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Apache is functioning normally

April 8, 2024 by Brett Tams

Want to learn how to make $5 fast? If you need to make $5 as quickly as possible, there are ways to make that happen. Many of the ways to make $5 dollars fast on today’s list are quite easy and can even be stacked together so that you can make extra income many times…

Want to learn how to make $5 fast?

If you need to make $5 as quickly as possible, there are ways to make that happen. Many of the ways to make $5 dollars fast on today’s list are quite easy and can even be stacked together so that you can make extra income many times over and over again.

Whether you’re in need of a little extra cash or just looking for a way to supplement your income, various strategies can help you earn that money quickly.

17 Ways To Make $5 Fast

Want to learn how to make $5 fast? Here are the best ways to make $5 right now and every week.

1. Take surveys online

Earning $5 a day just by answering surveys is possible and is an easy way to make money from home.

When I was paying back my student loans, I filled out many surveys every week. I did this before work, during lunch, or after work. It was easy because I could do it whenever I had some free time.

Survey companies give you money for answering surveys, watching videos, and trying out products. Sometimes, they might even give you free products to test. And the great thing is, signing up with these companies doesn’t cost anything!

Some of the paid online survey companies I recommend are:

The sites above usually pay out via cash rewards to PayPal accounts or gift cards to places like Amazon.

Here are 11 Paid Online Survey Sites if you want to learn more.

2. Get rewarded for grocery shopping

When you go shopping for groceries, you can earn money back just by buying the things you need. My favorite way to do this is with the Fetch Rewards app.

Fetch Rewards is an app you can use on your phone to get free rewards just by scanning your grocery receipts. Whenever you go grocery shopping, make sure to keep your receipt. Then, after you’re done shopping, use the Fetch app to scan your receipt. This will earn you points for every purchase that has an offer tied to it.

I personally use this app every time I shop for groceries. It only takes me less than a minute to scan my receipt from the grocery store. Doing this lets me earn points easily, which I can then use for free gift cards.

Recommended reading: 21 Ways To Get Free Money Now

3. Play games and earn

If you enjoy playing games, you can actually make money from it! That’s right, you can earn real cash by playing games on your phone or computer!

Game apps are able to pay you real money because they make their own money from ads and purchases within the app. Then, they give you a portion of what they earn to keep you interested in playing their games.

Below is a quick list of popular game apps that pay real cash:

KashKick
Swagbucks
InboxDollars

Other popular games to make $5 fast include Mistplay, Blackout Bingo, and Solitaire Cube.

4. Watch videos and ads for money

Companies pay people to watch ads to understand what consumers want and if they would buy their product. This helps companies make their products better and possibly earn more money. They also pay people to watch their ads to get more attention for their company.

Some companies that pay you to watch videos and ads include:

Watching videos for cash is easy. You sign up for these websites, choose videos or ads to watch, and start earning. Most videos pay just a few pennies, but there are some that may pay a few dollars.

Recommended reading: 13 Ways To Get Paid To Watch Ads

5. Shop through cash back sites

When you shop online, you can actually get some of your money back by using cash back sites. It’s kind of like getting a discount, but instead of saving money right away, you get some money back later on. I use cash back sites and apps almost every time I shop online – it’s a simple way for me to get some extra cash for free.

One popular app is Rakuten. When you shop through them, they give you a percentage of your purchase back. It’s super easy too. Start by making a Rakuten account, find your store on their site, and shop like normal. Rakuten sends the cash back to you afterward.

Some popular cash back apps and sites that I like include:

Rakuten – You can receive checks or PayPal payments. By shopping online through their website, you earn a percentage of your spending back. They offer deals for many stores and retailers, giving you more opportunities to get money back on your online purchases.
Swagbucks – You can earn points that you can exchange for cash or gift cards.
Capital One Shopping – Capital One Shopping looks for better deals and coupons. You earn credits from purchases, which you can exchange for gift cards. I personally have this browser extension installed on my laptop, and it’s very easy to use.

6. Join a focus group

Participating in a focus group is a good way for you to make $5 fast – or even much more! A focus group is a small group of people who give their opinions about new products or services. Companies use these opinions to make their products better.

I have participated in a focus group that paid me about $400 for just 75 minutes of my time. Although that’s more than usual, most focus groups typically pay anywhere from around $50 to over $100 per hour. How much you get paid can vary a lot based on how long the study is and what it’s about, but there are definitely some studies that pay more than others.

One focus group company that I recommend is User Interviews. User Interviews recruits people like you and me to answer surveys and share your feedback.

7. Earn with cash back credit cards

If you’re looking to make a quick $5, your cash back credit card may be a way to make some extra money. If you have a credit card, you’re probably earning points just by spending money as you normally would.

You can convert your points into cash back with rewards credit cards. Here’s how it works: Every time you use your credit card to make a purchase, you earn points as a reward for spending money.

I have rewards credit cards, and I earn points every time I shop or pay a bill, without doing anything extra. I just handle my bills and expenses as usual. In fact, I recently signed up for a new rewards credit card with an amazing sign-up bonus worth over $800.

Recommended reading: Best Rewards Credit Cards

Note: Please make sure that you use credit cards responsibly and that you are aware of any annual fee that your credit card may charge.

8. Sell unused gift cards

If you’ve got gift cards lying around that you’re not going to use, you can turn them into cash quickly. You can easily sell your unused gift cards online and make that $5 or more, fast!

The top places to sell your gift cards include Raise, CardCash, CardSell, ClipKard, Gameflip, GiftCash, and Check Into Cash. If you want to get the most money for your gift card, it’s a good idea to check out different websites and see how much they’re willing to offer.

Recommended reading: 7 Best Places To Sell Gift Cards For Cash

9. Sell things you don’t need

One easy way to make $5 fast (or more) is to sell things around your home that you do not need. Everyone has things they no longer need or use – old books, clothes, or electronics. These items can turn into quick cash.

There are many places you can sell your old stuff too, such as eBay, Facebook, Mercari, Craigslist, or even hosting your own garage sale.

Recommended reading: How To Get $20 PayPal Now

10. Return something that you’ve recently bought

There may be a good chance that you have bought something recently that you don’t actually need. If you need $5 quickly, then finding something to return may be an easy way to make some extra bucks.

To make $5 quickly by returning an unused item, first, find items you don’t need anymore and make sure they’re in new condition with the original packaging and receipts.

Check the store’s return policy to make sure you can return the items and to know the time limit for returns. Then, go to the store’s customer service or returns desk with the item and receipt.

Follow the return process, and you’ll get your refund either in cash, credited back to your original payment method, or as store credit. If you can’t return the item, think about selling it online for fast cash.

11. Deliver food and groceries

If you want to make $5 fast, delivering food and groceries is a smart pick with companies like DoorDash, Instacart, and Uber Eats. All you need to make money with delivery services is a way to get around and a phone to accept orders.

When you deliver food, you pick up meals from restaurants and grocery stores and take them to people’s homes:

Instacart – This has a focus on grocery runs. You’re the one who goes up and down the aisles, grabbing what people need. You check the list, find the items, and deliver them.
DoorDash – It’s more about restaurant meals. You grab takeout orders and make sure they get to the customer while the food’s still hot.
Uber Eats – This is similar to DoorDash. It’s all about quick trips from the restaurant to the customer’s place.

You usually get more than $5 for each delivery. Plus, customers might tip you for your service too.

12. Freelance your skills online

To make $5 quickly by freelancing your skills online, first, figure out what you’re good at, like writing, graphic design, programming, or something else.

Then, sign up on freelance gig websites like Upwork, Fiverr, or Freelancer, and sell your services at a reasonable price, like $5 for a small task.

You can also share your services on social media, forums, or online groups to find clients fast.

13. Open a new bank account

Many banks have sign-up bonuses for new customers, such as for $100 or more for depositing a certain amount of money into a new bank account or for setting up direct deposit to your new bank account.

14. Test websites and apps

If you’re looking to make a quick $5, testing websites and apps could be a great option for you. Websites like User Testing will pay around $10 for you to test other people’s websites.

When you test websites, you pay attention to things that don’t work smoothly or might be confusing. Your feedback is valuable because companies want real opinions to improve their websites, not just simple answers.

15. Dog walking or pet sitting

Dog walking is a fun way for you to make some extra cash with a side hustle (this could be a full-time job as well!). If you enjoy spending time with dogs and love being outdoors, this could be your quick $5 or even more!

Dog walking apps like Rover allow you to list your dog walking services. This is an in-demand service where you may be able to earn $15 to $30 an hour walking dogs.

Recommended reading: 22 Ways To Make Money Online Without Paying Anything

16. Get paid to recycle

Recycling isn’t just good for the planet, it’s also a way to put a little extra cash in your pocket. You’re probably used to tossing your plastic bottles and aluminum cans into the recycling bin without a second thought, but did you know that some places will pay you for these items?

The first step is to look up a local recycling center that pays for recycling. They may list out which items they’ll pay for and how much they offer. Items like glass bottles, aluminum cans, and scrap metal are usually in demand.

17. Save money in a high yield savings account

A high-yield bank account is a low-risk method to make extra cash.

These types of savings accounts earn a higher interest rate than a regular savings account, so your money grows faster.

You will want to make sure that you pick a trustworthy bank and check the interest rates regularly because they can go up or down. Some people move their money into high-yield savings accounts often so that they can get the highest interest rates.

I personally use Marcus by Goldman Sachs as they have a very high rate. You can get up to 5.40% at the time of this writing through a referral link bonus. According to this high-yield savings account calculator, if you have $10,000 saved, you could earn $540 with a high-yield savings account in a year. Whereas with normal banks, your earnings would only be $46.

Frequently Asked Questions

Below are answers to common questions about how to make a quick $5.

What easy tasks can I do right now to earn $5 quickly?

If you want to make $5 right now, then I highly recommend finding items around your home to sell. This could be clothing, an old cell phone that you no longer use, or even furniture.

How can I sell my stuff fast for some quick cash?

To sell your things fast, list your stuff on sites like eBay or Facebook Marketplace. You’ll want to take good pictures, write clear descriptions, and set fair prices. You can often sell items you no longer need within a day or two, sometimes hours.

Can I get paid for doing online surveys or playing games?

Yes, you can! Websites like American Consumer Opinion pay you for completing surveys, and apps like Swagbucks reward you for surveys, playing games, referrals, and more. By signing up and participating, you can reach that $5 mark in no time.

How can kids or teens make $5 fast with little effort?

Kids and teens have lots of options such as doing household chores for a neighbor or having a small garage sale. I recommend reading 23 Best Business Ideas For Kids to learn more.

How can I make $5 in passive income?

My favorite way to make a quick $5 in passive income is to save money in a high-yield savings account. These types of savings accounts earn a higher interest rate than a regular savings account, so your money grows faster.

How To Make $5 Fast – Summary

I hope you enjoyed this article on how to make $5 quickly. As you can see, there are many ways to make $5 fast, and many times from home.

Examples of how to make $5 fast include taking online surveys, using grocery receipt apps, playing games online, getting cash back, selling freelancing gigs, and selling things that you no longer need.

Whether you need to make $5 just once, or if you are looking to make an extra $5 each day, there are many ways to do this.

What do you do to make $5 fast?

Apache is functioning normally

April 7, 2024 by Brett Tams

Many travelers have France on their minds, especially with the 2024 Olympic Games coming up in Paris. And what better way to fly to any country than on its namesake airline and flag carrier?

But, is Air France actually good? Here’s our breakdown of what travelers considering flying to France or beyond need to know about Air France.

What is the Air France experience?

From booking to boarding, here’s each step of flying on Air France.

Making reservations: If you’re determined to fly Air France, you can head straight to Air France’s website to search and book your flight. However, you’ll usually be better served by searching through a flight aggregator such as Google Flights. After finding a good fit, Google Flights will link you to Air France for booking.
Check-in: Air France’s online check-in opens 30 hours before departure — except for flights from Atlanta or Detroit, for which check-in opens 24 hours before departure. Check-in closes 60 minutes before departure for Air France flights departing the U.S.
Boarding: Air France groups passengers into five zones for boarding. Elite members and premium cabin passengers board in Sky Priority zones 1 and 2, while economy passengers are grouped into zones 3 through 5.

(Photo courtesy of Air France)

In-flight experience: Air France offers an extensive library of movies and TV shows to help pass long-haul flights, with free headphones provided. Food and drink options will vary based on your service class and flight length. Air France offers Wi-Fi on 90% of its aircraft fleet, with three different speed options available for purchase.

Different fare types listed on Air France’s website.

Air France reviews

Airlines understandably showcase their best elements in advertisements. So, that’s why it’s important to get advice from independent sources on just how good an airline is — and Air France is generally regarded as one of the best airlines in the world in independent award ratings.

In the Skytrax World Airline Awards for 2023, Air France was voted #7 in the world — placing the airline ahead of stalwarts Cathay Pacific Airways, EVA Air and Korean Air. While it didn’t take top honors in any individual field, Air France scored high marks in the Skytrax 2023 rankings in the following areas:

World’s Best First Class (#2).
Best Airline in Europe (#2).
Best Airline Staff in Europe (#2).
World’s Best Business Class (#7).
World’s Best Premium Economy (#8).
In-Flight Entertainment (#10).
World’s Best Economy Class (#16).
World’s Cleanest Airline (#19).
Best Airport Services (#20).

However, Air France failed to land in the top 20 for Best Airline Cabin Crew Worldwide and finished outside the top 10 in the world’s most family-friendly airlines.

Other independent rating awards won by Air France include Business Traveler USA’s Best First Class in the World and the World Traveler Awards’ Europe Leading Airline 2023.

Air France safety record

According to AirlineRatings.com, Air France’s safety rating is 7 out of 7 stars. Air France hasn’t had a fatal crash in the past 10 years.

This is an improvement from recent audits. In a 2022 blog post, AirlineRatings explained that it downgraded Air France’s safety rating after it was revealed that two of the airline’s pilots got into a physical fight midflight. Reportedly, cabin crew had to intervene to ensure the safety of the flight.

This incident came to light just days after the French Bureau of Enquiry and Analysis for Civil Aviation Safety (BEA) released a report indicating that Air France’s pilots weren’t rigorous about following safety procedures.

Air France’s loyalty program

Air France shares a loyalty program with Netherlands-based KLM Royal Dutch Airlines and smaller airline Transavia. The joint loyalty program is called Flying Blue.

Despite being a European-based loyalty program, Flying Blue partners with most major U.S.-based transferable point programs, including:

Flying Blue used to use a convoluted pricing scheme for award redemptions based on the origin and destination of the flight. However, it recently standardized award rates. While Flying Blue doesn’t publish award rates, travelers have found that Flying Blue award rates between the U.S. and Europe now start at:

20,000 Flying Blue miles in economy.
35,000 Flying Blue miles in premium economy.
50,000 Flying Blue miles in business.

Air France often runs monthly award discount programs that can reduce the cost even more. However, be wary if you see award rates that seem too good to be true. In December 2023, Air France ran a flash sale that discounted business class awards to Europe to just 13,500 Flying Blue miles one-way plus $250 in taxes/fees.

Unfortunately, the Flying Blue director later got cold feet and canceled award fares for most of the 2,500 travelers who took advantage of the deal.

Who should avoid Air France?

Not every airline is suitable for every traveler. Here are a few examples of what kind of travelers should find another airline to fly:

Travelers who want to visit Australia, New Zealand or parts of Southeast Asia. Air France operates an incredible route network to almost 200 destinations across over 80 countries. However, it doesn’t fly everywhere in the world. Air France’s route map doesn’t extend to Australia, New Zealand or parts of Southeast Asia like Malaysia.
Travelers who want to visit Asia. Particularly for travelers based on the U.S. West Coast, it will be an excruciatingly long journey to Asia via Paris. For example, flying from San Francisco to Seoul takes more than 23 hours. Other airlines can fly you to Asia in almost half of that flying time.
Travelers who are Francophobes. Air France is unabashedly French, from serving French wines to French being the primary language spoken onboard. If you’re not a fan of French culture, it’s best to find another airline that serves your destination.

Final thoughts on flying Air France

Air France is generally ranked as one of the best airlines to fly — particularly in first class. Its loyalty program partners with many U.S. point programs and can offer excellent redemption rates, making it an appealing option to fly to Europe.

However, its Flying Blue loyalty program has been known to backtrack on deals that it offers to travelers. Even so, Air France can be a great option when traveling from the U.S. to Europe.

How to maximize your rewards

You want a travel credit card that prioritizes what’s important to you. Here are our picks for the best travel credit cards of 2024, including those best for:

Source: nerdwallet.com

Apache is functioning normally

April 6, 2024 by Brett Tams

The Big O Tires and Service credit card has a singular goal for its cardholders. According to Big O Tires’ website, the card intends “to help deal with unexpected auto expenses so you can get back on the road quickly.” It’s an acknowledgement of the fact that car repairs are often necessary but unaffordable for some people. Issued by Comenity Capital Bank, the Big O Tires credit card has special financing options to make those repairs costs more manageable.

However, special financing has a downside. And don’t expect the card’s benefits to extend too far beyond financing assistance.

1. The card’s use is limited

If you want a credit card with more than one trick, the Big O Tires card isn’t for you.

The Big O Tires card is a closed-loop product, meaning it can only be used on Big O Tires purchases and service. All of the cards on our list of the best credit cards for car repairs are open-looped and thus have much broader acceptance.

2. It doesn’t earn rewards

Beyond the special financing offers and car service discounts, the Big O Tires card doesn’t have other perks that come standard in many other credit cards.

The Big O Tires card doesn’t earn rewards, offer a sign-up bonus or have an intro APR.

2. Special financing is available

Special financing, also known as deferred interest, is available to Big O Tires cardholders in two terms:

Special financing for six months on purchases of $199 or more.
Special financing for 12 months on purchases of $1,200 or more.

Deferred interest offers can certainly be a lifeline for people who lack the cash on hand to pay for expensive car repairs. However, there’s a major drawback: If you don’t pay off the entire purchase amount before the deferred interest period ends, you’ll owe all of interest that’s been accruing since the purchase date.

An alternative to special financing is a credit card with an introductory 0% APR. These cards don’t charge interest on purchases for a set period of time, but you won’t owe back interest if purchases aren’t paid off by the end of the promotional period.

The Wells Fargo Reflect® Card, for example, offers 0% intro APR for 21 months from account opening on purchases and qualifying balance transfers, and then the ongoing APR of 18.24%, 24.74%, or 29.99% Variable APR.

3. Cardholders get some discounts

If you pay for certain services with your Big O Tires card, you’re eligible for the following promotions, which may be used more than once:

The Ready to Roadtrip package for $29.99. Vehicles will receive a standard oil change, fluid top off, alignment check and visual vehicle inspection. Certain oils such as full synthetic don’t qualify for this promotion.

5. The interest rate is high

As of April 2024, the purchase APR on the Big O Tires card is an exorbitant 29.99%. The amount of any purchases that aren’t paid off by the due date will be assessed this interest rate.

Source: nerdwallet.com

Apache is functioning normally

April 4, 2024 by Brett Tams

The median annual pay for travel agents is $46,400, according to the Bureau of Labor Statistics most recent data.

Travel is a passion many people share, but not many people are fortunate enough to make their love of travel their full-time job. If someone is skilled at finding the best travel deals and building the perfect vacation itinerary, they may find that working as a travel agent is a rewarding way to earn a living.

To better understand what it’s like to work as a travel agent and how much they earn, keep reading.

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What Are Travel Agents?

Travel agents help their clients plan and book their trips. They may work for an individual client to plan their vacation or a corporate client to book their work travel. No two trips they manage are likely to be exactly the same, but they can help arrange everything from flights to hotels to excursions to dining reservations. Many travel agents can also give their clients access to deals through partner hotels and other travel vendors.

A travel agent can work independently. In-house at a large corporation, or for a major travel company. They may pursue this work full-time or as a side hustle. Given that a significant part of this career involves working with individuals to understand their travel aspirations and needs, it’s likely not a good job for antisocial people.

Travel agents can train in different ways: Some have a bachelor’s degree in an allied field or an associate’s degree in travel and tourism. There are many professional training programs and certifications available, such as ASTA, IATA, TIDS, and CLIA for different dimensions of travel planning.

As part of their work, travel agents may have the opportunity to visit various properties and destinations to make sure they would be a good fit for clients and learn about their selling points. This is often available at a reduced rate or for free and can be a major perk of working as a travel agent.

However, it’s worth noting that travel agents likely have to be available 24/7 and can deal with considerable stress, if, say, a client misses their flight or extreme weather ruins a vacation.
💡 Quick Tip: We love a good spreadsheet, but not everyone feels the same. An online budget planner can give you the same insight into your budgeting and spending at a glance, without the extra effort.

How Much Do Starting Travel Agents Make a Year?

If you’re wondering how much money a travel agent makes, the answer will depend a lot on how experienced the travel agent in question is. For example, entry-level travel agents can earn a lot less than more experienced agents. The lowest 10% of earners in this role make less than $29,650.

The highest 10% make more competitive pay north of $64,100. And there are those travel agents who work in the luxury sector who make considerably more.

Indeed, some could make an annual salary of $100,000 or more.

What is the Average Salary for a Travel Agent?

The Bureau of Labor Statistics reports that the latest median pay per year for travel agents is $46,400 and the median hourly pay is $22.31.

Alongside experience, location can majorly impact a travel agent’s earning potential. The following table illustrates how much a travel agent’s average salary can vary by state, arranged from highest to lowest. For example, in New York, travel agents make an average annual salary of $51,002, but in Arkansas, they earn almost $20,000 less at an average of $33,194.

What is the Average Travel Agent Salary by State for 2023

State	Annual Salary	Monthly Pay	Weekly Pay	Hourly Wage
New York	$51,002	$4,250	$980	$24.52
Pennsylvania	$46,702	$3,891	$898	$22.45
New Hampshire	$45,667	$3,805	$878	$21.96
New Jersey	$44,975	$3,747	$864	$21.62
Wyoming	$44,490	$3,707	$855	$21.39
Washington	$44,429	$3,702	$854	$21.36
Wisconsin	$44,110	$3,675	$848	$21.21
Massachusetts	$44,109	$3,675	$848	$21.21
Alaska	$43,993	$3,666	$846	$21.15
Oregon	$43,637	$3,636	$839	$20.98
Indiana	$43,568	$3,630	$837	$20.95
North Dakota	$43,557	$3,629	$837	$20.94
Hawaii	$42,711	$3,559	$821	$20.53
Arizona	$42,667	$3,555	$820	$20.51
New Mexico	$42,402	$3,533	$815	$20.39
Colorado	$42,122	$3,510	$810	$20.25
Minnesota	$42,111	$3,509	$809	$20.25
Montana	$42,024	$3,502	$808	$20.20
Nevada	$41,598	$3,466	$799	$20.00
Alabama	$41,499	$3,458	$798	$19.95
South Dakota	$41,167	$3,430	$791	$19.79
Vermont	$41,101	$3,425	$790	$19.76
Ohio	$41,077	$3,423	$789	$19.75
Rhode Island	$40,418	$3,368	$777	$19.43
Iowa	$39,934	$3,327	$767	$19.20
Delaware	$39,881	$3,323	$766	$19.17
Connecticut	$39,806	$3,317	$765	$19.14
Virginia	$39,419	$3,284	$758	$18.95
Mississippi	$39,257	$3,271	$754	$18.87
Tennessee	$39,219	$3,268	$754	$18.86
Utah	$39,017	$3,251	$750	$18.76
Illinois	$38,900	$3,241	$748	$18.70
Georgia	$38,659	$3,221	$743	$18.59
Maryland	$38,651	$3,220	$743	$18.58
California	$38,534	$3,211	$741	$18.53
Nebraska	$37,909	$3,159	$729	$18.23
Maine	$37,734	$3,144	$725	$18.14
Missouri	$37,456	$3,121	$720	$18.01
South Carolina	$37,087	$3,090	$713	$17.83
Kansas	$36,952	$3,079	$710	$17.77
Idaho	$36,789	$3,065	$707	$17.69
Louisiana	$36,765	$3,063	$707	$17.68
Oklahoma	$36,712	$3,059	$706	$17.65
Texas	$36,475	$3,039	$701	$17.54
North Carolina	$36,322	$3,026	$698	$17.46
West Virginia	$36,068	$3,005	$693	$17.34
Kentucky	$34,977	$2,914	$672	$16.82
Michigan	$34,895	$2,907	$671	$16.78
Florida	$34,212	$2,851	$657	$16.45
Arkansas	$33,194	$2,766	$638	$15.96

Source: ZipRecruiter

Travel Agent Job Considerations for Pay & Benefits

Working as a travel agent can be very flexible. While full-time positions are available in this role, some travel agents choose to work part-time or for themselves as entrepreneurs.

When working full-time for a travel advisory firm, travel agents can expect to gain access to benefits like health insurance and retirement contribution matching. If they work part-time or are self-employed, they will need to provide themselves with those benefits, which can eat into their take-home pay.
💡 Quick Tip: Income, expenses, and life circumstances can change. Consider reviewing your budget a few times a year and making any adjustments if needed.

Pros and Cons of Travel Agent Salary

The main disadvantage of a travel agent’s salary is that the median annual salary is on the lower side at just $46,400. That being said, one of the main advantages of this salary is that it can come with hefty bonuses based on travel bookings with partners that offer commissions to travel agents. Also, travel agents often get discounts and freebies as they themselves travel to check out new resorts and attractions.

Travel agents who work for themselves can also choose to set their own rates and can potentially earn more. Or those who cater to high net-worth individuals may be able to raise their income.

Recommended: Work-from-Home Jobs for Retirees

The Takeaway

A travel agent who is super organized and passionate about travel can help make their client’s lives easier and their trips more enjoyable. In exchange for their savviness, some travel agents earn good salaries doing work that they truly enjoy and have perks that involve more travel at lower or no cost for their own purposes.

SoFi helps you stay on top of your finances.

FAQ

Can you make 100k a year as a travel agent?

While most travel agents don’t earn $100,000 per year, those who choose to work for themselves and set their own rates or cater to an elite clientele can possibly make six figures. Many travel agents work on commission, so they can also stand to earn more if their clients book a lot of expensive trips.

Do people like being a travel agent?

Many people like working as a travel agent because it’s a fun way to put their love of travel to use. It tends to be a good job for those who consider themselves to be a “people person” since there’s lots of interaction with clients. Also, it’s good for people who can “roll with the punches” since travel plans often change for various reasons.

Is it hard to get hired as a travel agent?

The demand for travel agents is on par with the average of other professions. So, while it’s not seeing a surge in need, there should be availability of jobs as a travel agent.

Photo credit: iStock/Dimensions

SoFi Relay offers users the ability to connect both SoFi accounts and external accounts using Plaid, Inc.’s service. When you use the service to connect an account, you authorize SoFi to obtain account information from any external accounts as set forth in SoFi’s Terms of Use. Based on your consent SoFi will also automatically provide some financial data received from the credit bureau for your visibility, without the need of you connecting additional accounts. SoFi assumes no responsibility for the timeliness, accuracy, deletion, non-delivery or failure to store any user data, loss of user data, communications, or personalization settings. You shall confirm the accuracy of Plaid data through sources independent of SoFi. The credit score is a VantageScore® based on TransUnion® (the “Processing Agent”) data.

*Terms and conditions apply. This offer is only available to new SoFi users without existing SoFi accounts. It is non-transferable. One offer per person. To receive the rewards points offer, you must successfully complete setting up Credit Score Monitoring. Rewards points may only be redeemed towards active SoFi accounts, such as your SoFi Checking or Savings account, subject to program terms that may be found here: SoFi Member Rewards Terms and Conditions. SoFi reserves the right to modify or discontinue this offer at any time without notice.

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.

Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.

SORL0124040

Source: sofi.com

Apache is functioning normally

April 4, 2024 by Brett Tams

With the rise of online payments, checks aren’t nearly as ubiquitous as they used to be. But this form of payment hasn’t disappeared. You may get a government check with your tax refund, a rebate check from a company, or an expense reimbursement check from your employer. Plus, in order to make an online payment, you‘ll need to look at your own checks to determine what your routing and account numbers are.

The upshot: Even in the digital age, it’s important to know how to read a check. Here’s a simple guide to help you find any info you need on a check.

The Routing Number

Your routing number is the first series of nine digits listed on the lower left corner of a check. This number identifies the bank where your checking account is held and reduces the chances of miscommunication in financial transactions. Even if two banks have similar names, they’re distinct from one another because of their different routing numbers.

You’ll need to know your routing number to set up direct deposit at work, transfer money into your account, and make a bill payment.

The Account Number

Your bank account number can be found on the bottom of your checks and is the second set of numbers, just to the right of your routing number. It’s usually between eight and 12 digits long (though it can be longer).

Bank account numbers are used to identify a bank account. The one listed on your checks is the number assigned to your checking account. If you also have a savings account at the same bank, it will have a different number.

If you don’t have access to a check, you can find your bank account number on your statement or by logging into your account.

Check Number

The check number is typically located on the upper right-hand corner of a check, though it can sometimes be found at the bottom of the check after the symbol at the end of your account number. It’s usually three or four digits long.

Checks are numbered in ascending order, so you can easily keep track of checks that you’ve written. When you write a check, it’s a good idea to note the check number and the amount in your check register. This will help you keep the account balanced and avoid accidental overdrafts.

Pay to the Order Of — Payee Line

This line is located in the middle of the check and where the name of the person or business being paid is written. When endorsing a check you’ve received, it’s important to sign your name as it appears on the payee line.

It is possible to write a check to yourself. In that scenario, you would simply add your name in the payee line. This is one way to move money from one bank account to another. You can also write “cash” in the payee line. In this case, anyone can cash the check.

Date Line

The date line is usually located in the upper right area of a check. It’s where you add the date you wrote the check.

If your cash flow is tight, you might be tempted to write a future date in this line, so the recipient doesn’t cash the check until there are available funds in your account. However, know that as soon as you write and sign a check, the recipient can cash it immediately — even if you post-dated the check.

Payment Amount in Numbers

The payment box appears to the right of the “pay to the order of” line, and where you write the dollar amount the check is written for in numeric form, including both dollars and cents. For instance, if the check is for three hundred dollars, you would write “300.00.”

Payment Amount in Words

Below the payee line is a space for the check issuer to write the payment amount in word form. Cents, however, are written in numbers. For example, a check for “$500.25” it’s written out as “Five hundred dollars and 25/100.” If there are no cents, the issuer might write XX/100.

The payment amount in words needs to match the payment amount written in numerical form in the payment box. If these amounts don’t match up, the check can still be cashed, but the bank will only honor the amount that is written out in word form.

Fractional Bank Number

The fractional bank number often goes unnoticed, as it’s typically printed in a smaller font size and isn’t of much importance today. You can find this number towards the top right of your check and it’s listed in two parts — a numerator, then a slash, and a denominator, thus a “fraction.”

A fractional bank number identifies the bank where your checking account is held, but, since the same information is included in your routing and account numbers, it’s not used much anymore.

Your Information

If you’re writing a check, your personal information is located at the top left of the check. This includes your name on the first line, your address in the next few lines, followed, in some cases, by your phone number.

If your checks have an outdated address printed on them, don’t worry — you can still use them. Financial institutions use routing numbers and account numbers to identify where they should pull the money from, not your personal information written on the top left of your check.

Recommended: A Guide to Ordering Checks for Less

For/Memo

The memo box is housed at the bottom left corner of the check and typically begins with “for”. This space gives you an opportunity to briefly note the purpose of the payment, or maybe add a personalized message to the recipient. For instance, you might write “June rent” or “Happy Birthday Sally.”

Signature

The line on the lower right area of a check is where you sign your name. Your signature needs to match the one the bank has on file. If you accidentally sign with a shortened first name or nickname (such as Jon versus Jonathan) or with your maiden name versus your current last name, the bank might refuse to process the transaction.

Bank Name/Logo

The bank name and logo is usually located above the memo box. This tells where the checking account is held. It also adds an additional layer of security. If you receive a check where the logo looks slightly off, or you’ve never heard of the bank listed here, it’s a tipoff that the check might be counterfeit.

Endorsement Line

The endorsement line is located on the back of the check and is usually on the right side. This is where the check recipient, or payee, provides their signature. Without proper endorsement, the bank won’t process the check.

If you’re endorsing a check for a mobile deposit, you may need to write “For mobile deposit only” (or similar wording) under your signature, or check a box labeled “for mobile deposit.” Rules vary by bank.

The Takeaway

While checks aren’t as common as they used to be, you may still receive and write checks. You’ll also likely need to refer to your checks to find important details about your account, such as your routing and account numbers. You’ll need these numbers to sign up for direct deposit or set up an electronic payment or funds transfer.

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 SoFi, NerdWallet’s 2024 winner for Best Checking Account Overall. Enjoy up to 4.60% APY on SoFi Checking and Savings.

Get up to $300 when you bank with SoFi.

Open a SoFi Checking and Savings Account with direct deposit and get up to a $300 cash bonus. Plus, get up to 4.60% APY on your cash!

Photo credit: iStock/AndreyPopov

SoFi members with direct deposit activity can earn 4.60% 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 4.60% 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 4.60% APY on savings balances (including Vaults) and 0.50% on checking balances on or before the following calendar day. You will continue to earn these APYs for (i) the remainder of the current 30-Day Evaluation Period and through the end of the subsequent 30-Day Evaluation Period and (ii) any following 30-day Evaluation Periods during which SoFi Bank determines you to have Direct Deposit activity or $5,000 in Qualifying Deposits without interruption.

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

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 10/24/2023. There is no minimum balance requirement. Additional information can be found at https://www.sofi.com/legal/banking-rate-sheet.

SoFi® Checking and Savings is offered through SoFi Bank, N.A. ©2023 SoFi Bank, N.A. All rights reserved. Member FDIC. Equal Housing Lender.

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.

SOBK0124063

Source: sofi.com

Apache is functioning normally

April 3, 2024 by Brett Tams

Chicago has two major commercial airports: Chicago-O’Hare and Chicago-Midway. The former serves as a major hub for American Airlines and United Airlines, while Southwest Airlines has a large presence at Chicago-Midway.

With plenty of flyers traveling through the city on a daily basis, there are a number of airport lounges available to those who want a quiet space to relax before their flight.

Find out which airport lounges are available to travelers at Chicago-O’Hare, plus the latest information about a new, first-ever airport lounge at Chicago-Midway.

About Chicago’s airport lounges

Chicago-O’Hare

Depending on how you access a lounge and with which airline you’re flying, there are several lounges at Chicago-O’Hare worth exploring. The airport has lounges in Terminals 1, 2, 3 and 5.

Your best bet to get into a lounge here will be if you’re flying with United or American or if you hold elite status in one of these airlines’ loyalty programs. A small number of international airlines also have lounges in Terminal 5.

You may get access to lounges depending on your elite status level with an airline, even if traveling in economy class.

Chicago-Midway

Chicago-Midway doesn’t currently have any lounge options, but it will be opening its first-ever lounge in late 2024. Called “The Club MDW,” it will part of the network of lounges dubbed “The Club” be accessible to Priority Pass members.

If you want to purchase Priority Pass membership, an annual pass for unlimited lounge visits costs $469. Cheaper memberships are available but only allow a limited number of visits per year.

Chicago-O’Hare Terminal 1: United Clubs and Polaris Lounge

Terminal 1 is primarily used by United Airlines and select partners. It has four lounges for passengers traveling on United and partner carriers. Here are the lounges available at Chicago-O’Hare Terminal 1.

United Club

Three locations: near gate B6 (Concourse B), gate B18 (Concourse B) and gate C10 (Concourse C).
Open from 5 a.m. to 9 p.m. daily.
Must present a boarding pass to enter.
Open to United Club members, one-time pass holders, United and Star Alliance premium cabin passengers and eligible elite status holders (including Star Alliance Gold) on eligible international flights. Virgin Australia Velocity Gold, Platinum and VIP members plus Air Canada Maple Leaf Lounge members, all of whom must be traveling from Chicago-O’Hare on United, can also visit United Club locations. Access is also available to certain United credit cardholders.

United Clubs offer hot and cold buffet meals and drinks from an open bar. Work stations, free Wi-Fi, seats with power outlets and Illy coffee machines come standard.

Polaris Lounge

Located near gate C18 (Concourse C).
Open from 6 a.m. to 9 p.m. daily.
Must present a boarding pass to enter.
Open to United Polaris and Star Alliance premium cabin passengers as well as eligible elite status holders (including Star Alliance Gold flyers on non-United flights) on international flights. Star Alliance Gold members who are traveling domestically on United cannot use the Polaris Lounge, but may access the United Club instead.

Polaris Lounges have a more substantial buffet of hot and cold food items, an a la carte menu in a sit-down restaurant, an upgraded bar with complimentary drink selections, lounge areas, showers and nap rooms.

🤓Nerdy Tip

United Club members can bring a spouse and child under 21 or up to two guests. The United Club℠ Infinite Card comes with lounge membership that can be used when flying United or a Star Alliance partner.

Chicago-O’Hare Terminal 2: United Club

Terminal 2 is used by United Airlines as well as a handful of other airlines like Alaska Airlines and JetBlue Airways. Here is information on the sole lounge at Chicago-O’Hare’s Terminal 2:

United Club

Located near gate F9 (Concourse F).
Open from 5 a.m. to 9 p.m. daily.
Must present a boarding pass to enter.
Open to United Club members, one-time pass holders, Star Alliance premium cabin passengers and eligible elite status holders (including Star Alliance Gold) on eligible international flights. Virgin Australia Velocity Gold, Platinum and VIP members plus Air Canada Maple Leaf Lounge members, all of whom must be traveling from Chicago-O’Hare on United, can visit United Club locations.

United Clubs offer hot and cold buffet meals and drinks from an open bar. Work stations, free Wi-Fi, seats with power outlets and Illy coffee machines come standard.

Cards with United Club access

United℠ Explorer Card

on Chase’s website

United Club℠ Infinite Card

on Chase’s website

United℠ Business Card

on Chase’s website

United Club℠ Business Card

Details

Annual fee: $0 intro for the first year, then $95):

Lounge access: Two one-time United Club passes after account opening and each year for your cardmember anniversary.

Annual fee: $525.

Lounge access: Primary cardholders get a United Club membership.

Annual fee: $99.

Lounge access: Two one-time United Club passes after account opening and each year for your cardmember anniversary.

Annual fee: $450.

Lounge access: Primary cardholders get a United Club membership.

Still not sure?

Chicago-O’Hare Terminal 3: American Admirals Clubs and Flagship Lounge

Terminal 3 is primarily used by American Airlines and some of its partner carriers. Here are the details for the lounges located at Chicago-O’Hare Terminal 3.

American Airlines Admirals Club

Three locations: near gate G8 (Concourse G), between gates H6 and K6 (Concourse H/K) and near gate L1 (Concourse L).
Open daily from 6:15 a.m. to 7:15 p.m. (Concourse H/K lounge is open from 5 a.m. to 9 p.m.)
Must present a boarding pass to enter.

American’s Admirals Clubs offer buffet snacks and an open bar. Some include pop-up stations with avocado toast in the morning and made-to-order guacamole in the evening.

Work stations, seats with power outlets and lounge areas are also available. If you’d like to take advantage of the Club’s shower facilities, you’ll need to head to the location between the H and K Concourses.

American Airlines Flagship Lounge

Located between gates H6 and K6 (Concourse H/K).
Open daily from 5 a.m. to 9 p.m.
Must present an eligible boarding pass to enter.
Open to ConciergeKey travelers, eligible AAdvantage and Oneworld elite status members on international flights and premium cabin passengers on eligible international, premium transcontinental and long-haul Hawaiian island flights. One-day passholders can also enter for $150 per person or 15,000 AAdvantage miles. Also eligible to enter are Alaska Airlines MVP Gold and MVP Gold 75K members on eligible flights.

American’s Flagship Lounges are a step up from the Admirals Club and have expansive buffets with hot and cold items, self-service bars, a range of snacks, work stations, showers, seats with power outlets and premium Champagne and wine.

Chicago-O’Hare Terminal 5: Delta Sky Club and international airline lounges

Since Delta moved its operations to Terminal 5, it joins a few other domestic carriers as well as most other international airlines operating from Chicago-O’Hare.

🤓Nerdy Tip

It’s not easy for travelers departing from Terminals 1, 2 or 3 to access these lounges since they must leave the secure area, take a train and re-clear security. If you’re connecting through O’Hare with a flight leaving from Terminal 5, a free shuttle within security is available after showing an eligible boarding pass.

That said, these four Chicago-O’Hare airport lounges are best suited for passengers departing from Terminal 5.

Delta Sky Club

Located between gates M11 and M14 (Concourse M).
Open from 4:30 a.m. to 7 p.m. every day except Saturday when hours are 4:30 a.m. to 6 p.m.
Must present a boarding pass to enter.
Open to Delta Sky Club members, Delta One passengers, premium cabin passengers traveling internationally on a SkyTeam flight and Medallion members (except Silver) flying internationally in a premium cabin. Non-Delta members with SkyTeam Elite Plus status traveling on an international itinerary also receive access, as do those who hold The Platinum Card® from American Express, Delta SkyMiles® Reserve American Express Card, Delta SkyMiles® Reserve Business American Express Card or select Centurion cards from American Express. Travelers may only access the lounge up to three hours prior to their flight. Anyone holding a basic economy ticket will not receive access. Terms apply.

The Sky Club offers a buffet of hot and cold food items, an open bar (including a dedicated wine bar), work stations with power outlets, an interesting collection of artwork and plentiful seating overlooking the Delta gates.

Cards with Delta SkyClub access

Delta SkyMiles® Reserve American Express Card

Delta SkyMiles® Reserve Business American Express Card

The Platinum Card® from American Express

The Business Platinum Card® from American Express

Annual fee

Still not sure?

British Airways Lounge

Located between gates M11 and M12 (Concourse M).
Open from 12:30 p.m. to 9 p.m.
Must present a boarding pass to enter.
This lounge is open to premium cabin and eligible Oneworld elite status members on international British Airways or Oneworld flights.

In the lounge, a range of self-service snacks and an open bar are available, although there is limited seating given its small size.

SAS Lounge

Located near gates M19 and M20 (Concourse M).
Opening hours vary based on flight schedule.
Must present a boarding pass to enter.
This lounge is accessible to SAS passengers and eligible elite status passengers on other Star Alliance flights from the terminal.

While compact, the lounge has a decent spread of snacks, self-pour refreshments including alcohol and work stations with power outlets.

Swissport Lounge

Located near gate M13 (Concourse M).
Open from 7 a.m. to 12:30 a.m (7 a.m. to 9 p.m. for Priority Pass members).
Must present a boarding pass to enter.
This lounge is available to Priority Pass members and eligible customers with access via their airline. If you have access to the American Express Global Lounge Collection, you also have Priority Pass membership, giving access to this lounge.

The lounge offers visitors a buffet of snacks, an open bar and seating although power outlets can be hard to find. This is not one of the most attractive lounges at the airport, but it is the only Priority Pass option.

Chicago-Midway: The Club at MDW

Opening in late 2024, this new Priority Pass-accessible lounge will be available near the Central Market between Concourses A and B.

This will become the first Chicago-Midway airport lounge.

Top cards with Priority Pass

The Platinum Card® from American Express

Capital One Venture X Rewards Credit Card

Marriott Bonvoy Brilliant® American Express® Card

The Hilton Honors American Express Business Card

U.S. Bank Altitude™ Reserve Visa Infinite® Card

Annual fee

Priority Pass benefits

Priority Pass Select membership. Enrollment required.

Terms apply.

Full Priority Pass Select membership. Includes two guests per visit. No restaurants.

Priority Pass Select membership. Enrollment required.

Terms apply.

10 complimentary Priority Pass lounge visits per year. Enrollment required.

Terms apply.

Eight free Priority Pass lounge visits per year.

Learn more

For Midway passengers without a qualifying card or Prioriy Pass membership, a day pass can also be purchased for those with a boarding pass for $50.

Chicago airport lounges recapped

Chicago-O’Hare has several lounge options across United, American, Delta and international airlines. Chicago-Midway, meanwhile, will be opening an airline-agnostic lounge for Priority Pass members in late 2024.

As it currently stands, travelers need to rely on their airline ticket, elite status or lounge membership to give them access to a Chicago airport lounge.

The information related to United Club℠ Business Card has been collected by NerdWallet and has not been reviewed or provided by the issuer of this card.

How to maximize your rewards

You want a travel credit card that prioritizes what’s important to you. Here are our picks for the best travel credit cards of 2024, including those best for:

Source: nerdwallet.com

Apache is functioning normally

April 2, 2024 by Brett Tams

The median pay for professional photographers is $40,170 per year, according to the most recent data from the Bureau of Labor Statistics. That said, there is a broad range of earning possible, depending on what kind of photographer a person is and where they live.

Photography may become a more in-demand skill in the future, given what a visual culture exists today. Over the next decade, it’s anticipated that photographers will see job demand increase by 5% between 2022 and 2032, which is greater than the average for all professions.

Read on to learn more about the salary and other facets of a career as a photographer.

Check your score with SoFi

Track your credit score for free. Sign up and get $10.*

What Are Photographers?

A photographer combines technical expertise with creativity and composition skills to produce photographic images. Photographers can get paid to take wedding, family, or pet portraits; cover news events; work for businesses and brands shooting products; or create art — among many other types of photography work.

Many photographers are also skilled in editing photos. If a photographer works for themselves, they can also be responsible for running their business and everything that entails, from advertising to accounting to operations. There are so many directions a photographer’s career can take. Some photographers also teach the art of photography, help plan creative direction for photo shoots, or use drone technology to capture shots from the sky.
💡 Quick Tip: Online tools make tracking your spending a breeze: You can easily set up budgets, then get instant updates on your progress, spot upcoming bills, analyze your spending habits, and more.

How Much Do Starting Photographers Make a Year?

When they are earning an entry-level salary, how much money a photographer makes is typically on the low end of the spectrum. Their earnings will likely grow as they gain skills and experience and make connections in the industry.

The lowest 10% of photographers earn less than $12.98 per hourly pay. That may be a good starting point if you are wondering about starting salaries.

Keep in mind that photographers in different locations and areas of focus will make an array of salaries. For instance, someone who takes baby portraits for new parents in a small town will likely never earn as much as a high-fashion photographer in a major city who is being paid by corporate clients. The latter could make $100,000 a year or considerably more.

Recommended: What Trade Makes the Most Money?

What is the Average Salary for a Photographer?

The average salary for a photographer can depend a lot, as already noted, on where someone lives. While the median annual income for this role is $40,170, the following table illustrates how the state a photographer chooses to work in can impact their potential earnings and determine if it’s a high-paying job.

What is the Average Photographer Salary by State for 2023

State	Annual Salary	Monthly Pay	Weekly Pay	Hourly Wage
Oregon	$48,870	$4,072	$939	$23.50
Alaska	$48,629	$4,052	$935	$23.38
North Dakota	$48,622	$4,051	$935	$23.38
Massachusetts	$48,041	$4,003	$923	$23.10
Hawaii	$47,595	$3,966	$915	$22.88
Washington	$46,501	$3,875	$894	$22.36
Nevada	$45,979	$3,831	$884	$22.11
South Dakota	$45,953	$3,829	$883	$22.09
Colorado	$45,377	$3,781	$872	$21.82
Rhode Island	$45,265	$3,772	$870	$21.76
New York	$43,131	$3,594	$829	$20.74
Delaware	$42,656	$3,554	$820	$20.51
Vermont	$42,118	$3,509	$809	$20.25
Virginia	$42,039	$3,503	$808	$20.21
Illinois	$42,025	$3,502	$808	$20.20
Maryland	$41,311	$3,442	$794	$19.86
Nebraska	$40,429	$3,369	$777	$19.44
Missouri	$40,178	$3,348	$772	$19.32
California	$40,067	$3,338	$770	$19.26
South Carolina	$39,831	$3,319	$765	$19.15
Pennsylvania	$39,512	$3,292	$759	$19.00
New Jersey	$39,430	$3,285	$758	$18.96
Oklahoma	$39,153	$3,262	$752	$18.82
Maine	$39,132	$3,261	$752	$18.81
Wisconsin	$39,049	$3,254	$750	$18.77
North Carolina	$39,009	$3,250	$750	$18.75
New Hampshire	$38,424	$3,202	$738	$18.47
Idaho	$38,328	$3,194	$737	$18.43
Texas	$38,071	$3,172	$732	$18.30
Kentucky	$37,948	$3,162	$729	$18.24
Wyoming	$37,814	$3,151	$727	$18.18
Minnesota	$37,716	$3,143	$725	$18.13
Michigan	$37,565	$3,130	$722	$18.06
New Mexico	$37,504	$3,125	$721	$18.03
Indiana	$37,314	$3,109	$717	$17.94
Ohio	$36,661	$3,055	$705	$17.63
Arizona	$36,543	$3,045	$702	$17.57
Connecticut	$36,357	$3,029	$699	$17.48
Mississippi	$36,102	$3,008	$694	$17.36
Iowa	$36,056	$3,004	$693	$17.34
Montana	$35,992	$2,999	$692	$17.30
Arkansas	$35,860	$2,988	$689	$17.24
Alabama	$35,543	$2,961	$683	$17.09
Utah	$35,026	$2,918	$673	$16.84
Tennessee	$35,001	$2,916	$673	$16.83
Kansas	$33,992	$2,832	$653	$16.34
Georgia	$33,110	$2,759	$636	$15.92
Louisiana	$32,930	$2,744	$633	$15.83
West Virginia	$30,515	$2,542	$586	$14.67
Florida	$29,303	$2,441	$563	$14.09

💡 Quick Tip: Income, expenses, and life circumstances can change. Consider reviewing your budget a few times a year and making any adjustments if needed.

Photographer Job Considerations for Pay & Benefits

While photographers can often choose to set their own rates, they are also usually self-employed and therefore responsible for securing their own benefits. For instance, they won’t have access to an employer-sponsored 401(k) plan or healthcare benefits. There are some exceptions to this rule. For example, if a photographer works for a large corporation or photo studio, they may receive access to traditional employee benefits like paid time off and a retirement plan contribution match.

Other considerations can be how a career as a photographer can impact your lifestyle. If you are a news photographer, you may find that you have to be available for extended periods, whenever a situation comes up that needs documenting. If you are a travel photographer, which can sound like a dream job, you likely won’t have a typical week-to-week schedule. And if you are a wedding photographer, you will likely be spending many weekends shooting ceremonies vs. kicking back with your family.

There are some photography jobs, such as taking pictures of a product, that may not involve that much social interaction, but many kinds of photography careers do involve working with people non-stop. For this reason, it may not be the best job for antisocial people.

Pros and Cons of Photographer Salary

The main advantage of a photographer’s salary is there is no real cap on how much they earn. For example, in-demand wedding photographers or photographers who license their images for products can all demand high rates for their work. On the flip side, their salaries are often not consistent, which can be very stressful. Also, when you are self-employed, taxes can take a bite out of your earnings.

Recommended: What Is Competitive Pay?

The Takeaway

Working as a professional photographer can be a creatively fulfilling, fun, and lucrative career. Worth considering, though: How much a photographer stands to make depends a lot on their specialty, where they live, and their level of experience.

See exactly how your money comes and goes at a glance.

FAQ

Can you make 100k a year as a Photographer?

It is possible to earn $100,000 or more a year as a photographer — the sky really is the limit when it comes to income potential in this field. However, the median annual income for this role is $40,170, but photographers can earn more over time as they gain experience and a strong reputation in their industry.

Do people like being a photographer?

Many people who pursue a career in photography do so because it is a creative pursuit they are truly passionate about. Many positions can provide flexibility and fun experiences (say, if you are a travel or wedding photographer).

Is it hard to get hired as a photographer?

It can be very hard to find a job as a photographer if you don’t have the skill set required to get the job done well. Taking some time to build a strong portfolio of your work and then marketing your business can make it much easier to get hired.

Photo credit: iStock/ivan101

Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.

SORL0124030

Source: sofi.com

Apache is functioning normally

April 2, 2024 by Brett Tams

Annual max coverage

Reimbursement rates

Deductibles

$250 – $1,000

Policy highlight

Processes most claims within 48 hours.

Pros and cons

Accident and illness policies have unlimited annual coverage.
Live customer support chat available.
15-day waiting period for orthopedic issues is shorter than that of many other insurers.
No waiting period if your pet is switching from another policy.

No option to pay your vet directly.
No hip dysplasia coverage for pets enrolled after age 5.
Wellness plans don’t reimburse for spay/neuter surgery or microchipping.

Bottom line

ManyPets offers comprehensive coverage for pet owners with short waiting periods for orthopedic conditions and fast claim processing times.

About ManyPets pet insurance

ManyPets earned 4 stars out of 5 for overall performance thanks to its modern take on pet insurance. You can live-chat customer support and receive a claims decision within 48 hours in many cases.

Unlike many of its competitors, ManyPets doesn’t have a separate, multi-month waiting period for orthopedic conditions like knee injuries or hip dysplasia. Coverage for these and all other conditions begins 15 days after you buy your policy. The company will waive the waiting period if you’re switching to ManyPets from another pet insurance provider.

ManyPets insurance was founded in 2012.

Strengths: ManyPets has a comprehensive accident and illness plan that includes coverage for exam fees and dental disease treatment — two items not always covered by other plans.

Weaknesses: ManyPets doesn’t cover prescription food or behavioral modification. It also doesn’t have an accident-only plan, and its wellness package won’t pay for spaying or neutering.

ManyPets pet insurance plans and coverage

ManyPets offers a single accident and illness plan with the option to add preventive care coverage.

Note: Coverage options and availability may vary depending on where you live and the age and breed of your pet.

Accident and illness

The ManyPets accident and illness plan has no annual coverage limit. This plan can reimburse you for:

Sick visit exam fees.
Vet specialist and ER visits.
Prescribed medications.
Treatment for illnesses including cancer, dental diseases and hereditary conditions.
Diagnostic tests.
Rehabilitation, acupuncture and chiropractic treatments.
Surgeries.
Hospitalization.
Euthanasia and cremation.

Wellness plan

You can add an optional wellness plan to get reimbursed for preventive care expenses. The ManyPets wellness plan has a total annual benefit of $600. It covers:

Checkups and vaccines, up to $150 per year.
Parasite testing and prevention, up to $150 per year.
Teeth cleaning, dental chews and other oral care expenses, up to $150 per year.
Vitamins, supplements, and services such as acupuncture or massage, up to $150 per year.

What’s not covered

A ManyPets accident and illness plan won’t pay for:

Pre-existing conditions, unless your pet has been symptom-free without treatment for at least 18 months.
Routine care, unless you’ve added a wellness plan.
Hip dysplasia, if you enrolled your pet after age 5 or the animal has previously been diagnosed with this condition.
Behavioral modification treatments.
Anal gland expression.
Breeding, pregnancy or giving birth.
Sickness or injury due to neglect, racing or guarding.
Cosmetic procedures like tail docking or dew claw removal.
Treatment of cruciate ligament problems if your pet has had prior cruciate ligament injuries to any leg before the start of the policy.

The ManyPets wellness plan doesn’t cover the following (some of which other companies’ preventive care packages will cover):

Spay or neuter surgery.
Microchipping.
Blood tests.
Grooming services.
Prescription diet food.

ManyPets coverage options

Deductibles: A pet insurance deductible is the amount you have to pay before your plan reimburses you for vet expenses. For the ManyPets accident and illness plan, deductible options may range from $250 to $1,000 per year, though not all pets have the same choices.

Wellness plans have no deductible.

Reimbursement amounts: ManyPets will reimburse you for a certain percentage of vet expenses, minus your deductible. With ManyPets plans, you can generally choose between a 70% and 80% reimbursement rate.

ManyPets first applies its reimbursement rate to your vet bills, then your deductible. This is a less generous method of payment than that of some other pet insurers. Say you have a $1,000 vet bill, an 80% reimbursement rate and a $500 deductible. ManyPets will deem $800 of your bill reimbursable (80% of $1,000), then subtract the $500 deductible from your payout. That leaves ManyPets paying $300 and you covering the remaining $700.

Companies that apply the deductible first would pay $400 of the same vet bill. Here’s the math: $1,000 vet bill – $500 deductible = $500. 80% of the remaining $500 vet bill = $400.

Reimbursement percentages don’t apply to the ManyPets wellness plan.

Coverage limits: ManyPets has no annual coverage limit for its accident and illness plan. Its wellness plan can pay up to $600 per year.

Restrictions and waiting periods

Age restrictions: New policies are available to pets between the ages of 8 weeks and 14 years. Once enrolled, your pet won’t be denied coverage due to age as long as your policy stays active. You must enroll pets before age 6 for hip dysplasia coverage.

Waiting periods: A waiting period is the time between when you buy your policy and when your coverage starts. ManyPets has a 15-day waiting period in most states for accident and illness coverage. Wellness coverage begins the day after purchase.

ManyPets pet insurance rates

The cost of ManyPets pet insurance depends on where you live and your pet’s age and breed. Below are sample monthly rates from ManyPets for six common dog breeds at ages 2 and 8. Sample pets lived in Katy, Texas, and had accident and illness coverage with a $250 deductible, unlimited annual coverage and an 80% reimbursement rate. Your own price will vary.


French bulldog
German shepherd
Golden retriever
Labrador retriever
Medium mixed-breed dog

We also gathered rates for a variety of cat breeds with the same coverage limits as above. Rates below are sample monthly premiums for cats living in Katy, Texas.



Domestic shorthair
Exotic longhair
Maine coon

Discounts

ManyPets doesn’t advertise any pet insurance discounts.

State availability

ManyPets pet insurance is available in Washington, D.C., plus all states except Hawaii, Idaho, Maine, Massachusetts and Minnesota.

Availability may change at any time. Coverage may not be available to all pets in a given state.

Consumer experience

Website: The ManyPets website is easy to use. You can get a free quote and enroll your pet, plus browse FAQs to get answers to your questions. The website also has sample policies if you’d like to review details before you purchase a plan.

App: The ManyPets mobile app is available for both iOS and Android. You can use the app to submit and track claims, view benefit information, refer friends, and watch pet care videos.

Claims: With ManyPets insurance, you pay your vet upfront and get reimbursed after filing a claim. You have 180 days to file a claim from when you pay your vet bill. You can file a claim online or in the mobile app. ManyPets tries to process most accident and illness claims within 48 hours. It issues reimbursements within 24 business hours of approval, so you can generally expect a quick turnaround. You can get your reimbursement via bank deposit or check.

Customer service: The ManyPets customer care team is available by phone at 888-978-5291 and by email at [email protected]. You can also reach out via live chat. The company’s business hours are Monday through Friday from 9 a.m. to 9 p.m. and Saturdays from 10 a.m. to 6 p.m. ET.

Other pet insurance companies to consider

Not ready to make a decision? You may be interested in these other pet insurance companies:

How we review pet insurance

Our writers and editors follow strict editorial guidelines that ensure fairness and accuracy to help you choose the financial products that work best for you. In our pet insurance reviews, we consider coverage, discounts, financial strength ratings from AM Best and more to determine our star ratings.

Our rating system rewards companies that cover a wide range of potential expenses, offer many ways to customize your plan and have a strong financial rating. Within the consumer experience category, we looked at features such as mobile app ratings and whether the company offers direct vet payments. To calculate each insurer’s rating, we adjusted the scores to a curved 5-point scale.

Frequently asked questions

Does ManyPets cover neutering or spaying?

ManyPets doesn’t cover neutering and spaying for your pet, even under a wellness plan. This is unusual, as many pet insurance companies will reimburse you for spay or neuter surgery if you have a preventive care package. Learn more about which pet insurance companies cover spaying or neutering.

Does ManyPets cover dental issues?

ManyPets covers dental injuries and illnesses as long as they’re not related to a pre-existing condition. If you have a wellness plan, you can get reimbursed up to $150 per year for preventive care like cleanings, dental chews and toothbrushes. Learn more about pet dental insurance.

How do I cancel ManyPets insurance?

You can cancel your ManyPets insurance at any time by calling or emailing the company. It will cancel your policy and stop future premium payments. If you aren’t happy with the policy within the first 30 days and haven’t made a claim, you can cancel for a full refund in most states.

Source: nerdwallet.com

Apache is functioning normally

April 2, 2024 by Brett Tams

Real estate investing can be an effective way to hedge against the effects of inflation in a portfolio while generating a steady stream of income. When it comes to how to invest in real estate, there’s no single path to entry.

Where you decide to get started can ultimately depend on how much money you have to invest, your risk tolerance, and how hands-on you want to be when managing real estate investments.

Why Invest in Real Estate?

Real estate investing can yield numerous benefits, for new and seasoned investors alike. Here are some of the main advantages to consider with property investments.

• Real estate can diversify your portfolio, allowing you to better balance risk and rewards.

• Provides the opportunity to generate investment returns outside of owning securities such as stocks, ETFs, or bonds.

• Historically, real estate is often seen as a hedge against inflation, since property prices tend to increase in tandem with price increases for other consumer goods and services.

• Owning real estate investments can allow you to generate a steady stream of passive income in the form of rents or dividends.

• Rental property ownership can include some tax breaks since the IRS allows you to deduct ordinary and necessary expenses related to operating the property.

• Real estate may appreciate significantly over time, which could result in a sizable gain should you decide to sell it. However, real estate can also depreciate in value, leading to a possible loss or negative return. Investors should know that the real estate market is different than the stock market, and adjust their expectations accordingly.

There’s one more thing that makes real estate investing for beginners particularly attractive: There are many ways to do it, which means you can choose investments that are best suited to your needs and goals.

💡 Quick Tip: While investing directly in alternative assets often requires high minimum amounts, investing in alts through a mutual fund or ETF generally involves a low minimum requirement, making them accessible to retail investors.

Alternative investments,
now for the rest of us.

Start trading funds that include commodities, private credit, real estate, venture capital, and more.

7 Ways to Invest in Real Estate

Real estate investments can take different forms, some of which require direct property ownership and others that don’t. As you compare different real estate investments, here are some important things to weigh:

• Minimum investment requirements

• Any fees you might pay to own the investment

• Holding periods

• Past performance and expected returns

• Investment-specific risk factors

With those things in mind, here are seven ways to get started with real estate investing for beginners.

1. Real Estate Investment Trusts (REITs)

A real estate investment trust (REIT) is a company that owns and operates income-producing properties. The types of properties you might find in a REIT include warehouses, storage facilities, shopping centers, and office space. A REIT may also own mortgages or mortgage-backed securities.

REITs allow investors to enjoy the benefits of property ownership without having to buy a building or land. Specifically, that means steady income as REITs are required to pay out 90% of taxable income annually to shareholders in the form of dividends. Most REIT dividends are considered to be ordinary income for tax purposes.

Many REITs are publicly traded on an exchange just like a stock. That means you can buy shares through your brokerage account if you have one, making it relatively easy to add REITs to your portfolio. Remember to consider any commission fees you might pay to trade REIT shares in your brokerage account.

2. Real Estate Funds

Real estate funds are mutual funds that own a basket of securities. Depending on the fund’s investment strategy, that may include:

• Individual commercial properties

• REITs

• Mortgages and mortgage-backed securities

Mutual funds also trade on stock exchanges, just like REITs. One of the key differences is that mutual funds are not required to pay out dividends to investors, though they can do so.

Instead, real estate funds aim to provide value to investors in the form of capital appreciation. A real estate fund may buy and hold property investments for the long term, in anticipation of those investments increasing in value over time.

Investing in a real estate fund vs. REIT could offer broader exposure to a wider range of property types or investments. A REIT, for instance, may invest only in hotels and resorts whereas a real estate mutual fund may diversify with hotels, office space, retail centers, and other property types.

3. REIT ETFs

A REIT ETF or exchange-traded fund is similar to a mutual fund, but the difference is that it trades on an exchange just like a stock. There’s also a difference between REIT ETFs and real estate mutual funds regarding what they invest in. With a REIT ETF, holdings are primarily concentrated on real estate investment trusts only.

That means you could buy a single REIT ETF and gain exposure to 10, 20 or more REITs in one investment vehicle.

Some of the main advantages of choosing a REIT ETF vs. real estate funds or individual REITs include:

• Increased tax efficiency

• Lower expense ratios

• Potential for higher returns

A REIT ETF may also offer a lower minimum investment than a REIT or real estate fund, which could make it suitable for beginning investors who are working with a smaller amount of capital.

But along with those advantages, investors should know about some of the potential drawbacks:

• ETF values may be sensitive to interest rate changes

• REIT ETFs may experience volatility related to property trends

• REIT ETFs may be subject to several other types of risk, such as management and liquidity risk more so than other types of ETFs.

As always, investors should consider the risks along with the potential advantages of any investment.

4. Real Estate Crowdfunding

Real estate crowdfunding platforms allow multiple investors to come together and pool funds to fund property investments. The minimum investment may be as low as $500, depending on which platform you’re using, and if you have enough cash to invest you could fund multiple projects.

Compared to REITs, REIT ETFs, or real estate funds, crowdfunding is less liquid since there’s usually a required minimum holding period you’re expected to commit to. That’s important to know if you’re not looking to tie up substantial amounts of money for several years.

You’ll also need to meet a platform’s requirements before you can invest. Some crowdfunding platforms only accept accredited investors. To be accredited, you must:

• Have a net worth over $1 million, excluding your primary residence, OR

• Have an income of $200,000 ($300,000 if married) for each of the prior two years, with the expectation of future income at the same level

You can also qualify as accredited if you hold a Series 7, Series 65, or Series 82 securities license.

5. Rental Properties

Buying a rental property can help you create a long-term stream of income if you’re able to keep tenants in the home. Some of the ways you could generate rental income with real estate include:

• Buying a second home and renting it out to long-term tenants

• Buying a vacation home and renting it to short-term or seasonal tenants

• Purchasing a multi-unit property, such as a duplex or triplex, and renting to multiple tenants

• Renting a room in your home

But recognize the risks or downsides associated with rental properties, too:

• Negative cash flow resulting from tenancy problems

• Problem tenants

• Lack of liquidity

• Maintenance costs and property taxes

Further, the biggest consideration with rental properties usually revolves around how you’re going to finance a property purchase. You might try for a conventional mortgage, an FHA loan if you’re buying a multifamily home and plan to live in one of the units, a home equity loan or HELOC if you own a primary residence, or seller financing.

Each one has different credit, income, and down payment requirements. Weighing the pros and cons of each one can help you decide which financing option might be best.

6. Fix and Flip Properties

With fix-and-flip investments, you buy a property to renovate and then resell it for (ideally) a large profit. Becoming a house flipper could be lucrative if you’re able to buy properties low, then sell high, but it does take some knowledge of the local market you plan to sell in.

You’ll also have to think about who’s going to handle the renovations. Doing them yourself means you don’t have to spend any money hiring contractors, but if you’re not experienced with home improvements you could end up making more work for yourself in the long run.

If you’re looking for a financing option, hard money loans are one possibility. These loans let you borrow enough to cover the purchase price of the home and your estimated improvements, and make interest-only payments. However, these loans typically have terms ranging from 9 to 18 months so you’ll need to be fairly certain you can sell the property within that time frame.

7. Invest in Your Own Home

If you own a home, you could treat it as an investment on its own. Making improvements to your property that raise its value, for example, could pay off later should you decide to sell it. You may also be able to claim a tax break for the interest you pay on your mortgage.

Don’t own a home yet? Understanding what you need to qualify for a mortgage is a good place to start. Once you’re financially ready to buy, you can take the next step and shop around for the best mortgage lenders.

How to Know If Investing in Real Estate Is a Good Idea for You

Is real estate investing right for everyone? Not necessarily, as every investor’s goals are different. Asking yourself these questions can help you determine where real estate might fit into your portfolio:

• How much money are you able and willing to invest in real estate?

• What is your main goal or reason for considering property investments?

• If you’re interested in rental properties, will you oversee their management yourself or hire a property management company? How much income would you need them to generate?

• If you’re considering a fix-and-flip, can you make the necessary commitment of time and sweat equity to get the property ready to list?

• How will you finance a rental or fix-and-flip if you’re thinking of pursuing either one?

• If you’re thinking of choosing REITs, real estate crowdfunding, or REIT ETFs, how long do you anticipate holding them in your portfolio?

• How much risk do you feel comfortable with, and what do you perceive as the biggest risks of real estate investing?

Talking to a financial advisor may be helpful if you’re wondering how real estate investments might affect your tax situation, or have a bigger goal in mind, like generating enough passive income from investments to retire early.

💡 Quick Tip: When you’re actively investing in stocks, it’s important to ask what types of fees you might have to pay. For example, brokers may charge a flat fee for trading stocks, or require some commission for every trade. Taking the time to manage investment costs can be beneficial over the long term.

The Takeaway

Real estate investing is one of the most attractive alternative investments for portfolio diversification. While you might assume that property investing is only for the super-rich, it’s not as difficult to get started as you might think. Keep in mind that, depending on how much money you have to invest initially and the degree of risk you’re comfortable taking, you’re not just limited to one option when building out your portfolio with real estate.

Ready to expand your portfolio’s growth potential? Alternative investments, traditionally available to high-net-worth individuals, are accessible to everyday investors on SoFi’s easy-to-use platform. Investments in commodities, real estate, venture capital, and more are now within reach. Alternative investments can be high risk, so it’s important to consider your portfolio goals and risk tolerance to determine if they’re right for you.

Invest in alts to take your portfolio beyond stocks and bonds.

FAQ

How Can I Invest in Property With Little Money?

If you don’t have a lot of money to invest in property, you might consider real estate investment trusts or real estate ETFs for your first investments. REITs and ETFs can offer lower barriers to entry versus something like purchasing a rental property or a fix-and-flip property.

Is Real Estate Investing Worth It?

Real estate investing can be worth it if you’re able to generate steady cash flow and income, hedge against inflation, enjoy tax breaks, and/or earn above-average returns. Whether investing in real estate is worth it for you can depend on what your goals are, how much money you have to invest, and how much time you’re willing to commit to managing those investments.

Is Investing in Real Estate Better Than Stocks?

Real estate tends to have a low correlation with stocks, meaning that what happens in the stock market doesn’t necessarily affect what happens in the property markets. Investing in real estate can also be attractive for investors who are looking for a way to hedge against the effects of inflation over the long term.

Is Investing in Real Estate Safer Than Stocks?

Just like stocks, real estate investments carry risk meaning one isn’t necessarily safer than the other. Investing in both real estate and stocks can help you create a well-rounded portfolio, as the risk/reward profile for each one isn’t the same.

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

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

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

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

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

Investment Risk: Diversification can help reduce some investment risk. It cannot guarantee profit, or fully protect in a down market.

[cd_fund-fees]
Exchange Traded Funds (ETFs): Investors should carefully consider the information contained in the prospectus, which contains the Fund’s investment objectives, risks, charges, expenses, and other relevant information. You may obtain a prospectus from the Fund company’s website or by email customer service at [email protected]. Please read the prospectus carefully prior to investing.

Shares of ETFs must be bought and sold at market price, which can vary significantly from the Fund’s net asset value (NAV). Investment returns are subject to market volatility and shares may be worth more or less their original value when redeemed. The diversification of an ETF will not protect against loss. An ETF may not achieve its stated investment objective. Rebalancing and other activities within the fund may be subject to tax consequences.

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

An investor should consider the investment objectives, risks, charges, and expenses of the Fund carefully before investing. This and other important information are contained in the Fund’s prospectus. For a current prospectus, please click the Prospectus link on the Fund’s respective page. The prospectus should be read carefully prior to investing.
Alternative investments, including funds that invest in alternative investments, are risky and may not be suitable for all investors. Alternative investments often employ leveraging and other speculative practices that increase an investor’s risk of loss to include complete loss of investment, often charge high fees, and can be highly illiquid and volatile. Alternative investments may lack diversification, involve complex tax structures and have delays in reporting important tax information. Registered and unregistered alternative investments are not subject to the same regulatory requirements as mutual funds.
Please note that Interval Funds are illiquid instruments, hence the ability to trade on your timeline may be restricted. Investors should review the fee schedule for Interval Funds via the prospectus.

SOIN0124116

Source: sofi.com

Apache is functioning normally

March 31, 2024 by Brett Tams

Unsecured credit cards, which don’t require a form of collateral to use them, tend to be the most popular kind of credit card. In addition to helping you build credit, these cards often come with perks and benefits, like cash back rewards or free travel insurance.

To decide if an unsecured credit card is right for your financial situation, read on. You’ll learn what an unsecured credit card is, how it works, and the pros and cons of using one.

What Is an Unsecured Credit Card?

When you think of what a credit card is, you’re most likely thinking of an unsecured credit card. An unsecured credit card is a line of credit that gives cardholders the ability to use credit at their whim. In other words, as a cardholder, you can use your credit up to its limit and pay it off continuously, with no end date. Unsecured credit cards get their name since they don’t require a deposit or collateral, unlike secured credit cards.

Depending on the credit card you qualify for, you might be able to receive some additional benefits and perks with an unsecured credit card like cash back rewards.

How Does an Unsecured Credit Card Work?

You’ll receive a credit limit when you open an unsecured credit card. Your credit limit is the maximum credit you can use on this account. You must pay at least the credit card minimum payment each billing cycle if you’ve used the card. Here are some points to know:

• Your monthly payment will vary depending on how much credit you used during that billing cycle (in fact, some months, you may even have a negative balance on your credit card).

• If you miss a monthly payment, you’ll likely have to pay a penalty or fee for the infraction.

• If you make only the minimum monthly payment, your remaining balance (plus accrued interest based on the APR on a credit card) will carry over until the next month.

So, to avoid penalties, fees, and accrued interest, it’s best to pay your balance in full every month.

But, if this isn’t feasible with your budget, aim to pay more than the minimum every month so you can quickly chip away at your total outstanding balance. Just be sure to keep in mind how credit cards work when deciding how much to pay in a given month.

Pros and Cons of Unsecured Credit Cards

Some of the benefits and drawbacks of unsecured credit cards may be obvious. But, to help you determine the risks and rewards of using this type of credit card, here are some pros and cons to get familiar with.

Pros

Upsides of unsecured credit cards include:

• Higher credit limits: Applicants usually must have a competitive credit score to qualify for an unsecured credit card. For this reason, credit card companies may apply a higher credit card limit since you’ve proved your creditworthiness.

Also, having a higher credit limit can impact your credit utilization ratio, the amount of credit you use compared to the amount of credit you have available. Your credit utilization ratio is used to assess your credit score, and a higher ratio may negatively impact your score. With a higher amount of credit available, it’s easier to maintain a lower ratio.

• Potential to earn rewards: Many unsecured credit cards offer incentives like cash back or airline miles to encourage cardholders to use their credit. They may also offer additional benefits, such as complimentary airport lounge access or hotel credits. So, when comparing your unsecured credit card options, be sure to look at all perks and rewards that may be offered.

• Frequently reports credit history to credit bureaus. Since card issuers take on more risk by lending credit to cardholders, they usually report your credit activity to the credit bureaus on a monthly basis.

Your credit usage is another factor used to determine your credit score, so these regular reports can help you assess how well you’re managing your credit. If you’re managing it well, these frequent reports can help your score.

• An abundance of options: Unsecured credit cards are the most popular type of credit card. Therefore, there’s a vast array of credit card options at your disposal. Because there are so many options, you’ll likely be able to find one suitable to fit your needs.

Cons

While there are many advantages of using an unsecured card, some may come with some downsides, including:

• Varying approval requirements: Every credit card company usually has different credit card approval requirements, and you’ll generally need a higher score to qualify for an unsecured versus a secured credit card.

For example, some secured credit card requirements are a credit score of at least 580; others may require a score of at least 680. Researching requirements beforehand can help you identify the best cards available that you can qualify for with your credit score.

• Extra fees: Some unsecured cards may come with extra fees, such as convenience fees, cash advance fees, or foreign transaction fees. Keep in mind that not all cards charge these fees, though, so it’s worth it to compare your options based on your needs. For example, if you travel abroad often, you may want to choose a card that doesn’t have foreign transaction fees.

Pros	Cons
Higher credit limits	May charge additional fees such as convenience fees, balance transfer fees, or cash advance fees
Wide range of credit card options available	Different credit requirements for approval
Rewards such as cash back or miles
Usually report to credit bureaus

Unsecured vs Secured Credit Cards: What Are the Differences?

The most significant difference between unsecured versus secured credit cards is that secured cards require a deposit while unsecured cards don’t. Your deposit on a secured credit card usually dictates your credit limit. Depending on the credit card company and your credit score, your deposit may vary between $200 and $3,000, which is far lower than the average credit card limit.

Requiring a security deposit eliminates some of the creditors’ risks; thus, it can be easier to qualify for a secured credit card than an unsecured credit card. Keep in mind, no matter what type of card you have, you’ll find the most favorable terms if you have good credit, such as a good APR for a credit card. Also, you may have to forgo any rewards while you build your credit with a secured card, as they don’t often offer them.

If you fall behind on your payments, your creditor could cancel your card and send your remaining outstanding balance to a third-party collector with either an unsecured or a secured credit card. However, if you have a secured credit card and your payment is past due, your creditor may keep your security deposit to pay off some of the remaining balance.

Beyond these few items, there is no other real difference between the inner workings of a secured credit card and an unsecured credit card.

• Each card allows you to make purchases at locations that accept credit card payments.

• During the billing cycle, you must make at least a credit card minimum payment.

• Otherwise, you may have to pay fees or penalties with your secured or unsecured credit card.

	Secured Credit Card	Unsecured Credit Card
Requires a refundable deposit	✓	X
Can qualify with poor credit	✓	✓
Can come with rewards	✓	✓
Requires at least a minimum payment every month	✓	✓
Used to make purchases	✓	✓

Who Should Consider an Unsecured Credit Card?

Since there are plenty of unsecured credit card options available, they can suit the needs of many different types of consumers. If you’re in the market for a new credit card, here’s how to decide if an unsecured card is right for you.

The Budgeter

If you’re big on budgeting, you can use an unsecured credit card as a tool to help you as you make a budget and stick to it. Many credit issuers offer online statements or apps that can make it easy to track all of your spending right on your phone.

But, if you’re going to use your credit card for all of your spending, make sure to keep the interest in mind. While unsecured credit cards can help you budget, they can also hinder you if you get into the habit of overspending.

The Frequent Flyer

Do you love spending your time on the move? Many unsecured credit cards provide travel rewards that help you earn free travel experiences. For example, some cards can come with reward points or miles that you can use toward booking airfare or accommodations.

You may also receive additional perks like annual hotel credits, access to airport lounges, or discounts on flights when using miles.

The Business Owner

Unsecured credit cards are also useful for business owners. Business owners can capitalize on the perks of unsecured credit cards like rewards, sign-up bonuses, and other benefits. Also, an unsecured card can provide short-term funding for business growth. Plus, it can help businesses build credit for future financing endeavors.

Of course, benefits and terms will vary depending on the type of card you choose.

Typical Requirements to Apply for an Unsecured Credit Card

When you apply for an unsecured credit card, you must meet certain criteria to qualify. Some common requirements when applying for a credit card include:

• Be at least 21 years of age. While this is generally the age required to get a credit card, if you’re over 18 and can prove you have an income, you may qualify.

• Provide proof of income to demonstrate you can make the minimum payments.

• Be a U.S. citizen or have the authority to work in the U.S.

• Have an acceptable credit score range per the lender’s requirements.

• Provide personal information such as your name, age, address, Social Security number, and more.

Keep in mind that all credit issuers have different criteria for approval. Some credit issuers may give you the option to pre-qualify. This way, you can see if you may qualify without submitting a hard inquiry on your credit, which can impact your credit score.

The Takeaway

Unsecured credit cards can come with many perks, such as earning cash back rewards and helping you build credit. But, before you apply for just any old card, make sure to compare your options, keeping the average credit card interest rate in mind, and understand the criteria for approval. Identifying an unsecured credit card that’s suitable for your needs might take a little time, but it’s worth it.

Whether you’re looking to build credit, apply for a new credit card, or save money with the cards you have, it’s important to understand the options that are best for you. Learn more about credit cards by exploring this credit card guide.

FAQ

Is it good to have an unsecured credit card?

If you can handle an unsecured credit card responsibly, it can help you build credit. Also, it can be a good way to receive additional benefits, such as cash back or other rewards, for completing your daily transactions.

What credit score do I need for an unsecured credit card?

Typically, if you have a credit score of 579 or less, credit issuers may be reluctant to approve your application. To qualify for the most competitive rates and offers, you typically want to have a credit score of 670 or higher.

How long before I can get an unsecured credit card?

If you’re working on building credit and don’t qualify for an unsecured credit card, you may have to start with a secured card. But, the amount of time you must use your secured credit card before you graduate to an unsecured time can vary from a few months to several years. Ultimately, it will depend on factors like your current credit score and the criteria of the unsecured credit card you’re applying for.

Photo credit: iStock/Zhonghui Bao

Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.

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Source: sofi.com