Life is expensive and paying for rent can take up a significant chunk of your paycheck. In an ideal world, 30 percent of your income should go towards rent and housing costs. But life happens and you may come up short on rent due to loss of income or other unexpected expenses, leaving you wondering if you should take out a loan to pay rent. Coming up short on your rent payment is an extremely stressful situation and you’ll be looking for ways to make your rental payment and avoid eviction.
If you find yourself in this situation, what do you do? There are several options to weigh and taking out a loan to pay rent is one of them. Let’s walk through the pros and cons of rent loans and discuss several options you can consider if you’re behind on rent payments.
Is it possible to take out a loan to pay for rent?
If you get behind on rent payments, you’re not alone. In fact, more than 7 million renter-occupied households are behind on just last month’s rent alone. So, what are your options and is it possible to take out a loan to pay for rent? The short answer is yes, you can.
Using a loan to pay rent is an option. You can obtain a personal loan to pay rent and for some people, it’s a good idea. However, before you take out rent loans, you need to consider if it’s the right choice for you.
Pros of using a personal loan for rent
If you’re strapped for cash and need to pay for rent, there are some plus sides to taking out a personal loan for rent.
Pro #1: Provides a window of time for re-assessing your finances
By taking out a personal loan to cover your rent, you buy yourself some time to get your budget back on track. With a personal loan, you can pay for rent (either what you owe from missed payments or for future rent payments). Once you pay your rent, you’ll find yourself less stressed and you’ll think more clearly so you can get your budget back in a place where you can pay your loan back and have enough money for future rent payments.
Pro #2: Gives you flexibility
Personal loans allow you to use the loan money for anything you need. So, taking out a personal loan gives you the flexibility to use the money for rent or any other expense you need to cover. This flexibility is enticing for renters who need some financial help as the loan doesn’t specify what you can and cannot use the money for.
Pro #3: You can shop loan ranges and rates
Before taking out a personal loan, you’ll be able to shop around for loan ranges and rates. Make sure to compare your findings before you make a decision. You can take out a loan for as little as $1,000 or as much as $60,000 if needed. You can also compare interest rates.
It is important to try and find a loan with a low interest rate so you don’t accrue more debt than is absolutely necessary.
Pro #4: Can build a credit score
This is both a pro and con of personal loans, depending on how diligent you are with repayment. If you make your loan repayments in full and on time every single time, you’ll pay the loan off within the limits and build your credit score. If your credit score took a hit or is low, this is one way to rebuild your credit history.
However, it’s essential that you meet the terms of the loan for this to benefit you.
Cons of using a personal loan for rent
As with everything, when there are pros there are cons. Before taking out a loan to pay rent, consider the negative impacts of rent loans.
Con #1: You’ll pay interest
With any type of loan, you’ll pay interest on the amount you borrow. So, if you take out a personal loan toward rent, not only will you pay the rent money, you’ll also be paying money toward the interest.
If you have no other options, then taking out a loan for rent allows you to make your payment, stay in your apartment and come up with a new financial plan. Keep in mind that you’ll pay more with this option because of interest.
Con #2: Adds to debt
When you take out a personal loan to pay rent, you’re adding to the overall amount of debt you have. This may compound your stress and overall debt, causing more problems down the road. Also, when you rent, you aren’t putting money toward eventually owning an asset as with a mortgage toward a house. So, you’re compiling debt without working toward an eventual purchase.
Con #3: Could harm your credit score
If you fail to make your monthly loan payment, you could seriously damage your credit score putting you at risk for further financial hardship.
How to find a personal loan to pay back your rent?
If you’ve come to the conclusion that a personal loan is right for you, then you’ll need to know where to look and find one. Most financial institutions will offer loans and you can shop around for the loan that is right for you. Here are some places you can go to find a personal loan to pay back your rent:
Bank
Credit union
Online banks
Loan comparison websites
Because different places offer different rates on your loan, it’s smart to get several recommendations before taking out a loan.
Other options to pay back your rent
Unsure that a personal loan is right for you? We also have provided several other options to consider when you need money to pay back your rent. Before taking out a loan, you could consider:
1. Talking to your landlord
When you first realize that you may not have the money to pay your rent or if you’ve missed the due date, you’ll want to talk to your landlord immediately. Getting in front of the issue and addressing it openly is always a wise move.
Ask your landlord if he/she is willing to defer rent, offer a payment plan or waive late fees. You never know unless you ask!
2. Borrowing from a friend or family member
Do you have a trusted friend or family member that could loan you money for rent payback? If so, this is a less expensive option compared to getting a personal loan. Sometimes, close family or friends will loan you the money, interest-free, which is always a better option.
3. Call 211
You can the 211 community phone line to get referrals for services, like financial resources. If you’re in a bind, try calling this number and get in touch with local resources that can help with rent relief.
4. Consider a roommate
Imagine your rent payment being cut in half. Would that free up some of your budget? The answer is most likely yes. If you have space, you may consider getting a roommate who can share the cost of rental expenses and save you money, too.
5. Get a side gig
Nowadays, there are several side hustles that you can do from home, after work or at your convenience that pays well and would help your income. If you can get a side hustle that’ll cover the additional money you need for rent, this is a great option because it puts you in control of your money and you don’t need a loan to cover the extra expense of rent paybacks.
6. Reallocate your budget
Sometimes, we spend money on things like coffee, eating out or shopping and don’t realize how much of our budget it’s taking up.
Before you take out a personal loan, take a hard look at your expenses and budget to see where you can trim the fat. If there are areas to cut back on and reallocate expenses to rent payback, do this before taking out a personal loan.
Know your financial options
Now that you understand the pros and cons of loans to pay rent, you can make an informed decision if this is right for you. As always, you may want to consult a financial advisor before making a big decision like this to get professional guidance on what is best for you and your situation.
The information contained in this article is for educational purposes only and does not, and is not intended to, constitute legal or financial advice. Readers are encouraged to seek professional legal or financial advice as they may deem it necessary.
Sage Singleton is a freelance writer with a passion for literature and words. She enjoys writing articles that will inspire, educate and influence readers. She loves that words have the power to create change and make a positive impact in the world. Some of her work has been featured on LendingTree, Venture Beat, Architectural Digest, Porch.com and Homes.com. In her free time, she loves traveling, reading and learning French.
College graduates who have been bit by the travel bug but don’t have the funds to see the world might still have the opportunity to travel by working abroad after college. Living and working in a new country may have its challenges, but the experience may also transform graduates in ways that are likely to be impressive to future employers.
The Pros and Cons of Working Abroad
Though it can be an enjoyable experience, working abroad can also have challenges. Considering both the pros and cons is recommended before making this life-changing decision.
Pro: Making Money While Traveling
Working abroad allows graduates to start their career while also having the opportunity to travel. This can be a popular post-graduation choice for students who want to travel but don’t have the funds. Moving to a new country generally makes it easier to truly explore and get to know a country better.
Traveling to nearby countries may be easy, as well. Instead of visiting a single country during a one-week vacation, traveling workers might be able to experience multiple countries and cultures.
Recommended: Ways to Be a Frugal Traveler
Pro: Learning the Language
Living abroad gives people a great opportunity to learn a new language or sharpen their skills in one they already speak. Every situation, from ordering breakfast to figuring out transportation, will give recent grads an opportunity to improve their language skills. The ability to speak more than one language might also open more doors in the job market. Being multilingual has become an increasingly desired skill, and learning a language while abroad could pay off in the future.
Con: Culture Shock
Unfamiliar surroundings. A different culture. Moving to a new country means making adjustments. People will communicate differently, eat differently, work differently. Every part of life will be new, which can be both exciting and stressful. Adjustment to life in a new place may be experienced in a range of stages, beginning with excitement and enthusiasm, with maybe some frustration in the middle, to feeling at home in new surroundings and building relationships.
Con: Language Barrier
Dealing with a language barrier can be stressful and scary. Not only can a language barrier make daily activities difficult, it can also make building relationships slow-going. This can feel isolating for people who don’t understand the local language.
Finding Jobs
Finding an international job isn’t all that different from finding one here in the states. Recent grads might consider looking on well-known job search sites or those specific to finding opportunities in other countries. Some overseas job opportunities might be found on websites for international humanitarian organizations, travel magazines, or even the United Nations.
Requirements to Work Abroad
Getting a passport or travel visa and an employment visa are important parts of preparing to work in a foreign country. Most countries grant specific work visas to international workers, but the requirements and processes for getting the visa will vary by country.
It’s also important to know whether or not fluency in the language is required. People who are not fluent in a language other than English and do not want to learn before moving may want to consider countries where English is the official language.
Employment Abroad
Graduates who like to think long term may want to consider applying for jobs with global companies that have positions in multiple countries, including the United States. This may open up opportunities to move back to the U.S. in the future.
One popular choice for working abroad is teaching English. A teaching degree may or may not be required, so make sure to check the requirements in the country you are considering.
Another popular option is to look for seasonal work, such as jobs in the tourism industry. This can include working at a ski resort, a hostel, or bartending at a local restaurant. People who enjoy caring for children might be interested in working as an au pair, which typically includes room and board in addition to a salary.
Other Post-Graduation Decisions
Finding a job isn’t the only task that begins after graduation. Once a student graduates, drops below half-time enrollment, or withdraws from school, the task of paying back student loans begins. Direct Subsidized, Direct Unsubsidized, and Federal Family Education Loan borrowers have a six-month grace period before they’re required to start making payments. Students who took out a Perkins loan have a nine-month grace period.
Refinancing student loans into one new loan may offer borrowers a lower interest rate or different terms than their existing loans. Both federal and private student loans can be refinanced, but when federal student loans are refinanced by a private lender, the borrower loses federal benefits, such as income-driven repayment plans, loan forgiveness programs, deferment, and forbearance.
The Takeaway
Whether your future employment is in the U.S. or in a foreign country, there are many options to consider. Pros of working abroad after college include gaining new work and life experiences, learning a new language, and making money while traveling. Cons of working abroad include experiencing culture shock and language barriers, and possibly missing out on events back at home.
However, no matter where your future employment takes you, if you have a student loan, repayment will follow.
If refinancing a student loan is something you’re considering, SoFi has options that may work for your situation. Saving money is simple with SoFi’s online application process, low fixed or variable rates, and flexible terms.
See if you pre-qualify for student loan refinancing with SoFi.
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.
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.
Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
Wondering how to get paid for Amazon reviews? Everyone has heard of Amazon, but did you know that you can actually get paid to write reviews on Amazon products too? More and more companies want to know what people think about their products, especially with online shopping becoming so popular. Amazon, the biggest online store…
Wondering how to get paid for Amazon reviews?
Everyone has heard of Amazon, but did you know that you can actually get paid to write reviews on Amazon products too?
More and more companies want to know what people think about their products, especially with online shopping becoming so popular. Amazon, the biggest online store in the world, is a place where people really care about what you think.
Getting paid to write reviews on Amazon products is a way to earn some extra money while telling others about things you’ve actually tried. While there are certain rules and programs you might need to follow for some methods, it’s totally doable to make money by giving helpful feedback to other people who shop online.
Key Takeaways
Earning money by writing Amazon reviews is a way to share experiences and potentially make some extra cash.
Reviewers must adhere to specific guidelines and programs when participating in paid Amazon review opportunities, such as disclosing that you are writing a paid review.
How To Get Paid For Amazon Reviews
Do you really get paid for Amazon reviews?
Yes, you can really get paid for Amazon reviews – either through cash or free Amazon products. This is because companies want to see real reviews from real people to see what they can improve on.
Companies also know that one of the first things that people do before buying something is read the reviews – so having more reviews is helpful.
7 Ways To Get Paid For Amazon Reviews
There are several legit ways to earn money or receive free products for Amazon reviews. Below, I will explore several methods that you can try in order to get paid for reviewing Amazon products.
1. Answer surveys
One of the easiest ways to get started is with surveys.
You can get paid for your opinions on Amazon products by answering online surveys.
Companies use surveys all the time to learn what their current and potential customers think of their products, services, and company.
While you wouldn’t be writing a review on Amazon, instead, you could be giving your opinion on products that are sold on Amazon.
The best online survey sites include:
2. Start a blog where you review Amazon products
Creating a blog where you review Amazon products is another way to earn money.
You can monetize your blog through advertising, sponsored posts, affiliate marketing, and more. As your blog gains popularity, you may also receive free products from companies for review.
On your blog, you can write reviews for Amazon products. You would include Amazon affiliate links on your reviews, and earn money when someone purchases a product through your review.
For example, you could write a review on your blog about a children’s toy that you like. You would then include an affiliate link to this toy within your blog post. If someone purchases the toy through your blog post, then you can earn a commission.
This is all done through the Amazon Associates Affiliate Program. This is where you would get your affiliate links and it’s what allows you to earn a commission on sales you generate through your unique affiliate links. If you have a platform where you review or recommend Amazon products, this is a great way to earn additional income.
I recommend signing up for How To Start A Blog FREE Course.
3. Amazon Vine program
The Amazon Vine program is an invitation-only review program for Amazon’s most trusted reviewers.
This is done directly through Amazon.
As a Vine Voice, you will get free products in exchange for your honest feedback.
To become a Vine Voice, you will have to consistently write truthful and helpful reviews on Amazon, and then eventually you may get an invitation from Amazon Vine. So, whenever you buy something off Amazon, you should review it to increase your chances of getting an invitation.
Amazon Vine reviews are marked with a special badge “Vine Customer Review of Free Product” for full transparency.
Before you start writing reviews on Amazon, it’s important to understand their rules for reviews. If you don’t follow these rules, your reviews might be taken down, or in more serious cases, your account could be suspended.
Here are some important things to remember when you’re writing a review:
Your review should be based on your personal experience with the product.
Don’t include any advertisements, promotional materials, or external URLs in your review.
Avoid posting about delivery or customer service issues; instead, focus on the product.
Never exchange a review for payment, free products, or discounts from sellers without properly disclosing so.
As you continue to write honest and quality Amazon reviews, you may notice an increase in your helpful votes, boosting your Amazon profile. Providing unbiased reviews establishes your credibility, which may lead to more opportunities within the Amazon community and eventually an invite into the Amazon Vine program.
4. Social media influencer
Being a social media influencer is another way to write reviews for Amazon and get paid.
Brands partner with influencers all the time, giving free products or monetary compensation in exchange for honest reviews or promotion on social media platforms like Facebook, Instagram, TikTok, Pinterest, YouTube channel, and Twitter.
This can be done in multiple ways such as:
The Amazon Influencer Program allows social media influencers with a large following to earn a commission on products they recommend through Amazon. You can share referral links through this program within social media posts, reviews, and more.
Creating an Amazon storefront is another way that you can make income through Amazon’s affiliate program as a social media influencer. With your storefront, you can showcase your favorite products or create a curated list of items you’ve reviewed, earning a commission on any sales made through your store.
While you wouldn’t be posting reviews directly on Amazon sales pages as a social media influencer, you would be reviewing products on your social media accounts.
5. Become a book reviewer
Book reviewing is a popular way to receive free books and get paid for your opinion. You can write reviews on your own blog, on social media, or on websites like Goodreads. Some publishers may also send you free copies of their books in exchange for a review, and some websites may even pay you.
Now, you wouldn’t be writing reviews directly on Amazon, but you would be writing reviews for books that are sold on Amazon.
Authors and publishers often give away free copies of their books to get honest reviews. This is because readers, just like us, like to know what others think before investing a lot of time in a book.
These websites are not just looking for good reviews. They want to know your real thoughts and opinions.
Some book review websites to look into include:
Online Book Club
Kirkus Reviews
The US Review of Books
Publishers Weekly
You can learn more at 16 Best Ways To Get Paid To Read Books.
6. AMZDiscover
AMZDiscover is a site that connects Amazon reviewers with sellers looking for honest reviews.
AMZDiscover is mainly for Amazon sellers. However, it’s also a good place for getting free products. This is because sellers go to AMZDiscover to find people who can review their products.
After signing up, you’ll get notifications for free or discounted products in exchange for leaving a review on Amazon.
7. BrandBacker
BrandBacker is a site that connects influencers with brands looking for promotion and reviews on Amazon or other platforms.
Through BrandBacker, you can receive products for free or at a discounted price in exchange for reviewing or promoting them on your platform.
After you sign up, you will log in and have a dashboard that lists all of the available Amazon review opportunities for you. Then, you can apply to the campaigns that you are most interested in. Brands then review applications and if you are chosen, you will then get to review the product.
Steps and tips for writing Amazon reviews
Whether you are looking to make a full-time income reviewing Amazon products or if you are only looking for a side hustle, below are my tips for writing Amazon reviews.
Disclose that you are getting paid
It’s really important to be up front with everyone when you’re getting paid for a review on Amazon products as this helps to keep your credibility and trustworthiness intact. Plus, no one likes to buy a product only to realize that the review was fake.
Whether you are getting paid with money or with free products, you should disclose this in your paid reviews on Amazon products.
Just make sure to put a clear statement at the start of your review, saying that you got paid or got a free product in exchange for your honest thoughts.
Actually use the product
Before writing a review, make sure you have actually used or tested the product yourself. This allows you to write a real and detailed description of your experience, making your review more helpful for someone who is looking to possibly buy the product.
Be honest about the pros and cons
When writing an Amazon product review, be honest about both the positives and negatives of the product. Your goal is to help shoppers make a smart decision, so it’s important to provide a balanced and unbiased review. You may want to talk about the features you liked, but don’t hesitate to discuss any issues that you didn’t like as well. This helps your readers get a complete picture of what to expect and shows that you are a reliable source of information.
Add pictures or videos
To make your review even more helpful, you may want to add pictures or videos of you using the product. This allows readers to see the product in action and can help support your review about its features, advantages, or drawbacks. For example, if you are reviewing a life jacket, then you may want to take a picture of you wearing the life jacket as this can help to show the quality, fit, and more.
Recommended reading: Affiliate Marketing Tips For Bloggers – Free eBook
Frequently Asked Questions About Getting Paid For Amazon Reviews
Below are answers to common questions about how to get paid for Amazon reviews.
Is it illegal to get paid for Amazon reviews?
It is not illegal to write Amazon reviews. However, you should always disclose when you are getting paid for a review, as that is the law.
You should write honest reviews and avoid being deceptive. When you’re writing a review, the most important thing is to give useful information to other people who might buy the product. If you start taking money for writing reviews that aren’t honest or are tricky, it can really make people doubt if they can trust what you say. So, always focus on being real and helpful.
How do you become an Amazon product tester?
To become an Amazon product tester, you can begin by writing honest and detailed reviews for products you’ve already purchased right on Amazon. By regularly leaving reviews, you are telling Amazon that you are interested in writing quality reviews. Eventually, you may receive an invite to Amazon’s product reviewer program, Amazon Vine.
What is the Amazon Vine program? How do I join Amazon Vine as a reviewer? What is the process to get invited to Amazon Vine?
The Amazon Vine program is an invitation-only review program by Amazon. To join the program, you need to consistently post helpful reviews on the Amazon website. Amazon then identifies top reviewers and invites them to become Vine Voices. As a Vine Voice, you can request free products to review. There is no application process; just consistently write high-quality reviews to increase your chances of getting invited.
Are paid book reviews on Amazon legit?
Getting paid for reviewing books on Amazon can sometimes look suspicious because it might make people think you’re not being completely honest. However, there are some services and websites that offer legitimate paid opportunities for book reviewing, as long as they follow Amazon’s rules. It’s really important to make sure that any paid book-reviewing opportunities you take are in line with Amazon’s guidelines and always focus on being honest and clear about your opinions. This way, you can build trust with your readers.
What is the earning potential as an Amazon reviewer?
The amount that you can earn as an Amazon reviewer varies. If you run your own business as a blogger or social media influencer, then there is no limit to how much money you can make – instead, it depends on your reach and your strategy.
But, for other platforms like Amazon Vine, you are not making money. Instead, you are getting the Amazon product for free.
How To Get Paid For Amazon Reviews – Summary
I hope you enjoyed this article on ways to get paid for Amazon reviews.
As you can see, there are many options if you want to learn how to write reviews for Amazon and get free stuff as well as get paid.
From starting a full-time business to something that you simply do in your spare time, to get free stuff from Amazon (or even a discount), there is probably something on the list above that will interest you.
Remember, it’s not just about writing positive reviews everywhere – you want your reviews to be helpful and for them to include your honest opinion! Think about what you would like to see in a review to help you get started.
Do you have any other questions about how to get paid for Amazon reviews?
Seems like a simple thing — to measure the square footage of a house. Just multiply the length by the width of each room and add up all your numbers. Not so fast. First of all, what’s a “room”? Do closets count? Basements? And why does accurate measuring even matter? There’s a lot to unpack.
What’s so important about getting square footage right?
If you’re moving into a new home and you want to know if your California king is going to fit into the primary bedroom, it’s nice to know the room’s square footage.
But there’s more riding on how to calculate the square footage of a house than just being able to fit your stuff. The square footage of a house determines its value. Lenders rely on square footage for mortgage calculations, tax assessors rely on square footage for assessments.
So, if you’re renting a house now but thinking of buying, it’s important to understand your current square footage so you can make a good comparison when house hunting.
What’s included in a house’s square footage?
There are several different answers to this question. First, here are a few terms to understand:
GLA (gross living area) is a home’s finished livable space above ground. And, if any part of the finished space is below grade, the entire area is typically known as below grade. GLA calculates when appraisers measure the home’s exterior. It goes in public records and is often important for tax purposes.
TLA (total living area) is like GLA but it includes finished basement space or possibly an accessory dwelling unit (ADU).
Living space is determined by American National Standards Institute (ANSI) Z765, which is a voluntary guideline for describing, measuring, calculating and reporting area for single-family homes.
Living space generally refers to “anything that is under the roof, within the house that is finished and heated — space heaters don’t count,” said Bryan Reynolds, a Certified General appraiser in Kentucky and Tennessee and president of the National Association of Appraisers.
Rooms to measure when calculating the square footage of a house
You might be surprised by which rooms are included — and which are not — when determining how to figure out square footage:
Bedrooms
Bathrooms
Kitchens
Hallways
Finished closets
Areas that don’t count towards the square footage of a house
There are plenty of rooms or spaces in your home that would qualify as “living space,” but don’t get counted in the total square foot calculation:
Finished basement: Say you have a ranch home with 1,000 square feet above ground and a 1,000-square-foot finished basement. An appraiser would say it’s 1,000 square feet of above-grade space and 1,000 square feet below grade. A real estate agent might say that there are 2,000 total square feet.
Enclosed porch: “If it’s unheated or used seasonally and there’s a separate door to the livable area, then it’s not included,” Reynolds said. But “if it’s finished in similar quality to the rest of the home, functional in design and has a heat source that is permanent in nature, then it can be included.”
Garage: The normal garage storage space doesn’t count. However, a bonus room above the garage might count. Only if it’s heated and 100 percent finished to a similar quality as the house. And, if it’s directly accessible from the inside of the house though.
Accessory Dwelling Unit: Unless it’s actually part of the house, it’s considered a separate entity.
Then, if you want to really get into the weeds, what about the sort of dead space under the stairs? According to Reynolds, ANSI says to include it, but AMS (American Measurement Standard) allows you to remove it from the square footage equation.
And, if you’ve got a bay window with a bench under it, one could argue that if you were to take the bench away, there would be useable floor space and that should come with the square footage.
How to figure out the square footage
Now that you know what to measure, here’s how to measure. But first, remember the aforementioned ANSI Z765?
For a room to make it in a home’s total square footage, the ceiling must hit a certain height — seven feet or higher or six feet four inches if there are beams or soffits. Plus, no portion of the finished area can have a ceiling height of less than 5 feet.
Let’s say you’ve got a Cape Cod with a sloped ceiling and knee walls. That portion under the sloped ceiling (if it’s five feet or less) is not counted in the square footage (see image). In addition, the rest of the ceiling must hit at least seven feet for at least half of the room’s floor area.
Photo source: AccurateHomeMeasuring.com
Keep in mind that an appraiser will, hopefully, look around inside the house but will measure the house from the exterior — unless there’s that pesky sloped ceiling situation, in which case they will have to go inside or the square footage will be off.
According to Hamp Thomas, certified residential appraiser and author of “How to Measure a House Using the ANSI Standard,” the pros use a 100-foot tape measure to do their job. Certainly, a shorter tape measure would work. However, there is a lot of stopping, starting and adding that can lead to inaccuracies.
Measure around the outside of the house above the foundation. Multiply the length by the width of each rectangular space. If you’ve got a second story and can’t reach a corner on the exterior, for example, measure from the inside and then add the width of the exterior walls.
Know why you’re measuring
It’s likely that, if you’re reading this, you’re not a professional appraiser. If you’re interested in getting a general sense of how much footage you have in your house, grab a measuring tape and measure each room’s length and width and multiply those numbers. Then add all the square footages together. “Don’t forget to include any outside walls thickness, or just measure from the exterior,” Reynolds said.
If a room isn’t a nice rectangular shape and has jogs and bumps, create rectangles, measure and multiply the length by width. Then, add up all the bits and pieces.
And if old-school tape measures aren’t your thing, there are lots of free measurement apps that you can download to your phone. You can also put the information into Calculator Soup’s square footage calculator, which can help you figure out the square footage of differently shaped rooms.
Measure on.
Stacey Freed is an award-winning writer and former senior editor for Remodeling, a trade publication focused on the business of the remodeling and construction industry. As an independent writer, she continues to write about the building, design, architecture and housing industries. Her work has appeared in Better Homes and Gardens and USA Today special interest publications, Realtor magazine, This Old House, Professional Builder and online at AARP, Forbes.com, House Logic and Sweeten.com among other places.
While investors can buy both secured bonds or unsecured bonds, the main difference between the two is the amount of risk for the investor. Secured bonds are secured with collateral, e.g. by an asset or assets of commensurate value. Unsecured bonds are not secured with collateral, but investors who buy these bonds put their faith in the creditworthiness of the issuing company.
An example of a secured bond might be a mortgage bond, which is secured by the value of the underlying mortgage as well as the payments on that mortgage. An unsecured bond might be issued based on the promise of revenue. For example, a municipal bond that’s issued to raise money for a new hospital.
Key Points
• Secured bonds have collateral backing, reducing risk for investors, while unsecured bonds rely on the creditworthiness of the issuer.
• Secured bonds may be backed by physical assets or income streams, such as mortgage bonds or revenue bonds.
• Unsecured bonds, like U.S. Treasury Bonds, depend on the issuer’s creditworthiness and are riskier than secured bonds.
• Secured bonds offer the benefit of potential collection from issuer assets in case of default, but the process can be complex.
• Investors should consider their risk tolerance and goals when choosing between secured and unsecured bonds for their portfolios.
What Are Secured Bonds?
A secured bond is one that has an asset as collateral to back up a person’s investment. This asset can be something physical, such as a piece of property or equipment, or an income stream. A government agency might issue bonds to raise money to build a bridge, which is a common example of how bonds work.
In the government bridge-building example, the bonds could be secured — but, in this case, not by the bridge itself; rather, by the future revenue stream that will be generated after construction is complete when a toll will be charged for people to drive over that bridge.
This type of bond can sometimes be referred to as a revenue bond. These are often considered non-resource — meaning that, if the source of revenue dries up, the investor often doesn’t have an ability to get paid.
And a bond can actually be secured by both a physical asset and an income stream. An example of bonds that are secured by both is a bundle of mortgage loans. This has the physical property being mortgaged by borrowers as collateral, as well as the income stream that comes in when people make their mortgage payments.
A key benefit of choosing a secure bond is that, if the entity issuing the bond defaults on making payments to bond purchasers, then the investors can attempt to collect from the assets of the issuer to get their money.
The process isn’t necessarily as straightforward as an investor owning or buying bonds in default might like, however, in part because the collateralized assets may not be significant enough in worth to cover the totality of what’s owed — and in part because issuers may challenge the investors’ right to those assets. So, in reality, it can take weeks to months, or even longer, to actually get bond-related money from an issuer in default.
Investors who want to purchase secured bonds typically seek them out from corporations and municipalities. That doesn’t mean, however, that all corporate bonds are secured; in fact, many of these types of bonds are in fact unsecured.
💡 Quick Tip: Before opening any investment account, consider what level of risk you are comfortable with. If you’re not sure, start with more conservative investments, and then adjust your portfolio as you learn more.
What Are Unsecured Bonds?
Unsecured bonds are those that don’t have assets backing them. Instead, investors are given the “full faith and credit” of the entity issuing them that the bonds will be paid upon, as promised. U.S. Treasury Bonds, for example, are considered unsecured (although these are also considered one of the lowest risk investments available).
If the issuer of an unsecured bond defaults, owners of these bonds would still have a claim on the issuer’s assets, but are paid only after holders of secured bonds are paid.
From a risk and return perspective, it might seem as though secured bonds present a lower risk because they have collateral behind them. There may be some truth to that, but investors wanting low risk often buy Treasury bonds — unsecured investments — because the U.S. government has made all scheduled payments over the past 200+ plus years.
When choosing what bonds to buy, here’s guidance: as a generalization, debt that’s considered riskier will offer more attractive interest rates. Those backed by entities with strong economic profiles will have relatively lower rates. And, although “secured” sounds more reliable than “unsecured,” the reality is that a secured bond of “junk” quality is actually riskier than an investment grade unsecured bond.
A person’s goals when investing, including when choosing bonds, should help to guide which ones make sense to purchase.
Check out SoFi’s Investing 101 Center for strategies, news, and resources.
Secured vs Unsecured Bonds
There are pros and cons to investing in both secured and unsecured bonds. Investors would be wise to take everything into consideration. Here’s a quick look at the pros and cons
Secured vs. Unsecured Bonds: Pros
Secured bonds
Unsecured bonds
Security
Potential for higher returns
Low default risk
May be more choices on the market
Good diversification assets
May be a good middle-ground investment for less risk-averse investors
Secured vs. Unsecured Bonds: Cons
Secured bonds
Unsecured bonds
Subject to interest rate risks
Higher-risk
Not completely risk-free
More volatile
Lower potential returns
Subject to interest rate risks
Benefits of Investing in Bonds
In general, investing in either secured or unsecured bonds can have some benefits. Namely, that they provide a source of income, and can reduce portfolio volatility to certain degrees. But there are some differences, too.
Benefits of Investing in Secured Bonds
Bonds pay a fixed interest rate, typically paying investors twice a year, which creates the income that a bond holder may want. Plus, because they are typically lower in risk than stocks, they can help to reduce the overall levels of risk in an investor’s portfolio.
Because a person’s risk tolerance plays a significant role in the type of investing that is best for them, investors can determine their risk tolerance as a way of analyzing the degrees of risk that feel comfortable for them. Again, secured bonds are among the safest investments out there — but they’re not completely risk-free.
Benefits of Investing in Unsecured Bonds
The main benefit of investing in unsecured bonds versus secured bonds is the potential for higher or better returns. Since unsecured bonds are riskier, there’s a potential for higher rewards — the old adage is true, that there’s a correlation between risk and reward.
While unsecured bonds aren’t the riskiest investment on the market, they tend to be riskier than their secured counterparts.
How Bonds Factor Into Asset Allocation
Savvy investors typically create diversified portfolios, which contain a mix of assets, often including stocks and bonds with varying levels of risk and reward.
Diversification is the financial version of not putting all eggs in one basket, with asset allocation referring to the amount of money invested into each type of asset class within a person’s portfolio.
Individual investors can each decide what asset allocation makes the most sense for them, perhaps including 60% stocks and 40% bonds, as just one example.
Factors involved in determining asset allocation include an investor’s
• Financial goals
• Risk tolerance
• Investing timelines (when retirement is looming, for example, asset allocations may be different than for a younger investor)
By looking at these factors, along with possible investment options and their historical performances, an investor can choose a mix of assets that seem to dovetail best with his or her unique goals, challenges, and overall financial situation.
💡 Quick Tip: How to manage potential risk factors in a self-directed brokerage account? Doing your research and employing strategies like dollar-cost averaging and diversification may help mitigate financial risk when trading stocks.
Asset Allocation Models
There are four broad asset allocation models that can be shared to show varying investment strategies. Some, but not all of them, typically include bonds.
Capital Preservation Portfolio
As the name suggests, an investor creating this type of portfolio wants to preserve capital, and is averse to losing money, even short term.
This can be the type of portfolio created for investors who have short-term goals (meaning, those intended to be accomplished within one year), such as someone building an emergency fund, or saving to buy a car. Investors with capital preservation goals might put an entire portfolio in a money market fund because stocks and bonds alike can have short-term losses.
Income-producing Portfolio
Investors using this strategy typically focus on generating income, rather than portfolio growth, often because they will be living off investment income to some degree. For example, someone who is already retired might invest in income producing vehicles to supplement a monthly pension.
This person’s portfolio might include bonds, whether secured or unsecured, from government entities or corporations with a history of steady profitability. Other elements of the portfolio might include shares of stocks that pay dividends and/or real estate investment trusts. Investing in I bonds is another possibility.
Growth Portfolio
As a third investment model, a growth strategy can be chosen by people who want long-term portfolio growth. These investors may be willing to take more risk than those who fit into one of the two previous models described if they believe they can receive higher returns.
This investor may still be working and therefore not need to have their portfolios generate income yet. A portfolio focusing on growth may largely or even fully have stock investments.
Balanced Portfolio
This type of portfolio can be a blend of an income-producing and a growth portfolio. People of all ages along the investment journey may choose to use a balanced approach to manage portfolio volatility, and this type often contains a mix of common stocks with investment-grade bonds.
This type of portfolio, in other words, is created to balance assets that grow over time with less volatility with those that can produce growth.
Stock and Bond Allocation “Rule”
Financial professionals sometimes use formulas to determine the best mix of stocks and bonds in a portfolio for an investor. One such “rule” is to subtract the investor’s age from 110.
The number that remains may indicate the percentage of a portfolio that should go into buying stocks. So, while a 30 year old may use this to put 80% of funds into stocks, a 60 year old — using the same formula — would put in only 50%.
The remainder could be invested into a more conservative choice: bonds. Because different people have different risk tolerances, this is not a hard and fast rule; rather, it’s a starting point when deciding how aggressive or conservative an investor wants a portfolio to be.
💡 Recommended: Conservative Investing Explained
The Takeaway
Secured bonds and unsecured bonds differ in one key way: One is secured by collateral, and the other is not. That plays a role in how risky each type of bond is, and thus, can inform an investor’s strategy. Both types of bonds may have a place in an investor’s portfolio.
Portfolios may be rebalanced more often if an asset class experiences a significant change, with the goal always being to keep an investor’s portfolio on track with stated goals. Bonds of all types can be a part of that, but it may be best to consult with a financial professional for advice.
Ready to invest in your goals? It’s easy to get started when you open an investment account with SoFi Invest. You can invest in stocks, exchange-traded funds (ETFs), and more. SoFi doesn’t charge commissions, but other fees apply (full fee disclosure here).
For a limited time, opening and funding an Active Invest account gives you the opportunity to get up to $1,000 in the stock of your choice.
FAQ
What is the difference between secured bonds and unsecured bonds?
The main difference between secured bonds and unsecured bonds is that secured bonds are secured by collateral, whereas unsecured bonds are more or less dependent on the issuers’ creditworthiness.
What does it mean when a bond is secured?
A secured bond refers to the fact that the issuer of the bond has put up some sort of collateral. In that case, the bonds are less risky, because if the issuer defaults, the collateral can be sold to pay back bondholders.
What is the purpose of an unsecured bond?
Unsecured bonds allow companies or organizations to borrow money without putting up any collateral – which can be extremely helpful if they don’t have any. That makes them riskier, however, than secured bonds.
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Do you want to become a proofreader? If so, you may be interested in learning about the most popular proofreading course out there – Proofread Anywhere. In this Proofread Anywhere Review, I will help you learn everything that you can about this course so that you can decide if you should take it or not….
Do you want to become a proofreader? If so, you may be interested in learning about the most popular proofreading course out there – Proofread Anywhere.
In this Proofread Anywhere Review, I will help you learn everything that you can about this course so that you can decide if you should take it or not.
Proofreading is an in-demand job where you only need a laptop or tablet, an internet connection, and the skills to get started.
It’s a job where you can work at home or while traveling, and you get to choose your hours.
Learning how to proofread is a valuable skill that can open doors to a successful work-from-home career. Due to the increasing demand for online content, now is a great time to improve your proofreading abilities.
One popular way for improving your skills and starting a proofreading career is by taking the Proofread Anywhere course. In this article, we’ll talk about Proofread Anywhere, looking at what’s in the course, how it’s organized, the support available, and feedback from actual students.
If you’re looking for a quick Proofread Anywhere Review – Yes, I highly recommend taking this course if you are interested in learning how to become a proofreader. This course teaches you everything you need to know – from how to proofread and find mistakes all the way to finding proofreading jobs and building a successful career. The course is continually updated and it comes with lifetime access, which is amazing as well.
10
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.
Key Takeaways
Proofread Anywhere is a comprehensive course that teaches the skills needed to make money proofreading.
The course has an in-depth curriculum and a supportive community to help you succeed.
Many real students have shared positive reviews of their experiences with Proofread Anywhere.
Proofread Anywhere costs $697.
Proofread Anywhere Review
The below Proofread Anywhere Review will mainly be about their General Proofreading course – General Proofreading: Theory and Practice™ (GPTP).
What is proofreading?
Proofreading is the process of reviewing and checking a written document to find and correct errors in grammar, spelling, punctuation, and formatting.
As a proofreader, your job is to make sure a piece of text is clear, concise, and free from mistakes, making it easier for the reader to understand and enjoy.
If you often find yourself catching typos on restaurant menus, in books, on TV, or elsewhere, then this may be a great job to look into.
Recommended reading: 16 Best Ways To Get Paid To Read Books
What is General Proofreading?
General Proofreading is the core course sold by Proofread Anywhere. It focuses on teaching the theory and practice of proofreading various types of documents, from books and blog posts to academic papers.
General proofreaders are in demand across many different industries and can be hired by individuals or organizations. This versatility is what makes general proofreading a valuable skill applicable to a wide range of jobs.
The course aims to equip people with the skills and knowledge needed to start a freelance proofreading career.
What is Proofread Anywhere?
Proofread Anywhere is a company that has online, self-paced courses all about how to become a proofreader and how to start a proofreading business.
The goal is to teach you the skills to start a successful freelance proofreading business from your own home. The courses are made easy to understand, and you don’t need any prior proofreading experience (they will teach you the skills that you need in the course!).
When you enroll in a Proofread Anywhere course, you’ll have access to important resources like course materials and a helpful student Facebook group.
The company was started by Caitlyn Pyle, and Proofread Anywhere teaches people the ins and outs of the proofreading business while offering valuable resources and a supportive community. The goal is to give you the knowledge, skills, and confidence you need to start a rewarding and flexible career as a professional proofreader.
The General Proofreading: Theory and PracticeTM course comes with:
80+ lessons in 10+ modules
Bonus resource guides for all types of service-provider markets
40+ real-life example proofreading jobs
8 grammar-specific worksheets and workbook
Pep talk videos from the course creator
100-question in-depth vocabulary quiz
3 case studies
New and updated lessons
And more.
Who is Caitlin Pyle?
Caitlin Pyle is the founder of Proofread Anywhere. She’s an experienced proofreader who turned her skills into a successful freelance business.
Caitlin became a proofreader back in 2012 and made a great income with it. She was so passionate about proofreading that she started Proofread Anywhere as a blog back in 2014. It has since grown significantly!
She created Proofread Anywhere to share her expertise and help others find flexible, rewarding work-from-home opportunities. By providing accessible, high-quality training, Caitlin has already helped numerous students realize their freelance proofreading dreams.
You can read an interview that I did with Caitlin Pyle at How To Become A Proofreader And Work From Anywhere.
How much money do proofreaders make?
The amount of money you can make as a proofreader depends on things like your experience, speed, niche, and how much work you’re able to take on.
Proofreaders typically charge anywhere from $25 to $50 per hour, with some proofreaders earning even more. You can work part-time, work full-time, be self-employed, or be an employee for a business. So, the amount of money you can make will depend on that as well.
As you improve your proofreading skills and build your reputation in the industry, you can increase your rates and possibly earn a comfortable income working from home.
Many people and companies hire proofreaders and this can be a great way to grow your income and work from home.
Is Proofread Anywhere worth it?
If you are thinking about taking the Proofread Anywhere course, you’re probably wondering if it’s worth the time and money. I completely get it – you don’t want to waste your time or money after all.
I think that Proofread Anywhere is worth it, and I know several proofreaders who have gone through the course and now proofread.
Here are some reasons why taking the Proofread Anywhere course may be a great choice for you:
1. Helpful and educational lessons – Proofread Anywhere has two different courses: General Proofreading: Theory and Practice™ and Transcript Proofreading: Theory and Practice™. Both courses were created to give people the knowledge and skills they need in each of these proofreading areas. You will learn everything you need to know from start to finish, which is great!
2. Self-paced learning – You don’t have to worry about keeping up with a strict schedule, as the Proofread Anywhere courses are self-paced, which means that you can learn at your own comfort and convenience. This can be great if you have a busy lifestyle or if you simply prefer learning at your own pace. You can take the lessons at night, during the day, while watching your child, and so on.
3. Access to resources and support – Students of Proofread Anywhere receive resources like reference materials, quizzes, and practice worksheets (and these are amazing and so helpful!). There’s also a private Facebook group for students to share experiences, ask questions, find jobs, and more, which is very helpful.
4. Positive reviews – There are many positive reviews of Proofread Anywhere, and many students have said that the courses helped them improve their proofreading skills and even launch successful careers in the field.
5. Opportunities for growth – Completing a course from Proofread Anywhere not only improves your proofreading skills but can also open up new job opportunities. The skills you learn from these courses can be applied to many career paths, such as freelance proofreading, editing jobs, and more.
So, taking a Proofread Anywhere course can be a worthwhile decision for you if you’re looking to improve your proofreading skills and explore new career opportunities in this field.
How much does Proofread Anywhere cost?
Proofread Anywhere has two offerings – Ignite and Ignite Plus for the General Proofreading: Theory and PracticeTM course.
The Ignite package for Proofread Anywhere costs $697 and comes with lifetime access. This course teaches you how to become a proofreader and comes with all of the modules, a job board listing, bonuses, and more.
Ignite Plus costs $797 and includes everything in the Ignite package, plus a hand-graded exam (that will evaluate your aptitude and competence), certificate of completion, listing in the Self-Publishing School Preferred Outsourcer Rolodex, and membership in a separate marketing mastermind group for Proofread Anywhere general proofreaders.
Proofread Anywhere refund policy
Proofread Anywhere’s refund policy is 14 days long. If you are less than satisfied with your purchase, you can ask for a refund for any reason within 14 days of your purchase.
Pros and cons of Proofread Anywhere
Here are the pros and cons of the Proofread Anywhere General Proofreading Course:
Pros:
Thorough course content that covers proofreading basics and advanced techniques
Clear, easy-to-understand lessons designed for students with different levels of experience
Practical exercises and real-world examples that help you build your skills
Access to an online community where you can ask questions and receive support from fellow students and course instructors
Cons:
Some students may find the course price to be a little high, especially if they are just starting their proofreading career.
There might be a learning curve for those who are completely new to proofreading so that they can spot mistakes in content.
Proofread Anywhere has thorough courses for people interested in starting a proofreading career. The material is easy to understand, making it great for beginners to learn and grow their skills.
Proofread Anywhere course structure
The Proofread Anywhere course is organized and easy to follow, making it perfect for beginners looking to improve their proofreading skills.
Below, you will learn what is included in the Proofread Anywhere course as well as what you will learn.
This section will give you an overview of the course structure and a breakdown of the modules and lessons included.
Proofread Anywhere modules breakdown
The primary course offered by Proofread Anywhere is the General Proofreading: Theory and PracticeTM course.
This self-paced course comprises several modules, each containing lessons and video materials to help you grasp the concepts effectively. You’ll be able to learn at your own pace and make sure you thoroughly understand each topic before moving on to the next.
Module 1: Introduction To General Proofreading – In this module, you will learn what proofreading is, the skills that are needed, and an overview of what a proofreader does.
Module 2: Get into the Right Mindset – Here, you’ll learn about how to get into the success mindset, the different types of markets you can specialize in as a proofreader, and common terms used in the industry.
Module 3: Proofreading Basics – This module goes over the most common errors that you need to look for. There are also practice worksheets to test yourself.
Module 4: Proofreading Methods and Practice – This module will teach you the different types of proofreading methods.
Module 5: Turning Proofreading into a Business – This module is everything you need to know about how to turn your proofreading skills into a business. You’ll learn how to create a resume and website, how to set your rates, how to build your experience, and more.
Module 6: How To Find Clients – Here in this module, you will learn how to find clients.
Module 7: Your Workflow Once You Get the Job – This module teaches you all about your workflow once you have secured a proofreading job. From how to send the bill to sending over your completed work, this is a very helpful set of lessons.
Module 8: Getting the Most Out of the Freelancing Life – This lesson shows you how to structure your day, how to build confidence, and how to stay organized and productive as a freelance proofreader.
Module 9: Wrap-up Lesson – This is the final module in the Proofread Anywhere course, and it is a wrap-up of everything that you’ve learned.
Within the modules, you will also learn:
Grammar Refresher – This section covers grammar basics, including common myths and mistakes, parts of speech, pronouns, contractions, possessives, and verb forms. This equips you with the essential knowledge to become a professional proofreader.
Sentence Structure – In this crucial module, you’ll grasp sentence structure, subjects, predicates, sentence fragments, run-on sentences, subject-verb agreement, order of adjectives, adverbial clause vs. participial clause, and “which” vs. “that,” along with dangling modifiers. Strengthen your understanding and abilities with the comprehensive practice worksheets.
Spelling and Word Use for Proofreaders – You’ll be taught about different error types, typical typos, frequently misused words, handling numbers, American and British spelling differences, and capitalization – all important aspects for a proofreader. You’ll also get to practice with detailed worksheets and check your answers using provided keys.
Punctuation Principles – You’ll learn about common punctuation errors, including when and how to use apostrophes, hyphens and compound words, en dashes vs. em dashes, commas and semicolons, as well as quotation marks and italics. This section also covers American and British punctuation distinctions and includes a vocabulary quiz.
The course includes practice exercises in each module. These are meant to help you use your proofreading skills in real-world situations. The exercises range in difficulty, allowing you to progress and become more confident. By completing these exercises, you’ll get practical experience that will ready you for your future proofreading career.
Proofread Anywhere bonuses
There are also many bonuses offered in Proofread Anywhere’s General Proofreading course, such as:
“Look Better in Writing™ Handbook of Commonly Misused (and Abused!) Words” – This is a 57-page guide on words and terms that are easily mixed up and confused.
“The Ultimate Freelancer Tax Guide” – This is a 19-chapter guide all about accounting, tax preparation, deductions, and more.
“The Mindset Mastery Guide” – This is a guide on how to get over your fear of becoming a freelancer, how to see success, and more.
“5 Mindset Shifts for Goal-Crushing Confidence” – This is a resource that will teach you how to become more confident.
Proofread Anywhere support and community
When taking a course, it’s always nice to know what the community is like.
Facebook groups
As a Proofread Anywhere student, you will have access to a Facebook group dedicated to providing you a supportive and friendly community. These groups are designed for students to share their experiences, ask questions, and engage with others who are proofreaders.
Customer support
In addition to the Facebook group, Proofread Anywhere has great customer support to address any concerns or issues you might be facing. You can reach out to their team when you need help.
By participating in the community and utilizing the available support channels, you are not only reinforcing your learning journey but also building a strong network of fellow proofreaders. This will help you stay connected, motivated, and successful in your proofreading career.
Proofread Anywhere real reviews
Looking for real Proofread Anywhere reviews?
My proofreader’s real review of Proofread Anywhere
I have a proofreader for this website, Making Sense of Cents. Jill Klein has been proofreading for several years, and she personally took a Proofread Anywhere course back in 2016. I asked her two questions:
1. Do you think that Proofread Anywhere helped you become a proofreader?
“As a kid, I was a word nerd who won lots of spelling bees. Little did I know that this would lead to building a proofreading business later in my life.
But it wouldn’t have happened without Proofread Anywhere.
I had a good foundation, and then PA came along and helped me build up my business by adding walls, bricks, windows, a roof, and more. Through the PA course, I was able to improve my skills and expand my knowledge.
I am constantly learning new things about running an editing business, and the learning journey all began with Proofread Anywhere.”
2.Would you recommend the course?
“I always recommend Proofread Anywhere to anyone who asks!
Even now, seven years later, I remember the high quality of the instruction. It was a very good curriculum with top-notch teaching.
The course I took was Transcript Proofreading, and it has served me well in my nonfiction niche of proofreading content like web copy, advertising materials, and book manuscripts.
Plus, the PA Certificate of Completion provided credibility to clients who asked to see training documentation.”
Testimonials
Many students who have enrolled in and graduated from the Proofread Anywhere course find it well worth the money. They like the easy-to-follow course structure, self-paced learning, and lifetime course access. Most of the online testimonials are positive experiences with the course.
Proofread Anywhere Trustpilot reviews
Proofread Anywhere has excellent reviews on Trustpilot, with a 4.6-star rating out of 61 total reviews. The majority of customers have given the course a 5-star rating, while only 5% of Proofread Anywhere reviews are negative.
You can find the Proofread Anywhere reviews on Trustpilot here.
Proofread Anywhere Better Business Bureau
Proofread Anywhere is not listed on the BBB. This isn’t a bad thing, though, as most businesses aren’t listed on the BBB anyway.
Proofread Anywhere negative reviews
As with any product or service, there are bound to be some negative reviews. A very small percentage of customers have rated Proofread Anywhere with 1-star reviews. However, it’s important to remember that the majority of students are happy with the course, and the overall rating remains high. So, when looking for a proofreading course, Proofread Anywhere could be the right choice for you.
Transcript Proofreading course
Proofread Anywhere has another popular course – their Transcript Proofreading course.
Proofread Anywhere’s Transcript Proofreading course is a great course to take if you want to go into transcript proofreading.
Transcript proofreading is when you are proofreading for court reporters in the legal industry.
Here’s what’s in this course:
The Nuts & Bolts of Transcript Proofreading
Transcript Formatting, Moving Parts, and Processes
How to Use Technology and AI Tools to Proofread Transcripts
Practice With Real-Life Transcripts to Develop Your Skills
Effective Client Communication and Accounting
How to Find Clients
And more!
There is a free training workshop you can take on how to become a transcript proofreader here.
Recommended reading: How To Become a Court Transcript Proofreader
Frequently Asked Questions About Proofread Anywhere
Below are common questions about Proofread Anywhere.
Is proofreading a legit business?
Yes, proofreading is a legitimate business. Many people and companies rely on professional proofreaders to make sure their written content is free of errors and ready for publication. Proofreaders work with a variety of content such as books, articles, and websites. By taking courses like Proofread Anywhere, you can improve your skills and increase your chances of success in the proofreading industry.
Is Proofread Anywhere real? Is Proofread Anywhere a scam?
Proofread Anywhere is a real and legitimate online platform selling courses to improve your proofreading skills and establish a proofreading business. It was created by Caitlin Pyle, an experienced proofreader and entrepreneur. The overwhelmingly positive online reviews and the large student Facebook group show the program’s quality and legitimacy.
What does the Proofread Anywhere course offer?
Proofread Anywhere has comprehensive online courses that train you in the art of proofreading. The courses not only give you necessary proofreading skills but also guide you on how to set up a freelance proofreading business.
How long does it take to complete the Proofread Anywhere course?
The average time to complete the Proofread Anywhere General Proofreading course is under one month.
The time it takes to complete the Proofread Anywhere course will vary, though, depending on your individual learning pace and time commitment. The course is self-paced, so you can go as fast or slow as you would like. Some students may finish the course faster, while others may take more time to digest the material and practice the techniques.
Remember, you have lifetime access to the course as well!
Can you really make money proofreading? How much money can you make after taking Proofread Anywhere?
Yes, you can make money as a proofreader. However, like any freelancing work, your income will depend on various factors such as your experience, expertise, and the demand for your services. After completing the Proofread Anywhere course and gaining some experience in the field, you can potentially earn a steady income from proofreading work. The exact amount will depend on your personal success in finding clients and projects.
What kind of support can I expect after completing the Proofread Anywhere course?
After completing the course, students have access to several support resources, such as an online community for help and networking as well as finding proofreading job leads. Also, there is lifetime access to course updates.
Is there a Proofread Anywhere coupon code?
There might be Proofread Anywhere coupon codes or discounts available at certain periods. To get the latest information on promotions, it’s a good idea to keep an eye on the official Proofread Anywhere website and their social media channels. Also, if you sign up for the free training workshop, there is a very good chance that you will get a discount as well (highly recommend doing this as the free training is very helpful).
What is transcript proofreading?
Transcript proofreading is the process of reviewing and correcting written transcripts, which are records of spoken events such as interviews, speeches, or legal proceedings. A transcript proofreader checks accuracy and consistency, correcting errors in grammar, punctuation, spelling, and formatting. This specialized skill set usually requires extra training, and Proofread Anywhere offers a course focused specifically on transcript proofreading called Transcript Proofreading: Theory and Practice™, to help you develop these skills.
Proofread Anywhere Review – Summary
I hope you enjoyed this Proofread Anywhere review.
Proofread Anywhere is a very helpful online course designed to train you in the art of proofreading so you can transform this skill into a full-time or side income. Whether you want to make extra income or start a full-time business, this course aims to equip you with every necessary skill for spotting errors in documents and providing quality feedback.
Here’s a quick Proofread Anywhere review:
This is an in-depth course covering all aspects of how to become a proofreader.
There is a supportive community and there are resources for continuous learning.
The course helps in improving proofreading skills, in case you are new.
There are lots of practice questions so that you can spot mistakes once you start proofreading.
The course is extremely helpful and I think it’s a great choice for anyone who wants to become a proofreader.
Don’t forget, there is a free workshop where you can learn how to become a proofreader. You can sign up for free here.
What other questions do you have for my Proofread Anywhere Review? Are you interested in becoming a proofreader?
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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.
Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations.
An ACH transfer is an electronic method of moving money from one bank to another via the Automated Clearing House (ACH). ACH transfers are more convenient because they’re quicker than traditional transfers.
Many people don’t realize it, but ACH, or Automated Clearing House, transfers are part of everyday life. They are how your paychecks are processed through direct deposit, used for debits for routine payments and much more.
Understanding ACH transfers and payments will give you a better understanding of how your money is handled. This is advantageous because it can help you avoid missed payments, late payments, and fees by knowing when you can expect money in your account.
This guide will explain what ACH transfers are and how they work as well as their benefits and drawbacks.
Key takeaways:
Money moved electronically through the Automated Clearing House are known as ACH transfers
ACH transfers are used for direct deposits for paychecks and for government benefit programs
ACH direct payments are for paying bills or sending money through apps like Zelle and Venmo
ACH transfers typically take one to three business days
In some cases, ACH transfers limit the amount you can transfer as well as how often
In This Piece:
What Is an ACH Transfer?
ACH transfers are a form of electronic fund transfers that move money between banks. Electronic funds transfers are when you move money in a non-physical way. For example, when your employer directly deposits money into your bank account rather than giving you a physical check or when you PayPal a friend, these are electronic transfers.
ACH stands for Automated Clearing House, and a clearing house is an establishment that acts as a go-between for banks to finalize a transaction.
ACH transfers can be used for the following:
Bill payments
Direct deposits from employers
Direct deposits from government benefit programs
External funds transfers
Person-to-person payments
Business-to-business payments
You may use ACH payments and transfers regularly without realizing it. Popular payment apps like Zelle, Venmo, and PayPal use the ACH network to send and receive money.
How Does an ACH Transfer Work?
If you want to make an ACH transfer, it’s a simple process as long as you follow these steps:
Step one: Similar to paying with a check or receiving a check, you’ll need the name, account number, routing number, account type, and amount.
Step two: Choose whether you want to do an ACH credit or ACH debit. ACH credits are often safer because your bank account details are hidden.
Step three: Finalize the transfer by linking your accounts and providing the details of the transaction.
If you’re a business owner, you’ll need to set up a way to receive ACH payments from your customers. There are a variety of digital companies that provide this service like Stripe and Plaid.
Types of ACH Transfers
There are two primary types of ACH transfers, and these have become a more convenient way of transferring money than the days of waiting for a check to clear. With the two types of ACH transfers, you no longer have to worry about bounced checks. However, you may still incur fees if you don’t have sufficient funds to cover the transaction.
ACH Direct Deposits
These ACH transfers are used by businesses and government programs to get people money faster. Prior to using the ACH network, you would need to receive a check, take it to the bank, deposit it, and wait for it to clear. ACH direct deposits are a way for you to receive payments, and some of the most common forms include:
Tax refunds
Government program payments
Annuity payments
Paychecks
Employer reimbursements
ACH Direct Payments
The other type of ACH transfer is direct payments, and this is when you’re sending money to someone else. When you use one of the payment apps to loan a friend money or split the dinner bill, you’re using ACH direct payments.
When you make an ACH direct payment, you’ll see the money debited from your bank account, and the receiver will see a credit in theirs. If the app connects to your bank account, debit card, or credit card, you’ll see the funds transferred via the app, but the app will have more details for your own tracking purposes. You can often include a note in these apps to note what the payment was for.
How Long Do ACH Transfers Take?
ACH transfers can take a few hours or up to two to three business days. The National Automated Clearing House Association (NACHA) sets the rules and guidelines for ACH transfers and has the following requirements:
Credit transfers can be processed on the same business day or between one and two business days
Debit transfers must be processed by the following business day
Although banks must adhere to these guidelines for processing payments, it’s at their discretion whether or not they charge for expediting the process. For example, when you’re sending money through PayPal and other services, they may have an option to send the money faster for a fee.
How much Do ACH Transfers Cost?
Depending on the bank or financial institution, there may be a fee for sending money to an account at a different bank using an ACH credit transfer. These are known as “external funds transfers,” and the cost can range from $0-50.
ACH debit transfers are the types of transfers that employers use for direct deposit as well as bill payments. These types of ACH transfers are usually free unless you need to expedite the payment.
External ACH Transfer Fees
As mentioned above, the cost for external transfers can vary between banks. Below, we’ve provided the fees and delivery times from some of the most used banks in America.
Bank
Fee
Approximate delivery time
Axos Bank
$0
3 to 5 business days
Bank of America
$3 from account and $0 to account
3 business days or $10 fee for next day
Capital One 360 Bank
$0
2 business days
Chase
$0
1 to 2 business days
Citibank
$0
3 business days or an option for free next-day delivery
Discover Bank
$0
1 to 4 business days
Navy Federal Credit Union
$0
2 to 3 business days
TD Bank
$0
1 to 3 business days
U.S. Bank
$0 to account and $3 from account
2 to 3 business days and free next-day for incoming transfers
Wells Fargo
$0
3 business days for incoming transfers and 2 business days for outgoing transfers
Each of these delivery times are based on the disclosures and general policies of each financial institution when using their online banking for personal accounts. It’s helpful to remember that delays can occur if there is a holding period or payment is sent after the bank’s cutoff time.
What Are the Pros and Cons of ACH Transfers?
Similar to many financial tools, there are benefits as well as downsides.
There are many reasons ACH transfers are so popular, and here are some of the advantages:
You can use ACH payments to pay bills electronically rather than writing and mailing a check
ACH direct deposits are more secure
NACHA requires that transfers happen within one to two business days
ACH transfers are often free or just a few dollars to expedite
There are also some downsides to keep in mind when using ACH transfers to receive or send payments:
Some banks limit how many transfers you can make or how much money you can move
Penalties may occur with too many transfers using savings accounts governed by Federal Reserve Board Regulation D
Banks have cutoff times for processing ACH transfers, so they may take longer if you miss the cutoff
There are fees if you have insufficient funds in your account
What’s the Difference between ACH Transfers and Wire Transfers?
The primary difference between wire and ACH transfers is that wire transfers are much faster. When wiring money within the same country, the transfer can take a few hours or as quick as a few minutes.
While wire transfers can be much faster, they also cost more. Many ACH transfers don’t have a charge, but a wire transfer may cost $20 or $30. When sending money internationally, the fee might be even more. Wire transfers are usually the better option if you need to move money quickly and can afford the fees.
How to Make ACH Transfers Faster
ACH transfers can take up to three business days, but there are a few ways you can make these transfers faster:
Use payment apps: Apps like Zelle and others link directly with your bank, can send money in real-time and don’t charge additional fees for same-day payment.
Know the cutoff times: Banks have cutoff times for transfers, so you can avoid a payment taking longer than expected by knowing how late you can make these transfers.
Pay the fees for expedited transfers: Some banks have the option to send the money faster for an additional fee. This fee varies by bank.
Can ACH Transfers Hurt My Credit Score?
ACH transactions can’t hurt your credit score directly, but it is possible to acquire fees from your bank. Unpaid bank fees can be sent to collections, and then the derogatory mark can show up on your credit report and hurt your credit score.
One of the best ways to avoid hurting your credit score is to have credit monitoring so you’re notified as soon as there’s a change to your score. Credit.com’s ExtraCredit service provides credit monitoring for a monthly fee so you know when something happens or a potential error was reported. If you’re unsure of your credit health, Credit.com offers a free service as well. You can get your free credit report card here.
You’re on the apartment hunt and know you want something on the smaller side. It’s just going to be you, or you and your significant other, so one bedroom is all you’ll need. You start looking around. You see some great one-bedroom places, but they’re a little on the expensive side. Then, you see your first studio apartment. It’s a little different as far as layout goes, but the price looks good and you could make this work … maybe.
It’s not an uncommon debate to have, studio vs. one-bedroom apartment when looking for a new home that’s the right fit for your lifestyle. Before deciding which one is right for you, it’s good to understand how each place is different.
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What is a studio apartment?
Unlike an apartment with bedrooms, a studio is going for a more compact design. “A studio apartment is basically a self-contained unit and houses everything in the single room space except the bathroom,” says Stefan from homedit.
With a studio apartment, you’re getting some variation of a single large room with attached kitchen or kitchenette, and a separate bathroom. It’s a limited area to work with if you want to create the feeling of separate rooms without walls to break up the space. Your design strategies and furniture placement can help establish defined space. You can make it clear which part of your studio is for sleeping, eating or hanging out with friends.
Studio apartments usually max out at a total of 600 square feet but can get as small as 300 square feet. The smaller the space, the more creative you’ll become in finding storage and places for all your things.
Rental prices for a studio apartment, according to the Apartment Guide 2019 Annual Rent Report, average around $1,065 a month. However, which part of the country you call home directly affects this number.
What is a 1-bedroom apartment?
There’s one essential difference between a studio and one-bedroom apartment, and that’s the bedroom. You also get a few more walls and a distinct separation of spaces. There’s a clear division between your living room, bedroom and kitchen. You may also have a few more closets and a dining space.
Square footage in a one-bed has a decent range. Smaller one-bedrooms can equal the size of a large studio. Even with the same square footage, a one-bedroom can end up feeling larger since you’re not looking at all your space in a single area.
One-bedrooms often have a monthly rent that’s a little higher, averaging around $1,140.
Studio vs. 1-bedroom: Factors to consider when selecting your apartment
Understanding the benefits of living in both a studio and a one-bedroom apartment can help you decide which option is best for your next home. The two biggest differences between your options are the obvious ones — size and price.
Not only will you pay more for rent, on average, for a one-bedroom, but utilities will cost more. You’ll have more space to heat or cool. There’s also more rooms with more lights, and more outlets to suck up electricity. When budgeting for a one-bedroom, it’s helpful to take into account your monthly costs of living on top of the rent. You can ask the property owner of the apartment you’re considering to get estimates on utility costs.
The difference in size can mean a little or a lot more room, but it’s really all about what space you need to feel comfortable at home. Some people do better in a more cozy home, while others need room to stretch out.
Beyond the cost and the square footage, there are a few other ways studios and one-bedrooms compare. These key areas should also get factored into your apartment selection.
1. Privacy
In a studio, where you sleep is also where you eat, work and hang out. A one-bedroom gives you the dedicated space of both a bedroom and a living area. It offers more privacy overall because there’s a door to close between rooms. This is especially important if you have friends or family visiting, crashing on the couch or if you need some time away from your live-in significant other.
If you live alone and don’t use your apartment as a place for social gatherings, you may get all the privacy you need in a single room. Without guests sitting on your bed, because there’s nowhere else to sit, you can retain the privacy of your sleeping space without needing a separate room.
2. In-unit amenities
With the extra size of many one-bedroom apartments, there’s the potential for amenities that couldn’t fit in a studio. Your one-bedroom could have in-unit laundry hookups, more than one sizable closet, full-sized appliances and more storage in general. These are great amenities, but not necessary.
The laundry room in your apartment building could be nice enough that you won’t miss having laundry in your studio. Maybe you prefer to send your laundry out so don’t care if there are machines in your apartment or your building. Having a smaller refrigerator is fine while you’re living on your own, so the space-saving appliance in your studio is great.
Amenities, by definition, are bonus items in your home, and many people have different must-haves.
3. Lifestyle
How you like to live can impact what kind of apartment you’ll need. If you like to have friends over for potluck dinners, watch a favorite TV show or sample some wine at a happy hour, you may need an entertainer’s amount of space.
If you’re planning on living alone or with a significant other you’re very comfortable with, you might not feel compelled to have as big of a place. The important thing is to find an apartment with enough space to allow you to keep being you.
The space you need also relates to your professional lifestyle. If you have a job where you’re always traveling and are never home, why get a big place to sit empty? Having a studio that’s compact and easy to care for might be the right step for your lifestyle. If you work from home, it might be more comfortable setting up a desk in its own space and not on top of everything else.
4. Location
The price will once again impact your apartment decision when it comes to apartment location. If you want to live close to a city center or right near work, you can end up in an area of town where the property is more expensive. It might not be affordable to have a one-bedroom, but studio prices could be low enough to get you into your ideal location.
On the flip side, if you want a bigger space and can handle living outside of town, you may find an affordable deal on a one-bedroom right outside the city. According to Forbes, rent can be 31 percent cheaper if you’re living outside of an urban area. You’ll need to factor in the cost of commuting back into the city for work, but you can still come out ahead with the right apartment.
5. Studio vs apartment upkeep
Both decorating and cleaning are easier when you have less space. It’s faster to clean a studio apartment. There are also fewer walls to decorate. That said, the smaller space can lend itself to more clutter since you’re without a lot of storage options. Either way, you’re going to have to clean a bathroom, and nobody likes doing that.
Is a studio or one-bedroom better?
There’s actually no simple answer to this debate since the better place for you revolves around your own needs and budget.
“Deciding where to live is a choice that impacts your lifestyle in many ways. Take the time to compare the cost of living and determine what’s best for you,” says Roger Wohlner from KeyBank. This is sound advice to keep in mind as you consider the pros and cons between studios and one-bedroom apartments.
Looking to know where to cash coins for free near you? Saving coins can be a great way to save money without even noticing it. However, when you end up with a jar full of loose change, finding an easy way to cash in your coins without paying a fee can feel like a challenge….
Looking to know where to cash coins for free near you?
Saving coins can be a great way to save money without even noticing it. However, when you end up with a jar full of loose change, finding an easy way to cash in your coins without paying a fee can feel like a challenge. Places that have free coin cashing services do exist, so you can enjoy the full value of the money that you have saved.
In this article, I will be talking about places where you can exchange your coins for free near you. We’ll also discuss the pros and cons of using Coinstar machines and tips on how to find coin exchanges in your area. Rolling coins might be an option for you too, and I will explain how to wrap coins as well.
Key Takeaways
Several places will cash coins without charging a fee.
Local banks and credit unions are a great choice for coin exchange.
Coinstar machines are a popular option but may come with a fee. They do have many no fee e-gift cards, though.
Rolling your coins and using free services from banks can save you money.
9 Places To Cash Coins For Free (Or Cheap!)
Finding the right place to exchange your coins can make a big difference. It’s not just about convenience, it’s about keeping more of your money too. Many people hoard coins without realizing the actual value. Dumping your coins into the first machine you see can cost you.
Did you know that some coin exchange machines charge up to 11.9% to convert your change into cash? If you have $100 in coins, that’s nearly $12 lost. It might not seem like much initially, but imagine losing $12 for every $100 in coins you have.
That’s why it’s important to choose the best place to convert your coins into cash. Below are the best places to cash coins for free near you.
1. Wells Fargo
Wells Fargo is a popular bank that allows you to cash your coins for free if you are a customer. You can visit your local branch and ask the teller for help with processing your coins to get cash in return.
2. Credit unions
Credit unions are similar to banks and also have coin exchange services for their members at no additional cost. There are some credit unions that don’t charge for nonmembers as well, so you may be able to call around and see if there is one near you that can exchange your coins for cash for you.
3. Bank of America
As one of the largest banks in the United States, Bank of America allows its customers to cash coins for free. They do require that your coins be rolled, so you will have to remember to do that first.
4. Chase
Chase is another popular banking institution where you can cash your coins without any extra fees. However, you need to be a Chase customer to access this service. Before you go, though, make sure to check Chase’s branch location to make sure that they accept coins as there are some locations that do not.
5. US Bank
If you have an account with U.S. Bank, you can cash your coins free of charge. Just bring your coins and account details to the branch, and their staff can help you. You don’t even need to roll your coins either.
6. QuikTrip
QuikTrip is a convenience store and gas station chain that often allows you to cash your coins for free. Depending on the location, QuikTrip may or may not charge service fees for coin exchanges. QuikTrip’s coin exchange program is a great option for those who need to cash coins quickly without the hassle of becoming a bank member.
They do this because there is a shortage of coins, and they are in need of coins. I do recommend rolling them ahead of time so that you are saving everyone time.
7. Target
Target stores with Coinstar machines allow you to cash your coins for a fee (generally 11.9% or more). Coinstar machines are convenient and can be found in many places.
8. Citi Bank
As a large financial institution, Citibank also permits its customers to cash coins for free. Visit your local branch with your account details and coins, and their staff will help you with converting your coins into cash.
9. Coinstar coin counting machines
I wanted Coinstar to have its own section in this article because it is so well-known as a coin counting machine. Whether you have just some loose change or if you have a busting piggy bank, Coinstar does make it easy.
Below, I will be diving further into Coinstar. And, yes, there is a way to use these coin counting machines near you for free.
What is Coinstar?
Coinstar is a service that has coin counting machines, commonly found in grocery stores, retailers, and more. These kiosks make it easy for you to convert loose change into cash, gift cards, or even donate to charity.
Charity options include the American Red Cross, Children’s Miracle Network Hospitals, Make-A-Wish, NAACP, The Humane Society of the United States, United Nations Children’s Fund (UNICEF), and more.
How to find Coinstar machines
To locate a Coinstar kiosk near you, simply use Google Maps or visit Coinstar’s website and access their Coinstar Kiosk Locator. I used their locator and I found 30 Coinstar machines within just around 30 minutes of me – so there are probably a few coin counting machines near you as well!
There are Coinstar coin sorter machines at Walmart, Safeway, CVS, Winn-Dixie, local credit unions, Target, and more.
Coinstar fees
While it’s convenient to use Coinstar to count and exchange your coins, it’s important to know of the fees associated with cashing in your change when using their machines. Coinstar charges an 11.9% coin processing fee when you convert your coins into cash.
How do I avoid Coinstar fees?
There is a way to cash in your coins at a Coinstar counting machine for free.
If you choose an e-gift card option instead of cash, coin counting is free at most locations in the United States. With a wide variety of eGift Card options from popular stores and restaurants, you can avoid the fees while still benefiting from your collected coins. Some of the places where you can get Coinstar gift cards include AMC Movie Theaters, Amazon, Apple, Cabela’s, Dominos, DoorDash, Lowe’s, Starbucks, Chili’s, Nike, GameStop, Applebee’s, Outback Steakhouse, and more.
How does Coinstar work?
Cashing in your coins is easy with Coinstar. You simply:
Find a Coinstar coin machine near you.
Put your coins into the machine.
Choose to get cash (which has around an 11.9% fee), receive a no-fee gift card, or give a charity donation.
Check the return tray for any coins that were rejected.
Receive your payment. If you chose cash, then you will receive a voucher that you will need to redeem, and you should redeem it on the same day. If you chose a gift card, you can use the unique code printed at the top of the voucher anytime to redeem your gift card.
How to roll coins
If you want to turn your coins into cash, then you may want to learn how to roll coins.
Rolling coins can be an easy way to organize and store your loose change, making it easier to cash them in for free at banks or credit unions. This can help you save on any fees that might be charged by coin counting machines.
First, gather all the coins you’d like to roll. Separate them by denomination (pennies, nickels, dimes, quarters) to make the process easier. Next, you’ll need coin rolls, which are paper or plastic tubes designed to hold a specific number of coins. You can often find these at your local bank or credit union, or buy coin wrappers online on Amazon. These rolls not only help you keep track of your savings but also make it easier for places to accept your coins.
Once you have your coin rolls, start filling them with the appropriate coins. Be sure to use the correct roll for each denomination, as follows:
Pennies: 50 per roll
Nickels: 40 per roll
Dimes: 50 per roll
Quarters: 40 per roll
After filling the rolls, fold or twist the open ends to secure the coins inside. It’s important to have the correct number of coins in each roll to have accurate counting when you take them to the bank.
Now that your coins are rolled, you can cash them in for free at various locations. Banks and credit unions are often the best places to exchange coins, especially if you’re an account holder. It’s always a good idea to call ahead and confirm that they accept rolled coins. Some institutions may have specific requirements for accepting rolled coins, such as labeling the rolls with your account number or providing a deposit slip.
In addition, some stores or gas stations might cash coins for free during a coin shortage, like QuikTrip. Be sure to keep an eye out for such opportunities in your area.
By taking the time to roll your coins, you’re not only organizing your spare change but also potentially improving your overall savings. Rolling coins is a simple process that can provide a great way to turn your loose coins into cash without any additional fees.
Frequently Asked Questions About Where To Cash Coins For Free
Below are answers to common questions about where to cash coins for free.
Where can I cash in coins for free?
You can cash in coins for free at several banks, credit unions, and some stores. Banks like Bank of America, Wells Fargo, and U.S. Bank are known to have this service. Additionally, some credit unions (like American Eagle Federal Credit Union and Westerra Credit Union) and QuikTrip stores also have free coin exchanges.
Where can I find a free coin counting machine?
Free coin counting machines can be found at certain banks and credit unions, as well as some stores like QuikTrip.
Do all banks cash coins for free?
Not all banks have free coin-cashing services, and this service depends on the bank and whether or not you hold an account with them. Some banks may charge noncustomers a fee for coin-cashing services while providing the same for their customers free of cost.
Which banks offer free coin exchange services?
Banks that have free coin exchange services include Bank of America, Wells Fargo, U.S. Bank, Citibank, Capital One, Chase, Citizens Bank, PNC Bank, TD Bank, and more. Credit unions can also be a great option for exchanging coins without a fee.
Are coin sorting and counting machines accurate?
Yes, most coin sorting and counting machines are accurate. However, like all machines, there may be a margin of error, and the accuracy can also largely depend on the specific machine and its maintenance.
Are there any alternatives to Coinstar for cashing in coins?
Yes, there are alternatives to Coinstar for cashing in coins. Going to a bank, credit union, or QuikTrip store can be a better option, as many have free coin counting machines and exchanges, but you should always call ahead to make sure they will change your coins into cash.
How much does Coinstar take out of $100?
Coinstar charges a fee of around 11.9% for cashing in your coins. So, if you cash in $100 worth of coins, Coinstar would take about $11.90, leaving you with $88.10 in cash.
Does Walmart have free coin exchange services?
Walmart doesn’t have free coin exchange services themselves, but some locations have Coinstar coin counter machines. Keep in mind that Coinstar charges a fee, but you can avoid this by choosing a gift card option instead.
Are there any free coin deposit options at Bank of America?
Bank of America has free coin deposit options for its customers. However, you should call your local branch beforehand to make sure they have a coin counting machine available, as not all locations may provide this service.
How To Find Free Coin Counting Machines Near You – Summary
I hope you enjoyed this article on how to find the best places to cash coins for free.
Finding free coin counting machines near you can help you turn your loose change into cash or even gift cards without any additional fees. The best places to turn your coins into cash include:
Local banks and credit unions – Many banks and credit unions have free coin counting services for their customers.
QuikTrip gas stations – QuikTrip has gas stations across 11 states, with 800 locations in total. Some of these locations have free coin counting and exchange services to make up for the coin shortage. You can check the availability of coin counting machines at your local QuikTrip by giving a location a call.
Retailers with coin counting machines – Some stores have coin counting machines that can be used for free or for a very low fee.
As you look for free coin counting machines near you, remember to give them a call first. The fees or services will vary so you will want to check with them directly first.
When was the last time you turned your coins into cash?
Adjustable-rate mortgages (ARMs) have gained popularity as interest rates have risen.
ARMs carry slightly lower rates than fixed-rate mortgages.
If you expect rates to fall, or plan to move before the initial fixed-rate period expires, getting an ARM can make sense.
With mortgage rates trending up and home prices still climbing, more borrowers are looking to adjustable-rate mortgages. This type of mortgage can be a more affordable means to get into a home, especially as higher rates on fixed mortgages begin to price some borrowers out — but is it worth the risk? Here’s how to know if you should get an adjustable-rate mortgage.
Why ARMs are popular right now
Adjustable-rate mortgages, or ARMs, come with lower fixed interest rates for an initial period, after which the rate moves up or down at regular intervals for the remainder of the loan’s term.
At the beginning of 2022, very few borrowers were bothering with ARMs — they accounted for just 3.1 percent of all mortgage applications in January, according to the Mortgage Bankers Association (MBA).
Fast-forward to September 2022, and that figure tripled to more than 9 percent. (Intriguingly, the share of ARMs hasn’t changed much over the past year — ARMs accounted for 8.8 percent of new mortgages the week of Nov. 15, 2023, MBA reports.)
The surge is directly related to the rise in fixed mortgage rates, which have rapidly gone up past 6 percent, a range not seen since 2008. With less purchasing power at higher fixed rates, the lower introductory rates attached to ARMs have started to look much more appealing:
“Given still-high home prices and this rising rate environment, potential homebuyers are finding ways to reduce their monthly payments and view ARMs as more attractive given the widening spread between rates for ARM and fixed-rate loans,” says Joel Kan, vice president of Economic and Industry Forecasting at MBA.
Still, ARM volume isn’t likely to set records this time around. In mid-2005, ARMs represented nearly 45 percent of mortgages originated, according to CoreLogic. (Those teaser rates were part of the lead-up to the housing bubble). Since 2009, they’ve accounted for only as much as 18 percent of originations, and as little as 8 percent.
Is an ARM loan a good idea right now?
An ARM is essentially a bet on the future of mortgage rates. If you think mortgage rates will be lower in a few years, an ARM can let you cash in by allowing your rate to move lower once the fixed-rate period ends. Many housing economists expect mortgage rates to fall in the coming months. For instance, Lawrence Yun, chief economist at the National Association of Realtors, predicted in mid-November that mortgage rates would be below 7 percent by the spring of 2024. If he’s right, taking an ARM now might be a good move.
However, even adjustable-rate mortgages carry fixed rates for a few years, so it doesn’t matter to you what rates do six months from now. It’s all about where rates are when your fixed-rate period ends, typically in three, five or seven years — and predicting rates that far into the future is quite difficult.
Another caveat: An ARM shifts the risk of interest rates from the lender to the borrower. If rates go down, you win. If rates go up, you lose. Because you’re taking on uncertainty with an ARM, the rates are lower.
Mortgage
As of Bankrate’s Nov. 15 survey, the reward for taking an ARM was small. The average rate on a 5/6 ARM was 7.47 percent, compared to 7.66 percent for a 30-year fixed-rate loan.
Who is an adjustable-rate mortgage best for?
A lower monthly mortgage payment sounds like a no-brainer, but ARMs are risky, and they’re not a fit for every borrower. As you weigh the pros and cons, here are some situations when an ARM is a good idea:
You’re not buying your forever home. ARMs typically have fixed-rate introductory periods of three, five, seven or 10 years, so they “can make sense for a borrower with plans for a shorter time frame in their new home of five to 10 years, where they would likely sell before their rate resets,” says Kan.
You’re comfortable with the risk. If you’re set on buying a home now with a lower payment to start, you might simply be willing to accept the risk that your rate and payments could rise down the line, whether or not you plan to move. “A borrower might perceive that the monthly savings between the ARM and fixed-rates is worth the risk of a future increase in rate,” says Pete Boomer, executive vice president at Guaranteed Rate, a mortgage company based in Chicago, Illinois.
You’re borrowing a jumbo loan. Borrowers taking out bigger loans tend to go for ARMs. As of March 2022, 37 percent of originations above $1 million were ARMs, according to CoreLogic.
You’re able to make extra payments in the introductory period. If you have room in your budget to pay extra toward the loan principal during the initial rate period, a lower-rate ARM can help you maximize those interest savings. (Bankrate’s additional mortgage payment calculator can help you weigh different scenarios.)
The risks of ARMs
While ARMs have staged a comeback in today’s rising rate environment, it can be more difficult to qualify for one compared to a fixed-rate mortgage. That’s because you’ll need a higher down payment of at least 5 percent, versus 3 percent for a conventional fixed-rate loan.
There’s also the need to verify that your current financial situation allows for a higher payment down the road — even if you plan to move before the lower-rate period ends.
“Most ARM loans now are underwritten based on the highest payment expected on the loan to ensure the borrower can handle the payment shock from a rate increase,” says Kan. “Many other factors come into play, such as rates over the longer five- to 10-year horizon, the borrowers’ income and employment situation, housing market conditions that impact their ability to refinance or sell (if necessary) when their fixed period expires and more.”
That “if necessary” piece underscores the primary risk with ARMs: It’s impossible to predict the future. What if you’re nearing the end of the introductory period and lose your job? What if your plan to sell the home gets derailed by a market downturn? Nothing in life is certain, so if you need a stable monthly payment — or simply can’t tolerate any level of risk — it’s best to go with a fixed-rate mortgage, despite the expense.
Types of ARMs to consider
If you qualify for an ARM and plan to get one, you’ll have a few options. The 5/1 ARM is the most common type of adjustable-rate mortgage. With this ARM, you’ll have the same interest rate and principal and interest payments for the first five years. After that, the “1” comes into play: Every year, your interest rate will adjust up or down based on the current market.
In addition to 5/1 ARMs, 5/6 ARMs are becoming more popular. With this type of loan, you’ll still get the five-year introductory rate, but the interest rate resets more frequently: every six months.
There are other types of ARMs as well, including:
3/1 or 3/6 ARM – You’ll have an introductory rate for three years, followed by annual or six-month rate resets. Since you’re only getting the fixed rate for a short time, that rate might be the lowest ARM rate you find. 3/1 ARMs aren’t as common as other kinds of ARMs, however.
7/1 or 7/6 ARM – You’ll have a fixed rate for seven years, then pay a new rate (either higher or lower) every year or six months.
10/1 or 10/6 ARM – A 10/1 or 10/6 ARM has the longest period of stability: a full decade of fixed-rate, predictable payments, followed by annual or six-month adjustments. Since you’re getting 10 years of the same payments, the introductory rate usually isn’t as competitive as rates on shorter ARMs.
Most ARMs have caps on how much the rate can increase in one year (or whatever the interval is), along with a lifetime cap that limits the amount it can increase throughout the loan’s term. You can use Bankrate’s adjustable-rate mortgage calculator to estimate whether you’d be able to shoulder the largest possible monthly payment based on your lifetime cap.