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February 16, 2024 by Brett Tams

Looking for the best summer jobs for teachers? Teachers, just like students, really enjoy the summer break. It’s a great time for them to relax and feel refreshed. But, this break can also be a chance for teachers to make extra money and even start a new business. I know many, many teachers who have…

Looking for the best summer jobs for teachers?

Teachers, just like students, really enjoy the summer break. It’s a great time for them to relax and feel refreshed. But, this break can also be a chance for teachers to make extra money and even start a new business.

I know many, many teachers who have side hustles in the summer. From part-time gigs to full-time summer businesses, there are many side jobs for teachers that you may want to try out.

Best Summer Jobs for Teachers

There are many summer jobs for teachers listed below. If you want to skip the list, here are some jobs that you may want to start learning more about first:

Flexible way to freelance – Proofreading
Side job for teachers from home – Blogging
How to make passive income as a teacher – Sell printables
Work as much or as little as you want – Flea market flipping
Creative job idea – Dog treat baker
Side job for teachers in summer – Grocery shopper
Camp counselor – If you love the outdoors, being a camp educator can be both rewarding and enjoyable, combining teaching with adventure activities.
Summer school teacher – Many schools have summer classes where you can continue teaching.

1. Teach summer school

One clear way for teachers to earn extra money in the summer is by teaching summer school.

It’s a good way to use your teaching abilities and make some additional income. The best part is that summer school happens during your summer break (big surprise, right?!), so it fits well with your schedule when you’re already off from regular school.

To start, check with your local school districts. A lot of them have summer school programs, and they usually share job opportunities on their websites or local education job boards.

2. Sell educational printables

Selling educational printables is a way for teachers to earn extra money. It’s especially good for those who want to make passive income as a teacher.

Your materials, like worksheets, lesson plans, and activities, are helpful to other teachers and parents looking for high-quality educational content.

Some places to sell your educational printables include:

Teachers Pay Teachers (TPT) – This is a popular site where millions of teachers buy and sell original educational resources.
Etsy – This site is known for handmade items, but also is a great place for selling educational materials and printables.

Educational printables include things like math problems, vocabulary cards, and science experiments. They’re useful for different grades, age groups, and learning goals, making it simple to improve regular teaching or homeschooling. You can share these resources online or print them for in-person classes too.

Recommended reading: How I Make $400,000 Per Year Selling Educational Printables.

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.

3. Flip used items for resale

Trying your hand at flipping items from flea markets and thrift shops can be a fun and money-making summer job for you as a teacher.

Flippers are people who find items at flea markets, yard sales, and thrift stores that are priced lower than their actual value. They then sell these items for a profit.

The summer is a great time to do this because there are typically a lot of yard sales, flea markets, and people just in general decluttering more (so you may find more things that people are giving away), where you can find items to resell.

Some items that you can buy and resell include clothing, antique furniture, collectible toys, sports equipment, electronics, rare books, jewelry, and more.

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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.

4. Tutor

During the summer, your teaching skills are still needed. Tutoring can be a flexible and fulfilling summer job that lets you work with students one-on-one either online or in person.

You may be able to tutor on subjects like math, foreign language, science, and more. You also may be tutoring kids, teenagers, or even adults.

To begin, you can look for tutoring jobs on online tutoring sites like Tutor.com. You can also sell in-person local tutoring sessions by reaching out to tutoring companies nearby or advertising your services on social media or in local Facebook parent groups for your area.

5. Camp counselor

Becoming a camp counselor could be a rewarding experience for you in the summer. In this job, you’d guide groups of children through indoor and outdoor activities, as well as educational programs at summer camps.

Your daily tasks would include keeping campers safe, organizing games, and giving both educational and emotional support.

Summer camps come in different types, ranging from general adventure camps to specialized ones focusing on sports, arts, or science.

6. Freelance bookkeeping gigs

If you like numbers and you’re a teacher, online bookkeeping can be a way to spend your summer.

A bookkeeper is someone who assists in managing and tracking the financial aspects of a business. They usually keep records of sales, track expenses, and generate financial reports.

People with virtual bookkeeping jobs work from home, handling their responsibilities remotely. Virtual bookkeeping is a great choice for remote work as all tasks can be completed online or with computer software, eliminating the need to go into an office physically.

Recommended reading: How To Find Online Bookkeeping Jobs

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This free training will teach you what you need to know to become a virtual bookkeeper and make money from home.

7. Swim instructor

If you’re a teacher who loves the water, becoming a swim instructor for the summer could be the perfect seasonal job for you. Your educational background gives you the ability to communicate and manage classes, which are important skills for teaching swimming.

To find swim instructor jobs:

Look on websites like Craigslist or Facebook for listings, including summer-specific roles.
Check out local community centers, pools, and summer camps.
Networking can help, so let friends and professional contacts know you’re looking.

Another job similar to this would be to become a lifeguard at a local pool.

8. Tour guide for local attractions

As a teacher, your ability to tell stories and lead can be very useful for a summer job as a tour guide. Your skill in explaining things well makes you a great choice to share history and local stories with visitors.

Check out jobs at museums, historical places, or become an ambassador for your city by guiding people to discover hidden treasures.

9. Pet care jobs

If you’re a teacher who loves animals, you may want to look into summer jobs in pet care, like being a dog walker or pet sitter. Your caring skills can easily transition to taking good care of furry friends while students are on break.

Rover is a website that connects pet owners with pet sitters and dog walkers. You can choose to do this job on weekends throughout the year or only open your schedule during the summer months – it’s your choice.

Starting on Rover is simple – you create a profile sharing your experience with pets and the services you can offer, such as dog walking, pet sitting, and house sitting.

After that, customers will send you requests, and you can discuss pricing. Rover handles the payment process, and you’ll get paid directly into your account.

Recommended reading: 7 Best Dog Walking Apps To Make Extra Money

10. Test prep instructor

As a teacher, your knowledge of academic subjects is very helpful, especially in the summer. Becoming a test prep instructor can be a great chance to help students in getting ready for their exams and earn extra money.

Test prep instructor jobs include subjects like math and English, and they cater to different education levels, from elementary school to college.

11. Sell your lesson plans

Teachers Pay Teachers (TPT) is a website made just for educators to buy and sell educational items, and it’s a well-liked side hustle for teachers. If you’ve created lesson plans, worksheets, or other teaching tools for your class, you can share them on TPT and make some extra income.

The school year may be over for you, but that doesn’t mean that you can’t create and sell lesson plans – these are bought year-round!

You can sell:

Lesson plans and unit studies
Worksheets and printable activities
PowerPoint presentations and interactive notebooks
Posters, charts, and visual aids

On Teachers Pay Teachers, the typical teacher can earn around an extra $300 to $500. However, some teachers make hundreds of thousands of dollars extra each year.

12. Coach a school sport

If you love sports and you’re a teacher, coaching a school sport during the summer might be a great match for your skills and interests.

Coaching a school sport is a great option within your own school district, as many schools need help with their sports teams. You can try coaching sports like soccer, basketball, volleyball, and track and field. Additionally, there are opportunities with after-school clubs such as yearbook, chess, choir, and more that can be a teacher’s side hustle.

13. Run a dog bakery

Beginning a dog bakery can be an enjoyable side job for teachers who adore both dogs and baking. By creating treats for dogs such as cupcakes, cookies, cakes, and more, you can earn an additional $500 to $1,000, or even more, each month.

Recommended reading: How I Make $4,000 Per Month Baking Dog Treats (With Zero Baking Experience!).

14. Sell handmade goods on Etsy

Etsy is a popular online marketplace that connects makers and shoppers looking for unique handmade goods. If you’re a teacher with a creative side, this could be a great site for you to showcase and sell your crafts during the summer months.

Some examples of what you can sell on Etsy that are related to school include:

Educational games and activities
Educational materials like lesson planners and printable worksheets
Handcrafted classroom decorations or educational games
Personalized items such as bookmarks, nameplates, or tote bags

But, you don’t have to only sell teaching-related items. You can sell many other things such as furniture, clothing, jewelry, soap, home decor, and more.

15. Work at a restaurant

Many teachers work part-time or full-time at a restaurant during the summer as servers, hosts, bartenders, and kitchen staff.

Working in restaurants can fit teachers well since they have flexible hours that can match your open summer schedule, and you can leave the job easily once school resumes in the fall.

I know many, many people who have done this, and I would say this is one of the top summer jobs for teachers.

16. Proofread

As a teacher, you likely excel at proofreading and can easily catch mistakes. Using these skills, proofreading can be a fantastic side job. By proofreading, you can help authors, website owners, students, and others in their writing while earning extra income.

Even the best writers can overlook errors in grammar, punctuation, and spelling. That’s why having a proofreader can be helpful for nearly everyone.

You can usually set your own hours, which is perfect for the irregular schedules you might have.

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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.

17. House sit

House sitting is a good option for teachers looking to make extra income during the summer months because a lot of people take vacations in the summer. As a house sitter, you are typically responsible for maintaining someone’s home while they are away. This can include watering plants, collecting mail, and making sure the house remains secure.

People hire house sitters to make sure their homes aren’t left empty, as a visible presence can discourage potential thefts.

To begin house sitting, you can join house-sitting websites to find gigs in your area or ask for referrals from friends and family. Starting with people you know for house-sitting and then using their references can expand your job search.

18. Blog

Blogging can be an enjoyable way for you, as a teacher, to earn extra money from home. Many teachers run blogs, and it makes sense – you can blog when you have free time, without sticking to a strict schedule.

To start your blog, first, pick a topic you’re passionate about, maybe something related to your teaching field or a hobby you enjoy. There are plenty of different niche ideas such as personal finance, travel, food, home, pets, and so much more.

You can earn money as a blogger through ways like:

Affiliate marketing – Share links to products or services related to your blog topic and earn a commission for sales made through your referral links.
Advertising – Add display ads or sponsored posts on your blog.
Courses and ebooks – Create courses or ebooks in your expertise area and sell them through your blog.

Learn more at How To Start A Blog FREE Course.

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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.

19. Freelance writing

If you’re looking for remote summer jobs for teachers, then becoming a freelance writer can be a great option.

Freelance writers create content for blogs, websites, magazines, newspapers, advertising companies, and more. You can find writing jobs on platforms like Upwork and Fiverr. Also, you can find clients independently by reaching out to websites you are interested in writing for.

I have been a freelance writer for years, and it all started as a side hustle. This is a great side hustle because you can choose to work as much or as little as you want, such as if you are only looking to do freelance writing in the summer months when you are not teaching at a school.

Recommended reading: 14 Places To Find Beginner Freelance Writing Jobs

20. Transcribe

An online transcriptionist’s role involves listening to video or audio files and typing out the content they hear. Various types of transcriptionists exist, including legal, general, and medical transcriptionists.

This job demands solid typing and listening skills, and the flexibility to work from home on your schedule. Transcriptionists typically earn an average of $15 to $30 per hour.

This is another great side hustle because you can choose to work as much or as little as you want, such as if you are only looking to make extra money during the summer months.

I recommend signing up for FREE Workshop: Is a Career in Transcription Right for You? You’ll learn how to get started as a transcriptionist, how you can find transcription work, and more.

Recommended reading: 18 Best Beginner Online Transcription Jobs 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.

21. Rent out an unused room in your home

If you have a spare room in your house, you might want to try renting it out over the summer. Platforms such as Airbnb or Vrbo make it easy for you.

I have rented out rooms to others in the past, and it has been a great way to make extra money. If you live in a touristy area, this could even be a gig that you only do in the summers and earn enough to cover your bills or at least pay for some of them.

22. Rent your garage space

If you have available storage space like a garage, driveway, closet, basement, or attic, you might consider renting it out to make extra money. This can be a profitable side hustle without requiring much of your spare time.

Neighbor is a platform where you can list your extra space for rent and potentially earn up to $15,000 per year.

This is a gig that may take up more than just your summer because typically people may store their stuff more long-term. But, you may find some people who only need to store things a few months at a time or perhaps you can also try to turn this into a year-round side hustle.

Recommended reading: Neighbor Review: Make Money Renting Your Storage Space

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You can use this website to list your unused space for rent and make up to $15,000 per year by doing so. With Neighbor, you can rent out your garage, driveway, basement, parking lot, shed, warehouse, carport, attic, street parking, or even a closet.

23. Teach English as a second language

If you’re a teacher looking for a seasonal opportunity, teaching English as a second language (ESL) during the summer can be a rewarding experience.

Many institutions are looking to hire for ESL teaching jobs, ranging from local schools to international language camps and online platforms. Here’s how you can get started and what you might expect:

Typically, ESL teachers need a bachelor’s degree and a teaching credential like TEFL (teaching English as a foreign language) certification. Some positions abroad might have additional requirements.

24. Answer online surveys

If you’re looking for a flexible way to earn extra cash during the summer, answering online surveys could be a great fit. Companies are always in search of genuine feedback to improve their products or services, and your opinions are valuable.

Now, this won’t be a full-time job, but you share your thoughts and can make extra money or free gift cards on your own schedule.

The survey companies I recommend are:

Swagbucks
User Interviews – These are the highest paying surveys with the average being around $60 for an hour of your time.
Branded Surveys
American Consumer Opinion
Pinecone Research
PrizeRebel
InboxDollars

Recommended reading: 18 Best Paid Survey Sites To Make $100+ Per Month

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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.

25. Mystery shop

Companies hire mystery shoppers to gain insights into their customers’ experiences. They seek genuine opinions on products, feedback on customer treatment, evaluations of phone call interactions, and more. Mystery shoppers play a key role in providing valuable feedback to companies.

This is a great summer side hustle for teachers because you can simply pick up mystery shopping jobs when you need them. So, it’s completely okay and normal to only accept jobs during the summer.

Here’s what mystery shoppers do:

Visit businesses anonymously.
Complete specific tasks, such as purchasing a product or asking questions.
Record your observations.
Provide a detailed report on your experience.

I have done many secret shopping jobs over the years, and I often got mystery shops that provided me with $100 to cover a free dinner.

Recommended reading: How To Become A Mystery Shopper

26. Find gigs on Craigslist

Craigslist can be a goldmine for finding great summer jobs for teachers. It’s a site where individuals and businesses post quick jobs to make extra money.

You can find these gigs by going to the Craigslist website for your city or area. Right on the home page, you’ll spot a section labeled “Gigs.” This is where short-term job offers are posted, ranging from labor-intensive tasks to more skill-specific roles.

Here are some jobs I have found in the past on Craigslist:

Moving boxes to a new house
Deep cleaning a home
Putting together new furniture out of a box
Taking down a shed in a backyard
Handyman
Movie extra
Event parking help

27. Deliver groceries with Instacart

If you’re a teacher looking for flexible summer jobs for teachers, try delivering groceries with Instacart.

Grocery delivery services, like Instacart, are in demand as more people prefer having someone else do their grocery shopping.

Becoming a personal grocery shopper with services like Instacart can earn you an average of $15 to $20 per hour for delivering groceries. You’re paid per order, and you get to keep 100% of your tips. The flexibility allows teachers to choose their schedules, working in the evenings, on weekends, or even exclusively during the summer.

Recommended reading: Instacart Shopper Review: How much do Instacart Shoppers earn?

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Instacart is a popular website for people looking to earn extra money shopping for and delivering groceries. Instacart gives you the option to turn your free time into a chance to make some extra money.

28. Real estate agent

If you’re a teacher looking for a productive way to spend your summer months, you may consider becoming a real estate agent.

Some teachers work as real estate agents alongside their full-time teaching jobs. This is possible because you can list and sell homes during weekends, breaks, evenings, and over the summer.

However, selling homes may have some challenges, as clients may occasionally require your full attention during the day, and you might be occupied with teaching. This is something to consider before getting into real estate as a side job.

29. Virtual assistant

If you’re a teacher looking for a flexible summer job that pays well, becoming a virtual assistant (VA) could be a perfect fit. As a VA, you can use your organizational skills and attention to detail to help businesses and entrepreneurs from the comfort of your home.

Some examples of what a VA does include:

Email management – Keep inboxes organized and respond to emails on behalf of your clients.
Scheduling – Manage calendars, arrange meetings, and send reminders.
File organization – Keep digital files in order using online tools like Google Drive or Dropbox.

Recommended reading: Best Ways To Find Virtual Assistant Jobs

30. Drive for Uber or Lyft

Driving for Uber or Lyft can give you a flexible way to earn money during your summer break.

You get to set your own hours and work as much or as little as you desire, meaning you can align this job with your summer plans.

31. Library assistant

As a teacher, your skills are a natural fit for a summer position as a library assistant. Libraries often seek additional staff during the summer months, providing a great opportunity for you to engage in a role that supports literacy and learning in a calm environment.

Your job may include doing things such as:

Organizing books – Keeping the library orderly and materials easy to access
Circulation desk duties – Checking books in and out for people
Helping library users – Helping visitors find books and resources, and answering inquiries

You can simply contact libraries near you to see if they are hiring.

32. Driver’s ed teacher

Teaching driving lessons to teenagers and adults is a popular side hustle for teachers. If you’re interested, you can check if the high school near you needs a teacher for this subject. Alternatively, reach out to a local driving school to inquire about potential teaching opportunities.

Driving instructors make around $20 an hour more or less, depending on where you live.

Back when I was in high school, I actually took my driver’s ed course at my high school in the summer. It was an easy summer credit, and I also got a discount on my car insurance. One of the teachers taught this course and it seemed fairly easy (other than having to deal with a bunch of us high school students over the summer who were wanting to learn how to drive, ha!).

33. Babysitting

Babysitting can be a side job for teachers, and depending on your location, you might earn around $15 to $25 per hour. Parents tend to prefer hiring teachers as babysitters due to their extensive experience with children.

Becoming a babysitter can be a great way to make extra money in the summer as well, as you can choose to sign up for babysitting jobs that are only during this time.

Plus, many families need extra help during the summer because school is not in session, but the parents still have to work. That is where you come in!

Another job similar to this would be elderly companion care.

Frequently Asked Questions

Below are answers to common questions about finding summer jobs for teachers.

Do teachers still make money during the summer?

Yes, many teachers do receive income during the summer, especially if their annual salary is distributed over 12 months. However, if you’re paid only for the months you work, looking for summer employment can supplement your income during this period. Not all teachers have summer gigs, but those who want to make income in addition to their teacher salaries may try to find something in the summer.

What is the best summer job for a teacher?

The best summer job for a teacher often capitalizes on their skill set. Positions like tutoring, educational program coordination, or teaching summer school are highly relevant options. Teachers might also consider roles in curriculum development or educational content creation.

What jobs exist for substitute teachers looking for summer employment?

Substitute teachers can find summer jobs in other educational roles, such as tutoring, mentoring, or working in summer camps. Many community centers and educational institutions also look for qualified professionals to lead summer workshops or help with childcare programs.

What are some summer jobs for teachers from home?

Teachers looking for summer jobs from home can find opportunities such as online tutoring or virtual summer school teaching. Other side gig ideas include writing content for websites, blogging, transcribing, and more.

Best Summer Jobs for Teachers – Summary

I hope you enjoyed this article on the best summer jobs for teachers.

As you can see, there are many ways to make extra money over your summer vacation.

Teachers have lots of options during the summer. They can stick with education by teaching summer school or tutoring. Or, they can try something new like being a camp counselor or giving local tours.

Teachers who like trying out new things might sell educational printables, sell things for profit, or sell services like pet care or freelance writing.

What do you think are the best jobs for teachers in the summer?

Source: makingsenseofcents.com

Apache is functioning normally

February 16, 2024 by Brett Tams

Congratulations! If you’re reading this, it probably means you or someone you care about is starting a family (or adding to one). One popular way to celebrate is with a gender reveal party: It’s a fun way to get all the expectant parents’ loved ones involved before the new addition arrives.

But gender reveal parties, like any kind of get-together, can quickly get expensive. Renting a space, ordering flowers and decorations, and wrangling the menu can add up. Which can be an issue, especially if the couple that is expecting or the person hosting is trying to also save for, say, the baby’s nursery or a baby shower.

So read on for six gender reveal party ideas that will be a fun way to share the news without breaking the bank.

Cheap Gender Reveal Ideas

When saving for a baby, it’s vital to protect your finances, even during celebrations. Sure, you want to share the excitement in a stylish way, but there are cribs, strollers, and lots of diapers to be bought! To help you pull off a gender reveal on a budget, read on.

💡 Quick Tip: Make money easy. Enjoy the convenience of managing bills, deposits, and transfers from one online bank account with SoFi.

1. Keep It Small

You can save money by downsizing your event. Instead of inviting anyone and everyone, try including just friends and family. Not only will a smaller party keep costs low, but it will make the event more personal and a whole lot less frantic. An intimate gathering with those closest to you can be a lovely way to celebrate learning a baby’s gender. Plus, it allows the host or guest of honor to get more quality time with each invitee.

However, you may want to run this by the expectant mother if you are organizing the party on her behalf. She should have the last say about the invite list so that no one significant gets missed.

2. Choose a Cheap or Free Venue

You can hold a gender reveal party anywhere. When you think about it, it’s a very accommodating event without a lot of rules about the dress code, timing, or the activities involved. So, you can likely make any location work, whether it’s at home, a local restaurant, or elsewhere.

• Be creative with the location. Instead of a full (pricey) restaurant meal, could you host a party at a local coffee bar (some host events)? Or could you do an afternoon tea at a favorite eatery, before they open for dinner? These kinds of options can help you save a considerable amount of money.

• When picking where to have the party, you may need to factor in the size of your guest list and the type of gender reveal you want. For example, if you plan to use a gender-reveal powder cannon, you probably need a venue outdoors.

• Rented venues can be expensive, so for a gender reveal on a budget, consider hosting at home.

• Look at other cheap locations like a nearby green space. Many gender reveal parties are happily hosted in a local park. You bring cushions, a picnic blanket, and all the trimmings, and you’re set, without the cost of renting.

3. Send Digital Invites

Invitations are where many people let their creativity shine. But physically mailing them out may not be the most cost-effective option; you’ll have to buy the cards and spend money on postage, too. If you are looking for a way to send fun invites but for a fraction of the price and time, consider digital versions.

• There are apps and websites that offer digital invite services. You can find a wide range of gender-reveal invitation templates on them. Spend a few minutes scrolling; you may find some totally free options, or you might spend anywhere from $10 to $20 on them. You can also find fun graphics and animations to make them unique.

• These resources make planning a party more straightforward for the host. That’s because they usually come with a function that lets guests RSVP digitally, so you can keep track of who is coming. You can also usually automate updates and reminders.

• Where to start? Try exploring Punchbowl, Evite, and Paperless Post for some great evite options.

4. Make Your Own Decorations

Similar to birthday parties, a gender reveal party isn’t complete without a few decorations. Here are some ways to keep costs down:

• Easy DIY décor can include banners, streamers, candles, and table centerpieces. Often, you only need cardstock, ribbon, and paper to get creative. You might also be able to find printable images online. Sayings like “Whether pink or blue, we love you” and the like can be a fun way to underscore the reason everyone has gathered.

• Use what you already have — outside. Anyone with a green thumb can take advantage of their garden to liven up their party. You can set the whole event up outdoors if the weather is nice or use flowers to decorate your home. For example, fresh flowers in mason jars or dollar-store vases are a simple but effective centerpiece.

• A quick reminder: Even if the parents know the gender already, decorations shouldn’t give it away. Instead, aim for a gender-neutral look or a mix of pinks and blues so that nothing spoils the surprise.

5. Do a Potluck

Hosting a gender reveal party that includes a meal can get very pricey, very fast. No matter the size of your guest’s appetite, you have to purchase food per head. Some recommend around a half-pound of meat and half a bottle of wine for each person at an event. That alone could rack up a bill equal to a few months’ worth of baby supplies.

Instead, consider a potluck.

• A potluck can save you significant costs in the food department.

• It’s a great way to bond as a community or family. Everyone plays a role. You may find that having a number of people contributing makes the endeavor more creative.

• Hosting a potluck does take a bit of organization to make sure, say, that not everyone brings a dessert, but the savings and sense of teamwork may be well worth it.

6. Opt for These Ways to Do the Reveal

The most important part of a gender reveal party is the reveal itself. But, you don’t have to pay for expensive fireworks, a band, or an entire room of balloons to make a statement. Some budget-friendly ideas include:

• Gender reveal confetti or powder cannons

• A giant balloon filled with colored confetti; pop it to reveal the gender

• Cupcakes or cake with the gender color inside

• A pinata filled with either pink or blue ribbons and glitter

You can also set the stage with color-themed food and drink. Some hosts like to have pitchers of fun fruit drinks, one tinted pink and the other blue with berries.

Recommended: A Guide to Using Savings Clubs

Setting Your Gender Reveal Party Budget

Your budget will obviously vary with the type of party you are planning. If you have a backyard potluck for 10 close friends it will, of course, be much more affordable than a meal for a few dozen guests at a rented space.

For example, let’s say you choose a large venue; that alone may cost you upwards of $200 to rent. In addition, decorating the location may be expensive, anywhere from $50 to $100 and up. That’s because there is more space to cover than your garden or living room. Plus you’ll need to factor in the food as well. Ka-ching! And double ka-ching if you live in a major city; your costs are likely to be higher.

That said, only you and your loved ones know what will be the right way to celebrate the upcoming birth. Just like putting together a budget for a baby, be methodical.

Budget Beforehand

Sit down early in the planning process and create a budget for your party. If there is more than one host, pool your resources and determine the total you can spend. It’s essential to do this before you start party planning.

• Go line by line, item by item. Write down what you need and estimate the cost. That way, you know exactly what you need to buy and how much it will cost. Otherwise, there’s every chance that you’ll discover your cheap gender reveal party wound up being a high-cost celebration.

• Understand where the funds are coming from. Is the expectant couple or individual footing the bill? If you are organizing, who else might contribute? Sometimes family members of the parents-to-be are also willing to help. They may contribute some cash or offer to bring items to the event.

Stick to Your Budget

It sounds self-explanatory: Stick to the budget you make. However, any party planner knows that it’s easier said than done, whether you have a baby shower, birthday, or anniversary on your hands.

• Hold yourself and the team that’s organizing the event accountable. It’s very easy to dip a little further into your funds for extra decorations, more flowers, or a beautifully decorated dessert. While those gestures are nice, they come at a financial cost. You may need to separate your “party fund” from your savings account. Or, if you have a co-host, report your spending to each other. You’ll be less inclined to go overboard that way.

• Play around with your distribution of funds. For instance, maybe you have a baker in the family who can bake a fab gender reveal cake. In that case, you can put more money toward a venue. Or, perhaps you are hosting a potluck version of a gender reveal party. That frees up some cash for decorations or how you handle the big reveal.

It’s a balancing act, for sure, but with a little planning and a strong commitment to your budget, you can host a gender reveal party that won’t leave you with debt to pay off.

Recommended: Budgeting for Beginners

The Takeaway

Hosting a gender reveal on a budget may take a bit of extra planning. But spending less won’t make the event any less memorable. Instead, think of it as an opportunity to test your creative muscles and come together as loved ones. Play around with your budget to find the best party plan. Maybe you host it at a restaurant but it’s a tea party instead of a full meal. Or perhaps you gather in someone’s yard or a local park and then have enough to splurge on an amazing cake. It’s all about balance.

Whether you’re expecting a baby or simply planning a party for one of your besties, life is expensive. That’s why finding a banking partner that offers competitive interest rates and low (or no fees) can be important.

Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with direct deposit, you’ll get a competitive annual percentage yield (APY), pay zero account fees, and enjoy an array of rewards, such as access to the Allpoint Network of 55,000+ fee-free ATMs globally. Qualifying accounts can even access their paycheck up to two days early.

Better banking is here with up to 4.60% APY on SoFi Checking and Savings.

FAQ

What is a good budget for a gender reveal party?

Budgets will vary depending on the host’s means and goals and the expectant parents’ desires. However, you can stretch a fund further with a more relaxed event. For example, a small barbecue in your backyard with a few friends won’t cost as much as a luxe rented location but may make up for that with the warm, intimate vibe.

Who usually throws a gender reveal party?

There is no norm; anyone can throw a gender reveal party, from a close family member to the parents to a best friend. It’s all good! In some cases, there are even multiple hosts. This allows everyone to take on a smaller financial burden than a singular host. The only rule is to keep the gender a secret during planning.

How much should a gender reveal cake cost?

The cost of gender reveal cake can vary in price depending on where you buy it, how big it is, and how ornate it is. Prices often land in the range of $25 to $50. However, features like surprise candy inside will likely run you more money. And if you purchase a cake from a highly rated patisserie in a big city it will probably be considerably more expensive than one at a local bakery in the suburbs.

Photo credit: iStock/Ievgeniia Shugaliia

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SoFi Bank shall, in its sole discretion, assess each account holder’s Direct Deposit activity and Qualifying Deposits throughout each 30-Day Evaluation Period to determine the applicability of rates and may request additional documentation for verification of eligibility. The 30-Day Evaluation Period refers to the “Start Date” and “End Date” set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the “30-Day Evaluation Period”). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. Upon receiving a Direct Deposit or $5,000 in Qualifying Deposits to your account, you will begin earning 4.60% APY on savings balances (including Vaults) and 0.50% on checking balances on or before the following calendar day. You will continue to earn these APYs for (i) the remainder of the current 30-Day Evaluation Period and through the end of the subsequent 30-Day Evaluation Period and (ii) any following 30-day Evaluation Periods during which SoFi Bank determines you to have Direct Deposit activity or $5,000 in Qualifying Deposits without interruption.

SoFi Bank reserves the right to grant a grace period to account holders following a change in Direct Deposit activity or Qualifying Deposits activity before adjusting rates. If SoFi Bank grants you a grace period, the dates for such grace period will be reflected on the APY Details page of your account. If SoFi Bank determines that you did not have Direct Deposit activity or $5,000 in Qualifying Deposits during the current 30-day Evaluation Period and, if applicable, the grace period, then you will begin earning the rates earned by account holders without either Direct Deposit or Qualifying Deposits until you have Direct Deposit activity or $5,000 in Qualifying Deposits in a subsequent 30-Day Evaluation Period. For the avoidance of doubt, an account holder with both Direct Deposit activity and Qualifying Deposits will earn the rates earned by account holders with Direct Deposit.

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Source: sofi.com

Apache is functioning normally

February 16, 2024 by Brett Tams

Inside: Embrace financial growth with these top money mantras. Cultivate a wealth mindset, affirm success, and transform your finances for ultimate freedom.

Money mantras have been a game-changer for me, a morning ritual as integral to my day as a cup of steaming tea.

Rather than idly scrolling through my phone or mentally compiling to-do lists, I begin each day by affirming my financial goals and inviting prosperity into my life. This practice isn’t just some esoteric tradition—it’s a targeted strategy that’s led to a tangible increase in my bank balance.

Like the steady rise of the sun, these money mantras illuminate my path toward financial well-being. Each repetition is a step towards cementing a mindset of abundance.

Remember, wealth isn’t just about cash and coins; it’s equally about cultivating the right mindset. Let me tell you, it’s not just my bank account that’s noticed the uptick—the evidence is in the confidence with which I now manage my finances.

Plus with a growth mindset, you will improve your happiness.

Now, it is time to find money mantras that resonate with you!

Top 50 Money Mantras for Your Daily Routine

1. With the power of attraction, I will bring wealth and money into my life.

2. My income is constantly increasing.

3. I gratefully accept all the wealth and abundance the world has to offer me.

4. Money allows me to live the life I want and achieve my goals easily.

5. I am grateful for what I have been blessed with.

6. Money is just a form of energy that flows to me effortlessly and abundantly.

7. Money is a tool that lets me construct my life how I see fit.

8. Large sums of money come to me easily.

9. Every action I take takes me closer to financial success.

10. I am capable of achieving all of my financial goals.

11. Money flows to me effortlessly and abundantly.

12. I am a magnet for financial success and prosperity.

13. My income exceeds my expenses every month.

14. I am worthy of a prosperous life.

15. Financial abundance is my natural state.

16. Wealth constantly flows into my life from multiple sources.

17. Every dollar I spend circulates and returns to me multiplied.

18. I handle my finances with clarity and confidence.

19. My positive energy attracts lucrative opportunities.

20. I am grateful for the wealth and abundance in my life.

21. I make wise and profitable investments.

22. My bank account grows larger every day.

23. The universe is generous with prosperity and so am I.

24. I am financially free and independent.

25. I am aligning with the energy of wealth and abundance.

26. Money comes to me now and always.

27. Making money is easy and enjoyable for me.

28. My wealth is a positive force for good in the world.

29. Financial well-being is mine to claim and enjoy.

30. I am open to receiving all the riches life offers.

31. I am constantly expanding my streams of income.

32. My actions create constant wealth, prosperity, and abundance.

33. Every financial action I take increases my net worth.

34. I am deserving of financial success and security.

35. Money is a tool that enhances my freedom and choices.

36. My financial goals are achievable and realistic.

37. I am in control of my financial destiny.

38. Prosperity flows to and through me.

39. I release all resistance to attracting money.

40. I trust my ability to generate wealth.

41. I attract financial mentors who guide me to abundance.

42. I use money to improve my life and the lives of others.

43. I am empowered to create the prosperity I desire.

44. I am the architect of my financial future.

45. I am worthy of financial abundance and security.

46. Gratitude and generosity are at the heart of my financial affairs.

47. I am surrounded by abundance.

48. My prosperity is unlimited, and my potential is endless.

49. Every action brings me closer to financial freedom.

50. I am an excellent steward of my finances.

How to Integrate Your Money Mantra Chant Into Your Routine

Okay, now you must solidify your money mantra in your life.

Choosing to internalize and act upon these mantras requires discipline, but it is essential for their success.

Each small step taken is progress—whether it’s saving a small portion of your earnings, investing wisely, or learning new skills to increase your earning potential.

Here are some actionable ideas to integrate your money statements into your day-to-day:

Write down your chosen money mantras daily in a journal to solidify their presence in your thoughts.
Customize your phone’s wallpaper.
Use post-it notes on your mirror to keep your money mantras in constant sight.
Place your money mantras on the wall when you roll out of bed.
Keep your money mantra written on a slip of paper inside your wallet.
Put your money mantras all over as your vision board quotes.
Create real-life scenarios where you can live out your money mantras, like calmly budgeting over coffee or tackling financial to-do’s with confidence.
Post your money statement on your social media accounts including X (formerly known as Twitter).
Regularly reflect on your current beliefs, decide what needs to change, and persistently work to align your actions with your new mantra.
Recite your mantras aloud every day, be it during your morning routine or as part of your wellness practices, to constantly reaffirm your financial goals.

You want to be a money magnet as you are manifesting your goals.

The act of doing reinforces belief, and belief paired with action is an unbeatable combination. So select your mantras, make them visible, speak them aloud, and, most importantly, take consistent action toward your financial goals.

How Mantras Can Shift Your Money Mindset

Money mantras have the potential to significantly transform your financial mindset by embedding positivity and empowering beliefs about your interactions with money.

By consistently repeating these money affirmations, you reprogram your subconscious to prioritize healthy financial behaviors and decision-making.

With a mantra such as “I handle money easily and well,” you start creating instances to demonstrate this new belief in action, which serve as evidence to support the mantra.
Whether it’s as simple as calmly reviewing your budget or taking steps to reduce expenses, these actions reinforce the powerful narrative of financial competence.

As you confront and override old, limiting money beliefs, your new mantra gradually becomes second nature, profoundly influencing your approach to money management and fostering a culture of financial literacy within your family.

Integrating Mantras Into Your Financial Strategy

By repeating affirmations such as “I am financially savvy” during routine activities, you rewire your brain to adopt a more positive money mindset and proactive stance toward money management. Instead of focusing on “I am broke.”

For example, when reviewing your bank statements or setting up a savings account, declaring “I am a wealth builder” can transform the experience from mundane to motivational.
Furthermore, concrete actions back up these mantras; intentionally selecting cost-effective options at the grocery store becomes a manifestation of the mantra “I make smart money choices.”

Over time, these repeated positive affirmations, paired with deliberate financial actions, will reinforce a healthier money mindset and can lead to more informed and empowering financial decisions.

What is the best mantra for money?

The absolute best money mantra is one that resonates deeply with your personal financial aspirations and current challenges.

It should be a concise, yet powerful declaration that addresses your core limiting beliefs and transforms them into positive affirmations.

For example, if you’ve historically felt powerless over financial matters, a mantra like “I am in control of my finances and make wise decisions with ease” can be both empowering and personally significant. This is a small step to becoming financially sound.

FAQ About Money Mantras

In my experience, money mantras have proven to be an effective tool in shifting financial mindsets and attracting prosperity. Particularly to increase my liquid net worth.

By declaring intentions like “My income is constantly increasing,” I’ve witnessed the law of attraction work in my favor, with unexpected income sources materializing following my persistent use of these mantras. This practice has not only improved my financial outlook but also reinforced my belief in the power of positive affirmation to create real-world results.

For effective results, financial affirmations should be integrated into your daily routine, ideally twice a day.

Repeat your positive financial statements in the morning can set a constructive tone for your day
An evening repetition aids in reinforcing your goals before sleep.

Consistency is key, and it is often recommended to maintain this practice for at least 21 consecutive days to notice a significant impact on your financial mindset. This habitual action can help to create a powerful shift towards a more positive and proactive approach to your financial goals.

What are your money mantras?

In conclusion, adopting a set of money mantras is an empowering way to reshape your financial narrative and manifest a more prosperous future if you prefer to be financially independent.

These affirmations serve not only as daily reminders of your financial aspirations but also act as a mental reset to overcome deep-seated negative beliefs about money. It is important to take intentional action to reinforce these mantras, thereby transforming them from words on a page to lived truths.

Remember, your mantras are not quick fixes but foundational statements that require commitment and effort to bring about real change.

By steadfastly walking the path of positive financial practices, you will eventually embody the essence of your affirmations—a money-savvy individual who knows that abundance is within reach.

Your financial future is not solely determined by external circumstances; it is shaped by the mindset you cultivate and the actions you take every single day.

Now, make sure you have solid financial goals to go with your mantras.

Did the post resonate with you?

More importantly, did I answer the questions you have about this topic? Let me know in the comments if I can help in some other way!

Your comments are not just welcomed; they’re an integral part of our community. Let’s continue the conversation and explore how these ideas align with your journey towards Money Bliss.

Source: moneybliss.org

Apache is functioning normally

February 16, 2024 by Brett Tams

Portions of this article were drafted using an in-house natural language generation platform. The article was reviewed, fact-checked and edited by our editorial staff.

Key takeaways

A 5/1 ARM loan provides an initial fixed-rate period of five years, after which the interest rate adjusts yearly depending on current market rates.
ARM loans have rate caps, a ceiling for how high your interest rate can go once the introductory fixed-rate period ends.
A 5/1 ARM might be right for you if you plan to sell your home or refinance before the initial fixed-rate period expires.

An adjustable-rate mortgage (ARM) comes with an interest rate that changes over time. Typically, you begin an ARM paying a lower, fixed rate for a set period of time. After that fixed-rate time expires, your rate adjusts to the market rate, either higher or lower. The most common types of ARMs include 3/1, 5/1, 7/1 and 10/1 loans.

What is a 5/1 ARM?

A 5/1 ARM is one type of adjustable-rate mortgage. The “5/1” refers to the length of the fixed-rate period and the frequency of rate changes, respectively. The “5” is the fixed-rate period of the mortgage — the first five years. The “1” is how often the interest rate adjusts after that — once per year.

Another common mortgage is the 5/6 ARM, which adjusts every six months after the initial five-year period.

How does a 5/1 ARM loan work?

The clock starts ticking on your 5/1 ARM as soon as you close the loan. If you were to close the mortgage in July 2024, for example, your rate wouldn’t change again until July 2029.

When this adjustment happens, the lender recalculates the interest on your loan going forward depending on how the rate has changed, up or down. One year later, your loan will adjust again, and the process will repeat to the end of the loan term. If your rate goes up, your monthly payment will also go up. The inverse is also true.

ARMs are uniquely structured to allow for a lower introductory rate and subsequent adjustments, but your rate can’t just keep climbing indefinitely. On your closing documents, you’ll see the following:

Introductory or “teaser” rate: This refers to the interest rate you’ll pay during the initial fixed-rate period.
Adjustment intervals: This indicates the frequency at which the rate can change. It can also be referred to as the reset date.
Initial adjustment cap: This cap is the maximum amount by which the rate can rise at the first adjustment, often 2 or 5 percentage points higher than the initial rate.
Periodic rate cap: The periodic rate cap, also called the subsequent adjustment cap, is the maximum amount by which the rate can change each time it resets, typically 2 percentage points higher than the prior rate.
Lifetime cap: This is the maximum amount by which the rate can change over the life of the loan. This varies by lenders, but is generally 5 percentage points.

Knowing the caps on how much your interest rate could increase can help you plan and budget for future payments after the initial fixed-rate period ends. Alternatively, if you think you wouldn’t be able to afford higher payments, then exploring a fixed-rate loan might be a better option.

Example of a 5/1 ARM loan

Let’s say you take out a 5/1 ARM loan for $300,000 with a 6.5 percent interest rate. For the first five years of the 30-year loan, your rate would be locked in at 6.5 percent, making your monthly payment about $2,045 during that time. With a 5 percent lifetime cap on your loan, your potential maximum monthly payment would be roughly $3,140.

You can use our adjustable-rate mortgage calculator to estimate your monthly payments and see how they might change over the loan’s term.

What index does the 5/1 ARM use?

The index is a major factor in determining the rate you pay on your ARM. ARMs are typically tied to the 11th District Cost of Funds Index (COFI) or the Secured Overnight Financing Rate, also known as SOFR. You can find out the specific index your lender uses on your loan estimate paperwork. If the yield on that index increases, your ARM rate also increases.

Pros and cons of a 5/1 ARM

Pros of a 5/1 ARM

Cheaper to start: A 5/1 ARM has more affordable monthly payments, at least initially, compared with a 30-year fixed mortgage.
Your rate could decrease after the initial period: If interest rates are falling, your monthly payment will also decrease after the initial period, and potentially during future resets.

Cons of a 5/1 ARM

Could cost you much more: An ARM exposes you to higher rates after the fixed period is over. If rates have risen, your monthly payment will increase.
Complexity: There are more moving parts to an adjustable-rate mortgage than a fixed one. Rate caps, indexes, resets — this can get pretty technical for the average borrower.
Interest-only trap: Some ARMs allow you to make only interest payments, not principal, in the initial period. That can allow you to stretch your budget and lower your payment, but after the fixed period your payments will be much higher to include the principal. Aside from hurting your budget, if home values drop, you could find yourself underwater on the loan.

Keep in mind that despite its pros, a 5/1 ARM isn’t best for everyone.

“The differential between the initial rate on an ARM and that of a fixed rate mortgage isn’t always the same, but the risk of future rate adjustments is always there,” says Greg McBride, CFA, chief financial analyst for Bankrate. “Sometimes the difference in [the] initial rate is slight enough that you don’t get enough benefit to justify the risk. An ARM can make sense if you don’t plan to be in the home long enough to see the first rate adjustment, such as if you plan to move again within the next 5 years. But even if you go this route, beware that if your initial timetable doesn’t pan out, you could face higher payments when the rate begins to adjust.”

How 5/1 ARMS compare to other loans

5/1 ARM vs. other ARMs: Other ARMs, such as a 10/1 or 7/1 ARM, work in a similar way to 5/1 ARMs, except the length of the initial fixed-rate period and the interest rate will differ. For a 10/1 ARM, the initial rate is fixed for the first decade rather than five years, and for a 7/1 ARM, the initial rate adjusts after the first seven years. Rates likely will be slightly higher on a 10/1 and 7/1 ARM compared to a 5/1 ARM because they have longer introductory fixed-rate periods.
5/1 ARM vs. fixed-rate mortgage: The introductory fixed rate on a 5/1 ARM is often considerably lower than the one on a 30-year fixed-rate loan. That translates to a lower monthly payment, at least initially. Of course, the drawback is uncertainty. After five years, your ARM rate and monthly payment could rise. With a fixed-rate loan, you’ll know exactly how much you’ll pay over the life of the loan, making the payments easier to budget for.

When to consider a 5/1 ARM loan

If you’re in the market for a mortgage, a 5/1 ARM might be a good fit in a few situations:

You plan to refinance or sell soon. If you don’t plan to keep the loan for more than five years, you’ll never deal with a rate adjustment. You’ll need to have a concrete plan for how you’ll get out of the loan, however, whether that’s moving or refinancing. If you want to refinance, keep in mind you’ll need to be able to qualify for it, as well as pay closing costs.
You expect your income to increase over time. If you know you’ll be bringing in more income five years from now, you might be able to handle a potential increase in payment. This might be the case if you’re a doctor just coming out of medical school, for example, or in some other similar profession with a lucrative earnings horizon.
Your budget supports the maximum payment. If you’re well off financially, a bump in rate and payment might not matter much in your budget. This lowers the risk of rate adjustments considerably — but it also means you might not have as much left over for other financial goals, like investing or saving for retirement.

5/1 ARM FAQ

When you take out a 5/1 ARM, there’s a chance your interest rate and payment could increase once the initial fixed-rate period ends. To prepare for an increase in your payment, you can budget accordingly or seek guidance from a housing counseling agency approved by the U.S. Department of Housing and Urban Development (HUD). You can also refinance your ARM loan to a fixed-rate mortgage if you can secure a lower rate and plan to stay in the home long enough to break even on closing costs.
ARM loans require a minimum credit score, though the exact number depends on the type of ARM. Conventional ARMs require a minimum credit score of 620, while FHA ARMs require a minimum credit score of 580. VA ARMs do not have a specific credit score requirement, but they do require a debt-to-income ratio of no greater than 41 percent.

In addition, your debt-to-income ratio must be 43 percent or less (some lenders may accept no more than 50 percent). For down payments, conventional ARMs require a minimum of 5 percent down, while FHA ARMs require a minimum of 3.5 percent. VA ARMs do not require a down payment.
You can make sure you have a high credit score before applying for a loan. Borrowers with excellent credit scores are typically offered the best mortgage rates by lenders. You can also make a higher down payment, which decreases your loan-to-value ratio (LTV) and in turn can help you get a lower mortgage rate.

You might think paying for mortgage points will also help you get the best initial interest rate on a 5/1 ARM, but this isn’t necessarily the smart move.

”It often takes five to six years before the cost paid for points upfront is recouped through the lower monthly payments,” says McBride. “Taking a 5/1 ARM makes sense if you plan to move within the next five years, but paying points to further reduce the rate would take longer than five years to recoup. If you have the cash to pay points, this is better suited when you plan to have the loan long enough to recoup the costs, such as a 10-year ARM or a fixed rate mortgage.”

Source: bankrate.com

Apache is functioning normally

February 15, 2024 by Brett Tams

Credit card debt is a widespread issue that affects countless Americans, becoming a heavy burden that can disrupt financial stability and well-being. Whether due to unforeseen expenses, medical emergencies, or the convenience of online shopping, the roots of accumulating debt vary widely across individuals.

However, when debt reaches overwhelming levels, seeking ways to reduce or eliminate it becomes a critical goal. This is where the concept of debt settlement enters the picture—a strategy that involves negotiating with creditors to resolve a debt for less than the total amount owed.

The path to settling credit card debt might appear challenging, but armed with the correct information and strategies, it’s entirely possible to regain control over your financial destiny. This article aims to provide a comprehensive guide through the different paths available for settling credit card debt, ranging from self-managed methods to seeking professional assistance.

By gaining an understanding of your options, the steps involved, and the implications of each decision, you can make choices that align with your financial situation and objectives.

Understanding Your Debt Settlement Options

When faced with credit card debt, choosing the best strategy to reduce what you owe can seem overwhelming. However, understanding your options can simplify this process, making it clearer and more manageable. Whether you’re considering a do-it-yourself approach, thinking about seeking legal advice, or pondering the assistance of a debt relief service, it’s crucial to weigh the benefits and challenges of each method.

DIY Settlement Strategies

Settling debt on your own can be empowering and financially beneficial, as it saves you the fees associated with professional debt settlement companies. This approach requires you to directly contact your credit card company to negotiate a settlement—a lump sum payment that’s less than the total amount owed.

To succeed, you’ll need to be well-prepared: research your credit card company’s policies on debt settlement, understand your financial situation thoroughly to know how much you can afford to offer, and be ready to present your case persuasively. While this method demands significant time and effort, it allows you to maintain complete control over the negotiation process.

Consulting with a Debt Settlement Attorney

For those who prefer professional guidance, consulting with a debt settlement attorney can provide valuable legal insights and negotiation leverage. An attorney can evaluate your financial situation from a legal standpoint, offer advice on the feasibility of a settlement, and represent you in negotiations with creditors.

This option is particularly beneficial if you’re facing lawsuits from creditors or if your debt situation is complex. While hiring an attorney involves legal fees, their expertise can lead to more favorable settlement terms and protect you from potential legal pitfalls.

Engaging a Professional Debt Settlement Company

Debt settlement companies act as an intermediary between you and your creditors. These services negotiate on your behalf to reduce the total amount of debt you owe. Opting for a debt relief company can be a good choice if you’re uncomfortable handling negotiations yourself or if you have a significant amount of debt.

It’s important to do thorough research before selecting a debt settlement company: look for reputable companies with transparent fee structures and positive customer reviews. Keep in mind, however, that while a debt relief service can simplify the process, it also means you’ll pay a fee for their assistance, which is typically a percentage of the debt reduced or settled.

Evaluating Whether Debt Settlement Is the Right Choice for You

Deciding to settle credit card debt is a significant financial decision that requires careful consideration of your personal circumstances. It involves analyzing your financial situation, understanding the advantages and drawbacks of settlement, and considering other potential strategies for managing debt.

Assessing Your Financial Situation

The first step in determining if debt settlement is the right path involves a thorough assessment of your financial situation. This means taking stock of all your debts, including credit card balances, loans, and any other financial obligations.

Additionally, evaluate your income, monthly expenses, and any savings or assets you may have. This comprehensive financial overview will provide clarity on how much you can realistically afford to pay towards settling your debts. If you find that your debts far exceed your capacity to pay, and you’re experiencing financial hardship, debt settlement might be a viable option to consider.

The Pros and Cons of Debt Settlement

Before deciding on debt settlement, it’s essential to understand both the benefits and potential drawbacks.

Pros

Reduced debt: The most significant advantage is the possibility of paying off your debt for less than the full amount owed, potentially saving you thousands of dollars.
Avoiding bankruptcy: For many, working with a debt settlement company is a preferable alternative to bankruptcy, which has a longer-lasting impact on your credit scores.

Cons

Credit score impact: Settling your debt can negatively affect your credit score in the short term, as it involves paying less than the agreed-upon amount.
Potential fees: If you use a debt settlement company, you will likely incur fees, which can be substantial.
Tax implications: Forgiven debt may be considered taxable income, which could increase your tax liability.

The Step-by-Step Process to Negotiate Credit Card Debt Settlement on Your Own

Tackling credit card debt through settlement is a proactive approach to managing financial challenges. This process involves several key steps, each designed to help you successfully negotiate with credit card companies and reach a settlement that reduces your debt. Here’s a structured guide to navigating this journey on your own.

1. Educate Yourself on Debt Settlement

Begin by conducting thorough research on how to settle your debt. Learn about the process, its impact on your credit scores, and the legal factors involved. Become familiar with the typical practices in this area, including the average percentage by which debts can be reduced. Gaining knowledge in these areas is crucial and equips you for effective negotiation with credit card companies.

2. Inventory Your Debts

Compile a detailed list of all your debts, including credit card company information, outstanding balances, interest rates, and monthly payment amounts. This comprehensive overview will clarify the total amount you owe and help you prioritize which debts to settle first based on their impact on your financial health.

3. Analyze Your Financial Capacity

Assess your financial situation by reviewing your income, expenses, and available assets. This analysis will help you determine how much you can realistically afford to offer in a settlement without compromising your basic living needs. Creating a budget, if you haven’t already done so, is a crucial step in this process.

4. Organize Your Negotiation Strategy

Before contacting your credit card issuer, develop a clear negotiation strategy. Decide on the initial settlement offer you’re comfortable with and the maximum amount you’re willing to pay. Also, plan how to address any counteroffers from the credit card company. Having a strategy in place will help you navigate the negotiation process more effectively.

5. Establish Communication with Credit Card Companies

Initiate contact with your credit card companies to express your interest in negotiating a settlement. It’s often best to start this communication in writing, followed by phone calls. Be polite, concise, and clear about your financial situation and your desire to settle the debt.

6. Negotiate with Persistence and Patience

Negotiation is a process that requires both persistence and patience. A credit card company may initially resist your settlement offers, so be prepared to negotiate firmly but respectfully. Keep detailed records of all communications and offers made during the negotiation process.

7. Secure and Review the Settlement Agreement

Once you reach an agreement, request a written settlement agreement from the credit card company. Review this document carefully to ensure it accurately reflects the terms you negotiated, including the settlement amount and any conditions regarding the reporting of the debt to credit bureaus.

8. Fulfill the Settlement Terms Diligently

After securing the settlement agreement, adhere to the terms diligently. Make the agreed-upon payment by the specified deadline to ensure the settlement is honored. Once the payment is made, confirm that the account is reported as settled on your credit report.

Negotiating a credit card debt settlement on your own can be challenging, but with thorough preparation and a strategic approach, it’s possible to reduce your debt and move towards financial recovery.

Alternatives to Debt Settlement

Turning to a debt settlement company is only one of several strategies for handling overwhelming debt. It’s crucial to explore all available options to make an informed decision that aligns with your financial situation and goals. Here’s a more comprehensive look at the alternatives:

Debt Consolidation

Debt consolidation involves taking out a new loan to pay off multiple debts, effectively combining them into a single debt with one monthly payment. This approach is particularly beneficial if you can secure a consolidation loan with a lower interest rate than your current debts.

The advantages include simplifying your monthly payments, potentially lowering your overall interest rate, and providing a clear timeline for debt repayment. However, it requires a good credit score to obtain favorable loan terms.

Credit Counseling

Credit counseling agencies offer a valuable service for those struggling with debt. They work with you to create a personalized debt management plan (DMP) and can often negotiate lower interest rates and waived fees with your creditors.

Enrolling in a DMP means making a single monthly payment to the credit counseling agency, which then distributes the funds to your creditors according to the plan. A credit counselor can help you manage your debts more effectively without taking on new loans, but usually involves a small monthly fee.

Bankruptcy

Filing for bankruptcy is a legal process that offers a way out for those in severe financial distress. There are two main types of bankruptcy for individuals: Chapter 7, which liquidates your assets to pay off as much debt as possible, and Chapter 13, which sets up a repayment plan to pay back debts over time.

Bankruptcy can severely impact your credit scores and your ability to obtain future credit, but it provides a clean slate for those who have no other way to manage their debts. It’s advisable to speak to a bankruptcy attorney to understand the implications fully.

Budget Adjustments

Sometimes, the solution to managing debt is as straightforward as adjusting your budget. Reviewing your income and expenses meticulously to identify areas where you can cut back can free up additional funds to pay down your debt.

This might include reducing discretionary spending, canceling subscriptions, or finding ways to increase your income. While it requires discipline and may involve some lifestyle changes, this approach avoids the potential negative impacts on your credit score associated with other debt relief strategies.

Preparing for Life After Settlement

Successfully negotiating a debt settlement marks a significant milestone in your financial journey. However, the path to full financial recovery extends beyond just settling your debts.

Preparing for life after settlement involves taking proactive steps to monitor your credit report, rebuild your credit score, and develop healthy financial habits. These actions are crucial for ensuring long-term financial health and avoiding future debt issues.

Monitor Your Credit Report

After settling your debts, it’s important to regularly check your credit report from the three major credit bureaus—Equifax, Experian, and TransUnion. Ensure that the settled debts are accurately reported and reflect a zero balance.

Monitoring your credit report helps you catch and correct any inaccuracies or errors that could negatively affect your credit scores. It also keeps you informed of your credit status, which is essential for rebuilding credit. You’re entitled to one free credit report from each bureau per year through AnnualCreditReport.com, making it easier to keep tabs on your financial standing.

Rebuilding Your Credit Scores

Settling your debts can impact your credit scores, so focusing on rebuilding it is crucial. Start by making any remaining debt payments on time, as payment history is a significant factor in your credit scores.

Consider using a secured credit card, which requires a deposit that serves as your credit limit. Using this card responsibly and paying the balance in full each month can help demonstrate your creditworthiness and improve your credit scores over time. Additionally, keeping your credit utilization ratio low—below 30% of your available credit—is key to showing lenders you can manage credit effectively.

Developing Healthy Financial Habits

The final step in securing your financial future is developing and maintaining healthy financial habits. Create a realistic budget that accounts for your income, expenses, savings, and investments. Stick to this budget to avoid overspending and to ensure you’re saving adequately for emergencies and future goals.

Prioritize building an emergency fund with enough savings to cover at least three to six months of living expenses. This fund can help you avoid falling back into debt in case of unexpected expenses. Finally, continue educating yourself on financial management and seek professional advice when necessary to make informed decisions about investing and saving for the future.

Frequently Asked Questions

What happens if I miss a payment on a settled debt?

If you miss a payment on a settled debt, it could potentially void the settlement agreement, leading the credit card company to possibly demand the full original amount owed or take legal action against you. It’s crucial to adhere to the terms of the settlement agreement and make payments on time. If you foresee difficulties making a payment, contact the credit card company immediately to discuss your options.

Can I settle debt that’s already in collections?

Yes, you can settle debts that have been transferred to a collection agency. In fact, collection agencies might be more willing to negotiate a settlement since they acquire debts at a fraction of the original amount owed.

Negotiating with a debt collector follows a similar process to negotiating with the original creditor, but ensure any agreement is documented and that you understand the impact on your credit report.

How does debt settlement affect my ability to get new credit?

Debt settlement can impact your credit scores and might be viewed negatively by future lenders, as it shows you did not pay the full amount owed. This can make obtaining new credit more challenging, at least in the short term. However, as you rebuild your credit over time and demonstrate financial responsibility, lenders may be more willing to extend credit to you.

Should I use my savings to settle debts?

Using savings to settle debts can be a viable strategy, especially if it significantly reduces your financial burden and avoids accruing additional interest. However, consider keeping enough in your savings for emergencies.

Evaluate your financial situation carefully to make an informed decision. Consider working with a financial advisor to ensure you’re not putting yourself at risk for future financial emergencies.

How long does a settled debt stay on my credit report?

A settled debt typically remains on your credit report for seven years from the date of the original delinquency that led to the settlement. While the impact of the settled debt on your credit scores decreases over time, it’s important to focus on rebuilding your credit by maintaining good financial habits.

Source: crediful.com

Apache is functioning normally

February 14, 2024 by Brett Tams

In our ongoing quest to address the disheartening homeownership rate of 44%, it becomes imperative to explore innovative solutions that can propel more individuals into home ownership. One promising avenue that deserves attention is the facilitation of small cap mortgages. However, to make a significant impact, it is crucial to incentivize banks, mortgage companies, and financial institutions to engage in this form of lending, while ensuring that loan officers are equally motivated. Property is not just a tangible asset; it is a symbol of power, economic stability, and wealth-building. As we navigate the complex landscape of homeownership, particularly for African Americans, the significance of mortgage loans cannot be overstated. Black homeowner buyers have found themselves either priced out of the housing market or compelled to seek homeownership elsewhere.

Bridging the Housing Gap

In the pursuit of more affordable housing the key to achieving this lies in increasing homeownership through mortgage lending at a diversity of price points. A recent report has identified small-dollar mortgages, ranging from $20,000 to $100,000, as a potential solution to provide relief to aspiring Black homeowners.

Challenges in the Current System

The need for small dollar mortgages is underscored by the fact that most financial institutions are reluctant to engage in loans for amounts less than $100,000. This reluctance creates a systemic barrier. The Urban Institute revealed that the availability of small mortgage loan financing is limited, posing a significant hindrance to affordable homeownership.

Limited Access to Affordable Housing

Affordable housing supply remains a major issue, and the lack of financing options for low-cost properties exacerbates the problem. By facilitating the purchase and improvement of these properties through small-dollar mortgages, access to the nation’s limited supply of affordable housing can be improved. Urban Institute’s previous findings indicate that fewer lenders are willing to provide small mortgages, and applicants are more likely to face denials for smaller loan amounts compared to larger ones. This is something that I have experienced many times.

Incentivizing Lenders:

To encourage financial institutions to delve into small cap mortgages, policymakers and regulatory bodies should consider offering targeted incentives. These incentives could take various forms, such as tax breaks, reduced regulatory burdens, or financial support for institutions engaging in a higher volume of small cap lending. By creating a favorable environment for lenders, we can foster increased participation in this critical sector.

Loan Officer Motivation:

Recognizing the crucial role loan officers play in the mortgage approval process, it is essential to ensure that they are motivated to actively promote small cap mortgages. Financial institutions can implement performance-based incentives, training programs, and career development opportunities specifically tailored to small cap lending. By aligning the goals of loan officers with the broader objective of increasing homeownership, we create a more sustainable and impactful lending ecosystem.

Collaborative Initiatives:

Government entities, along with industry stakeholders, should collaborate to establish initiatives that promote small cap mortgages. One possible avenue is the creation of funds or grants dedicated to supporting lenders who actively contribute to increasing homeownership through small cap loans. These collaborative efforts can serve as a catalyst for financial institutions to view small cap mortgages not just as a social responsibility but as a viable business opportunity.

Community Engagement:

Engaging local communities is pivotal in expanding access to small cap mortgages. Establishing partnerships between lenders and community organizations can create awareness, provide educational resources, and offer counseling services for potential homeowners. By fostering a sense of community ownership and responsibility, we can encourage financial institutions to prioritize small cap lending as a means of contributing to the prosperity of the communities they serve.

In Summary

The role of small cap mortgages is pivotal. Breaking down the barriers that limit access to affordable housing and empowering individuals with the means to purchase homes at various price points is crucial for building stable neighborhoods and fostering wealth in communities. In addressing the challenge of a 44% homeownership rate, the promotion of small cap mortgages emerges as a viable solution. By incentivizing banks, mortgage companies, and financial institutions, and ensuring loan officers are motivated… we can pave the way for a brighter future where more individuals can realize the dream of owning a home. Through collaborative efforts, community engagement, and targeted initiatives, we can collectively work towards a higher homeownership rate in the black community this not only strengthens the housing market but also enhances the overall well-being of our neighborhoods.

Dr. Anthony O. Kellum – CEO of Kellum Mortgage, LLC Advocate for Access to credit, Speaker, Author NMLS # 1267030 NMLS #1567030 O: 313-263-6388 W: www.Kellumortgage.com.

Property is Power! is a movement to promote home and community ownership. Studies indicate,

homeownership leads to higher graduation rates, family wealth, and community involvement.

About Post Author

Source: michiganchronicle.com

Apache is functioning normally

February 14, 2024 by Brett Tams

Tracking down an old 401(k) may take some time, and perhaps the quickest way to find old 401(k) money is to contact your former employer to see where the account is now. It’s possible that your lost 401(k) isn’t lost at all; instead, it’s right where you left it.

In some cases, however, employers may cash out an old 401(k) or roll it over to an IRA on behalf of a former employee. In that case, you might have to do a little more digging to find lost 401(k) funds. If you ever wished you could click on an app called “Find my 401(k),” the following strategies may be of use.

4 Ways to Track Down Lost or Forgotten 401(k) Accounts

There’s no real secret to how to find old 401(k) accounts. But the process can be a little time consuming as it may require you to search online or make a phone call or two. But it can be well worth it if you’re able to locate your old 401(k).

There are several ways to find an old 401(k) account. Here are a handful that may prove fruitful.

Contact Former Employers

The first place to start when trying to find old 401(k) accounts is with your previous employer.

If you had more than $5,000 in your 401(k) at the time you left your job, it’s likely that your account may still be right where you left it. In that case, you have a few options for what to do with the money:

• Leave it where it is

• Transfer your 401(k) to your current employer’s qualified plan

• Rollover the account into an Individual Retirement Account (IRA)

• Cash it out

When your plan balance is less than $5,000 your employer might require you to do a 401(k) rollover or cash it out. If you’re comfortable with the investment options offered through the plan and the fees you’ll pay, you might decide to leave it alone until you get a little closer to retirement. On the other hand, if you’d like to consolidate all of your retirement money into a single account, you may want to roll it into your current plan or into an IRA.

Cashing out your 401(k) has some downsides. You would owe taxes on the money, and likely an early withdrawal penalty as well. So you may only want to consider this option if your account holds a smaller amount of money. If you had less than $5,000 in your old 401(k), it’s possible that your employer may have rolled the money over to an IRA for you or cashed it out and mailed a check to you.

Track Down Old Statements

If you have an old account statement, you can contact your 401(k) provider directly to find out what’s happened to your lost 401(k). This might be necessary if your former employer has gone out of business and your old 401(k) plan was terminated.

When a company terminates a 401(k), the IRS requires a rollover notice to be sent to plan participants. If you’ve moved since leaving the company, the plan administrator may have outdated address information for you on file. So you may not be aware that the money was rolled over.

Either way, your plan administrator should be able to tell you which custodian now holds your lost 401(k) funds. Once you have that information, you could reach out to the custodian to determine how much money is in the account. You can then decide if you want to leave it where it is, roll it over to another retirement account, or cash it out.

Check With Government Agencies

Different types of retirement plans, including 401(k) plans, are required to keep certain information on file with the IRS and the Department of Labor (DOL). One key piece of information is DOL Form 5500. This form is used to collect data for employee benefit plans that are subject to federal ERISA (Employee Retirement Income Security Act) guidelines.

How does that help you find your 401(k)? The Department of Labor offers a Form 5500 search tool online that you can use to locate lost 401(k) plans. You can search by plan name or plan sponsor. If you know either one, you can look up the plan’s Form 5500, which should include contact information. From there, you can reach out to the plan sponsor to track down your lost 401(k).

Search National Registries

Another place to try is the National Registry of Unclaimed Retirement Benefits. This is an online database you can use to search for an unclaimed 401(k) that you may have left with a previous employer. You’ll need to enter your Social Security number to search for lost retirement account benefits.

In order for your name to come up in the search results, your former employer must have entered your name and personal information in that database. If they haven’t done so, it’s possible you may not find your account this way.
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What Should I Do With Recovered Funds?

If you do manage to recover an old 401(k) account and its assets, you’ll have some options as to what to do with it. In many cases, it might be a good idea to roll it over into another retirement account to try and stay on track with your retirement savings.

Another important point to consider: If you’ve changed jobs multiple times, it’s possible that you could have more than one “lost” 401(k) — and taken together, that money could make a surprising difference to your nest egg.

Last, if you were lucky to have an employer that offered a matching 401(k) contribution, your missing account (or accounts) may have more money in them than you think. For example, a common employer match is 50%, up to the first 6% of your salary. If you don’t make an effort to find old 401(k) accounts, you’re missing out on that “free money” as well.

But if you’re unsure of what to do, it may be worth speaking with a financial professional for guidance.

Further, if you’re not able to find lost 401(k) accounts you still have plenty of options for retirement savings. Contributing to your current employer’s 401(k) allows you to set aside money on a tax-deferred basis. And you might be able to grow your money faster with an employer matching contribution.

What if you’re self-employed? In that case, you could choose to open a solo or individual 401(k). This type of 401(k) plan is designed for business owners who have no employees or only employ their spouses. These plans follow the same contribution and withdrawal rules as traditional employer-sponsored 401(k) plans, though special contribution rules apply if you’re self-employed.
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The Takeaway

There are several ways to try and find an old 401(k) account, but for most people, the best place to start is by contacting your old employers to see if they can help you. From there, you can also try reaching out to government agencies, tracking down old statements, or even searching through databases to see what you can find.

Saving for retirement is important for most people who are trying to reach their financial goals – as such, if you have money or assets in a retirement account, it may be worthwhile to try and track it down. Again, it may be worth consulting with a financial professional if you need help.

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FAQ

Is it possible to lose your 401(k)?

It’s possible to lose money from your 401(k) if you’re cashing it out and taking a big tax hit or your investments suffer losses. But simply changing jobs doesn’t mean your old 401(k) is gone for good. It does, however, mean that you may need to spend time locating it if it’s been a while since you changed jobs.

Do I need my social security number to find an old 401(k)?

Generally, yes, you’ll need your Social Security number to find a lost 401(k) account. This is because your Social Security number is used to verify your identity and ensure that the plan you’re inquiring about actually belongs to you.

What happens to an unclaimed 401(k)?

Unclaimed 401(k) accounts may be liquidated or converted to cash if enough time passes, and that cash could be transferred to a state government, where it will be held as unclaimed property.

Can a financial advisor find old 401(k) accounts?

A financial advisor may be able to help, but the simplest way to find old 401(k) accounts is contacting your former employer. It’s possible your money may still be in your old plan and if not, your previous employer or plan administrator may be able to tell you where it’s been moved to.

Photo credit: iStock/svetikd

SoFi Invest®
INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE
SoFi Invest encompasses two distinct companies, with various products and services offered to investors as described below:
Individual customer accounts may be subject to the terms applicable to one or more of these platforms.

1) Automated Investing and advisory services are provided by SoFi Wealth LLC, an SEC-registered investment adviser (“SoFi Wealth“). Brokerage services are provided to SoFi Wealth LLC by SoFi Securities LLC.

2) Active Investing and brokerage services are provided by SoFi Securities LLC, Member FINRA (www.finra.org)/SIPC(www.sipc.org). Clearing and custody of all securities are provided by APEX Clearing Corporation.

For additional disclosures related to the SoFi Invest platforms described above please visit SoFi.com/legal.

Neither the Investment Advisor Representatives of SoFi Wealth, nor the Registered Representatives of SoFi Securities are compensated for the sale of any product or service sold through any SoFi Invest platform.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

Claw Promotion: Customer must fund their Active Invest account with at least $10 within 30 days of opening the account. Probability of customer receiving $1,000 is 0.028%. See full terms and conditions.

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Source: sofi.com

Apache is functioning normally

February 14, 2024 by Brett Tams

Many people want to be rich or make a lot of money. However, most of those people will never do any research on how to make money or how money works. If you want to make a lot of money you need to learn about money! You can’t just hope and pray that someday a lot of money happens to fall in your lap. A lot of people also make a good income but have nothing to show for it. Being rich or wealthy is not just about making money but learning how to keep it and invest it as well.

Do you know much about money?

Most people think they know about money and we all know a little bit about money but very few of us know a lot about money. Very few of us study money. I have a business finance degree and even with that degree I did not learn that much about money. I learned the basics about economics and inflation, and investing, but it was all pretty basic stuff even with a four-year degree in finance.

There are people who have much more education in the finance world than me and you may ask why should you listen to me? Not only do I have some education in finance but I have started, run, and bought multiple businesses in the real world and been fairly successful. Even with higher education, you miss a lot of the real-world education needed to fully understand money. I still don’t know everything but I have learned a lot over the years and like to teach others.

What are the bare necessities you should know about money?

There are so many things to know about money. I am not sure anyone could ever learn it all. Not only are there the basics of money but there are new concepts appearing all the time like crypto. If someone did learn it all it would not take long for something new to pop that they would have to learn as well. My point here is not to overwhelm you but to let you know you don’t have to know everything and don’t get overwhelmed with how many different topics about money there are.

If you learn one thing new, you are better off than you were before. We can all benefit from learning and you don’t need to know everything.

Here are some topics that everyone should know about:

Interest: Interest rates you are charged and how to make money with interest as well
Budgets: What are you spending your money on
Income: How to make money with a career, side gigs, businesses, etc
Inflation: How it impacts you and how to use it to your advantage
Leverage: How using loans can increase your returns
Debt: How using the right debt can make you money while the wrong debt can be very dangerous
Investing: Many people make a lot of money each year but have nothing to show for it, learning to invest is just as important as making money.
Cars, housing, material goods: Buying a house is usually the best choice and most people need a car but what kind of cars or houses should you buy and when?
Education: Many people assume college is the best route but it may not be the route everyone should or wants to take. Education can be very expensive and crippling financially.

These are a few of the topics everyone should know about but there are even more depending on what you want to do and what your goals are. It is not easy to learn about money and it is not easy to make a lot of it and invest it so that you grow it.

Who should you learn about money from?

The tough part about learning the ins and outs of money is there is so much information out there. There are many paths and everyone claims theirs is the right way. I will start by saying there is no best way or right way for everyone. We all have different goals and work in different manners. There are people that tell you all debt is bad and even that credit scores are not needed. This strategy may work for some people, but it is a horrible strategy for others.

Using debt on real estate made me many millions of dollars. If I had paid cash for everything there is no way I would be where I am today. Debt can also get people into a lot of trouble if they do not have the discipline to handle it. I also love exotic cars and needed to find ways to make a lot of money to fulfill my dreams. Others may have much different dreams that don’t need any money at all.

I think if you are looking to learn about money, try to learn from those who resonate with you the best. Don’t choose someone because other people are or they advertise the most. Search out people who teach about money, learn how they made their money, and if that is similar to what you want to do, see what you can learn from them. I also see a lot of people out there giving money advice who never did what they teach and make almost all of their money from giving that advice that they never lived.

How should you learn about money?

You can learn about money through many different sources:

Books
Blogs
YouTube
Social Media
Movies
Friends/Family
Courses./seminars

I have learned about money through all of these sources. I have read many books, some good and some bad but I always try to take away at least one thing from each book I read. I have read many articles on money (and written them as well). The problem with articles and videos is anyone can write them or create them who may know what they are talking about or have no clue. I love watching movies about money and success and seeing what the characters do. Again, this must be taken with a grain of salt because they are mostly fiction. Friends and family have given me a lot of advice as well but not all of it was good advice. I have also taken courses, paid for masterminds, and attended seminars to learn about money and real estate. I have even spoken at a few as well. These can be a great source of education but you must also be careful as seminars can lead to massively expensive courses with little information.

We all like to learn in different ways and I would start with the medium that works best for you but don’t be lazy and pick the easiest one. I think it is also important to find the people who resonate the best with you. If they don’t offer the medium you prefer you might have to bite the bullet and get out of your comfort zone.

Do you want to learn from me?

I may or may not be the person you want to learn about money from. If you are super conservative and just want a paid-off house, there may be other people who fit the bill better. If you are looking to make some big jumps in your finances as far as investing and earning I may be able to help you out. Nothing is guaranteed and there is no get-rich-quick scheme but there are ways to speed things up. I have used them personally and I continue to use them to this day as I am an active real estate investor with multiple businesses. I have written 10 books, most on real estate but I have one on money and mindset.

How to Change Your Mindset to Achieve Huge Success: Why your attitude and daily habits have more to do with making more money and having more freedom than anything else.

I also created an affordable, in-depth course about money as well which includes all the subjects I listed above and then some. Don’t worry, it is not thousands of dollars or even hundreds of dollars. I made it affordable because I think everyone should know about money.

InvestFoureMore Money Mastery (just $49)

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Source: investfourmore.com

Apache is functioning normally

February 13, 2024 by Brett Tams

Inside: Embark on a profitable journey with our guide on starting a bookkeeping business. Find the steps on how to become a bookkeeper and find success.

Starting a bookkeeping business from scratch can be an exciting yet nerve-wracking venture.

For many budding entrepreneurs, the formidable task of setting up a business adds a mix of anxiety and anticipation. The initial trepidation often stems from dealing with the unknowns of a new venture and the pressure of ensuring meticulous financial management of someone else’s finances.

However, with thorough planning and an understanding of the essential steps, such as crafting a solid business plan and obtaining the necessary certifications, these nerves can be managed.

By embracing your entrepreneurial spirit and equipping yourself with the right knowledge, you can lay a strong foundation for a successful bookkeeping business.

Plus it is easier to get started than you thought…

This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.

What is a bookkeeping business?

At its core, a bookkeeping business manages the financial records of other businesses. They ensure accuracy, track receipts and expenses, and prepare financial statements – the financial bedrock upon which enterprises stand.

With an emphasis on accuracy and organization, they are responsible for keeping the financial data up to date and available for strategic decisions.

For many, this is a popular way to make money online.

Earn Extra Income with Bookkeeping

Bookkeeping is the most stable, reliable & simple business to own. This is how to make a realistic income -either part-time or full-time.

Find out TODAY if this is THE business you’ve been looking for.

Show Me How

First Steps to Starting a Bookkeeping Business

Craft a Comprehensive Business Plan for Success

Your roadmap to success begins with a business plan. This document is crucial—it outlines your vision, goals, unique value proposition, target market, competitive landscape, marketing strategies, and detailed financial forecasts. Think of it as your strategic compass guiding you from startup to growth.

This takes your side hustle to an actual living thriving business.

Remember, your business plan is a living document. You must regularly review and update your business plan will help you stay on track toward your business objectives and adjust course as necessary to meet new challenges or opportunities.

Acquire Essential Certifications and Training

By obtaining the right certifications and training, you not only perfect your craft but also send a message of reliability and professionalism to prospective clients. While this may require an investment of time and resources, the credibility and expertise you gain are invaluable assets for your bookkeeping business.

Select bookkeeping courses that cover crucial topics such as accounting principles, financial statements, tax preparation, and accounting software. This education will deepen your understanding and sharpen your skills.
Stay updated with continuing professional education (CPE) credits to keep your certifications active and your knowledge fresh.
Familiarize yourself with popular bookkeeping software that you’ll use day-to-day. Being proficient in these tools will increase your efficiency and accuracy—qualities clients highly value.

Once certified, don’t forget to prominently display your credentials on your website and marketing materials. This can significantly bolster potential clients’ trust in your abilities and help establish your reputation as a qualified bookkeeping professional.

Bookkeepers.com Online Courses

Learn what you need to start your very own virtual bookkeeping business.

An overview of the bookkeeping business so you can see if it is right for you.
The tools you need to “wow” clients and get paid for your services and
How to create a steady stream of new clients without the need to “sell” yourself.

Learn More

Legal Considerations and Compliance

Setting the legal foundation for your bookkeeping business is not just a formality—it’s about protecting your operations and establishing credibility.

Register Your Business and Secure the Necessary Permits

Let’s look at the essential steps to ensure your business is registered correctly and fully compliant with regulatory requirements.

Choose a Business Structure: Decide whether an LLC, sole proprietorship, partnership, or corporation best suits your needs.
Register Your Business Name: This is a crucial branding element. Check for name availability and register it with the appropriate state agency, ensuring it’s unique and resonates with your target market.
Obtain an EIN: If you’re in the U.S., you’ll need an Employer Identification Number (EIN) for tax purposes, especially if you plan to hire employees. This number is also often required to open a business bank account and apply for business licenses.
Apply for Licenses and Permits: Depending on your location and the structure of your business, you may need various licenses and permits. Check local and state regulations to ensure you meet all legal requirements.
Register for State Taxes: If applicable, register for your state’s tax structure. This may include sales tax, unemployment insurance tax, and other business-related taxes.
Comply with Local Regulations: Ensure you’re familiar with local zoning laws if operating from home, and obtain a Certificate of Occupancy if required. If you’re part of a homeowners’ association, review any stipulations they might have on home-based businesses.
Understand Ongoing Compliance: Be aware of annual filings, renewals for licenses and permits, and other regulatory commitments to maintain compliance.

By being diligent with these legal prerequisites, you’re not just following the rules—you’re also sending a clear message about your professionalism and attention to detail.

Protect Your Endeavors with the Right Insurance

Insurance is the safety net that can save your bookkeeping business from unexpected financial challenges. It’s not about expecting the worst; it’s about being prepared for any situation that could undermine the stability and reputation of your business.

General Liability Insurance: This covers a broad range of issues, including bodily injury or property damage claims made by others.
Cyber Liability Insurance: As a bookkeeper dealing with sensitive data, you’ll want protection against cyber threats and data breaches.
Property Insurance: If you have a physical office or own valuable equipment, property insurance can cover losses from events like fire or theft.

By integrating the right insurance policies into your business strategy, you set up a protective fortress around the hard work and dedication you put into your bookkeeping business. Insurance should not be perceived as an unnecessary expense but rather as a prudent investment in your business’s longevity and reputation.

Setting Up Shop

Establishing a Home Office vs. Renting Space

Choosing the right environment for your bookkeeping business is a balancing act between professionalism, cost-effectiveness, and personal working style. Whether you decide on a home office or opt for a rented space, the decision will significantly impact your operations.

Home Office Advantages	Renting Space Advantages
Cost Savings: Eliminate commuting costs and monthly rent, channeling those savings back into your business.	Professionalism: A commercial office can provide a more professional setting for client meetings and create a clear boundary between work and home life.
Convenience: Enjoy the flexibility of setting your own hours and working in a stress-free environment.	Networking Opportunities: Proximity to other businesses in shared office spaces can foster relationships and potential client referrals.
Tax Deductions: You may be eligible for home office tax deductions, saving you money during tax season.	Amenities: Rented spaces often come with value-added services like receptionists or conference rooms.

Home Office Disadvantages	Renting Space Disadvantages
Distractions: Domestic life can disrupt your work, impacting productivity.	Overhead Costs: Monthly rent and utility bills will add to your business expenses.
Professional Image: Having a dedicated business address and separate workspace can often project a more professional image to clients.	Long-term Commitments: Leases typically require a long-term commitment that may be risky if your business circumstances change.

Ultimately, the decision depends on the nature of your clientele, your personal work preferences, and your budget. Also, this is great for a stay at home mom to make money.

Many bookkeepers find success starting with a home office and transitioning to rented space as the business expands. Others may find that a small rented office fits their needs right from the onset, or that a virtual office setup provides the perfect middle ground.

Selecting State-of-the-Art Bookkeeping Software

With the right bookkeeping software, you can streamline your operations, foster transparency with clients, and confidently tackle complex financial scenarios.

Adopting top-notch software will serve as both a foundation and a catalyst for your bookkeeping business, ensuring you remain competitive and responsive in a rapidly evolving industry.

Look into popular bookkeeping software such as QuickBooks Online, Xero, FreshBooks, and MYOB. Compare them based on features, ease of use, scalability, and customer support.

By taking the time to carefully weigh these factors, you will be better positioned to select bookkeeping software that not only meets your current needs but also supports your business as it expands.

Financial Foundations for Your Firm

Unravel Funding Options and Small Business Loans

Before seeking funding, calculate your startup costs including equipment, software subscriptions, legal fees, marketing, and initial operating expenses. This will help you understand how much capital you need to secure.

Typically, you should be able to start your bookkeeping business with little investment and add additional expenses as you grow.

If needed, there are a variety of funding sources available for new businesses. Research options like traditional bank loans, credit unions, Small Business Administration (SBA) loans, online lenders, and crowdfunding. When applying for loans or pitching to investors, a comprehensive business plan is essential. It should outline your business concept, financial projections, and growth strategy to demonstrate the viability and potential profitability of your bookkeeping business.

Smart Money Management from the Start

Establishing smart money management practices from the very inception is the same as being financially sound with your personal finances.

Open a Dedicated Business Bank Account: Keep your personal and business finances separate. This is fundamental for accurate bookkeeping and simplifies your tax situation come year-end.
Start With a Budget: Even before your first client, create a realistic budget for your business. Know the costs of all aspects, including marketing, equipment, insurance, and any other operational expenses. This will help prevent overspending and ensure your resources are allocated effectively.
Use the Profit First Formula: This simple formula will help you to pay yourself as well as have enough money for operational expenses and to pay your self-employment taxes.

By establishing and maintaining these smart money management practices from the outset, you’re not just safeguarding your bookkeeping business against common financial pitfalls—you’re also building a foundation for a prosperous financial future.

Marketing Your Bookkeeper Business

Digital Presence: Creating a Website That Converts

In today’s digital-first world, your website often makes the first impression for your bookkeeping business. It’s not just an online brochure; it’s a crucial tool engineered to turn visitors into leads and leads into loyal clients.

User-Friendly Design: Your website should be easy to navigate with a clean layout that directs visitors naturally from one section to the next. Prioritize quick load times and mobile responsiveness with Kadence to cater to all potential clients.
Clear Value Proposition: Immediately communicate what you offer and why a potential client should choose your bookkeeping services. Highlight your unique selling points front and center on the homepage.
Strong Call-to-Actions (CTAs): Use compelling CTAs to guide visitors towards taking action, whether that’s contacting you, scheduling a consultation, or signing up for your newsletter. Make it easy for them to engage with you.
Client Testimonials and Case Studies: Social proof can be incredibly persuasive. Showcase positive reviews, client testimonials, and case studies to build trust and credibility with prospective clients.

With a well-crafted website, your bookkeeping business demonstrates its expertise and readiness to cater to client needs, no matter where they are in their financial journey.

Networking and Navigating Social Media Strategies

Building a robust network and mastering social media can turbocharge your bookkeeping business’s growth. It positions you not just as a service provider, but as a thought leader in your field.

Identify the Right Platforms: Choose one or two social media platforms where your target audience is most active. LinkedIn, for instance, is a goldmine for professional networking, while Instagram can showcase your brand’s personality.
Create Valuable Content: Share content that resonates with your audience — tips to manage business finances, tax updates, or insights into bookkeeping trends. This positions you as an expert and invites engagement.
Engage Actively: Don’t just post and disappear; interact with your followers. Answer questions, join discussions, and show appreciation for their engagement. Building relationships is key to networking success.
Leverage Professional Groups and Forums: Beyond your own social channels, be active in online groups or forums related to bookkeeping and your clients’ industries to expand your visibility and establish credibility.

Your network and social media are not just channels for promoting your services; they’re platforms for sharing your expertise, engaging with peers and potential clients, and building a community around your bookkeeping brand.

Bookkeeping Startup Pricing, Clients, and Growth

Determining Competitive Rates for Your Services

Setting competitive, yet fair pricing for your bookkeeping services is a balancing act that ensures value for your clients and viability for your business.

Let’s explore how to establish a rate structure that meets the market demands and supports your financial goals.

Market Research: Begin by understanding what other bookkeepers in your area or within your niche are charging. This insight will help you benchmark your rates competitively. Keep in mind factors like experience, specialization, and location.
Value Your Expertise: Assess your qualifications, experience, and the quality of services you offer. Clients are willing to pay for the value you bring to their business, so price your services accordingly.
Consider Your Costs: Ensure your rates cover your expenses, including software subscriptions, continuing education, insurance, and taxes, while also leaving room for profit.
Pricing Models: Decide whether you’ll charge hourly, offer flat-fee packages, or adopt a value-based pricing model. Each model has its advantages and can be chosen based on the type of service or client preferences.
Communicate Your Pricing Clearly: Be transparent with clients about your rates. Clear communication prevents misunderstandings and builds trust from the outset. [Placeholder for sample pricing page]

Within your pricing strategy, consider the lifetime value of client relationships and the potential for added services down the line.

How will you find clients for your bookkeeping business?

Finding clients is the engine that powers your bookkeeping business and your income. With a strategic combination of diligent networking, tactical marketing, and leveraging existing relationships, you can start building your client base.

Utilize Online Platforms: Websites like Upwork, Fiverr, and LinkedIn can connect you with businesses looking for bookkeeping services.
Local Business Outreach: Approach local businesses directly. Offer to discuss how your bookkeeping services can alleviate their financial stress and add value to their operations.
Referral Program: Encourage word-of-mouth by setting up a referral program. Incentivize your current clients or network to refer others to you.
Social Media and Content Marketing: Create and share engaging content on your social media profiles to build brand awareness.
Community Involvement: Join local business associations, attend chamber of commerce events, or contribute to community projects. These can lead to connections and opportunities.
Offer Free Workshops or Webinars: By providing value upfront through informative sessions on bookkeeping and financial management, you can attract potential clients who are interested in improving their business finances. Also, you can partner with other professionals.
Professional Partnerships: Build relationships with accountants, lawyers, and business consultants who might not offer bookkeeping services but can refer their clients to you.

With a consistent and strategic approach, you can attract and retain the clients that are the best fit for your business, ultimately building a robust client portfolio. Remember, it’s not just about finding any clients—it’s about finding the right clients who treasure you.

Discovering and Retaining Your Ideal Clientele

Attracting clients is one feat, but discovering and retaining those who are the perfect fit for your bookkeeping business is where the real growth happens.

Offer Customized Solutions: Set yourself apart by tailoring your services to meet the specific needs of your clients. Show that you understand their industry and are invested in their success.
Provide Exceptional Service: Consistently deliver high-quality work, be responsive, and proactively address your clients’ needs. Clients will stay with a bookkeeper who goes above and beyond.
Host Client Appreciation Events: Small gestures of appreciation or exclusive events can strengthen business relationships and foster client loyalty.
Stay on Top of Industry Trends: Being knowledgeable about your clients’ industries can make you indispensable. Offer insights that can help them stay ahead of the curve.

Stay Ahead in the Bookkeeping Scene

Continuous Learning and Leveraging Industry Trends

The bookkeeping industry doesn’t stand still, and neither should you. Continuous learning keeps you at the forefront of evolving practices, ensuring your services remain relevant and your advice sound.

Keep Abreast of Regulatory Changes: Tax laws, financial regulations, and compliance standards can affect your clients; stay updated through webinars, online courses, and industry news.
Embrace Technological Innovations: New software and tools can streamline bookkeeping tasks. Be open to adopting tech that can improve your efficiency and the services you provide.
Participate in Professional Development: Attend workshops, seminars, and conferences geared toward bookkeeping professionals. Networking with peers can also uncover new trends and techniques.

By maintaining a commitment to continuous learning, you not only improve your own skillset but also enhance the overall value of your bookkeeping services.

Join Professional Associations for Peer Support

Being part of a professional association offers more than just credentials; it’s a direct line to a community of peers who can share insights, resources, and support as you build and grow your bookkeeping business.

By joining professional associations such as the American Institute of Professional Bookkeepers (AIPB) or the National Association of Certified Public Bookkeepers (NACPB), you demonstrate a commitment to professionalism and continuous improvement. These affiliations provide a wealth of resources to support you in delivering high-quality services and growing a thriving bookkeeping business.

Plus you can take advantage of seminars, webinars, and certification courses offered by associations to further your education and maintain any required continuing education credits.

Bookkeepers.com Online Courses

Learn what you need to start your very own virtual bookkeeping business.

An overview of the bookkeeping business so you can see if it is right for you.
The tools you need to “wow” clients and get paid for your services and
How to create a steady stream of new clients without the need to “sell” yourself.

Frequently Asked Questions (FAQs)

Yes, a bookkeeping business can certainly be profitable. It offers a low overhead cost model, recurring revenue opportunities through ongoing client relationships, and the potential to scale services.

With diligent financial management and strategic growth, profitability can be substantial.

While a degree is beneficial for deep knowledge, it’s not mandatory. Certification and practical experience can often suffice in starting a successful bookkeeping business.

In fact, this is one of the best low stress jobs without a degree.

Begin by gaining an understanding of bookkeeping principles, getting certified, investing in software, and slowly building up your clientele with strategic marketing and networking.

Ready to Open Bookkeeping Business?

Starting your own bookkeeping business can be a fruitful endeavor with the right preparation and education.

This guide outlines the key steps and provides direction on how to start a bookkeeping business, ensuring you cover all essential elements for a successful launch. With focus and attention to these structured steps, you’ll be well on your way to establishing a thriving bookkeeping business.

Still on the fence? Check out this free bookkeeping webinar to learn more.

With the right preparation, tools, and mindset, you can launch a thriving venture that supports businesses in their financial journey while growing your own entrepreneurial dreams.

Embrace the adventure—your future in finance awaits!

Just remember if you are looking for ways to make money fast, this one comes with patience and perseverance to make things happen.

Earn Extra Income with Bookkeeping

Bookkeeping is the most stable, reliable & simple business to own. This is how to make a realistic income -either part-time or full-time.

Find out TODAY if this is THE business you’ve been looking for.

Did the post resonate with you?

More importantly, did I answer the questions you have about this topic? Let me know in the comments if I can help in some other way!

Your comments are not just welcomed; they’re an integral part of our community. Let’s continue the conversation and explore how these ideas align with your journey towards Money Bliss.

Source: moneybliss.org

Apache is functioning normally

February 13, 2024 by Brett Tams

A number of mortgage rates crept upward over the last seven days. The average 15-year fixed and 30-year fixed mortgage rates both inched upward. At the same time, average rates for 5/1 adjustable-rate mortgages remained unchanged.

30-year fixed mortgage: 7.10%
15-year fixed mortgage: 6.52%
5/1 adjustable-rate mortgage: 6.11%

High mortgage rates, expensive home prices and tight inventory kept homebuying out of reach for many last year. The current housing market won’t recover overnight, but the good news is that mortgage rates are projected to move lower in the coming months.

“Housing market activity has been so depressed that it wouldn’t take much for 2024 to be better than 2023,” says Matt Graham of Mortgage News Daily. “Whether that means a ‘return to balance’ really depends on how we define balance.”

Mortgage rates change every day. Experts recommend shopping around to make sure you’re getting the lowest rate. By entering your information below, you can get a custom quote from one of CNET’s partner lenders.

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.

Today’s mortgage rates

If you’re in the market for a home, check out how today’s mortgage rates compare to last week’s. We use rates collected by Bankrate to track daily mortgage rate trends. This table summarizes the average rates offered by lenders across the US:

Current average mortgage interest rates

Loan type	Interest rate	A week ago	Change
30-year fixed rate	7.10%	6.96%	+0.14
15-year fixed rate	6.52%	6.40%	+0.12
30-year jumbo mortgage rate	7.16%	7.00%	+0.16
30-year mortgage refinance rate	7.16%	7.08%	+0.08

Rates as of Feb. 8, 2024

Mortgage rate forecasts from experts

High inflation and the Federal Reserve’s aggressive interest rate hikes drove up mortgage rates over the last several years. With inflation now decelerating, the Fed is positioning itself to make its first interest rate cut, though that may still be several months away.

While mortgage forecasters base their projections on different data, most experts and market watchers predict rates will move toward 6% or lower by the end of 2024. Here’s a look at where some major housing authorities expect average mortgage rates to land.

What are mortgage rates impacted by?

While it’s important to monitor mortgage rates if you’re shopping for a home, remember that no one has a crystal ball. It’s impossible to time the mortgage market, and rates will always have some level of volatility because so many factors are at play.

“Mortgage rates tend to follow long-date Treasury yields, a function of current inflation and economic growth as well as expectations about future economic conditions,” says Orphe Divounguy, senior macroeconomist at Zillow Home Loans.

Here are the factors that influence the average rates on home loans.

Federal Reserve monetary policy: The nation’s central bank doesn’t set interest rates, but when it adjusts the federal funds rate, mortgages tend to go in the same direction.
Inflation: Mortgage rates tend to increase during high inflation. Lenders usually set higher interest rates on loans to compensate for the loss of purchasing power.
The bond market: Mortgage lenders often use long-term bond yields, like the 10-Year Treasury, as a benchmark to set interest rates on home loans. When yields rise, mortgage rates typically increase.
Geopolitical events: World events, such as elections, pandemics or economic crises, can also affect home loan rates, particularly when global financial markets face uncertainty.
Other economic factors: The bond market, employment data, investor confidence and housing market trends, such as supply and demand, can also affect the direction of mortgage rates.

This graph shows the fluctuation of mortgage rates from the start of the pandemic to the end of last year:

What to know before choosing a mortgage

When picking a mortgage, consider the loan term, or payment schedule. The most common mortgage terms are 15 and 30 years, although 10-, 20- and 40-year mortgages also exist. You’ll also need to choose between a fixed-rate mortgage, where the interest rate is set for the duration of the loan, and an adjustable-rate mortgage. With an adjustable-rate mortgage, the interest rate is only fixed for a certain amount of time (commonly five, seven or 10 years), after which the rate adjusts annually based on the market’s current interest rate. Fixed-rate mortgages offer more stability and are a better option if you plan to live in a home in the long term, but adjustable-rate mortgages may offer lower interest rates upfront.

30-year fixed-rate mortgages

The 30-year fixed-mortgage rate average is 7.10%, which is a growth of 14 basis points from seven days ago. (A basis point is equivalent to 0.01%.) A 30-year fixed mortgage is the most common loan term. It will often have a higher interest rate than a 15-year mortgage, but you’ll have a lower monthly payment.

15-year fixed-rate mortgages

The average rate for a 15-year, fixed mortgage is 6.52%, which is an increase of 12 basis points from seven days ago. Though you’ll have a bigger monthly payment than a 30-year fixed mortgage, a 15-year loan usually comes with a lower interest rate, allowing you to pay less interest in the long run and pay off your mortgage sooner.

5/1 adjustable-rate mortgages

A 5/1 ARM has an average rate of 6.11%, the same rate compared to last week. You’ll typically get a lower introductory interest rate with a 5/1 ARM in the first five years of the mortgage. But you could pay more after that period, depending on how the rate adjusts annually. If you plan to sell or refinance your house within five years, an ARM could be a good option.

Calculate your monthly mortgage payment

Getting a mortgage should always depend on your financial situation and long-term goals. The most important thing is to make a budget and try to stay within your means. CNET’s mortgage calculator below can help homebuyers prepare for monthly mortgage payments.

How to get the lowest mortgage rates

Though mortgage rates and home prices are high, the housing market won’t be unaffordable forever. It’s always a good time to save for a down payment and improve your credit score to help you secure a competitive mortgage rate when the time is right.

Save for a bigger down payment: Though a 20% down payment isn’t required, a larger upfront payment means taking out a smaller mortgage, which will help you save in interest.
Boost your credit score: You can qualify for a conventional mortgage with a 620 credit score, but a higher score of at least 740 will get you better rates.
Pay off debt: Experts recommend a debt-to-income ratio of 36% or less to help you qualify for the best rates. Not carrying other debt will put you in a better position to handle your monthly payments.
Research loans and assistance: Government-sponsored loans have more flexible borrowing requirements than conventional loans. Some government-sponsored or private programs can also help with your down payment and closing costs.
Shop around for lenders: Researching and comparing multiple loan offers from different lenders can help you secure the lowest mortgage rate for your situation.

Source: cnet.com

Best Summer Jobs for Teachers

1. Teach summer school

2. Sell educational printables

3. Flip used items for resale

4. Tutor

5. Camp counselor

6. Freelance bookkeeping gigs

7. Swim instructor

8. Tour guide for local attractions

9. Pet care jobs

10. Test prep instructor

11. Sell your lesson plans

12. Coach a school sport

13. Run a dog bakery

14. Sell handmade goods on Etsy

15. Work at a restaurant

16. Proofread

17. House sit

18. Blog

19. Freelance writing

20. Transcribe

21. Rent out an unused room in your home

22. Rent your garage space

23. Teach English as a second language

24. Answer online surveys

25. Mystery shop

26. Find gigs on Craigslist

27. Deliver groceries with Instacart

28. Real estate agent

29. Virtual assistant

30. Drive for Uber or Lyft

31. Library assistant

32. Driver’s ed teacher

33. Babysitting

Frequently Asked Questions

Do teachers still make money during the summer?

What is the best summer job for a teacher?

What jobs exist for substitute teachers looking for summer employment?

What are some summer jobs for teachers from home?

Best Summer Jobs for Teachers – Summary

Cheap Gender Reveal Ideas

1. Keep It Small

2. Choose a Cheap or Free Venue

3. Send Digital Invites

4. Make Your Own Decorations

5. Do a Potluck

6. Opt for These Ways to Do the Reveal

Setting Your Gender Reveal Party Budget

Budget Beforehand

Stick to Your Budget

The Takeaway

FAQ

What is a good budget for a gender reveal party?

Who usually throws a gender reveal party?

How much should a gender reveal cake cost?

Top 50 Money Mantras for Your Daily Routine

How to Integrate Your Money Mantra Chant Into Your Routine

How Mantras Can Shift Your Money Mindset

Integrating Mantras Into Your Financial Strategy

What is the best mantra for money?

FAQ About Money Mantras

What are your money mantras?

Did the post resonate with you?

Key takeaways

What is a 5/1 ARM?

How does a 5/1 ARM loan work?

Example of a 5/1 ARM loan

What index does the 5/1 ARM use?

Pros and cons of a 5/1 ARM

Pros of a 5/1 ARM

Cons of a 5/1 ARM

How 5/1 ARMS compare to other loans

When to consider a 5/1 ARM loan

5/1 ARM FAQ

What do I do if interest rates increase dramatically?

Are there specific eligibility requirements for 5/1 ARM loans?

How do I get the best 5/1 ARM initial rate?

Understanding Your Debt Settlement Options

DIY Settlement Strategies

Consulting with a Debt Settlement Attorney