The Robinhood Gold Card was unveiled in March 2024 by the investment app Robinhood and issuer Coastal Community Bank.
Made of stainless steel and weighing in at 17 grams, the card aims to keep up with fancy premium metal credit cards that offer lucrative benefits — and it can certainly deliver that, earning an industry-leading 3% cash back on most purchases. Historically, a 2% flat rate on everything has been as good as it gets for products in this class, especially among no-annual-fee cards like this one.
Still, there are hurdles to accessing the Robinhood Gold Card. First, you must be a Robinhood Gold member to qualify for it, and that’s not free — although with a 3% rewards rate, it won’t be difficult to offset that cost. Secondly, as of this writing, if you’re interested in applying you must “reserve your spot” online and wait for an invitation “when it’s time.” The card has been slowly shipping to those who joined that waitlist when it debuted, but the rollout has been uneven, and it’s not clear when applicants can expect to receive their cards.
And despite that juicy 3% rate, one thing you won’t get with the card? A lucrative sign-up bonus.
Here’s what you need to know about the Robinhood Gold Card.
1. It offers an uncommonly high rewards rate
As a cardholder, you’ll earn an uncapped 3% cash back on all purchases, aside from travel booking completed through Robinhood’s travel portal, which earns 5% back.
Rewards are issued as points you can redeem at a value of 1 cent apiece for a cash deposit into a Robinhood brokerage account, a statement credit, travel booked through Robinhood’s portal, gift cards purchased through the portal, and shopping with eligible retailers through the portal. To redeem points in these ways, you must have downloaded and installed the latest version of the Robinhood credit card app. (Note that the credit card app is separate from Robinhood’s primary investing app.)
A flat and unlimited 3% rate on most purchases is almost unheard of for cards like this, with the possible exception of some smaller banks and credit unions. That means rewards will accumulate faster if you use the Robinhood Gold Card to cover most purchases — as long as you pay off the card in full each month to avoid interest charges. With an APR that can range as high as nearly 30% (as of August 2024), carrying a balance on this card will be costly.
If you’re looking for cards with even higher rewards rates, you can find them, at least in certain spending categories. The U.S. Bank Cash+® Visa Signature® Card, for instance, gets you 5% cash back on your first $2,000 in combined eligible purchases each quarter in two categories you choose (from a list of 12); 5% back on prepaid air, hotel and car reservations booked directly in U.S. Bank’s Rewards Center; 2% back on an everyday category you choose; and 1% back on all other eligible purchases. It has a $0 annual fee and comes with a sign-up offer for new cardholders: Earn a $200 rewards bonus after spending $1,000 in eligible purchases within the first 90 days of account opening.
2. There’s a waitlist
Getting on the waitlist to reserve the Robinhood Gold Card doesn’t require much effort. You can visit the card’s website to get in line by providing your email address. No other information is required at that stage.
The company has begun rolling out the card to people on the waitlist who are Robinhood Gold members, but it has not yet provided a specific date as to when all applicants can expect their cards to arrive in the mail. It’s also unclear as to whether the waitlist will remain a requirement for all applicants.
If you don’t want to wait for a credit card with good rewards on everyday spending, consider other $0-annual-fee products like the Capital One SavorOne Cash Rewards Credit Card or Wells Fargo Active Cash® Card. The Capital One SavorOne Cash Rewards Credit Card offers 3% back on dining, eligible streaming services, grocery stores and entertainment, as well as 1% back on all other purchases. The Wells Fargo Active Cash® Card offers 2% cash back on all purchases.
3. A Robinhood Gold membership is required
The Robinhood Gold Card doesn’t have an annual fee, but you will have to be a Gold member to qualify for it, and that comes with a $5 monthly fee. If you opt to pay annually, the cost is $50.
The card’s 3% rewards rate alone makes it easy to offset the cost of that fee, and that’s before considering the other perks that Gold membership can offer, such as a 5% APY on uninvested cash, a 3% match on Robinhood retirement IRA contributions, a 1% deposit boost on new eligible deposits, and more. Terms apply.
4. Features increase safety and convenience for shopping
The Robinhood Gold Card offers a variety of helpful features — some not always available on other cards — that make it easier to manage your spending. As a cardholder, you can expect access to these options:
Virtual cards: The card comes equipped with disposable card numbers that may be used as virtual cards that provide an added security option when shopping online.
Options to simplify free trials and subscriptions: The card offers a way to cancel subscription payments, end free trials automatically, and authorize cards for one-time use.
Family-friendly features: You can add up to five family members to the account as cardholders, regardless of their age. Everyone added receives their own card, and you can set spending limits, track their spending and lock lost cards instantly.
An app with helpful visuals: You’ll manage the card in an app that, again, is separate from Robinhood’s main investing app. Through the app you can get a financial overview of your spending patterns, real-time spending insights and more.
5. Travel-friendly features
While the Robinhood Gold card can be an ideal cash-back credit card, it also has elements of a decent travel credit card. In addition to the 5% back on travel through Robinhood’s travel portal, the card offers a lengthy list of travel benefits, and it doesn’t charge foreign transaction fees.
As of August 2024, you’ll get trip interruption reimbursement, an auto rental collision damage waiver, extended warranty protection, return protection, roadside dispatch, travel and emergency assistance, Visa Signature concierge service, and purchase security. As is the case with any credit card, though, these benefits may change over time.
If, however, you want a truly travel-focused card with more perks, consider the $95-annual-fee Chase Sapphire Preferred® Card. It earns 5 points per dollar spent on all travel purchased through Chase; 3 points per dollar spent on dining, select streaming services and online grocery purchases; 2 points per dollar spent on travel not purchased through Chase; and 1 point per dollar spent on all other purchases. The card also comes with a $50 annual credit on hotel stays purchased through Chase, plus points take on more value when you redeem them for travel through Chase. On top of that, you’ll get access to multiple travel partners, which can help your points go further. And unlike the Robinhood card, there’s a generous sign-up bonus: Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $750 when you redeem through Chase Travel℠.
Credit scores measure your financial health at a given point in time. Ideally, your score increases as you build your credit history, so a sudden decline can leave you wondering why.
Several things can cause a credit score to fall 100 points (or more), and late payments are often at the top of the list. Here’s a closer look at why credit scores decrease.
Why Did Your Credit Score Drop 100 Points?
A credit score can drop by 100 points or more when there’s a significant change to your credit reports. Possible reasons for a credit score drop of 100 points or more include:
• Late payments
• Missed payments
• High balances relative to your credit limits
• Reduced credit limits
• Delinquencies and collection accounts
• Bankruptcy filing
• Foreclosure or repossession
• Judgments
• Multiple inquiries for new credit in a short timespan
• New credit accounts in your name1
These types of items can drag your score down. Paying off loans or closing credit card accounts can also cost you credit score points, even though you might consider them positive financial steps.
Identity theft and fraud can trigger a sizable drop in your credit score as well. If someone uses your identity to obtain loans or open lines of credit without your knowledge, that could leave you vulnerable to late or missed payments, delinquencies, and collection actions. A money tracker app can help you keep tabs on your credit score, and you’ll also get updates when it changes.
Track your credit score with SoFi
Check your credit score for free. Sign up and get $10.*
Should You Be Worried About Your Credit Score Dropping?
A credit score drop can be worrisome, especially if you weren’t expecting it. You may have cause for concern if you:
• Plan to apply for a mortgage or another type of loan soon
• Would like to refinance an existing debt that you have at a lower interest rate
• Suspect that someone may be using your identity to obtain credit fraudulently
Fluctuating credit scores could make it more difficult to get approved for new loans. If you are approved, a lower score could result in a higher interest rate.
Identity theft is a more serious matter. You may not even be aware that someone is using your identity to obtain credit in your name until you’re denied credit, or worse, sued for an outstanding debt you didn’t create.
Reasons Your Credit Score Went Down
Why did my credit score drop by 100 points for no reason? The short answer is that it didn’t. There must be some change to your credit report to result in a score decline.
Changes that can show up on your credit reports include:
• New accounts opened in your name
• Account closures
• Changes to your balances or credit limits
• Payment activity, including late payments or missed payments
• Delinquencies and accounts that are sent to collections
• Paid off balances
• Debt settlements, in which your creditors agree to let you pay off less than what you owe
• New inquiries for credit1
Inaccurate information can also harm your credit. Between 2021 and 2023, consumer complaints about credit report errors increased by 168%, according to the Consumer Financial Protection Bureau (CFPB). Credit report errors can range from payments being incorrectly reported to accounts listed as belonging to you that are not yours.2
In some cases, a credit score drop might be caused by someone else. This can happen when you cosign a loan for someone. As the cosigner, you’re legally responsible for the debt. Any activity relating to the account, including late or missed payments, can show up on your credit report.3
What Can You Do If Your Credit Score Dropped by 100 Points?
If your credit score drops by 100 points or more, the first thing to do is determine why. Obtaining copies of your credit reports can shed some light on what may be causing the decline.
Here are some things to look for as you review your reports:
• Missing or incorrect payment history
• Incorrect balance information
• Accounts that don’t belong to you
• Collections for debts that don’t belong to you
• Loan accounts you’ve paid off that still show a balance
• Open accounts that are listed as closed or vice versa
• Duplicate debts, meaning the same account is listed multiple times
If you identify what you believe is an error or inaccuracy, you have the right to dispute it with the credit bureau that’s reporting the information. Equifax, Experian, and TransUnion — the three major credit bureaus — all allow you to initiate credit report disputes online.4
Why did my credit score drop over 100 points when there were no errors? That’s trickier to answer, as it depends on the information in your credit file. If there are no errors or inaccuracies, then you’ll need to consider things like payment history, credit limits, and debt balances to see if they’ve had any impact on your score.
Examples of Credit Score Dropping
Hopefully, you never have to deal with a major credit score drop. But it may help to have some examples of what can cause your score to go down.
• You’re ready to buy a home and are shopping for a mortgage lender. You find the one you want to work with and apply for a loan. You’re approved, but the new inquiry and associated debt on your credit reports lead to a score drop.
• You cosign a car loan for your niece, on the promise that she’ll make the payments on time. She loses her job but doesn’t tell you and the loan payments go unpaid for six months. The lender repossesses the vehicle, which lands on your credit report and costs you credit score points.
• You make the final payment to your student loans. The account is now listed as closed and paid in full on your credit reports, but it lowers your score.
Again, not all things that lead to a credit score drop are negative. Paying off debt, for example, is something to celebrate even though it can ding your credit to a degree.
How to Build Credit
How long does it take to build credit? There’s no simple answer, as it can depend on what you’re doing (or not doing) to recover lost credit score points.
Some of the most effective strategies for building credit include:
• Paying bills on time to establish a positive payment history
• Keeping the balances on your credit cards low or paying in full each month
• Paying down debt that you already have
• Periodically requesting credit limit increases from your credit cards (but not running up new debt against them)
• Leaving older credit accounts open, even if you don’t use them
• Using different types of credit, such as loans and credit cards
• Limiting how often you apply for new credit
You can also build credit as an authorized user on someone else’s credit card. Authorized users have charging privileges on the card and account activity will show up on their credit reports, but they’re not legally responsible for the debt.5
Having a checking or savings account typically doesn’t affect credit scores. Banks can, however, report negative activity related to closed accounts to ChexSystems, a consumer credit reporting agency. A negative ChexSystems report could make it difficult to get approved for a new bank account.
Allow Some Time Before Checking Your Score
If you recently checked your credit following a score drop, you may want to wait a while before checking it again. Credit scores change when there’s new information added to your credit reports, whether it’s something positive or negative.
It may be helpful to check your credit monthly or quarterly if you’re working on rebuilding your score. That way, you can track your progress against any steps you’re taking to improve your score to see what’s working.
At a minimum, it’s a good idea to check your credit at least once annually. That can allow you to see what’s changed over the last year and look for any suspicious or potentially fraudulent activity.
Pro tip: Use a free credit monitoring service to get regular credit score updates.
Recommended: How to Check Your Credit Score Without Paying
Closing a Credit Card Account Can Hurt Your Score
Closing credit cards can hurt your score if you still owe a balance at the time you close the account. Your credit utilization ratio measures how much of your available credit you’re using. When you close a credit card with a balance due, you automatically increase your credit utilization ratio.6
For example, let’s say you have a combined credit limit of $20,000 across five credit cards. You owe $6,000 in total debt to your cards, which makes your credit utilization ratio 30% ($6,000 / $20,000 = 0.3).
Now, assume that you owe $5,000 to one card alone. That card has a credit limit of $10,000. You close it, cutting your total credit limit in half. Now you have a credit utilization ratio of 60% ($6,000 / $10,000 = 0.6).
Some experts say that 30% or less is an ideal credit utilization ratio to aim for, while others target 10% instead. The main thing to remember is that the lower your credit utilization is, the less harmful changes can be to your score.
In terms of how to lower credit utilization, you can do so by paying down credit card balances and/or increasing your credit limits.
What Factors Impact Credit Scores?
If you’re wondering what affects your credit score, it’s not just one thing. FICO credit scores, which are the most commonly used among top lenders, are determined by five factors.
• Payment history: 35% of your score
• Credit utilization: 30% of your score
• Credit age: 15% of your score
• Credit mix: 10% of your score
• Credit inquiries: 10% of your score7
VantageScores are based on some of the same factors, though they’re calculated differently. The VantageScore model was developed by the credit bureaus as an alternative to FICO scores.
Pros and Cons of Tracking Your Credit Score
Tracking your credit score can be beneficial but there are some potential downsides. Here’s a quick look at the advantages and disadvantages.
thumb_upPros:
• Monitor your progress over time
• Get to know which factors are helping or hurting your score the most
• Easier to spot suspicious activity or potential fraud
thumb_downCons:
• You may feel frustrated if your score isn’t climbing as quickly as you’d like
• Checking your score too often could cause you to obsess over even minor changes
• Keeping up with multiple credit scores could get confusing
Recommended: Why Did My Credit Score Drop After a Dispute?
How to Monitor Your Credit Score
Credit score monitoring services make it easy to track your credit scores and get notifications when there’s a change to your credit report. SoFi, for instance, offers free weekly credit score updates and access to a certified financial planner if you have questions about credit score changes.
Regardless of which service you use to monitor your credit, keep track of changes as they’re reported. Specifically, look at which changes are positive and which are negative. That can guide you toward what you might need to do to improve your score.
The Takeaway
Seeing your credit score drop by 100 points or more can be disheartening, but it’s not the end of the world. There are things you can do to get your score back on track.
Tracking your money is a good place to start. Tools like a spending app connect all of your accounts in a single dashboard so you can understand the factors that are influencing your credit scores. You can also check your scores for free. It’s a simple way to take charge of your financial health while you work on building good credit.
Take control of your finances with SoFi. With our financial insights and credit score monitoring tools, you can view all of your accounts in one convenient dashboard. From there, you can see your various balances, spending breakdowns, and credit score. Plus you can easily set up budgets and discover valuable financial insights — all at no cost.
See exactly how your money comes and goes at a glance.
FAQ
Why did my credit score drop 100 points when nothing changed?
It may seem as if nothing has changed on your credit reports, but there must be some type of change for your score to be affected. If your score dropped, take time to review your credit reports thoroughly. Even a seemingly minor change, such as a new credit inquiry, could make a dent in your score.
Why is my credit score going down if I pay everything on time?
Paying bills on time can help add points to your score, but it might still go down if you have a high credit utilization or apply for new credit frequently. Closing accounts could also hurt your score, even if you pay on time. Using a spending app to track bills and expenses can help you stay on top of your due dates.
How to dispute a credit score drop?
You can’t dispute a credit score drop, but you can dispute the information on your credit reports that you believed caused the drop. Keep in mind, however, that disputing credit report information isn’t guaranteed to improve your score.
Photo credit: iStock/kate_sept2004
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.
Disclaimer: Many factors affect your credit scores and the interest rates you may receive. SoFi is not a Credit Repair Organization as defined under federal or state law, including the Credit Repair Organizations Act. SoFi does not provide “credit repair” services or advice or assistance regarding “rebuilding” or “improving” your credit record, credit history, or credit rating. For details, see the FTC’s website .
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.
Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.
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There are several explanations for why your credit score might fluctuate by a few points now and then. But if you’ve noticed that your score is down by as many as 20 points, and you can’t think of any reason for this dramatic drop, it’s a good idea to do some checking ASAP. This can help you determine what affected your score and what you should do about it.
Read on for some common reasons why your credit score could unexpectedly drop by 20 points, and how you can improve and protect your score going forward.
Track your credit score with SoFi
Check your credit score for free. Sign up and get $10.*
Why Did Your Credit Score Drop 20 Points?
The fact that you even noticed that your credit score took a dip is proof that you’re paying attention to your finances, so give yourself a high five for that. If there’s a problem — a credit reporting error, for example, or possibly identity theft — you’ve got a head start on getting it fixed. And if it’s something you did without knowing it could impact your score (at least not by this much) you can resolve to do better in the future.
Even if you’re doing everything right — including paying bills on time, keeping low credit card balances, and using credit score monitoring to track how you’re doing — you can’t always know from month to month what will happen to your credit score. That’s because credit scoring systems like FICO® Score and VantageScore® use information from a credit report to assess your creditworthiness and assign it a number from 300 (the lowest score) to 850 (the highest).
If the information in your credit reports is up to date and correct, your credit score will reflect that. But it’s up to each individual lender to decide when or even if it will report information to the three major credit reporting agencies: Equifax, Experian, and Transunion. And sometimes the reports can be incomplete or incorrect. If that’s happened to you, your score may drop, or it may not be as high as you think it should be.
What Factors Impact a Credit Score?
FICO® and VantageScore® use different formulas to calculate credit scores, but the same basic factors from your credit report can move your score up or down. And some things can have a bigger influence on your score than others.
Here’s how FICO® breaks down what affects your credit score:
• Payment history (35%): Your record of paying your bills late or on time can have the biggest impact on your FICO® Score. A spending app can help you keep tabs on upcoming bills.
• Amounts owed (30%): Even if you’re managing it well, carrying a lot of debt could affect your score. This category applies to the amount you owe overall, but it puts a priority on your credit utilization. Lenders generally like to see a credit utilization rate of 30% or lower.
• Length of credit history (15%): This category looks at the age of your oldest account, the age of your newest account, and the average age of all your accounts together.
• Credit mix (10%): Lenders also may want to see that you, as a borrower, can handle different types of financing, including credit cards, installment loans, retail accounts, and mortgage loans. So FICO® includes this in its credit scoring formula.
• New credit (10%): When you apply for some type of financing, whether it’s a new credit card or a new car, the lender may make what’s known as a hard credit inquiry, which could cause a dip in your score. The drop is typically small and temporary, but you might notice a bigger change if you make several credit applications at around the same time.
Should You Be Worried About Your Credit Score Dropping?
It’s normal to feel frustrated and concerned if your credit score drops suddenly, especially if you don’t understand what happened. But the good news is, it can be pretty easy to find out what’s up. If your financial institution, credit card company, or your favorite money tracker app offers you a way to get your credit score regularly, you may have access to a brief summary that explains what caused that number to go up or down. This can be a good place to start looking for clues as to why your score dropped by 20 points.
It’s also useful to know how to read a credit report so you can get the information you need to catch errors or spot identity theft. This can help you get to the bottom of what’s affecting your score and take steps to get that number back in line with what you think it should be. You have the right to request a free copy of your credit report from each of the credit bureaus once a year by visiting AnnualCreditReport.com.
Reasons Your Credit Score Might Go Down
It could be that something you did (or didn’t do) caused your score to drop, and you might not even know it. Maybe you closed an old account that you didn’t use anymore, or maybe you applied for a loan or new credit card. It’s also possible that you have an old unpaid balance hanging out there that you thought was cleared up but isn’t.
Examples of Credit Score Dropping
A combination of several factors could explain why your credit score seems to have suddenly and randomly dropped by 20 points. Here are some examples of why a credit score can go down:
You’re Using a Large Percentage of Your Available Credit
Are you close to maxing out all the credit you have available to you? Did you recently make a large purchase with your credit card that pushed you close to your credit limit? Even if you’re paying your bills on time, if your credit utilization rate is higher than 30%, it could explain a reduction in your credit score.
You Closed an Old Credit Card Account
It may seem counterintuitive (and super frustrating) that canceling a credit card can have a negative effect on your credit. But there are a couple of reasons why closing a credit card account can lower your credit score.
First, when you cancel a card, you reduce your available credit, which can cause a jump in your credit utilization rate. Second, closing an older account can affect the length of your credit history, which is another factor that goes into determining your credit score. It may make sense to close the account anyway if the card has high fees or if it’s hard to resist overspending. But if you do cancel a card, especially one you’ve had for a while, you can expect to see a temporary drop in your credit score.
You Made a Late Payment
Maybe you simply forgot to pay a credit card bill. Or maybe you failed to make a payment in a month when money was tight and figured you’d play catch-up with a bigger payment the next time. Either way, if the credit card company reported your late payment to a credit reporting agency, it could be the reason your credit score dropped. Remember: Payment history is the biggest factor in calculating your credit score.
You Made the Final Payment on an Installment Loan
When it comes to determining your credit score, your “credit mix” isn’t as big of a factor as your payment history or the amount of available credit you have. But if you recently paid off a car loan, personal loan, or some other type of installment loan — and your credit mix is now limited to just credit card debt — it could have an affect on your score.
That doesn’t mean you shouldn’t celebrate your accomplishment or that you should run out and apply for another loan. But it could help explain why your credit score is lower than you think it should be.
What Can You Do If Your Credit Score Dropped by 20 Points?
There are a few steps you may want to consider taking right away if you notice a big drop in your credit score.
Review Your Credit Reports
If you find an error on your credit report, such as a payment incorrectly reported as late, the Consumer Financial Protection Bureau (CFPB) recommends filing a formal dispute, in writing, with both the credit reporting company and the entity that provided the information (such as a credit card company). By law, the credit reporting company must investigate your dispute and notify you of its findings.
If you notice signs that you may be the victim of identity theft (such as unknown accounts or unfamiliar debt), you may choose to alert the credit bureaus. You can also report identity theft on the Federal Trade Commission’s site, IdentityTheft.gov.
Prioritize Timely Payments
The biggest factor in determining your credit score is your payment history, so keeping track of your bills is important. If payment deadlines tend to get away from you, you may want to set up online bill pay to reduce your bill-paying burden. Or you can put payment due dates on a physical or digital calendar, then set up alerts on your phone so you know it’s time to pay.
When you pay a bill, be sure to note the details, such as the date, amount, and confirmation number if paid online.
If You Can, Delay Applying for New Credit
You may want to wait until your credit score comes back up a bit before applying for a new credit card or loan. If you want to get the best interest rate or you’re worried about getting approved, you’ll want your credit to be shipshape. It also can be a good idea to avoid authorizing several companies to do a hard credit pull if you’re shopping for a mortgage, car loan, or credit card.
How Can You Build or Repair Your Credit?
If you’ve been working to improve your creditworthiness, even a small dip in your credit score can be disappointing. But you don’t have to let a negative fluctuation deter you from your goal.
How can you continue to build your credit? Besides paying your bills on time, managing your credit utilization, and having a good credit mix, you also can help lenders see that you’re a good risk by paying down high-interest debt — and keeping it paid off.
How Can You Monitor Your Credit Score?
There are several ways you can check your credit score without paying. Many credit card companies and financial institutions offer free credit reporting and scoring as a benefit to cardholders. (You may have to opt-in to begin receiving this service). If your personal information was compromised in a data breach, you may be offered free credit monitoring for a specific period of time. You also can pay for a credit monitoring service to get regular updates.
Allow Some Time Before Checking Your Credit Score?
Though credit score updates can occur at any time, checking about once a month should provide a good gauge of how you’re doing. (You can check your own credit score any time you like without any negative impact.)
If you get a free credit score from your bank or credit card, you’ll probably receive a new score monthly. With a credit monitoring service, on the other hand, you may receive an alert any time there’s a significant change in your score or some type of suspicious activity.
Pros and Cons of Tracking Your Credit Score
Tracking your credit score can help you protect your credit and may provide added incentive to keep working on your financial health. Here are some pros and cons to consider:
thumb_upPros:
• Tracking your score can help you spot a problem or possible fraud or theft so you can quickly take action.
• If you plan to apply for a credit card, mortgage, or some other type of loan, you’ll have a better idea of what your creditworthiness looks like to lenders. Your score helps lenders decide if you’re a risky borrower or a fairly safe bet.
thumb_downCons:
• If you know that even small fluctuations in your score will make you nervous, you may want to limit how often you check it.
• It may take a while before your score reflects the good (or bad) moves you’ve made. You may want to allow at least one full billing cycle to pass before checking on why your number didn’t move even though you expected it to.
Recommended: Why Did My Credit Score Drop After Dispute?
The Takeaway
A 20-point drop in your credit score can be worrisome. But there are several steps you can take to determine what caused such a significant change and then try to fix it.
It also can be helpful to be proactive instead of reactive when it comes to your credit score. By paying attention to the factors that can have the biggest impact on your credit, such as your payment history and credit utilization, you can keep working to build and protect your credit.
Take control of your finances with SoFi. With our financial insights and credit score monitoring tools, you can view all of your accounts in one convenient dashboard. From there, you can see your various balances, spending breakdowns, and credit score. Plus you can easily set up budgets and discover valuable financial insights — all at no cost.
See exactly how your money comes and goes at a glance.
FAQ
Why did my credit score drop 20 points randomly?
It may seem as though your credit score dropped randomly, but there’s usually something behind a dip of 20 points or more — and it’s worth looking into. It could be a late payment, an error on your credit report, a sign of identity theft, or some other reason.
Why did my credit score drop and I don’t know why?
A change in your credit score reflects a change in a credit report. It may be that you made a late payment and you didn’t think your credit card company would report it. Or maybe you made a major purchase that changed your credit utilization rate. If you’re concerned, you may want to check your records against your most recent credit reports.
Is it normal for a credit score to drop 25 points?
A credit score can drop for many reasons. Though a 25-point dip is something you’ll probably want to check into (if you can’t figure out why it happened), there are steps you can take to dispute information in your credit report and repair your credit score.
Photo credit: iStock/milan2099
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.
Disclaimer: Many factors affect your credit scores and the interest rates you may receive. SoFi is not a Credit Repair Organization as defined under federal or state law, including the Credit Repair Organizations Act. SoFi does not provide “credit repair” services or advice or assistance regarding “rebuilding” or “improving” your credit record, credit history, or credit rating. For details, see the FTC’s website .
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.
Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.
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.
Lowering your debt to improve your credit score means that you are considered less of a risk to a lender. And with a higher credit score, you will qualify for better financing terms. However, in some cases, paying off a car loan or other type of financing can have the opposite effect and actually lower your credit score.
Here’s a look at why your score could suffer if you pay off a loan. We also look at how you can avoid a drop in your credit score when your financial situation changes.
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Why Did My Credit Score Fall After Paying Off My Car?
A credit score drop could be a direct result of paying off a car loan — or a completely unrelated reason. For example, if you apply for a loan or new credit card, the lender may do a “hard pull” to check your credit score. Too many credit checks within a short period could cause a temporary drop in your credit score, even if you don’t sign for the loan.
If you pay off a car loan, the loan will remain on your credit report for up to 10 years. As long as you always make your payments on time, the loan will continue to have a positive effect on your credit history. Newer accounts, however, have more of an impact on your credit score. So, if you close an old account that you dutifully paid off, your current credit standing could worsen because your regular payments to that old account are no longer taken into consideration.
In addition, when you pay off a car loan, your credit mix changes because you now have one less account in your name. This change can lead to a drop in your credit score.
Let’s take a closer look at factors that affect a credit score and how paying off a car loan can impact them.
Credit Score Contributing Factors
Auto loan lenders typically look at your FICO™ Score or your VantageScore. We’ll focus on the FICO Score because it’s probably the most popular. Four main factors make up your FICO credit score with varying weights. Here’s a look at each of them.
Payment History
Your payment history makes up 35% of your FICO Score, and it is a measure of how likely you are to pay back your debts. The score looks at whether you pay your credit card bills, your mortgage, and any installment loans on time. A few late payments on credit cards or a mortgage won’t ruin your score, but any bankruptcies or collections may. If you need help spotting upcoming bills and managing payments, tools like a money tracker app can help.
Credit Utilization
Your credit utilization rate makes up 30% of your FICO Score. This is the amount of revolving credit versus the total amount of credit available to you. The lower your utilization percentage, the better your credit score because it shows you are not maxing out your credit — so you’re better able to pay back a lender.
Your total available revolving credit includes the amount you can spend on credit cards and lines of credit like home equity lines of credit (HELOCs). Your credit utilization rate is based on the numbers on your credit report, and this data may lag behind your current limits and balances by a month or more.
A car loan has no impact on your credit utilization rate. However, it can affect your total debt and your debt-to-income ratio.
Length of Your Credit History
The length of your credit history accounts for 15% of your FICO Score. A longer credit history will have a positive effect on your FICO Score. Your credit history takes into account how long your credit accounts have been open, including the age of your oldest account, the age of your newest account, and the average age of all your accounts. So when you close an older credit card account, you may see a drop in your score — regardless of whether you’ve paid off your car loan.
Credit Mix
Your credit mix is the type of credit you have — for example, credit cards, mortgage, HELOCs, installment loans, student loans, and car loans. Your credit mix accounts for 10% of your FICO Score. If you are successfully managing a variety of financing types, it will be reflected in your FICO Score. After you pay off a car loan, your credit mix decreases, and your credit score may dip as a result.
New Credit Card Applications
When you apply for a new credit card, the provider will do a hard inquiry on your credit score that could cause it to dip slightly. A new account will reduce the average age of your accounts, which could also lower your score.
On the other hand, a new credit card account will increase the amount of credit available to you, which might lower your credit utilization rate. It might also diversify your credit mix, and if you make payments on time, it could build a stronger payments history.
Recommended: 8 Reasons Why Good Credit Is So Important
How to Pay Off Debt and Help Your Credit Score
Paying off debt should boost your credit score, but in some cases, it can damage it. For example, if you pay off debt and close credit card accounts, you may not be able to demonstrate to the credit bureaus that you make regular payments and practice responsible fiscal management.
Here are some ways to pay off debt that are unlikely to lower your credit score.
• Pay due amounts on time. Your payment history is the most important component of your credit score. You can improve it by paying off your credit card balances in full each month and also paying your mortgage on time.
• Pay off high-interest debt. High-interest credit cards can trap you in a spiral of debt if you don’t pay off the balance each month. Pay off these cards first so you reduce the likelihood that you will fall behind on payments and rack up interest charges. This will benefit your credit score because lenders will consider you less of a risk.
• Pay off debt with cards with low credit limits. If you are maxing out the credit limit on a card with a low credit limit, your credit utilization rate may be high because you have more debt than you have accessible credit. That makes you a high risk to a lender and will reduce your credit score.
Try to keep your credit utilization rate below 30%, and ideally around 10%. By paying off credit card debt with a low credit limit, you reduce your debt load but maintain access to the credit, improving your credit utilization rate.
• Pay off your student loans (maybe). Paying off your student loans may or may not be beneficial. It will reduce your debt-to-income ratio; however, regular student loan payments contribute to a healthy payment history. Also, student loans add diversity to your debt mix, so paying off this type of installment loan might negatively impact your credit score.
• Pay any past-due bills. Paying off old debts that are late shows lenders that you pay what you owe. Pay the most recent bills first.
How Do I Keep My Credit Score From Dropping?
Practicing good fiscal management will help keep your credit score from dropping. Keep in mind that closing old credit card accounts and paying off some debts may backfire. Maintain a credit utilization rate that’s below 30%, and most importantly, pay your bills on time.
How Long Does It Take for Your Credit Score to Improve After Paying Off Debt?
Paying off debt may not necessarily improve your credit score, and your score may show a decrease initially. However, in most cases, your score should reflect a better credit utilization ratio in one or two months.
Keep in mind that a car loan has no impact on your credit utilization score.
Recommended: How Often Does Your Credit Score Update?
Ways to Increase Your Credit Score After Paying Off a Loan
If your credit score dropped when you paid off a car loan or other loan, do some research to find out why. Then, there are various things you can do to remedy the situation and build back credit.
• Avoid late payments. Setting up automatic payments and using a spending app can help you to avoid missed payments.
• Check your credit utilization rate. Check that by paying off a debt and closing an account, you have not raised your credit utilization rate to over 30%. Aim to spend no more than 10% of your total available credit.
• Avoid closing out older credit accounts. Keep older credit accounts open, even if you never use them. This will lengthen your credit history.
• Limit new credit inquiries. Be careful when shopping for new credit cards or loans. Hard inquiries by lenders within a short period (around 14 days) will lower your credit score. Try to find lenders that will prequalify you for financing without a hard inquiry.
• Improve your credit mix. Try to use both credit cards and installment loans responsibly by making regular, timely payments.
However, remember that a variety of loan types will only have a small impact on your credit score. It’s not advisable to take on extra debt just to fulfill the need for a diverse credit mix.
How to Monitor Your Credit Score
When it comes to credit score monitoring, you have plenty of options.
Federal law allows you to view a free copy of your credit report from each of the three national credit bureaus (Experian, TransUnion, and Equifax) at AnnualCreditReport.com.
You can also use a credit score service. Some sites provide a free credit score to users. Others may provide credit scores if you pay a monthly subscription fee.
Some credit card companies, banks, and lenders have started to provide credit scores for their customers. Check your statement, or you may be able to access it online after logging into your account.
If you find information you believe is inaccurate or incomplete on your credit reports, you can also file a dispute with the credit bureau that provided the report.
The Takeaway
Paying off a loan, such an auto loan, can have an unexpected negative effect on your credit score. This may be because of a decrease in your credit mix, a change in the length of your credit history, or another factor that contributes to your credit score.
It’s important to monitor your credit report and your credit score and understand why any changes occur. That way, if your credit score drops, you can take steps to remedy the situation, such as paying off the balance on credit cards, improving your credit mix, and watching that your credit utilization rate stays below 30%.
Take control of your finances with SoFi. With our financial insights and credit score monitoring tools, you can view all of your accounts in one convenient dashboard. From there, you can see your various balances, spending breakdowns, and credit score. Plus you can easily set up budgets and discover valuable financial insights — all at no cost.
See exactly how your money comes and goes at a glance.
FAQ
Why did my credit score go down after paying off my car?
If you pay off a car loan, the loan will remain on your credit report for up to 10 years, and as long as you always make your payments on time, the loan will continue to have a positive effect on your credit history. If you remove that loan, your current credit standing could worsen because you have less of a credit history.
How long does it take for your credit score to go up after paying off my car?
In most cases, your score should go up in one or two months if other factors do not come into play, such as a limited payment history or closing an unrelated credit account.
Why is my credit score going down even though I pay on time?
A change in your credit history could cause your credit score to drop. For example, if you apply for new loans or credit cards within a short timeframe, the hard checks conducted by lenders may cause a temporary drop in your score even if you don’t sign for the loans. Also, if you close out old credit cards, you could be shortening your credit history, which will lower your credit score.
Photo credit: iStock/milan2099
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.
Disclaimer: Many factors affect your credit scores and the interest rates you may receive. SoFi is not a Credit Repair Organization as defined under federal or state law, including the Credit Repair Organizations Act. SoFi does not provide “credit repair” services or advice or assistance regarding “rebuilding” or “improving” your credit record, credit history, or credit rating. For details, see the FTC’s website .
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.
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.
Charleston, South Carolina, often evokes images of historic homes, charming cobblestone streets, and world-renowned Southern cuisine. While popular spots like the Battery and Rainbow Row are must-sees, this vibrant city is also home to many lesser-known treasures that offer a more intimate glimpse into its rich history and culture. Whether you’re a long-time resident or are looking to buy a home, rent an apartment, or find a rental home in Charleston, you’re sure to find something to add to your list beyond the usual tourist attractions in this Rent. guide.
1. Shop ’til you drop
Charleston is known for its vast array of shopping and boutiques. “Hermosa Jewelry is a southern jewelry brand, local to Charleston, that specializes in versatile jewelry that magnifies your beauty and confidence. They are known for being the pioneers of bringing the permanent jewelry trend to the Charleston shopping scene. With a store downtown and in Mount Pleasant, they are the go-to gift shop for Lowcountry ladies to accessorize,” shares Mia Benvenuto with Hermosa Jewelry.
“In the heart of Charleston’s famed shopping district, Savannah Bee Company is a charming store that offers honey gifts and daily honey tastings, luxury body care all made from hive ingredients, and mead flights to cool you off on your walk down King Street,” notes Alexa Sims with Savannah Bee Company. “Famous for its immersive shopping experience and friendly, informative staff, Savannah Bee Company is a must-do stop on your tour of Charleston.”
2. Experience Lowcountry cuisine
It’s hard to beat food in the southeastern U.S., especially in the Lowcountry. “Charleston has plenty of restaurants to choose from, all of which have great seafood dishes to enjoy,” shares Jason Shamis with Quartermaster Properties. “With the draw of people to the Lowcountry based on history and especially seafood, small local restaurants are always the best to get the fresh local seafood taste that big chains can’t give you. We love the Marina Variety Store which provides a laid-back environment along with some of the freshest-tasting seafood around! Go check it out and you may even run into some local celebrities,” Shamis recommends.
3. Sip ‘n sit, the southern way
Embrace the Southern way of life by doing some outdoor wining, dining, and easy listening. “One spot we’d recommend is the Elliotborough Mini Bar, a cozy and eclectic bar nestled in the heart of the Elliotborough neighborhood,” Tim Sumer with CHS Thrive suggests. “This local favorite offers a laid-back atmosphere, unique craft cocktails, and live music, making it a perfect spot for both locals and visitors looking to experience Charleston’s vibrant nightlife away from the usual tourist spots,” Sumer says.
Also recommended by CHS Thrive, Charleston Tea Garden, located on picturesque Wadmalaw Island is a delightful, off-the-beaten-path experience for both tea enthusiasts and casual visitors. “Just a 30-minute drive from downtown Charleston and sheltered under acres of live oaks, Wadmalaw Island is refreshingly unpopulated and authentically local realm of the low country and home to a unique visitor experience,” shares Dijana Avramovic with UAS International Trip Support.
“The Charleston Tea Garden is located on America’s only tea farm. The garden continues a legacy that began in the late 1800s and offers visitors a charming experience touring the tea fields, learning about the traditional tea production process, and exploring the beautiful factory. The serene setting and educational experience make it a delightful and under-the-radar gem for those looking for something unique and off the beaten track.”
4. Take a boat tour
When you’re in a beach town like Charleston, getting out on the water is a must-do activity. “Blue Life Charters offers luxury private boat tours in Charleston Harbor,” explains Wit Morris, owner and captain of Blue Life Charters. “Enjoy personalized daytime or sunset cruises on state-of-the-art vessels. All tours are BYOB and provide exceptional onboard service. Experience breathtaking views, iconic landmarks, and local wildlife. Perfect for couples, families, and small groups,” Morris concludes.
5. Indulge in a range of bites
“Located in downtown CHS, Sushi-Wa is a neighborhood intimate omakase experience featuring edomae-style sushi that leaves you feeling full and adventurous,” shares Hanna Geiger with Hanna Geiger Real Estate. “Seating is very limited, so you’ll need to book online — reservations open only 30 days in advance. It’s likely it will sell out, so you can join the waitlist and be notified of any cancellations, but you’ll need to act quickly when you get that notification. Sushi-Wa is open Wednesday through Sunday, with reservations available for parties of up to four. You can BYOB or opt for their sake pairing to complement your meal,” Geiger notes.
Another great eatery option is Cru Café. “A hidden gem in downtown Charleston since 2002, executive chef and owner John Zucker delivers a gourmet twist to traditional comfort food,” Jasmine Powell shares. “Housed in a classic 18th-century Charleston single-style home, Cru Café is consistently known for its elevated approach to its culinary program, drawing inspiration from Italian, Asian, Southern, Southwestern, and Caribbean fare. In recent years, Cru Café has expanded its seating options to include a quaint “backyard” patio, where guests can dine al fresco while listening to the soft clip-clop of nearby horse carriages.”
6. Get your adventure on
Perfect for families and outdoor lovers alike, Wild Blue Ropes is a must-see stop. “Perfectly positioned between historic downtown Charleston and Folly Beach, this amazing outdoor adventure park features a great selection of outdoor activities for individuals, families, businesses, and schools,” Jacqueline Corcoran with Wild Blue Ropes recommends. “From climbing to laser tag, team building to parties, Wild Blue Ropes has what it takes to put a bounce in your step and a smile on your face.”
7. Take a trip to Old Village
“Charleston’s crown jewel is a hidden gem, Old Village, Mount Pleasant — where the day-to-day rhythms of local culture intertwine with rich history,” shares Rebellion Roads eBike Rentals & Tours staff. “Cruise along Pitt Street to Pitt Street Bridge for unforgettable sunsets & harbor views of Downtown. Explore Shem Creek’s vibrant waterfront, filled with charming eateries and a lively atmosphere. Shop and dine in the Old Village Business district as you wander through the historic streets, where George Washington once visited. Don’t miss this timeless place and see it all with Rebellion Roads eBike Rentals & Tours.”
Image courtesy of The Palmetto and JB McCabe
8. Experience the luxury of a boutique hotel
Treat yourself to a luxury hotel stay in Charleston. “The Palmetto is a charming boutique hotel in the heart of the French Quarter. The cozy Lobby Bar is a favorite among locals and hotel guests alike, serving up arguably the city’s best espresso martini,” shares Palmetto Hotel’s Director of Sales and Marketing, Shannon Hartman. “Insider tip: In true Southern fashion, use the secret password phrase “Bless Your Heart” for a little surcee (a local term for a “just because” gift) from your bartender.”
9. Delve into Charleston’s haunted history
As spooky season approaches, take a tour of Charleston’s more haunted history, which has served as inspiration for countless Southern Gothic tales. “Stories in the Cemetery provides an interactive ghost-hunting experience where guests are the ghost hunters using real paranormal equipment. All guests receive all recorded media and a scientific report of their findings the following day,” shares Nicholas McGirr.
Image courtesy of Shem Creek Inn
10. Stay on Shem Creek
“Just minutes from downtown Charleston, discover a laid-back waterfront destination and treasured local secret,” recommends Shem Creek Inn General Manager, Emily Hagen. “Shem Creek Inn is an easygoing dockside hideaway within walking distance of local restaurants, bars, and adventures. Whether you step into a kayak straight from the boardwalk or watch boats go by from the comfort of your guest room, make memories to last a lifetime on the banks of Shem Creek,” Cress concludes.
Uncovering the heart of Charleston
Charleston is a city that rewards those who take the time to explore its hidden corners. From tranquil graveyards and vibrant neighborhoods to historic sites and natural wonders, these hidden gems offer a deeper connection to the city’s soul. Whether you’re a first-time visitor or a Charleston veteran, these lesser-known spots will add a layer of discovery and enchantment to your journey through the Holy City.
Wesley Masters works on Redfin’s stellar Content Marketing team as a content writing specialist. She has been with Rent. since 2023 and her previous experiences include non-profit communications, graphic design, and content creation. Wesley lives in Atlanta, GA, and loves outdoor walks, hanging out with her loved ones, and finding new recipes to try on Pinterest. Her ideal home is a brownstone with contemporary interiors.
As Alicia Keys famously sang, New York is the concrete jungle where dreams are made of. Finding the right place to call home is key to making your own NYC dream a reality. No matter where you’re moving from, New York City is a true melting pot, where people from all walks of life come together. With over 60% of NYC’s residents originally hailing from out of town, it’s a city that embraces newcomers with open arms. As a local who’s called this city home for the past seven years, I’ve seen firsthand how living in New York can shape your life. If you can make it here, you can make it anywhere.
So, in the words of Frank Sinatra, “Start spreading the news, I’m leaving today.” With this guide, packed with my insider tips and local insights, you’ll be well-equipped to navigate your move and find the perfect home in the city that never sleeps.
What are the five boroughs of New York City?
New York City consists of five boroughs:
Manhattan
Brooklyn
Queens
The Bronx
Staten Island
These boroughs were consolidated into one city in 1898, transforming NYC into a unified urban area. Before that, each borough operated independently with its own government. The consolidation was driven by the need for better management of the rapidly growing metropolitan area.
A deep dive into the 5 boroughs of New York City
When choosing where to live in New York City, each borough has its own distinct personality, making it crucial to find the one that feels like home. While you might have an idea of what each borough offers, there’s always more to discover in this city. Let’s dive into the real NYC, borough by borough.
1. Manhattan
The concrete jungle where you either make it or you’re just visiting
Manhattan is the heart of New York City, a place where skyscrapers reach the sky and every street pulses with energy. Originally a Dutch settlement called New Amsterdam in the 1600s, Manhattan has become the financial and cultural capital of the world, home to famous figures like Robert De Niro and Lady Gaga. Despite its small size—just 13.4 miles long and 2.3 miles wide—Manhattan packs over 1.6 million people into its dense landscape. I’ve walked across it in under three hours, from 1st Avenue to 12th, and you can stroll from Central Park to FiDi in a couple of hours, making the city feel both vast and accessible.
Street view of the Flatiron Building
Iconic Manhattan landmarks
Manhattan hidden gems
The Campbell Bar: Hidden inside Grand Central Terminal, this bar feels like a trip back to the 1920s.
The Elevated Acre: A secret park located above the Financial District with stunning views of the East River.
Sylvia’s Restaurant: Located in Harlem, this iconic soul food spot has been serving up delicious comfort food since 1962. It’s a must-visit for anyone looking to experience Harlem’s culinary heritage.
The Little Red Lighthouse: Tucked under the George Washington Bridge, this charming lighthouse is a nod to the city’s maritime past. You’re definitely an OG NYer if you go all the way up here.
Roosevelt Island: Take the aerial tramway for stunning views of the city, and explore the island’s historic landmarks, including the abandoned Smallpox Hospital and the Franklin D. Roosevelt Four Freedoms Park.
What it’s like to live in Manhattan
Average rent in Manhattan: $4,895 | Median sale price in Manhattan: $1,210,000
Walk score: 97 | Transit score: 100 | Bike score: 83
Living in Manhattan is like stepping onto a treadmill that’s always set to sprint. Picture this: you’re dodging tourists in Times Square, grabbing coffee from a bodega, and catching a subway train all while sending an email—it’s that fast-paced. But that’s the charm. You’re constantly surrounded by ambition, creativity, and the feeling that anything can happen at any moment. The ambiance is electric, and the hustle is real, but that’s what makes Manhattan a place like no other.
Apartments for rent in Manhattan | Homes for sale in Manhattan
Popular Manhattan neighborhoods
Upper East Side
Old money, classic architecture, and a stone’s throw from Central Park. It’s the setting for luxury and tradition.
The Upper East Side is synonymous with luxury and tradition, apartments in the UES often featuring pre-war charm, high ceilings, elegant moldings, and doorman buildings. When looking for a place here, it’s important to distinguish between pre-war and post-war apartments, as the older buildings offer classic New York living but may come with outdated systems. In this NYC neighborhood, you might find yourself in a spacious apartment with views of Central Park or tree-lined streets. Popular spots include the Metropolitan Museum of Art and Madison Avenue for high-end shopping. The area is well-served by the 4, 5, 6, and Q trains, making it easy to get around. Residents often enjoy Central Park, brunch at chic cafés, or evenings at cultural institutions like the Guggenheim.
Local tip: In NYC, we know pre-war apartments often have solid construction and classic details, but they can also come with outdated systems or potential issues like lead paint, old wiring, and asbestos. So if you happen to rent a pre-war apartment, I’d advise asking the landlord when or if the apartment was last inspected, especially for any potential safety concerns.
Street view of The Solomon R. Guggenheim Museum
Greenwich Village
Artsy and bohemian, with a laid-back vibe and charming streets filled with history and jazz clubs.
Greenwich Village, “GREN-itch” (with the “w” being silent), is one of the most expensive neighborhoods in NYC, with a rich artistic legacy, and living here means being surrounded by charm and creativity. Rentals in Greenwich range from cozy, historic walk-ups in brownstones to more modern loft spaces. The vibe is relaxed with Washington Square Park at its heart. Popular spots include the Blue Note jazz club, quirky bookstores, and indie coffee shops. The Village is accessible via the A, B, C, D, E, F, M, and L trains, offering easy access to the rest of the city. Keep in mind, though, that all this comes at a price—Greenwich Village is the most expensive neighborhood in the city to rent in.
Local recommendation: Some of my favorite things to do here are to have lunch by the “lego pants” in Washington Square, catch a comedy show, or hang at my favorite bar with friends called Cubbyhole. The city’s absolute best ramen spot is here on Taylor Swift’s “Cornelia Street” across from her house, called Menkoi Sato.
Chelsea
Known for its art galleries, trendy eateries, and the High Line, Chelsea is vibrant and full of life.
Chelsea is a neighborhood that balances the old with the new. Apartments here can range from industrial-style lofts in converted warehouses to sleek high-rises with rooftop terraces. The High Line, an elevated park, runs through the neighborhood, offering residents a unique green space right at their doorstep. Chelsea Market is a popular spot for foodies, while the nearby art galleries draw in the creative crowd. The area is served by the A, C, E, and L trains, making it well-connected. Residents often spend their weekends browsing galleries, enjoying meals at trendy restaurants, or taking walks along the High Line.
Local tip: I love to walk the Hudson River Park on the weekends. The walk offers stunning views of the Hudson River and is a great escape from the city streets. As you make your way along the river, you’ll come across plenty of boat restaurants like Grand Banks, parks, and hidden piers that are perfect for relaxing. Pier 62 has a lot of amenities, it has a skate park, carousel, and clean landscaped lawns.
Street view of Little Island
Lower East Side
Edgy, eclectic, and full of character. The LES is a mix of old New York grit and new-school cool.
The Lower East Side is where history meets modern culture. It’s sort of like the go-to spot for new transplants and people starting off in their careers. LES Apartments here are often found in older tenement buildings, many of which have been renovated into chic, modern spaces. The neighborhood is known for its eclectic mix of nightlife, from dive bars to upscale cocktail lounges.
Popular spots include Katz’s Delicatessen and the Tenement Museum. The F, M, J, and Z trains serve the LES, connecting it to the rest of the city. Residents here enjoy the neighborhood’s nightlife, diverse food scene, and the palpable sense of history and grit the architecture wears.
Must-do: I love a good Chinatown walking food tour— Mei Lai Wah has the best baked pork buns. Another favorite of mine is The Back Room—one of Manhattan’s original speakeasies. Their drinks are served in teacups, just like during Prohibition. It’s a must-visit spot if you want to experience a slice of old New York with a touch of mystery and charm.
2. Brooklyn
Bagels, brownstones, and the ‘fuhgeddaboudit’ way of life
Brooklyn is known for its artistic vibe, diverse communities, and a unique blend of old and new. It’s a borough where history is loved by its residents, creativity flourishes, and every neighborhood offers something different. Over the years, it has become a cultural hub, home to famous figures like Jay-Z, Barbra Streisand, and Spike Lee. Geographically, Brooklyn is the largest borough by population, with over 2.5 million residents, and spans about 69.4 square miles.
Iconic Brooklyn landmarks
Brooklyn hidden gems
Green-Wood Cemetery: A National Historic Landmark with beautiful landscapes and famous graves, offering peaceful walks and stunning views.
The Morbid Anatomy Museum: A quirky museum dedicated to the macabre, with exhibits on death, medicine, and oddities.
Red Hook Winery: Located in the industrial Red Hook neighborhood, this winery offers tastings with views of the Statue of Liberty.
Kings County Distillery: New York City’s oldest whiskey distillery, located in the Brooklyn Navy Yard, offering tours and tastings.
Brooklyn Flea: A popular weekend market where you can find everything from vintage clothing to handmade crafts and delicious food.
Street view of the Brooklyn bridge
What it’s like to live in Brooklyn
Average rent in Brooklyn: $3,590 | Median sale price in Brooklyn: $999,000
Walk score: 98 | Transit score: 100 | Bike score: 84
Living in Brooklyn feels like being part of a vibrant community where creativity and culture thrive. Imagine grabbing coffee at a local café, strolling past historic brownstones, and catching a live music show in the evening. Brooklyn offers a relaxed yet energetic vibe, with something always happening around the corner. The strong sense of community is one of its best features—whether you’re chatting with neighbors at the farmer’s market or enjoying a street fair, it’s easy to feel connected. Plus, the food scene is incredible, from Michelin-starred restaurants to food trucks.
Apartments for rent in Brooklyn | Homes for sale in Brooklyn
Popular Brooklyn neighborhoods
Williamsburg
The epicenter of Brooklyn cool, with a thriving arts scene, trendy shops, and waterfront views.
Williamsburg is known for its creative energy, with art galleries, boutique stores, and a vibrant nightlife. Williamsburg apartments range from sleek new developments to converted lofts with industrial charm. The L train connects Williamsburg to Manhattan, making it a popular choice for those who want easy access to both boroughs. Residents often spend weekends browsing the vintage shops, grabbing brunch at local eateries, or enjoying live music at one of the many venues.
Local Tip: One of my favorite things to do is play kickball at Domino Park—it’s a great spot to enjoy the outdoors with views of the Manhattan skyline. Afterward, grab a bite at Smorgasburg, the famous outdoor food market, for some of the best eats in Brooklyn.
Park Slope
Friendly, historic brownstones, tree-lined streets, and a strong sense of community.
Park Slope is known for its beautiful architecture and friendly atmosphere. The neighborhood is full of historic brownstones and spacious apartments that attract people settling down and professionals alike. The area is served by the B, D, N, Q, R, 2, and 3 trains, making it easy to get around. Residents love the proximity to Prospect Park, where you can enjoy a picnic, go for a jog, or visit the Brooklyn Botanic Garden.
Local tip: Check out 7th Avenue for local shops and restaurants, and don’t miss the Greenmarket at Grand Army Plaza on Saturdays.
DUMBO
A waterfront neighborhood with cobblestone streets, art galleries, and stunning views of the Manhattan Bridge.
DUMBO (Down Under the Manhattan Bridge Overpass) is one of Brooklyn’s most picturesque neighborhoods, with cobblestone streets and breathtaking views of the Manhattan skyline. Apartments in DUMBO are often found in converted industrial buildings, offering modern loft spaces with lots of character. The F and A/C trains make commuting to Manhattan a breeze. DUMBO is a hotspot for art and design, with many galleries, boutiques, and creative spaces.
Bedford-Stuyvesant
History and culture, stunning brownstones, and a growing arts scene.
Bedford-Stuyvesant, or Bed-Stuy, is a neighborhood steeped in history and culture. Known for its brownstones and tree-lined streets, Bed-Stuy has a growing arts scene. Apartments in Bed-Stuy offer more space for your dollar compared to other parts of Brooklyn, making it a popular choice for those looking for a balance of affordability and charm. The area is served by the A, C, and G trains, making it well-connected to the rest of the city.
Street view of the Grand Army Plaza
3. The Bronx:
Birthplace of hip hop, home of the Yankees, and real New York grit
Now, why do we call it “The Bronx” and not just “Bronx”? The name comes from the Bronx River, which was named after Jonas Bronck, a Swedish-born settler who established the first European settlement in the area in the 1630s. The area became known as “Bronck’s Land,” which eventually evolved into “The Bronx” as the borough grew around the river. So, when you refer to The Bronx, you’re acknowledging its historical roots—it’s not just any Bronx; it’s The Bronx. Call it anything else, and locals might give you a look like, “Are you new here or what?”
Iconic Bronx landmarks
Hidden gems in The Bronx
City Island: A small, nautical-themed island known for its seafood restaurants, art galleries, and small-town charm.
Van Cortlandt Park: One of NYC’s largest parks, offering golf courses, hiking trails, and the Van Cortlandt House Museum, the oldest building in The Bronx.
The Bronx Museum of the Arts: A cultural gem showcasing contemporary art from diverse voices, with a focus on artists from The Bronx.
Wave Hill: A public garden and cultural center in Riverdale with stunning views of the Hudson River and the Palisades.
Arthur Avenue Retail Market: A bustling indoor market offering authentic Italian products, from fresh pasta to homemade sausages.
What it’s like to live in The Bronx
Average rent in The Bronx: $1,776 | Median sale price in The Bronx: $548,000
Walk score: 79 | Transit score: 95 | Bike score: 74
Living in The Bronx means being part of a community that’s proud of its heritage and focused on the future. Picture grabbing coffee from a local bodega, hearing salsa music from a nearby window, and passing a mural that tells the neighborhood’s history. The Bronx is authentic, with a gritty yet welcoming vibe that makes you feel part of something real. It’s also home to green spaces like Pelham Bay Park and the Bronx Zoo, offering an escape from city life, and it’s a food lover’s paradise with Italian eats on Arthur Avenue and Caribbean delights in the South Bronx.
Apartments for rent in The Bronx | Homes for sale in The Bronx
Popular Bronx neighborhoods
Riverdale
A suburban feel with tree-lined streets, spacious apartments, and stunning views of the Hudson River.
Riverdale offers a more suburban atmosphere compared to other parts of the borough, with spacious apartments, co-ops, and even some single-family homes. It’s a popular choice for those looking for a quieter lifestyle while still being close to the city. The 1 train serves the area, connecting residents to Manhattan. Riverdale is also known for its excellent schools and beautiful parks, making it a favorite among families.
Fordham
The cultural heart of The Bronx, markets, historic buildings, and the renowned Fordham University.
Fordham is an upbeat neighborhood known for its markets, street food, and history. Apartments in Fordham are often found in classic pre-war buildings, with the neighborhood being home to the famous Fordham University. The B, D, and 4 trains make it easy to get around, and residents enjoy the proximity to cultural institutions like the Bronx Zoo and the New York Botanical Garden.
Local tip: Visit Arthur Avenue in Belmont, just adjacent to Fordham, often referred to as the “Real Little Italy,” for some of the best Italian food in NYC.
Mott Haven
An up-and-coming area with a growing arts scene, trendy eateries, and easy access to Manhattan.
Mott Haven is quickly becoming one of The Bronx’s trendiest neighborhoods, with a burgeoning arts scene and new restaurants popping up regularly. Apartments here are a mix of renovated lofts and new developments, offering more space for your money compared to Manhattan or Brooklyn. The 4, 5, and 6 trains provide quick access to Manhattan, making it a popular choice for commuters.
Throggs Neck
A waterfront neighborhood with a relaxed vibe, great seafood, and a close-knit community.
Throggs Neck offers a peaceful, waterfront lifestyle with a close-knit community feel. Apartments range from modest houses to waterfront condos, many with views of the Long Island Sound. It’s a great neighborhood for those who love the water, with marinas and seafood restaurants dotting the area. The BxM9 express bus provides a convenient commute to Manhattan.
Local tip: Enjoy fresh seafood at my favorite restaurant, City Island, a small island connected to Throggs Neck, known for its seafood restaurants and charm.
4. Queens
More languages than a subway map – no passport required
Queens is often cited as the most ethnically diverse urban area in the world. In fact, over 138 languages are spoken in the borough, and more than 45% of residents are foreign-born, representing over 190 countries. When you break it down, that means Queens has about 2.5 different ethnic groups per square mile, showcasing a staggering level of diversity packed into its 108 square miles.
Iconic Queens landmarks
Hidden gems in Queens
Socrates Sculpture Park: An outdoor museum and park in Long Island City where artists create and exhibit sculptures and multimedia installations.
The Noguchi Museum: A museum in Astoria dedicated to the works of Japanese-American artist Isamu Noguchi, offering a peaceful garden and unique exhibitions.
Ganesh Temple Canteen: Located in the basement of a Hindu temple in Flushing, this cafeteria serves some of the most authentic South Indian food in the city.
Forest Hills Stadium: A historic stadium that hosts outdoor concerts and events, with a lineup that includes top artists from around the world.
Rockaway Beach: A popular summer destination for surfing, sunbathing, and enjoying the boardwalk, accessible by subway from Queens.
What it’s like to live in Queens
Average rent in Queens: $2,800 | Median sale price in Queens: $735,000
Walk score: 58 | Transit score: 69 | Bike score: 66
Living in Queens is like having the world at your doorstep. You can grab dim sum in Flushing, browse a Greek market in Astoria, and savor an authentic Colombian meal in Jackson Heights—all in one day. Queens offers a relaxed pace, strong community, and rich diversity reflected in its food, festivals, and welcoming ambiance. The cultural experiences are endless, from street fairs to local museums, with something new to discover in every neighborhood. Plus, with more affordable housing than Manhattan or Brooklyn, Queens is a popular choice for balancing cost and convenience.
Apartments for rent in Queens | Homes for sale in Queens
Street view of the Unisphere
Popular Queens neighborhoods
Astoria
A lively, multicultural neighborhood known for its food scene, historic sites, and waterfront views.
Astoria is one of the top neighborhoods in Queens, famous for its diverse dining options, from Greek tavernas to Brazilian steakhouses. Rentals here range from classic pre-war buildings to modern high-rises, offering something for everyone. The N and W trains provide quick access to Manhattan, making it a convenient choice for commuters. Astoria Park, with its stunning views of the East River and Manhattan skyline, is a favorite spot for locals.
Flushing
A bustling urban center with a rich Asian culture, renowned for its food markets, temples, and vibrant community life.
Flushing is the epicenter of the Queens Chinatown community, offering an array of authentic cuisine, bustling markets, and cultural landmarks. Apartments in Flushing are often found in mid-rise buildings and offer more space for your money compared to Manhattan. The 7 train connects Flushing to Manhattan, making it easy to explore the rest of the city. The neighborhood is also home to Flushing Meadows-Corona Park, where you’ll find the iconic Unisphere and the USTA Billie Jean King National Tennis Center.
Local tip: Whenever in Flushing, I like to visit the food stalls at the New World Mall for some of the best dumplings, noodles, and bubble tea in the city, and take a stroll through Flushing Meadows-Corona Park.
Long Island City
A rapidly developing area with luxury apartments, art galleries, and spectacular views of the Manhattan skyline.
Long Island City (LIC) has transformed from an industrial hub into one of the most sought-after neighborhoods in Queens. It’s known for its luxury high-rise apartments, contemporary art galleries, and waterfront parks. The 7, E, M, and G trains make commuting to Manhattan a breeze. LIC is a cultural hotspot, with institutions like MoMA PS1 and a thriving local arts scene.
Recommendation: Visit Gantry Plaza State Park for unbeatable views of the Manhattan skyline.
Jackson Heights
A multicultural haven known for its diverse population, historic district, and vibrant street markets.
Jackson Heights is one of the most diverse neighborhoods in Queens, offering a mix of cultures that’s reflected in its food, shops, and community events. The neighborhood is famous for its historic garden apartments and tree-lined streets. The E, F, M, R, and 7 trains make it easy to get around. Jackson Heights is a food lover’s paradise, with everything from Indian curries to Colombian are available just a short walk away.
5. Staten Island
Where everybody knows a guy who knows a guy
Locals joke that Staten Island is where New Yorkers go to take a break from being New Yorkers. Personally, I prefer Staten Island to the other boroughs I’ve lived in. Covering about 58.5 square miles, it’s the third-largest borough by land area but the least populated. While some avoid visiting and call it a different country, Staten Island is underrated. You can find a two-bedroom rental for $1,400, a bargain compared to the pricier, smaller apartments in the city. Plus, you’re just ten minutes from Brooklyn and 20 minutes from Manhattan or Jersey City.
Iconic Staten Island landmarks
Staten Island hidden gems
Tibetan Museum: A unique cultural gem located in the Lighthouse Hill neighborhood, offering a peaceful retreat with Himalayan art and artifacts.
Fort Wadsworth: Overlooking the Verrazzano-Narrows Bridge, this historic military installation offers stunning views and a quiet place to explore.
Wolfe’s Pond Park: A hidden oasis on Staten Island’s South Shore, perfect for hiking, fishing, or simply enjoying nature.
Lemon Creek Park: A lesser-known park where you can spot horseshoe crabs, go birdwatching, or just enjoy the tranquility by the water.
Enoteca Maria: A unique restaurant in St. George where grandmothers from different countries cook traditional dishes from their homelands, offering an authentic and heartwarming dining experience.
What it’s like to live in Staten Island
Average rent in Staten Island: $2,400 | Median sale price in Queens: $417,000
Walk score: 31 | Transit score: 49 | Bike score: 45
Living in Staten Island is like living in a small town within the big city. Picture this: you’re driving down tree-lined streets, passing by historic homes and parks, then hopping on the Staten Island Ferry for a free ride with breathtaking views to Manhattan. It’s a place where you can enjoy the best of both worlds—city amenities with a suburban feel.
Apartments for rent in Staten Island | Homes for sale in Staten Island
Popular Staten Island Neighborhoods
St. George
The gateway to Staten Island with waterfront views and cultural landmarks
St. George is the vibrant entry point to Staten Island, known for its stunning waterfront views and cultural attractions. Apartments in St. George range from modern high-rises to classic pre-war buildings, many offering views of New York Harbor. The area is bustling with activity, thanks to landmarks like the St. George Theatre and the Staten Island FerryHawks baseball stadium.
One of the best parts about living in St. George is the easy access to Manhattan via the Staten Island Ferry—it’s free and offers some of the best views of the Statue of Liberty and Lower Manhattan. The neighborhood has a thriving arts scene, and you’ll often find residents enjoying a show or grabbing a bite at one of the many nearby restaurants.
Local tip: I recommend learning the bus system in Staten Island if you don’t have a car. The Staten Island Railway (SIR) runs through the borough, but the best way to get around is by bus, car, or bike if you have one.
Tottenville
Quaint small-town vibe at Staten Island’s southern tip
Tottenville, located at the southern tip of Staten Island, feels like a world away from the city’s hustle. Tottenville has plenty of historic town homes for rent with plenty of character, offering a peaceful, small-town atmosphere. The streets are quiet and lined with trees, making it a great place for those who appreciate suburban tranquility. Local tip: If you love history, Tottenville’s got it all —don’t miss the Conference House, a historic site where Benjamin Franklin once met with British officials during the American Revolution. Tottenville is perfect for those who want a slower pace of life while still being connected to the city.
Great Kills
Suburban charm meets nature
Great Kills is a neighborhood that perfectly blends suburban living with the beauty of nature. Apartments in Great Kills are typically found in low-rise buildings and houses, offering more space than you might find in other parts of the city. Great Kills Park, part of the Gateway National Recreation Area, is the neighborhood’s crown jewel, providing residents with access to beaches, hiking trails, and picnic areas. I recommend taking advantage of the waterfront. Whether it’s a day at the beach or a relaxing evening walk by the marina, Great Kills offers plenty of opportunities to connect with nature. It’s also a great spot for fishing and boating enthusiasts.
Local insight: I love going on runs at the Staten Island Boardwalk here. There are a few soccer fields, basketball courts, and baseball fields right next to it. You can capture some fantastic views of Sandy Hook Bay, the Verrazzano Bridge, and a little bit of Coney Island at once.
West Brighton
Cultural diversity and historic sites
West Brighton is a neighborhood that combines cultural diversity with a strong sense of history. Apartments here range from charming older homes to more modern options, and the neighborhood is known for its rich community life. West Brighton is home to the Staten Island Zoo and the iconic Snug Harbor Cultural Center & Botanical Garden, a must-visit for anyone living in the area. If you’re into the arts, Snug Harbor is a great experience, from theater performances to art exhibits. The neighborhood also boasts some of the best authentic Italian cuisine on the island, making it a favorite spot for food lovers.
Beyond the five boroughs of New York: The greater New York City areas
The greater New York City area, part of the Tri-State region, offers more than just the iconic Big Apple. Commuter towns and suburbs like Jersey City, Hoboken, Long Island, Yonkers, Westchester, and northern New Jersey provide a blend of suburban life and urban convenience. With excellent public transportation systems, these areas make it easy to access the outer boroughs while offering diverse housing options and communities. They’re perfect for those seeking a quieter lifestyle or more space without sacrificing proximity to NYC.
Let’s be clear: these areas aren’t the “hidden boroughs” or the “sixth borough” of New York—calling them that would be as controversial as putting ketchup on a hot dog at Nathan’s in Coney Island. They might be close to the city, but they’re not earning that borough status without a fight!
Methodology: The Walk Score, Bike Score, and Transit Score data are sourced from Walk Score, while the average rent and median home sale prices and rental market trends are based on Redfin’s housing market data in July, 2024.
Dynamic pricing is a strategy used by retailers and service providers to automatically raise or lower prices based on current market conditions. Companies who use dynamic pricing rely on technology, including artificial intelligence, to shift prices up or down based on a set of factors that can include availability of the product or service, customer demand and competitor pricing.
For example, prices might increase automatically at a time of high demand and limited supply. This form of dynamic pricing is often called surge pricing. But dynamic pricing can also mean prices go down at a time when demand is low or there’s a surplus of the product.
The concept behind dynamic pricing isn’t new. Movie tickets are cheaper during the day and restaurants host happy hours before the dinner rush because it gets people in the door during a typical slow period. But advances in technology have made it possible to change prices automatically based on real-time data. That makes dynamic pricing appealing to businesses because it’s not only faster, but also more efficient, since algorithms process the information and determine the optimal price.
Where consumers encounter dynamic pricing
Dynamic pricing is increasingly common in a variety of industries and settings. In a recent NerdWallet survey, many consumers reported being resistant to the concept.
Airlines are considered early adopters of dynamic pricing, which they embraced as they overhauled their pricing models in the 1980s when the industry was deregulated. Airlines optimize ticket sales by changing prices based on how far in advance travelers book their seat, demand for the destination, time of departure, seat selection and other factors. The strategy later spread throughout the travel and hospitality industries.
Online retailers also use dynamic pricing technology to adjust the cost of goods as the market for them shifts. Amazon is known for raising or lowering prices multiple times a day based on availability, demand, competition and other factors. Walmart and Target also use dynamic pricing for goods sold online.
Ever-changing online prices are one thing, but the debut of digital price tags at brick-and-mortar stores like Walmart has caused many to worry in-person prices will become unpredictable, as well. So far, the retail giant says it won’t use dynamic pricing in its stores.
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Fast-food restaurants including McDonald’s, Burger King, Starbucks and others are brick-and-mortar examples of dynamic pricing in action. (Wendy’s could join their ranks in 2025.) They rely on common low-tech tactics, like offering deals on food and drinks during slow parts of the day. But they’re also leveraging consumers’ love of online ordering by offering perks (and even lower prices) through their apps.
App-based services like Uber, DoorDash and InstaCart are open about their use of surge pricing, which is a form of dynamic pricing. When demand for service is high at a particular time or in a specific location, customers will see higher-than-usual prices.
Dynamic pricing can be good for consumers
One upside of dynamic pricing is that, to a point, companies can be just as driven to lower prices as they are to raise them, because discounts tend to increase demand and, consequently, sales. This principle has become obvious in recent months as more businesses see consumers pulling back on spending because everything is so expensive. To bring up sales, companies lowered some prices, from grocery stores that marketed summer discounts to fast-food chains that rolled out cheaper menu options, like McDonald’s new value meal.
So, as dynamic pricing becomes more ubiquitous, consumers could start finding deals left and right if they’re willing to wait for them. With browser extensions like Honey or the Camelizer, which track prices and find coupons, bargain-hunters can be sure they’re buying at the lowest price.
At the same time, when companies raise prices during a period of high demand, it can mean people who are willing to pay a premium face less competition for a limited supply of goods. So if you really, really want tickets for a Taylor Swift concert, and you’re willing to pay more for them than other people, you can do that.
But it can also be bad
There’s a difference between getting priced out of something you want — like tickets to see your favorite pop star — and something you need. That’s why companies face criticism (and sometimes legal trouble) when they raise prices on essential goods and services during an emergency.
There also can be a lack of transparency in dynamic pricing. As more and more companies adopt the strategy, they’re fluctuating prices for goods and services that consumers expect to be fixed. So, it’s not always clear to customers when or why they’re paying higher prices and how they could avoid doing so.
And there’s another degree of opaqueness that’s more worrying. Companies are gathering tons of personal information on their customers every day, which they can leverage to set prices at an individual level. The Federal Trade Commission calls this “surveillance pricing,” and has raised concerns about how it could lead to consumers unwittingly paying more.
The FTC has opened an inquiry into how companies use a person’s data — such as location, demographics, credit history and browsing or shopping history — to set prices. In July, the commission sent orders to eight companies that offer pricing products and services to businesses, calling for information on what data is collected, how it’s used and what impact that could have on prices.
The eight companies include Mastercard, Revionics, Bloomreach, JPMorgan Chase, Task Software, PROS, Accenture, and McKinsey & Co.
Kansas City, Missouri, is a place where Midwestern charm meets urban flair. Known for its legendary barbecue, rich history, and welcoming community, this city has a lot to offer to those who decide to call it home. But, like any city, Kansas City isn’t for everyone. Whether you’re drawn by the affordable cost of living, the vibrant arts scene, or the city’s strong sports culture, there are certain things you need to know before making the move. Not sure if KC is for you? Read on to find out what to expect if you’re considering a move to the Kansas City area in 2024.
You know it from: 42, Kansas City, The Assassination of Jesse James
Average 1 bedroom rent: $1,320 | Kansas City apartments for rent, Kansas City houses for rent
Average home price: $301,000 | Kansas City homes for sale
Average cost of full-service moving services: $158/hr for 2 movers
Average cost to rent a moving truck: $19 – $39/day
Top industries: Biosciences, Technology, Distribution
Move here for: Live music, the food, the nightlife
Be sure to bring: A bathing suit and an instrument
1. The barbecue is a way of life
Kansas City is world-famous for its barbecue, and locals take it very seriously. From iconic spots like Joe’s Kansas City Bar-B-Que to lesser-known gems like Q39, the city offers an unparalleled BBQ experience. Expect to debate with friends over which joint has the best ribs, burnt ends, or brisket. Barbecue isn’t just food here; it’s a part of the culture. Whether you’re hosting a backyard cookout or tailgating at a Chiefs game, barbecue will be front and center.
2. Kansas City has four distinct seasons
In Kansas City, you’ll experience all four seasons in full force. Summers are hot and humid, with temperatures often climbing above 90°F, while winters can bring snow and ice, with temperatures dipping below freezing. Spring and fall are more moderate, offering beautiful blooming flowers and vibrant autumn leaves. If you love variety in your weather, you’ll be right at home here. Just make sure your wardrobe can handle everything from tank tops to parkas.
3. The cost of living is lower than the national average
One of the best things about Kansas City is its affordability. The cost of living is about 6% lower than the national average, which means your dollar stretches further here. Housing is particularly affordable, with a variety of options ranging from historic homes in Brookside to modern apartments Downtown. This affordability is a big draw for future residents. You’ll find that your money goes a lot further in Kansas City than in many other major metropolitan areas.
4. The arts scene is surprisingly vibrant
Kansas City might not be the first place you think of when it comes to the arts, but the city has a thriving creative community. The Crossroads Arts District is a hub for galleries, studios, and live music venues. The Kauffman Center for the Performing Arts hosts world-class performances, and the Nelson-Atkins Museum of Art offers free admission and a stunning collection. From First Fridays in the Crossroads to jazz in 18th & Vine, Kansas City’s arts scene will keep you inspired.
5. The food scene goes beyond barbecue
While Kansas City is known for its barbecue, the city’s food scene has much more to offer. You’ll find everything from farm-to-table restaurants in Westport to authentic Mexican cuisine in the Historic Northeast. The River Market is a foodie’s paradise, with fresh produce, local vendors, and a variety of international foods. Whether you’re craving comfort food or fine dining, Kansas City’s culinary landscape has something for every palate.
6. Kansas City is home to a strong sports culture
Sports are a big deal in Kansas City. The city is home to the Kansas City Chiefs, one of the NFL’s most passionate fan bases, and the Kansas City Royals, a team with a storied history in Major League Baseball. Sporting Kansas City, the city’s Major League Soccer team, also has a dedicated following. Whether you’re tailgating at Arrowhead Stadium or catching a game at Kauffman Stadium, sports are a major part of life here. Don’t be surprised if game days feel like holidays.
7. The city is divided by a state line
One unique aspect of Kansas City is that it straddles the state line between Missouri and Kansas. While Kansas City, Missouri, is the larger and more vibrant part of the metro area, many residents live and work on both sides of the line. This can create some confusion, especially when it comes to taxes and school districts. Understanding the differences between the two states is key to navigating life in the metro area.
8. The city’s jazz heritage is still alive and well
Kansas City has a rich jazz history, and you can still hear its influence today. The 18th & Vine Jazz District is home to the American Jazz Museum and the historic Blue Room, where live jazz performances keep the tradition alive. The city’s jazz scene isn’t just for history buffs—new generations of musicians are continuing to push the genre forward. If you’re a fan of live music, you’ll find plenty to enjoy in Kansas City’s jazz clubs.
9. The job market is diverse and growing
Kansas City has a diverse and growing job market, with opportunities in healthcare, finance, technology, and more. Major employers include Cerner, H&R Block, and Garmin, as well as a burgeoning startup scene. The city’s central location also makes it a hub for logistics and transportation. With a low unemployment rate and a relatively low cost of living, Kansas City is an attractive place for job seekers.
10. Public transportation is improving, but still limited
While Kansas City has made strides in improving public transportation, it’s still a car-centric city. The streetcar system downtown is free and convenient, but it only covers a small portion of the city. Buses are available, but routes can be limited depending on where you live. Most residents rely on their cars to get around, so having a vehicle is almost essential. If you’re moving from a city with extensive public transit, this could be an adjustment.
11. The community is big on civic pride
Kansas Citians are proud of their city, and that pride shows in everything from the upkeep of public spaces to the support of local businesses. You’ll see KC logos on everything from hats to T-shirts, and locals are quick to boast about the city’s attributes. The pride extends to the city’s history, architecture, and neighborhoods. If you move to Kansas City, you’ll likely find yourself becoming a part of this enthusiastic community spirit.
12. The city’s neighborhoods each have their own vibe
Kansas City’s neighborhoods are diverse and each offers a unique experience. The Country Club Plaza is known for its upscale shopping and Spanish-inspired architecture, while the Crossroads District is a hub for art and creativity. Westport is the place to be for nightlife, and Brookside offers charming homes and a strong sense of community. No matter what kind of environment you’re looking for, there’s likely a neighborhood in Kansas City that will feel like home.
13. Outdoor activities are plentiful
If you love the outdoors, Kansas City won’t disappoint. The city has over 200 parks, including the expansive Swope Park, which is home to the Kansas City Zoo, Starlight Theatre, and miles of hiking trails. Nearby, you’ll find lakes for boating and fishing, as well as the scenic Katy Trail for biking. Whether you prefer a leisurely walk in Loose Park or a more adventurous outing at Cliff Drive, Kansas City offers plenty of ways to enjoy the outdoors.
Methodology: Average rent prices sourced from Rent.com August 2024. Home prices sourced from Redfin August 2024. Average moving costs sourced from MoveBuddha. Employment data sourced from KC Today.
There is no such thing as no-deposit car insurance. All insurers require payment before activating coverage.
You can lower your initial payment by taking advantage of discounts, only purchasing coverage you need and comparing rates to find the cheapest insurance company for you.
Your first car insurance payment can be as low as $29, according to NerdWallet’s August2024 analysis of minimum coverage rates from the country’s largest insurers.
A car insurance “deposit” counts toward your total premium. It’s not an additional fee.
Car insurance with no deposit doesn’t exist. Legitimate insurers require some money down before they’ll provide coverage. The good news is that an auto policy’s initial “deposit” isn’t a separate fee, but the first payment you’ll make towards buying and maintaining your coverage.
Most auto insurers will let you either pay in monthly increments or in full for the entire policy period, which is typically six months or a year. If you’re looking for the lowest possible payment to start your auto insurance coverage, the cheapest option will likely be to pay only your first month’s premium payment.
Even though you’ll have to put some money down to get car insurance, your initial payment doesn’t have to be astronomical. Read more to learn how to find cheap car insurance with a low initial payment.
Table of Contents
How to find car insurance with a very cheap “deposit”
Just because a policy requires a payment upfront doesn’t necessarily mean you’re overpaying for your auto insurance coverage. Still, there are ways to make sure you are paying as little as possible in that first transaction.
Here’s how to lower your first car insurance payment.
Shop around. Your “deposit” will likely just be your first premium payment, so look for the lowest possible premium. The best way to do that is to compare car insurance quotes from at least three insurers. Not sure where to start? Take a look at NerdWallet’s list of the cheapest car insurance companies.
Ask about discounts. You may be surprised by the variety of discounts some insurers offer, so be sure to ask your insurer or agent for any discounts you might qualify for. You could get a lower price for making electronic payments, being a good student, insuring multiple vehicles or even driving a low amount of miles.
Only get the coverage you need. Look over your policy and drop any coverage you don’t really need. For example, if you drive an older car that’s not worth much, you likely don’t need comprehensive and collision coverage, which only cover your vehicle up to its current market value, minus your deductible.
Lower your deductible. If you have enough of a cushion in your emergency savings, you can choose a higher car insurance deductible. Although this would require you to pay more out-of-pocket before your insurance pays for a covered claim, your monthly premium would decrease.
Pay month-to-month. Most insurers give the option to pay for coverage in full or monthly installments. If you want to lower the initial cost for your coverage, pay month-to-month.
🤓Nerdy Tip
Keep in mind, paying for the full six or twelve months of coverage can end up being cheaper in the long run if your insurer offers a pay-in-full discount.
How much does a car insurance initial payment cost?
The initial payment for a car insurance policy can be as low as your monthly policy rate, and can vary based on the overall cost of your policy and the payment plan you agree upon with your insurer.
Cheapest car insurance “deposits” for minimum coverage
Below are the five cheapest large insurers for minimum coverage, according to NerdWallet’s August2024 analysis, along with their median annual and monthly rates.
*USAA is only available to military, veterans and their families.
Cheapest car insurance “deposits” for full coverage
Below are the five cheapest large insurers for full coverage, according to NerdWallet’s August2024 analysis, along with their median annual and monthly rates.
*USAA is only available to military, veterans and their families.
Cheap coverage could leave you underinsured
When you’re shopping for a policy with a very low monthly payment, keep in mind that it may offer very limited coverage.
The absolute cheapest policies will provide only the minimum-required coverage in your state, which typically only includes a limited amount of liability insurance. This pays for damage and injuries you may cause to others in an accident, up to your policy limits. But it won’t cover things like damage to your car or for your own injuries if you’re hit by an uninsured or underinsured driver. In most cases, your state’s minimum required limits are probably not enough to protect you financially in the event of a serious accident.
Before you buy the cheapest car insurance you can find, make sure you’re getting enough coverage to protect you financially. Unsure of what the different types of car insurance are? Use our tool below to learn about what each type pays for.
I started making extra money and side hustling around 15 years ago, and since then I have done over 20 different side hustles. I started so that I could stop living paycheck to paycheck, and so that I could pay off my student loans quickly (I ended up paying off $40,000 in student loans in…
I started making extra money and side hustling around 15 years ago, and since then I have done over 20 different side hustles.
I started so that I could stop living paycheck to paycheck, and so that I could pay off my student loans quickly (I ended up paying off $40,000 in student loans in just 7 months thanks to side hustling!).
Some were short-lived, while others turned into steady streams of income (and are even my full-time income today). Each side job taught me something valuable about money, time, and effort. I juggled everything from reselling clothes online to being a virtual assistant, mystery shopping, answering online surveys, having roommates, and more.
There isn’t one best way to make extra money; it depends on what you’re good at, what you like, how much time you have, and more.
If you want to start a side job, my experiences can help you decide. I’ll tell you what I learned from each one I tried, so you can see the pros and cons of each.
My Side Hustles Review
Below is my review of the different side hustles I have tried over the years. These are in no particular order.
A picture of me blogging from several years ago 🙂
1. Blogging
Blogging can be a great way to earn money while writing about topics you love. I’ve done it for years and have seen how it can grow from a hobby into a full-time job.
I enjoy blogging for many reasons such as:
It’s flexible – You can blog from anywhere, anytime.
It’s affordable to start – You just need a computer and internet.
It’s a great creative outlet – Share your thoughts and passions with the world. I enjoy blogging and running a website.
While there are a lot of great reasons to start a blog, there are some challenges such as it can be time-consuming and there is no guarantee that you will make money.
When I first started my blog, I was working over 40 hours a week on it and making nothing. It took me 6 months to make my first $100 from it, actually!
But, it was all worth it in the end.
Blogging used to be my side hustle and it is now my full-time job where I have earned over $5,000,000 over the years.
I would definitely say that blogging is my favorite side hustle.
For me, it was a great second job because I could work on my blog before my day job, during lunch, after work, and on weekends. You can make your own schedule, which is a big bonus!
You can learn more about how to begin in my free How To Start a Blog Course here.
2. Paid online surveys
Paid online surveys are a way to make some extra cash when you have spare time. With just a few clicks and some honest answers, you can see money rolling in.
Companies want to know what customers think about their products and services and that is why they pay for surveys. By sharing your opinions, you help them improve and develop better offerings. In turn, they pay you for your time and insights.
You usually can earn anywhere from $0.50 to $5 per survey, depending on the length and how hard the survey is. And, surveys can take anywhere from around 10 minutes to an hour, so they are not high paying.
I’ve taken a lot of surveys over the years, and what I like about them is that you can do them whenever you want – in the morning, during lunch, before bed – whenever it works for you. There’s no strict schedule, and they are really easy to do.
My tips for success:
Sign up for multiple sites: This increases your chances of getting more surveys and making more money.
Complete your profile: Some survey sites match you to surveys based on your profile.
Be honest: Giving truthful answers ensures you stay eligible for more surveys.
Payment methods are typically cash via PayPal, bank transfer, or free gift cards (such as to Amazon, Walmart, Starbucks, and more).
You won’t get rich from these surveys, but it’s a nice way to earn some side cash. I know that some people think that surveys are a waste of time – but I know several people (including myself) who liked doing them because they are so flexible. I think the right mindset to have is that they will definitely not make you rich, and some can take a long(er) time to earn $5.
The survey companies I recommend signing up for include:
American Consumer Opinion
Survey Junkie
Swagbucks
InboxDollars
Branded Surveys
Prime Opinion
Five Surveys
PrizeRebel
Pinecone Research
3. Focus groups and paid research studies
You can make money by participating in focus groups. Companies pay for your opinions to improve their products and services.
This is similar to paid online surveys, but paid research studies and focus groups typically pay more.
User Interviews is a popular site where you can find paid research studies and focus groups.
Big companies like Pinterest, Spotify, Macy’s, Home Depot, Trip Advisor, and Amazon use User Interviews to get feedback on their new products, apps, and websites.
You can make $50 to $100 per hour, or even more, just by sharing your thoughts and feedback.
I did a user interview myself and got paid $400 for just one hour of work. It was easy, and everything was done online through a video call where they asked for my opinion on a new feature for a website.
Please click here to learn more about User Interviews.
Also, if you’re interested in paid medical research studies, then that can be a high-paying option as well. When my husband was younger, he took part in a few medical research studies to help us make extra money. He usually got paid about $1,000 for a week’s worth of time.
4. Dividends
Okay, so this isn’t exactly a side hustle, but it is a way that you can make more money so I wanted to include it here, especially since it’s one of my favorite ways to increase my income.
Dividends are an awesome way to earn passive income. You don’t need to do much work, and the money comes in. Many companies pay dividends to their shareholders regularly.
Here are a few benefits of investing in dividend stocks:
Regular income: You can receive payments quarterly or even monthly.
Low effort: Once you buy the stock, you don’t have to do much else.
A dividend is a portion of a company’s profits given to its eligible shareholders. You can receive dividends in cash, stock, or even options to buy more stock.
If you own shares in a company that pays dividends, you’ll get a dividend for each share you own.
For example, if you have 10 shares in Company XYZ and they pay $5 in cash dividends each year, you’ll get $50 in dividends for the year. Dividends are usually paid out quarterly, which means 4 times a year. So, in the example, the $5 in yearly dividends would likely be paid as $1.25 per quarter for each share you own.
You can learn more at What Are Dividends & How Do They Work? A Beginner’s Guide.
5. Buy and sell flipping
Flipping items is a great side hustle, and this is when you buy items at a low price and sell them for more.
The benefits of buy and sell flipping include:
Flexibility: You can flip items in your free time.
Profitable: Potential to earn anywhere from $50 to $5000 a month.
Fun: The thrill of finding good deals and making a profit.
I have flipped many items for resale over the years, and I even had a small reselling business at one point. It’s a fun way to make extra money.
While flipping items by buying and selling them for profit can be exciting, it has some downsides. One big risk is that you might not always make a profit, especially if the market drops or you overestimate the item’s value. It can also take a lot of time to research products, find good deals, and manage your listings. There’s tough competition too, as many people are trying to flip items, which can lower prices.
You can learn more at How I Made $40,000 In One Year Flipping Items.
6. Sold clothing
Selling used clothing can be a great way to make extra money. You can find clothes to sell in many places: thrift stores, clearance aisles, garage sales, and even your own closet.
For me, I liked to sell clothing on eBay as well as in person to places like Plato’s Closet. There are many more options these days, such as Poshmark and Facebook Marketplace.
Selling used clothes as a side hustle has its ups and downs. On the plus side, it has low start-up costs because you can start with clothes you already own, and it’s eco-friendly, supporting sustainable fashion. You also get to work on your own schedule, and there’s a high demand for secondhand clothes, especially trendy or vintage items. But it can take a lot of time to sort, clean, photograph, and list the clothes. Plus, shipping costs can cut into your profits, especially for heavier items.
I’ve sold a lot of clothing over the years, both online and in person (I also used to work at a secondhand clothing store for many years). I even had a small clothing resale business at one point, so I have plenty of experience in selling used clothes!
You can learn more at 16 Best Places To Sell Clothes For Cash.
7. Social media management
Social media management is a great side hustle if you enjoy creating content and engaging with people online.
Social media managers handle businesses’ social media accounts like Facebook, Instagram, and Twitter. They create posts, reply to comments, and help grow their followers.
Some benefits include:
Flexible hours: Many times, you can work anytime, making it easy to fit around your main job. This is because you can schedule social media posts to go out at the exact time that you want.
You can be creative: You can express your creativity through different types of content.
Work from anywhere: All you need is a laptop and internet.
But, there are some cons too. This wasn’t my favorite side hustle, mainly because it was stressful at times. It is very time-consuming (creating good content and engaging with followers can take a lot of time), there is constant learning (social media trends change quickly, so you need to keep learning new skills), and some clients may have high expectations and tight deadlines.
If you like being creative and spending time online, social media management can be a fun and rewarding side hustle.
8. Virtual assistant
Being a virtual assistant is one of my favorite side hustles. It’s flexible, and you can work from anywhere. You handle tasks for other people or businesses, like managing emails, scheduling appointments, or doing research.
Why I like virtual assisting:
Flexible hours: You set your own schedule.
Work from home: No need to commute.
Variety of tasks: You can decide what virtual assistant tasks you want to provide.
Working as a virtual assistant is a great way to make extra money. It gives you flexibility, a variety of tasks, and you can get started with just a computer and an internet connection.
You can learn more at Best Ways To Find Virtual Assistant Jobs.
9. Freelance writer
As a freelance writer, you get to write for different clients and websites. You can work from home and set your own hours. This side hustle can be very flexible, especially if you enjoy writing.
I’ve been a freelance writer for many years, and I really enjoy it. I’ve written for lots of different websites and companies, and I’ve made good money doing it.
The positives of being a freelance writer include:
Flexible schedule: You can write during your free time.
You get to decide what you want to write about: You get to write about different topics.
Work from home: No need for a commute.
There are some cons, though, such as income can vary, with some months being busy while others are slower. Finding clients requires actively searching to keep work steady. Plus, meeting deadlines can also be stressful, adding pressure to the job.
Freelance writing is a great side hustle if you love to write and want to make extra money. It takes time to build a steady income, but it can be very rewarding.
You can learn more at 14 Places To Find Freelance Writing Jobs – (Start With No Experience!).
10. Receipt scanning apps
Using receipt scanning apps is an easy way to earn some extra money. You just take a picture of your receipts from shopping, and these apps give you points or cash back. Here are some of the best apps to try:
I’ve been using receipt-scanning apps for years, and I love how easy they are to use. You can earn points or cash without spending much time. Plus, since I already have the receipts, it’s great to make some extra money by doing almost nothing.
My favorite receipt-scanning apps are:
I like to use both Fetch Rewards and Ibotta on all of my receipts (yes, at the same time to stack rewards).
Receipt-scanning apps can be handy, but they do have some downsides. One of the main drawbacks is that the rewards are usually small, so it can take a while to earn a significant amount. You also have to remember to scan receipts regularly, which can be time-consuming and easy to forget.
For me, though, I like to use them on all of my receipts as it only takes a quick moment to do.
11. Mystery shopping
When I had student loans to pay off, I turned to mystery shopping to make extra money. It didn’t make me rich, but it helped increase my income and allowed me to enjoy some free meals and free stuff (like free makeup and household goods).
Mystery shopping involves acting like a regular customer and then reporting on your experience. You might review a restaurant, shop at a store, or even evaluate a phone call. Companies use your feedback to improve their service.
What I like about mystery shopping:
Extra cash (typically $10 to $15 per mystery shopping task)
Free items or meals (you’re usually given an amount to spend in the store or restaurant)
Flexible schedule
Mystery shopping helped me make around $100 to $200 a month.
Joining a reliable mystery shopping company is important, though, as there are a lot of scams. I used Bestmark and had a good experience with them.
Mystery shopping won’t replace a full-time job, but it’s a fun way to make some extra money.
You can learn more at How To Become A Mystery Shopper.
12. Babysitter
Being a babysitter is a flexible side hustle. You can choose your own hours and accept jobs that fit your schedule.
Parents often need help on weekends or evenings, which can be perfect if you are busy during the day.
What I liked about babysitting:
Good pay – around $15 to $25 per hour (depending on where you live)
Helps develop responsibility
Flexible hours
Of course, there are downsides to being a babysitter, such as it can be tiring watching kids for long periods, and sometimes this side job means that you’ll be working late nights or weekends.
I was a babysitter when I was younger and I really liked it. The kids I babysat were fun to be around!
13. Coaching
Coaching can be a great side hustle. You get to help people grow and achieve their goals. It also offers flexibility because you get to be your own boss and decide your work hours.
I used to offer blog coaching in the past, and I enjoyed helping people learn how to grow their blogs and make money blogging.
It was also really easy for me to do, as I have been blogging for many years and have learned a lot about what to do and what not to do.
If you have the expertise and enjoy motivating others to improve, then there is probably a topic that you can coach others on.
14. Course creator
Creating an online course can be a game changer for your income. I launched my first course, Making Sense of Affiliate Marketing, in July 2016. Within the first year, it brought in around $434,698. This wasn’t due to any fancy marketing techniques but mainly through word-of-mouth.
Even though the course was successful, it didn’t come easy. I was nervous about it, especially since it was my first. I had worries that no one would be interested. Plus, many people said that your first course usually isn’t great.
Yet, the desire to help others understand affiliate marketing kept me going. By sharing my knowledge, I aimed to help bloggers increase their income. Online courses are beneficial because they can include interactive materials, workbooks, and community support, which go beyond what an ebook offers.
Here are some success stories from my course:
One student increased their monthly income from $272 to $4,400.
A new blogger got their first affiliate sale just two days after taking the course.
Another went from earning $87 a month to over $1,700 the next month.
And I have helped countless bloggers earn well over $100,000 a year from their blog and turn it into a full-time income.
Creating a course is a lot of work, but it can also be very rewarding. It allows you to reach a wider audience and can become a substantial income stream. If you have knowledge to share, you may want to try creating your own online course.
This is a business idea that I recommend more people start! I enjoy taking courses from people and sign up for them all the time. I love learning, and so do others.
You can learn more at How I’ve Made Over $1,000,000 From My First Course Without a Big Launch.
15. Affiliate marketing
Affiliate marketing is one of the most popular side hustles. It’s easy to start and doesn’t need a lot of money up front.
You promote products and earn a commission for every sale made through your referral link. This can be done on social media, a blog, a YouTube channel, and more.
What I like about affiliate marketing:
Low start-up cost: You don’t need much money to start.
Flexible schedule: Work when you want.
Passive income: You can earn money even when you’re not working.
Affiliate marketing can be a fun and profitable side hustle. Just remember to stay patient and persistent!
You can learn more at What You Need To Know About Affiliate Marketing For Beginners.
This small house we owned had 4 bedrooms and we rented out two of them.
16. Rent out a room in your home
Renting out a room in your house can be a simple way to make extra money. If you have unused space, like a spare bedroom or basement, you can turn it into a rental.
I have had several roommates in the past, and I liked this side hustle a lot.
What I liked about making extra money by renting out a spare room:
Extra income to help pay the mortgage
If you have unused space, then this can be a good way to fill it
Of course, there are challenges to having a roommate, and it isn’t always perfect. Sometimes, it can be hard to share common spaces (like the kitchen and bathroom), and it can also take time to adjust to someone else’s lifestyle.
Renting out a room isn’t for everyone, but it can provide steady income with minimal effort.
17. Shop at cash back websites
Shopping at cash back websites is an easy way to earn extra money. These sites give you a percentage of your purchase back as cash. You just have to sign up, shop through their site, app, or browser extension, and earn rewards.
I like cash back sites because they are easy to use and you don’t have to pay anything extra for using them.
Shopping through cash back sites can give you a nice little bonus on things you already planned to buy. It’s like getting paid to shop.
My favorite cash back sites are:
Rakuten (for online shopping like clothing, home goods, etc.)
Upside (for gas)
Honey (for online shopping like clothing, home goods, etc.)
Fetch Rewards (for groceries)
18. Earn credit card rewards
Using credit cards (the smart way) can help you earn rewards like cash, travel points, and more.
I’ve been using rewards credit cards for years, and now they’re the only cards I use. They help me save money on travel, earn cash back, and more.
By choosing the right credit card and using it wisely, you can enjoy great rewards and make the most of your spending.
Remember, carrying a balance on your credit card can lead to interest charges, which can outweigh the benefits of rewards. Always try to pay off your full balance each month to avoid these fees.
You can see my favorite credit card rewards at Best Rewards Credit Cards For This Year | What You Need To Know.
19. Brand ambassador
Being a brand ambassador is one of the more popular side hustles.
You represent a company and help promote its products. Often, you act as a public spokesperson. You can find opportunities on Facebook and many cities have brand ambassador groups where gigs are posted.
Brand ambassadors can earn between $15 to $20 per hour. Some high-end gigs can pay up to $100 per hour.
Benefits of this side hustle include flexible hours and the chance to work for brands you like. You may be able to get free products or swag, too, and this is one thing I really liked about being a brand ambassador in the past.
20. Newspaper delivery
Delivering newspapers can be an easy way to make money. It’s a job you can do before school or work, and it lets you get exercise too. You may drive, ride your bike, or walk to each house and leave the newspaper by the door.
The benefits of newspaper delivery include:
Exercise: If you walk or ride your bike, you can get plenty of fresh air and exercise.
Scheduling: Most routes are in the early morning, so you still have the rest of the day free.
Tips: Some customers might give you tips during holidays or for good service.
But, there are some downsides, with the main one being that you typically have to wake up really early for this job. For newspaper delivery, you usually have to wake up very early in the morning, often around 3:00 to 5:00 AM. The exact time depends on how big your delivery route is and what the newspaper company requires. The goal is to have all the newspapers delivered by the time most people wake up, usually around 6:00 or 7:00 AM, so starting early is really important.
The other main negative is that a big collection of newspapers is, of course, heavy!
When I was younger, I helped a friend’s family with their newspaper run whenever I slept over at their house. They used their van to deliver a bunch of newspapers, and I got to tag along.
21. Help others with their resume
Helping others with their resume can be a rewarding side hustle. You can earn extra money while also making a big difference in someone’s job hunt.
When I was in my last year of college as well as about a year after I graduated, I helped several people with their resumes. I didn’t charge a lot (and many times worked for free or for a free meal), but I liked looking at resumes and finding ways to make everything sound better.
I was also really good at it and it came so easy to me!
Some benefits of this side hustle include:
Flexibility: You can do this from home.
High demand: Many people need help with their resumes.
Work at your own pace: There’s no rush, and you can take on as many clients as you want.
By helping others with their resumes, you can earn money and provide help. It’s a great way to use your skills and make a difference in someone’s life.
22. Enter contests and giveaways
Entering contests and giveaways can be a fun and rewarding side hustle. You will definitely not win every time, but the more you enter, the higher your chances. People have won cash, gift cards, vacations, and electronics through these events.
You can spend a little time each week entering different contests. You can find them online, on social media, and in emails from brands you follow. Some people set aside about an hour each week to enter as many as they can find.
I found success this way. For example, I once won $10,000 from a financial blog’s anniversary contest, and this was a major win early on in my side hustle journey.
Remember, entering contests should be fun. Think of it as a hobby that could pay off with some great surprises. You most likely won’t get rich nor win the lottery doing this.
This is a screenshot from this month. I earned around $300 playing games on my phone.
23. Rewards sites (GPT sites)
Rewards sites, also known as GPT (Get-Paid-To) sites, are platforms where you can earn money by doing simple tasks online.
Tasks you might do include:
Taking surveys
Reading emails
Playing games
Shopping online
Trying new apps and services
Clicking ads
Rewards sites have been around for a while and have proven to be a reliable way to earn some extra cash. Though the payouts are often small, they can add up over time. For instance, Swagbucks has paid out over $80 million to its users.
Using multiple sites can help maximize your earnings. It’s easy to do tasks during your free time, making it a flexible way to earn money without a huge time commitment.
It’s key to choose reputable sites to make sure that you get paid for your efforts, so I recommend that you stick with popular, well-reviewed platforms to avoid scams.
Rewards sites will most likely not replace a full-time income, but they can be a fun way to get some extra spending money.
Here’s a quick list of the best GPT sites:
24. Test websites (User Testing)
Testing websites, also known as user testing, is a popular side hustle. You get paid to visit a website or app and give feedback on your experience.
You will need a computer, a reliable internet connection, and sometimes a microphone.
User testing is flexible. You can do it in your free time from the comfort of your home. This side hustle is great if you like trying new things and providing feedback.
I have personally been paid to do user testing in the past, as well as paid others to do user testing on this very website, Making Sense of Cents. I thought it was an easy side hustle where you just share what you honestly think of a website.
25. College textbook resale
Selling your college textbooks is a great way to make some extra money.
When I was in college, I sold all of my college textbooks once I was done, and I always tried to make the most money (so, that typically meant that I never sold it directly back to my college bookstore, because they usually paid the least amount).
Reselling college textbooks as a side hustle has its ups and downs.
On the plus side, there’s a high demand for cheaper, used textbooks, so you can make good money if you buy low and sell high. It’s easy to start, especially if you begin with your own used books, and it’s a great way to encourage reusing materials.
But the market is seasonal, with most demand at the start of each semester, so your income might be inconsistent. New editions can come out, making older books less valuable, and storing a lot of books can be tough. Plus, shipping heavy textbooks can cut into your profits if you’re not careful.
Recommended reading: 17 Best Places To Sell Used Books For Cash
Frequently Asked Questions
Below are answers to common questions about finding the best side hustle.
What are the top side hustles that can bring in good money?
Top side hustles that can bring in good money include freelancing, blogging, flipping items for resale, and renting out rooms in your home.
How can I find side hustles that pay me every week?
You can find weekly pay side hustles through gig economy platforms like Uber, Lyft, and DoorDash. Freelancing on websites like Upwork or Fiverr might also pay weekly, depending on your agreement with clients. Another option is finding part-time jobs at local businesses that pay weekly wages.
Can you suggest some side hustle ideas I can do from my house?
There are several home-based side hustles. You can start freelancing in areas like writing, graphic design, or social media management. Another idea is to sell virtual assistant services. Teaching online courses or tutoring students in subjects you excel at is also a great way to earn from home.
What side jobs are out there for someone with no experience?
There are many side jobs for beginners. You can try pet sitting or dog walking through apps like Rover. Babysitting is another option if you like spending time with children. Delivery driving for companies like Uber Eats or Instacart doesn’t require much experience and can be started quickly too.
My Favorite Side Hustles – Summary
Now that we have gone over my full list, I want to talk about one of the main deciding factors of a side hustle.
Your time is important. Some side jobs take a lot of time but don’t pay well, while others pay more with less time.
Think about how much free time you have after your main job and how much money you want to make. This balance is very important. Track the hours you work and the money you earn to see if it’s worth it. The best side job fits into your life without stressing you out.
Also, another important deciding factor is choosing a side hustle that aligns with your skills and lifestyle. If you’re good at something, you’re likely to enjoy it more and perform better.
So, I recommend thinking about your current skills and hobbies. Matching your side hustle to your skills makes it easier and more enjoyable. Plus, you’re more likely to find success and earn extra income.
