The majority of homebuyers stick with the very first mortgage product offered, opting to not shop around with other lenders, a study conducted by an online financial services marketplace found.
Over 54% of borrowers with mortgages on a recent home only received one mortgage offer, a LendingTree survey published Monday said. In cutting their home buying journey short, borrowers may not be getting the best deal for themselves.
The survey, which gathered the opinions of over 2,000 participants in mid-April, concluded that 45% of homebuyers with a mortgage who shopped around got a lower offer than their first.
In breaking down the survey responses, only a mere 22% of borrowers got two offers and 17% got three or more offers.
Millennials in the group were more likely to comparison shop with 62% reporting doing so, while 28% of boomers in the questionnaire say they weighed different options. Meanwhile, a greater share of women (62% of the female respondents) said they are likely to accept the first offer without shopping around, compared to 46% of men.
Figuring out how much borrowers can actually save if they shop around is contingent on mortgage rates and loan size, but it can be a significant chunk of change, said Jacob Channel, senior chief economist at LendingTree, in a written statement Monday.
“That said, it’s not out of the realm of possibility for someone who received multiple offers and then picked the one with the lowest rate to save hundreds of dollars a month, thousands of dollars a year and tens, if not hundreds, of thousands of dollars over the lifetime of their loan,” he added in a press release.
Almost 30% of those surveyed said the top reason for not seeking multiple mortgage offers stemmed from confidence that they were receiving the best rate, followed by 20% saying they had a desire to use the lender recommended to them by their real estate agent.
Refinances, however, are a different story, with the survey finding that out of the 45% of homebuyers who’ve refinanced the mortgage on their current home, 56% shopped around.
A little over 80% of those who shopped around found a lower rate than their current lender offered, the report concluded
To no one’s surprise, a good chunk of the survey’s participants said mortgage rates have had an impact on when they decided to buy a home.
Over a third of buyers (35%) purchased a home earlier than planned to take advantage of low rates. Comparing genders, 43% of men were swayed to purchase a home due to lower rates versus 26% of women respondents.
Meanwhile, about 57% of respondents say they met with a real estate agent before they met with a lender during their home buying process.
Combining finances with a partner can happen at any stage of your relationship, even if you’ve been married to your partner for a long time. It can be a great opportunity for a couple to get on the same page about what they want their financial future to look like, especially when it comes to big considerations such as child care, homeownership and retirement.
An academic study published in the Journal of Consumer Research in 2023 found that couples with joint bank accounts experience less financial conflict and greater harmony within their relationships. The study results indicated that couples who merged their finances had a strong sense of financial partnership. In contrast, couples with separate bank accounts tended to operate in a more “tit for tat” financial exchange.
If you and your partner feel like it’s time to combine your finances, here’s how you can work toward merging your money.
Taking the plunge on merging finances with your partner
Perhaps you’ve kept your finances separate out of convenience, but now you’re getting tired of making online transfers to your partner for every shared expense. Or maybe you’ve got a considerable expense coming up and you want to streamline your accounts.
Jen Mayer, an accredited financial counselor and founder of the Brooklyn, New York-based firm Fully Funded, often works with couples who are deciding whether to combine their finances after a long time together. The first thing she likes to do is retrace the couple’s steps.
“When helping these couples, we usually want to know why their finances weren’t merged originally,” Mayer says. “There may be some beliefs about money from someone’s childhood — like maybe their parents had a bad marriage with a lot of conflict around money — that led them to want to keep their finances separate. We have to work out those beliefs first.”
Once a couple is aware of potential hang-ups around money, they can communicate more about their money management, goals and expectations as they begin the merging process. They might find that shared bank accounts can make their lives easier, but they also might choose to partially merge their accounts and keep separate accounts as well so each partner can have independent spending money.
Ultimately, if you’re married, Mayer says, all of your money is in the same pot and belongs to both people. A couple just has to decide how they will manage it.
How to merge finances long after marriage
Track spending habits and consider making a budget. For some, the act of tracking income and expenses can bring up uncomfortable feelings.
“If someone hasn’t been tracking their spending, they might not want to know where their money is going,” Mayer says. “But that information is data, and knowledge is power. If you want to change things, you have to be able to make informed decisions with that data.”
Once you have details about your income versus expenses, you and your partner can decide how much you want to spend on groceries, dining out, clothes and more. You also might make bigger decisions, such as moving into a home with lower rent or buying a car with a monthly payment that you can more easily afford.
Discuss how you’ll split shared expenses. Couples rarely have equal incomes, but when you’re married, your household expenses become a shared responsibility. To avoid resentment, couples should discuss an equitable arrangement for how expenses will be paid and who is responsible for which financial tasks in the household. For example, if one partner makes twice as much money as the other, perhaps they’ll contribute double to household expenses.
Open a joint account or add your partner to an existing account. If you don’t have a shared checking or savings account, you can shop around for a new account or see if your bank will allow you to add a co-owner to an existing account. Keep in mind that co-owners each have full ownership of the account and can withdraw as much money as they see fit. You may want to set spending limits with each other so you’ll both be informed about big purchases and avoid potential overdrafts. For a shared savings account, you’ll want to look for a high-yield account that helps you earn as much interest as possible on your money.
As you navigate the world of shared finances, remember that a strong financial partnership starts with a commitment to honest communication, teamwork and shared goals. These values can help you maintain a solid foundation in your marriage, too.
Homeownership is possible with bad credit home loans
The range of home loans for bad credit available today often surprises buyers.
Many lenders will issue government-backed FHA and VA loans to borrowers with credit scores starting at 580. Some lenders even offer FHA loans with a credit score as low as 500, though this is far less common.
With a credit score above 600, your options open up even more. Conventional mortgages require only a 620 score to qualify. And with a credit score of 680 or higher, you could apply for just about any home loan.
Verify your home loan eligibility. Start here
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Can I buy a house with bad credit?
Yes, you can buy a house with bad credit. While getting approved for a home loan with bad credit is challenging, it’s not impossible.
Check your home loan options. Start here
Across the industry, the lowest possible credit score to get a mortgage loan is 500. However, it’s important to note that mortgage lenders willing to accommodate such low scores are few and far between.
Additionally, these lenders usually charge higher interest rates to offset the risk associated with lending to borrowers with poor credit histories.
What do mortgage lenders consider a bad credit score?
The definition of a bad credit score varies between mortgage lenders. But, as a rule of thumb, the FICO scoring model considers scores below 580 to be “poor” or “bad.” If you’re looking for a mortgage with a credit score below 620, it may be considered a “low credit mortgage.”
Verify your home loan eligibility. Start here
FICO credit score ranges:
Below 580: Bad credit
580 to 669: Fair credit
670 to 739: Good credit
740 or above: Excellent credit
Still, some home buyers can qualify for a home loan with a FICO score as low as 500, depending on the loan program.
Home loans for bad credit
Home buyers seeking bad credit home loans have multiple programs to choose from. Yet, the FHA loan stands out as the most common mortgage option for those with poor credit histories.
When comparing home loans for bad credit, evaluate the loan terms, interest rates, and monthly payments to determine which suits your personal finances best.
Verify your home loan eligibility. Start here
Although each loan program and lender has its own unique credit score requirements and minimum down payments, here’s what you can generally expect to see:
FHA loan: 500 credit score
An FHA mortgage is a government-backed loan guaranteed by the Federal Housing Administration. This is why they’re a good option for borrowers with bad credit. You can qualify for an FHA loan with a low credit score of 500 and a 10% down payment, or 3.5% down if your FICO is 580 or above.
FHA loans accept applicants with credit scores as low as 500.
Applicants with scores between 500 and 579 need a 10% down payment.
Borrowers with low or bad credit may pay higher mortgage interest rates, but FHA loan rate increases are typically lower than conventional loans.
An upfront and annual mortgage insurance premium (MIP) is required, which adds to the loan’s overall cost.
Another appealing quality is that, unlike conventional loans, FHA-backed mortgages don’t carry risk-based pricing. This is also known as “loan-level pricing adjustments” (LLPAs). Risk-based pricing is a fee added to loan applications with lower credit scores or other less-than-ideal traits.
Check your FHA loan eligibility. Start here
FHA loans are a strong option if you’re seeking home loans with bad credit. This type of mortgage offers lenient qualifying credit requirements and no risk-based pricing adjustments.
Non-qualified mortgage (Non-QM): 500 credit score
Non-QM loans offer a more flexible lending criteria for those who do not meet the strict qualifications of conventional mortgages, with some available to borrowers with credit scores as low as 500.
Tailored for applicants unable to qualify for mainstream home loans.
Usually charge higher interest rates compared to other types of loans.
For individuals with bad credit, non-QM loans provide an alternative path to homeownership, albeit with potentially higher costs.
Check your bad credit home loan options. Start here
If you’re interested in a non-QM loan, check out the specialty mortgage programs some banks and credit unions offer that are neither conventional loans nor government-backed. Or, work with a mortgage broker who can recommend products from various lenders that might fit your needs.
VA loan: 580 credit score
The Department of Veterans Affairs offers VA loans to veterans, active-duty service members, and some military-affiliated borrowers. VA loans do not require a down payment or ongoing mortgage insurance payments.
VA loans do not have a minimum credit score, but lenders typically prefer a minimum of 580 to 620.
Borrowers with lower credit scores get rates comparable to those with higher credit scores.
VA loans are renowned for offering the lowest interest rates available.
A one-time funding fee is included, which most borrowers roll into their closing costs.
Verify your VA loan eligibility. Start here
VA loans are among the best options for financing a home for those who qualify, regardless of credit history.
Conventional loan: 620 credit score
Conventional loans are arguably the most common type of mortgage. Borrowers with low credit scores may wish to consider alternative options because a conventional loan would most likely have higher interest rates and fees.
A minimum credit score of 620 is generally required.
Loan-level price adjustments (LLPAs) are based on credit score and loan-to-value ratio (LTV).
Private mortgage insurance (PMI) is required for down payments of less than 20% of the home purchase price.
As your LTV rises and your credit score falls, your fee goes up. For instance, a borrower with a 20% down payment and a 700 credit score will pay 1.25% of the loan amount in LLPAs. But an applicant with a 640 score and 10% down will be charged a fee of 2.75%.
Verify your conventional loan eligibility. Start here
Still, despite the higher costs associated with lower credit scores, conventional loans remain a viable option for many, with FHA loans often presenting a more cost-effective route for bad-credit borrowers.
Fannie Mae HomeReady: 620 credit score
The HomeReady program by Fannie Mae offers an avenue for low- to moderate-income borrowers to secure financing with just a 3% down payment.
A minimum credit score of 620.
Available to both first-time and repeat home buyers.
Offers reduced rates for private mortgage insurance compared to standard conventional loans.
Verify your HomeReady eligibility. Start here
HomeReady is an excellent program for those looking to finance homes in low-income communities.
Freddie Mac Home Possible: 660 credit score
Freddie Mac’s first-time home buyer program, Home Possible, can help buyers get into homes with a 3% down payment.
Minimum credit score of 660
Must be a first-time home buyer
Down payment assistance programs are available for those unable to save the required down payment.
Verify your Home Possible eligibility. Start here
This loan program is particularly well suited for first-time home buyers with moderate credit.
USDA loan: 640 credit score
USDA loans are popular with home buyers in qualifying rural areas because they offer zero-down payment options and competitive mortgage rates.
Applicants need a minimum 640 credit score to qualify.
The property must be situated in a designated rural area.
Household income cannot exceed 115% of the area median income (AMI).
Whether you’re purchasing a home or refinancing your current mortgage with a USDA loan, you’ll pay a 1% upfront guarantee fee and a 0.35% annual fee.
Verify your USDA loan eligibility. Start here
A USDA mortgage is a government-backed loan guaranteed by the U.S. Department of Agriculture. This is why USDA loans are a great option for people looking to buy real estate in a rural area because they have flexible credit requirements and require no down payment.
Bad credit mortgage lenders
A less-than-perfect FICO score doesn’t mean you’re confined to dealing with subpar mortgage lenders. Surprisingly, some top-tier lenders specialize in assisting borrowers whose credit scores hover around or even dip below 600.
While it’s true that qualification may not be possible for everyone and your interest rate might be above what a “prime” mortgage borrower would receive, you have just as much right to seek out the best mortgage rates, fees, and customer service. Don’t let your credit score deter you from exploring all available options.
For comprehensive advice on finding the right lender for your situation, check out our guide to the best bad credit mortgage lenders. This resource lists the top lenders specifically catering to bad credit home loans, helping you make an informed decision that aligns with your needs.
How to get a home loan for bad credit
Improving your chances of getting a bad credit home loan may seem daunting, but there are strategies to boost your loan approval odds. As you begin the loan application process, mortgage underwriters will review your entire financial history. If your credit is low but the rest of your financial picture looks good, you’re more likely to get approved.
Check your home loan options. Start here
By following these proven steps, you can significantly improve your appeal to lenders and streamline your home buying process.
Check your free credit report for accuracy
The three major credit bureaus (Experian, Equifax, and TransUnion) make mistakes sometimes. Your creditors can report inaccurate information to the credit bureaus, too. Monitor your credit history to notice errors before they lower your score. The government has set up a website where you can check your credit accounts free: annualcreditreport.com
Dispute inaccurate information
If you do find inaccurate information in your credit history, be sure to file a dispute, especially if the errors include huge blemishes like foreclosures, repossessions, or collections accounts.
Collections accounts can linger on your credit reports for years. They can negatively impact your financial standing even after they’re paid, as paying off a collection upgrades its status to “Paid” but doesn’t remove it from your report.
Negotiating for its complete removal, known as “Pay for Delete,” by contacting the collection agency and offering payment in exchange for deletion from your credit report is a game-changer. Always ensure this agreement is in writing before making any payments, effectively erasing the financial mishap and potentially boosting your credit score.
Get mortgage loan preapproval
Securing mortgage preapproval is a pivotal step for buyers with bad credit. It not only clarifies your budget but also boosts your appeal to sellers. The preapproval process can also pinpoint where to improve your credit so be honest about your finances when seeking preapproval; lenders may suggest programs for credit issues.
Lower your DTI and credit utilization ratios
Lenders evaluate your debt-to-income ratio, or DTI, to determine if you can afford a new monthly mortgage payment. Reducing existing debts before submitting a mortgage application can make qualifying for a home loan easier.
Similarly, paying down credit card debt and personal loan balances also lowers your credit utilization ratio. Credit utilization measures your debt balance against your credit limit. For instance, a $7,000 balance on a $10,000 credit limit results in a 70% ratio, which is considered high. Aiming for a utilization ratio of 30% or lower can significantly boost your credit score.
Improve your payment history
Missed and late payments will lower your FICO score. Be sure to make on-time payments on all your loans and credit cards. It’s a good idea to set your accounts on autopay.
Consider a co-signer
If you’re unable to qualify for a mortgage due to a low credit score, you might want to consider bringing a co-signer into the equation. A co-signer essentially vouches for you, making lenders more comfortable with extending credit your way. In essence, you’re leveraging another person’s higher credit score and financial stability to boost your chances of securing that loan.
That said, it’s crucial to understand the responsibilities and implications for both parties involved. The co-signer’s credit score will be affected, for better or worse, by the loan’s performance. Lenders might also average your credit scores, depending on their specific policies, which can make the loan more attainable. Nevertheless, your interest rates will often be based on the lower of the two scores, meaning you may pay a bit more over the life of the loan.
Avoid unnecessary hard pulls
First things first: not all credit checks are detrimental to your credit score. Soft inquiries, such as those conducted for background checks, don’t affect your score.
However, hard inquiries, like the ones made when you apply for a new credit card or a loan, can lower your score a bit. Each hard pull can reduce your credit score by a few points. So always check whether the creditor will be performing a hard or soft pull on your credit report.
Leverage home equity
For homeowners who are unable to cash-out refinance due to bad credit, a home equity line of credit (HELOC) may be a solution. A HELOC allows access to funds based on the equity built in the home. By tapping into home equity through a HELOC, individuals bypass the strict credit requirements of conventional cash-out refinancing.
This approach can unlock cash for renovations, debt consolidation, or other financial needs, even when a poor credit score would typically close doors to such opportunities.
FAQ: Home loans for bad credit
Check your home loans for bad credit options. Start here
What is the lowest credit score to buy a house?
The lowest credit score typically required to buy a house is 500 with an FHA loan, which requires the borrower to make a 10% down payment. For credit scores of 580 or higher, a 3.5% down payment is sufficient. Conventional loans typically require a minimum credit score of around 620.
Can you get a mortgage with very bad credit?
Yes, it’s possible to secure a mortgage with bad credit, especially through government-backed loans designed to assist borrowers in this situation. Some lenders also offer home loans for bad credit, which are designed to assist potential homeowners with lower credit scores. These loan programs may offer other benefits, such as lower minimum down payments or no down payment requirements at all.
Which mortgage lender is best for bad credit?
Different mortgage lenders will view your application differently, so it’s important to shop around when you have bad credit. Online mortgage lenders have opened up more choices for many low-credit-score borrowers. Make sure to work with someone who has a Nationwide Mortgage Licensing System (NMLS) license.
How are mortgage lenders able to offer home loans for bad credit?
Unlike personal loans and student loans, mortgages are secured loans. The security comes from the value of your home, which your lender could repossess if you default. FHA, VA, and USDA loans have an additional level of protection: backing from the federal government. That’s why you could still get an FHA loan, for example, even with a credit score below 580, which most lenders consider subprime lending.
Can I get a home loan with a 500 credit score?
It is possible to find an FHA lender willing to approve a credit score as low as 500. You may also be able to find a non-QM (non-conforming) conventional lender with a 500 credit score minimum. But you won’t have many choices and must be prepared to make a larger down payment. It will also help if you have fewer other debts compared to your monthly income.
Check your eligibility for a bad credit home loan
It’s possible to buy a house with bad credit.
You’ll likely pay a higher mortgage rate, but you could get on the homeownership ladder now and start building equity. And you can always refinance to a lower rate later once your credit improves.
Want to find out whether you qualify for one of the many home loans for bad credit? Consulting with a mortgage loan officer about your options is free and will help you determine which bad credit mortgage program is best for you.
Time to make a move? Let us find the right mortgage for you
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High interest rates and low inventory have plagued the housing market, making it particularly difficult for younger adults to enter the world of homeownership. In recent years, millennials have notoriously struggled with owning houses — has Gen Z learned from their struggles enough to create better paths to homeownership?
At the very least, they’re keeping a positive attitude: Research from ServiceLink found that the younger generations had a more optimistic view of the housing market in 2024, with 56% of Gen Zers and 51% of millennials believing that conditions for buying were favorable, compared with 38% of Gen X and 18% of baby boomers. However, the survey results were not all that positive when it came to the respondents’ views on interest rates: Forty-two percent of those who considered buying a home in the past 12 months gave up the quest.
It’s all driving new trends in housing, especially among the youngest working generation. Gen Z is finding creative solutions to alleviate housing costs, with recent college graduates moving back home with their parents at a higher rate, as well as using “house hacking,” or renting out part of your property to afford housing costs.
Read more: Gen Z factors future rental income in home buying decisions
“Housing is very costly. People are definitely more open to sharing space,” Danny Gardner, Freddie Mac’s senior vice president of mission and community engagement, recently told National Mortgage News.
Some loan officers, including John Birke of Movement Mortgage, have developed marketing aimed at tapping into this interest on TikTok, a social media channel the industry has increasingly been experimenting with as a way to reach younger generations.
“I’ve done several videos about house hacking. I think it’s going to become more and more popular in the future,” Birke said. “Both Gen Z and millennials are frustrated that they’ve been essentially shut out of the housing market with few options for buying a home.”
Gen Z may also have more pressing financial concerns to balance such as erasing debt, especially from student loans, according to a FinLocker survey last year. While mortgage lenders are seeking to court young homebuyers with attractive marketing, the appeal of rental income is undeniable.
Read more: Housing affordability initiatives launched this spring
There are, however, a few trends working in Gen Z’s favor. The flexibility of remote work, which Gen Z has benefited from for much of their adult life, gives younger adults the opportunity to buy homes in more affordable areas while still working jobs in expensive, urban areas.
Many Gen Z homeowners likely purchased during the ultra-low rate era of 2020 and 2021, data from Redfin suggests. Their advantageous window compares favorably to Millennials, who in their early 20s lived through the Great Recession, and Gen Xers, who faced mortgage rates around 11% in 1989, when the oldest of that cohort were 24 years old.
Read more about recent Gen Z housing trends below.
Affiliate links for the products on this page are from partners that compensate us (see our advertiser disclosure with our list of partners for more details). However, our opinions are our own. See how we rate mortgages to write unbiased product reviews.
Mortgage rates are down this month. So far in May, 30-year mortgage rates have averaged around 6.74%, according to Zillow data, which is 11 basis points lower than the previous month’s average. But whether they’ll go down further depends on how inflation trends in the coming months.
As inflation slows and the Federal Reserve is able to start lowering the federal funds rate, mortgage rates should drop. But it may be a while before affordability improves for borrowers.
On a $250,000 loan with a 6.74% rate, you’d pay $1,620 each month on your mortgage. According to the Mortgage Bankers Association, rates could drop to 5.9% by the end of 2025. With a 5.9% rate, you’d pay $1,483 a month for that same mortgage.
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Mortgage Calculator
Use our free mortgage calculator to see how today’s mortgage rates would impact your monthly payments. By plugging in different rates and term lengths, you’ll also understand how much you’ll pay over the entire length of your mortgage.
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$1,161 Your estimated monthly payment
Total paid$418,177
Principal paid$275,520
Interest paid$42,657
Paying a 25% higher down payment would save you $8,916.08 on interest charges
Lowering the interest rate by 1% would save you $51,562.03
Paying an additional $500 each month would reduce the loan length by 146 months
Click “More details” for tips on how to save money on your mortgage in the long run.
Mortgage Rates for Buying a Home
30-Year Fixed Mortgage Tick Up (+0.23%)
The current average 30-year fixed mortgage rate is 6.81%, up 23 basis points from where it was this time last week, according to Zillow data. This rate is down compared to a month ago, when it was 6.94%.
At 6.81%, you’ll pay $653 monthly toward principal and interest for every $100,000 you borrow.
The 30-year fixed-rate mortgage is the most common type of home loan. With this type of mortgage, you’ll pay back what you borrowed over 30 years, and your interest rate won’t change for the life of the loan.
20-Year Fixed Mortgage Rates Inch Up (+0.09%)
The average 20-year fixed mortgage rate is nine basis points up from where it was last week, and is sitting at 6.25%. This time last month, the rate was 6.67%.
With a 6.25% rate on a 20-year term, your monthly payment will be $731 toward principal and interest for every $100,000 borrowed.
A 20-year term isn’t as common as a 30-year or 15-year term, but plenty of mortgage lenders still offer this option.
15-Year Fixed Mortgage Rates Go Up (+0.25%)
The average 15-year mortgage rate is 6.08%, nine basis points lower than last week. It’s down compared to this time last month, when it was 6.21%.
With a 6.08% rate on a 15-year term, you’ll pay $848 each month toward principal and interest for every $100,000 borrowed.
If you want the predictability that comes with a fixed rate but are looking to spend less on interest over the life of your loan, a 15-year fixed-rate mortgage might be a good fit for you. Because these terms are shorter and have lower rates than 30-year fixed-rate mortgages, you could potentially save tens of thousands of dollars in interest. However, you’ll have a higher monthly payment than you would with a longer term.
7/1 ARM Rates Inch Down (-0.05%)
The 7/1 adjustable mortgage rate is down five basis points from a week ago, currently at 6.78%. It’s up slightly compared to a month ago, when it was at 6.69%.
At 6.78%, your monthly payment would be $651 toward principal and interest for every $100,000 borrowed — but only for the first seven years. After that, your payment would increase or decrease annually depending on the new rate.
5/1 ARM Rates Nearly Flat (+0.03%)
The average 5/1 ARM rate is 6.68%, a three-basis-point increase from last week. It’s down compared to where it was a month ago, when it was 6.75%.
Here’s how a 6.68% rate would affect you for the first five years: You’d pay $644 per month toward principal and interest for every $100,000 you borrow.
30-year FHA Rates Essentially Flat (-0.01%)
The average 30-year FHA interest rate is 6.15% today, which is just one basis point down from last week. This rate was 6.07% a month ago.
At 6.15%, you would pay $609 monthly toward principal and interest for every $100,000 borrowed.
FHA mortgages are good choices if you don’t qualify for a conforming mortgage. You’ll need a 3.5% down payment and 580 credit score to qualify.
30-year VA Rates Increase a Bit (+0.13%)
The current VA mortgage rate is 5.96%, 13 basis points higher than this time last week. This rate was 6.25% a month ago.
With a 5.96% rate, your monthly payment would be $597 toward principal and interest for every $100,000 you borrow.
Mortgage Refinance Rates
30-Year Fixed Refinance Fall (-0.33%)
The average 30-year refinance rate is 7.32%, 33 basis points lower than last week. It’s down compared to a month ago, when it was 7.87%.
Here’s how a 7.32% rate would affect your monthly payments: You’d pay $687 toward principal and interest for every $100,000 borrowed.
Refinancing into a 30-year term can land you lower monthly payments, but you’ll ultimately pay more by refinancing into a longer term.
20-Year Fixed Refinance Rates Decrease (-0.30%)
The current 20-year fixed refinance rate is 6.70%, which is down 30 basis points compared to a week ago. This rate was 7.05% this time last month.
A 6.70% rate on a 20-year term will result in a $757 monthly payment toward principal and interest for every $100,000 you borrow.
15-Year Fixed Refinance Rates Drop (-0.40%)
The average 15-year fixed refinance rate is 6.18%, which is 40 basis points lower compared to last week. It’s also down compared to this time a month ago, when it was at 6.71%.
A 6.18% rate on a 15-year term means you’ll pay $854 each month toward principal and interest for every $100,000 borrowed.
Refinancing into a 15-year term can save you money in the long run, because you’ll get a lower rate and pay off your mortgage faster than you would with a 30-year term. But it could result in higher monthly payments.
7/1 ARM Refinance Rates Tick Down (-0.10%)
The average 7/1 ARM refinance rate is 6.68%, down 10 basis points from where it was last week. It’s down from a month ago, when it was 8.06%.
Refinancing into a 7/1 ARM with a 6.68% rate means your monthly payment toward principal and interest will be $644 for every $100,000 you borrow. This will be the payment for the first seven years, then your rate will change annually unless you refinance again.
5/1 ARM Refinance Rates Barely Inch Down (-0.03%)
The 5/1 ARM refinance rate is 6.49%, which is just three basis points lower than it was this time last week. It’s down compared to this time last month, when it was 6.75%.
A 6.49% rate will result in a monthly payment of $631 toward principal and interest for every $100,000 borrowed. You’ll pay this amount for the first five years of your new mortgage.
30-Year FHA Refinance Rates Flat (No Change)
The 30-year FHA refinance rate is 5.79%, which is the same as it was last week. This rate was 6.03% this time last month.
A 5.79% refinance rate would lead to a $586 monthly payment toward the principal and interest per $100,000 borrowed.
30-Year VA Refinance Rates Tick Up (+0.15)
The average 30-year VA refinance rate is 5.91%, which is up 15 basis points compared to where it was was last week. This rate was 6.04% a month ago.
At 5.91%, your new monthly payment would be $594 toward principal and interest for every $100,000 you borrow.
Are Mortgage Rates Going Down?
Mortgage rates started ticking up from historic lows in the second half of 2021 and increased over three percentage points in 2022. Mortgage rates also rose dramatically in 2023, though they started trending back down toward the end of the year. Though rates have been somewhat elevated recently, they should go down by the end of 2024.
For homeowners looking to leverage their home’s value to cover a big purchase — such as a home renovation — a home equity line of credit (HELOC) may be a good option while we wait for mortgage rates to ease further. Check out some of our best HELOC lenders to start your search for the right loan for you.
A HELOC is a line of credit that lets you borrow against the equity in your home. It works similarly to a credit card in that you borrow what you need rather than getting the full amount you’re borrowing in a lump sum. It also lets you tap into the money you have in your home without replacing your entire mortgage, like you’d do with a cash-out refinance.
Current HELOC rates are relatively low compared to other loan options, including credit cards and personal loans.
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.
You are struggling to make money.
And right now, you need to figure out how to turn 100 into 1000.
Plus you want to do this preferably fast!
We will share a few of the most important ideas that you can take to turn 100 dollars into 1000 in a day. These are simple and easy-to-follow strategies that anyone can follow without any prior experience or skill set; just some determination.
If you do not want to earn $1,000 in just one day, then this article is not for you.
However, if your goal is to turn 100 into 1K over time and build multiple streams of income that last forever–this post will provide some insight on how it can be done.
At the end of this guide, I’ll leave you with 10 key points about how to get started on your path towards turning 100 dollars into 1000.
Make the most of your time, because you’re running out of it!
How to Turn 100 into 1000
To turn 100 into 1000, you want to multiply your initial investment 10x.
That is a big promise!
The great news is this is something that can be easily achieved. Actually, way easier than you could possibly imagine.
Your goal is to learn how to turn 100 into 1000.
For some of you, you may want to learn how to turn $100 dollars into $1000 in a day.
Regardless of if you want to know how to turn $100 into $1000 in 30 days or a week, you will learn strategies to help you create more income streams. And that my friend is a win that will put you on a trajectory towards financial stability!
This is how can I flip my money…
Step One: Set Your Goals
When trying to reach a goal, you should be able to work on it on the same day. In order for this process, one must know what obstacles they might face and how they can overcome them with simple tactics.
It is important to set goals when trying anything new because they help keep the process moving forward.
In addition, when working towards a goal one needs to have an “end game” or at least something that will satisfy their objectives after achieving success. This is important because if someone sets out with no end-game (or doesn’t even think about it) then there is no sense of motivation or purpose.
Finally, it’s important to have a strategy for attaining your goal that is not too difficult and also ensures the best possible results are attained in the quickest amount of time.
Step Two: Create A Plan
The biggest obstacle with almost any make money idea is how people perceive them before they’ve had time to prove themselves.
You jump right in without taking the time to learn the new skill. Thus, you end up losing money quickly, which is exactly the opposite of what you wanted to do.
While you can know how to turn $1000 into $1000 in a day, you need a plan to make sure that happens on a consistent basis.
The most important step in the process of turning $100 into $1000 is to create an action plan.
A written document of what you plan to do. Include some of these items:
Write down your Make Money Idea
Skill sets you must learn
What steps do you need to take to reach your goal
Mind map out all of the possibilities as well as obstacles
How to market yourself or your business
Timeline to achieve your end goal
Steps to reach your goal.
More than likely, making over $1000 is not something you want to do once and be done. It will be something you want to rinse and repeat.
Put in the proper work, so you can see successful results.
Step Three: Take Action
The third step is to take action. You can’t just sit around and wait for success to come knocking on your door; you have to do something about it!
While it is great to plan what you want to do, you need to take action.
If not, you will never see results.
Also, it is important to set milestones in order to track your progress.
Ways to Turn $100 into $1,000
The average person spends $100 a month on their phone, cable, and coffee. If you want to make sure that your money is going towards the things that will help increase your wealth, then you need to learn ways to turn $100 into $1000.
Here are 12 simple ways that can be taken to turn $100 into $1,000.
Each idea will help you accomplish the goal of turning 100 dollars into 1,000 dollars in a short amount of time.
You just have to put in the work and dedication.
#1 – Start a Blog
Starting a blog is not an easy task and takes hard work.
A blog can be a lucrative career for those who are passionate about writing and sharing their expertise. Blogs make money through ad revenue, affiliate marketing, sponsored posts, and selling digital products.
The process of starting your own blog starts when you decide on the topic that interests you, create a website for it, design the layout, write posts about what’s happening in your life or what has happened in yours recently (almost every day), post pictures to show how much progress has been made with building content for your site and then finally sharing it online!
Starting a blog can be relatively inexpensive, but the income potential is high.
Check out the course roadmap and find out where to start first!
#2 – Open an Etsy shop or Shopify store
Etsy is a marketplace for handcrafted items that provides free tools to help you start an online shop. Use the site’s search engine, browse its features, and find products that will be popular with your target audience.
An Etsy shop is a great way to create a business and make money. It can allow you to sell whatever you want, with the potential for making more than $1,000.
The same is true for a Shopify store.
# 3- Invest in Stocks
This is my personal favorite way to turn 100 into 1000. Yes, that is true! While a blog is great, this allows more time freedom in my life with true passive income.
Investing can be a powerful way to turn $100 into $1,000 (over and over again). There are many ways to do this, but one thing is certain: investing has a foundational role in becoming independently wealthy.
Here is the BIGGEST CAVEAT to investing in stocks: you must learn how to trade and be successful.
Don’t just assume you can jump in and start to make $1000 in a day or follow some guru.
You must take this investing course.
If you don’t come back once you lost more money and invest in a proper stock market investing course.
You can start investing for as little as $100.
One former assistant principal, Teri Ijeoma, changed her life when she left her job as an educator and become an active trader.
Oh, and please stay away from Robinhood as a brokerage firm. Also, don’t jump into forex until you have some serious knowledge under your belt.
#4 – Invest in Real Estate
Investing in real estate is an excellent way to diversify your portfolio and it’s also a great way to make money.
Real estate is one of the most secure investments with low risk, but it also has the potential to provide stable returns. It’s important to choose a real estate investment strategy that is suited to your risk tolerance and any capital constraints you may have.
You can invest in real estate by purchasing a single property, multiple properties, or buying fractional shares. There are many different portfolio types that meet your needs and risk tolerance.
Real estate investment is a smart way to get passive income.
#5 – Get into Freelancing
As a freelancer, you have the opportunity to work with different companies and organizations. You decide where your next job is based on what you like best about each company or organization.
Freelancing is a unique way to work and offers the opportunity to do something you love without having to worry about someone else.
You don’t need to have a lot of money to start freelancing.
The internet has made it easy for people with skills and expertise in many fields to make money, even if you do not have any experience or credentials.
Freelancing is a way for people to earn money without having an employer. It might be intimidating, but it’s worth the effort and investment of time. You can start by building your portfolio website that will help you convince clients in order to get your foot in the door with freelancing opportunities.
Freelancing is a great way to earn income while still having time for personal life.
Get started with Fiverr!
#6 -Flip Digital Assets
A flip digital asset is a physical object that can be used to collect data from a device, such as a computer or mobile phone. This allows for the collection of information without having to install additional software.
These are the three types of digital assets that are currently available for purchase: cryptocurrencies, utility tokens, and collectibles. It is important to note that these currencies can be bought or sold at any time with no transaction fees.
However, it may take some time before you see your initial investment grow significantly due to large volatility in cryptocurrency prices or NFTs.
#7 – Start Service Businesses
Start businesses that provide services, such as childcare, lawn care, or housecleaning. The rules of business are always changing and it’s important to be able to adapt your business plan accordingly.
When starting a service business, the most important step is to have an idea for your service.
You can start by thinking about what you enjoy doing and then finding a way to monetize it. For example, if you are good at social media marketing, you could create an Instagram account with different types of content that would attract people who are looking for services similar to yours.
If you like dogs, start a business by dog walking or pet sitting. You can take it one step further and provide products your clients need like leashes, treats, and poop bags. This is great if you have a passion for animals.
Service businesses such as cleaning and lawn care can be started for a few hundred dollars or less.
You are trading your time for money.
#8 – Learn a New Skill
Learning a new skill is not an easy task.
It takes time, energy, and patience to master something that you have never done before.
However, it can be worth the investment in your future if you are able to use the skills learned for work or different hobbies later on down the line.
Plus many new skills can be used to help you make more money fast.
This is also one of the best ways to create your own financial future if you want it, which will make your life significantly better and happier.
Find a job that pays a lot of money
Increase your skills and qualifications to find a better-paying job.
Start studying for an exam or qualification people will be willing to pay more for, such as a degree or certification.
Network to find out more information about how much money you could be making if you were in the job of your dreams and what qualifications may be required for it.
Learn everything you can to be successful with your new side hustle.
In order to learn a new skill, you’ll need to set some time aside. You can decide on how much time you want to spend learning a new skill by deciding the frequency of practice.
Think about how many hours per day you want to spend practicing the skill. For example, if you want to learn a new juggling skill, you could decide that every day for 15 minutes will be dedicated to practice. If you want to learn a new skill every day, it will take about 30 minutes per day.
#9 – Couponing
Couponing is a very popular way to save money on grocery items.
Couponing involves finding coupons for specific items and looking to see if the coupon has been used before. In order to save money on groceries, it is important to check the expiration date of any coupons and to remember to use them before they expire.
This is a backward way of stretching spending $100 to get $1000 worth of product.
Couponers may be extreme couponers who stack coupons, compete with other stores, and use rebates to get items for 95% off or more.
# 10 – Loan your $100
A loan is a sum of money that somebody borrows from somebody else, who agrees to give it back with interest. The lender may be a bank or other financial institution, while the borrower must be a person, a company, or a government. The money is lent for a specific purpose, such as buying property or starting a business.
This is the riskiest idea and not my first pick, but it’s another passive income idea to test out.
This is an opportunity for people who want to take their $100 and turn it into $1,000 by loaning them back the money that they’ve given you.
#11 – Day Trading
Day trading is an investing strategy that entails buying and selling securities during the same trading day.
You are looking to profit by trading in the short term. The same is true with swing trading while holding investments from two days up to a month.
Only invest what you’re able to lose!
If you are serious about day trading, you can make good money with proper risk management. But, you must invest in this investing course.
#12 – Invest in Crypto
Investing in cryptocurrency is a risky investment, but it can pay off if you’re careful.
It’s important to keep your personal information secure when investing in cryptocurrencies, and never access an exchange account with the same password you use for your bank account.
Today, there are many different cryptocurrencies that you can invest in. Cryptocurrencies are becoming more and more popular with every day passing by. Cryptos are very volatile, so it’s important to invest in them with caution.
How to Be Successful when turning 100 into 1000
The concept of success can be difficult to define.
Success is something that is elusive, elusive in nature. Most people quickly dismiss the thought of achieving anything with this elusive ability.
The goal of attracting more money is to inspire you to make more out of what you have.
A little goes a long way to help everyone achieve their goals.
Here are a few things you need to focus on for long term success:
Be disciplined. This is the key to getting results in any area of your life.
Practice. Practice, practice and more practice.
Work Hard. One of the most important steps is to work hard on your craft. This will lead to natural success in your field or area of expertise.
Find Mentors. Another important step in getting results is to find mentors who are already successful and take time to learn from them what they did, how they did it, and when. This will help you avoid the mistakes they made.
Spend Money to Make Money. Don’t be afraid to spend money on what will bring about success for you and your company. Spending time making sure that people know who you are and what you do is a great investment!
Time Block. Another key component to successful results is being disciplined with your time. Make sure that every hour of the day has been dedicated to a project that is going to bring you closer to your goal.
Start Now. The final step I have for you in this journey of success is the most important one, which is to do it now. Don’t put off what you know will make your business grow.
The most important thing is to do it now!
This post will help you double it and make 2000 fast!
Try these 10 simple steps to attract massive results
For many people, the thought of turning 100 into 1000 dollars is difficult to achieve.
They just see how quickly money dwindles away and they are stuck in the scarcity mindset.
Turning 100 into 1000 is not as easy as it seems. But, if you can get over that mental roadblock with these 10 simple steps, you are on the right path.
1) Set an income goal- you’re worth it! What do you want your net profit per year to be? Write it down. Whatever your number is, you need to double it as an income goal for now.
2) Maintain a positive attitude- be grateful and enjoy life! You deserve this!
3) Believe that you can do it- your future is bright!
4) Don’t give up hope on the things you want.
5) Give generously to others, but also hug yourself.
6) Write your goals down and post them for everyone to see, then read them aloud every night before bed!
7) Visualize the life you want- it’s time to create a life of abundance!
8) Take care of your body by eating right, exercising, and getting enough sleep.
9) Stay calm in the face of adversity- you’re an unstoppable force!
10) Believe in yourself and what you’re capable of- anything is possible!
Ready to turn $100 into $1000
What if you could make more money and live a better life?
How would that change your world?
This is why I gave you the simple steps to make 100 into 1000.
This is how can I turn $100 into $200? Then $100 into $1000.
If you want to make more money, this is one of the best ways to do it.
This is your first step on how to become financially independent.
You can be in business for yourself or create a company that will generate a lot of money. You can do this from home or anywhere that’s a good location for you.
In today’s era of online work environment, there is a growing trend to make money hustling on the side.
Trust me, any of these 100 into 1000 ideas is going to blow your mind.
Don’t keep reading; jump in and start doing it!
More Make Money Resources:
One of the best ways to improve your personal finance situation is to increase your income. Here are a variety of side hustles that are very lucrative. With time and effort, you can start enjoying the lifestyle you want.
As an Amazon Associate and member of other affiliate programs, I earn from qualifying purchases.
This is the perfect side hustle if you don’t have much time, experience, or money.
Many earn over $10,000 in a year selling printables on Etsy. Learn how to get started by watching this free workshop.
Are you passionate about words and reading?
If so, proofreading could be a perfect fit for you, just like it’s been for countless of readers! Learn how you can create a freelance business as a proofreader.
Check out this free workshop!
If you’ve ever wanted to make a full-time income while working from home, you’re in the right place!
This intensive training combines thousands of hours of research, years of experience in growing a virtual assistant business, and the power of a coach who has helped thousands of students launch and grow their own business from scratch.
Bookkeeping is the most stable, reliable & simple business to own. This is how to make a realistic income -either part-time or full-time.
Find out TODAY if this is THE business you’ve been looking for.
You can make money as a freelance writer. Learn techniques to find those jobs and earn the kind of money you deserve! Plus get tips to land your first freelance writing gig!
Learn how to buy and resell items from flea markets, thrift stores and yard sales. They will teach you how to create a profitable reselling business quickly
…no matter how much or how little experience you have.
Learn how to supplement your daily, weekly, or monthly income with trading so that you can live your best life! This is a lifestyle trading style you need to learn.
Honestly, this course is a must for anyone who invests. You will lose more in the market than you will spend this quality education – guaranteed.
Read my Invest with Teri Review.
Designed as a 101-level course on freight brokerage, you’ll learn the basics of freight brokering in this online course.
This course is designed for freight brokers in any setting, regardless of their employment status.
If you want to start your brokerage, we’ll show you exactly how to do it. If you are an agent or employee of a brokerage, we’ll take you through sales and operations modules designed to help you source more leads and move more freight.
The Empowered Business Lab teaches you how to sell your digital products naturally with strategies that just make sense.
Monica helps thousands find momentum and create revenue streams in their businesses.
After taking a second job as a driver for Amazon to make ends meet, this former teacher pivoted to be a successful stock trader.
Leaving behind the stress of teaching, now he sets his own schedule and makes more money than he ever imagined. He grew his account from $500 to $38000 in 8 months.
Check out this interview.
Know someone else that needs this, too? Then, please share!!
Did the post resonate with you?
More importantly, did I answer the questions you have about this topic? Let me know in the comments if I can help in some other way!
Your comments are not just welcomed; they’re an integral part of our community. Let’s continue the conversation and explore how these ideas align with your journey towards Money Bliss.
If you’re reading this article because you have only one day in Phoenix to experience all this city has to offer, then you’ve come to the right place! Whether you’re exploring the town for vacation or trying to decide on renting an apartment in Phoenix or even buying a home in Phoenix, ApartmentGuide can help you plan the ideal day.
Below, you’ll find a wealth of restaurants, activities, and parks handpicked by Phoenix locals. Your task is to look through the list, selecting one item from each step to create your ideal itinerary. Feel free to choose more than one option if you wish! Think of this as a “Choose Your Own Adventure” for exploring a new city. The goal is for you to get a crash course in what it’s like to live in Phoenix.
Step one:
Try a new experience
During your stay in Phoenix, try out some of the new activities the city has to offer. Below is a selection of experiences, from coffee classes to skydiving to cowboy towns. Choose one or a few to explore during your stay.
Take a class at Infusion Coffee & Tea Crafters: “Not to plug ourselves, but our International Barista and Coffee Academy is a great valley find. We offer classes on coffee roasting, tea, and more.” – Leo of Infusion Coffee & Tea Crafters.
Attend the VNSA Book Sale: “If you’re a book lover or know one, you must plan to attend the annual VNSA Book Sale at the State Fairgrounds held every February. Each year, VNSA will sell five semi trucks full of books and media that they collected from donations all year long. With no paid staff, all proceeds benefit human service charities in Maricopa County. When you’re finished with those books, donate them to VNSA anytime using dropboxes located all over the Valley.” – VNSA Volunteer Staff.
Phoenix Skydive Center: “Visit the upscale Skydive Center in AZ. Our staff is experienced and certified by the United States Parachute Association. We offer a first-time skydiving experience to all adults: No experience or training required. We offer student and military discounts and holiday specials all year. Video and Photos available to share with friends and family.” – Phoenix Skydive Center.
Commemorative Air Base AZ: “You can see, touch, and hear the aircraft that made America safe. You can feel the history and the energy of our Airforce heroes from the past. It’s very affordable and free to vets and Gold Star Families. If you want to step it up you can even book a flight on one of these historic warbirds.” – Phoenix Skydive Center.
Rainbow Ryders Hot Air Balloon Ride: “Take a hot air balloon ride over Phoenix and Scottsdale with Rainbow Ryders. The best view of the Sonoran Desert and the Phoenix Skyline. The sunrise flight is like no other flight you’ve ever had. The cool Phoenix mornings with the sunrise over the desert is the best way to start a day.” – Phoenix Skydive Center.
Cave Creek: “This area is second to none being one of AZ’s most authentic cowboy towns to this day! Be sure to visit Harold’s Corral to experience their live music, fundraisers, sporting events, and more! If you’re feeling spunky, pop over to the Buffalo Chip for their bull riding nights. Enjoy endless views of the surrounding mountains and hike the various trails like those at Spur Cross.” – Haleigh Shelly of Paseo Homes AZ.
Visit one of Phoenix’s farmer’s markets: “You can find unique gifts, delicious food, and many handmade products. Go out and soak up the beautiful Arizona sunshine on Saturday markets and don’t forget to visit us while you are there!” – Absolutely Delightful Honey.
Plant Stand of Arizona: “This is a great place to check out. It’s not often you see so much greenery in Arizona. They have a plethora of plants: small and large, everything in between. If you’re new to Arizona and you’re looking for a place to get some plants to warm up and liven your space, Plant Stand of Arizona is the place to go.” – Leo of Infusion Coffee & Tea Crafters.
Step two:
Enjoy the local food
If you’re kicking around the idea of renting a home in Phoenix, you have to get acquainted with the local food. Though Tucson may get all the attention for being a UNESCO City of Gastronomy, Phoenix is not to be overlooked for all the great food selections.
Word Of Mouth Grill: “Located in the heart of South Tempe, this black-owned BBQ spot offers a casual modern dining experience, serving amazing food with a sociable and inviting atmosphere. It’s a family-owned and operated spot with the owner being the pitmaster and his wife overseeing the guest experience. YELP just added Word Of Mouth Grill to their “TOP 100 BBQ SPOTS” and ranked them #72 in the nation!” – Demetrious & Jacque of Word Of Mouth Grill.
Chico Malo: “Located in downtown Phoenix, this elevated Mexican cuisine & cocktail bar is inspired by the rich heritage of celebratory dining throughout the different regions of Mexico, showcasing unique cooking techniques and local ingredients in a lively, upscale environment. This chef-driven concept is a great place to experience especially when attending the Footprint Center, Chase Field or the Phoenix Convention Center!” – Demetrious & Jacque of Word Of Mouth Grill
ZuZu Restaurant: “One recommendation I would make for someone that wants a delicious meal with a great ‘60s vibe, is ZuZu Restaurant inside of the Hotel Valley Ho. ZuZu provides upscale comfort food & cocktails with a very Instagrammable 60’s atmosphere. If you are not interested in eating, Hotel Valley Ho allows you to purchase a day pass to their pool if you are not a guest of the hotel so you can spend your day lounging by their pool.” – Andrew Brigida of Digital Perception Photography.
Giuseppe’s on 28th: “If you are looking for classic Italian cuisine, Giuseppe’s is the perfect place. One of the must-try dishes is the Suppli di Riso (also known as arancini). These are delicious risotto rice balls that you are sure to talk about afterwards. And you cannot forget about the gnocchi in a cream and tomato sauce.” – Therese Lau of Gator Girl – Out of the Swamp.
The Kettle Black: “Look for the restaurant with the big red door! It’s like being in an English pub. If you like bourbon and whiskey they have plenty of choices. Looking for something delicious? Try the Philly cheesesteak fries. The fries are covered in shaved ribeye steak, sauteed peppers and onions, and a creamy cheese sauce. The ribeye is so tender and juicy you might think you’re in Philly!” – Therese Lau of Gator Girl – Out of the Swamp.
Ajo Al’s Mexican Cafe: “If you are in the mood for Mexican food, a classic restaurant is Ajo Al’s Mexican Café. In the valley since 1986, Ajo Al’s can handle large parties and can provide family-style dishes on request for large celebrations, or if you just like to eat a lot of good Mexican food. Don’t want to leave the house for your birthday? They can also provide catering services directly to your door.” – Andrew Brigida of Digital Perception Photography.
Step three:
Get fueled up
Phoenix is also home to several eclectic coffee shops featuring innovative decorations and displays. Kaylie of the travel blog Run Away With Kay is the perfect person to scour the city for the best coffee shops and come back with her recommendations. Here are three of her favorites:
Sip Coffee: “Located in the Arcadia neighborhood, Sip Coffee & Beer Garage is the perfect spot to spend a summer day. The baristas know their stuff, and the vibe is super calm and chill. I highly recommend ordering their cold brew on tap with a splash of almond milk (it’s addicting!). I’ve spent an entire day sitting quietly working on my laptop, as it is a great place for creatives to connect and get work done. But beware, when the clock strikes 4 p.m., this coffee shop can get a bit rowdy as their downstairs turns into a tiki-style cocktail bar. A coffee shop that serves coffee and alcohol – I know, sounds too good to be true! Whether you are looking to order a basic latte, craft beer, or liquor-infused espresso martini, Sip will have the drink for you.”
Luci’s At the Orchard: “If you are looking for a unique coffee experience, look no further than Luci’s At the Orchard. This place could not be any cuter! From the moment you walk on their grounds, you’ll be surrounded by outdoor seating, a splash pad, and an ice cream parlor. Inside, there are so many fun trinkets, games, and random Arizona-based gifts you can purchase. Not only do they have great tasting coffee options, but they also serve smoothies, brunch food, and bloody Marys that will keep you coming back time and time again.”
The Henry: “As if I don’t talk about The Henry enough, it has to make my top list for coffee. Many locals know The Henry for their delicious food but inside is their own coffee bar that will satisfy any caffeine craving you may have. This is one of my favorite places to “work from home” as it keeps me fueled all day long. Their menu is extensive, offering espresso, smoothies, and chai. Everyone seems to be addicted to the Wildflower, but I have yet to try it. I truly think you can’t go wrong with any of their options. Be sure to order the Caramel Apple French Toast if you start to get hungry!”
Step four:
Explore a park or lake
Part of Phoenix’s allure is the multitude of outdoor recreational activities. With so many beautiful parks to explore, the hiking culture here is incredible. If you enjoy the outdoors, choose one of the activities below to explore.
Papago Park: “This is an excellent spot for many things. It is a photographer’s dream with the beautiful sunrises or sunsets depending on when you are going. There are also picnic tables if you want to have a small gathering with family and friends. There is not a bad spot in Papago Park for a photo opportunity. – Andrew Brigida of Digital Perception Photography.
Phoenix Zoo: “Located in Phoenix just East of the Sky Harbor Airport, this non-profit zoo cares for over 3,000 animals with nearly 400 species represented, including many endangered species. The zoo offers daily activities and private events. They offer zoo tours such as the ‘Backstage Adventure’ where you can get a glimpse of the animal habitats, the ‘Tropics Trail’ a lush rainforest landscape with animals or the ‘Native Plants and Animal’ tour, to name a few. The Phoenix Zoo is great for all ages and interests!” – Demetrious & Jacque of Word Of Mouth Grill
Tonto National Forest: “So many options to stay busy in the Tonto National Forest! Spending the day out on Bartlett Lake with a boat or ski rental is a great way to stay cool during AZ’s hottest months. You can even enjoy various options of guided tours to experience the desert firsthand! If you’re feeling extra adventurous, take a trip to Apache Junction for the Goldfield Ghost Town experience!” – Haleigh Shelly of Paseo Homes AZ.
The Superstition Mountains: “The Superstition Mountains are the best mountains to explore around the Phoenix area! They hold some of the best views, diverse landscapes, and even historical tales of lost gold. The most notable hikes for beginner to moderate levels are Hieroglyphic Trail, Wave Cave, and Hackberry Springs Loop.” – Kara Grimes of Karabou Adventures, LLC.
Lake Pleasant: “There are so many things to do at Lake Pleasant, especially during the summer. The opportunities are endless: kayaking, scenic cruises with Lake Pleasant Cruises, boat rentals, and sliding down the H2-WHOA floating slide. Oftentimes my friends and I will park along the shoreline in Scorpion Bay to hangout, float in the water, and grill food!” – Kara Grimes of Karabou Adventures, LLC.
Desert Botanical Garden: “For plant and bird lovers I highly suggest the Desert Botanical Garden! Their collection of desert plants is impressive. A lot of them bloom in the spring time and bring in all types of birds and butterflies. The gardens even hold special seasonal events, so take a peek at their calendar!” – Kara Grimes of Karabou Adventures, LLC.
Explore the Valley area: “Phoenix has some of the finest dining options in the valley like the infamous Wright Bar at Arizona Biltmore (named after Frank Lloyd Wright)! You can also experience many great works of art and architecture like viewing Taliesin West, Frank Lloyd Wright’s winter home. And there is nothing like witnessing firsthand a beautiful Arizona sunset atop one of the most desirable hikes at Camelback Mountain for those who can handle the challenge!” – Haleigh Shelly of Paseo Homes AZ.
Step five:
Grab a drink and reflect
Now that you’ve explored Phoenix in a whirlwind of a day, it’s time to get a drink at one of the local breweries and reflect on the day you’ve had today. What did you like? What did you not like? Could you see yourself renting a house in Phoenix or buying a home?
The Phoenix Beer Co.: “The Phoenix Beer Co. is another great place to explore. The brewery has great beer and a variety of things to do. There’s shuffleboard, giant Jenga, cornhole, and more! – Leo of Infusion Coffee & Tea Crafters.
Huss Brewing: “Looking for a great place for craft beers? Huss Brewing is the perfect spot conveniently located next to the Phoenix Convention Center. They have great shareable appetizers to enjoy while sampling the local brews.” – Therese Lau of Gator Girl – Out of the Swamp.
Tombstone Brewing Company (North): “Located in a small strip mall in the north of Phoenix, this brewery was a lot of fun. I sat at the bar where a super-friendly bartender was happy to talk with me about the beer selection.” – The Beer Thrillers.
Wren Brewing House: “There are a lot of little nooks where you can find an intimate spot and a large space near the bar if you want to be part of the taproom vibe. A small courtyard is near the side of the bar for sitting outside.” – The Beer Thrillers.
OHSO Brewery and Distillery: “Fun, warm and welcoming vibes. Most of the bar is located outside and has a wonderful lay of the area.” – The Beer Thrillers.
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Being a budgeter is just about the worst job in the world UNLESS you know about fun money and how to make it work for you!!
When budgeting, you are told to track for every single purchase, make sure you’re staying within your limits, and make sure you’re still saving for important things.
But all of that can be a little more fun when you use these tips to make your budget have a good time.
First, forget the math! You’re going to need some kind of online system that will do all of the math for you. You might have to pay a little bit, but it’s worth it when you don’t have to do any work! Check out my favorite!
You know the saying, “Money can’t buy happiness.”
I believe that money does not have to be the root of all evil either. We are surrounded by an abundance of material goods and services for ourselves these days—it’s easy to spend like there is no tomorrow!
That being said, let me tell you about some ways I’ve found how to make my day-to-day budget fun with a little bit of creativity sprinkled on top!
Fun money is a novel concept and is one of the most popular ways to spend money.
This guide will help you create the perfect balance between saving and splurging, including different ways on how to spend it wisely.
What is Fun Money?
Fun money is the money that you’re able to spend on yourself without feeling guilty.
It is the predetermined amount of money or allowance set aside for each person to have their own fun money.
Fun Money has many benefits, including giving you freedom from guilt when indulging in your favorite treats.
It allows you to spend your funds however makes sense in order not to restrict yourself on what you can do with them.
Why do you need fun money in your budget?
Many people use fun money to reward themselves for completing certain tasks or achieving some goal. For example…
If you are trying to lose weight by eating healthy foods but have a hard time sticking to your diet. Then, you may use fun money to buy yourself a new outfit or shoes.
If you have been saving for a house and have reached the amount of money needed to purchase one. Then, you might use some of your fun money to go on a vacation.
Fun money is usually not earmarked for anything specific but is typically used as an incentive to complete some task or achieve some goal.
Also, fun money can be used as your own personal “spend-as-you-wish” fund. There are no questions asked if you stay within the allotted amount.
1. Morale
Fun money is a morale-booster and budget saving tool. The more fun you make your budget, the less stress it will cause in your life.
It’s important to take time for yourself by spending some of the extra savings on something that makes you happy. This could be like buying new clothes or going out with friends.
2. Limits Impulse Spending
The ultimate pressure to spend is real and happens without thinking! Fun money is something that you put aside for those impulse buys. Like those candy bars by the checkout line at Target or buying an extra coffee on your way to work in the morning.
This will help keep you responsible and accountable as well as limit spending because it’s set aside before purchases are made.
3. Money Fights Go Away
It’s no secret that money is the root of many arguments in relationships.
However, there are ways to avoid these issues and save your relationship!
One way you can do this is by creating an account for fun money. Fun money should be used when one partner wants to spend time with friends or family without guilt tripping their significant other into giving them more space within the budget.
4. No Judging
Fun money is a way to make your budget fun by spending it for yourself without judgment.
This makes you feel like the amount of money in your account doesn’t mean anything because it’s not necessarily something that society deems valuable. Thus, feeling free from judgment will allow you to enjoy all aspects of life more.
“If I have fun while I’m there, then why would anyone care about what happens?”
5. Stick to Budget
Fun money is the perfect way to make your budget fun.
Without this, people are more likely to abandon their budgets altogether and spend their funds on things that don’t contribute towards achieving financial freedom.
It’s easy for people to forget about fun when they’re working through a serious list of obligations every day like work, school, or family commitments.
Fun money provides an outlet where you can not only enjoy yourself. But, also save some extra cash in order to put it away into investments later down the line.
6. Importance of Adding Fun
The importance of adding fun money to your budget is undeniable.
This money allows you to have the freedom and flexibility to do what you want without worrying about how it will affect your finances.
It allows you to save for something big, or just have some extra money for a rainy day.
Fun Money As a Budget Essential Category
Fun money is a type of budget that you can use for special things to make your life and budget more fun.
While there are many ways to approach budgeting, Fun Money helps you set a fun and enjoyable budget.
This is one of the personal budget categories you need in your budget.
These are funds that you set aside specifically for spending on whatever you want because it won’t impact the rest of your budget.
If this sounds like a good idea, start with $10 and then increase or decrease how much is allocated per month depending on what suits your lifestyle best.
The only rule is that Fun Money must be spent within 90 days. So, make sure whatever it ends up being used for fits this criterion!
How Much Fun Money per Month
Each month, the average American spends $8.37 on “fun money.” This is just a little over $0.25 per day and includes things like going to movies, eating out, and going to the mall.
The amount of fun money you need is largely dependent on your goals and income.
It’s important to know what you want out of the budget before determining how much cash it will take to achieve those goals, as well as how often one should spend this type of money.
It can be anything from $10 a month for something like coffee or streaming services all the way up to $100 per month if that aligns with personal/family needs such as groceries or utilities.
When it comes to the average budget, it is recommended to have at least $10 – 20 available every month for fun money.
How to Budget for Fun Money
Budgeting for fun money is a good idea because it will help you avoid spending too much money.
If you make sure to plan your finances well, then there should be no problem with budgeting for fun money.
Fun Money Budget – This is one way people can set up their finances and plan out what they need before purchases start coming up.
Fun Money Reserve – This is a savings account that’s separate from the main budget and can help people save for bigger purchases.
The overall budgeting process should include fun money.
Tips on How to Budget for Fun
In order to budget for fun, one must first figure out what one would like to do with their money. They should then decide which activities are worth the most and cut back on any unnecessary spending.
One should also take into account how much one want to spend on each activity and set a limit for those activities as well.
Separate Money from Main Accounts
Separating this money allows you to spend guilt-free while still having a budget in place for other things.
The fun money should not be left to your main checking and savings.
Keep that money in a separate checking account or a cash envelope. Money just for you!
As you get used to the concept of fun money, you will see how easy it is to pay all monthly obligations while knowing something exciting is waiting for you!
Fun Things to Spend Money On
Fun money is a way to spend your money on experiences rather than things. It’s an excellent way for individuals to have fun while also saving up for future financial goals.
It’s important to set personal guidelines before you get started, such as knowing how much of your income can go towards fun money and what types of items are allowed because the experience will be more satisfying when it’s done with intent.
Here are things to spend money on for fun:
Golfing
Manicures
Movies
A really nice dinner out for two
Happy Hour
Ziplining tour
Hobbies
That thing you have been wanting FOREVER!
Honestly, anything that feels like a luxury to you or spending that brings tension in your relationship.
Always try and find free forms of entertainment. Do you want to go see a movie? Check the library for free screenings! There’s always something going on in your city, and it’ll cost you nothing but time.
Another great way to have fun with your budget is to take advantage of all the free things in your city. Go on a picnic in the park, go ice skating at night when it’s empty, or try out the free classes that are offered at your local gym.
Most of the time having a fun time with your money is more important than spending it on things.
How to Save for your Fun Money
First of all, start saving for your fun money on a regular basis.
You’ll want to save at least $5 per week on average in order to have enough saved up by the time you want to buy your fun item. If you’re not sure how much money that is, just multiply $5 by 52 weeks and you will have $260 a year. Increase the amount each week or month and you will have more fun money spending!
Next, set up a jar or put some coins in a piggy bank. Do not touch it for at least two months.
Then, buy your fun item and use that money instead of spending it on anything else.
By focusing on what you want and not what you don’t, it is easier to save more funds so they have enough for when life gets tough during the week.
When they think about this new perspective, people understand why saving up isn’t always necessary. This is especially true if there aren’t any calamities or emergencies coming around the corner and will constantly find ways to make their money work for them.
A “Fun Money Budget” is Less Stress
A fun money budget is a type of spending plan that allows people to spend money on activities or experiences they enjoy, without having to worry about how much they are spending.
In fact, it is the opposite of a strict budget, where people must spend money on necessities.
By utilizing fun money, transparency will result in more trust and fewer money fights.
Money is a tool that you have permission to use.
There are numerous ways to break out of financial constraints and enjoy life with your money. All while staying on budget.
You can save for fun by doing something like taking up a hobby or spending time with friends and family! It’s all about having fun!
Budgeting for “fun money” can make all the hard work seem more doable by giving you a sense of purpose and making it easier to stick with your goals.
More Budgeting Resources:
From all of the free and paid budgeting apps, here are our top budgeting apps to check out!
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Empower Personal Wealth, LLC (“EPW”) compensates Money Bliss for new leads. Money Bliss is not an investment client of Personal Capital Advisors Corporation or Empower Advisory Group, LLC.
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Inside: Learn $75000 a year is how much an hour. Plus find a 75k salary budget to live the lifestyle you want.
You want to know to look into this… 75k salary is a good hourly wage when you think about it.
When you get a job and you are making about $16 an hour, making over $75,000 a year seems like it would provide amazing opportunities for you. Right?
The median household income was $70,084 in 2021 not much different from the previous year (source). Think of it as a bell curve with $70 at the top; the median means half of the population makes less than that and half makes more money.
The average income in the U.S. is $55,350 for a 40-hour workweek; that is an increase of 1.1% from the previous year (source). That means if you take everyone’s income and divide the money out evenly between all of the people.
Obviously, $75k is above the average and median incomes; yet, most people feel like they can barely make ends meet with this higher than average salary.
But, the question remains… can you truly live off 75,000 per year in today’s society? The question you want to ask all of your friends is $75000 per year is a good salary.
In this post, we are going to dive into everything that you need to know about a $75000 salary including hourly pay and a sample budget on how to spend and save your money.
These key facts will help you with money management and learn how much per hour $75k is as well as what you make per month, weekly, and biweekly.
Just like with any paycheck, it seems like money quickly goes out of your account to cover all of your bills and expenses, and you are left with a very small amount remaining. You may be disappointed that you were not able to reach your financial goals and you are left wondering…
Can I make a living on this salary?
$75000 a year is How Much an Hour?
When jumping from an hourly job to a salary for the first time, it is helpful to know how much is 75k a year hourly. That way you can decide whether or not the job is worthwhile for you.
75000 salary / 2080 hours = $36.06 per hour
$75000 a year is $36.06 per hour
Let’s breakdown how that 75000 salary to hourly number is calculated.
For our calculations to figure out how much is 75K salary hourly, we used the average five working days of 40 hours a week.
Typically, the average work week is 40 hours and you can work 52 weeks a year. Take 40 hours times 52 weeks and that equals 2,080 working hours. Then, divide the yearly salary of $75000 by 2,080 working hours and the result is $36.06 per hour.
Just above $36 an hour.
That number is the gross hourly income before taxes, insurance, 401K, or anything else is taken out. Net income is how much you deposit into your bank account.
You must check with your employer on how they plan to pay you. For those on salary, typically companies pay on a monthly, semi-monthly, biweekly, or weekly basis.
What If I Increased My Salary?
Just an interesting note… if you were to increase your annual salary by $9K, it would increase your hourly wage by $4.32 per hour.
To break it down – 84k a year is how much an hour = $40.38
That is a huge difference in what you are able to afford! Every dollar adds up to over $40 an hour.
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.
How Much is $75K salary Per Month?
On average, the monthly amount would be $6,250.00.
Annual Salary of $75,000 ÷ 12 months = $6,250.00 per month
This is how much you make a month if you get paid 75000 a year.
$75k a year is how much a week?
This is a great number to know! How much do I make each week? When I roll out of bed and do my job of $75k salary a year, how much can I expect to make at the end of the week for my effort?
Once again, the assumption is 40 hours worked.
Annual Salary of$75000/52 weeks = $1,442 per week.
$75000 a year is how much biweekly?
For this calculation, take the average weekly pay of $1,442 and double it.
This depends on how many hours you work in a day. For this example, we are going to use an eight-hour work day.
8 hours x 52 weeks = 260 working days
Annual Salary of$75000 / 260 working days = $288 per day
If you work a 10 hour day on 208 days throughout the year, you make $360 per day.
$75000 Salary is…
$75000 Salary – Full Time
Total Income
Yearly Salary (52 weeks)
$75,000
Monthly Salary
$6,250
Weekly Wage (40 Hours)
$1,442
Bi-Weekly Salary (80 Hours)
$2,884
Daily Wage (8 Hours)
$288
Daily Wage (10 Hours)
$360
Hourly Wage
$36.06
Net Estimated Monthly Income
$4,772
Net Estimated Hourly Income
$27.53
**These are assumptions based on simple scenarios.
75k A Year Is How Much An Hour After Taxes
Income taxes is one of the biggest culprits of reducing your take-home pay as well as FICA and Social Security. This is a true fact across the board with a salary range of up to $160,200.
When you start getting into a higher salary range, the more you make, the more money that you have to pay in taxes.
Every single tax situation is different.
On the basic level, let’s assume a 12% federal tax rate and 4% state rate. Plus a percentage is taken out for Social Security and Medicare (FICA) of 7.65%.
So, how much an hour is 75000 a year after taxes?
Gross Annual Salary: $75,000
Federal Taxes of 12%: $9,000
State Taxes of 4%: $3,000
Social Security and Medicare of 7.65%: $5,737
$75k Per Year After Taxes is $57,262.
This would be your net annual salary after taxes.
Hourly Wage After Taxes
To turn that back into an hourly wage, the assumption is working 2,080 hours.
$57262 ÷ 2,080 hours = $27.53 per hour
After estimated taxes and FICA, you are netting $57,262 per year, which is $17,737 per year less than what you expect.
***This is a very high-level example and can vary greatly depending on your personal situation and potential deductions. Therefore, here is a great tool to help you figure out how much your net paycheck would be.***
Taxes Based On Your State
In addition, if you live in a heavily taxed state like California or New York, then you have to pay way more money than somebody who lives in a no-tax state like Texas or Florida. This is the debate of HCOL vs LCOL.
Thus, your yearly gross $75000 income can range from $51,262 to $60,262 depending on your state income taxes.
That is why it is important to realize the impact income taxes can have on your take home pay. It is one of those things that you should acknowledge and obviously, you need to pay taxes. But, it can also put a huge dent in your ability to live the lifestyle you want on a $75,000 income.
How Much Is 75K A Year Hourly Salary Calculator
More than likely, your salary is not a flat 75k, here is a tool to convert salary to hourly calculator.
This is great when looking for the best jobs for moms.
Every person reading this post has a different upbringing and a different belief system about money. Therefore, what would be a lavish lifestyle to one person, maybe a frugal lifestyle to another person? And there’s no wrong or right, it is what works best for you.
One of the biggest factors to consider is your cost of living.
In another post, we detailed the differences between living in an HCOL vs LCOL vs MCOL area. When you live in big cities, trying to maintain your lifestyle of $75,000 a year is going to be much more difficult because your basic expenses, housing, transportation, food, and clothing are going to be much more expensive than you would find in a lower-cost area.
To stretch your dollar further in the high cost of living area, you would have to probably live a very frugal lifestyle and prioritize where you want to spend money and where you do not. Whereas, if you live in a low cost of living area, you can live a much more lavish lifestyle because the cost of living is less. Thus, you have more fun spending left in your account each month.
As we noted earlier in the post, $75,000 a year is above the median income by $15000 that you would find in the United States. Thus, you are able to live an above-average lifestyle here in America.
What a $75,000 lifestyle will buy you:
If you are debt free and utilize smart money management skills, then you are able to enjoy the lifestyle you want.
When A $75,000 Salary Will Hold you Back:
However, if you are riddled with debt or unable to break the paycheck to paycheck cycle, then living off of 75k a year is going to be pretty darn difficult.
There are two factors that will keep holding you back:
You must pay off debt and cut all fun spending until that happens.
Break the paycheck to paycheck cycle.
Live a lifestyle that you can afford.
It is possible to get ahead with money!
It just comes with proper money management skills and a desire to have less stress around money. That is a winning combination regardless of your income level.
$75K a year Budget – Example
As always, here at Money Bliss, we focus on covering our basic expenses plus saving and giving first, and then our goal is to eliminate debt. The rest of the money leftover is left for fun spending.
If you want to know how to manage 75k salary the best, then this is a prime example for you to compare your spending.
You can compare your budget to the ideal household budget percentages.
recommended budget percentages based on $75000 a year salary:
Category
Ideal Percentages
Sample Monthly Budget
Giving
10%
$500
Savings
15-25%
$1000
Housing
20-30%
$1500
Utilities
4-7%
$250
Groceries
5-12%
$472
Clothing
1-4%
$47
Transportation
4-10%
$313
Medical
5-12%
$344
Life Insurance
1%
$19
Education
1-4%
$47
Personal
2-7%
$94
Recreation / Entertainment
3-8%
$188
Debts
0% – Goal
$0
Government Tax (including Income Taxes, Social Security & Medicare)
15-25%
$1478
Total Gross Income
$6,250
**In this budget, prioritization was given to savings, basic expenses and no debt.
Is $75,000 a year a Good Salary?
As we stated earlier if you are able to make $75,000 a year, that is a good salary. You are making more money than the average American and slightly less on the bell curve on the median income.
You shouldn’t be questioning yourself if 75000 a good salary.
However, too many times people get stuck in the lifestyle trap of trying to keep up with the Joneses, and their lifestyle desires get out of hand compared to their salary. And what they thought used to be a great salary actually is not making ends meet at this time.
This $75k salary would be considered a middle-upper class salary. This salary is something that you can live on very comfortably.
Check: Are you in the middle class?
In fact, this income level in the United States has enough buying power to put you in the top 91 percentile globally for per person income (source).
The question you need to ask yourself with your 75k salary is:
Am I maxed at the top of my career?
Is there more income potential?
What obstacles do I face if I want to try to increase my income?
In the future years and with possible inflation, some expensive cities 75,000 a year is not a good salary because the cost of living is so high, whereas these are some of the cities that you can make a comfortable living at 75,000 per year.
If you are looking for a career change, you want to find jobs paying six figures.
Is 75k a good salary for a Single Person?
Simply put, yes.
You can stretch your salary much further because you are only worried about your own expenses. A single person will spend much less than if you need to provide for someone else.
Your living expenses and ideal budget are much less. Thus, you can live extremely comfortably on $75000 per year.
And… most of us probably regret how much money wasted when we were single. Oh well, lesson learned.
Is 75k a good salary for a family?
Many of the same principles apply above on whether $75000 is a good salary. The main difference with a family, you have more people to provide for than when you are single or have just one other person in your household.
The costs of raising children are high and will steeply cut into your income. As you can tell this is a huge dent in your income, specifically $12,980 annually per child.
That means that amount of money is coming out of the income that you earned.
So, the question really remains is can you provide a good life for your family making $75,000 a year? This is the hardest part because each family has different choices, priorities, and values.
More or less, it comes down to two things:
The location where you live in.
Your lifestyle choices.
You can live comfortably as a family on this salary, but you will not be able to afford everything you want.
Many times when raising a family, it is helpful to have a dual-income household. That way you are able to provide the necessary expenses if both parties were making 75,000 per year, then the combined income for the household would be $150,000. Thus making your combined salary a very good income.
Learn how much money a family of 4 needs in each state.
Can you Live on $75000 Per Year?
As we outlined earlier in the post, $75,000 a year:
$36.06 Per Hour
$288-360 Per Day (depending on length of day worked)
$1442 Per Week
$2884 Per Biweekly
$6250 Per Month
Next up is making $80000 a year.
Like anything else in life, you get to decide how to spend, save and give your money.
That is the difference for each person on whether or not you can live a middle-class lifestyle depends on many potential factors. If you live in California or New Jersey you are gonna have a tougher time than Oklahoma or even Texas.
In addition, if you are early in your career, starting out around 50,000 a year, that is a great place to be getting your career. However, if you have been in your career for over 20 years and still making $75K, then you probably need to look at asking for pay increases, pick up a second job, or find a different career path.
Regardless of the wage that you make, if you are not able to live the lifestyle that you want, then you have to find ways to make it work for you. Everybody has choices to make.
But one of the things that can help you the most is to stick to zero based budgeting to make sure you stay on track.
Learn exactly how much do I make per year…
One of the best ways to improve your personal finance situation is to increase your income. Here are a variety of side hustles that are very lucrative. With time and effort, you can start enjoying the lifestyle you want.
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Embrace Home Loans celebrated the grand opening of its new location at 102 South Main St., Suite 101, on May 16, with a ribbon-cutting ceremony sponsored by the Culpeper County Chamber of Commerce.
Members of the Culpeper community were able see the new office and enjoy food and beverages.
According to Christina Swift, producing sales manager and loan officer for Embrace, when the home loan company first came to Culpeper in the early 2000s, it opened its first office on West Davis Street.
A few years later, the business moved to a space on Madison Road, where it stayed for 15 years before returning to downtown Culpeper.
“We had many, many offices and we were downsizing in a way and we also wanted a downtown location,” Swift said on the decision to move again. “When the downtown location came up, we found that this was the perfect fit for us.”
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Swift added the customer response has been positive, and complimented the newly renovated office. She said he hopes the new location can attract foot traffic from those walking in the downtown shopping area and allow her to show potential clients new to the area the appeal of Culpeper.
Among Embrace’s well wishers was Justin McFarland, senior vice-president for Oak View National Bank’s Culpeper branch. “(Swift) does a lot of the same things I do in the mortgage business and in the commercial business but she’s always been a fair competitor and a great friend,” he said.
Tish Smyth, a member of the board of directors for Culpeper Renaissance Inc., added, “It is wonderful to have a local lender downtown in our small community.”
Embrace Home Loans is a residential mortgage lender helping people buy and refinance homes. The company also advises and guides clients through the home buying process.
The corporate office is in Rhode Island and has offices throughout the East Coast, including Fairfax, Woodbridge, Virginia Beach and Ashburn in Virginia.
To lean more about the business, visit embracehomeloans.com.