Inside: You are wanting to work from home. Here are the best non phone work from home jobs. Exactly what you wanted to find.
Are you looking for a work from home job but don’t want to deal with people? You’re in luck!
There are plenty of non-phone jobs that allow you to work from the comfort of your own home.
This is becoming more and more popular because it allows you autonomous work without the influence of talking to others.
Plus we will cover the best non phone work from home jobs! There are many options available.
To help you get started, we’ve compiled a list of the 35 best non-phone jobs for you:
Can you work from home without talking on the phone?
Yes, you can work from home without talking on the phone.
More and more jobs are transitioning away from the use of a phone. So, there is no better time than to transition yourself.
Best non phone work from home jobs
Here is a comprehensive list of the best non phone work from home jobs.
You will find a variety of part-time, full-time, and contract opportunities in a wide range of fields. Also, the opportunity to become your own boss.
1. Stock Trader
Stock traders must have a good understanding of market trends, economic forces, and have the ability to make quick decisions based on their analysis.
The benefits of working as a stock trader include high pay, job security, and the potential to make a lot of money if the stock market is performing well.
Additionally, stock traders are able to work from home and have flexible hours, meaning that they can plan their working day around other commitments.
Personally, this is one way I make money is by trading stocks and options. Join the $1000 in a day club.
2. Video Editor
A video editor is someone who works with audio and visual content to create cohesive and engaging visuals for either commercial or creative purposes.
They use various software programs to manipulate video clips, sounds, and images in order to create a compelling story. The role of a video editor involves careful attention to detail and the ability to utilize a wide range of software and hardware.
The advantages of a job as a video editor include the potential to work from home and create a flexible schedule, as well as the potential to make great money, depending on the level of experience.
Additionally, it can be a great way to express creativity and further develop important skills.
On the other hand, one of the major disadvantages of working as a video editor is the high stress level that comes with the role.
Video editors are often under pressure to deliver projects under tight deadlines, which can lead to increased pressure and stress. Additionally, there is often a steep learning curve, as video editing requires a lot of technical knowledge and experience.
3. Proofreader
Proofreading is a non-phone work from home job that involves reading and carefully reviewing written documents for errors of spelling, grammar, syntax, and punctuation. It also involves making sure that the text makes sense and is consistent with the document’s purpose.
Proofreaders are expected to identify and correct errors as they appear in the text.
The pay for proofreaders is typically between $44k and $58k per year.
To make the job easier, I would take the Proofreading Anywhere course to understand what is expected of you.
4. Data Entry Jobs
Data entry clerks are often required to sort, organize, and verify the accuracy of data before entering it into the computer system.
Additionally, this type of job does not require any prior experience and can be learned quickly.
Data entry clerks can usually make an hourly wage, which makes it a great option for those looking for a side income. Furthermore, data entry clerks are often hired for short-term or part-time projects, allowing them to pick and choose their hours.
5. Writer
Typically, the role of a writer is to produce content, such as blog posts, articles, product reviews, press releases, and more, for various companies.
Writers must have a good command of the English language and demonstrate great grammar and spelling in order to be successful. Additionally, writers must have the ability to create content that is search engine optimized and persuasive.
Many people have found the Earn More Writing course helpful to bump start your freelance writing potential.
All in all, freelance writing is a great way to make a living and offers flexible hours, the potential for long-term growth, and higher pay rates.
6. Web Search Evaluator
Search engine evaluators have the important job of ensuring that search engine results are relevant and accurate to the user’s intent.
For example, a user might enter the search query ‘chocolate cupcake recipes’, and the search engine should return relevant results such as recipes. If the search results are irrelevant or inaccurate, the search engine evaluator is tasked with rating them accordingly.
Search engine evaluators typically earn around $20 per hour and can make up to $40k a year if they take the job as full-time professional.
7. Virtual Bookkeeper
A virtual bookkeeper is a professional who can provide bookkeeping services to businesses from remote location.
Most people choose to work for themselves as a bookkeeper with a bookkeeping side gig (or full-time business).
One of the main benefits of working as a virtual bookkeeper is that no college degree or qualification is needed to get started. Generally, bookkeepers charge around $80 an hour or more for their services.
Finally, you can learn more about getting started with Bookkeeper Launch to help you become a freelance bookkeeper.
8. Image Reviewer and Photo Editor
Similar to a video editor, a photo editor’s duties include, but are not limited to, ensuring that images display the desired quality, accuracy, and clarity; checking for visual consistency across all images; editing images to make them look more appealing; and providing feedback on the images.
Additionally, they may be responsible for curating collections of images, creating new content, and managing projects.
For those looking to sell on Shutterstock, this is a great side hustle.
9. Create and Sell Printables on Etsy
With a little creativity and the right software, you can create unique printables that customers can purchase and print out themselves.
This can be a great way for you to make passive income with minimal effort.
In fact, my friends Cody and Julie did so well selling printables; they now teach others how to make a living creating and selling printables.
10. Selling on Amazon (FBA program)
This is a way to make money by reselling products you find online or in brick and mortar stores on Amazon for a higher price.
Amazon will ship the products to your customers, handle customer service, and even provide storage for the products.
With the right amount of work and dedication, you can make quite a bit of money with FBA.
11. Blogger
With blogging, you have the ability to work from anywhere in the world with just a computer and an internet connection.
You can write about whatever topics you are passionate about and be your own boss.
You can also make money blogging through various income streams such as affiliate marketing, paid sponsorships, ads, and more.
12. ESL Instructor
The job of an ESL (English as a second language) instructor is to provide English language instruction, usually via webcam, to those who are not native English speakers.
The benefits of this job are numerous: it allows for flexible hours, can be done from anywhere in the world, and offers an opportunity to make a difference in the lives of learners from all over the world. Additionally, being an ESL instructor allows one to learn about other cultures, stay up to date with language trends, and gain valuable professional experience.
To get the job, you need to have a thorough understanding of the English language and pass any certification tests.
This is a great type of job that pays weekly.
13. Virtual Assistant
A virtual assistant (VA) is a professional who provides administrative and technical support to clients remotely. They help with a variety of tasks like answering emails, data entry, blog management, bookkeeping, editing, proofreading, marketing, research, filing documents, and customer service – to name just a few.
The type of services you offer will depend on your skills, experience, and education.
The biggest benefit of working as a VA is that you can work from home and set your own hours.
And the pay can be quite lucrative, with rates ranging from $25 to $100 an hour.
If you’re interested in becoming a VA, Kayla Sloan offers a free workshop that teaches people how to become Virtual Assistants and makes up to $10,000 a month. Download her Virtual Assistant checklist.
14. Accountant
An accountant is a professional who is responsible for tracking financial records and preparing financial statements for a business or individual. They ensure that their clients’ finances are accurate and in compliance with applicable laws and regulations.
One of the primary benefits of working from home as an accountant is flexibility. You are able to work your own hours and set your own schedule. This allows you to create a better work-life balance and also gives you more time to spend with your family.
15. Freelance Jobs
A freelancer is someone who does work for themselves and not for a company.
This is typically contract-type work.
You can find freelance jobs on sites such as Upwork, Fiverr, or People Per Hour.
The best way to freelance is to know your own skills and how to monetize them.
16. Editor
An editor is a professional who is responsible for reviewing and improving documents, whether that be in print, online, or even on video.
Editing involves ensuring accuracy, flow, grammar, and style. This is a great non phone work from home job because it allows for great flexibility and does not require a college degree.
Most positions are freelance which means that you can work on your own schedule and take on as much work as you can.
17. Social Media Manager
Social Media Managers are in charge of maintaining a client’s presence on a variety of social media sites, such as Facebook, Pinterest, Instagram, Snapchat, YouTube, Twitter, and Google Plus.
They are expected to respond to comments, manage brand partnerships, create posts, photos, and videos, and track analytics to come up with an effective marketing strategy to promote their client’s accounts.
In addition to creating content, Social Media Managers typically monitor and moderate what is posted on the client’s social media accounts. They are usually responsible for ensuring that the content is appropriate and that the rules and regulations of the platform are followed.
The potential salary range for Social Media Managers can vary, but they can typically make $78000 per year.
18. Transcriber
A transcriber’s role is to convert audio recordings into written documents. They listen to audio files and type out what they hear.
Transcribers have the advantage of being able to work from home and can earn up to $21 per hour or more if they start their own business. They also have the potential to increase their wage upon gaining more experience.
Additionally, transcribers do not need to interact with other people, making it an ideal job for those who are more introverted or prefer working alone.
Finally, there are various resources available to help transcribers get started, including free mini-courses and companies that hire experienced and beginner transcribers.
19. Marketing Associate
As a Marketing Associate, you’ll be responsible for a wide variety of tasks, including developing and executing marketing campaigns, conducting market research, creating content, and managing and optimizing paid search, video creation, and other digital marketing efforts.
Additionally, you may be asked to support customer service via live chat, social media, text, and email.
The ideal candidate for this role will have excellent communication skills, be proficient in typing and have excellent spelling and grammar, and be passionate about social media platforms.
20. House sitter
A house sitter is someone who stays in a home while the homeowners are away and provides care for the premises and any pets that the homeowners may have.
The job of a house sitter includes tasks such as watering plants, taking out trash, and performing general maintenance of the property.
House sitters can benefit from the opportunity to experience different places, save money on rent, and have some extra time to explore their surroundings.
Platforms such as TrustedHousesitter.com make finding house-sitting jobs easier than ever before.
21. Online Tutor
The role of an online tutor is to guide students in their studies and help them understand a particular subject or skill virtually, through video chat or online software. Plus you have the opportunity to work with students from different countries.
Online tutoring jobs vary in requirements, but typically a bachelor’s degree or current college enrollment is needed.
They provide instruction and guidance, assist students with assignments, answer questions, and give feedback on their progress. The tutor also has a responsibility to motivate and encourage their students to stay on task and reach their academic goals.
22. Pet-Sitting Jobs
Pet sitting jobs can be a great way to make some extra money from home while spending time with animals (and not people)!
With Rover, you can earn anywhere between $10 and $20 an hour for dog walking, $20-30 for overnight stays, and some people are even making $1000+ a month in metro city areas. As a pet sitter, you have to stay at home with someone else’s pets and they pay you for taking care of their pets.
Rover.com is a great platform to find pet sitting jobs as they offer a wide range of services such as dog walking, pet sitting, and pet care.
23. Personal Stylist
Personal styling is an exciting and relatively new job that offers the opportunity to work from home. The role of a personal stylist is to help clients express their individual style through the selection of clothes, accessories, and other items.
It involves curating a set number of clothing items and accessories based on the client’s fashion profile. This job requires an eye for detail, an innate sense of style, and creativity.
It’s perfect for creative individuals who are passionate about fashion and have an eye for details.
24. Website Tester
Website testers are typically paid to assess the overall user experience on a website and provide feedback on how to improve it. W
You do not need a phone to complete your tasks; they only require a laptop with a webcam and microphone to record your observations.
Website testing is a non-phone work from home job that pays good money to ensure that websites are user-friendly. It is a flexible and straightforward way to make some extra cash.
25. Closed Captioner
A closed captioner is a person who transcribes audio into text for specific use on video.
This is a great job for those who learn and work better visually, as well as those who can type quickly and accurately. This type of work allows for a very flexible work schedule, meaning you can work when you are most productive and there is no need for any phone interactions.
You get the freedom to work on your own schedule and make a decent amount of money doing something that doesn’t require phone conversations.
26. Online Test Scorer
An online test scorer is responsible for scoring assessments such as tests, exams, and essays from students of high school or college. This job requires a certain level of expertise, as the test scorer must be able to interpret and evaluate the quality of the assessments accurately and fairly.
The test scorer must also be able to maintain the confidentiality of the students’ answers and grades and be able to provide feedback that is relevant and constructive.
This job typically requires a bachelor’s degree, and it is often seasonal with part-time hours.
27. Translator
The role of a translator is to take a language and convert it into another language, be it oral, written, or audio.
Translators not only have to be multi-lingual and have a good command of grammar and spelling, but they also need to be able to convey the meaning of the words they are translating accurately. They can work on a variety of projects, from subtitling to full-length books.
There is a wide range of online platforms on offer, so translators can pick the one that best suits their skill set and desired pay rate.
28. Graphic Designer
A Graphic Designer is someone who is skilled in using platforms like Photoshop, Canva, and other software to create visual and graphical designs.
Typically, these designs are used for things like logos and branding materials, websites, social media content, or clothing.
You must have a creative flair, as well as knowledge of graphic design and the required software. In order to be successful, they must have a computer with a good internet connection and the programs necessary to do the job.
29. Medical Coder and Biller
A medical coder and biller are responsible for translating a patient’s symptoms, diagnosis, and medication prescribed by a doctor into codes.
These codes are then entered into a database for the biller to use, who will turn them into a bill to be submitted to the patient’s insurance company.
The average pay scale for medical coders and billers can range from $45k – $65k per year, and they can find many remote positions on job sites like Indeed.com.
30. Instructional Designer
The role of an Instructional Designer is to research, write, design, and create training courses and manuals for a variety of people, such as educators, students, and employees.
Instructional designers need a degree in the subject being written about, or a degree in education, and should enjoy writing and editing. Working from home as an Instructional Designer has many benefits.
Working from home in an Instructional Designer role gives you the freedom to explore new methods and techniques to create the best possible course or manual.
31. Non-Phone Remote Nursing Jobs
With more and more companies offering remote work opportunities, there are many non-phone remote nursing jobs available.
The type of work ranges from utilization review nurses, clinical research associates, and data abstractors all work with data and compliance, ensuring procedures are being followed correctly and that they are medically necessary.
Companies such as Cigna, CVS, Flatiron, PPD, and UnitedHealth Group are just some of the many hiring companies offering these types of remote nursing positions.
32. Fraud Investigator
Fraud investigators are in demand in many industries, including financial institutions, e-commerce stores, healthcare companies, and insurance companies. As a fraud investigator, you’ll be tasked with looking for fraud, abuse, and irregularities in financial transactions.
If you have an eye for detail and like doing research, this could be a great non-phone job opportunity for you.
Companies usually require customer service experience or a criminal justice degree and/or a CAMS certification (Certified Anti-Money Laundering Specialist). It’s a great way to make a good income without having to pick up the phone.
33. Community Moderator
A community moderator is a person who oversees online forums, groups, and social media accounts to ensure that rules and regulations are being followed, questions are being answered, and spam and junk content are being removed.
It is an online opportunity where moderators can be employed to manage and moderate comments on various social media sites and chat rooms.
The benefits of working as a community moderator include the opportunity to work from home and a flexible schedule. Additionally, moderators will gain experience in digital engagement, such as moderating forums, chatting with customers, managing communities, and buzzing on social media.
34. Netflix Tagger
The Netflix Tagger is a real job opportunity that allows individuals to work from home watching movies and tagging them with the appropriate keywords, genres, and descriptions.
This job is ideal for those who have a passion for movies and experience or education in radio, television, and film.
Working as a Netflix Tagger (also known as Metadata Analyst) is not only rewarding but it is also beneficial for those who want to work remotely without having to make phone calls or talk to customers.
35. Provider Enrollment Specialist
A provider enrollment specialist is a non-phone work-from-home job that involves researching, reviewing, analyzing, and managing provider enrollment applications to ensure they are in compliance with guidelines.
Provider enrollment specialists usually require prior experience in medical terminology, appeals, claims, or customer service, and may also require an associate’s or bachelor’s degree.
36. Survey Taker
By completing surveys, survey takers are able to share their opinion and help inform companies and brands on how to provide better products and services that meet customer needs and expectations.
Benefits of working as a survey taker from home include the flexibility of being able to work at your own pace and the ability to earn extra income while working whenever and wherever you choose.
Additionally, survey takers can take advantage of cash, rewards, and sweepstakes entries as compensation for their time.
It is not a way to get rich, but it is a great way to make extra money on the side.
Here are the top legit survey platforms:
37. Chat and Email Support
Chat and email support workers provide customer support and assistance via email and online chat. They are responsible for responding to customer inquiries and resolving customer issues.
This customer service-oriented position does not require the use of a phone.
Chat and email support workers must be able to answer customer questions and respond to their inquiries quickly and accurately. They must also be able to use active listening skills and type quickly.
Companies often provide chat and email support workers with guidelines for providing customer support, and they may also require workers to understand their products in order to provide effective customer service.
Are non phone work from home jobs legitimate?
The answer is yes! In fact, there is a growing number of non-phone work from home jobs for those who don’t want to be on the phone all day.
Whether you’re a mom with kids and pets running around, or if you find customer service work draining, there are good options out there for you to make money from home without being on the phone.
In conclusion, non-phone work from home jobs are legitimate and provide a great opportunity to make money from home without being on the phone.
FAQs
Ultimately, the skills needed to succeed in non phone work from home jobs will depend on the type of job you are pursuing.
More than likely, you’ll need excellent typing skills, excellent spelling and grammar, and the ability to troubleshoot and solve issues, among other skills.
However, many of the jobs mentioned above pay between $15 an hour to $50 an hour.
Some companies may also offer a base salary plus bonuses or incentives.
Fortunately, there are plenty of non-phone jobs available for remote workers that don’t require a diploma.
However, you may have to take some online courses to excel faster in your field.
Many on this list are great low stress jobs that pay well without a degree.
Yes, there are software or tools needed for non-phone work from home jobs, depending on the type of job.
More than likely, you will need a computer and a reliable internet service.
Are you Excited to Work from Home Job No Phone?
Working from home has become increasingly popular over the years, as it offers flexibility, comfort, and the ability to work from anywhere.
All of these jobs that offer the best comfort and increased focus is working from home on the laptop. The advantages of this job include flexibility in schedules, the ability to remain in control of your own workspace, and enhanced focus as there is less noise and distraction.
With the number of remote job leads that are available, you are sure to find the perfect work from home job that suits your needs.
In addition, working from home gives you the freedom to work in a location of your choice. You no longer have to commute to an office or be bound by office hours.
Also, you can take breaks when you need them and work in a comfortable environment.
Which career choice are you going to look into?
Know someone else that needs this, too? Then, please share!!
I spent a couple hours this morning performing what ought to have been a simple home-maintenance task. The light fixture on our front porch had gone faulty, and I needed to replace it. I’ve done enough wiring projects now that the electrical aspect of the job didn’t bother me. But the woodworking? That was frustrating.
As I fumbled with the jigsaw (“Drat! Another blade bent!”), I wished again that I practiced woodworking more often. I have several friends who do so, and the skills they’ve learned help them to save money around the house. My incompetence this morning gave me plenty of time to reflect on the value of productive hobbies.
Productive hobbies When I was younger, I spent most of my spare time reading comic books and playing video games. There’s nothing wrong with a little self-indulgence, but the older I get, the more I appreciate hobbies that provide practical skills. Productive pastimes are not only fulfilling, but they can also help save money. (Sometimes they can even generate a little income!)
Here are a few hobbies and pastimes that can help to save (or make) money:
Gardening. Kris and I aren’t yet finished with our year-long garden project, but already we know that it has saved us money. (Find out just how much when we post an update this Saturday.) Even if it did cost a little more, it’s fantastic to have fresh food just feet from the front door. You don’t need a lot of space to start a garden. Consider square-foot gardening or container gardening.
Photography. Cameras can be a money sink, but photography doesn’t have to be expensive. You can have a lot of fun with a cheap point-and-shoot digital camera. With practice, you may even be able to make money selling digital photos online. I know several people who do this (and I’ve done it myself).
Woodworking. Carpentry is another hobby that can consume a lot of cash. But if you have the space and the time, you can also develop skills that yield big dividends in the long run. If I’d taken the time to learn woodworking, I wouldn’t have to pay a contractor to do some of our remodeling projects. (And I wouldn’t have cut a four-inch hole this morning when I only needed a three-inch hole.)
Knitting. As with many hobbies, knitting can be expensive, but there are ways to make it less so. Nell at Octopus Knits has pattern companies and yarn folks giving her product (yarns & patterns) to try. Some of my friends have taken commissioned projects. Kris is learning to knit adorable little stuffed animals; she could sell them for $20 a pop.
Computer repair. Because I’ve always been a computer hobbyist, I’m able to troubleshoot computer problems instead of paying somebody to do it for me. Before I turned Mac, I also saved money by building my own machines. In fact, for a couple years, I supplemented my regular salary by helping friends and family with their computer problems.
Art. Last week, I pointed to the work of lillyella, whose art generates enough income through her Etsy store that she now does it full time. In the past, I’ve also mentioned Ayla, a teenager who sells her art glass at the local farmers market. Kris has a friend who is learning how to work with stained glass, but just for fun.
Cooking. My friend Laura has a group of friends that love to cook. They recently organized a cooking evening to provide freezer meals for each of them. They decided on six menus, assigned the shopping, borrowed a church’s kitchen, divided duties like cutting, slicing, dicing, mixing, frying, cleaning, split the costs and each went home with six different items for future use. But even learning to cook for your own family can save you a lot of money.
Baking. Baking is fun for its own sake, but it can also save you money with gifts. Who wouldn’t rather have a couple dozen home-baked cookies than another useless mug? Some people can even turn this skill into a career. My aunt turned a baking hobby into a business, creating cakes and catering weddings. She provided jobs for several other family members, too!
Canning. Though Kris has always enjoyed canning, this summer has been amazing. She’s discovered it’s a hobby she truly loves. She derives immense satisfaction from preserving her own food. “It’s comforting to walk into the pantry and know that I made all of this,” she said recently. “I know where the food came from, and I know that we’ll be eating it all winter.” Though the start-up costs are a little high, they repay a hobbyist in time.
Making music. My friend Michael has a musician friend who plays the piano and has been paid to play at private events. He has another friend with a great voice. This man loves to sing, and he and his friends hire themselves out as a quartet around Valentines Day and to sing Christmas carols during the holidays. (I’m always jealous of my musical friends. I know it’s hard work to become proficient, but it looks like such a fun way to stay entertained.)
Vehicle maintenance. I know little about cars. I wish I knew more. Knowing even basic vehicle maintenance can save you big bucks. I once knew a guy who performed nearly all his own auto work. He could buy a junker car, fix it up, and resell it at a nice profit. He wasn’t going to get rich doing this, but he enjoyed the hobby, and it kept him in money for his own vehicle.
Physical fitness. You’ll never get rich running road races, but there’s no question that a healthy body can save you money. Find a physical activity you enjoy: biking, running, hiking, dancing, yoga, weightlifting. Play a team sport. Regular exercise can be fun, but it will also save you money in the long run.
The possibilities are limitless. There are countless fun and interesting hobbies that can either save you money, or maybe help you earn a little on the side.
Quick tips You’ll notice that none of these hobbies involve collecting. I’m an inveterate collector myself (comics, books, notebooks, movie serials, music of the 1920s, …), so I know first-hand how expensive it can be. Some would argue that it’s a form of compulsive spending, and I can’t really disagree. Since I’ve begun focusing on hobbies that involve doing rather than getting, I’ve spent much less money.
For some hobbies, equipment can be prohibitively expensive. In these cases, you may be able to find used stuff on Freecycle or Craigslist, or you may be able to begin with low-end gear. (This isn’t always a good option. If you think you’re going to be doing a lot of running, you should buy a quality running shoe from an expert, and not settle for cheap sneakers, for example.)
In many cases, it’s possible to jump-start a hobby by taking a course at a community college or community school. I spent a year taking photography classes, for example. The instruction and experience were invaluable, and helped me develop the skills necessary to actually sell a couple photos.
My friend Michael likes woodworking but can’t afford (and doesn’t have space for) all of the equipment. When he needs to build something, he signs up for a community college woodworking course so that he can use industrial woodworking tools at a reasonable cost.
Further reading I’m a big fan of productive hobbies, and I’m not the only one! Here are some articles on the subject from around the web:
Don’t forget that hobbies are an excellent way to make gifts for less than it costs to buy them. Kris sometimes knits gifts for special occasions. Most years she gives some sort of home-made food to our friends for Christmas. I sometimes give photographs. One of the best birthday gifts I ever received was a batch of homemade chocolate chip cookies.
Inside: Do you want to make quick money? If so, you’ll love this collection of ways to make cash in one day. Start these tasks and start making extra cash fast.
In today’s world, there are many ways to make quick money in one day.
The internet and technology have created opportunities that were non-existent just a few years ago. You can now make money in your PJs from the comfort of your own home! I do!
We all have those times when we need cash fast. Maybe it’s for an emergency car repair, an unexpected medical bill, or a last-minute plane ticket home.
Whatever the reason, there are plenty of ways to make quick money in one day.
We will include some of my personal favorites as well as methods I researched.
In today’s blog post, we will outline the best ways to make quick money in one day.
How can I make immediate money?
If you need immediate money, you need to look for ways to get cash in your hand quickly.
This would be by selling your possessions, participating in focus groups, find a gig job that pays cash tips.
These ideas will get cash in your hand within 24 hours.
How much money can I make in one day?
Many people wonder, “How much money can I make in one day?”
The amount of money you can make in a day depends on a variety of factors, such as your job, side hustles, and financial opportunities.
With a bit of hustle, creativity, and smart financial decisions, it is possible to make up to $1,000 a day.
However, you need to develop a smart strategy for achieving this goal. Investing in education will help you put that money to work growing for you.
This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.
50 best ways to make quick money in one day
Making money quickly is possible with some time and effort.
There are a lot of ways to make quick money in one day. In fact, many ideas center around how to make money online for beginners.
Here are 50 of the best methods that you can use to make some extra cash.
1. Work on freelance projects
Working on freelance projects can help you make quick money in one day by providing you with one-off jobs that can benefit from your skill set.
With the percentage of freelance workers in the workforce climbing steadily, there are many online marketplaces that make it easy to connect with businesses and individuals who need your services.
Sites like Upwork, Fiverr, and Toptal allow you to create a profile and showcase your work, making it easy for you to set your own rates and decide on the length of the project.
Additionally, the more experience you get, the more you can charge and the higher your demand will be, potentially leading to full-time work.
2. Sell items on consignment
Selling items on consignment can help you make quick money by providing an easy, fast way to earn a profit from gently used items.
With consignment shops, you can take your clothes, electronics, jewelry, musical instruments, or even your car to be sold without having to take an active role.
For a cut of the profits, your items will be placed in front of buyers, allowing you to make quick cash.
3. Take on odd jobs
If you’re looking for ways to make money quickly, odd jobs are a great way to do so.
Think of day laborer types of jobs. You can use an app like TaskRabbit to find work in your area.
Some of the common odd jobs you can consider include:
Gardening – you can offer to do gardening work such as weeding, planting, mowing, and trimming.
Furniture Assembly – if you have experience in assembling furniture, you can offer your services to people who need help.
Cleaning – you can offer cleaning services to keep homes and offices tidy.
Painting – you can offer your painting services to those who need help with their walls.
General Handyman Work – if you are good with your hands and have experience in repairing and fixing things, you can offer your services to people who need help.
Moving Gig – people are always looking for help with moving.
4. Trade Options
If done correctly, trading in options can help you make quick money and generate substantial returns in a relatively short period of time.
However, trading options come from experience and should not be taken as a get-rich scheme. Personally, I trade options for a living.
You can make quick money trading options if you know what you’re doing. The key is to identify when the market is going to move in a certain direction and then make the right trades to capitalize on the profits.
Here is the one and only investing course I recommend.
5. Become a rideshare driver
Becoming a rideshare driver can be an easy and convenient way to make money quickly.
All you need to get started is a valid license, active insurance coverage, and an approved vehicle. With Uber and Lyft, you can set your own hours and receive a base rate plus tips and distance or time-based bonuses.
From one of our rideshare drivers, we learned some tricks of the trade such as working in peak hours or in areas with popular nightlife scenes or active airports.
6. Offer house cleaning services
Nowadays, people don’t want to learn their own house, so starting a house cleaning service is a great way to make quick money.
With countless opportunities available online or on local job boards, you can easily find a job that works for you. There are even ways to market yourself so potential customers can find you!
If you have a background in cleaning and don’t mind physical labor, you can make up to $25 an hour or more.
Becoming a housecleaner is a great way to make extra money on the side and you can even make up to $200+ per weekend.
With a bit of effort, you could have a great side-hustle in no time!
7. Rent out your parking spot
If you live in a busy area and have a spot that’s in high demand, you can easily rent out the space for a premium price.
This can be especially profitable if you live near an event center and can offer parking to visitors who don’t want to pay a premium to park in a lot or parking structure. You can put your parking spot to work with services like Just Park or Neighbor.com and earn up to $300 per month.
Renting out your parking spot offers a great way to make extra money while utilizing unused resources or space.
8. Proofread documents
Whether you are a stay-at-home parent, a teacher looking for extra income during summer vacation, or someone with a passion for grammar and punctuation, you can make up to $65,000 a year by proofreading documents.
Make sure to take a Free Training Course: Caitlin Pyle offers a free workshop on how to use the most popular proofreading tool and how to become a work-from-home proofreader.
With some hard work and dedication, you can start earning quick money as a proofreader. Good luck!
9. Walk dogs
Walking dogs can be a great way to make some quick money.
Apps like Rover provide pet owners with a platform to find dog walkers in their area and pay for their services.
A dog walker can make $15-18 per 30 minute walk, with occasional bonuses for boarding or pet-sitting. This is a simple way to get your exercise and make cash.
10. Take an online survey
Companies and websites are always looking for consumer feedback in order to improve their products and services, and offer incentives such as cash, rewards, and gift cards for filling out surveys that can take as little as a few minutes.
Popular survey sites like Survey Junkie and Swagbucks offer these incentives, enabling individuals to make a few quid in just a few minutes of form filling.
Most surveys will only take a few minutes, so you will have to do a bunch to add up to serious cash for your feedback.
Here are the top legit survey platforms:
11. Sell your old junk
Are you looking for an easy way to make some extra money? Why not start by looking around your house and attic/basement for things you no longer use?
You can turn those things into cash by selling them online or having a yard sale.
With a little effort, you can easily make hundreds of dollars by selling your old stuff. It’s a great way to declutter your home and make some extra cash in the process.
Make sure to list your items with attractive descriptions and photos to draw in potential buyers.
12. House sitting
House sitting is a great way to make quick money. It allows you to watch someone’s home while they are away and take care of tasks such as feeding pets, watering plants, and taking out the trash.
You can usually make between $25 to $50 per day depending on the market demand in your area. It’s easy to start, with most sites having a minimum age requirement and a sign-up process that takes only minutes. Payment is typically made when the job is completed.
More importantly, beyond making good money, you are able to housesit in beautiful locations that you may not be able to do otherwise. Personally, this is something I want to start doing.
Build your profile on Trusted Housesitters now.
13. Babysit
Babysitting is a great way to make extra money, especially for those who are looking for flexible jobs that match their availability.
Whether you’re an experienced babysitter or a novice looking to give it a try, there’s no doubt that you’ll find plenty of opportunities available. With a little bit of effort and a lot of dedication, you can make a great living out of babysitting.
Most babysitters earn way more than minimum wage making this a great gig.
14. Deliver food orders
Delivering food orders can make you money quickly by taking advantage of the increasing trend in the popularity of food delivery apps.
With driver-friendly apps like Instacart, DoorDash, and Uber Eats, all you need is an insured vehicle and a smartphone to start delivering food to customers in need.
The pay per delivery can go even further if you work on busier nights like Friday or Saturday. With many apps, you can also choose your own hours and the flexibility to work as much or as little as you’d like. This can be a great way to make some fast cash on the side.
15. Earn money with eBay
eBay is an amazing platform for anyone looking to make some extra money by selling items they don’t use. Whether you’re looking to get rid of an old phone, clothes, or books, eBay is an easy and accessible way to do so.
You can start by selling items you don’t need or don’t use anymore.
You can also consider buying items at a low price with the intention of selling them at a higher price.
If you’re looking to make a full-time income from home, selling items on eBay could be a perfect way. You can start small by buying a thrifty item for a low price and selling it at a much higher price.
With the right knowledge and resources, you can make money on eBay easily. So get started today and watch your earnings grow!
16. Write articles for websites
Writing articles for websites can be a great way to make quick money in one day.
With the increasing amount of new content created daily, business owners often don’t have the time to create content for their websites themselves.
Freelance writers can fill this gap by providing quality content for clients in exchange for payment. Depending on the complexity and length of the article, writers can make anywhere from $25 to $500+ in a single day.
By specializing in a niche, writers can showcase their work as samples to potential clients. Furthermore, writers can establish relationships with other bloggers in their niche, guest blogging, and approach websites in their niche with their writing services to further increase their chances of finding work.
17. Become a pet sitter
Personally, I have a friend who makes money by being a pet sitter and has help from her kids.
With Rover, pet owners in your area can easily find and hire pet sitters for their pets. Dog sitting is the most popular pet sitting activity, and it can earn you around $20-35 for overnight stays.
Plus, you get to decide when and how you want to work, and you can fit it around your own schedule. With the right amount of communication and excellent service, pet owners may even offer you recurring gigs.
18. Participate in focus groups
Participating in a focus group can be a great way to make quick money in one day.
Focus groups are usually based on interesting products or services, and they can pay participants anywhere from $50 to $400 for their time. Not only is it a great way to make money quickly, I have found many focus groups can also be a lot of fun.
The hardest part with focus groups is it is not a steady stream of income as you may not qualify for each opportunity.
19. Do yard work
Just like housecleaning, this is a popular job to be hired out.
Yard work such as basic gardening and landscaping, shoveling snow or salting walkways, and even cleaning gutters can all be done for a fee. Advertising your services through flyers, door knocking, or posting on local job boards can help you find potential customers.
By doing quality work, you can turn this into a weekly gig for quick money.
20. Shop at thrift stores and buy low and sell high
You buy items for a fraction of the cost and resell them for a higher price. For example, you can find brand-name clothing, electronics, antiques, and children’s toys at thrift stores that you can resell on online platforms such as eBay, and Facebook Marketplace.
You can also look for items marked as “free” on the side of the road and spruce them up to sell for a profit.
Shopping at thrift stores can help you make quick money in one day, and with time and experience, you’ll discover which items sell the fastest and for the most money.
To make money flipping items, you must do your research upfront and know how much you can pay for something while still turning a profit. With time and experience, you will learn which items sell the fastest and for the most money.
21. Photography gigs
You can make money with photography in two ways:
Turn your photographs into cash by selling them through stock image websites such as Shutterstock or iStock.
Offer your photography services for family sessions, birthday cake smashes, and even weddings.
Either way, you are able to turn your passionate hobby into a way to easily make a decent income in one day.
22. Participate in sweepstakes
Participating in sweepstakes can help you make quick money in one day by giving you a chance to win big.
Yet, this option comes with a lot of RISK!
There are a variety of competitions and prizes available, ranging from online product giveaways and gift vouchers to big-money TV game shows. You want to look for sweepstakes that are free to participate in and not pay money.
This one ranks up there with the left hand itching principle.
23. Use your Writing Skills
Are you looking to make money with your writing skills? There are lots of opportunities available that pay you to write. From blogging to freelance writing, to reviewing music, you can find the perfect job that allows you to utilize your writing skills and get paid.
You can also make money by helping people refine their writing. If you have a good grasp of grammar and can help people write in a more engaging and structured way, then you can charge for your services.
Publications often hire freelance writers, so that’s another avenue to explore.
No matter what you decide to do, there are plenty of ways to make money with your writing skills – all you have to do is find the right opportunity for you.
24. Become a home staging stylist
Becoming a stylist can help make quick money in one day by offering services to those who are in need of help staging their homes for sale.
Realtors often hire outside help to ensure that the home is presented in an attractive and appealing way, and these services can be provided for an hourly or flat fee.
This is a great part-time gig.
25. Donate plasma
You can make money quickly by donating plasma.
Plasma is the liquid part of the blood that contains antibodies. It can be used to create medications and other medical products. Plasma donation is a safe procedure that can help people in need.
Typically, you walk out with cash immediately.
Check with your local blood bank or hospital to learn more.
26. Host workshops
Hosting workshops can be a great way to make money in a short period of time. There are endless webinar ideas you can try, such as live-at-home fitness classes, cooking, a writing workshop, an Excel class, nutrition coaching, or even a first-time homebuyer class.
With the rise of video conferencing, it’s easy to set up webinars to teach people your skills and knowledge.
Typically, you will need to build an online presence with a social media following to hold successful workshops.
27. Trade Stocks
Trading stocks can be a lucrative way to make quick money, but it is essential to understand the risks involved.
With the help of online market trading platforms, anyone can start to trade stocks with a minimum amount of money.
Learning how fast you make money with stocks, but realizing you need to learn to trade stocks is like going back to school for a stock trading education.
Although trading stocks has the potential to generate quick money, it is important to note that all trading involves risk and that you should only invest what you can afford.
28. Become a courier
Being a courier is a great option for flexible income, as they allow you to set your own hours and work as much or as little as you’d like.
Think outside the box of UberEats or Instacart. This would likely be for a local business that needs to move documents from location to location.
You will need to be reliable and trustworthy.
29. Deliver Pizza
Even today, this is a classic gig to make quick money by delivering pizza!
Businesses are desperate for workers, so finding a job should be fairly easy. However, be prepared to work more than one day.
30. Repurpose your skills
Those skilled in writing, graphic design, coding, bookkeeping, or any other number of computer-based skills, can use these sites to find freelance jobs that require their skills.
Additionally, those with knowledge or experience in a particular field can create and sell an online course via a platform like Teachable or Podia.
Too often, we overlook the things that we are the best at, yet repurposing your skills us a great wat to make money.
31. Dog groomer
The income potential as a dog groomer is considerable.
According to the American Pet Products Association (APPA), pet owners spent $136.8 billion on their pets in 2022.
Dog grooming is a easy way to make money.
Over to pick up dog poop and you can double how much money you make.
32. Sell your unwanted items
Selling unwanted items on eBay and Amazon can be a great way to make quick money.
By scouring online retailers, local thrift stores, and yard sales for hidden treasures, individuals can find consumer goods for cheap and then resell them for extra profit.
Selling on Amazon also provides an opportunity to source products for fulfillment.
Additionally, apps like LetGo, OfferUp, and Facebook Marketplace make it even easier to make extra money, as people jump on items quickly.
For those with a strong entrepreneurial spirit, buying items at a low price and then reselling them at a higher price can generate a decent side income.
33. Sell Printables
If you’re creative, you can create and sell digital products like ebooks, courses, templates, and graphics.
Digital downloads are also becoming increasingly popular, as they require no shipping or fulfillment costs and you can easily make them once and sell them hundreds of times over. Depending on the craft and the demand, your potential earning potential can be quite high.
In fact, selling printables is a popular summer jobs for teachers!
So why not give it a shot? With the right strategies, you could start making a few hundred dollars a month with very little effort.
34. Crafts and handmade goods
One of the best ways to make money quickly is by selling crafts and handmade goods on websites like Etsy.
From jewelry and candles to sourdough bread to quilts and custom T-shirts, there is a huge variety of items that you can make and sell. You can also design and sell custom stationery, pillows, tote bags, coasters, cosmetics, and more.
35. Dropshipping
Dropshipping is an online business model that allows entrepreneurs to start an online shop without having to keep a product in stock. Instead, a business makes a sale and then passes the order along to a third party, known as the dropshipper, who ships the product directly to the buyer.
Dropshipping is a great way to make money quickly, as it requires minimal upfront investment and overhead.
With dropshipping, you can add products to your store without having to buy them in bulk, and you don’t need to worry about shipping or fulfilling orders.
36. Affiliate Marketing
Renting out your property can help you make quick money in one day by taking advantage of the services offered by websites like Airbnb.
Affiliate marketing is a way to earn money by promoting other companies’ products or services. You can do this without a website, by sharing affiliate links on social media, a blog, online forums, post comments, and with friends or family.
When someone buys a product or service via unique affiliate link you provide, you get paid a commission.
It is possible to make money quickly if you have a social media following or a website, as you can start promoting all sorts of companies, products, services and offers online.
37. Work for tips
Making money quickly by working for tips may sound intimidating, but it is actually very achievable with a bit of hard work and determination.
Tips are normally paid in cash, which is exactly what you need.
Jobs that pay tips:
Waitstaff
Bartender
Bellman
Drivers
Casino dealer
Golf caddy
Babysitters
Also, many jobs that pay weekly work for tips.
38. Rent out your property
These services allow you to rent out a room, a condo, or your own home if you’re away on vacation.
Airbnb has revolutionized the hotel industry by allowing everyday property owners to lease their place to travelers. By creating an account and listing your property, you can immediately start earning passive income.
With the right location, you can create a steady stream of income that can help you make quick money in one day.
39. Join a MLM
Joining a Multi-Level Marketing (MLM) company is one of the most popular ways to make money these days. With an MLM, you can potentially make a lot of money by building a team and earning commissions from their sales.
But you need to be careful and do your research to make sure it’s an opportunity worth pursuing.
MLMs can be profitable, but it can take a lot of time and effort to get them off the ground and make them successful. You need to be prepared to take the time to build your team, train and support them, and provide them with the resources they need to succeed.
Personally, I have tried making money with an MLM and found out that it was not worth the time or effort.
40. Collect and sell scrap metal
Collecting metal items such as old swing set parts, metal toys, and other bits of metal can be sold at scrap yards or redemption centers for a small sum of money.
Iron, steel, aluminum, brass, and copper are the most commonly traded types of scrap metal, and the prices vary depending on the type and amount of metal.
This is a simple way to make money if you put in the resources. Just don’t steal metal because that can get you in severe trouble.
41. Deliver for Food Delivery Apps
This industry is booming with no signs of slowing down. You can easily make $100 a shift by delivering food!
Sign up for driver-friendly apps such as Instacart, DoorDash, and Uber Eats. These apps allow you to set your own hours and work as much or as little as you’d like.
Make sure you have an insured car, truck, bike, scooter, or motorcycle. Depending on what you choose to use, certain apps may have different requirements.
Go to the restaurant and pick up the order. You’ll be paid a flat delivery fee, an additional fee per item ordered, and 100% of the tips customers choose to give you.
Deliver the food to the customer.
Get paid instantly, usually within the same day.
Maximize your earnings by delivering for multiple apps at once. This will give you access to more orders, and a larger area to deliver in.
42. Become A Virtual Assistant
Virtual assistants are in demand right now.
Consider becoming a virtual assistant with no experience to help small businesses with tasks like scheduling appointments and managing emails.
Typically, small businesses are looking for someone to take a short-term 3-month stint or a long-term relationship.
If you have marketable skills, you will make an outstanding virtual assistant.
43. Cook and deliver food
Cooking and delivering food can make you money in one day, especially since the demand for convenient delivery is increasing.
If you are cooking food on your own, you need to check with your local state and city regulations to see if you are allowed to sell food from a home kitchen. These food regulations are tough, so make sure you comply with these regulations.
However, many busy families are looking for a personal chef and are willing to pay for the service.
44. Trade-In Programs
Trade-in programs are a way for people to get quick money by selling their old phones, tablets, and other electronics. These programs give customers the opportunity to receive cash or gift cards in exchange for their unwanted devices.
You can trade in your own unused or unwanted electronics or for neighbors who don’t want to deal with the hassle themselves.
When selling through a trade-in program, customers are usually asked to provide a description of the device and its condition. The amount of money received depends on the device and its condition.
Plus you are helping the environment by keeping old devices out of landfills.
45. Become a social media influencer
If you have a large following on social media, you can make money by becoming a social media influencer and promoting products or services.
There are a number of ways to make quick money as an influencer. You can promote products or services by posting about them on your social media account.
Obviously, you must thrive using social media.
46. Flipping items on Poshmark
Making money on Poshmark by flipping items can be a great way to make cash.
You can find items to resell from big box retailers, online retailers, local thrift stores, yard sales, flea markets, eBay, Facebook Marketplace, and Craigslist. Potential items you can flip for profit include brand-name sneakers, clothing, and purses.
You should also figure out which items sell the quickest and for the most money.
Poshmark also has a “bundling” function which allows you to group similar items together for a discounted amount. This is a great way to make more money as you can sell multiple items in one go.
This platform allows followers, so it is easy to build return buyers.
47. Start a small business or side hustle
Small businesses and side hustles can be a great way to make money quickly. Consider your skills and interests and start something that can help you turn a profit.
No matter how you do it, starting a business can be a great way to make money and meet new people.
Building your side hustle to a full-time income will not happen overnight, but you will make progress with hard work and dedication.
48. Take advantage of Swagbucks
Swagbucks is an online rewards and survey platform that provides numerous opportunities to make money.
With Swagbucks, you can earn money by completing surveys, watching videos, playing games, and even shopping online. With each task, you can earn anywhere from $0.40 to $2.00 in SB points which can be redeemed for cash back or gift cards.
Plus, when you sign up, you get a $10 bonus and can even get 500 SBs for referring a friend.
49. Tutoring
Tutoring is a great way to make quick money while using your knowledge and expertise to help others. It involves providing instruction to an individual or a small group on a particular subject, usually to help them improve their understanding.
Tutors can work with students in person or online, depending on the subject and their availability.
No matter your educational background, you can make money tutoring as long as you have a deep knowledge of a subject. With the right resources and platform, you can find tutoring gigs in your area and start making quick money today.
50. Make money with your phone
Making money with your phone is possible with a little bit of effort. You can sign up for apps to complete small tasks and earn money quickly.
Alternatively, there are plenty of mobile apps such as Ibotta, Rakuten, Shopkick, Swagucks, or Receipt Hog which can help you make some extra money with simple tasks.
You can also take on odd jobs through apps like TaskRabbit to make cash.
Finally, you can trade stocks on your phone.
There are so many ways to make money with your phone today.
FAQ
Yes, it is possible to make passive income. This type of income is earned with little effort or direct work.
It can come from investments such as returns and dividends, as well as from sources like stocks, rental properties, and online businesses.
With some creativity and diligence, anyone can create multiple sources of passive income. It may take months or even years to build up these streams of income, but the potential rewards are worth the effort.
Many of the statistics are leaning on the fact that you need a side hustle to make ends meet or get ahead financially.
I started a side hustle to make money to afford what we wanted to do. Personally, my side hustles are blogging and day trading stocks.
The best side hustles are the ones that you are passionate about. More than likely, you will be spending time on them in your free time, so you want to enjoy them.
Regardless of what type of side hustle you choose, you can make extra money on the side. To maximize your earnings, you can even combine several different side hustles together to create multiple income streams.
I always say, if I can make $100 a day, then I am making $3000 a month. That will make a difference in my personal finance situation.
Before you can make $100 a day, you need to find out how you will make money. Look for opportunities that match your skills and interests. Some examples of this include driving for Uber, selling your skills on freelancing sites, creating an online store, or even starting your own blog.
Learn how to invest 100 to make 1000 a day.
When looking to make $1000 fast, you need to up your game – specifically, the time and energy to make your goal happen.
You could start by looking for high-paying side hustles such as trading stocks or options, becoming a freelance writer, setting off as a virtual assistant, or by selling products online.
The key is to make $1k a day consistently. Then, you will be working on how to turn 10k into 100k.
Which Quickest Way to Make Money in a Day Will You Choose?
There are many ways that you can make quick money in one day.
Whether you want to start a side hustle, do some odd jobs, or make money online, which option is best for you?
Whichever option you choose, make sure that you choose something you will enjoy doing as well as the quickest way to make money.
We covered fifty options to make cash and start making extra money today!
Which one is your favorite?
Mine are trading and writing. Comment below on which method you will choose.
Know someone else that needs this, too? Then, please share!!
After living in our first home for almost five years, we were ready to upgrade. With a second child on the way (and at least a third in the not too distant future) we needed more space, so we knew it was time for a larger house. We took a bit of a different approach in that instead of buying a bigger home, we opted to build our dream home. Are you considering an upgrade to a bigger home? If so, I’ve asked Miranda to offer her take on whether an upgrading to a bigger house makes good financial cents for your situation.
Today’s low home prices and low interest rates are making home ownership more attractive to many. And, while first time home buyers are getting in on the act, they aren’t the only would-be buyers interested in making a home purchase. Plenty of current home owners are considering upgrading to a larger home.
In many markets, home owners are looking at homes in the next price range up as good buys, since foreclosures and a slow market are resulting in good deals. But, as tempting as it is to upgrade to a larger home, is it really a good idea? Here are some things to consider before upgrading to a larger home:
Why Do You Want to Make the Move to a Larger House?
Consider your situation. Sure, a bigger, nicer house is a plus, but is your decision based on some sort of notion of status? If your main motivation is to impress others with your bigger home, it may not be the best reason. However, if your family is starting to outgrow your current home, or if you believe that you would enjoy a better quality of life in a nicer home, then it might worth considering making the move.
What’s the Situation with Your Current Home?
The biggest issue with upgrading to a larger house is that you still have to sell your current home. Consider the market in your area. How long is the home likely to be on the market? Are you getting a good enough deal on the larger home to make up for any price cuts you will have to make to sell your current home in a timely manner? Another concern is that your current home may not yield enough of a down payment, due to its own home value issues. If your current home is underwater, or if getting approved for the newer home depends on selling your current house, you may not even have the option of upgrading to a larger house.
Are You Prepared for the Costs of Moving Up?
Before you decide to upgrade to a larger home, consider the additional costs. Not only do you have to think about an increased mortgage payment, but your home insurance and property taxes will increase your costs as well. On top of that, there are costs associated with moving, and you may need to buy more furniture, or make changes to the home. Utilities in larger homes are more expensive, as is yard care and home maintenance. If the home has been foreclosed on, there may be some home repairs necessary. You may not be prepared for the additional costs associated with a bigger home.
Can You Handle the Home if it Doesn’t Appreciate?
Taking on extra debt is always something to be approached with caution — especially if you are planning on upgrading to a larger home. Many people feel that a larger home would get more bang for the leveraged buck, since the appreciation would make up for it. But, even if you buy at the bottom of the market, there is no guaranty that your home will appreciate in value at the rate you expect. As we saw not too long ago, the real estate market crashes, just like everything else. If you are banking too much on a larger home as an investment, you might be disappointed. Consider upgrading as a purchase, rather than an investment likely to yield big returns.
Bottom line
If you can handle the costs, and you think that moving into a larger home will improve your quality of life, it might be a good time to upgrade. However, make sure you are prepared for what comes with a larger home, and understand that you might end up with a big purchase, rather than a good investment.
This is a guest post by Miranda Marquit. Miranda is a journalistically trained freelance writer and professional blogger working from home. She is a contributor for Mainstreet.com, Personal Dividends and several other sites. Miranda is not affiliated or endorsed by LPL Financial. The opinions voiced in this material are for general information and are not intended to provide specific advice and/or recommendations for any individual.
Now in its third year, company initiative provides $100K, mentorship and resources to support qualifying high-potential Black entrepreneurs MILWAUKEE, May 4, 2023 /PRNewswire/ — Northwestern Mutual, in partnership with gener8tor, today announced the addition of five promising tech startups to its innovative Black Founder Accelerator program. An extension of the company’s Sustained Action for Racial … [Read more…]
Part One: Avoiding Pitfalls when Buying Shitloads of Stuff
Mr. Money Mustache amongst his favorite elements (sunshine, tools, dirt), setting steel posts for a fancy fence.
The New Old House project is going very well, thanks for asking. Slowly, if you measure the progress by any sort of professional standard, but very well, if you consider the fact that I am having an absolute blast working through it bit by bit.
“What a fine life this is”, I thought to myself this week, as I stood out on my spacious new concrete patio which overlooks the park, cutting out some elaborate wooden forms with a high-end cordless jigsaw. It was a very warm day, and the bright sun shining sideways from its winter solstice position lit up the whole scene like a glowing postcard. There have been many moments like this, where the deep satisfaction of solving tricky puzzles and building something big takes over my whole mind and makes me smile and chuckle to myself like a fool.
It’s not all Nailguns and Roses of course, as there have been plenty of obstacles along the way. The complex design required a lot of sourcing of tricky materials (including almost 3000 pounds of gigantic steel beams which I have been cutting and welding all week). The byzantine regulations of the 2012 International Building Code added some troubles as well, especially when interpreted by an overworked and under-motivated crew of building inspectors who often don’t return calls and emails. And my own juggling of family, friends, and construction time has resulted in a very lax work schedule. But with no looming deadlines or financial constraints and the reassurance that I have done this all before, I have had the luxury of taking each thing in stride and working through it, one call, email, and shovel at a time.
The other challenge is the odd feeling of suddenly becoming one of the biggest consumers in town. Almost every day I have to buy stuff. Tools, materials, and supplies are needed in abundance for a project like this, and so I’ve spent about $20,000 in the past three months. On top of all that steel, there is a huge pile of engineered lumber taking up most of the back driveway and more deliveries on the way. I try to remind myself that it’s an investment, and the money will be returned many times over when we sell our current house (this downsizing will free up over $100,000, even after all these renovation costs). But I still see the trucks and forklifts, steel and wood, cardboard and plastic wrap, and can’t help but notice that for now I am chewing up a huge share of my own planet just to build myself a dwelling.
Renovation is always an expensive and complex affair, but I am making a bigger effort than ever this time to take the edge off of it. I am investing extra time and effort to cut the cost and material waste involved in this project, and I thought it would be worthwhile to share some of the results with you, as a mid-project update.
Designing to Reduce Ridiculousness
When faced with a blank slate, most would-be homeowners try to cram in every possible idea and feature. “It would be nice if the kids could each have their own ensuite bathroom, and I really want that dedicated closet just for my shoes this time.” We have felt the same temptation to chase perfection, but are working to suppress it. We avoided the usual urge to add floor space to this house, and instead just re-partitioned the existing space more efficiently. After all, you only have one body and thus can only use one room at a time. Whenever any room sits unused, it consumes your resources while returning no benefit.
There’s also philosophy to consider: by now, you and I both know that adding more luxury to one’s living arrangements will not produce a happier life. But houses can still bring happiness when they meet needs: shelter, a place for family and friends to gather regularly, and a location close enough to amenities that you don’t need to engage in the proven happiness destroyer of car commuting in order to live there. Since my old house already met these needs, any project like this one must be about the journey itself. The effort, hard work, and overcoming of obstacles must be its own reward. This is definitely true for me, plus there is the endpoint of greater wealth and ongoing satisfaction of being surrounded by things I’ve built myself.
With the design mostly in place, it was time to go in search of materials. Before even beginning the shopping I was able to decrease the quantity of steel and wood required by negotiating down a few structural details with the engineer. Then I sent the design to a lumber supplier, and reviewed the resulting parts list with a fine-toothed comb to reduce waste and find less material-intensive ways to get the required strength. This was a tedious exercise that involved no rewarding sunshine or adventures with power tools, but it sliced almost $2000 from the budget right away. Smaller designs are generally smarter ones.
Craigslist Does it Again
Through Craigslist, I found an old steelyard that was going out of business in downtown Denver. There, I was able to buy about 40% of the steel beams I needed for the project, at only one fifth of the price of new steel. They were odds and ends which were of no use to the typical large commercial buyer of this product, so this find was a big score for both wallet and ec0 footprint.
By removing all seats (even front passenger) from my van, I was able to carry 1200 pounds of 13-foot segments safely home from Denver.
Reuse and Recycle
I sold the old dishwasher and fridge from the house to free up space and cash. And now I’m making a daily visit to the “Materials” section of Craigslist to scoop up any workable materials and appliances for the new design, displacing the need for newly purchased ones whenever possible.
I tore out whe whole failing spaghetti-network of copper and cast iron pipes from the crawlspace and rebuilt it with PEX and ABS, then took the whole 500-pound lot of the old stuff down to the metal recycling center so it could be melted down and re-used. They gave me a check for $108 for the copper.
And I’ve been reclaiming every 2×4 from torn-down walls and meticulously stripping out nails so I can reuse the classy old-growth Fir elsewhere. While this may not be time-efficient when new studs are only $2.88, it just feels like the right thing to do when I consider the reduction of trash and the decrease in new material purchases.
I’m also making occasional stops at the recycled building materials store, and the most amazing find so far was a brand new $500 modern-style sink with the “Lowe’s Display” sticker on it, marked down to $100 – including tax. It looks very similar to this one:
Score! A high-bling/high-quality sink for very close to free.
Discounts on Materials
If you go to the Pro desk at Home Depot or another retailer and tell them you are building a house, they will often offer some fine incentives on your larger orders. 10% off, free delivery, and price matching even on obscure items like custom windows from a brand they don’t even carry. In my area, if you have a building permit in hand you can get a reduction in the sales tax rate as well, saving hundreds more.
A Quick Credit Card Hack
To allow easier tracking of the total cost of this project, I decided to open a new, dedicated credit card just for this house. We chose the Chase Sapphire Preferred card because of its ridiculous $400 signing bonus, followed by an ongoing 1% cash back. I also took the opportunity to get a new card for my business (which in turn owns this blog) – the Chase Ink Bold which kicked in another $500*. Both of these cards require a certain amount of spending within the first 90 days to qualify for the bonus, but with house and blog-related spending currently very high, it was an ideal time to do something that is normally a bit of a hassle. With the frugal theme of this project, making the time to scoop another $900 out of the air seemed fitting.
An IKEA Kitchen
The kitchen cabinets are often the most expensive part of a renovation like this, and I have heard a $10,000 cabinet set referred to as “cheap” by my fellow builders. But there is a secret: IKEA sells assemble-it-yourself cabinets that come with top-the-line front finishes and hardware, at less than half the price of special-order or custom cabinets. On top of this, we placed our order during the November kitchen sale for a further 20% discount. Mrs. Money Mustache did most of the design and ordering work, we paid IKEA $144 to hand-pick and deliver our complex order (saving us a 120-mile roundtrip drive and a day of painful shopping) and she is now assembling the cabinets with expert craftswomanship in one of the spare bedrooms. Savings on our rather elaborate kitchen: at least $7,000.
My sketches of the kitchen design. Note the 12-foot-high wall of South-Facing windows above the sink, so I can get a tan while doing dishes in the winter.
Mrs. Money Mustache builds a drawer unit for the new kitchen
DIY, Friends, and Barter
The most obvious cost-saving measure available for homeowners is of course doing most of the work ourselves. “Easier said than done”, is a common refrain among the uninitiated, but “It’s much more fun than it sounds” is what those of us in the know say in response. I had a good handle on most of the trades from past experience, but in a project this large, there is always more to learn.
One of the first projects I dug into, for example, was replacing the whole electrical service of the house. Sure, I had done plugs and switches before, and even wiring runs and breaker boxes. But here I wanted to tear out the antiquated aerial line that dangled ominously across the back yard, entering through a crusty old hole in the shingles to feed a tragic 6-circuit service panel from over half a century ago. This would clean up the appearance of the house, as well as getting wires out of places they should not be, facilitating the upcoming roof framing.
Before: crappy wire dangles right next to back door.
It took some work: I had to coordinate the power company, the building inspector, and the labor of myself, some Mustachians who stopped by to help out on my birthday, and some gracious free advice from an electrician friend I also met through this blog. Research, phone calls, digging a deep 40-foot-long trench, running thick wires through unforgiving PVC conduit, and installing a meter panel on the outside and a breaker panel inside all took me a good several days of hard effort. I had to sledgehammer an 8-foot-long copper grounding rod into solid earth until its head was flush with the soil. But in the end, I learned in intricate detail exactly how to build out an electrical service from the ground up, and saved a few thousand dollars as a secondary reward. Today the power company hooked up my new system for the first time and cut down the old wire. As soon as they left, I plugged my construction radio into one of my brand-new outlets, cranked up the volume, and danced.
After: My spiffy install job is capped by a new digital meter with Zero kilowatt hours on the clock. Ahh, new beginnings.
This project has also provided the opportunity for some enjoyable barter with friends who are also working on their own houses. We exchange work visits with each other, where my electrical knowledge earns credits towards their framing or painting skill.
Early in this project, this group of volunteer Mustachians stopped by to help destroy this room, among other things. (At least I was able to pay them with beers and dinner at my place)
Finally, I accepted a crazy offer from a reader that is a mirror image of the Carpentourism trip I took to Hawaii last winter. An entrepreneurial young guy is driving out from California and showing up here on January 4th – in exchange for free rent, food, and an education in building houses, he will be working alongside me roughly full time during the weeks (and teaching snowboarding in the mountains on the weekends). The idea sounded just ridiculous enough to work, so we’re going for it and it will surely be a winner in all directions.
And that’s just part one. In future episodes of the New House Chronicles, we will cover“Getting Bids and Herding Cats”, “How to Do Anything Yourself”, “Building a Bathroom From Scratch”, “The Radiant Heat at 90% off Experiment”, and many more topics as they come to mind (requests?). This house project is a big and very fun part of my life these days, so you will find it creeping into the pages of MMM as well.
*While I can happily recommend these two cards since I have had good experiences with them myself, do watch out for the annual fee which kicks in after a year (I tend to cancel mine and then repeat the process the following year). Also, once you get the card, go to https://dnmoptions.chase.com/, and un-check all the ridiculous opted-in choices for extra spam. All credit card companies do this, but I have found immediately opting out keeps my snail mailbox blissfully empty. At least the Chase implementation is quick and efficient. See this blog’s credit cards page for more details.
The Big I Bond Letdown Comes With a Silver Lining | SmartAsset.com
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The interest rate on Series I savings bonds bonds for the last six months has been an impressive 6.89%. But investors looking to jump into new issue bonds are in for a letdown. According to the Treasury, the rate for I bonds has reset to 4.3%.
The new annualized rate went into effect May 1 and includes a 0.9% fixed rate and a 1.69% six-month inflation rate. If you’re interested in investing in I bonds or other fixed-income instruments, consider working with a financial advisor.
A Silver Lining to the Lower Interest Rate
Sure, I bonds are now paying less than they were in recent months. But, as always, things could be worse. The new rate is higher than previous estimates that were made based on known inflation data, which had pegged the rate below 4%. On the other hand, the rate paid on I bonds from May to November 2022 was a whopping 9.62%.
As of March, the annualized inflation rate was 5%, down from 6% in February and much lower than the March 2022 rate of 8.5%. The Federal Reserve’s Open Market Committee has forecast inflation for 2023 to come in between 2.8% and 4.1%, with a median prediction of 3.3% for the year.
The I bond rate is made up of two components: a fixed rate set by the Treasury as well as an added inflation rate that’s adjusted with each auction. Once set, the fixed rate is good for the life of the bond, while the inflation rate is adjusted in May and November. Interest is compounded twice per year.
Because of the lifetime fixed-rate component, buying and holding I bonds when inflation is high can be a profitable strategy once inflation drops. I bond holders who bought between May and November 2001 maintain a fixed rate of 3%, giving them an annualized rate of 6.43% for the next six months.
The highest rate being paid now on previously issued I bond is 7.04% for bonds purchased between May and November 2000. The lowest return is 3.38% being paid on several issues of bonds made when inflation and interest rates were low, with the fixed rate at 0%.
How to Buy I Bonds
Individual investors can buy up to $10,000 worth of I-bonds each calendar year, as well as an additional $5,000 in paper I-bonds using their tax refund, which they can then convert to their digital account.
I bonds can be purchased only from the TreasuryDirect.gov website. Buyers need to create an account, a process many investors have criticized as complicated and clunky. Besides your personal information, you’ll need to enter your bank account and routing numbers, along with setting up a password and security questions. The bonds are issued electronically, and the minimum purchase amount is $25.
Investors can purchase up to another $5,000 in paper bonds using their federal income tax refunds, or $10,000 for a couple filing jointly. The purchase can be made only when you file your return, using IRS Form 8888, Allocation of Refund.
I bonds can be purchased for children by setting up a “minor account” linked from the purchaser’s own TreasuryDirect account. The account is custodial and can be accessed only by the purchaser. I-bonds also can be purchased as a gift for anyone with a Social Security number, as long as the total of bonds purchased and credited to that Social Security number doesn’t exceed $10,000 that year.
Interest income from the bonds is credited to the value of the bond, rather than being directly paid out to the bondholder. Interest is tax-free at the state and local level but is taxable on your federal income tax return. The tax can be paid when the bonds are redeemed or as the interest is credited during the life of the bond. Bonds sold to pay for qualified educational expenses can be redeemed tax-free.
Bottom Line
The rate on new I bonds is lower than the previous issue but still higher than expected. The base rate is higher than before giving investors additional returns if they hold the bonds during periods of lower interest rates.
Tips for Investing in I Bonds
If you’re unsure how much of your portfolio should be devoted to bonds, use our asset allocation calculator. Based on your risk tolerance, this free tool will provide a recommendation for how much of your portfolio should be kept in stocks, bonds and cash.
A financial advisor can help integrate I-bonds into your portfolio. Finding a financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three vetted financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
The rise of cryptocurrencies has led to a significant shift in the financial landscape. As crypto gains popularity, many financial institutions are adapting to this change by offering specialized banking services to accommodate crypto transactions.
This article explores the best crypto-friendly banks, explaining why they are considered top choices in the ever-evolving crypto space.
15 Best Crypto-Friendly Banks
Here are the top crypto-friendly banks and banking services providers, each offering a unique set of services tailored to the needs of cryptocurrency enthusiasts.
1. Cash App
Among its many features, Cash App allows users to buy Bitcoin and instantly withdraw funds to personal wallets.
Partnerships with banks such as Sutton Bank and Lincoln Savings Bank enable Cash App to provide banking services. This collaboration between Cash App and crypto-friendly banks ensures that customers have a convenient and secure way to manage their crypto transactions.
Sutton Bank also issues the Fold Visa® Prepaid Card, which allows you to earn Bitcoin on every purchase.
See also: How Does Cash App Work?
2. Revolut
Revolut is a UK-based fintech company that was founded in 2020. It has quickly become a major banking player in the UK, Europe, and the US, as well as a top crypto-friendly bank. Their user-friendly mobile app lets customers easily buy cryptocurrencies like Bitcoin and manage their digital assets. The app also features automatic buy orders that activate based on certain market conditions, making the crypto investment process even smoother.
What sets Revolut apart from competitors is the variety of crypto-related services they offer. Customers can stake select crypto assets, make off-chain transactions between users, and pay bills using crypto through automatic conversion to fiat currency.
With over 50 cryptocurrencies on the platform and plans to expand, Revolut is dedicated to staying ahead in the digital currency world. Although there are transaction fees for crypto payments, users can reduce these fees with account upgrades. Revolut’s upcoming launch of its native coin, RevCoin, highlights their commitment to providing a diverse and dynamic crypto banking experience for their growing customer base.
3. Quontic
Quontic is the first online bank to offer a rewards checking account that allows you to earn Bitcoin. With its innovative Bitcoin Rewards Checking account, users can easily integrate crypto into their everyday banking experience. Quontic only supports Bitcoin. However, its unique offering makes it a top choice for those looking to capitalize on the increasing prominence of digital currencies.
The Bitcoin Rewards Checking account offered by Quontic stands out due to its 1.50% rewards on all Point of Sale (POS) transactions made with the associated debit card. These rewards are paid out in Bitcoin, allowing users to accumulate the popular cryptocurrency as they make everyday purchases. Furthermore, the account acts as a secure wallet for users to store their Bitcoin, providing a seamless banking experience for crypto enthusiasts.
This FDIC-insured bank account requires a minimum opening deposit of $500 and is not available in Hawaii and North Carolina.
4. SoFi
SoFi is an innovative financial institution that has embraced the crypto revolution. Through its SoFi Invest platform, customers can trade crypto and access educational resources to learn about digital currencies.
With just a $10 minimum investment, users can start trading Bitcoin, Ethereum, Dogecoin, Cardano, and over 20 other coins on a platform available 24/7. Users can trade cryptocurrencies alongside stocks, fractional shares, and ETFs within the SoFi app, making it an all-in-one investment platform.
SoFi takes security seriously and offers a range of tools to protect your crypto holdings from theft. These include two-factor authentication, SSL encryption, partnering with trusted exchanges like Coinbase for transactions, and not sharing personal information with trading partners or custodians. This ensures that your investments are safe and secure on the platform.
The SoFi app also provides a wealth of educational resources, such as their Crypto Guide for Beginners, Crypto Glossary, and Guide to Crypto Staking, to help you make informed investment decisions. Keep in mind that due to its volatility, crypto carries a higher degree of risk compared to traditional investments.
Crypto trading on SoFi Invest is subject to a 1.25% markup on crypto transactions, which is added to the market price from the exchange. While there are no plans to allow transfers between SoFi Invest accounts and external wallets at this time, the platform’s focus on security and convenience makes it an attractive option for those interested in trading crypto.
5. Vast Bank
Vast Bank has made history as the first full-service national bank to provide customers with the ability to buy, sell, and hold cryptocurrencies. Through an intuitive mobile banking app, users can access both a checking account with a competitive 2.65% annual percentage yield (APY) and a dedicated crypto account.
As a nationally chartered and federally regulated U.S. bank, Vast Bank ensures a high level of security and reliability for its customers. By using the Vast Crypto Banking app, users can easily deposit USD into their checking account, purchase cryptocurrencies, and safely store their crypto alongside their fiat funds.
This crypto bank currently supports a wide range of popular cryptocurrencies. Among them are Bitcoin (BTC), Ethereum (ETH), Filecoin (FIL), Cosmos (ATOM), Chainlink (LINK), Cardano (ADA), Litecoin (LTC), Aave (AAVE), Bitcoin Cash (BCH), Orchid (OXT), Tezos (XTZ), and Algorand (ALGO).
Vast Bank offers the convenience and safety of traditional banking, such as FDIC insurance for checking accounts, a debit card with access to 56,000 free ATMs worldwide, account transfers, bill pay, and mobile deposits. However, it is important to note that digital assets held in the crypto account are not insured by any government entities, including FDIC or SIPC.
6. Wirex
Wirex is a standout in the world of crypto-friendly banks, offering users a seamless banking experience that supports both fiat currencies and cryptocurrencies. Available in 130 countries and boasting over 3.5 million users worldwide, Wirex provides a multi-currency account and a Visa card for convenient fiat payments.
One of the main attractions of Wirex is its generous savings interest rates, which reach up to 6% for cryptocurrencies such as BTC, ETH, and LTC. For those who prefer to save in fiat currencies like USD, AUD, HKD, or DAI, an impressive 12% interest rate is available. Additionally, users can earn an extra 4% interest when saving in WXT, Wirex’s native token.
Built on both Ethereum and Stellar blockchains, WXT offers exceptional performance and versatility within the decentralized finance (DeFi) sector. Wirex rewards its users with up to 4% WXT cashback each time they use their card for in-store or online purchases. The multicurrency card allows for hassle-free payments when traveling abroad, automatically converting to the local currency with no exchange fees, and offering savings of up to 3% on international transactions.
Beyond being a Bitcoin-friendly bank, Wirex offers a wallet app that supports over 100 coins and includes DeFi and NFT capabilities. This combination of features makes Wirex an excellent choice for those seeking a comprehensive and crypto-friendly banking experience.
7. Ally Bank
Ally Bank is an online bank that has embraced the crypto revolution, offering an array of services to support digital assets. Some notable features from Ally’s website include:
Crypto trusts: Ally offers private trusts that invest in and track the price of specific cryptocurrencies, allowing customers to indirectly trade them as they would a stock.
Bitcoin futures: Ally provides access to exchange-traded funds (ETFs) that invest in the purchase of bitcoin futures contracts. This allows customers to gain exposure by speculating on the future price of Bitcoin without directly owning it.
Crypto stocks: Ally enables customers to invest in publicly traded companies that buy and hold cryptocurrency. Buying shares of these stocks provide indirect exposure to crypto.
Ally Bank’s crypto trading services on the Ally Invest platform, integration with popular cryptocurrency exchanges, and digital asset storage and management make it a top choice for crypto enthusiasts seeking a crypto-friendly bank.
8. BankProv
BankProv is a forward-thinking US financial institution that provides a range of services, including business banking, cash management, personal banking, and cryptocurrency offerings. Embracing modern technologies, this crypto bank utilizes API banking, the ProvXchange network, and specializes in lending.
Its support for various digital assets ensures that customers can access a diverse range of investment options, making it a strong contender among crypto banks. Customers can enjoy real-time transactions through the ProvXchange network, while the API integration allows for seamless interaction with various platforms and software solutions.
BankProv provides crypto-backed loans and credit lines for organizations secured by Bitcoin or Ether, as well as equipment and infrastructure loans for crypto mining operations. Additionally, Bitcoin ATM operators can take advantage of secure cash vault services, expedited money transfers, and other perks tailored to businesses operating within the crypto sector.
9. Juno
Established in 2019, Juno is a fintech company offering a digital banking platform with hybrid accounts for managing both cash and cryptocurrencies. Despite not being a traditional bank, Juno’s exceptional services make it a top contender for cryptocurrency investments.
Juno enables users to purchase a range of popular cryptocurrencies without fees, and provides two types of checking accounts: Basic and Metal. The Basic account is free with a $5,000 daily funding limit, while the Metal account, free with monthly qualifying deposits of $250 or more, offers a $25,000 daily limit and up to six times higher savings.
Bonus rewards are a highlight of Juno’s offerings, with users earning up to 5% on cash deposits and yearly cashback for payments with cash or crypto. The JCOIN Loyalty Program allows customers to earn tokens and redeem them for exclusive discounts and cashback boosts. New users can benefit from a welcome offer, which includes bonuses for initial deposits, trades, and referrals.
Free cash withdrawals are available at Allpoint and MoneyPass® ATMs, with additional out-of-network withdrawals for both account types. Juno’s mobile banking app is compatible with iOS and Android, supporting Apple Pay, Google Pay, Samsung Pay, and debit cards. The platform also offers the unique feature of converting paychecks into crypto through partnerships with over 500 payroll providers, allowing users to automate their investments seamlessly.
10. Monzo
Monzo is an innovative online-only bank that has gained popularity in the UK for its modern approach to banking. More recently, Monzo has expanded its services to accept applications from US customers, broadening its reach in the financial market.
With a Monzo account, customers can manage all their bank accounts, including non-Monzo accounts, on a single dashboard through the Monzo app. While the bank itself does not support crypto trading, users can still invest their Monzo account funds into cryptocurrencies through crypto exchanges like Coinbase and Crypto.com. This feature provides Monzo users with indirect exposure to cryptocurrency while still enjoying the convenience and security of a modern bank.
11. Axos Bank
Axos Bank, a crypto-friendly institution, started providing its commercial banking clients with TassatPay access in May 2022. TassatPay is a private, permissioned blockchain-based digital payments platform that enables 24/7 real-time payment capabilities and has processed over $400 billion in transactions. This platform is endorsed by a primary bank regulator.
Axos also offers exposure to various crypto-related exchange-traded funds (ETFs). These include the Bitwise 10 Crypto Index Fund (BITW), Bitwise Crypto Industry Innovation ETF (BITQ), ProShares Bitcoin Strategy ETF (BITO), and ProShares Short Bitcoin Strategy ETF (BITI), among others.
12. Standard Chartered Bank
Standard Chartered Bank has demonstrated a strong interest in cryptocurrencies and blockchain technology, regularly conducting research and sharing insights on digital currencies. Recognizing the growing demand in the market, Standard Chartered is launching a crypto exchange and brokerage service to provide its customers with access to digital assets.
The bank’s direct crypto trading and investment services are still in development. However, their commitment to staying informed about the latest trends in the digital currency market and taking steps to launch new services indicates their growing involvement in the crypto space.
13. USAA
USAA, a financial institution dedicated to serving current and former military personnel and their families, provides a range of tailored financial products and services. Among these offerings is an integration with Coinbase, a leading cryptocurrency exchange.
Through this partnership, USAA customers can conveniently link their Coinbase accounts to their USAA portal, enabling them to easily monitor their digital asset balances and track transactions. This feature streamlines the process of staying informed about one’s cryptocurrency holdings and activity, offering an added layer of convenience for USAA members.
14. Fidor
Fidor is a pioneering online bank headquartered in Munich, Germany. It offers innovative banking services designed to support digital assets. Its integration with popular cryptocurrency exchanges and crypto wallet services makes it an ideal choice for those looking for a crypto-friendly bank. Additionally, Fidor provides support for ICO and token sales, giving customers access to new and emerging cryptocurrencies.
15. PayPal
Although PayPal is not a bank, it offers various banking services and has expanded its support for cryptocurrency in recent years. PayPal enables users to buy, sell, and hold cryptocurrencies such as Bitcoin, Ethereum, and Litecoin.
By partnering with Paxos Trust Company, a regulated provider of cryptocurrency products and services, PayPal ensures a secure and compliant experience for its customers. While it does not offer the full range of services that traditional banks do, PayPal’s support for crypto makes it an appealing choice for those who want to manage their cryptocurrencies alongside other financial transactions.
Bottom Line
The increasing popularity of cryptocurrency has led to a growing number of crypto-friendly banks, offering a range of services to accommodate the unique needs of digital asset users. These banks provide an array of services, from crypto trading and custody to debit cards and loans backed by crypto.
As the crypto industry continues to evolve, it’s crucial to stay informed and choose the best crypto-friendly bank to suit your needs. With so many crypto-friendly banks available, you can now manage your crypto alongside traditional banking services, providing a seamless and efficient way to navigate the world of cryptocurrencies.
Frequently Asked Questions
What makes a bank crypto-friendly?
A crypto-friendly bank is one that supports and facilitates cryptocurrency transactions, storage, and trading. These banks typically offer a range of services tailored to the needs of digital asset users, such as integration with popular crypto platforms, crypto-backed loans, and the ability to spend crypto using a debit card.
Can I store my cryptocurrencies in a traditional bank account?
While some banks offer crypto-friendly services, cryptocurrencies are typically stored in digital wallets rather than traditional bank accounts. However, many crypto-friendly banks provide integration with popular crypto wallets and exchanges, allowing you to manage your crypto alongside your fiat currency.
Are crypto-friendly banks safe and secure?
Many crypto-friendly banks are FDIC-insured and follow strict regulatory requirements to ensure the security of your assets. It’s essential to research each bank’s security measures, such as two-factor authentication, encryption, and secure storage of crypto before choosing a crypto-friendly bank.
How do I choose the best crypto-friendly bank for my needs?
To choose the best crypto-friendly bank for your needs, consider the range of services offered, the bank’s reputation, and any fees associated with their services. You may also want to look for banks that provide educational resources, customer support, and a user-friendly platform for managing your crypto.
Can I use a debit card to spend my cryptocurrencies?
Some crypto-friendly banks and financial service providers offer debit cards that allow you to spend your crypto just like traditional fiat currency. These cards typically convert your cryptocurrencies to the local currency at the point of sale, making it convenient to use crypto for everyday transactions.
Do crypto-friendly banks offer loans and credit products?
Some crypto-friendly banks offer crypto-backed loans and lines of credit. These products allow you to leverage your crypto without selling it, providing greater financial flexibility for crypto users.
An impressive number of online banks offer relatively high yields on savings accounts, money market accounts, and even checking accounts. Yes, even when interest rates are low.
And everyone needs a checking account. Why not choose one with a yield that rivals the best high-yield savings accounts?
Best High-Yield Checking Accounts
Many of these high-yield checking accounts are on our roundups of the best free checking accounts and best checking accounts with monthly maintenance fees. If you hate monthly service fees, know that most banks happily waive those fees when you meet minimum balance or monthly transaction requirements.
Wealthfront Cash Account
Our Rating
The Wealthfront Cash Account earns 4.30% APY on all balances — one of the best cash account yields on the market. It links seamlessly with Wealthfront’s other core product, a low-cost robo-advisor.
Account APY
Minimum Balance
Monthly Fee
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Wealthfront pairs a low-cost investment management solution with an excellent high-yield checking account, the Cash Account.
The Wealthfront Cash Account has a virtually nonexistent minimum opening deposit, high yields on all balances, no account fees, and a great lineup of value-added features, including Self-Driving Money™.
Self-Driving Money™ is a powerful money management automation tool that effortlessly allocates deposits among near-term expenses, variable-term savings goals, and longer-term investment objectives, all while making sure your emergency fund is topped up and you’ve got enough left over to enjoy life.
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Aspiration Spend & Save
Our Rating
Get up to 3.00% APY on the first $10,000 in your account and earn up to 10% back on purchases with select Aspiration partners.
Account APY
Up to 3.00% APY on the first $10,000
Minimum Balance
Monthly Fee
$0 for a standard account, $7.99 for Aspiration Plus
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Aspiration Spend & Save is two accounts in one:
Aspiration Debit, a rewards checking account that pays up to 10% back on eligible purchases with Conscience Coalition partners, companies that have committed to helping the planet (and caring more about their bottom line in the process).
Aspiration Save, a high-yield savings account that links seamlessly to Aspiration Debit and earns up to 3.00% APY on the first $10,000 in the account.
You need to pay $7.99 per month for an Aspiration Plus membership to earn 10% back and 3.00% APY. Otherwise, cash back maxes out at 5% and your yield is 1.00% APY on the first $10,000.
The Aspiration Save Account’s up to 3.00% Annual Percentage Yield (“APY”) is variable, subject to change, and only available to customers enrolled in Aspiration Plus after conditions are met. Customers not enrolled in Aspiration Plus receive 1.00% APY after conditions are met. The Aspiration Spend & Save Accounts are cash management accounts offered through Aspiration Financial, LLC, a registered broker-dealer, Member FINRA/SIPC, and a subsidiary of Aspiration Partners, Inc. (“Aspiration”). Aspiration is not a bank.
Go2Bank
Our Rating
Earn up to 7% cash back when you buy eGift cards in the app. Plus, earn 4.50% APY paid quarterly on savings balances up to $5,000.
Account APY
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$5, waived with direct deposit
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GO2Bank combines a rewards checking account and a high-yield savings account into one package. The savings side has an impressive yield on the first $5,000 (4.50% APY), while the checking side pays up to 7% cash back on eligible electronic gift card purchases (GO2Bank calls them “eGift cards”) made in the app.
GO2Bank does have a monthly maintenance fee, but it’s waived with any qualifying direct deposit. Another highlight: the option to deposit cash at more than 90,000 retail locations nationwide.
Active GO2Bank account required to receive an eGift Card. eGift Card merchants subject to change
GO2Bank, Member FDIC. Interest paid quarterly on the average daily balance of savings during the quarter up to a $5,000 balance and if the account is in good standing. 4.50% Annual Percentage Yield (APY) as of April 2023. APY may change before or after you open an account. The average national savings account interest rate of 0.05% is determined by the FDIC as of 12/14/20. Visit https://www.fdic.gov/regulations/resources/rates/ to learn more. Fees on your primary deposit account may reduce earnings on your savings account.
Direct deposit early availability depends on timing of payor’s payment instructions and fraud prevention restrictions may apply. As such, the availability or timing of early direct deposit may vary from pay period to pay period. The name and Social Security number on file with your employer or benefits provider must match your GO2Bank account exactly or we will decline your deposit.
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Signature Federal Credit Union might not be as well-known as banking giants like Citi and Chase, but its high-yield checking account is definitely worth going out on a limb for.
Meet the qualifying activity requirements each month and you can earn 4.00% APY on balances up to $20,000. That’s many times higher than the national checking account average.
To qualify for the advertised yield in any given statement cycle, do all of the following:
Receive a direct deposits totaling $1,000 or more.
Enroll in electronic statements.
Use your debit card to make at least 15 eligible purchases online or in person.
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M1 Spend
Our Rating
Earn 3.30% APY with no minimum balance when you upgrade to M1 Plus. Additional benefits include 1% cash back on debit purchases and up to 10% back on credit card purchases.
Account APY
Minimum Balance
Monthly Fee
$125 per year to earn interest (after year one)
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M1 Spend is a free cash management account from M1 Finance, a digital banking, investing, and lending platform. But if you want to earn interest on your M1 Spend balances, you need to upgrade to M1 Plus, which costs $125 after the first year.
It’s worth upgrading. In addition to 3.30% APY on all M1 Spend balances, M1 Plus gets you 1% cash back on debit card purchases and up to four ATM fee reimbursements each month. And that’s just on the checking side — M1 Plus comes with investing and borrowing benefits too.
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Quontic High Interest Checking
Our Rating
Earn 1.10% APY on eligible balances when you make at least 10 qualifying transactions in a statement period. Plus, enjoy fee-free access to more than 90,000 ATMs across multiple networks in the United States.
Account APY
Minimum Balance
Monthly Fee
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Quontic High Interest Checking is a free checking account with an attractive yield for anyone able to clear the relatively low qualifying activity bar: making 10 or more qualifying debit card point-of-sale transactions valued at $10 or more within the statement cycle. Do this and you’ll earn 1.10% APY on all balances.
Note that Quontic used to limit interest payments to the first $150,000 in the account. This restriction has been void for a while, but there’s always the chance it could come back.
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Nationwide Advantage Checking
Our Rating
Earn up to 0.90% APY with qualifying activities — $1,000 or more in total direct deposits and at least 10 transactions per month.
Account APY
Up to 0.90% APY
Minimum Balance
Monthly Fee
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Nationwide Advantage Checking has much in common with other interest checking accounts, albeit with a slightly less generous upper yield tier than some.
In any given month, complete qualifying direct deposits (at least $1,000 total) and transaction requirements (at least 10 of $3 or more) to earn 0.90% APY (variable with prevailing rates). Do one or the other to earn half the advertised yield — and enjoy no monthly maintenance fees and expansive ATM network access even if you can’t do either.
One catch: The debit card transactions must occur in-person to qualify. So early in the month, focus on those types of transactions rather than online purchases until you clear 10.
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Methodology: How We Select the Best High-Yield Checking Accounts
We evaluated dozens of checking accounts to build this list. We considered several key variables along the way. The accounts that made the final cut scored well on most or all of them.
Account Yield (Interest Rate)
Remember, these are high-yield checking accounts we’re talking about. Yield is a key selling point for the banks marketing them, which is why it’s the most important factor in our analysis.
Monthly Fee & Waiver Options
The best high-yield checking accounts are either truly free, meaning they don’t charge monthly fees under any circumstances. Unfortunately, truly free checking accounts aren’t as common as they used to be, so we make exceptions for accounts that make it easy to get monthly fees waived with a qualifying direct deposit or clearing a reasonable minimum balance.
Bonuses and Rewards
The best high-yield checking accounts tend to offer sign-up bonuses for new account holders, rewards programs that pay you back for eligible purchases, or both. It’s not a deal-breaker when high-yield checking accounts lack these features, but all else being equal, we prefer that they do.
Balance Requirements & Limits
We believe you shouldn’t have to save up a fortune to benefit from a high-yield checking account. Most of the accounts on this list have no minimum balance or very low minimum balances. A few do have maximum balances to earn interest, but those are high enough not to impact most users.
ATM Access
Cash is less and less common these days, but ATM access is still important for many checking account users. And we believe you shouldn’t have to pay a fee to get your money. This is why, all else being equal, we prefer high-yield checking accounts with big fee-free ATM networks.
Geographic Availability
Some high-yield checking accounts have geographic restrictions, either because you have to open them in a branch or the banks offering them simply don’t operate in certain states. We exclude accounts with strict geographic restrictions and prefer 50-state coverage when possible.
High-Yield Checking FAQs
Choosing a checking account isn’t as simple as it sounds. You’ll almost certainly have some questions as you get into it, so we’ve preemptively answered some of the most important.
How Much Interest Do High-Yield Checking Accounts Pay?
It depends on the bank’s policy and prevailing interest rates. However, a good rule of thumb is that the best high-yield checking accounts pay interest on par with the top high-yield savings accounts.
Are There Any Requirements to Earn Interest?
Some high-yield checking accounts attach no strings at all to interest payments, but many do. The most common requirements include:
Setting up and maintaining a qualifying direct deposit
Meeting a monthly transaction minimum
Meeting a monthly or daily minimum balance
What’s the Maximum Balance to Earn Interest?
Many high-yield checking accounts pay interest on all balances, which is ideal if you keep a big financial buffer in your checking account. Others cap interest payments though. Usually, the cap is relatively high — $5,000 or more.
How Much Do High-Yield Checking Accounts Cost?
Ideally, nothing. And the best high-yield checking accounts are indeed free checking accounts. For accounts that do charge a monthly maintenance fee, we prefer easy waiver options, such as any direct deposit or a low minimum balance ($500 or below).
Are High-Yield Checking Accounts Actually Savings Accounts?
Sometimes. The line between checking and savings is blurrier these days because many banks and financial technology apps package checking and savings products into the same digital interface. Several of the accounts on this list are package deals.
Final Word
Like mortgage rates and CD yields, checking account yields rise and fall as benchmark interest rates change.
During periods of economic uncertainty, when benchmark rates tend to be more volatile, these changes can occur with disorienting frequency. The yield you expect on that shiny new online checking account might not be the yield you actually receive.
The silver lining is that competition for new checking account customers remains fierce, especially among online banks and smaller brick-and-mortar institutions without household name status.
That means checking account yields will continue to entice new account holders, wherever interest rates go and irrespective of what happens on the savings account front.
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Brian Martucci writes about credit cards, banking, insurance, travel, and more. When he’s not investigating time- and money-saving strategies for Money Crashers readers, you can find him exploring his favorite trails or sampling a new cuisine. Reach him on Twitter @Brian_Martucci.
Panic selling is when a large number of investors want to sell their holdings at the same time and it creates a drop in prices. That drop scares other investors into selling, which causes prices to fall still further, which frightens more investors, and so on.
The resulting panic can erase vast amounts of wealth. It can take weeks or even years for the markets to recover from a serious panic-selling event.
For years, the popular advice on panic selling for most investors was simple: Don’t panic. The logic being that over time, and through major financial crises, the equity markets have tended to rebound and rise.
But even if an individual investor resists the urge to sell, a bout of panic selling in the markets could still have an impact on their wealth, and their plans. The more an investor knows about panic selling, the more informed they will be when and if panic sets in.
Panic Selling and Stock Market Crashes
Stock markets — and the market for anything from housing to basic commodities — go down when there are more people selling than buying. And sometimes in the stock markets, the sellers outnumber the buyers to such a degree that sellers panic and are willing to take almost any price to get cash for their investment.
When panic grips enough investors, the markets can crash.
Recommended: What Is Active Investing?
Throughout the history of every kind of market, panic occasionally sets in. Sometimes it’s a major global event that sets it off, like what happened with the stock markets in March of 2020 as the global COVID-19 pandemic picked up speed and countries entered lockdown.
Other times, it’s a matter of a given asset — like housing and real estate in 2008 — being bid up to unrealistic levels, followed by the mass consensus of what it’s worth changing seemingly overnight. The history of U.S. recessions is full of these highly emotional market changes.
What Causes Panic Selling?
While panic is a very human response to the prospect of major financial loss, there are also other factors that can trigger investors to start panic-selling stocks, including: margin calls, stop-loss orders, and algorithms.
Panic Selling and Margin Calls
In the Great Crash of 1929, there were many investors who had borrowed heavily to invest in the stock market. When the markets dropped, they received something known as a margin call, requiring that they pay back the loans they took out to invest.
Those margin calls required that they sell potentially even more stock to pay back the loans, which caused the markets to fall even further.
Panic Selling and Stop-loss Orders
Similarly, there are trading programs that can throw fuel on the fire of a bout of panic selling. These can be as simple as a stop-loss order, a standing order to buy or sell a particular security if it ever reaches a predetermined price, which investors commonly use in their brokerage accounts.
A stop-loss order can be a way to take advantage of price dips to buy a stock at a discount. But during a sudden drop in the markets, stop-loss orders often lead to automatic sales of stocks, as investors try to lock in their gains.
These automatic sales — in large enough numbers, can accelerate the decline in a market, and contribute to the panic.
Panic Selling and Algorithms
There are algorithms employed by major financial institutions and professional investors that will automatically sell if the price of a given stock falls to a certain level. The crash of 1987 was caused in part by some of the first computerized trading programs.
And in 2010, one trader who lost control of his highly sophisticated trading software was responsible for the “flash crash,” which caused roughly a trillion dollars of market capitalization to disappear in under an hour.
The system-wide risk presented by these tools is one reason that most major stock exchanges have installed a series trading curbs and “circuit breakers” in place to slow down panic selling and give the traders who use these programs to recalibrate them before a full-fledged selling spree can run out of control.
The Risks of Panic Selling
When markets drop suddenly, it can be scary for investors. And one of the biggest risks may be to give into that fear, and join in the selling.
But one thing to remember is that markets go up and down, but an investor only loses money when they sell their holdings. By pulling their money out of the stock market, an investor not only accepts a lower price, but also removes the chance of participating in any rebound.
Loss is a big risk of panic selling. People who invest for goals that are years or decades away can likely weather a panic. But if a person is investing for retirement, a sudden panic just before they retire can create a major problem, especially if they were planning to live off those investments.
The danger of sudden, panic-driven drops in the market is one reason it makes sense for investors to review their holdings on a regular basis, and adjust their holdings away from riskier assets like stocks, toward steadier assets like bonds, as they get nearer to retirement.
That risk is also why most professionals recommend people keep 6-12 months of expenses in cash, in case of an emergency. That way, even if a financial crisis causes a person to lose their job, they can stay in the market. It’s a way to protect their long-term plans from being jeopardized by everyday expenses.
Finding Opportunities in Panic Selling
During a panic, there are typically enough scared people making irrational decisions to create valuable buying opportunities. The stock-market crashes in 1987 and in 2008, for instance, were each followed by a decade in which the S&P 500 rewarded investors with double-digit annual returns. (As always, however, past performance is no guarantee of future success.)
The problem is that there’s no way to know when a panic has reached its end, and when the market has fallen to its bottom. Professional traders with complex mathematical models have had mixed results figuring out when a market will rebound. But for most investors — even savvy ones — it’s a guessing game at best.
There are two ways an investor can try to take advantage of a bout of panic selling:
1. The first is not to panic.
2. The other is to keep investing when the market is down, while stocks are selling for much lower prices.
Dollar Cost Averaging
One way to take advantage of panic selling is with dollar cost averaging. With this long-term plan, an investor buys a fixed dollar amount of an investment on a regular basis — say, every month. It allows an investor to take advantage of lower purchase prices and limits the amount they invest at when valuations are higher. As such, it’s a strategy for all seasons — not just during a panic. Most investors already employ some form of dollar-cost averaging in their 401(k) plans.
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The Takeaway
Steep drops in the stock market are usually headline news. The causes aren’t always clear or easy to understand. So it makes sense that a sudden drop in the markets can cause even seasoned investors to make mistakes. This is a real risk. But it can also create opportunities.
That’s why it’s important for investors to revisit their financial plan regularly, to make sure they can weather the storm, and still be on track to reach their goals — even if a market decline means they have to take a few steps back.
Ready to invest in your goals? It’s easy to get started when you open an Active Invest account with SoFi invest. You can invest in stocks, exchange-traded funds (ETFs), and more. SoFi doesn’t charge commissions, but other fees apply (full fee disclosure here). Members can access complimentary financial advice from a professional.
For a limited time, opening and funding an account gives you the opportunity to win up to $1,000 in the stock of your choice.
SoFi Invest® The information provided is not meant to provide investment or financial advice. Also, past performance is no guarantee of future results. Investment decisions should be based on an individual’s specific financial needs, goals, and risk profile. SoFi can’t guarantee future financial performance. Advisory services offered through SoFi Wealth, LLC. SoFi Securities, LLC, member FINRA / SIPC . SoFi Invest refers to the three investment and trading platforms operated by Social Finance, Inc. and its affiliates (described below). Individual customer accounts may be subject to the terms applicable to one or more of the platforms below. 1) Automated Investing—The Automated Investing platform is owned by SoFi Wealth LLC, an SEC registered investment advisor (“Sofi Wealth“). Brokerage services are provided to SoFi Wealth LLC by SoFi Securities LLC, an affiliated SEC registered broker dealer and member FINRA/SIPC, (“Sofi Securities).
2) Active Investing—The Active Investing platform is owned by SoFi Securities LLC. Clearing and custody of all securities are provided by APEX Clearing Corporation.
3) Cryptocurrency is offered by SoFi Digital Assets, LLC, a FinCEN registered Money Service Business.
For additional disclosures related to the SoFi Invest platforms described above, including state licensure of Sofi Digital Assets, LLC, please visit www.sofi.com/legal.
Neither the Investment Advisor Representatives of SoFi Wealth, nor the Registered Representatives of SoFi Securities are compensated for the sale of any product or service sold through any SoFi Invest platform. Information related to lending products contained herein should not be construed as an offer or prequalification for any loan product offered by SoFi Bank, N.A. 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. Claw Promotion: Customer must fund their Active Invest account with at least $10 within 30 days of opening the account. Probability of customer receiving $1,000 is 0.028%. See full terms and conditions. SOIN0423037