bonus.
Get cash back at gas stations with Upside.I recently downloaded this and it is very easy to use. Upside is a mobile app that helps you find gas stations, groceries, and restaurants where you can earn cash back. You simply sign up for a free account, and then look at the Upside app to find places near you. You can earn up to $0.25/gallon cash back at gas stations, up to 30% back on grocery purchases, and up to 45% back at restaurants. You can check out Upside here to learn more.
I use all three of these apps and recommend them if you are looking for easy ways to save money right now.
Also, I recommend reading How To Save Money During The Holidays (20+ Ways To Save & Make Money!) if you are looking for ways to save money this holiday season.
I hope you enjoyed this list of deals and found something you can use.
Because check writing is a less popular form of payment these days, it’s easy to get confused about how the whole process works. When someone writes a paper check, there may be a carbon copy attached to the back of each check. These are known as duplicate checks.
But what exactly are duplicate checks? How do you use them, and when do you need them? Keep reading for more insight.
Key Points
• Duplicate checks are carbon copies attached to the back of paper checks, serving as a record of the payment made.
• Duplicate checks contain the same information as the original check, except the signature, and can be used for quick reference.
• Banks or reputable online check printers provide duplicate checks.
• Advantages of duplicate checks include being safer than carrying cash, ease of use, convenience, and the ability to cancel if stolen.
• Alternatives to duplicate checks include online bank accounts, digital copies, and check registers for record-keeping.
What Are Duplicate Checks?
So exactly what are duplicate checks? If you have ordered these, when you get a checkbook from your bank, you’ll see that attached to the back of each check is a thinner piece of paper known as a duplicate check.
When you write on a check to fill it out, your writing copies over to the duplicate check. In this way, the duplicate that is created can act as a record of the payment made, how much was spent, the day the check was written, and to whom the check was given.
The same information found on the duplicate check should appear in the consumer’s online account, but it can be helpful to have duplicate checks on hand to quickly reference.
How Do Duplicate Checks Work?
What is a duplicate check and how does one work? A duplicate check is attached to the bank of a normal check in the form of a thin piece of paper. This acts as a carbon copy of the original check (also known as the single check). All duplicate checks have the same check number printed on them as the original. The pressure from the check writer’s pen transfers what is written on the original check to the duplicate check.
Once you are done writing a check, you only pull the original check out of your checkbook and leave the duplicate check in the checkbook so you can reference it when and if you need to. (The original check goes to the person or business you are paying, so they can deposit it, cash it, or sign it over to someone else.) All of the information included in the payee, amount, date, and memo sections transfer over. The one area of the original check that doesn’t copy over is usually the signature. This is to protect you, the account holder, from identity theft in the event someone steals your checkbook. Basically, a duplicate check mirrors the information and can help you verify the check you just wrote. You can see all the details right there, on the carbon copy.
Are Duplicate Checks Legal?
Yes, duplicate checks are legal and simply serve as a record of a check that the account holder already wrote. Where legal issues arise is if someone were to steal a checkbook and try to use a duplicate check to gather the information they need to commit theft or bank fraud.
Where Can I Get Duplicate Checks?
If you have a checkbook, you may already have duplicate checks on hand. If not, you can order this style of checkbook from the bank or credit union where you have a checking account. It can also be possible to order checks from select reputable online check printers who may charge less than a bank does for checks.
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Single vs Duplicate Checks: What’s the Difference?
Single checks look exactly the same as duplicate checks (although the signature doesn’t transfer over to the duplicate check). The same check number is even on both checks. The main difference between single checks and duplicate checks is the thickness of the paper and that the duplicate check acts as a carbon copy of the single check.
Sometimes, a person may refer to single checks as the kind of checks that don’t have the duplicate behind them. In this case, a single check would be a “regular” check that arrived in a checkbook with no copies involved.
Pros of Duplicate Checks
Once the principle of a duplicate check is understood, you may wonder if these are right for you. Here are a few advantages of using duplicate checks.
Safer than Carrying Cash
While someone can easily steal cash out of a wallet, checks are not as simple to steal. This is especially true if you take steps to manage your checkbook well and keep it in a secure place.
Ease of Use
You don’t have to do anything to create the duplicate check thanks to the carbon copy function. No writing the check number, date, payee, and amount in your check register (unless, of course, you want to do so).
Convenience
The whole point of a duplicate check is to make staying organized and tracking former check payments easier. While most check information is available through online bank accounts, having a paper copy can act as a helpful backup.
Checks Can Be Canceled If Stolen
If you have reason to suspect a check was stolen, you can stop payment on the check before it is cashed. Again, that’s a big advantage over cash; once bills are stolen, they are gone.
Cons of Duplicate Checks
Of course, there are also some disadvantages associated with duplicate checks worth keeping in mind.
Security and Privacy Risk
Because duplicate checks have important information on them about your bank and your spending habits, it’s important not to lose a check and minimize the possibility of your checkbook getting stolen.
Cost More Than Regular Checks
Some banks or check providers charge more for duplicate checks than they do single checks.
Will Not Work Where Places Automatically Print Checks
Duplicate checks may not be easily available from all vendors. Not all check providers can create duplicate checks.
Checks Becoming More Increasingly Uncommon
Checks (including travelers checks) are becoming a less popular form of payment as people shift to online payments, electronic checks, and other options. In many cases, it may not be worth the fuss or ordering and managing a checkbook for the occasional payment.
Alternatives to Duplicate Checks
If you want to keep good records of checks you have written but don’t want to hold onto duplicate checks, you have a few options for how to proceed.
• Log in to an online bank account. Most banks and credit unions give customers an online bank account where you can access information about recent transactions including the information one would find on a duplicate check. A warning: This is not a reliable way to keep track of every check ever written as banks eventually stop sharing old transactions. But it is possible to download these statements and save them electronically.
• Make a digital copy. You can take a picture of or scan each check you write and store them digitally.
• Use a check register. To keep all information about written checks in one place, it’s possible to use a check register. These registers can be on paper or can be digital; they capture the check number, payee, when a check was written and for how much. This process can make it easy to balance, say, your high-yield checking account by copying down check-payment information and subtracting the amounts from your balance.
The Takeaway
What is a duplicate check? In short, a duplicate check is a carbon copy of a single check. Though it can’t be used to make a payment, a duplicate check makes record-keeping easier. When you write a single check, the attached duplicate check creates an automatic copy of the check that you can easily reference. While checks are in many cases losing favor, a duplicate check system can be a bonus for those who do like writing checks, as it can make keeping tabs on your account that much easier.
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FAQ
What is a single check?
A single check is the original check that the account holder writes on and gives to someone they want to make a payment to. What are duplicate checks? They are a thinner piece of paper that may be attached to the back of a single check and can act as a carbon copy of it.
What is the difference between a single and duplicate check?
For the most part, single checks and duplicate checks look the same. The main difference is that a duplicate check is a thinner piece of paper and that the signature doesn’t usually copy over from the single check to the duplicate check.
Can you cash a duplicate check?
No, it’s not possible to cash a duplicate check. Only single checks can be cashed. The duplicate check simply serves as a record of the single check.
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.
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..
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