Credit cards play a vital role in building credit scores and creditworthiness. In addition, it earns you redeemable points, cashback, or miles. We all know how to swipe, tab, or dip the plastic money to pay for daily purchases, but how do credit cards work?
Knowing the credit card types and how they function help you become a responsible consumer. It’ll help you understand their purpose, maximize benefits and avoid debts and financial ruin.
What Is a Credit Card?
A credit card is the purchasing power of an individual, stored in plastic, metal, or digital card. It offers a revolving line of credit for making purchases. The issuer requires at least a minimum, if not total, payment on the card balance in each billing cycle. You’ll pay a fee based on the Annual Percentage Rate (APR) for carrying the balance to the next month.
Credit cards come with a ceiling on the line of credit, which limits your total purchasing power; hence are called a credit limit. Your monthly statement shows expense details and the balance you owe. As you pay off your balance, it releases your available credit.
In addition to providing a monthly interest-free loan, credit cards also offer rewards and benefits for you and your family. You can redeem points to cash or check or use it to buy gift cards. You’ll earn points as you utilize the card for payments.
You can use a credit card to make purchases, balance transfers, and cash advances. However, it would be best to refrain from withdrawing cash from a credit card. Any money taken out of the credit card as cash advances will start accruing hefty interest immediately.
How Do Credit Cards Work?
What seems like a simple purchase decision when you pay using a credit card undergoes a complex process. It involves a customer, his/ her issuing bank, Merchant, and the acquiring bank, along with a payment processor and payment network.
So, how do credit cards work exactly?
Regardless of whether you slide the magnetic strip against the card reader, insert a chip-enabled card or go contactless, the card reader receives your information and sends it to the Merchant’s bank. Merchant’s bank then requests payment authorization from the credit card issuer. Once authorized, the issuing bank sends the money through the payment network to the Merchant’s bank. The multi-step process happens seamlessly at lightning speed in the background.
How Different Types of Credit Cards Work
Besides big banks like Bank of America, Capital One, Citi, and Wells Fargo, many other banks and credit unions issue credit cards. Various products are available based on consumer types, credit history, reward structure, card network, and many other features. And hence, they function slightly differently, although they are generally the same.
How Do Secured Credit Cards Work?
Secured credit cards work like debit cards, where your credit limit depends on your security deposit. The security deposit acts as collateral for the credit. The card issuer will keep the security deposit if you stop paying your monthly balance.
You apply for secured credit cards just like any traditional credit card. Once approved, you must deposit cash as a security to use the card for purchases. And your credit limit is usually equal to the security deposit amount.
Secured credit cards are best for people that are building or improving their credit history. Banks and credit unions base their credit approval decision on the applicant’s income, credit risk, and history.
How Do Cashback Credit Cards Work?
Cashback credit cards provide cash back on every qualifying purchase. The credit card issuer determines the amount of cashback and qualifying purchases. Depending on the card, a general cashback ranges from 1% to 2%.
Credit cards may also offer bonus cash back at a higher rate in specific purchase categories with or without activation requirements. The final Cashbacks show up in your account at the end of every billing cycle.
Cashback credit cards usually have a higher Annual Percentage Rate (APR) and a potential annual cap on bonus cash back. Most bonus cashback requires enrollment requirements.
How Do Co-Branded Credit Cards Work?
Co-branded credit cards work similarly to traditional credit cards that banks or financial institutions offer. Besides regular cashback, miles, or points, they’ll have additional perks on purchases at the co-branded merchants. The co-branded card can be a hotel, an airline, or a store credit card.
Businesses offer co-branded credit cards to customers to maintain loyalty, grow, and save on interchange fees. The credit card issuing company has an opportunity to expand its customer base. And consumers unlock additional savings by being loyal to the brand. It’s a win-win for everyone.
How Do Travel Credit Cards Work?
Unlike cashback credit cards, travel credit cards offer points or miles for all eligible purchases. The accumulated miles or points can offset travel-related expenses through a statement credit. They can also pay directly for travel arrangements like flight tickets, hotels, or car rentals through the credit card website. The points/ miles are also redeemable as cash or gift cards but with less value.
Travel credit cards can be co-branded cards like Delta SkyMiles credit cards, Hilton Honor credit cards, or unsecured cards offering travel benefits. Banks and financial institutions like Chase, CapitalOne, and American Express offer travel credit cards.
If you are a frequent traveler, premium travel credit cards offer the most benefits. They come with an annual fee, but the credit card benefits and savings are worth more than the fee. Some of the premium travel card benefits are:
No Foreign Transaction
Most premium credit cards don’t have a foreign transaction fee, meaning you don’t pay any costs if you swipe out of the United States. If you frequently travel internationally and use credit cards for payment, the foreign transaction fee alone can add up. Not having to worry about transaction fees saves money and headache.
Huge Signup Bonus
Premium credit cards have a high signup bonus. You only have to meet their minimum expenses requirements within the set time frame, usually two to three months. For example, the Capital one Venture card offers 75k if you spend 4k in 3 months. It is equivalent to $750 in points. It’s a sweet deal for a card with a $95 annual fee.
Travel Insurance
Everybody gets excited about their favorite travel plans and their joyous arrangements. Something going wrong on a trip is the last thing on our checklist. That’s where a credit card with travel insurance benefits can protect you against any unexpected events.
When you use a premium travel credit card to pay for your eligible travel expenses, they provide travel accident insurance, trip cancellation and interruption protection, delay reimbursement, rental car coverage, and many other benefits.
Lounge Access
Lounge access is one of the best premium travel credit cards. Most people dream of getting inside this private area which is accessible either through membership or buying your way in. Some premium travel credit cards offer a free priority pass select membership that gives you free access to the airport lounge. A few of the selected premium cards also offer multiple guests entry along with the cardholder.
TSA Precheck/ Global Entry Credit
TSA Precheck and global entry help you skip the busy airport lines and enter the terminal hassle free. It requires a detailed background check and an interview with the U.S. Customs and Border Protection(CBP) officer but once approved, you can skip the processing lines and paperwork. You can say goodbye to removing your belts, shoes, and electronic devices and quickly pass through security.
Transferable Reward Points
Most premium credit cards offer transferable reward points to hotels and airline loyalty programs. These cards have partner programs, and you can find the complete list on the card issuer’s website. The point transfer may not be 1:1, but sometimes, it’s cheaper to use points than booking through cash or card directly.
The Bottom Line
If you use credit cards responsibly, they work in your favor. The cards are slightly over 3 inches by 2 inches in size and can fit into your pocket. With virtual cards, you don’t even need to carry them. You can store them in your phone’s digital wallet. They are very convenient compared to carrying large sums of dollar bills.
Credit cards work as a revolving line of credit. You can make a purchase even though you don’t have the money upfront. And you’ll also earn rewards for using it. You just have to make sure to pay it off by the due date.This article originally appeared on Savoteur.
Is your current credit card balance less than $5,589? If so, you’re carrying a below-average amount of debt.
But no matter your balance, now is a great time to get started paying down that debt. With interest rates on the rise, outstanding credit card balances could start to have an even greater impact on your personal finances. The U.S. clocked a collective $824.8 billion in credit card debt in the first quarter (Q1) of 2022, according to Experian.
Debt can function as both a helpful tool and a burden for consumers. When used strategically, credit cards allow individuals and small businesses to responsibly make purchases that they otherwise might not be able to afford. Understanding how to stay on top of payments can help you build your credit history and make credit card debt manageable. An added bonus: Learning the ins and outs of credit card perks can offer you benefits like cashback, travel miles, and 0% introductory interest rates.
For some Americans, the past year of rising prices has forced greater reliance on credit cards to cover common expenses. In Q4 2021, the Federal Reserve Bank of New York reported the highest quarterly increase of credit card debt in its 22-year history of collecting this data. But when preparing for an economic downturn, like the one forecast to soon impact the U.S. economy, financial experts recommend paying down as much debt as possible.
Experian compiled this list of ways credit card debt can impact your life, and analyzed how credit card debt varies by state using data collected from account holders from across the country.
Basics of credit card debt
When a credit card is issued, it comes with a maximum allowed amount of debt, also known as a credit limit. The cardholder can swipe the credit card anywhere that accepts it and charge purchases up to the limit they’re approved for.
Each month, credit cards require a minimum amount to be paid toward the total debt. Paying off your credit card in full every month is considered good practice and helps you avoid paying interest.
But not everybody wants to, or is able to, pay off their credit card debt in full every month. If a cardholder only pays the minimum amount, they begin to accrue interest the following month on the remaining balance. If the cardholder doesn’t pay the minimum amount, they risk an increase in interest rates or having late fees tacked on to their accounts.
How does APR work?
APR—or annual percentage rate—is an additional cost a consumer pays each year for the privilege of borrowing a set amount of money, calculated as a percentage of the loan amount.
When you carry credit card debt from one month to the next, the APR determines how much additional interest is added to your balance to be paid. With credit cards, APR and interest rate are terms that can be used interchangeably. With other forms of debt, however, APR accounts for fees and other costs in addition to the credit product’s interest rate.
Some credit card issuers offer 0% APR for a set period of time; for example, the first 12 months after opening a new line of credit. If you haven’t yet paid off your purchases or balance transfers by the end of this promotional APR period, you’ll be charged interest on any remaining balance.
When the Fed raises interest rates, like the historic 75 basis point increases announced in June and July 2022, banks often adjust their interest rates to match. And when borrowing money becomes more expensive for banks due to higher interest rates, consumers eventually see the costs passed on to them.
Impact of credit card debt on personal finances
A credit card is by no means “free money” as some jokingly refer to it. How you use your credit cards can have considerable implications for your personal finances now and in the future—for better or worse.
Whether you carry debt from month to month is one of the factors used to calculate your credit score. This score is meant to assess how risky it is to lend money to a borrower by evaluating how likely they are to miss a debt payment in the near future.
Consistently making on-time debt payments and keeping your credit card balances well within your limits are reliable ways to build or improve your credit score over time. On the other hand, late or missed credit card payments can bring down your score, which can flag you as a riskier borrower. That means lenders may charge higher interest rates on loans you want to take out in the future.
Average credit card debt per state
The District of Columbia and states of Alaska, Connecticut, New Jersey and Maryland are home to credit card holders with the most debt on average.
Meanwhile, residents of Iowa, Wisconsin, Kentucky, Mississippi and Idaho carried the least amount of credit card debt in the country. Some of the lowest average credit card debt balances are found in the Midwest, according to Experian data.
This story originally appeared on Experian and was produced and distributed in partnership with Stacker Studio.
Colleges focus on academics and test scores. However, there is a vast world and opportunities for young people to explore outside of a traditional college degree.
Even with financial aid, traditional colleges and universities can be out of reach for many. For some, it is within reach, but post-secondary education and the accompanying student loans may feel like it could be better.
Many people choose to pursue alternatives to college to get their careers started. Before you enroll in higher education, consider these options.
1. Find a Mentor
Sometimes the best way to get into an industry is to find a mentor. Mentors are people that have been in the career field for a while and have plenty to learn from. They can assist you in helping you learn the ropes and also can make connections and introductions for you.
Finding the right mentor can be a challenge but it is a great alternative to college. If they are an industry veteran, what value are you bringing to the table for them to spend their limited time helping someone get started? Unless they are already a family friend, there is likely little incentive for them to help you along. You can level this out by seeing if there is something they are struggling with that you could spend some time working on for them.
2. Embrace Alternative Education
College is one of many ways to learn a subject. You could, of course, choose a self-study route. You can become quite proficient by reading books and learning online about a subject.
You can also learn about a subject with the “University of Youtube.” Every subject matter has experts showing you step-by-step how to do a task on youtube. It is incredible the breadth of knowledge you can watch.
Online courses also can teach you what you need to know about a specific subject. These courses are usually straight to the point and show you what you need to know about a topic. These are typically light on theory and heavy on practicality.
If you are a lifelong learner, nontraditional education could be an excellent option for you. Professions where a bachelor’s degree is not highly stressed or are required credentials for a job, can lend themselves as alternatives to college.
3. Study Abroad
There are many study-abroad opportunities. In some instances, tuition is free and paid for by the respective governments. While technically, this one is going to college, it is not necessarily pursuing a degree. The life experience and time spent abroad may help you decide what study area is for you.
4. Travel
While not a direct career path, spending some time traveling after high school can help expand your worldview and help you focus on what direction you want to take. You are taking time through life to slow down and enjoy the scenery. While travel is not free, there are ways to travel on a budget.
5. Start a Business
You could go straight into business. When you think of starting a business, your mind might think about tech companies with ideas that will disrupt an industry or change the way we approach life altogether. These are only some of the businesses that exist; hundreds of practical service-based companies exist for every world-changing startup.
6. Start a YouTube Channel
Youtube is the second largest search engine on the internet. It is a vast platform with people searching for information on various topics. You can start a youtube channel to monetize this search for information.
Youtubers can make money from views of their videos, getting paid directly by Youtube and through sponsorships, where the Youtuber inserts ads and sponsored blurbs in the videos themselves. Once you create a Youtube channel, the primary objective is to grow your channel’s views.
7. Teach
While most teaching positions require a degree, there are opportunities to teach without a degree. One of these opportunities is teaching English to non-native speakers. A cool thing about this job is that it can be done in person or online, and there is a market for English teachers in just about every country outside the United States.
The cool thing about teaching English to non-native speakers is that you are not necessarily teaching the basics and rules of grammar. Usually, these courses are aimed at the students learning to talk with a more natural tone.
8. Become a Digital Nomad
Digital nomads work online and travel the world as they do it. If you can find a work-from-home position, start a business, or work freelance remotely, then being a digital nomad is an option.
Many digital nomads focus on traveling in lower-cost-of-living areas to save more money as they work.
9. Get an Internship
Internships are a great way to get some experience in the industry. You may have only some of the qualifications required to land a full-time position at a company, but they may take you on as an intern. After a few months, perhaps you have gained their trust and the experience necessary to get a position there.
10. Join the Military
The military career path can be completely separate from a college education. However, there are also paths in the military that focus on paying for a college education for you.
The military has plenty of different branches, jobs, and training options to find something that fits your needs.
11. Join an Accelerator
An accelerator is an organization that specializes in building businesses. Usually, accelerator programs offer a small amount of startup capital, mentorship, classes on getting your business off the ground, and valuable connections.
Most business accelerators are joined by invite after you apply. They are typically looking for certain aspects. For instance, an accelerator might focus on tech startups or founders that meet specific criteria.
12. Become a Realtor
Being a real estate agent is a career path that does not require a degree. However, most states have an education requirement for taking a course and passing a test. Most states also allow you to take the course online.
Realtors make a commission on the houses they sell or by representing a buyer through the sale of a property. It is a very performance-driven industry, and most real estate agents in any given market make small commissions. Usually, the top earners in a market make a lot of money, while the average experience is much different.
This is not to discourage you from becoming a real estate agent, but if you choose that path, take ownership of your success and work on becoming a top earner in your market.
13. Build a Digital Footprint – And an Audience
Becoming an influencer and getting paid by brands for sponsorship opportunities may sound out of reach. But, it is more attainable than you may think. The key is to hone in on a niche and build a following.
One key to building an online audience is publishing content consistently. Many platforms reward consistent publication, especially when this content is engaging and on brand.
14. Monetize Your Hobby
Gary Vaynerchuck, the author of Crush It!: Why NOW Is the Time to Cash In on Your Passion, is a huge proponent of finding what you love and monetizing it. Because of the scale of the internet, there are ways to monetize niche hobbies.
One nontraditional way to monetize your hobby is to build a product that will assist in the industry of your hobby. For example, I have a friend that created a tool to help writers capitalize the title of their headlines.
Sometimes being in the hobby allows you to be further ahead of the trend than some companies manufacturing products. You could use a contract manufacturing company to produce your solution.
15. Write a Book
Becoming an author and self-publishing a book can create some passive income. There are some side benefits to publishing a book. For one, you establish more credibility in your field by being an author in the space.
The easiest way to self-publish a book is through Kindle Direct Publishing on Amazon. Essentially, you write your book, upload it and attach a description on KDP, and you are ready to publish.
16. Earn Money Playing Video Games With Esports
Making money playing video games sounds like a dream to many people. While this world is highly competitive, there are options to win tournaments, build a Twitch following, and make money through sponsorships.
Of course, you either need top-tier skills or a winning personality that people enjoy following along. Possibly, both.
17. Do an Apprenticeship
An apprenticeship is an option to learn while earning money. For instance, an electrician’s apprentice typically spends most of their day pulling wire. You can also pick up on the more advanced concepts while apprenticing. Eventually, you become experienced enough to become a master electrician.
Finding an apprenticeship program is a great way to gain real-life work experience while getting an income. In addition, apprentices learn the technical skills required for their chosen career path.
18. Vocational Training
Rather than going to college, you could go to a vocational school. Trades such as HVAC, plumbing, and electrician are in high demand. Culinary arts is a popular vocational training program. Some people opt to go to a vocational high school to give them a head start on this process.
While these trades may take a while to learn, many trade schools offer dramatically shorter and more affordable programs than a four-year degree from a traditional university. This is because technical schools focus more on the vocation and how to get the tasks done than they worry about the theory.
19. Get a Job
It may be too obvious, given that in the game of Life, your options at the beginning are college or getting a job. Getting a job after high school is an option. Many jobs do not require college degrees and still have plenty of room for advancement and growing your career. Finding a job as a teen can be a bit tricky, but with the right steps can be achieved.
20. Become a Photographer
Photography is a business that can be started with limited startup costs and no degree requirement. There are several niches: weddings, family, high school graduation, and sports. Focus on a niche will help differentiate you from other photographers.
Building up the skills required to be a professional photographer takes time. One way to accelerate your learning is to become a backup photographer or photographer’s assistant.
How To Choose Your Alternatives to College
Just because going to college is typically construed as the best option after high school does not mean it is for everyone. Your after-graduation goals may be different than other people’s. You may prefer one of these alternatives to college instead. Ultimately, the decision you choose going forward will be yours to make. However, you should get the advice of a trusted adult with life experience to help guide your decision-making process. This post originally appeared on Savoteur.
Are you tired of the 9 to 5 grind? You’re not alone.
Millions of people are looking for creative ways to make money that don’t involve punching a clock daily. But it can be hard to know where to start. That’s where we come in.
So no matter what you’re looking for, we have something for you.
Creative Ways To Make Money Online:
1. Sell Photos:
If you’re a photographer, you’ve considered selling photos at some point. After all, what could be better than getting paid to do something you love?
And thanks to the internet, it’s now easier to sell photos online. Many stock photography websites allow you to upload your photos and earn a royalty every time someone buys them.
Some of the best websites are:
Shutterstock
iStockPhoto
Dreamstime
GettyImages
Unsplash
Just pick a niche that is always in demand. Something like nature, food, office, or travel should do the trick.
Pro Tip: Sign up and use more than one website to sell your photos. This way, you’ll reach a wider audience and have a better chance of making sales. To do this, ensure that you are not signing an exclusive agreement with any one site.
Average Pay: 25-45 cents an image. That means you need to sell around 400 photos to make $100. While it sounds like a lot, reaching this number is easy if you take high-quality pictures and sell them on multiple websites.
2. Sell Printables
One of the hottest trends in online entrepreneurship is selling printables.
For those who don’t know what that is, printables are digital files that can be printed out and used for various purposes, from greeting cards to planners to wall art. If you’re creative and have a knack for design, you can create your printables and sell them online.
Best of all, there’s no need for pricey inventory or shipping costs – once you create your files, they’re available for instant download.
According to CNBC, Jimenez makes over $160000 in passive income selling printables (most of which are digital planners) on Etsy. So if you’re ready to start earning money from your creativity, here’s how to start selling printables.
First, decide what kind of printables you want to create. Will you offer planners, greeting cards, or both?
Once you’ve settled on a niche, it’s time to start designing your files. You can also outsource it to a design expert.
Once your files are complete, it’s time to start promoting them. You can list them on marketplaces like Etsy or Creative Market or set up your website or blog.
Be sure to include attractive images and compelling descriptions to entice potential buyers.
And finally, remember to price your printables competitively – if your prices are too high, you won’t make any sales!
With a little effort and creativity, selling printables can be a great way to earn money from home.
Pro Tip: Specialise in one type of printable and then keep adding to your collection. This way, buyers will return to your store repeatedly, looking for new and exciting designs. It would be best if you also tapped in holiday printables.
Average Pay: $1-$5 per printable.
3. Flea Market Flipping
Have you ever gone to a flea market and found an old item you thought could be worth a lot of money? If so, you may have been intrigued by flea market flipping.
It is buying items at flea markets or garage sales and then selling them for a profit. While it may sound like a simple concept, a lot of work is involved in successfully flipping items.
First, you need to have a good eye for spotting hidden treasures. You also need to research the market value of potential purchases and know when to walk away from a bad deal.
Finally, it would help if you were patient in waiting for the right buyer to come along. We recommend you start with eBay because it allows you to reach a global audience of buyers.
Pro Tip: If you find an interesting item, always grab your phone and check how much it is selling for on marketplaces like eBay.
Average Pay: $10-$200 or even more per transaction, depending on what you’re flipping.
4. Become a Social Media Influencer
In today’s digital age, social media is more critical than ever. A solid online presence can help you build your brand, connect with customers, and drive sales.
And for many people, social media is also a source of income. Platforms like Instagram and YouTube offer opportunities for users to share their content with a broad audience and generate income through sponsorships and affiliate marketing.
To make money through social media, you must build a strong following.
Identify your niche, create engaging content, and be active on the chosen platform. You’ll also need to be patient and consistent because overnight success is rare.
Pro Tip: Collaborate with micro-influencers in your niche to grow faster.
Average Pay: Depends on the number of followers and engagement rate. It can range from $50-$10,000+ per post.
5. Start a Blog
If you’re passionate about a specific topic and want to share your knowledge with the world, starting a blog is a great way to do it.
Not only will you be able to share your thoughts and connect with like-minded people, but you can also make money in the process.
There are several ways to monetize a blog, such as
selling advertising space
affiliate marketing
writing sponsored posts, and
setting up an online store.
However, the most successful bloggers usually focus on providing valuable content and developing a solid rapport with their readers. By building a loyal following, you’ll be well on making money from your blog.
Pro Tip:Invest time and money in learning SEO and building quality backlinks right off the bat.
Average Pay: You can expect $100 to over $100k yearly, depending on traffic, niche, and monetization methods.
6. Sell Your Voice
Many opportunities are available for people who want to make money by selling their voices. Voice acting is booming, and there is always a demand for new talent.
Whether you have a deep, commanding voice or a high, sing-songy one, there is likely a role for you. All you need is a good-quality microphone and a quiet place to record.
Some of the platforms you can start with are:
Voices.com
Voices123
BunnyStudio
So if you’re looking for a way to make some extra cash, consider selling your voice.
Pro Tip: Make sure you have a good quality microphone and quiet recording setup. It will make your recordings sound professional and increase your chances of landing gigs.
Average Pay: $13,500–$31,999 if you’re an entry-level voice actor.
7. License Your Art
As an artist, you want people to enjoy your work. But it’s hard to make a living off of art sales alone.
One way to generate additional income is to license your art to businesses that print on-demand products. It could include everything from t-shirts and coffee mugs to phone cases and wallpaper.
Not only will you earn a royalty on each sale, but you’ll also have the satisfaction of seeing your artwork on various products.
With the help of social media, you can promote your prints and reach a global audience of potential customers.
So if you’re looking for ways to monetize your art, consider licensing your work to businesses that print-on-demand products. It’s a great way to earn additional income and get your work into the world.
A few platforms to start with are:
Printify
Society6
Redbubble
Pro Tip: You need to upload new designs regularly to keep people interested and coming back for more. Also, tag your products with relevant keywords, so they appear in search results.
Average Pay: You will receive 20-30% commission on each sale.
Creative Ways To Make Money at Home:
8. House Sitting
Making money from house-sitting is a great way to earn some extra income, and it can be a fun and rewarding experience.
Keep a few things in mind when looking for house-sitting opportunities.
First, ensure you’re comfortable living in someone else’s home. You’ll be responsible for keeping the house clean and tidy, and you may need to take care of pets or plants.
Second, find out as much as possible about the homeowner before you agree to house sit. Ask about their expectations, and get a sense of their personality.
Finally, be prepared to be flexible. House-sitting gigs can pop up at any time, so you must adjust your schedule on short notice. But if you’re willing to do the work, house-sitting can be a great way to make some extra money.
To get started:
Create a profile on a house-sitting website and apply for jobs.
Include information about your experience and references.
Once you’ve landed an appointment, follow your client’s instructions and enjoy your new surroundings.
A few platforms to start with:
Trusted House Sitters
Mind My House
House Sit Match
Pro Tip: The best way to land house-sitting gigs is to have a strong profile highlighting your experience and references. Be sure to include photos and detailed descriptions of your past house-sitting experiences.
Average Pay: $25-$50 per day.
9. Rent Out Your Backyard
If you have a big backyard and are looking for a creative way to make some extra money, why not rent it out?
Depending on the size and location of your backyard, you could charge people for camping, parties, a fun night out, or even just for use as a garden. If you live in a busy city, you could rent your backyard as a parking space.
Many people are willing to pay good money for a little extra space, so if you have some to spare, why not put it to good use?
You can start with
Rent Your Backyard
Peerspace
Pro Tip: To attract customers, list your backyard on multiple platforms. And remember to include photos and a detailed space description.
Average Pay: $200-$500 daily for a decent backyard.
10. Rent Your RV
Renting out your RV is a creative way to make money and can be a great way to offset ownership costs. There are a few things to keep in mind when you’re getting started, but once you get the hang of it, it’s easy and fun!
First, you’ll need to find a good spot to park your RV. You’ll want to choose a convenient place for you and your renters with all the hookups and amenities they’ll need.
Once you’ve found the perfect spot, it’s time to list your RV on a rental site. Include clear photos, detailed descriptions of your RV, and your desired rental price.
Or you can also choose to allow the renter to pick up and take your RV to their desired destination, or you can offer delivery and setup as an option for an additional cost.
Once you start receiving rental inquiries, you must screen potential renters carefully. You’ll want to ensure that they have a valid driver’s license and understand the terms of your rental agreement.
A few platforms to begin with
RVnGO
Outdoorsy
RVShare
Pro Tip: Search the sites for similar RVs and analyze their listings, prices, etc. It will give you a good idea of what works and help you create a listing that stands out.
Average Pay: $100-$200 per night
11. Rent a Room
If you’re looking for a creative way to make extra money, why consider renting your room?
With the rise of platforms like Airbnb, it has never been easier to list your space and welcome guests worldwide. Not only will you earn money from rental fees, but you’ll also have the opportunity to meet new people and learn about different cultures.
And if you’re worried about guests trashing your home, don’t worry – most platforms offer host protection insurance, so you can rest easy knowing that your property is in good hands.
Pro Tip: Take professional photos of your space, and write a detailed description highlighting all the features that make your room special.
Average Pay: $50-$100 per night, depending on the location and amenities of your room.
12. Ads on Your Car
You’ve probably seen cars with ads wrapped around them and wondered how much money drivers make.
The amount can vary depending on the ad’s size, the car’s location, and the length of time the ad shows. However, drivers can typically earn a few hundred dollars per month for displaying an ad on their car.
Keep a few things in mind if you’re interested in earning extra cash by wrapping your car in ads.
First, make sure to choose a reputable company. There are many scams out there, so it’s essential to do your research before signing any contracts.
Second, be prepared to have your car inspected before the wrapping process begins. The company will want to ensure that your vehicle is in good condition and that the paint job is up to par.
Finally, be prepared to drive carefully!
You can start with
Nickelytics
Wrapify
Carvertise
Pro Tip: Read the fine print before signing any contracts. Some companies require you to drive a certain number of miles per week or prohibit you from going to certain areas.
Average Pay: $100-$400 per month. Some companies pay per campaign.
Other creative ways to make money:
13. Dog Sitting
Unlike dog walking, dog sitting involves staying at the pet’s home for some time, typically overnight.
It can be an excellent option for pet owners who need someone to look after their furry friend while out of town. In addition to walking the dog and feeding them, you may also be responsible for administering medication or taking them to the vet.
Dog sitting can be a rewarding experience and a great way to earn extra cash. Some places to find dog-sitting jobs are:
Rover
Wag!
Pro Tip: Offer your services to friends and family first, which will help you build a positive reputation.
Average Pay: $20-$40 per night.
14. Become a Mystery Shopper
For many people, mystery shopping is a creative way to make money. You get paid to shop at various stores and report on your experience as a mystery shopper.
It can include the store’s cleanliness, the staff’s friendliness, and the merchandise’s overall quality.
Mystery shopping can be a great way to earn extra money and a fun way to try out new stores and products. If you’re looking for a creative way to make extra cash, definitely look into mystery shopping.
You can look for mystery shopping jobs here:
Market Force
Intellishop
Secret Shopper
Pro Tip: Sign up with a reputable mystery shopping company. There are several scams out there, so it’s essential to do your research before signing up for any assignments.
Average Pay: $15-$30 per hour, depending on the length and complexity of the task.
15. Get Paid To Walk
Some companies pay you to walk, which is a great way to earn extra cash.
You can set your hours and walk at your own pace. You can also walk with friends or family, and you can even walk with pets. So get out there and start walking!
A few apps that pay to walk are:
Sweatcoin
Runtopia
Achievement
Pro Tip: Sign up for more than one app to increase your earnings.
Average Pay: It will depend on the app you use. For example, Achievement pays you $10 for every 10,000 points.
16. Become a Self-published Author
If you’re a talented writer, there’s no reason why you can’t publish your work and make money from it.
Self-publishing is a great way to get your work out without finding a traditional publisher. You’ll be able to retain complete control over your work, and you’ll be able to set your price. Best of all, you can start making money immediately.
Of course, self-publishing can be challenging. You’ll need to invest time and effort into promoting your work and your brand.
A few self-publishing platforms include
Amazon KDP
Reedsy
Pro Tip: Invest in an editor and a proofreader to help make your book the best it can be.
Average Pay: You’ll earn a 35-70% royalty on each book sold.
Take Your Pick:
Many opportunities are available for people who want to make money from home. Whether you’re a writer, artist, or car driver, there’s likely a way for you to monetize your talents.
So if you’re looking for creative ways to make some extra cash, consider one of the options listed above. You can achieve your financial goals with a little hard work and dedication. This article originally appeared on Savoteur.
If you’ve ever heard of someone who runs a business that is flexible enough to permit them to travel the world, then you may have caught yourself drooling. The thought of traveling while generating income sounds downright divine to many people.
Certain types of e-commerce business models allow owners to do exactly that.
The essential characteristic of these business models is that you can run the entire operation remotely. That extends owners the flexibility needed to travel the world or work wherever they want.
This guide offers instructions on how to start an e-commerce business that provides that sort of flexibility
Types of E-Commerce Businesses Suited for Travel
You can run the entire operation remotely if you start an e-commerce business that uses drop-shipping for order fulfillment.
Drop-shipping is when you take in customer orders and have someone else fulfill the order.
In other words, you don’t have to warehouse or manufacture anything if you run a drop-shipping e-commerce business. Whenever a customer orders an item from your website, you simply contact your supplier and have them ship the product directly to your customer.
That means you never even physically see or touch the products you ship. That’s what makes it so ideal for accommodating travel. You can fill orders from a coffee shop in Italy or anywhere else in the world because you can do all your order fulfillment work remotely from a computer or phone.
How to Start an E-Commerce Business that Drop-Ships
A detailed guide at CashBlog goes over all the steps to start an online business. It highlights items that pertain specifically to the drop-shipping e-commerce business model since it can cater to lifestyles filled with traveling.
Figuring Out What To Sell
Whether for a drop-shipping e-commerce business or any other business, ensuring you love what you do is the biggest key to success.
If you decide to sell necklaces but don’t care much for jewelry, that will be an uphill climb.
If, on the other hand, you are a huge baseball fan, then selling baseball-related products online might make sense. You love the topic, and because of that, you also have expertise in that area. These things will make a difference in the success of your business.
Beyond that, for a drop-shipping e-commerce business model, it’s going to be critically important to have suppliers that exhibit these characteristics:
They manufacture or warehouse products. Someone will need to store the physical product if you’re selling products online. It won’t be a good fit for this business model if you’re considering selling an item online but can’t find anyone who warehouses it or manufactures it.
They drop-ship products. Just because they manufacture or warehouse the products doesn’t mean they’re willing to ship them directly to your customer. You have to check to make sure they are comfortable doing that. If they are, the supplier should not include an invoice in the box since the customer would see how much you paid for the item.
They offer wholesale prices. If you find a warehouse that can drop-ship, but they are charging you retail prices, that will fail to work. You need to make a profit, or else there won’t be any money to pay for that travel you have in mind. You need to be able to buy the products at a price that’s lower than your sale price.
These days, many suppliers meet all three criteria since drop-shipping is a more common business function today. You could do a Google search for “wholesale warehouses” and add in the keyword for the item you’re considering selling, and you may get some good leads that way.
Your supplier might end up being manufacturers themselves rather than distribution warehouses. Many manufacturers warehouse their products and can drop-ship. Some will manufacture the product after you order it and then ship it directly to your customer.
Figuring out the lay of the land with suppliers for your preferred industry is a big step in starting a drop-shipping e-commerce business. You can only fund your travel plans if you find profitable supplier relationships.
Choosing an E-Commerce Platform
Once you know which types of products you want to sell, then it’s time to get down to the nuts and bolts of putting a website together.
The first step is choosing an e-commerce platform. It’s the software you will use to manage your website and all the product listings. It helps you build an online store that will serve as your e-commerce website.
Since you’d be looking for drop-shipping functionalities, you’ll want to find one with a full spectrum of features. In particular, using a platform with order management capabilities could be helpful.
For example, when an order comes in through your platform, you’ll want the ability to send a purchase order to your supplier. That way, the entire order processing function is handled through the same platform as where you receive the order from the customer in the first place.
It would also be helpful to use an e-commerce platform that offers a merchant account. That’s what you need in order to be able to accept credit card and Paypal payments and sell goods online.
The best e-commerce platforms include Shopify, Bigcommerce, and Magento. They offer a great set of tools for meeting your online business needs and include an array of customization features.
Nowadays, it’s common for an e-commerce platform to offer a full set of business capabilities in addition to standard e-commerce capabilities. It makes for a seamless operational experience for business owners, which will be helpful if you want to manage your business while traveling the world.
Marketing Your E-Commerce Business
Once you’ve set up your website, it’s time to start marketing so you can make money. You won’t be able to pay for any trips if you aren’t generating any income, and you won’t generate revenue if no one knows your business exists. Marketing allows you to grow your business and build your online sales.
One effective way to market e-commerce businesses is using SEO, which stands for search engine optimization. It’s the effort of getting your website to appear for Google searches.
If, for example, you are selling baseball bats in your e-commerce store, it would be ideal if your website showed up in the search results when someone did a Google search for “baseball bats.”
SEO requires much work up front and can take a long time to see results. But if you stick with it and are diligent, the results can be long-lasting and profitable. If you don’t want to do the SEO work yourself, you could hire an SEO expert to help you.
With e-commerce, SEO success may be easier to achieve than with other online businesses.
For example, according to Ahrefs, a reputable SEO software company, “baseball bats” has almost five times as much search volume as “baseball stats.” Yet, it’s twice as easy to rank for in Google based on the current competition.
That might be because there is less competition within the e-commerce niche than among all online businesses in general.
And this makes sense. If you want to rank well in Google for informational types of terms, then all you need is to publish the information and do SEO. But if you want to rank well for e-commerce types of terms, you have to add the extra steps of shipping the product and doing customer service.
Those extra steps mean more work, which raises the barriers to entry and discourages competition to some degree. That might make it easier, in general, to rank well for e-commerce search terms by doing SEO. There certainly are exceptions.
If you want to do more than just SEO, consider doing various forms of paid advertising. There are a vast array of options.
The key to paid online advertising is to ensure you can measure each ad campaign’s profitability as precisely as possible. With today’s technology, such as Google Analytics, it’s possible to figure out exactly which sales came from any ad.
If you can’t tell which paid ads are profitable and which aren’t, then you’re only delaying your ability to travel freely while running a business. The travel can only be paid for if you’re sure you’re running profitable ad campaigns.
One E-Commerce Business Owner Who Travels the World
Eric Ferguson is an example of an e-commerce business owner who has traveled many times while running his business.
Ferguson runs Andy’s Auto Sport, an online business that sells performance car parts. It’s a drop-ship business model, which means he can run the entire operation remotely. He and his staff never see the physical products that get shipped to customers.
His staff works in different parts of the world. Some are in California, and some are in India.
Ferguson says, “Nothing about the business in and of itself holds me back from traveling any time I want. When I go on a trip, I can dial back my work to spend more time exploring a new part of the world each day. Or I can do my normal tasks and enjoy doing them in a different environment.”
Ferguson, who lives near San Francisco in California, has run his business from places such as Canada, Boston, Phoenix, Los Angeles, and New York. Each of these different locations was a travel destination he pursued for pleasure.
Are You Ready to Start an E-Commerce Business?
Running an e-commerce business can indeed go hand in hand with frequent travel. The key is to use a drop-ship business model.
As long as you can find a way to generate profit, starting an e-commerce business could potentially lead to all the travel your heart desires.This article originally appeared on Savoteur.
Are you tired of your job and looking for the best work-from-home jobs? The online jobs that pay $40 an hour sound too good to be true?
We’ve good news – you can do plenty of legitimate high-paying jobs from the comfort of your home. Many of these online jobs that pay $40 an hour or more, and that’s more than $50,000+ a year!
Imagine waking up each morning knowing that you love your job and are doing what you love to do. With the right career, you can make your dreams a reality.
Online Jobs That Pay $40 an Hour:
Many online jobs are available today, and you can pick up something as exciting as photography or simple as writing, proofreading, or bookkeeping. No matter your skills or experience, there is likely an online job that is perfect for you.
While some of these home jobs pay weekly, others pay monthly or per hour. Besides that, you can take them up as part-time or full-time jobs; it works well in both cases.
And, finally, the absolute basics you need are a high-speed internet connection, a computer, and a place to work.
Let’s start with our top $40 an hour jobs recommendations. Some even pay more than 40 an hour.
1. Photographer
Are you looking for a creative way to make extra money? Consider becoming a photographer. You can earn $40 an hour selling photos with the right equipment and practice.
There is a vast market for stock photos (majorly workplace, cars, business, nature, people, feet pics, and more), and you can also find work as a niche photographer for weddings, babies, or other special events. Consider selling stock photos to earn extra money working from home.
You can start with the following websites:
Shutterstock
GettyImages
Pixabay
However, if you want to get paid well, focus on building up your clientele by offering your services for portrait sessions, family gatherings, or other occasions. In short, focus on event or moment photography.
No matter what route you choose, becoming a photographer can be a great way to tap into your creativity and make some extra cash.
2. Proofreader
Are you a stickler for grammar and punctuation and want to work from home? If so, you could make a great proofreader. Your job will include removing typos, spelling mistakes, and incorrect punctuation.
Proofreaders generally charge by the word or page, and rates can vary depending on the difficulty of the text and the turnaround time required. However, as a general guide, you can earn around $35-40 an hour as a proofreader.
If you’re interested in becoming a proofreader, there are a few things you need to know.
Firstly, it’s essential to have a good grasp of grammar and punctuation rules.
Secondly, you’ll need to be able to spot errors quickly and efficiently.
And finally, it’s helpful to have access to reference materials such as style guides and dictionaries.
You can either venture out to find freelance jobs to make money or work with companies that hire proofreaders. If you go with the former, you can choose your work hours and have a flexible schedule.
For the latter, you should check out Flexjobs. It is a job-seekers heaven, where you can find home-based jobs, telecommuting, and freelancing work. They also weed out the scams for you, so they have only legit jobs on the platform for you to apply for. However, it is not free of cost and comes at a small price.
3. Bookkeeper
Bookkeeping is an essential but often underrated work-from-home job. With bookkeepers, businesses keep track of their finances and comply with tax laws.
The demand for bookkeepers is high, and those with experience can command an hourly rate of $30-80 an hour or more. Bookkeeping might be your perfect career if you’re detail-oriented and good with numbers.
With the proper training, you could earn a good living in no time.
4. Virtual Assistant
If you’re looking for a flexible, freelance job that allows you to be your own boss, then becoming a virtual assistant might be the perfect role.
Virtual assistants provide remote support to clients worldwide, and the hours are often very flexible. You can offer writing, editing, proofreading, marketing, and administrative services, among other things. It is an excellent work-at-home job that requires no experience to start.
You will be working as an independent contractor, and rates can vary depending on the client, but you can expect to earn around $10 – 100 per hour, depending on the services. The best part – you don’t need a college degree for assistant jobs.
If you want to avoid finding your clients, you can find virtual assistant jobs with top companies like Fancyhands, Belay Solutions, WingApp, etc.
5. Video Editor
For many people, the thought of becoming a video editor is daunting. After all, editing a video requires significant skill and experience; however, the potential rewards are well worth the effort.
You could earn up to $40 an hour as a beginner video editor – far more than the average wage. And, as the demand for online video content continues to grow, your skills will become increasingly valuable.
So if you’re looking for a new challenge and want to make money, there’s no time to start learning video editing.
6. Social Media Manager
As a social media manager, you create and manage content across all social media platforms. It would involve working with the marketing team to develop strategies, design and schedule posts, monitor metrics, and engage with customers and followers.
While the job can be challenging, it is also rewarding, and many social media managers report high satisfaction with their work.
In addition, the job pays well, with most social media managers earning between $35 and $40 an hour. Becoming a social media manager may be the right choice if you want a creative and challenging career.
7. SEO Consultant
As the online world continues to grow, the demand for qualified SEO consultants is also rising. If you have a knack for improving search engine rankings and driving website traffic, then a career as an SEO consultant may be the perfect fit.
As an SEO consultant, you would be responsible for helping businesses to improve their online visibility and organic search results. In most cases, you would work with clients on a project basis, providing them with guidance and advice on optimizing their website and content for better search engine performance.
In return, you could earn up to $100 per hour, making it a highly lucrative profession. If you’re looking for a challenging and rewarding career in the digital marketing field, then becoming an SEO consultant is a great option to consider.
8. Content Marketer
As a content marketer, your job would be to create and distribute content, analyze metrics, and take steps to consistently attract and convert a defined audience into paying customers. If you’re interested in becoming a content marketer, you should know a few things.
First, content marketing requires creativity and strategic thinking. It would help if you came up with new and exciting ideas to capture your audience’s attention.
Second, you need to be a strong writer. Your content must be well-written and error-free.
Third, you need to be detail-oriented. A successful content marketing campaign requires careful planning and execution.
Finally, it would help if you were comfortable working with numbers. You’ll need to track your results and analyze your data to determine what’s working and what’s not.
If you have these skills, you can earn well as a consulting content marketer.
9. Personal Trainer
Do you love working out and helping others reach their fitness goals? If so, then a career as a personal trainer may be the perfect fit for you.
But how to make money online as a personal trainer?
Well, post the pandemic, people are open to taking online fitness classes, which makes it possible for trainers to work online and make money. Your job includes working one-on-one with clients, helping them to achieve their fitness goals. In addition to setting up workout plans and providing motivation, you will monitor your client’s progress and adjust their programs as needed.
Besides this, you can earn money online by creating your online coaching programs and courses.
Best of all, personal trainers earn an average of $20-100 an hour, making it a great way to earn a living while doing something you love. So if you’re looking for a challenging and rewarding career, consider becoming a personal trainer today.
Which One of These Top Jobs Do You Like?
There are several lucrative work-at-home jobs that you can pursue if you’re looking for an online job that pays $40 an hour, have flexible hours, and achieve a work-life balance.
From SEO consultants and content marketers to makeup artists and personal trainers, there is something for everyone. Some other options you can look into are online teaching, transcribing, tutoring jobs, customer service jobs, and blogging.
All it takes is the willingness to invest in yourself, develop your skills, and stay focused on your goals.
You can make a great living doing something you love with hard work and dedication. So don’t wait any longer—start working on your dream career today! Good luck!
The current state of the economy has most people scrambling to pinch pennies. Shopping for necessities at discount stores is an excellent way to keep more cash in your wallet. Read on to learn the best places to grab a bargain.
Best Discount Stores: Grocery Retailers
According to the U.S. Bureau of Labor Statistics, the cost of food was the third-highest household expenditure in 2021. The grocery bill can quickly get out of hand if you aren’t careful. Shopping at discount grocery stores can save money on monthly food costs. Here are the best cheap food stores to shop at to keep your grocery spending under budget.
Aldi
Aldi is a discount grocery chain from Germany. It is known for its quality organic and private-label products. The chain focuses on the consumer and uses several strategies to help keep prices low for customers.
Aldi offers a smaller selection of products, which allows for smaller stores. They keep costs down by efficiently stocking their shelves and hiring fewer employees.
Many shoppers rave about the superior quality and great prices of Aldi products. If you have an Aldi near you, consider checking it out to see how much money you could save. You may be pleasantly surprised by how much you save on groceries.
Lidl
Like Aldi, Lidl is also a German discount store that sells private-label products much cheaper than you would find in a regular grocery store. They use similar business strategies as Aldi to maintain low product prices for customers. You won’t need a quarter to rent a cart, but don’t forget your reusable shopping bags when you head to Lidl.
Trader Joes
Trader Joe’s is another grocery chain where you will find quality private-label products at prices that beat other large grocery chains. Trader Joe’s bases its product lineup on foods from around the world. As a result, you’ll find unique and tasty products at reasonable prices. In addition, you don’t have to worry about sales expiring or forgetting your loyalty card. Trader Joe’s believes everyone should have access to outstanding value for food without special promotions or membership cards.
Kroger
Kroger is a massive supermarket chain founded in 1883 in Cincinnati. Through several mergers (and another merger with Albertsons in the works), the Kroger Company has grown to have almost 2,800 stores operating under more than two dozen brand names. Food4Less is one Kroger brand that is considered one of the cheapest grocery stores in the United States.
Grocery Outlet
The Grocery Outlet is a discount chain with over 400 stores across the country. In the aisles of this supermarket, you’ll find tons of brand-named products without the steep price tag. Instead, products are sourced from package changes, surplus stock, and overruns to bring you quality off-price products.
Best Discount Stores: General Retailers
Shopping at general retail stores is the norm for buying all of your life’s necessities, including food and beyond. For example, things like clothing, toiletries, household items, and kitchen wares are all items you would find at a general retailer. Also, looking for the cheapest stores to buy discounted goods will free up money in your budget to allocate toward your financial goals. Here are some of the best discount stores to shop with a small budget.
Walmart
Walmart is famous for having the lowest prices on almost anything you want. It stocks an enormous variety of products at rock-bottom prices. Their store-brand products are excellent cheaper alternatives to name brands. But even if you are brand-loyal, don’t forget your coupons or use your favorite grocery savings app, such as Ibotta, to save money at this colossal retailer.
Besides being a great place to get cheap groceries, Walmart is also one of the best places to buy all your self-care necessities. This big-box store has an endless selection of makeup, soaps, hair products, lotions, and anything else you may need to look and feel your best. The best part is you will rarely find these products cheaper elsewhere.
Target
Target is a discount department store well-known for its bullseye store logo. You’ll find almost anything you need at this one-stop shop, including great deals on clothing. Target owns over 45 clothing brands for men, women, and children that you can find in-store or online. If you prefer to sport name-brand attire, look for discount clothing stores to save money. But consider shopping at Target for other essentials like pajamas, undergarments, socks, and accessories to save money on your wardrobe. Don’t forget to check clearance racks for even more savings.
Walmart and Target have similarly priced toiletries and personal care products. You’ll find all your favorite drugstore brands at target for less than you would pay at the drugstore. In addition, Target partnered with Ulta Beauty in 2021 to allow you to shop for prestige brands. You’ll also have access to the expertise of Ulta Beauty-trained employees in an actual one-stop-shop environment.
Amazon
While not technically a discount store, Amazon is an excellent place to shop if you are looking for deals. From personal care products to pet supplies, you’ll quickly find what you are looking for at the lowest prices. In addition, if you are wondering where to buy cheap clothes online, Amazon is one of the first places to look to find clothes at a discount. You’ll find name-brand apparel and footwear in any style or color you need. Also, many Amazon sellers offer free shipping, even if you aren’t an Amazon Prime member. Just be sure to check product reviews to be sure you are purchasing from a reputable seller.
Meijer
Mainly in the Midwest, Meijer is a supercenter retail chain focused on exceeding customer expectations. Meijer is a one-stop shop where you will find everything from groceries to electronics to shoes and wine. Some stores even house nail salons and barbershops! This company strives to ensure customers have fresh foods and are well taken care of by offering select prescription antibiotics and prenatal vitamins for free. In addition, Meijer is known for running weekly “10 for $10” sales (and they give you the 11th item for free).
Big Lots
Big Lots is a general retail discount store aiming to help people save money on all products. Big Lots offers a vast assortment of quality brand-name products at steep discounts for people on a small budget or those looking for a great deal. After all, their mission is to “Help people live big and save lots.”
Five Below
Five Below is a specialty discount store that stocks its product line with tweens and teens in mind. Most of the products sold at Five Below are less than five dollars. However, the store does carry a small selection of products priced between $6 and $25 in their “Five Beyond” shop. They stock trendy, stylish goods that make great gifts for the young (and not-so-young) people in your life.
Tuesday Morning
Tuesday Morning is a discount store where you will find home decor, bath, bedding, kitchen wares, rugs, pet products, and more. This store sells products that are name-brand closeouts and factory overruns to bring you great deals on quality products. If you are looking for cheap furniture stores, Tuesday Morning is where you’ll want to shop for coffee tables, accent chairs, unique cabinets, and more. So whether you need an inexpensive gift or something for your home, browse the aisles in a Tuesday Morning store to find a fantastic deal.
Ollie’s Bargain Outlet
Ollie’s sources its inventory through overstock and closeout products. But inspect your items carefully because Ollie’s also sells irregular and refurbished products. You’ll find almost anything you need at Ollie’s.
Dollar Tree Stores
Dollar Tree is a discount variety store that also owns Family dollar. Dollar Tree is known for pricing everything in the store at one dollar. However, over the past couple of years, they have introduced a “Dollar Tree Plus” section of the store where they house products that cost more than one dollar. As a result, you will find many of your everyday necessities at Dollar Tree at exceptional value, saving you money. Shop for personal care items, glassware, home decor, seasonal decor, toys, gift wraps and bags, greeting cards, and more.
Dollar General
Dollar General is another discount variety store to check out if your goal is to save money. Even though the word “dollar” is in the name, be aware you will find most products priced at more than one dollar. This dollar store aims to make shopping easy and affordable by selling products at everyday low prices. Dollar General sells food, personal care items, beauty products, cleaning supplies, clothing, and more. You’ll find some of your favorite brand names on the shelves at Dollar General, along with private-label brands.
Outlet Stores
Locating the nearest outlet stores will lead you to the best discount shopping, especially if you love name brands. You’ll head to the checkout counter with some of the lowest prices on your favorites. Whether you shop at factory stores or upscale premium outlets, you can save on just about any brand you love. From Kate Spade to Under Armour, outlet shopping is a gold mine for bargain hunters.
The Takeaway
Finding the best ways to save money on your necessities is critical with the current state of the economy. And shopping at discount stores makes it easy to pinch pennies without much effort. So next time you shop on a tight budget, check out some of these stores to help stretch your dollars.This article originally appeared on Wealth of Geeks.
With gas prices hitting record levels this year, it’s no surprise that consumers are looking for ways to cut costs. That’s where gas apps come in. These apps help you find the cheapest gas and offer rewards too.
You can either install a gas app on your smartphone or use the web browser version if you prefer. Some companies offer free versions depending on the app, while others require a monthly fee.
Saving money, especially if you’re living paycheck to paycheck, is essential – and every penny counts. Especially if you’re trying to pay off a loan or get out of crippling debt, saving money at the pump can help you reach your financial goals. Here are the top gas savings apps to try.
Gas Apps To Save Money
1. Gasbuddy
GasBuddy is a popular smartphone app that allows users to compare gas prices across multiple locations. The app collects data from its users to provide real-time information about local gas stations, including price comparisons and location maps. People have downloaded GasBuddy over 40 million times since it launched in 2012.
2. Gas Guru
Gas Guru is a free app that displays gas prices in your local area. Gas Guru uses OPIS (Open Petroleum Information System), making it more reliable than similar apps.
3. AAA Triptik Travel Planner
The AAA TripTik Travel Planner is a travel guide app designed specifically for Android smartphones. With it, you can plan trips anywhere in the world, including popular destinations like Hawaii, Florida, Las Vegas, California, and many others. You can even use it to find places to eat, shop, explore, and relax while traveling.
You can read reviews about restaurants, hotels, attractions, shops, and more. And you can save those locations into your favorites list, so you remember where you want to go next time you plan a trip.
Features include:
Find places to eat, shop & relax around the globe
Read reviews about local businesses
Save favorite places to revisit later
See nearby points of interest based on your current location
4. Mapquest
MapQuest is an online mapping service. Founded in 1996, it allows you to calculate gas miles while traveling.
The site offers free maps, driving directions, and detailed maps. So whether you’re looking for the nearest cheap restaurant or going to your kid’s soccer game across town, MapQuest can help you get there cost-efficiently. If you own a small business, MapQuest has subscription plans ranging from $0 per month to $799 per month to help drive people to your business.
5. Upside
Upside allows users to earn money back on purchases at grocery stores, restaurants, and other local businesses. Users can redeem rewards via Paypal, bank transfer, gift card, or eGift. This app is available in English only.
6. BPme Rewards
Get $5 off fuel purchases at participating BP locations nationwide
Save money while fueling up at participating BP gas stations. Get discounts on other products in select retail locations. And enjoy exclusive offers and rewards through BPme Rewards.
Visit bpme.com/rewards to find out how you can save money and earn points.
7. Shell Fuel Rewards
This app gets you discounts at gasoline stations. With Shell Fuel Rewards, users earn points based on the amount of money spent fueling up. They can redeem those points for cash back or store credit.
The app is free to download and use. There are no ads or in-app purchases.
9. Speedy Rewards
Speedway offers rewards cards for everything from groceries to travel. But there are some things they won’t give you cash back for — like gas.
The credit card company says it’s because those purchases aren’t “necessarily related” to what you’re buying with the card.
10. Google Maps
Gas stations are now listed directly in Google Maps, meaning you no longer have to search for them online. You can type in your destination and find out where to go. If you want to know the type of fuel sold there, you’ll still have to look up the location. You can use the same feature to check prices too.
The feature seems to be rolling out slowly, though, so some people are reporting seeing it already. We don’t know why Google chose to add this functionality. However, it’s been around since 2017, so it may have been added in response to competitors like Apple Maps.
11. Checkout 51
The Checkout 51 app is free to download but requires a $20 minimum reward to cash out. Once you’ve reached the $20 minimum, you’ll receive offers based on how much cash you left over. If you’re willing to delay your rewards, you can buy gift cards with your leftover funds. Gift card values range from $5 to $500.
12. FuelGenie App
FuelGenie is one of the fastest-growing apps in the US today. They are proud to offer the most accurate real-time price data and want to reward their loyal customers with discounts on fuel purchases.
They have been working hard to make sure their customers enjoy the best experience possible, including making it easy to earn rewards and redeeming those points for discounts on fuel purchases. Their goal is simple – provide the best value for money on gasoline anywhere in the country.
The FuelGenie app allows you to locate the lowest prices on gas across all 50 states. You’ll only pay what’s advertised online. With over 300,000 registered users, FuelGenie is already helping millions of people save hundreds of dollars each month on fuel costs.
Pros And Cons Of Using Gas Apps
There are pros and cons to using gas apps. Some are free, while others cost $5-$10 per month. The most important consideration when deciding whether to use a gas app is how well it works for you. Here are some things to consider:
1. Accuracy
How accurate is the information in the app? Is it updated frequently enough? How often does it show inaccurate prices? Are they always showing the correct price or only sometimes?
2. Reliability
Is the app reliable? Does it work as expected? For example, do you get an error message if the app cannot connect to the internet?
3. Security
Are your details safe? What security measures do they take to protect against hackers?
4. Privacy Policy
What privacy policies exist? Will they share your personal information with third parties?
5. Features
Do you need additional features such as loyalty programs, coupons, and rewards?
6. Support
Do they answer their support requests within 24 hours? Can you contact them via phone, email, or live chat?
7. Pricing
Will you be charged monthly or annually? How long will you be charged before canceling?
Conclusion
In conclusion, gas apps are a great way to save money without sacrificing convenience. They allow you to track your mileage, set alerts for when you’re approaching certain miles per gallon thresholds, and even help you plan trips based on your current fuel costs.
The best part is that most of these apps are free! So download one today and start saving money right away!
It’s no secret that college can be expensive. Books, tuition, room, and board all add up quickly. However, there are ways to save money while you’re in school. With some planning and thinking outside the box, you can save more money than you think.
A budget is crucial for the school year. Track how much you make, spend, and plan, so you only spend what you have.
Setting up a budget and following it offers three significant benefits. First, you will recognize where you tend to overspend, which can help you self-assess ways to save money.
Second, it allows you to plan your spending. If you want something but need more money to pay for it, you can plan and cut some spending or find ways to bring in extra income.
Finally, learning to budget now will give you a head start after graduation. When you finally have a steady paycheck, you won’t be as tempted to spend it all because you have the budgeting skills and knowledge that help you to spend wisely and save for the future.
#2. Get a Free Checking Account
Many banks have student accounts that minimize or even waive all fees. If your bank is charging you a monthly account fee or other fees, find a new bank.
While it might not feel like paying $5 a month in fees is a lot, it’s a complete waste if you can bank and not have to pay the fee.
#3. Don’t Overdraft Your Account
Do not overdraft on your bank account, in other words, do not spend more money than your checking account. With overdraft protection, the bank will still allow you to use your debit card or write checks, even if you don’t have enough cash to cover it.
The catch is you get charged a fee for this privilege. The average overdraft fee is $33, which means if you overdraft your account five times a year, you are paying $165 in fees. Set up a budget and know how much you have in your checking account to reduce the risk of this unwanted fee.
#4. Look for Student Discounts
Being a student has its perks. Nearby businesses might offer student discounts. Restaurants, movie theaters, and other establishments might give you a deal if you show them your valid student ID card.
Make sure you always have your student ID card in your wallet just in case you find yourself somewhere you can save money.
#5. Seek Out Education Discounts
Many services also offer discounts. Amazon Prime has a special student price. You can even get a discount on a Spotify Premium bundle that includes Hulu and Showtime as a student.
Restaurants like Chick-fil-A and McDonald’s offer discounts, as do a handful of clothing retailers and insurance companies. If you are a student, you should ask if you can get a student discount before signing up for or paying anything. This tip alone can save you thousands of dollars a year.
#6. Use The Library
The library is an excellent resource you can use to cut down on expenses and meet a college student’s budget. Many college campuses have libraries with on-campus managers that can help you with assignments, recommend books for your leisure time, and offers resources and activities to help you excel.
#7. Renting or Buying Used Textbooks
There’s rarely a good reason to buy brand-new textbooks. They are notoriously pricey, so if you can buy used textbooks rather than new ones, go for it!
If the course isn’t part of your major but is still required, you might rent used textbooks, which can save you even more.
Once your class is over, you can sell your used books to get back money from your purchase and use that cash to cover the cost of the following semester’s books.
When using this tip, avoid the campus bookstore as much as possible. You can get better deals by both buying and selling books online.
#8. Take Advantage of Your College
You should get a lot of free things that you otherwise would have to pay for simply by being a student. For example, if you have to mail a letter but don’t have an envelope, go into one of the administration offices and ask for an envelope.
Feel free to take this idea to the edge of what you deem ethical. If you need printer paper, take some from a copier in the library.
#9. Use Career Services
This option is helpful to you as a junior or senior, though any student and even alums can participate. All colleges have a career services office to help you write your resume. There is no cost to you, so you should take advantage of it. It will save you the money of paying for someone to craft or edit your resume instead.
#10. Learn About University Services
As a college student, many universities offer a wide range of services as they know that college students struggle with money. That might be free mental health services or reduced health insurance. Every college offers different services, so be sure to see what low-cost or free university services your college provides so that you can save more money for things you might need.
#11. Buy Used
Used textbooks only scratch the surface when it comes to lowering your expenses. There are plenty of secondhand items that you can purchase to cut down on spending. Your university might offer discounts on used laptops as an example.
If you live off campus or in an apartment on campus, you can find used furniture and houseware items on sites like Craigslist or Facebook Marketplace. Yard sales are also a great place to find quality items for cheap.
Be sure to check out platforms like Freecycle, where people offer free items instead of throwing them out. You should check out the dumpsters on campus at the end of the year. Many students will toss perfectly good furniture and other household items, so they can skip taking them back home.
Buying new items is optional, and used items work just as well. If you adopt this minimalist lifestyle now, it will serve you well for the rest of your life.
#12. Take Advantage of Your Meal Plan
Once you’ve made a budget, food is one of your most significant expenses. If you’re committed to saving money, you should look into your college’s dining hall meal plans.
Most colleges offer plans at various price points. For example, the most expensive plan would be three meals a day, seven days a week. But other options could include two meals a day for only five days.
I opted for one meal a day, five days a week. I ate lunch on campus during the week and then at my apartment on the weekends. If you do the math, you can make out ahead financially. That is especially true since you can go up for seconds.
Sometimes, I would even get seconds or thirds and pack the food in my bag to eat later.
#13. Cook Often
Limit your food budget by cooking at home. Food costs may be rising, but you can navigate this by looking for sales, joining local rewards programs to take advantage of discounts or get free items, and buying bulk to spend less on meals.
You can also save money by sticking with the staples. You can buy a lot of pasta for very little money, as well as canned vegetables. The more creative you can get with shopping, the more money you save.
#14. Be Smart When Dining Out
When you do go out to eat, be smart about it. Look for specials or only go during happy hour when you can get food at a discount. You might even consider splitting plates with others.
If you are trying to save, you can take leftovers others have left on the table if the server still needs to clear the table.
Buffets are another great idea since you can eat a lot of food for a set price. I usually went to lunch and ate one large meal, so I wasn’t hungry for dinner. I also snuck some food out occasionally as well. There are many ways to get free food when you need more money.
#15. Avoid Expensive Drinks
College students spend way too much on coffee and alcohol. Rather than spending $7 on specialty drinks, invest in a good coffee maker and brew your own. Similarly, if you’ve got roommates who are avid coffee drinkers, then you can split the cost of your coffee machine and recurring drink-related expenses with other students.
When it comes to alcohol, buy the cheapest available. It not only lowers your costs, but when you look back years later, you will have great stories admitting that you enjoyed drinking a particularly low-end brand.
#16. Use Public Transportation
Having your car, while convenient, is another significant expense. There are maintenance costs, gas, and insurance to consider for something you’re probably not using much now. Most college students don’t need a car.
Public transportation is your friend in college and a great way to save money in college. Taking the bus to and from places is much more cost-effective than having your car.
There’s also the option to get a student pass. Many colleges partner with local transit authorities so that you can get a discount on the bus, subway, or trolley anytime you need to get somewhere, and it’s certainly less expensive than owning a car.
Finally, you can barter with someone that does have a car. If you need a ride, offer to clean their dishes or help them with a class they are struggling with in exchange.
#17. Walk or Bike
The best option to get around is to walk or bike. Not only is it 100% free, but it also improves your health. If your campus is within walking or biking distance from grocery stores, cafes, or other places you frequent, consider making the trip on foot or by bike.
#18. Use The Campus Gym
A gym membership can cost you a lot each month, and at most colleges, you can go to the school gym for free and have complete freedom to attend whenever you please.
You might also have access to amenities like the basketball court, swimming pool, and more that most gyms don’t have or charge extra for you. Your college might even offer free fitness classes too.
#19. Attend Free Events
On or off campus, there are always great places to attend events or participate in free activities to keep you from getting bored and save money.
Most colleges schedule events all the time for their students. Just visit your college website’s student life section to get a list of events happening around campus.
Additionally, most towns offer free events too. Whether it is a street fair or community day, there usually is something to do that doesn’t cost any money. You should check neighboring towns, too, as they will have events for you to enjoy.
#20. Save on Video Games
A video game can cost $60 or more, which is more than any college student should spend. To get around this, see if other students have the game and ask if you can borrow it.
Buying a used video game is another excellent way to save money. You can often find them at garage sales, thrift stores, or online retailers like Amazon and eBay. Just be sure to check that the game is compatible with your gaming system before you buy.
Finally, check out the local library, not your campus library. They might carry video games for you to rent. Chances are they won’t have the newest releases, but you never know.
#21. Keep Track of Your Borrowing
Taking on debt is inevitable when you enter college, but one major step you can take to help you manage your college money is to track how much you have borrowed.
Generally, you only want to borrow what you can earn in your first year after graduating.
Recognizing and cutting back on your borrowing wherever possible will save you a massive looming debt when you graduate and let you progress with your career and life goals more easily.
You will be amazed at how well seeing a running total of your student debt affects your future choices. It may even inspire you to find ways to take on less debt for your remaining time in college.
#22. Don’t Miss Payments
Another critical way to avoid wasted spending is not missing payments on your credit card or tuition. When you miss a payment, you pay additional fees and sometimes a higher interest rate.
Do whatever you need to track when bills are due to ensure that you make payments on time.
This tip also extends to your post-college years when you start paying back your student loan debt. If you pay on time, they will not harm your credit score.
#23. Work in College
How does working in college save you money? There are a few ways. First, it can help you to pay for tuition, so you have to take out fewer student loans. Next, if you are spending your free time working, you have as much time to spend money.
Lastly, you can put money into a savings or investment account that will grow into more significant amounts thanks to compound interest.
Of course, you need to make sure your classes come first, so make sure you find a job that has flexible hours so you can still get your studying done. These are under-the-table jobs that allow you to work nights and weekends.
If you can, try to structure your class schedule that frees up the most time possible to work. For example, if you can schedule your classes early in the morning, you’ll have the afternoon to study and work nights and weekends.
Finally, be sure to take advantage of school breaks around the holidays. If you stay near campus or head home over break, chances are you can find temporary work to earn some extra cash.
#24. Complete The FAFSA Each Year
The Free Application for Federal Student Aid (FAFSA) is a form you must fill out to get financial aid for college. Even if you don’t think you’ll qualify, you must fill this out yearly.
Most people think you fill out this form to qualify for student loans. While this does help with that, it also allows you to be eligible for Federal grants, which you don’t have to pay back.
Another benefit is work-study, which is an on-campus job that helps you with having some spending money.
#25. Apply for Scholarships
Apply for scholarships and look for available grants that you can use to cover tuition, housing, and school supplies. While grants can be somewhat limited, there are often plenty of scholarship opportunities to apply for before the next school year rolls around.
You might be surprised at how many places offer scholarships, many of which are not dependent on having high grades. For example, you can get a scholarship if you are left-handed or even if you read specific personal finance blogs.
Spend a weekend searching online, and you should be able to find and apply for many scholarships.
#26. Establish Your Career Goals
One of the biggest mistakes people make in college is simply taking courses that have no impact on their future or are a requirement for graduation. The sooner you know what you want to do after college, the sooner you can focus on taking the classes you need to graduate.
If you don’t know what career you want to pursue, the best college money-saving tip you can get is to go once you’re ready or attend a community college, which is always significantly less expensive.
That will help you to figure out what you want to do so that when you go to college, you can keep expenses to a minimum.
#27. Work With Your Advisor To Streamline Your Education
Those who took Advanced Placement (AP) classes in high school may have credits that they can apply to their college degree to spend less time and less money in college. However, if you didn’t take AP classes, you can still accomplish the same thing.
Visit your student advisor to see how you can complete all your needed classes and graduate early. Even if you can graduate one semester early, this will save you thousands of dollars. If you can land a job right away, this will put you that much further ahead financially.
#28. Make Friends You Can Be Roommates With
Socialization is essential in college. It’s not only because it’s good for your mental health or crucial to networking but because you can find potential roommates. The more people can pitch in on an apartment, the easier it will be for you to afford rent and split most living expenses.
It’s also essential to make sure you’re making friends with reliable people who will be good roommates instead of potentially leaving you in a precarious situation later on. The last thing you want to do is have a roommate who always parties.
I made this mistake my sophomore year. I roomed with the guys I partied with on the weekends. When we lived together, it turned out we partied almost every night. Our grades suffered, and a few of my friends dropped out. The following year, I roomed with my other friend, who what a great student. While we also had a lot of fun, my grades were the best when I lived with him because he showed me how to structure my time better.
#29. Focus On Accumulating More Permanent Items
Fast fashion and other cheap items seem like they save you money upfront. They do, but you’ll notice that you often go through these items faster than you should.
For example, if you buy a $20 pair of running shoes, you might only get a few months of use out of them. You’ll then need to purchase these shoes several times throughout the year, costing you a lot of money.
On the other hand, you could invest in a good pair of shoes that will last several years and save you more money over the long term.
While it sounds good to buy the cheapest item, make sure you also think long-term, as this is where the actual savings are. Of course, you should always choose the most affordable item for one-time-use items.
#30. Use Cash Back, Rewards, Coupons, and Discounts
Saving money is relatively easy in the digital age. There is no shortage of websites and apps that will help you cut down on spending for some of the essentials you need.
Are you going to the grocery store? Look for in-store coupons or join their rewards program. They pay attention to the sales fliers, so you know when an item on sale is selling at the lowest price.
Are you shopping for electronics online? Look around for discount codes to apply to get money off your purchase. If you can wait until next year’s model comes out, take advantage of the lower price on the old version. You can also find a store selling an open-box version to save.
Do you need to make a purchase you might not be able to get a discount on? See if any financial apps offer a cash-back promotion for that purchase. At the very least, ask the cashier if there are any discounts. You might be surprised they have a coupon or can offer you 5% off just because you asked.
#31. Earn Free Gift Cards
Another option to help offset the cost of things is to earn gift cards. Many sites, including Swagbucks and MyPoints, allow you to play games, answer surveys, watch videos, and more.
You can redeem your points for cash or gift cards to your favorite retailer.
Then you use the gift cards to pay for the things you buy, saving you money. As a bonus, these sites often run sales, so you can get a gift card for fewer points than usual, helping you get more gift cards.
#32. Benefit From Credit Card Rewards
Credit cards are where consumer debt usually starts. But if you are careful with your spending, credit cards are a great way to save money.
First, you can use a card that offers cash back or points every time you purchase. You can redeem these points for cash, a statement credit, or discounted travel.
Another way credit cards help you to save is by getting the lowest price. Some credit cards will monitor your purchases, and if the cost of the item drops after you buy, they will give you the lower price. Usually, there is a time limit of 30 or 60 days, but it saves you time from monitoring prices.
Finally, many offer great signup bonuses, allowing you to earn hundreds or thousands of dollars in cash back or points when you hit a specific spending limit.
If you decide to go this route, make sure you only charge what you can afford to pay back each month, as the interest you pay on any credit card debt far outweighs any benefit you get.
#33. Sell Items You No Longer Need To Recoup Costs
Do you have things lying around you no longer use? If so, you can sell them and earn a few dollars. Just take a few pictures and list the item for sale on Craigslist or Facebook Marketplace.
While you won’t pay for college with this tip, you can earn enough money to get some free pizza once in a while.
If you do this and find it enjoyable, here is a way to earn extra money. Go to yard sales, buy items, and flip them for a profit.
I did this in college and made decent money. I only bought things I knew, like video games, that I could resell for a higher price. But you can resell anything if you find a great deal.
Once I bought a bike for $5. It was in excellent condition, just dirty. I cleaned it up and sold it for $40.
Finally, at the end of the year, check out the dumpsters around campus, as many students toss perfectly good items. You can sell these things and make money.
Final Thoughts
There are many ways to save money in college, and saving money today is easier than ever. Money skills if learnt during childhood help kids make better financial decisions as they grow older.
But because it is so easy, it can feel overwhelming to some people. Take some time to figure out what options listed here interest you the most, and make it a point to use them to help you lower your costs.
Then you can add more tricks as you go. Not only does saving money help you now, but it will also help you in the future. The more you know how to save, the further ahead financially you can be for the rest of your life.This article originally appeared on Wealth of Geeks.
We all know it’s important to save money. But how do you do that when inflation is up, mortgage rates have increased, and rents are rising? Oh, and don’t forget – extra spending is coming with the holidays around the corner. Yet even in tough times, there are strategies to help build savings fast.
How To Save Money Fast
Stop Paying for Convenience
Necessity can be an excellent way to reduce time and money. Increase your cash flow if you take a few extra hours to make coffee. Do your own laundry. Mow your own lawn. You do not need to keep paying people to do easy things you can do.
Learn How to Budget and Understand Your Finances
You must be aware of your cash inflow and outflow before you start saving. That means identifying and understanding all revenue sources. It also means understanding your expenses, such as debt repayments, monthly bill payments, and savings.
There are many budgeting methods. Regardless of which one generates more hype, they all work. The trick is to find the budgeting style that works for you.
Create a Designated Savings Account
To save money quickly, you need to avoid spending your money. Create separate bank accounts. Have one for your monthly spending and another solely for savings. Refrain from withdrawing from your savings.
Use an Envelope Budgeting System
A good life hack that helps save time is using Dave Ramsey’s envelope budget system. To do this, divide your monthly income into seperate envelopes for fixed expenses, like rent, and then envelopes for variable costs, like food.
This method forces you to use a budget, and you physically see where the money comes and goes. To save money fast, have one of the envelopes be a savings account, and do not take anything out of it.
Designate a No Spend Day
Pick one day a month to spend nothing. Once you get the habit, increase it from three days per week to three days if you want more savings. When you do this strategy, avoid binge-spending the day before and after your no spend day. Otherwise, you are defeating the purpose.
Save Money When Eating
Save Money When Dining Out
It’s ok to dine out occasionally, just don’t forget the menu item does not reflect the full price. You also have to add gratuity and taxes. That’s another 20-30% on top of what it says on the menu.
When eating out, cut back on the add-ons. Is that bacon on your cheeseburger making you $4 happier? (It’s even more than that when you factor in tax and tip on those two slices of bacon.)
Many restaurants have opportunities to save if you know where to look. Some also have coupons, deals, and discounts. For example, grab some Chuck E Cheese coupons before taking your kids to get pizza.
Cook Your Own Meals
Food is often an essential part of your budget. Get ready to prepare a quick meal. Make a list of all the items you want to buy. Even when you don’t use supermarket coupons, cooking at home is much cheaper than eating out at a restaurant.
Reduce Your Grocery Spending
Try to plan your meals. Then you can determine what you are going to buy when you go shopping. The savings will surprise you if you cut down your weekly grocery spending.
Eat less meat and dairy, which might cost more. Check out items on our lower shelves.
Save Money While Shopping
Look for Coupons and Sales
Planning with coupons and looking into deals can make a significant difference. For online stores, use browser plugins like Paypal Honey Browser, which automatically searches for coupons to cut your final cost at the checkout.
Save Money Shopping on Amazon
So many of us shop on Amazon. Did you know there are ways to save when buying from the retail giant? The trick is to know where to find an Amazon Promo Code.
Make a List
Fight instant gratification. Get in the habit of making a list before you go to the store and stick to it. It will curb your compulsive spending.
Sign Up for Rewards and Loyalty Programs
Sign up for programs so you can get discount coupons for supermarkets and drugstore stores. Use them regularly when shopping for products and earn rewards on your next purchase.
It’s expensive to keep a roof over your head. Here are some ways to trim expenses so you can save quickly.
Make Your Own Household Products
Did you know you can make your own household products and cleaning supplies? Many cleaners are harmful and expensive. But you can make household cleaning products easily.
Take Care of Your Appliances
Repairing kitchen appliances is expensive. Most repair technicians charge $50-150 an hour, plus a service charge of $50-100 just to show up. Add in spare parts and emergency fees, and the bill becomes larger. HomeAdvisor found that, on average, it costs $174 to improve kitchen appliances.
The good news is that you can easily extend your kitchen appliances’ life.
If you currently live alone, you can find a roommate. This will help you split the rent, the bills and perhaps share other costs of living.
Negotiate With Your Landlord
Having been a landlord for over two decades, I can let you in on our little secret – most of us just want stability. Landlords certainly want to know they’re going to get the rent they are owed. They also want the confidence that tenants maintain the house properly. Landlords are willing to negotiate rent if you give them a reason to.
Refinance Your Mortgage
It’s tough to refinance your mortgage right now with rates rising. But refinancing a mortgage can save you money quickly if you consolidate debt into your mortgage. Another strategy is to extend the life of your mortgage.
For example, if you have 18 years left, you could refinance to another 30-year term. Be careful with the strategy, though, because you may end up spending much more over the life of the mortgage.
Try To Fix Things Yourself
You can save some money by fixing the stuff that breaks. You can fix almost anything online thanks to YouTube and sites like HomeTalk.
Appeal Property Tax
Did you know you can appeal your property tax? There are law firms that will do the appeal for you. Often if they win, they get paid half of the savings. If they lose, then you pay them nothing. You can also represent yourself.
Save Money on Banking and Insurance Policies
Set up Automatic Deposits
One of the easiest ways to save money quickly is to set up direct deposits. Doing direct depositing of funds helps shift the mentality that savings and spending are two different needs.
Shop Around for Insurance
Shopping around for insurance is an easy way to cut expenses. Sometimes you can find more savings as a customer. Bundling different insurance plans can save you even more. Insurance companies generally rotate which ones have the lowest premiums depending on where they are in their loss cycles. So shop around.
Get Out of Debt
Stop wasting money on interest and fees. Pay off your debts.
Put a Spending Limit on Your Card
Set personal limits on your credit card balance. It will prevent overspending and encourages the person to reevaluate their daily expenditure at the earliest opportunity. Most banks provide such services.
Save On Recurring Expenses
Cancel Unnecessary Subscription Services and Memberships
Look at all of your subscriptions and memberships. Cancel some. You can set up a credit card account for recurring expenses. That helps you track and easily see opportunities to trim back.
Cut Back on Your Utility Bills
Another excellent tip for saving fast is to use less water and electricity.
Buy Cloth Diapers
Disposable diapers cost four to five times more than cloth diapers for one child. The expense is even more dramatic if you have more than one child. If you have little kids, save money on diapers by buying cloth diapers instead of disposable ones.
Save Money Fast
There are many ways to save money quickly. The general theme with the tips listed here is to slow down. Focus on buying what you need, find coupons, and be conscious about spending less.This article originally appeared on Wealth of Geeks.
