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Almost everyone wants to find ways to make more money. It’s only natural, as making more money may allow you to:

  • Pay off debt
  • Travel more
  • Retire early
  • Stop living paycheck to paycheck
  • Afford the things you want in life
  • And more!

One of the things that usually stops people from making more money is a lack of time. However, making more money and managing side hustles all depends on how badly you want it.

Some people may not want it as badly, and that’s fine. However, excuses won’t help you, so if you really want to make more money, then you will have to find more time in your day.

Just think about it: What do you think you could do with an extra 5-10 hours, or even more, each week?

Whether you want to transform your side hustle into your full-time career, want to make more money to tackle a financial goal, or something else, finding ways to make more money can completely change your life.

While I don’t side hustle any more, I am always looking for ways to increase my income. Before, I used to side hustle, work a full-time job, attend college, volunteer, and more. Now I mainly just focus on my business and managing a comfortable work-life balance.

Related:

Whatever it is that you are trying to balance, below are my tips for finding time to make more money.

Be realistic about how much time you have

Everyone has the same 24 hours in a day, but others may be more limited than others. I understand that different situations can make a person quite busy. In the end you always need to be honest with yourself about how much available time you have to make more money.

You don’t want to run yourself ragged, forget about the things that truly matter in life, hurt your work performance, and more.

However, many people do have extra time in their days but just don’t realize it. For one week, I recommend keeping track of the time you spend on various tasks and see how much time you waste.

You’ll most likely be very surprised and learn how to find extra time to make money.

Wake up earlier

When I had my day job, I would usually wake up around one to two hours before I had to start getting ready for work. I would use this time to work on my side hustles, which included replying to emails, brainstorming ideas, managing my blog, finding mystery shops, and more.

Sometimes, waking up early was rough, but it was nice to get everything done before I went to work.

If you’re not a morning person, you can always try to fit in time before you go to bed. Often I would even work on my side hustles for a few hours before I went to bed.

If you spent two hours every day before you went to work, you could put 10 hours each week towards your side hustle ideas.

Related: 9 Tips To Wake Up Early & Why It Feels So Good

Get rid of time wasters

I want you to do something right now. Yes, right at this moment!

Take a moment and really think about how much time you waste watching TV and browsing social media.

According to Neilsen statistics, the average person in the U.S. spends 40 hours each week watching TV and movies. Plus, according to AdWeek, adults spend nearly two hours every day on social media. For teenagers the amount of time increases dramatically, to nearly 9 hours a day!

That is an enormous amount of time being wasted.

Use short gaps in your day wisely

Everyone has gaps in their day. This could be a gap before you have a meeting, a gap between your day job and night classes, a gap before you have to pick up the kids from school, or something else.

Maybe you have 30 minutes or an hour. Most people will just plunk down on the couch and watch TV or browse Facebook. However, you should find ways to wisely use these gaps in your.

Multitask correctly, if you can

You may want to try to multitask, as long as it does not decrease the quality of your work or cause you to waste more time.

Some examples of easy and productive multitasking include:

  • While I am cooking a meal I work at the same time. Instead of just standing and making a meal, I use the little breaks I have to work. Or, I may even use that time to do short exercises, such as lunges, sit ups, squats, and more.
  • If you are on the phone and on hold, you could do something while you are waiting, such as creating your grocery list, short workouts, finishing up an email, and more.
  • Do all of your errands in one trip instead of spreading it over a longer period.

You do want to keep in mind that some people are good at multitasking, whereas some are not. There is proof that multitasking can actually result in you wasting time, because it can take time to get yourself ready every time you stop and start a task.

I recently read something that said whenever you start and stop a task you waste at least 25 minutes. That adds up over time!

Due to this, you will want to be smart when it comes to multitasking, and see what is and isn’t helping you.

Rethink your commute

This one may not be for everyone, as many people do need to drive to work. However, if you commute to work using something like a bus or train, then you might want to efficiently use this time by working on your side hustle jobs.

If your side hustle is something that you can do from your phone, laptop, or just with a piece of paper, then this can be a great time to brainstorm ideas and work on your side hustle.

Stay organized

Being organized can help you save time and make more money.

Here are some surprising statistics about being unorganized that I found from Simply Orderly:

  • The average person spends 12 days per year looking for things they can’t find.
  • Every day the average office worker spends 1.5 hours looking for things.
  • In a recent survey, 55% of consumers stated they would save anywhere from 16 to 60 minutes a day if they were organized.

Strategically use your lunch time

When I had my day job, my lunch time was almost always used for my side hustles. I would often bring my lunch to work, which allowed me to save money on food and to use that whole hour for my side hustle ideas.

Right there, that’s five hours every week for side hustles, just by using your lunch hour.

What do you do to save time, so that you can make more money? What time management tips do you have to share?

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Source: makingsenseofcents.com

Apache is functioning normally

If you’re moving away for college and planning to bring a car, remember to check how this change might impact your car insurance. You might need to purchase your own car insurance policy, for example, or you may be able to stay on your parents’ policy if you meet certain conditions. Having the right coverage in place can help ensure you’re covered in case of an accident.

The best car insurance for college students

While many of the best car insurance companies provide discounts to college students, some are more generous than others. Below, Bankrate’s insurance editorial team selected five top car insurance providers that offer competitive rates to college-aged drivers on their parents’ policy, according to 2023 auto insurance rate data pulled from Quadrant Information Services.

Each company is listed with its Bankrate Score, which shows how well each insurance provider performs overall, on a five-point scale. Our team calculates Bankrate Scores by analyzing each company’s average premiums, coverage offerings, discount options, complaints filed with the National Association of Insurance Commissioners (NAIC), mobile app, J.D. Power score for customer service and AM Best rating for financial strength. The closer a company scores to five, the better it performs across each category.

Insurance company Bankrate Score Average full coverage premium with a student discount on their parents’ policy Average full coverage premium without a student discount on their own policy
Geico 4.4 $2,523 $4,048
State Farm 4.2 $2,689 $7,089
Progressive 4.2 $3,163 $7,088
Farmers 3.8 $2,762 $6,567
Allstate 3.8 $4,184 $7,089

*Rates calculated for 18-year-olds students, either on their parents’ joint policy with a student discount applied or on their own policy without a student discount applied

Geico

Why we picked this carrier: Geico offers a low average full coverage rate when adding an 18-year-old college student to their parents’ car insurance policy.

If you’re looking for cheap car insurance, you may want to get a quote from Geico. Geico’s average annual cost for full coverage car insurance for 18-year-olds on their parents’ policy is $2,523 per year with a good student discount. College students may also be able to qualify for other discounts to further bring down the cost, like Geico’s discounts for membership in several organizations. The company received a high Bankrate Score of 4.4 for its wide range of discounts and low average premiums. However, the company lost a few points for its lack of optional endorsements. Unlike some of its competitors, Geico does not offer a 24-hour helpline.

PROS


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    Offers discounts for fraternity, sorority, honor society and other membership organizations


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    Several student discounts available


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    Low average rates for college students added to their parents’ policy

CONS


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    No 24/7 helpline


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    Few optional endorsements

Learn more: Geico insurance review

State Farm

Why we picked this carrier: State Farm offers a generous potential discount percentage for good students.

Parents with 18-year-old students on their State Farm auto policy pay an average annual cost of $2,689 for full coverage car insurance with a good student discount. State Farm offers savings for eligible college students who can maintain a GPA of at least 3.0. Students attending school away from their primary residence without a car may also be eligible for a distant student discount, and combining these two discounts could result in an even lower premium. The company received one of the highest Bankrate Scores on our list for its low average premiums, accessible mobile app and excellent online policy management. However, if you’re interested in buying accident forgiveness coverage, a State Farm policy wouldn’t be ideal. The company only offers the coverage as a perk earned by having a certain number of claim-free years on your record, which can’t be bought.

PROS


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    Low average rates for college students added to their parents’ policy


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    Good student and distant student discounts available


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    Offers a safe driving program for teens called Steer Clear

CONS


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    Gap insurance unavailable


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    Accident forgiveness can’t be purchased, only “earned”

Learn more: State Farm insurance review

Progressive

Why we picked this carrier: Progressive’s Snapshot telematics program could be a great savings opportunity for college students who drive safely and infrequently.

Progressive’s average annual cost of full coverage car insurance for 18-year-olds on their parents’ policy is $3,163 with a good student discount. In addition to the standard good student and distant student discounts, Progressive also offers Snapshot, a usage-based car insurance program — which could help lower your rate based on your driving habits. The company earns a high Bankrate Score for its exceptionally wide range of coverage options, plentiful discounts and seamless online policy management. However, the company tends to have lower-than-average customer satisfaction ratings according to J.D. Power.

PROS


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    Usage-based car insurance available


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    Good student and distant student discounts available


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    Offers an automatic teen discount for drivers age 18 and younger

CONS


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    Typically ranks lower than the average in J.D. Power customer satisfaction


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    Rates may differ between online and agency quotes

Learn more: Progressive insurance review

Farmers

Why we picked this carrier: Farmers offers several discount opportunities to students.

Parents with 18-year-old college students on their policy pay an average of $2,762 for their insurance each year with Farmers with a good student discount applied. Farmers also offers a youthful driver discount for anyone under 25 who is a child or grandchild of a current policyholder. While Farmers scored well in terms of mobile app and policy management, the company doesn’t have 24/7 customer support and is not available nationwide.

PROS


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    Students who make the dean’s list or honor roll may be able to save


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    Several student and young driver discounts available, such as the Youthful Driver discount


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    Offers a telematics program called Signal

CONS


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    Not available nationwide


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    No 24/7 support

Learn more: Farmers insurance review

Allstate

Why we picked this carrier: Allstate has multiple discount opportunities for college students.

Although Allstate has a high average premium for a student on their parents’ policy, college students may be able to apply discounts to bring down the cost of auto insurance. College students who can maintain a GPA of at least 2.7 may qualify for a good student discount, which is more generous than many other insurers’ good student discount qualifications. The company’s Bankrate Score was impacted by its high premiums. However, it gained points for its A+ (Superior) AM Best financial strength rating and user-friendly policy management.

PROS


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    Money-saving programs such as Smart Student and teenSMART available


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    Several student discounts available


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    Robust digital tools

CONS


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    High average premiums


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    Fewer additional coverage options than other carriers

How can college students lower their car insurance premium?

Because car insurance rates for young drivers are significantly higher than the national average cost of car insurance, finding ways to save money may be critical. To find cheap car insurance for college students, you may want to get several quotes to give you an idea of what you will pay. Some other ways to save include:

Student discounts

Many car insurance companies offer discounts designed specifically for college students, such as:

Earning good grades in school demonstrates to insurers that you are responsible, making it more likely that you are a responsible driver and often earning you a discount.

Another way to save money on car insurance is to complete a driver’s education course. For example, drivers with a Geico insurance policy could save by completing a defensive driving course to refresh their memory on the rules of the road.

You could save money by leaving your car at home when you are away at school. Most car insurance carriers will discount your rate if you a a certain number of miles away without a car, prorating your premium to reflect the months you are away at school and not using your vehicle.

Students can often save by demonstrating their safe driving practices through insurance programs designed for young drivers. For instance, there are savings programs like American Family’s Teen Safe Driver, for drivers under age 21, and State Farm’s Steer Clear program, for young drivers up to age 25. After completing the program, drivers could get a discount on their car insurance.

Affiliation discounts for students

Many insurance companies also offer discounts for students who participate in certain organizations or associations, such as:

Geico offers car insurance discounts for fraternities, sororities and even honor societies, along with an extensive list of other organizations.

Some companies may offer discounts if you are an alumni of a certain university or even if you’ve simply completed a two- or four-year degree.

If a parent is a veteran or military member, you might save extra money on your car insurance through military discounts. As a military-only provider, USAA is one option for military discounts for your car insurance, but a few other companies offer military discounts, too, such as Geico, The General and Liberty Mutual.

Other ways to save

In addition to student and affiliation discounts, there are other ways college students can help lower car insurance premiums using these additional savings programs:

  • Lower your mileage: When you spend less time on the road, there’s a lower risk of accidents happening, so many carriers will offer lower car insurance premiums to drivers who rack up fewer miles.
  • Drive a used car: Newer cars may be more expensive to repair or replace, so rates could be higher. A used car is generally cheaper to fix and may qualify you for lower car insurance premiums than a new car. Driving a vehicle with extra safety features is another way to potentially earn lower premiums, so explore models with safety features like anti-lock brakes, electronic stability control, forward-collision warnings and automatic emergency braking.
  • Explore pay-as-you-go insurance: Instead of paying full price for car insurance, you might be able to sign up for pay-per-mile insurance, which monitors your driving and charges your car insurance accordingly. It’s a popular option with several car insurance companies: Allstate offers its Milewise program and Nationwide has its SmartMiles program.
  • Car additions: Some additions and upgrades may make your car safer and help you save money on car insurance premiums.
    • Dash cams: Dash cameras could help reduce car insurance rates by reducing the likelihood of crime involving your vehicle and also protecting you against false liability claims that could cost your insurer money. Discounts for dash cams aren’t common, but you may find a carrier that offers one.
    • Navigation systems: A GPS navigation system can help keep you feel more prepared when driving, helping you drive slower and more safely, which could translate to lower rates.
    • Anti-theft device: A car alarm or other anti-theft device may earn you extra discounts by lowering the risk of theft or vandalism.

Ways to save on driving

Driving can be expensive, especially so for college students on tight budgets. Keeping transportation costs low can help students afford to keep their cars and maintain insurance on the vehicle. Here are some ways to save on gas and vehicle maintenance. 

How to save on gas

Gas can be pricey, especially if you drive often. Here are some ways to lower your gas costs:

  • Choose a car with good gas mileage: College students often commute between home and school, so a car with excellent gas mileage can easily save hundreds of dollars each year. 
  • Use a rideshare service: Using rideshare services like Uber and Lyft can help you save on gas costs, and may be especially cost-effective if you opt for group ridesharing, where you split the cost with others.
  • Utilize public transportation: Public transportation can almost entirely eliminate transportation expenses. Buses, trains or subways are often a fraction of the cost of driving and are usually accessible at most colleges or universities.
  • Invest in a bicycle: A bicycle can be an even better substitute for public transportation, especially for students in urban areas. Using a personal bicycle is free after purchase, and there are also typically lots of options for low-cost bike sharing or rentals in more populated areas.
  • Carpool with your classmates or colleagues: If you must drive, consider setting up a carpool or car-sharing arrangement with classmates or colleagues who live along your route. They will probably appreciate the opportunity to save money and it gives you the added benefit of some company during the commute. Just be sure to talk to your insurer if you’re exchanging money for gas and maintenance, to make sure you’re still covered.

How to save on maintenance

Maintenance costs should be factored into buying a vehicle as well, as they can be a large portion of your car budget. Here are some tips to save on maintenance:

  • Find car deals for new graduates: Many car manufacturers offer special purchase deals for current college students or recent graduates to buy a new car. There may also be short-term leasing specials available for students for those not ready to purchase a vehicle.
  • Ask about student savings programs for oil changes: Another potential place to save is regular oil changes. College students can burn through many miles and require more frequent oil changes, but many of the larger chains, such as Jiffy Lube, offer students discounts.
  • Utilize free tire and air fill-up services: To save extra money on diagnostic and professional services, check your tire pressure yourself. Most gas stations offer free or cheap stations to check tire pressure and add air if necessary.
  • Research DIY repairs: There are several basic car repairs that can be done at home. Learning how to do essential maintenance can save money on parts and high labor costs. It will also save time to repair the car on your own schedule. These basic repairs are easy to learn and can save hundreds of dollars. Before attempting them, it’s worth researching potential safety hazards so that you can avoid complications:
    • Change the battery.
    • Change the oil.
    • Change your spark plugs.
    • Replace tail lights or headlights.
    • Swap out windshield wipers.

Methodology

Bankrate utilizes Quadrant Information Services to analyze 2023 rates for ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region. Quoted rates are based on a 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits:

  • $100,000 bodily injury liability per person
  • $300,000 bodily injury liability per accident
  • $50,000 property damage liability per accident
  • $100,000 uninsured motorist bodily injury per person
  • $300,000 uninsured motorist bodily injury per accident
  • $500 collision deductible
  • $500 comprehensive deductible

To determine minimum coverage limits, Bankrate used minimum coverage that meets each state’s requirements. Our base profile drivers own a 2021 Toyota Camry, commute five days a week and drive 12,000 miles annually. 

These are sample rates and should only be used for comparative purposes. 

Age: Rates were calculated by evaluating our base profile with age 18 (base: 40 years) applied. The 18-year-old driver on their own policy is a renter. Age is not a contributing rating factor in Hawaii and Massachusetts due to state regulations.

Source: thesimpledollar.com

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How much do you need to retire? The usual suggestion provided by financial planners and retirement calculators is 75% to 85% (roughly 80%) of your pre-retirement income. But is that really enough money to retire with security? Does the 80% rule-of-thumb work under all circumstances, or is it merely a rough approximation to simplify the retirement planning process? Let’s examine these issues more closely…

Is 80% Of Pre-Retirement Spending A Realistic Budget?

The basis for the 80% spending rule is that your living expenses are expected to decline once you retire thus your spending should decrease without forcing you to lower your lifestyle. For example, you’ll no longer need to purchase expensive professional clothing and your transportation costs will drop without a daily commute to work. Additionally, your children will probably be grown and out of the house, and you will no longer have to fund your retirement savings. You may even have your home paid in full thus eliminating your mortgage payment and you may be in a lower tax bracket. All these factors indicate your spending should drop during retirement.

Unfortunately, the issue is not as clear as it might appear on the surface. The analysis above assumes certain types of spending will decrease while all other spending remains the same. That is not realistic. For example, many new retirees like to hit the open road and see the world thus increasing their travel budgets. Similarly, it is the rare retiree who does not face rising health care costs.

In short, the 80% rule of thumb is a generalization designed to simplify the retirement planning process at the expense of accuracy. It makes many assumptions about your future that may not be true for you. It is no substitute for making a real budget based on your actual plans for retirement, and it could actually jeopardize your financial security. To make this point clear we will examine five reasons why your expenses may actually increase during retirement instead of decrease…

Longer And More Active Retirements

People are living longer and more active retirement lifestyles than ever before. Increasing longevity has made 60 the new 40. If you plan an early retirement so you can sail around the world or take frequent wine-tasting trips to France and Italy, the cost of those leisure activities and travel can easily offset any decrease in work-related expenses. Alternatively, if you are planning an early retirement it will mean you need more money to support a longer life of leisure. A longer retirement means you can’t spend as much investment principal each month, and a more active retirement means you need more savings and income to support a more expensive lifestyle.

Health Care In Retirement

Health care costs have risen steadily and there is every reason to believe that trend will continue. Additionally, your chances of serious illness or need for expensive medications increases with age. A single medical event can be devastating to your retirement savings if you are not prepared, and if you don’t have long term care insurance then assisted living or nursing home expenses can deplete your retirement savings.

Other Ways Expenses Could Rise

Maybe you haven’t paid off your house, or possibly you took out a home equity loan to remodel. The 80% rule-of-thumb assumes you no longer support dependents, but you may still be paying a child’s college expenses. Alternatively, you might be caring for an aging parent who is living in your home. These expenses certainly won’t go away just because you retire.

Lower Taxes May Be Wrong

The assumption that your taxes will drop during retirement could be totally incorrect. After all, if your retirement income level is similar to pre-retirement income then where will the tax relief come from? In addition, growing budget deficits at all levels of government combined with entitlement program problems indicates a greater likelihood of rising tax rates rather than falling tax rates. In short, the idea that your tax rate will decrease during retirement may turn out to be just the opposite.

Spending Statistics Misrepresent Real Spending

Many research studies have been conducted on the spending patterns of the elderly. One of the more famous studies comes from Ty Bernicke in the Journal of Financial Planning where he cites numbers from the U.S. Department of Labor’s Consumer Expenditure Survey indicating that retirees spend less as they age. A typical 75-year-old spends about half as much as the average 45-to-54-year-old. Overall, spending declines about 25% each decade from age 55 to 75.

This appears to be conclusive evidence that spending does in fact decline with age during retirement; however, there are a couple of major flaws in the research. The first problem results from these figures failing to include long term care costs. You can solve that problem with insurance but there is no solution to the next problem…

Bernicke’s analysis was based on a snapshot in time thus it only compares nominal dollar spending and does not adjust for inflation. In other words, it compares the spending habits of a 75 year old today to the spending habits of a 45 year old on the same day. It does not track a 45 year old over a period of 30 years to determine if their spending decreases with time as the study would imply. Instead, it compares the two different groups at a single point in time.

The problem with this approach is it fails to adjust spending for inflation. A mere 3% inflation will double spending in just 25 years which will more than offset the expected reduction claimed by Bernicke’s research. In fact, it could potentially cause an increase in spending – contrary to what his research would imply.

A More Accurate Approach For Determining How Much Money You Need To Retire

In summary, you would be wise to forget the oversimplified rules of thumb when trying to figure out how much money to retire. Your financial security is at stake and you deserve better. Instead, it is far more prudent to develop a realistic budget for your retirement spending based on your actual retirement plans. You don’t have to make it perfect because nobody can predict the future, but you do want to make it as accurate as you can.

A personal budget for retirement is necessary because your life situation is unique. Only you know the financial situation facing your maturing children and aging parents that might affect your budget. Only you know about your globetrotting plans to travel the world for a decade or two before slowing down. That means you will need to add that expense into your budget for a decade or two before removing it. If you have long term care insurance then add the premiums as an expense into your budget, and if you don’t then build a cushion into your savings for self-insurance. In short, develop a plan for retirement and then develop a budget to reflect your plan.

When you complete the budgeting process you may be happily surprised to learn you only need 60% of pre-retirement income making you better off than expected – or your dreams could require 140% of pre-retirement income causing a challenge. This is key to your financial security because the difference between these two numbers can either break the back of your retirement savings or make a meager nest egg look plentiful. Because the range of outcomes is so wide and the stakes are so high, the only realistic solution is to replace the rule of thumb with a carefully developed retirement budget based on your unique needs to figure out how much you really need for retirement.

It is the only prudent thing to do.

About The Author

Todd R. Tresidder is a financial coach who blogs about retirement planning, wealth building and investment strategy. He wrote the book How Much Money Do I Need To Retire teaching you how to overcome the hidden problems behind retirement calculators that threaten your financial security.

Source: goodfinancialcents.com

Apache is functioning normally

Last January I loaned money to a friend who was in financial crisis: Her vehicle was about to be repossessed. The transaction troubled me for a number of reasons, which I detailed at my personal website in a post called “I’m not a payday lender. But I play one on TV.”

During my trip to the East Coast I spent part of a weekend with “Monica” and her family. (Names have been changed to protect the profligate.)

When we made a Wawa* run, Monica didn’t want me to pay for my own Tastykake.** She threw it in with her own order, which totaled a little more than $34 and which included a coffee cake, a box of doughnut holes, and a $2-plus bottle of iced tea.

I started to feel uneasy. In the next 24 hours, the following additional red flags flew:

  • Monica bought about $100 worth of maternity clothes for her married daughter, who right now is still as thin as a candidate’s promise.
  • They have satellite television and DSL. Her kids have cell phones with text packages.
  • She mentioned she was planning to buy a snow blower, which after their military discount would run “only” about $1,000. (This despite the fact that she lives in a state where it doesn’t always snow in the winter and the fact that she has three healthy teenagers.)
  • Monica also mentioned that her van was about to hit more than 200,000 miles. Her daily commute is about 50 miles each way.

You know what wasn’t mentioned? Paying back my $800.

An Unsustainable Way of Life

This isn’t just a cranky post about being a human ATM. I knew when I gave them the money that I stood to lose it. Actually, I don’t think I will. It took 18 months for the first loan to come back, one $50 check at a time, but ultimately it was paid in full.

After making the second loan I mailed a personal finance book to Monica and her husband, “Gordon.” I also suggested tracking expenses in order to plug money leaks, and urged them to contact a debt management program through the National Foundation for Credit Counseling.

My note concluded, “I know it’s not easy to take a critical look at your life and to realize that no matter what happened in the past, you are responsible for the present. Change is never easy. But no one will help you except you.”

Monica wrote back, promising they’d work to cut expenses. She said she’d already advocated dumping the TV and cell phones.

Nine months later the television is still on, the teens are still texting, and Monica and Gordon are still living an unsustainable, paycheck-to-paycheck lifestyle. Here are a few more details, to show you just how deep their denial runs:

  • Company-wide layoffs are looming at Monica’s workplace.
  • Gordon has lower-back issues and is in his early 60s, so there’s no telling how much longer he’ll be able to keep his job.
  • Neither one has any retirement savings.
  • They don’t have an emergency fund. In fact, they have no savings at all.

That’s right: no cash is being set aside in case that layoff materializes or for when the vehicle finally dies. But there’s money for satellite television, texting and doughnut holes. Maybe a snow blower, too.

Treats Before Necessities?

I’d hoped that the first crisis — nearly losing their home — would force them to wise up. It didn’t. Want to know the reason they needed the second loan? They couldn’t make the van payment because it had taken all available funds to pay…

…wait for it…

Bounced-check fees and Catholic-school tuition for their youngest.

They had money to buy technology and other treats, sprinkling NSF checks along the way, but not for an essential recurring expense. Without a vehicle, Monica couldn’t get to work. But they didn’t think about that.

I worry deeply about their future. It’s a pretty safe bet that more things will go wrong. When does something not go wrong when you own a home and are raising three teenagers?

And when it does, they’ll be right back in oh-shit-now-what mode.

No More Bailouts

In that “payday lender” post, I wrote that I could no longer loan money. But I also admitted that I wasn’t really sure what I’d do if she called again, frantic for cash.

Now I’m sure.

Let me be clear: I’m not suggesting you abandon people who through no fault of their own have wound up holding the gooey end of the lollipop. For example, every other week I send $50 to my 88-year-old aunt. She uses the money for medical co-pays.

That biweekly payment is a line item in my budget. What isn’t in my budget any longer is bailouts. I’m a freelance writer who funds her own retirement and insurance and makes regular charitable donations. And at nearly 54 years of age, I have finally given myself permission to enjoy some of the fruits of my labors (frugally, of course).

It’s important to care about your fellow man. But not if you’re enabling rather than helping.

I’m Not the Loan Arranger

If my friends ask for help again, bailing them out won’t really help them. It would just allow them to postpone, yet again, the very hard and very necessary work of changing the way they spend.

I’m done. Maybe you should be, too. The next time you write a bail-out check, swearing it will be the absolute last loan? Make it stick. Frame it any way you like, but tell your sister/son/frat buddy that you can no longer afford to do this.

Maybe it’s that your own financial stability is at risk. Maybe it’s that you’ve given and given and nothing has changed. Maybe you want to use your money on something for yourself once in a while.

Whatever the reason, state gently but firmly that your career as loan officer is over.

You could find some other way to help, such as:

  • Offering to loan your personal-finance books
  • Helping to create a workable budget
  • Pointing out sites where people can learn smarter spending habits, such as Get Rich Slowly (duh) or MSN Money’s Smart Spending blog
  • If need is imminent — not much food in the house, kids need glasses — direct them to my previous GRS piece, “Unemployed? Underemployed? Here’s how to get help.”

If a relative or friend is a financial train wreck, you owe it to yourself to get off at the next station. It will be one of the hardest things you ever do — and probably one of the most necessary. For your sake, and for the other person’s, close the bank and keep it closed.

Readers: Have you had to cut off a family member or friend who needed rescuing but wouldn’t do much to help himself? Was it tough? Did you offer any non-monetary help, and did the person ever wise up?

Source: getrichslowly.org

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Updated Mar 09, 2023

At Bankrate, we strive to help you make smarter financial decisions. To help readers understand how insurance affects their finances, we have licensed insurance professionals on staff who have spent a combined 47 years in the auto, home and life insurance industries. While we adhere to strict
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At a glance

3.5

Bankrate Score


Caret Down

Auto

3.8


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Cost & ratings

4.0



Coverage

3.5



Support

3.5


Home

3.1


Caret Down

Cost & ratings

2.8



Coverage

4.0



Support

2.3


About Bankrate Score

Bottom Line

If you live in Erie’s 12-state service area, the company could be a great choice for robust coverage and affordable premiums. Erie’s digital tools are lacking compared to its competitors, though, so it may not be the best choice for tech-focused customers.

  • Affordable average premiums for both homeowners and car insurance policies compared to the national average

  • Strong customer satisfaction rankings from J.D. Power

  • Erie’s home insurance offers guaranteed replacement for dwelling coverage in most states

  • Erie auto and home insurance is only available in 12 states and Washington D.C.

  • No usage-based auto insurance program available

  • Only a few homeowners endorsements available

Answer a few questions to see personalized rates from top carriers


Info

What’s new with Erie?

In August 2022, Erie Insurance established Erie Strategic Ventures to help fund entrepreneurs who create innovative products and services for customers and Erie’s independent agents. The company also recently announced the addition of optional extended water coverage for homeowners policies.

Erie car insurance

Founded in 1925, Erie Insurance Group started in Pennsylvania but has since expanded to 12 states and Washington D.C. The company offers coverage options that may be difficult to find among its competitors. Its standard auto insurance policies feature a diminishing deductible, first accident forgiveness for eligible policyholders and Erie Rate Lock, depending on the state. Additional coverage options include roadside assistance, auto glass repair and personal item coverage.

Erie car insurance earned a Bankrate Score of 3.8 out of 5. This Score reflects the company’s coverage options, financial strength, customer satisfaction and available discounts. Erie lost points due to its regional availability and limited digital tools (for example, the mobile app doesn’t have a claims filing option). Erie earned an A+ (Superior) AM Best financial strength rating and placed third in J.D. Power’s 2022 U.S. Auto Claims Satisfaction Study.

Pros and cons of Erie car insurance

Erie’s coverage options and customer satisfaction scores make it one of the best car insurance companies in states where it writes policies. Comparing pros and cons of Erie auto insurance may help you decide if the company could be a good fit for your needs.

PROS


  • Checkmark

    Roadside assistance and rental car reimbursement available


  • Checkmark

    Erie Rate Lock may help keep rates stable over time


  • Checkmark

    Auto policies include pet coverage

CONS


  • Close X

    Available in just 12 states and the District of Columbia


  • Close X

    No telematics or usage-based insurance program available


  • Close X

    Mobile app does not enable policyholders to file a claim from their mobile devices

Erie car insurance cost

Erie is one of the cheapest car insurance companies based on our research of average premiums analyzed from Quadrant Information Services. Erie’s full coverage car insurance costs an average of $1,356 per year, while minimum coverage averages $486 per year. 

Comparatively, the national average cost of car insurance for both coverage levels is higher, at $2,014 per year for full coverage and $622 per year for minimum coverage. Actual rates may vary based on car insurance rating factors, but the premium data below may be a useful comparison tool.

Erie car insurance rates by driving history

Bankrate bases the following average rates on data provided by Quadrant Information Services. This may not represent the price you will pay for car insurance. We do not include average rates for drivers with a history of driving under the influence (DUI) because some insurers may not write policies for motorists with a DUI conviction. If you have a DUI conviction, you may contact your insurance agent to find out how it could impact your car insurance premium.

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Erie average monthly full coverage premium Erie average annual full coverage premium National average annual full coverage premium
Clean driving history $113 $1,356 $2,014
Speeding ticket conviction $123 $1,476 $2,427
At-fault accident $134 $1,607 $2,854
Erie average monthly minimum coverage premium Erie average annual minimum coverage premium National average annual minimum coverage premium
Clean driving history $41 $486 $622
Speeding ticket conviction $44 $527 $748
At-fault accident $49 $592 $892

Erie car insurance quotes by age

Young drivers typically pay some of the highest average car insurance rates. Teens and other young drivers may save by remaining on their parents’ auto insurance policy until they’ve established their own households. The following average rates are based on a motorist on their parents’ policy with a clean driving record, as well as drivers listed on their own policies.

Average cost of car insurance for drivers on their parent’s policy

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Erie average monthly full coverage premium Erie average annual full coverage premium National average annual full coverage premium
Age 16 $240 $2,876 $4,392
Age 17 $225 $2,700 $4,102
Age 18 $219 $2,630 $3,837
Age 19 $209 $2,512 $3,345
Age 20 $205 $2,456 $3,149
Erie average monthly minimum coverage premium Erie average annual minimum coverage premium National average annual minimum coverage premium
Age 16 $86 $1,035 $1,470
Age 17 $81 $970 $1,362
Age 18 $79 $944 $1,261
Age 19 $74 $892 $1,070
Age 20 $73 $876 $995

Average cost of car insurance for drivers on their own policy

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Erie average monthly full coverage premium Erie average annual full coverage premium National average annual full coverage premium
Age 18 $249 $2,988 $6,110
Age 25 $136 $1,630 $2,473
Age 30 $122 $1,461 $2,125
Age 40 $113 $1,356 $2,014
Age 60 $107 $1,279 $1,824
Erie average monthly minimum coverage premium Erie average annual minimum coverage premium National average annual minimum coverage premium
Age 18 $90 $1,081 $1,967
Age 25 $48 $579 $747
Age 30 $43 $520 $647
Age 40 $41 $486 $622
Age 60 $39 $462 $578

Your deductible may be reduced by $100 for each claim-free policy year, up to a $500 maximum. This discount is only available to policyholders who purchase the Auto Plus endorsement, and its availability may vary by state.

Erie may extend both bundling and multi-policy discounts to policyholders who carry more than one insurance policy with the company.

Vehicles equipped with safety and security devices, such as airbags, anti-lock brakes and anti-theft devices, may qualify for a discount.

Erie may extend a discount to policyholders who pay their annual car insurance premium in one lump sum, rather than monthly installments.

Erie car tools and benefits

Erie extends a coverage option for non-owned autos including cars, moving vans and trailers that you use but do not own. This may be ideal for Erie drivers who do not own a vehicle but do drive on occasion.

Erie also sells boat, class car and motorcycle insurance, along with coverage for ATVs, golf carts and snowmobiles.

Erie home insurance

Erie home insurance receives high customer satisfaction scores from J.D. Power as well as 24/7 support for policyholders and a variety of coverage options. Erie offers guaranteed replacement cost coverage as part of its standard homeowners policies as well as additional living expenses.

Although Erie does not allow policyholders to file a claim through their mobile app, the company has more than 13,000 local agents and advertises a 90 percent customer retention rate year over year.

Pros and cons of Erie homeowners insurance

If you’re considering Erie for your homeowners insurance needs, it may be helpful to compare perks and drawbacks you may experience with the carrier. Here are a few of the key pros and cons Bankrate’s editorial team identified:

PROS


  • Checkmark

    Guaranteed dwelling replacement cost coverage included in standard homeowners policies


  • Checkmark

    Ranked 7th in J.D. Power’s 2022 U.S. Home Insurance Study


  • Checkmark

    Standard home insurance policies include up to $500 in pet coverage

CONS


  • Close X

    Only a few discounts available


  • Close X

    Few optional coverages available


  • Close X

    Not available in all states

Dwelling coverage limit Erie average annual premium National average annual premium
$150,000 $659 $975
$250,000 $957 $1,428
$350,000 $1,269 $1,879
$450,000 $1,601 $2,343
$750,000 $2,597 $3,761

Erie home insurance discounts

Home insurance discounts may help you save on your premium. Advertised home insurance discounts with Erie include:

You may earn a discount if your home is equipped with safety features like smoke alarms, security systems and an automatic sprinkler system.

Obtain an Erie homeowners insurance quote seven to 60 days before your current policy’s renewal date and you might earn a discount.

Customers who purchase a life insurance policy in addition to a car or homeowners insurance policy with Erie could earn a multi-policy discount.

Erie home tools and benefits

Erie’s home insurance coverage comes with unique options not found with other carriers. Its home insurance pet coverage extends coverage to up to $500 for animals, including birds and fish.

Erie offers gift card and gift certificate reimbursement coverage for its ErieSecure Home policies. Customers may receive reimbursement for up to $250 per gift card purchased from businesses within 100 miles of their home, with a maximum of $500 per policy period.

Erie life insurance

Erie offers four life insurance products: term life, whole life, universal life and Erie’s exclusive ERIExpress Life. Erie’s term life insurance may be a good option for those who want a fixed coverage term and intend for the policy to pay for expenses that may be burdensome to loved ones, such as funeral costs and mortgage or credit card debt. Whole and universal life have no fixed terms, but universal life offers the most flexible death benefit. Erie’s unique ERIExpress Life policy may be ideal for people looking for a simplified application and fast approval.

Pros and cons of Erie life insurance

The best life insurance company may be different for everyone, and each policy type serves a different purpose. The following pros and cons may help you decide if Erie life insurance is right for you.

PROS


  • Checkmark

    Multi-policy discounts available for policyholders with a life and home or auto policy.


  • Checkmark

    ERIExpress may be available without a medical exam.


  • Checkmark

    Variety of policy types to choose from

CONS


  • Close X

    Only one rider advertised to customize coverage.


  • Close X

    Online quoting is not available


  • Close X

    Only writes policies in 12 states and the District of Columbia

Erie life insurance endorsements

Life insurance endorsements, also called riders, may modify and extend your life insurance coverage. Erie’s life insurance coverage only offers one rider, a long-term care rider. Erie’s long-term care rider is only available for universal and whole life insurance policies. The long-term care rider provides an accelerated death benefit, which pays a portion of your policy’s death benefit to help pay medical expenses incurred following a covered accident or illness that requires long-term care.

Erie life tools and benefits

Erie provides a life insurance calculator on its website to help customers decide which type of policy may best fit their needs. From there, customers can request to be paired with an independent Erie agent to get a quote.

Erie customer satisfaction

Researching third-party ratings may help you decide which insurer best fits your needs. J.D. Power produces annual car insurance and home insurance studies that rate and rank insurers based on their customer satisfaction. These include the national U.S. Auto Claims Satisfaction Study and more regional U.S. Auto Insurance Study.

Agencies such as AM Best, Moody’s and Standard and Poor’s analyze the financial strength of insurers and produce ratings that may indicate the financial strength of individual companies. Erie has earned an A+ (Superior) AM Best financial strength rating.

Lastly, the National Association of Insurance Commissioners (NAIC) produces an annual complaint index report to track the prevalence of complaints lodged against insurance companies. The index employs a baseline of 1.0. Scores below 1.0 indicate that a provider had fewer complaints than expected for a company its size and vice versa.

Erie auto satisfaction

In J.D. Power’s 2022 U.S. Auto Claims Satisfaction Study, Erie ranked third in the market, with an overall customer satisfaction score of 893 out of 1,000. More regionally, Erie came in first for overall customer satisfaction in the mid-Atlantic and North Central regions. Erie has an NAIC Complaint Index of 0.56 for its private passenger policies, indicating fewer customer complaints than expected for a company its size.

Erie homeowners satisfaction

Erie ranked above average in J.D. Power’s 2022 U.S. Home Insurance Study, earning an overall customer satisfaction score of 827 out of 1,000. Erie’s homeowner policies have an impressive NAIC Complaint Index of 0.09, indicating very few complaints from policyholders.

Erie life satisfaction

Erie wasn’t rated in the annual life insurance study conducted by J.D. Power, potentially due to the company’s small size when compared to national life insurance carriers. However, the Erie Family Life company, which underwrites Erie’s life insurance products, has an NAIC Complaint Index of 0.46, which is less than half of the 1.00 baseline. Based on this data, Erie’s life insurance customers may be satisfied with the service they receive, since fewer-than-average complaints were filed.

How to file a claim with Erie

Erie gives auto and home insurance policyholders two ways to file a claim. They can contact their Erie agent or call the 24/7 claims center at 800-367-3743. Life insurance customers can file a claim by contacting their Erie agent or by calling 800-458-0811.

Erie availability

Erie writes car and home insurance policies in the District of Columbia and the following states:

  • Illinois
  • Indiana
  • Kentucky
  • Maryland
  • New York
  • North Carolina
  • Ohio
  • Pennsylvania
  • Tennessee
  • Virginia
  • West Virginia
  • Wisconsin

Erie sells life insurance in the District of Columbia and all of the aforementioned states, except New York.

Other Erie perks worth considering

Erie also offers business insurance including business automobile insurance. Business policies may protect a variety of businesses, including breweries, contractors, religious organizations, retailers and veterinarians.

Erie also offers a long list of other insurance and financial products for customers, including:

  • Financial services: Erie offers Medicare supplemental coverage (Medigap) and retirement accounts, including annuities and individual retirement accounts (IRAs).
  • Renters, condo and mobile home insurance: Erie offers a variety of insurance policies for other dwellings and living situations.
  • Flood insurance: Erie sells standalone flood insurance policies for homeowners and business owners.
  • Personal valuables insurance: This coverage may be purchased to financially protect jewelry, art, sports equipment, collections, musical instruments and more.

Erie corporate sustainability

Through The Giving Network, Erie and its employees volunteer time and money with organizations focussed on community building, environmental responsibility and safety. These initiatives include partnering with United Way and American Red Cross, as well as supporting other culture and arts organizations, entrepreneurship, education and environmental responsibility. In November 2022, the provider’s The Giving Network awarded $50,000 in grants to 10 northwest Pennsylvania environmental organizations.

With the company’s ERIE Service Corps, employees are encouraged to use a full work-day volunteering in their local community. The Corps also has a matching donation program and established the H.O. Hirt Scholarship Fund and the F.W. Hirt Employee Emergency Fund to more immediately meet the financial needs of their community.

Not sure if Erie is right for you?

Erie offers a variety of auto, home and life insurance products, but it does not write policies in all states. If you live outside Erie’s service area or need an insurer that offers a more diverse portfolio of products, you might consider one of these carriers:

Erie vs. Allstate

Allstate sells car and homeowners policies in the District of Columbia, Puerto Rico and all states except New Jersey. While Erie extends a multi-policy discount to policyholders, Allstate offers more ways to potentially reduce your premium. For instance, if you switch to Allstate, you might earn up to a 10 percent discount, plus an additional 10 percent savings each time you renew your policy. Allstate also offers a robust mobile app that allows policyholders to file claims virtually.

Learn more: Allstate insurance review

Erie vs. Travelers

Unlike Erie, Travelers offers optional rideshare coverage and gap insurance. Travelers extends many potential home insurance discounts including potential discounts for purchasing a new home and owning a LEED-certified green home. However, Travelers ranks lower than Erie in the 2022 U.S. Home Insurance Study and does not sell life insurance products.

Learn more: Travelers Insurance review

Erie vs. AAA

AAA Life Insurance Company sells term life, universal life and whole life insurance policies. AAA’s traditional term life policies offer coverage up to $5 million and give you the option to add a child term endorsement, which provides up to $20,000 in coverage for each eligible child. AAA’s roadside assistance program is robust and enables you to request battery, flat tire, emergency fuel delivery, locksmith, mechanical first aid and towing services from the convenience of the AAA mobile app. Bear in mind that AAA coverages, discounts and optional coverages may vary by location.

Learn more: AAA insurance review

Is Erie a good insurance company?

Erie has excellent financial strength ratings and earned high marks in J.D. Power’s customer and claims satisfaction studies. Additionally, the provider has NAIC Complaint Indexes that are far lower than baseline.

While Erie includes some perks in its standard auto insurance policies, like roadside assistance and rental car reimbursement, the carrier falls behind in the market by not offering a comprehensive mobile app or telematics program.

Erie’s standard homeowners policies feature guaranteed dwelling replacement cost coverage, which most insurers only offer as an endorsement, but they extend few optional coverages and discounts. Overall, Erie offers a solid portfolio of auto, home and life insurance products, but the provider only writes policies in a handful of states.

Clock Wait

46

years of industry expertise

122

carriers reviewed

20.7K

ZIP codes examined

Dollar Coin

1.2M

quotes analyzed

Methodology

Bankrate utilizes Quadrant Information Services to analyze 2023 rates for ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region. Quoted rates are based on 40-year-old male and female homeowners with a clean claim history, good credit and the following coverage limits:

Auto

  • $100,000 bodily injury liability per person
  • $300,000 bodily injury liability per accident
  • $50,000 property damage liability per accident
  • $100,000 uninsured motorist bodily injury per person
  • $300,000 uninsured motorist bodily injury per accident
  • $500 collision deductible
  • $500 comprehensive deductible

To determine minimum coverage limits, Bankrate used minimum coverage that meets each state’s requirements. Our sample drivers own a 2021 Toyota Camry, commute five days a week and drive 12,000 miles annually.

Age: Rates were calculated by evaluating our base profile with the ages 16-60 (base: 40 years) applied. Depending on age, drivers may be a renter or homeowner. Age is not a contributing rating factor in Hawaii and Massachusetts.

The rates for drivers ages 16–20 added to their parent’s policy reflect the good student and driver’s training discounts applied. The rates for drivers aged 16-20 on their own policy do not include the good student and driver’s training discounts. Additionally, 25-year-old rates are based on the driver as a renter and 30+ on the driver as a homeowner.

Incidents: Rates were calculated by evaluating our base profile with the following incidents applied: clean record (base), single speeding ticket and single at-fault accident.

Homeowners

  • Coverage A, Dwelling: $150,000, $250,000, $350,000, $450,000, $750,000
  • Coverage B, Other Structures: $15,000, $25,000, $35,000, $45,000, $75,000
  • Coverage C, Personal Property: $75,000, $125,000, $175,000, $225,000, $375,000
  • Coverage D, Loss of Use: $30,000, $50,000, $70,000, $90,000, $150,000
  • Coverage E, Liability: $300,000, $300,000, $300,000, $300,000, $500,000
  • Coverage F, Medical Payments: $1,000

The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required).

These are sample rates and should be used for comparative purposes only. Your quotes will differ.

Bankrate Scores

Our 2023 Bankrate Score considers variables our insurance editorial team determined impacts policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories.

Like our previous Bankrate Scores, each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. This year, our 2023 scoring model provides a more comprehensive view, indicating when companies excel across several key areas and better highlighting where they fall short.

  • Tier 1 (Cost & ratings): To determine how well auto and home insurance companies satisfy these priorities, 2023 quoted premiums from Quadrant Information Services (if available), as well as any of the latest third-party agency ratings from J.D. Power, AM Best and the NAIC, were analyzed.
  • Tier 2 (Coverage & savings): We assessed companies’ coverage options and availability to help policyholders find a provider that balances cost with coverage. Additionally, we evaluated each company’s discount options listed on its website.
  • Tier 3 (Support): To encompass the many ways an auto and home insurance company can support policyholders, we analyzed avenues of customer accessibility along with community support. This analysis incorporated additional financial strength ratings from S&P and Moody’s and factored a company’s corporate sustainability efforts.

Tier scores are unweighted to show the company’s true score in each category out of a possible five points.


Savings

Compare rates and save on auto insurance today!

Source: thesimpledollar.com

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12 Low-Stress Jobs You Can Do in Retirement

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Just because you retire doesn’t mean you have to stop working. And when work is an option rather than a requirement, it’s possible to select a low-stress job that multiplies fulfillment without adding anxiety — but still provides a bit of much-appreciated income. There are, in fact, a variety of such low-stress, high-reward jobs well-suited to the needs of retirees.

A financial advisor can help you devise a plan that will give you the flexibility to make choices in retirement.

Working in Retirement

People may continue working after retirement for a variety of reasons, including the benefits of generating additional income, the satisfaction of making a contribution and the stimulation of staying engaged. If nothing else, work can get them out of the house and fill the hours formerly devoted to their careers.

Many jobs are, however, likely to be more trouble than they are worth to a typical retiree. If what you are after is fulfillment without stress, it doesn’t make much sense to apply for a position as, say, a law enforcement officer working undercover for a drug-smuggling ring. Fortunately, there are many jobs that offer lots of benefits without lots of stress.

Low-Stress Jobs for Retirees

The work you do in retirement can be an extension of your former career or head off in a diametrically opposed direction. Either way, here are 12 possibilities:

Tutoring

Decades of life experience can admirably equip retirees to work as part-time tutors to students at various levels of education. English as a Second Language, for example, is a subject area many retirees can assist students with, while maintaining flexible hours and keeping supervision and red tape to a minimum.

Pet Care

For people who like getting outside and spending time with animals, walking dogs is a way to get paid for enjoying themselves. Sitting, grooming and transporting dogs as well as cats and other pets can offer similar appeal.

Massage Therapist

Many massage therapists see clients at their own homes or in annexes on the property, meaning there’s no commute and little hassle or overhead. If you enjoy helping others through the healing properties of touch, this could be a retirement gig for you.

Personal Trainer

A dedicated runner, swimmer, biker or gym rat, can get paid for sharing their knowledge and passion for fitness with others who are chasing their own fitness goals. Tasks include selecting exercises, structuring workouts and developing training plans.

Consultant

If you had a lengthy career in nearly any knowledge-based field, you may be able to monetize that experience in retirement while also being able pick and choose your clients, working flexible hours and even earning a handsome income, all as a self-employed consultant to businesses.

Life Coach

If helping individuals as opposed to businesses is more your style, you can set yourself up as a life coach helping people reach fulfillment by attaining goals in their professional and personal lives.

Travel Agent

Many who love to travel find earning fees and commissions as travel agents to be a good job in retirement. The work involves recommending destinations, organizing itineraries and booking tickets for transportation, lodging, meals and events.

Library Worker

Bibliophiles can surround themselves with books and get paid for the privilege by working at the library. Many positions are part-time and tend, almost by definition, to be low in noise, hustle and bustle.

Tour Guide

Museums, historical sites, nature centers, monuments and other attractions commonly employ guides to provide visitors with information and assistance as they tour the facility. The positions are well-suited to retirees who want to make some extra money and interact with a variety of people in a relaxed environment.

Personal Shopper

Retirees can shop until they drop without having to spend a dime of their own money – and even earn a few bucks – by working as personal shoppers. This job involves serving people who need help choosing clothing and accessories that fit their personal styles.

Landscape Artist

Cultivating b eautiful landscapes is a passion for many retirees. A peaceful day tilling the soil can also be a source of income with a job as a gardener or landscaper.

Event Coordinator

If you possess robust organization skills and are detail-oriented, there is always a demand for people who can plan and coordinate weddings, parties, conferences and other events.

Bottom Line

Although there probably are as many reasons for continuing to work after retiring as there are working retirees, it’s a safe bet that few if any are showing up for work in search of added stress. Fortunately, there are plenty of jobs open to retirees that pair high levels of fulfillment with low levels of stress.

Retirement Planning Tips

  • Generating sufficient income in retirement can be a challenge without the help of an experienced and qualified financial advisor. Finding a financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three vetted financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
  • Whether you are retired and working mostly for non-financial means or still in the workforce and focused on earning income, SmartAsset’s paycheck calculator will tell you how much your employer will withhold from your check for federal, state and local taxes.

Photo credit: ©iStock.com/yacobchuk, ©iStock.com/Inside Creative House, ©iStock.com/lucigerma

Mark Henricks
Mark Henricks has reported on personal finance, investing, retirement, entrepreneurship and other topics for more than 30 years. His freelance byline has appeared on CNBC.com and in The Wall Street Journal, The New York Times, The Washington Post, Kiplinger’s Personal Finance and other leading publications. Mark has written books including, “Not Just A Living: The Complete Guide to Creating a Business That Gives You A Life.” His favorite reporting is the kind that helps ordinary people increase their personal wealth and life satisfaction. A graduate of the University of Texas journalism program, he lives in Austin, Texas. In his spare time he enjoys reading, volunteering, performing in an acoustic music duo, whitewater kayaking, wilderness backpacking and competing in triathlons.

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As rent prices continue to soar all over the country, you may be finding yourself entering your first real estate search.

You’re not alone. According to the National Association of Realtors, millennials are ending their leases and buying homes in large numbers. Those in their late 20’s to early 30’s now make up the fastest-growing segment of buyers today. But how to even shop for a home these days?

First-time buyers might remember being dragged to Sunday open houses with their looky-loo parents, but those days are gone. Everything is online, and many real estate apps have sprung up to help buyers find their dream homes.

The 7 Best Home Buying Apps

  • Zillow: Best for overall use
  • Trulia: Best for community insight
  • Homesnap: Best for convenience
  • Redfin: Best for multilevel support
  • Rocket Homes: Best for one-stop shop
  • Realtor.com: Best for reliability
  • Homes.com: Best for quicking listing updates

Best Home Buying Apps at a Glance

App Best For Details Key Feature
Zillow Overall usability Virtual tours Push notifications SEE DETAILS
Realtor.com Reliability 3D tours Detailed descriptions SEE DETAILS
Trulia Community insight 34 map overlays 30M neighborhood reviews SEE DETAILS
Rocket Homes One-stop shop Agents/lenders links Area trend reports SEE DETAILS
Homesnap Convenience High-definition photos Optimized for mobile SEE DETAILS
Redfin Multilevel support User-friendly interface Calculates mortgage/fees SEE DETAILS
Homes.com Quick listing updates Home showings via Zoom Mortgage calculator SEE DETAILS

Zillow


Pro

  • Between for-sale-by-owner and official properties, it provides users access to over 135 million property listings.


Con

  • The “Zestimate” algorithm uses tax records to produce home value estimates, which sometimes are inaccurate.

The Zillow house-hunting app app is the most downloaded real estate app on the Apple store and Google Play — and for good reason. Its database constantly updates and has 36 million users monthly. You can set up push notifications for new real estate listings that meet your search criteria so you’ll never miss out on your potential dream home.

The app allows you to filter real estate listings by price, ZIP code, square footage, must-have features and more. You can even coordinate your search with a partner or roommate by tagging home features and sharing your favorites.

Zillow provides 3-D tours and a scheduling feature to set up an in-person tour. One of its best features is self tours of Zillow-owned homes, a feature available in some markets that allows house hunters to stop by the property at their convenience and simply unlock the house with the app.

Newly added to the Zillow app is a “natural-language search” tool, which responds to user questions in direct fashion, rather than requiring users to type multiple search questions to get to where they want to go.

Realtor.com


Pro

  • It’s the official search portal for the National Association of Realtors, meaning its updates are the most accurate.


Con

  • ​​Clicking on “contact agent” will not go to the listing agent, but instead to a local real estate agent who has paid for this lead service.

Realtor.com is one of the best home buying apps out there for on-market listings. Being the official search portal for the National Association of Realtors means you can trust the home listings that pop up in your search. The data is directly mined from the MLS (multiple listing service) and refreshes every 15 minutes.

The search features include a wide variety of filters and provides the most detailed real estate listing descriptions, which include things like crime rates, school ratings, property tax and history of home value estimates — even things like the neighborhood noise levels or whether a home is in a FEMA flood zone.

Because the app updates so often, setting up push notifications means you’ll quickly know when a new property hits the local market. You’ll also have the power of the “Sign Snap” tool in your pocket the next time you drive by a “for sale” sign. All you have to do is take a photo and Realtor.com pulls all of the home’s details instantly.

Trulia


Pro

  • Shows names and contact information for listing agents, so users know who they would be working with for each listing.


Con

  • You’re prompted to call or email the listing agent on any property you view, which can get in the way of casual browsing.

Acquired by Zillow in 2015, Trulia has access to most of Zillow’s database of over 135 million active listings and has become one of the best real estate apps. What sets it apart is the focus on community insight provided by those who are located in the area you are searching. You’ll not only get details on the property, but information on what it’s like to live in that specific neighborhood.

You’ll be alerted about price reductions and upcoming open houses, and the app will recommend new listings. Insights sourced straight from locals and 34 neighborhood map overlays offer details on commute times, nearby businesses, crime rates, nearby schools, and more.

Two other features added in 2018 distinguishes the Trulia app from others. “What locals say” and “local legal protections,” combine local feedback and public data to provide information about what a neighborhood is like, from level of dog-friendliness, day-in-the-life details, and even how folks decorate for the holidays.

You’ll also be able to see whether there is legislation in the area to protect against discrimination for gender identity or sexual orientation in employment, housing or public accommodations.

Rocket Homes


Pro

  • Lets you access your TransUnion credit report, which is updated every week.


Con

  • ​​Does not provide a home value estimate.

Similar to Trulia, Rocket Homes puts an emphasis on getting to know your soon-to-be neighborhood, but from a market statistics perspective.

This real estate knowledge will come in handy when searching for a home. You can compare properties in the area, seeing how long they’ve been on the market and what they sold for. If you’re not planning on living in your first home forever, this will help give you an idea of what kind of return on investment you can expect from your purchase in the future.

Rocket Homes is a product of Quicken Loans, giving you the opportunity to shop for homes from new and updated listings and have access to lending services all in one place.

This real estate app also helps you stay on track when it comes to some of the more boring parts of purchasing a home, like tracking your credit score. Rocket Homes gives you access to a free TransUnion credit report that is updated frequently, so you know exactly where you stand before starting the mortgage application process.

Homesnap


Pro

  • Get extensive details on a home just by snapping a photo of it.


Con

  • Lack of coverage in some areas; Homesnap must partner with individual multiple listing services.

The Homesnap real estate app is perfect for the on-the-go house hunter. You can simply snap a photo of a home and get all of the data available. This feature means you have real-time connection to your local multiple listing service from the road.

If you choose to search from the comfort of your home instead, the Homesnap app allows you to search for open houses by date, and even provides live-broadcast, virtual showings if you want to avoid mingling with other buyers in person.

You can collaborate with your real estate agent through a built-in private messaging function that automatically saves your listings for quick reference. Like most real estate apps, you have a ton of customizable filters for efficient searching, and will be provided with up to date information about the home and neighborhood like commute times, satellite photos and more.

Redfin


Pro

  • Updates every five minutes so you never miss a new listing.


Con

  • ​​If you don’t live in one of the 90 U.S. and Canada markets where Redfin has agents, you won’t be able to connect with one.

Redfin’s out-of-the-box-business model combines the convenience of a high-performance app and the expertise you can only get by working with a real estate agent directly. Because Redfin is also a brokerage firm, you’ll have access to their top-quality real estate agents.

Working with a real estate agent gives you more in-depth market insights so you can make smart home buying decisions. And through the “Hot Homes” feature you’ll know which homes are more likely to sell fast so you don’t miss your chance of putting in an offer while house hunting.

Redfin also recently updated its data on climate risk, school ratings and neighborhood amenities.

Homes.com


Pro

  • Most of 2020 was spent updating the speed and user-friendliness of the app.


Con

  • ​​Limited information on neighborhood and demographic data.

The Homes.com app is partnered with the MLS to bring you quality leads on your home buying search. The app offers a plethora of filter criteria like the other apps, such as square footage, ZIP code, number of bedrooms and bathrooms, but has an emphasis on lifestyle. Not only will you find the best house, but in the neighborhood that’s right for you.

The exclamation icon makes it easy to spot new real estate listings when scrolling through your search results. You also have the option to “favorite” or “block” certain properties in your feed so you can revisit the ones you love and eliminate the ones you don’t.

The mortgage calculator on Homes.com includes specific financing options like FHA (Federal Housing Administration) loans and special rates for active military members or retired veterans.

Frequently Asked Questions (FAQs) About Home Buying Apps

There’s a lot of home buying apps to pick from when you are seriously or even casually looking for a home. We’ve rounded up answers to some of the most common questions about home buying apps.

Which App is Best for Buying a House?

The best app for buying a house is the one that fits your needs. But Zillow is the most popular because it does a lot of things right, including allowing users to filter information by price, ZIP code, square footage, must-have features and more. Zillow also lists for-sale-by-owner homes. Zillow is the most downloaded real estate app on the Apple store and Google Play. It gets a 4.7 rating out of 5 from 475K reviews on Google Play. In the Apple App store, more than 6 million reviews get Zillow a 4.8 rating.

What are Home Buying Apps?

Home buying apps are mobile tools accessible on various digital devices that let users see listings to buy, sell or rent a property. Different apps have unique features but all of them include multiple photos of properties, prices, property tax and loan information and the ability to connect with real estate professionals.

Home buying apps provide many benefits to users because of their national coverage and even global offerings. Users can see maps and learn about neighborhoods, too. Best of all, they are free.

How Accurate are Home Buying Apps?

Because home buying apps take information from various sources, there will always be a margin of error in valuations. Estimated values are made from information gathered from county and tax assessor records, multiple listing services and real estate companies. 

For properties on the market, the apps should have accurate asking prices or rental amounts. Where there is more variation is on property estimates, including for properties not on the market. You should consider these ballpark figures and not 100% accurate especially in a hot market when prices are jumping seemingly daily.. The apps are a good place to start but most people follow that information with a call to a real estate professional.

What is the Best House Hunting Site?

Zillow is the best overall site with its massive listing bank while Realtor.com is tops for reliable information. Trulia is excellent if you want more information about the community around a home. Homesnap is tops for photos and it is optimized well for mobile. If you want to connect with a Realtor, check out Redfin and if you want a direct line to a lending service, Rocket Homes may be the right pick for you.

Which App is Better: Zillow or Redfin?

Zillow edges out Redfin because of its massive reach. Redfin is not available in every market. However, Redfin is a brokerage which connects directly to the massive database of real estate listings commonly called MLS. Zillow does not do that. Zillow allows for sale by owner listings and Redfin does not.

What is the Most Popular Real Estate Website?

Zillow is the leading real estate website with more than 36 million unique visitors a month and about 135 million live listings. Trulia, which Zillow has owned since 2015, comes in second with 23 million unique visitors. Zillow was founded in Seattle in 2006 and claims to be the most accurate at price estimates, called ‘Zestimates” though there are lots of claims otherwise. 

The Bottom Line About Home-Buying Apps

As you can see, if you’re ready to break up with your landlord, calculate what down payment you can afford and start your journey to home ownership, you have plenty of house-hunting apps to take advantage of.

Along with all the other details involved in this adventure, it may take some trial and error to find the app that hones in on your specific house-hunting search criteria. But it’s worth spending the time if it helps you get everything you want in your first home.

Contributor Tiffany Beyer is a social media coordinator and marketer specializing based in St. Petersburg, Florida. She specializes in real estate and lifestyle issues stories. Freelancer Kent McDill contributed to this post. 

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Source: thepennyhoarder.com