Goldman Sachs and Barclays are nearing a deal that would see the GM card portfolio to move to Barclays for $2 billion in a discounted deal according to Bloomberg. In early 2023 it was reported that Goldman Sachs would stop bidding for new card portfolios and in late 2023 it was announced Apple would be cutting ties with Goldman Sachs. Goldman Sachs is expected to take a $400 million dollar hit on the deal according to CEO David Solomon.
Lately, savings accounts have been paying a pretty solid return. Companies like Capital One and Discover have been offering over 4% APY.
It’s not necessarily free money, given the high rate of inflation, but it’s been one way to keep your dollars from eroding in value versus just putting them in a bank account earning a measly 0.01%.
When savings rates began to rise a few years ago, I started to make my mortgage payments later in the month.
The logic was that I could earn more interest on my money if I kept more of it in a savings account for a longer amount of time.
While maybe not a massive amount of money, still more money.
You Don’t Get Any Savings by Paying on the 1st of the Month
First a quick overview. Mortgage payments are typically due on the first of the month, but not actually late until 15 days later.
In other words, most loan servicers will give you a grace period to pay any time between the first of the month and the 15th without penalty.
So while “technically due” on the first, it’s not actually late until the 16th. I never looked into why they do this, but this tends to be the universal rule (always check with your bank/servicer to be sure!).
And because most mortgages in the United States are simple interest and calculated monthly, it doesn’t matter when you pay in terms of interest charges.
If you pay on the first every month, you won’t save money on mortgage interest versus paying on the fifth or the 15th.
The amount of interest due is already determined and you’re simply making a payment for the prior month’s interest.
In short, there is no benefit to paying early in the month vs. mid-month. This isn’t the case for HELOCs, which are calculated daily.
You Could Get Savings by Paying Mid-Month
While you won’t see any interest savings by making mortgage payments early in the month, you could see savings if you wait until closer to mid-month.
As noted, many savings account pay 4% or more at the moment.
If your mortgage payment is say $3,000 per month, you could arguably keep that money in your high-yield account until the 13th.
That would give you another couple weeks of earnings at whatever the yield is, say 4%. And that would mean a higher interest payout at the end of the month in your savings account.
While it might not be a ton of money, it can add up, especially if you have larger mortgage payments and/or multiple payments to make.
The interest will also compound over time and make it even more valuable the longer you do this.
This is why I often pay my mortgage closer to the 15th of the month. They say every little bit helps.
Pay Other High-Rate Debt Early in the Month Instead
What if you carry other, higher-interest rate debt that accrues interest daily, such as a credit card?
Many Americans have revolving credit card debt that isn’t paid off in full each month. As a result, interest accrues every day on the outstanding balance.
Obviously, you should strive to pay the balance in full by the due date each month so this isn’t the case and you get a “grace period.”
But if this isn’t feasible, you could argue to pay as much toward that balance (or balances) as early as possible to reduce the interest expense.
Then just be sure to pay the mortgage before the due date.
In this scenario, you’re essentially allocating money toward the debt that is actually costing you more money each day.
The mortgage interest due is the same whether paid on the first or 15th, so there’s no advantage to paying it sooner.
The one caveat here is to make sure your payment clears on time. That’s why I usually pay on the 12th or 13th to ensure there isn’t a delay or something.
If there is, you could be charged a sizable late fee. But note that mortgages aren’t considered delinquent until 30 days past the due date, at which point it could be communicated to the credit bureaus.
The takeaway here might be to remember that there’s no benefit to paying a mortgage early in the month, but there could be a big benefit to paying other debt early, like a credit card or HELOC.
However, you can still pay off your mortgage early if you choose, but that involves making additional payments to the principal balance, beyond the regular payment due.
And doing so early on in the loan term can actually save you more.
(photo: Vanessa)
Before creating this site, I worked as an account executive for a wholesale mortgage lender in Los Angeles. My hands-on experience in the early 2000s inspired me to begin writing about mortgages 18 years ago to help prospective (and existing) home buyers better navigate the home loan process. Follow me on Twitter for hot takes.
Lately, savings accounts have been paying a pretty solid return. Companies like Capital One and Discover have been offering over 4% APY.
It’s not necessarily free money, given the high rate of inflation, but it’s been one way to keep your dollars from eroding in value versus just putting them in a bank account earning a measly 0.01%.
When savings rates began to rise a few years ago, I started to make my mortgage payments later in the month.
The logic was that I could earn more interest on my money if I kept more of it in a savings account for a longer amount of time.
While maybe not a massive amount of money, still more money.
You Don’t Get Any Savings by Paying on the 1st of the Month
First a quick overview. Mortgage payments are typically due on the first of the month, but not actually late until 15 days later.
In other words, most loan servicers will give you a grace period to pay any time between the first of the month and the 15th without penalty.
So while “technically due” on the first, it’s not actually late until the 16th. I never looked into why they do this, but this tends to be the universal rule (always check with your bank/servicer to be sure!).
And because most mortgages in the United States are simple interest and calculated monthly, it doesn’t matter when you pay in terms of interest charges.
If you pay on the first every month, you won’t save money on mortgage interest versus paying on the fifth or the 15th.
The amount of interest due is already determined and you’re simply making a payment for the prior month’s interest.
In short, there is no benefit to paying early in the month vs. mid-month. This isn’t the case for HELOCs, which are calculated daily.
You Could Get Savings by Paying Mid-Month
While you won’t see any interest savings by making mortgage payments early in the month, you could see savings if you wait until closer to mid-month.
As noted, many savings account pay 4% or more at the moment.
If your mortgage payment is say $3,000 per month, you could arguably keep that money in your high-yield account until the 13th.
That would give you another couple weeks of earnings at whatever the yield is, say 4%. And that would mean a higher interest payout at the end of the month in your savings account.
While it might not be a ton of money, it can add up, especially if you have larger mortgage payments and/or multiple payments to make.
The interest will also compound over time and make it even more valuable the longer you do this.
This is why I often pay my mortgage closer to the 15th of the month. They say every little bit helps.
Pay Other High-Rate Debt Early in the Month Instead
What if you carry other, higher-interest rate debt that accrues interest daily, such as a credit card?
Many Americans have revolving credit card debt that isn’t paid off in full each month. As a result, interest accrues every day on the outstanding balance.
Obviously, you should strive to pay the balance in full by the due date each month so this isn’t the case and you get a “grace period.”
But if this isn’t feasible, you could argue to pay as much toward that balance (or balances) as early as possible to reduce the interest expense.
Then just be sure to pay the mortgage before the due date.
In this scenario, you’re essentially allocating money toward the debt that is actually costing you more money each day.
The mortgage interest due is the same whether paid on the first or 15th, so there’s no advantage to paying it sooner.
The one caveat here is to make sure your payment clears on time. That’s why I usually pay on the 12th or 13th to ensure there isn’t a delay or something.
If there is, you could be charged a sizable late fee. But note that mortgages aren’t considered delinquent until 30 days past the due date, at which point it could be communicated to the credit bureaus.
The takeaway here might be to remember that there’s no benefit to paying a mortgage early in the month, but there could be a big benefit to paying other debt early, like a credit card or HELOC.
However, you can still pay off your mortgage early if you choose, but that involves making additional payments to the principal balance, beyond the regular payment due.
And doing so early on in the loan term can actually save you more.
(photo: Vanessa)
Before creating this site, I worked as an account executive for a wholesale mortgage lender in Los Angeles. My hands-on experience in the early 2000s inspired me to begin writing about mortgages 18 years ago to help prospective (and existing) home buyers better navigate the home loan process. Follow me on Twitter for hot takes.
Welcome to NerdWallet’s Smart Money podcast, where we answer your real-world money questions. In this episode:
Learn expert tips and tricks for saving money on holiday travel booking, from the best time to book to when you should use rewards points.
When should you book your holiday travel? How can you save money on travel during the busiest travel season? Hosts Sean Pyles and Meghan Coyle talk to travel rewards Nerd Sam Kemmis about how to save money when booking holiday travel, with tips and tricks on using companion fares, the optimal time to book holiday flights, and understanding the fine print of airline programs. They also discuss the challenges and benefits of standby flights, the value of subscribing to flight deal newsletters, and the advantages of using credit card points and transferring them to partner airlines. By exploring these topics, the hosts aim to provide listeners with actionable advice to make holiday travel more affordable and less stressful.
Check out this episode on your favorite podcast platform, including:
NerdWallet stories related to this episode:
Episode transcript
This transcript was generated from podcast audio by an AI tool.
Sean Pyles:
Over the river and through the woods, to Grandmother’s house we go. And if you don’t want that to break the bank, have we got an episode for you — and Grandma. Today, tips and tricks for saving money on holiday travel booking.
Sam Kemmis:
Because changing and canceling flights for most airlines is a lot easier now than it used to be, and there aren’t as many change and cancellation fees, that actually is a pretty good strategy.
Sean Pyles:
Welcome to NerdWallet’s Smart Money podcast. I’m Sean Pyles.
Meghan Coyle:
And I’m Meghan Coyle.
Sean Pyles:
And this is episode two of our Nerdy deep dive into holiday travel and the costs therein. And Meghan, I know you and I are both in the camp of avoiding holiday travel if at all possible. As much as we love our families, sometimes the hassle of getting to them just isn’t worth a wing and a leg of, you know… turkey.
Meghan Coyle:
Yeah. I heard what you did there, Sean. As we know, plenty of people do brave the crowds and the lines and the delays to see their loved ones over the holidays, so we are here to help smooth that process as best we can, especially when it comes to what you’re spending on that travel.
Sean Pyles:
The holidays are infamous for higher prices, especially on airfares, and there are definitely ways to save money if you’re willing to be a little flexible.
Meghan Coyle:
Sean Pyles:
Ooh, I love secrets, and we’re going to share lots of them today. So listener, perk up your ears like you’re listening for sleigh bells in the distance because we’re going to drop a lot of insider knowledge on you today. It’s our holiday gift to you.
Meghan Coyle:
That’s right, wrapped up all pretty and nice.
Sean Pyles:
We want to hear what you think too, listeners. To share your ideas and experiences around holiday travel with us—the good, the bad, and the insanity—leave us a voicemail or text the Nerd hotline at 901-730-6373, that’s 901-730-NERD, or email a voice memo to [email protected]. So Meghan, who are we hearing from today?
Meghan Coyle:
Today, our guest is our Nerdy colleague, Sam Kemmis, and we’re going to explore all the ways you can save yourself some cash when you’re booking holiday travel, and you don’t necessarily need to redeem your points to do it.
Sean Pyles:
That’s coming up in a moment. Stay with us.
Meghan Coyle:
Hey, Sam. So great to have you back on the show.
Sam Kemmis:
It’s so great to be here.
Meghan Coyle:
What are your travel plans for the holidays?
Sam Kemmis:
They’re not the most exciting, but I’m going to go home to Montana, where I’m from, with my kids to see family.
Meghan Coyle:
Aw, that sounds really sweet.
Sam Kemmis:
Meghan Coyle:
Is it going to be cold there?
Sam Kemmis:
Oh, yeah. It’s always cold. I always go for the cold snap. It always gets into the negative temperatures while we’re there.
Meghan Coyle:
Sam Kemmis:
This is always the question, and I wish I had that silver bullet where I’m like, “Here’s the one weird trick to saving money on holiday travel,” but the truth is it’s hard to do. But I do have a few tricks up my sleeve. So one of them is using companion fares. My partner and I both have the Alaska companion fare, which is great because we have two kids, and it lets us book a second ticket for just a little over $100 no matter how much the first ticket costs. Because you’re spending the same amount on that second ticket no matter what, the more expensive your first ticket is, the more value you’re getting from it. Holiday travel tends to be pretty expensive, so I usually save that companion fare for the holiday so I can kind of maximize that difference between the $100 and whatever I end up paying for the actual fare.
Meghan Coyle:
So it’s kind of like you’re almost using your companion fare as a kid discount, a child discount on your airfare for the holidays.
Sam Kemmis:
I wish my oldest was still young enough that I could put her on my lap. That’s the real discount for the holidays. In a pinch, I use companion fares. Alaska has a great one, but there’s also one from Delta. Southwest has its sort of famous one. There are some companion fare options out there.
Meghan Coyle:
And tell us how Alaska’s companion fare works. I believe you get that through a credit card, is that right?
Sam Kemmis:
Yes. You get it through its co-branded credit card and you get one of them to use every year.
Meghan Coyle:
Is this an annual tradition of yours to use the companion fare on the holidays?
Sam Kemmis:
Yeah, I guess it is becoming one as my kids get older. It used to be I would try to just book the most ludicrous flight that would still qualify with stopovers and multi-cities and going to Costa Rica and whatever I could do. But for one thing, Alaska has sort of changed the terms of it so it’s not so easy to do that. And now, yeah, not as exciting and my most expensive trip is usually home for the holidays.
Meghan Coyle:
Makes sense. Yeah. And I know some of the other companion fares have different terms and things like that, but Southwest’s companion pass lets you get flights for a discount for the entire year, so the holidays are also a great time to use that for a really high value.
Sam Kemmis:
Just no blackout dates on those, as far as I know.
Meghan Coyle:
That’s what we’re looking for for holiday travel because the travel companies know that these are such high demand times. You have to be really careful with the deals. Let’s talk about when you book your holiday travel. Have you done that already?
Sam Kemmis:
I have not. I have learned from covering this beat for so long that it’s actually usually better to wait until the fall to book, and maybe even a little later in the fall. So that’s easy for me because I’m a procrastinator, but I know there are a lot of people who want to book as early as possible. But the data show that booking months in advance doesn’t actually save you money. One piece of data I got from Google Flights that they shared with me showed that the lowest prices for the holidays usually happen between 80 and 20 days before departure, so about one to two months before departure, and that’s true for both Thanksgiving and the December holidays. If I’m booking for Christmas, that will put it somewhere in October, likely, that I’m booking. That’s a rule of thumb, but every year is different. It could be that if you wait until that 20-day cutoff that prices will actually go up, or that may be when prices are actually lowest. Just like anything that revolves around supply and demand, there’s no way to really play the market. Booking way in advance is usually not a great idea.
Meghan Coyle:
Okay, that makes me feel a lot better because I haven’t even started thinking about it yet.
Sam Kemmis:
I know. It’s like 95 degrees here. It’s hard to imagine.
Meghan Coyle:
I know we’re talking a bit early about holiday plans, and one thing I wanted to float out there is that you could book something now and kind of lock in a lower rate, and then you might be able to rebook it or change it or cancel it if something happens, your travel plans change, or even the price goes down. Can you talk a little bit about that and why that might be a good option for the holiday travel?
Sam Kemmis:
Yeah, because changing and canceling flights for most airlines is a lot easier now than it used to be, and there aren’t as many change and cancellation fees, that actually is a pretty good strategy. If you’re just one of those people that doesn’t want to wait and you see a decent price right now, you can always book it now and, like you said, either change the ticket when you see a better price and you might get a refund on that difference, or just cancel your ticket outright and rebook the lower price. So that’s not a bad idea.
You want to be a little careful, though, to make sure that you’re actually booking a refundable flight. And that doesn’t mean a fully refundable fare, but usually basic economy flights and flights with budget airlines like Spirit and Frontier do not have full cancelability. They won’t offer a full refund, especially those basic economy tickets. You want to watch out booking those. You probably won’t be able to get your money back. The same thing applies for hotels. Hotels are usually a lot easier. They’re usually much more flexible in terms of letting you rebook and even cancel last-minute. You can always book some hotel rooms in advance as long as you’re checking that fine print and making sure that you can cancel it later.
Meghan Coyle:
Something I used to do in college as well was I would take advantage of same-day changes and standby to help save a bit of money on holiday travel. I’ll tell you how this worked and then you can tell me if that was a good strategy or not to use.
Sam Kemmis:
Yeah, I want to hear about this.
Meghan Coyle:
I went to school out of state, so I had to fly home for the holidays. The cheapest flights were usually these super early morning, 6:00 AM flights, or maybe they would have some stops or I would take the red eye. I mean, these were just awful flights I was booking. But if you look into some of the same-day change policies and standby policies, you might actually be able to sometimes call your airline ahead of time, like the day before, or even look in the app and see if there was any availability on a better flight. As long as your departure airport and your arrival airport didn’t change and you were still taking off on the same calendar day, you can save a lot of money by just taking any of those extra seats on a better-timed flight. Something I would do is I would book maybe the earliest flight back on the Friday after Thanksgiving, and then I wouldn’t actually get up at 6:00 AM after eating tons of turkey the day before. I would just check on Thanksgiving and change it, sometimes for free if you have elite status, or there’s some type of policy that’ll let you change for free, or I would pay a pretty nominal fee, like $75, and fly back at a much more normal time. What did you think about that strategy?
Sam Kemmis:
That’s not bad, and I’ve definitely done things like that. I think it’s for sure a good college student strategy because it works as long as you’re pretty flexible on what actually ends up happening. You can have this great plan and, “Oh, I’m going to change it to a better flight,” and there may just not be better flights available. Or you could sort of go on standby, that fills up, and then you’ve got to get over to your actual flight or onto another standby. You could kind of end up in this purgatory where you’re not on any flight.
Meghan Coyle:
Sam Kemmis:
Obviously, I’m speaking in generalities because every airline is going to have different policies for this.
Meghan Coyle:
Sam Kemmis:
I love it. I love that kind of thing. I’ve done that with red eyes where I’ve booked a red eye that’s way cheaper and then just said, “Oh. Actually, could I just fly a normal flight?” and it works out. Totally a possibility if you’re willing to put in a little extra uncertainty work.
Meghan Coyle:
That’s a good call out. And probably wouldn’t work if you have multiple people traveling, like your family, so that would make it a bit more difficult.
Sam Kemmis:
Yeah, I think my kids would break up with me.
Meghan Coyle:
So where should people look for deals, whether on hotels or airlines, for holiday travel?
Sam Kemmis:
Airline deals themselves can be tough for the holidays. You might see airlines promote different sales, but usually those have blackout dates that are actually around the holidays. And so unless you’re willing to fly quite far off from the holiday itself, that’s probably not going to apply. That said, it might be worth subscribing to some flight deal newsletters or social media accounts. You can find those on Instagram or TikTok, and email newsletters are all over the place. And every once in a while, those will have deals around the holidays, especially internationally, especially around Thanksgiving. Because other places don’t celebrate our Thanksgiving, you can find deals around then for sure. Hotels also might have some deals around the holidays depending on how popular that particular property is around that particular holiday, so it’s worth going to the hotel’s website to see if they have any packages that might be a good deal.
Meghan Coyle:
I know we talked about this earlier in the episode—your credit card can come in handy for saving cash on travel purchases. Yours was through a companion fare through your Alaska co-branded card. What are some other situations where you should maybe look at your credit card and see how it can save you cash for holiday travel?
Sam Kemmis:
There’s a few options. One is using your credit card points. The most obvious way to do that is through the booking portal that the credit card has, so Chase Travel or AmEx Travel, whatever it is. Then you’re basically using the points for a fixed value, so you’re essentially buying cash tickets and using the points to pay for those cash tickets. If you’ve got a big pile of points and you want to use them up and you’re going to book a flight anyway, that’s not a bad way to do it. But there is another way to do it, which is to transfer those credit card points to a partner airline, and then book award travel through the partner airline. For instance, you might transfer them to American Airlines and then book using miles through American. So I say that’s another option. We’ve looked into the data and have seen that those bookings don’t usually offer a better cent-per-point value than booking at any other time, but they’re also not much worse. If a flight is twice as expensive as it normally is around the holidays, it will probably be about twice as expensive using miles. So again, there’s no free lunch here, there’s no way to game the system, but you might be able to find a little bit more value by transferring those credit card points to an airline and then booking through the airline.
Meghan Coyle:
Okay. Yeah, that makes sense. And you could also do half points, half cash in a lot of cases if you’re booking through the portal, right? So that might be a way to save some cash as well.
Sam Kemmis:
Yeah, it’s all relative. Do we call our credit card points cash? Are they their own thing? What is it?
Meghan Coyle:
Now we’re getting super nerdy. Are they cash?
Sam Kemmis:
Yeah. Yeah. Sometimes, also, your credit card might have cash back offers on certain hotels or other travel opportunities. Chase offers or AmEx offers might give you 10% back on a statement credit, so you could add that offer to your travel card before you book. Some travel credit cards offer statement credits on travel purchases either booked through the issuer’s travel portal or booked directly with a certain airline or a hotel. That’s a way to offset both the airline cost and the hotel cost.
Meghan Coyle:
Okay. Now let’s make it a little bit spicy. Let’s say you don’t have to go home for the holidays. You want to use that time off to go somewhere else. What are some good ways to save money on this type of holiday travel that’s more like a vacation?
Sam Kemmis:
One option is to go international. Like I said, other countries aren’t necessarily celebrating Thanksgiving. Some don’t celebrate Christmas or the same holidays in December. It might be worth looking at some of those countries to see if there’s some cheaper flight options. And then you can always check out Google Flights or Skyscanner search tools and put in “Anywhere” for the destination. Just be like, “Surprise me,” and just see what’s cheap.
Meghan Coyle:
I love that. You could end up literally anywhere for the holidays. Any other tips for saving on holiday travel without using your points?
Sam Kemmis:
I plug this all the time. I’m always promoting selling your family on doing Thanksgiving the week before or after actual Thanksgiving because…
Meghan Coyle:
Oh, yeah. I remember you wrote an article about this.
Sam Kemmis:
I did, and nobody ever cares and nobody ever bites, but I’m going to say it again. If you just convince your family to do it the week after, airfare will be half as expensive. There will be so much availability for vacation rentals, anything you need, and it still feels like the holiday. It doesn’t really matter as long as you all agree. Then you could extend that out to anything and be like, “Is anything real? Is everything arbitrary? Is it all just in our minds?”
Meghan Coyle:
And with that, we’ll leave everyone with a lot of existential questions.
Sam Kemmis:
That’s right.
Meghan Coyle:
Well, Sam, I know it’s a couple of months away, but I hope you have a great holiday season, or let’s just say a great fall/autumn season, and thanks so much for helping us out today.
Sam Kemmis:
My pleasure.
Sean Pyles:
As ever, I am impressed by how far a little flexibility can go when it comes to saving money on travel. And I say that as someone who is totally inflexible with my travel plans and therefore will never save money like you described doing in college, Meghan. That might be another reason why traveling around the holidays is not my thing.
Meghan Coyle:
I’ll say I did a lot of crazy things as a college student to save money. I remember going to these hour-long talks about the economy so I could get a free Chipotle burrito, and then it turned out it wasn’t even a whole burrito. That tells you how much my time was worth back then. One hour equals half a Chipotle burrito. But back to holiday travel, flexibility is really the key to getting deals on travel at any time of the year.
Sean Pyles:
Yeah. This is really something that I’ve taken to heart, which is that if you’re going to travel for the holidays, try to do it on the days when other people don’t. I mean, if you travel on the holiday itself, sure, you might miss out on some meal prep and maybe some games in the backyard if it’s not snowing where you are, but the hassles you’ll avoid just might be worth it. Now of course, that might not work if you have to deal with layovers or you’re going, say, from the West Coast to the East Coast and the time change makes it untenable. But if you don’t have those factors, why not? I’m sure the captains and flight attendants would love to have your company on the actual holidays.
Meghan Coyle:
Yes. And a hearty, “happy Thanksgiving” is always welcome when you have to work the holiday. And just think of the money and potential annoyances you’re saving by traveling the day of. If you can swing it, why not?
Sean Pyles:
All right. Well, our series continues next week. Meghan, what have you got in store for episode three?
Meghan Coyle:
Well, Sean, I would venture a guess that the biggest worry people have about traveling for the holidays is probably a flight getting canceled or maybe a road getting iced over so you can’t get somewhere. But a close second would be your luggage, all your stuff, the stuff you’d need to look and feel great at your destination, not to mention the presents. You lose that and, well, sad face. We’re going to have some tips and advice for getting your stuff from one place to another without losing your mind or your money.
Jessie Beck:
Once you add on the cost of paying to have a carry-on bag on that basic economy ticket, you might as well just get an economy ticket and be able to be a little bit more flexible. I think that’s the most important thing for me. If I did have to make a last-minute change, I can do that penalty-free.
Sean Pyles:
For now, that’s all we have for this episode. Do you have a money question of your own? Turn to the Nerds and call or text us your questions at 901-730-6373. That’s 901-730-NERD. You can also email us at [email protected]. And remember, you can follow the show on your favorite podcast app, including Spotify, Apple Podcasts, and iHeartRadio to automatically download new episodes.
Meghan Coyle:
This episode was produced by Tess Vigeland, Sean helped with editing, Claire Tsosie helped with fact-checking, and a big thank you to NerdWallet’s editors for all their help.
Sean Pyles:
Here’s our brief disclaimer: We are not financial or investment advisors. This nerdy info is provided for general educational and entertainment purposes and may not apply to your specific circumstances.
Meghan Coyle:
And with that said, until next time, turn to the Nerds.
Situated in the heart of Montana, Billings is a beautiful city brimming with rich history, stunning landscapes, and a quirky charm that’s distinctively its own. While many newcomers might first think of what Montana is more commonly known for, this gateway to the Yellowstone region is bursting with unique adventures waiting to be discovered.
Whether you’re browsing for apartments in Billings, checking out homes for sale, or seeking a rental property, you’re in for a delightful experience. If you’re ready to dig deeper and discover unique things to do in Billings, MT, read on to explore the enchanting side of the city and find out what makes Billings a good place to live.
1. Explore by paddleboard
Paddleboarding on the Yellowstone River in Billings offers a serene and scenic escape from the city’s hustle and bustle. Gliding over the gentle currents, you’ll enjoy stunning views of the surrounding landscapes and the chance to spot local wildlife.
Jenny Dow, Area Director at Fellowship of Christian Athletes, shares, “We love to take paddleboards down the Yellowstone River from Duck Creek Access to Blue Creek. The water is great a couple of weeks after the peak in early June and can get slower and shallower as the summer progresses.”
For both seasoned paddlers and beginners, this peaceful adventure provides a perfect way to connect with nature and soak in the beauty of Montana.
2. Hunt for thrifted treasure
Going thrifting in Billings is a delightful adventure for those seeking unique and vintage treasures. The city’s thrift stores offer a diverse array of items, from retro clothing to charming home décor, each with its own story to tell. As you sift through racks and shelves, you might uncover secrets and one-of-a-kind finds that add character to your collection.
One spot that is a must-stop is 406 Consignary, where their popup consignment brings in crowds from all over the state. After refining their thrifting technique, the shop offers boutique and name-brand items up to 50-70% off the retail price. With thousands of clothing pieces to choose from, there’s sure to be something for everyone.
3. Experience vintage cinema
Catching a film at a historic movie theater in Billings is like stepping back in time, where classic charm meets cinematic nostalgia. Art House Billings, located at the vintage Babcock Theatre, and Art House Cinema & Pub screen a diverse mix of films, from the latest releases to unforgettable classics. Sit back with a cold beer in hand and fully relax as you let the ambiance of the vintage theater enhance your experience.
4. Move and groove
Whether you’re looking to learn how to country swing or line dance, diving into the dancehall culture is a great way to experience a unique thing to do in Billings. Taking lessons is a fun way to enjoy both fitness and a true understanding of life in the West. Treasure State Country Entertainment is a hotspot for beginners and seasoned dancers alike where they can find a supportive environment to learn and improve their skills. The lively atmosphere captures the spirit of Montana, blending the excitement of dance with the charm of the region. Plus, it’s a great way to meet new people and immerse yourself in the local traditions.
5. Discover retro finds for your home
Shopping at vintage stores is often a treasure hunt for unique and charming finds that reflect the area’s rich history. These shops offer an eclectic mix of retro clothing, classic home decor, and one-of-a-kind antiques, making each visit an adventure.
Kassi Strong, a local small business advisor, suggests, “If you’re new to Billings, I recommend taking a walk through the various vintage stores downtown including Yesteryears, Marketplace 3301, Montana Vintage Clothing, and Studio Ernie. You’re sure to find an amazing piece of furniture for your new home or a hat to warm up in the cold Billings winters. There are also a few rotating vintage shows, such as The Prairie Sisters Vintage Market, that bring amazing vintage and handmade vendors to town a few times each year.”
So, grab your wallet and friends and set aside a day to immerse yourself in the charming vintage scene of Billings.
6. Sleigh the day away
Taking a cozy sleigh ride at 320 Guest Ranch offers a charming glimpse into Billings’ winter beauty, with snow-covered landscapes and crisp, fresh air. As the sleigh glides through the serene surroundings, the rhythmic jingle of the bells and the gentle clip-clop of the horse’s hooves create a soothing atmosphere. It’s a perfect way to experience the region’s picturesque scenery and enjoy a peaceful, nostalgic adventure.
After taking in the scenic view, warm up with hot cocoa by the fire and unwind in rustic, comfortable accommodations that make you feel right at home.
7. Unwind with coffee culture
Visiting a coffee shop provides a cozy retreat from the everyday hustle, where you can savor expertly brewed coffee and enjoy a welcoming atmosphere. Many downtown spots offer unique blends and artisanal pastries, perfect for a relaxing morning or a productive afternoon.
One spot that locals love is Poly’s Place Coffee, an old gas station turned retro coffeehouse that features delicious casseroles and pastries. From Rocky Mountain College students to neighbors chatting on the patios, Poly’s Place Coffee strives to “Brew Happiness…One Cup at a Time.”
Sheena Ernst, owner and chef at The Wild Table, a nearby private chef and cooking class company, shares her favorite coffee shop, “I would check out Black Dog Coffee in Roots Garden Center. Not only can you grab one of the best cups of coffee in town, which also happens to be brewed from local beans, but you can take your cup of coffee to any corner of the garden nursery to enjoy.”
8. Tap into a brewery
The lively atmosphere of a brewery is hard to beat when it comes to finding unique things to do in Billings. Savoring freshly crafted beers, paired with delicious snacks, enhances the experience.
Carter’s Brewing is a craft brewer that produces world-class ales and lagers true to style with locally sourced ingredients. With 24 delicious beers on tap that range from malty to hoppy, the taproom also features two patios, so you can sip your brew in the Montana sun.
Whether you’re a beer enthusiast or just looking to enjoy an engaging social setting, a brew pub visit provides a flavorful and laid-back outing.
9. Swing for the ballpark
Attending a Billings Mustangs baseball game offers a lively and eventful day, where the excitement of America’s pastime meets a close-knit community atmosphere. The ballpark buzzes with energy at every game as fans cheer for the Billings Mustangs, enjoy classic ballpark snacks, and soak up the local spirit.
“The Mustangs have been a staple of Billings since 1948 and many major league stars have passed through on their way to the Majors,” says Dave Heller, President & CEO of management company, Main Street Baseball. “Be sure to check out the ‘Stang Burger and the play area for the kids.”
Heading to a Billings Mustangs game is a “grand slam” of an outing, where every inning hits a home run with fun and excitement.
10. Wander through art
Exploring ArtWalk Downtown Billings invites you to immerse yourself in a dynamic display of creativity, as galleries and artists showcase their latest works. Since 1994, ArtWalk Downtown Billings has curated an event for locals and visitors to meander through that includes opportunities to make art, activities, live street theater, and more.
As you stroll from one exhibit to the next, you might stumble upon new favorites and even get the chance to chat with the artists themselves. Exploring the curated art of Billings’ urban scene offers a special way to dive into and appreciate the rich artistic landscape of the city.
11. Kick back in a bar
In Montana, slipping into a laid-back bar feels like stepping into a cozy, rustic retreat where time slows down. With the relaxed ambiance, it makes it easy to unwind and savor the simple pleasures of the great outdoors.
“As long-time bartenders, we appreciate the value in good food, beverages, and customer service. As business owners who work from home, we also appreciate the establishments that offer a relaxed, mid-afternoon, vibe where we can get work done. This is why we love Bin 119,” states Amber Child-Mathews, co-owner of The Tin Tavern.
“This restaurant and wine bar has been a food and beverage staple in the Billings community, and they recently revamped their menu and concept. This establishment is a must for new Billings residents and visitors.”
Unique things to do in Billings, MT: Final thoughts
Billings is an incredible spot to discover unique things to do that extend far beyond the ordinary. As the largest city in Montana, Billings invites you to explore and uncover its many layers, from its hidden cultural treasures and quirky attractions to its breathtaking natural wonders and local culinary delights. If you’re thinking about becoming a new resident, be sure to embrace the adventure and let this vibrant city surprise and inspire you.
Medicare Part D covers the vaccine for RSV, or respiratory syncytial virus, and generally there’s no cost to you.
Here’s what you should know about Medicare and the RSV vaccine.
What is RSV?
RSV is a virus that comes with cold-like symptoms, like a runny nose, headache or sore throat. Symptoms are typically mild, but for some older adults, RSV can become very serious, leading to conditions like pneumonia or congestive heart failure. You could end up in the hospital, and as many as 10,000 older adults die of RSV complications each year, according to the American Lung Association.
Does Original Medicare cover the RSV vaccine?
Original Medicare doesn’t cover the RSV vaccine. However, if you have Medicare Part D prescription drug coverage, Part D will cover the RSV vaccine. And because this is a vaccine that’s part of recommended preventive care for older adults, there should be no cost to you.
Shopping for Medicare plans? We have you covered.
Medicare Advantage is an alternative to traditional Medicare offered by private health insurers. It covers the same benefits as Medicare Part A and Part B.
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Does Medicare Advantage cover the RSV vaccine?
If you have a Medicare Advantage plan with prescription drug coverage, your plan’s drug coverage will cover the RSV vaccine. If your Medicare Advantage plan doesn’t offer prescription drug coverage and you have a standalone Part D plan, the RSV shot will be covered by your Part D plan.
Should you get the RSV vaccine?
The Centers for Disease Control and Prevention (CDC) recommends that all adults age 75 and older get the RSV vaccine, and adults age 60 to 74 get the RSV vaccine if they’re more likely to get seriously ill from RSV.
According to the CDC, you’re at a higher risk of getting seriously ill from RSV if you have chronic heart or lung disease, a weakened immune system, or live in a nursing home or another long-term care facility, among other things.
How often do you need the RSV vaccine?
A single dose of the RSV vaccine should protect you for about two winter seasons, if you time it right, according to the CDC.
For best results, aim to get your shot in the late summer or early fall.
What other vaccines does Medicare cover?
Medicare Part D covers vaccines that are recommended by the Advisory Committee on Immunization Practices (ACIP), including vaccines for shingles and whooping cough. If the ACIP recommends a vaccine, your drug plan will cover it at 100%.
Doom spending is spending money to cope with stress when the future seems uncertain or troubling, such as when the economic or political outlook appears grim. For example, a person might be feeling anxious about how high their housing costs are and what will happen in an upcoming election. To distract themselves from these worries, they might splash out on a special sushi dinner, concert tickets, or new clothes. The thinking here? “What’s ahead looks dicey; I might as well enjoy myself now.”
If you can relate to this, read on to learn more about the causes of doom spending and how not to let it harm your financial standing.
Key Points
• Doom spending is when individuals spend money to cope with stress and anxiety about the future, such as a gloomy economic or political outlook.
• A significant portion of Americans, especially the younger Gen Z and millennial generations, engage in doom spending.
• Psychological triggers for doom spending may include stress, anxiety, impulse control issues, and societal and peer pressure.
• Doom spending can lead to increased debt and reduced savings, negatively impacting financial stability.
• Strategies to break the cycle of doom spending may include creating and sticking to a budget, setting up automatic savings transfers, and seeking alternative stress relief methods.
Understanding Doom Spending
Doom spending is a phenomenon in which people may overspend in response to stressful times. For instance, when the world is filled with political and economic uncertainty, consumers (especially younger ones) may feel there’s no point in saving. A voice inside their head may ask, “Why bother?” Instead, they decide to live in the moment and go shopping as a distraction and mood lifter.
A November 2023 survey by Qualtrics on behalf of Credit Karma found that 27% of all Americans engage in doom spending, and it’s especially prevalent among younger adults. In fact, 43% of millennials and 35% of Gen Zers admit they have spent money in this way.
Financial experts say these generations may be especially vulnerable to feelings of hopelessness and doom spending, as they came of age in a time of economic uncertainty and are living in an era with high housing costs, massive student debt, and considerable inflation (consumer prices rose approximately 20% between January 2020 and January 2024). Many may find that they currently have a lot less in their bank accounts that they’d like.
While there is nothing wrong with occasional rewards, doom spending can result in credit card debt and a reduced ability to save for the future. In the Qualtrics/Credit Karma study, about one-third of Americans reported an increase in debt in the past six months, and nearly half said the amount of money they’re saving has gone down.
Recommended: What Are Fixed vs. Variable Expenses?
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Psychological Triggers Behind Doom Spending
Here’s a closer look at some of the causes of doom spending.
Stress and Anxiety
Stress and anxiety can trigger doom spending, and there’s little doubt that they are rampant right now. According to the American Psychological Association (APA), many people in the U.S. have been negatively impacted by the trauma of the pandemic, global conflict, racial injustice, inflation, and environmental challenges around us. All of those issues can swirl together and create a feeling of future doom.
According to a June 2024 Axios Vibes/Harris Poll survey, a majority of millennials and Gen Zers agree that it is better to treat themselves now rather than hold off for a future “that feels like it could change at any moment.”
Impulse Control Issues
Shopping can bring joy in a few different ways. Research has shown that purchasing an item you desire can empower you with a sense of control. It can also flood your brain with dopamine, a “feel good” neurotransmitter.
When people feel that the future is gloomy, they may crave that “feel good” flood even more and, therefore, easily give in to impulse purchases. Spending money in this way can be a relief and a release. It’s a distraction that lets you treat yourself and temporarily escape your worries.
Societal and Peer Pressure
Social media can exacerbate doom spending by driving you to spend money to “keep up with the Joneses.” It can also lead to FOMO (fear of missing out) spending and YOLO (you only live once) spending.
Because the future seems cloudy and so expensive, you may not bother to plan for it. Instead, you might follow a friend’s, coworker’s, or social media influencer’s lead and spend money on the latest trendy purchase or experience. It can create a feeling of belonging and help you escape all the doom-driven anxiety.
Recommended: Financial Planning Tips for Young Adults in Their 20s
Consequences of Doom Spending
The consequences of doom spending can be mild or more significant, but typically include the following:
• Blowing your budget. Additional spending can make it hard to stick to a budget. If you’re buying more non-essentials, you may come up short when it’s time to make your student loan payment. Or you might have to stop contributing to your retirement plan so you can make ends meet.
• Credit card debt. Credit card debt in the U.S. reached a record high in the second quarter of 2024 (hitting $1.142 trillion). That’s a whole lot of swiping and tapping going on, and doom spending may be a contributing factor. Shopping with credit cards can feel as if purchases don’t cost anything since no hard cash changes hands. But if you go overboard with doom spending, you may get an eye-watering bill. Given today’s ultra-high credit card interest rates (currently averaging over 20%), it can be hard to get out from under credit card debt once it starts racking up.
• Ability to save. When you spend money on fun treats and impulse purchases to relieve stress and buoy your spirits, it may well be “borrowed” from money you were going to save. Whether those dollars were earmarked for an emergency fund, retirement account, the down payment on a house, or other purpose, doom spending can set you back in terms of your short- and long-term financial goals.
• Increased stress. Knowing that you’ve overspent can heighten the anxiety you are already feeling. Many people feel guilty about spending money, and a doom-triggered spending spree can create more worries about your financial future.
Strategies To Manage and Prevent Doom Spending
If you’ve been doom spending (or tempted to), these strategies can help you reign in the impulse.
Setting a Budget
A good budget helps organize your money and keep your spending on track; it can provide guardrails for how your income will be spent and saved. There are many different types of budgets, so you may need to experiment to find the method that works best for you. One popular approach is the 50/30/20 budget rule, which says that 50% of your take-home pay should go to needs, 30% to wants, and 20% to savings and/or additional debt payments. With a budget like this in place, you know just how much (30%) can go toward fun expenditures and can stick to that figure.
Once you determine how much you want to put towards savings each month, it’s a good idea to set up an automated transfer from your checking account to your savings account for the same day each month (perhaps right after you get paid). That way, the money gets whisked away and won’t sit there, tempting you to spend it.
You can set a budget and track your spending with pen and paper, or you might want to download a budgeting and spending app to your phone to simplify the process.
Self-Control Techniques
Being aware of what triggers you to doom spend can help you stop. For example, if you know you tend to shop on Sundays when you start feeling anxious about the week ahead and life in general, fill your calendar. You might set up a standing date to go walking or running with a friend or take on a volunteer gig or side hustle so you are too busy to spend.
Many people impulse buy online or on social media. If you tend to overspend in this way, consider disabling one-click shopping. It’s also a good idea to delete your credit card details from your devices — that way, it won’t be so easy to mindlessly spend while scrolling.
Recommended: How to Stop Spending Money
Seeking Professional Help
If you feel your doom spending isn’t yielding to the above techniques, you might want to enlist the help of a professional. A financial planner could help with budgeting or a therapist could guide you to uncover and address the emotional aspects of your spending.
A financial therapist could also be helpful. They merge money know-how and an understanding of human behavior to resolve issues such as doom spending.
The Takeaway
Doom spending is a way of coping with stress by spending money. When you feel as if the world is uncertain and anxiety-provoking, you may find relief by shopping. But this can negatively impact your finances and create more money worries. Fortunately, there are several strategies that can help you control doom spending and stick to a budget.
The right banking partner can also help by giving you tools to help you track and grow your money.
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FAQ
What are the common signs of doom spending?
Common signs of doom spending include:
• Making impulsive purchases in response to feeling stressed or anxious about the future
• Feeling temporary relief or pleasure after spending but later regretting the purchase
• Frequently buying things you don’t need
• Neglecting to save for the future
How can I break the cycle of doom spending?
Here’s a look at some strategies that can help you break the cycle of doom spending:
• Create a monthly spending budget.
• Set up a recurring monthly transfer from checking to savings.
• Uncover your spending triggers and work to avoid or eliminate them.
• Practice mindful spending by pausing before each purchase and assessing if it’s truly necessary.
• Seek alternatives for stress relief, such as exercise or hobbies, to replace spending as a coping mechanism.
• Work with a financial advisor or psychologist/therapist
Are there tools or apps to help manage spending habits?
Yes, there are a number of online tools and apps that can help you manage your spending habits, set up a budget, and monitor financial goals. Popular options include YNAB (You Need a Budget), Goodbudget, and EveryDollar. You might also check with your bank to see what tools they offer to track and organize your finances.
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The latest monthly national housing survey from Fannie Mae revealed an interesting contradiction.
Last month, a new survey-high 39% of respondents said they expect mortgage rates to go down over the next 12 months.
At the same time, fewer expect home prices to go up over the same period. And more believe home prices will fall.
So despite a home purchase becoming more affordable thanks to a lower interest rate, consumers don’t think prices will increase.
What does this say about home buyer demand as mortgage rates go down?
But We Were Told Bidding Wars Would Return When Mortgage Rates Fell
Fannie’s monthly Home Purchase Sentiment Index (HPSI) did increase very slightly (0.6 points) to 72.1 in August from a month earlier.
But it remains very low, with most of the 1,000 respondents saying it’s a poor time to buy and also an increasingly bad time to sell.
Just 17% said it was a “good time” to buy a home in August, which has remained relatively flat for several months and remains just above all-time survey lows.
Meanwhile, 83% said it was a “bad time” to buy a home, the highest share since the survey’s inception.
At the same time, only 65% say it’s a good time to sell, while 34% say it’s a bad time. Since August 2021, the “net good time” to sell has fallen from 54% to just 31%.
So it appears no one is happy with the current state of the housing market, which continues to be characterized by a mismatch between buyers and sellers.
Sellers are being told they aren’t realistic in terms of what they’re asking, and buyers are saying it’s too expensive. But nobody is budging.
There’s also a lack of inventory in most markets, so there’s little to choose from and often not what a prospective buyer is looking for.
Taken together, we’ve seen a big drop in home sales, especially once you factor in the ongoing mortgage rate lock-in effect.
It’s also odd to see this sentiment given the narrative we’ve heard for some time that the housing market would turn into a frenzy when mortgage rates fell.
Well, they’ve fallen from around 8% a year ago to just above 6% at last glance. You’d think that would be enough to get the ball rolling.
It’s the Economy (and Maybe High Home Prices Too!)
As I wrote last week, it’s no longer a mortgage rate story. Most consumers are on board the “rates are going lower” bandwagon.
Yet they’re also saying it’s not an ideal time to buy. So then you need to look elsewhere for your answer.
Are home prices just too high, even with mortgage rates nearly 2% below their peak a year ago?
Or is the economy becoming more of a concern, with the Fed dancing with a recession and lots of rate cuts now expected over the next year and change?
Most of the consumers surveyed by Fannie Mae said they weren’t concerned about a job loss (78%), which has drifted down from 82% in 2021 but remains high.
But respondents have been more pessimistic about their household income compared to a year ago, with more saying it’s “significantly lower” than “significantly higher.”
This could also reflect the purchasing power of their dollars, which have eroded thanks to the inflation of just about everything.
So you start to wonder if consumer outlook is worsening as the economy shows signs of slowing, all while unemployment is rising.
This is what matters more than rates. And really explains why mortgage rates and home prices don’t have an inverse relationship.
If mortgage rates are expected to fall due to slowing economic conditions, couldn’t you argue that home price growth might also?
I’ve argued that home prices and rates can fall in tandem for this reason, despite nominal declines being rare.
But it at least bucks the idea of a home buyer frenzy when rates fall. Of course, rates have fallen during the slower time of the year. And they’re still markedly higher than they were as recently as early 2022.
So perhaps we just need rates to continue falling and for the 2025 spring home buying season to come about.
Then we’ll have a better idea of where this housing market goes next.
Before creating this site, I worked as an account executive for a wholesale mortgage lender in Los Angeles. My hands-on experience in the early 2000s inspired me to begin writing about mortgages 18 years ago to help prospective (and existing) home buyers better navigate the home loan process. Follow me on Twitter for hot takes.
A substitute check is a legal copy of a check created by a bank from a digital image of the original check. Creating substitute checks allows banks to process checks electronically instead of sending paper checks through the system, which speeds up the process and cuts costs.
Not all copies of checks qualify as substitute checks, though. The images of checks you may get with your bank statement are not substitute checks; nor are the photos you take of a check when making a mobile deposit. As a result, substitute checks are often a source of confusion to consumers. Here, we shed light on what substitute checks are, how they work, and what happens to the original checks you write or deposit into your account.
Defining a Substitute Check
A substitute check is a special copy of an original check that contains all of the same information, including signatures, dollar amount, account numbers, and the MICR (magnetic ink character recognition) line. Banks create these checks by using high-speed scanners that capture the front and back of the original check. These checks are good for the same amount of time as the original check.
Once generated, the substitute check can be sent electronically to the payer’s bank. This process is faster than the old method of physically transporting paper checks. If a paper check is needed for certain processing or record-keeping purposes, a substitute check can be printed from that electronic image.
Banks can use photos of an original check to make a substitute check. But in order to be valid, the duplicate must be made by the bank. When you create an image of a paper check to complete a mobile check deposit into your bank account, your financial institution converts those images into a substitute check using their check-processing software platform.
Recommended: Guide to Outstanding Checks
Substitute Checks vs. Original Checks
A substitute check looks similar to the original but has a few differences: It will be slightly larger than the original and the front of the check will feature this statement: “This is a legal copy of your check. You can use it the same way you would use the original check.”
While substitute checks look somewhat different from the original checks, they are considered legally equivalent. This means that banks are no longer required to keep the original physical checks, as long as they have an authorized substitute check. In some cases, a bank will destroy original paper checks right away; in others they will store original checks for a set period of time and then destroy them.
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Legality and Usage of Substitute Checks
The Check Clearing for the 21st Century Act (often referred to as the Check 21 Act) authorized the use of substitute checks when it was passed in 2003. The act was designed to improve the efficiency of the check-clearing process by allowing banks to use electronic images of checks instead of physical paper. This legislation aimed to reduce costs, expedite check processing, and minimize the risks associated with transporting paper checks.
Thanks to the Check 21 act, checks now typically clear within one or two business days, providing faster access to funds for consumers and businesses. Due to the swift processing speed for checks, you want to be certain you have sufficient funds in your checking account before writing a check.
When Substitute Checks May Be Used
Banks use substitute checks to facilitate the check-clearing process, as these checks are accepted as legal tender by other financial institutions. While account holders typically don’t use substitute checks to make payments, they can be used as proof of payment. Upon request, your bank can provide you with a substitute check. They may provide one for free or it may involve a fee.
Recommended: Where to Cash a Check Without Paying a Fee
Advantages of Using Substitute Checks
Here’s a look at two of the main benefits of using substitute checks.
Faster Processing of Check Transactions
One of the biggest advantages of using substitute checks is that it allows for more convenient and faster processing of check transactions. Instead of having to send, track, and store the physical checks, banks can use electronic images of substitute checks to facilitate payments.
Easier Handling of Electronic Check Images
Substitute checks make it easier for banks and businesses to manage large volumes of checks without the need to physically transport or store them. Electronic check images can be transmitted, retrieved, and stored more efficiently than paper checks. This digital approach improves record-keeping and reduces the chances of checks getting lost or damaged. If a paper check is required for legal or practical reasons, a substitute check can be printed on demand from the stored image.
Potential Drawbacks of Substitute Checks
While substitute checks benefit banks and customers alike, they come with a few potential drawbacks. Here are two downsides to consider.
Authenticity Concerns
Since substitute checks are created from electronic images, it may be harder to verify their authenticity compared to original paper checks. While the Check 21 Act includes measures to ensure that substitute checks are legally valid, there is still the possibility of errors and check fraud. An inaccurate or altered image could lead to disputes or financial losses. In rare cases, fraudulent substitute checks may be used to manipulate transactions or deceive people.
Readability Issues
The process of converting a check into a digital image and then printing a substitute check may result in a lower-quality reproduction. In some cases, the substitute check may be difficult to read, especially if the original check had poor handwriting, smudges, or damage. This can lead to errors in processing or disputes if the substitute check cannot be interpreted accurately.
Handling Substitute Checks as a Consumer
Since substitute checks are now commonplace, you may occasionally encounter them in your banking activities. As a result, it’s important to understand your rights regarding substitute checks and how to handle any issues that may come up.
Your Rights Regarding Substitute Checks
Under the Check 21 Act, substitute checks are considered legally equivalent to original checks, which means that consumers and businesses can use them as proof of payment or for other legal purposes.
If you experience any errors or problems related to a substitute check (such as a discrepancy in the check amount or a transaction that appears incorrect), you have the right to file a dispute with your bank. The bank is required to investigate the issue and either correct the error or explain why the substitute check is valid.
Disputing Errors Involving Substitute Checks
If you notice an error involving a substitute check, such as an incorrect amount being withdrawn from your account or money being withdrawn for a check more than once, it’s important to contact your bank as quickly as possible. The bank is obligated to investigate and respond to your dispute within a reasonable timeframe. In some cases, you may be entitled to a refund if the substitute check was processed incorrectly, including any fees that may have been charged as a result of the error (such as a bounced check or non-sufficient funds fee) or any lost interest.
The Takeaway
Substitute checks have revolutionized the way checks are processed, making transactions faster and more efficient. By allowing physical checks to be converted into digital images and then reproduced as substitute checks, the Check 21 Act has modernized the check-clearing process.
While substitute checks look slightly different from original checks, they are considered the legal equivalents. If you have any concerns about a substitute check, or if you feel any errors were made in processing a check, it’s important to contact your bank.
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FAQ
What is the difference between a substitute check and an electronic check?
A substitute check is a copy of a check used by banks in place of the original. While a substitute check is usually processed electronically, it is not the same as an electronic check. An electronic check (e-check) is a completely digital version of a check where no paper copy exists. E-checks are processed electronically from start to finish, without any physical checks involved.
Are substitute checks legally valid as proof of payment?
Yes, substitute checks are considered the legal equivalent of the original check and contain all the essential information, including the check number, account information, and payer/payee details. Because substitute checks are considered the equivalent of original checks, they can be used in disputes, for record-keeping purposes, or as evidence of payment.
Can a substitute check be used in place of the original check?
Yes, a substitute check can be used in place of the original check. Under the Check 21 Act of 2003, a substitute check is considered legally equivalent to the original and can be used for all the same purposes, such as clearing transactions, providing proof of payment, or resolving disputes.
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Are you looking for the best fall side hustles? Fall is a great season to start thinking about ways to make some extra money. With cooler weather and cozy vibes, it’s a great time to find new ways to make money. If you need extra cash for holiday shopping or want to save more, there…
Are you looking for the best fall side hustles?
Fall is a great season to start thinking about ways to make some extra money. With cooler weather and cozy vibes, it’s a great time to find new ways to make money. If you need extra cash for holiday shopping or want to save more, there are many side jobs that are perfect for the fall season.
Many of these jobs can be done from home or in your local area. The best part is, you don’t need a lot of experience or money to start. There are many ways to use your skills and free time to make cash.
Best Fall Side Hustles
Below are the best fall side hustles.
1. Work at a pumpkin patch
Working at a pumpkin patch is a fun way to make some extra money in the fall. Pumpkin patches usually hire seasonal workers, which means the job won’t last too long. It’s perfect if you’re looking for something short-term.
You could help customers pick out their perfect pumpkin, help in setting up displays, and ring up customers.
It’s usually busy on weekends, so you might have a lot of customers to help.
Check your local farms or community centers for job openings. They tend to start hiring before the season begins.
2. Participate in paid online surveys
Taking paid online surveys is a great way to make extra cash without much effort. You can do it from home, on your phone, or whenever you have free time. Companies need your opinions to improve their products and services, so they’re willing to pay for your feedback.
Paid online surveys can be a fun and easy side hustle. While you won’t get rich from them, they can definitely help you make a bit of extra spending money. Plus, they fit into your schedule whenever you have some spare time.
The survey companies I recommend signing up for include:
Survey Junkie
Prime Opinion
Swagbucks
Branded Surveys
American Consumer Opinion
Five Surveys
PrizeRebel
InboxDollars
I’ve done lots of surveys over the years, and what I like about them is that you can do them whenever you want – in the morning, at lunchtime, or before bed. You don’t need to follow a strict schedule, and they’re really easy to do.
3. Sell crafts on Etsy
If you love creating things, selling crafts on Etsy is a great fall side hustle. Many people go to Etsy to find handmade items that are unique and special. I shop on Etsy all the time and it’s because I know that I can find one-of-a-kind gifts on the site.
Fall is a perfect time to sell your crafts, and you can think about making items like wreaths, pumpkin decorations, or knitted scarves. People love decorating their homes for the season.
You can also try making Thanksgiving table decor or fall-themed wall art. These items are very popular and can sell quickly.
4. Work at an apple orchard
Working at an apple orchard can be a fun and rewarding side hustle in the fall.
Many orchards need extra help during the harvest season, which usually runs from late summer to early winter. You can find jobs picking apples, helping customers, or even working at a cider mill.
Most orchards pay by the hour or by the bushel, so you can earn a decent amount of money depending on how many hours you work or how fast you pick.
Check with local orchards or look online for job openings. Some places may have flexible hours, which is perfect if you’re balancing other commitments.
5. Dog walking or pet sitting
Dog walking is a fun way to earn extra money, especially in the fall. The weather is cooler, and both you and the dogs will enjoy the fresh air. Many people need dog walkers because they are busy or unable to walk their pets. This makes it a great side hustle for animal lovers.
You can make good money walking dogs, typically around $15 to $30+ per hour.
There are apps like Rover that connect you with pet owners who need help. Signing up is usually quick and easy, and I personally know dog walkers on Rover who make extra money (my mother-in-law as well as my sister!).
6. Tutoring kids
Tutoring kids can be a terrific fall side hustle. If you are good at teaching, it’s a great way to earn extra money. Many parents look for tutors for subjects like math, science, or reading.
Tutoring isn’t just for older kids. Younger children also need help with basic skills. And don’t forget, you can tutor in fun subjects too, like arts and crafts.
Tutoring pays well. Some tutors earn around $25 to $35 an hour, depending on the subject and their experience.
7. Rent a room on Airbnb
Renting a room on Airbnb is a popular side hustle in the fall. If you have an extra room, you can list it on Airbnb for travelers to book.
Of course, to start, you’ll want to check if short-term rentals are allowed in your area. Some cities have rules about this, so you don’t want to get in trouble for breaking any laws.
Then, you’ll want to get your room ready (make it comfortable with fresh sheets, towels, and clean up the area), take good pictures to display on Airbnb, and set a fair price.
8. Freelance writing
Freelance writing is a great fall side hustle from home. You get to write for different clients, which means your work can include articles, blog posts, website content, and more.
One of the top benefits of freelance writing is flexibility. You can work from home, a cafe, or anywhere you’re comfortable. This makes it easy to fit freelance writing into your fall schedule, whether you have other commitments or just want more control over your time.
Freelance writers can get paid per word or per project. Beginners might start at lower rates, but experienced writers can make good money. For example, writing a 1,000-word article might earn you $50 to $350 depending on your skill and the client.
9. Coach a fall school sport
Coaching a school sport in the fall is a great side hustle. You can share your love for the game while earning extra cash. Schools often look for experienced players to lead their teams.
This job usually happens after school, so it won’t clash with a regular nine-to-five job. You could coach sports like soccer, football, or cross-country.
10. Photography sessions
Fall is a beautiful time for photography. The changing leaves and glowing sunsets make perfect backdrops. If you enjoy taking photos, you can turn this hobby into a side hustle. Families, couples, and even pet owners love to capture memories with autumn colors.
I know many people who take family photo sessions in the fall, and I am actually trying to get one booked right now. The fall is a very popular time for photos, especially because many people use these pictures for holiday cards that they send out.
You can offer short, themed photo sessions. These are called mini-sessions and can last between 20 to 45 minutes. They are popular because they don’t take much time but still capture great moments (and are affordable for families).
You can promote your mini-sessions on social media or through local community boards. Show examples of your past work to attract clients, and even having a few props like pumpkins or cozy blankets can make your sessions even more special.
Recommended reading: 18 Ways To Get Paid To Take Pictures
11. Halloween costume shop
Starting around September, everyone starts thinking about Halloween. And, that includes costume shops!
These typically start popping up and usually last from around September to early November, so that means they need temporary workers.
They need workers to ring people up, stock the shelves, decorate, and more.
12. Virtual assistant
Being a virtual assistant is a fun and flexible way to make money. You can work from home, set your own hours, and choose who you want to work for. This side hustle can fit around your schedule, whether you want part-time work or a full-time job.
Virtual assistants manage social media, schedule appointments, handle emails, or do data entry. Basically, they help with any tasks that someone doesn’t have time to do themselves. This job is very important for keeping businesses running smoothly.
The pay for virtual assistants can be really good. Beginners usually start at around $15 to $20 per hour. With experience, you can make more, even reaching $50,000 a year or more. The more skills you have, the more you can earn.
I was a virtual assistant for several years, and it was a great side hustle. I learned many things by working for small businesses, and it was a great and flexible side hustle.
13. Social media management
Social media managers help businesses or influencers run their social media accounts, such as Instagram, Facebook, TikTok, or their YouTube channel. This includes creating posts, responding to comments, and analyzing engagement.
You don’t need a degree to do this job. Being good at social media and having some creativity can be enough. Small businesses usually need help, especially during busy holiday seasons.
14. Rake leaves
Raking leaves is a great way to earn extra cash in the fall. Many people don’t have the time or energy to do it themselves, especially if they have big yards or a lot of leaves.
You don’t need a lot to get started either with this side hustle idea. A good rake and sturdy bags are pretty much the essentials. You might also want gloves to protect your hands. Working in your neighborhood can be a smart move since you won’t have to travel far.
Timing is important and many homeowners want their yards cleared before the first snowfall. Letting people know early in the season can help you get clients (such as by posting flyers or making social media posts).
15. Become a rideshare driver
Driving for rideshare services like Uber or Lyft can be a great way to earn extra money. With this gig, you can choose your own hours and work as much or as little as you need, such as only during the fall months.
The pay can vary. Earnings might depend on your location, demand for rides, and tips from passengers. Some drivers also earn bonuses for completing a certain number of rides in a set time.
16. Gutter cleaning
Gutter cleaning is a great side hustle idea in the fall. With leaves falling, many homeowners need help keeping their gutters clear. Clean gutters prevent water damage to homes.
You don’t need much to start. A good ladder and some basic tools are usually enough, especially in the beginning.
17. Babysit
Babysitting is a great way to make extra income, especially in the fall when parents are busy with school routines and holiday planning. You can earn good money while working flexible hours that fit your schedule.
By babysitting, you can enjoy a flexible side hustle that fits around other responsibilities or activities you may have.
18. List your storage space
Do you have extra space in your garage or attic? You can make money by renting it out to others who need storage!
Many people look for storage solutions in the fall. They need space for their summer items like RVs, boats, and outdoor furniture, as an example. Listing your storage space can help them and put extra cash in your pocket.
You can use websites like Neighbor or Craigslist to list your space. These platforms make it easy to connect with people in need of storage.
19. Mystery shopping
Mystery shopping is a fun way to earn some extra cash and get free stuff. Here, you act like a regular customer while secretly noting down details about your experience. Companies hire mystery shoppers to check how well their services work.
You’ll find tasks like visiting restaurants, checking out stores, or making phone calls. Payment methods can be cash, gift cards, or reimbursements. Most shoppers earn about $10 to $50 per assignment.
One great company to start with is BestMark. They have lots of jobs like shopping at clothing stores or dining at restaurants. This is the secret shopping website that I have used many times in the past, so I know that they are real.
20. Firewood delivery
Firewood delivery can be a great way to make extra money in the fall. As the weather cools down, more people start needing firewood to keep warm.
Having a truck or trailer is important for transporting the wood. You can charge extra for delivery, making your service even more profitable.
Now, this isn’t an easy job. Loading and unloading firewood as well as chopping it is hard work. But, it can give you a way to make extra income in the fall.
21. Haunted house
One of the most fun fall side hustles is to find a job at a haunted house. Haunted houses usually start popping up in September, and many times they are in desperate need of workers.
Working at a haunted house can be really fun, and there are lots of different jobs you can do!
Some people work as actors, wearing scary costumes and makeup to scare visitors. Others work as guides, leading guests through the haunted house and keeping everyone safe. Makeup artists create spooky looks for the actors. Some people set up sound effects, lights, and special effects to make the haunted house scarier. There are also jobs for handling tickets, marketing, and other tasks to keep the haunted house running smoothly.
I have several friends who love working at haunted houses, and they’ve been doing it for years.
22. Seasonal decor installation
As the leaves change colors, many people want to decorate their homes for fall. If you have a good eye for design, you can make money by helping them set up seasonal decorations – this can include Halloween decorations and even installing holiday lights on a house for Christmas.
People are often busy preparing for holidays, so your service can save them time and effort. You can charge by the hour or by the project.
Frequently Asked Questions
Finding a fall side hustle can be easy and fun. From working at pumpkin patches to selling crafts online, there’s something for everyone. Here are some commonly asked questions about fall side hustles.
What are some easy side jobs to do from home during the fall season?
Taking online surveys is a simple way to make extra money. You can also sell crafts on Etsy. If you have a skill like graphic design or writing, freelancing can be a good option too.
Can you list outdoor activities that can earn money in the cold months?
Working at a pumpkin patch or an apple orchard can be enjoyable and help you make extra income. Dog walking is another great idea. These activities allow you to spend time outside while earning some extra cash.
What strategies can help a landscaper keep earning in the winter?
Landscapers can provide snow removal services, such as to homes and businesses. Another option is providing outdoor holiday decoration services. These strategies can help keep the income flowing even when it’s cold.
How can I make an extra $2000 a month?
Combining several side hustles can help you reach your goal of making $2,000 per month. You can take online surveys, sell crafts on Etsy, and work part-time at places like pumpkin patches or apple orchards. Diversifying your efforts makes it easier to hit your target income.
Best Fall Side Hustles – Summary
I hope you enjoyed this article on the best fall side hustles.
There are many ways to make money in the fall, such as working at a pumpkin patch or haunted house, answering online surveys, dog walking, tutoring, freelancing, and more.
Making extra money is great, and it can help you save for the holidays, stop living paycheck to paycheck, pay off your debt just a little more quickly, and more.
What do you think are the best side hustles in the fall?