Charleston, often referred to as “The Holy City,” is a place of historic charm and modern possibilities. With its cobblestone streets, vibrant neighborhoods, and a cultural scene that rivals any other city in the South, it’s no wonder that many people dream of calling Charleston their home. However, life in this picturesque city comes with its own set of challenges. So whether you’re searching for a historic apartment in downtown Charleston or a cozy apartment in Mount Pleasant, you’ve come to the right place.
In this ApartmentGuide article, we’ll explore the various pros and cons of living in Charleston, helping you decide if this Southern gem is the right place for you.
Fast facts about living in Charleston
Population: Approximately 140,000 residents
Average rent: $1,450 per month for a one-bedroom apartment
Median home sale price: $646,000
Public transit: Charleston Area Regional Transportation Authority (CARTA) provides bus services
Public parks: Over 120 parks and green spaces for recreation and relaxation
Annual tourists: Approximately 7 million visitors each year
Restaurants: Over 800, offering a wide variety of cuisines from around the world
1. Pro: Rich cultural and historical heritage
Charleston is a city steeped in history and culture. From the well-preserved antebellum architecture to the numerous historical landmarks, living in Charleston offers a glimpse into the past. The city is home to the Charleston Museum, the oldest museum in America, as well as many historic homes. Annual events such as the Spoleto Festival USA and the Charleston Wine + Food Festival highlight the city’s cultural vibrancy.
2. Con: High cost of living
The overall cost of living in Charleston is about 1% less than the national average, but certain expenses can still be high. Housing costs are relatively affordable, with the median sale price for a home in Charleston around $646,000 and the average rent for a one-bedroom apartment in Charleston about $1,450 per month, which is 2% less than the national average. However, utility bills are 22% more expensive, and groceries are 2% higher than the national average. On the positive side, transportation costs are 10% less, and healthcare costs are 12% lower.
3. Pro: Strong job market
Charleston has a growing job market, particularly in the technology, healthcare, and hospitality sectors. The city is home to several major companies, providing ample job opportunities and contributing to the city’s economic stability.
Top employers in Charleston
Boeing
Medical University of South Carolina (MUSC)
Roper St. Francis Healthcare
College of Charleston
Blackbaud
4. Con: Hurricane risk
Charleston’s coastal location makes it susceptible to hurricanes and tropical storms. Hurricane season runs from June to November, and residents need to be prepared for potential evacuations and property damage. While modern building codes and infrastructure improvements help mitigate some risks, the threat of hurricanes remains a significant concern for Charleston residents.
5. Pro: Beautiful beaches and outdoor activities
Charleston offers easy access to some of the most beautiful beaches on the East Coast. Residents can enjoy sunbathing, swimming, and water sports at beaches like Folly Beach, Sullivan’s Island, and Isle of Palms. The city also has numerous parks and green spaces for hiking, biking, and picnicking, making it an ideal location for outdoor enthusiasts.
Popular outdoor spots in Charleston
Folly Beach
Sullivan’s Island
Isle of Palms
Waterfront Park
Angel Oak Park
6. Con: Traffic congestion
Charleston’s growing population and popularity as a tourist destination contribute to significant traffic congestion, especially during peak seasons. The city’s historic layout and narrow streets can exacerbate traffic issues, making commuting time-consuming and frustrating. While efforts are being made to improve infrastructure, residents often face long commute times and limited public transportation options.
7. Pro: Culinary diversity
Charleston is known for its diverse and vibrant culinary scene. From traditional Southern cuisine to innovative contemporary dishes, the city offers a wide range of dining options to suit every palate. Food festivals, such as the Charleston Wine + Food Festival and the Lowcountry Oyster Festival, showcase the city’s culinary creativity and provide opportunities for residents to explore new flavors.
Popular restaurants in Charleston
Husk
FIG
The Ordinary
Magnolias
Fleet Landing
8. Con: High humidity and heat
Charleston’s climate is characterized by hot, humid summers and mild winters. The high humidity levels, particularly during the summer months, can make the heat feel more intense and uncomfortable. Residents need to be prepared for the humid conditions and take measures to stay cool and hydrated.
9. Pro: Strong sense of community
Charleston is known for its strong sense of community and Southern hospitality. The city hosts numerous events and festivals throughout the year, such as the Spoleto Festival USA and the Charleston Christmas Parade, which bring residents together and foster a sense of camaraderie. Charleston’s neighborhoods, such as the French Quarter, West Ashley, and Mount Pleasant, offer a variety of living environments with active community associations and local initiatives that enhance the quality of life.
10. Con: Limited public transportation
While the Charleston Area Regional Transportation Authority (CARTA) provides bus services, the city’s public transportation system is limited compared to larger metropolitan areas. The city has a transit score of 24, a walk score of 40, and a bike score of 50. This means that most daily errands require a car, which can be inconvenient for those who prefer not to drive or do not own a vehicle. The spread-out nature of the city and limited service hours can make commuting challenging without a car.
11. Pro: Access to quality education
Charleston is home to several esteemed educational institutions, including the College of Charleston and The Citadel. Additionally, the city has a variety of public and private schools providing quality education for all. The presence of these institutions enhances the city’s appeal to students and professionals seeking advanced education opportunities.
12. Pro: Iconic landmarks
Living in Charleston means having iconic landmarks that contribute to the city’s unique character and charm right at your doorstep. These sites are great for sightseeing, offering educational and recreational opportunities for residents and visitors alike. From historic sites to modern attractions, these landmarks reflect the rich history and vibrant culture of Charleston, making it a fascinating place to live.
Iconic landmarks in Charleston
The Battery
Rainbow Row
Fort Sumter National Monument
Charleston City Market
Middleton Place
13. Pro: Green spaces
Despite its urban nature, Charleston offers numerous green spaces where residents can escape the concrete jungle. The city’s extensive park system provides residents with ample opportunities for relaxation, recreation, and outdoor activities. These green spaces serve as a much-needed respite from the city’s fast pace, offering walking trails, picnic areas, sports facilities, and beautiful natural scenery.
Popular parks in Charleston
Waterfront Park
Hampton Park
White Point Garden
James Island County Park
Marion Square
14. Con: Limited nightlife
While Charleston offers a variety of dining and entertainment options, its nightlife scene is not as vibrant as larger cities. The city has a more laid-back atmosphere, with fewer late-night venues and entertainment options. Residents seeking a bustling nightlife might find the options limited, though there are still plenty of local bars, breweries, and restaurants to enjoy. For those who crave more excitement, larger cities like Atlanta and Charlotte are within driving distance.
The interest rate of a business loan can vary widely and will depend on the market, the type of loan, and the lender.
On average, the annual percentage rate (APR) for a traditional bank loan ranges from 6.13% to 12.36% The APR for a business loan from an alternative or online lender, on the other hand, can run anywhere from 6% to 99%.
The actual rate that a lender will offer will also be based on your qualifications as a borrower, such as your personal and business credit score, annual revenue, debt-to-income ratio, cash flow, number of years in business, and whether or not you’re able to secure the loan with collateral.
Here’s what you need to know about business loan interest rates and how to get the best loan at the lowest cost for your business.
5 Factors That Determine Business Loan Interest Rates
Below are some of the key factors that influence interest rates on small business loans.
1. General Interest Rates
One of the biggest factors that affects what interest rate you’ll get on a small business loan is the current market rate. The current market rate is determined by the supply and demand in financial markets, central banks (such as the Federal Reserve), prevailing economic conditions, and inflation expectations.
2. Lenders
When you compare interest rates from different lenders, you’ll generally find that banks typically offer some of the lowest rates. These loans can be difficult to qualify for, however, and the application and approval process can take weeks or months to complete. Online and other alternative lenders tend to charge higher rates but have more flexible qualification criteria and are faster to fund.
3. Types of Loans
There are many types of small business loans on the market, and each has their own interest rate range. Here’s a look at the average interest rates for common types of business loans as of May 2024:
Loan Product
Average APR
SBA loan
11.5% to 15%
Traditional bank term loan
6.13% to 12.36%
Online term loan
6% to 99%
Invoice financing/factoring
10% to 79%
Business line of credit
10% to 99%
Merchant cash advance
40% to 350%
Bank Small Business Loans
A traditional bank term loan can be difficult to qualify for, but if you do, you’ll see they have some of the better interest rates on business loans — averaging 6.13% to 12.36% APR.
If you have strong credit and consistent revenue, have been in operation for a few years, and don’t need the funds right away, a bank or credit union may provide you with the best terms. If you’ve already established a relationship with a particular bank or credit union, say by opening a business bank account, you might want to explore their business loan options.
Online Term Loans
Average interest rates tend to run higher for business loans offered by online lenders — ranging anywhere from 6% to 99%. However, it’s typically easier to qualify for this type of business loan than it is for a bank term loan. As a result, online term loans can be a good option if your business has poor credit or hasn’t been in operation for very long. Online lenders also offer short-term loans that are not typically available from other sources.
SBA Loans
SBA loans are partially guaranteed by the U.S. Small Business Administration and issued by participating lenders, typically banks. Due to government backing, SBA loans offer businesses access to financing with more lenient credit requirements and lower down payment requirements compared to conventional bank loans. SBA loans also come with attractive rates (currently around 11.5% to 15%) and some of the best repayment periods — some as long as 25 years.
Business Lines of Credit
With a business line of credit), a company can borrow up to a certain amount of money, as needed, and use the funds for virtually any type of business expense.. As the business repays the funds, they become available to borrow again.
A line of credit can be a great option for small businesses facing frequent cash flow issues. It can also be a good thing to have in your back pocket in case of emergencies.
Advertised rates for lines of credit are almost always low, but your business’s characteristics will determine how much you’ll pay. Generally, the APR for a business line of credit can start around 10%, but they can go much higher. Like a credit card, though, you only pay interest on what you use.
Invoice Factoring
Invoice factoring is a short-term financing method that allows businesses to sell unpaid customer invoices to an invoice factoring company. You can often get up to 85% of your unpaid invoices up front. The factoring company then collects payment from your customers and gives you the remaining balance — minus fees. While these fees can be hefty — as high as 79% — invoice factoring can help a business get past difficult financial times.
Recommended: How to Dispute a Business Credit Report
Merchant Cash Advances
A merchant cash advance (MCA) allows your business to exchange your future earnings for immediate cash. With an MCA, you receive a lump sum of cash from an MCA provider, which you pay back using a percentage of your daily sales. MCAs are typically easier to qualify for than traditional business loans, but tend to come with higher costs. Instead of interest rates, MCAs come with factor rates — often around 1.20 to 1.50. To determine the cost of an MCA, you multiply the total amount of cash advanced to you by the factor rate. For example, If you get $20,000 and have a factor rate of 1.25, the total cost is $25,000 ($20,000 x 1.25), which includes the $20,000 advanced to you and $5,000 in fees.
Keep in mind, though, that there may be additional fees on top of the factor rate.
Recommended: How Much Down Payment for Business Loan?
4. The Business’s Finances
No matter what type of lender you work with or what type of loan you pursue, your business’s finances will likely be thoroughly studied by an underwriter when you apply for a small business loan.
Here are some things lenders typically will look at when considering whether or not to give you a loan and, if so, at what rate.
Credit Scores: Personal and Business
Each lender has its own criteria for establishing interest rates, but personal and business credit scores are usually one of the main determining factors.
If you recently launched your business and don’t have much credit history, lenders will likely look at your personal credit profile. Generally, a higher score will help you get a lower interest rate.
Lenders often require a minimum personal credit score to qualify for financing. Banks may look for scores of 680 or higher, while online lenders may accept scores in the 500s.
Lenders will also look at your business’s credit score. Instead of ranging from 300 to 850, business credit scores typically range from 1 to 100. Dun & Bradstreet’s Paydex score (one of the more commonly used scoring models) has three risk categories, as follows:
Low risk: 80-100 Moderate risk: 50-79 High risk: 0-49
If you have a “low risk” business credit score, it likely means that you pay your bills on time and maintain a healthy credit utilization ratio. If this is the case, you can expect to receive some of the best rates on small business loans.
Business Income
How much money you bring in each year can be a key factor in determining whether you will get approved for a loan, how big of a business loan you can get, and what the interest rate will be.
A business with a strong, predictable revenue stream has a good chance of getting approved for a high loan amount with a low interest rate. If you’re just starting out and your monthly revenue is still picking up steam, you may have trouble taking out certain types of business loans.
Time in Business
The amount of time you’ve been in business also impacts the interest rate a lender will offer you. If your business is new, you will likely pay more in interest, even if your cash flow is better than more established companies. The magic number many banks want to see is often two years. It’s not uncommon for a new business to fail shortly after they’ve opened, so the fact that you’re still standing after two years is a good sign to a lender.
Quantity of Collateral
Lenders often require borrowers to put up a fixed asset (like property or equipment) to secure a loan. This reduces risk for the lender because if you default on the loan, they can seize your collateral and sell it to make up for their losses.
If you’re applying for an SBA loan or bank loan, for example, lenders will want to know what kind of collateral your small business has to offer and the value of that collateral. It’s possible to get a loan without collateral, but these loans, called unsecured loans, typically come with higher interest rates.
5. Industry
Some businesses are statistically more likely to fail than others. For example, first-year failure rates tend to be higher for companies in food service, finance/insurance, real estate, and professional/technical services.
If your business is considered a risky business to lend to, you may receive a higher rate. In addition, some lenders have certain industries that they won’t lend to (such as firearms businesses) that could affect their reputation.
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Fixed vs Variable Interest Rates
When looking at loans, you may have a choice of getting a fixed or variable interest rate.
A fixed-rate loan has the same interest rate and monthly payment for the life of the loan. This means your first payment will be the same amount as your last payment.
Businesses often choose loans with fixed interest rates so they can easily budget for the payments. In addition, if interest rates are currently low, a fixed interest loan is a way to lock in that rate for the duration of the loan.
A variable-rate loan may have different payments from one month to the next. If the market fluctuates, the rate you pay could go up or down over the life of the loan.
Variable-rate loans tend to have lower rates than fixed-rate loans at the outset. For a short-term loan, a variable interest rate can end up being a good deal for the borrower. But there is some risk involved, as the rate can increase and you need to be prepared to make that higher monthly payment.
Pros and Cons of Variable-Rate Business Loans
Pros of Variable-Rate Business Loans
Cons of Variable-Rate Business Loans
May start with a lower interest rate than a fixed-rate loan
Loan repayments increase when interest rates rise
When rates go down, so do your monthly payments
You won’t know the total cost of the loan until it’s paid off
Total cost of the loan could end up being less than a fixed-rate loan
If rates rise quickly, loan may become more expensive than a fixed-rate loan
Pros and Cons of Fixed-Rate Business Loans
Pros of Fixed-Rate Business Loans
Cons of Fixed-Rate Business Loans
Fixed monthly payments
May come with a higher interest rate than a variable-rate loan
Borrowers are protected against rising interest rates
If rates go down, you won’t benefit unless you refinance
You know the total cost of the loan from the very beginning
May not be ideal for short-term business loans
Recommended: A Guide to SBA Loans
How To Compare Business Loan Rates
When comparing small business loans, you’ll want to look at more than just the interest rate. In fact, when lenders advertise only a monthly interest rate, it can be deceiving.
A monthly interest rate is simply how much interest you would be charged in one month. It doesn’t include any other charges associated with the loan, which may include one-time charges like origination and application fees, or recurring fees like a monthly service charge.
To better understand how much money you’ll actually be required to pay over the lifetime of your loan, and to make sure you’re comparing loans apples to apples, you’ll be better off comparing annual percentage rates, or APRs. An APR includes not just the interest rate but also the associated loan fees. It gives you the total annual cost of the loan, expressed as a percentage.
Business Loan Fees
Possible fees for business loans include:
• Application fee
• Processing fee
• Closing fee
• Origination fee
• Prepayment fee
• Late payment fee
• Monthly service fee
How To Calculate Total Business Loan Cost
Not all lenders use an APR when quoting the cost of their business loans. If all you see is an interest rate, you can figure out the total cost of taking out the loan by using one of the many business loan calculators available online. In order to use one of these tools, you’ll need a few pieces of information, including:
• The loan amount
• The annual interest rate
• Other fees associated with the loan (origination fees, closing costs, etc.)
• The loan term
From there, you can see the loan’s total cost as well as what your monthly payments will be.
The Takeaway
The average small business loan interest rate depends on the overall market rate, the type of loan, the lender, your business’s financials, and the industry your business is in. Overall, traditional bank loans tend to offer better rates than other loan products. However, they may not be the best fit for your business if it’s new, doesn’t have a strong or well-established credit profile, or needs financing relatively quickly.
To get the best rate on a small business loan, it’s important to shop around and compare offers, take steps to build your business credit profile, and consider using collateral to secure the loan.
If you’re seeking financing for your business, SoFi can help. On SoFi’s marketplace, you can shop top providers today to access the capital you need. Find a personalized business financing option today in minutes.
With SoFi’s marketplace, it’s fast and easy to search for your small business financing options.
FAQ
What’s the difference between a fixed and a variable business loan rate?
A fixed business loan rate remains the same throughout the term of the loan, which means your first and last payment will be the same.. A variable business interest rate, on the other hand, fluctuates based on market conditions, potentially offering lower initial rates but with the risk of increasing over time.
How do you qualify for a low business interest rate?
To qualify for a low interest rate, your business will generally need to have a good credit score, a strong cash flow, and have been in business for two years or more. Offering collateral can also lead to a lower interest rate.
What is a good interest rate on a small business loan?
A good interest rate on a business loan depends on the type of loan you’re looking to get.. For example, a good interest rate on a bank term loan might be 6% or 7%, while rates on SBA 7(a) loans currently start at 11.5% APR.
What is the minimum interest charged by business loans?
Each loan type comes with its own interest rate range. An SBA 7(a) loan of more than $50,000, for example, comes with a base interest rate (current prime rate) plus a maximum of 6.5%.
Why are SBA loan rates so high?
SBA loan rates are tied to the prime rate, which is set by the Federal Reserve. As the Fed has steadily increased the market prime rate, SBA loan rates have climbed accordingly.
Photo credit: iStock/MicroStockHub
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To its conservative authors and backers, Project 2025 is a detailed road map for a complete remaking of the federal government — a next step in a “second American revolution,” that will be bloodless “if the left allows it to be,” in the words of one of the project’s principal architects.
Those on the opposite end of the political spectrum have denounced the plan with words like “chilling,” “terrifying” and “extreme,” and are calling attention to its proposals as part of the Democratic Party’s campaign to defeat former President Donald Trump in his bid to retake the White House.
For those somewhere in the middle, Project 2025 may be simply too long to read — roughly 900 pages — so here’s the gist: The controversial document was created by the Heritage Foundation, an influential conservative think tank. More than 400 like-minded contributors penned the project as a blueprint for the next Republican presidency and published it in April 2023. It’s hefty wish list and, like all proposals, isn’t guaranteed even if Republicans retake the White House in the upcoming election.
Among its many proposals, it calls for dismantling or reshaping numerous federal agencies, rolling back policies designed to mitigate climate change, investing more power in the presidency, replacing government employees with political appointees, outlawing the abortion pill and gutting LGBTQ+ protections.
What is Project 2025 about?
There are four pillars in Project 2025:
Policy: The hefty agenda, known as “Mandate for Leadership: The Conservative Promise.”
Personnel: The creation of a database of vetted and trained personnel to be considered for positions in a presidential administration in order to implement the project’s policy recommendations.
Training: An online training program known as the “Presidential administration academy” to prepare future political appointees to work on day one of the next Republican presidency.
Playbook: A plan for the first 180 days of the next Republican presidency.
What economic proposals are in Project 2025?
Most of Project 2025 would have economic implications if implemented and many proposals would affect Americans on a personal finance level. While this is not an exhaustive list, here are some key proposals:
Broad tax cuts to corporate and income taxes.
Eliminate or reshape the Federal Reserve. One proposal within Project 2025 suggests eliminating the Fed and replacing it with “free banking.” Other proposals seek to diminish the Federal Reserve’s powers in other ways.
Increase energy production and energy security largely by expanding oil and natural gas production.
Overhauls to Medicare and Medicaid. Converting the current funding for Medicaid into a block grant program in which each state receives a fixed amount as opposed to funding specific needs; instituting time limits or lifetime caps on benefits; and adding a work requirement. Medicare Advantage, administered by private insurers, would become the default choice for new Medicare enrollees.
Weaken child labor protections. It would permit teens to work in “inherently dangerous jobs” as long as they have training and parental consent.
Change overtime laws. Allow employees to choose between receiving time-and-a-half pay or accumulating time-and-a-half paid time off. It also calls for requiring time-and-a-half payment for hours worked on “the Sabbath,” or Sunday.
Reform additional labor laws. Exempt small-business owners from “first-time, non-willful” violations of certain health and safety precautions that are enforced by the Occupational Health and Safety Administration. It would also make cuts to retirement benefits for federal workers. And it would allow state and local governments to get waivers from federal labor laws.
Unionization limits. Consider banning public employee unions and more union transparency in the private sector.
Unemployment limits. Make it more difficult to receive unemployment benefits.
Get rid of the Consumer Financial Protection Bureau.
Potentially eliminate the Federal Trade Commission and increase standards for antitrust violation suits.
Child care. Incentivize on-site child care.
Decrease government spending.
Consider returning to a gold-backed currency.
Abortion. Removing mifepristone, the abortion pill, from the market, including banning distribution by mail. It emphasizes that Congress must “enact the most robust protections for the unborn” and other pro-life policy measures. It also calls for more federal and state support for adoptions.
Big Pharma. Reform Food and Drug Administration rules to ban pharmaceutical companies from purposely preventing generic versions of their drugs from entering the market.
Overhaul government employment. Fire certain government employees who are not “ideologically aligned” with the “majority of the American People” and replace them with political appointees.
Sweeping immigration changes. Increasing funding for a U.S.-Mexico border wall; altering how agencies address immigration; restricting visa access; instituting additional immigrant worker limitations; and dismantling the Department of Homeland Security.
Higher education. Promote trade schools, apprenticeship programs and alternatives to student loans “that fund students’ dreams instead of Marxist academics.”
Contradicting tariff proposals: Boosting free trade and fair trade.
What else is in the Project 2025 playbook?
The Project 2025 playbook, again, is lengthy — too long to include every proposal here. But some other significant policy changes the document calls for include:
Expanding the power of the president to have complete control over the entire federal bureaucracy.
Getting rid of many existing climate-related protection policies.
Eliminating the Department of Education, as well as expanding both school choice and parental control in education. It would also end diversity, equity and inclusion (DEI) programs from governmental and public entities, including schools.
Changing terms used in schools and regulations. Eliminating “critical race theory” and “gender ideology” from school curriculum. It also would rid many terms from law and federal regulations such as “sexual orientation” and “reproductive rights”.
Overhauling federal agencies including the FBI and the Department of Justice; dismantling the National Oceanic and Atmospheric Administration; consolidating the Bureau of Economic Analysis with the Census Bureau and the Department of Labor’s Bureau of Labor Statistics; privatizing the Transportation Security Administration.
A ban on pornography and closing telecommunications and tech firms that help to spread it.
What has Trump said about Project 2025?
Trump, who is now running against Vice President Kamala Harris after President Joe Biden bowed out of the race, has tried to distance himself from the controversial policy plans. In a July 5 post on Truth Social, the conservative social media platform launched by Trump in 2022, the former president said, “I know nothing about Project 2025. I have no idea who is behind it. I disagree with some of the things they’re saying and some of the things they’re saying are absolutely ridiculous and abysmal. Anything they do, I wish them luck, but I have nothing to do with them.”
Multiple outlets have pointed out that many former officials and advisors under the Trump administration are involved with Project 2025. The director of the project is Paul Dans and the associate director is Spencer Chretien, both of whom were officials under the Trump administration. CNN estimates about 140 people involved with the Trump Administration contributed to the playbook.
What has Harris said about Project 2025?
One of the first things Harris said after receiving Biden’s endorsement pointed to Project 2025. On July 21, she posted on X: “I will do everything in my power to unite the Democratic Party — and unite our nation— to defeat Donald Trump and his extreme Project 2025 agenda.”
Before Biden exited the race, he condemned Project 2025. During a rally in Detroit on July 12, Biden called it “the biggest attack on our system of government and our personal freedom that has ever been proposed in the history of this country.” He also accused Trump of lying about his relationship to the project saying, “It was a project built for Trump.”
Biden said, “We’ve never seen anything like this. And it’s not a joke. It’s time for us to stop treating politics like entertainment and reality TV.”
On June 11, a group of Democrats launched a Stop Project 2025 Task Force. In a press release, U.S. Rep. Ted Lieu, a Democrat from California, called Project 2025 “a radical, extreme, pro-authoritarianism plan pushed by conservatives who are desperate to take our country backwards.”
(Photo by Michael M. Santiago/Getty Images News via Getty Images.)
San Jose, often referred to as “The Capital of Silicon Valley,” is a place of boundless innovation and opportunity. With its booming tech industry, diverse neighborhoods, and a cultural scene that rivals any other city in the region, it’s no wonder that many people dream of calling San Jose their home. However, life in this tech hub comes with its own set of challenges. So whether you’re searching for a sleek apartment in downtown San Jose or a cozy apartment in Willow Glen, you’ve come to the right place.
In this ApartmentGuide article, we’ll explore the various pros and cons of living in San Jose, helping you decide if the heart of Silicon Valley is the right place for you.
Fast facts about living in San Jose
Population: Approximately 1 million residents
Average rent: $2,799 per month for a one-bedroom apartment
Median home sale price: $1.4 million
Public transit: Valley Transportation Authority (VTA) provides bus and light rail services
Public parks: Over 200 parks and recreational areas
Annual tourists: Approximately 10 million visitors each year
Restaurants: Over 2,500, offering a variety of cuisines from around the world
1. Pro: Strong job market
San Jose is at the center of Silicon Valley, home to numerous tech giants and innovative startups. The city offers abundant job opportunities in the technology sector, attracting talent from all over the world. The presence of these companies, along with a growing number of startups, contributes to a robust job market and economic stability. Additionally, the city’s focus on technology and innovation supports a wide range of jobs in engineering, software development, and research and development.
Top employers in San Jose
Apple
Google
Adobe
Cisco Systems
eBay
2. Con: High cost of living
The cost of living in San Jose is about 76% higher than the national average. Housing costs are particularly significant, with the median sale price for a home in San Jose around $1,475,000 and the average rent for a one-bedroom apartment in San Jose about $2,799 per month, making housing 225% higher than the national average. Additionally, utilities are 37% more expensive, groceries are 14% higher, transportation costs are 35% above average, and healthcare costs are 22% more. While San Jose offers a high quality of life, residents need to budget carefully to manage these elevated expenses effectively.
3. Pro: Excellent education
San Jose is home to several prestigious educational institutions, including San Jose State University and numerous highly-rated public and private schools. The presence of these institutions enhances the city’s academic atmosphere and provides residents with access to quality education. Additionally, the proximity to other renowned universities like Stanford and UC Berkeley offers further educational opportunities and resources for students and professionals in the area.
4. Con: Traffic congestion
As a bustling metropolitan area, San Jose experiences significant traffic congestion, particularly during peak hours. The city’s rapid growth and high population density contribute to busy roads, making commuting by car a challenge. While the Valley Transportation Authority (VTA) provides public transportation options, many residents still find commuting to be time-consuming and stressful.
5. Pro: Outdoor recreational activities
San Jose offers a wide range of outdoor recreational activities, thanks to its proximity to the Santa Cruz Mountains and numerous parks and trails. Residents can enjoy hiking, biking, and exploring nature reserves. The city’s mild climate also makes it possible to enjoy outdoor activities year-round.
Popular outdoor spots in San Jose
Alum Rock Park
Guadalupe River Park
Los Gatos Creek Trail
Santa Teresa County Park
Almaden Quicksilver County Park
6. Pro: Cultural diversity
San Jose is a melting pot of cultures, with a diverse population that enriches the city’s cultural fabric. This diversity is reflected in the variety of cultural festivals, events, and cuisines available throughout the city. Residents can enjoy a wide range of cultural experiences, from the Lunar New Year celebrations to the Mexican Heritage Plaza events. Additionally, neighborhoods like Japantown offer unique cultural experiences and historic insights, while the city’s various ethnic markets and restaurants provide a taste of global flavors right at your doorstep. This cultural richness makes San Jose a vibrant and inclusive place to live.
7. Con: Competitive housing market
San Jose’s housing market is highly competitive, with a limited supply of homes driving up prices. This can make it challenging for prospective homeowners and renters to find affordable housing options within the city. The demand for housing often outstrips supply, leading to bidding wars and rapid price increases. In some neighborhoods, homes can sell for well above the asking price, often within days of being listed. Renters face similar challenges, with high demand pushing rental prices upward. This competitive market requires buyers and renters to be prepared to act quickly and often to stretch their budgets to secure housing.
8. Pro: Thriving arts and entertainment scene
San Jose offers a vibrant arts and entertainment scene, with numerous museums, theaters, and music venues. The San Jose Museum of Art, the Tech Interactive, and the SAP Center are just a few examples of the city’s cultural treasures. San Jose also hosts a variety of cultural festivals and events throughout the year, such as the Cinequest Film Festival and Music in the Park. The city is home to the San Jose Repertory Theatre and the Symphony Silicon Valley, offering residents a rich array of performing arts. Additionally, local galleries, independent theaters, and live music venues contribute to a dynamic and diverse cultural landscape that provides ample opportunities for residents to enjoy and engage with the arts.
9. Con: Earthquake risk
San Jose is located in an area prone to earthquakes due to its proximity to several major fault lines, including the San Andreas Fault. While modern buildings are designed to withstand seismic activity, the risk of earthquakes is a concern for residents. It’s essential for those living in San Jose to be prepared for potential earthquakes and to take necessary precautions.
10. Pro: Green spaces
Despite its urban nature, San Jose offers numerous green spaces where residents can escape. The city’s extensive park system provides residents with ample opportunities for relaxation, recreation, and outdoor activities. These green spaces serve as a much-needed respite from the city’s fast pace.
Popular parks in San Jose
Kelley Park
Overfelt Gardens
Plaza de Cesar Chavez
Japanese Friendship Garden
Emma Prusch Farm Park
11. Con: Limited nightlife
While San Jose offers a variety of dining and entertainment options, its nightlife scene is not as vibrant as larger cities like San Francisco or Los Angeles. The city has a more laid-back atmosphere, with fewer late-night venues and entertainment options. Residents seeking a bustling nightlife might find the options limited, though there are still plenty of local bars, breweries, and restaurants to enjoy.
12. Pro: Iconic landmarks
Living in San Jose means having iconic landmarks that contribute to the city’s unique character and charm right at your doorstep. These sites are great for sightseeing, offering educational and recreational opportunities for residents and visitors alike. From historic sites to modern attractions, these landmarks reflect the rich history and vibrant culture of San Jose, making it a fascinating place to live.
Until recently, the upfront price of a cruise was often hardly reflective of the final price. That’s because hidden fees, such as port fees and taxes, on cruise lines lurked like unwelcome stowaways. However, a California junk fee law banishing these surprise charges went into effect July 1, and it’s changing how people nationwide see cruise fares displayed.
Under California Senate Bill 478, companies can no longer advertise one low cost for a product or service sold in California — only to impose additional or mandatory fees later. That’s impacted all sorts of aspects of travel, from resort fees to vacation rental cleaning fees to, yes, cruise fees.
“It’s much easier now to find a good deal on a cruise, rather than a deal that looks good until all the port charges and fees are added,” Aaron Saunders, an editor at Cruise Critic, said in an email.
Though the law is specific to California, many major cruise operators have recently adopted transparent pricing models that all U.S. shoppers can see. For example, as of July 1, Royal Caribbean, Carnival Cruise Line and Holland America began including all mandatory taxes, fees and port expenses in their U.S. price displays.
Why cruise prices have a new look nationwide
There are a couple of reasons why California’s law has impacted U.S. cruise purchases, no matter where they’re sailing.
Pressure to be more transparent
Politicians, travel industry groups and consumers have called for more price transparency for years. President Joe Biden is even leading the charge on a federal crackdown on junk fees.
Many travelers prefer transparent pricing, too. In response to a proposed Federal Trade Commission rule that would prohibit junk fees, over 12,000 people submitted public comments, dozens of which specifically referenced cruises. Multiple people shared examples where final cruise prices ended up being double the advertised amount.
Consistency can be more practical
The other possible reason the California law has had an impact on national cruise operations is practicality.
“Treating California differently than the rest of the United States could have created confusion and introduced unnecessary complexity,” according to an FAQ issued by Royal Caribbean Group on changes to advertised pricing.
Plus, consistency makes it easier for consumers to compare prices, no matter where they’re buying from.
“This way, whether you’re checking fares in California, or your friend is checking fares in Florida, you’ll both see consistent pricing across the board,” Saunders said.
Cruises aren’t actually more expensive than before
Cruises that switched to transparent pricing models may now appear more expensive at the outset than they used to be, but the final cost remains the same. Saunders said that so far, he hasn’t seen any cruises change prices.
Instead, the change is that travelers can now see the total cost upfront. This could reduce potential frustrations around hidden fees.
It could also allow cruisers to make more informed decisions when comparing cruise lines. In the past, one cruise line might choose to display these fees upfront while another might not, making it hard for shoppers to compare total costs.
Cruise fees aren’t gone completely
Transparent pricing or not, knowing exactly what’s included in your cruise before booking is important.
While most U.S. cruise lines now disclose mandatory fees, many still charge for certain nonessentials, such as specialty restaurants, entertainment, alcohol or Wi-Fi. And some of these a la carte charges are subject to dynamic pricing as well, meaning they might get more expensive if you wait to add them to your reservation.
It’s more common to see this pricing model across cruises that offer cheaper upfront fares. In contrast, upscale cruise providers tend to have the fewest extra fees.
But a la carte pricing isn’t necessarily a bad thing. If you’re seeking an alcohol-free vacation, or you enjoy the pause of notifications that comes with sailing through a cell service desert, then a cruise that charges extra for specialty drinks or Wi-Fi might be appealing. That way you’re not subsidizing services you won’t use.
Best travel cards for booking cruises
Chase Sapphire Preferred® Card
on Chase’s website
Capital One Venture Rewards Credit Card
Bank of America® Premium Rewards® credit card
on Bank of America’s website
The Platinum Card® from American Express
Annual fee
Welcome offer
Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $750 when you redeem through Chase Travel℠.
Enjoy $250 to use on Capital One Travel in your first cardholder year, plus earn 75,000 bonus miles once you spend $4,000 on purchases within the first 3 months from account opening – that’s equal to $1,000 in travel.
Receive 60,000 online bonus points – a $600 value – after you make at least $4,000 in purchases in the first 90 days of account opening.
Earn 80,000 Membership Rewards® Points after you spend $8,000 on eligible purchases on your new Card in your first 6 months of Card Membership. Terms Apply.
Cruise benefits
• Get 25% more value out of your points when you book cruises through Chase.
• Redeem miles as a statement credit to cover spending on cruises.
• Earn 2x points on travel spending, including cruises and some ship excursions.
• Book with your card to get trip delay reimbursement, trip cancellation coverage and other travel assistance services.
• Cruise program benefits include $300 credit redeemable toward dining and spa services plus amenities like wine, chocolates and champagne. Terms apply.
Still not sure?
To view rates and fees of The Platinum Card® from American Express, see this page.
Many small businesses provide goods or services to their customers and issue invoices for payment. These invoices usually have payment terms that specify when the customer should pay, such as 30 days. However, waiting for customers to pay can create a cash flow gap for the business. They may need funds to cover immediate expenses like payroll, purchasing inventory, or paying suppliers.
One solution is invoice financing. With this alternative type of business financing, a company is able to use its unpaid invoices as collateral to obtain a loan or line of credit from a financial institution, such as a bank or a specialized lender. This allows the business to improve its cash flow while waiting for customers to make outstanding payments.
But before you sign on the dotted line, it’s essential to carefully consider the costs and terms associated with invoice financing to ensure it’s the right financial solution for your needs. Here’s a closer look at how invoice financing works, its pros and cons, plus other financing options you may want to consider.
What Is Invoice Financing?
Invoicing financing is a type of short-term small business financing where companies leverage their unpaid invoices to access immediate cash. Instead of waiting for customers to settle their bills, the business uses these outstanding invoices as security to obtain a loan or credit line. Essentially, it’s like getting an advance on money owed by customers, which can help businesses address short-term cash flow needs without having to wait for payment.
While it’s not designed for all types of businesses, invoice financing (also sometimes referred to as accounts receivable financing) can help many companies with longer billing cycles.
How Does Invoice Financing Work?
Invoice financing primarily benefits B2B companies rather than B2C companies, which generally rely on individual customers who buy products through a point-of-sale system. Instead, it’s designed to let companies borrow against outstanding invoices for customer orders.
To qualify for invoice financing, you generally need to have accounts receivable from creditworthy customers that have a history of paying invoices on time. While the lender may also look at your company’s credit and financials, they usually aren’t their main concern. A personal guarantee isn’t usually required, but check the terms of your loan just to make sure.
Some lenders allow you to finance 100% of the invoice amount, while others limit you to borrowing up to a certain percentage of your outstanding invoices. When your customer pays the invoice, you’ll pay the lender back the amount loaned plus fees and interest.
The fee structure varies depending on your loan agreement, but typically invoice financing companies charge a flat percentage (1% to 5%) of the invoice value. This percentage may be charged for every week or every month it takes your customer to pay. So if your customers are slow to pay, costs can escalate; if they default, you may end up having to cover their invoices.
You may also encounter other kinds of fees with invoice financing, depending on the lender. There may be new account and renewal fees, a minimum volume fee, and/or an early termination fee if you decide to stop using the service. It’s always a good idea to check out the full cost of financing before you sign a contract.
Example of How Invoice Financing Works
Let’s say you decide to finance a $50,000 invoice with 30-day terms. You submit this invoice to a lender as collateral. The invoice financing company approves the invoice and provides you with a cash advance of 90% of the invoice ($45,000). The lender charges a 3% fee for each month the invoice is outstanding. Your customer pays the $50,000 invoice in three weeks, so your total fee for the advance is $1,350. Once you receive the customer’s payment, you repay the lender the money you borrowed plus fees ($46,350) and keep $3,650.
Recommended: Business Cash Management, Explained
Invoice Financing vs Invoice Factoring
Invoice financing and invoice factoring are terms that are easy to confuse. While you might even see them used interchangeably, they aren’t the same thing.
Invoice factoring, also known as accounts receivable factoring, differs from invoice financing both in terms of structure and repayment process. With invoice factoring, you sell your outstanding invoices to a factoring company at a discount. The company gives you a percentage of the invoice amount up front and then assumes responsibility for collecting the full amount from your customer. Once the customer pays the invoice to the factoring company, you receive the remaining balance minus a factoring fee that is withheld by the factoring company.
If you opt for invoice factoring vs. invoice financing, your customers will likely know that you’ve outsourced this part of your business. Some businesses may prefer to keep the collection process in-house to maintain their customer relationships.
Both invoice financing and invoice factoring involve ongoing fees. Typically, the longer each invoice goes unpaid, the more you’ll be charged. That adds some uncertainty to how much you’ll actually owe.
Recommended: What Is a Business Liability?
Pros and Cons of Invoice Financing
Invoice financing can potentially help your business in a number of ways, but it also has its drawbacks.
Pros of Invoice Financing
Here’s a look at some of the advantages of using invoice financing.
• Improved cash flow: Invoice financing provides quick access to cash, which can help businesses cover day-to-day expenses, invest in growth, or handle unexpected costs.
• No debt: Invoice financing is not a loan, so it doesn’t add debt to your balance sheet. It’s a way to unlock the value of your invoices without taking on long-term debt.
• Flexible: You can use invoice financing as needed, depending on your cash flow situation. There’s no requirement to finance every invoice or maintain a minimum level of financing.
• Accessible: Invoice financing is often easier to qualify for than traditional loans since it’s primarily based on the value of your invoices and the creditworthiness of your customers.
Cons of Invoice Financing
There are, of course, some downsides to consider as well.
• Cost: Invoice financing can be more expensive than traditional loans or lines of credit. You’ll typically pay a fee plus interest on the advanced amount.
• Dependence on customers: Since invoice financing relies on your customers paying their invoices, you’re somewhat dependent on their payment behavior. If they pay late or default, it can affect your financing costs.
• Not suitable for all businesses: Invoice financing works best for businesses that have a steady stream of invoices from creditworthy customers. If your business doesn’t meet these criteria, you may not be able to use invoice financing.
• Potential for confusion with customers: If you opt for invoice factoring, some customers may be confused or concerned if they receive payment requests from a financing company instead of directly from you.
Is Invoice Financing a Good Idea?
Invoice financing can be a useful financial tool in some cases.
If your company has seasonal fluctuations, a lengthy billing cycle, or inconsistent revenues, but also has clients who reliably pay their invoices in a timely way, invoice financing may be a good way to keep a regular cash flow through the highs and lows.
If your business has less reliable clients, using funding like this could end up costing you in the long run.
Recommended: What You Should Know About Short-Term Business Loans
Alternatives to Invoice Financing
Invoice financing is far from the only type of financing out there. Here are a few other small business loan options to consider before you make a decision.
Inventory Financing
Inventory financing is short term, asset-based financing that’s used exclusively to buy the inventory or products your business sells. The loan (or credit line) is secured by the inventory or products that you’re purchasing. That means you don’t have to offer the lender any personal collateral. But if you default on the loan, the lender can repossess the inventory you purchased as payment.
Some lenders may finance 100% of the inventory value, but more typically a lender will offer somewhere between 50% and 80% of the inventory’s value.
Inventory financing can be useful before a busy season or when you experience sudden demand for your product. But like invoice financing, inventory financing typically comes with higher costs than a regular business loan. You’ll likely also need to demonstrate a high inventory turnover rate to qualify for higher loan amounts.
Merchant Cash Advance
A merchant cash advance can be better suited to businesses with B2C sales. You borrow a lump sum and then the lender automatically deducts a portion of your credit and debit card sales until the loan (plus accrued fees) is repaid.
As with invoice factoring, a factor rate is used with a merchant cash advance instead of an interest rate. Another similarity is that your sales history, rather than your credit history, is typically the most important factor in qualifying for a merchant cash advance. Generally, approval also happens pretty quickly, allowing you to get fast access to funding. Just keep in mind that the cost of borrowing is typically higher than other types of business financing.
Recommended: Recommended: Guide to Merchant Bank Accounts
Traditional Business Line of Credit
A business line of credit is a flexible type of financing that allows a small business to borrow money up to a predetermined limit and will only charge interest on the amount of money borrowed (similar to the way a credit card works). Unlike a term loan, where you receive a lump sum of money upfront, a business line of credit allows you to borrow only the amount you need, when you need it. This can be useful for managing cash flow or covering unexpected expenses.
Business lines of credit typically have variable interest rates and can be either secured or unsecured, depending on the lender and the borrower’s creditworthiness.
Traditional Term Business Loan
Term loans provide a lump sum of money that is repaid over a fixed term, typically with a fixed interest rate (which is often lower than other types of small business financing). The funds can be used for a variety of purposes, including working capital, equipment purchases, and expansion.
This is a common type of business loan offered by banks, credit unions, and online lenders. Newer businesses typically have a better chance of approval through online lenders because they typically offer more flexible qualification requirements. However, interest rates tend to be higher.
Your business’s history, annual revenue, and creditworthiness (including your personal credit) typically determine which loan terms you’ll have access to and how much you can borrow.
Recommended: A Guide to Trade Credit in Business
The Takeaway
Cash flow can be an issue for many small businesses. If your business is a good candidate for invoice financing and you need cash quickly, this type of funding may be able to help tide you over. Just keep in mind that costs can run higher than traditional banks loans and lines of credit.
If you’re seeking financing for your business, SoFi can help. On SoFi’s marketplace, you can shop top providers today to access the capital you need. Find a personalized business financing option today in minutes.
With SoFi’s marketplace, it’s fast and easy to search for your small business financing options.
Photo credit: iStock/pixdeluxe
SoFi’s marketplace is owned and operated by SoFi Lending Corp. See SoFi Lending Corp. licensing information below. Advertising Disclosures: SoFi receives compensation in the event you obtain a loan through SoFi’s marketplace. This affects whether a product or service is featured on this site and could affect the order of presentation. SoFi does not include all products and services in the market. All rates, terms, and conditions vary by provider.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
Denver, often referred to as “The Mile High City,” is a place of endless opportunities. With its stunning mountain views, vibrant neighborhoods, and a cultural scene that rivals any other city in the West, it’s no wonder that many people dream of calling Denver their home. However, life in this dynamic metropolis comes with its own set of challenges. So whether you’re searching for a trendy apartment in LoDo or a cozy apartment in Capitol Hill, you’ve come to the right place.
In this ApartmentGuide article, we’ll explore the various pros and cons of living in Denver, helping you decide if The Mile High City is the right place for you.
Fast facts about living in Denver
Population: Approximately 715,000 residents
Average rent: $2,095 per month for a one-bedroom apartment
Median home sale price: $618,000
Public transit: Regional Transportation District (RTD) provides extensive bus and rail services
Public parks: Over 200 parks and green spaces
Annual tourists: Approximately 17 million visitors each year
Restaurants: Over 2,000, offering a variety of cuisines from around the world
1. Pro: Outdoor recreational activities
Denver is a paradise for outdoor enthusiasts. The city’s proximity to the Rocky Mountains provides easy access to world-class skiing, hiking, mountain biking, and rock climbing. In addition to mountain adventures, residents can enjoy numerous city parks, trails, and outdoor festivals year-round. Denver’s mild, sunny climate makes it possible to enjoy outdoor activities in all seasons, from summer concerts at Red Rocks Amphitheatre to winter skiing trips in nearby resorts.
Popular outdoor spots in Denver
City Park
Washington Park
Red Rocks Park and Amphitheatre
Cherry Creek State Park
Sloan’s Lake Park
2. Con: High cost of living
The cost of living in Denver is about 10% higher than the national average. Housing costs are particularly significant, with the median sale price for a home in Denver around $618,000 and the average rent for a one-bedroom apartment in Denver about $2,095 per month, making housing 30% more expensive than the national average. Additionally, utilities are 14% less expensive, while groceries are 4% higher, transportation costs are 2% above average, and healthcare costs are the same as the national average. While Denver offers a high quality of life, residents need to budget carefully to manage these expenses effectively.
3. Pro: Strong job market
Denver has a robust and diverse job market, particularly in the technology, healthcare, and energy sectors. The city’s economy is supported by a mix of major corporations, startups, and small businesses. Denver’s tech industry has seen significant growth, attracting companies and talent from all over the country. Additionally, the healthcare sector is thriving with numerous hospitals and medical facilities, while the energy sector remains a critical component of the local economy, with both traditional and renewable energy companies contributing to job creation.
Top employers in Denver
Lockheed Martin
HealthONE
University of Colorado
Dish Network
Ball Corporation
4. Con: Traffic congestion
As Denver continues to grow, traffic congestion has become a notable downside. The increasing population and economic activity lead to busy roads, especially during peak hours. While the city has made efforts to improve infrastructure and expand public transportation options, many residents still find commuting to be time-consuming and stressful.
5. Pro: Cultural scene
Denver boasts a vibrant cultural scene with numerous museums, theaters, and music venues. The Denver Art Museum, the Museum of Contemporary Art, and the Denver Performing Arts Complex are just a few examples of the city’s cultural treasures. Denver’s cultural landscape is enriched by a variety of events and festivals throughout the year. The Great American Beer Festival celebrates the city’s brewing heritage and draws beer enthusiasts from around the world, while the Cherry Creek Arts Festival showcases the work of local and national artists. Additionally, the city is home to the Colorado Symphony, the Denver Center for the Performing Arts, and a thriving local music scene that includes everything from indie bands to world-class orchestras.
6. Con: High altitude adjustment
Living at a high altitude, with Denver sitting at over 5,280 feet above sea level, can be challenging for some people. The thinner air can cause altitude sickness, particularly for newcomers who are not acclimated. Symptoms can include headaches, dizziness, and shortness of breath. While most people adjust over time, the high altitude can also affect cooking times and performance in physical activities.
7. Pro: Iconic landmarks
Living in Denver means having iconic landmarks that contribute to the city’s unique character and charm right at your doorstep. These sites are great for sightseeing, offering educational and recreational opportunities for residents and visitors alike. From historic sites to modern attractions, these landmarks reflect the rich history and vibrant culture of Denver, making it a fascinating place to live.
Iconic landmarks in Denver
Red Rocks Amphitheatre
Denver Union Station
Coors Field
Denver Botanic Gardens
Molly Brown House Museum
8. Con: Competitive housing market
Denver’s housing market is highly competitive, with a limited supply of homes driving up prices. This can make it challenging for prospective homeowners and renters to find affordable housing options within the city. The demand for housing often outstrips supply, leading to bidding wars and rapid price increases. The intense competition in the housing market is exacerbated by Denver’s popularity and steady population growth, making it crucial for buyers and renters to act quickly and often be prepared to offer above the asking price.
9. Pro: Diverse culinary scene
Denver features a diverse culinary scene, with a wide range of restaurants offering cuisines from around the world. From high-end dining establishments and trendy food halls to food trucks and ethnic eateries, the city has something to satisfy every palate. Food festivals, such as the Denver Food and Wine Festival and the Taste of Colorado, showcase the city’s culinary creativity and provide opportunities for residents to explore new flavors.
Popular restaurants in Denver
Mercantile Dining & Provision
Acorn
Root Down
El Five
The Source
10. Con: Winter weather
Denver’s winters can be harsh, with cold temperatures and significant snowfall. The city experiences an average of 57 inches of snow per year, which can disrupt daily life and make commuting challenging. Residents need to be prepared for winter weather and take necessary precautions to stay safe and warm during the colder months.
11. Con: Limited public transportation
While Denver has made efforts to improve its public transportation system, it still lags behind other major cities. The Regional Transportation District (RTD) provides bus and light rail services, but the routes and schedules may not be convenient for all residents. The city has a transit score of 45, a walk score of 61, and a bike score of 72. This means that most daily errands require a car, which can be inconvenient for those who prefer not to drive or do not own a vehicle.
If you work hard amassing miles and points, it’s worthwhile to know that while some credit card rewards die with you, there are issuers who allow redemptions or transfers after death.
Here’s a closer look at what happens to credit card rewards when you die, as well as what steps you can take to avoid forfeiting your rewards.
What Are Credit Card Rewards?
Credit card rewards are a type of currency that can come in the form of credit card points, miles, or cash back rewards. They’re designed to incentivize cardholders to make eligible purchases on their rewards credit card.
As you make purchases and earn various credit card rewards, you can choose to hold onto the rewards in your account until you have enough to redeem toward a high-value purpose. Each rewards program lets cardholders redeem rewards in different ways, depending on its rules. Common redemption options include statement credits, travel bookings and reservations, special experiences, merchandise, gift cards, and more.
Recommended: Tips for Using a Credit Card Responsibly
What Happens to Your Credit Card Rewards Upon Death?
Having a stockpile of credit card rewards after death might lead to a sticky situation for your surviving family. Akin to your credit card debt after death not passing on to your survivors in some states, some credit card rewards “die with you” and can’t be redeemed or transferred to your family or estate.
Conversely, some credit card issuers, like American Express, offer a limited period during which authorized trustees of your estate can redeem unused rewards. Certain programs that permit reward redemptions or transfers after death might require the outstanding account balance to be paid in full.
In other words, what happens to your credit card rewards after you pass on depends on the terms laid out in your rewards program agreement. Some rewards terms specifically state that rewards aren’t the property of the cardholder and can’t be transferred through inheritance.
Recommended: What Is the Average Credit Card Limit
What To Do With Credit Card Rewards if the Account Holder Dies
If you know that your deceased loved one amassed credit card points, miles, or cash back rewards, there are a few steps you can take to address it:
1. Check on accounts and rewards balances. If your deceased loved one gave you access to their account before their death, log in to get an overview of their remaining rewards balances across all accounts. If you don’t have access to their accounts, proceed to the next step.
2. Prepare paperwork. You’ll likely need to provide proof of the primary cardholder’s death, such as a copy of their death certificate. Additionally, you might need to provide the name and contact information of the authorized trustee, letter of testamentary, or other details.
3. Contact the card issuer. You must inform the card issuer in the event of a primary cardholder’s death. Supply the necessary documentation you’ve gathered, and inquire about your options to redeem the rewards.
Generally, credit card companies offer at least one of a few options, though how a credit card works will vary by issuer. The rewards might be forfeited if they’re non-transferable or expire upon the cardholder’s death. Some credit card terms automatically convert the rewards into a statement credit, while other issuers allow rewards redemption or transfers to another existing, active account.
Ways You Can Avoid Forfeiting Your Credit Card Rewards
You’re ultimately at the mercy of a reward program’s user agreement in terms of what to do with credit card rewards after death. However, planning ahead can help you avoid relinquishing earned rewards.
Not Hoarding Your Points
To avoid facing a scenario in which your credit card rewards die with you, make an effort to redeem credit card points or miles on a rolling basis.
For example, at the end of each year, use credit card rewards to travel for less money or apply them to your account as a statement credit. Keep in mind that different redemption options have varying valuations, so look into which redemption strategy makes sense for your situation.
Choosing Cards With Favorable Death Terms
Although a particular program might offer enticing rewards — such as the chance to enjoy credit card bonuses — it might not be advantageous if the program has strict terms regarding a cardholder’s death.
American Express, for instance, has relatively lenient terms when dealing with the rewards balances of a deceased cardholder.
Recommended: How to Avoid Interest On a Credit Card
Using a Reward-Tracking Tool
If you have multiple rewards credit cards in your rotation, using a reward tracking app can help you and your surviving family organize and track your rewards. Apps like AwardWallet and MaxRewards can let you easily see all of your rewards in one view.
Naming a Beneficiary in Your Will
Although it’s not a foolproof way to avoid forfeiting your credit card rewards, adding a beneficiary to your will is a smart move. This way, if your card issuer allows rewards transfers or redemptions by authorized individuals, your beneficiary is formally named on your estate documents as your desired recipient.
The Takeaway
Since there’s no way to know when an accident or unforeseen health issue will result in your death, it’s best to be prepared. If possible, redeem earned credit card rewards in a timely manner so you can enjoy them in life. Or consider such steps as naming a beneficiary in your will or racking up rewards on a card with lenient transfer policies.
Whether you’re looking to build credit, apply for a new credit card, or save money with the cards you have, it’s important to understand the options that are best for you. Learn more about credit cards by exploring this credit card guide.
FAQ
Can I transfer points from the account of a late family member?
Whether you’re allowed to transfer points from your deceased relative’s rewards credit card account depends on the card program’s rules. Some banks allow points transfers, while other programs state that points are non-transferable. Contact the card issuer’s customer support team to learn about its point transfer policy.
Can an authorized user use credit card rewards upon the death of the account owner?
It depends. Not all credit card rewards programs allow authorized users to use a primary cardholder’s earned rewards. Those that do might have restrictions on how and when rewards can be redeemed after a primary user’s death, if at all.
What happens to the miles when someone dies?
Miles earned by a deceased primary credit card rewards cardholder might be forfeited, transferred, or redeemed by the estate or surviving family, depending on the rewards program. Terms vary between card issuers, and even across travel rewards programs, so call the program’s support team to learn about its terms.
Can estates redeem points after death?
Some rewards credit cards allow estates to redeem points after the primary cardholder’s death. American Express, for example, allows estates to request points redemption by submitting a formal written request with documentation.
Photo credit: iStock/supatom
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.
Thinking of making the Tar Heel State your new home? North Carolina boasts stunning mountain ranges, beautiful beaches, and vibrant cities, making it a top destination for newcomers. Whether you’re browsing homes for sale in Raleigh, considering renting in Charlotte, or exploring houses for rent in Durham, here’s what you need to know before moving to North Carolina.
North Carolina at a glance
North Carolina stands out with its coastal charm and urban energy. From the serene shores of the Outer Banks to the lush greenery of the Great Smoky Mountains, the state has a diverse range of natural beauty and recreational opportunities. Its major cities like Raleigh, Charlotte, and Greensboro enhance its appeal, providing residents with easy access to world-class cultural events, dining, and job markets. North Carolina’s economy is robust, supported by thriving sectors such as biotechnology, finance, and information technology, with major corporations like Bank of America and Red Hat calling the state home.
The cultural landscape of North Carolina is equally rich, featuring historical landmarks like the Biltmore Estate and a diverse arts scene in towns such as Asheville and Chapel Hill. The state is known for its eclectic food culture, including renowned barbecue and distinctive regional specialties like Cheerwine and sweet tea. While the cost of living can be high in some areas, particularly near larger cities, more affordable places to live are available in towns like Jacksonville and Winston-Salem. Whether you’re drawn to its vibrant cities or tranquil countryside, North Carolina provides a multifaceted living experience.
1. North Carolina is divided into three distinct regions
The Coastal Plain, with its flat terrain and fertile soil, features charming beach towns like Wilmington and Morehead City, ideal for a coastal lifestyle. The Piedmont region, home to major cities such as Charlotte and Greensboro, provides urban amenities and suburban comfort. In contrast, the Appalachian Mountains in the west, with cities like Asheville and Boone, provide breathtaking mountain vistas, outdoor activities, and a cooler climate perfect for those who love nature.
2. The weather here is mild
North Carolina’s climate varies, but overall, it enjoys a mild and pleasant atmosphere. Coastal areas, such as Wilmington and Charleston, experience warm, humid summers with temperatures often reaching into the 80s and 90s (°F) and mild winters with temperatures rarely dropping below 40°F. The Piedmont region enjoys a balanced climate with summer temperatures in the 80s and 90s (°F) and cooler winters with temperatures averaging between 30°F and 50°F. In the mountain areas, temperatures drop significantly in winter, with averages often falling below 30°F and snowfall creating opportunities for skiing and snowboarding at resorts like Sugar Mountain and Beech Mountain.
Travel tip: Visit the Outer Banks in late spring or early fall to enjoy milder weather and fewer crowds while exploring the pristine beaches and historic lighthouses.
3. The Research Triangle is a major tech and research hub
The Research Triangle, consisting of Raleigh, Durham, and Chapel Hill, is a national leader in technology and research. This region hosts over 300 companies in tech, biotech, and pharmaceuticals, including global names like Cisco and GlaxoSmithKline. The presence of top universities like Duke and UNC-Chapel Hill fuels innovation and attracts talent from around the world, creating a dynamic and forward-thinking community.
4. North Carolina is known for its BBQ
The state’s barbecue culture is a source of pride and rivalry. Eastern North Carolina barbecue is celebrated for its vinegar-based sauce and whole-hog cooking, exemplified by legendary spots like the Skylight Inn. In contrast, the Western style, popular around Lexington, features a tomato-based sauce with a sweeter profile, with restaurants like Lexington Barbecue serving up hearty, flavorful dishes. Each region offers its own take on this Southern staple, making BBQ a true culinary adventure.
Insider scoop: Follow the North Carolina Barbecue Trail, a culinary road trip that guides you through the best barbecue joints across the state.
5. College basketball is big here
North Carolina’s passion for college basketball is unmatched. The fierce rivalry between the University of North Carolina Tar Heels and Duke Blue Devils generates a buzz that lasts all season. Games between these two teams are high-stakes events, drawing crowds and media attention from across the country. This basketball enthusiasm extends beyond just the college scene, with a deep-rooted culture of support and pride throughout the state.
6. North Carolina has some of the best craft beer in the nation
North Carolina’s craft beer scene is booming, with a multitude of breweries crafting diverse and innovative brews. Asheville, known as “Beer City USA,” has a concentration of breweries like Sierra Nevada and Wicked Weed, each offering unique and locally inspired beers. The state celebrates this thriving culture with events like the North Carolina Brewers and Music Festival, where you can sample a wide range of local brews while enjoying live music.
Insider scoop: Check out the Asheville Ale Trail, a self-guided tour that takes you through the city’s top breweries, featuring exclusive tastings and behind-the-scenes looks at how your favorite beers are made.
7. The cost of living is low here
The cost of living in North Carolina is notably lower than the national average, making it an attractive place to settle. Cities like Greensboro, offer affordable living, with median home sale prices around $295,000, significantly less than the national median of $442,479. In Charlotte, while slightly higher, the average rental rates for a two-bedroom apartment hover around $1,800 per month, which is quite reasonable compared to larger metropolitan areas like NYC or San Francisco. Additionally, towns such as Fayetteville provide even more budget-friendly options, ensuring that North Carolina caters to a variety of financial situations without compromising on quality of life.
If you’re planning to move to North Carolina, it’s important to weigh the pros and cons of living in the Tar Heel State to know what to expect.
8. You’ll need to prepare for hurricanes
North Carolina’s coastal regions are susceptible to hurricanes, with the hurricane season running from June to November. Residents should be prepared with an emergency kit, an evacuation plan, and a thorough understanding of local flood zones. Staying informed through local news and weather services during storm season is crucial to ensure safety and minimize risk during severe weather events.
9. The people are friendly
North Carolinians are renowned for their warmth and hospitality. Living in North Carolina, expect to be greeted with friendly smiles and a helpful attitude as you settle into your new community. Local customs include a strong sense of community and a welcoming spirit, making it easy to make new friendships and feel at home, whether you’re at a neighborhood BBQ or a local festival.
10. North Carolina is home to charming beach towns
North Carolina’s coastline is dotted with idyllic beach towns that offer a perfect mix of relaxation and adventure. The Outer Banks, renowned for its rugged beauty and historic lighthouses, includes attractions like the Roanoke Island Festival Park and the Cape Hatteras National Seashore. Here, you can explore unique maritime history and stunning natural landscapes. Further south, Wrightsville Beach offers wide sandy shores and a vibrant boardwalk perfect for water sports and seaside dining. These towns provide a blend of laid-back coastal living with distinct local charm, making them ideal for both unwinding and exploring.
Methodology
Population data sourced from the United States Census Bureau, while median home sale prices, average monthly rent, and data on affordable and largest cities are sourced from Redfin.
Looking to learn how to make money without a car? It might seem hard to make money without a car, but there are actually many ways to do it. You don’t need a vehicle to find opportunities that can earn you extra cash or even a full-time income. Whether you want to work from home…
Looking to learn how to make money without a car?
It might seem hard to make money without a car, but there are actually many ways to do it. You don’t need a vehicle to find opportunities that can earn you extra cash or even a full-time income.
Whether you want to work from home or find gigs in your neighborhood, there are plenty of options available to you.
Best Ways To Make Money Without a Car
Below are the best ways to make money without a car.
Here’s a quick summary of my favorites:
Best way to make money without a car by freelancing – Proofreading
Best way to make money without a car to work by yourself – Blogging
Best way to make money without a car for passive income – Selling printables
Best way to make money without a car for people who like numbers – Bookkeeping
1. Blogging
Blogging is a great way to make money without needing a car. You can write about topics you love and share your knowledge with others. All you need is a computer and an internet connection.
I started Making Sense of Cents in 2011, and I’ve made over $5,000,000 with my blog. I began my blog just to share my own money journey. At first, I didn’t even know people could make money from blogging or how to create a successful blog! I didn’t plan to make money with Making Sense of Cents, but after six months, I started earning from it.
And, it all started from home, where I didn’t need a car (and I still don’t need a car to do this job).
Starting a blog takes time and effort, but it can be very rewarding. Plus, you can do it all from the comfort of your home.
Learn more in my How To Start A Blog FREE Course. In this free course, I show you how to create a blog, from the technical side to earning your first income and getting pageviews.
2. Proofreader
Being a proofreader is a great way to make money without a car. You can do this from the comfort of your home. Many companies and individuals need proofreaders for their articles, books, and websites.
To start, you need a strong grasp of the English language (or whatever language you are proofreading in). Good attention to detail is also important. You don’t need a degree to become a proofreader, but it helps to know common style guides.
Proofreaders can make good money, and according to Salary.com, the average proofreader salary is $58,284 a year.
Proofreading is flexible. You can choose your own hours and work as much or as little as you want. This makes it a great side hustle or even a full-time job.
Learn more at 20 Best Online Proofreading Jobs For Beginners (Earn $40,000+ A Year).
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This free training teaches you how to start a proofreading side hustle (and how to earn $1,000+ per month!), even if you are brand new and don’t have any previous proofreading experience.
3. Sell printables on Etsy
Selling printables on Etsy is a great way to make money without needing a car. Printables are digital files like planners, calendars, art prints, and more.
Making printables on Etsy is a great idea because you only need to create one digital file per product. You can then sell that file as many times as you want.
Learn more at How I Make Money Selling Printables On Etsy.
Do you want to make money selling printables online? This free training will give you great ideas on what you can sell, how to get started, the costs, and how to make sales.
4. Dog walking
Dog walking is a fun way to make money without a car. You get to spend time with dogs and get some exercise too. Many people need help walking their dogs, especially if they have busy schedules.
There is a good chance that some of your neighbors within walking distance may need some help with their pets, and this is where you come in!
You can start by letting your neighbors know you are available. Put up flyers or post about your services in local online groups. Another great way to find clients is through dog walking apps like Rover and Wag that connect dog walkers with pet owners.
If you use an app like Rover, you can also offer pet sitting services. This can increase your earnings by taking care of pets overnight.
Dog walking usually pays between $15 and $25 per walk. If you walk several dogs in a day, it can add up quickly. For overnight stays, you might earn $25 to $70+ per day.
5. Freelance writing
Freelance writing is a great way to make money without a car. You can work from home or anywhere with an internet connection. All you need is a computer and some writing skills.
You can write blog posts, articles, or even social media content. Many companies need writers to create content for their websites and marketing materials.
Freelance writing lets you choose your own hours. You can work as much or as little as you want. This makes it a great option if you have other commitments like school or another job.
There are many websites where you can find freelance writing jobs. Examples include Upwork, Freelancer, and Fiverr. Some companies also hire writers directly through job postings on their websites.
I have been a freelance writer for years, and I think it’s a great way to earn income from home, without needing a car.
6. Virtual assistant
You can make good money by becoming a virtual assistant (VA). As a VA, you help clients with various tasks from your home.
Companies and busy professionals need help with things like managing emails and scheduling appointments. You can do this using just a computer and the internet.
Some VAs specialize in things like social media management. Others focus on tasks like data entry or customer service. You can choose what you want to do based on your strengths.
Working as a VA lets you set your own hours. You don’t need to commute anywhere since everything is done online, so this makes it perfect if you don’t have a car.
7. Online tutoring
Online tutoring is a great way to make money without needing a car. You can teach from the comfort of your own home and set your own schedule. There are many websites where you can sign up and start tutoring students in different subjects.
All you need is a computer and an internet connection. Tutor Me Education, for example, connects you with students looking for help in over 200 subjects. You create a profile, and students reach out to you.
If you enjoy teaching, this can be a fun and rewarding way to earn money. It’s also flexible, so you can work as much or as little as you want. This makes it easy to fit tutoring into your busy life.
Some tutoring platforms might require you to have some qualifications, but many are open to anyone with knowledge in a particular area. This means almost anyone can become a tutor and start making money.
8. Selling print-on-demand products
Selling print-on-demand products is a great way to make money without needing a car. You can create your own designs for T-shirts, mugs, and more. Once a customer orders, the product is made and shipped directly to them.
You don’t need to handle any physical inventory. This means you can work from home and all you need is an internet connection and some creative ideas.
Platforms like Etsy, Amazon, and Shopify make it easier to sell your print-on-demand products. They connect you to millions of potential buyers. You can also use services like Printify and Printful to help produce and ship your items.
Starting your own print-on-demand business involves little upfront cost. You only pay for the production of the item when a sale is made, so this reduces your financial risk significantly.
9. Graphic design
If you love art and design, graphic design can be a great way to make money. You don’t need a car for this job because you can do all your work from a computer at home.
Many businesses need logos, social media graphics, and other visual content.
You can find clients on platforms like Fiverr and Upwork, and you can start with small projects to build your portfolio. Once you have a few happy clients, you can charge more for your work.
10. Data entry
Data entry is a simple way to make money from home. You don’t need a car, and you can work in your pajamas (amazing, right?!).
Data entry workers type information into computer systems. Companies need people to enter data accurately and quickly, and this could be anything from names and addresses to inventory numbers.
These jobs can pay anywhere from $12 to $25+ per hour. The pay depends on the company and the complexity of the task.
Data entry is a flexible job. You can often set your own hours and work when it’s convenient for you.
While it may not be the most exciting job, it’s straightforward and doesn’t require a lot of training. This makes it a good option if you need to earn some extra cash.
11. Transcription services
Transcription work is a great way to earn money from home. You listen to audio files and type what you hear. Many companies hire beginners, so experience isn’t always necessary.
The pay varies, usually from $5 to $25 per audio hour.
Working as a transcriptionist can be flexible. You pick the hours you want to work, so this makes it easier to fit into your schedule.
Make sure you meet the typing speed requirements. Most companies look for accuracy and speed. Start practicing if you need to improve in these areas.
Learn more at 18 Best Online Transcription Jobs For Beginners To Make $2,000 Monthly.
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In this free training, you will learn what transcription is, why it’s a highly in-demand skill, who hires transcriptionists, how to become a transcriptionist, and more.
12. Dropshipping
Dropshipping is a great way to make money without a car. You don’t need to buy any stock up front. When a customer buys from your online store, you order the product from a supplier who ships it directly to them.
To start, find a popular product that people want. Use free tools like Google Trends to see what’s in demand. You could sell anything from phone accessories to pet supplies.
Dropshipping allows you to run a business from anywhere. All you need is a computer and internet. It’s perfect if you don’t have a car.
13. Affiliate marketing
Affiliate marketing is a great way to make money without a car. You can do it right from home or anywhere with an internet connection.
In affiliate marketing, you promote products or services for companies. When someone buys through your referral link, you earn a commission.
It does take time and effort to be successful. You’ll need to create content, like blog posts or social media posts, to share your affiliate links.
You could promote anything from clothes to electronics to digital products like ebooks or courses. Pick something you like and know about to make it easier.
For me, I have been doing affiliate marketing for years, and I think it’s a great way to make money at home without a car.
Learn more at Affiliate Marketing Tips For Bloggers – Free eBook.
14. Get roommates
Rent can be really expensive. If you want to save money or even make some extra, getting roommates can help.
When you share your place with others, you split the rent and utility bills. This makes living costs lower for everyone.
Finding roommates isn’t hard. You can ask friends or use sites like Facebook or Craigslist. Of course, you’ll want to make sure to choose people you get along with well.
15. Answer surveys
Answering surveys is an easy way to make some extra money without needing a car. Many market research companies want to know what you think about their products or services. They will pay you for your opinions in PayPal cash or free gift cards.
Each survey can take anywhere from a few minutes to half an hour. While you won’t become rich, it’s a simple and flexible way to make a small but steady income on the side. Even earning a few dollars here and there can add up.
The survey companies I recommend signing up for include:
American Consumer Opinion
Survey Junkie
Swagbucks
InboxDollars
Branded Surveys
Prime Opinion
Five Surveys
PrizeRebel
Pinecone Research
I have been answering surveys for years, and I have always liked how I can answer them at home without having to go anywhere. That makes it very easy!
16. Make money on YouTube
Starting a YouTube channel is a popular way to make money online, especially if you don’t have a car. You can record videos with your phone or camera, and you don’t need much else to get started.
You can make a YouTube channel about many different topics like money, home, travel, toys, pets, and more. There’s a YouTube channel for almost everything, and there’s still room for more!
In your YouTube videos, you can add links to products you recommend, earn money from ads that play during your videos, get paid by brands to show their products, and even sell your own items.
Recommended reading: How Much Do YouTubers Make?
17. Mow lawns in your neighborhood
Mowing lawns in your neighborhood can be a great way to make extra money without needing a car. Many people need help keeping their lawns neat, such as older adults or busy families.
To get started, you really only need basic lawn care equipment, like a mower and trimmer.
Next, spread the word about your lawn care services. Talk to your neighbors, put up flyers, or post on community boards online.
18. Deliver food on a bike
Not all food deliveries are by car – plenty can be done by bike, depending on where you live! Thanks to today’s gig economy, you have plenty of options depending on where you live.
If you live in a city, delivering food on a bike is a great way to make money part-time as a side gig or even full-time. You can work for companies like Uber Eats, Instacart (this is for grocery shopping delivery), or Postmates. These apps allow you to deliver by bike in many cities.
Biking means you don’t spend money on gas or car maintenance. Plus, it’s good exercise. You can even do food delivery by e-bike or scooter if you prefer.
Note: You do still have to do a background check, even though you won’t be driving and won’t have to use a driver’s license.
19. Babysit
Babysitting is a great way to make money if you don’t have a car. You can choose when you’re available, making it easy to fit around your schedule.
Lots of families need someone to watch their kids while they’re at work or out for the evening, such as your neighbors.
You can offer your help to neighbors, friends, and family members.
You might need to get CPR certified, but it’s worth it. Parents will feel better knowing their kids are in safe hands (plus, you’ll feel better too about watching someone else and feel more prepared).
20. Play game apps
You can make money by playing game apps on your phone. There are lots of apps out there that pay you to play games. Some popular choices include apps like Solitaire Cash and other game apps where you get paid for playing and watching ads.
These game apps can be fun and a good way to earn a little extra cash. You usually earn small amounts of money or rewards that you can cash out later. Still, it’s important to know that it’s not a way to get rich quickly.
Here’s a quick list of the top game apps that pay real cash:
KashKick
Swagbucks
InboxDollars
Freecash
21. Virtual bookkeeper
You can make money from home as a virtual bookkeeper. This job involves keeping track of finances for businesses.
All you need is a computer and internet access. You can work for one company or offer your services to multiple clients.
Before you skip this because you think you’re not qualified, you should know that you don’t need to be an accountant, have any previous experience, or even have a bachelor’s degree.
Virtual bookkeepers can earn a good hourly rate and often have the freedom to set their schedules. This can be a great option if you need flexibility in your work life.
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This free training will show you how to start a profitable bookkeeping side-hustle in the next 30 days—even if you have no prior experience!
22. Voice over acting
Voice-over acting is a fun way to make money from home. You use your voice to bring characters to life or narrate commercials and videos. It’s a great job if you’re good at reading aloud and can deliver lines clearly.
You don’t need a fancy setup to start. A decent microphone and free software can get you going. Many websites connect you with clients looking for voice talent.
You might work on video games, cartoons, audiobooks, or even ads. Each job can pay differently, so you can find ones that fit your schedule and skills.
Voice-over acting can be both fun and profitable. It’s a flexible way to make money without needing a car. Plus, you can do it all from the comfort of your home.
Learn more at How To Become A Voice Over Actor And Work From Anywhere.
23. Write book reviews
You can make extra money by writing book reviews from home. This is perfect if you love reading.
Authors and publishers appreciate your honest reviews because they help other readers decide what to read. These reviews are fun for readers and helpful for everyone.
Here are some websites where you can earn money by writing book reviews:
OnlineBookClub.org – They give you free books at first. After your first review, you can earn $5 to $60 per review.
Kirkus Media – They need reviewers for English and Spanish books. Reviews are about 350 words and due two weeks after you get the book.
The US Review of Books – They hire freelance writers for 250- to 300-word reviews that provide insights into the book. You need to submit a resume, writing samples, and references.
Reedsy Discovery – You can review books before they are published and earn tips from readers, usually $1 to $5 per review. This helps new books become more popular.
Learn more at 16 Best Ways To Get Paid To Read Books.
Frequently Asked Questions
You don’t need a car to make money. There are many ways to earn, whether from home, on foot, or on a bike. Here are some common questions and answers about how to make money without a car.
How can I make money if I don’t have a car?
You can make money by blogging, proofreading documents, or selling printables on Etsy. You can also offer services like dog walking. If you enjoy writing, freelance writing could be a good fit too. Many of these can be done from the comfort of your home or in your neighborhood within walking distance.
What kind of jobs can you do from home with no car or computer?
Without a computer, you can still find jobs like phone-based customer service or tutoring over the phone or by having your clients come to your home. Selling craft items or handmade goods can also be done from home. Some people even make money as virtual assistants using only their smartphones.
How can a college student make extra cash without having a vehicle?
Many college students don’t bring a car to college, and if that’s you, you may be wondering how you can make money. College students can babysit, tutor younger students, or work as a resident advisor at their college. Selling old textbooks and clothes can also bring in extra cash.
What are some delivery jobs with no car required?
For delivery jobs, you can use a bike or scooter. Platforms like DoorDash allow deliveries by bike in certain areas. Restaurants and local stores sometimes hire walkers or bikers to deliver goods too, but this is more common in big cities (like New York City or Chicago).
What to do with no money and no car?
If you have no money and no car, I recommend starting by looking for gigs that don’t require any investment, like babysitting or dog walking. Answering paid online surveys or signing up for cash back apps can also help you earn some spare cash. You can also offer to run errands or clean houses for neighbors for some quick cash, or even host a garage sale.
What to do if you need a job but have no transportation?
If you need a job but you have no transportation, then I recommend finding a work-from-home job like transcribing, virtual assisting, or data entry. If you want an in-person job but don’t have transportation, then you may need to look into your public transportation options, car sharing in your area, finding a shuttle service, using a rideshare app (like Uber or Lyft), or carpooling.
How To Make Money Without a Car – Summary
I hope you enjoyed this article on how to make money without a car.
There are many ways to make money without a car such as with online jobs like proofreading, blogging, selling printables, and bookkeeping. And, there are also ways to make money in person without a car, such as dog walking, tutoring, delivering food by bike, and mowing lawns.
What do you think is the best way to make money without a car?