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Apache is functioning normally

September 8, 2024 by Brett Tams

When looking for funding for your small business, there are plenty of types of loans to consider, including term loans. A term loan provides a borrower with a lump sum of cash they repay on a fixed repayment schedule.

Term loans can be helpful for businesses looking to expand, buy more real estate, update equipment, or purchase more inventory in advance.

So, what are term loans exactly? Read on to learn more about small business term loans, their advantages and disadvantages, and the different types of term loans available.

What Is a Business Term Loan?

A business term loan is a type of small business financing that provides a lump sum of money up front you then pay back over a set period of time, called a term. Payments are often monthly but could be weekly, bi-weekly, or even quarterly.

Part of each payment goes toward the principal, lowering the remaining loan balance, and part goes toward interest. Interest rates on business term loans may be fixed or variable. Repayment terms can range anywhere from 12 months to 25 years, depending on the loan amount, lender terms, and the borrower’s creditworthiness.

Term loans aren’t just used for small businesses, though. Mortgage loans, auto loans, and student loans are also all types of term loans.

What Can a Term Loan Be Used For?

Common uses of term loans for businesses include:

• Buying real estate or upgrading property you already own (the real estate would likely serve as collateral)

• Buying new equipment or repairing equipment you already own (the equipment could serve as collateral)

• Restocking inventory

• Buying vehicles for work

• Meeting payroll and other expenses

• Covering employee wages

What Are Different Types of Business Term Loans?

Most small business owners factor in two things when considering term loans — the purpose of the loan and the term length (there are short-, intermediate-, or long-term business loans).

Payments may be higher with short-term loans than long-term loans, though this depends on how much the business borrows. When considering what your business can qualify for and pay back with its available cash flow, remember to factor in how the length of your loan term affects the payment amount.

Short-Term Loans

Short-term loans typically have a length of less than one year but can extend up to 18 months. Businesses that don’t qualify for a line of credit might find short-term loans helpful. Though these loans are typically easier to qualify for, they tend to have higher interest rates.

It’s important to note that short-term loans may come with a balloon payment, meaning the last payment is much larger than the rest. Keep this in mind when deciding whether a short-term loan is right for your business.

Recommended: The Cost of Capital

Intermediate-Term Loans

Intermediate loans typically have terms between one and three years. Because of their slightly longer payoff time, they may be an option if you’re hiring a new salesperson, for instance, and know there might be some lag time before they start bringing in revenue.

Like short-term loans, intermediate business term loans may also have a balloon repayment structure.

Long-Term Loans

Long-term loans typically have terms of five to 10 years, but they may extend up to 25 years. They typically require collateral, such as real estate or equipment, and may come with lower interest rates than short- and intermediate-term loans.

Long-term loans are often more difficult to qualify for, requiring proof of revenue and a solid credit history. However, they can provide helpful capital for business investments, making them a valuable option for established businesses planning for growth.

Recommended: Merchant Cash Advance for Bad Credit

How Do Business Term Loans Work?

Once you’ve determined the amount you need to borrow and the purpose, you can approach financial institutions to explore their available programs, interest rates, and loan terms.

You’ll also want to find out what documentation you’ll need to apply, what collateral might be required, and whether they can supply the funds on your timeline. Be sure to check what small business loan fees may apply.

Once you’ve evaluated the above factors, compare multiple lenders and choose the one that suits your needs. The loan application process typically happens online, but you may be able to apply in person if the loan is through a bank.

Rates and terms offered vary based on the lender, your personal and business credit history, your time in business, and your financial health and history. Pay particular attention to whether the loans you research are secured and how the interest rates are structured:

• Secured vs. unsecured loans: Secured loans require collateral or a personal guarantee, meaning that your assets will be used as payment if you can’t pay your loan. Unsecured loans do not require this collateral and are therefore riskier for the lender, so they often have higher costs and shorter terms than secured loans.

• Fixed vs. variable interest rates: A fixed interest rate remains stable over the entirety of the term loan. A variable interest rate fluctuates throughout the life of the loan, depending on the prime rate — the rate that commercial banks charge their most creditworthy borrowers.

If you’re approved for the loan, you are free to use the funds once disbursed. From there, you’d make regular payments based on the loan agreement.

Recommended: How to Check Your Credit Score for Free

Deciding If a Business Term Loan Is Right for You

It can be challenging to decide which kind of loan is the right fit for your business. There’s a lot to consider. Here are a few questions to ask before applying:

• Why do I need funding?

• How does this help me reach my business goals?

• How healthy are my business finances?

And if any of these apply to you, it may not be time to consider term loans just yet:

• Your business is new

• You have poor credit

Business Term Loans: Pros and Cons

Like any other loan, business term loans have advantages and disadvantages that are important to consider when deciding whether they’re right for you. Below, we’ve outlined the pros and cons of term borrowing to help you determine whether term loans are a good fit.

Advantages of Business Term Loans

Pros of term loans include:

• You may be able to borrow a large amount of money.

• Multiple types of term loan programs may be available when you look at different lenders.

• Interest rates are typically lower than credit cards, payday loans, and other short-term funding options.

• As you pay the term loan back on time, you can boost your business credit score.

Note: Check with your accountant or tax professional to see what tax benefits you may realize. Term loan interest may be tax-deductible.

Recommended: What Are the Tax Benefits of a Limited Liability Company (LLC)?

Cons of Term Loans

As with any financial product, there are downsides to consider, as well. Cons of term loans include:

• You may be able to borrow a large amount of money.

• Multiple types of term loan programs may be available when you look at different lenders.

• Interest rates are typically lower than credit cards, payday loans, and other short-term funding options.

• As you pay the term loan back on time, you can build your business credit score.

Note: Check with your accountant or tax professional to see what tax benefits you may realize. Term loan interest may be tax-deductible.

Recommended: What Are the Tax Benefits of a Limited Liability Company (LLC)?

Disadvantages of Business Term Loans

Cons of term loans include:

• You may be entering into a long-term debt.

• The loan application process may take longer than you’d like.

• Some business term loans come with prepayment penalties, which means you can’t prepay to reduce the amount of interest paid over the loan’s life.

• If your credit isn’t the best, the interest rates you’re offered may not be, either.

Recommended: Debt-to-Income Ratio

How to Apply for a Business Term Loan

Assess your business goals and lenders’ eligibility requirements as you choose the best option for your company. Here’s how:

1. Compare Small Business Term Loans

Comparing lenders’ terms can help improve your chances of qualifying for a loan. That way, you don’t spend valuable time applying for options for which you’re not eligible. On top of that, it helps keep you from overpaying on rates and fees or endangering your business cash flow with a repayment schedule that’s too aggressive.

2. Look at Each Lender’s Eligibility Requirements

It’s helpful to examine these requirements side by side:

• Personal and business credit

• Time in business

• Annual revenue

• Collateral

• Down payment

• Personal guarantee

3. Scrutinize the Lender’s Fees

Also look at the fees side by side:

• Interest rate and APR

• Origination fees

• Late payment fees

• Early payoff penalty

4. Review the Repayment Schedule

Important questions to ask:

• Are payments made daily, weekly, monthly, or quarterly?

• Are payments automatically deducted from a business bank account?

Many lenders have strict repayment terms for their business term loans, meaning you need to make sure you can meet those standards. That way, you don’t overdraft your accounts, accrue late fees, or damage your credit score.

Recommended: Long-Term Small Business Loans

5. Gather the Required Documents and Apply

When applying for a loan, documents often requested by lenders include:

• Bank statements (personal and business)

• Tax returns (personal and business)

• Business legal documents, including licenses and permits

• Personal identification

• Business plan

• Revenue statements

• Accounts receivable reports

• Accounts payable reports

Because the exact documentation required varies by lender and loan type (and whether collateral is involved), you’ll need to clarify what the lender you choose will need.

Also, it can be worthwhile to explore business grants since those do not need to be paid back.

Recommended: What Are Small Business Grants?

The Takeaway

When businesses seek funding, term loans are worth considering. With a business term loan, the company borrows a certain amount of money in a lump sum and then pays it back in regular installments at either a fixed or variable interest rate. Terms can range from short (even under a year) to long (perhaps as long as 25 years), with the funds used for a variety of purposes.

If you’re seeking financing for your business, SoFi can help. On SoFi’s marketplace, you can shop top providers today to access the capital you need. Find a personalized business financing option today in minutes.

With SoFi’s marketplace, it’s fast and easy to search for your small business financing options.

FAQ

What does “term loan” mean for a business loan?

Like other term loans, a business term loan provides a borrower with a lump sum of cash they repay on a fixed schedule over the set period of time, or term. The interest rate can be either fixed or variable.

What is an example of a term loan?

An example of a term loan is a small business loan of $50,000 from a bank that has to be paid over three years in monthly payments, with fixed interest.

What are the three main types of term loans?

There are short-term, intermediate-term, and long-term loans.

Photo credit: iStock/pikselstock

SoFi’s marketplace is owned and operated by SoFi Lending Corp. See SoFi Lending Corp. licensing information below. Advertising Disclosures: SoFi receives compensation in the event you obtain a loan through SoFi’s marketplace. This affects whether a product or service is featured on this site and could affect the order of presentation. SoFi does not include all products and services in the market. All rates, terms, and conditions vary by provider.

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.

Tax Information: This article provides general background information only and is not intended to serve as legal or tax advice or as a substitute for legal counsel. You should consult your own attorney and/or tax advisor if you have a question requiring legal or tax advice.

SOSMB-Q324-020

Source: sofi.com

Apache is functioning normally

September 7, 2024 by Brett Tams

The other day I noticed that mortgage rates were being advertised at some really low levels.

Many quotes in the mortgage rate table on my own site were in the mid-5s.

That got me curious how low rates could be with a really favorable loan scenario, such as a 760+ FICO, 20% down home purchase, owner-occupied, single-family residence.

So I headed over to Zillow’s Mortgage Marketplace to see what I could come up with.

Knowing that VA loan rates are typically the lowest, I threw that in too and lo and behold, saw 30-year fixed rates that began with a “4.”

I threw the screenshot up on Twitter and simply said, “Guys, it’s not a mortgage rate story anymore.”

What Did I Mean?

The tweet got a good amount of traction, likely because of those very low 4.875% 30-year fixed rate quotes in the screenshot.

And some felt it was deceiving to post rates like that, which might not be reflective of the entire borrower universe at the moment.

After all, not everyone has a 760 FICO score or the ability to put down 20%, nor might they be eligible for a VA loan.

I also threw in two discount points, since most of the low rates advertised today require the borrower to pay some money at closing in order to obtain a “below-market” rate.

In reality, you can put nothing down on a VA loan and get the same pricing since there aren’t mortgage pricing adjustments on such loans. The same goes for having a lower FICO score.

So the loan scenario wasn’t as crazy hard to qualify for as it first appeared. And when I re-ran the scenario today you could actually get a rate of 4.75% with just one discount point.

But that wasn’t even the point I was trying to make. It wasn’t about a 4.875% rate vs. 4.75% rate, or a 5.25% rate. Or any specific rate at all.

It was that the high mortgage rate story we’ve been fixated on for the past two hours is over.

The housing market today is no longer being driven by the high rate story. We exhausted it, first being caught off guard by how quickly rates increased in early 2022.

Then wondering how high they might go, if they’d hit a new 21st century high (they didn’t!).

That was followed by pondering when they’d begin to fall again (they peaked last October and have dropped quite a bit since then).

And so it’s not about rates anymore.

If It’s Not Rates, What Is It Now?

That brings me to my point. The housing market is now at a crossroads where high mortgage rates are no longer the focus.

Most prospective home buyers today will see that mortgage rates have come down significantly.

The 30-year fixed was basically averaging 8% just before last Halloween, and today is closer to 6.25%.

As I illustrated with some mortgage rate shopping, it’s also possible to bring down that rate to the high 4% range, or the very low 5s, even for conforming loans backed by Fannie and Freddie.

This means anyone who has been pondering a home purchase during the past couple years is no longer obsessed with rates.

Instead, they’re likely considering other factors, such as home prices, the cost of insurance, their job stability, the wider economy, and even the election.

If they were looking at homes when rates were closer to 8%, they’re surely still looking with rates approaching 5% (they could be there soon without all the perfect FICO scores and discount points).

But if they’re no longer looking to buy, or they’re having doubts, it’s not because of high mortgage rates anymore. Those are no longer to blame.

Perhaps now they’re worried that asking prices are too high and could fall. Maybe they’re concerned that the economy is on shaky ground and a recession is coming.

After all, there’s an expectation that the Fed is going to cut its own fed funds rate 200 basis points over the next year.

That doesn’t exactly exude consumer confidence.

We Finally Get to Find Out!

What I’m most excited about now that high mortgage rates are old news is that we finally get to “find out.”

By that, I mean we get to see how this housing market performs in a period of slowing economic growth, with Fed rate cuts and a possible recession on the table.

Remember, the Fed wouldn’t be cutting rates if they weren’t worried about rising unemployment and a softening economy.

In other words, we’re going to see what this housing market is really made of. As I’ve said many times before, there’s no inverse relationship between mortgage rates and home prices.

One does not go up if the other goes down. And vice versa. We already saw home prices continue to rise as mortgage rates jumped from 3% to 8%.

So is it possible that both mortgage rates and home prices could fall in tandem? Sure. Granted nominal home price declines aren’t common to begin with.

But we’re finally going to put it to the test. And I’m looking forward to it.

(photo: Brittany Stevens)

Before creating this site, I worked as an account executive for a wholesale mortgage lender in Los Angeles. My hands-on experience in the early 2000s inspired me to begin writing about mortgages 18 years ago to help prospective (and existing) home buyers better navigate the home loan process. Follow me on Twitter for hot takes.

Latest posts by Colin Robertson (see all)

Source: thetruthaboutmortgage.com

Apache is functioning normally

September 7, 2024 by Brett Tams

U.S. Bank is preparing to roll out a credit card that can pay as much as 4% cash back on every purchase for banking customers who meet eligibility requirements. Flat-rate cash back credit cards tend to top out at 2% on purchases, meaning this card could be twice as lucrative as alternatives — if you qualify.

2% to 4% cash back

The U.S. Bank Smartly™ Visa Signature Card, which is currently in wait-list status, will pay a base rate of 2% on every purchase. Customers who have a Bank Smartly® Savings account and at least $5,000 in combined accounts with U.S. Bank can rack up a “Smartly Earning Bonus” on top of that rate:

If you have $5,000 to $49,999 in balances: You earn a 25% bonus on the rewards you earn, making your effective rewards rate 2.5% cash back.
If you have $50,000 to $99,999 in balances: You earn a 50% bonus on your rewards, making your effective rewards rate 3% cash back.
If you have $100,000 or more in balances: You earn a 100% bonus, making your effective rewards rate 4% cash back.

To qualify for those higher rates, a cardholder must have or open a Bank Smartly® Savings account with a minimum deposit of $25 and maintain the necessary combined balances in checking accounts, savings accounts, money market savings accounts, CDs, IRAs, U.S. Bancorp Investments and personal trust accounts. Business and commercial accounts don’t qualify, and only primary cardholders’ accounts are considered (not accounts owned by authorized users).

To determine bonus eligibility, the bank looks at your average daily combined balance for the preceding three months.

Rewards get full value when deposited

Rewards are earned as points. The base rate is 2 points per dollar, with the bonuses adding on 0.5 points, 1 point or 2 points per dollar. When you deposit your rewards into an eligible U.S. Bank deposit account, points are worth 1 cent apiece, giving you the full cash-back value of 2% to 4%. Other redemptions, including for statement credit, may result in a lower value per point.

There’s no limit on the total amount of rewards you can earn, and rewards points don’t expire unless there is no activity in the account for 12 billing cycles.

Important disclosures from U.S. Bank

Net Purchases are Purchases minus credits and returns. Not all transactions are considered to be Purchases and eligible to earn rewards, such as transactions posting as Convenience Checks; Balance Transfers; Advances (including ATM withdrawals, wire transfers, traveler’s checks, money orders, foreign cash transactions, betting transactions, and lottery tickets); interest charges and fees; credit insurance premiums; and transactions to (i) fund certain prepaid card products, (ii) buy currency from the U.S. Mint, or (iii) buy cash convertible items. Upon approval, see your Cardmember Agreement for details. Purchases qualify for rewards based on how merchants choose to classify their business and we reserve the right to determine which purchases qualify.

1. “Cash back” rewards are earned under the U.S. Bank Smartly Visa Signature® Card program. These rewards are earned as “Points”, and U.S. Bank will credit your U.S. Bank Smartly™ Visa Signature® Card with 2 “Points” for every $1 in eligible Net Purchases. You may earn additional Points for a Smartly Earning Bonus if you (i.e., either Cardmember if there is more than one):

Open ($25 minimum deposit required) or maintain a U.S. Bank Smartly® Savings account and
Have Combined Balances with U.S. Bank in checking account(s), money market savings account(s), savings account(s), CDs and/or IRAs, U.S. Bancorp Investments and personal trust account(s):
- Between $5,000 – $49,999, to earn a total of 2.5 Points per $1 (a base of 2 Points plus the Smartly Earning Bonus of 0.5 Points),
- Between $50,000 – $99,999, to earn a total of 3 Points per $1 (a base of 2 Points plus the Smartly Earning Bonus of 1 Point), or
- $100,000 or more to earn a total of 4 Points per $1 (a base of 2 Points plus the Smartly Earning Bonus of 2 Points).

Combined Balances are based on the average daily balance of the previous 3 months (calculated monthly) (or, for account(s) open less than 3 months, the average daily balance of the applicable time frame). The applicable Smartly Earning Bonus will be determined by reviewing the Combined Balances in the qualifying accounts of each Cardmember (if there is more than one) and using the total Combined Balances of the individual whose accounts have the highest total. If a U.S. Bank Smartly Card account has an Authorized User(s), the U.S. Bank balances of the Authorized User(s) will not be reviewed and will not qualify for determining the Smartly Earning Bonus. Note: Balances in business accounts, commercial accounts, and the Trustee only client relationship do not qualify. The Smartly Earning Bonus that will be applied to your Account is determined within the first 5 days of each month, which means that the bonus applied to your Account may vary during a billing cycle. The Smartly Earning Bonuses are calculated when Net Purchases are posted to your Account (which may not be the transaction date). Points will expire if there is no reward, purchase, or balance activity on your account for 12 consecutive statement cycles.

2. This card earns cash back rewards in the form of Points. To redeem as Cash Back in the values noted in this advertisement, rewards Points must be redeemed as a deposit into an eligible U.S. Bank deposit account. Other redemptions, such as statement credits and gift cards, may be at a reduced redemption rate.

Source: nerdwallet.com

Apache is functioning normally

September 7, 2024 by Brett Tams

For today’s luxury real estate buyers, renderings and floor plans just don’t cut it anymore.

While glossy sales galleries complete with model units meant to attract wealthy buyers have been the norm for years, some savvy developers are now raising the bar, offering more than just a glimpse of what life will be like in their under-construction condos.

They’re granting buyers immediate access to exclusive amenities — think private docks, golf courses, and even concierge healthcare services — well before the homes are move-in ready.

And for buyers, the chance to “test-drive” these perks long before they settle in offers the ultimate in instant gratification.

Like Fancy Pants Homes’ content? Be sure to follow us on Google News

Million-dollar perks for buyers to enjoy before their luxury condos are even built

Photo credit: Binyan Studios / Olara

For example, one West Palm Beach condo is completing a dock on the Intracoastal Waterway this summer. The idea is for buyers to have the opportunity to get on the water and enjoy the excursions and seafaring experiences now, well in advance of the completion of their condo.

Down in Miami, another condo development is bundling residence purchases with golf access and other social memberships so their future residents can dine at the property’s onsite restaurant and watch their tower rise over the Greg Norman-designed, 18-hole championship golf course — which is already open for those who’ve signed on to buy condos in the building.

In West Palm Beach, a luxe condo building is attracting residents with wellness-centered amenities

Photo credit: Binyan Studios / Olara

Olara, a 275-unit luxury condo building that’s currently under construction in West Palm Beach, is already making some of its upscale amenities available to future residents.

Once completed, the 26-story waterfront building will offer an impressive suite of amenities, including a private marina, a 30,000-square-foot celebrity chef-helmed restaurant, and a wealth of wellness-centered amenities. That includes a world-class fitness center designed by The Wright Fit, large indoor and outdoor fitness spaces (like an open-air yoga deck and performance training zones), sauna, steam, and treatment rooms, meditation spaces, and so much more.

And while many of the spaces are still being built, Olara buyers already have access to a select number of amenities.

“Even while construction is underway, future residents of Olara can enjoy a number of amenities and services before move-in,” says Andrew Kurd, Co-Chief Investment Officer at Savanna, the company behind the luxury condominium project.

Olara has been seeing great feedback so far from buyers

Photo credit: Binyan Studios / Olara

Future Olara residents have already started taking advantage of their complimentary membership with Sollis Health, the premier healthcare concierge. They have access to both Sollis’ flagship location in the Palm Beach area and the health provider’s other locations around the country. And the response so far has been positive, Kurd tells us:

“Life at Olara is centered around a wellness-focused residential experience, and we’ve heard so many positive testimonials so far from buyers who have already begun taking advantage of their complimentary membership with Sollis Health through our exclusive partnership.“

“With so many different locations across the country including a convenient Palm Beach site, they have the services and expertise of some of the most highly acclaimed medical professionals at their fingertips, whether they need a flu shot or last-minute doctor visit.”

The private dock is almost complete

Photo credit: Binyan Studios / Olara

Soon to add to the list of ready-to-enjoy amenities is a dock on the Intracoastal Waterway that’ll allow Olara buyers to get on the water and enjoy the excursions and seafaring experiences now, well before their condo is even completed.

“We’re currently also on track to complete our private dock, which will include resident-only boat slips and two boats for exclusive use by residents right on the Intracoastal Waterway, and once it’s finished in the fall, it will serve as yet another ‘early’ amenity for our residents since they’ll be able to frequent the dock for private excursions such as fishing and even seafaring experiences to Palm Beach Island,” Andrew Kurd tells us.

“They’ll also appreciate being able to watch their future home rise from our boat on the water as it becomes part of West Palm Beach’s cityscape,” he added.

Over in Miami, another luxury condo building is banking big on golf

Photo credit: Shell Bay

Shell Bay, a world-class, 150-acre enclave in the Miami region, is taking a similar approach.

While their newest development, The Residences at Shell Bay — a 20-story, 108-residence condominium tower designed by famed Miami-based architect Kobi Karp — is currently being built, select luxe amenities are already being offered to buyers. And they’re banking on golf to attract residents.

Norma-Jean Callahan, Executive Director of Luxury Sales for The Residences at Shell Bay, explains:

“In South Florida, the undersupply and growing demand for golf has been well documented over the past few years. A last-of-its-kind opportunity, Shell Bay will be delivering the only new private course in 25 years to the Miami area with an 18-hole, Greg Norman-designed championship course,” Callahan says in an exclusive quote for Fancy Pants Homes.

Shell Bay buyers get instant access to the golf club — which includes a Greg Norman-designed championship course

Photo credit: MARCH / Shell Bay

“Once buyers have signed contracts for their residence and Golf Membership, they’ll gain instant access to our Golf Club including our training facilities while construction for the forthcoming Residences at Shell Bay is still underway,” Norma-Jean Callahan tells us.

“They can watch their future condo rise during each week’s round of golf.”

Shell Bay’s 18-hole, Greg Normal-designed Championship course is one of the longest in South Florida and also features a two-acre practice facility, including a nine-hole par three course.

But there are so many more perks to enjoy

Photo credit: Shell Bay

Other sporting and recreational amenities apart from the golf course include a private yacht club with a 48-slip marina and a premier racquet club including four Grand Slam tennis courts, pickleball courts, padel courts, a basketball court, batting cages, and a children’s discovery playground, among many other top-tier amenities.

“Shell Bay also offers access to other elevated amenities and services such as its Yacht Club featuring a private marina, a Racquet Club with all four Grand Slam surfaces with Pickle and Padel courts, and an Auberge spa,” says Callahan.

“Our future residents can enjoy comfort food favorites and signature weekly rotating dishes from our private, members-only restaurants helmed by Michelin-starred Chef Julien Jouhannaud.”

More stories

Luxury real estate flourishes amid Boca Raton’s economic boom

What the most expensive house in the U.S. could look like: the $295M Gordon Point estate in Naples, Flordia

26 Jaw-dropping Miami-area mansions that will make you want to move to Florida

Source: fancypantshomes.com

Apache is functioning normally

September 6, 2024 by Brett Tams

Here are the top 10 markets for VA loan buyers, ranked in order: Tampa-St. Petersburg-Clearwater, Fla. San Antonio-New Braunfels, Texas Cleveland-Elyria, Ohio Rochester, NY Buffalo-Cheektowaga, NY St. Louis, Mo. Detroit-Warren-Dearborn, Mich. Birmingham-Hoover, Ala. Providence-Warwick, R.I.-Mass. Houston-The Woodlands-Sugar Land, Texas. “As home prices continue to rise and with interest rates double what they were just two … [Read more…]

Apache is functioning normally

September 6, 2024 by Brett Tams

Are you looking for the best side hustles for moms? Being a mom is a full-time job, but that doesn’t mean you can’t make extra money on the side if you need to. Balancing work and family life can be tough, but finding a side hustle that fits your schedule can make it easier. Whether…

Are you looking for the best side hustles for moms?

Being a mom is a full-time job, but that doesn’t mean you can’t make extra money on the side if you need to. Balancing work and family life can be tough, but finding a side hustle that fits your schedule can make it easier.

Whether you need to make money to pay the bills, if you’re looking to save for a vacation, or if you simply want to save more money, there are many side hustles that may fit what you’re looking for.

I am a mom and I have done many of the side jobs listed below. Some can be part-time, others full-time, so there is probably something on the list below that can work for you.

Best Side Hustles for Moms

Below are the best side hustles for moms.

1. Blogging

Blogging is a great way for moms to make money from home. It is what I personally do so that I can work from home and spend more time with my daughter.

For me, blogging lets me travel whenever I want, work on my own schedule, make good money, write about topics I enjoy, and I really love having a blogging business.

I started Making Sense of Cents in 2011, and since then, I’ve made over $5,000,000 from my blog. When I began, I had no idea it would turn out to be one of the best jobs for stay-at-home moms. Now, I am extremely grateful for this – and it all started as a side hustle!

One way to earn money with a blog (and this is my favorite way) is through affiliate marketing. This means you recommend products and get paid when someone buys through your link. It’s like earning a commission for sharing products you use and enjoy.

Another way to make money is by placing ads on your blog. As your blog gets more visitors, you can earn money from the ads.

Writing sponsored posts is another option. Companies pay you to write about their products or services (it’s a good idea to choose products that you believe in and that fit your blog’s theme).

Blogging takes time and effort, but it can be very rewarding. You get to be creative, connect with others, and make money doing something you love.

You can learn more about how to begin in my free How To Start a Blog Course here.

2. Sell printables

Selling printables on Etsy can be a great side hustle for moms. You can make extra money by creating and selling digital items like planners, calendars, and worksheets.

All you need is a computer and some design software, and you can work on it at your own pace and from the comfort of your home.

You don’t have to spend any money to start selling printables either.

This is a great way to make money from home because you only need to create one digital file for each product, and you can sell it as many times as you want. You don’t have to print or ship anything. Instead, you create the digital file, and the customer downloads it and handles the rest after buying it from you.

You can learn more at How I Make Money Selling Printables On Etsy.

Do you want to make money selling printables online? This free training will give you great ideas on what you can sell, how to get started, the costs, and how to make sales.

3. Proofreading

Proofreading is a great way to make some extra money from home. If you have an eye for detail, you can get paid to spot errors in text.

You don’t need a special degree to start proofreading. Many online companies hire beginners and this means you can get started without lots of experience. Plus, you can build up your skills and portfolio as you go.

The pay can vary. Some proofreaders earn $1,000 a month, while others make six-figure incomes. It depends on how much you work and your experience level. You can do this full-time or just as a part-time gig.

I know several proofreaders (who are moms) who started proofreading as a side hustle, and now it’s their full-time job. So, you can spend as little or as much time as you want growing this job.

You can learn more at 20 Best Online Proofreading Jobs For Beginners (Earn $40,000+ A Year).

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This free training teaches you how to start a proofreading side hustle (and how to earn $1,000+ per month!), even if you are brand new and don’t have any previous proofreading experience.

4. Bookkeeping

Bookkeeping is a great side hustle for moms. It’s flexible and can be done from home.

Bookkeepers keep track of financial records for businesses. This includes recording transactions and balancing accounts.

Before you pass this by because you think you’re not qualified, you might be surprised to know that you don’t need to be an accountant or have any experience. Becoming a virtual bookkeeper is something you can learn from home.

You can learn more at How To Find Online Bookkeeping Jobs.

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This free training will show you how to start a profitable bookkeeping side-hustle in the next 30 days—even if you have no prior experience!

5. Print-on-demand

Print-on-demand is a great side hustle for moms.

You can create your own designs and sell them on items like T-shirts, coffee mugs, and tote bags. Websites like Etsy make it easy to set up your own shop.

There’s no need to buy supplies or handle shipping. The print-on-demand company (like Printify) takes care of that for you. This means you can focus on being creative and taking care of your family.

Many moms find this side hustle to be simple and rewarding. You can work on it during nap times or after the kids go to bed. If you love designing, this can be a perfect fit for you.

You can learn more at How I Make $1,500 Monthly With My Print-On-Demand Business.

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This freebie will teach you about print-on-demand as well as give you a list of 17 hot-selling products you can sell via print on demand.

6. Run a dog treat bakery

Starting a dog treat bakery can be a fun and profitable side hustle. You can begin this business right from your kitchen so it’s perfect for moms looking to make some extra money.

This side job can be very flexible. You can choose to keep it small and earn $500 to $1,000 a month. Or, if you have more time, you can scale it up and make even more.

You can learn more at How I Earned Up to $4,000 Per Month Baking Dog Treats (With Zero Baking Experience!).

Plus, you can sign up for this free training workshop that teaches you the small business plan for starting your own pet bakery.

7. Online survey taker

If you’re a mom looking to make some extra money from home, taking online surveys could be a side hustle.

Companies pay for your opinions on their products or services, which helps them improve and stay competitive. This side hustle is flexible, allowing you to fit it around your busy schedule, whether during nap times or after the kids go to bed.

No, you will not get rich taking surveys (this is not a lucrative side hustle, but it is very flexible!), but you may be able to earn around $50 to $100 per month by answering several surveys each week.

Surveys are almost always done online, and you’ll usually be answering multiple-choice questions or typing in quick answers about your daily life, like where you last shopped. To get started, you can sign up for several survey sites.

Some popular survey sites include:

American Consumer Opinion
Survey Junkie
Swagbucks
InboxDollars
Branded Surveys
Prime Opinion
Five Surveys
PrizeRebel
IncomeFindr
User Interviews

While some surveys pay just a few cents, others can pay up to $20 or more, depending on how detailed and complex they are. This makes it a convenient way for moms to earn a little extra income in their spare time.

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Swagbucks is a site where you can earn points for surveys, shopping online, watching videos, using coupons, and more. You can use your points for gift cards and cash.

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Once you complete five surveys, you’ve earned $5, which you can cash out using the payout options offered by the site (such as PayPal cash and free Amazon gift cards).

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Prime Opinion is a survey website that helps people to earn extra money by sharing their opinions at home. It’s a simple survey site to use: you share your thoughts, and they pay you for them.

8. Virtual assistant

A virtual assistant (VA) can do many tasks from home and this is a popular side hustle idea for moms. They may manage emails, set up appointments, create social media posts, handle customer service, and more. Many small businesses need help with these jobs.

Becoming a VA doesn’t require a lot of training. You just need good organizational skills and a reliable internet connection.

A big advantage of being a VA is flexibility. You can set your own hours and work when it’s best for you, so this makes it a perfect side hustle for busy moms.

You can learn more at Best Ways To Find Virtual Assistant Jobs.

9. Social media manager

Being a social media manager is a great side hustle for moms.

Many businesses need help with their social media accounts because they don’t have the time to keep up with posting and replying to messages, or they simply don’t have the expertise.

Tasks might include creating posts, scheduling them, and interacting with followers. Social media managers might also run ads and analyze their performance.

It’s a flexible job you can do from home, making it perfect for busy moms.

10. Affiliate marketing

Affiliate marketing is a great way for moms to make extra money.

With this side hustle, you promote products or services online. When someone buys through your link, you earn a commission.

You can get started by choosing products you like and trust. This makes it easier to talk about them. People will feel your enthusiasm and trust your recommendations.

Many moms start with their own blogs. You can write about things you know and enjoy. Topics like parenting, cooking, or fashion are good choices. You can add affiliate links in your blog posts where they fit naturally.

Social media is another place to use affiliate marketing. Sharing links on Instagram, Facebook, or Pinterest can reach a lot of people.

Affiliate marketing is flexible. You can do it at your own pace and schedule, so this is perfect if you have kids and need to work around their needs.

For me, I love affiliate marketing and I think it’s one of the best ways to make money online. I especially like how I can do work up front and make money years down the line from older blog posts. So, it is kind of like a form of semi-passive income.

If you want to learn more about affiliate marketing, I recommend signing up for Affiliate Marketing Tips For Bloggers – Free eBook.

11. Online tutoring

Online tutoring is a great side hustle for moms. You can teach different subjects from your own home and this flexible job allows you to set your own hours.

If you love math, science, or another subject, there are students looking for help. You don’t need to be a certified teacher, but having a good grasp of the subject is important.

Online tutoring also pays well. Average rates can range from $10 to $30 per hour, depending on the subject and your experience.

12. Pet sitting and dog walking

If you love animals, pet sitting and dog walking could be the perfect side hustle for you.

Pet sitting is when you look after a pet while the owner is away. This could mean feeding, playing with, and sometimes even staying overnight with the pet.

Dog walking is a bit different. You take dogs for walks, making sure they get exercise and fresh air.

Both of these jobs are flexible. You can take on as many or as few clients as you want. This makes it easy to balance with other responsibilities.

My husband’s mother is a dog walker and pet sitter on Rover (the popular dog walking app), and it always seems like she loves this side hustle. She really likes dogs, so it looks like fun to me.

You can learn more at 7 Best Dog Walking Apps To Make Extra Money.

13. Sell handmade crafts

Selling handmade crafts is a fun and creative way to make money as a mom. You can use your skills to create unique items that people love.

There are many types of crafts you can sell. Items like handmade jewelry, painted mason jars, or knit blankets can be very popular. If you’re good at sewing, you can make and sell upcycled clothing or custom pieces.

Selling classes or workshops is another option. If you’re skilled at a particular craft (like knitting), teaching others can be a rewarding side hustle.

You can learn more at 16 Best Things To Sell On Etsy To Make Money.

14. Transcribing

Transcribing is a great side hustle for moms working from home. This is where you transcribe audio files into text for clients.

To start, you only need a computer and good listening skills. Some companies hire beginners, so you don’t need experience.

The pay can vary. Some jobs pay per audio minute, while others pay per audio hour. Usually, though, you can make around $10 to $20 per hour.

Platforms like Rev, Scribie, and CrowdSurfWork are good places to begin.

Transcribing can be done at any time of day, making it flexible for moms. This makes it easy to fit around your family’s schedule.

You can learn more at 18 Best Online Transcription Jobs For Beginners To Make $2,000 Monthly.

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In this free training, you will learn what transcription is, why it’s a highly in-demand skill, who hires transcriptionists, how to become a transcriptionist, and more.

15. Photography

Photography can be a great side hustle for moms, and I personally know a few photographers who have very successful photography careers and are also mothers!

This is something you can learn, such as by shadowing another photographer or by taking classes in person or online. As you get better, you can sell your services to others. Portrait photography is a popular choice, such as with taking photos of families, kids, or even pets.

Event photography is another option. Birthdays, weddings, and parties usually need a photographer.

You can also sell your photos online. Websites like Shutterstock or Etsy allow you to earn money from your images. This way, you can work from home and on your own time.

You can learn more at 18 Ways To Get Paid To Take Pictures.

16. Clean homes

Cleaning homes can be a good side hustle if you enjoy tidying up. Many people need help keeping their houses clean but don’t have the time to do it themselves.

You can set your own hours, making it easy to fit into your daily schedule. You can start by selling your cleaning services to friends and family. Once you get some experience, you can expand your client base.

You don’t need much to start. Basic cleaning supplies and a positive attitude can go a long way. You can also charge by the hour or by the job, whichever works best for you and your clients.

I know several mothers who clean homes in their free time, and they like how they can find homes to clean that fit into their schedule (so, it can be flexible!).

17. Baby equipment rental

Renting out baby equipment can be a great way for moms to make extra cash. Many mothers likely already have a bunch of different baby items at home, so they can make money with them when they are not being used.

Platforms like BabyQuip help connect you with families who need baby gear when they travel. You can rent out items such as strollers, cribs, car seats, and even toys.

You earn money based on how often your items are rented. The more popular the equipment and the busier the travel season, the more you could earn.

Some top providers make over $10,000 a month by renting out baby gear (at this level, they are definitely buying things with the sole purpose of renting them out, though, and not just renting out things they have just laying around their homes).

18. Book author

As a mom, becoming a book author can be a great side hustle. You get to share your stories or knowledge while working from home.

You can write about anything that interests you. Whether it’s a children’s book, a novel, or a guide on something you know a lot about, there’s a place for your work. You could even write romance novels!

Income from book sales can vary. New authors might see $0 to $500 a month, while experienced authors can make between $1,000 and $10,000 per month.

Writing a book does take time and effort. You might need to write during nap times, after the kids go to bed, or when they are in school.

19. Real estate agent

Becoming a real estate agent can be a great side gig for moms. You get to help people buy, sell, or rent properties. You can set your own hours, which is perfect for balancing work and family time. Plus, the more properties you sell, the more money you can make.

You can start part-time and grow your business as you gain experience. Real estate agents usually earn commissions, so your income can vary. It’s possible to earn a lot if you work hard and build good relationships with your clients.

20. Travel agent

Being a travel agent from home is a great side hustle for moms. You help people plan their trips, find the best deals, and book their vacations.

It’s ideal for moms who love to travel and know how to find great deals. If you have experience planning trips, this can be a rewarding way to earn money.

21. Freelance writing

Freelance writing is a great side hustle for moms, and I think it’s one of the most realistic jobs for stay-at-home moms. It lets you work from home on your own schedule, so if you love to write, this could be a perfect fit.

You can write many things like blog posts, articles, or website content. The pay can start from around $50 per article but can go up to over $1,000. As you gain more experience, you might earn even more.

One big advantage of becoming a freelance writer is the flexibility. You can work when your kids are napping or busy with activities. This makes freelance writing great for busy moms.

You don’t need a lot to start either, which is nice. A computer and internet connection are enough.

I have been a freelance writer for years, and I think it’s a great way to make money as a mom.

You can learn more at 14 Places To Find Freelance Writing Jobs – (Start With No Experience!).

Time Management Tips for Moms

As you may have noticed above, there are a lot of different side hustles for moms.

But, how can you fit them into your already busy schedule?

I get it. Being a mom is hard work, and you may feel scattered already.

Managing time can be tough for moms who have a lot to handle. Here are some simple tips to help you stay organized and use your time wisely.

Creating a schedule

I recommend that you start by creating a weekly schedule. Write down everything you need to do, like work, family time, and personal tasks. You may want to use a planner or a digital app to keep it all organized.

Then, allocate specific times for your side hustle. It could be during your child’s nap time or after they’ve gone to bed. Consistency helps in sticking to your plan.

Don’t forget to schedule some “me time.” Whether it’s reading a book or going for a walk, taking breaks can help you recharge.

Review your schedule at the end of each week. Adjust what didn’t work and keep improving. This way, you’ll find a rhythm that suits you best.

Balancing work and family

Balancing work and family is important. I recommend that you set clear boundaries between work time and family time. Let your family know when you’ll be working on your side hustle so they can respect that time.

You may want to find activities for your children that don’t need constant supervision. This can give you pockets of time to focus on your tasks.

Another way is to prioritize tasks based on importance. Use to-do lists to keep track of what needs to get done. Tasks with tight deadlines should come first. For me, I have a constant to-do list on my phone, and I find that helps me remember everything as well as prioritize everything that I have going on.

To balance work and family, you will want to remember to have family activities. Movie nights or game days can strengthen family bonds and make up for the time you are working. Quality time with family is just as important as work.

Time management is about finding balance and being flexible. What works for one mom might not work for another, so keep adjusting until you find what works best for you.

Frequently Asked Questions

Below are answers to common questions about side hustles for moms.

How can moms make money on the side?

There are many ways for moms to make money on the side, such as starting a blog, selling handmade crafts, selling printables on Etsy, proofreading, bookkeeping, freelance writing, tutoring, dog walking, photography, and more.

What are some flexible ways for moms to earn money at home?

There are many ways for moms to earn money from home. They could start a bookkeeping business, sell online courses, start a blog, transcribe, or even work with print-on-demand services to sell custom-designed items.

Can you list creative side jobs for stay-at-home moms?

Some creative side jobs for moms include blogging, making and selling printables, baking (and selling) dog treats, graphic design, voice-over work, and starting a YouTube channel.

How do working moms find time for side jobs?

Working moms can find time for side jobs by finding small pockets of time during the day, like when the kids are napping or after they go to bed. Using a planner can help organize your time and set achievable goals to keep on track.

What’s the easiest side hustle for moms with no previous experience?

Taking online surveys or becoming a virtual assistant are great options for moms with no prior experience. These jobs are easy to start and require little to no training.

How can a stay-at-home mom make $2,000 a month?

To make $2,000 a month, a mom could sell multiple services like bookkeeping, proofreading, or selling a range of products such as printables and crafts. Combining several side hustles can help you reach this goal. Or, you could focus on a single side job and spend more time on it.

How can a SAHM be financially independent?

A mom can definitely become financially independent. This is possible by diversifying their income streams. They can sell products online, sell freelance services (like writing or bookkeeping), or even invest some time into building a successful blog or YouTube channel.

How To Find Side Hustles for Moms – Summary

I hope you enjoyed this article on the best side hustles for moms.

Finding the right side hustle can make a big difference for moms who want to earn extra money while still focusing on their families.

Many of the side hustles for moms above have a lot of flexibility, the chance to work from home, and the opportunity to do what you love.

Whether you start a blog, sell handmade crafts, or become a virtual assistant, there’s a side hustle that can fit into your busy life.

What do you think are the best side hustles for moms?

Recommended reading:

Source: makingsenseofcents.com

Apache is functioning normally

September 5, 2024 by Brett Tams

A new paper from Yale professor Kelly Shue argues that consumers mistakenly wait to take out mortgages and other long-term loans when the Fed is expected to cut rates.

Their confusion seems to be related to conflating short-term and long-term rates, which don’t necessarily move in tandem.

In fact, short-term rate moves are typically already baked in to long-term rates, meaning there’s no need to wait until the cut is official for an even lower interest rate.

The savings of short-term rate cuts should already be reflected in the interest rate of a long-term loan such as a 30-year fixed mortgage.

Despite this, home buyers and even professional forecasters tend to get this wrong according to the research.

Short-Term Rates vs. Long-Term Rates

Consumers have long misunderstood the relationship between the Fed and mortgage rates.

Many incorrectly believe that the Fed directly controls mortgage rates. So when the Fed announces a rate cut, prospective home buyers expect mortgage rates to come down as well.

For example, the Fed is widely expected to lower its fed funds rate by 25 (or maybe 50 basis points) at its September 18th meeting.

When this takes place, there will be a slew of articles written about how “mortgage rates fall” and the like.

Some may even assume that the 30-year fixed fell by the same amount, whether it’s 0.25% or .50%.

So if the 30-year fixed was 6.50% the day before the meeting, a hypothetical home buyer might think the going rate is 6.25% or even 6% the next day.

In all likelihood, they’ll probably be disappointed if and when they speak to their loan officer or mortgage broker.

Chances are mortgage rates won’t budge much at all. And perhaps worse, they could actually rise after the Fed announces a rate cut!

This all has to do with short-term and long-term rates, with the fed funds rate a short-term rate and the 30-year fixed a long-term rate.

While they can impact one another, there isn’t a direct correlation. This is why you don’t hear mortgage rate experts telling you to use the fed funds rate to track mortgage rates.

Instead, the 10-year bond yield is a good way to track mortgage rates, since historically they have a very strong correlation.

Simply put, they are both long-term rates and function fairly similarly because many home loans are paid off in a decade or so despite being offered a full 30 years .

Should You Wait for the Fed to Cut Rates Before Refinancing (or Buying a Home)?

That brings us to consumer behavior surrounding rate cuts and hikes. Before we talk about rate cuts, which are finally on the table, let’s talk about rate hikes.

When the Fed is expected to hike rates, people tend to rush out and lock their loan before rates go up even more.

The researchers, which include Professor Shue, Richard Townsend, and Chen Wang, argue that this too is “a mistake.”

They note that knowing “that the Fed plans to gradually increase short rates does not mean that long rates will gradually increase in tandem.”

Conversely, they say “the long rate jumps immediately in response to such an announcement,” meaning there isn’t a rush to lock your rate before the Fed acts.

Now when we flip the script and consider a rate cut, the same logic applies. If you’re waiting to buy a home or refinance your mortgage due to an impending rate cut, it might be a mistake.

The Fed rate cuts are mostly telegraphed in advance and known to market participants. So there won’t be a big surprise on the day of the announcement that leads to a significant improvement.

At least not with regard to the rate cut announcement itself. This is why mortgage rates often defy logic on the day Fed announcements take place.

Sometimes the Fed raises its rate and mortgage rates fall. And sometimes the opposite happens.

And again, this is due to the disparity between short-term and long-term rates.

What About Long-Term Monetary Policy?

While I agree with the researchers on the point of short-term rate cuts already being baked in to longer-term rates like 30-year mortgages, there’s one other thing to consider.

The expected long-term monetary policy of the Fed. If they are just beginning to cut short-term rates, there is a chance long-term rates continue to improve over time.

I know, the researchers already debunked this with their talk about gradually increasing rates, saying people “fail to recognize that the current long rate already reflects future expected changes in short rates.”

And at the moment, the consensus is for the Fed to cut rates 200 basis points or more over the next year, per CME.

By the September 17th, 2025 meeting, the fed funds rate could be in a range of 3% to 3.25%, down from 5.25% to 5.50% currently.

Sure, you could argue that this too is somewhat baked in to long-term rates at the moment, but there’s still a degree of uncertainty.

If and when the Fed does actually begin cutting rates, instead of merely hinting at it, we could see longer-term rates trickle down further.

Of course, that will depend on economic data and things like inflation and unemployment, which will only reveal themselves over time.

But if you look at the rate tightening cycle, which involved 11 Fed rate hikes between early 2022 and mid-2023, you’d see that mortgage rates kept getting worse and worse.

Granted that too was driven by the underlying economic data, namely out-of-control inflation.

Still, the 30-year fixed surged from roughly 3% in early 2022 to around 8% during that span of time. So those who did go out and lock their rate ASAP were rewarded.

Even someone who chose to take out a 30-year fixed in March 2022 was able to snag a ~3% rate versus a rate of nearly 6% by as early as June of that same year.

In other words, what the Fed has already indicated might be baked in to rates today, but what we’ve yet to find out could push rates even lower as time goes on.

There’s no guarantee mortgage rates will continue to decrease from here, but it’s decently likely if economic data continues to come in cold.

Before creating this site, I worked as an account executive for a wholesale mortgage lender in Los Angeles. My hands-on experience in the early 2000s inspired me to begin writing about mortgages 18 years ago to help prospective (and existing) home buyers better navigate the home loan process. Follow me on Twitter for hot takes.

Latest posts by Colin Robertson (see all)

Source: thetruthaboutmortgage.com

Apache is functioning normally

September 4, 2024 by Brett Tams

Looking to get some extra cash from your old electronics? You’re not alone! Many people have used electronics lying around, and selling them can be a great way to make some extra income. Plus, finding the best places to sell used electronics is also a great way if you need to make money fast, such…

Looking to get some extra cash from your old electronics? You’re not alone! Many people have used electronics lying around, and selling them can be a great way to make some extra income.

Plus, finding the best places to sell used electronics is also a great way if you need to make money fast, such as if you are looking to make money in one day.

There are many places where you can sell your used electronics quickly and easily. Whether you’re upgrading your tech or just decluttering, finding the right platform is key to getting the best value. You’ll want to know where to go and what to expect to make the process smooth and profitable.

I have sold many of my used electronics over the years, including a cell phone, a laptop, and a camera. And, there are many more you can sell as well, such as gaming systems, smart watches, fitness trackers, headphones, speakers, and tablets.

Best Places To Sell Used Electronics

Below are the best places to sell used electronics.

1. Decluttr

Decluttr might be the perfect solution for you if you want to sell electronics online instantly as this is one of the best selling apps for electronics. You can trade in your devices like phones, game consoles, iPads, tablets, MacBooks, DVDs, and more.

I have personally sold a cell phone on Decluttr and I found the process to be very easy, and that is why this is my top choice if you are looking to sell your used electronics easily and hassle-free.

To sell on Decluttr, you just head to the Decluttr website and answer the prompts about what you would like to sell. They will want to know the type (phone, gaming console, laptop, etc.), the condition (they accept items in “Excellent,” “Good,” and “Poor” conditions), the storage capacity, and more.

Decluttr will then give you a price and you’ll be given a shipping label if you accept. You will then have to find a box to put the item in.

Once Decluttr receives and processes your items (usually the next day after receiving them), you’ll get paid by direct deposit or PayPal.

Decluttr also accepts broken electronics. Even if your device is water-damaged or has cosmetic issues, you can still sell it by marking the condition as “Poor.”

You can check out Decluttr by clicking here.

2. Gazelle

Gazelle is a popular option if you want to sell your used electronics quickly and easily. They buy a variety of devices including iPhones, Samsung Galaxy phones, iPads, and more.

To get started, tell Gazelle about your device. They will give you an estimated price. If you accept, you send your device to them for free.

Once Gazelle gets your device, they inspect it to make sure it matches what you described. After that, you get paid quickly. This process is simple and fast, which makes it convenient for many sellers.

You can check out Gazelle by clicking here.

3. Amazon Trade-In

Amazon Trade-In is a simple way to sell your old electronics if you are just learning how to sell your stuff. You can get an Amazon gift card or a promotional discount for your device. The process is quick, and you can do it online.

Amazon accepts many types of electronics like phones, tablets, and smartwatches and from brands like Amazon, Apple, Samsung, Microsoft, Google, Sony, Arlo, Foscam, NETGEAR, Bose, ASUS, TP-Link, and more. You answer a few questions about your item, and then Amazon gives you an estimate.

If you agree with the estimate, Amazon provides a free shipping label. You can mail your device or drop it off at a participating location.

Once Amazon gets your device, they will verify its condition. If it matches what you described, you get your gift card or discount. If the condition is worse than expected, you can choose to have the device returned or accept a lower value.

Amazon offers Instant Payment for some trade-ins. This means you get your gift card right away. If you don’t qualify for Instant Payment, you will get your gift card once Amazon processes your device, which can take up to 15 business days.

4. Apple Trade In

I recently traded in my old laptop to Apple and made around $300 for a laptop that was around 5 years old (and was actually broken with a flashing screen). I did it all right on the Apple website and it was very easy to sell.

Apple Trade In lets you trade your old device for credit toward a new one. You can do this either online or at an Apple Store. If your device isn’t worth any money, no worries. Apple will still recycle it for free.

You can trade in an iPhone, iPad, Mac, or Apple Watch.

You can use trade-in credit toward a purchase or get an Apple Gift Card. I was buying another laptop, so I just got store credit and put it toward my purchase.

Now, you may be wondering if your data and privacy are safe if you’re selling your laptop (which probably has a lot of passwords and documents that you would like to keep secure). Apple makes sure that your data is safe throughout the process, and they guide you on how to back up and erase your data.

5. eBay

I have sold many, many items on eBay over the years, from clothing to electronics and more.

EBay is a great place to sell your used electronics because it’s a huge marketplace with millions of buyers.

You can list almost any device, from old phones to gaming consoles. The auction format can help you get the highest price for your items.

Creating a listing is simple on eBay and you just add photos, describe your item, and set your price. You can also choose to sell at a fixed price if you don’t want to wait for an auction to end.

Now, eBay does have a cost. They charge fees for listing and selling items, so you’ll want to be sure to check their fee structure to understand how much you’ll pay.

6. Best Buy Trade-In

Best Buy’s Trade-In program is a great way to get rid of your old electronics and earn some store credit. They accept a wide range of devices, like phones, tablets, game consoles, and more.

Once you bring in your used electronics, they will evaluate them and give you a Best Buy gift card in return. You can use this gift card to shop for new electronics or accessories at any Best Buy store or on their website.

You need to be at least 18 years old to take part in this program. If you live in Alabama or Nebraska, you need to be 19 years old.

Best Buy also offers convenient options for trading in your devices. You can bring your items to a store or use their website to get a trade-in estimate and mail your items for free. This makes it easy to trade in your devices from the comfort of your home.

7. Swappa

Swappa is a popular choice if you want to sell your used electronics. It’s known for being safe and easy to use. You can sell phones, laptops, tablets, and more.

One of the best things about Swappa is that you deal directly with other users. There is no middleman, which means you can get more money for your items.

All you have to do is create a listing, similar to how you would with eBay.

8. Facebook Marketplace

Facebook Marketplace is a great place to sell your used electronics near you. It’s easy to use and connects you with buyers in your local area, and you can sell items like phones, laptops, cameras, and video game consoles.

One of the best things about Facebook Marketplace is the convenience. You just need to take a few pictures of your item, write a short description, and set your price.

You can also reach many potential buyers quickly since Facebook has millions of users, so this increases your chances of selling your electronics fast and at a good price.

For safety, I do recommend that you meet buyers in public places during the daytime. You are selling electronics after all, so it could be something that someone may want to steal. Many people will meet in a police department parking lot to make sure everything is safe.

9. OfferUp

OfferUp is a popular app where you can sell your used electronics and it’s easy to use, plus you can list almost anything, from phones to TVs.

With this site, you will have to create a listing, along with a description and a price. Buyers can then make offers or ask questions directly through the app.

OfferUp merged with Letgo, which means more potential buyers see your listing. The app also has a rating system for both buyers and sellers and this helps you know who you are dealing with.

You can choose to meet buyers in person or ship the item. OfferUp gives you the flexibility to decide what works best for you. Remember to meet in a public place for safety if you choose the in-person option.

10. Craigslist

Craigslist is a great place to sell your used electronics. It’s free to list your items, which means you get to keep all the money from your sale. No hidden fees!

I have sold many items on Craigslist, and like Facebook Marketplace, I recommend that you meet somewhere safe, such as a police department parking lot.

One of the best things about Craigslist is its simplicity. You just need to create an account, write a quick description, add a few photos, and set a price.

Many people use Craigslist because it’s local. Buyers can arrange to meet you in person, which can be safer and faster than shipping items.

Also, you will want to watch out for scammers. If a deal seems too good to be true, it probably is. Trust your instincts and avoid sharing any personal information. There are a lot of scams on Craigslist, unfortunately.

11. Gizmogo

If you want to sell your used electronics, Gizmogo is a good choice. They make the process quick and easy, and you can get an instant quote online by entering your device’s details.

Gizmogo pays competitive prices for many types of electronics. These include smartphones, laptops, tablets, and gaming consoles. They also accept cameras, drones, and smartwatches.

Shipping is free with Gizmogo. They provide a prepaid label, so you don’t have to pay for shipping. Your device is insured during transit, which adds an extra layer of protection.

Once Gizmogo receives your device, they inspect it quickly. You get paid fast, either in cash or online payment.

12. BuyBackWorld

BuyBackWorld is a great place to sell your used electronics. They make selling easy and quick, and you can sell items like phones, tablets, laptops, and more.

To get started, you simply just go to their website and get an instant price quote for your items. This helps you know how much money you will get. The best part is that you don’t have to guess the value.

After you get your quote, you ship your items for free. BuyBackWorld even provides the shipping label. You just pack up your items and send them off.

Payment is fast. Once BuyBackWorld gets your items and checks them, they pay you quickly. You can get paid through PayPal, a check, or a direct deposit.

13. Pawnshop

Pawnshops can be a great place to sell your used electronics quickly. They buy a wide range of items, from phones and laptops to gaming consoles and cameras.

The main advantage of selling to a pawnshop is the speed of the transaction. You can walk in with your item and walk out with cash in hand, usually within minutes, so this makes it a convenient option if you need money fast.

However, there are a few things to keep in mind when selling your electronics to a pawnshop. First, they typically offer less money compared to other selling options. Pawnshops need to make a profit when they resell your item, so they’ll often give you around 30%-60% of the item’s resale value.

It’s important to research the value of your electronics beforehand so you have an idea of what a fair offer might be. Also, be prepared to negotiate, as many pawnshops expect some haggling.

14. ItsWorthMore

ItsWorthMore.com is a great place to sell your old electronics. It’s easy to get started. You just go to their website, get a quote, and see how much your device is worth.

Shipping is free and they give you a prepaid label, so you don’t have to pay anything.

Once they get your item, they check it out. If it matches your description, you get paid. They send the payment fast, often within a week. You can choose to get paid by PayPal or check.

Frequently Asked Questions

Below are answers to common questions about how to sell your used electronics.

What is the best website to sell electronics?

The best website to sell your electronics often depends on what you’re selling. Decluttr and Gazelle are great for quick sales and you don’t have to create a listing. Facebook Marketplace and eBay can also be good options, especially if you want to reach a large number of buyers.

What’s the easiest way to sell my used computer monitor?

Selling a used computer monitor is easiest through websites like Decluttr or Gazelle. These services provide free shipping and fast payment. You can also try local selling through Facebook Marketplace for convenience and quick cash.

How do I sell my laptop?

To sell your laptop, start by choosing a platform like Decluttr, Gazelle, or Amazon Trade-In. If you have a Mac laptop, then you may want to trade it in to the Apple Trade-In program.

What to do before selling a used laptop?

Always back up your data before selling your laptop. Then, perform a factory reset to erase all personal information and don’t forget to remove all accessories like SIM cards and SD cards. I also recommend that you clean your laptop to make it look presentable.

What is the best place to sell used electronics near me?

For local sales, such as if you want to sell your used electronics near you, I recommend using sites like Facebook Marketplace, Craigslist, or local buy and sell groups. A pawnshop is another option if you want to sell used electronics locally, but you usually can’t get as much money.

What is the best place to sell used electronics online?

Decluttr and Gazelle are top choices for selling used electronics online due to their simple process and quick payments. Amazon Trade-In and eBay are also great options if you prefer more control over your selling price.

Best Places To Sell Used Electronics – Summary

I hope you enjoyed this article on where to sell old electronics for cash.

You can sell many types of electronics such as cell phones, laptops, tablets, and gaming consoles. They don’t have to be brand new either, they can be years old in many cases.

And, sometimes, they don’t even need to work. Yes, even your broken, used electronics may bring you some money. In fact, I personally recently sold my laptop that was 5 years old and broken, and I still made around $300.

Selling old electronics helps you get some money back. Instead of leaving gadgets in a drawer, turn them into cash.

By selling, you also help the environment. Electronics have materials that can be harmful if not disposed of properly. Selling them means someone else can use them, reducing e-waste.

Wondering how to decide what the best place is to sell your used electronics after reading the list above? I recommend thinking about how much money you’ll get, how fast you need the money, and how much effort you want to put toward selling it.

I hope you are able to make some extra money selling your used electronics. I think it’s definitely worth it instead of having it just sit around your home taking up space.

What do you think are the best places to sell used electronics?

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Source: makingsenseofcents.com

Apache is functioning normally

September 4, 2024 by Brett Tams

A pleasant-smelling home can instantly create a sense of warmth, comfort, and tranquility. However, achieving this without resorting to harsh chemicals can sometimes be a challenge. This expert guide will explore natural methods to infuse your living space with delightful aromas, ensuring a healthy and inviting environment. Whether you’re moving into a new home in Dallas, looking to refresh your current apartment in Fort Worth, or simply searching for a healthier indoor environment, these strategies from ApartmentGuide and experts we interviewed can make a significant difference. From simple household remedies to elegant DIY projects, discover how to make your home smell good naturally by using natural scents to transform your home.

1. Hang eucalyptus plants in your shower

Daniel Zevallos with the Maryland-based company Clean Home Theory shares, “One of his favorite ways to create a cozy and heavenly atmosphere at home is by incorporating eucalyptus plants. A practical and inexpensive idea is to hang eucalyptus plants in your shower; the steam will activate their lovely scent, transforming your bathroom into a relaxing spa atmosphere. Clean Home Theory is such a fan of this versatile plant that they are currently developing their first candle line, including a refreshing white eucalyptus scent that will infuse any room with a cool, crisp, and elevated aroma, thanks to its natural oils.

2. Tailored fragrances for each room

Karen with Essencional recommends, “Rather than using the same scent throughout your apartment or home, it’s much more inviting to use different fragrances in different rooms. For example, the clean and earthy smell of fig hand soap works well in the kitchen, while a reed diffuser such as AquaFlor’s Ambra Home fragrance will create a warm and cozy mood in the bedroom.” Karen also recommends “candles to enhance the ambiance of your living room, and the gentle light is conducive to spending a quiet evening at home. Try a sandalwood or leathery scent such as Diptyque’s Cuir for a clubby feel.”

3. Keep your home odor-free

Sharon Perfumes suggestion if you want to keep your home fresh and odor-free, you should focus on two strategies: “preventing bad smells from building up and adding your favorite scents. Deal with odor sources by washing linens, curtains, and rugs regularly, and keep your kitchen smelling good by cleaning spills quickly and using airtight containers for food.

Sharon also adds that “It’s equally important to introduce pleasant scents into your home. She shares that to create an inviting atmosphere to use vanilla and sandalwood candles, perfect for relaxing after a long day. Lastly, a fresh bouquet of roses or gardenias can naturally and gently perfume any space, making it feel brighter and more inviting.”

4. Sweet U Candles

Sweet U Candles believes that a welcoming home is more than just a physical space; it’s a sanctuary where you can relax and recharge. That’s why their go-to candle for creating a serene atmosphere is sage lavender. The earthy, grounding notes of sage blend harmoniously with the calming, soothing scent of lavender, creating an oasis of tranquility. This comforting fragrance is perfect for unwinding after a long day, helping you to let go of stress and find inner peace.

Photo courtesy of Sweet U Candles

5. Confessions of a Cleaning Lady

Sara San Angelo founder of Confessions of a Cleaning Lady shares that she “believes in the physical and emotional benefits of having live plants in your home. Not only do they clean the air, but studies have shown that being around plants can lower stress levels and promote relaxation. And caring for them, like watering and pruning provides a calming ritual that reduces anxiety.”

So, when looking for how to make your home smell good naturally, Sara looks to plants. She recommends plants like jasmine, eucalyptus, or gardenias, which can make a house smell fresh and pleasant. Plant fresh herbs like rosemary, mint, and basil in pots around your home. “Not only will this make your home smell wonderful, but you can use them to cook and make your home smell even better!”

6. Plant Swag Shop

Plant Swag Shop shares “One of our go-tosfor how to make your home smell good is placing a jasmine sambac plant in a central location in your home. This beautiful plant releases a sweet, calming fragrance that naturally freshens the air and creates a serene atmosphere. It’s an effortless way to enhance your living space with a touch of nature.”

7. Kate Hill Flowers

To naturally freshen your home, Kate Hill Flowers recommends filling it with timelessly fragrant flowers like garden roses, freesias, or oriental lilies. They also share, “For a touch of Australian nature, eucalyptus or flowering gum foliage works beautifully, and looks as good as it smells when creatively displayed in a modern setting.” Kate Hill Flowers loves “enhancing the ambiance of my home with a floral-scented candle. Not to mention the luxury that can be brought to any room with a light spray of natural scent, such as lavender oil, on clean bed linen or a cozy throw.”

Photo courtesy of Kate Hill Flowers

8. Essential Oil Parlour

Melissa Johnson with Essential Oil Parlour suggests adding an essential oil diffuser to the main room or bedroom of your home for an instant, lasting aromatic atmosphere. Do this by creating a diffusing station in just a few easy steps. Keep a container of water plus two or three blends of essential oil like Adaptiv, Balance, or Serenity by doterra at the station. Visiting your diffuser station as one of the first things you do in the morning not only makes your house smell good naturally, but it is also an accessible daily wellness habit.

9. Timeless tradition: Bread & Weather’s soaps secrets

Ella with Bread and Weather shares this, “Avoid the harmful ingredients and overpowering scents in mass-produced candles by choosing one made with all-natural ingredients. Their essential oil candles are blended and poured in Co. Wicklow, Ireland from natural, aromatherapy ingredients. Seven oil blends inspired by tranquil surroundings will fill your home with luxurious natural scent for hours and hours.”

Photo courtesy of Bread and Weather

Ella also shares to “place a bar of naturally scented handmade soap in your wardrobe. This old-fashioned housekeeping tip has been known by grandmas for generations and is still a winner. Handmade soaps are scented with all-natural, therapeutic essential oils. They will gently scent your clothes as well as naturally deter any little critters who may be attracted to your cashmere sweaters. Helpful tip: A peppermint lemongrass blend is especially good for keeping spiders away.”

10. Fresh air and a clear conscience: GinaBritt Candles

Indulge in the delightful aromas of GinaBritt Candles while supporting a noble cause. These thoughtfully crafted candles not only fill your home with pleasant scents but also contribute to helping animals in need. Experience the perfect blend of fragrance and philanthropy with GinaBritt Candles.

11. Fragrant flowers with Lora Bloom

Lora Bloom shares her best-kept secret to buying fragrant flowers is to buy local. “Most mass-produced flowers are grown for vase life more so than fragrance. Find your nearest farmer’s market or flower shop that sources locally grown blooms, and you’ll be shocked at how fragrant flowers can be! Depending on the season, lavender, freesia, garden roses, sweet peas, stock, eucalyptus, and much more will be available! Even plants like geranium, mint, and rosemary create beautiful and welcoming fragrances in the home!”

Photo courtesy of Missy Palacol Photography.

12. Sweet aroma with Sadie Sunshine

Sadie Nelson, lead floral designer with Sadie Sunshine Floristry, shares this helpful tip of placing freshly cut garden roses in vases throughout your space, as their delicate and fragrant petals release a subtle, sweet aroma. Enhance the scent by drying a few rose petals and using them in homemade potpourri or sachets.

13. A simple stovetop method: Inspire Clean

Inspire Clean shares this helpful and creative tip for how to make your home smell good –by simmering a pot of natural ingredients on the stove. A mix of citrus slices, cinnamon sticks, cloves, and fresh herbs like rosemary or thyme can fill your home with a warm, inviting scent. Simply add these ingredients to a pot of water, bring it to a simmer, and let the fragrant steam waft through your space. It’s a simple, yet effective way to create a cozy and pleasant atmosphere.

14. Scent-sational cleaning with Scents Gift

Scents Gift shares, “To cultivate a naturally fresh aroma in your room, incorporate essential oils into your cleaning routine by adding a few drops to water for mopping or wiping surfaces. Place air-purifying plants like lavender or eucalyptus around the space. Ensure proper ventilation by frequently opening windows, and keep the room clean for a lasting, pleasant scent.”

15. Cork & Candles: DIY fragrance fun

Kenny Straub of Cork & Candles suggests the fun of creating your own custom fragrance through candle making, bringing a unique and delightful scent to your home.”Candle-making is the perfect way to fill your home with a wonderful aroma! As you pour the melted wax into your container and stir it with the fragrance oil, you will enjoy the aroma that fills the air.

By making a candle yourself, you get to enjoy the aroma both when you make the candle and later when you light it. For anyone who wants to enjoy candle making, but who doesn’t want to deal with the hassle of buying supplies, testing recipes, or cleaning up, Cork and Candles can be a great alternative. Cork and Candles offers a BYOB candle-making experience in their luxurious space that allows guests to enjoy the art of candle-making while connecting with friends!”

16. Potpourri: The Blu Blazer Guy

The Blu Blazer Guy says, “The perfect product to use to naturally make my home smell wonderful is the potpourri from the Italian brand Santa Maria Novella. Made from leaves, roots, blossoms, and buds that grow in the Tuscan hills, it fills the air with a sophisticated blend of spicy, woody, and balsamic notes that are utterly addictive. It’s perfect for the upcoming autumn season, lacing the home with its comforting and rich aromas.”

17. How to make your home smell good: Lasting aroma with Aroma Energy

Aroma Energy’s suggestion is “to make your home smell wonderful, add a few drops of Aroma Energy’s fragrance or essential oils, like lavender, fresh linen, anxiety blend or vanilla & coconut, to a diffuser or oil burner, allowing the scent to gently disperse throughout the space. For a more lasting aroma, mix the oils with water in a spray bottle to refresh fabrics or lightly mist the air.”

18. Ever Clean House

Ever Clean House says to “Regularly clean your apartment to prevent odors from developing. Use eco-friendly cleaning products to maintain a fresh environment.

Another great way is to use essential oils in a diffuser, which is a popular and eco-friendly way to keep your apartment smelling fresh.”

19. Beauty and benefits: My Little Flower Shop

My Little Flower Shop’s favorite way to make a home smell heavenly is to place small bouquets of fresh lavender and rosemary throughout the house. Not only do they provide a soothing, herbal fragrance, but they also add a lovely visual touch to any room. For a longer-lasting scent, I often keep these bouquets on display.

A lasting impression: How to make your home smell good naturally

By incorporating these natural methods into your daily routine, you can effortlessly transform your home into a fragrant oasis. Not only will you enjoy the pleasant aromas, but you’ll also contribute to a healthier and more inviting living space. Remember, a delightful-smelling home is not just a luxury; it’s a simple and effective way to enhance your overall well-being.

Apache is functioning normally

September 4, 2024 by Brett Tams

“Americans need to earn more than a year ago—and much more than before the pandemic—to afford a starter home because mortgage rates are elevated and home prices are near record highs,” the report noted. The typical household earns an estimated $83,966, which is just enough to afford a starter home. However, many people in the … [Read more…]