Check your U.S. Bank offers for the following deals:
Some nice offers.
Hat tip to reader Private
Source: doctorofcredit.com
Need to make money fast? Check out these 12 ideas that can help you earn cash quickly, both online and in-person. Some options offer a high return on investment, while others take less time. Find the best way for you to boost your income now.
Got an extra room or garage space? Rent it out for quick cash. Use platforms like Airbnb to earn $50 per night or find a long-term renter for $600 per month. Even a parking spot can bring in money. Turn unused space into income with little effort.
Learn to trade stocks with a solid plan and make serious money. It’s not gambling if you know what you’re doing. With discipline and strategy, you can grow your wealth. Start small, learn the ropes, and watch your money grow.
To learn more: How To Invest In Stocks For Beginners: Investing Made Easy
Love animals? Make money fast by pet sitting or dog walking. People need help caring for their pets, and you can get paid for it. It’s a fun side hustle that lets you earn cash while spending time with furry friends.
Got a marketable skill? Use it to make money on platforms like Fiverr. Freelance jobs can be a great side hustle and even turn into a full-time business. Earn more by delivering high-quality work and getting great reviews.
Clear out your home and make money by selling stuff you don’t use. Price items right and the market will buy. It’s a quick way to earn cash and declutter your space at the same time.
Need fast cash? Get a job with tips for instant money. With many companies needing part-time help, it’s easy to find work. Plus, higher minimum wages mean more money in your pocket.
Share your opinions with companies and get paid for it. Online surveys are a simple way to make money in your free time. The more surveys you complete, the more you earn.
Join focus groups and get paid for your opinions. These in-person sessions are a great way to make money. Search for local focus groups online and sign up to earn extra cash.
Get paid to shop and give feedback. Each mystery shop has guidelines, so follow them to get paid. Start small, and with time, you’ll get better-paying gigs like restaurants. It’s easy money with some patience.
Earn cash by reviewing websites. Platforms like UserTesting pay you to give feedback on various sites. Each review takes around 20 minutes, earning you $10-$60. It’s an easy way to make money from home.
Save money fast by cutting unnecessary spending. Saying no to purchases can quickly put cash back in your wallet. It’s a simple way to improve your finances without extra effort.
To learn more: 10 Ways on How to Drastically Cut Expenses Now
Look for free bonuses from credit cards, bank accounts, and gift cards to earn extra cash. Companies want your business, so take advantage of their offers to make quick money.
Discover the best ways to make money fast. With various options available, you can earn extra cash based on the effort you put in. The opportunities are endless.
To learn more: 21+ Genius Ways on How to Make Money Fast
More importantly, did I answer the questions you have about this topic? Let me know in the comments if I can help in some other way!
Your comments are not just welcomed; they’re an integral part of our community. Let’s continue the conversation and explore how these ideas align with your journey towards Money Bliss.
Source: moneybliss.org
Direct Link to offer
Since launch the bonus has been $500 after $4,500 spend. This is a nice increased bonus, and also a higher spend requirement at $6,000 within 180 days. Nice, I’m considering giving this one a go, especially given the 12 months of 0% APR which I can float the $6,000 spend.
U.S. Bank does not report business cards to the personal bureaus (though you will get a hard pull on your personal report). Check out these Things To Know About U.S. Bank Credit Cards before applying. We’ll add this to our list of Best Credit Card Signup Bonuses.
Hat tip to DDG
Source: doctorofcredit.com
It’s now possible to activate all 5% category credit cards for the third quarter of 2024, including the Chase Freedom, Chase Freedom Flex, Discover IT, Citi Dividend, US Bank Cash+ and some smaller cards. In this post we’ll provide the activation link for each card and links to track your spend, along with strategies to help increase spend in these categories.
Dates: July 1st – September 30, 2024. Store purchases can usually be done until the last minute while online purchases should be given a buffer zone since the charge typically posts on the shipping date.
Activation Link / FAQ / Sample Stores & Exclusions / Our original post
With the Chase Freedom and Freedom Flex cards, activate to earn 5% back this quarter on up to $1,500 in spend at gas stations, on EV charging, select live entertainment and movie theaters.
Tip: Click this link (login required) to check how far you are along the $1,500.
Activation Link / Our original post
With your Discover card, activate to earn 5% back this quarter on up to $1,500 in purchases at Grocery Stores and at Walmart.
Activate to earn 5% Cashback Bonus at Grocery Stores and Walmart from 7/1/24 (or the date on which you activate 5%, whichever is later) through 9/30/24, on up to $1,500 in purchases. Grocery Store purchases include those made at supermarkets, meat lockers, bakeries, smaller grocery stores, and grocery delivery services. All purchases made from Target, convenience stores, wholesale clubs, and discount stores are not eligible. Walmart purchases include those made at Walmart.com, through the Walmart app, in-store at Walmart Discount Stores, Walmart Supercenter Stores, Walmart Neighborhood Market Stores, Curbside Pickup, Walmart +, and Walmart Gas Stations. Purchases using Walmart Pay with your Discover Card will also be included. Purchases from individual merchants and stand-alone stores within physical Walmart locations may not be eligible for this promotion. Sam’s Club purchases are not eligible. Purchases made through affiliates of Walmart.com are not a part of this promotion. The Walmart.com logo is a registered trademark of Walmart Inc. Listed merchants are in no way sponsoring or affiliated with this program.
Tip: Login, then click this link to see you how far along the $1,500 you are.
Landing Page | Our Original Post
With your Dividend card, activate to earn 5% back this quarter at Gas Stations. Citi is different than the other cards in that you have a $6,000 annual cap rather than a $1,500 quarterly cap. You can get 5% back on up to $6,000 in this quarter or you can save the entire amount for a different quarter, or you can use part up each quarter.
Excludes gasoline purchases at warehouse clubs, discount stores, convenience stores or other merchants that do not use the gas station merchant category code.
Activation link | Merchant List | Our Original Post
U.S. Bank Cash+ and Elan Max offer 5% cash back in two categories, up to $2,000 combined total per quarter. Keep in mind that Car Rentals was recently replaced with TV, Internet, and Streaming Services.
Here are the current options:
Tip: Login here, then scroll down and click on the red “View Your Cash+ History” button.
Our Original Post
The U.S. Bank Shopper Cash Rewards comes with a $95 annual fee and offers 6% cashback on your first $1,500 in combined eligible purchases each quarter with two retailers you choose. Options include Amazon, Apple, Best Buy, Home Depot, Lowe’s, Walmart, Target, and many more. You must enroll each quarter into two retailers.
Our Original Post
The Cash Rewards card from Bank of America offers 3% back on one selected category, up to $2,500 per quarter. If you don’t select anything it defaults to gas. Once you selected a category for one quarter, that remains your category in the future unless you change it. Each calendar month you can change it if you’d like, but you’re always limited to $2,500 for the entire quarter.
This category is especially lucrative for those who have Preferred Rewards status with Bank of America which can get you 5.25% back on one of these categories at the higher relationship level.
Lots of useful categories here. Important note: the Cash Rewards card also offers 2% back at grocery stores and wholesale clubs up to $2,500 per quarter, and that $2,500 limit combines with the Category Selection limit. After spending $2,500, you’ll earn 1% back on everything.
Landing Page | Our Original Post
This is on top of the regular 1% for a total earn of 6% back. (apparently no longer the case?)
Landing Page | Our Original Post
Landing Page | Our Original Post
Get 5x points on the category of your choice, up to $1,500 per quarter. Eligible categories:
Landing Page | Our Original Post
Safe Credit Union Cash Rewards Visa card offers 5% this quarter on your choice of one category each quarter (with no apparent limit). This quarter the categories are:
Source: doctorofcredit.com
The Atlas Card, issued by Patriot Bank, offers a way for people with no credit history to establish their credit. You aren’t able to get into debt with this card. Instead, your spending limit is set to what Atlas determines you can afford, which is based on how much money you have in your account.
The Atlas Card earns cash back in certain spending categories and offers other perks you don’t often see with starter credit cards. However, it charges a monthly membership fee (which is also payable annually), making other credit-building cards without these fees more appealing.
Here are five things to know about the Atlas Card.
🤓Nerdy Tip
This Atlas Card isn’t the same as the Atlas Card from Lead Bank, an ultra-high-fee card with luxury perks. Nor is it connected to another Atlas Card, which is a travel rewards card from India-based Axis Bank.
The Atlas Card boasts high approval rates of over 95% with no credit history required. To compare, the card’s website mentions data from the Consumer Financial Protection Bureau’s 2023 Consumer Credit Card Market Report stating that acceptance rates are around 20% for consumers in the subprime or deep subprime credit tiers.
There are geographic restrictions, however. As of this writing, the Atlas Card is only available to applicants who are residents of Alabama, Alaska, Arizona, Arkansas, Colorado, Connecticut, Florida, Georgia, Hawaii, Illinois, Iowa, Kansas, Kentucky, Maine, Massachusetts, Michigan, Minnesota, Missouri, Nebraska, New Hampshire, New Jersey, New Mexico, New York, North Carolina, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, West Virginia, Wisconsin and Washington, D.C.
The Atlas Card doesn’t assign you a credit limit the way more traditional cards do. Instead, it works with a deposit account held by Evolve Bank & Trust, which is funded by your existing bank account via Plaid, a service that connects accounts to other companies.
Your spending limit is determined by the amount of money you choose to deposit into your Atlas account, along with your income. You can’t spend more than you can afford to pay back, and you can set up autopay to ensure you pay bills on time. Atlas reports payment activity to the three main credit bureaus at the end of each month.
The Atlas Card earns cash back rewards that can vary based on three tiers (Gold, Blue and Platinum) you fall into depending on your ongoing spending and deposits into your Atlas account. You’ll earn:
Up to 3% cash back on gas, food delivery, coffee shops and more (no mention of what counts as “and more”).
5% cash back on subscriptions, including Netflix and Hulu.
Up to 10% cash back on purchases from 50,000+ stores (those stores are unspecified).
Up to 100% cash back on “Lucky Swipes,” which are essentially sweepstakes where you can randomly earn additional points on a purchase.
🤓Nerdy Tip
While any credit card can change its terms and conditions at any time, cards from financial technology companies sometimes undergo major changes unexpectedly. This can dramatically alter your experience as a cardholder.
Cardholders must pay a fee of $8.99 per month (you can save $18.88 on fees by paying $89 annually). Ostensibly, this grants you access to the deposit account and some of the Atlas Card’s perks, which are mentioned below.
Other credit-building cards with linked deposit accounts and choose-your-own spending limits charge no annual fee. Secured credit cards require an upfront deposit, but many also lack an annual fee.
In addition to cash-back rewards, the Atlas Card offers a bill negotiation feature to help you save on phone, internet and insurance bills. You can also get access to virtual cards you can use to pay for subscriptions, making it easier to cancel them when they’re no longer needed — or when the free trial ends.
Source: nerdwallet.com
The home-buying process can be especially nerve-wracking if you’re worried about having less-than-ideal credit. Luckily, some lenders will consider applicants with bad credit — or no credit at all.
CNBC Select rounded up the top lenders that consider applicants with credit scores lower than the typical 620 requirement. We evaluated each based on the types of loans offered, customer support, the required minimum down payment amount, and other factors (see our methodology below).
Keep in mind that while you may be approved for a mortgage with a lower credit score, you’ll likely receive an interest rate on the higher end of the lender’s rate range.
Apply online for personalized rates
Conventional loans, FHA loans, VA loans and jumbo loans
15- and 30-year conventional loans, 30-year VA and FHA loans, custom mortgages with fixed-rate terms from 8 to 29 years.
Typically requires a 620 credit score but will consider applicants with a 580 as long as other eligibility criteria are met.
3.5% if moving forward with an FHA loan
Already have a mortgage through Rocket Mortgage or looking to start one? Check out the Rocket Visa Signature Card to learn how you can earn rewards
Who’s this for? Rocket Mortgage stands out if you’re seeking flexibility. While most lenders tend to require a minimum credit score of 620, Rocket Mortgage accepts applicants with credit scores as low as 580.
Standout benefits: Rocket Mortgage offers a free program called Fresh Start to help potential applicants boost their credit scores before applying. Its proprietary low down payment option, the ONE+ mortgage, allows borrowers to put as little as 1% down.
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Who’s this for? Navy Federal Credit Union is ideal for current or retired members of the Armed Forces with a Navy Federal Credit Union membership (immediate family members are also eligible). While this lender doesn’t disclose its required minimum credit score, it works with members to analyze their circumstances and find the right mortgage fit for them, making Navy Federal Credit Union a potentially more flexible lender if you have a lower credit score.
Standout benefits: You can use the RealtyPlus program to buy a home and receive up to $9,000 in cash back. Private mortgage insurance (PMI), is also not a requirement for a low down payment on a mortgage through this lender.
[ Jump to more details ]
Apply online for personalized rates
Conventional loans, FHA loans, VA loans and Jumbo loans
15 – 30 years
Terms apply.
Who’s this for? CitiMortgage is great if you want to put less than 20% down but avoid the monthly PMI bill. If you apply for a mortgage through Citi’s HomeRun program, you can make down payments as low as 3% without PMI. If you’ve already purchased your home, this program can also be used to refinance your mortgage.
Standout benefits: Existing Citi customers with an account balance between $1 and $49,999.99 can be eligible for a $500 closing credit. Those with higher balances can receive an interest rate discount. Qualified borrowers can use the Lender Paid Assistance program to get up to $7,500 in credits toward closing costs. Homeownership counseling and education are also available.
[ Jump to more details ]
Fixed-rate and adjustable-rate available, apply online for rates.
Conventional loans, construction loans, FHA loans, VA loans, USDA loans and Jumbo loans
15-year to 30-year
Some loans require a 620 credit score, some require a 540 credit score or no credit score at all.
0% if moving forward with a USDA loan; 0% if moving forward with an Arrive Home™ or Zero Down mortgage (a 3% to 5% down payment is financed through a second mortgage with these options) ; 1% on conventional loans for some qualifying borrowers
Who’s this for? Guild Mortgage can provide options even if you don’t have a credit score or have a score as low as 540 — a lower threshold than the typical 620 credit score lenders usually require to even look at an applicant. Instead, Guild uses proof of on-time payments such as rent checks, utility bills and insurance payments to verify an applicant’s credit. It also boasts a variety of loans and down payment assistance programs if you want to make a small down payment.
Standout benefits: Guild Mortgage’s Zero Down allows borrowers with a credit score of 600 or greater to take out an FHA loan with 0% down — the lender will provide an additional repayable loan to the borrower as a second mortgage to supplement the FHA’s traditional 3.5% down payment requirement. Qualifying borrowers who make up to 160% of the area median income can also take out Guild Mortgage’s Arrive Home™ loan, which allows borrowers to put 0% down by taking out a repayable second mortgage with the company.
[ Jump to more details ]
Fixed-rate and adjustable-rate available, apply online for rates.
Conventional loans, FHA loans, VA loans, USDA loans, Jumbo loans, manufactured home loans
Apply online for terms
620 for conventional loans, 500 to 580 for some government-insured loans
Who’s this for? CrossCountry Mortgage is great if you want a lender with faster-than-average closing times. It offers conventional loans, FHA loans, VA loans, USDA loans, Jumbo loans, manufactured home loans. While most of its conventional loans require a 620 credit score, some federally insured options accept borrowers with a credit score as low as 500.
Standout benefits: CrossCountry Mortgage offers down payment grants for qualified buyers. With its FastTrack Credit Approval, CrossCountry says its borrowers have an edge in the home buying process with a reapproval process that allows borrowers to get the funds in as little as 10 days.
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Rocket Mortgage — the largest home loan provider in the country — has a variety of loan options available — especially for those looking to make a small down payment. It accepts borrowers with credit scores as low as 580 and provides a large number of educational resources on its easy-to-use website. Rocket has consistently scored above average on customer satisfaction surveys.
Minimum credit score
580
Types of mortgage loans offered
Fixed-rate, adjustable-rate, FHA loans, VA loans, jumbo loans, HomeReady and Home Possible loans
Down payment minimum
1% with the ONE+; 3.5% with FHA loan
[ Return to summary ]
Navy Federal Credit Union is the largest provider of VA loans and provides many benefits to veterans, and their immediate families. With a VA loan, you have the option to pay 0% down and the seller can contribute up to 4% of the home’s value toward closing costs. Navy Federal also offers the Military Choice mortgage, which has similar guidelines to the VA loan, such as no PMI and a 0% minimum down payment, but allows sellers to contribute up to 6% of the home’s value toward closing costs.
Minimum credit score
Not disclosed.
Types of mortgage loans offered
Conventional loans, VA loans, Military Choice loans, Homebuyers Choice loans
Down payment minimum
0%; 5% with conventional loans
[ Return to summary ]
CitiMortgage allows homebuyers to make a small down payment without worrying about PMI. Citi offers qualifying existing customers closing cost aid or interest rate discounts.
Minimum credit score
580 if taking out an FHA loan.
Types of mortgage loans offered
Conventional loans, FHA loans, VA loans and jumbo loans
Down payment minimum
3%
[ Return to summary ]
Guild Mortgage provides many loan types for borrowers with much lower credit than lenders usually require. In some cases, a credit score is not even needed. Guild also provides several low down payment options.
Minimum credit score
540 for some mortgages; no credit needed for some mortgages
Types of mortgage loans offered
Conventional loans, construction loans, FHA loans, VA loans, USDA loans and Jumbo loans
Down payment minimum
0% with a down payment assistance loan as a second mortgage.
[ Return to summary ]
CrossCountry Mortgage offers a wide variety of loans and says it can give its borrowers a leg up in the homebuying process through its FastTrack Credit Approval which allows borrowers to close on a loan in as little as 10 days.
Minimum credit score
580 or 500 for some government-insured loans.
Types of mortgage loans offered
Conventional loans, FHA loans, VA loans, USDA loans, Jumbo loans, manufactured home loans
Down payment minimum
3%
[ Return to summary ]
Pre-approval is a statement or letter from a lender indicating how much money you qualify to borrow to purchase a home and your potential interest rate. You’ll likely have to provide bank statements, pay stubs, tax forms and employment verification, among other requirements, and once pre-approved, you’ll receive a mortgage pre-approval letter, which you can use to begin viewing homes and making offers. It’s best to get pre-approved at the start of your homebuying journey before you start looking at homes.
A mortgage is a loan you can use to purchase a home. It’s also an agreement between you and the lender that essentially says you can purchase a home without paying for it in full and upfront — you’ll just need to put some of the money down — usually between 3% and 20% of the home price — and pay smaller, fixed monthly payments over a certain number of years, plus interest.
Mortgage rates change almost daily and can depend on market forces such as inflation and the overall economy. While the Federal Reserve doesn’t set mortgage rates, they do tend to move in reaction to actions taken by the Federal Reserve on its interest rates.
While market forces may influence the general range of mortgage rates, your specific rate will depend on your location, credit report and credit score. The higher your credit score, the more likely you are to be qualified for a lower mortgage interest rate.
A conventional loan is a loan that’s funded by private lenders and sold to government enterprises such as Fannie Mae and Freddie Mac. It’s the most common type of loan and some lenders may require a down payment as low as 3% or 5%.
A Federal Housing Administration loan, or FHA loan, typically allows you to purchase a home with looser requirements — for example, you may get approved with a lower credit score or be able to get away with having a higher debt-to-income ratio. You’ll typically only need to make a 3.5% down payment.
A USDA loan is offered through the United States Department of Agriculture and is aimed at individuals who want to purchase a home in a rural area. Best of all, USDA loans require a minimum down payment of 0% — in other words, you can use it to buy a rural home without a down payment.
VA mortgage loans are provided through the U.S. Department of Veterans Affairs, meant for service members, veterans and their spouses and require a 0% down payment with no mortgage insurance.
Borrowers who need a mortgage for more than $766,550 to purchase a single-family home (in most areas) will need to take out a jumbo loan. Note that these types of loans typically have stricter credit score and debt-to-income ratio requirements in part because they do not meet the Federal Housing Finance Agency’s (FHFA) conforming guidelines.
A 15-year mortgage gives homeowners 15 years to pay it off in fixed, equal amounts plus interest, while a 30-year mortgage gives 30 years to pay it off. With a 30-year mortgage, your monthly payments will be lower since you’ll have a longer period to pay off the loan, however, you’ll wind up paying more in interest over the life of the loan since it is charged every month. A 15-year mortgage, on the other hand, lets you save on interest but you’ll likely have to make a higher monthly payment.
At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every mortgage review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of mortgage products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics. See our methodology for more information on how we choose the best bad credit mortgages.
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To determine which mortgage lenders are the best for bad credit, CNBC Select analyzed dozens of U.S. mortgages offered by online and brick-and-mortar banks, including large credit unions, that come with fixed-rate APRs and flexible loan amounts and terms to suit an array of financing needs.
When narrowing down and ranking the best mortgages, we focused on the following features:
Note that the rates and fee structures advertised for mortgages are subject to fluctuate per the Fed rate. However, once you accept your mortgage agreement, a fixed-rate APR will guarantee the interest rate and monthly payment remain consistent throughout the entire term of the loan, unless you choose to refinance your mortgage at a later date for a potentially lower APR. Your APR, monthly payment and loan amount depend on your credit history, creditworthiness, debt-to-income ratio and the desired loan term. To take out a mortgage, lenders will conduct a hard credit inquiry and request a full application, which could require proof of income, identity verification, proof of address and more.
Catch up on CNBC Select’s in-depth coverage of credit cards, banking and money, and follow us on TikTok, Facebook, Instagram and Twitter to stay up to date.
Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.
Source: cnbc.com
Inside: These festive money saving ideas you need to have a magical frugal Christmas! Rediscovering a Christmas with no money is still possible with a little bit of planning, fun, and creativity.
Just like throughout the year, the word frugal can have a bad connotation. When you put the two words together – Frugal Christmas, most people think of a sad holiday with no joy or excitement.
However, just like with a frugal lifestyle, being frugal means you are looking to stretch your dollar to the fullest.
A frugal Christmas means to be economical with the spending of your Christmas funds. You prudently set money aside for Christmas ahead of time, but remember your overall money goals. When it is time to buy Christmas gifts and decor, you are not wasteful with your money and make your money go further.
Everyone’s level of frugality is different.
The same holds true at Christmas. Your frugal Christmas will look different than your neighbor’s or a friend’s. There is no reason to trap yourself in a comparison mode.
If you are looking at Christmas with no money, don’t despair! There are plenty of money saving tips in this post to make sure you still enjoy a festive season.
If you want to stay on course to pay off debt or reach FI, then a frugal Christmas would be part of your innate nature to do. You just need some frugal living tips related to Christmas.
You can create a magical frugal Christmas.
More importantly, these frugal money saving ideas for Christmas will help you stick with your budgeting goals and lower your stress level.
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.
Before we just into the Christmas frugal living tips, let’s discuss the big elephant in the room… what if you can’t afford Christmas gifts?
First of all, that is an unfortunate circumstance that you are in right now. I say “right now” because you have the power to dictate your future.
And it all starts with your mindset… you are focused on surviving Christmas with no money.
Not the fact that you are surrounded by your loved ones. With the chance, to enjoy time together, laugh together, create traditions, and make memories.
That is what Christmas is about.
So, before you move forward, you need to change your mindset. Your current money mindset is focused on having no money, being poor, and being broke.
If you want to change your financial future, then it all starts with your thoughts consuming your mind.
Start with writing down three positive things that happen in each of your days. Make sure one of them is related to money.
Okay, now, we are going to dig into specify ways to make a frugal Christmas a reality.
These are frugal traits that will improve your money management throughout the holiday season, but you can also start to carry these over to all aspects of your life.
To keep in the spirit of Christmas, let’s dig in and learn how to create a frugal Christmas that won’t leave you broke!
When you make the conscious decision to become more frugal, your center of attention is on the bigger picture.
For a frugal person, they view Christmas as part of a bigger puzzle. Their spending at Christmas needs to align with their money goals and desires.
This is the point when you must ask yourself the hard questions… Would you rather stay on track to pay off debt faster? Keep on saving money so you can take some time off next summer.
These are where you decide what is important in your life.
Just to be clear, I am not saying Christmas isn’t important because it definitely is. I am saying the Christmas that has been defined in our culture that focuses on gifts may not be the overarching focus of Christmas.
Did you know most people plan to spend an AVERAGE of $800-900 on Christmas?
For most folks, that will break any budget with a lot of debt hangover coming in January.
Challenge yourself to a Frugal Christmas of $400 or less.
When you create your frugal Christmas budget, plan to spend half of what you did the previous year. Don’t know how much you spent previously, then stick to the $400 or less.
If you are tempted to overspend, then set your budget at $200.
Now, you need to use Christmas budget template to plan your gifts into your budget.
Now, that you know how much you can spend on Christmas, you must make your budget line up with your gifts, Christmas decors, parties, etc.
This step is often overlooked and we typically fly by the seat of our pants.
However, one of the best money management tips is to plan how you will spend your money before you start spending anything!
In our free printables areas, we have worksheets and spreadsheets to help you.
Also, this is the chance, to be honest with friends and family about your desires for a frugal or no money Christmas. You have the time to plan a no gift holiday, gift exchange of unwanted items, etc.
Oh my goodness! This is seriously my favorite money saving idea all year round.
Ask around and see what others don’t want anymore.
Another man’s trash is the next man’s treasure.
A recent example in my life… Someone posted in our NextDoor group that they were looking for fly fishing equipment. I politely responded that once the original poster got what they needed I would be interested in anything leftover since my hubby took up this hobby. A neighbor messaged me and we got a bunch of fly fishing equipment for a fraction of the price.
You can always find Christmas decorations and maybe even gifts for no money.
Don’t be afraid to post in Facebook groups or NextDoor. Search Craigslist or thrift stores. You will be AMAZED by what people are happily willing to get rid of.
This is where you go into the store and look for gifts that can suit those on your list – more importantly, at your price level.
This is a great chance to pick up items on clearance or deeply discounted sale.
For instance, my son loved LEGOS (okay, what boy doesn’t go through that phase) and they can get quite expensive. Throughout the year, I would always look for LEGOS when they were on sale or being discontinued. This is one example of enjoying a frugal Christmas
With gift exchanges, you don’t need to go out and buy a brand new present. This is a chance to find something in your house that will make a great gift for someone else.
Here are various types of gift exchanges that cost little or no money:
There are just a few ideas on how you can get creative with holding gift exchanges. Not everything must be expensive to be an awesome winner!
A frugal trait is buying things in bulk to save money. When the holidays roll around, this is where you use your DIY skills to come up with frugal Christmas gifts.
If you find a lot of people on your list to buy small gifts for, you can create nice packages of presents to give. Typically, these holiday gifts are ideal for teachers, neighbors, co-workers or other special people that you want to wish a Merry Christmas.
For example, you can buy scented candles in bulk and wrap a beautiful bow on the glass jar. That is an easy way to divide them up for multiple gifts.
Another idea is to buy Christmas treat bags and divide up assorted miniature candies to quickly put together many small presents.
These are ideal gifts because they are thoughtful, but also budget-friendly.
One of the most expensive areas for any budget is entertainment and eating out. The same holds true at Christmas.
To combat extra costs, plan at-home parties where you can control the prices of food, drinks, and decor. And as a bonus, your friends and family may be relieved to spend less as well!
You can hold a potluck or cookie exchange for a fraction of the price of a night out or booked Christmas party.
There are plenty of ways to make it fun. You can still have cocktail hour with the festive dresses that are already in your closet. Don’t have something to wear – pretend you’re a teenager and shop your friend’s closets!
When you are done, you are done Christmas shopping. Block your eyes and ears from all of the last minute shopping and stocking stuffers.
One of the frugality traits is to make a plan for your money and stick to it.
Remember, marketers are good at their job of getting you to open up your wallet and spend money. Be stronger and stop shopping for the holidays.
Don’t go over your Christmas budget and your plan.
Every frugal person likes to know how much they save.
Not everyone likes numbers, but it is pretty motivating to see how much you save.
With a financial freedom mindset, you know that every penny saved is a penny earned.
This is where you realize your out-of-the-box thinking to create a frugal Christmas is worth the time and effort. You can see your savings on the gifts, decor, and thinking adds up.
One of the traits of becoming frugal comes with learning to live with less. It doesn’t have to be full minimalism. A better term is living simply.
The more you do around Christmas (buying gifts, putting up decor, hosting parties, attending parties, participating in cookie exchanges, cleaning for guests, traveling for events, the list can go on and on) will cause stress.
Look for ways to take a step back and focus on what is most important to you.
That was the first tip mentioned in this post because it is the one that is overlooked the most often. You don’t decide what you want Christmas to look like. You let others and life decide how your month of December rolls out.
Eliminate the undue stress surrounding the Christmas season.
Okay, we are going to spend a little more time around one area that causes us the most stress around the holidays – giving gifts.
There is extreme pressure to provide the Pinterest-perfect, movie-ready, Insta story each and every year.
Regardless of what you spend on Christmas, you will never be able to live up to the self-created expectations you put on yourself.
Just remember that statement when you have no money for gifts.
This is where you get super creative and honest with your loved ones.
The first step is to be completely honest with your financial situation at the moment. You aren’t looking for handouts. You just want a dose of empathy and maybe a hug.
Just like everyone else, you want to give your family the world and shower them with gifts.
However, the center of Christmas is coming together as a family and spending time together. You don’t need money for that.
This is where you get creative and start digging to find gifts.
Unfortunately for society, we are flooded with materialistic items. (Just look at any donation center or walk around on trash day.) There are plenty of gifts floating around that would cost you no money.
Post in a No Buy Facebook group or Nextdoor and see if anyone is getting rid of what you want.
More than likely, you will find Christmas gifts for no money. Sometimes, you may have to a fraction of the retail price.
Another option is to use your DIY skills – learn to sew, knit, bake, etc. Give away some of your treasured handmade gifts.
For frugal individuals, like me, the key enjoyment of the festive season does not rely on these costly aspects, but rather on the spirit of unity, shared experiences, and thoughtful gestures. This is where the concept of ‘No Gift Christmas‘ comes in, emphasizing value-driven festivities that foster warmth and happiness without the need to break the bank.
The good news is you can enjoy the holidays with plenty of things that don’t cost money.
Enjoying a festive holiday season doesn’t have to break the bank. In fact, there are several fun and frugal Christmas activities you can do at home!
There are usually plenty of free Christmas events in your town or city if you know where to look. Here are some festive events you can attend without spending a penny:
For more ideas, check out the Christmas bucket list that has plenty of fun holiday-filled events.
While we have plenty of tips for shopping smart on our website, we are going to focus on two areas when preparing Christmas for the frugal.
Starting your Christmas shopping in January means you get to spread the cost over the whole year, taking advantage of these deep discounts.
It’s very budget-friendly and helps control the infamous last-minute Christmas shopping spree.
Now, it’s important to note that you should only buy items you are reasonably sure you will use the following Christmas, to avoid clutter or unneeded spending.
Expert Tip: make a list during the holidays of the items you need, so you know precisely what to look for in the January sales.
To save money while shopping for Christmas presents, consider using money-saving apps. These apps give you cash back, coupon codes, and discounts while you shop, reducing the overall cost of your purchases, and essentially making you “earn” while you spend.
Here are some trusty tools to help you achieve a frugal Christmas:
By keeping these apps at your fingertips and using them proactively, you can stretch your Christmas budget further and end the year on a high note, financially.
The best part of being frugal is focusing on what is most important and saving money along the way.
That is why frugal living tips are so very helpful!
As a frugal person, there are some years that we can have Christmas on very little money, and in other years, we choose to spend a little bit more. Never ever have we spent close to the average Christmas spending.
That right there my friend defines a frugal Christmas.
If you are still on the fence about a frugal Christmas and spending $400 or less, then let’s think about it like this…
For 20 years, you spend half of the average spending at Christmas time, you will save over $8000. That amount doesn’t include inflation.
So, you need to ask yourself, how much are you willing to spend on the Pinterest perfect Christmas? That spending must be able to be paid in cash in full – not charged to a credit card.
We have shared many frugal living tricks to make your Christmas magical. What else would you add to the list?
Happy frugal Christmas!
More Christmas Gift Ideas:
More importantly, did I answer the questions you have about this topic? Let me know in the comments if I can help in some other way!
Your comments are not just welcomed; they’re an integral part of our community. Let’s continue the conversation and explore how these ideas align with your journey towards Money Bliss.
Source: moneybliss.org
A depository institution is a financial institution into which consumers can deposit funds and where they will be safely held. Banks and credit unions are typical examples of these institutions.
Learning about how these institutions work and their pros and cons can build your financial literacy.
A depository institution is a place or entity — such as a bank — that allows consumers and businesses to deposit money, securities, and/or other types of assets. There, the deposit is kept safely and may earn interest.
To share a bit more detail, depository institutions are financial institutions that:
• Engage in banking activities
• Are recognized as a bank by either the bank supervisory or monetary authorities of the country it is incorporated in
• Receive substantial deposits as a part of their regular course of business
• Can accept demand deposits
In the U.S., all federally insured offices of the following are considered to be depository institutions:
• Commercial banks
• Mutual and stock savings banks
• Savings or building and loan associations
• Cooperative banks
• Credit unions
• International banking facilities of domestic depository institutions
💡 Quick Tip: Make money easy. Open a bank account online so you can manage bills, deposits, transfers — all from one convenient app.
A depository can receive funds from consumers and businesses via such means as:
• Cash
• Direct deposit
• Teller or ATM deposits
• Checks
• Electronic transfers
The depository institution holds these funds, and they are insured by the Federal Deposit Insurance Corporation (FDIC) for up to $250,000 per depositor, per ownership category, per insured financial institution. If the institution is a credit union, funds will be similarly protected by the National Credit Union Administration, or NCUA vs. FDIC.
Funds are accessible on demand (aka demand deposits rather than time deposits), and the depository institution is required to keep a certain amount of cash in its vault to ensure it has funds available for clients.
Customers are able to earn interest on different types of deposits. The depository institution also earns interest; it’s one of the ways financial institutions make money. It does so by lending money on deposit to their customers in the form of different types of loans. (For instance, some of the money on deposit might earn the account holder 2% interest, while the bank then uses the funds for a mortgage that charges 6.00% interest. There’s a good profit margin there for the depository institution.)
Recommended: What Is a Community Development Financial Institution?
To better understand the purpose depository institutions serve, let’s look at some examples.
Credit unions may offer many of the same services as banks, but they are owned by account holders, who are also sometimes called members. These institutions are not nonprofits. The profits that the credit union earns are paid to members in the form of dividends or are reinvested into the credit union. To put it another way, the depositors are partial owners of the credit union. You often need to live in a certain area or work at a certain profession to keep your money at a credit union.
Commercial banks are what many of us visualize when we hear the term “bank,” whether we are thinking of a major bank with hundreds of brick-and-mortar branches or an online-only entity. They are usually owned by private investors and are for-profit organizations.
Commercial banks tend to offer the most diverse services of all depository institutions, from personal banking to global banking services such as foreign exchange-related services, money management, and investment banking. The offerings may depend on how large the institution is and which customer segments it serves (say, consumers and different types of businesses).
Savings institutions are the banks that serve local communities and loan institutions. Local residents deposit their money in these institutions, and in return, they can access credit cards, consumer loans, mortgages, and small business loans.
It’s possible to set up a savings institution as a corporation or as a financial cooperative. The latter makes it possible for depositors to have an ownership share in the saving institution.
Recommended: What Is an Intermediary Bank?
Repositories and depositories are two different things despite the fact that their names sound almost the same. Here’s some of the key differences.
• Depositories hold cash and other assets, but repositories hold abstract things such as intellectual knowledge, files, and data.
• Depositories are usually credit unions, banks, and savings institutions, while repositories are typically libraries, data-storage facilities, and information-based websites.
Unlike depository institutions, non-depository institutions don’t accept demand deposits. These are some of the differences between these two types of institutions:
• Depository institutions accept deposits and store them for safekeeping. Non-depository institutions, on the other hand, provide financial services but can’t accept demand deposits for safekeeping.
• Depository institutions are FDIC- or NCUA-insured, while non-depository institutions can be SEC-insured or have another type of insurance.
• Credit unions and banks are commonly depository institutions. Non-depository institutions are often brokerage firms and insurance companies.
Depository institutions have a few benefits to note:
• Money is safe and FDIC- or NCUA-insured
• Accounts can earn interest on time deposits such as certificates of deposit (CDs) and possibly other deposits
• Helps keep the economy healthy by allowing depository institution to lend out deposits and earn interest
• Reduced risk of assets being lost or stolen
There are a few downsides to depository institutions. Consider these points:
• Limited growth potential of deposited funds compared to investments, money market accounts, and CDs
• Banks, credit unions, and savings institutions may charge fees for holding funds
• Minimum account balance may be required
When it comes time to choose a depository institution, it can help to keep the following things in mind when comparing different options.
• Type. Carefully consider if a credit union, saving institution, or commercial bank is the right fit. Some commercial banks have brick-and-mortar locations, while others offer all of their services online. Online banks usually pay higher interest rates on savings and charge fewer and/or lower fees, since they don’t have the overhead associated with operating branch locations. Credit unions also tend to offer higher interest rates and lower fees as they are not-for-profit as commercial banks are.
• Features. Look for a depository institution that offers perks and services that suit your needs. Special features may include high interest rates, early access to direct-deposit paychecks, cash back deals, fee-free ATMs, and free access to credit scores.
• Fees. Shop around to see which depository institution has the lowest and/or fewest fees, such as account maintenance fees and overdraft fees. As noted above, credit unions tend to charge lower and/or fewer fees than commercial banks, as do online banks.
• Convenience. If you like to bank locally and know your bank tellers and officers, choosing an institution that has branches in your neighborhood is a wise move. If you prefer the seamlessness of banking 24/7 by app, however, you might opt to open an online savings account.
Recommended: What Is an Online Savings Account?
Commercial banks, credit unions, and savings institutions are all examples of depository institutions. Depository institutions can be places to safely store funds that can then easily be accessed. Funds will typically be insured by either the FDIC or NCUA up to their usual limits of $250,000 per depositor, per ownership category, per insured institution.
Looking for a bank to deposit your money in that pays a great APY?
Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with direct deposit, you’ll get a competitive annual percentage yield (APY), pay zero account fees, and enjoy an array of rewards, such as access to the Allpoint Network of 55,000+ fee-free ATMs globally. Qualifying accounts can even access their paycheck up to two days early.
Better banking is here with SoFi, NerdWallet’s 2024 winner for Best Checking Account Overall.* Enjoy up to 4.60% APY on SoFi Checking and Savings.
There is no difference between a bank and a depository. A bank is a type of depository institution. Credit unions and saving institutions can also be depositories.
There are three main types of depository institutions. Commercial banks, credit unions, and savings institutions are all types of depository institutions.
Yes, commercial banks are one kind of depository institution where consumers can securely stash their money.
Photo credit: iStock/Mikhail Bogdanov
SoFi® Checking and Savings is offered through SoFi Bank, N.A. ©2023 SoFi Bank, N.A. All rights reserved. Member FDIC. Equal Housing Lender.
The SoFi Bank Debit Mastercard® is issued by SoFi Bank, N.A., pursuant to license by Mastercard International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.
SoFi members with direct deposit activity can earn 4.60% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. Direct Deposit means a recurring deposit of regular income to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government benefit payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Direct Deposit”) via the Automated Clearing House (“ACH”) Network during a 30-day Evaluation Period (as defined below). Deposits that are not from an employer or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g., IRS tax refunds), do not constitute Direct Deposit activity. There is no minimum Direct Deposit amount required to qualify for the stated interest rate.
As an alternative to direct deposit, SoFi members with Qualifying Deposits can earn 4.60% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Qualifying Deposits means one or more deposits that, in the aggregate, are equal to or greater than $5,000 to an account holder’s SoFi Checking and Savings account (“Qualifying Deposits”) during a 30-day Evaluation Period (as defined below). Qualifying Deposits only include those deposits from the following eligible sources: (i) ACH transfers, (ii) inbound wire transfers, (iii) peer-to-peer transfers (i.e., external transfers from PayPal, Venmo, etc. and internal peer-to-peer transfers from a SoFi account belonging to another account holder), (iv) check deposits, (v) instant funding to your SoFi Bank Debit Card, (vi) push payments to your SoFi Bank Debit Card, and (vii) cash deposits. Qualifying Deposits do not include: (i) transfers between an account holder’s Checking account, Savings account, and/or Vaults; (ii) interest payments; (iii) bonuses issued by SoFi Bank or its affiliates; or (iv) credits, reversals, and refunds from SoFi Bank, N.A. (“SoFi Bank”) or from a merchant.
SoFi Bank shall, in its sole discretion, assess each account holder’s Direct Deposit activity and Qualifying Deposits throughout each 30-Day Evaluation Period to determine the applicability of rates and may request additional documentation for verification of eligibility. The 30-Day Evaluation Period refers to the “Start Date” and “End Date” set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the “30-Day Evaluation Period”). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. Upon receiving a Direct Deposit or $5,000 in Qualifying Deposits to your account, you will begin earning 4.60% APY on savings balances (including Vaults) and 0.50% on checking balances on or before the following calendar day. You will continue to earn these APYs for (i) the remainder of the current 30-Day Evaluation Period and through the end of the subsequent 30-Day Evaluation Period and (ii) any following 30-day Evaluation Periods during which SoFi Bank determines you to have Direct Deposit activity or $5,000 in Qualifying Deposits without interruption.
SoFi Bank reserves the right to grant a grace period to account holders following a change in Direct Deposit activity or Qualifying Deposits activity before adjusting rates. If SoFi Bank grants you a grace period, the dates for such grace period will be reflected on the APY Details page of your account. If SoFi Bank determines that you did not have Direct Deposit activity or $5,000 in Qualifying Deposits during the current 30-day Evaluation Period and, if applicable, the grace period, then you will begin earning the rates earned by account holders without either Direct Deposit or Qualifying Deposits until you have Direct Deposit activity or $5,000 in Qualifying Deposits in a subsequent 30-Day Evaluation Period. For the avoidance of doubt, an account holder with both Direct Deposit activity and Qualifying Deposits will earn the rates earned by account holders with Direct Deposit.
Members without either Direct Deposit activity or Qualifying Deposits, as determined by SoFi Bank, during a 30-Day Evaluation Period and, if applicable, the grace period, will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances.
Interest rates are variable and subject to change at any time. These rates are current as of 10/24/2023. There is no minimum balance requirement. Additional information can be found at https://www.sofi.com/legal/banking-rate-sheet.
*Awards or rankings from NerdWallet are not indicative of future success or results. This award and its ratings are independently determined and awarded by their respective publications.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.
SOBK-Q224-1939889-V1
Source: sofi.com
Later this year, the card will begin earning:
4% back in rewards on dining purchases, including takeout (up from 3% back).
4% back in rewards on phone and accessory purchases paid for in full from Verizon (up from 2% back).
1% back in rewards on your monthly Verizon bill (down from 2% back).
According to Verizon, the changes are expected between August and October 2024. The card, issued by Synchrony Bank, will continue earning 4% back on grocery stores and gas and 1% back on all other purchases. There will also be no change to the discount per line or account when you enroll the Verizon Visa® Card in autopay for your monthly Verizon bill.
Who doesn’t want to be rewarded?
Create a NerdWallet account for personalized recommendations, and find the card that rewards you the most for your spending.
The decreased rewards rate on your monthly Verizon bill is a sneaky devaluation, since the new 1% rate covers devices you purchase through installment payments on your monthly bill. Those purchases currently earn 2% back. With the change, you’d need to buy your device or accessories from Verizon and pay in full to earn 4% back.
If it’s the only card in your wallet, the changes to the Verizon Visa® Card might arguably be in your favor. With the increased rewards on dining, you’re getting 4x back in each of the “big three” spending categories: restaurants, groceries and gas. Plus, the card will continue to offer a discount of up to $10 per line each month if you’re enrolled in autopay (up to a maximum of 12 lines). Depending on the size of your monthly bill, that kind of discount is still likely more valuable than the bonus rewards you’d earn for paying that bill.
However, taking advantage of that discount means you’re locked into the card’s new 1% rate on your monthly Verizon bill. That’s a poor return on spending for a card that’s co-branded with the company’s name. Also, keep in mind that rewards are still issued in the form of “Verizon Dollars,” meaning they can only be redeemed within the Verizon ecosystem and not toward a statement credit or cash back. Of course, since you’re already paying for cell service each month, you’ll always be able to redeem those rewards. But it’s still not as flexible as cash back.
Consider, for example, the Wells Fargo Active Cash® Card, which offers up to $600 in coverage if your cell phone is stolen or damaged, on up to two claims per year, subject to a $25 deductible. Simply pay your monthly cell phone bill with your card to qualify. On top of that, it earns an unlimited 2% cash back on all qualifying purchases. Rewards never expire and can be redeemed in a variety of ways, including a statement credit, direct deposit or gift cards.
Source: nerdwallet.com
Are you wondering what the best passive income apps are? The best passive income apps can help you make money and build wealth while sleeping, on vacation, and more. With passive income apps, you can make money using just your phone or computer. These apps help you earn money in different ways, like investing in…
Are you wondering what the best passive income apps are? The best passive income apps can help you make money and build wealth while sleeping, on vacation, and more.
With passive income apps, you can make money using just your phone or computer. These apps help you earn money in different ways, like investing in stocks, getting cash back when you shop automatically, or renting out your things.
Passive income is money you earn without having to work all the time. You might need to do some work at the start, but after that, the money keeps coming in with little effort.
You don’t need to spend hours every day to see results. Many of these apps are easy to use and free, so they are a great way to improve your finances with little effort.
Using the right mix of passive income apps can help you make extra money regularly or even make a full-time income.
Recommended reading: 18 Passive Income Ideas To Earn $1,000+ Each Month
Below are the best passive income apps:
Freecash is a popular passive income app that helps you make some extra money with little effort. You can earn by completing tasks, such as taking surveys or downloading apps.
Another way that you can earn passive income with this app is by referring people to the app. You can earn up to 30% of your referral’s earnings for as long as they are a member. Your referral earnings start at 5% and can go up from there, all dependent on your affiliate earnings.
I have personally earned over $300 in passive income referral earnings from this platform (in addition to affiliate income), so I know that this is real.
Click here to sign up for Freecash.
RVshare is a money making app where you can rent out your RV to others. This can help you make extra money every month. Many people use RVshare to turn their RV into a good source of passive income.
If you have an RV that you’re not using, you could make $100 to $300 a day, or more, by renting it out to others through RVshare.
RVshare is a great app for making money because it helps travelers save by renting RVs directly from owners, without a middleman. It’s like Airbnb, but for RVs.
You can rent many types of RVs on RVshare, such as:
RVshare handles all payments securely and sends money to your bank account one business day after each rental starts.
You can learn more about RVshare here.
Neighbor is a self-storage app that lets you rent out extra space in your home. You can make money by offering spots like your garage, driveway, or even a spare room.
You can use this website to rent out your unused space and make up to $15,000 a year. With Neighbor, you can rent out your garage, driveway, basement, parking lot, shed, warehouse, carport, attic, street parking, or even a closet.
You can choose your own prices and decide which reservations you want to accept and host.
Neighbor provides $1,000,000 in host liability protection for your peace of mind. You also receive automatic monthly deposits directly to your bank account for fast payment.
Here’s how Neighbor works:
You can sign up for Neighbor for free here.
You can also learn more about Neighbor at Neighbor Review: How To Make Money Renting Your Storage Space.
Swagbucks is a popular app that lets you earn money for doing simple tasks online. You can use it on both your phone and computer.
You earn points, called Swagbucks (also known as SB), for activities like taking surveys, watching videos, and browsing the web. These points can be redeemed for gift cards or cash via PayPal.
I have personally received over 110 gift cards from Swagbucks (I like to redeem my points personally for free Amazon gift cards).
Here are some ways to earn on Swagbucks:
Swagbucks is free to join and use, making it a great choice for anyone looking to make some extra money with little effort.
You can join Swagbucks through my referral link, and receive a $10 bonus.
Fundrise is one of the highest-paying passive income apps that lets you invest in real estate with income generating assets. You can start with as little as $10 and get started in around 5 minutes.
Fundrise pools your money with other investors to buy properties, such as single family homes, apartments, and industrial properties. You earn money from rent and property sales.
Investing in real estate can be risky, so make sure you understand what you’re getting into. Fundrise has an easy-to-use app and detailed updates on your investments.
Remember, your money is tied up for a while, so this is for long-term goals. Fundrise makes real estate investing simple and accessible.
You can sign up for Fundrise here.
Honeygain is a popular passive income app that lets you earn money effortlessly just by sharing your unused internet bandwidth and your internet connection. You can install it on your desktop or mobile device.
Here’s how Honeygain works:
You earn money based on the amount of internet traffic routed through your connection. Honeygain pays $1 for every 10 GB of traffic.
Ibotta is a free cash-back app that helps you save money when you shop. You get rewards from shopping both in-store and online.
With the Ibotta app, you sign up for an account, unlock rebates and rewards, shop at stores like Walmart, Target, Kroger, and more, verify your purchases, and then earn cash. You can redeem rebates from hundreds of stores, and it doesn’t cost you anything – it’s free money!
Plus, Ibotta lets you earn cash back both online and in-store, setting it apart from other companies.
Ibotta stands out as one of the easiest passive income apps because you earn money while shopping as usual. It pays you in cash or gift cards for stores like Amazon and Starbucks.
Please click here to join Ibotta.
Airbnb can be a great way to earn passive income with minimal effort. By renting out properties short-term, you can make extra cash without much day-to-day work.
Whether you have an extra room, a vacation home, or even just a spare couch, Airbnb lets you list your space for short-term rentals, transforming unused real estate into a regular income source.
Airbnb manages bookings, payments, and provides insurance coverage, making it convenient for hosts once everything is set up. With its worldwide presence and easy-to-use platform, Airbnb continues to be a leading choice for earning passive income through property rentals.
Acorns is a popular app that helps you save and invest your money without effort. It rounds up your everyday purchases to the nearest dollar. Then it invests the spare change into a diversified portfolio.
For example, if you buy a coffee for $3.50, Acorns rounds it up to $4.00. The extra $0.50 is invested.
You can click here to sign up for Acorns.
Rakuten is an easy-to-use app that helps you earn cash back from your shopping. You don’t need to do anything special. Just shop at over 2,500 stores and retailers through the app, the Rakuten website, or by downloading the Rakuten browser extension, and you can earn payouts.
Simply choose a store from their extensive list (including Kohl’s, REI, Toys”R”Us, and more), shop online as usual, and earn cash back effortlessly.
Rakuten earns a commission for directing you to the store where you shop, and they share a portion of that commission with you as a reward.
You can join Rakuten here.
Capital One Shopping is an app that helps you save money while you shop online.
You don’t need to be a Capital One customer to use it. Just download the browser extension and start using it right away.
This automatic savings app stands out because it requires no extra effort on your part. The Capital One Shopping app automatically searches for and applies the best coupon codes as you check out, making sure that you get the most savings possible on your purchases.
You can learn more about Capital One Shopping here.
Fetch Rewards is a fun way to earn rewards from your shopping receipts. You just take pictures of your receipts using the app and you get points.
I use Fetch Rewards all the time and it takes less than one minute to earn points. This mobile app is incredibly user-friendly and one of my favorites. I’ve been using it for a while now, and it’s super easy to earn rewards on the shopping you’re already doing.
With Fetch Rewards, you earn points by scanning receipts from any store – whether it’s a grocery store, clothing store, restaurant, or gas station. Then, you can redeem your points for gift cards to places like Target or Amazon, as well as other rewards.
Here’s how Fetch Rewards works:
You can sign up for Fetch Rewards here.
You can also read my review at My Honest Fetch Rewards Review.
Robinhood is a popular app for investing in stocks, cryptocurrency, options, and exchange-traded funds (ETFs). It’s easy to use and has no fees or commissions, which makes it great for beginners.
Plus, Robinhood’s app is simple and clean. You can see your investments and track their performance easily.
Robinhood also allows you to buy fractional shares. This means you can invest in expensive stocks with just a few dollars.
You can even invest in dividend-paying stocks on Robinhood.
When you invest in dividend-paying stocks, you’re buying a piece of a company that gives you money regularly. Think of it like getting a small thank you for holding on to the company’s stock. These payments usually come from the company’s profits and they’re called dividends.
Turo is an app that lets you rent out your car to make extra money. It is a peer-to-peer program where you cut out the middle person and rent out your car.
With Turo, you can earn about $500 or more per month with just one car. If you own a couple of cars, you might make over $2,000 per month. Your earnings depend on the type of car and how often it’s rented.
Just like renting out your RV when you’re not using it, you can also rent out your car!
It’s a cost-effective option compared to traditional rental car companies for customers, and it’s a great way to earn extra money if you’re working from home and your car isn’t in use or if you have a two-car household.
I have rented cars a few times on Turo and I have always had a good experience. It looks like a possibly good way for a person to make money.
M1 Finance is an app where you can earn passive income.
Some of the ways you can earn passive income through this app are by investing your money in the stock market (you can customize your investment portfolio with over 6,000 stocks and ETFs) as well as saving your money in their high-yield account (at the time of this writing, their high-yield savings account rate was 5.00%).
Masterworks is an app that lets you invest in fine art.
You don’t need to be wealthy to own a piece of famous art. Masterworks purchases valuable paintings and you can buy shares in these artworks. When the painting is eventually sold, you receive a portion of the profit.
Below are answers to common questions about passive income apps.
There are many ways to make $1,000 a month passively, such as by renting out a space on Airbnb or Neighbor, renting out a car or RV, investing in an investment app such as Masterworks or Robinhood, and more.
Yes, you can make passive income from an app. Some passive income apps include Neighbor, RVshare, Freecash, and M1 Finance.
You can make passive income from your phone by installing apps that pay you for different things, such as renting out your stuff, getting cash back, or investing your money. For instance, Honeygain pays you for sharing your internet data, while Rakuten gives you cash back for shopping. These apps run in the background, requiring minimal effort from you once set up.
You can make $5,000 a month passively by investing more of your money in different kinds of investments, such as stocks and rentals. It may take some time to get to $5,000 a month in passive income, but it is possible.
The highest-paying passive income apps depend on how much time, effort, and money you put into it. But, generally, passive income apps where you are investing your money (such as in the stock market) or renting out things you own (like a property rental or vehicle rental) typically pay the most.
Free passive income apps include Freecash, RVshare, Neighbor, Airbnb, Honeygain, Rakuten, and Acorns.
I hope you enjoyed this article on the best passive income apps.
As you can see, there are many ways to make money with passive income apps. Some will allow you to earn simply some spare cash, whereas others you may be able to build up and eventually earn a full-time income.
Some may require you to invest your money up front (like Fundrise), and some of them are free passive income apps (like Honeygain or Fetch Rewards).
The best passive income app depends on what you are looking for, the amount of time you have, and the amount of risk that you want to take on.
What is your top passive income app?
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Source: makingsenseofcents.com