Save more, spend smarter, and make your money go further
Just when you think you’ve got this whole credit thing down, some new credit-related phrase creeps into the industry’s vocabulary: DTI ratio, APR, amortization, and the list goes on . Let me introduce you to the world of mortgage credit reporting, which is very different than just “regular credit reporting.” There’s an entire world of intermediary credit reporting companies called Mortgage Reporting Companies that service the massive number of mortgage lenders and brokers. Follow me…
How Mortgage Lenders Gather Your Credit Data
When you apply for a credit card or an auto loan, the lender will buy one of your three credit reports directly from one of the three credit reporting repositories; Experian, Equifax or TransUnion. They’ll then use that information, and the score they bought at the same time, to make their approve/deny decision and set the terms of your new account. That process occurs tens of thousands of times every single day.
When you apply for a mortgage loan, the game changes. Mortgage lenders don’t typically buy one of your credit reports — they buy all three of them. And, if you’re applying jointly with a spouse or someone else, the lender will buy all three of their credit reports, too. So, that’s 6 credit reports and 6 FICO scores (FICO is still the score used in the mortgage industry) of which the lender or broker will take possession.
What is a Residential Mortgage Credit Report (RMCR)?
Now, that’s a lot of credit reports and a lot of pages. It’s also a ton of redundant information. Think about the joint credit card you have with your spouse. That likely shows up on all 6 of your collective credit reports. Does the mortgage lender really need to see the same account 6 times? Of course they don’t.
Because of the large amount of credit report data required by mortgage lenders, the need for an intermediary service exists. This service accesses all of the credit reports required by mortgage lenders from the big 3 credit bureaus and then consolidates them into one easier-to-read credit report. This credit report is called an “RMCR,” or Residential Mortgage Credit Report, and the companies that provide them are referred to as mortgage reporting companies.
These companies act as brokers or resellers of the data maintained by Experian, Equifax and TransUnion. The mortgage lender will subscribe to their services and commonly request a credit report on a mortgage applicant or applicants. The mortgage reporting company will then go to the big 3 credit bureaus on behalf of the mortgage lender and buy the applicant’s credit reports and FICO scores.
But before they deliver this large amount of information back to the mortgage lender, they’ll combine the information into one RMCR. The credit score information will be displayed in one section, the negative data will be displayed in another section, and things like inquiries and personal identification information will be displayed in their own sections. This merged credit report (often called a “Tri-merge”) is considerably easier to read than reading six separate credit reports is.
How Can I Get a Copy of My RMCR?
If you’ve applied for a mortgage-related loan, you probably have your RMCRs in your closing paperwork, as mortgage brokers and lenders will often give you a copy. It’s a very valuable aggregate of information because it’s a comprehensive study of all of your credit reports and it includes your actual FICO scores, along with the 4 reasons why each of them wasn’t higher.
John Ulzheimer is the President of Consumer Education at SmartCredit.com, the credit blogger for Mint.com, and a contributor for the National Foundation for Credit Counseling. He is an expert on credit reporting, credit scoring and identity theft. Formerly of FICO, Equifax and Credit.com, John is the only recognized credit expert who actually comes from the credit industry. The opinions expressed in his articles are his and not of Mint.com or Intuit. Follow John on Twitter.
Save more, spend smarter, and make your money go further
Previous Post
Saving for College While Paying for College: The Generational Double…
Next Post
MintFamily with Beth Kobliner: 6 Financial Lessons Kids Learn From…
Browse Related Articles
Credit Info
Why Mortgage Lenders Pull All Three of Your Credit Repo…
Credit Info
Credit Alphabet Soup: Popular Credit Reporting Acronyms…
Credit Info
Are Lenders Required to Report Negative Information to …
Credit Info
Enough About FICO: How About Four Credit Report Myths?
Housing Finances
What Credit Score is Needed for a Mortgage?
Credit Info
Can You Force Your Lender to Report Your Account to the…
Housing Finances
8 Refinance Tips That Will Save You Time and Money
Credit Info
Do You Understand Your Credit Reporting Rights?
Credit Info
Credit Predictions for 2011, Part 3: Credit Scores
Save more, spend smarter, and make your money go further
Whether you like flashy sports cars or practical minivans, shopping around for cars can feel like a fresh start. The problem is, most people can’t afford to pay out of pocket.
So how do you get a car loan to help turn your motorized dreams into reality? Like most big purchases, creating a thorough plan is a must. Understanding all your financing options, how a car loan will affect your credit, and how you can get the most bang for your buck will save you headaches—and debt—down the road.
Have a specific question in mind? Use the links below to get straight to the information you need:
What Are the Steps for Getting a Car Loan?
Throughout the financing process, remember that you’re shopping for two different products: the car and the car loan. Before setting foot on a dealership, take the time to weigh all your options so you feel 100% certain that investing in a new car is the best decision for your financial health as a whole.
Start with a Budget
If you don’t have a monthly budget, it’s time to create one. Assess all the monthly debt payments you currently have—such as rent, student loans, and credit card bills—and then figure out how much you’ll be able to afford on a monthly car payment.
Your car payment calculations should include not only the amount paid back to the lender, but also gas, insurance, and maintenance fees. If you come up with a number that won’t work with your income, consider saving for a larger down payment so you won’t have to take out a large car loan.
Check Your Credit Score
Request a copy of your free credit report to determine how your score will affect the loan shopping process. When doling out the best rates, lenders look for a score of 760 or higher and will give you a better deal the higher your score. Payment history, debt-to-income ratio, and the history of your credit lines all affect that magic three-digit number.
Start by fixing any inaccuracies you find on your report that could be dragging down your score. Within a month or two, you should see the mistakes removed which may make your number rise. If you aren’t in a rush to purchase the car, work on bringing your score up to help you get more favorable loans when it does come time to apply.
If you don’t have the time or ability to raise your credit score before purchasing the car, you could find a co-signer for the loan. Consider asking a parent, friend, or family member with a good score to co-sign. It’s important to remember that the co-signer is responsible for paying back the loan if you’re unable to make the monthly payments, and the credit score of both you and the co-signer will be affected by late or missed payments.
Explore All Your Loan Options
There are two main ways to get a car loan: direct lending and dealership financing. After picking out the car you want to buy, consider which option makes the most sense for you.
Direct Lending
Direct lending entails receiving a loan from a bank, credit union, or online lender. You’ll agree on the amount of the loan and the finance charge, or interest rate, that you’ll pay on the loan. Some things to note about receiving direct lending:
Banks often offer competitive interest rates but are more exclusive about who they offer a loan to. It is more likely you will need to have a good or excellent credit score to obtain a desirable loan from a bank. You don’t usually have to be a member at the bank to apply for an auto loan or get pre-approval.
Credit unions may have an easier loan application process and lower interest rates. However, you must be a member to apply for a loan.
Online lending websites often contact several lenders at the same time so you can easily obtain competing loan offers. Just like a bank or credit union, you will determine the terms of the loan with the lender. Make sure to always do background research on each lender you contact to ensure they aren’t predatory lenders.
Dealership Financing
Some dealerships offer on-site financing, which means you agree on the loan amount and interest rate with the dealer. Here are some things to keep in mind:
The dealer will gather all your information and send it to one or more prospective auto lenders, who will then give the dealer a “buy rate.” This could be higher than the interest rate you negotiate because it could include a compensation fee for the dealer handling your loan.
Because you are treating the dealership as a one-stop-shop for all your car needs, you might be offered special deals or rebates that include low interest rates.
Get Pre-Approval
Whichever financing option you decide to pursue, don’t just take the first loan offer that comes your way. Take the time to shop around and get competing rates through the pre-approval process. This entails asking multiple lenders to look at your credit report and draft up the loan amount and interest rate they’d be willing to offer you.
Pre-approval may give you more bargaining power with a dealership than if you went in without a financing plan. You also might be able to hunt down the best deals because lenders are competing for your business. Remember, just because you receive pre-approval from a lender doesn’t mean you have to take their offer.
An important element of loan shopping is keeping your pre-approval applications and final loan applications within a short window of time. Every time a lender looks at your credit report, it triggers a hard inquiry. If you build up too many hard inquiries, it could lower your credit score.
Fortunately, Turbo uses VantageScore, one of the common scoring models, which offers a 14-day grace period. If multiple hard inquiries are made during this time period for an auto loan, it will only be counted as a single inquiry—thus protecting your score.
Negotiate the Total Cost
Once you’ve found a lender that you want to finance your car loan, consider negotiating the final deal. This includes:
Length of the loan. Typically, a shorter loan will have higher monthly payments but lower interest rates. A longer loan will have smaller monthly payments and higher interest rates.
APR and interest rate. Depending on your pre-approval offers, you might be able to negotiate for a lower interest rate. This means you’ll pay the lender less to borrow the money over the length of the loan.
Additional add-ons. Extended warranties or additional insurance can raise the total cost of the loan.
Special offers or discounts. If you’re getting your loan through a dealership, use the negotiation process to ask about any manufacturer rebates that could get you a lower price on the car, therefore reducing the amount of money you need to borrow.
Close the Deal
Before driving off into the sunset, make sure to tie up any loose ends that could impact your car loan. Per the federal Truth in Lending Act, lenders are required to provide you with important information about your agreement so you can verify all the terms match what you discussed.
Sign all paperwork before taking your new car home, and make sure you have multiple ways to contact your lender if you ever have any questions. Whether you make online or by-mail monthly payments will be discussed during the negotiation process. It’s crucial that you pay these back on time every month to avoid severe late fees or repossession of your brand new set of wheels.
Will Trading In my Car Affect an Auto Loan?
If you plan to trade in your current car before purchasing a new one, it could lower the total cost of your car loan. The credit or cash you receive from the trade-in can be put to use as a down payment, thus reducing the amount you need to borrow from a lender.
Before trading in, make sure you know whether the total amount you still owe on your car is less than what it’s worth. Carrying an old auto loan onto a new auto loan may raise your interest rates and limit your options for the best deals. While trading-in can significantly help some buyers, it may not always be the best option if you want to get a favorable loan for your new vehicle.
Can I Get a Car Loan with Bad Credit?
Despite many lenders being wary of borrowers with poor credit scores, there are still options available to obtain a car loan. As mentioned earlier, paying off any existing debt, finding a co-signer, or saving for a larger down payment are all ways to help offset bad credit.
However, if the purchase can’t wait, lenders may still offer you a loan—but likely at a high price. Interest rates and additional fees skyrocket for borrowers with less-than-ideal credit scores, and it may dig you into a deeper hole of debt than you started with.
If you think you might be late on a payment, contact your lender immediately to discuss the possibility of adjusting your payment plan. While most of the original terms you negotiate will likely stay the same, you may be able to make a delayed payment. But if you consistently default on your payments, the lender is allowed to repossess your car, sell it, and use the money to pay off your remaining debt.
Despite its complexities, getting a car loan can be a straightforward process if you make a strategic plan. Assess your current financial health, loan shop, and negotiate a deal that suits your needs; in no time you’ll be able to hit the streets with a shiny new toy and feel confident in your abilities to manage debt.
Save more, spend smarter, and make your money go further
Previous Post
The Biggest and Best List Ever of Ways to Use…
Next Post
Why Did My Credit Score Drop?
Mint is passionate about helping you to achieve financial goals through education and with powerful tools, personalized insights, and much more. More from Mint
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.
Yep, you are reading this because you need an extra $300 ASAP.
In this post, you will learn the exact ways I have made 300 dollars fast or other methods that I truly know that work. Around here at Money Bliss, we research everything! That way we know you can put in the hustle and make it happen, too!
But with so many ways of making money on the internet these days, which one is best for your situation?
Hey, do you ever wonder how some people seem to make money the way they do?
It’s not by getting lucky–you’ve got to be smart about it.
I’ve looked at different options and ranked them from my favorite method all the way down to what I think is least desirable in terms of time investment and return.
Let’s get started…
How can I make $300 right now?
There are multiple ways to make $300 in a day.
You have to decide what works best for you! Preferably it would be a way that you naturally find enjoyment.
Even better, if you find a way to make 300 dollars fast that you can do repeatedly – that is called passive income.
What are ways to make money fast?
With so many ways to make money, sometimes figuring out what you should do can be a little overwhelming.
There are plenty of ways to make money fast.
You have to decide what you want to do.
35 Specific Ways on How to Make 300 Dollars Fast
Let us break it down for you with some of the most common and well-known methods of earning money.
For each way to earn 300 dollars in 24 hours, we will provide tips on how you could go about doing it.
1. Get a part-time job
One way is to get a part-time job.
You can look online or walk around any business for job postings.
Right now, there are SO MANY places that are DESPERATE for workers! You can easily find a part-time job making $15 an hour to $20 an hour.
2. Do a No-Spend Challenge – Budget to Find $300
A no-spend challenge is a great way to save money fast. I guarantee you can find $300 from your spending.
During a no-spend challenge, you commit to not spending any money on non-essential items for a set period of time. This can be anything from a week to a month.
There are a few different ways you can approach a no-spend challenge. One option is to cut out all non-essential spending for the duration of the challenge. This includes things like eating out, entertainment and shopping for new clothes. Another option is to allow yourself a set amount of money to spend each day during the challenge. This could be $10 per day or $50 per week.
No matter which approach you take, a no-spend challenge can help you save money fast. It’s also a great way to get creative and find new ways to have fun without spending money.
3. Open A New Bank Account & Get a Cash Bonus (Yes, get 300 dollars free)
A simple way to make money fast is by opening a new bank account. In fact, I just did this and received $300!
One way is to sign up for a new account and receive a sign-up bonus. Many banks offer these bonuses, which can range from $25 to $500, just for opening an account and meeting certain requirements. For example, you may need to deposit a certain amount of money within the first month or maintain a minimum balance.
Another way to make money fast with a new bank account is to take advantage of interest rates. Many banks offer higher interest rates for new customers, so you can earn more on your deposited funds.
Finally, some banks offer cashback or reward programs when you use your debit card or credit card for certain purchases. For example, you may get cash back when you use your debit card at grocery stores or gas stations.
4. Hop on TaskRabbit
TaskRabbit is a great way to make some quick money in one day. You can sign up to be a Tasker and choose from a variety of tasks that need to be completed in your area. Once you complete the task, you’ll get paid.
TaskRabbit is great for people who are looking for extra income and don’t mind doing odd jobs. Some of the tasks you can do on TaskRabbit include:
Cleaning
Yard work
Furniture assembly
Grocery shopping
To become a Tasker, you’ll need to create an account and fill out your profile. Once your profile is complete, you can start applying for tasks. Once you’re approved for a task, you’ll need to complete it and submit proof of completion in order to get paid.
5. Sell items you no longer need for quick cash
There are a few things you can do to make some quick cash if you find yourself in a bind and selling items that you no longer need ranks at the top.
This could include clothes, furniture, electronics, or anything else that you have around the house that you don’t need.
You can list these items for sale on websites like Craigslist, Nextdoor, or Facebook Marketplace.
6. Join an in-person or online focus group
Focus groups are a great way to make some extra money fast. You can join a face-to-face focus group or an online focus group. Online focus groups are usually conducted via Skype or a similar video conferencing platform.
In a focus group, you will be asked to provide your opinions on various topics, products, or services.
The company conducting the focus group will use your feedback to improve its offerings. Focus groups usually last for 1-2 hours, and you will be compensated for your time with cash or gift cards.
Typically, I have made $50-300 for each focus group I completed. The exact amount will depend on the company conducting the research and the topic of the focus group. Learn more.
7. Move to freelance work
The best way to make money fast is to find a need that you can fill and then fill it. For example, if you’re good at writing, you could start offering content writing services. If you’re good at design, you could start offering design services. There are always businesses and individuals who need help with things like this, so if you can provide it, you’ll be able to make money quick.
There are a few different ways to offer freelance services. You can offer your services through a freelancing platform like Fiverr, or you can reach out to businesses directly and offer your services. You can also set up a website and promote your services through that.
Of course, the amount of money you can make will vary depending on the quality of your work and the size of the projects you’re working on. But if you’re able to deliver high-quality work quickly, you should be able to make decent money doing freelance work.
Also, this is a great way to start building consistent income from work from home jobs without investment.
8. Advertise On Your Car As Easy Ways to Make Money
There are a few companies that will pay you to advertise on your car. You can usually sign up for a short-term contract and get paid per month, or sometimes per week or day.
This can be a great way to make some quick cash if you have a car that you don’t mind driving around with ads on it.
Here are a few companies that offer this service:
To sign up, you’ll need to provide some basic information about yourself and your car, and then you’ll be able to browse the available campaigns and choose the ones you want to participate in. Once you’ve been approved for a campaign, the company will send you the materials you need to apply the wrap to your car, and then you’ll be on your way!
Double bonus if you do this while driving for Uber or Lyft!
9. Become A Virtual Assistant:
There are many ways to make money fast, but becoming a virtual assistant is one of the most viable options.
Virtual assistants provide administrative, secretarial, and clerical support to clients from a home office. They can perform tasks such as scheduling appointments, handling customer inquiries, managing social media accounts, and more.
To be a successful virtual assistant, you will need to have strong organizational and time management skills. You will also need to be comfortable using computers and various software programs. Additionally, it is important to be able to communicate effectively with clients via email and phone.
If you have the necessary skills and qualifications, becoming a virtual assistant can be a great way to earn money fast. Check out this free virtual assistant training!
10. Clean Houses
Cleaning houses is a profitable business and most people charge from $35 dollars to $45 an hour, so you can quickly make $300 by cleaning houses. You could start by advertising your services on platforms like Craigslist orNextdoor.
Once you get a few clients, you could start a Facebook group or Instagram account to showcase your work and attract more customers.
You could also look into joining a local house cleaning company as an independent contractor. This would give you the benefit of having a regular income, while still being able to set your own hours and work as much or as little as you want.
10. Give Blood OR Sell Plasma:
There are a few ways to make money fast, and giving blood or plasma is one of them – especially if you live in a college town.
You can usually make around $50-75 for giving blood or plasma. Also, many centers offer first time donors a big bonus!
The process takes around an hour, and you can usually donate once a week.
11. Do Grocery Shopping With Instacart:
Instacart allows people to shop for groceries and other items from the comfort of their own homes. As a shopper, you would be able to set your own hours and work as much or as little as you want.
For someone who loves shopping, this is perfect because you are not spending your own money!
You would also be able to earn tips from satisfied customers. If you are looking for a flexible way to make money, then becoming a shopper with Instacart could be a good option for you.
12. Test Websites for UI/UX
Testing websites for UI/UX is a great way to make money fast. Here are a few things to keep in mind when testing websites:
Make sure the website is easy to navigate
Check for broken links
Test the forms and checkout process
Provide feedback on the overall design and user experience
Companies want their online experience to be great, so this is a top gig.
13. Tutor Online
There are a few different ways you can tutor online, and each has its own benefits. You can use a platform like Chegg or Wyzant to connect with students who need help in your area of expertise. If you’re more of a self-starter, you can also look for online tutoring gigs on Upwork or Fiverr.
Benefits of tutoring online include:
You can work from anywhere with an internet connection
You can set your own hours
Tutoring is a great way to make $30 an hour
If you’re looking for ways to make money fast, tutoring online is a great option. You can work from anywhere in the world, and set your own hours so that you can fit tutoring into your busy schedule. Plus, tutoring is a great way to make extra money.
14. Writing Skill? Become a Freelance Writer
Also, making money is becoming a freelance writer. There are many websites and online publications that are always looking for new content, and a freelance writer can easily provide this. In addition, a freelance writer can often command a higher rate than other types of writers because of the specialized nature of their work.
Another way to make money fast as a freelance writer is to offer services such as ghostwriting or editing. This can be especially helpful for businesses or individuals who need assistance with their writing but do not have the time or resources to do it themselves. By offering these services, you can still earn a decent living while helping others improve their own writing skills.
Check out this course on how to Earn Money while Writing.
15. Manage Social Media Accounts to Make $300 a Day
There are a few different ways you can make money by managing social media accounts. You can offer your services to businesses or individuals who need help with their social media presence. Here are a few ideas:
Offer to help businesses with their social media strategy. This can include creating and scheduling posts, engaging with followers, and monitoring analytics.
Offer to manage an individual’s personal social media accounts. This can include anything from posting updates to responding to comments and messages.
Start your own social media management company. This will require more work upfront, but you can potentially earn a lot more money in the long run.
If you’re looking to make some quick cash, managing social media accounts is a great option. With a little effort, you can easily make $300 or more per day!
16. Become An Uber Or Lyft Driver:
If you’re looking to make some quick cash, becoming an Uber or Lyft driver might be a good option. This past weekend, we met a driver who would not tell me the exact amount he makes, but it was hovering six figures.
You can work on your own schedule and earn money by picking up passengers and taking them to their destination. Plus, you can get paid even more if you’re willing to pick up additional passengers or drive during peak hours.
Key Tip… Learn the routes and areas in which you are more likely to make more money. This may mean driving outside your hometown.
17. Ask for Extra Hours
A simple way to make $300 fast is to ask for extra hours at work. If you’re able to put in the extra work, you’ll likely see a boost in your paycheck.
This can be a great way to make some quick cash if you’re in need.
Many employers will be happy to pay overtime hours or just under the requirements of a full-time position.
18. Rent Your Car
Have you ever thought about renting your car out?
You can do this by signing up with a car rental service like Turo or Getaround. Once you’re approved, you can start renting out your car for quick cash.
Typically, you can earn around $30/hour for each rental, and you can get paid weekly. This is a great way to make some extra money if you have a car that you don’t use often.
19. Rent out a spare room in your house
Renting out a room in your house is a great way to make money fast.
You can charge daily, weekly, or monthly rates, and you’ll get the money right away.
This is a great option if you have an extra room in your house that you’re not using. Just make sure to list the room on a site like Airbnb so people can find it.
20. Open a Shopify Store and Sell
Opening a Shopify store is one of the quickest and easiest ways to start making money online. Shopify is an eCommerce platform that allows you to create an online store in minutes, without any prior experience or technical knowledge.
There are a few things to keep in mind when opening a Shopify store:
Choose a niche: When choosing what products to sell, it’s important to pick a niche that you’re passionate about. This will make it easier to market your store and stand out from the competition.
Research your products: Once you’ve chosen a niche, it’s important to do your research and make sure you’re offering quality products that your customers will love.
Set up your store: The next step is to set up your Shopify store. This process is relatively simple and can be done in just a few minutes.
Start promoting your store: Once your store is up and running, you’ll need to start promoting it through social media, blogging, and other marketing channels.
Once your store is up and running, you can start selling products and making money right away.
21. Events Assistant
Thankfully, large events are making a comeback, and thus it is now one way to make money fast is to work as an events assistant.
Events assistants help with the planning and execution of events, such as weddings, corporate functions, and parties. They may be responsible for tasks such as booking venues, arranging transportation, and decorating the event space.
Working as an events assistant can be a great way to earn quick cash, as many events take place on weekends or evenings. You may earn tips in cash, too.
22. Apply For A New Credit Card & Get a Signup Bonus
Applying for a new credit card is one of the easiest ways to make money fast if you have a good credit score.
You can often get a sign-up bonus just for applying, and if you use the right card, you can earn cash back or points that can be redeemed for free travel.
Just make sure to pay off your balance in full each month so you don’t get hit with interest charges.
23. Get Paid To Walk
There are a few ways to make money by walking, including becoming a pet-sitter or dog-walker, delivering food or packages, and even participating in research studies.
Pet-sitting and dog-walking are great ways to get some exercise while making some extra cash. You can advertise your services on websites like Rover or Care.com, or even on local community Facebook groups. Once you build up a clientele, you can set your own schedule and rates.
If you don’t mind doing a little bit of extra work, you could also sign up to deliver food or packages for companies like DoorDash, Postmates, or Amazon Flex. You can typically set your own schedule and rates for these gigs.
24. Wait tables
Working as a waiter or waitress can be a great way to make some extra money fast. In fact, it is easy to net over $300 if you are personable and do your job well!
In most cases, you will be able to keep all of the tips that you earn, which can add up to a significant amount of money over time.
Additionally, many restaurants offer their employees discounts on meals, which can further increase your earnings. If you are looking for a way to make some quick cash, waiting tables may be the perfect solution for you as you can start within days.
25. Provide Yard Work Help
Another way to make money fast is by providing yard work services. This could involve mowing lawns, shoveling snow, trimming hedges, or any other type of outdoor work.
You can use online platforms such as TaskRabbit, Nextdoor or Craigslist to find clients, or you can reach out to local businesses or individuals who need help with their yards.
From personal experience, my kids have averaged over $300 a day – just for snow shoveling! Good hustle for those preteens!
This is yet another way to make some quick cash by doing odd jobs for people in your community.
26. Read Books and be Paid as a Reader
There are a few ways to make money by reading books. You can start a book blog and get paid to review books, you can work as a freelance book editor, or you can even get paid to read books!
If you want to start a book blog, you first need to find a niche. What kind of books do you want to review? Once you’ve found your niche, the next step is writing reviews. You can use sites like Amazon and Goodreads to find books to review, and then post your reviews on your blog.
If you’re interested in working as a freelance book editor, there are a few things you need to know. First, you need to have experience editing books. Second, you need to be able to showcase your work. And third, you need to be able to market yourself so that potential clients can find you.
One way that you can make money by reading books is by becoming a beta reader. Beta readers are people who read manuscripts before they’re published and provide feedback on the story and the writing. If you’re interested in becoming a beta reader, the best way to find work is by networking with authors and editors who might need your services.
27. Sell a Skill on Fiverr
There are many ways to make money fast, but one way you can monetize a skill you have is to sell it on Fiverr.
Fiverr is a marketplace where people can buy and sell services starting at $5.
If you have a particular skill or talent, you can create a gig offering that service. Once your gig is created, buyers can purchase your service and leave a review.
If you deliver quality work, you will get repeat customers and your gigs will start to rank higher in the search results. This will help you make more money faster.
28. Profit from Baked Goods & Get Rewarded
Cake pops are hot! As most professional bakeries, charge between $1-4 per cake pop, you would need to sell 75 cake pops to make your goal of $300 a day.
Same with sourdough bread! people are selling homemade sourdough bread for $5-8 per loaf. So, you need to sell around 40 loaves to hit 300 dollars fast.
Another option is to offer baking classes in your community to make extra money. This is a hot thing to do for couples and kids.
There are many delicious ways to make money fast from baking.
29. Flip Stuff Online and Be a Reseller
One way to make money fast is to resell items on eBay, Facebook Marketplace, or Craigslist.
You can find items to resell at garage sales, thrift stores, and even online. Once you have found an item to resell, list it on eBay and set a starting price. Be sure to research the item so you know how much it is worth and what similar items have sold for in the past. You can also offer to ship if you are selling a larger item.
Check out this free training from Flea Market Flipper!
30. Negotiate a Pay Rise
There are a few key things you can do to increase your chances of successfully negotiating a pay rise:
Do your research: find out what the average salary is for your role in your area, and what other people in similar roles at other companies are being paid. This will give you a good starting point for negotiations.
Build a case: put together a document or presentation detailing your successes and value to the company. This will help you make your case in a clear and concise way.
Be prepared to walk away: if the company isn’t willing to meet your demands, be prepared to walk away. This may mean looking for another job, but it’s important to stand up for yourself and not accept less than you’re worth.
This is a great way to increase your paycheck!
31. Do odd jobs for people
One way to make some quick cash is to do odd jobs for people in your neighborhood.
This could be anything from mowing lawns and shoveling snow to painting fences and washing cars. If you have a knack for handyman work, you can list your services on websites like TaskRabbit or Craigslist.
You can also sign up with a local home improvement store, such as Home Depot or Lowe’s, to find customers who need help with small projects around the house.
You can house sit for people in your community who are going out of town and need someone to watch their home while they’re gone. Check out a great place with Trusted Housesitters.
32. Start Copywriting
Copywriting is a skill that can help you make money fast. If you can write persuasively, you can earn quick cash by writing articles, sales letters, and web copy.
Here’s how to get started:
Find a need. Look for businesses that are in need of content and start pitching them your services.
Write a great proposal. Your proposal is your chance to sell your services, so make sure it’s well-written and persuasive.
Get paid! Once you’ve landed a client, get to work and start earning money fast!
Check out where to find copywriting jobs.
33. Play with Dogs with Pet-sitting Services
If you love animals, you can offer pet-sitting services to earn some extra cash.
Pet owners often need someone to watch their pets while they’re away on vacation or business trips. If you love animals, this can be a great way to earn some extra cash.
You can also dog walk or pet sit for neighbors or friends.
34. Invest in Stocks or Cryptocurrency.
If you’re willing to take on some risk, you could make money by investing in stocks or cryptocurrency. However, these investments can also lose money, so be sure to research before investing.
This is one way I consistently make an extra 300 dollars a day.
However, this is after I took an investing course and months of practice. If you are analytical and enjoy patterns, this could be for you.
35. Complete online survey and earn extra cash
This is probably my least favorite, but you can make cash fast for very simple work. The amount of money you can make depends on the amount of time you’re willing to spend, and some other factors like your demographics.
Join a paid survey panel.
These panels usually work with marketing research companies who pay panelists for their participation in online and offline surveys. To join a paid survey panel, you’ll typically have to fill out a short sign-up form and provide some basic information about yourself. Once you’re signed up, you’ll start receiving survey invitations by email.
Here are the top legit survey platforms:
How much money can you make with each method?
The goal is to make 300 dollars fast, right?
It depends on the way you want to make money and the effort you put into it.
Some like virtual assistants or active trading will take longer to build up and get your experience, but it will be more lucrative as you go. On the flip side, pet sitting or house sitting is quicker to start but could be less consistent with clientele.
What are the pros and cons of each method to make money today?
There are a few different ways to make extra money, and each has its own pros and cons. For example, you could get a part-time job, start a side hustle, or take on some freelance work.
Idea #1 – Another job or More Hours
Getting a part-time job is one of the most common ways to make extra cash. The main pro of this method is that it’s relatively easy to find a part-time gig these days. You can use sites like Indeed or Craigslist to find open positions near you.
The main con of this method is that it can take up a lot of your time, which might not be ideal if you’re already working full-time or taking care of other obligations.
Idea #2 – Start a Side Hustle
Starting a side hustle is another popular option for making extra money. The biggest pro of this method is that you can often make more money with a side hustle than you would with a part-time job.
The biggest con of this method is that it takes time and effort to get your side hustle off the ground.
Idea #3 – Freelance Work Online
Taking on some freelance work is another option for making extra cash. The main pro of this method is that you can often set your own hours and rates.
The main con of this method is that it can be tough to find consistent work.
Best Way to Earn Money Fast
Ultimately, the best way to make extra money is the method that works best for you and your situation.
If you need to make some quick cash, a part-time job might be the way to go. If you’re looking to consistently make a bit more money, starting a side hustle is best.
Top ways to make money fast online
There are many different ways you can make money online.
Some of the most common include affiliate marketing, selling your own products or services on social media platforms like Instagram and Facebook, using your blog as a source of passive income, and creating e-commerce stores.
In fact, learning how to make money online for beginners is a hot topic!
Which methods are best for making long-term income?
There are a variety of methods you can use to make 300 dollars fast. While some methods may only provide you with temporary or one-time earnings, others have the potential to provide you with more long-term income.
Some of the best methods for making long-term income include:
Finding a high-paying job: If you’re looking for more sustainable earnings, then finding a job that pays well is one of the best options. While it may take some time to land a high-paying position, once you do, you’ll be able to earn a steady income that can last for years.
Starting your own business: Another great option for earning long-term income is starting your own business. This can be a great way to earn a passive income, as well as give you the flexibility to work on your own schedule.
Investing in real estate or stock market: Another option for those looking to make long-term earnings is investing in real estate or the stock market. This can be a great way to earn passive income and build up wealth over time.
What are some tips for making money fast?
These are just a few ideas to get you started.
Remember, the key is to be creative and think outside the box. There are many opportunities out there for those who are willing to look for them. With a little effort, you can find a way to make money fast.
Do you need to know how to make 2000 fast?
Tips to Earn Real Money and Make Extra Money Fast
How can you make sure you make the most money possible?
There are a few key things to keep in mind if you want to make the most money possible:
1. Be Clear On Your Expectations
If you want to make extra money, you need to be clear on what you want. Specifically how you are looking to make and how many hours you are going to commit.
Also, you need to communicate this to others around you like friends, family, or kids.
2. Set Prices People Make in Reality
Making sure that you have a clear understanding of the services you’re offering and what the going rate is for those services is crucial.
If you don’t know how much your time and effort are worth, it’s easy to undervalue yourself and end up making less money than you could have. Likewise, if you overprice yourself, people are less likely to use your services.
3. Negotiate a Ton
Don’t be afraid to negotiate. If you feel like you’re worth more than what the other person is offering, try to negotiate for a higher price.
Don’t be afraid to negotiate when it comes to prices. If you feel like your time is worth more than what the other person is offering, try negotiating for a higher price. It never hurts to ask, and often times people are willing to pay more than they initially offered if it means getting better quality work.
4. Work Hard and Make Real Cash – Not Free Cash
Be willing to work hard. The more effort you put in, the more money you’re likely to make.
If you’re not willing to put in the extra effort, you’re not going to make as much money as you could have.
Free cash won’t just happen; that isn’t someone you strive to be. Work hard and be paid.
Start Earning 300 dollars and Make Money Quickly
There are a lot of ways to make 300 dollars fast.
You just have to be creative and resourceful.
With this guide, you now know 35 ways to make 300 dollars fast. You can start earning extra cash today by following these methods.
You can start by looking for ways to make money in your free time, at home, or online. With a little effort, you can make 300 dollars in no time. Then, on to make 500 dollars fast.
Remember to have fun while you’re earning money! Thanks for reading and good luck!
Then, your next goal will be how to turn 10k into 100k.
Know someone else that needs this, too? Then, please share!!
A red brick home with a “For Sale” sign in the front yard.
The minimum credit score needed to buy a house can range from 500 to 700, but will ultimately depend on the type of mortgage loan you’re applying for and your lender. While it’s possible to get a mortgage with bad credit, you typically need good or exceptional credit to qualify for the best terms.
To help consumers better understand how credit scores affect homebuying, Experian compiled information on what credit score you’ll need to buy a house and how to improve your credit leading up to a mortgage application.
What credit score do I need to get a mortgage?
Several types of mortgage loans exist, and each one has its own minimum credit score requirement. Lenders may also have additional, stricter criteria they use to determine your creditworthiness other than your credit score (more on this below).
Here’s what to expect based on the type of loan you’re applying for:
Conventional loans minimum credit score: 620
Conventional loans typically require a minimum credit score of 620, though some may require a score of 660 or higher. These loans aren’t insured by a government agency and conform to certain standards set by the government-sponsored entities Fannie Mae and Freddie Mac. They’re by far the most commonly used mortgage loans.
Jumbo loans minimum credit score: 700
A type of nonconforming mortgage loan, jumbo loans may require a credit score of 700 or higher. These loans carry higher loan amounts than conventional loans.
FHA loans minimum credit score: 500
Insured by the Federal Housing Administration, FHA loans have a minimum credit score of 500 if you make a 10% down payment or 580 if you put down 3.5%.
VA loans minimum credit score: 620
There’s no minimum credit score set by the U.S. Department of Veterans Affairs, but lenders typically require a score of 620 or higher for VA loans. These loans were created for select members of the military community, their spouses and other eligible beneficiaries.
USDA loans minimum credit score: 580
Insured by the U.S. Department of Agriculture, USDA loans don’t have a minimum credit score set by the federal agency, but lenders typically require a score of at least 580. These loans are meant for low- and moderate-income homebuyers looking to purchase a home in rural areas.
If your credit score is in great shape, you may have several loan types from which to choose. But if your credit score is considered bad or fair, your options may be limited.
Experian
How your credit score affects mortgage rates
A data table showing the affect credit scores have on mortgage rates. The APR, monthly payment, and total interest paid are shown for a range of FICO credit scores, from 620 to 850.
Although homeowners with better credit scores have larger average mortgage balances, they tend to receive more favorable borrowing rates from lenders, resulting in lower interest payments over the life of the mortgage.
Your credit score plays a role in determining the interest rate and payment terms on a mortgage loan. That’s because lenders use what’s called a risk-based pricing model to determine loan terms.
The more likely you are to pay your bills on time, based on your credit history, the lower your interest rate may be. With a less-than-stellar credit score, however, you may end up paying more.
Credit score example
Let’s say you’re hoping to get a 30-year fixed-rate mortgage loan for the average mortgage balance of $236,443. If you have good credit (say, a 700 credit score) and qualify for a 6.371% interest rate, your monthly payment would be $1,474 (excluding property taxes, homeowners insurance and private mortgage insurance), and you’d pay a total of $294,369 in interest over the life of the loan.
But if your credit needs some work and you qualify for a 7.738% interest rate instead, that increases your monthly payment to $1,692 and your total interest burden to $372,658—a difference of $78,289.
Other factors lenders consider
Mortgage lenders don’t just look at your credit score when determining your rate, though. They’ll also consider your debt-to-income ratio (DTI)—how much of your gross monthly income goes toward debt payments—as well as your down payment and available savings and investments.
So while it’s important to work on your credit score before you apply for a mortgage, avoid neglecting these other important areas of your financial situation.
Images Products // Shutterstock
Can you get a mortgage with a bad credit score?
A millennial man searching information online, working with computer laptop.
It’s possible to get approved for a mortgage with poor credit. But just because you can, it doesn’t necessarily mean you should. As previously discussed, even a small increase in your interest rate can cost you tens of thousands of dollars over the length of a mortgage loan.
If you’re planning on buying a home and you have bad credit, here are a few tips that can help you potentially score a decent interest rate:
Think about applying for an FHA loan.
Make a large down payment to reduce the risk to the lender.
Get preapproved with multiple lenders.
Consider working with a mortgage broker who may be able to match you with a specialized loan program.
Pay down large credit card balances to reduce your credit utilization rate.
Work on paying down other debts to reduce your DTI.
Consider asking someone with good or exceptional credit to apply with you as a cosigner.
There’s no guarantee that these actions will help you qualify for a mortgage loan with good terms, but they can improve your odds.
Experian
How to prepare your credit for a mortgage
A data table showing the average mortgage by FICO score range, which goes from 350 to 850. The average mortgage balance ranges from $159,002 and $260,041.
If you’re thinking about buying a home soon, it may be worth spending some time getting your credit ready before you officially begin the process. Here are actions you can start taking now, some of which can improve your credit score relatively quickly.
1. Check your credit score and reports
Knowing where you stand is the first step to preparing your credit for a mortgage loan. You can check your credit score with the three national credit reporting agencies, and if it’s already in the 700s or higher, you may not need to make many changes before you apply for a preapproval.
But if your credit score is low enough that you risk getting approved with unfavorable terms or denied altogether, you’ll be better off waiting until you can make some improvements.
You can get a free copy of your credit report from each of the three national credit reporting agencies weekly at AnnualCreditReport.com through December 2023, then every 12 months after that.
Once you have your reports, read through them and watch for items you don’t recognize or you believe to be inaccurate. If you find any inaccuracies, you can ask your lender to update their information with the credit reporting agencies. You also have the right to dispute the items directly with the agencies. This process can improve your score quickly if it results in a negative item being removed.
2. Pay down debt
Paying off other debts can not only lower your debt-to-income ratio but also help improve your credit score. That’s especially the case if you have credit card debt.
Your credit utilization rate—how much credit card debt you have in relation to your total available credit—is an important factor in your credit score. While many credit experts recommend having a credit utilization of 30% or less, there is no hard-and-fast rule—the lower, the better.
Because your credit utilization rate is calculated each month when your credit card balances get reported to the credit bureaus, your credit score could respond quickly if you pay down high credit card balances.
3. Avoid applying for new credit
Virtually every time you apply for credit, the lender runs a hard inquiry on your credit report. In most cases, you’ll see your credit score drop by fewer than five points with one inquiry, if at all.
But if you have multiple inquiries in a short period, it could have a compounding effect and lower your credit score even more. (One exception is when you apply for several of the same type of loans, such as a mortgage or car loan, as a way to compare offers. If you do so in a short time period, all the inquiries will be grouped into one, limiting the impact on your credit score.)
Also keep in mind that adding new credit can increase your DTI, which is a crucial factor for mortgage lenders.
4. Consider waiting
If your credit report includes some significant negative items, such as a bankruptcy, collection account or repossession, it may take more time for your credit score to recover than from high credit card balances or one late payment. In this case, it may be a good idea to wait until you can build a more positive credit history before applying for a large loan.
Waiting could also be worthwhile when the housing market is hot, or if interest rates are on the rise. Depending on how much flexibility you have, you may benefit from waiting until the market cools off, giving buyers more leverage than sellers, or until interest rates start to decline again.
Think about more than just the loan terms
A mortgage is a long-term financial commitment. But getting into a home with less-than-perfect terms now can still make sense in certain situations.
If you live in an area where a mortgage payment would be cheaper than what you pay in rent, for example, even a loan with a slightly higher interest rate could save you money in the short term. And if owning your own home improves your overall quality of life, that could be worth paying a little more.
This story was produced by Experian and reviewed and distributed by Stacker Media.
Save more, spend smarter, and make your money go further
Last year this time– right around Halloween – my wallet was stolen from my son’s stroller. (Okay I shouldn’t have placed it in the stroller in the first place, but I never imagined anyone would steal it. It was only slightly visible, tucked inside a pouch.)
You can guess the rest.
In a store elevator, while a woman to my right started talking me up and gushing over my then 1 year old son’s shoes (they were really cute), her quiet accomplice (to my left) crept her fingers into my stroller pouch and nabbed the wallet.
An hour later, when I realized the wallet had disappeared, I rushed home to check my bank and credit card accounts. As expected, the thieves had spared no time. They’d racked up over $500 in charges at the very department store where they’d stolen my wallet. They also purchased a number of monthly subway passes on their way out of the crime scene.
Some serious professionals had defrauded me right in my own neighborhood!
Lesson learned: Keep your wallet out of sight and reach.
But, sadly, wallet theft is not the only way or even the most common way fraudsters can get a hold of our financial accounts. Much of it happens online via hacks or breaches. Fraud devices or “skimmers” at ATM machines and card readers can also be sources of fraud.
This Halloween here’s some advice on how to prevent your financial info from getting in the wrong hands and what to do in case you become a victim of fraud.
Double Down on Password Protection
A wise rule of thumb is to use various passwords for various accounts. Don’t just use one universal password for every website since it makes it all too easy for a fraudster to access your bank accounts, payment sites, etc. if he or she gets ahold of your secret alpha-numeric-symbolic code.
But few of us actually follow that rule of thumb. Nearly three out of four consumers use a duplicate password, many of which haven’t been changed in the last five years, according to a recent survey.
If you’re worried about remembering all your passwords, consider using password management tools that provide a secure and virtual “vault” for all your passwords. LastPass and TrueKey offer free basic memberships.
As for how often should you change your passwords? Do better than every five years, but don’t worry about changing them every month. A study by the University of North Carolina at Chapel Hill found it’s better to change passwords infrequently.
While some sites and offices require you to change your password every few months, this can actually backfire, the study found, because when we are forced to change our passwords so many times we don’t get very creative. We may add a “1” or make a slight variation from the last password. And this makes our passwords all the more predictable to hackers.
In fact, for 17% of the accounts in the study, knowing a user’s previous password let researchers to correctly guess their next password in fewer than 5 guesses.
It’s fine to change your password once or twice a year, as long as it is made of a random variation of text including different cases of letters, numbers and symbols. And stay away from the obvious like your birthdate or a sequence of letters and numbers (e.g. ABC123)
Stick With Credit
You may notice when you go to checkout with a card, you’re now asked to dip instead of swipe. The U.S. recently moved to EMV chip card technology, in an effort to combat counterfeit card fraud. In time paying with a credit card should get safer.
Meantime, if you’re ever wondering whether it’s safer to use a debit or credit card, stick with credit. In the event of fraud, it will be easier to dispute the claims.
According to the Fair Credit Billing Act your maximum liability for fraudulent credit card transactions is $50. But if you report your card lost or stolen prior to fraudulent transactions your liability could even be $0.
With debit card fraud, on the other hand, you’re sometimes at a loss until the claim is resolved. What’s more, if you don’t report your card lost or stolen within sixty days your liability limit is up to $500.
Scan Your Statements
Keep a watchful eye on your accounts. Even if you’re a fan of auto-pay, it’s worth reviewing your bills regularly for unfamiliar charges. Card issuers and banks are getting better at alerting us of suspicious charges, but it’s always helpful to play an active role ourselves, too.
If you suspect your account’s been compromised contact your bank or card company immediately and have them investigate. In the meantime, they may shut off the account and send you a new card with a new account number just to be on the safe side.
Another place to look for red flags is your credit report. You can receive a free credit report from each of the three major credit-reporting agencies – Equifax, Experian and TransUnion – once a year at annualcreditreport.com. If you don’t recognize some of the items on your credit report such as random credit inquiries or unfamiliar card accounts immediately reach out to the credit reporting agency or agencies that’s listing the false information and explain the situation. Here’s a list of their phone numbers:
Experian: 1-888-EXPERIAN or 1-888-397-3742
Equifax: 1-800-525-6285
TransUnion: 1-800-680-7289
You may want to place an extended fraud alert or credit freeze on your account. You can find more information on how to do this on the Federal Trade Commission’s website.
Avoid Random ATM Machines
Fraudsters and ID thieves may secretly install special equipment in credit card readers either at the ATM, gas pump machine or any other card swiping device to capture or “skim” our personal information on our credit or debt card each time we swipe. The reader makes two copies of your credit or debit card information: one to process the transaction and one to later download the information to the ID thieves.
To play it safe, use trusted ATM locations. Your bank branch’s ATM is usually a safe bet, since a security officer or camera often guards it. It’s a lot more difficult for ID thieves to compromise an indoor bank ATM than say, a random ATM on the street corner outside a convenient store.
Trim Down Your Wallet
While it’s not realistic to say, “Don’t carry your credit cards or cash in your wallet,” there are some other sensitive items a few of us DO carry in our wallets that aren’t necessary. The Identity Theft Resource Center recommends five things you should never carry in your wallet including your social security card or even a copy of your social security number, your birth certificate, bank account or routing numbers and password cheat sheets.
It’s best to keep these items tucked away in a safe and hidden place…and by no means in your child’s stroller!
Have a question for Farnoosh? You can submit your questions via Twitter @Farnoosh, Facebook or email at [email protected].
Farnoosh Torabi is America’s leading personal finance authority hooked on helping Americans live their richest, happiest lives. From her early days reporting for Money Magazine to now hosting a primetime series on CNBC and writing monthly for O, The Oprah Magazine, she’s become our favorite go-to money expert and friend.
Save more, spend smarter, and make your money go further
Previous Post
Your Finances This Election Year: The Argument Against “Moving to…
Next Post
Money Etiquette: Sticking to a Holiday Budget Without Being a…
Save more, spend smarter, and make your money go further
Have you checked the mortgage interest rates lately?
If you’ve got excellent credit you can get mortgage loans with interest rates near or below 3.5%, assuming your income and collateral are also in good shape.
Add that to a still recovering real estate market and now might be the time to pull the trigger on a home loan.
The Mortgage Loan Application Process is Unique
First off, borrowing money to buy a house will likely represent the largest financial liability you’ll ever have.
Second, managing a mortgage is unlike the management of any of type of loan due to property taxes, insurance, and impounds.
Finally, unlike a credit card, auto loan, or any other type of credit application process, the mortgage loan application process is unique.
Normally when you apply for a credit card or auto loan, the lender will pull one of your credit reports accompanied by one of your credit scores. They’ll then use that information as a basis for their decision about your application.
They almost never attempt to pull your other two credit reports and scores.
Mortgage lenders, however, almost always pull all three of your credit reports and your three credit scores as part of their standard loan application process.
And, if you are applying with another person, the mortgage lender will pull all three of their credit reports and credit scores as well.
This unique process yields a great deal of information. The aggregate leaves the lender with six credit reports and six credit scores.
Normally, the mortgage lender will “use” the middle numeric scores as to base their decision. That might solve the credit score issue, but it doesn’t solve the credit report issue.
Six credit reports, especially belonging to older applicants, can be overwhelming.
What is a Residential Mortgage Credit Report?
Normally a non-mortgage lender will simply go directly to a credit bureau and pull a report. But, in the mortgage world there’s an intermediary party referred to as a mortgage reporting company.
These companies pull the applicant’s credit reports on behalf of the lender/mortgage broker and then consolidate the information into one easy to read file.
This report is called an “RMCR” or Residential Mortgage Credit Report. They are also informally referred to as “Tri-merges.”
The information is merged, but more often it is done cosmetically, meaning your credit reports don’t really magically become combined with that of your co-applicant. Tri-merges are very easy to read as the mortgage reporting company will reorganize the information.
All of the scores go in one section. All of the positive information goes in one section– and yes all of the bad information goes in one section too.
Why Do Mortgage Lenders Need All Three Credit Reports?
There’s actually a very good reason mortgage lenders pull all three of your credit reports. First off, because of the amount of money being lent, the lender or funding source (Fannie Mae or Freddie Mac) requires that no credit stone be left unturned.
Credit reports, while considerably redundant, are rarely identical across the three credit reporting agencies. Pulling three reports all but guarantees the lender will see all of your financial liabilities, while pulling just one does not.
Additionally, you won’t have three identical credit scores. Pulling all three of your scores (or all six if you have a co-applicant) is a conservative approach to risk assessment.
It gives the lender a choice to base their decision on the applicant’s highest score, lowest score, or middle score. The middle score approach has been around for roughly 15 years, give or take.
How the Additional Inquiries Affect Your Credit
Don’t worry about the inquiry times three. Mortgage inquiries are among the least problematic to your scores and are considerably discounted by FICO’s scoring system.
In fact, the first 30 days on your credit file mortgage inquiries are ignored. That gives you the ability to shop around for the best rate without being worried about any negative score impact.
Happy house hunting!
John Ulzheimer is the President of Consumer Education at SmartCredit.com, the credit blogger for Mint.com, and a contributor for the National Foundation for Credit Counseling. He is an expert on credit reporting, credit scoring and identity theft. Formerly of FICO, Equifax and Credit.com, John is the only recognized credit expert who actually comes from the credit industry. The opinions expressed in his articles are his and not of Mint.com or Intuit. Follow John on Twitter.
Save more, spend smarter, and make your money go further
Previous Post
What are Divorce Loans?
Next Post
10 Tips for Spring Gardening on the Cheap
With a Friday deadline looming over lawmakers’ heads, the latest stimulus package seems closer than ever. But nothing has been signed just yet. The $900 billion stimulus proposal didn’t originally include direct payments to Americans, though the latest word from Congress tells us checks will be included after all — even if they’re only half of the CARES act counterpart.
As stimulus checks have been one of the largest pain points for lawmakers, the addition means we very well could have something tangible by the weekend. This is just in time for the 10 million people whose unemployment benefits would end on December 26 and the millions who would face eviction without aid.
Here’s what’s expected to be included
Aid for schools and vaccine distribution is included, though the exact breakdown isn’t quite clear. Here’s what we know so far.
Stimulus checks — While it was a late addition, one time direct payments to Americans is in the current plan. It’s just not at the level of the CARES act. Americans are expected to get $600, $700 if we’re lucky.
Unemployment benefits — $300 weekly unemployment aid is included — a 50% decrease from the $600 weekly benefits offered by the CARES act. The long-term unemployed also see some relief with the extension of extra state unemployment benefits.
Business aid — More than $300 billion is pledged to business support, including another round of paycheck protection for struggling small businesses.
Renters and food assistance — $25 billion is allocated to help renters say in their homes. Food assistance is also included.
Postal service — $10 billion has been allotted to bail out the U.S. Postal system.
[ Read: Latest PPP Data Raises Questions About the Distribution of Loans ]
What’s the holdup?
It’s the same old story, Democrats and Republicans can’t agree on what should be included and prioritized in the package. We seem to be over the stimulus check hurdle, though it did come at the cost of a larger check.
The original $908 billion bipartisan stimulus package proposal included $106 billion for state and local governments — a provision that Republicans would not pass. So that slowed things down. Democrats were able to secure help for cities through funds for transportation, schools and vaccine distribution; it’s just not as much as they originally pushed for. Democrats opposed the liability shield for businesses and universities that may face coronavirus-related lawsuits, so both sides have been forced to compromise.
[ Read: 11 States Stepping up to Supplement Unemployment Benefits ]
The present solution has been to split the original plan into two smaller bills — allowing them to delay the controversial topics without holding up the majority of the package. The first bill will total $748 billion and include measures like the Paycheck Protection Program and Unemployment benefits.
Too long, didn’t read?
The string of swapped proposals seems to be coming to an end — with barely any time to spare to avoid a government shutdown. But there are things lawmakers still can’t agree on. Despite it all, Biden remains eager for aid and has said this package is “an important downpayment” for the additional aid that will come in 2021.
We welcome your feedback on this article. Contact us at [email protected] with comments or questions.
Budgets are a vital part of balancing your spending and making progress towards your goals. We all know they are important — but that doesn’t mean making them is a breeze. Now that we’re nearing the close of 2020, it’s time to start your budget for next year.
If we’re being honest, your 2020 goals were likely derailed by the pandemic. You likely made some adjustments and might have taken on some extra debt in the process. But the fact is, you can’t create an effective budget without first identifying your roadblocks. Use these steps to create your 2021 budget.
1. Calculate your income
To start things off, you need to know your total income (gross income from all your sources). If you freelance or have a variable income, admittedly, this might not be easy. In this case, you can use an average. But, you might want to create a tighter budget to account for this gray area. If you have additional forms of income from a side hustle or source like child support, make sure you include it here. It’s worth emphasizing that your gross income will typically be a larger number, compared to your net income — which accounts for funds left after deductions or withholdings.
2. Look at your bills and balances
After calculating exactly how much money you make, you’ll need to lay out all of your bills and balances. We know this is probably the last thing you want to do, especially after 2020. Unfortunately, it’s probably the most important part of creating your budget. Collect your bank statements and bills to evaluate your balances and due dates. It doesn’t matter if you use the latest budgeting software, an excel sheet or a pad and paper, whatever it takes.
[ Read: The Best Savings Accounts in 2021 ]
When making a list of your monthly expenses, it might help to break them down by fixed or variable expenses.
Fixed: These expenses are the same amount each time, like your mortgage, rent or student loan payments.
Variable: This is where it gets tricky — variable expenses can change from month to month — entertainment, food and travel expenses.
3. Find opportunities to cut spending
Now that you’ve laid it all out and you know what percentage of your income is promised to bills, you’ll be able to find the spots you can pull back. You’ll need to be both realistic and a little harsh at this stage. Planning an inflated budget won’t help you manage your spending or achieve the goals you set for yourself.
[ From Trent: How to Create and Customize Your 2021 Financial Goals ]
For example, take-out is easy and sometimes a better option than going to the grocery store during the pandemic. But it’s not good for your wallet. The amount of money people spend on food has increased since 2019, so consider cheap-and-easy meals that save you time if you have a bloated budget.
Another pitfall many see in their spending is their subscriptions. Did you sign up for any free trials and forget to cancel last year? Evaluate your monthly subscriptions and see which ones you aren’t using. Charges like this can sneak by, sometimes without you even noticing –– but it adds up pretty quickly. After eliminating frivolous spending, you can redirect that money directly into your savings.
4. Don’t forget your emergency fund
So you have the bare bones of your budget laid out. You have found the areas you can cut back on and know how much extra money you’ll have each month. Now you need to decide what to do with it.
If 2020 has taught us anything, it is the necessity of building an emergency fund. This is not an area you want to overlook. If you’ve taken a detailed look at your expenses and what you spend, you’ll have an easier time finding the money to put in your emergency fund each month. You never know what could come up over the next year. It’s better to prepare now rather than scramble later. A little planning now will help you avoid predatory options like payday loans or cash advances.
In this article
5. Plan for your taxes
Taxes will be a little more complicated this year, especially for the millions of Americans who received unemployment benefits. Unless you opted into having taxes being withheld from your payments, you’ll see a larger tax bill for 2020. Not all states will tax these benefits, though federal taxes will be due.
[ Read: Income Tax Guide for 2020 ]
You’ll also need to look at your 401(k) or IRA contributions for the year. Contributing to these accounts will lower your taxable income. Any charitable donations you have made will also need to be accounted for, as they often mean additional deductions on your taxes. A little math now and a quick could help you maximize your write-offs.
Too long, didn’t read?
As you think about budget adjustments to welcome 2021, remember that there’s no wrong way to maintain a budget as long as you’re tackling your spending and keeping track of where your dollars go. It sounds like a simple idea, but it might seem difficult to pull off when you start. Use this list to organize your priorities when working on your budget. Hint: To ease step number one, write down every single monthly expense you can find. Here’s a quick and easy budget model to get you started and a detailed list of budgeting strategies. From there, our list will be easier to follow. Good luck, and let us know if you have any other methods that work for you.
We welcome your feedback on this article. Contact us at [email protected] with comments or questions.
Inside: Do you have a passion for something, but don’t know what to do with it? This guide will help you find a career that is perfect for you and match your interests and values.
This is something all of us wonder, right?
What should I do for a living?
Am I doing what I should do as a career?
Did I make the right decision with my career?
Or is it time to switch gears and find something that I love to do and make money at the same time?
I have been asking this question so many times, I finally decided to make a list of answers.
This is not just for those who want to know what they should do with their lives; it’s also for anybody looking for some new ideas on how they can fit into a career that will bring them satisfaction and happiness.
Recently, my middle schooler was asked, what do you want to do beyond high school? And he looked at me shell shocked.
Remarkably, this question of what should I do for a living is a doozy to answer. So, don’t feel alone if you cannot answer it… yet.
How do I find out what I should do for a living?
The first step to finding out what you should do for a living is to identify your skills and interests.
What are you good at?
What do you enjoy doing?
Once you have a better idea of your strengths and passions, you can start researching your options.
The bottom line…you must be happy to spend the next decades doing what you picked.
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.
Tips for finding a career you love
When you’re looking for work, it’s important to remember that there are many different ways of making a living. You can be an artist or designer in your own home studio, or run your own business. The key is to figure out what your interests are, and then find a way to use those skills in the work you love doing.
The goal of this article is not just to help you find a job that pays the bills, but to help you find work that is satisfying, meaningful, and fun.
Here are some tips to keep in mind as you go through the process of figuring out what you want to do with your life.
#1 – Focus on You
Don’t listen to people who tell you that you should do one thing. If your parents want to see you be a doctor, or if your friends think it’s important for you to have a “real” job, you might be tempted to listen to them.
Don’t let anyone else tell you what your passion is, or how you should spend your life.
Determine what’s important for YOU!
As you go through the process of figuring out what to do with your life, keep in mind that there are many different ways to live a happy and fulfilling life. You don’t have to be a doctor to help other people. You don’t have to work in an office all day, every day.
Do what you love and the money will follow.
If you do something that you love, you will never have to work a day in your life. If you do what you love, and are good at it, people will pay for that service or product.
Do what makes YOU happy. If you’re not happy, no one else will be either.
Don’t let anyone tell you what to do with your life. You should never have to justify your decisions or choices to anyone. You are the only one who has to live with your decisions and choices.
Do what you want, not what other people want for you or think that you should do. Period.
#2 – Identify What Interests You & Makes You Tick
There are a variety of ways you can go about finding out what interests you. You can read books and articles on different topics, talk to people with various careers, or take online quizzes and assessments – like this what should I do for a living quiz.
The first step to finding the right career for you is to identify what interests you intellectually.
What fascinates you?
What makes you feel like you are not working?
How do you want to spend your free time?
Once you know what fascinates you, the next step is to figure out how you can turn this into a career. Then, pursue your career interests relentlessly so you can reach your full potential.
#3 – Uncover your Strengths
Identifying your strengths is the key to finding opportunities that will be a good fit for you and enable you to reach your full potential.
Here are some things to take note of:
Pay attention to what you enjoy doing.
Notice when you feel most energized and engaged.
Consider what you do well naturally.
Reflect on feedback you’ve received from others.
Ask yourself how you can use your strengths more often in your current role or situation.
Once you know what they are, make sure to pursue opportunities that are based on them. This will help you stay focused and motivated in your work and life.
#4 – Match Your Values With Your Interests
Your values are the things that are most important to you in life. They guide your decisions and actions. They direct you to live a life that is meaningful to you.
There are many ways to identify your values. One way is to think about what is most important to you in different areas of your life, such as your relationships, work, leisure activities, and so on. Another way is to think about what you would like people to say about you when you are no longer here. What do you want them to remember about you?
Once you have identified your values, it can be helpful to write them down or share them with someone who will support and encourage you in living according to them.
When you link your values and interests together, it creates a powerful combination that can help you to live a more fulfilling and meaningful life.
When you know what is important to you (values) and what makes you happy and excited (interests), it becomes much easier to make decisions about how to spend your time and energy.
For example, let’s say one of your values is “family” and one of your interests is “cooking”. You could combine these by cooking meals for your family members or friends. Not only would this be enjoyable for you (because it aligns with your interest in cooking), but it would also be meaningful because it would be an act of love and care for those closest to you (which aligns with the value of family).
#5 – Consider your Lifestyle
Are you okay living below your means? Or do you prefer to flash your cash?
If you tend to spend money frivolously or struggle with saving money, then you need to be a high-worth earner. If you are okay living stingy, then a modest salary will probably work for you.
Keep in mind your lifestyle and what would be the best fit for you.
Consider if the hours are flexible, if you’d have time for hobbies and other interests, and how the commute looks. Sometimes rethinking your opportunities can give you a better perspective on what’s truly important to you.
Other Questions to Ponder:
Do you want a job that will consume most of your time?
Do you want a job where you can have a good work-life balance?
Are you okay with being tied to one location or have the flexibility to move around?
Are you willing to travel for work? If so, how often and how far?
What are your salary expectations? Are you looking for health benefits, paid vacation, or other perks?
Ultimately, there are many factors going into your decision. When considering a new potential career opportunity, it’s important to think about more than just the paper qualifications and the salary.
#6 – Spend Time Doing your Research
The best way to find a career you love is to first figure out what it is that you’re passionate about. What are the things that make you excited to get out of bed in the morning? Once you know what your passions are, research careers that align with those interests.
This just doesn’t happen overnight.
In fact, I recently went back to something of interest to me years ago because it would provide the time freedom I desired.
Spend time doing your research and following all the steps we cover in this post.
#7 – Find a career that matches your skills and interests
It can be difficult to identify what you want to do with your life, especially if you’re feeling lost or uncertain.
However, once you’ve identified what areas of interest might suit your skillset, try to link these interests with some type of career options.
Consider how your interests would fit into potential careers before choosing one.
It’s important to consider how your unique passions would fit into certain occupations or fields of work before choosing one. This will help you find a career that is satisfying and fulfilling. Consider the skills and interests you have and search for job openings that match them.
Start by researching the field you’re interested in.
# 8 – Talk to people in the field
There are a few ways to find people to talk to about your career interests. You can start by talking to friends and family members who might know someone in the field you’re interested in. You can also look for professional organizations related to your field of interest, or search for networking events in your area.
When you’re talking to someone about their career, it’s important to ask questions that will help you learn more about the field and whether it’s a good fit for you. Some questions you might want to ask include:
What does a typical day look like?
What is the most challenging part of the job?
What are the biggest rewards of the job?
These people will have better insights than what you can find searching the internet.
#9 – Get experience in the field
Oh, I cannot tell you how important this step is!
You have heard a similar story… my son dreamed of being an engineer and we planned to send him to engineering school. After his internship, the thought of being an engineer sucked the life out of him. Glad we learned this lesson before we spend money on his college education.
That is why I believe schools like this are so important to get real-life experience doing what you think you want to do for a living.
Consider internships or volunteer work to get your foot in the door.
Gaining experience can help you learn more about a particular field or company, and whether or not it’s the right fit for you.
#10 – Be open to change
Here are some things to keep in mind with change.
1. Change can lead to new opportunities: When you’re open to change, you’re also open to new opportunities. Embracing change can help you find a new job, start a business, or even move to a new city.
2. Change can help you grow: Personal growth is important for a fulfilling life. Change can challenge you and push you out of your comfort zone, leading to personal growth.
3. Change can be exciting: If you’re bored with your current situation, change can be exciting. It’s a chance to start fresh and experience something new.
4. Change can be positive: Even if it’s difficult, change can ultimately be positive. It can lead to improved relationships, increased happiness, and a better life overall.”
15 Most Popular Working for a Living Jobs
Many people want to know what they should do for a living.
For some, it’s not as easy as just “doing what you love.” There are definitely jobs out there that allow you to do what you love and make a living.
But first, we need to talk about the types of work available.
All salary estimates from Salary.com.
Registered Nurses
Registered nurses are in high demand and make a good living. They work with patients to assess their health, provide treatments, and help them recover.
Average Pay: $65k-70k per year
Education Needed: You need to have a nursing degree from an accredited school. You will also need to pass the National Council Licensure Examination for Registered Nurses (NCLEX-RN)
Police Officers
Police officers are responsible for upholding the law and maintaining public safety. A successful career in law enforcement requires strong communication skills and the ability to stay calm under pressure.
Average Pay: $54k-72k per year
Education Needed: Requires a college degree
Security Officer
More people are looking for security officer jobs as the world becomes increasingly dangerous. Security officers are in high demand and are usually the first responders in an emergency situation. It’s a challenging and rewarding career that can make a difference in people’s lives.
Average Pay: $32k-53k per year
Education Needed: Depends on their background and previous experience.
Real Estate Agents
If you’re looking for a job that’s in high demand, consider becoming a real estate agent. With the right education and licensing, you could be helping people buy and sell homes in no time. You must be comfortable marketing yourself and closing sales.
Average Pay: $38k-140k per year
Education Needed: Real estate agents need to be licensed in order to work. The real estate agent licensure test has a written and practical exam that must both be passed. In order to pass, you will need to know about contracts, financing, legal issues, and more.
Nursing Assistant
One of the most popular jobs in America is nursing assistant. It requires little training and pays relatively well. The work can be demanding, but it is also rewarding, and many nursing assistants feel a sense of satisfaction from their work.
Average Pay: $29k-41k per year
Education Needed: The Nursing Assistant job requires a high school diploma or equivalent, on-the-job training, and certification.
Delivery Driver
One of the most popular jobs in America is being a delivery driver. There are many positions for delivery drivers with different companies. Popular companies to work for include UPS, FedEx, and Amazon.
Average Pay: $39k-54k per year
Education Needed: Minimal. To become a delivery driver, you need to have a valid driver’s license and be able to lift heavy objects.
Firefighter
The most popular jobs in the United States vary from year to year, but there are always a few constants. Among these are firefighters, who protect lives and property from fires and other emergencies. They undergo rigorous training and must be physically fit to do the job.
Average Pay: $54k-94k per year
Education Needed: To become a firefighter, you need to have completed high school and be at least 18 years old. You will also need to pass a physical test and complete a training program.
Customer Service Representative
A customer service representative is the front line of a company and often the first interaction a customer has with the brand. The customer service representative’s job is to handle customer complaints, provide product information, and handle other inquiries. In order to be a successful customer service representative, one must have excellent communication skills and be able to stay calm under pressure.
Average Pay: $28k-44k per year
Education Needed: Minimal. Most require on-the-job training.
Dental Assistants
Dental Assistants are needed in every dental office. They help the dentist chair-side and perform a variety of tasks such as: take X-rays, prepare patients for treatment, sterilize instruments, and more. The Bureau of Labor Statistics projects that the number of jobs for Dental Assistants will grow by 18% from 2016 to 2026.
Average Pay: $32k-50k per year
Education Needed: To become a dental assistant, you will need to complete an accredited program and pass certification exams.
Nanny
One of the most popular jobs, and one that is likely to continue being in high demand, is nannying. To become a nanny, it is important to have experience with children and to be comfortable caring for them.
Average Pay: $37k-51k per year
Education Needed: You should also be CPR certified and have a clean background check.
Medical Assistants
A medical assistant is responsible for a variety of tasks in a doctor’s office, such as handling insurance claims, scheduling appointments, and helping the doctor with examinations.
Average Pay: $33k-44k per year
Education Needed: The job requires certification from an accredited program and on-the-job training.
Home Health Aides
Being a home health aide can be a rewarding career. Home health aides assist people who are unable to care for themselves in their own homes. They may provide basic needs such as bathing and dressing, or they may provide more specialized help, such as caring for someone who has Alzheimer’s disease.
Average Pay: $23k-33k per year
Education Needed: In order to be a home health aide, you need to have a high school diploma or equivalent, be at least 18 years old and have a driver’s license.
Personal Assistants
Being a personal assistant is a profession that helps people with various tasks. These tasks can include things like preparing meals, cleaning, and running errands. There are many different types of personal assistants, but all of them must have good communication skills and be able to multi-task.
Average Pay: $50k-83k per year
Education Needed: None
Graphic Designer
A graphic designer creates visual concepts, using computer software or by hand, to communicate ideas that inspire, inform, and captivate consumers. They develop the overall layout and production design for advertisements, brochures, magazines, and corporate reports.
Average Pay: $39k-65k per year
Education Needed: Many hold a bachelor’s degree in graphic design or related fine arts field.
Marketing Manager
A marketing manager is responsible for planning and executing marketing campaigns that promote a company’s products or services. They must have a strong understanding of marketing principles and be able to develop creative strategies that will engage consumers
Average Pay: $47k-94k per year
Education Needed: Usually need a least a bachelor’s degree, but the experience is more important.
High Paying Career Opportunities that Pay Over $100k a Year
There are many popular career choices that people will argue about. For example, which is the best job? This section covers jobs that pay over $100000 a year.
These jobs typically have six-figure salaries and require years of schooling and training.
Software Engineer
A software engineer is someone who designs, creates, tests, and maintains the software that makes computers work. They design, develop, test, and maintain the software that makes our lives easier. As technology advances, the job of a software engineer becomes more and more important. Writes code, tests, and debugs programs and perform a variety of complicated tasks.
There is a high demand for software engineers in the airline industry. Pilots need software engineers to design, develop, and maintain the software that controls the aircraft. They also need software engineers to help with the maintenance and troubleshooting of the software.
Average Pay: $65k-130k per year
Education Needed: Requires a college degree. Many have master’s degrees as well. To become a software engineer, one must have a strong foundation in mathematics and computer science.
Database Administrator
A database administrator is responsible for designing, implementing, maintaining databases, and troubleshooting databases while ensuring their availability 24/7/365. They work with clients to understand their needs and create databases that meet those needs. Database administrators need strong technical skills, as well as good communication and problem-solving skills.
Average Pay: $97k-150k per year
Education Needed: May require a bachelor’s degree in area of specialty or require certification.
Investment Banker:
A career as an investment banker can be quite fulfilling, as you will be responsible for helping companies raise money by issuing and selling securities. You will need to have a good working knowledge of financial markets, as well as excellent communication and organizational skills. As well as provides analysis of opportunities and potential investments, assists clients with the formulation of investment proposals, and provides guidance on the structuring and negotiation of transactions.
Average Pay: $56k-110k per year
Education Needed: College degree is typical and may require an advanced degree.
Air Traffic Controller
Air Traffic Controllers work in airports to ensure safe and efficient air travel. They monitor aircraft and make sure they follow all the necessary safety procedures. They also direct the movement of flights and keep an eye on traffic congestion. An air traffic controller is key for the safety of the pilots and passengers.
Average Pay: $54k-120k per year
Education Needed: Requires certification from the Federal Aviation Administration (FAA).
Petroleum Engineer:
There is an increasing demand for Petroleum Engineers. They are responsible for the exploration and production of oil and gas and work in a variety of industries, including energy, mining, and transportation. They develop plans to extract oil and gas from deposits below the earth’s surface and new ways to extract oil and gas from old wells.
Average Pay: $82k-120k per year
Education Needed: Requires a bachelor’s degree in engineering. May specialize in reservoir engineering, drilling engineering, or production engineering.
Anesthesiologists
Anesthesiologists are responsible for the care of patients during and after surgery. They monitor patients to make sure they are safe, help them breathe, and make sure they are comfortable.
Average Pay: $310k-520k per year (most anesthesiology assistants make well over $100k)
Education Needed: Requires a bachelor’s degree. Then, medical schools are offering anesthesiology education.
Airline Pilots
Being an airplane pilot is a very demanding job. Pilots need to be able to stay focused for long periods of time while flying. They also need to be able to make quick decisions while flying. Pilots also need to be able to multitask while flying. With travel demand constantly growing, there will be a growing need for pilots.
The airline pilot profession is a very demanding one that requires a great deal of education and training. It takes many years of dedicated study to become a qualified airline pilot.
Average Pay: $125k-163k per year
Education Needed: In order to become a certified pilot, pilots must first complete an accredited undergraduate program. After that, they must complete a professional pilot training program that can last anywhere from 1 to 4 years. Finally, they must pass a certification.
Psychiatrists
There are many different types of psychiatrists and their job duties vary. Psychiatrists are typically employed as full-time employees in hospitals, clinics, or private practices. A psychiatrist’s job duties may include diagnosing mental disorders and providing treatment.
Average Pay: $190k-300k per year
Education Needed: Usually required to have a graduate degree in psychiatry and pass a psychiatric board examination.
Orthodontists
Orthodontists are a type of doctor who specializes in the treatment of teeth and jaws. They use orthodontic appliances (braces and retainer devices) and other treatments to correct problems with teeth and jaws. Orthodontists typically work in private clinics and hospitals.
Average Pay: $100k-210k per year
Education Needed: Required to have a four-year undergraduate degree in dental hygiene, dental medicine, or dental technology. After completing an orthodontic residency, they must pass the American Board of Orthodontics (ABO) license examination.
Day Trader
A day trader is someone who makes a living by trading stocks, commodities, or currencies. They do this by buying and selling stocks, commodities, or currencies at the right time, and making a profit. This means that they are constantly on the lookout for opportunities to make money. A day trader typically works from home and may use a computer, telephone, or other electronic devices to trade.
Average Pay: $65k-120k per year
Education Needed: Required None required. However, many have a background in finance or economics.
Hedge Fund Manager
A hedge fund manager is a person who manages hedge funds. Hedge funds are investment pools that are used to protect investors from losses. Hedge fund managers make money by investing money in different types of securities.
Being a hedge fund manager is a very demanding job. It requires a lot of skill, knowledge, and experience. A hedge fun manager must be able to analyze financial data and make decisions quickly. He or she must also be able to communicate with clients and other employees of the hedge fund.
Average Pay: $87k-131k per year
Education Needed: Hedge fund managers must have a strong educational background. Studying finance or economics is usually necessary.
Web Developer:
A web developer is responsible for creating and maintaining websites. They work with clients to understand their needs and create a website that meets those needs. Web developers need strong technical skills, as well as good communication and problem-solving skills.
Average Pay: $97k-140k per year
Education Needed: College degree required. Must have certifications as well.
Network Engineer
A network engineer is responsible for designing, implementing, and maintaining networks. They work with clients to understand their needs and create networks that meet those needs. Network engineers need strong technical skills, as well as good communication and problem-solving skills
Average Pay: $73k-120k per year
Education Needed: College degree required. Must have certifications as well.
Trade Jobs that Pay A lot More than Minimum Wage
Trade jobs often come with good pay. This is because they require specialized skills and training. Some of these jobs include welders, plumbers, and electricians. Many trade jobs also come with good benefits packages. This includes things like health insurance and retirement plans. Some even offer the choice to join a union.
For example, welders and power plant operators can make an average of $23 an hour. Plumbers and electricians can make an average of $30 an hour.
Power Plant Operator
Aircraft Technician
Welders
Plumber
Construction Manager
Electricians
Real Estate Appraiser
HVAC Technician
Elevator Mechanic
Radiation Therapists
Boilermakers
Most Needed Job Opportunities
There are a number of jobs that are on-demand and in high demand right now. These jobs may have different requirements or be in higher demand in certain areas, but they all offer the potential to make a good living doing something you love.
There are many trade jobs that are in high demand right now. This means that there are more job openings than there are people to fill them.
This list of the top five jobs in demand right now was formed with the help of Best Colleges.
Nurse Practitioner
A Nurse Practitioner is a type of doctor who helps patients with a wide range of health problems. They work in a team with other doctors and nurses to care for patients.
Nurse Practitioners are trained to diagnose and treat a wide range of health problems, which can include everything from common colds to more serious diseases.
Average Pay: $100k-140k per year
Education Needed: Medical training is beyond what a registered nurse needs. A Master’s in nursing is required as well as state licensure.
Genetic Counselor
A genetic counselor is a healthcare professional who helps individuals and families understand and adapt to the medical, psychological, and social implications of genetic disorders. They work with patients to provide risk assessment, education, and support for inherited conditions.
Genetic counselors are poised for rapid growth and long-lasting job security due to advancements in genomics and genetic testing.
Average Pay: $67k-99k per year
Education Needed: Master’s degree in genetics and board certification.
Occupational Therapy Assistant
An occupational therapy assistant (OTA) is a healthcare professional who helps people regain and improve the skills they need to live and work independently. They provide rehabilitative services to patients who have sustained an injury, have a disability, or are experiencing physical and/or cognitive changes.
This may include helping individuals improve their mobility, balance, and coordination through exercise programs; improving the social skills of children with developmental challenges; working with people who have mental health conditions to help them participate in daily activities; or providing support to elderly patients who want to remain independent.
Average Pay: $52k-76k per year
Education Needed: Associate’s degree and field experience.
Physical Therapist Aides
Physical therapists aides help patients who have physical problems such as bed sores, fractures, and paralysis. They work with the physical therapist to help the patient move and perform activities of daily living. Typically duties include helping patients with exercises, massages, and other treatments.
Average Pay: $30k-38k per year
Education Needed: Physical therapist aides must have a high school diploma or GED and pass a criminal background check.
Information Security Analyst
The information security analyst job market is projected to grow by 33% over the next three years, making it one of the fastest-growing job markets. Information security analysts are vital to the protection of data and are responsible for the protection of computer systems and networks from cyberattacks and data breaches. They work to protect an organization’s most valuable assets- its data.
Average Pay: $70k-103k per year
Education Needed: Most have a Bachelor’s degree in software engineering or computer science. Also, many have certifications.
Thinking to Follow Your Passion – Cool Jobs to Do
There are a variety of jobs that you may not have considered that can be a great fit for you.
If you’re looking for a career change or just want to try something new, here are a few jobs you may want to consider. These jobs offer great opportunities and allow you to do what you love every day.
Video Game Programmer or Designer
If you love playing video games and have some creativity, you may want to consider becoming a videogame designer. This job allows you to use your imagination and creativity to create new and innovative gaming experiences for players all over the world.
Average Pay: $53k-185k per year
Education Needed: A college degree in computer programming is preferred. However, you can program get a certification and start working sooner.
Virtual Assistants (VA)
Being a virtual assistant can be a great way to make some extra money. It can be a lot of work, but with the right skills and equipment, it can be a lot of fun. Virtual assistants work with people all over the world, so there is always something new to learn. A VA has very flexible hours and can set its own schedule.
Average Pay: $39k-52k per year (depending on how much you hustle). Very common to make more.
Education Needed: None. But, this virtual assistant training is highly recommended.
Video Producer
There are a variety of video production jobs that are in high demand. If you have the skills and are passionate about video, there are plenty of opportunities out there. You could work as a video producer for a news organization, create video content for a website, or work for a company that produces video content for marketing purposes.
Average Pay: $47k-100k per year
Education Needed: Most have a college degree in design and video production. But, experience is preferred.
Tour Guide
If you are good at giving information tours, you may want to consider becoming a tour guide. Tour guides give visitors an overview of a particular place or attraction. They must be knowledgeable about the history and culture of the area they are touring, and be able to answer visitor questions.
Average Pay: $22k-44k per year
Education Needed: None.
Fashion Stylist
Detail-oriented people who have a passion for fashion and design can make a great living as a stylist. Stylists are in high demand, especially in the fashion industry. They typically work with clients to help them choose outfits or styles that will suit them, as well as style photo shoots and provide consultation on current trends.
Average Pay: $47k-64k per year
Education Needed: This is a job where you get popular by your experience and referrals.
Translators
Being a translator can be a very rewarding and challenging career. The most popular jobs for translators are in the legal, medical, business, and technical fields.
Translating is a very versatile job that can be done in many settings. Learning about the different types of translation and which language pairs are the most popular can help you get a better understanding of the field.
Average Pay: $43k-72k per year
Education Needed: Typically hold a bachelor’s degree. Must be proficient in at least two languages.
Social Media Manager
If you are able to communicate well, have strong writing and communication skills, and have some marketing experience, you may want to consider becoming a social media manager. A social media manager is responsible for developing and executing a social media strategy for their employer or client.
A social media manager is responsible for creating and managing a company’s social media presence. This includes creating content, monitoring activity, and engaging with followers.
Average Pay: $49k-75k per year
Education Needed: A college degree in marketing is preferred.
Event Planner
Event planners are in charge of organizing and managing events. They come up with ideas for events, coordinate with various departments to make them a reality, and keep things running smoothly. Event planners can work for businesses of all sizes, from small businesses to multinationals. There are many different types of event planners, so if you’re interested in a career in events, you should explore this avenue.
Average Pay: $47k-70k per year
Education Needed: Many have a college degree, but that is not mandatory. Strong organizational skills, attention to detail, and ability to work under pressure. Experience is best.
Florist
There are many cool jobs that you can consider if you are interested in the floral industry. A florist can work in a variety of settings, such as a grocery store, a restaurant, or a ballroom. A florist can also work as a freelance artist, creating floral arrangements for special events. This is a creative outlet for many and comes with flexible hours. However, work can be seasonal and require working on weekends and holidays.
Average Pay: $35k-76k per year
Education Needed: Nothing special. Just have an eye for creativity and a love of flowers.
Work Opportunities to Make Real Money
How do you want to make money? There are many ways. You could choose a career in medicine, law enforcement, or any other occupation that ultimately benefits society and helps people thrive.
Many people believe a business degree is worth it, but may not be the best choice for you.
Here are real jobs to make real money at work.
Teacher
One of the most popular jobs in America is teaching. Teachers are needed in every state, and the profession offers great stability and benefits. We need our teachers to teach the next generation.
Average Pay: $39k-80k per year
Education Needed: In order to become a teacher, you need to have at least a bachelor’s degree and be certified in your state. Many pursue a master’s degree in order to receive higher pay.
Veterinarian / Veterinary Tech
There are a lot of different jobs in the veterinary field, and if you love animals, chances are you would enjoy working with them. Veterinarians work with all types of animals, from pets to livestock. Veterinary technicians work with animals in veterinary hospitals, performing tasks such as recordkeeping and taking care of furry patients.
Average Pay: $60k-150k per year / $25k-55k per year
Education Needed: Becoming a veterinarian is much like going to college to become a doctor requiring specialty degrees. However, a vet tech only needs a high school diploma.
Construction Worker
Being a construction worker can be a challenging, but rewarding experience. It can be a great way to meet new people and build some amazing structures. The job requires a lot of physical labor, but it can also be very rewarding to see a project come to life. If you are interested in becoming a construction worker, be sure to research the profession and prepare yourself for the challenges that will come with the job.
Average Pay: $26k-47k per year
Education Needed: Starting out no experience is needed. To become a project manager, you will need a college degree.
Marketing Assistant
A marketing assistant helps with a variety of tasks in marketing. They may be responsible for monitoring and managing budgets, creating and distributing marketing materials, or working with customers to improve their experience with a company. If you have a strong interest in marketing and are comfortable working in a collaborative environment, a marketing assistant role may be a good fit for you.
Average Pay: $34k-57k per year
Education Needed: A college degree in marketing is preferred.
Truck Driver
One of the most popular jobs in America is a truck driver and a heavily needed position. The Bureau of Labor Statistics reports that there are 1,187,500 truck drivers employed in the United States.
Average Pay: $45k-58k per year
Education Needed: A high school diploma or equivalent is typically required to become a truck driver.
Administrative Assistant or Office Manager
The Administrative Assistant position is one of the most popular jobs in America. The role generally entails providing support to managers and employees, handling office operations, and managing schedules. In order to be successful in this career, you’ll need strong organizational skills and proficiency in Microsoft Office.
Average Pay: $35k-55k per year
Education Needed: None
What Should I Do for a Living FAQs
You enjoy going to work,
Your work makes you feel fulfilled.
Your skills are utilized and challenged.
You feel like you are making a difference.
This is why it is important to spend time making a decision on what to do for a living.
You’re not passionate about your work
You’re always stressed out
You dread going to work
You’re not challenged by your work
You don’t feel like you’re making a difference
It is better to make a decision to move out of the wrong career to maintain your happiness in life.
Research other careers that might be a better fit for you and consider making a switch.
Your interests can give you clues about the types of careers that might suit you. Your skills can help point you towards careers that will make use of your strengths.
Passions:
What are you passionate about?
What topics can you talk about for hours without getting bored?
Skills:
What natural talents do you have?
Are you good at working with your hands, or do you prefer working with your mind?
Do people often come to you for advice or help with problems?
Values:
What is important to you in a job?
Do you want to feel like your work makes a difference in the world, or do you just want a steady paycheck?
Do you prefer working independently or as part of a team?
Personality:
Are you an extrovert or an introvert?
Do people describe you as spontaneous or cautious?
Work environment:
Do you prefer working indoors or outdoors?
In an office or from home?
With animals or with people?
When it comes to choosing a career, it’s important to consider what kind of personality traits will make someone successful in their chosen field. Also, knowing your values can help narrow down your career options.
How can you create a career you love?
Your career is one of the most important aspects of your life. It’s what you spend the majority of your time doing, and it can have a huge impact on your overall happiness and satisfaction with life. That’s why it’s so important to find a career that you love.
When you have a career that you’re passionate about, it doesn’t feel like work. You’re more likely to be engaged and motivated, and you’ll be more likely to stick with it even when things get tough. Plus, pursuing a career that you love can lead to all sorts of other benefits, like increased success and earning potential.
There is no reason why you can’t create a career that brings joy into your life every single day!
How can you make a living doing what you love?
What are you good at? What do you enjoy doing? Which things are you naturally drawn to?
Those are the areas you need to focus on.
Once you have a plan, it’s time to start making money. There are a number of ways to do this, but the most important thing is to get started and keep moving forward.
Remember, it takes time and effort to build a successful business or find an enjoyable career.
What Should I Do Now?
There’s no single answer to the question “what should I do for a living?”
Everyone has a different idea of what they would like to pursue.
There is no right or wrong answer when answering this question, but if you are struggling with the decision-making process, take note of these most popular jobs and the skills you need to get them.
But by exploring your interests and values, you can find a career that is a perfect match for you.
No matter what your interests or skills may be, there is sure to be a cool job out there that is perfect for you.
You could also become an environmental scientist, web developer, or event planner. There are many exciting and rewarding careers out there – you just need to find the one that’s right for you.
Then, at the next social event, you can be proud to answer “what do you do for a living?”
So what are you waiting for? Start your search today!
More Ideas for You:
Know someone else that needs this, too? Then, please share!!
Bankrate helps thousands of borrowers find mortgage and refinance lenders every day. To determine the top mortgage lenders, we analyzed proprietary data across more than 150 lenders to assess which on our platform received the most inquiries within a three-month period. We then assigned superlatives based on factors such as fees, products offered, convenience and other criteria. These top lenders are updated regularly.
Cherry Creek Mortgage
Cherry Creek Mortgage has originated more than $70 billion in loans since launching in 1987, and is rapidly expanding its presence in the online market. The lender’s online, direct-to-borrower company, Blue Spot Home Loans, offers same-day preapprovals, and the average closing time is between 22 and 27 days.
Strengths: Cherry Creek Mortgage offers a wide range of loan programs, including low-down payment options. It also provides helpful calculators to estimate homeownership costs, and provides updated rates regularly online.
Weaknesses: The lender isn’t available in every state, and has stricter FHA credit score requirements compared to others.
Read Bankrate’s Cherry Creek Mortgage review.
AimLoan.com
Founded in 1998, AimLoan.com has funded over $31 billion in mortgages to over 90,000 homeowner. Known for cost-efficiency, AimLoan.com guarantees closing costs as shown at the time of application and rate lock, and guarantees the fees of third-party service providers as well.
Strengths: AimLoan.com strives to eliminate the most expensive components of the mortgage process, and offers transparent costs and an efficient application process.
Weaknesses: This lender doesn’t offer FHA or USDA loans, and doesn’t accept credit scores below 620 in most cases.
Read Bankrate’s AimLoan.com user reviews.
Better.com
Better.com is an all-digital lending company that has been doing business since 2016. Its tech-savvy approach to mortgages leads to quick preapprovals, as well as closings in around 21 days.
Strengths: Better.com doesn’t charge lender fees, is transparent about its rates and offers 24/7 customer service.
Weaknesses: This lender doesn’t offer VA or USDA loans.
Read Bankrate’s Better.com mortgage review.
Cake Mortgage
Founded in 2018, Cake Mortgage has funded over $3.5 billion in loans. The Chatsworth, California-based lender allows you to apply in just 10 minutes, can approve borrowers within 24 hours and often closes in as little as 28 days. You can apply for a loan completely online, or with a mix of online and phone engagement.
Strengths: Cake Mortgage is transparent about its rates.
Weaknesses: Cake Mortgage isn’t available in all states.
Read Bankrate’s Cake Mortgage user reviews.
Loan Surfer
Based in St. Louis, Missouri, LoanSurfer closes over $1.75 billion in home loans each year. Among its perks, the lender offers a mobile app that you can use to message your loan officer instantly, securely scan and upload documents and calculate payments easily.
Strengths: Loan Surfer has some helpful digital tools and boasts a commitment to closing on time.
Weaknesses: The lender’s website offers few details regarding its loan programs and interest rates.