Ready for homeownership — but looking for something a little bit less overwhelming than a whole house? A condominium might be the perfect fit. But can you purchase a condo with an FHA loan? Yes, under certain circumstances, you can use a loan from the Federal Housing Administration to buy a condo. However, the FHA has to approve condominiums before allowing people to take out FHA-insured loans to purchase them — and finding a condo that’s gone through this approval process (or getting one you have your eye on approved) can be a bit of a challenge. But it’s not impossible! Read on to learn more about FHA-approved condos: what it takes to get approval, where to find condos that have already been approved, and the process of getting an unapproved condo past the finish line.
What Is An FHA-Approved Condo?
To understand what an FHA-approved condo is, it helps to understand what the FHA has to do with purchasing a home in the first place. By offering insurance to lenders, the FHA helps consumers secure low-cost loans with less stringent qualification factors. These FHA loans are commonly used for single-family homes, but can also be used for condominiums, provided the condo is approved by the FHA. Thus, an FHA-approved condo is one that can be purchased with an FHA loan. Pretty simple right? Well, let’s take a closer look.
Benefits of FHA Approval for Condo Buyers
FHA condo approval is beneficial for buyers because finding an FHA-approved condo allows buyers to benefit from the lower overall costs of condo ownership compared to single-family homeownership — and enjoy the lower barrier to entry that an FHA loan can offer to lower-income families, first-time homebuyers, and others facing financial hurdles.
However, not every condo can be approved by the FHA. In order to qualify, it must meet the FHA’s appraisal standards, including safety features as well as financial factors. Entire condominium communities can be approved, and, as of August 2019, an individual unit can also be approved — provided it meets requirements including being “complete and ready for occupancy” and being part of a community with at least five units.
How FHA Approval Impacts Condo Sellers
Sellers, too, benefit from FHA condo approval. Condos that can be purchased with an FHA loan are more attractive to buyers looking for home loans with lower costs and more lenient approval requirements, which means FHA approval is a boon for both parties.
First-time homebuyers can prequalify for a SoFi mortgage loan, with as little as 3% down.
💡 Quick Tip: When house hunting, don’t forget to lock in your home mortgage loan rate so there are no surprises if your offer is accepted.
Why Does a Condo Need to Be Approved for an FHA Loan?
When the FHA insures loans offered by private lenders, it does so at some level of risk: The loan may never be repaid, in which case it would lose money paying the lost funds back to the lending bank. But borrower delinquency isn’t the only reason a loan might go unfulfilled; if the condominium is falling apart or not financially viable, that could also increase the risk level of the loan. Therefore, the FHA approves condos on a case-by-case basis to help ensure their physical and financial safety for the lender, borrower, and the FHA itself.
How to Get a Condo FHA Approved
If you’re considering buying a condo that doesn’t yet have FHA approval — and you’d like to get that approval to pursue an FHA loan — you can initiate the approval process on a single-unit basis. (Alternatively, you could reach out to the condominium association to see if it is interested in getting the community as a whole FHA approved.) The approval process will require a variety of documentation as well as an appraisal — again, in order to ensure both the physical and financial viability of the community.
Approval Requirements
To achieve FHA approval, condo communities must be demonstrably:
• Insured
• Compliant with state and local law
• In good financial standing
• In good physical standing
• Free of any legal action
For single-unit approval, a condo must be:
• Part of a complex that is not FHA approved
• Completely built and move-in ready
• Part of a community with at least five units
• Not a manufactured home
Minimum Owner-Occupancy Ratios
The FHA maintains minimum owner-occupancy ratios for complexes attempting to get approved. This figure ranges based on a variety of factors, but is usually somewhere between 35% and 50% — meaning between about a third and about half of the condo units must be occupied by their owners.
Financial Stability and Reserve Requirements
The FHA will also assess the financial stability of the condominium complex in order to ensure it’s likely to continue to stay in business for the foreseeable future. For example, 20% of the annual budget must be set aside for reserves, and three years’ worth of financial documents must be provided.
FHA Insurance Requirements for Condos
FHA-approved condos must maintain up-to-date insurance coverage in order to create financial safety for owners and lenders alike.
Restrictions
Condos that don’t meet the eligibility requirements outlined above may not be suitable for FHA approval — and therefore may not be able to be purchased with an FHA loan.
FHA Application and Documentation
In order to get FHA approval, condos will need to prove they meet the requirements with documentation, including financial information, proof of insurance coverage, inspection reports, and more. If you’re attempting to get a single unit approved, the onus may fall on you as the interested party to get this process started. (The seller, if motivated, may also be able to help.)
The Condo Board’s Role in Securing FHA Approval
In order for an entire condominium complex to become an approved FHA condo, the condo board must first meet to decide whether or not board members want to file for FHA approval. If the vote is in favor of seeking approval, the board will need to aid in filing paperwork to begin the application process and to prove the minimum required eligibility factors are fulfilled.
How Long Does it Take for a Condo to Get FHA Approval?
While specifics will vary and delays can occur, the FHA approval process for a condo may take between two and four weeks on average once all the paperwork is in place. 💡 Quick Tip: Generally, the lower your debt-to-income ratio, the better loan terms you’ll be offered. One way to improve your ratio is to increase your income (hello, side hustle!). Another way is to consolidate your debt and lower your monthly debt payments.
How to Find an FHA-Approved Condo
Fortunately, it’s pretty easy to determine whether or not a condominium you have your eye on is FHA-approved: The U.S. Department of Housing and Urban Development (HUD) offers a searchable database tool that allows you to simply look the property up by address, community name, condo ID, and more.
Leveraging Realtor Expertise
If you have your heart set on purchasing a condo — and on using an FHA loan to do so — a local real estate agent may have the best sense of which complexes in the area are already FHA approved. Some agents may be game to help you get a unit you’re interested in approved on a single-unit basis.
FHA Loan Alternatives for Condos
If you’ve fallen in love with a condo that is, alas, not FHA-approved, take heart: There are different types of mortgage loans worth considering. Many conventional loans these days come with required minimum down payments as low as 3%, though to avoid paying mortgage insurance, you’ll need a down payment of at least 20% of the home’s value. Fortunately, that goal may be a lot more achievable for a condo than a larger single-family home.
In addition, you may be able to use other types of government-insured loans, like VA loans and USDA loans, to buy condos if you qualify. (VA loans are for veterans and their families, while USDA loans are specifically for properties in designated rural areas.)
Benefits and Drawbacks of FHA-Approved Condos
FHA-approved condos, like any other home, have both benefits and drawbacks to consider.
Pros
• Approved FHA condos can be purchased using an FHA loan, which my offer easier-to-meet qualification requirements and lower costs to borrowers
• Condos may be overall less costly to own than single-family homes
Cons
• FHA-approved condos can be harder to find, especially in competitive, fast-moving housing markets
• Getting a condo FHA approved is a process that takes time and effort, and can be difficult for an everyday consumer to take on
The Takeaway
Purchasing an FHA-approved condo can help buyers hop over some of the primary hurdles to homeownership with lower down payment and minimum credit score requirements. However, not every condo meets the FHA’s strict approval criteria — which means hopeful homeowners may have to choose an alternative mortgage loan type (or keep looking for their dream home).
SoFi offers a wide range of FHA loan options that are easier to qualify for and may have a lower interest rate than a conventional mortgage. You can down as little as 3.5%. Plus, the Biden-Harris Administration has reduced monthly mortgage insurance premiums for new homebuyers to help offset higher interest rates.
Another perk: FHA loans are assumable mortgages!
FAQ
Can you purchase a condo with an FHA loan?
If the condo in question is FHA-approved, yes, you can — but not all condominiums meet the FHA’s requirements. In order to discern whether or not the condo you’re looking at is FHA approved, you can use the FHA’s searchable database, which allows you to search by address, condo complex name, and more.
What does it mean when a complex is not FHA approved?
If a condo complex is not FHA approved, it may not meet the FHA’s requirements — or the board may simply have not yet filed for approval, which does take some time, effort, and paperwork to do. It also means that the condos will not be able to be purchased with an FHA-insured loan, at least until such approval is obtained.
Are there specific criteria for FHA approval of condos in certain regions?
FHA-approved condos must be in compliance with all state and local guidelines, which can vary by region — so yes, the specific criteria may vary slightly.
Photo credit: iStock/benedek
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¹FHA loans are subject to unique terms and conditions established by FHA and SoFi. Ask your SoFi loan officer for details about eligibility, documentation, and other requirements. FHA loans require an Upfront Mortgage Insurance Premium (UFMIP), which may be financed or paid at closing, in addition to monthly Mortgage Insurance Premiums (MIP). Maximum loan amounts vary by county. The minimum FHA mortgage down payment is 3.5% for those who qualify financially for a primary purchase. SoFi is not affiliated with any government agency.
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.
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Moving into a new apartment comes with its fair share of costs – monthly rent, move-in expenses and setting up utilities accounts. But, hey, ever thought about going for an apartment where utilities are already part of the rent? It’s a game-changer, and you’re about to learn why more renters are trying to find apartments with included utilities.
What do you get when you rent apartments with utilities included?
Before you get excited, know that not all apartments are created equal. The utilities covered can vary, from the basics like electricity, water, sewage and gas to some fancy ones like internet and cable in modern spots. So, make sure you’re clear on what’s included.
Seven reasons to rent utilities-included apartments
Not every apartment will come with included utilities, but it might be worth the longer search. We’ll show you why here.
One-payment wonder
Forget the hassle of managing multiple bills. With an all-inclusive deal, you just pay your rent – easy peasy. It’s a budgeting dream that saves you time and stress.
Setup-free zone
Moving is chaotic enough without dealing with utility companies. Skip the calls, wait times and research when you move into apartments with utilities included. Your utilities are sorted, and if there’s an issue, it’s your landlord’s headache.
No extra fees
Say goodbye to activation fees and service charges. Everything is set up, ready to roll. Your wallet will thank you, and it’s one less thing on your moving checklist.
Usage freedom
Enjoy guilt-free AC blasting or long hot showers. Living in a utilities-included pad lets you be you without constantly worrying about the impact on your bills.
Steady budgeting
Forget the monthly bill surprises. Lump your utilities with rent, and you’ve got a fixed amount to budget for. No more winter shockers or sweating over the heat bill.
Roommate bliss
If you’ve got roomies, rejoice! Splitting one bill (rent) is way simpler than dividing up a bunch of them. Less math, less stress.
Credit check once
Setting up utilities can mean multiple credit checks. Not cool, right? With an all-inclusive deal, your credit only takes one hit. Less stress on your credit score.
But, what about the cons?
Sure, it sounds like a dream, but reality check – the rent for utilities-included apartments is usually higher. Landlords jack up the price to cover all those included perks. It’s a trade-off – convenience for a bit more cash.
Make life simpler by finding apartments with utilities included
Ready for a stress-free living experience? Check out apartments with utilities included on Apartment Guide – just hit the “Some Utilities Covered” option. Whether you’re staying put or moving, there’s an apartment with your name on it, and utilities included. Easy living, right?
If you’ve been actively house hunting for a while, chances are you’ve come across a real estate listing that was referred to as a HUD home. But what exactly does that mean? Is this type of home worth considering as your next purchase?
Discover everything you need to know about HUD homes and whether this type of home is right for you. While there is some risk involved, the potential for reward is also great. So read on and see if you should start searching for HUD homes in your area.
What is a HUD home?
Owned by the U.S. Department of Housing and Urban Development (HUD), a HUD home is a type of residential foreclosure. Traditional foreclosures occur when a homeowner defaults on their home loan.
If they can’t reach a repayment agreement with their lender, the lender takes ownership of the property. Then, the lender lists the property for sale to get the balance owed on the mortgage loan.
FHA Insurance and Its Impact
Foreclosed properties often sell well below the amount owed to the lender, who then takes a loss on the property. However, if the home is insured by the Federal Housing Administration (FHA), the foreclosure process happens a little differently.
The Federal Housing Administration is actually a department within HUD. It doesn’t make loans directly, but it does help ensure borrowers with a specific type of loan to help encourage homeownership. The FHA also provides mortgage insurance to FHA-approved lenders.
FHA mortgages entice lenders to originate and fund the loan since underwriting standards are slightly less stringent than a conventional loan.
However, when a home financed by an FHA loan goes into foreclosure, HUD reimburses the original lender for the outstanding loan balance. HUD then takes over ownership and sells it to compensate for the cost it paid to the lender.
The Process of Buying a HUD Home
When a regular home is listed for sale, the seller works with their real estate agent to come up with a price based on comparable houses in the area.
When a HUD home is put on the market, it goes through an appraisal process to determine its fair market value. The list price also considers any necessary repairs that are needed in the home.
The HUD Bidding System
With a normal listing, you’d tour the house and make an offer to the seller via your respective real estate agents. It specifically helps to work with an agent who has experience with HUD homes, but it’s not necessary.
While you still tour HUD homes with your real estate agent, the offer process is entirely different. Rather than making a traditional offer, you place a bid. If your agent is registered with HUD, they can submit the bid online for you.
There is a designated bid period. Once yours is submitted, they will compare it to any other bids that have been received. If yours is the highest offer, you’ll get an acknowledgment from HUD.
At that time, your agent will send you a contract, which you have 48 hours to submit to your regional HUD office. This is the only way to lock in the home and get the ownership underway. Otherwise, they could put it back on the market. So, always submit your documents in a timely manner.
HUD Home Buying Process
You often only get one shot at placing an offer on a HUD home, so it’s important to develop an informed strategy beforehand. While you may think it warrants an automatic lowball offer, this isn’t necessarily the case, especially if you live in a competitive real estate market.
In addition to looking at comps in the area and the home’s condition, you can also base your offer on the length of time the home has been on the market. If it’s new on the market, you probably don’t want to come in too low on your offer price. This is unless you’re only interested in the property at a certain price point.
HUD Home Costs and Financing Options
HUD often accepts offers between 85% and 88% of the list price. That’s a good frame of reference when developing your bid unless, of course, someone comes in with a higher offer. If the property has been on the market for several months, you definitely have more leverage in making a lower offer.
Your deposit will generally range from $500 – $2,000. Your mortgage payments will depend on how much your down payment is. The higher your down payment amount, the lower your mortgage payments will be. Closing costs usually average to be about 3-4% of the purchase price of a home. However, if you buy a HUD home, HUD may pay most of your closing costs.
Assessing Risks and Rewards in ‘As-Is’ HUD Home Sales
That’s because, unlike most regular listings, HUD homes are sold as-is. So, regardless of what work needs to be done, HUD will not take care of it to sell the house. But, of course, this is typically true of any foreclosed property.
That’s why it’s vital to have an inspection completed before you make an offer. Unlike other buying processes, you should have the inspection done first. Then, use it to inform your bid offer because you can’t renegotiate based on the results.
It’s definitely worth spending a couple of hundred dollars to ensure the needed renovations are within your scope.
Pros and Cons of Buying a HUD Home
Purchasing a HUD home can be an attractive option for many buyers, offering a unique blend of financial advantages and potential challenges. Understanding these pros and cons is crucial in making an informed decision.
Pros
Competitive pricing: One of the most significant benefits of HUD homes is their affordability. These properties are typically priced below-market value, providing an excellent opportunity for buyers to secure a home at a reduced cost. This pricing advantage makes HUD homes particularly appealing to first-time buyers and those looking for good value in the housing market.
Accessible down payments: HUD homes often come with the advantage of requiring lower down payments. In some cases, buyers may be eligible to make a down payment as low as 3.5% of the purchase price. This lower threshold can make homeownership more accessible, especially for those who may struggle to save for a larger down payment required in traditional home purchases.
Reduced Closing costs: Another financial benefit of purchasing a HUD home is the potential for lower closing costs. HUD may cover a portion of these costs, reducing the overall expenses that buyers need to pay out-of-pocket. This can make the process of buying a home more affordable and less daunting financially.
Cons
‘As-Is’ condition: One of the primary challenges of buying a HUD home is that they are sold in ‘as-is’ condition. This means that the buyer assumes responsibility for all repairs and renovations needed, which can sometimes be extensive. Potential buyers should carefully consider the condition of the property and be prepared for the possibility of unforeseen repair expenses.
Lengthier closing process: The process of closing on a HUD home can be more time-consuming compared to traditional home purchases. This is due to the additional paperwork, approvals, and procedures required by the government. Buyers should be prepared for a potentially prolonged process and factor this into their planning.
Additional financial considerations: While HUD homes can offer lower initial costs, they may require additional financial commitments, such as escrow deposits for repairs. These added expenses can arise from the need to address issues not covered under the ‘as-is’ purchase agreement. It’s important for buyers to be aware of and budget for these potential extra costs.
Financing Your HUD Home Purchase
You don’t need your full offer price in cash; in fact, you can use just about any loan type. The trick is to make sure the home’s condition qualifies for the loan type’s eligibility requirements.
Government-backed loans such as FHA, VA, and USDA loans have stricter requirements than conventional loans. For example, an appraiser for FHA loans looks for the following items:
A lot sloping away from the house
Windows in each bedroom
Chipped lead paint (in pre-1978 homes)
Handrails on stairs
Sufficient heating system
Solid roof and foundation
If the HUD property does not meet these basic requirements, you’ll need to find alternative financing. A conventional loan appraisal is more concerned about the home’s market value and comes with stricter credit and income requirements.
There are options, however, to finance repairs. One is a 203(B) loan, which allows you to finance up to $5,000 in repairs. The other is a 203(K) loan, which finances up to $35,000 in repairs.
Finding HUD Homes in Your Area
Your real estate agent can help you locate HUD homes in your area, especially if that’s their area of expertise. However, to start looking on your own, you can access HUD’s database of homes for sale. This online tool allows you to search several criteria to find the home you want in a specific location.
You can search by state, county, or city, as well as price range and home features. In addition to the number of bedrooms, bathrooms, and square footage, you have the option to search for a limited number of special features, including:
Fireplace or wood stove
Single or multiple stories
Outdoor amenities, like patio, pool, porch, or fence
Parking type
Housing type
Property age
Despite not being as user-friendly as a site like Zillow, the HUD website allows you to browse listings and find something that meets your needs.
Can investors buy HUD properties?
Purchasing a foreclosed home as an investment can be a great idea, assuming you’ve done ample research into your local market.
If you’re ready to jump into the real estate game as a landlord or Airbnb host, you should certainly add the HUD portal to your property source list. However, it’s important to realize that there are a few restrictions for investors.
As we mentioned earlier, HUD properties are listed in bidding periods. The first period is an “exclusive listing period” and only accepts offers from owner-occupant buyers, non-profit organizations, and government entities. In other words, they are initially offered to buyers who intend to live in them as their primary residence.
After that 15-day period, if no offer has been submitted, HUD opens up an extended bidding period to investors. At that point, you may submit a bid to purchase the property as some type of investment.
What happens if a HUD property is not sold?
HUD lists its foreclosure homes for six months before taking other actions. If the home is not sold within that time frame, they can sell the property to a nonprofit or government agency for $1. The home must then be transformed into either affordable housing for families within the community, or benefit the area in some other way.
HUD also offers programs for public servants such as teachers and police officers. This program, called the Good Neighbor Next Door, provides teachers, police officers, firefighters, and EMTs with a 50% discount off the list price of eligible HUD homes.
This program aims to revitalize and strengthen communities by having public servants live and work in the same place.
Is a HUD Home Right for You?
Be aware of the potential for both risk and reward. Start by evaluating your wishlist for a home, whether it’s for yourself or as an investment.
If you’re looking for a move-in ready house, it may not be right for you. It’s also not a good idea if you’re risk-averse. Even if you perform a home inspection, it may not catch every single problem with a home.
Even after the former owner vacates the property, it takes time for the original lender to process the paperwork and transfer the property to HUD. Then HUD must perform an appraisal and go through the listing process. This lengthy process can lead to additional neglect and damage incurred to the property.
The Reality of Distressed Properties
On the plus side, you may have the opportunity to gain some quick equity, depending on the location, condition, and final sales price. This is especially true if you’re willing to buy a fixer-upper.
As long as you understand the process and the associated risks of buying a HUD home, you can potentially put yourself into a better financial situation. This includes a lower monthly mortgage payment and greater home equity.
Just be realistic about what you’re willing to put into a home (both time and money). Furthermore, play out worst-case scenarios and make sure you’re ok with each of them. With an open and informed mind, you could get a great housing deal with HUD.
Frequently Asked Questions
How do I purchase a HUD home?
You can purchase a HUD home by submitting a bid through an approved real estate broker, or by submitting an offer directly to HUD.
Who is eligible to purchase a HUD home?
Anyone can purchase a HUD home. However, certain restrictions may apply, such as income limits and owner occupancy requirements.
Is there a minimum bid requirement for HUD homes?
No, HUD does not specify a fixed minimum bid amount for its homes. The acceptable bid varies based on the property’s appraised value and market conditions. Very low bids are less likely to be accepted, especially during initial periods reserved for owner-occupants. For specific bidding information, consult the HUD Home Store or a real estate agent with HUD experience.
Can I buy a HUD home as a vacation property or second home?
HUD homes are primarily intended for buyers who will use them as their primary residence. There are specific periods during the bidding process when only owner-occupant bids are considered. However, if a HUD home remains unsold after these periods, it may become available for purchase as a vacation or second home.
Is it possible to negotiate the price of a HUD home?
Unlike traditional real estate transactions, the price of a HUD home is generally non-negotiable. HUD homes are priced at fair market value, considering their condition. The bidding process is the primary way to determine the final sale price, and HUD will accept the highest reasonable offer.
How long does it take to close on a HUD home after my bid is accepted?
The closing process for a HUD home can vary, but it generally takes longer than a traditional home purchase. Typically, you can expect the closing process to take anywhere from 30 to 60 days from the acceptance of your bid. This timeframe can be affected by various factors, including the type of financing and the specific procedures of your local HUD office.
Are HUD homes eligible for home warranties?
HUD homes are sold ‘as-is’ and do not come with warranties. Buyers are encouraged to have a home inspection before making a bid to understand any potential issues. However, after purchase, homeowners can independently obtain home warranties from private providers for future protection.
What is the ‘Good Neighbor Next Door’ program?
The Good Neighbor Next Door program is a HUD initiative aimed at encouraging community revitalization. This program offers a significant discount (up to 50% off the list price) on eligible HUD homes to law enforcement officers, teachers, firefighters, and emergency medical technicians who commit to living in the property as their primary residence for at least 36 months.
Want to learn how to make $200 fast? Having some extra income can be useful for unexpected needs or saving up money. Maybe you need money for rent, something broken on your car, or a medical bill. Maybe you have something that you’re saving for, and you just want to make some extra cash. If…
Want to learn how to make $200 fast?
Having some extra income can be useful for unexpected needs or saving up money. Maybe you need money for rent, something broken on your car, or a medical bill. Maybe you have something that you’re saving for, and you just want to make some extra cash.
If you want to make $200 fast, there are many ways to do it: You could sell things you don’t need, create and sell handmade items, use your car or home to make money, and more.
There are lots of ways to make $200 fast!
My top picks to make $200 fast
Selling items from around your home, such as clothing, an old cell phone, furniture, and more. You can learn how to flip your stuff in this free webinar.
Make $65+ per hour in a focus group sharing your opinions with User Interviews.
Rent out your RV with RVShare.
Freelance proofread and learn how to become a proofreader in this free webinar.
Start a blog (this is what I do!) and learn how in my free How To Start a Blog course.
Best Ways To Make $200 Fast
Below are the best ways to make $200 quickly.
Selling items from around your home
The quickest way to make $200 fast is to find stuff you already own and sell it.
When you’re in a pinch for cash, your home can be a treasure trove of items you can sell. Start by gathering gently used items or those you no longer need, such as electronics (phones, laptops), furniture (couches, coffee tables), clothing and accessories (especially branded ones), gift cards, and collectibles and antiques.
You can sell on Craigslist (ideal for bulkier items like furniture, tires, cars, etc., where local pickup is more practical), Facebook Marketplace (great for reaching a large local audience quickly), eBay (perfect for unique or more valuable items where shipping isn’t an issue), thrift stores (get cash on the spot at places like Plato’s Closet), having yard or garage sales (typically get less per item but can get rid of a lot of things at once), and more.
I have sold a ton of used items over the years such as clothing, jewelry, car tires, furniture, and more. It is easy and someone probably wants what you’re selling.
Recommended reading: 16 Best Selling Apps For Selling Stuff Online And Locally
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This free workshop will teach you how to get into the flipping business. It will teach you how to resell furniture, electronics, appliances, and anything else you can find.
Rent out your storage space
If you’ve got extra space in your home, be it an attic, basement, or spare room, renting it out for storage is an excellent way to earn extra cash.
A site to use to rent out your space is Neighbor. This website helps you earn money by renting out space you’re not using.
You can make up to $15,000 a year by renting out your garage, driveway, basement, or even a closet with Neighbor. You get to choose the prices and decide which reservations you want to say yes to and host.
Take paid online surveys
Earning $200 a day just by answering surveys isn’t normally possible (unless you are doing focus groups or paid research studies), but you can reach your goal by combining survey earnings with other ideas.
When I was repaying my student loans, I answered lots of surveys each week. I did this before work, during lunch, or after work. It was convenient because I could do it whenever I had free time.
Survey companies pay you for answering surveys, watching videos, and testing products. Sometimes, you might even receive free products to evaluate. The best part is that joining survey companies is free!
Some of the paid online survey companies I recommend are:
Here are 11 Paid Online Survey Sites if you want to learn more.
Answer questions in a focus group
A focus group is like a paid online survey, as I mentioned before, but you can make a lot more money from it.
I’ve done a focus group in the past that paid me around $400 for 75 minutes of my time. While that’s a bit more than usual, most focus groups pay anywhere from around $50 to over $100 per hour. Compensation differs significantly depending on the study’s length and topic, but higher-paying studies do exist.
Lots of consumer research companies pay people like us to share our opinions. The companies use our feedback to make their products and services better.
One focus group company that I recommend is User Interviews. User Interviews recruits participants to answer surveys and share their feedback.
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User Interviews pays very well for market research studies and these are some of the highest paying online surveys, with each paying $50 to $100 or more. The average pays over $60.
Play games on your phone
If you’re looking to make $200 quickly, your smartphone can be a surprisingly interesting way. By playing games on your phone, you can earn real money.
Game apps pay real money rewards because they make money from ads and in-app purchases. They share a part of their earnings with you to motivate you to keep playing their games.
The best game apps that pay real money include KashKick, Swagbucks, and InboxDollars.
When picking gaming apps to make money, check reviews and learn about how you get paid. Be careful with apps that ask you to pay to play or promise rewards that sound too good to be true. Also, keep track of the time you spend playing games to make sure it stays worth it.
Rent out your unused RV
If you have an RV that’s sitting idle, you may want to turn it into income by renting it out. Many people have RVs they don’t use very often. Instead of letting it just sit there, you might make extra money by renting it out. Yes, you could potentially make $200 a day by renting your RV to others.
Popular sites such as RVshare work similarly to Airbnb, connecting you with potential renters. They handle the bookings and insurance, making the process easier.
Another idea is to park your RV somewhere and list it on Airbnb. I’ve seen many RVs, campers, trailers, and more on Airbnb available for rent. Just make sure that you can rent it out in the location you want to leave it, as not all campgrounds or neighborhoods may allow it.
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RVshare is one of the best money-making sites because it helps travelers save money by cutting out the middleman and offering RV rentals directly from RV owners. If you have an RV that is sitting around, then you may be able to make $100 to $300+ a day.
Proofread
If you like finding mistakes in written content and want to know how to make $200 a day, proofreading could be a good fit for you. It can be a part-time job or a full-time work-from-home career too.
It’s a job where you can make $200 in a day, and many proofreaders earn around $40,000 a year or even more.
Proofreaders check for mistakes in articles, ads, books, student papers, emails, transcripts, and more.
To become a proofreader, all you need is a laptop or tablet, an internet connection, and the ability to spot mistakes and errors.
I recommend signing up for the free 76-minute workshop, where you can learn more about becoming a proofreader. You can sign up for the free How To Become a Proofreader workshop here.
Recommended reading: How To Become A Proofreader And Work From Anywhere
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This free 76-minute workshop answers all of the most common questions about how to become a proofreader, and even talks about the 5 signs that proofreading could be a perfect fit for you.
Virtual assist
A virtual assistant (VA) is someone who helps a person, company, or business owner with administrative and business tasks, making sure everything runs smoothly. They’re just like in-person assistants, but they work from home and online.
I used to work as a virtual assistant for small business owners. I didn’t have prior experience, but I learned the skills while on the job. It not only helped me earn a good income but also allowed me to work from home. I also have virtual assistants who work for me, so I know how helpful they are! This is a very in-demand job field to get into.
Virtual assistant tasks may include:
Managing a company’s Facebook account
Managing a calendar
Scheduling appointments and meetings
Creating slideshows and presentations
Managing an email inbox and handling customer support
And more.
Typically, when you begin working as a virtual assistant, you might earn around $15 to $20 per hour. However, in some cases, you could start with twice or even three times that amount. It depends on the type of work you do and the services you provide.
This can be a full-time job or a side hustle too!
You can learn more at How I Earn $10,000 Per Month From Home as a Virtual Assistant.
Selling handmade goods and crafts
If you want to earn an extra $200 fast, selling the things you make by hand, like crafts or handmade goods, is a great idea.
A popular place to sell handmade goods includes Etsy, which has a worldwide audience looking to purchase unique handcrafted items. You can also sell via social media or even rent a booth at a local craft fair.
You can sell all different kinds of handmade items such as jewelry, soap, furniture, art, photography, clothing, personalized gifts (such as engraved items), and more.
I have personally bought handmade goods all of these ways.
Freelance write
A person who freelance writes can make $200 in a single day.
Freelance writers work for clients, like websites, magazines, marketing teams, book publishers, and others. They write different things such as articles, blog posts for search engine optimization (SEO), marketing content, newsletters, press releases, and more.
You can find freelance writing jobs in many ways such as by searching on Fiverr or Upwork, looking to see if any of your favorite sites are hiring writers, networking with people in the industry you want to write in, and more.
I’ve been a freelance writer for a long time, and many of my friends also have this job. It’s a great way to make $200 a day or more all from home.
You can learn more about how to find freelance writing jobs below:
Transcribe
If you’re looking to make $200 quickly, transcription could be a great option. With a fast typing speed and strong language skills, you can convert audio files to text for pay.
Transcription is when you change spoken words from audio or video into a written document. Many businesses need transcriptionists because they need to convert audio and video into text.
New transcriptionists usually make about $15 per hour when they begin, and the good thing is, you don’t need any previous experience to get started.
Recommended reading: 18 Best Online Transcription Jobs For Beginners To Make $2,000 Monthly
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In this free training, you will learn what transcription is, why it’s a highly in-demand skill, who hires transcriptionists, how to become a transcriptionist, and more.
Blog
Starting a blog doesn’t instantly make you $200 on the first day because it takes time to set it up. However, with time and effort, bloggers can make $200 a day in the future.
A blog is a website with articles, like what you’re reading now. You can create a blog on topics such as personal finance, recipes, travel, pet care, family life, and more. There are many different types of blogs out there.
You can make money from a blog by partnering with companies for sponsorships, showing ads, doing affiliate marketing (for example, selling a product listed on Amazon), and selling products like ebooks, candles, T-shirts, and more directly on your blog.
This is what I do to make money, and I earn well over $200 a day online. It did take me around 6 months to make my first $100 with my blog, so it does take time to get started. It took me about a year to reach around $5,000 a month and around 2 years to get to $10,000 a month.
You can learn how to start a blog with my free How To Start a Blog Course (sign up by clicking here).
Another idea similar to this is to start a YouTube channel, TikTok, Instagram, and more!
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Want to see how I built a $5,000,000 blog?
In this free course, I show you how to create a blog, from the technical side to earning your first income and attracting readers.
Dog walker
Becoming a dog walker is a fun way to make some quick cash if you love pets, especially dogs. You can easily get started by signing up with well-known dog walking apps dedicated to connecting dog walkers with pet owners.
Here are some steps to help you begin:
Register on Dog Walking Apps – Platforms like Rover are great for finding dog walking jobs. You could earn around $15 to $18 per hour depending on your experience and the local demand for dog walkers.
Create a Profile – Highlight your experience with dogs and any references you might have.
Set Your Availability – Decide on the days and hours you’re available to walk dogs and set your schedule.
My sister as well as my husband’s mother are both dog walkers on Rover, and they both enjoy this side hustle.
Sell printables on Etsy
Selling printables on Etsy can be a quick way to earn some extra cash.
Printables are digital files that customers can download and print themselves. These can include things like planners, art prints, stickers, learning tools, worksheets, invites, and organizational tools.
You most definitely have used printables in your life, and so have most people. I buy printables all the time because they make my life so much easier – and it’s so nice to just print things out and have them more easily accessible for when I need them.
One great thing about selling printables is that you don’t have to print and send anything yourself. The customer pays for the design, and they print it out on their own.
Here’s how you can get started:
Step 1: Find Your Niche
Determine what kind of printables you’re passionate about. Many people specialize in a certain type of printable, such as home, wedding, organizing, education, etc.
Research what’s popular and in demand. See what kind of printables people are actually buying right now.
Step 2: Create Your Printables
Use design tools like Canva or Adobe Illustrator.
Make sure your design is original and appealing.
Step 3: Set Up Your Etsy Shop
Create a memorable and easy shop name.
Set up shop policies and fill in all the details.
Step 4: List Your Products
Take attractive product photos or create digital mockups.
Write clear and compelling product descriptions so that potential customers can find your printables.
Price your printables competitively.
Step 5: Promote Your Shop
Utilize Etsy’s built-in SEO by using relevant keywords in your listings.
Share your printables on social media platforms.
Consider Etsy Ads for additional promotion.
You can learn more at How I Make Money Selling Printables On Etsy.
Do you want to make money selling printables online? This free training will give you great ideas on what you can sell, how to get started, the costs, and how to make sales.
Deliver groceries and food
Grocery delivery is a service that is becoming more and more popular. I’ve used it several times myself when I didn’t have time to shop or didn’t have a car available. This service is likely to keep growing.
If you’re looking to make quick cash, you can try delivering groceries and food. You have the flexibility to create your own schedule, and payment can be received pretty quickly – sometimes even within an hour.
Delivering groceries is a popular extra job, and all you need is a valid driver’s license and a car.
You get paid for each delivery and keep all your tips. Platforms like Instacart and Shipt can help you earn around $15 to $20 per hour.
Here are a couple of options for you to start earning with food delivery:
Instacart: As an Instacart shopper, you can choose to shop for groceries or both shop and deliver to customers. Being able to cash out your earnings instantly is a big plus.
Shipt: Enjoy shopping at stores like Target and CVS? With Shipt, you can earn by shopping for others. It’s a great way to combine earning with a task you already enjoy.
Sign up to become an Instacart shopper here.
Related to this: You can also deliver restaurant meals in your spare time through companies like DoorDash and Uber Eats.
Drive for Uber or Lyft
Earning $200 quickly may seem hard, but you may be able to reach this goal by driving for ride-sharing services like Uber or Lyft.
Here’s what you need to know:
Sign Up – Both Uber and Lyft require you to have a valid driver’s license, meet age requirements, pass a background check, and have an eligible car.
Flexibility – You have the freedom to choose your working hours. Whether it’s an hour, over the weekend, or throughout the week.
Earnings – Income can vary, but it’s possible to earn between $20 to $25 per hour on average. At this rate, driving for 10 hours can help you reach your $200 target.
Maximize Promotions – Keep an eye out for special promotions or peak time surge pricing (such as by driving during weekend nights or during a baseball game) as these can really boost your earnings.
Expenses like gas and vehicle maintenance will come out of your earnings, so it’s important to work efficiently and choose high-demand times and areas to increase your income.
Tutor
Tutors who know subjects well, like math, language, science, graphic design, and more, help students get better at those subjects.
Becoming an online tutor depends on the subject you want to teach. You need experience in that area, but there are options for beginners too. Tutors for advanced subjects, like calculus or college entrance exams, usually earn more than those teaching simpler topics.
Rates vary from $15 to over $100 per hour, depending on the subject and where you offer your tutoring services.
Read more at 11 Best Places To Find Online Tutoring Jobs (Make $100+ an hour).
Sign up for quick Craigslist jobs
You can make $200 quickly using your local Craigslist, which has short-term jobs and side hustles listed under “gigs.”
Some gigs I’ve seen include painting a room, running errands, passing out flyers, handyman work, loading a moving truck, shoveling snow, pet sitting, transporting a boat, and more.
You can also find quick gig side hustles through a company called Taskrabbit as well!
Note: When using Craigslist for odd jobs, be cautious of scams. If something appears too good to be true, it probably is. For instance, no one is likely to pay you $2,000 for a mystery shop or a 30-minute survey. It’s important to stay alert and choose opportunities that are realistic and trustworthy. Simply skip it if you have doubts!
Get a roommate
If you’re looking to make $200 quickly, getting a roommate can be one way to do so, and if you have an extra room at home, you can make extra money by renting it out on platforms like Airbnb or finding a long-term roommate.
Renting out a room long-term could earn you around $200 or much more, depending on the room and its location. It’s a good way to utilize your extra space for additional income.
I have personally had several roommates in the past, and it was a good source of income. Plus, we had the extra space anyway that was unused. We charged around $400 a month per room, but nowadays you can definitely get a lot more (especially depending on where you live).
Here’s a quick step-by-step guide to finding a roommate and getting paid:
Advertise Your Space – You will need to find ways to get the word out about the spare room you want to rent out. You can do this on Craigslist, your personal Facebook page, placing a post in a local Facebook group, and more.
Vet Potential Roommates – You don’t want just anyone living with you as they will be sharing your space! Here are some ways to vet potential roommates:
Interviews: Have a conversation to make sure everyone is compatible.
References: Ask for and check personal and rental references.
Discuss Financials – This is all about money, so money definitely needs to be talked about and agreed on. You’ll want to think about things like:
Rent: Determine the monthly charge for rent.
Utilities: Decide how you’ll split costs like electricity, internet, and water. Will the monthly rent include all of the bills or will you split the utilities?
Set House Rules – Rules like quiet hours, guest policies, and cleaning responsibilities help avoid conflicts.
Create a Formal Agreement – Writing an agreement will lay everything out so that there is no confusion later.
Lease Addendum: If you have a lease, add your roommate officially.
Roommate Agreement: Outline terms of rent, bills, and house rules.
To learn more about renting out your spare room, I recommend reading A Complete Guide To Renting A Room For Extra Money.
If you want to take it a step further, you could even get into real estate investing. You can learn more about this option at How This 34 Year Old Owns 7 Rental Homes.
Rent out baby items, such as a crib
If you’re looking to make $200 fast, you can rent out your gently used baby items to traveling families. By listing a crib, stroller, or car seat on rental platforms, you can help ease the travel burdens for parents while earning extra cash.
Here are some ideas of what you can rent out:
Cribs
Strollers
Car seats
High chairs
Toys
A website called BabyQuip lets you rent out baby equipment. On average, people using BabyQuip can make about $1,000 a month, and some earn over $10,000 monthly.
Redeem credit card rewards
If you have a credit card, then there’s a good chance that you are earning points by simply spending like you normally do.
Or, you could even sign up for a new card that has a good signup bonus to earn more points.
With rewards credit cards, you can turn your points into cash back. Here’s how it works: whenever you use your credit card to buy something, you earn points as a reward for spending money.
I have rewards credit cards and I earn points every single time I shop or pay a bill, and I don’t have to do anything special. Just pay my bills and expenses like I normally do! In fact, I just signed up for a new rewards credit card with a great signup bonus today with a signup bonus value of over $800.
Two credit cards that I personally like include:
Important note: Making the most of credit card rewards is smart only if you use your credit card responsibly. It’s not a good idea to accumulate debt just to get rewards because debt with interest is neither free nor beneficial. To really earn money from credit card rewards, you will want to make sure to pay your credit card balance in full every month.
Frequently Asked Questions
Below are answers to common questions about how to make $200 quick.
How can I make a quick $200?
If you want to learn how to make $200 fast in a day, then I highly recommend finding items from around your home to sell, like clothing, jewelry, and video games. This is the easiest way to get started as you probably already own things you can sell.
How can I make an extra $200 a week?
If you want to make an extra $200 a week, I recommend freelance work, which might include writing, graphic design, or proofreading. Also, renting out things you already have, like a spare room, can be a great way to make passive income.
What items can be sold to quickly earn $200?
Look around your home for electronics, clothing, or collectibles that are in good condition but you no longer need or want. You may be able to find lots of things to sell (and have a yard sale) and/or find one or two big things to sell.
How to make $200 fast online from home?
I’ve done a lot of things on the list above to make $200 fast online from home, such as freelance writing, blogging, selling items online, taking part in a focus group, and more.
How To Make $200 Fast – Summary
I hope you enjoyed this article on how to make $200 fast in a day.
As you learned above, you can earn $200 fast by doing a lot of different things, such as by freelancing, starting a business, renting out something you already own, playing games, and more.
The key is to choose what fits your life, how much time you have, and your money needs right now.
What do you think is the best way to make $200 fast?
Some of the most popular interior design styles include industrial, nautical, Scandinavian and Bohemian designs. These styles are all distinct from each other, blending different elements to create a unified look. Designers draw on these different styles when searching for thematic inspiration for interior redesigns or home renovations.
One of the timeless interior designs is the mid-century modern style which emerged during the mid-1900s. Inspired by the Bauhaus style, the mid-century modern approach is set apart by its classic, understated look. Simple yet elegant, its distinguishing features include sleek lines with minimal ornamentation.
Adopting a mid-century modern style to your home is one of the most practical ways to redecorate your space. But how can you achieve a mid-century modern look for your home?
Mid-century modern: A mainstream trend?
Trends come and go. What was famous decades ago can make a comeback in today’s world, for instance. That’s why the mid-century modern interior style isn’t a new concept.
If you’ve seen the show “Mad Men,” it can help give you a good idea on what the style is all about. Critics argue that it’s one of the most seductive shows on television — after all, it has mesmerized British audiences with its tales of Manhattan power struggles, illicit relationships, political intrigue and portrayal of life during the 1960s.
But what truly sets the show apart is its reputation for period accuracy. The sets were specifically designed to reflect East Coast interiors in the 1960s. In fact, the show’s production team worked with Herman Miller to create period-appropriate furnishings and artworks.
The show features a muted color palette made up of teal blues, burnt oranges and olive greens set against a backdrop of rich browns and golds. The set also includes iconic pieces of furniture, such as Roger Sterling’s olive buttoned couch and the padded velvet headboard from the Drapers.
It’s no surprise that the show brought mid-century modern designs back into the mainstream.
Stripping it down to the bare essentials
If “Mad Men”taught its viewers anything, it’s that it doesn’t take too much work to redesign your interiors and give it a mid-century modern appeal. After all, the style’s distinguishing features include an emphasis on functionality. That means adopting a minimalist approach to design, which includes uncluttered and sleek lines with minimal fuss.
In a nutshell, simplicity is the name of the game. It’s all about stripping things down to the bare essentials and letting function take center stage. In a similar vein, adopting this style entails reducing clutter and focusing on a single focal point.
Adapting the mid-century modern interior style
One of the most exciting parts about mid-century modern design is that you can let your imagination run wild. Even though the style is similar to minimalism, it doesn’t mean that you have to limit yourself to simple designs. In fact, this style gives you the freedom to experiment with color.
Simple shapes and lines turn color into a necessary layer of visual interest. Mid-century designers used color boldly by incorporating bright colors here and there. The result: a bright and cheerful look that reflected America’s optimism during the 1950s.
Acknowledging the forces of nature
Apart from streamlined patterns and bold colors, the mid-century modern interior look has a strong connection to nature. And this translates to more items and furniture pieces made from natural materials like leather, wood and cotton.
This is where area rugs can help achieve overall balance in interior design. Their subtle, earthen appeal can add to your home’s warmth. They also pull different visual elements together by making some of your furniture pieces stand out — after all, these rugs can also be displayed on the wall.
Tamarian area rugs, in particular, are a fantastic addition to any space because its classic charm can help juxtapose your contemporary-style furniture pieces on display.
For more inspiration, you might want to go over the work of famous interior designers like George Nelson, Edward Wormley, Eero Saarinen, Isamu Noguchi and Jens Risom.
Turning your interior into a true work of art
With enough research and the right furniture, you can create a mid-century modern interior look for your home. After all, its clean lines, bold colors and attractive simplicity has captured the hearts and minds of those looking to brighten up their indoor space. And what better way to add a unique twist to your home?
Whether you want to turn your room into a space that will rival the set on “Mad Men”or just make your home a little more livelier, you’re on the right track. Since the style prioritizes function over form, you’re changing your indoor space for the better.
Kris Trecer is a freelance writer. Her favorite thing to do when she is at home is to play with her dog.
Both 15-year fixed and 30-year fixed refinances saw their mean rates sink this week. The average rates for 10-year fixed refinances made gains.
30-year fixed refinance: 7.02%
15-year fixed refinance: 6.37%
10-year fixed refinance: 6.24%
Refinance rates remain relatively high, and millions of homeowners are keeping their original mortgages until rates ease more. Though home loan rates have been dipping since November, current rates are still well above the 3.5% average on existing mortgages, according to Mark Zandi, chief economist at Moody’s Analytics. And, although refinancing activity has picked up recently, the overall level of refinance applications is still very low compared to early 2021. “Rates will need to fall substantially more for refi activity to meaningfully increase,” said Zandi.
With the Federal Reserve taking its third consecutive pause from its aggressive rate-hike policy and promising interest rate cuts throughout this year, the opportunity to refinance might come sooner rather than later.
About these rates: Like CNET, Bankrate is owned by Red Ventures. This tool features partner rates from lenders that you can use when comparing multiple mortgage rates.
Current mortgage refinance rates
In today’s high-rate environment, refinancing is less attractive. Rates are currently between 6% and 7%, but your personal interest rate will depend on your credit history, financial profile and application.
Here are the average refinance rates provided by lenders across the country. We track refinance rate trends using information collected by Bankrate:
Average refinance interest rates
Product
Rate
A week ago
Change
30-year fixed refi
7.15%
7.23%
-0.08
15-year fixed refi
6.37%
6.43%
-0.06
10-year fixed refi
6.24%
6.17%
+0.07
Rates as of Jan. 12, 2024
What does it mean to refinance?
When you refinance your mortgage, you take out another home loan that pays off your initial mortgage. With a traditional refinance, your new home loan will have a different term and/or interest rate. With a cash-out refinance, you’ll tap into your equity with a new loan that’s bigger than your existing mortgage balance, allowing you to pocket the difference in cash.
Refinancing can be a great financial move if you score a low rate or can pay off your home loan in less time, but consider whether it’s the right choice for you. Reducing your interest rate by 1% or more is an incentive to refinance, allowing you to cut your monthly payment significantly. But today’s mortgage market conditions aren’t ideal. If you decide to refinance, compare rates, fees and the annual percentage rate — which reflects the total cost of borrowing — from different lenders to find the best deal.
30-year fixed-rate refinance
The current average interest rate for a 30-year refinance is 7.15%, a decrease of 8 basis points from what we saw one week ago. (A basis point is equivalent to 0.01%.) A 30-year fixed refinance will typically have lower monthly payments than a 15-year or 10-year refinance, but it will take you longer to pay off and typically cost you more in interest over the long term.
15-year fixed-rate refinance
The average rate for a 15-year fixed refinance loan is currently 6.37%, a decrease of 6 basis points compared to one week ago. Though a 15-year fixed refinance will most likely raise your monthly payment compared to a 30-year loan, you’ll save more money over time because you’re paying off your loan quicker. Also, 15-year refinance rates are typically lower than 30-year refinance rates, which will help you save more in the long run.
10-year fixed-rate refinance
The current average interest rate for a 10-year refinance is 6.24%, an increase of 7 basis points from what we saw the previous week. A 10-year refinance typically has the lowest interest rate but the highest monthly payment of all refinance terms. A 10-year refinance can help you pay off your house much quicker and save on interest, but make sure you can afford the steeper monthly payment.
Where will refinance rates end up?
When mortgage rates hit historic lows during the pandemic, there was a refinancing boom, as homeowners nabbed lower interest rates on their home loans. But refinancing might not actually save you money right now. “Refinancing for some people will make sense if they have rates above 8%,” said Logan Mohtashami, lead analyst at HousingWire. “However, with all refinancing options, it’s a personal financial choice because of the cost that goes with the loan process,” Mohtashami said.
If economic data goes in the right direction, 2024 should lead to lower rates. “The best bet there is to keep an eye on day-to-day rate changes and have a game plan on how to capitalize on a big enough drop,” said Matt Graham of Mortgage News Daily.
When should I refinance?
Homeowners usually refinance to save money, but there are other reasons to do so. Here are the most common reasons homeowners refinance:
To get a lower interest rate: If you can secure a rate that’s at least 1% lower than the one on your current mortgage, it could make sense to refinance.
To switch the type of mortgage: If you have an adjustable-rate mortgage and want greater security, you could refinance to a fixed-rate mortgage.
To eliminate mortgage insurance: If you have an FHA loan that requires mortgage insurance, you can refinance to a conventional loan once you have 20% equity.
To change the length of a loan term: Refinancing to a longer loan term could lower your monthly payment. Refinancing to a shorter term will save you interest in the long run.
To tap into your equity through a cash-out refinance: If you replace your mortgage with a larger loan, you can receive the difference in cash to cover a large expense.
To take someone off the mortgage: In case of divorce, you can apply for a new home loan in just your name and use the funds to pay off your existing mortgage.
How to find the best refinance rate
The rates advertised online often require specific conditions for eligibility. Your personal interest rate will be influenced by market conditions as well as your specific credit history, financial profile and application. Having a high credit score, a low credit utilization ratio and a history of consistent and on-time payments will generally help you get the best interest rates. To get the best refinance rates, make your application as strong as possible by getting your finances in order, using credit responsibly and monitoring your credit regularly. And don’t forget to speak with multiple lenders and shop around.
Refinancing can be a great move if you get a good rate or can pay off your loan sooner, but consider whether it’s the right choice for you at the moment.
Although what lies ahead in the world of real estate and mortgage services in 2024 remains a bit uncertain, it’s now crystal clear that, beyond the already-tired suggestion that we “survive until ’25,” quite a few businesses will be seeking to find additional sources of revenue.
One potential stream that quickly comes to mind is the potential of capturing title and closing business. Accordingly, we’ve already seen any number of builders, mortgage lenders and real estate firms building new affiliated business arrangements (ABAs) or entering into partnerships that put them into the game for settlement services revenue.
That activity will only increase as we move through the year. Here’s why.
The full impact of the Burnett verdict has yet to be seen
The final disposition of the Burnett vs. NAR decision likely won’t be seen for years as the result works its way through the courts. For the most part, many brokerages and real estate agents on the buyer’s side of the transaction have continued on with a “business as usual” approach until we have certainty as to the true impact. And yet, in combination with what remains an uncertain market, more and more teams and brokerages will likely have the incentive to increase revenue and remove the uncertainty from the buying side well before they have to.
It’s entirely possible we’ll see the continuation of the trend towards team selling in the wake of Burnett. It’s not hard to imagine an approach where the listing agents take the lead on the front end of a transaction while a team of buyer agents works with them in the background. Such an approach would likely tend toward a transactional, brokerage-focused revenue model.
In these cases, it would be logical for teams and brokerages not only to seek out additional revenue, but to retain greater control over a transaction from start to finish, which affiliated title operations can bring. In building such arrangements, the real estate firm would have greater control over the experience, hopefully speeding the process from start to finish and delivering a smoother overall customer experience. It won’t be the first time this industry loudly extols the virtues of one-stop shopping.
Here’s who will be seeking to build and grow ABAs…and who shouldn’t
Naturally, until we see a significant upturn in overall origination volume, it won’t just be brokerages and teams seeking to build ABAs or enter into title partnerships. Lenders and builders have also shown a heightened interest at a time when construction materials remain costly, labor costs and pay rates are elevated and interest rates remain high.
At the same time, a more controlled closing experience could help address closing delays arising from the lender’s side or the construction process. While it’s easy for a third-party closing firm to point fingers and shift the blame in such instances, an affiliated operation is “part of the team.” No one will be thrown under the bus in such situations. Accordingly, there are multiple compelling reasons for lenders and builders to consider an affiliated title operation.
Far too often, however, a non-title business will focus on the potential for new revenue without fully considering the cost and the burden that comes with building any new business.
To slightly oversimplify it, a true affiliated arrangement likely won’t pass regulatory scrutiny if the arrangement isn’t being run like a viable business, with any and all partners not fully engaged. Businesses hoping to simply refer their customers to an affiliated arrangement in exchange for a cut of the settlement fees have learned this the hard way.
So when should a builder, real estate firm or lender consider other alternatives to an ABA, such as partnering with an existing title agency? For starters, if there’s no long term strategy (IPO, build to sell in five years) in place, the arrangement is off to a bad start. “Let’s see how we do” is not a strategy for starting most businesses and it won’t work for an ABA, either.
Other offshoots of this philosophy (or lack thereof) include the parent business not having some way of actively being involved in the day-to-day operation of the ABA. Or perhaps the venture is woefully undercapitalized because of mistakes in building out a pro forma and business strategy.
Do you have a plan for how the affiliated operation will capture new business — and not just from your own operation? For many reasons, this can get overlooked as well, and it’s seen often in affiliated arrangements that fail quickly.
Finally, geography — often the impetus for building an ABA or entering a partnership with a title agency — is a major factor in planning an affiliated title operation. Where will the business come from? State by state and sometimes, even county by county, the new operation will have to undergo the same licensing (and compliance processes) any other new title business would. This takes time, expertise and funding. You might even be required to have a brick-and-mortar operation in that state or county.
If you’re not planning to invest sufficiently in such requirements, chances are that some other form of true partnership with a title or escrow firm might be a better alternative.
When is an affiliated arrangement the best option for real estate firms, lenders and builders?
For those considering the process of building an ABA, the answer should be “yes” to each of the following questions if an ABA is truly right for you.
Are you planning and willing to treat the ABA like a new business with a long term strategy and exit plan?
Are you truly aware, either from your own experience or with the help of an experienced, successful title professional who has actually built a successful title operation in the real world, of all of the expenses that come with a start-up title operation?
Do you have a viable sales model, beyond expecting all new business from the parent company of the ABA?
Have you arranged for sufficient capitalization?
Finally, do you have qualified people and effective, sustainable systems in place?
Building an affiliated title operation can be a fantastic means of capturing new revenue, which is why ABA activity generally spikes during slower market conditions. But it’s critical to understand that it’s anything but simply agreeing to send the new operation most or all of your clientele in return for a percentage of the fees. You don’t have to be an attorney to know that’s the biggest no-no RESPA provides.
Building a truly successful ABA requires strategy, experience, planning and above all, commitment. While many real estate brokerages and professionals will very likely look to ABAs in the uncertain aftermath of the Burnett decision, it’s important they realize that there’s much more to it than that.
Aaron Davis is the CEO of AMD Enterprises, a conglomerate of eClosing, technology, settlement services and consulting services which includes Florida Agency Network, Closingsuite.com, Premier Data Services and Network Transaction Solutions.
Inside: Looking for delicious, budget-friendly meals? Look no further! This guide has 100+ delicious and frugal recipes that will help you stick to your food budget.
When it comes to keeping your grocery budget in check, meal planning is a powerful tool. It can simplify your life, save you precious time, and stretch your dollars further.
You don’t always need pricey ingredients to whip up something delicious. Creating frugal meals doesn’t mean you have to compromise on flavor.
Sometimes, a frugal meal could mean something cheaper but equally, if not more, delicious than takeout! The key to this art is using simple, inexpensive ingredients, being creative in their application, and not shying away from condiments, herbs, and spices that can elevate your dish.
Remember, eating frugally is not just cost-effective but also simple and stress-free, utilizing common kitchen staples, and easy-to-locate items.
Join me on my mission to make frugal meals that are adored by my family and my thrifty self appreciates.
Frugal Breakfast Ideas:
A frugal breakfast should not equate to boring. Here are a few ways to start your day off right without stressing your wallet:
Waffles/Pancakes: These could be made with basic ingredients like flour, eggs, and baking powder. Top with peanut butter or dust of cinnamon sugar for extra flavor!
Eggs: Cooked to your preference, be it fried, boiled, or scrambled, they are not only easy on the pocket but also a rich source of protein.
Oatmeal: Buy oats in bulk and pair them with over-ripe bananas, pumpkin butter, or a sprinkle of brown sugar. It’s a hearty and filling for just about anyone.
Muffins: Basic muffin ingredients include flour, eggs, and baking powder. For an element of surprise, add in nuts, blueberries, or mashed bananas.
French Toast: With eggs, cinnamon, and loaves of French bread, you can whip up a scrumptious breakfast.
Homemade Bread/Toast: If you’re up to the task, making your own bread could be a money-saving option. This is something I do with sourdough bread. Pair the fresh bread with either sweet or savory toppings.
Omelets: Eggs are a cheap source of protein. Whip up an omelet and serve it with your choice of inexpensive veggies.
Homemade Biscuits: Biscuits are a great addition to any frugal breakfast, with just “milk” and flour ingredients. Pair them with a little meat or enjoy them in butter. Just like my great Aunt Marie made at the ranch.
Choose Spice for Breakfast: This recipe for Mexican baked eggs uses budget friendly canned beans and eggs as a protein source. It’s super simple to make in less than 30 minutes, with eggs baked in a smoky, spicy tomato sauce with black beans, poblanos, and corn. Serve with plenty of corn tortillas for a super satisfying meal.
Frugal Lunch Ideas:
Lunch should be something to look forward to, even if you’re on a tight budget. Here are frugal lunch ideas that keep your tummy and your wallet happy.
Salad: A salad is an excellent choice for a frugal lunch, it’s both cost-effective and healthy. Based on what’s available in your fridge, you can combine different vegetables, proteins, and dressings to create a filling and tasty meal every day.
Sandwiches: The humble sandwich can be as frugal or as lavish as you like. Tuna, grilled cheese, peanut butter, and jelly, ham… you name it, sandwiches offer a great variety.
Homemade Soup: Consider creamy potato soup, creamy vegetable soup, or even curried cauliflower soup. They can be light yet fulfilling, and the ingredients are reasonably priced.
Toast Pizza: Save money by using toast as your pizza base, add what you have in the fridge, top it off with cheese, and cook it under the grill or in the oven.
Baked Potatoes: A toasty baked potato with butter is a delightful, inexpensive lunch. Top it up with fillings such as cheese or broccoli.
Remember, lunch doesn’t have to be expensive to be delicious! Use what you have at home for a more sustainable, economical, and satisfying meal.
Frugal Dinner Ideas:
Dinner is the time when families come together, share their day, and unite over food. There’s a common misconception that frugal foods are bland and monotonous. However, you don’t have to spend a fortune to make dinner delicious and satisfying.
Spaghetti: Who knew that the ultimate comfort food could be so cheap? Combine spaghetti with homemade tomato sauce or cheese, add your favorite seasonings, and voila! You have a delicious meal.
Baked potatoes: Fully customizable and super simple to be a dinner game-changer. Top them with cheese, sour cream, or any other leftovers like chili!
Stir Fry: This is a perfect way to use up any veggies you have. Throw in some meat if you have it, cook with rice and tasty sauce, and your stir fry is ready!
Tacos: Pick up tortillas, get ground beef, or use dried beans, lettuce, and salsa, and there you have your Taco night. You can also swap out the beef for beans, and it’ll still taste delightful.
Breakfast for Dinner: Who said breakfast foods are only for mornings? Whip up scrambled eggs, toast, or pancakes, and enjoy a breakfast-style dinner!
Creating a delicious, nutritious, and frugal dinner can be easier than you might think. It’s all about making the most out of the resources you have, every day.
Recipe Breakdown : Variety Of Frugal Meals
Satisfying Soup & Salad Recipes on a Shoestring
When it comes to frugality, nothing beats the soup and salad combination. These meals are not only hearty and satisfying but also easy on your wallet. With just a few ingredients, these recipes will bring variety and nutrition to your kitchen without putting a strain on your wallet.
Here are a few of our favorite frugal soup and salad recipes:
The Best Chicken Soup Recipe: Simplicity meets flavor without breaking the bank. Utilizing affordable ingredients and leftover chicken, this soup is a testament to how economical choices can still yield rich, comforting results.
Cauliflower and Bacon Soup:
Instant Pot Three Sisters Soup: A blend of corn, beans, and squash.
Root Vegetable Soup: Healthy, comforting, and made with only a few simple and inexpensive ingredients! It’s prepared with veggies like carrots, parsnips, rutabaga, and potatoes simmered in a savory broth.
Healthy Roast Pumpkin and Sweet Potato Soup: Winter favorite loaded with nutrients.
Instant Pot Cabbage Roll Soup: Comfort food at its best.
Smoky Black Bean Soup: Protein packed, tasty, and hearty.
Hearty Lentil Soup: Healthy and will keep you warm during the winter! It’s made with only a few ingredients and requires no special equipment. This soup is made with lentils, veggies, and spices simmered in a savory tomato broth.
Vegan Coconut Curry Lentil Soup: Exotic, aromatic, and down-right delicious.
Instant Pot Split Pea Soup Recipe: Classic soup, ready in no time.
Vegetable Barley Soup: With protein-rich chickpeas, cabbage, potatoes, and the twist of curry spices, this soup is easy, comforting, and delicious!
The Very Best Ham And Potato Soup With Peas: Savory, delicious and economical.
Cheap and Easy Hamburger Soup: Mouthwatering and super easy to prepare.
Creamy Vegetarian Potato Soup: Originally named 45-Cent Potato Soup because that was how much it cost per serving over a decade ago! The cost has increased a bit but this hearty potato soup is still a keeper. Creamy potato soup with veggies and milk – thick, velvety, and hearty. It’s on constant rotation at our house!
Moreover, when it comes to salads, using seasonal produce, beans, or leftover veggies can be an affordable way to create nutritious meals. Add chicken, tuna, or boiled eggs for protein, or keep it simple with fresh greens and a homemade dressing.
Remember, a frugal lifestyle does not mean you have to compromise on taste or variety. It’s about being creative with what you have!
Cut Costs with these Cheap ‘n Cheerful Chicken Recipes
Dinner necessity is the mother of so many amazing chicken dinners! Plus it is an excellent protein option that can be inexpensive, especially if you seize sales or buy in bulk.
Maple Chicken & Potato Supper: This recipe turns an affordable cut of chicken and two types of potatoes into a family favorite.
One-Pot Chicken and Potatoes: Chicken thighs are cheap, add in potatoes, onions, and carrots for a hearty comfort meal.
Leftover Chicken Curry and Vegetables: Lots of recipes use leftover chicken or turkey. But this “All the Leftovers” Chicken Curry also uses your leftover vegetables. Clean out your refrigerator today!
Instant Pot Chicken Tortilla Soup: A quick, deliciously rich, and slightly spicy meal made up of chicken, black beans, and stewed tomatoes.
Crockpot Chicken Tacos: With just 3 ingredients and 5 minutes of prep, this is a lifesaver for busy nights.
Chicken Curry and Quinoa: Simple, tasty, and feels like a treat without the expense.
One Pan Baked Chicken Thigh Recipe with Green Beans and Red Potatoes: This recipe is easy and inexpensive when you grab the chicken thighs on sale! It is easy to prepare, a healthier option and a family favorite!
Cheesy Chicken Quesadillas: A perfect, weeknight meal.
Slow Cooker Chicken Thighs with Potatoes and Carrots: A value for money meal with chicken thighs – one of the cheapest chicken cuts.
One-Pan Chicken Legs with Chickpeas and Quinoa: A wholesome, naturally sweet dish with a few spices.
Easy Cheesy Chicken Taco Spaghetti: Made with pantry staples, this comforting dinner recipe is frugal and filling. Full of pasta, creamy sauce, and canned chicken, your family will be asking for seconds!
Chicken Fried Rice: Uses leftovers efficiently, add veggies, and you have a meal.
Easy Pizza Chicken Recipe: A low carb and high protein meal, especially when you use ordinary cheddar.
Remember, maximizing flavor in cheap chicken recipes often relies on using good quality, inexpensive ingredients, and cooking techniques like slow cooking or sautéing. Happy cooking!
Beautiful Beef Dishes that Benefit Your Wallet
When trying to maintain a frugal lifestyle, using affordable cuts of beef like ground beef, shin, or skirt steak can yield mouth-watering meals that don’t bust the budget. Here are a few beef recipes that are both economical and satisfying:
Ground Beef Stroganoff: A classic comfort food that is simple, quick, and incredibly hearty.
Poor Man’s Stew: An excellent choice for a filling, cheap, and tasty meal for a whole family.
Simple Hamburger Hotdish: This simple hamburger hotdish (casserole) makes delicious use of affordable and easy-to-find ingredients like ground beef, pasta, and tomato sauce. This is a great meal idea to feed a family.
Beef Skillet Nachos: Layer chips, ground beef, and cheese in a skillet for an easy, cost-effective meal.
Homemade Beef and Noodles: An economical-friendly classic that can serve a good number of people.
Tortellini Bake: This 4 ingredient Tortellini Bake uses common ingredients like ground beef and marinara sauce to make a satisfying and hearty meal for families!
Cheesy Ground Beef and Rice Casserole: Across the realms of deliciousness and frugality, this casserole rings the bell.
Beef and Tomato Macaroni Soup: Combining the wholesome elements of beef, macaroni, and tomatoes provides a satiating meal at an affordable cost.
Beef and Vegetable Stir Fry: Brimming with colorful vegetables and protein-rich beef, this dish is a delight to both the stomach and the wallet.
Taco Skillet: It’s the taste of tacos in a convenient and cost-friendly rice skillet.
Classic Stuffed Peppers: Filled with a mixture of ground beef, rice, and a zesty sauce, it’s a comfort meal that’s easy on the pocket.
Sesame-Ginger Beef: This dinner calls for an inexpensive cut of meat.
By creatively utilizing budget cuts and leftovers, you can create economical, hearty, and tasty beef dishes for yourself and your family, fostering a love for cooking while sticking to a money plan.
Money-saving Meatless Meal Marvels
When it comes to cost-saving, meatless or vegetarian dishes are a winner. Not only are they usually cost-effective, but they’re also often packed with nutrients. Here are meatless recipes that are sure to delight your taste buds, without denting your wallet:
Quinoa Edamame Salad with Peanut Sauce: Use cabbage and edamame to make a balanced lunch. The peanut sauce is flavor-packed and uses pantry staples, and the quinoa is easy to swap with rice or pasta.
Vegan Lentil Curry: Packed with nutrition, this dish makes an inexpensive, protein-rich meal.
Jamaican Rice and Peas: Economical rice and beans doesn’t need to be boring. Jamaican rice and peas are easy to make in the slow cooker. This flavorful, easy recipe brings delicious Caribbean flavor to any meal as a side dish or a complete meal on its own.
Spinach Lasagna Roll-Ups: Proof that vegetarian dinners can be delightfully hearty, this twist on classic lasagna is a crowd-pleaser.
Bean, Tomato, and Spinach Stew: A hearty and richly flavored dish that is low cost and satisfying.
Vegan Texas Tamale Pie: Great down-home, budget-friendly meal is perfect to whip up when you need something hearty, healthy, and filling to serve to your hungry family or friends in under an hour. Prepared with basic canned ingredients you might keep in your cupboard, this simple recipe can be easily adjusted to suit your tastes with the groceries you have on hand.
Stuffed Bell Peppers: Fill peppers with a delicious mixture of quinoa, black beans, tomatoes, and spices.
Eggplant Parmesan: Classic Italian dish, easy to make, and delicious to eat.
Pasta e Fagioli aka Pasta and Beans: Feed your family for pennies a bowl with pasta e fagioli. Cucina povera Italian food is the food of peasants, but it is so delicious! Only three inexpensive ingredients are needed to make this quick and easy, nutritious, one pot weeknight meal.
Potato & Zucchini Frittata: Use up your leftover veggies and whip up a quick frittata for dinner.
Tomato Basil Soup with Grilled Cheese: A classic that’s both inexpensive and palate-pleasing.
Vegetarian Stir-Fry: A colorful medley of veggies stir-fried in a savory sauce served over rice.
Spaghetti aglio e olio: This spaghetti aglio olio (with garlic and olive oil) is probably one of the most popular classic Italian pasta recipes and yet it’s so simple, budget friendly and super easy to make!
Butternut Squash Risotto: This dish, while sounding fancy, is frugal and straightforward to make.
Vegan Spaghetti Bolognese: This is a rich, hearty, and flavorful dish that’s lighter on the wallet than traditional bolognese.
Crispy Pan Fried Gnocchi: A simple and quick & inexpensive recipe to make in only 20 minutes for an easy weeknight meal. Crispy gnocchi coated in a light sauce made with garlic, herbs, butter and parmesan.
Implementing meatless meals can significantly cut down on grocery bills, with the added bonus of being healthier and environmentally friendly.
So why not give these recipes a try for your next frugal feast?
Luscious Low-Budget Lunch Ideas
The midday meal can often be overlooked when planning budget-friendly meals. Don’t let lunch blow your allowance! Here are a few low-cost, lip-smacking lunch ideas:
Bean Burritos: Beans and cheese wrapped in a tortilla can be quite satisfying and light on the pocket too.
Tuna Salad Sandwiches: A classic frugal lunch option that’s rich in protein.
Egg Salad Wraps: Egg salad in a wrap is a fulfilling lunch that’s economical.
Homemade Hummus and Veggies: Prepare hummus at home and pair it with fresh veggies for a light and inexpensive lunch.
Mixed Bean Salad: Beans are a powerhouse of nutrition and offer a low-cost lunch option. Mix different beans and dress them up with herbs and spices for a flavorful lunch.
Veggie and Cheese Stuffed Potatoes: A cheesy baked potato with veggies is filling and affordable.
PB&J: Peanut butter and jelly never go out of style and are a great low-cost lunch option.
Tuna Tomato Pasta: Tuna tomato pasta is a delicious healthy and easy recipe that only takes 20 minutes to make. With just a few basic ingredients it’s budget friendly too!
Falafel Wraps: Homemade falafel is quite reasonable and can be wrapped up with pita and fresh veggies for a satisfying meal.
Pasta Salad: Cold pasta salad with veggies is a cheap and filling lunch idea.
Vegetable Fried Rice: Leftover rice, mixed with whatever veggies you have on hand, makes for a delectable and affordable lunch.
When your lunch is as tasty as it is affordable, you’re winning at the game of frugality. Enjoy these luscious lunch ideas without breaking the bank!
Delightful Dinner Recipes That Don’t Dig A Hole In Your Pocket
Dinner is the meal you eagerly look forward to after a long day. Unfortunately, it can also be the priciest meal of the day. But it doesn’t have to be! Here are delightful, cost-effective dinner recipes:
Sloppy Joe Pasta: A homemade mix of pantry staples for a mouth-wateringly filling, budget-friendly twist on the classic Sloppy Joe.
Easy Chilaquiles: Fresh made tortilla chips smothered in homemade salsa, chilaquiles are the best way to make a flavor-packed meal on a budget!
Cottage Pie: Make a delicious cottage pie in the instant pot pressure cooker from scratch. Ideal for using up leftovers and easy to make!
Chicken Pot Pie: Homemade and padded out with cheap, seasonal veggies, it’s a classic favorite, perfect for a weeknight dinner.
Mince & Potato Stew: Heartwarming, flavorful dish that’s easy to make and easier on the pocket.
Linguine with Clam Sauce: Using canned or jarred clams, this linguine dish is made from simple pantry ingredients that won’t break the bank. Dive into a dinner of delicious choice for yumminess.
One Pot Sausage, White Beans, and Kale: It combines flavorful sausage, rich canned tomatoes, white beans, fresh kale, and a few herbs and spices – a cupboard-friendly, inexpensive dinner option.
Tacos: They’re versatile, they’re delicious, and most importantly, they’re cheap.
Potato and Salmon Fish Cakes: Canned salmon and potatoes create a delicious, inexpensive dinner the family will love. They are super easy to make and you can freeze them, too. Even those who dislike salmon enjoy these fish cakes!
Asian-Style Chicken Noodles: This recipe uses leftover chicken and packs a lot of flavors without a lot of cost.
Pasta Arrabbiata: This inexpensive pasta dish is full of garlic, tomatoes, and spicy red pepper flakes. Simple, yet incredibly delicious.
Garlicky Spinach and White Bean Pasta: This recipe is packed with flavor thanks to a surprise, budget-friendly ingredient – tinned anchovies! Simply toss cooked pasta with spinach, white beans, and a garlicky anchovy sauce. It’s easy to throw together for a satisfying weeknight dinner.
Egg Fried Rice: It’s a quick, healthy meal that anyone can cook.
Leftover Pasta Bake: Don’t waste food! Turn your leftovers into a treat with our leftover pasta bake!
Vegetable Stir Fry with Noodles: A quick, healthy dinner full of veggies and flavor.
Low-cost does not mean low taste. These dinner recipes prove just that. So get cooking and start saving!
Put it in Pot and Forget It – Cheap and Easy Crockpot Creations
Using a crockpot or slow cooker can be a real lifesaver for busy individuals or families. Not only does it save time but it’s also a great way to save money by making inexpensive cuts of meat tender and flavorful.
Slow Cooker Sausage and Peppers: Slowly simmered in marinara sauce for a frugal dinner that’s hard to beat! Just serve over pasta or polenta for an easy dinner. Plus, the leftovers are just as delicious for lunches.
Crockpot Beef and Broccoli: The economical version of your favorite takeout dish.
Slow Cooker Black Bean Soup: Inexpensive, full of flavor, and so hearty!
Creamy Crockpot Chicken: Warm shredded chicken and gravy in your slow cooker for the win.
Crockpot Baked Beans: Cheaper and healthier than store-bought!
Crockpot BBQ Chicken: Sweet, tangy, and made with a handful of pantry staples.
Crockpot Lentil Soup: Super hearty, packed with nutrients, and so easy to whip up!
Slow Cooker Pot Roast: The easiest one pot meal and is an instant win for family dinner! Plus, it’s budget-friendly! Easy to prepare for weeknight meals or special occasions alike, this easy pot roast recipe is always a crowd-pleaser!
Slow Cooker Salsa Chicken: Just two ingredients are required for this super versatile recipe.
Crockpot Vegetable Beef Soup: Healthy, hearty, and incredibly easy to make.
Chicken Paprikas Recipe: Use chicken thighs and cauliflower which make it a super frugal meal. If you prefer you can serve it over rice instead of the cauliflower but even her kids agree that the cauliflower version is delicious.
Slow Cooker Mac and Cheese: Yes, even mac and cheese can be done in a crockpot! Even better try this Broccoli Mac Kielbasa Casserole.
Crockpot Ham and Bean Soup: This recipe uses inexpensive and filling beans and veggies, perfect for when you’ve leftover ham.
Slow Cooker Vegan Chili: A vegan twist on this classic comfort food for those chilly days ahead makes for a healthy dinner packed with nutrients brimming with flavor!
Each of these meals will serve you without making a significant dent in your grocery budget. Enjoy the convenience and frugality that slow cooking brings!
Make It Snappy With Instant Pot Recipes
The Instant Pot is a versatile kitchen appliance that’s excellent for fast, delicious meals when you’re on a budget.
Instant Pot Ground Beef Enchilada Pasta: This easy dish combines a few affordable ingredients into a hearty meal that your family will love.
BBQ Beans Instant Pot Recipe: A frugal recipe that’s great as a main dish or a filler for burritos.
Easy Pizza Potatoes in the Instant Pot: A simple pairing of pizza flavors and potatoes for a wallet-friendly dish.
Air Fryer Pita Bread Pizza: Only 5 minutes and a handful of low-cost ingredients to a delicious DIY pizza.
Sweet Potato, Lentil and Chickpea Curry: This vegan instant pot recipe is full of flavor, super hearty and delicious, and extremely reasonable to make.
Mushroom Masala- Mushroom Curry: An exotic and easy-to-prepare mushroom curry that satisfies without stretching the dollars.
Chicken and Sausage Paella in the Instant Pot: Cut down cost by using sausage and chicken thighs for this easy, savory dish.
Instant Pot Tuna Casserole: Comfort on the cheap, using pantry staples.
Fast and Easy Instant Pot Chicken and Rice: Made using basic pantry staples and suitable for both adult and kid taste buds.
These Instant Pot ideas are not only quick and easy to prepare but also budget-friendly. They’re proof that frugal doesn’t mean boring!
Handy Kitchen Tools for Budget-Savvy Cooking
When it comes to frugal cooking, your kitchen gadgets can be your best companions. These tools can save you both time and produce restaurant-quality dishes at home for a fraction of the cost.
Many are the same as frugal home must haves!
Only rely on tools that you use regularly in order to maximize their cost. So, equip your kitchen with these practical, cost-effective tools, and enjoy a more manageable culinary journey.
FAQs: Navigate Your Approach to Cost-Efficient Eats
Eating lunch at work doesn’t have to mean spending a fortune, following these tricks can save you a lot of money:
Meal prep: Plan your meals ahead of time. Invest in a few hours during the weekend or your day off to cook large amounts and portion them out for the week ahead.
Leftovers Are Your Best Friend: Make a bit extra while cooking dinner, and voila, you’ve got lunch for the next day. A yummy, cheap, no-fuss, and no-waste solution!
Pack Your Own Snacks: Trade small shop-bought packs of snacks for a large bag or bulk-buy from a wholesale store. Divide them into small reusable containers for your daily hunger itch.
Invest in a Flask: A good quality thermos flask can keep your homemade soup or stew warm until lunchtime and it’s a lot cheaper than buying soup from a cafe.
Remember, the key is not to take complicated dinners which takes a lot of time. Rather, simple sandwiches, yogurt with fruits, homemade soup even boiled eggs can make great inexpensive lunch options. Planning ahead is key when you’re trying to eat on a budget.
There are several cheap meals you can whip up using budget-friendly ingredients. The absolute cheapest would depend on what you already have on hand in your pantry or the cost of ingredients in your locality.
Rice & Beans: This is a universally cheap and filling meal that can be flavored with some stock, onions, and spices.
Pasta with Tomato Sauce: This is a popular choice when it comes to cheap ideas. All it takes is a rigatoni of your choice, a basic tomato sauce made from canned tomatoes, garlic, and herbs.
Cereal & Milk: A bowl of generic brand cereal and milk is an incredibly cheap meal. It lacks in terms of proteins and fats, but it can be a good quick fix.
Eggs on Toast: Eggs and bread are both cheap elements. Whip up scrambled eggs or make a simple boiled egg sandwich.
Potato Soup: One of the cheapest vegetables around, and they make a filling, simple potato soup.
Homemade Pizza: Using basic homemade dough and simple tomato sauce, you can add anything you have on hand to make a delicious pizza.
Remember, the cheapest dinners typically use basic pantry staples. By having a well-stocked pantry, you’ll be able to whip up a variety of low-cost dinner ideas.
A frugal meal doesn’t equate to scanty or tasteless. Here’s what defines a frugal meal:
Inexpensive Ingredients: Frugal meals predominantly use cheaper ingredients. Find plenty of cheap foods when broke (and you don’t need to be broke).
Fewer Ingredients: Meals with minimal ingredients are typically more economical. They aren’t stuffed with fancy extras, but they make up for it in hearty flavor.
Uses Pantry Staples: Rely on pantry staples like rice, dried pasta, canned goods, and dry baking ingredients.
Repurposes Leftovers: Instead of wasting ingredients incorporate leftovers in innovative ways.
Meal Prep and Batch Cooking: Cooking in bulk and freezing dinners for later can be a massive money saver, reducing waste and reducing the number of ingredients needed overall.
Limited Meat or Vegetarian: As meat is typically one of the more expensive ingredients, frugal cooking is often vegetarian or uses meat sparingly.
While frugal meals won’t always hit all these factors, if they contain a few of these aspects, you can be assured they will provide a cost-effective dining experience. A frugal meal strives to offer nutritional balance, satisfying taste, and minimal impact on your wallet.
Perfecting the Art of Frugal Cooking
Preparing budget-friendly cooking not only saves money but also reduces food waste and can create a warm, comfortable home. This is how to be frugal with food. Here are some expert tips to get you rolling:
Plan Your Meal Calendar: Plan out your menu for the week, keeping in mind what ingredients you already have.
Shop Smart: Shop for groceries with a list in hand so you don’t end up buying unnecessary items. Look out for sales, and discounts, and try to shop in bulk.
Utilize Leftovers: Don’t throw away leftovers. Repurpose them into a new meal or use them as an ingredient in another dish.
Use More Vegetables and Grains: Vegetables and grains are generally cheaper than meat and can be used to bulk out dinners.
Freeze Extras: If you cook in bulk, freeze the extra portions for a later date. This can act as a lifesaver during busy periods.
Use Cheap Cuts of Meat: Cheap cuts, such as chicken thighs, can be just as delicious as expensive ones, especially when slow-cooked.
Cook from Scratch: Convenience foods often cost a lot more than the sum of their parts.
Grow Your Own: If you have a garden, consider growing your own vegetables and herbs.
Reduce Waste: Get creative in the kitchen and use parts of food that you’d otherwise throw away.
Remember, with a bit of planning and creativity, you can prepare delicious, healthful meals without breaking the bank! It’s all about making smart choices.
Which Filling Cheap Meals are You Going to Try?
Embarking on these frugal meals can help stretch the budget while still enjoying a variety of flavorful and satisfying dishes.
Whether you are budgeting on a low income or just want to stretch your dollar further with going teens, we have given you plenty of options to eat well and healthy.
Many on this list are my personal favorites. This is how we stay on our grocery budget.
The biggest step is learning how to meal plan and stick to the menu! Now, off to move frugal living tips to save money!
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Initially, when my wife introduced me to Stan Store, I wasn’t impressed.
It seemed illogical to pay $30 a month for software that just offered a basic sales page, especially without any integrated email service provider.
This was a stark contrast to my experience with platforms like ConvertKit, where I started with a free account until my subscriber count grew large enough where I had to pay.
As I spent more time with Stan Store, my perspective began to shift. I realized that for someone completely new to online marketing, who might be overwhelmed by the complexities of building and creating a landing or sales page, Stan Store could actually make a lot of sense.
It’s tailored for beginners, offering them a straightforward entry point into the world of digital marketing.
Who is Stan Store For?
So, who’s going to love Stan Store? Pretty much anyone aiming to make a buck online through digital products or services. If you’re like me, trying to turn those ‘link in bio’ clicks into actual sales, then Stan Store is your go-to.
Let me break it down for you. Stan Store is a hit with a wide range of creators and businesses, but from my experience, it’s a total game-changer for:
Content Creators, Influencers, Micro-influencers, and UGC Creators
Instagrammers, TikTokers, YouTubers, X’rs
Online Coaches, Mentors, and Teachers
Digital Product Creators (Etsy, you’ve got competition)
Social Media Managers and Content Managers
Designers, Freelancers, and Small Digital Businesses
And hey, even if you’re in the business of selling physical goods, Stan Store can be a killer tool for growing your email list or hosting online events.
Just a heads up though – selling physical products directly through Stan Store isn’t on the table just yet.
How Does Stan Store Work?
Picture this: I’m on TikTok or Instagram Stories, chatting about my latest digital product – let’s say it’s an eBook or a PDF.
In the past, I’d direct my followers to the ‘link in my bio’, which would then send them off to another site, like my website. There, they’d have to play detective to find the product I was talking about, or sit through endless page loads.
But with Stan Store, things get a whole lot smoother. The ‘link in my bio’ is now the store itself. Followers can hit that link, buy what they want right there and then, without being shunted off to a different site.
The best part? They can hop right back to Instagram or TikTok without feeling like they ever left. It’s all about keeping it simple and seamless – and that’s what Stan Store nails perfectly.
Here’s a screenshot of my wife’s personal Stan Store:
We’re still not a big fan of their email signup process so for now our opt-in page (squeeze page) is hosted on Kajabi.
But my wife is selling our Digital Product Quickstart Guide on Stan Store. Here’s how the sales page looks:
Behind the scenes of our sales page is a payment processor and the ability to deliver the digital product with ease. That’s what makes Stan Store so attractive. You can literally start selling your very own digital product in a matter of minutes.
Why Stan Store Stands Out
What truly sets Stan Store apart is its efficiency – you can begin selling your own digital products in just a matter of minutes.
Stan Store Features Overview
Stan Store is packed with features designed to make the life of a digital creator easier and more profitable. Whether you’re a coach, influencer, or digital product creator, here’s what Stan Store brings to the table:
Mobile & Desktop Optimized Store: Your store looks great and works seamlessly on any device, ensuring a smooth shopping experience for your audience.
Calendar Invites & Bookings Product: Easily manage appointments and bookings directly through your store.
Analytics: Get insights into your store’s performance to make data-driven decisions.
Unlimited Course Products: Offer as many courses as you like, with no restrictions.
1-Tap Checkout: A streamlined checkout process that makes purchasing a breeze for your customers.
Recurring Subscription Products: Ideal for memberships and ongoing services, this feature allows for regular income.
Audience/Newsletter Builder: Grow your audience and keep them engaged with integrated newsletter tools.
Stan Store Plans: Creator vs. Creator Pro
Creator Plan
The Creator plan, priced at $29 per month (or $300 per year with a 20% discount), is an excellent starting point for anyone looking to jumpstart their online business. It includes all the essential tools you need:
Mobile & Desktop Optimized Store
Calendar Invites & Bookings Product
Analytics
Unlimited Course Products
1-Tap Checkout
Recurring Subscription Products
Audience/Newsletter Builder
This plan is perfect for creators who are just beginning to monetize their online presence and need a comprehensive, yet straightforward set of tools to get started.
Creator Pro Plan
For those ready to take their business to the next level, the Creator Pro plan is available at $99 per month (or $948 per year with a 20% discount). It includes everything in the Creator plan, plus advanced features for optimizing conversions and offering more to your customers:
Advanced Pricing & Payment Plans
Discount Codes
Limit Quantity
Payment Plans
Order Bumps & Upsells
Funnel Builder
Affiliate Share Feature
Email Marketing
The Creator Pro plan is tailored for creators who are looking to expand their offerings, optimize their sales process, and engage more deeply with their audience.
Benefits of Using Stan Store
Convenience and Accessibility
The convenience and accessibility of Stan Store are what eventually changed my initial skepticism. The platform allows anyone, regardless of their technical skill, to quickly set up a landing or sales page.
This ease of use is a crucial factor for many users, especially those who lack the time or technical expertise to navigate more complex systems.
Competitive Pricing and Deals
The initial pricing, though seemingly high, is justified by the platform’s simplicity and effectiveness, particularly for its target audience – the absolute beginner in online marketing. The recent addition of an email service provider at a higher tier adds more value, making it a more comprehensive tool.
Drawbacks of Stan Store
Limitations in Product Availability
One of the criticisms I had of Stan Store was its limited range of features. While its simplicity is its strength, it also means that users looking for more advanced features might find Stan Store lacking. This limitation can be a significant drawback for users as their businesses and marketing skills evolve.
Stan Store Alternatives
In the journey of online entrepreneurship, it’s crucial to explore various platforms to see what aligns best with your business needs. While Stan Store has been a solid choice for me, I’ve also had experiences with other platforms worth mentioning:
Shopify: Shopify is a robust platform for creating online stores. It’s feature-rich and offers a lot of flexibility for those looking to build a detailed and extensive online shop.
WooCommerce: Ideal for WordPress users, WooCommerce seamlessly integrates with your existing site, transforming it into a fully functional e-commerce platform. It’s versatile but can be a bit complex, especially for beginners.
Etsy: Etsy is the go-to marketplace for unique, handmade, or vintage items. It’s less about building your own store and more about joining a vibrant, existing marketplace.
Teachable and Thinkific: Both are excellent for creating and selling online courses. They offer a range of tools tailored for educators and coaches, focusing on course creation and student engagement.
Gumroad: Simple and straightforward, Gumroad is perfect for independent creators selling digital products like books, music, or art directly to their audience.
Kajabi: Kajabi is an all-in-one platform offering tools for online courses, marketing, and website building. It’s ideal for those offering educational content and looking for a comprehensive solution.
Comparison Table: Stan Store vs. Alternatives
Feature/Platform
Stan Store
Shopify
WooCommerce
Etsy
Teachable/Thinkific
Gumroad
Kajabi
Customization
Moderate
High
High
Low
Moderate
Low
High
Ease of Use
High
Moderate
Moderate
High
High
High
Moderate
Target Audience
Creators
General Retail
WordPress Users
Artisans
Educators
Independent Creators
Educators/Marketers
Product Type
Digital
All Types
All Types
Handmade/Vintage
Courses
Digital Products
Courses/Marketing
Pricing Model
Subscription
Subscription
Free (Plugin)
Transaction Fees
Subscription
Transaction Fees
Subscription
This table gives a quick overview of how Stan Store compares with its alternatives in terms of customization, ease of use, target audience, product type, and pricing model. Each platform has its strengths, and the best choice depends on your specific business needs and goals.
Is Stan Store Worth it?
After diving deep into Stan Store and comparing it with its alternatives, the big question remains: Is Stan Store worth it? Based on my experience and the insights I’ve gathered, my answer leans towards a yes, especially for a specific audience.
Stan Store stands out for its sheer simplicity and focus on digital content creators. If you’re just starting out or find yourself overwhelmed by the complexities of more advanced platforms, Stan Store offers a welcoming and straightforward path. The ease of setting up a sales or landing page, combined with the platform’s focus on digital products, makes it an attractive option for creators who want to monetize their content without the hassle.
The pricing, initially a point of skepticism for me, actually makes sense when you consider the target audience and the features offered. For beginners and those not ready to navigate the complexities of platforms like Shopify or WooCommerce, Stan Store’s $29 monthly fee for the Creator plan is a reasonable investment.
And for those looking to scale up, the Creator Pro plan, despite its higher price, brings in advanced features that could justify the cost as your business grows. If you’re not sure Stan Store is a good fit, the 14-day free trial might be exactly what you need.
Bottom Line – Stan Store Honest Review
In conclusion, while Stan Store might not be the one-size-fits-all solution for every online entrepreneur, it certainly has carved out its niche. It’s a platform that understands and caters to the needs of digital content creators, making it a worthwhile consideration for those in its target demographic.
As with any tool, it’s about finding the right fit for your specific needs, and for many creators, Stan Store could be just that.
To try Stan Store for free, click here for a 14-day trial.
FAQ – FAQs- Stan Store Review
Stan Store is best suited for digital content creators, including online coaches, influencers, micro-influencers, UGC creators, and digital product creators. It’s also a great fit for anyone looking to streamline their ‘link in bio’ to convert followers into customers.
Stan Store seamlessly integrates with social media platforms like Instagram and TikTok. The integration allows creators to direct their social media audience straight to their Stan Store via a ‘link in bio’, facilitating immediate purchases without leaving the social media app.
Stan Store is designed with simplicity in mind, making it extremely user-friendly for beginners. The platform’s intuitive interface allows for easy navigation and quick setup, even for those with little to no technical background.
Stan Store has two pricing plans: the Creator Plan at $29 per month or $300 annually, and the Creator Pro Plan at $99 per month or $948 annually, with each plan catering to different levels of business needs.
About the Author
Jeff Rose, CFP® is a Certified Financial Planner™, founder of Good Financial Cents, and author of the personal finance book Soldier of Finance. He was a financial planner for 16+ years having founded, Alliance Wealth Management, a SEC Registered Investment Advisory firm, before selling it to focus on his passion – educating the masses on the importance of financial freedom through this blog, his podcast, and YouTube channel.
Jeff holds a Bachelors in Science in Finance and minor in Accounting from Southern Illinois University – Carbondale. In addition to his CFP® designation, he also earned the marks of AAMS® – Accredited Asset Management Specialist – and CRPC® – Chartered Retirement Planning Counselor.
While a practicing financial advisor, Jeff was named to Investopedia’s distinguished list of Top 100 advisors (as high as #6) multiple times and CNBC’s Digital Advisory Council.
Jeff is an Iraqi combat veteran and served 9 years in the Army National Guard. His work is regularly featured in Forbes, Business Insider, Inc.com and Entrepreneur.
All written content on this site is for information purposes only. Opinions expressed herein are solely those of AWM, unless otherwise specifically cited. Material presented is believed to be from reliable sources and no representations are made by our firm as to another parties’ informational accuracy or completeness. All information or ideas provided should be discussed in detail with an advisor, accountant or legal counsel prior to implementation.
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Do you ever feel like you’re just living your life between your home and the office? Does it get crowded feeling like home is completely your responsibility, and the office is only for work? If so, you might need to find what is often referred to as a “third place.” A third place is somewhere that allows for freedom of expression and exploration without the constraints of either your home or work environment. In this post, we’re discussing the top 15 ways in which you can discover how to create long-lasting moments in this particular spot.
1. High-School Gym
One user shared, “My high-school gym was like a third place. I originally went there because I had nowhere to go for lunch and a break. Didn’t want to become a target for bullying by looking lonely. Made some friends in the gym and got pretty strong in the process. After school, I joined a gym, which was the opposite experience. There’s no sense of community. Awkwardness and silent judgment fill the air. It’s more like the atmosphere of waiting at a bus stop.”
Another user responded, “I don’t really know if the gym counts as a third place anymore. Everyone’s on their air pods and not wanting to bother others or talk.”
2. City-Organized Adult Sports
Community sports are a good option, if there’s a thriving community already in place in your area. Sure, it’ll take some work at first. It might take time for your fitness level to reach the average on the sports team or group you join, and it almost always takes a while to really hit it off with new friends. But once you’re invested, the payoff can be really worthwhile. Imagine if you could count on meeting friends at least once a week, maybe more, to have a good workout, good conversation, and maybe even hang out afterwards?
Another user shared, “Depends a bit on the size of town/city you live in. In my city, there’s a group of runners that do like a Saturday morning group/ open to anyone running. Everyone is pretty friendly. Folks gather and chat for 30 minutes before the run.
“We also have adult sports throughout the city, so stuff like softball, soccer, and basketball, where they’ll paste together a team from singles or place you on a team that’s one person short. I also once took a class at REI in bike maintenance and met a couple of nice folks. REI also organizes events that I think probably draw in folks looking for an interaction (day hikes, trail runs, kayak trips).”
3. Library
Admittedly, libraries are probably not top-of-mind for most of us. But all the same, libraries have a lot more classes than just toddler story time. There’s often classes for things like poetry, story-writing, computer programming, art, and more. And while your skill might eventually outgrow the free library class, you could come away with a new hobby and new friends!
One user shared, “Hit the library friend. There’s all sorts of programming, and it’s free!”
4. Something We Have to Create
One observation of third places is that sometimes, we just have to create them. But honestly, it could be anywhere. Maybe you like hiking at a local park, or there’s a quiet coffee shop near your home. Maybe you have the space to create a special nook in your home with a bookshelf and twinkle lights, or the ability to build a shed in the backyard you can develop into your own special space. Maybe it’s as simple as sitting in your car for half an hour after you get home and playing some quiet music while you read a book for a few minutes.
“I’m glad finally someone brought it up. It’s something we have to create, and it could be anywhere. I sometimes chill in my car with the radio playing softly. Normally I am alone, but once I had a friend join me, surprisingly they said it was enjoyable,” one commenter chimed in.
5. Bars
Once upon a time, a local bar or pub made for a great third space. In some places they still do, but you may need to do some hunting. Look for a coffee shop that’s open late and maybe serves wine and bear. Maybe there’s a small diner with options affordable enough that you can become a regular. Whatever it is, a bar, coffee shop or restaurant can make an excellent third space.
One user commented, “That’s what bars used to be for.”
Another Redditor replied, “Too expensive nowadays …”
6. Suburban Strip Malls
One online Redditor commented, “I’m 24, and I’m in the same boat. I live at home in the suburbs, so I typically go to suburban strip malls or the gym, but I also don’t have much to do otherwise (other than work and occasional chores).”
7. Paddleboard
“Do you have any state parks or trails nearby? Arboretum? Rock climbing gym? What about exploring an apparatus like the Lyra or silks? Jogging outdoors?
“Do you have any lakes nearby? Paddleboarding can be an excellent meditative core workout.”, one user suggested.
8. A Tree Fort
One Redditor posted, “Build a tree fort near your house.”
Honestly, tree houses would probably still appeal to a lot of us. But even if not, why not build one for your kids? They’d probably love it, and you can instill in them the ability to curate their own special area.
9. Meetup Dot Com
“meetup dot com … Search for your interests. Rock climbing, CrossFit, doggie playdates, adult sports leagues through the park district, fibre arts, ultimate, pottery, etc.,” one user suggested.
The OP replied, “I’ve tried that, but it always seems geared towards an older demographic.”
10. A Local Recreation Center
If everyone in gyms is getting to focused on getting through their own workout without talking to anyone, try a community center. They’re usually already full of people who are looking for friendships and teammates!
One Redditor posted, “Try your local recreation center. They have classes, sports event sign-ups, sometimes pools depending on area, other resources and group gatherings.”
11. Athletic Courts
One user said, “If you’re specifically looking for fitness and activity, I would check out nearby athletic courts or social media for exercise groups.”
12. Discord Servers
“It sounds like what you need to do is meet other people as opposed to finding a new space. Are there any local Discord servers for your area for young adults? I found this very helpful for meeting more people and keeping in touch,” one Redditor stated.
13. A Community Center
Another commenter asked, “Do you have a community center? Like a YMCA or a community fieldhouse? My local ones usually have adult sports/activities going on, like basketball training, judo, etc. You can also pay to go for the day and just do whatever you want, like at the fieldhouse, people are using the different fields for basketball, soccer, football, baseball, etc.”
14. Disc Golf Place
One Redditor posted, “Disc Golf! Easier than golf, cheaper than golf, more laid back than golf. If you enjoy IPAs, jam band music, weed and dogs, then that’s a bonus.”
Another user added, “Disk golf seems a pretty social outdoor activity. Adult league sports teams. Kickball, softball, things like that. You can get a part-time serving job, decent extra money and servers like to get together after work. Maybe a local game shop has picked up games for D&D or some other tabletop game. There are local meetup apps and groups on social media.”
15. A Dance Studio
“I take weekly classes at a dance studio with all the same students for a full school year. There’s a large adult dance class offered at this studio. Many other places might not have as many options, but it’s nice to get to know the same people over the course of several months,” commented one user.
Which one have you tried already and want to try next? Share your thoughts with us below!
Source: Reddit.
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