Small Business Archives - Page 14 of 115

Apache is functioning normally

January 31, 2024 by Brett Tams

Inside: Learn the roadmap to financial freedom with no money. Surpass debt, embrace millionaire habits, invest wisely & start a victorious journey to become financially independent!

Navigating the road to wealth can feel daunting, especially without a financial head start. But the journey to becoming a millionaire isn’t reserved for the lucky few with an inheritance at their heel.

It’s about strategy, perseverance, and making informed decisions.

Reaching the status of a millionaire is possible. I have done it and many other Money Bliss readers as well.

You have to change your mindset to make this happen. Becoming financially stable is of utmost importance.

Now, if you are serious about making seven figures in your net worth, then keep reading on how to do it.

Foundations of a Millionaire Strategy with No Money

Building a wealthy future from the ground up demands a strong and comprehensive financial plan. This isn’t something super fancy and you don’t need crazy knowledge.

You just have to start and be determined.

Step 1: The Essential First Steps Toward Financial Growth

Before plotting any course, assess your current circumstances candidly. Are you battling debts? Barely managing expenses? Or perhaps saving inconsistently? Acknowledging your starting point is critical.

A financial plan acts as your roadmap. It outlines not only your current standing but also sets the destination: your millionaire goal. This is not a figure plucked from thin air but rather a calculated estimate determined by your aspirations and timeframe.

Structure your plan to encompass these elements:

Income Assessment: Calculate your total annual income, be it from your primary job or any side gigs you maintain.
Expense Analysis: Track every expense. From the daily coffee to the monthly rent, understand where your money is going.
Debt Strategy: High-interest debts can cripple financial growth. Prioritize paying off these debts to alleviate financial pressure.
Savings Plan: Start with achievable goals. Perhaps saving $100 a month initially, then incrementally increasing as your earnings grow.
Investment Consideration: Every dollar saved should be working for you.

Ultimately, keep your plan documented and visible. Regular interaction with your strategy keeps the vision of financial growth at the forefront of your daily choices.

Step 2: Harness a Mindset Crafted for Success

Maintaining a positive mindset can significantly amplify your success with money, empowering you to manifest your financial ambitions with clarity and confidence.

This positivity helps to reframe financial obstacles as opportunities for growth. To cultivate this prosperous mindset:

Practice gratitude by acknowledging and appreciating what you already possess, which can create a sense of wealth beyond the monetary value.
Counteract negative thoughts about money by consciously redirecting them into positive money affirmations, reinforcing your belief in your financial acumen and capabilities.
Focus on your ultimate goals and align your behaviors accordingly.

Step 3: Starting Small: Saving with Limited Means

When funds are scarce, saving can seem impossible. However, even the most modest savings habits can blossom into significant wealth over time. The key is to start – no matter how small, and to remain consistent.

Implement these techniques to save effectively on a tight budget:

Automate Savings: Set up a direct deposit from your paycheck to a savings account.
Savings Challenges: Engage in one of my popular money saving challenges.
Save Raises and Bonuses: Save at least half of any raises, bonuses, or tax refunds you receive rather than increasing your spending.
Micro-Saving Apps: Consider using apps that round up your purchases to the nearest dollar and save the difference.

Saving is habitual. Even with a limited budget, adapting ways to make saving a consistent part of your financial behavior is crucial.

Start with a small percentage that won’t strain your daily living but will quietly accumulate in the background. These mini saving challenges are perfect!

Step 4: Handling Debt: Strategies for Minimizing Financial Burdens

Tackling debt is a pivotal stage on the road to financial freedom and accumulating wealth. Personally, this is exactly what happened to me. Once we paid off our debt, we were able to increase our net worth substantially.

Simply put… When debt is left unchecked, it can blossom into an insurmountable challenge, thwarting efforts to acquire wealth. The cash flow killer.

Consider these tactics to manage and minimize your debt:

Debt Audit: Begin by evaluating all your debts. Take note of balances, interest rates, and minimum payments. Understanding the total sum of your debts is essential for forming a repayment strategy.
Prioritize High-Interest Debts: High-interest debts such as credit cards can quickly grow beyond control. Prioritizing these debts for repayment can save you a significant amount in interest over time.
Debt Snowball vs. Avalanche: Choose the method that will keep you motivated and align with your financial goals.
Negotiate with Creditors: If you’re in financial hardship, reach out to your creditors to negotiate for lower interest rates or modified payment plans. Many creditors prefer to work out a payment plan rather than risk not being paid at all.
Avoid Accumulating New Debt: As you pay off existing debts, it’s crucial not to accrue new ones. Stick to your budget and avoid temptations that could lead to further debt.

Remember, every debt you free yourself from is one step closer to letting your money work for you, not against you.

Step 5: Identifying Skills That Pay: Turning Talents into Revenue

In the evolving economy, capitalizing on your skills can be a powerful way to generate additional revenue streams. The beauty of skill-based earning is that it can fit around a traditional job and can be scaled up or down as your situation changes.

Here are possible avenues to pursue:

Demand for Your Skills: Look at the market and find out if you can outsource your skills
Start Freelancing: Platforms like Upwork, Fiverr, and Freelancer can connect you with clients looking for your specific skillset. Begin with competitive pricing and build up your portfolio and rates as your experience grows.
Teach Others: If you’re knowledgeable in a particular area, consider creating an online course or conducting workshops. With platforms like Teachable or Udemy, you can reach a global audience.
Networking: Leverage social media, professional networking sites like LinkedIn, and community forums. This builds your professional presence and can lead to job opportunities.

Lastly, do not be afraid to ask for a pay raise. Thus, will help you fast-track your path to six figures.

Step 6: Side Hustles and Entrepreneurship: Growing Your Earnings

To build real wealth, especially with no initial capital, earning income from multiple streams can be a game-changer. Side hustles and entrepreneurship are about leveraging your time, talents, and sometimes minimal financial investments to grow your income outside of your primary job.

Almost every millionaire I know has a side hustle or business that helped them to get to that point.

Here’s how you can expand your earnings with side hustles and entrepreneurship:

Make money online: The fastest growing area is knowing how to make money online. Even seemingly mundane skills can be lucrative.
Choose the Right Side Hustle: You can choose to make money or chill and watch TV. Pick on the popular side hustles to get started today.
Start Small Business Ventures: Consider creating a small business. It could start as simple as lawn care services, homemade goods, or consulting. Validate your business idea with minimal investment before scaling up.

As financial expert and entrepreneur Ramit Sethi states, “There’s a limit to how much you can save, but there’s no limit to how much you can earn.”

By actively growing your earnings and establishing additional income streams, you accelerate your trajectory toward millionaire status.

Step 7: Investment 101: Basics for the Beginner Investor

Investing is the escalator to wealth, turning your savings into passive income generators.

For beginners, the world of investing can seem labyrinthine, but with foundational knowledge and strategic baby steps, you can begin to navigate it confidently.

Don’t be afraid of the stock market as you are giving up way too much money! This was the stupid mistake I made in my 30s. Now, my investment portfolio is the primary way I am growing my wealth today.

Here’s what you need to know to get started with investing:

Start with a Retirement Account: If your employer offers a retirement plan, like a 401(k), especially with matching contributions, take full advantage of it. This is often a beginner’s first, and potentially most profitable, investment.
Low-Cost Index Funds: As a beginner, it’s wise to invest in low-cost index funds, which are designed to mimic the performance of a particular market index. They are diversified and typically have lower fees.
Automatic Investing: Set up automatic transfers to your investment account to facilitate regular contributions without having to actively think about it. Don’t forget to select which fund to invest in.
Educate Yourself: Take advantage of online resources, books, and courses to understand the basics of stocks, bonds, and other investment vehicles. This is what I did – invest in my stock market knowledge and it has paid off big time!
Understand the Rule of 72: A simple formula to estimate the doubling time of an investment. For example, at a 7% average annual return, your money could potentially double every roughly 10 years.
Understand Risk vs. Reward: All investments carry some level of risk. Typically, higher risk could mean higher potential returns, but also greater potential losses. Assess your risk tolerance before investing and use those stop losses!

Investing isn’t a sprint; it’s a marathon with compound interest serving as the tailwind to push you forward over time. Learn how to invest in stocks for beginners.

Step 8: Retirement Accounts: Why Maxing Out Early Matters

By maximizing contributions to retirement accounts, you not only safeguard your golden years but also capitalize on tax-advantaged growth, which can be substantial over time.

Just because you are in your 20s or 30s, don’t say I’ll invest later. You are missing the boat.

Here’s why it’s beneficial to start maxing out your retirement accounts as soon as possible:

Compounding Interest: The earlier you start, the more you benefit from compounding interest.
Tax Benefits: Contributions to retirement accounts like 401(k)s and traditional IRAs are made each year, but they come with limits and potential tax-deferred (IRA) or tax-free (Roth IRA) accounts.
Employer Match: Many employers offer a match on 401(k) contributions up to a certain percentage. Failing to contribute at least enough to get the full match is akin to leaving free money on the table.
Higher Contribution Limits: The earlier you start maxing out, the less you have to play catch-up later. The IRS sets annual contribution limits, and consistently hitting those maximums can mean a considerable difference in your retirement savings over time.

By comprehensively engaging with your retirement accounts from an early age, you start an assured path towards the millionaire echelon.

Yes, it is possible to have multiple Roth IRA accounts.

Step 9: Adopting the Growth Attitude: Learning from Millionaire Mentors

The difference between those who accumulate wealth and those who don’t can often be traced back to mindset and mentorship. Adopting a growth attitude and learning from successful individuals can accelerate your path to prosperity.

Millionaires, with their experience and results-driven approaches, often provide valuable insights into effective wealth-building strategies.

Here’s how tapping into the wisdom of millionaire mentors can benefit your financial growth:

Learning from Their Experiences: Millionaires can share their triumphs and tribulations, offering you a roadmap that highlights what to do and what pitfalls to avoid. Cultivate these millionaire habits in your life.
Networking Opportunities: Millionaire mentors often have expansive networks. By building a relationship with a mentor, you may be introduced to key connections that can lead to lucrative opportunities.
Mindset Shift: Interacting with successful individuals can shift your perspective from a fixed mindset to one that embraces challenges, persists in the face of setbacks, sees the effort as the path to mastery, and learns from criticism.
Innovative Thinking: Mentors can inspire innovative approaches to income generation, investment, and savings. They can encourage out-of-the-box thinking that may lead to financial breakthroughs.
Emulating Success: By observing the habits and tactics of millionaires, you can emulate strategies that have proven successful while avoiding practices that may lead to failure. Start these billionaire morning routines to help you.

By adopting a growth attitude and learning from the insights and experiences of millionaire mentors, you sharpen your financial acumen and enhance your ability to create and capitalize on wealth-building opportunities.

Step 10: Community Counts: Surround Yourself with Success

The people you surround yourself with can significantly influence your thoughts, actions, and ultimately, your success. By intentionally building a community of hard-working, success-oriented individuals, you can foster an environment that promotes wealth accumulation.

Here is why it’s crucial to immerse yourself in communities that align with your aspirations:

Shared Success Mindset: In a like-minded success-oriented community, you’ll find individuals who have goals similar to yours and an attitude that is conducive to financial growth. This collective mindset can reinforce your own ambitions.
Peer Learning: Being a part of a community allows for collaborative learning. Exchange insights, experiences, and tactics with peers who are also on a path of financial growth. I love my masterminds!
Accountability: Just as with individual mentors, a community can keep you accountable. Regular interactions with people who take financial success seriously can encourage you to do the same.
Cross-Pollination of Ideas: Varied perspectives in a group can lead to a cross-pollination of ideas, sparking creativity and innovation in your own wealth-building strategies.
Increased Confidence: As you witness others achieving success, it instills a belief that you can do the same. This confidence can push you to take calculated risks that lead to greater rewards.

This adage stresses the importance of being selective with the company you keep, as their attributes frequently rub off on you, influencing your path to becoming a self-made millionaire. Likely you want friends who are millionaires or striving to be, too.

Step 11: Steer Clear of Debt: Remaining Unshackled as You Ascent

The gravitational pull of debt can be a formidable force, impeding one’s ascent toward the zenith of financial independence. But, you can overcome this by using these debt free living habits.

Here are strategies to remain unshackled by debt:

Budget Religiously: A budget constrains overspending and reduces the temptation to rely on credit.
Build an Emergency Fund: A substantial emergency fund can cover unforeseen expenses, diminishing the need to fall back on credit cards or loans that could exacerbate your financial situation.
Spend Less Than You Make: This may sound simple, but this helps you to live within your means and avoid going into debt.
Discern Needs from Wants: Be meticulous in distinguishing true needs from mere wants.

Ultimately, your ability to evade debt not only safeguards your financial stability but also amplifies your capability to invest and save, propelling you firmly on the trajectory toward millionaire status.

Step 12: The Lifestyle Inflation Trap: Keeping Expenses in Check

Success and salary hikes can often lead to lifestyle inflation, a phenomenon where spending increases as income rises, negating the potential for savings and investments. Keeping lifestyle inflation at bay is pivotal to ensuring that growing income translates into growing wealth.

Here’s how you can avoid the lifestyle inflation trap and keep expenses in check:

Stick to Your Budget: Even as your income grows, maintain the budget that facilitates your savings habits.
Identify Trigger Points: Be aware of what prompts you to spend more. Sometimes, seeing others upgrade their lifestyle can trigger the same desire. Stay focused on your financial goals rather than external influences.
Automate Savings Increases: When you receive a raise or bonus, immediately update your automatic transfers to increase the amount going into your savings or investment accounts.
Value Experiences Over Possessions: Studies have shown that experiences bring more lasting happiness than material goods. Opt for a modest increase in experiences rather than expensive goods as your income grows.
Embrace Minimalism: Adhering to minimalist principles can reduce the urge to accumulate non-essential items, keeping spending down and savings rates up.

Avoiding lifestyle inflation doesn’t mean living as frugally as possible regardless of how much you earn. It’s about finding a balance that allows for a comfortable yet modest lifestyle, wherein you can enjoy the fruits of your labor without compromising your long-term wealth goals.

Billionaire investor Warren Buffett exemplifies this principle by still living in the house he bought in 1958 for $31,500 and driving a reasonably priced car. Buffett’s lifestyle choices display an astute awareness of the perils of unnecessary spending and emphasize the importance of consistency in financial discipline.

Step 13: Compounding: The Wonder that Builds Big Balances Over Time

Compounding interest is a powerful tool that has the potential to turn modest savings into vast sums over time.

The principle behind compounding is straightforward: the returns you earn on your investments generate their own returns in the next cycle, leading to exponential growth given enough time.

Here’s how the wonder of compounding works to build big balances:

Start Early: The magic of compounding is maximized by time. The sooner you start investing, the more cycles of compounding your money can go through, and the larger your balance can grow.
Reinvest Your Returns: To truly harness the power of compounding, reinvest the interest, dividends, and any capital gains you receive, rather than spending them. This increases your investment balance, which in turn means more significant potential returns in the next cycle.
Regular Contributions: Make regular contributions to your savings and investments. Consistent additional deposits can significantly amplify the effects of compounding over the long term.

Step 14: Procrastination and Perils: Why Immediate Action is Crucial

Procrastination is often the thief of time and opportunity, especially when it comes to financial decisions. Postponing essential actions like saving, investing, or paying down debt can have compounding negative effects, making it harder to achieve financial goals.

Understand the perils of procrastination and the importance of immediate action:

The Cost of Waiting: In the realm of investment, the longer you wait to begin, the more you miss out on the potential compounding returns. Delayed action can mean the difference between a comfortable retirement and a financially insecure one.
Opportunity Loss: Procrastination can lead you to miss out on time-bound opportunities, such as market dips that are ideal for purchasing investments at lower prices or missing the deadline for a tax-advantaged account contribution.
Paying More on Debt: By putting off debt repayment, you accrue more interest, which only increases the total amount you’ll eventually have to pay. Acting quickly to pay off high-interest debt saves money in the long run.
Increased Stress: Delaying important financial actions can lead to an accumulation of stress and anxiety, which can, in turn, impair your ability to make sound financial decisions.
Potential for Rash Decisions: When you constantly procrastinate, you might eventually rush into decisions without adequate research or consideration, leading to poor financial outcomes.

Recognize this type of behavior and set weekly money meetings with yourself to help you move forward – one task at a time. Grab an accountability partner too!

Step 15: Long-Term Vision: Setting Up For Sizeable End Gains

The journey to becoming a millionaire is often a marathon, not a sprint.

Nurturing a long-term vision for your financial future is essential in guiding your daily decisions and motivating you to stay the course.

To ensure sizeable end gains, you need to establish and maintain a future-oriented mindset:

Set Long-Term Financial Goals: Establish clear, achievable long-term financial goals that align with your desired = future. Whether it’s attaining a specific net worth, owning property outright, or securing a comfortable retirement, these goals should inspire your action plan.
Strategic Planning: Develop a comprehensive financial plan that includes savings, investments, retirement accounts, and estate planning. This plan should act as a living document that you can adjust as your circumstances and goals evolve.
Patience is a Virtue: Recognize that wealth typically accrues over time, and not without fluctuation. Stay patient and avoid knee-jerk reactions to short-term market swings or temporary setbacks.
Regular Investments: Commit to making regular investments, even in small amounts. Over time, consistent contributions can result in substantial wealth through compounding interest.

It’s about creating financial disciplines that compound over time, ensuring that with each day, month, and year, you’re progressively building towards a considerable nest egg.

FAQ: Climbing the Financial Ladder Without a Silver Spoon

Getting rich with no money might seem like a paradox, but it’s a trajectory that many self-made millionaires have pursued successfully. The blueprint involves a combination of mindset shifts, disciplined financial habits, and strategic action.

You have to take proactive steps to increase wealth even when starting from zero.

Starting from nothing and achieving millionaire status requires a multifaceted strategy, encompassing personal development, financial planning, and an entrepreneurial approach to income generation.

Wealth creation is a journey, and starting from zero means that progress may be slow initially.

However, by adopting these steps and maintaining a disciplined and proactive approach, you incrementally increase your chances of accumulating significant wealth.

Ready to Become a Millionaire with Nothing?

Are you ready to become a millionaire with nothing but your ambition, intellect, and unwavering resolve? If your answer is a resounding yes, then it’s time to take the first step.

With every small victory and learned lesson, you inch closer to your ultimate goal.

Your journey starts with dedication, a commitment to yourself that from this day forward, you will work relentlessly toward the life you envision.

Wealth is not just about the money you accumulate but also the knowledge, experience, and relationships you develop along the way. Wealth creation is often not a straight line but a series of strategic moves and consistent behaviors that, collectively, lead to financial success.

Remember, your current financial position is just a starting point – with the right mindset and actions, significant financial growth is within the realm of possibility.

Your next step is working towards becoming financially independent.

Did the post resonate with you?

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

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

Source: moneybliss.org

Apache is functioning normally

January 29, 2024 by Brett Tams

Looking for the best jobs for single moms? Being a single mom can be hard because you have to manage both your job and taking care of your kids. There are not many hours in a day, so it’s probably important to you to find a job that pays you a good income and lets…

Looking for the best jobs for single moms?

Being a single mom can be hard because you have to manage both your job and taking care of your kids. There are not many hours in a day, so it’s probably important to you to find a job that pays you a good income and lets you take care of your children.

The good news is that nowadays, there are many stay at home jobs for moms. This means you don’t have to follow a strict 9-to-5 schedule, making it easier to balance work and family. There are also many in-person jobs that allow you to have a better schedule to match your children’s schedule (such as when they are in school!).

Whatever you may be looking for, there are many flexible jobs for single moms. Continue reading below to learn more!

Best Jobs for Single Moms

Below is a quick summary of some of the best jobs for single moms.

Bookkeeper – You can organize the finances for businesses and have flexible working hours. With quick training, entry-level bookkeeping jobs might start at around $20 per hour, but with experience, you could earn a lot more.
Blogger – Bloggers get to work from home and make their own schedule, which is great for anyone, including single moms.
Teacher – Teaching probably aligns well with your child’s school schedule. Whether full-time, substitute, or part-time, teaching can be a good choice.
Virtual Assistant – This job involves helping businesses with tasks online, and you can typically make your own schedule.
Childcare provider – If you enjoy taking care of children, providing childcare for others while watching your own can, at the same time, be a way to earn money.

Below, you can learn about each of these, as well as many more of the best jobs for single moms.

1. Blogger

Blogging is one of the best jobs for single moms, and this is because you can work from home, make your own flexible schedule, and be your own boss; these are all reasons why I think it’s one of the best jobs for single moms who stay at home.

Plus, to start, you don’t need a lot of stuff – just a computer and internet.

I do this myself while taking care of my daughter, Marlowe. Blogging lets me travel whenever I want, make my own work schedule, earn good money, write about topics I like, and I really enjoy having a blogging business.

I started Making Sense of Cents in 2011, and since then, I’ve earned over $5,000,000 with my blog. When I began, I didn’t know it would become one of the best jobs for stay-at-home moms. Now, blogging lets me have a flexible schedule and spend lots of time with my daughter. It’s been a great way to balance work and family for me.

You can learn how to start a blog with my free How To Start a Blog Course (sign up by clicking here).

In this free course, you will learn:

Why you should start a blog today
How to decide what you should write about
How to create a blog (this will go over the actual step-by-step process)
How to make income from your blog
How to get people to read your blog

And more!

Want to see how I built a $5,000,000 blog?

In this free course, I show you how to create a blog, from the technical side to earning your first income and attracting readers.

2. Day care (and bring your kid)

Finding a job that lets you bring your child along can save you childcare costs and watching other people’s kids is one way to do it.

You could start your own day care or find a job at a day care.

If you want to start a home day care, then you will want to check your state’s rules for home day cares, such as if you need a license. You’ll also need a safe space for children, as well as toys and games.

You could also try to find a job at a day care in your local area. Many day care centers allow you to bring your child, or they will give you a discounted rate to have your child attend the day care as well while you work.

Another option is to become a nanny or babysitter for a family that allows you to have your child there as well.

Starting a day care, working in one, or becoming a nanny/babysitter can be a win-win. You earn money and don’t worry about finding someone to watch your kid. Plus, your child gets to play and learn with other children.

Recommended reading: How to Make Money on Maternity Leave: 27 Real Ways

3. Sell printables

Selling printables is a great work-from-home business idea for single moms. This is because you can do this while your kids are sleeping or at school and earn passive income too!

Printables are digital files that people buy, download, and print themselves. These can include planners, calendars, wall art, grocery shopping checklists, weekly meal plans that someone puts on their fridge, and educational worksheets for kids.

You can sell your printables on websites like Etsy. This is a way to make money from home because you only need to make one digital file for each product, and you can sell it many times. You don’t have to print or send anything to your customers. You make the digital file; your customer buys it, downloads it, and takes care of the rest.

I recommend reading about this further at How I Make Money Selling Printables On Etsy to learn more about one of the best jobs for stay-at-home moms.

Do you want to make money selling printables online? This free training will give you great ideas on what you can sell, how to get started, the costs, and how to make sales.

4. Virtual assistant

As a single mom, you may be looking for a job that fits into your schedule. Working as a virtual assistant (VA) could be your answer, as you get to work from home and choose hours that work for you.

I’ve worked as a virtual assistant before, and I also have virtual assistants who help me with my business. Many parents have told me that a virtual assistant job is one of the best jobs for stay-at-home moms because it’s very flexible, and I agree!

A VA is someone who works from home as an assistant for someone else. Nowadays, many businesses can be operated from home, so it makes sense that an assistant can also work from home.

A virtual assistant can do tasks like managing social media accounts, formatting and editing content, scheduling appointments, handling travel plans, managing emails, and overseeing Facebook groups, among other things.

You can learn more at How Kayla Earns $10,000 Each Month From Home as a Virtual Assistant.

5. Freelance writer

If you’re a single mom looking for a job you can do from home, freelance writing might be a good fit for you. It’s a job where you write articles, blog posts, and sometimes even books for money. You don’t have to work in an office; you can write from anywhere, even your own kitchen table.

I have been a freelance writer for years, and it can be a great career choice for someone who wants to work from home.

When you’re just starting as a freelance writer, you might begin by writing articles that pay around $50 each or even more. However, the amount of money you can earn can vary a lot. You may be able to earn around $50,000 a year, and I know several freelance writers who are moms who make over $200,000 per year.

Many people are searching for freelance writers, and this job has a lot of opportunities for growth. It could be a great career to begin with.

Learn more at 14 Places To Find Freelance Writing Jobs – (Start With No Experience!).

6. Book author

If you love telling stories or sharing your knowledge, writing books could be an ideal job for you as a single mom. You get to create your own schedule and work from anywhere, even your home. Writing can be done at times that fit your schedule best, such as when your kids are at school or asleep.

For publishing your book, there are two options:

Traditional Publishing – You submit your manuscript to publishers. If a publisher likes your work, they will print, distribute, and market your book for you. In return, you’ll earn royalties from sales.
Self-Publishing – Platforms like Amazon Kindle Direct Publishing allow you to publish your book yourself. You control every aspect and get a higher percentage of the sales, but you also handle marketing and distribution.

The amount of money that you can make as a book author can vary by a lot. As a first-time author, getting published can be challenging, and earning substantial income takes time. If you self-publish and your book becomes popular, you could make a significant amount. But, this isn’t guaranteed.

Recommended reading: How Alyssa is making $200 a DAY in book sales passively

7. Graphic designer

Graphic design is a creative job that involves making artwork and visual designs. You might create designs for websites (like logos), advertisements, or printed materials like brochures and magazines.

Your work helps companies communicate with their customers through eye-catching and effective visuals.

This can be a great job for single mothers, as you may be able to find a work-from-home job as a graphic designer, or even start your own business where you can make your own flexible schedule.

Recommended reading: How To Make Money As A Digital Designer

8. Social media manager

Becoming a social media manager can be a great fit for single moms looking for remote work jobs.

Social media managers are in charge of social media accounts for businesses or people. Their job is to post on social media, reply to comments, and keep everyone interested.

This can include TikTok, Instagram, Pinterest, Facebook, X (formally known as Twitter), and more.

I have been a social media manager for companies, and it’s a great job that allows you to have a flexible schedule. That means you can work when it suits you – such as when the kids are at school or asleep.

9. Real estate agent

If you’re a single mom looking to balance work and family, becoming a real estate agent might be a great fit. As a real estate agent, you help people buy and sell homes.

To be a real estate agent, you just need a high school diploma and a license.

In 2021, the average pay for this job was $23.45 per hour, which is about $48,770 per year. But, there are many real estate agents who earn much more than this.

10. Proofreader

Proofreaders read documents and check for spelling, grammar, and punctuation errors, and they make sure everything is perfect before it gets printed or published online. They review books, articles, blog posts, social media content, newsletters, advertisements, and more.

If you want flexible work hours, proofreading is a good choice. Depending on your experience and the job’s complexity, you can earn between $20 and $50 per hour and more.

As a single mom, this job lets you balance work with looking after your kids. You can usually set your own schedule and work from home, which can make life a little easier.

You can read more at How To Become A Proofreader And Work From Anywhere.

There is also a FREE 76-minute workshop where you will learn more about how to become a proofreader with Proofread Anywhere. You can sign up for free here.

This free 76-minute workshop answers all of the most common questions about how to become a proofreader, and even talks about the 5 signs that proofreading could be a perfect fit for you.

11. Bookkeeper

If you’re a single mom, becoming a bookkeeper might be a good option for you. Bookkeepers manage money records for businesses by keeping track of all the money that comes in and goes out.

If you work as an online bookkeeper, you could make about $40,000 or more per year. Typically, this involves managing finances for around 12 to 16 clients.

Being an online bookkeeper is great because you don’t need to be an accountant or have any prior experience. Also, virtual bookkeeping is a service that many people are looking for, so there’s a demand for it.

Recommended reading: Online Bookkeeping Jobs: Learn How To Get Started Today

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

12. Transcriptionist

As a transcriptionist, your job is to listen to audio or video files and type out what you hear into text. This is a task that you can do from home, making it a good option if you’re a single mom looking for flexible work.

One of the biggest benefits of this job is flexibility. You can usually choose when and how much you want to work (such as when your kids are sleeping or when they are at school). This can make balancing work and family much easier.

You need to be able to type quickly and accurately and attention to detail is important because you need to catch every single word.

Recommended reading: 18 Best Online Transcription Jobs For Beginners To Make $2,000 Monthly

In this free training, you will learn what transcription is, why it’s a highly in-demand skill, who hires transcriptionists, how to become a transcriptionist, and more.

13. Customer service representative

Customer service representatives help people by answering questions and solving problems on the phone or online, which means they can sometimes work from home.

On average, customer service representatives earn around $35,868 a year as an average salary. This will change depending on where you work and how much experience you have.

Some large companies like Apple, Progressive, U.S. Bank, American Express, and U-Haul hire customer service representatives who can work from home. This means you can do the job from the comfort of your own house.

14. Data entry clerk

Data entry clerks enter information into databases or spreadsheets. They type things like numbers and names into computers to keep everything organized and make sure records are correct.

Jobs in data entry usually pay about $15 to $20 per hour.

Recommended reading: 15 Places To Find Data Entry Jobs From Home

15. Dog walker or pet sitter

If you’re a single mom looking for a job that fits around your schedule, you may want to look into becoming a dog walker or pet sitter. This type of job lets you choose when you work, which is great for making sure you have time for your kids.

As a dog walker, you walk dogs for people who are busy or away from home. You might take them around the neighborhood or to a park. If you’re a pet sitter, you take care of pets while their owners are out of town or at work.

The money you make can vary. Some jobs might pay you each day, like $15 to $25 an hour or a flat rate per day like $75. How much you make could depend on how many pets you care for and how long you spend with them.

Rover is a great company that you can sign up with in order to become a dog walker and pet sitter.

16. BabyQuip

If you’re a mom looking for a flexible side hustle, BabyQuip might be worth looking into. It’s a service where you can rent out baby gear like strollers and car seats to traveling parents – starting is simple: apply online, and BabyQuip will guide you through the process.

As a mom after all, you probably already have a lot of baby gear that you can rent out to make money with.

With BabyQuip, you make money by renting out items you already own or plan to invest in for rentals. Because parents travel, the demand for clean and safe baby gear is always there.

People using BabyQuip can make about $1,000 a month on average, and some even earn more than $10,000 each month.

On BabyQuip, you can rent items like cribs, strollers, car seats, high chairs, toys, bouncers, books, hiking packs, and many other things.

17. Teacher

As a single mom, teaching can be a great career for you. As a teacher, you typically work while your children are in school as well, after all.

Most teaching jobs follow a traditional school year calendar. This means you usually have summers off, along with school holidays, which can help you spend time with your kids.

18. Doula

If you’re a single mom looking for a job, you may want to become a doula. A doula supports women during childbirth, but your work can also extend to helping moms after the baby is born.

They are there to give comfort, encouragement, and knowledge during the pregnancy journey, labor, and the postpartum period.

19. Tutor

If you’re looking for part-time jobs for single moms, then tutoring may be an option to look into.

If you’re a single mom who knows a lot about a specific subject like math, science, or a language, becoming an online tutor could be a smart choice. You can schedule sessions around your life and help students learn. You pick when you work, which is perfect when you have kids at home. You might teach early mornings, afternoons, or even nights.

You will need a quiet place to work, a computer, and a good internet connection.

Income as a tutor ranges, and you may be able to earn $20+ an hour. And, if you specialize in something more advanced, like SAT prep or college courses, you could make more, even up to $50 per hour or more.

20. Photographer

As a single mom, becoming a photographer can be a rewarding job choice for you. With a camera and some practice, you can start taking photos that people will enjoy.

To begin, you need a decent camera. Don’t worry, it doesn’t have to be the most expensive one. You also need to learn about lighting and how to frame a good picture. There are lots of free tutorials online, such as on YouTube, if you want to learn more.

One of the best parts about photography is that you can make your own schedule. You decide when to book photo shoots, which can be great for balancing time with your kids. It’s possible to do photo shoots on weekends or during special events like weddings.

You can earn money by selling your photos online or by working with clients directly. Graduations, weddings, family portraits, and even pet photos can be great opportunities. Pricing varies depending on the job, but as you gain experience, you can charge more for your work.

As you grow, you can invest in better equipment and editing software to enhance the quality of your photos. This helps you stand out and can lead to more jobs and higher pay.

I know many moms who are successful photographers, and they love having a photography business.

Recommended reading: 18 Ways You Can Get Paid To Take Pictures

21. Instacart shopper

If you’re a single mom looking for a job that fits around your schedule, becoming an Instacart shopper might be a good choice. Instacart is a service that lets people order groceries online, and shoppers like you do the shopping and deliver the orders to their homes.

When you’re an Instacart shopper, you can set your own hours. This means you can work when it’s best for you, like when your kids are at school or sleeping. As a shopper, you get a payment card from Instacart to buy the groceries at the store.

Shoppers usually earn about $11 to $20 per hour. It’s important to remember that as an independent contractor, you will have extra costs like gas and vehicle maintenance that you need to think about when figuring out your earnings.

You can learn more at Instacart Shopper Review: How much do Instacart Shoppers earn?

22. Paralegal

As a single mom, you might find the role of a paralegal interesting. It’s a job where you work in a law firm or legal department, helping lawyers by preparing legal documents and doing research.

Your typical work hours are most likely Monday to Friday, fitting well with a school-week schedule.

Paralegals earn around $30,000 to $35,000 a year.

23. Dental assistant

As a single mom, if you’re looking for a job that lets you help people and have regular hours, you might like being a dental assistant. In this job, you work in a dentist’s office and help the dentist with patients.

Your tasks could include getting the tools ready, making sure patients are comfortable, and teaching them how to care for their teeth.

Your week would be busy, but you usually wouldn’t have to work nights or weekends. This is great because it matches up with your kids’ school schedule.

24. Travel agent

As a single mom, you may find that being a travel agent is a job that fits well with your life. It’s a job where you get to plan and book trips for others. You could work from home or an office.

Travel agents plan vacations, business trips, and getaways for clients and they find the best deals on flights, hotels, and fun activities.

The money you earn can vary because some agents get paid hourly and others get a commission, which is a part of the trip cost.

25. Nurse

As a single mom, you might worry about balancing work with taking care of your kids. As a nurse, there are jobs that can fit your life.

Some examples include:

School nurse – You can work the same hours your kids are in school. You’ll care for sick children, keep track of health records, and help with health checks.
Doctor’s office nurse – Working here can be less stressful. Usually, the hours are regular, Monday to Friday, so you can be home with your kids in the evenings and on weekends.
Home health care nurse – You’ll visit patients in their homes, which can give you a flexible schedule.
Public health clinics – These places look after the community’s health. Hours can be more regular, meaning you won’t have to do lots of night shifts.
Nurse educator – If you love teaching, this lets you work in a classroom instead of a hospital. You’ll have a steady schedule, perfect for family time.

26. Speech pathologist

A speech pathologist helps people with speech and language issues. You would work to improve their communication skills, which can be very rewarding.

You need a master’s degree in speech-language pathology and certifications vary by state.

Your work may take place in schools, hospitals, or private clinics. Some speech pathologists work from home providing virtual sessions.

27. Sleep consultant

Sleep is really important for the growth and well-being of babies, and it’s important for parents too. But sometimes, parents find it hard to make sure their child gets the sleep they need.

Pediatric sleep consultants are very helpful in solving children’s sleep problems, making it easier for families to have peaceful nights. If you really enjoy working with kids and want to make a positive difference in their lives, becoming a sleep coach could be a great career option.

I have personally learned from sleep consultants in the past, and I know many others who have hired a sleep consultant as well. These are typically moms who have firsthand experience with improving a baby’s sleep.

Learn more at How To Become A Sleep Consultant And Make $10,000 Each Month.

28. Run a dog treat bakery

If you enjoy cooking, starting a home bakery could be a way to make money from home. It allows you to use your cooking skills to create dog treats and earn some income.

You can make dog treats, cupcakes, cookies, cakes, and more.

Starting a dog treat bakery business could potentially help you earn an extra $500 to $1,000 a month or even more. It’s a niche small business idea that taps into the love people have for their pets.

I also recommend reading How I Earned Up to $4,000 Per Month Baking Dog Treats (With Zero Baking Experience!).

Frequently Asked Questions

Below are answers to common questions about how to find jobs for single moms.

What should a single mom do to handle financial stress?

I get it – as a single mom, you may have a lot of financial stress. It is hard to be a single mom and manage everything all on your own after all. To manage financial stress, I recommend trying to find jobs that pay well but also have flexible hours or work hours that match up with your children’s school schedule. Jobs that allow you to work remotely can also help lower your childcare expenses as you can work from home.

How to work as a single mom without help or childcare?

If you don’t have help or childcare, then you may want to work during hours when your kids are at school or asleep. This may include looking for jobs or employers who understand your situation and have flexible schedules or the ability to work from home.

What are the best work from home jobs for single moms?

I think one of the best ways for a single mom to make money is to work from home. This is because you may be able to make your own schedule, and you may be able to find a job that allows you to take care of your kids at the same time.

The best work-from-home jobs include jobs like virtual assistants, freelance writers, and bloggers.

What are jobs for single moms without a degree?

Jobs for single moms without a degree include administrative support, customer service positions, and sales roles as these jobs usually give on-the-job training.

How can a single mom go back to college and what degrees are best?

You can go back to college by looking for online degree programs, or classes when your children are at school, that fit your schedule. Popular degrees that balance well with being a single mom could be in fields like education, business, or healthcare, which have the potential for career growth.

Best Jobs for Single Moms – Summary

I hope you enjoyed this article on how to find the best jobs for single moms.

Whether you are looking for full-time or part-time jobs for single moms, there are many options that may fit what you need.

As you probably noticed above, jobs for single moms vary and include different types of work. Some jobs are creative, like writing or graphic design, while others are more regular, such as customer service or bookkeeping.

If you enjoy telling stories and writing, you could be a blogger or a freelance writer. If you’re good with organizing and numbers, you might like being a virtual assistant or a bookkeeper.

If you prefer doing your own thing, you could start a home day care or sell printables online.

As you can see, this is a long list of the best jobs for single mothers! There are many different job ideas that you could try that have a good work-life balance.

What do you think are the best jobs for single parents?

Apache is functioning normally

January 29, 2024 by Brett Tams

Navigating the complexities of procuring the best wholesale home decor supplies can occasionally prove to be a daunting task.

As a business, you strive to stock high-quality, distinctive and engaging items that pique the interest of your clientele. However, finding such unique and captivating products isn’t always a straightforward journey.

The quest for the right wholesale products necessitates a considerable amount of research, with a focus on sourcing high-quality items that don’t compromise on aesthetic appeal.

As challenging as this process might be, it is an essential step in ensuring your stock stands out in the competitive home decor market.

In this article, we aim to shed light on the process of finding top-tier home decor supplies. We will delve into the specifics of locating the right suppliers, who can provide a diverse range of intriguing home decor items.

Additionally, we’ll explore and highlight some of the leading home decor suppliers available in the industry today.

Small Business Deals

Whether you are a novice in the industry or a seasoned veteran looking to refresh your inventory, this guide promises to be a valuable resource in your business growth journey.

How to Find Home Decor Suppliers

In the dynamic and ever-evolving world of home decor, locating the ideal suppliers is a crucial task that requires a strategic approach and comprehensive consideration. Here, we delve into some pivotal tips that can serve as a guide in your quest for the perfect home decor suppliers.

Here are some tips:

Develop a strategy considering various sourcing channels to find home decor suppliers.
Look for suppliers that provide a broad array of product styles and regularly update their catalogs.
Consider working with multiple suppliers to diversify your offerings.
Begin your search using Google and explore other online marketplaces.
Assess potential suppliers based on the variety of products, pricing structure, and shipping options to your location.
Determine if the chosen supplier is the best fit for your business needs.
Review shipping policies: most suppliers offer free or discounted shipping based on order size, but always verify before finalizing the order.

12 Best Wholesale Home Décor Suppliers Selling Quality Products for Your Business

In order to assist with your search, we’ve compiled a list of some of the premier home decor suppliers in the market.

These suppliers stand out by providing extraordinary wholesale products, ranging from everyday home accessories to unique, statement decor pieces.

These handpicked items, chosen for their quality and uniqueness, are guaranteed to resonate with your customers, helping them transform their living spaces into a true reflection of their personal style and taste.

If you are starting a home staging business or already have one, these are great resources.

1. Faire

Faire is one of the best online marketplaces if you’re looking for wholesale farmhouse suppliers made by small businesses and companies. They have a huge selection of products, including wooden signs, table linens, tea towels, throw pillows, candles, coasters, collectibles, and other gift items. If you’re looking for truly unique products for your shop with a wide range of prices, Faire should be your first stop. It’s one of the best sites to find home decor items from all over the world, designed with love and integrity.

2. CTW Home Collection

CTW Home Collection sells farmhouse decor gifts and includes a large selection of new products to choose from. CTW Home Collection is also one of the best furniture wholesale suppliers as well, so you find a lot of different items to choose from. You’ll find fun products like lanterns, candle holders, tabletop items, and more in many different styles with cost-effective shipping options available.

3. Creative Co-Op

Perhaps a little less traditional than some of the other options on this list, Creative Co-Op is a one-stop shop if you’re looking for wholesale furniture suppliers and farmhouse wholesale suppliers. Their website has amazing products for resale, including stylish items and decorative accessories that have the potential to be a hit with customers.

4. Roux Brands

Roux Brands is known for its timeless and elegant wholesale selection. Their product selection includes gift items, wooden signs, home accessories, and much more. As a farmhouse wholesale supplier, Roux Brands offers a wide variety to choose from for retailers, such as fun decor items and party gifts.

5. KaemingK

If you’re seeking seasonal decor items for your shop or website, KaemingK might be the right choice for you. All their wholesale products are designed for the holiday season as decor items for the home. You’ll find Christmas decorations, Easter decorations, and general home decor on their website, with over 10,000 items to choose from.

6. ITEM International

For wholesale home decor such as wall decorations, throw pillows, tabletop decor, gifts, and a vast array of items you can sell, ITEM International has it all. They are both a farmhouse wholesale supplier and a wholesale furniture supplier, so there is plenty of variety to choose from for every kind of occasion to stock in your shop.

7. Benzara

Benzara is another wholesale product supplier with high-quality products for retailers. Benzara is also a wholesale furniture supplier alongside a farmhouse wholesale supplier, so there are a lot of new products to choose from. Shop many different styles all in one place, including unique decor items and a. variety of home decor items that will appeal to a wide demographic of shoppers.

8. Hill Interiors

Hill Interiors has a vast array of fab items perfect for home decor and suits every kind of style. You’ll find decor items for resale, including pillows, gifts, wooden signs, and many other items in their inventory. There are over 2,500 products that retailers can choose from, all designed with the latest trends in mind.

9. Light and Living

If you’re looking for both farmhouse decor and wholesale furniture suppliers, take a look at Light and Living. With a wide selection, quality products, and stylish home accessories, Light and Living has a lot of great options for resale. You can find items for your shop, including general home decor, statement pieces, and other accessories such as pillows, gift options, signs, and many more types of accessories.

10. Globe Imports

A Florida-based wholesale home decor supplier, Globe Imports, has a lot of great options on their site for a home decor store. Their inventory includes items ranging from furniture to garden accessories, gift items, and more. They also do themed collections such as coastal/beach, pirates, new age, and more, which can be a fun option to stock.

11. Kole Imports

If you’re looking for diverse product collections that are designed to be fun and interesting, Kole Imports is a very good choice. Their product catalog will get you excited for what you can stock in your store, ranging from smaller gift options to larger home decor accessories. There is a complete balance for retailers to select from, with a balance between functional home decor and more funny gift ideas.

12. Strade.Global

With Strade, sellers have a lot of options. You can choose to shop from their marketplace to find unique home decor items to sell, including rustic gifts, farmhouse decor, and more. If you are a manufacturer, you can join Strade.Global to have products found by other retailers. Additionally, Strade.Global also offers management services to online and brick-and-retailer shops to help boost profits and reduce some of the retailers’ workloads.

Supplier Name	Specialities	Notable Products/Services
Faire	Farmhouse decor from small businesses	Extensive product range
CTW Home Collection	Farmhouse decor and furniture	Wide product selection, cost-effective shipping
Creative Co-Op	Furniture and farmhouse decor	Stylish decorative accessories
Roux Brands	Elegant wholesale selection	Gift items, wooden signs, home accessories
KaemingK	Seasonal decor	Over 10,000 holiday decor items
ITEM International	Diverse decor and gifts	Farmhouse and furniture wholesale supplier
Benzara	Quality products for retailers	Diverse decor styles, wide product range
Hill Interiors	Diverse home decor	Over 2,500 products available
Light and Living	Farmhouse decor and furniture	Quality, stylish home accessories
Globe Imports	Themed collections	Furniture, garden accessories, gift items
Kole Imports	Diverse, fun product collections	Balance of small gift options and larger decor items
Strade.Global	Marketplace and management services	Options for sellers and manufacturers, management services for retailers

Wholesale Home Decor Market Trends

The home decor market is constantly evolving, with trends shifting from season to season. Staying abreast of these trends is crucial for businesses looking to captivate customers.

Current trends include sustainable and eco-friendly products, minimalist designs, and bold, statement pieces that reflect personal style. Keeping an eye on these trends helps in selecting products that resonate with contemporary consumer preferences.

Evaluating Quality and Sustainability

Quality and sustainability are key factors in the home decor industry. When choosing suppliers, consider the materials used, the craftsmanship, and the environmental impact of the products.

Suppliers committed to sustainable practices not only add value to your inventory but also appeal to eco-conscious consumers, a growing demographic in the home decor market.

Building Relationships with Suppliers

Fostering strong relationships with your suppliers can lead to better pricing, understanding of inventory cycles, and exclusive access to new products. Regular communication, timely payments, and clear contract terms are essential in building and maintaining these relationships.

A reliable partnership with your suppliers ensures a steady flow of quality products and can provide you with a competitive edge.

Importance of a Unique and Diverse Product Selection

A diverse product selection caters to a wider customer base and sets your business apart from competitors. Look for suppliers offering unique items that reflect various styles and tastes. A mix of traditional, modern, and eclectic decor pieces can attract different customer segments, enhancing the appeal of your inventory.

Tips for Effective Inventory Management

Effective inventory management is crucial when dealing with multiple suppliers. Utilize inventory management software to track stock levels, sales patterns, and reorder times. This helps in maintaining an optimal inventory level, reducing the risk of overstocking, and ensuring a fresh and varied product range for your customers.

Implement a Just-in-Time (JIT) Inventory System: Aim to order stock close to when it’s actually needed to reduce holding costs and avoid overstocking.
Regularly Review Stock Levels: Conduct frequent audits of your inventory to identify fast-moving items and adjust order quantities accordingly.
Utilize Inventory Management Software: Invest in software that provides real-time tracking and analysis of inventory levels, sales trends, and reorder points.
Categorize Inventory: Classify your inventory into categories based on sales velocity, value, and seasonality to prioritize and manage stock more efficiently.
Set Par Levels: Establish minimum stock levels for each product to simplify reordering decisions and prevent stockouts.
Optimize Warehouse Layout: Arrange your warehouse in a way that maximizes efficiency in storing and retrieving items, and reduces handling time.
Train Staff on Inventory Practices: Ensure your team understands the importance of inventory management and is trained in best practices.
Leverage Supplier Relationships: Collaborate with suppliers for bulk discounts, better payment terms, or consignment options to optimize inventory costs.
Track Sales and Forecast Demand: Analyze sales data and seasonal trends to accurately forecast demand and adjust inventory levels accordingly.
Implement a Returns Management System: Efficiently handle returned goods to ensure they are quickly restocked or disposed of, keeping your inventory accurate.
Use Barcode or RFID Systems: Implement barcode or RFID scanning to improve accuracy in tracking inventory movements and reduce manual errors.
Consider Dropshipping for Certain Products: For items that are rarely sold, consider a dropshipping arrangement to eliminate the need to hold these items in stock.

Leveraging Technology in Wholesale Purchasing

Technology can significantly streamline the wholesale purchasing process. From online ordering systems to real-time inventory management tools, technological solutions can save time and reduce errors. Embracing these tools can lead to more efficient operations, better customer service, and improved profitability.

Marketing Strategies for Home Decor Retailers

Effective marketing is key to the success of a home decor business. Utilize social media platforms, email marketing, and an engaging online presence to showcase your products. In-store displays, seasonal promotions, and collaborations with interior designers can also enhance visibility and attract customers.

Navigating Shipping and Handling Challenges

Shipping and handling large or fragile home decor items can be challenging. Work closely with your suppliers to understand their packaging methods and shipping policies. Consider offering shipping insurance and ensure that your logistics partners are equipped to handle delicate items safely.

Legal and Regulatory Considerations

Be aware of the legal and regulatory considerations in your region, such as safety standards, import regulations, and consumer protection laws. Compliance with these regulations is crucial to avoid legal complications and ensure customer safety.

Exploring Global vs. Local Suppliers

Consider the pros and cons of sourcing from global versus local suppliers. While global suppliers may offer a wider range of products at competitive prices, local suppliers can provide faster shipping, lower freight costs, and opportunities for supporting the local economy.

The Future Outlook of Wholesale Home Decor

In conclusion, finding the right wholesale home decor suppliers involves a blend of trend awareness, quality evaluation, and strategic relationship building. As the market continues to evolve, staying informed about future trends and consumer preferences will be key to the success and growth of your home decor business.

[embedded content]

Image: Depositphotos

Source: smallbiztrends.com

Apache is functioning normally

January 19, 2024 by Brett Tams

While it can be a challenge to keep up with both work and school, getting a part-time job while in college can help you cover your expenses and gain valuable work experience at the same time. In addition, some employers may even offer to pay a portion of your college tuition as a part of their benefits package.

There are all kinds of jobs for college students — from on-campus jobs with regular hours to side gigs you can do in your spare time. While students often find work in the retail and service industry, it’s also worth exploring other avenues for employment, including office work and even jobs related to your field of study. Read on for a basic guide to finding a job that can help you pay for college.

Table of Contents

Part-Time Jobs That Help Pay for College

Working part-time while you’re in college can help you pay for tuition and other expenses. These jobs typically offer flexible hours, allowing you to work around your class schedule.

You might start your search for jobs that help pay for college with businesses you already know and love. For example, you could see if your favorite cafe is hiring or ask about opportunities at the yoga studio you love. Even if they don’t have a paying position, some small businesses offer “service swaps” where you might be able to score free coffee, meals, or exercise classes for some light work. It pays to ask!

Here’s a look at other job opportunities that can help students earn money for college.
💡 Quick Tip: Make no payments on SoFi private student loans for six months after graduation.

On-Campus Jobs

Colleges and universities hire students for a variety of jobs on campus. Part-time on-campus jobs are not only convenient but typically provide flexibility so you can work around your class schedule. Plus, a lot of on-campus jobs can help you build relevant skills that will serve you after graduation.

The career center at your school will likely have lots of resources that can help you find employment on campus, including an online job board. Your school can also help you find a job campus through the federal work-study program. To see out if you’re eligible for work-study, which is a needs-based program, you need to fill out the Free Application for Federal Student Aid, or FAFSA.

Below is just a sampling of on-campus job options you might consider, plus what they pay, on average, per hour:

• Administrative Assistant: $16.80 per hour

• Teaching Assistant: $17.56 per hour

• Research Assistant: $20.62 per hour

• Fitness or Recreation Center Attendant: $14.10 per hour

• Lifeguard: $16 per hour

• Peer Tutor: $12.73 per hour

• Library Assistant: $14.49 per hour

• Campus tour guide: $14.81 per hour

Paid Internships

Your school’s career center may also be able to provide information about internship opportunities in your field of study. Some college internships provide college credits, which can help you pay for college by reducing your tuition bill. In other cases, internships are paid. On average, college interns in the U.S. earn $24.63 per hour.

Don’t want to work during the school year? Summer can be a great time to focus on a career-boosting internship without distracting you from your coursework. According to a 2023 Glassdoor report , some summer internships are paying as much as $9,064 a month.

Securing a paid internship tends to be competitive, so it can be wise to apply early and make sure your application materials are compelling and complete. Internships can provide valuable learning opportunities and some of the top-rated internships even offer the opportunity for future full-time employment.

Serving, Bartending, or other Service jobs

Many college students work part time in the service industry because the hours are flexible and you can often earn tips in addition to an hourly pay. This can be especially helpful during peak hours and holidays because your income could be higher than usual. Here’s a look at some service jobs and their average hourly pay and tips:

• Barista: $14.86 per hour (plus $20 in tips per day)

• Restaurant server: $16.06 per hour (plus $100 in tips per day)

• Restaurant host: $14.79 per hour (plus $35.00 in tips per day)

• Bartender: $15.97 per hour (plus $150 in tips per day)

Recommended: Guide to Paying for College

Retail jobs

If you’re looking for a part-time job that will help pay for college, you might consider working in a local boutique or other type of retail store. These jobs also provide you with valuable human and workplace skills that can be used later in your professional career.

A retail sales associate is typically required to set up store merchandise and assist customers with their shopping needs. You also might even be able to get employee discounts or earn a commission. The average retail sales associate salary in the U.S. is $14.90 an hour.

Tutoring

You’ve been hitting the books and now it’s time to put all of that newfound knowledge to good use. You may be paying for your education, but there are also people out there willing to pay you to share what you’ve learned, which can help make college more affordable. Consider tutoring other college students or younger students in your area of expertise. Rates will vary based on location, subject matter, and your experience level. On average, private tutors earn $25.12 an hour.

Virtual Assistant

Sometimes small businesses and entrepreneurs need someone who can answer their emails, perform odd jobs online, and otherwise provide administrative support virtually. You might look for these gigs online or through your school’s career development office. Before you take on a role, it’s important to know what’s expected: Are they looking for someone to be available during specific hours or could you get everything done on your own time?

On average, a virtual assistant makes $19.19 an hour.

Recommended: 3 Summer Jobs Ideas for College Students

Babysitting or Caregiving

Babysitting can be another job option to help pay for college if you’re looking for flexibility. You can schedule jobs for weekends or nights if you’re worried about work conflicting with your school schedule. As a bonus, you may be able to squeeze in some studying while the little ones are asleep. On average, part-time college nanny jobs pay $25 an hour.

Keep in mind that caregiving isn’t just limited to little kids. You may find meaningful roles working with elderly or ill people who need help, either with day-to-day tasks or with errand running, housekeeping, or even just keeping someone company while they shop. On average, a part-time caregiver earns $15 an hour.

Dog Walking

Having flexibility during the day can mean everything for people who work 9 to 5 and need someone to care for Fido. Consider working for a walking service rather than striking it out on your own: It may provide guaranteed hours or jobs, so you can get to know the pooches you work with. The average salary for a dog walker in the U.S. earns $17 per hour.

Ridesharing or Delivery Driving

Driving for a ride-sharing or delivery service can be a good option during college, since you can generally set your own hours and fit the job into your schedule. How much you could make will depend on your location and the times you’re available to drive. Many Uber drivers make between $15 and $25 per hour, while the average hourly wage for food delivery drivers nationwide is $19/hour.

It can also be helpful to talk to locals to get the lay of the land — national earnings surveys may be very different from your local area, and it can be helpful to anticipate just how much demand there might be before you sign on.

Recommended: 11 Ways to Make Money While You Drive

Freelance or Start a Side Hustle

If you have a sought-after skill or talent, such as writing, website design, photography, or coding, you might consider starting your own freelance business or side hustle. You can advertise your skills on a freelance platform like Fiverr or Upwork. Or, you could solicit clients in your community. For example, you might be able to build a website for a local small business or get hired to manage an off-campus store’s online brand and marketing.

Consider Companies That Help Pay Your Tuition

Part-time jobs can be one option to help you pay for college, but what if you can find a job that not only pays you a salary but also pays for tuition? There are some major companies that offer stipends or reimbursements toward college tuition or expenses like books, even for part-time employees.

Employers generally offer tuition assistance in one of three ways:

• Tuition reimbursement Here, the company reimburses you for tuition you’ve paid. There may be a tuition cap and/or a requirement to work a certain number of hours or months before the benefit kicks in.

• Direct payment Some employers will pay eligible college costs directly to the school. In some cases, they only partner with certain schools.

• Scholarships Some employers offer education scholarships to employees for a set amount of money. As with other types of scholarships, you typically need to submit an application for the award and may also be required to maintain a certain GPA.

Here are some national companies that have well-publicized tuition assistance policies:

Chipotle

At Chipotle , tuition reimbursement (up to $5,250 each year) is available for both part-time and full-time employees. They also offer a Debt-Free Degree program, which covers the full cost of a four-year degree at one of 10 universities. Typically, employees must work at least 15 hours a week for four months to qualify for tuition benefits.

Smuckers

Smucker’s helps employees further their knowledge and skills by reimbursing them for some of the costs of qualifying continued and/or higher education. The company also offers a scholarship program for children of employees.

Publix

At Publix , associates with 90 days of continuous service who work an average of 10 hours a week are eligible to participate in the company’s tuition reimbursement program. The program covers graduate and undergraduate degree coursework, as well as some individual courses, online programs, and technical training.

Starbucks

Starbucks is often featured on these lists for a reason: They partnered with Arizona State University (ASU) to create the Starbucks College Achievement Plan which offers 100% tuition coverage for a first-time bachelor’s degree through Arizona State University’s online program. All employees eligible for benefits (this includes part-time employees) may take advantage of this program.

If an employee doesn’t qualify for admission to ASU, they can take part in the Pathway to Admission program, which will help them qualify for admission, tuition-free.

UPS

UPS offers a tuition assistance program at most locations in the U.S. Through their “Earn and Learn” program, you can receive up to $5,250 per calendar year, with a lifetime maximum of $25,000. There are no course or subject restrictions.

Walmart

Walmart will pay 100% of tuition and books for an associate or bachelor’s degree program through several online accredited universities. This benefit is available to hourly part-time and full-time associates without a prior bachelor’s degree starting on day one.

Amazon

Amazon offers tuition assistance for employees seeking a Bachelor’s degree, a high school GED, or English-as-a-Second-Language (ESL) proficiency certification. You’re eligible for the program after 90 days of employment for as many years as you work in a regular, full-time role at Amazon.

Recommended: Finding Jobs That Pay Off Student Loans

Think About Your First Job Out Of School

Another benefit of finding a job that helps pay for college: You can figure out what you do (and don’t) want to do for a living. It can also be helpful to assess certain job paths, including how much they may pay entry-level employees. While there are always lists of most and least lucrative majors, the reality is that your major doesn’t necessarily determine your career. Talk to alums and people a few years out of school and have them give you the lowdown on their job path.

When looking for your first full-time job out of college, it’s also important to consider not just your salary, but what benefits may come into play. For example, many companies now offer employees assistance in paying off student loans. How it works varies by company, but the typical plan offers matching funds or a predetermined recurring monthly payment towards your loan. Usually, there’s a maximum dollar amount you can receive and some employers require a minimum amount of time on the job.
💡 Quick Tip: Would-be borrowers will want to understand the different types of student loans that are available: private student loans, federal Direct Subsidized and Unsubsidized loans, Direct PLUS loans, and more.

The Takeaway

The combination of scholarships, student loans, and a part-time job can help you cover the cost of going to college for four (or more) years. A part-time job will not only help you earn some money, but it could also help boost your resume. In addition, some companies offer tuition reimbursement or assistance programs for part- or full-time employees pursuing higher education. These programs may have specific requirements, such as attending a certain school or working a set number of hours per week, so be sure you understand the requirements.

If you’ve exhausted all federal student aid options, no-fee private student loans from SoFi can help you pay for school. The online application process is easy, and you can see rates and terms in just minutes. Repayment plans are flexible, so you can find an option that works for your financial plan and budget.

Cover up to 100% of school-certified costs including tuition, books, supplies, room and board, and transportation with a private student loan from SoFi.

FAQ

How do you ask a company if they offer tuition reimbursement?

To find out if a company offers education benefits like tuition assistance, you can talk to your manager or HR representative (if you already work there). If you’re in the interviewing process, you can ask the recruiter or hiring manager. Or, you can check the company’s website (often they will describe their benefits, including who is eligible and any other stipulations).

What are the disadvantages of tuition reimbursement?

One disadvantage of tuition reimbursement is that you typically need to pay for your classes upfront, then submit the bill to your company for reimbursement. Some tuition reimbursement programs also have strict requirements and limitations, such as a cap on the amount of money that can be reimbursed, or only covering certain types of courses or degrees.

Also keep in mind that balancing work and courses can also be challenging for some employees to manage successfully.

Why would a company offer generous tuition reimbursement?

Many companies offer generous tuition assistance programs in order to attract, develop, and retain high-performing employees.

SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.

SoFi Private Student Loans
Please borrow responsibly. SoFi Private Student Loans are not a substitute for federal loans, grants, and work-study programs. You should exhaust all your federal student aid options before you consider any private loans, including ours. Read our FAQs.
SoFi Private Student Loans are subject to program terms and restrictions, and applicants must meet SoFi’s eligibility and underwriting requirements. See SoFi.com/eligibility-criteria for more information. To view payment examples, click here. SoFi reserves the right to modify eligibility criteria at any time. This information is subject to change.

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

External Websites: The information and analysis provided through hyperlinks to third-party websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are provided for informational purposes and should not be viewed as an endorsement.

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.

SOIS1023027

Source: sofi.com

Apache is functioning normally

January 19, 2024 by Brett Tams

Made in Tampa Bay: Wise Old Owl Designs

FOX 13 News

Ryan and Jessica Sartor’s living room has been transformed into a workshop, as they went all-in into the small business world.

“It shortens to WOOD, so that’s perfect,” Jessica Sartor said.

The couple started their business five years ago, creating a variety of products, from small ornaments and sun catchers to charcuterie boards and wall art flags.

“It rabbit holed from there,” Jessica Sartor said. “Next thing we know, we’re getting a laser.”

The laser takes up the most space in the couple’s makeshift workshop. Ryan Sartor describes the laser as a robot that traces a design onto the material placed inside of it.

While the laser does some of the work, both Ryan and Jessica have work to do both before and after, whether that’s creating designs, painting, or putting together various layers.

They estimate that they can make around 150 different products. The couple does all of this on top of full-time jobs.

Apache is functioning normally

January 15, 2024 by Brett Tams

Want to learn how to make $200 fast? Having some extra income can be useful for unexpected needs or saving up money. Maybe you need money for rent, something broken on your car, or a medical bill. Maybe you have something that you’re saving for, and you just want to make some extra cash. If…

Want to learn how to make $200 fast?

Having some extra income can be useful for unexpected needs or saving up money. Maybe you need money for rent, something broken on your car, or a medical bill. Maybe you have something that you’re saving for, and you just want to make some extra cash.

If you want to make $200 fast, there are many ways to do it: You could sell things you don’t need, create and sell handmade items, use your car or home to make money, and more.

There are lots of ways to make $200 fast!

My top picks to make $200 fast

Selling items from around your home, such as clothing, an old cell phone, furniture, and more. You can learn how to flip your stuff in this free webinar.
Make $65+ per hour in a focus group sharing your opinions with User Interviews.
Rent out your RV with RVShare.
Freelance proofread and learn how to become a proofreader in this free webinar.
Start a blog (this is what I do!) and learn how in my free How To Start a Blog course.

Best Ways To Make $200 Fast

Below are the best ways to make $200 quickly.

Selling items from around your home

The quickest way to make $200 fast is to find stuff you already own and sell it.

When you’re in a pinch for cash, your home can be a treasure trove of items you can sell. Start by gathering gently used items or those you no longer need, such as electronics (phones, laptops), furniture (couches, coffee tables), clothing and accessories (especially branded ones), gift cards, and collectibles and antiques.

You can sell on Craigslist (ideal for bulkier items like furniture, tires, cars, etc., where local pickup is more practical), Facebook Marketplace (great for reaching a large local audience quickly), eBay (perfect for unique or more valuable items where shipping isn’t an issue), thrift stores (get cash on the spot at places like Plato’s Closet), having yard or garage sales (typically get less per item but can get rid of a lot of things at once), and more.

I have sold a ton of used items over the years such as clothing, jewelry, car tires, furniture, and more. It is easy and someone probably wants what you’re selling.

Recommended reading: 16 Best Selling Apps For Selling Stuff Online And Locally

This free workshop will teach you how to get into the flipping business. It will teach you how to resell furniture, electronics, appliances, and anything else you can find.

Rent out your storage space

If you’ve got extra space in your home, be it an attic, basement, or spare room, renting it out for storage is an excellent way to earn extra cash.

A site to use to rent out your space is Neighbor. This website helps you earn money by renting out space you’re not using.

You can make up to $15,000 a year by renting out your garage, driveway, basement, or even a closet with Neighbor. You get to choose the prices and decide which reservations you want to say yes to and host.

Take paid online surveys

Earning $200 a day just by answering surveys isn’t normally possible (unless you are doing focus groups or paid research studies), but you can reach your goal by combining survey earnings with other ideas.

When I was repaying my student loans, I answered lots of surveys each week. I did this before work, during lunch, or after work. It was convenient because I could do it whenever I had free time.

Survey companies pay you for answering surveys, watching videos, and testing products. Sometimes, you might even receive free products to evaluate. The best part is that joining survey companies is free!

Some of the paid online survey companies I recommend are:

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

Answer questions in a focus group

A focus group is like a paid online survey, as I mentioned before, but you can make a lot more money from it.

I’ve done a focus group in the past that paid me around $400 for 75 minutes of my time. While that’s a bit more than usual, most focus groups pay anywhere from around $50 to over $100 per hour. Compensation differs significantly depending on the study’s length and topic, but higher-paying studies do exist.

Lots of consumer research companies pay people like us to share our opinions. The companies use our feedback to make their products and services better.

One focus group company that I recommend is User Interviews. User Interviews recruits participants to answer surveys and share their feedback.

User Interviews pays very well for market research studies and these are some of the highest paying online surveys, with each paying $50 to $100 or more. The average pays over $60.

Play games on your phone

If you’re looking to make $200 quickly, your smartphone can be a surprisingly interesting way. By playing games on your phone, you can earn real money.

Game apps pay real money rewards because they make money from ads and in-app purchases. They share a part of their earnings with you to motivate you to keep playing their games.

The best game apps that pay real money include KashKick, Swagbucks, and InboxDollars.

When picking gaming apps to make money, check reviews and learn about how you get paid. Be careful with apps that ask you to pay to play or promise rewards that sound too good to be true. Also, keep track of the time you spend playing games to make sure it stays worth it.

Rent out your unused RV

If you have an RV that’s sitting idle, you may want to turn it into income by renting it out. Many people have RVs they don’t use very often. Instead of letting it just sit there, you might make extra money by renting it out. Yes, you could potentially make $200 a day by renting your RV to others.

Popular sites such as RVshare work similarly to Airbnb, connecting you with potential renters. They handle the bookings and insurance, making the process easier.

Another idea is to park your RV somewhere and list it on Airbnb. I’ve seen many RVs, campers, trailers, and more on Airbnb available for rent. Just make sure that you can rent it out in the location you want to leave it, as not all campgrounds or neighborhoods may allow it.

RVshare is one of the best money-making sites because it helps travelers save money by cutting out the middleman and offering RV rentals directly from RV owners. If you have an RV that is sitting around, then you may be able to make $100 to $300+ a day.

Proofread

If you like finding mistakes in written content and want to know how to make $200 a day, proofreading could be a good fit for you. It can be a part-time job or a full-time work-from-home career too.

It’s a job where you can make $200 in a day, and many proofreaders earn around $40,000 a year or even more.

Proofreaders check for mistakes in articles, ads, books, student papers, emails, transcripts, and more.

To become a proofreader, all you need is a laptop or tablet, an internet connection, and the ability to spot mistakes and errors.

I recommend signing up for the free 76-minute workshop, where you can learn more about becoming a proofreader. You can sign up for the free How To Become a Proofreader workshop here.

Recommended reading: How To Become A Proofreader And Work From Anywhere

This free 76-minute workshop answers all of the most common questions about how to become a proofreader, and even talks about the 5 signs that proofreading could be a perfect fit for you.

Virtual assist

A virtual assistant (VA) is someone who helps a person, company, or business owner with administrative and business tasks, making sure everything runs smoothly. They’re just like in-person assistants, but they work from home and online.

I used to work as a virtual assistant for small business owners. I didn’t have prior experience, but I learned the skills while on the job. It not only helped me earn a good income but also allowed me to work from home. I also have virtual assistants who work for me, so I know how helpful they are! This is a very in-demand job field to get into.

Virtual assistant tasks may include:

Managing a company’s Facebook account
Managing a calendar
Scheduling appointments and meetings
Creating slideshows and presentations
Managing an email inbox and handling customer support

And more.

Typically, when you begin working as a virtual assistant, you might earn around $15 to $20 per hour. However, in some cases, you could start with twice or even three times that amount. It depends on the type of work you do and the services you provide.

This can be a full-time job or a side hustle too!

You can learn more at How I Earn $10,000 Per Month From Home as a Virtual Assistant.

Selling handmade goods and crafts

If you want to earn an extra $200 fast, selling the things you make by hand, like crafts or handmade goods, is a great idea.

A popular place to sell handmade goods includes Etsy, which has a worldwide audience looking to purchase unique handcrafted items. You can also sell via social media or even rent a booth at a local craft fair.

You can sell all different kinds of handmade items such as jewelry, soap, furniture, art, photography, clothing, personalized gifts (such as engraved items), and more.

I have personally bought handmade goods all of these ways.

Freelance write

A person who freelance writes can make $200 in a single day.

Freelance writers work for clients, like websites, magazines, marketing teams, book publishers, and others. They write different things such as articles, blog posts for search engine optimization (SEO), marketing content, newsletters, press releases, and more.

You can find freelance writing jobs in many ways such as by searching on Fiverr or Upwork, looking to see if any of your favorite sites are hiring writers, networking with people in the industry you want to write in, and more.

I’ve been a freelance writer for a long time, and many of my friends also have this job. It’s a great way to make $200 a day or more all from home.

You can learn more about how to find freelance writing jobs below:

Transcribe

If you’re looking to make $200 quickly, transcription could be a great option. With a fast typing speed and strong language skills, you can convert audio files to text for pay.

Transcription is when you change spoken words from audio or video into a written document. Many businesses need transcriptionists because they need to convert audio and video into text.

New transcriptionists usually make about $15 per hour when they begin, and the good thing is, you don’t need any previous experience to get started.

Recommended reading: 18 Best Online Transcription Jobs For Beginners To Make $2,000 Monthly

In this free training, you will learn what transcription is, why it’s a highly in-demand skill, who hires transcriptionists, how to become a transcriptionist, and more.

Blog

Starting a blog doesn’t instantly make you $200 on the first day because it takes time to set it up. However, with time and effort, bloggers can make $200 a day in the future.

A blog is a website with articles, like what you’re reading now. You can create a blog on topics such as personal finance, recipes, travel, pet care, family life, and more. There are many different types of blogs out there.

You can make money from a blog by partnering with companies for sponsorships, showing ads, doing affiliate marketing (for example, selling a product listed on Amazon), and selling products like ebooks, candles, T-shirts, and more directly on your blog.

This is what I do to make money, and I earn well over $200 a day online. It did take me around 6 months to make my first $100 with my blog, so it does take time to get started. It took me about a year to reach around $5,000 a month and around 2 years to get to $10,000 a month.

You can learn how to start a blog with my free How To Start a Blog Course (sign up by clicking here).

Another idea similar to this is to start a YouTube channel, TikTok, Instagram, and more!

Want to see how I built a $5,000,000 blog?

In this free course, I show you how to create a blog, from the technical side to earning your first income and attracting readers.

Dog walker

Becoming a dog walker is a fun way to make some quick cash if you love pets, especially dogs. You can easily get started by signing up with well-known dog walking apps dedicated to connecting dog walkers with pet owners.

Here are some steps to help you begin:

Register on Dog Walking Apps – Platforms like Rover are great for finding dog walking jobs. You could earn around $15 to $18 per hour depending on your experience and the local demand for dog walkers.
Create a Profile – Highlight your experience with dogs and any references you might have.
Set Your Availability – Decide on the days and hours you’re available to walk dogs and set your schedule.

My sister as well as my husband’s mother are both dog walkers on Rover, and they both enjoy this side hustle.

Sell printables on Etsy

Selling printables on Etsy can be a quick way to earn some extra cash.

Printables are digital files that customers can download and print themselves. These can include things like planners, art prints, stickers, learning tools, worksheets, invites, and organizational tools.

You most definitely have used printables in your life, and so have most people. I buy printables all the time because they make my life so much easier – and it’s so nice to just print things out and have them more easily accessible for when I need them.

One great thing about selling printables is that you don’t have to print and send anything yourself. The customer pays for the design, and they print it out on their own.

Here’s how you can get started:

Step 1: Find Your Niche

Determine what kind of printables you’re passionate about. Many people specialize in a certain type of printable, such as home, wedding, organizing, education, etc.
Research what’s popular and in demand. See what kind of printables people are actually buying right now.

Step 2: Create Your Printables

Use design tools like Canva or Adobe Illustrator.
Make sure your design is original and appealing.

Step 3: Set Up Your Etsy Shop

Create a memorable and easy shop name.
Set up shop policies and fill in all the details.

Step 4: List Your Products

Take attractive product photos or create digital mockups.
Write clear and compelling product descriptions so that potential customers can find your printables.
Price your printables competitively.

Step 5: Promote Your Shop

Utilize Etsy’s built-in SEO by using relevant keywords in your listings.
Share your printables on social media platforms.
Consider Etsy Ads for additional promotion.

You can learn more at How I Make Money Selling Printables On Etsy.

Do you want to make money selling printables online? This free training will give you great ideas on what you can sell, how to get started, the costs, and how to make sales.

Deliver groceries and food

Grocery delivery is a service that is becoming more and more popular. I’ve used it several times myself when I didn’t have time to shop or didn’t have a car available. This service is likely to keep growing.

If you’re looking to make quick cash, you can try delivering groceries and food. You have the flexibility to create your own schedule, and payment can be received pretty quickly – sometimes even within an hour.

Delivering groceries is a popular extra job, and all you need is a valid driver’s license and a car.

You get paid for each delivery and keep all your tips. Platforms like Instacart and Shipt can help you earn around $15 to $20 per hour.

Here are a couple of options for you to start earning with food delivery:

Instacart: As an Instacart shopper, you can choose to shop for groceries or both shop and deliver to customers. Being able to cash out your earnings instantly is a big plus.
Shipt: Enjoy shopping at stores like Target and CVS? With Shipt, you can earn by shopping for others. It’s a great way to combine earning with a task you already enjoy.

Related to this: You can also deliver restaurant meals in your spare time through companies like DoorDash and Uber Eats.

Drive for Uber or Lyft

Earning $200 quickly may seem hard, but you may be able to reach this goal by driving for ride-sharing services like Uber or Lyft.

Here’s what you need to know:

Sign Up – Both Uber and Lyft require you to have a valid driver’s license, meet age requirements, pass a background check, and have an eligible car.
Flexibility – You have the freedom to choose your working hours. Whether it’s an hour, over the weekend, or throughout the week.
Earnings – Income can vary, but it’s possible to earn between $20 to $25 per hour on average. At this rate, driving for 10 hours can help you reach your $200 target.
Maximize Promotions – Keep an eye out for special promotions or peak time surge pricing (such as by driving during weekend nights or during a baseball game) as these can really boost your earnings.

Expenses like gas and vehicle maintenance will come out of your earnings, so it’s important to work efficiently and choose high-demand times and areas to increase your income.

Tutor

Tutors who know subjects well, like math, language, science, graphic design, and more, help students get better at those subjects.

Becoming an online tutor depends on the subject you want to teach. You need experience in that area, but there are options for beginners too. Tutors for advanced subjects, like calculus or college entrance exams, usually earn more than those teaching simpler topics.

Rates vary from $15 to over $100 per hour, depending on the subject and where you offer your tutoring services.

Read more at 11 Best Places To Find Online Tutoring Jobs (Make $100+ an hour).

Sign up for quick Craigslist jobs

You can make $200 quickly using your local Craigslist, which has short-term jobs and side hustles listed under “gigs.”

Some gigs I’ve seen include painting a room, running errands, passing out flyers, handyman work, loading a moving truck, shoveling snow, pet sitting, transporting a boat, and more.

You can also find quick gig side hustles through a company called Taskrabbit as well!

Note: When using Craigslist for odd jobs, be cautious of scams. If something appears too good to be true, it probably is. For instance, no one is likely to pay you $2,000 for a mystery shop or a 30-minute survey. It’s important to stay alert and choose opportunities that are realistic and trustworthy. Simply skip it if you have doubts!

Get a roommate

If you’re looking to make $200 quickly, getting a roommate can be one way to do so, and if you have an extra room at home, you can make extra money by renting it out on platforms like Airbnb or finding a long-term roommate.

Renting out a room long-term could earn you around $200 or much more, depending on the room and its location. It’s a good way to utilize your extra space for additional income.

I have personally had several roommates in the past, and it was a good source of income. Plus, we had the extra space anyway that was unused. We charged around $400 a month per room, but nowadays you can definitely get a lot more (especially depending on where you live).

Here’s a quick step-by-step guide to finding a roommate and getting paid:

Advertise Your Space – You will need to find ways to get the word out about the spare room you want to rent out. You can do this on Craigslist, your personal Facebook page, placing a post in a local Facebook group, and more.
Vet Potential Roommates – You don’t want just anyone living with you as they will be sharing your space! Here are some ways to vet potential roommates:
- Interviews: Have a conversation to make sure everyone is compatible.
- References: Ask for and check personal and rental references.
Discuss Financials – This is all about money, so money definitely needs to be talked about and agreed on. You’ll want to think about things like:
- Rent: Determine the monthly charge for rent.
- Utilities: Decide how you’ll split costs like electricity, internet, and water. Will the monthly rent include all of the bills or will you split the utilities?
Set House Rules – Rules like quiet hours, guest policies, and cleaning responsibilities help avoid conflicts.
Create a Formal Agreement – Writing an agreement will lay everything out so that there is no confusion later.
- Lease Addendum: If you have a lease, add your roommate officially.
- Roommate Agreement: Outline terms of rent, bills, and house rules.

To learn more about renting out your spare room, I recommend reading A Complete Guide To Renting A Room For Extra Money.

If you want to take it a step further, you could even get into real estate investing. You can learn more about this option at How This 34 Year Old Owns 7 Rental Homes.

Rent out baby items, such as a crib

If you’re looking to make $200 fast, you can rent out your gently used baby items to traveling families. By listing a crib, stroller, or car seat on rental platforms, you can help ease the travel burdens for parents while earning extra cash.

Here are some ideas of what you can rent out:

Cribs
Strollers
Car seats
High chairs
Toys

A website called BabyQuip lets you rent out baby equipment. On average, people using BabyQuip can make about $1,000 a month, and some earn over $10,000 monthly.

Redeem credit card rewards

If you have a credit card, then there’s a good chance that you are earning points by simply spending like you normally do.

Or, you could even sign up for a new card that has a good signup bonus to earn more points.

With rewards credit cards, you can turn your points into cash back. Here’s how it works: whenever you use your credit card to buy something, you earn points as a reward for spending money.

I have rewards credit cards and I earn points every single time I shop or pay a bill, and I don’t have to do anything special. Just pay my bills and expenses like I normally do! In fact, I just signed up for a new rewards credit card with a great signup bonus today with a signup bonus value of over $800.

Two credit cards that I personally like include:

Important note: Making the most of credit card rewards is smart only if you use your credit card responsibly. It’s not a good idea to accumulate debt just to get rewards because debt with interest is neither free nor beneficial. To really earn money from credit card rewards, you will want to make sure to pay your credit card balance in full every month.

Frequently Asked Questions

Below are answers to common questions about how to make $200 quick.

How can I make a quick $200?

If you want to learn how to make $200 fast in a day, then I highly recommend finding items from around your home to sell, like clothing, jewelry, and video games. This is the easiest way to get started as you probably already own things you can sell.

How can I make an extra $200 a week?

If you want to make an extra $200 a week, I recommend freelance work, which might include writing, graphic design, or proofreading. Also, renting out things you already have, like a spare room, can be a great way to make passive income.

What items can be sold to quickly earn $200?

Look around your home for electronics, clothing, or collectibles that are in good condition but you no longer need or want. You may be able to find lots of things to sell (and have a yard sale) and/or find one or two big things to sell.

How to make $200 fast online from home?

I’ve done a lot of things on the list above to make $200 fast online from home, such as freelance writing, blogging, selling items online, taking part in a focus group, and more.

How To Make $200 Fast – Summary

I hope you enjoyed this article on how to make $200 fast in a day.

As you learned above, you can earn $200 fast by doing a lot of different things, such as by freelancing, starting a business, renting out something you already own, playing games, and more.

The key is to choose what fits your life, how much time you have, and your money needs right now.

What do you think is the best way to make $200 fast?

Apache is functioning normally

January 14, 2024 by Brett Tams

Equity financing trades a percentage of a business’s equity, or ownership, in exchange for funding. Equity financing can come from an individual investor, a firm or even groups of investors.

Unlike traditional debt financing, you don’t repay funding you receive from investors; rather, their investment is repaid by their ownership stake in the growing value of your company. Equity financing is a common type of financing for startup businesses — especially for pre-revenue startups that don’t qualify for traditional loans — and businesses that want to avoid taking out small-business loans.

What is equity in business?

Business equity refers to the amount of ownership in a company or business, usually calculated as a percentage or by number of shares. For smaller private companies, equity is usually reserved for owners, investors and sometimes employees, while larger, publicly traded companies may also sell equity on the stock market.

Business equity is calculated by subtracting a business’s total liabilities from its total assets. For that reason, equity reflects a business’s value and indicates to shareholders the business’s overall financial stability.

How does equity financing work?

The process of getting equity financing will vary depending on the type of equity financing you’re looking for, your business and your investors. Generally, you can expect to follow these steps.

Gather documents

Before you start looking for investors, you’ll need documents like a business plan and financial reports, plus an idea of how much capital you need and what you will use it for. These are all things you’ll need to outline to a potential investor in your business pitch.

Find investors

If you don’t know investors or have potential investors in mind already, consider leveraging your personal or professional network to understand your options. You can also use online platforms to search for investors, or even check LinkedIn or attend local networking events.

Negotiate how much equity to give to your investors

Once you’ve found your investors, they may conduct their own business valuation, whereby they determine the potential value of your business to decide how much equity they want for their investment. Factors like business stage, amount of risk based on market trends and expected return based on financial projections will influence this negotiation. Angel investors may request 20-25% for example, while venture capitalists may want up to 40%.

Use funds

Once you’ve negotiated a price, the cash you receive from investors may be used for product development, new hires, debt refinance or working capital.

Share profits

Once your business starts making money, your investors will be entitled to a portion of your profits depending on how much equity they have in your business. This percentage will be paid to your investors in dividends within a predetermined time frame. If your business fails to make money, original investments do not have to be repaid.

Pros and cons of equity financing

Pros

No repayment terms. Strictly speaking, you don’t “repay” an investor in your company the way you would a lender. Instead, the initial investment is repaid by the prospect of the future value and profits of your business. While loans can be a great way to fund your business, not having monthly or weekly payments can be very beneficial to startups or businesses that are focused on growth.
Access to advisors. Most investors have invested before, and have likely even run their own businesses, which can make them a good resource as you navigate the ups and downs of running your business. Plus, because they have money invested in your business, your investors will have a special interest in helping your business succeed.
Larger funding amounts. You may qualify for larger amounts of financing with equity investors than with debt financing, especially if you’re a startup business. In addition, if you end up needing more money along the way, an investor may provide additional injections.
Alternative qualification requirements. Rather than business revenue or personal credit, investors will typically look at things like your business idea’s potential and your character.

Cons

Loss of ownership. Any time you receive an equity investment, your percentage of ownership in the business will decrease, which can affect your share of any future profits and value.
Loss of control. When you hand over ownership, you may also be handing over some control of your business, which can become problematic if you and your investors don’t see eye to eye.
Usually for high-growth, high-potential businesses. Equity financing is usually tailored for fast-growing businesses with high growth potential, which means many small businesses won’t be the right fit for this type of financing.

Common types of equity financing

Angel investing

Angel investors are high-net-worth individuals, most often accredited, who invest their own money in startups or early-stage operating businesses. It is possible to find angel investors through platforms like the Angel Capital Association or AngelList, but they can also be personal acquaintances or members of your professional network. Angel investors are a good option for business pitches or pre-revenue startups because they are often experienced individuals who can provide guidance in addition to funding.

Venture capital

Venture capital (VC) is a type of equity financing that’s similar to angel investing, but instead of wealthy individuals, VCs are usually investing on behalf of a venture capital firm. In general, VC can be a little more difficult to qualify for, and firms usually get involved after angel investors have already made initial investments. VC may be best fit for early-stage, high-growth businesses that have started operating already.

Equity crowdfunding

Equity crowdfunding is a form of equity financing that draws on groups of online investors, some accredited and some not, to fund businesses. Crowdfunding platforms allow potential investors to learn about businesses or business pitches through online profiles created by the business owners. Some may find less pressure in raising capital on crowdfunding platforms, which may make equity crowdfunding a good option for less experienced entrepreneurs or smaller businesses. However, online investing poses additional risk of fraud, so you want to be diligent about the platform you use. In addition, issuing more shares, however small, may dilute your ownership and increase costs more than using an angel investor or VC.

Alternatives to equity financing

Small-business loans. Small-business loans are a common type of debt financing, and a fair alternative to equity financing. Loans can be either term loans or lines of credit, and may come from banks, online lenders, credit unions or nonprofit lenders like community development financial institutions (CDFIs).
Small-business grants. If you want to avoid taking on debt and keep control of your business, and you don’t need a ton of funding, consider looking for small-business grants instead. Grants can be tricky to find and usually don’t fund in large amounts, but they can be worth it for funding that you don’t need to pay back.
Self-investing. Tapping into your own savings can be a way to maintain full ownership of your business and avoid paying any interest. However, you risk losing your savings if your business fails, so it’s best to seek the advice of a financial professional to determine whether this option is right for you.
Friends and family. If you have friends or family members you trust and who support you and your business, they may be willing to provide funding. Though this may feel less formal than receiving funding from a bank or other financial institution, you should still create a contract that details the terms of the loan.

Source: nerdwallet.com

Apache is functioning normally

January 12, 2024 by Brett Tams

Regulatory, Compliance, RIA, Accounting, AI Products; CFPB Penalty News; Credit/FICO and Investor Updates

This website requires Javascrip to run properly.

Regulatory, Compliance, RIA, Accounting, AI Products; CFPB Penalty News; Credit/FICO and Investor Updates

By:
Rob Chrisman

Wed, Jan 10 2024, 10:51 AM

I’m so tired of the mainstream press talking about the 2024 election, 10 months out. Given that the median age of U.S. citizens is about 38 years, one would think we could find someone under the age of 75 to be president, regardless of party affiliation. On the other end of the age spectrum, at age 34, Gabriel Attal became France’s youngest prime minister. France’s inflation rate is running at 3.7 percent, which I mention because inflation and the actions of central banks are linked, and the inflation rate and the CFPB are linked. (Whenever I mention the CFPB to my cat Myrtle she feigns indifference. Sometimes she even saunters away.) The CFPB announced the annual adjustments for inflation to the CFPB’s civil penalty amounts, as required by the Federal Civil Penalties Inflation Adjustment Act, as amended. This final rule is effective on January 15, 2024. Tomorrow we will have the Consumer Price Index, meant to broadly capture changes in the prices of goods and services; more tomorrow! (Today’s podcast can be found here, and this week’s is sponsored by Truework. By connecting every verification method into one platform, Truework helps lenders eliminate process disruptions, maintain a competitive borrower experience, and reduce the fiscal impact of verifying income.)

Lender and Broker Services and Software

Jonathan Spinetto COO & Co-founder at Nyfty Door, grew their business from 0 loan originations two years ago when he signed with TRUV, and is projected to hit 3,000 loans a month in 2024. NYFTY door sees conversion rates over 60 percent with Truv and is saving 60-80 percent over competitors! Contact TRUV today for your income, employment, insurance, and asset verifications.

How will you reach your goals in 2024? To lower costs and improve your margins on every loan, outsource to Computershare Loan Services (CLS). With CLS, you get an extension of your team that can support every part of your business, from your originations’ operation to your MSR retain/release strategy. Leverage their 20 years of experience and expertise to reduce costs, improve efficiencies, and mitigate risk. In this industry, you deserve a partner that has it all. Contact CLS to find out how they can help you reach your goals… in any market.

Production Managers are you starting 2024 off with the question, “How can I get all my originators working more like my top producers?” Then, you’re looking for the holy grail: habit duplication. Usherpa has been researching habits of highly successful loan officers for nearly 30 years, helping literally thousands of LOs increase production using habit duplication… through every conceivable market condition! How? Using data analytics (and lengthy history in the industry), Usherpa identified the most powerful habits of successful producers. Leveraging those trends coupled with Usherpa’s technology and commitment to customized training, you can ensure your team is primed to operate like the big hitters. Make your life a little bit easier and give your LOs the tools to duplicate top producers’ habits, learn how here. While you’re at it download the Usherpa eGuide “3 Habits of Top Producing Loan Officers (You Can Duplicate).”

Valuation professionals are tasked with being independent, impartial, and objective. But completely removing human involvement in the home valuation process is nearly impossible. Thanks to the increased use of artificial intelligence (AI), however, today’s technology can help lenders and investors assess property values more accurately and prevent valuation bias. Sign up for a complimentary webinar hosted by ICE to hear about AI and the future of home valuations. A panel of industry experts will discuss the ways AI-powered tools eliminate valuation bias. They’ll also cover how AI accelerates the valuation process, and ways you can look out for fraud when using AI in home appraisals. The webinar, Artificial Intelligence and the Future of Home Valuations, will be held on Tuesday, Jan. 23 from 2 -3 p.m. Don’t miss out on key insights: register here.

Don’t just “stay alive until 25” with Loan Vision, a software built by the mortgage industry for the mortgage industry, you can “do more in 24!” Customers on Loan Vision see improvements of 30 percent+ decrease in days to close the books, 20 percent+ reduction in accounting headcount, complete LOS to G/L automation, and improved reporting and visibility. Interested in learning how Loan Vision can help you run a more efficient and profitable company? Contact Carl Wooloff to schedule a call today.

Halcyon has introduced a pioneering RIA Services integration with Encompass Partner Connect, aiming to diversify lender revenue amidst a challenging market. With the decline of refinancing opportunities and high interest rates, Halcyon’s initiative focuses on enhancing borrower-lender relationships through its new RIA Offering. This service enables loan officers to identify factors influencing home purchases during customer interactions, facilitating seamless referrals to RIAs for financial advice directly within Encompass. If a borrower signs up for services, a revenue share is provided back to the lender. Halcyon’s advanced technology ensures all tracking, compliance, and details are handled efficiently for the lender. As buying a home is often the largest investment in one’s life, early financial advice can be crucial for ensuring a stable financial future for new homeowners. You can read the full press release here. Want to learn more about the only Registered Investment Advisory solution on Encompass? Reach out today!

Compliance and Regulatory Tracking Products

Best Practices for Out-of-State Mortgage Lending from Ncontracts! As a mortgage lender, you’re already familiar with the Truth in Lending Act (TILA), the Home Mortgage Disclosure Act (HDMA), and the Equal Opportunity Credit Act (ECOA). However, mortgage lending is regulated by state laws as well, and that’s where things get complicated. In this latest article, experts from Ncontracts address the potential regulatory pitfalls mortgage lenders encounter when they grow their business in other states, plus ways to overcome them. Read the full article for more.

“Looking for an overview of all the significant legislation and regulations affecting lenders and servicers in 2023 and a preview of what’s to come in 2024? Download the annual regulatory and legislative update from Covius Compliance Solutions. Our latest report looks at what’s new in loss mitigation requirements, the CFPB’s crusade against junk fees, fair lending and servicing initiatives and growing scrutiny of AI and Chatbot usage. The report, titled “Navigating the Mortgage Industry Landscape: 2023 Review & 2024 Outlook,” also provides an analysis of major state lending and debt collection legislation and proposals. Get your copy today.

Credit and Investor News

In a combination of credit and lender news, CrossCountry Mortgage (CCM) has become an early adopter of FICO® Score 10 T, the most predictive score, to support origination and decision making for non-confirming loans. “Additionally, CCM is the first mortgage lender to commit to issuing mortgage-backed securities (MBS), exclusively based on FICO Score 10 T, enabling investors to update their guidelines to accept the most predictive score for MBS and allowing the $12 trillion MBS global market to have access to more powerful insights and information… This move will enable investors to update their guidelines to accept the most predictive score for MBS and allow the $12 trillion MBS global market to have access to more powerful insights and information. This commitment will be the first step for investors to familiarize themselves with the new score and realize the promised performance improvement. This first ever instance of FICO Score 10 T applied to an MBS pool will show investors, rating agencies, and other stakeholders a real-world example of the improved predictive performance offered by FICO Score 10 T.” “FICO is committed to assisting mortgage industry participants looking to transition to its most current model, FICO® Score 10 T. The FICO Score Migration Resource Center provides a detailed guide to support organizations through their score transition with key planning steps and activities, in addition to implementation best practices.”

Effective immediately, Pennymac is aligning with FHA ML 2023-17 supporting the use of rental income for single-family properties with an Accessory Dwelling Unit (ADU). For information, view PennyMac Announcement 23-88.

FHA and VA Increased Loan Limits for 2024 are addressed in PennyMac Announcement 23-87.

HighTechLending Wholesale introduced its new Jumbo Proprietary Reverse Product, the Platinum Reverse, available in three variations: Maximum LTV Fixed Rate, Adjustable Rate with a Line of Credit, and Reduced LTV with a lower Fixed Rate.

Plaza gives you the renovation programs your borrowers need to transform their current or future home to be “remote-ready” for work, school or anything life brings. Borrowers can combine the purchase or refinance of their home with the cost of its renovation, all in a single closing. Plaza offers the popular Fannie Mae® HomeStyle®, Freddie Mac CHOICERenovation® USDA Renovation and VA Renovation programs, as well as FHA 203(k) Standard and Limited.

The Federal Housing Administration announced that it will increase the maximum claim amount for their Reverse Mortgage Program (Home Equity Conversion Mortgage) in calendar year 2024 from $1,089,300 to $1,149,825 effective for case numbers assigned on or after January 1, 2024. Contact HighTech Lending to discuss HECM opportunities.

In November, VA published Transmittal of Change 38 to VA Pamphlet 26-7, Revised, VA Lender’s Handbook (07/27/2023) announcing revisions to VA Lenders Handbook Chapter 7 Topic 7, on Temporary Buydowns. For additional information, see AmeriHome Mortgage Product Announcement 20231208-CL.

Angel Oak’s DSCR Loan (Investor Cash Flow) program has been enhanced to accommodate an impressive 85 percent Loan-to-Value (LTV).

The Second+, Hometown Equity Mortgage’s standalone second boasts an impressive CLTV to 90 percent.

Capital Markets

Even with this week’s mini-Refunding, it’s been a bit of a snoozer in the capital markets. Typically, mortgage and Treasury security pricing is a direct result of supply and demand, although Treasuries and MBS saw some brief buying yesterday in reaction to the day’s strong $52 billion 3-year note auction and the market inched down in price ahead of the close. The November trade balance was better than expected, showing a deficit of $63.2 billion versus a downwardly revised $64.5 billion in October. Exports were $4.8 billion less than October exports while imports were $6.1 billion less than October imports. The drop in both exports and imports fits in with a weakening global economic environment. Separately, the NFIB Small Business Optimism Index rose to 91.9 in December from 90.6 in November.

Today’s economic calendar kicked off with mortgage applications increasing 9.9 percent from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending January 5, 2024. The results include an adjustment to account for the New Year’s holiday. Later today brings Wholesale inventories and sales for November, more Treasury auctions that will be headlined by $37 billion of reopened 10-year notes, and remarks from New York Fed President Williams. We begin the day with Agency MBS prices roughly unchanged from Tuesday night, the 10-year yielding 4.00 after closing yesterday at 4.02 percent, and the 2-year at 4.34.

LO Jobs

“Embarking on a new professional journey shouldn’t mean pressing pause on your success. At Homestead Funding, we support seamless transitions for our newest team members while safeguarding your uninterrupted business growth. Our dedicated Onboarding Team provides you with program knowledge, marketing materials, and essential tools, paving the way for your accomplishments. As we approach our upcoming Sales Summit this Spring, our Loan Originators will have the chance to delve into the latest industry technology and strategies presented by leading mortgage experts. Discover how Homestead facilitated a smooth transition for Carrie Hamel and her team. Within just a year, Carrie achieved top-producer status, earning a coveted spot in our 2023 President’s Club. Ready to propel your business forward with us? Contact Michele Teague at (518)-368-1494 to explore how Homestead Funding can be your mechanism for success!”

“Okay, here’s what I came up with…New Year, New Career at PrimeLending. Now is the perfect time to take charge and position yourself to thrive in 2024 and beyond. Contact us today to set up a guided tour of our best-in-class tech stack that’s helping our LOs build their personal brand and close more loans. Schedule a time to meet with PrimeLending’s dynamic, engaged leaders, the driving force behind your future success. Get to know the camaraderie and passion that define our award-winning culture, one reason over 30 percent of our workforce has called PrimeLending home for more than a decade. Seize this moment and explore making the change that will propel your career to the next level. Your future awaits, and it all starts by connecting with Nic Hartke. The time is now!”

Fairway Independent Mortgage is hosting a Virtual Fairway Day on Thursday, January 18, at 2PM CT. “Want to know what makes Fairway the best mortgage company to work for? Now’s your chance! Join us and learn everything you need to know about Fairway’s products, platforms, training and coaching directly from Fairway CEO, Steve Jacobson, President of Retail Sales East, David Lazowski and other executives.”

Download our mobile app to get alerts for Rob Chrisman’s Commentary.

Source: mortgagenewsdaily.com

Apache is functioning normally

January 12, 2024 by Brett Tams

If you want to start a business, one thought may go through your mind (particularly if you’re funding your business out of pocket): “If I didn’t have to repay my student loans, I’d have more money to put toward my business.”

No doubt about it, student debt can be steep. The current average federal student loan debt per borrower is $37,338 and $54,921 per private loan borrower. Student loan borrowers who feel stymied by their debt may wonder how to get their business idea off the ground.

If student loans gobble up a chunk of your cash every month, refinancing might free up funds to put your fledgling business on the right track. Read on to learn how refinancing student loans can benefit the launch of your new business.

What Is Student Loan Refinancing?

Before diving into the definition of student loan refinancing, let’s discuss the components that make up a student loan: principal, interest rate, and loan term.

• Principal: The principal is the original amount that you borrowed, which you will repay with interest over time.

• Interest rate: The interest rate is a percentage of the loan principal that you pay monthly — on top of a portion of the principal. This is charged by the lender and is how they earn money while lending you cash.

• Loan term: The loan term is the amount of time in which you will repay your loan.

Student loan refinancing means replacing your existing student loan with a new student loan. You can refinance either federal or private loans with funds from a private lender. There are two important points to keep in mind if you are considering refinancing. These factors can help you determine if refinancing is a good fit for you.

• When you refinance federal loans with a private loan, you forfeit federal protections and benefits, such as deferment and forbearance.

• If you refinance for an extended term, you may end up paying more in interest over the life of the loan, even if your monthly payment is lower.

💡 Quick Tip: Get flexible terms and competitive rates when you refinance your student loan with SoFi.

Benefits of Student Loan Refinancing

Some of the key reasons to refinance your student loans include the following:

• Potentially lowering your interest rate: Reducing your interest rate on your student loans can save you a lot of money over time because you won’t pay as much in interest per monthly payment. Check with various lenders to ensure you’re getting the lowest interest rate possible. You can usually get the best rates by having a strong credit score and a steady source of income. Your credit score is the three-digit number that reflects how well you’ve paid back debts in the past.

• Reducing your monthly payment: When you work with a lender to extend your loan term, you may reduce your student loan payments per month. For example, you may extend your loan term from 10 years to 15 years, though the specific options will depend on your lender. Note, however, as mentioned above, that extending your term often means you’re likely paying more interest over the life of your loan.

• Obtaining a single monthly payment: Instead of making multiple monthly payments, you can refinance and make one monthly payment. Sticking to one monthly payment can help you stay organized and make your payments on time. You don’t have to refinance all of your student loans, however. For example, if you have five student loans and you have a low interest rate on one and a high interest rate on the rest, you could refinance just those four. Use a student loan refinance calculator to determine how different refinance scenarios might work to your advantage.

• Choosing between variable- and fixed-rate loans: Refinancing may allow you to choose between a fixed- or variable-rate loan. A fixed-rate means your interest rate stays the same throughout the life of the loan, while a variable rate changes — and could increase or fall over time.

Note that you can also consolidate student loans, which involves combining several federal student loans into one loan, through the Direct Loan Program.
💡 Quick Tip: Refinancing could be a great choice for working graduates who have higher-interest graduate PLUS loans, Direct Unsubsidized Loans, and/or private loans.

How Refinancing Student Loans Can Benefit a New Business

So, how exactly does refinancing student loans benefit a new business? Here’s a closer look.

1. Lower Your Loan Payments

As mentioned earlier, refinancing can help lower your loan payments by possibly offering a lower interest rate and/or by stretching out your loan term. Lowering your monthly payments can allow you to devote more financial resources toward your new business. You can also use the extra money to pay for household expenses or financial goals, like the down payment on a house or your retirement nest egg.

2. More Money to Get Business Loan

First, to clarify: Using student loans to start a business is a no-go. Student loan money should go toward education costs, living expenses, and housing. When you refinance, you can lower your monthly repayment amount. That can help your overall financial outlook. Then, if you apply for a business loan, you may have a more creditworthy profile.

A bank or credit union will review your financial information to evaluate your qualifications for a business loan. If you refinance your student loans and lower your monthly payment, that could help improve your debt-to-income ratio (DTI), an important indicator when you apply for a loan. Your DTI is calculated by all your monthly debt payments divided by your gross monthly income. If you lower a component of your monthly debt (say, your student loan), you can lower your overall DTI, which is a positive.

3. Use Business Income to Pay Student Loans

Are you wondering, “Can my business pay my student loans?” The answer to that is “no,” if you mean pay directly through your enterprise. However, if you launch a business and earn income, of course you can use your pay to eliminate your debt, whether from a student loan or another source.

Keep in mind that as a business owner, you could get tax breaks that other taxpayers can’t claim, but you can’t deduct the principal payments you make on student loans.

Recommended: How to Get Out of Student Loan Debt

Refinancing Student Loans With SoFi

Looking to lower your monthly student loan payment? Refinancing may be one way to do it — by extending your loan term, getting a lower interest rate than what you currently have, or both. (Please note that refinancing federal loans makes them ineligible for federal forgiveness and protections. Also, lengthening your loan term may mean paying more in interest over the life of the loan.) SoFi student loan refinancing offers flexible terms that fit your budget.

With SoFi, refinancing is fast, easy, and all online. We offer competitive fixed and variable rates.

FAQ

Can you start a business if you have student loans?

Yes, you can start a business if you have student loans, but it may be harder to access business credit and save cash to put toward your business. No matter what, you must keep up with your student loan payments. Not making your payments can hurt your credit score later, which in turn can hurt your application for a small business loan.

How do I start a student loan?

You can apply for federal student loans by filing the Free Application for Federal Student Aid (FAFSA), which helps determine the amount of federal student aid you can receive. You can apply for private student loans on lender websites.

Can I get an SBA loan with defaulted student loans?

Through the Small Business Administration, SBA loans require potential borrowers to keep up to date on student loan payments. Unfortunately, you could become ineligible with defaulted student loans.

Photo credit: iStock/ferrantraite

SoFi Student Loan Refinance
If you are a federal student loan borrower, you should consider all of your repayment opportunities including the opportunity to refinance your student loan debt at a lower APR or to extend your term to achieve a lower monthly payment. Please note that once you refinance federal student loans you will no longer be eligible for current or future flexible payment options available to federal loan borrowers, including but not limited to income-based repayment plans or extended repayment plans.

Checking Your Rates: To check the rates and terms you may qualify for, SoFi conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.

Tax Information: This article provides general background information only and is not intended to serve as legal or tax advice or as a substitute for legal counsel. You should consult your own attorney and/or tax advisor if you have a question requiring legal or tax advice.

SOSL1023016

Source: sofi.com

Apache is functioning normally

January 11, 2024 by Brett Tams

Vendor and Lender Tools; Agency News; 2023: Hottest Year on Record

This website requires Javascrip to run properly.

Vendor and Lender Tools; Agency News; 2023: Hottest Year on Record

By:
Rob Chrisman

Tue, Jan 9 2024, 8:37 AM

Is it just my imagination or do restaurants no longer have salt and pepper shakers on the tables after COVID? Is it just my imagination or do organizations with initials that begin with “N” have trouble keeping their leadership? In August of 2023 the chief of NAR resigned, last week it was the NRA, and this week it is NAR’s turn again, this time losing Tracy Kasper to blackmail!

Meanwhile, keeping on with real estate news, and realizing that anyone can sue anyone, news came out after Christmas that Zillow, which also owns Zillow Home Loans, is suing rivals over software that schedules property showings.

Agency news

Freddie Mac (FHLMC) and Fannie Mae (FNMA) still have the lion’s share of the applications coming through lenders. What’s going on with their conventional conforming products?

Fannie Mae SVC-2023-06 December Servicing Guide update advises large non-depository sellers/servicers of updates to the frequency of financial reporting requirements and provides other miscellaneous updates.

Fannie Mae and Freddie Mac are equipping lenders with updated resources for Uniform Loan Delivery Dataset (ULDD) Phase 5. Updates include an enhanced ULDD extension schema, featuring Phase 5 extension data points, and updated ULDD FAQs referencing the schema.

Fannie Mae posted the December Appraiser Quality Monitoring (AQM) list.

Pennymac Announcement 23-89 addresses Fannie Mae SEL-2023-09, Rental Income and Self-Employed Borrowers Update.

AmeriHome Mortgage Announcement 20231209-CL summarizes previously published changes made during December, additional changes made with the announcement, and recent Agency and regulatory news.

Mother Nature bats last

Yes, storms are a regular event around the world. For example, the storm hitting the Midwest and Southeast of the United States with blizzard conditions and potential flooding is “normal.”

What isn’t “normal” is 2023 being the hottest year on record, whether it is caused by man or part of a natural cycle over thousands of years. “Climate change deniers” can shrug it off, but when the increased likelihood of major storms, flooding, and forest fires impact mortgage pricing and insurance rates (if you can get insurance at all), and therefore your clients, it is a problem. Or if places like Honduras become unlivable due to the heat and lack of air conditioning, forcing shifts in where populations live, then it matters.

Tennessee Tornadoes: DR-4751-TN. and 4751-DR-TN Amendment 001.

On 12/28/2023, with Amendment No. 1 to DR-4751, FEMA declared federal disaster aid with individual assistance has been made available to three Tennessee counties, Cheatham, Gibson, and Stewart, affected by severe storms and tornadoes on 12/9/2023. See AmeriHome Mortgage Disaster Announcement 20231210-CL for inspection requirements.

Capital markets: pretty quiet out there

Economic data over the past week has highlighted the various effects tighter economic policy has had on different sectors of the economy. Interest rate sensitive areas remain the most strained, but 216k jobs were added during December and the unemployment rate remained at 3.7 percent, which shows labor markets have only moderated slightly. Most new jobs were concentrated in government, healthcare, and leisure and hospitality. November’s JOLTS report showed job openings continue to shrink as demand for labor slowly subsides and the quit rate fell below its pre-pandemic level.

December was also the 14th consecutive month of contraction in the manufacturing sector of the economy, according to the ISM Manufacturing Index. Spending on durable goods has fallen five of the last ten months compared to spending on services which has only dipped once in the past 40 months. However, demand for services is expected to moderate as the economy slows. Construction spending ticked up 0.4 percent in November though most spending was concentrated in single family housing. Multi-family construction spending has lost momentum as vacancy rates have risen.

After a lack of news to open the week (we learned that consumer credit increased by $23.7 billion in November), today’s economic calendar is already under way with the NFIB Small Business Optimism Index for December (91.9 versus 90.6, so a slight increase) and the November trade deficit ($63.2 billion, down from the prior month but little changed). Later today brings Redbook same store sales for the week ending January 6 and Treasury auctions headlined by $52 billion 3-year notes. Markets will also receive remarks from Fed Vice Chair of Supervision Barr. We begin the day with Agency MBS prices worse .125 from Monday’s close, the 10-year yielding 4.05 after closing yesterday at 4.00 percent, and the 2-year at 4.38.

Lender and broker services and software

Orion Lending slashed its annual expenses by $300,000 and boosted their conversion rate by 32 percent using Truv’s income and employment verification solution. “Truv transformed our verification process, expanding our reach and cutting costs,” asserts Richard Plummer, EVP of Operations at Orion Lending. Stop Overpaying. Contact TRUV today for your income, employment, insurance, and asset verifications.

“Wish you had a New Year’s resolution you could actually keep in 2024? How about 5? Contact PHH today and get on track to reduce delinquencies, shorten default timelines, resolve more loans in foreclosure, lower subservicing costs and increase customer satisfaction. No other servicer has been more highly decorated with top servicing awards from all three agencies (Fannie, Freddie, and HUD) over the past two years. We can onboard your portfolio (no matter the size) in 90 days or less, and a recent client saw a 70 percent reduction in complaints in the first 6 months after switching to PHH. What are you waiting for? Start 2024 by reaching out to Chris Sabbe today and let PHH help you reach your goals in the new year!”

Maximize your return on every loan with better secondary pricing and industry-leading technology. Now more than ever, lenders need solutions that allow scale while reducing operational costs and increasing revenue per loan. With Maxwell Capital, lenders can access competitive secondary market pricing on a wide array of products, including non-QM and jumbo, and full-service fulfillment support on both wholesale and mini correspondent offerings. Plus, Maxwell Capital customers gain access to Maxwell Point of Sale, a digital mortgage platform with built-in business intelligence to track and benchmark performance. Schedule a call with Maxwell today and start doing more for your bottom line.

“Processor & Underwriter Automation: Zoral’s automation platform delivers amazingly accurate results in record time! Improve processing and underwriting turn times from days to minutes. Zoral analyses, calculates, and compares LOS data to document data. Dynamic notifications and conditions provide your team with a concise roadmap of what is needed on every loan, at every milestone, all the way to CTC. Our engines accurately categorize, analyze, and calculate eligible income from all income sources, including 3rd party providers such as Account Check. Bank statements are analyzed to identify EMD, cash to close, large deposits, recurring debits, and credits etc. For the past 20 years, Zoral has been creating the most advanced, AI powered, automation solutions anywhere in the world. Our proprietary solutions are designed and built in-house and rapidly implemented. Stop messing with headcount at every turn of the market. Zoral’s automation platform will provide the elasticity to handle even the most unpredictable environments. To learn more about our automation solutions for mortgage, contact Peter Sandler.”

As we usher in the Year of the Wood Dragon, a mythical creature thought to signify unprecedented opportunities, the folks at Down Payment Resource (DPR) contend 2024 also will be the Year of Down Payment Assistance, with DPA offering unprecedented opportunities for lenders to qualify more homebuyers. DPR has been in the business since 2008, amassing a national database of 2,200+ verified DPA programs. As the original keepers of all things DPA, DPR makes it easy for lenders to match otherwise qualified applicants to assistance programs across the United States. DPA can help you qualify more buyers, especially LMI and minority buyers, reduce declined loan numbers and make you a strong contender for referrals and repeat business. That’s an unprecedented opportunity for 2024 you shouldn’t pass up. Need more info? Meet with Tani Lawrence at MBA IMB (Feb. 22-24) or schedule a virtual demo.

Partnering with the right subservicer can make the difference in growing your business and staying a step ahead of a dynamic mortgage market. LoanCare®, one of the nation’s top subservicers, can help you better manage and grow your portfolio in 2024 and beyond. We’ve serviced loans for banks, credit unions, independent mortgage companies, and portfolio investors for over 40 years with solutions for any servicing scenario. We’ll be at the MBA IMB Conference in New Orleans Jan. 22-24, contact us to learn why now is the right time to make LoanCare your servicing partner. And don’t miss Jerry McCoy, EVP, Performance Management at LoanCare speak on the conference panel, “Uncover the Hidden Financial Risks & Rewards in Your Servicing,” on Tuesday, January 23 at 1:30 p.m.

Broker & correspondent loan products

“Expanding your Non-QM products and liquidity options with eRESI Mortgage has never been easier. Come see what other eRESI correspondent partners tap into, whether it’s our industry-leading pricing or fast turnaround times, all while gaining direct access to our long-term capital base. Our partners often rely on our experience as a seasoned loan investor with a highly experienced leadership team dedicated solely to your success. We provide access to a streamlined technology platform, a full suite of Non-QM products (including Full Doc, Bank Statement, and DSCR), and a credit team that understands individual needs. We are also thrilled to announce the launch of our Closed-End Second Lien product, allowing borrowers to access their equity without having to refinance their existing loan. To learn how we can help you grow your business, contact your eRESI representative or email our Business Development team to get started (Contact)!”

“Welcome 2024 with AFR Wholesale®, where we see a golden opportunity for prospective homeowners to achieve their dreams. We invite dedicated professionals like you to join us in expanding your business horizons. Why include AFR in your New Year’s resolutions? 1. Empower Borrowers: Our comprehensive suite of services is designed to empower your borrowers, from flexible financing options to personalized support. 2. Grow Your Business: Partnering with AFR means tapping into a wealth of resources and expertise. Our collaborative approach is tailored to support your growth, ensuring you have the tools and support needed to reach new heights. 3. Optimism/Strategic Planning: Making AFR a part of your 2024 journey means joining a community dedicated to success, innovation, and excellence. Let’s make 2024 extraordinary together! Happy New Year! Ready to partner with AFR? Visit www.afrwholesale.com, contact [email protected], or call 1-800- 375-6071 today.”

There is a signalman up in Shasta County, California. He really wants to get a promotion, so he sends a letter to Union Pacific, and they send up an assessor.

He asks him what he would do if two trains were barreling down a track at each other.

The signalman says he would put one train on a passing loop.

“But what if the points are jammed?”

“I would throw the emergency switch”

“But what if the switch is on fire?”

“I would run out and use the lever on the line to switch the train into the passing loop.”

“But what if it was struck by lightning?”

“Then I’d get my uncle Frank.”

“Why?”

“He’s never seen a train crash!”

Download our mobile app to get alerts for Rob Chrisman’s Commentary.

Source: mortgagenewsdaily.com