The investing information provided on this page is for educational purposes only. NerdWallet, Inc. does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments.
“Two is better than one” is an old adage that translates to finances, too. Two incomes can go much further than one, especially between married couples.
People who say “I do” also have access to various tax breaks that can give them a financial edge when it comes to building wealth. For instance, married couples filing their taxes jointly get a standard deduction of $27,700 in 2023, while single filers get a $13,850 deduction.
How can married couples act on the many tax breaks they have access to and use them to build wealth? Two certified public accountants share a few strategies for couples to consider.
Strategy 1: Investing
When married couples get a tax deduction or tax credit, there’s an opportunity to invest that extra money. There are a string of ways to invest the money, but couples could benefit from investing in themselves, says Sheneya Wilson, a CPA and founder of Fola Financial in the Bronx in New York City. Couples may choose to use their tax savings to invest in courses that improve their skills, market value and salaries, she says.
Retirement accounts like 401(k)s, IRAs or regular brokerage accounts are also an option for couples. Investing those extra dollars from tax breaks means couples have more money that can potentially grow and enjoy the benefits of compound interest.
Wilson adds that married folks can also consider alternative investments, such as commodities, gold, silver, royalties or music catalogs.
Ultimately, couples can choose investments that align with their goals and legacy.
“The best investments are going to be in line with how that person wants to leave an influence on the world,” Wilson says.
Strategy 2: Real estate
Married couples who own a property may be able to sell it and exclude some of the real estate capital gains tax from their income. For married couples filing jointly, that means they can keep up to $500,000 of the profit tax-free. Single filers, on the other hand, are capped at $250,000.
“Now think about what you can do with around $500,000 of tax-free income,” says Williams. That extra money could go toward investing in another property, she adds.
Note that couples have to own the house, use it as their main home, live there for at least two of the five years before selling and meet other rules in order to qualify for the exclusion.
Strategy 3: 529 plans
529 plans — investing plans for education that allow tax-free growth and withdrawals — are another way couples can use tax breaks to build wealth, says Jasmine Young, a CPA and founder of Southern Heritage Financial Group in Atlanta.
“It could be your niece, your nephew, your cousin, it could be you, whoever’s gonna use the money for educational expenses,” Young says. ”That’s one way for you to reduce your tax liability and put the money somewhere that’s going to give you a resource to build generational wealth.”
Some states offer deductions or credits for 529 plan contributions. A perk for married couples is that in many states, joint filers can deduct double the amount than single filers, lowering their taxable income. The amount joint filers can deduct varies from state to state.
Another way married people can benefit from 529 plan tax benefits is with the federal gift tax exclusion. While 529 plans don’t have an annual contribution limit, contributions are considered “gifts” by the IRS, which means gifting over a certain amount could lead to extra paperwork at tax time. In 2023, those married filing jointly could gift $34,000 without needing to file a gift tax return versus $17,000 for single people.
Married couples who take advantage of this larger limit can save more annually for their kids or loved one’s kids and potentially help them grow wealth faster.
Another wealth-building strategy couples can potentially use beginning in 2024 is rolling unused funds in a 529 account into a Roth IRA account for the beneficiary. By rolling unused funds into a Roth IRA, the beneficiary — be it a child or family member — can get a head start on saving for retirement. There are several conditions account owners must meet to do this, so consult a financial advisor beforehand.
Strategy 4: Entrepreneurship
If one spouse is an entrepreneur, or a couple runs a joint venture, there’s an opportunity to write off business losses during tax season, Wilson says.
“If you are married, filing jointly and your spouse is investing in starting a business, there may be a net loss from that business venture on the joint tax return because that spouse was investing in maybe educational courses [to] start their business,” she says.
In 2023, married couples with their own business can take a loss of up to $524,000, compared with $262,000 for single filers. The dollars that may have gone to paying taxes can be funneled into growing an existing business, starting a new one, or paying down debt.
Couples curious about exploring more strategies they can implement may want to speak with a finance professional like a tax advisor or financial planner.
This article was written by NerdWallet and was originally published by The Associated Press.
It’s never too early to start learning smart strategies for managing one’s money. Most teens don’t get a formal education in topics like budgeting, investing, and choosing the right financial institution for their money, which is a missed opportunity.
That’s why it can be especially important for young people to take steps to build their own financial insights and skills. That can mean understanding the right amount to save and spend when earning a salary; what the challenges of managing credit can be; and how to invest money wisely.
This guide covers these aspects of financial literacy and more. Consider it a smart starting point as you build your money knowledge and know-how. Whether you’re thinking about buying your first car, affording college, or starting your own business someday, you’ll learn some of the key steps to bring your financial life into focus.
Why Is Financial Literacy Important for Teens?
Sad but true: Most people are launched into adulthood without being educated on personal finance. What’s more, in many households, money isn’t a topic that’s freely discussed, so kids don’t grow up hearing about how much their parents earn, spend, or save.
These are factors that can make it a challenge to gain financial knowledge and money management skills. However, learning about how to budget, save, invest, and spend wisely when young can set you up on the path to achieve your short- and long-term goals. That’s why you’ll learn some financial tips for teenagers right here.
The sooner you understand your way around money, the earlier you can get on the path to, say, travel around Europe for a summer, manage student loan debt, or even start saving for your dream house.
💡 Quick Tip: Typically, checking accounts don’t earn interest. However, some accounts do, and online banks are more likely than brick-and-mortar banks to offer you the best rates.
5 Key Financial Tips for Teens
Making the most of your money as you start on the path to your independent life doesn’t need to be complicated. Here are five important financial literacy concepts for teens.
1. Opening a Bank Account
Financial planning for teens often starts with having a bank account. Not only will a bank account make it easier to cash those birthday checks from Grandma, it also provides a place to monitor money and start saving.
Most bank accounts billed as “teen accounts” are really just joint bank accounts, because teenagers under 18 typically need a parent or guardian to also be an account holder. This makes it possible to open a bank account for a minor.
Although it’s sometimes easier for teens to open an account at the same place their parents bank, it may be worth researching which banks in the area have the best benefits for teenagers specifically. Some points to know:
• The age for opening up an account varies from bank to bank, so make sure to check specifications on the bank’s website beforehand.
• Valid identification like a student ID, driver’s license, passport, birth certificate, and/or social security card is also required for account owners when opening a teen checking account.
• In some cases, a parent or guardian must be present to open the account, but some banks do offer the opportunity to open an account online. This will often require uploading the same documents to prove your identity.
• Some banks also offer parental controls, setting withdrawal and debit card limits, or even text alerts about account activity. Before opening an account, it may be worth considering what is most important and beneficial — definitely talk it over with a parent or legal guardian.
• Learning about any fees or minimum balances from the bank is also important step in personal finance for teens. Make sure to ask the right questions in person or check out the bank’s fee structure on their website. Ideally, you might want an account with no fees and the ability to earn a bit of interest (many checking accounts pay no interest). You are typically more likely to find such offers at online vs. traditional banks.
• Having a bank account means access to making deposits and withdrawals, plus online banking tools that can help with money management.
A word about debit cards: A teen checking account typically offers access to a debit card, which allows account holders to take out cash from ATMs and use the card for purchases in stores or online.
And since a debit card takes money directly out of the checking account for payments, it may help to download the bank’s mobile app, if available. This can help with checking account balances and, at some banks, setting up alerts if the account falls below a certain balance.
A bank account is a great first step in learning money management, whether it’s using a debit card, checking balances, transferring money, or setting up a direct deposit for paychecks. Especially with a new job, a weekly or bi-weekly paycheck comes with learning more financial responsibility. With a personal bank account, teens can pick up crucial financial skills before turning 18.
And, at many banks, once someone does turn 18, the account can turn into a standard checking account, which they can either choose to keep or leave for a new banking institution. (Important note: There may be new fees, so it’s important to keep an eye on what those might be.)
Recommended: What Is a Student Checking Account?
2. Budgeting For Teens
Another financial tip for teenagers involves learning how to balance income and expenses. Making a simple budget can help keep things on track. Whether it’s keeping tabs on a monthly allowance or income from a part-time job, knowing how much money is spent versus how much money gets made is a key part of money management. Plus, a budget can show how much money is available to save every month.
Many banks with mobile or online banking offer simple budgeting tools, such as categorizing money into simple buckets like “spendable” or “set aside.” One pretty practical budget suggestion is the 50/30/20 method. This helps to simplify spending categories: rather than trying to decipher every transaction and having hundreds of small budgets for individual items, the 50/30/20 method just divides monthly income into thirds.
• 50% of income would be put toward necessities, such as bills and other regular spending that’s hard to do without. For teens, this might mean car-related expenses, like insurance and gas, or a monthly cellphone bill. If 50% seems like a lot — especially if parents are still paying for big expenses like groceries and housing — consider putting an extra 10% into savings or other financial goals for now.
• 30% would be allocated for day-to-day spending, like going out to eat with friends, entertainment, shopping, and other fun activities.
• The remaining 20% would be allocated for financial goals, usually savings or debt payoff. Maybe this can be the start of a college fund, or saving up for a big purchase in the future?
3. Smart Savings
In tandem with having a budget, learning how to save money is an important part of financial planning. Opening both a checking and savings account may make it simpler to put money away.
Since a debit card is only tied to a checking account, that’s like an added buffer from the money in a savings account. Plus, learning to regularly transfer money into a savings account can help create healthy money habits.
When you have a regular paycheck, one of the simplest ways to save more is to set up direct deposit to divide the funds between a checking and savings account. If 20% automatically goes directly into savings, it requires little extra thought each pay period.
Automating your savings in this way takes away the need to manually transfer money. This can help eliminate any mental gymnastics surrounding the desire to spend money in your checking account immediately — it’s like it was never there in the first place.
Plus, in an emergency, a connected savings account can help prevent overdraft fees. If college is in the plans, saving now could mean taking out fewer loans in the future.
In fact, this thinking can be applied to any money goal, whether it’s a new phone, car, or a big post-graduation trip. Saving now can make it easier to achieve later.
💡 Quick Tip: Most savings accounts only earn a fraction of a percentage in interest. Not at SoFi. Our high-yield savings account can help you make meaningful progress towards your financial goals.
4. Being Cautious With Credit
Financial tips for teens are full of dire warnings about the perils of credit cards. But learning early on how credit cards work and how to manage credit is also part of mastering money management. Building credit now may open more doors in the long run.
For example, establishing a positive credit history can help make it more likely to successfully secure a loan for a car or rent an apartment down the road.
One way for teens to start is to get added as an authorized user on a parent’s credit card. The authorized user gets the benefits of the credit card and building credit history without the responsibility of being the primary cardholder and making payments.
However, since late payments may impact both credit scores, teens can also set up an arrangement to pay off any debt incurred using the card each month.
In fact, it’s getting harder for people under the age of 21 to get a credit card, because federal law under the Credit CARD Act of 2009 requires credit card issuers to verify that the applicant has the following before a credit card is issued:
• A cosigner’s signature. The cosigner can be a parent, guardian, etc. as long as they are able to pay the applicant’s debt from the card.
• Official financial information proving that the applicant can repay the debt on their own.
The submitted application must be written. And if a person under 21 is approved for a card, they can’t get a credit limit increase without written approval from the cosigner.
Eventually opening an individual credit card without a cosigner, of course, means a lot more financial responsibility. Paying a credit card in full each month, as opposed to carrying a balance, is an important financial habit to get the hang of, as paying in full each billing cycle means the cardholder won’t pay interest on a balance and it can help build credit score.
Until then, an authorized user receives a separate credit card in his or her name, but there may be no need to even use the card. Just having it issued can help build credit if the main cardholder is keeping up with their payments. As credit builds, it’s smart to monitor credit reports and scores for errors or fraud. It might be a good idea to start monitoring credit through a free site like FreeCreditReport.com .
5. Setting Up a Side Hustle
If a part-time job or summer gig isn’t an option just yet, whether due to age, school work, or other restrictions, there are other options for earning extra cash. One of the benefits of a side hustle is being able to bring in income. And any income, however small, could help build good personal finance habits like budgeting and saving.
For ideas, look to needs in the community, such as assisting older adults with technology, babysitting, tutoring, or lawn care. Helping on a moving day, walking dogs, or washing cars are also great ways to step up from a beginner’s lemonade stand.
You might also consider your hobbies: Do you paint landscapes in your free time? Make jewelry? You could possibly sell your work to bring in some cash.
For those nearing college and looking for a part-time or entry-level job, it may be worth considering a company that offers tuition support or reimbursement for their employees.
Building smart financial planning skills now may make it even easier down the road when starting a full-time job — with budgeting and saving.
Can You Invest as a Teenager?
Many teenagers are curious about investing and how they might build wealth that way. Here are a few things to know if you’re wondering how to invest as a teenager:
• If you are under age 18, you cannot be the sole owner of a standard brokerage account.
• With adult supervision, you may open what is known as a custodial account. This means that the adult oversees the account while you are under 18. When you turn 18, you can likely take over control of the account with the adult’s approval.
By collaborating with an adult in this way on investments, you can learn the basics and begin to experiment. The conventional wisdom is that, the younger you are, the more risk you can afford to take with investing, since you have time to recoup any losses and ride out the ups and downs of the market.
Just do keep in mind that investment does have inherent risk, as your portfolio isn’t insured the same way money in the bank is.
Once You Are Old Enough to Invest, Where Do You Start?
If you are old enough, here’s how to invest as a teenager. Keep these tips in mind:
• Do your research. There is plenty of information about investing available online, via apps and classes, in books, on podcasts, and beyond. Find reputable resources and educate yourself on how to invest money as a teen. This can include both principles of investing as well as different kinds of investments to consider.
• Set goals. When you begin investing, it’s wise to figure out your goals, and you may indeed have more than one. Perhaps you want to invest in the short-term to help generate money to pay back student loans. And maybe you also want to begin saving to start a business when you are 35. Those different goals and timeframes can influence how you invest.
• Opening a brokerage account. Once you are old enough, you will have a choice about the sort of account you open and how it is managed. Whether you want to work with a financial professional or try robo advising, spend time understanding the pros and cons of your options.
When you make a decision, you’ll be ready to invest money as a teenager, but it doesn’t have to be set in stone. You can shift gears and try other methods as well.
Making Smart Money Moves With SoFi as a Teen
While SoFi doesn’t offer bank accounts for minors, take a look at what we offer for when you are of legal age to open an account. Or, if you are age 15 or older, see if you might be added as an authorized user to an adult’s account.
Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with direct deposit, you’ll get a competitive annual percentage yield (APY), pay zero account fees, and enjoy an array of rewards, such as access to the Allpoint Network of 55,000+ fee-free ATMs globally. Qualifying accounts can even access their paycheck up to two days early.
Better banking is here with up to 4.50% APY on SoFi Checking and Savings.
FAQ
What should high school students know about financial literacy?
It is important for high school students to learn about opening bank accounts, budgeting, saving, managing credit wisely, and bringing in income.
How can a 16-year-old invest money?
A 16-year-old typically cannot open their own brokerage account. However, they can open a custodial account with a trusted adult.
How would you invest $1,000 as a teenager?
A teenager typically cannot invest money on their own; they would have to open a custodial account with a trusted adult. Then, they would have to identify a goal for the funds (to generate income ASAP? To grow slowly for use later in life?) and select the right kind of investments.
The SoFi Bank Debit Mastercard® is issued by SoFi Bank, N.A., pursuant to license by Mastercard International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.
SoFi members with direct deposit activity can earn 4.50% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. Direct Deposit means a deposit to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Direct Deposit”) via the Automated Clearing House (“ACH”) Network during a 30-day Evaluation Period (as defined below). Deposits that are not from an employer or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, do not constitute Direct Deposit activity. There is no minimum Direct Deposit amount required to qualify for the stated interest rate.
SoFi members with Qualifying Deposits can earn 4.50% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Qualifying Deposits means one or more deposits that, in the aggregate, are equal to or greater than $5,000 to an account holder’s SoFi Checking and Savings account (“Qualifying Deposits”) during a 30-day Evaluation Period (as defined below). Qualifying Deposits only include those deposits from the following eligible sources: (i) ACH transfers, (ii) inbound wire transfers, (iii) peer-to-peer transfers (i.e., external transfers from PayPal, Venmo, etc. and internal peer-to-peer transfers from a SoFi account belonging to another account holder), (iv) check deposits, (v) instant funding to your SoFi Bank Debit Card, (vi) push payments to your SoFi Bank Debit Card, and (vii) cash deposits. Qualifying Deposits do not include: (i) transfers between an account holder’s Checking account, Savings account, and/or Vaults; (ii) interest payments; (iii) bonuses issued by SoFi Bank or its affiliates; or (iv) credits, reversals, and refunds from SoFi Bank, N.A. (“SoFi Bank”) or from a merchant.
SoFi Bank shall, in its sole discretion, assess each account holder’s Direct Deposit activity and Qualifying Deposits throughout each 30-Day Evaluation Period to determine the applicability of rates and may request additional documentation for verification of eligibility. The 30-Day Evaluation Period refers to the “Start Date” and “End Date” set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the “30-Day Evaluation Period”). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. Upon receiving a Direct Deposit or $5,000 in Qualifying Deposits to your account, you will begin earning 4.50% APY on savings balances (including Vaults) and 0.50% on checking balances on or before the following calendar day. You will continue to earn these APYs for (i) the remainder of the current 30-Day Evaluation Period and through the end of the subsequent 30-Day Evaluation Period and (ii) any following 30-day Evaluation Periods during which SoFi Bank determines you to have Direct Deposit activity or $5,000 in Qualifying Deposits without interruption.
SoFi Bank reserves the right to grant a grace period to account holders following a change in Direct Deposit activity or Qualifying Deposits activity before adjusting rates. If SoFi Bank grants you a grace period, the dates for such grace period will be reflected on the APY Details page of your account. If SoFi Bank determines that you did not have Direct Deposit activity or $5,000 in Qualifying Deposits during the current 30-day Evaluation Period and, if applicable, the grace period, then you will begin earning the rates earned by account holders without either Direct Deposit or Qualifying Deposits until you have Direct Deposit activity or $5,000 in Qualifying Deposits in a subsequent 30-Day Evaluation Period. For the avoidance of doubt, an account holder with both Direct Deposit activity and Qualifying Deposits will earn the rates earned by account holders with Direct Deposit.
Members without either Direct Deposit activity or Qualifying Deposits, as determined by SoFi Bank, during a 30-Day Evaluation Period and, if applicable, the grace period, will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances.
Interest rates are variable and subject to change at any time. These rates are current as of 8/9/2023. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet..
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
External Websites: The information and analysis provided through hyperlinks to third-party websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are provided for informational purposes and should not be viewed as an endorsement.
Disclaimer: Many factors affect your credit scores and the interest rates you may receive. SoFi is not a Credit Repair Organization as defined under federal or state law, including the Credit Repair Organizations Act. SoFi does not provide “credit repair” services or advice or assistance regarding “rebuilding” or “improving” your credit record, credit history, or credit rating. For details, see the FTC’s website .
When you are an experienced real estate agent looking for a new brokerage, you are thorough about interviewing companies that will be the right fit. You analyze change not only in terms of commission splits, culture, marketing, and support, but also in terms of what feels good for your business. You look for companies that fit your goals and will be good for growth. You have learned to interview brokers and not the other way around. You know the ins-and-outs of the business and feel confident that you will bring value to a company but the value needs to be reciprocal. Going through the trouble of changing companies without benefit for you and your business, would make absolutely no sense.
Oh the headache!! New business cards, property signs, branding! Going through all platforms changing brokerage names. Making announcements and making sure business is uninterrupted! Change and adjustment must come with a nice price tag and added value.
The easy way is not always the best way
No wonder so many agents remain in their good ‘ol boring companies for years. If it ain’t broke, don’t fix it! How lame is that!! And how can you really scale your business with your current status quo. Well…maybe you are happy with status quo, and that’s really ok – but what if a broker knocked on your door and promised you more money? (I’m not mentioning any names or the known company offering nice bonuses!!) <<pure sweetness, may as well take a nice vacay and continue your good ol’ business once you return.
But I’m not talking about magic pills here. I’m talking about not scaling your business because of lack of motivation, fear of technology, fear of hiring help, or worse: fear of change. So if a broker can guarantee efficiency so you have time to focus on real estate, would that catch your attention?
I know what you are thinking … you are an independent contractor. Shouldn’t you be responsible for improving your own business? That is NOT your broker’s responsibility. << sorry to say but although much of that is true, it’s also a good way for you to BS yourself. A good broker will go out of their way to continuously improve their tech and systems to make you productive and efficient. A great broker will do that and also make sure your needs are taken care of instead of forgetting you in the background and focusing on their new hires.
Is the value promised real?
The truth is that brokerages need money to make money – so if they claim they will provide value, they better give proof, not just tease you with the latest shiny object.
Let’s break down what’s important to you as an agent:
tools (in one place, not having to jump around all over the web, and having the latest tech)
name recognition (is this really about the broker or your own brand and value?)
efficiency (cut down hours doing useless things that don’t make you money)
support (cut down hours doing useless things that don’t make you money)
leads (do you want a broker that gives you hand-me-downs or one that will provide A.I. and predictive analytics?)
Your current broker could be holding you back
The point of this article is to make you think of the unthinkable, change. Mediocrity is not an option, and although change is sometimes the answer for making great things happen, your decision should ultimately be about aligning yourself with powerful and smart people that will not just compliment your business but help it soar to new levels.
I challenge you to look back at your business and analyze how it has improved (or not) in the last year. Can you hear “change” calling your name? shhhhh…..if you listen, it will be clear as day.
This article is part of a series put together by the Total Mortgage marketing team that provides loan officers and other sales professionals with a crash course in marketing and self-promotion. To read other articles in this series, click here.
This article is designed to teach loan officers and other sales professionals how to properly maintain and boost their social media presence. It will hit all the key points such as connecting, managing multiple profiles, engaging with influencers, and what to post.
Want to jump ahead?
LinkedIn
Connecting & Following
Managing Multiple Profiles
Properly Engaging with Influencers
How and What to Post
Facebook
Connecting & Following
Managing Multiple Profiles
Properly Engaging with Influencers
How and What to Post
Twitter
Connecting & Following
Managing Multiple Profiles
Properly Engaging with Influencer
How and What to Post
Google +
Connecting & following
Managing Multiple Profiles
Properly Engaging with Influencers
How and What to Post
LinkedIn
How to Gain/Find Connections
When you first started setting up your LinkedIn account, you were prompted to import your contacts from your email address book. If you clicked yes, you probably already have a few dozen connections. However, once your profile is completed, you will need to search for those connections you didn’t have on your contact list, like loan officers you met at a conference or realtors you haven’t had a chance to work with yet. There are many different ways to go about finding and linking with connections on LinkedIn.
The first way is arguably the easiest way: using the Search box. It can be found on the top of any tab of the LinkedIn interface. There are also many “Advanced Search” options available if you click the “Advanced” text link right next to the search button.
You could also find connections from clicking onto your Profile, scrolling down to your experience and hovering over your business place icon and then clicking onto the icon or your company title, highlighted by the red arrow.
After clicking on your company’s icon, scroll down until you see the “How You’re Connected” on the right side of the screen. Click “See all.”
Now you have the opportunity to see coworkers and contacts who you’re not connected to.
Managing Multiple Profiles
LinkedIn is generally a place where you focus on one personal profile. However, if you run your own business, you will want to create a company page for it. If you need help creating a company page, check out my Social Media Basics post. If you only manage one page, then this section may not be that useful.
If you are on your profile page and you want to switch to your company page, you simply click on the small icon on the top right hand corner of your screen (where the arrow is shown) then on “Company Page.”
This will lead you to this screen.
You’ll now be able manage, change, analyze, and update your company page. If you want to switch back to your profile page, just click on the home tab or profile tab.
Engaging with Influencers
Connecting with influencers—that is, the people who are active, established, and popular in your industry—is a great way to widen your reach. Of course, engaging with influencers on LinkedIn is not something you should do blindly. It takes strategy and time to do correctly.
Do Not:
Do not connect with an influencer without ever interacting with them
Do not like, comment, or share everything they post
Do not post more than 3 times per day
Do:
Do connect if you had previous relations
Do connect if you are connected on other networks
Do connect if you have exchanged emails or contact info
How and What to Post on LinkedIn
Posting on LinkedIn is very straight forward. LinkedIn allows you to share updates, publish a post, upload a photo, share in groups, and post job opportunities. You can access these options in the home tab, except for sharing in groups and posting job opportunities.
Sharing in a Group
Sharing in a group could be a great way to get your content to a broader audience. Joining groups on LinkedIn is very easy. First, click on the “Interests” tab and then click on “Groups” If you are already a member of a group it will appear under the “My Groups” section. If you aren’t a member of any groups, just click on the “Discover” tab and LinkedIn will provide recommendations for groups to join. You have the option to select “not interested,” “ask to join,” or you can ignore and continue to scroll.
Once you ask to join a group, your request must get approved by an admin, which can take a day or two depending on how busy they are. After you’re accepted, you can view what the others in the group are posting. To get started, click on “Start a conversation with your group.” The box will expand and you get the options listed below. At this screen, type in your title and a brief description with a link to the real content. Follow the same process for posting a job opportunity in a group.
If you run a LinkedIn business page, then you have the option of posting a job ad through the “Business Services” tab. Once you hover over “Business Services,” click on “Post a Job” to get to this screen.
After you fill out the appropriate information and click “Start job post,” LinkedIn will walk you through a series of prompts, where you will fill out information like job function, company industry, and job description. Once that’s done, review everything and click submit.
What to Post:
Career status updates
News and events
Articles shared by your connections
Your own articles
What not to Post:
Quotes
Updates trying to sell services/items
Material you deem not appropriate for the workplace
Facebook:
How to Gain Followers:
With more than 1.65 billion monthly active users, Facebook has the potential to connect you to people across the globe. If you’re using Facebook for business purposes, you need to understand how to properly navigate it to connect with others.
There are multiple strategies to take. For example, you can create a personal account, a business page, or both. If you’re in an industry where you need to keep things professional (like, for instance, the mortgage and financial industry), then I recommend creating a business page so you can separate your professional life from your personal life. You have to mindful of whom you invite to like your page, but we’ll touch on that topic a little later.
If you’re completely new to Facebook, prepare to spend some time connecting with people you know. You can manually add friends by clicking in the search box at the top of the screen and typing the name of the person you are trying to find. Eventually Facebook will tailor a carousel of “People You May Know,” which will allow you to click “Add Friend.” Thankfully, Facebook has implemented a few tricks to make it easier to add friends in bulk.
Go to the Friends Request page then to the “Add Personal Contacts,” enter your email and click find friends.
After you enter your email it will take you through to a similar screen. Click “Agree,” then follow the on-screen instructions.
On the Go
You can also import contacts from your mobile device.
Tap
Hit “Find Friends” in the Apps section
Tap “Contacts,” then follow the on-screen instructions
Connecting to Others Via Your Business Page
Click on the triangle in the top right corner of your home page.
Click on the drop down menu and select your business page.
Click on the […] on your cover photo and then click on “Invite Friends.”
Search all friends: click the invite box next to your friends’ names to invite them to like your page—or type their names in the search box.
Managing Multiple Profiles
Facebook does a fantastic job of making it easy to manage as many pages as you want. Their interface organizes your pages so you can easily switch through and manage every single of one of them. Every time you create a new page, Facebook allows you to add that page into your “Favorites” section. I highly recommend doing this, because it keeps all of your pages in easy reach, which you can see in the image below.
You can also switch between pages by clicking the drop-down triangle on the upper right corner of your home page. In that menu, you’ll find a list of three of your pages. Shown below:
If you manage more than 3 pages—like we do here at Total Mortgage—you can just click on “See More…” and it will give you a list of all the Facebook pages that you manage. To switch back to your personal page, you simply just need to hit the “Home” button and it will take you back to your feed.
Properly Engaging with Influencers
Recently, Facebook has changed how you interact with other people or businesses when you’re on your business page. Once, you were able to be on your business profile, click on “Home” and interact with people and businesses that follow your business page. However, that is essentially nonexistent today. Now you really need to be creative if you want to engage with influencers in your community.
To Like a Different Page as Your Business Profile
Go to the page you want to like and click on the […]
Click “Like As Your Page.” Then this screen will pop up and you choose the business account that you want your like to come from. Click “Save.”
Tagging other influencers in your Facebook posts is simple if you know the name of their business page. A lot of influencers have both personal and professional profiles, however, so make sure you know which one you’d like to connect with.
Unfortunately, you can’t tag a personal account from your business profile. If you want to tag a professional account from your business page, you craft your post, then add the appropriate tag at the end. You always want to convey that you got the content from a source and you are using it credibly.
In the picture below, you see that I have crafted a draft of my message and tagged the source I got it from with the tag “via @[name].” Instead of via you could use from, by, thanks to, etc. When possible, try to use a link shortener such as Buffer or Hootsuite to keep things looking tidy.
Once you get the proper etiquette down for interacting with influencers, now it’s time to engage with them. Like I mentioned above, you can like other pages as your page. You are able to do the same for posts. You do that by going to the page you want to like something on and scrolling to the post that you want to interact with. Before you like the post or comment, make sure you switch from your profile to your business profile. You do this by:
1. Clicking on the downwards arrow next to your small Facebook default icon
2. Click on the account you want to like and comment as.
You are now liking and commenting as your business account. This is the best way you can engage with your influencers. There are 3 important things you must always remember to do and don’t do before you start engaging with influencers.
Do Not:
Do not like/comment on everything that they post
Do not ask for a favor like sharing a post right away
Do not reach out to them right away
Do:
Gradually interact with them by liking their page and commenting on a few posts/pictures 1-3 times a week
Share some of their posts 1-2 times a week
Always remember to thank them for sharing information that you find important
Here’s where you use your gut. Once you think you’ve earned yourself a spot on the influencer’s radar, the next step is to reach out personally. This can be done in an open forum through commenting, or it can be done through private message. The eventual goal is to take the conversation “offline” through either phone or email so you can begin building an even more personal relationship.
How and What to Post on Facebook
Posting and sharing on Facebook is very easy. If you have a personal Facebook, you already know the drill. If this is your first time on Facebook or you don’t know how to post to your business page, then keep reading.
Posting on Your Personal Page
Bring your mouse to the top tab and click on your name
Click on the box where it says:
3. Click on the kind of post you want to craft: status, photo/video, or life event. Finish typing it with the appropriate tags (if needed) and click post.
Posting on your Business Page
Make your way over to your business page
Click on the box where it says “status, photo/video, or life event” and create the post you want to send out
When you are finished, click “Publish”
What to Post on Facebook
There are two types of content that you should post on Facebook. The difference depends on what account you plan to post with. For both profiles, you should post content that really resonates with your audience and makes people see you as a credible source (i.e. if you’re a loan officer, try content based around changes in the industry or tips on how to make the mortgage process easier).
Content like this positions you as an authority and encourages your audience to consider using your services if they are shopping for a home or refinancing. Every once in a while, it’s okay to throw in a shameless plug, whether you’re asking for referrals or encouraging people to use your services. Your personal page can have all the other updates—photos of your family, your dog, things you’re passionate about, etc. It is ok to post some business topics on your personal page, but make sure to do so sparingly. Your personal page is meant for personal things.
Twitter:
How to Gain Followers
Twitter is a great place to gain followers based on things that you find interesting. You can use the search box to find other professionals and people in your industry by looking for relevant hashtags, like #realestate.
Top Tips for Gaining Followers
Try finding your connections from other places like Facebook and LinkedIn on Twitter
Follow users who follow your followers
Follow the accounts recommended by Twitter
Join a Twitter chat
Managing Multiple Profiles
Unfortunately, Twitter doesn’t have an interface within itself to switch profiles easily—unless you are on your mobile device or want to use multiple web browsers. However, there are certain tricks, tips and hacks you can use to make managing multiple profiles easier.
Toggling Profiles in the Twitter App for iOS
From the “Me“ tab, tap the people icon
Tap “More options.”
From here you can “Create new account” or “Add an existing account.”
Once you’ve added your additional account, you can toggle between accounts by tapping the people icon.
Toggling Profiles in the Twitter App for Android:
Tap the overflow icon
Tap “Accounts.”
From here you can “Create new account” or “Add existing account.”
Once you’ve added your additional account, you can toggle between accounts by tapping the overflow icon, then tapping “Accounts.”
If you’re uninterested in downloading the Twitter app for your mobile device, there are other options. If you manage more than one profile you can easily manage multiple accounts if you use a tool like Tweetdeck, Buffer, or Hootsuite. All of these applications have free versions, so you don’t have to worry about spending money.
These apps make it easy to manage countless amounts of accounts. My personal favorite of the three is Buffer, because the interface is very easy to use and it provides multiple tabs to check out how your account is doing in terms of analytics. It also has a built-in link shortener that automatically shrinks your links when you are adding them to a post. Shown below is a screenshot of my Buffer interface.
Engaging with Influencers
Engaging with influencers on Twitter is a great way to kick-start your influencer marketing strategy. This is where Twitter search comes in handy; you can use it to find the people who tweet regularly in your industry regularly. If you want to stay organized, I recommend creating a spreadsheet that has a list of your influencers, their names, follower count, and what stage of your relationship you’re in. Once you’ve found a handful of them, it’s time to start engaging.
Do not:
Tweet, retweet, or like everything that they tweet
Try to directly reach out to them—it comes off creepy
Follow them on other networks without establishing a relationship with them
Do:
Occasionally tweet, retweet, or like their posts to get on their radar
Appreciate their content by tweeting it out to your audience (and making sure your attribute the author)
Once you established a relationship, make it easy for them to tweet about your service by crafting an email with a few sample tweets that they could send out about your services. Make sure you convey the message that you are willing to reciprocate the favor
How and What to Post:
Posting on Twitter is very simple. If you are on the web browser version of Twitter the tweet box is one of the first things that you see. You can find it by looking for the “What’s happening?” text.
To compose a tweet you just click on this box and type the content you want to share.
Posting a Tweet on a Mobile Device
Tap the compose Tweet icon accessible from your Home timeline, the Notifications tab, or your profile (usually located on the upper right hand of your screen.)
Start typing where it says “What’s happening?”
If you’d like to Tweet an image, tap the camera icon
Tap “Tweet” to post.
What to Post
Just like any other platform, choosing what to post comes down to a few key factors.
Who your audience is
What kind of message are you trying to portray
What kind of content will resonate with that audience
Make sure you don’t forget to utilize the power of hashtags on Twitter. To see how a hashtag is performing simply search the hashtag in the search box before you post the tweet or check it out on Tagboard.
You want to have the appropriate amount of hashtags to text ratio. Most marketers recommend using no more than 3 hashtags per tweet. However, if your tweet only contains 3 words, don’t hashtag them all. Finding the perfect mix of creativity and content is surely a challenge but once you find your niche you will be good to go.
Google Plus
Google+ is one of the most underrated social media platforms, but it could be a great asset to your strategy if used properly.
How to Gain Followers
Make Your Profile Look Good
I know, it sounds obvious, but a lot of people just use the default graphics that Google supplies. Make sure your profile looks good and is customized so you reach people in your niche.
Follow other Google Plus People
Just like other social platforms, you’ll need to work for your followers. You do this by following as many people as possible. There are multiple ways of doing this. If you are looking for people to connect with , search for something relevant to your industry like, for example, “Real Estate.” A list like below will pop up and you will be able to decide who what you want to follow, whether it be collections, communities, people & pages, or if you just want to view posts.
You can also follow people manually:
Click the People Icon on the left side of the screen
You should see a “Find People” option. Click on that
Go through the list of people and see who you want to add
You can add them to just your follower base or you can add them to relevant circles, such as “Realtors”
Join Communities
If you’re looking for the fast track way of getting your name in front of dozens, even hundreds of people at once, then you’re looking for communities. When you join a community, you are part of a much larger group of people who are interested in a certain topic. This is how you engage the right kind of followers.
Utilize Hashtags
With Google Plus know you can search content by words, phrases, and hashtags. Even though hashtags are more popular on Twitter, they work the same way on Google+.
Let’s say you hashtag a word or phrase in your post, i.e. #RealEstate. Thanks to that hashtag, your post enters a stream with hundreds of other posts with that same hashtag. Meaning, anyone watching that stream or looking for specific information centered on that topic will easily find your post.
Add a Google+ Badge to Your Website
If you have your own website, it’s a sin in 2016 to not have visible social widgets. These are clickable icons that take you right to your social media pages. They take the hassle out of finding your social pages, making it easier to gain followers.
Managing Multiple Profiles
Managing multiple profiles on Google+ is very simple if you add all your accounts to one email address. Once you associate all your different profiles to that one email address it becomes very easy to switch back and forth between the different profiles from the Google+ interface. Don’t forget—you can always use a social media management tool like Buffer to switch profiles simultaneously.
Switching Profiles:
Click the icon on the upper right hand corner (Note: Your icon will be different from ours)
Once you click on that icon it will release a drop down menu of all the other profiles you have connected to your account
Now you are free to switch through whichever profile you deem necessary
Properly Engaging with Influencers
Engaging with influencers is a lot like engaging with influencers on any other platform—you need a strategy and you need to find the right influencers.
Do not:
Plus one (+1) everything they share
Try to directly reach out to them–it comes off creepy
Follow them on other networks without establishing a relationship with them
Do:
Occasionally +1, comment, and share their posts
Appreciate their content by sharing it in your communities
Share some of their posts 1-2 times a week
Thank them for sharing information that you find important
How and What to Post
Posting on Google+ seems a lot more complicated than it really is. Just keep in mind that you can post publicly, in a community, or in a group. To post you simply go to the page, community or group you want to post to.
Click on the pencil icon on the bottom right hand corner
Which will bring you to this screen
Here you type in the text of the message you want to draft in the ‘What’s new with you?’ section. If you are adding a link, click on the. If you want to add a picture (recommended) click on the camera icon. You can also add your location by clicking on the location pin.
What to Post
Just like any other network, you need to find your niche before posting blindly. Finding content that really resonates with your audience is half the battle. Like I said previously, try testing a few types of content to see what works best.
Don’t be afraid to use content with a lot of pictures like infographics. The more pictures the better. A very good post is a combination of clever content, great pictures and captive CTA’s (call to actions.) Once you find this balance roll with it and optimize your Google+ account to its full potential.
Thinking About Your Next Steps?
All of these social media platforms are great for connecting and getting your content out there. Each platform is a little different from the next, so don’t try to implement the same strategy throughout all of them. Finding your groove might take some time, but keep working towards it and tweaking your strategy to see what gives you the best results. Once you hit that sweet spot, roll with it.
You can learn more about what the Total Mortgage marketing team does for our loan officers by checking out other articles in this series, or by visiting our career portal.
Carter Wessman
Carter Wessman is originally from the charming town of Norfolk, Massachusetts. When he isn’t busy writing about mortgage related topics, you can find him playing table tennis, or jamming on his bass guitar.
This article originally appeared on Radical FIRE and has been republished here with permission.
When you’re planning on moving in with your partner, there are important money conversations you need to have before moving in with your partner.
I’m planning to move in with my partner after we complete our four-month mini-retirement, where we travel to Central America together. I assume that after we’ve spent so much time together abroad, we should be fine with moving in together. Just one thing that should be discussed is our finances.
Moving in with someone requires some financial logistics to be arranged. You need to discuss who is paying which bills, who is responsible for what, and more.
You know I love having money conversations, with my friends or with my family. I love to talk about money, that’s why I write on the blog. When no one wants to hear me talk about money for the gazillionth time, I’m just writing a blog post about my money thoughts.
Now onto the money conversations that you need to have before moving in with your partner. I’ve had all these conversations over the past weekend just to know we’re on the same page. I recommend you also have them when you’re planning to move in with your partner!
Money Conversation #1: Do We Share Our Stuff?
I mean, is everything that was once mine now ours? Is everything that was once yours now ours? It’s about the tangible things that are in the house, not including money. This is something to think about before moving in together.
If you have things that your partner also has, should you bring it? Or can you use one and get rid of the other one? If there are things that you don’t have yet but you know you need? Will you buy it together or will one of you buy it?
In relation to that, we get to the next point.
Money Conversation #2: What Will We Do If … ?
You don’t go living together with your partner unless things are serious between you. You need to consider the possibility of the relationship ending sometime very far in the future (OMG!). Breakups and divorces are a possibility that needs to be considered.
If you’re sharing things, what will happen after you stop being together? This is important for things like furniture and electronics, following the previous point. Will you share everything together, yes or no?
Related read: 10 Ways Divorce can Affect your Credit
Money Conversation #3: Is The Money Going to Be Ours, Too?
It’s important to think about if you’re going to join finances or not. It’s a very personal thing to think about and it will differ for everyone depending on their situation. If your partner makes a lot less, you can decide to pay more towards the fixed monthly payments. Or vice versa.
Just keep in mind that you should do something that makes you comfortable!
For me and my partner, we will not join finances. We’re having separate financial goals at the moment. I’m working towards my goal of financial independence and keeping a savings rate of over 80% consistently until we go on our travels. Meaning we’re not on the same page concerning money goals.
That’s okay for now. He will look for a job after we return and we will decide how we will go from there.
For our expenses, we will be splitting everything equally. I currently make more than my partner. The rent will be low enough for him to comfortably be covering half. If in any given month he cannot pay his portion of the rent or there are any other difficulties that won’t allow him to pay half of the rent, I will of course help him.
Related read: How Renting Can Impact Your Credit
Money Conversation #4: How Will You Deal with Changes?
What if I lose my job? Or my partner can’t find a job after graduation? What if we need to move for work or someone can get a promotion abroad? All scenarios can happen. It’s extremely difficult to think about what you want to do when you’re not yet in the situation. It’s a good thing to discuss these matters a little in advance.
If you don’t know now how you will deal with these kinds of changes, think about how you’re both dealing with changes until now? When you’re both quite relaxed under changes, it’s unlikely that those changes will put stress on your relationship. If you’re both sensitive to changes, it might lead to stressful situations and it might be good to address those things at this moment.
Money Conversation #5: What Do You Value Spending Your Money On?
Before you’re moving in with your partner, it’s important to talk about what you value spending money on? It can significantly differ among people. One person loves to go on big holidays, the other likes to drive their dream car, wants to have a big space to live in, or likes to have the latest tech gadgets. It’s good to know what they value.
Before you’re moving in together, it’s important to understand what they value and what is important to them. The habits they have around the things they value may have an impact on your joint life together.
My partner loves playing games and spends a great deal of time playing games both online and offline. He used to spend a good amount of money on getting new games, getting new consoles, or updating his computer. Currently, he doesn’t spend too much money on those types of things, but it’s still something to keep in mind when you’re going to live together.
I used to buy a lot of clothes, but since getting on my clothing ban I haven’t bought any clothes. On the contrary, I’ve sold a lot of stuff around the house when I decided decluttering was the way I wanted to go. I won’t say I’m exactly a minimalist, but I’ve gotten rid of certain habits and I’m starting with a clean slate when I’m moving in with my partner.
When we’ve talked about this point, he also asked me to give away/throw out all of the stuff I don’t use anymore. That way, we can start fresh when we’re moving in together, instead of just moving all my stuff simply from one place to another.
It’s good to know what are the things that you might want to spend more money on, that you want to treat yourself on. For me and my partner that’s both the same thing: traveling. It’s important to know when money gets saved towards that goal and how much money will go towards that specific goal.
Money Conversation #6: Where Do You Want to Go?
It’s important to discuss where you want to go in life? I would like to know how temporary our living situation will be. Are you or your partner already planning for a different job, relocation, or promotion? Do you want to have a family? Do you want to live in your city apartment with one bedroom, or do you want a big house in the countryside with a huge garden and two dogs?
You can address many questions in order to address where you both want to go.
When we started dating, I told him I would go to the USA for five months shortly after. I am a dreamer, I love to think about what I want to do in my life and imagine where my life might be going. I already have some of my dreams about starting my own business, traveling, working abroad, and financial independence / early retirement. When I noticed our goals are compatible, even a few years down the line, that gives a huge boost to your relationship up until that point.
Relationships require a serious amount of honesty, openness, and communication. You’re a team that will figure everything out that will be thrown at you, you’re in this together.
If you decide to file for bankruptcy, you must next decide which type of bankruptcy is right for you. Most individuals have three options, and understanding Chapter 11 vs. Chapter 13 vs. Chapter 7 is important in making the right decision.
Bankruptcy can be complex, and even a small mistake in how you file can substantially change the outcome of your case. It’s typically a good idea to consult an experienced bankruptcy lawyer before you file a bankruptcy petition. However, we’ve provided some basic answers below to the question, “What is the difference between Chapter 7, 11, and 13 when it comes to bankruptcy?”
In This Piece
Understand the Types of Bankruptcy
Bankruptcy is a way to reorganize your debts or get your debts dismissed because you’re insolvent. “Insolvent” is simply a financial state where you can’t pay your bills—usually because your debts outpace your income.
People can end up in this situation for a number of reasons. It may be that you lost your job or had reduced income—job losses due to the COVID-19 pandemic are just one example of when this can happen. In other cases, people have unplanned expenses such as medical bills that can put them over the edge financially. Bankruptcy does have some benefits, such as potentially putting a stop to wage garnishments or foreclosures.
Regardless of how you ended up in this position, it’s important not to jump immediately to bankruptcy. Consider all of your options and speak with an experienced bankruptcy attorney to understand whether bankruptcy will help you.
How Do You Know Which Bankruptcy Type is Right for You?
This is a complex personal or business finance question. Consider talking to an attorney to understand your financial and legal situation. An experienced attorney can quickly apply means tests and other information to your case to help you understand what your options are.
What Is Chapter 11 Bankruptcy?
According to the United States Courts, individuals and business entities can enter into Chapter 11 bankruptcy. Typically, this type of bankruptcy is a reorganization of a business. Through the bankruptcy, the debtor restructures and then creates and implements a plan to pay back creditors.
The plan must be approved by a Trustee appointed by the court. The Trustee is typically in charge of implementing and overseeing the plan, ensuring that the business has the income and resources to follow through with it. Once the plan is completed and confirmed, any remaining debts under the bankruptcy are discharged.
This is an extremely simple summary of how a Chapter 11 bankruptcy works. In reality, they can take years and involve numerous legal proceedings on behalf of the person or business filing as well as the Trustee and creditors.
What Is Chapter 7 Bankruptcy?
The main difference when it comes to Chapter 7 vs. Chapter 11 bankruptcy is that Chapter 7 is a liquidation plan. That means there’s no repayment plan associated with a Chapter 7 bankruptcy.
When you file Chapter 7, you typically agree to liquidate your assets to pay off as much of your debt as you can. The remaining debts that are part of your bankruptcy are dismissed.
Whether or not you can file for this type of bankruptcy is determined by income. If your income is below the median for the state you’re filing in, you can probably choose Chapter 7 bankruptcy. If your income is above the state minimum, you must pass a “means test.” A bankruptcy attorney can quickly apply these tests to help you understand whether you meet eligibility for Chapter 7.
You don’t have to give up everything you own in a Chapter 7 bankruptcy, though. You may be able to keep exempt assets, which can include certain personal belongings. You may also be able to keep your home, a car, and other items, even if you owe money on them, if you can continue to make timely payments on those debts.
Again, bankruptcy is a complex process and what you can keep and how your proceeding goes is based on a variety of factors. Consult an experienced bankruptcy attorney to find out more about your individual situation.
What Is Chapter 13 Bankruptcy?
Chapter 13 bankruptcy may sound similar to Chapter 11 because these both involve repayment plans. But when it comes to Chapter 11 vs. Chapter 13, the biggest difference is that Chapter 13 allows someone with regular income to make an adjustment to how they pay back some debts.
Chapter 13 may be an option for individuals who fail the means test for Chapter 7. Typically, Chapter 13 bankruptcy works for people who have stable income to make some payments on debts but they don’t have enough income to pay all the debts as currently structured.
The individual submits a repayment plan to the court. This plan must be approved by a bankruptcy court Trustee. The Trustee is also typically tasked with making payments under the plan, so the individual pays the Trustee. The Trustee’s office then pays various creditors.
Usually during a Chapter 13 you only pay off part of your debts. Priority and secured debts, such as taxes or auto loans, are paid in full. But unsecured, nonpriority debts, such as medical bills and credit card debt, are only partially paid. If you work through your Chapter 13 repayment plan successfully, the remaining debts are dismissed at the end of the repayment plan. That can take three to five years.
Should You File for Bankruptcy?
Only you can decide if bankruptcy is the right choice for you. In most cases, you should consider all your other options and ensure there really is no way to feasibly pay your debts as you agreed. Consider the factors below to determine which type of bankruptcy might be right for you. Then, talk to an attorney to find out more about each option.
Should You File for Chapter 7 Bankruptcy?
What is your income? Not everyone qualifies for Chapter 7 bankruptcy. You have to pass what’s called a “means” test, and you usually don’t pass it if you make more than the median income of same-size households in your state.
Have you filed for bankruptcy before? If it hasn’t been long enough since the last time, you may not be able to file.
What type of debt are you dealing with? Most, but not all, debt can be discharged in a Chapter 7 bankruptcy. If you’re trying to deal with debt that isn’t dischargeable, it may not be worth filing Chapter 7.
Do you want to keep your property? Some property may be exempt, such as your home or a car you need, but you may not be able to keep the same property in a Chapter 7 that you could keep in a Chapter 13, for example. Definitely talk to your bankruptcy lawyer about which property you want to keep and whether it’s possible.
Should You File for Chapter 13 Bankruptcy?
You’ll need to ask all the same questions you’d ask when considering Chapter 7 bankruptcy to find out if Chapter 13 is right for you. You also need to consider whether you have enough income to make some repayment toward your debt. In a Chapter 13 bankruptcy, you restructure your debts and pay some of them over 3 to 5 years before the rest are discharged.
You should also ask yourself if you have the discipline to make the monthly payments to the trustee and follow other rules set by the court. You typically can’t apply for most types of credit, including a mortgage, auto loan or significant personal loan, without getting the court’s approval if you’re in the middle of a Chapter 13 bankruptcy, for example.
Should You File for Chapter 11 Bankruptcy?
Do you have your own business and need to include business debts in your bankruptcy? You might want to consider a Chapter 11 over a Chapter 13. Chapter 11 may also be an option for individuals or couples who have too much debt to qualify for a Chapter 13. Otherwise, all the other questions above apply here, too.
The Main Differences Between the Types of Bankruptcy
To better understand the main differences between Chapter 7, 11, and 13 bankruptcy, consider the table below.
Chapter 7
Chapter 13
Chapter 11
Type of bankruptcy
Liquidation
Reorganization
Reorganization
Income requirements
Yes — can’t make above the median for same-size households within the state
Yes — must have enough income to make the repayment plan viable
Yes — must have enough income to make the repayment plan viable
Can individuals file?
Yes
Yes
Yes
Can businesses file?
No
Only sole proprietors
Yes
How long does it take?
A few months
3 to 5 years
1.5 to 5 years
Debt limitations
n/a
Combined secured and unsecured debts must be less than $2,750,000
n/a
Who Can File for Each Type of Bankruptcy?
In addition to income and debt requirements, each type of bankruptcy has limitations on which individuals or entities can file.
Chapter 7
Chapter 13
Chapter 11
– Individuals – Married couples
– Individuals – Married couples – Sole proprietors
– Individuals – Married couples – Sole proprietors – LLCs – Partnerships – Corporations
What Happens After You File for Bankruptcy
The first thing that happens when you file for bankruptcy is that the automatic stay goes into place. This is a protection that requires creditors to cease all collection efforts until the bankruptcy process can be completed. It’s a powerful protection. For example, even if you’re in the middle of a home foreclosure, the automatic stay can stop that process so you can work through bankruptcy to keep your home.
Once the petition is filed with the court, hearings are set and all creditors included in the bankruptcy are notified. They do have the option of responding to the bankruptcy if desired. You’ll also need to attend the first hearing in your case to testify, under oath, to the truth of everything documented in your petition.
If you’re filing a Chapter 11 or Chapter 13 bankruptcy, you’ll need to file a repayment plan, get approval for it and follow through on it. Once the bankruptcy process is completed successfully, your remaining debts can be discharged.
How Does Bankruptcy Impact Your Credit?
Any type of bankruptcy can impact your credit. It’s a negative item that stays on your credit report and drop your credit score for up to 10 years, depending on which type of bankruptcy you file.
But the truth is that by the time most people get to bankruptcy, they’ve already missed numerous payments and may be in collections with one or more accounts. If this is the case, bankruptcy doesn’t usually drive your credit score much lower than it already is. And there’s a chance that you may see your credit score begin to climb again after bankruptcy as you make timely payments on debts and are better able to manage your finances.
Chapter 11, Chapter 7, or Chapter 13—these are all huge financial and legal decisions. Each comes with its own pros and cons, and it’s important to handle a bankruptcy correctly if you do decide this is the way you want to go. So, talk to a lawyer and get the information you need to make the best decision in your case.
Chapter 7 is removed 10 years after the date the petition was filed.
Chapter 13 is removed 7 years after the date the petition was filed.
Chapter 11 is removed 10 years after the date the petition was filed.
Want to keep an eye on your credit report to understand when negative items fall off it as you’re working to rebuild? Consider signing up for ExtraCredit.
Options Other Than Bankruptcy
Before considering bankruptcy, research other options to help manage your debt. You might find other avenues that are less complex and not as impactful to your credit reports. They can include:
Debt consolidation that reduces how many bills you deal with each month and may create a monthly payment situation that works better for your budget
Debt counseling that brings in professionals who can help you negotiate with your creditors for better terms and manage your money better to make ends meet
Selling property so you can pay off debts that are beyond your current budget
Increasing yourincome with a second job or side hustles so you have more money to pay your debts
Ultimately, whether bankruptcy is right for you is a decision you must make yourself. Start with the information above to gain a brief understanding of your options, and reach out to an attorney to help you understand how these details might apply to your case.
The Impact of COVID-19 on Bankruptcies
Bankruptcies are still proceeding in the wake of the coronavirus pandemic. You may find that hearings related to cases are being handled via phone or web conferencing and not in person.
If you’re making payments on a Chapter 11 or Chapter 13 case and have been impacted financially by the pandemic, you should contact your attorney as soon as possible. They can help you understand the best next steps, which might include filing motions in your case to alter your payments temporarily.
The CARES Act also provides some modifications to how certain elements of bankruptcies are handled. It ensures federal stimulus payments aren’t considered disposable income, for example, and provides Chapter 13 debtors a path to seek modified payment plans if their income is impacted.
Looking for jobs where you work alone? If you’re an introvert or simply want minimal human interaction, here are 40 ideas.
Looking for the best jobs where you work alone? If you’re an introvert or simply want minimal human interaction, here are 40 ideas.
With there being so many different types of jobs out there nowadays, more and more people are looking for jobs where they can be by themselves, away from the busy office or customers. They find comfort in jobs where they can do tasks on their own, letting them really concentrate and do well in what they do best.
For me, I have worked mostly alone for over a decade now, and I wouldn’t change it for the world. I enjoy the flexibility of working on my own and having less stress.
Jobs that let you work this way are usually appealing to introverted individuals, those who like a calmer setting, or people who just work better with more independence.
Knowing which jobs let you work alone is really important for those who want to find the right mix of being on their own and getting things done well.
Top Jobs Where You Work Alone
There are 40 jobs where you can work alone listed below. If you want to skip the list, here are some jobs that you may want to start learning more about first:
Benefits of Jobs Where You Work Alone
More and more people are looking for jobs where they can work alone, and I get it! I have been working mostly alone for over a decade and I really love it.
After all, a person spends so much of their time working, so you might as well like what you’re doing. If you’re an introvert, or if you like working by yourself, there are jobs where you can do just that.
Some of the positives of working alone include:
Less stress if you’re an introvert – If you’re an introvert, then you may feel stress when working with other people, such as coworkers and customers.
Getting more stuff done in less time – Working alone may mean that you can complete your tasks faster because there are fewer distractions.
Having a more flexible schedule – Some jobs where you work on your own sometimes let you choose when you want to work, as long as you get the work done.
If you’re looking for jobs where you work alone, think about what you’re good at and what you enjoy (and also think about what you don’t like!).
40 Jobs Where You Work Alone
Below are 40 jobs where you can work on your own. The jobs below range from earning a part-time to a full-time income too.
1. Proofreader
Proofreaders check and edit written content for errors and inconsistencies, and this job requires strong attention to detail and excellent grammar skills.
If you’re good at paying close attention to details, then proofreading could be an ideal work-alone job for you.
Authors, website owners, and students often hire proofreaders to improve their work. There’s a high demand for proofreaders, and you can find jobs through many different platforms.
Even the most skilled writers can make mistakes in grammar, punctuation, and spelling. That’s why hiring a proofreader can be very helpful for pretty much anyone and everyone.
If you want to find online proofreading jobs, I recommend joining this free 76-minute workshop focused on proofreading. In this workshop, you’ll learn how to begin your own freelance proofreading business.
Recommended reading: 20 Best Online Proofreading Jobs For Beginners (Earn $40,000+ A Year).
2. Virtual Assistant
One of my first side jobs was as a virtual assistant and it was a fun and flexible way to earn income. While you do have a boss when you are a VA, a lot of the tasks that you do will require you to take charge and complete them by yourself in your own home.
A virtual assistant is someone who helps people with office tasks from a distance. This could be from your home or while you’re traveling. It might include things like replying to emails, setting up appointments, and managing social media accounts.
This job can pay you more than $50,000 each year.
If you want to find part-time or full-time virtual assistant jobs, I recommend joining the free workshop called “5 Steps To Become a Virtual Assistant“.
Recommended reading: Best Ways To Find Virtual Assistant Jobs
3. Bookkeeper
Bookkeepers are people who keep track of all the money-related things for businesses such as writing down sales, keeping a record of expenses, and making financial reports.
This is a job where you can work alone and a typical salary is $40,000+ each year. Plus, you’ll mainly be dealing with numbers and not people.
You can join the free workshop that focuses on finding virtual bookkeeping jobs and how to begin your own freelance bookkeeping business by signing up for free here.
Recommended reading: How To Find Online Bookkeeping Jobs
4. Blogger
Blogging is a great way to make money while working on your own. It’s one of the reasons I really enjoy it, haha! I get to work by myself, for myself, and I can pick the projects I want to work on.
As a blogger, you write content for others to read online. You get to choose what you want to write about as well as how you want to make money blogging because there are so many different options (like affiliate marketing or displaying ads).
You can begin a successful blog about a specific topic like finance, travel, lifestyle, family, and many others.
Blogging is my main source of income, and it has completely transformed my life. I have the freedom to travel whenever I want, set my schedule, and be my boss.
Since I began Making Sense of Cents, I’ve made more than $5,000,000 from my blog. I earned this money by working with companies through sponsored partnerships, affiliate marketing, display ads, and selling online courses.
Learn more at How To Start A Blog FREE Course.
5. Delivery Driver
Delivery drivers pick up and drop off packages. And, they get to work by themself most of the time as they are in the vehicle alone.
A delivery driver may drive a car, truck, or even a bike, depending on the company they work for. They don’t usually have a boss watching them all day nor have to deal with very many customers for long periods.
6. Book Reviewer
Book reviewers read books and share their thoughts in book reviews.
There are websites where you can get paid for sharing your thoughts about books and you may earn money through PayPal or a bank transfer, and sometimes you get to keep the book you reviewed.
They don’t just want positive reviews either, they want to know what you really think! You see, authors and publishers like to send out free copies of their books so that they can get honest opinions. Just like us, they know it’s helpful to read reviews before deciding if a book is worth the time.
Some sites that pay for book reviews include Online Book Club, Kirkus Media, and BookBrowse.
Recommended reading: 7 Best Ways To Get Paid To Read Books
7. Deliver RVs or Cars
You can earn money by traveling across the country and delivering vehicles for people and dealerships. Sometimes you’ll be towing the vehicle, and other times you’ll be driving it.
If you want a job with minimal human interaction, this can be a good one to look into as you are mostly by yourself. You simply pick up the vehicle, drive by yourself, and then drop it off.
For this job, you need to have a clean driving record. Those who do this type of work can earn around $300 to $400 (or much more!) for each vehicle they deliver. It depends on the distance they are traveling and what is being transported.
8. Digital or Graphic Designer
A graphic designer is someone who creates designs for others, such as people and businesses.
As a digital designer, you may be making things like images, printables, planners, t-shirt designs, calendars, business card designs, social media graphics, stickers, logos, and more.
Recommended reading: How To Make Money As A Digital Designer
9. Pet Sitter and Dog Walker
Pet sitters and dog walkers take care of pets while pet owners are away, such as on vacation or in the hospital. Some of the tasks include feeding, taking dogs for walks, and playing with them.
You might have pets come to your home or you can go to their owner’s place (this is something that is agreed upon beforehand). Dog walkers earn around $20 for every hour walking a dog. Looking after someone’s pet overnight can earn a person around $25-$100+ or even more each day.
I have personally paid a person to watch my dogs overnight in their home $100 a day. She was so wonderful too and my dogs loved her.
Now, with this job, you’re not working entirely alone, because you will be with pets. But, they can be great friends and companions!
Rover is a company you can sign up with and list your dog walking and pet sitting services.
10. House Cleaner
House cleaners make sure homes and businesses are nice and clean. They might work alone or with a small group. They can earn between $25 to $50 an hour for cleaning for others.
You can work for a cleaning company, but you’ll likely make more money if you have your own business.
Starting this kind of business isn’t expensive because you likely already have the cleaning supplies you need. You can advertise your services on Facebook, tell your friends and family, or make an account on Care.com.
11. Transcriptionist
An online transcriptionist’s main task is to listen to video or audio files and then type out everything that is being said, a process known as transcribing. The aim is to accurately write down what is heard, without any mistakes in spelling, grammar, or punctuation.
There are many different types of transcriptionists as well – legal, general, and medical transcriptionists.
This job requires strong typing and listening skills, and you can work from home all by yourself.
Online transcriptionists earn around $15 to $30 per hour on average, with new transcribers on the lower end of that.
A helpful free resource to take is FREE Workshop: Is a Career in Transcription Right for You? You’ll learn how to get started as a transcriptionist, how you can find transcription work, and more.
Recommended reading: 18 Best Online Transcription Jobs For Beginners To Make $2,000 Monthly
12. House Flipper
House flippers buy, renovate, and sell properties for a profit. This job involves managing renovation projects, and you can work alone or with a small crew.
House flipping is when someone buys a property at a lower price, fixes it up (like painting, redoing the kitchen, and improving the outside appearance), and then sells it for more money to make a profit. This is done to make a quick return on the investment.
Recommended reading: 10 Best Books on Flipping Houses To Make Money
13. Grocery Shopper
Grocery shoppers buy groceries for people like you and me, offering a helpful service for those who don’t have the time or can’t shop on their own. You’ll work on your own and talk to clients through an app on your phone.
One service you can easily sign up with to become a grocery shopper is Instacart. This is a popular site for people who want to make extra money by shopping for and delivering groceries.
Instacart shoppers make money from a mix of base pay, tips from customers, and sometimes bonuses or rewards (like for finishing orders during busy times).
You can sign up here to get started as a grocery shopper with Instacart.
Recommended reading: Instacart Shopper Review: How much do Instacart Shoppers earn?
14. Affiliate Marketer
Affiliate marketers share products or services with their followers for a commission. You do this by placing a referral link on your website, blog, or social media (like Instagram). When people use that link to buy something, you then get a commission.
For example, if you share a link to a book on Amazon and someone buys it through your link, you make some money. Companies like Amazon want people like you to help them sell things, so they’re happy to work with you as it helps them.
If you get someone to sign up through your special link, the company gives you a commission for telling others about their product. It’s like a little thank-you for your help!
This is one of my favorite jobs where you work alone from home, and what I do full-time!
Click here to get Affiliate Marketing Tips – Free eBook.
15. Flea Market Flipper
Flea market flippers find underpriced items at flea markets, yard sales, and thrift stores, then resell them for a profit. This job requires a good eye for valuable items and the ability to research market value.
Finding items to resell may be one of the best jobs to work alone on this list because we all have things in our house we could probably sell. Plus, there are always things that you can buy for a low price and possibly resell for a profit.
If you are looking for work-alone jobs, this is a great one to look further into.
I recommend signing up for this great webinar, Turn Your Passion For Visiting Thrift Stores, Yard Sales & Flea Markets Into A Profitable Reselling Business In As Little As 14 Days, that will help you learn how to make money by flipping items as well.
16. Sell Printables on Etsy
Creating and selling digital printables on Etsy is a great way to work independently and earn money.
Making printables can also be a pretty hands-off job since you only have to create one digital file for each product, and you can sell it as many times as you like. It’s quite affordable to start because you only need a laptop or computer and an internet connection.
Printables are digital items that customers can download and print at home. They can include things like bridal shower games, grocery shopping checklists, budget planners, invitations, printable quotes for wall art, and patterns.
I recommend signing up for Free Workshop: How To Earn Money Selling Printables. This free training will give you great ideas on what you can sell, how to get started, the costs, and how to make sales.
17. Mechanic
Mechanics diagnose and repair vehicles, working independently or in small shops. Strong problem-solving skills and knowledge of automotive systems are important.
Being a mechanic is a job where you often work on your own. While they might work in a garage with other mechanics, they often have their own tasks to do. They need to be really careful and pay close attention to make sure everything gets fixed just right.
18. Dog Treat Baker
Do you really like dogs? If you do, here’s a way to work mainly alone and make an extra $500 to $1,000 or even more each month.
You don’t need to know how to bake beforehand, because you can learn this skill. You can make special treats like cupcakes, cookies, cakes, and more, all for dogs.
You can sign up for this free training workshop that shows how to start a dog treat bakery.
You can learn more at How I Make $4,000 Per Month Baking Dog Treats (With Zero Baking Experience!).
19. Amazon Seller
Selling items on Amazon is a job where you work alone (mostly) and don’t have to deal with customers face-to-face.
Even if you’re new to selling on Amazon, you can make money by selling household goods, books, electronics, and more.
If you’re interested in learning about starting an Amazon business, you can join this free training that will teach you how to sell products on Amazon and make around $100 to $500+ each day.
20. Stock Photo Photographer
Stock photo photographers work on their own, and this job can be done without talking to anyone for the most part. Almost all of the tasks can be done with just a camera and then uploading photos on a site.
Stock image sites are some of the most popular ways for photographers to sell their pictures. These are sites where customers can buy pictures for websites, TV shows, books, social media accounts, and more. There are stock photos that I have purchased within this blog post that you can take a look at to see an example.
One great thing about stock photo sites is that they can be a great form of passive income. You can take pictures, upload them, and earn money from an older photo for months or even years in the future. There is no need to talk to anyone as everything is online and mostly automated.
Some stock photo websites include Shutterstock, iStock, DepositPhotos, and Dreamstime.
Recommended reading: 18 Ways You Can Get Paid To Take Pictures
21. Social Media Manager
Social media managers post on social media accounts for businesses and their goal is to bring in new customers and help a business grow.
Social media managers may post a picture or a video of a product or the company, join in a viral trend to get more views (such as on TikTok), answer common questions from customers, and more.
This includes social media platforms such as TikTok, Pinterest, Instagram, Twitter, and Facebook.
Salary can vary, and this job can be done part-time or full-time.
22. Landscaper
A landscaper improves and maintains outdoor areas, such as by taking care of the lawn, planting flowers, or even renovating a whole outdoor area (such as to make it more enjoyable to sit outside and have company).
If you’re interested in jobs where you work alone outside, this is one to consider as you will be outdoors and working on your own a lot. Customers may talk to you occasionally, but you are mostly by yourself.
Landscapers work at houses, apartment complexes, businesses, or somewhere else.
23. Data Entry Clerk
Data entry clerks enter, update, and check information in databases or spreadsheets. They type information such as numbers and names into computers to keep things organized and recorded.
This job can sometimes be done remotely and alone, with minimal supervision or interaction with customers.
Data entry jobs typically pay around $15-$20 an hour.
24. Editor
Editors review and improve written content for clients and they usually work on their own as most of their time is spent editing content.
Their job is to read articles, blog posts, advertising, books, and more to make them better. They fix any mistakes in grammar or spelling and help the words flow smoothly.
Editors typically earn anywhere from $40-$60+ an hour.
25. Freelance Writer
Freelance writers write content for clients, such as blog posts, advertising, and more. Freelance writing jobs where you work by yourself are common as you’ll be given a topic to write about from the client, and when you are done you may be given some feedback (such as paragraphs to improve or add to). But, that is usually as much human interaction as you’ll get if you want.
You can find different writing jobs on platforms like Upwork and Fiverr, or even find clients on your own.
I was a freelance writer for many years before switching to working full-time writing here on Making Sense of Cents. It is a great career path where you can work from home mostly by yourself.
Recommended reading: 14 Places To Find Freelance Writing Jobs – (Start With No Experience!)
26. Translator
Translators convert written content from one language to another, requiring fluency in at least two languages. Freelance and remote opportunities are available.
If you know another language, you might be able to find a work-from-home job where you can earn money by reading books and translating them. Another option is to get paid for proofreading or editing translated books to ensure they read smoothly and accurately.
There are lots of places you can find translation jobs, such as UpWork, Babelcube, Today Translations, Ulatus, Fiverr, and more.
27. Computer Programmer
Computer programmers write and maintain computer software, often working alone on projects.
They use coding to tell computers what to do and create all sorts of things like apps, games, and websites.
28. Canva Template Designer
Creating and selling Canva templates online allows you to work alone.
A Canva template is like a ready-made design that you can use for things like making posters, Pinterest pins, ebooks, or presentations. It’s like having a helpful starting point if you’re not super good at designing things from scratch. Canva templates come with empty spaces where you can put in your own words and pictures and you can also change colors and fonts to make them just how you like. They’re really helpful for people who want their things to look nice without spending a lot of time on it.
Making and selling Canva templates can be a great way to earn extra money as you only need to create them once, and then you can sell them as many times as you like.
Recommended reading: How I Make $2,000+ Monthly Selling Canva Templates
29. Voice Over Actor
A voice-over actor is the person whose voice you hear but don’t see in YouTube videos, radio ads, educational videos, and more.
Voice-over actors many times work right from their own homes!
Voice actors don’t need experience for this job (eventually, it does help, yes). Instead, they need to have a voice that the company is looking for.
Recommended reading: How To Become A Voice Over Actor And Work From Anywhere
30. Truck Driver
Truck drivers are people who move things from one place to another. To do this job, truck drivers need a commercial driver’s license (CDL). This job often involves working by yourself for long hours.
The salary for a truck driver can depend on things like what kind of items they’re moving and the miles they have to drive. Usually, they can make between $45,000 and $75,000 or even more in a year.
31. UPS Driver
UPS drivers deliver packages to people’s homes and businesses. They do this mostly on their own, in their trucks by themselves.
UPS drivers make a good income and they earn about $30-$45 per hour or even more, depending on how many years they have worked at UPS and where they work.
32. Security Guard
Security guards protect property and/or people, and they usually work alone.
A security guard’s salary depends on things like where they work, how long they’ve been doing the job, and what exactly they have to do. Usually, they can make between $25,000 and $35,000 in a year.
33. Self-Storage Facility Owner
Self-storage facilities are where people store their belongings, like boxes of their mementos, vehicles, RVs, and more.
Owning a self-storage business can be a way to make money and run a business with low expenses, plus they typically only have a couple of employees.
Many of the times when I’ve been to a self-storage lot, it’s been just the owner or an employee of theirs working. There are almost no customers either.
Recommended reading: How To Invest In Self-Storage For Beginners
34. Laundromat Owner
Similar to a self-storage business, a laundromat typically does not have very many employees.
Running a laundromat can be a way to make money, with low costs, as most things are automated (the washer and dryer machines do all of the washing).
Recommended reading: Are Laundromats Profitable? How Much Do Laundromats Make?
35. Get Paid To Text
When getting paid to text, you will many times be talking to someone else, but it is all done through text messages.
Some jobs may include:
Text Therapy or Coach
Answering questions, such as if you are a mechanic, doctor, lawyer, veterinarian, home expert, appraiser, computer expert
Customer support
Recommended reading: 28 Ways To Get Paid To Text And Make Money
36. Survey Taker
Taking online surveys and answering questions for focus groups is not a full-time job, but it can be a way to make some extra money.
You share your thoughts and answer straightforward questions, and in return, you can receive cash or rewards such as Amazon gift cards.
The survey companies I recommend signing up for and the best-paying survey sites include:
American Consumer Opinion
Survey Junkie
Swagbucks
InboxDollars
Branded Surveys
Pinecone Research
Prize Rebel
User Interviews – These are the highest paying surveys with the average being around $60.
Recommended reading: 18 Best Paid Survey Sites To Make $100+ Per Month
37. Twitch Streamer
Twitch is a site where you can make money playing video games, talking online in a live stream, and more. A streamer may be able to make money from their own home and all alone. Yes, they do need to be live recording their life, but they are their own boss.
There are many ways to make money on Twitch such as with paid subscriptions, display ads, selling merchandise (like t-shirts and mugs), and more.
Some of the most successful Twitch streamers make hundreds of thousands or even millions of dollars each year, but, it’s important to know that most don’t earn much at all.
Recommended reading: How Much Do Twitch Streamers Make?
38. Litter Cleanup Worker
If you own a business, it’s important to keep your place clean and tidy. Nobody likes to see trash lying around, right?
That’s why some business owners are happy to pay for someone to clean up before their business opens for the day. A clean area makes the place look nice and welcoming for customers.
This business can be started all alone and earnings on average are about $30 to $50 for every hour you work. It’s pretty simple too. You’ll just need a broom, a dustpan, and some tools to help you pick up litter easily. It’s almost like taking a stroll while you work! Plus, you can choose when you want to do it, so it can fit nicely into your schedule.
Recommended reading: How I Started A $650,000 Per Year Litter Cleanup Business
39. Google Rater
A Search Engine Evaluator, also known as a Google Rater, is a person who looks at websites and blogs and gives them a score based on how good and helpful they are for Google.
You don’t need to be a tech expert or have a fancy background for this job. Google actually wants regular people, just like you, to rate websites. Plus, you can do this in your own language. Google works in lots of different countries, so you can help out right from where you are.
Recommended reading: How To Become a Search Engine Evaluator
40. Actuary
An actuary is a financial expert who helps businesses figure out and manage their money-related risks, such as for insurance, pensions, and investments.
They use mathematics and statistics to forecast what might happen and help companies make smarter financial decisions.
Actuaries can earn a good salary, and as they get more experience and pass more exams, they can make even more money. Depending on where they work and how experienced they are, actuaries earn average salaries of anywhere between $70,000 to well over $100,000 each year.
Frequently Asked Questions About Jobs Where You Work Alone
Here are answers to common questions about finding jobs where you work alone.
What are jobs with no interaction?What jobs allow me to work by myself?
Yes, there are jobs where you don’t need to talk to people a lot. For example, being a night shift security guard, a transcriptionist, or a stock photo photographer.
How can I work alone from home?
There are jobs where you can work alone at home such as being a blogger, a transcriptionist, or a computer programmer.
What are jobs where you work alone with no degree?
Many jobs don’t require bachelor’s or master’s degrees (a high school diploma will work for many on the list above) and offer the opportunity to work independently. Mowing lawns, painting houses, repairing cars, or walking dogs often don’t require formal education and focus more on skills and experience.
Which part-time jobs are best suited for solitary workers?
Many of the jobs in this blog post can be done part-time, such as any of the freelance jobs, house cleaning, dog walking, and taking surveys. That is one of the joys of many of the jobs above – you can choose your schedule.
What trade jobs can one perform independently?
Trade jobs that you can perform independently include carpentry, welding, or plumbing. These professions usually require specific skills or certifications but may offer opportunities to work alone.
Are there any tech jobs ideal for people who prefer to work alone?
Yes, there are tech jobs that can work well for people who want to work on their own such as web developers, software engineers, or data analysts. These roles usually involve solving problems and working independently, though there might be some instances where collaboration is needed from time to time.
What jobs can be done in isolation with no experience required?
Jobs such as house cleaning, taking surveys, and flea market flipping can be good places to start for entry-level jobs.
How can I find work-alone job opportunities near me?
To find work-alone job opportunities near you, try perusing local job boards, classified ads, or online sites like Indeed or LinkedIn. You can also network with people in your community or join online forums related to your interests to find jobs.
Jobs Where You Work Alone – Summary
I hope you enjoyed this article on jobs where you work alone.
These jobs are like a safe space for people who like being by themselves. It’s a place where you can really concentrate and do your own thing with low social interaction. Jobs where you work alone often appeal to introverts and individuals who require fewer distractions.
Jobs like writing, coding, and freelancing let you work on your own. Not everyone may like working alone, but for those who do, it can be a lot less stressful and overwhelming.
I have been working mostly on my own for years now, and I really love it!
Graduating college can come with a lot of implications and responsibility, and those associated with your finances are certainly no exception. On top of the need to get your career off the ground, you should also think about how this impending career and salary will help you get your relationship with your personal finances in good shape, as well.
Prior to college, you probably did not have any credit. And during college, if you weren’t using a credit card or participating in other practices that establish and build credit, you’ll basically be starting from scratch. This can be a great spot to be in because it sets you up to grow your financial reputation without having to rebuild it from any previous blemishes on your record. At this transitional and vulnerable time in your life, think about your future, and be sure to include those future thoughts in your decision-making so that you can (somewhat) effortlessly stay on track. This is some of the money advice college grads never get, but definitely should.
Student Loan Repayment
If you took out student loans to fund your education, you’re likely feeling a tad overwhelmed by the outstanding balance and impending payments to pay it all back. While this type of debt is sizable, it’s not something to fear to the point of disregard. So, many people use student loans to cover college costs, which is good news for you because there’s no shortage of tips on repayment strategies for you to consider.
Paying your monthly minimum each month is going to help you begin to establish credit. While it’s acceptable to follow this strategy, it might not get you where you want to be in terms of growing your credit score. If you can, think about ways to dedicate more money towards repayment each month so that your debt-to-income ratio can become more favorable to you, faster.
Read More: What is the Average Student Loan Debt?
A savvy way to accomplish this is through refinancing. Although you’re just starting the process of paying back your student loans, that doesn’t disqualify you from refinancing. The rates that were in effect when you took your loan out might be higher than they’re now, in that case, a refinance can shave years off your payments simply by decreasing your total interest. Your monthly rate will likely decrease as well, which means that potentially you can pay down principal faster if your budget that allowed for the previous, higher amount, is still manageable.
Get Professional Guidance
Like it or not, money is essential in life. While the amount you have doesn’t determine the level of importance, the simple fact that you need money to be able to get through life is undeniable. At this beginner stage, consider meeting with a credit counselor. These professionals can help you identify goals, discuss different strategies, and help you decide if it is right for you at this time.
Since this is likely your first time managing your money independently as an adult, and at this level, the habits you build now are probably going to be the ones that stick. Your credit score is sensitive but powerful. As you walk through various stages of life, that number is going to be what determines things like mortgage rates, car loans, and even your ability to start your own business even if that’s years from now.
Budget Appropriately
After having spent a few years scraping pennies together to split a pizza three ways with your roommates, you’re going to be tickled to receive that first job salary, and the paychecks that come along with it. But don’t get careless. Before you cash your first check, examine your finances, and set a budget for yourself. Some of the best budgeting methods are simple and straightforward, which is ideal for a beginner. A great piece of advice here is to continue to live as you did in college and operate on a shoestring budget as far as your extra money goes.
Paying your bills on time is going to help you improve your credit score at a steady and consistent pace, so you won’t want to fall behind. The occasional splurge is fine, but make this the exception and not the rule. It might not feel the most exciting or fun to dedicate your first job finances towards responsibility. However, if you put this into practice now, you’ll have to work at it less and less over time. Then, maintaining your good credit will be a natural consequence of your habits instead of something you have to consciously work at.
Related Read: Side Hustles for College Students
Use Credit Cards Strategically
One of the best ways to build credit is by using credit. Keep your momentum alive by applying for a credit card, one with perks that appeal to you, and terms that you can manage. You might not yet be able to qualify for a traditional credit card, but a secured credit card should be well within your capabilities. Your credit limit will probably be low, but that is ok. The point here is to get into the practice of using a card, and paying it off, on time and at least at the minimum, consistently month to month.
A credit card should work for you in terms of what you get back from it. Not all cards are created equal so definitely shop around before you just randomly pick one. Perks like airline miles and cash back are very popular places to start. If you take out a card and begin to use it and quickly notice that you’re not savvy enough to manage this responsibility yet, cut the card up. Closing credit accounts is one of the bad credit habits to avoid and can negatively impact your score. So you are better off cutting the card up, ceasing to use it, and continuing to pay down the balance without adding to it.
When you’re in college, you likely want to choose a major that will lead to a successful and enjoyable career. If you’re a business marketing major, you may wonder whether the education you’re getting now will pay off in terms of the type of job you’ll qualify for after you graduate, and what you can earn.
Here’s a look at what you can expect as a marketing major — both during college and after you graduate.
What Does a Marketing Major Learn?
As a marketing major, you will learn various aspects and strategies for promoting a company or product, creating brand awareness, and building relationships with customers.
You may study marketing tools like social media, content marketing, and advertising, as well as public relations, sales, marketing strategy, and consumer behavior.
Once you complete your degree, you should have a thorough understanding of how to employ these tools and tactics in the real world on behalf of your employer. 💡 Quick Tip: You can fund your education with a low-rate, no-fee private student loan that covers all school-certified costs.
Who Is It Good For?
If you’re still trying to determine the best college major and are considering marketing, here’s some insight into the type of person who might thrive in a marketing career.
If you’re curious about how brands connect with customers and find yourself analyzing ads in magazines and on television, you might be a natural marketer. Marketers are typically creative and good communicators; you’ll need that ingenuity to come up with innovative marketing campaigns to compete with others in a given industry.
Depending on the job you get after college, you may work with a team on campaigns, or you may be solely in charge of doing multiple different tasks on your own. Ideally, you’ll be excited and confident about sharing your ideas for projects.
If you’ve got an analytical mind, so much the better. You’ll be able to analyze data to better understand what types of marketing efforts are working to reach your audience and which aren’t.
Recommended: 20 of the Most Popular College Majors
Why Consider Marketing?
Marketing isn’t a trendy or even industry-specific career; it’s one that every brand on earth needs. As a result, there will likely always be careers in marketing. Because marketing is what propels a company to sell products or services, it has a return on investment, and that means that companies are willing to also invest in smart marketing professionals.
Everywhere you look, there’s marketing, from the product placement in your favorite television show to the daily Instagram posts from influencers that offer “sponsored content.” Being a part of this exciting field gives you the opportunity to shape how consumers connect with brands.
Recommended: How Do You Change Your Major?
What Jobs Can a Marketing Major Get?
So you’ve majored in marketing and now you want to know your career options. What does a marketing major do after graduating? And what professional goals can you set down the road, once you’ve had more experience?
Entry-Level Marketing Jobs
Depending on your specific interest in marketing, there are several paths you could take after graduation.
If you enjoy working with advertising, you could get work as a media buyer, who is in charge of purchasing ads, both digital and print, to achieve marketing goals. Average annual salaries can be as high as $80,195.
If you enjoy dabbling in different aspects of marketing, you could be a marketing coordinator. You might be a part of planning and launching marketing campaigns and events, managing email marketing, and writing content for different platforms. The national average annual salary is $51,283.
If you lit up in your public relations coursework, a public relations assistant might be a good first job. You’ll be tasked with creating press releases and pitch letters, and connecting with the media to get interviews and media coverage for your brand. Salaries vary, but the average is around $42,642 a year.
Recommended: Return on Education for Bachelor’s Degrees
Marketing Jobs for More Experienced Professionals
Once you have a bit of experience in your entry-level marketing job, you may be eligible for a promotion or could qualify for a more advanced role with a different company like the following ones.
A public relations manager has approximately six to eight years of experience working in PR. In addition to building relationships with journalists and influencers and securing media coverage for a brand, this role may also hire and manage other PR roles as well as writers and designers. The average salary for this role is around $62,810.
A marketing director could be a good goal after you build experience as a marketing coordinator and have five to 10 years of marketing experience. This role is involved in the planning of marketing activities, building a budget, and forecasting sales. You may oversee a marketing team, including internal staff and freelancers. The average salary for this position is approximately $141,490, but can vary widely.
Another option once you have one to five years of experience, specifically in sales, is as a sales manager. This role analyzes sales data to shape sales and pricing strategy and may train or manage sales staff. The average salary for a sales manager is $107,500.
Launching Your Own Marketing Business
You’re not limited to working for someone else in your marketing career; many professionals get experience under their belt by working for companies of all sizes, then decide to open their own business. That could be a one-person content marketing business run out of your home or a PR firm with office space and staff.
Starting your own business gives you the flexibility of working when you want, and to choose exactly the marketing, advertising, or PR services you want to specialize in. It does, however, require plenty of hard work and dedication: without the stability of a regular paycheck, you aren’t guaranteed to make a certain amount of money.
Recommended: Ca$h Course: A Student’s Guide to Money
What Can a Marketing Major Earn?
Understandably, you want some reassurance that what you’ll make in your career after graduating will help you quickly pay off any student debt and help you become financially successful.
Generally, students can expect to make the least right after graduating, since they’ll have little to no work experience. Salary expectations for entry-level marketing positions can vary based on factors like where you live and the industry you want to work in. Some companies may offer hiring bonuses or commission on top of that salary.
As you build experience, your salary will generally increase. Again, this will depend on your specific experience and accomplishments as well as the industry and company you work for. 💡 Quick Tip: Even if you don’t think you qualify for financial aid, you should fill out the FAFSA form. Many schools require it for merit-based scholarships, too. You can submit it as early as Oct. 1.
The Takeaway
Only you know whether marketing is a field that you will thrive in and enjoy being a part of, but suffice it to say that there is an opportunity to learn a wide range of marketing skills and career advancement potential if you’re willing to put in the work to climb that corporate ladder.
Of course, as a student, you’re still a long way from earning a sizable salary, and coming up with enough funds to cover the high cost of college can be challenging. Fortunately, no matter what you’re thinking about majoring in, you have a range of funding options, including grants, scholarships, federal work-study programs, and both federal and private student loans.
If you’ve exhausted all federal student aid options, no-fee private student loans from SoFi can help you pay for school. The online application process is easy, and you can see rates and terms in just minutes. Repayment plans are flexible, so you can find an option that works for your financial plan and budget.
Cover up to 100% of school-certified costs including tuition, books, supplies, room and board, and transportation with a private student loan from SoFi.
SoFi Loan Products SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.
SoFi Private Student Loans Please borrow responsibly. SoFi Private Student Loans are not a substitute for federal loans, grants, and work-study programs. You should exhaust all your federal student aid options before you consider any private loans, including ours. Read our FAQs.
SoFi Private Student Loans are subject to program terms and restrictions, and applicants must meet SoFi’s eligibility and underwriting requirements. See SoFi.com/eligibility-criteria for more information. To view payment examples, click here. SoFi reserves the right to modify eligibility criteria at any time. This information is subject to change.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
Today we are speaking with Leslie Heindel, the woman behind 365 New Orleans and Be New Orleans!
1. Who are you and what do you do?
My name is Leslie Heindel. I’m a 5th generation New Orleanian and have been a REALTOR since 2014. My niche market is single women, but I help all kinds of folks. I am super passionate about shopping locally and I’m very community focused.
2. What was your inspiration behind the 365 New Orleans campaign? Why the emphasis on artists?
I thought it would be a great way to highlight small businesses, artists, and non-profits in New Orleans and the metro area. I wanted people to know it was completely free and there were no gimmicks – because we had pushback when we started. People wanted to know what the catch was. Artists are self-employed and they are their own business. We have so many amazing artists in New Orleans that the project could have just been about them. However, not enough of them get exposure or know how to market themselves well. I say this as an opportunity to give them a shout-out.
3. How many days have you completed so far, and what are a couple favorite people/places?
Today (6/17) we are at Day 331. Oh god, so many of them are my favorites. Angela Grillo who is a dream reader was pretty amazing. I ended up hiring her and just think she’s supremely talented. Desmond Melancon is an artist who does hand beading. His work is so intricate and phenomenal. Mose, Mary, and Me makes pop-culture candles. I own so many of them and was excited to meet the creator. oh! And NOLA Sips. I saw a woman selling adult-beverages that looked like grown up Capri Suns outside of the Beyonce concert. I KNEW I had to track her down – and I did!
4. What’s the biggest surprise since you started?
The reception it’s received. Many of the featured people have told me they have gotten new clients and that was all I ever hoped for. Also, while I hoped it went well, I had so many supporters trying to help me get to the finish line.
5. How do you measure the ROI of your efforts?
There is no ROI because that’s not what this is about. While I have picked up some business from it – not everything is about making money. This was never about that. 365 New Orleans is about promoting our small businesses and shining the light on them – not me. I’ve paid a social media manager, I am throwing a party for all the participants. This is a project strictly coming from the heart.
6. What your advice to other agents/brokers considering taking this approach?
HAVE A GAME PLAN. This is a massive undertaking. Lots of people start and never finish. If you don’t think you have enough people and places for 365 days – then do it another way. Do one a week then! If I could turn back time, I would have had a month worth of interviews before starting. I only had 7 interviews completed when I launched. It was a huge gamble, but it paid off.
If you don’t have the time to post everyday, get a social media manager. It was the best money I ever spent.
Thanks to Leslie for taking the time to provide color on her efforts. If you’d like to learn more, contact her at [email protected] or on Linkedin here.