A side hustle is a part-time job or gig that is taken on in addition to a person's primary job, and that is typically pursued for extra income or for personal fulfillment. Side hustles can be full-time or part-time, and they can be pursued in a variety of fields, such as freelance writing, tutoring, ridesharing, or selling products online.

Side hustles are popular among millennials, who often seek flexible, freelance, or gig-based work in addition to their primary jobs. Side hustles can provide extra income, allow people to pursue their passions, and give them the flexibility to work on their own terms.

1. Freelancing

Freelancing allows you to offer your skills and services on a contract basis, and to work with multiple clients on a variety of projects. Popular freelancing jobs for millennials include writing, editing, graphic design, web development, and social media management.

2. Blogging

Blogging is a popular side hustle for millennials who are passionate about a particular topic or niche. By creating and maintaining a blog, you can share your ideas, experiences, and insights with a wider audience, and potentially earn money through advertising, sponsorships, and affiliate marketing.

3. Selling products online

Online marketplaces such as Etsy, eBay, and Amazon allow you to sell your handmade, vintage, or unique products to a global audience. You can create and sell a wide range of products, from art and crafts to clothing and accessories, and earn money from your sales.

4. Ridesharing

Ridesharing platforms such as Uber and Lyft allow you to use your own car to provide rides to passengers in your area. You can set your own schedule and earn money by driving passengers to their destinations.

5. Teaching or tutoring

If you have expertise in a particular subject or skill, you can earn money by teaching or tutoring others. You can offer your services online, in person, or through a platform such as Udemy, and earn money by helping others learn and improve.

How much can you earn with a side hustle

The amount of money you can earn with a side hustle can vary depending on a number of factors, such as the type of side hustle you choose, the amount of time and effort you put into it, and your skills and experience. Some side hustles, such as freelance writing or tutoring, can earn you several hundred dollars per month, while others, such as selling products online or providing ridesharing services, can potentially earn you several thousand dollars per month.

To determine how much you can earn with a side hustle, it's important to research your options and understand the potential income and opportunities available. Look for side hustles that align with your interests and skills, and that offer good earning potential and flexibility. Consider factors such as the demand for your services, the competition, and the potential for growth and expansion, and use this information to set realistic and achievable income goals.

Final thoughts

Overall, there are many side hustles that are popular among millennials, and the best one for you will depend on your interests, skills, and availability. By exploring your options and choosing a side hustle that aligns with your goals and values, you can earn extra money and gain valuable experience.

The post Top Side Hustles for Millenials in 2023 appeared first on Digest Your Finances.

Having your first job can be a rewarding and challenging experience. It's an opportunity to learn new skills, gain practical experience, and earn money, but it can also be stressful and overwhelming at times. With that said, how do you best pick your first job? Let's go over that.

Challenges of your first job

One of the biggest challenges of having your first job is adjusting to the new responsibilities and expectations. You may be asked to perform tasks that are unfamiliar to you, or to work under tight deadlines and high pressure. It can be difficult to learn the ropes and to get up to speed quickly, but with time and practice, you will gain the skills and confidence you need to succeed.

Another challenge of having your first job is managing your time and balancing your work and personal life. You may have to adjust your schedule and priorities to accommodate your job, and you may have to make sacrifices in order to meet your responsibilities. It can be difficult to find a good balance, but it's important to prioritize your well-being and to take care of yourself.

How to write a resume

Writing a resume can be a challenging and time-consuming task, but it's an essential part of the job search process. Your resume is a document that summarizes your education, experience, and skills, and that presents you in the best possible light to potential employers.

Here are some tips to help you write a successful resume:

1. Start with a clear and concise format: Your resume should be easy to read and navigate, and it should highlight your key skills and experiences. Choose a clear and concise format, such as a reverse chronological format, which lists your most recent experience first, and use bullet points to make your resume easy to scan.
2. Tailor your resume to the job: It's important to tailor your resume to the specific job you're applying for. Research the job requirements and highlight the skills and experiences that are most relevant to the position. Avoid generic or irrelevant information, and focus on the things that will make you a strong candidate for the job.
3. Use keywords and phrases: Many employers use applicant tracking systems (ATS) to screen resumes and identify potential candidates. To make sure your resume gets noticed, use keywords and phrases from the job description in your resume. This will help the ATS recognize your skills and qualifications and increase the chances that your resume will be seen by a human recruiter.
4. Proofread and edit carefully: Before you submit your resume, make sure to proofread and edit it carefully. Check for spelling and grammar errors, and make sure your resume is clear and concise. Ask a friend or family member to review your resume and provide feedback, and make any necessary revisions to ensure your resume presents you in the best possible light.
5. Save and send your resume in a professional format: Save your resume in a professional format, such as a PDF, and avoid using fancy fonts or graphics that could make it difficult for employers to read. When submitting your resume, follow the instructions in the job posting, and make sure to include any relevant cover letter or supporting documents.

By following these tips, you can write a successful resume that will help you stand out from the competition and get noticed by potential employers.

How to pick your first job

Choosing your first job can be a challenging and exciting experience. Here are some tips to help you make the best decision for your career:

1. Identify your goals and interests: Before you start looking for a job, it's important to think about your goals and interests. What are your long-term career aspirations? What are you passionate about? Understanding your goals and interests will help you narrow down your job search and find a job that aligns with your personal and professional goals.
2. Research different industries and companies: Once you have a better idea of your goals and interests, start researching different industries and companies to see what opportunities are available. Look for industries that are growing and offer good job prospects, and research companies that align with your values and interests.
3. Consider the location and commute: When choosing your first job, it's important to consider the location and the commute. Will you be able to get to work easily and affordably? Is the location convenient and accessible? These factors can impact your overall job satisfaction and quality of life, so be sure to consider them carefully.
4. Evaluate the potential for growth and development: When choosing your first job, it's important to look for opportunities that will allow you to grow and develop your skills and experience. Consider whether the job will provide training, mentorship, and opportunities for advancement, and look for companies that invest in their employees and offer career development programs.
5. Pay attention to the culture and values: The culture and values of a company can have a big impact on your job satisfaction and overall experience. Look for companies that align with your values and that have a positive and supportive work culture.

Final thoughts

Overall, having your first job can be an exciting and rewarding experience, but it's also important to be prepared for the challenges and sacrifices that may come with it. By staying focused, organized, and positive, you can overcome the challenges and make the most of your first job.

The post How To Choose Your First Job appeared first on Digest Your Finances.

Taking a loan from your 401k can be a super low-cost way of getting funds when you urgently need them! Unlike getting a personal loan or using your credit card, the ability to borrow from your 401k is much simpler!

Essentially, it was coined with the term "borrowing from yourself" since all interest and payments are made back into your 401k.

Although it's relatively simple to get a loan from your 401k, there are certain rules and disadvantages you need to know before doing so!

How much can you borrow?

As awesome as it would be to borrow your entire 401k balance, there are limits to how much you can actually borrow.

The maximum amount you can borrow is typically 50% of your vested account balance. So for example, if you have $30,000 vested in your 401k, you can only borrow up to $15,000. Other retirement plans can have different limits and depending on your employer, can also have restrictions on when you can actually take out a loan.

When does the loan have to be repaid?

Once a loan has been taken out, your repayment will be through payroll deductions. So basically, the payment is taken directly out of your paycheck. Typically, 401k loans should be paid back within 5 years. There may be some exceptions with the repayment period, so make sure you ask your employer first.

Interest payments

Just like any loan, no money you borrow is free (even if you borrow from yourself). The interest rate on your loan is typically determined by the plan administrator and the current economic prime rate. This interest is paid to yourself since you're essentially borrowing from yourself.

Advantages of taking a 401k loan

Here are the top 3 reasons to look into taking a 401k loan:

1. Easy to qualify for the loan

Unlike a traditional loan from a bank, getting a 401k loan can be quick and easy without requiring credit checks, employment history, and any of that long red tape.

It can be as easy as a few clicks and have the loan funded into your account in a matter of a few days.

2. Low cost

Other than the origination cost and admin fees that may apply, it won't cost you much to get a loan. Unlike banks that ensure they make a profit first, the fees you pay may end up being high.

Whereas, getting a 401k loan from your own 401k balance, the fees are very minimal, thus saving you some extra cash in the end.

3. Interest is a good thing

Just like any loan, when you borrow from your 401k, there is an interest payment added to your repayment. However, the cool thing is, that you're basically paying the interest to yourself!

A potential perk to this is that if you borrow from your 401k during an economic downturn, your retirement could actually benefit even further from the interest you are paying yourself as opposed to the losses you would've incurred instead.

Disadvantages of a 401k loan

Alright, now we have to look at the top 3 disadvantages of a 401k loan:

1. You can't change jobs

Here's the biggest caveat of taking out a 401k loan. If you leave your employer and have a balance on your loan, the entire balance will become due!

That means, if you borrow $15,000 from your 401k and pay it down to $12,000, the entire $12,000 becomes due once you leave your employer. If you fail to pay it, you will pay income tax and a hefty penalty. Something to seriously consider.

2. Missing out on employer-matched contributions

If your employer offers contribution matching, you will also miss out during that time you are repaying your loan. Loan repayments are not considered 401k contributions, so no payments that you make will be matched by your employer.

3. Missing out on growing your retirement

Another important thing to think about is missing out on growing your 401k. According to Fidelity, the average 401k balance is $13,200 and the Median is $5,000. A far cry from what one would need to retire. Retirement planning is an important thing to really think about.

When you take a loan out of your 401k, the funds you are using are missing out on the potential interest it would earn and basically robbing your future self. This is less of an issue the younger you are, and more of a concern the older you get.

Final thoughts

There are strong arguments that can be made regarding 401k loans (whether they are a good or bad idea). Ultimately it will depend on the individual and their situation.

It is good to consider if:

• Funding emergency expenses
• Cannot qualify for any other kind of financing
• If you are young and have enough to catch up
• If it's a small amount

However, it might also be a bad idea if

• You're nearing retirement
• If it's not an urgent expense
• If it's a substantial chunk of your 401k balance
• If you haven't exhausted every other option

These are just a few things to consider but ultimately, it all depends on your retirement goals and other savings you might have :)

Remember to just be responsible and take your retirement top of mind.

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The post What You Should Know Before You Borrow from your 401k appeared first on Digest Your Finances.

If you have found yourself in a situation where debt collectors are hounding you for debt, you know how Relentless they can get. Creditors and collectors typically won't call you about debt unless you've missed enough payments without settling your debt. If that's the case, can a debt collector call you at work?

Although the answer might seem obvious, unfortunately, it is not illegal for debt collectors to do so. Let's investigate further and see what a debt collector can and cannot do.

Can a debt collector call you at work?

Yes, they are no legal restrictions that prevent a debt collector from calling at work. However, the FDCPA prohibits debt collectors from calling your job if the collector has reason to know that your employer forbids these types of calls.

The Consumer Financial Protection Bureau issued a final rule amending Regulation F, which implements the FDCPA, to clarify how collectors may use texts, emails, and use other forms of digital communication, like social media, to contact you, including at work. The rule explains how the FDCPA's protections apply to digital communications and gives consumers the ability to unsubscribe from debt collectors' electronic messages. It also describes how collectors may use voicemails and limits how often debt collectors can call you. The final rule becomes effective on November 30, 2021, one year after publication in the Federal Register.

https://www.consumerfinance.gov/

Can a debt collector contact your employer?

Yes, a debt collector can indeed contact your employer or your HR department. When a debt collector does this, they are only allowed to do two certain things:

• They are calling to verify your employment
• They are calling to request your contact information and address

Debt collectors are only allowed to contact your employer for these two things. Anything else it's not allowed. For example, they cannot ask an employer to garnish your wages. Only a court-ordered action allows this.

To summarize, they can only contact your employer to verify who you are and to confirm employment. That's it.

Does my state prohibit debt collector calls at work?

Outside of the two examples I have given above, you'll local and state laws might have additional protection laws from both debt collectors and creditors. It's always a good idea to check with you or local state laws or State Attorney General to find out what is legal in your state.

Since these laws vary from state to state, you can do this to figure out what is allowed and not allowed in your own state.

What if they keep contacting me at work?

If the debt collectors keep calling you and distracting you while you're at work, the FDCPA can protect you from this as well. If you are not allowed to receive any personal calls during work, you should tell the debt collector that. Make sure you take note of the date, time, and document this conversation.

If the debt collector continues to harass you even after stating this to them, then they would have violated the law. In this case, make sure you file a complaint with the FTC. Once that's done, they will conduct their own investigation and act accordingly.

Another option is to provide them with a cease-and-desist letter, basically stating that you would not like to be contacted again by them.

Who else can a debt collector contact?

Legally, a debt collector can discuss your debt with your spouse or your attorney. Anyone else is really not supposed to know your debt situation and get contacted by a debt collector. This includes bosses, clients, workmates, friends, relatives, etc.

In the instances that they do contact people outside of your immediate family or attorney, they may be violating the law. In these cases, make sure to also file a complaint to the FTC. You might also have legal protection against this kind of behavior.

Final thoughts

Getting contacted and harassed by debt collectors is a headache and extremely uncomfortable. This is especially true when they start contacting people other than yourself to collect the debt. Some of this behavior is outright illegal, so make sure you know your laws and rights.

Wish you all the best, and if you have any experience you'd like to share, feel free to comment below.

The post Can A Debt Collector Call You At Work? appeared first on Digest Your Finances.

Wearing the cap at your graduation is such a huge accomplishment! All those assignments and tests are done, but a whole new phase of adulthood begins! But a good question to answer would be what are the best credit cards for new graduates?

While it might be difficult to navigate the world of credit cards, finding the right card for your particular preferences and lifestyle might be difficult if you're just graduating and looking for a good start. There are 3 categories we're going to look at today. The cards you should get depend if you have Good Credit, Okay Credit, and Bad Credit.

We've gone ahead and researched that for you, so here are the Best Credit Cards you can get today for Recent Graduates.

With Excellent Credit

According to myFICO.com, excellent credit is a score of 740+. A score equal to or greater than this typically gets you the best credit cards, best interest rates, and treated sorta like royalty! So let's take a look at what credit cards you should consider as new graduates.

1. Chase Freedom

The Chase Freedom card is an excellent starter card that offers an awesome $100 sign-up bonus after spending $500 in the first 3 months of owning it. This is great if you have utilities and there are ways to use a credit card to pay rent too! It offers 1% cash back on all purchases and 5% cash back on certain categories. Definitely check it out.

Apply Here

2. Citi Double Cash

The City Double Cash Card is another great option if you want cashback on the money you're going to spend anyway! It offers 2% cashback on all purchases. The card also offers higher rewards on rotating categories like groceries and gas, but it's definitely one of the best cards to get out there for every single purchase you make. Its simple model of earning cashback makes it super easy to understand and easy to manage!

Apply Here

3. Discover it

The Discover it card is one of the best in this category regarding customer service. Similar to Chase Freedom, you earn 1% on all your purchases and earn 5% on certain categories.

For beginners, it also has no late fees for your first late payment and also keeps your interest rate from going up. This is excellent as it's rare to find other cards that offer such leniency to newcomers in the credit card scene.

Apply Here

With Good Credit

Next up, we should look at cards to consider when you have Good Credit. According to myFICO.com, good credit is a score between 670-739+. A score in this range won't get you the very best interest rates but you'll definitely get pretty good rates and access to most credit cards. So let's take a look at what cards you should consider.

1. Bank of America Cash Rewards

The Bank of America Cash Rewards credit card for Students is very unique in its cash rewards earning structure. The cardholder can select which category they want to earn a 3% bonus on purchases each month including gas, travel, and furniture stores. The card also earns 2% cash back on grocery stores and 1% cash back on every other purchase.

This card also offers a decent sign-up bonus of $200 after spending $1,000 within the first 90 days of opening the account.

Apply Here

2. Capital One® QuicksilverOne® Cash Rewards

The Capital One® QuicksilverOne® Cash Rewards Credit Card gives you 1.5% cash back on every purchase. The only big thing to take into consideration is an annual fee of $39.

While many cash-back cards restrict how and when you can redeem cash back, the Capital One® QuicksilverOne® Cash Rewards Credit Card allows cardholders to redeem in any amount at any time. You can even set up auto-redemption, where cashback is automatically applied as a statement credit when it reaches a certain threshold ($25, $50, $100, or $200).

Apply Here

With Low or No Credit

Lastly, let's look at a low or no credit score. Typically, these are the credit cards I would recommend if you either have no credit score at all or have a bad score you want to rebuild.

If this is your very first credit card as a new graduate without any prior credit, then these credit cards would be the best option to start with. Let's check these out.

1. Discover it® Secured

The Discover it Secured card is the first on the list as it's probably one of the best Secured Cards out there if you're trying to build your credit. The Discover it Secured card allows you to establish your credit line with a slightly smaller than average deposit. The Discover it Secured card lets you start an account with as little as $200.

The card offers 2% cash back at gas stations and restaurants (up to $1,000 in purchases per quarter)  and 1% cash back on all other purchases. It also matches all your cashback in the first year of owning the card. Definitely a good starter card.

Apply Here

2. Credit One Bank® Visa® Credit Card

The Credit One Bank® Visa® Credit Card is a bit unique with credit-building cards. In most cases, credit-building cards require a security deposit of at least $300 and only match your initial credit limit to what you contribute. But with the Credit One Bank Visa, you don’t have to make a deposit and will receive a minimum credit limit of $300.

It might not be the highest limit to receive at first, but it definitely helps when opening a new card to build your credit. If you make your payments on time, you should be able to increase your limits periodically without being required to make a big deposit.

Apply Here

3. Capital One® Secured Mastercard®

Lastly, the Capital One Secured Mastercard is an excellent card that you can use when you are trying to build up your credit and has very excellent perks. It has an extended warranty, car rental insurance, travel accident insurance, 24-hour travel assistance, 24-hour roadside assistance, and price protection. All the features you wouldn't expect to see on a Secured Card.

Another awesome perk is that it has a low-security deposit requirement of $200 or less. This is still quite a low requirement for most secured cards out there. The security deposit can be paid over time and is fully refundable if you close your account or once you qualify and move on to an unsecured card with Capital One.

Apply Here

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The post Top 8 Best Credit Cards For Recent Graduates in 2022 appeared first on Digest Your Finances.

Ladies and gentlemen, if you told me 10 years ago that you could get paid to literally walk, I would NOT believe you one bit! I mean, how? Well, the year is 2021 and yes, there are apps you can download that pay you to walk. Seriously! :)

If you are reading this, then you are in one of two camps. Either you enjoy walking and wondering if you could make some extra cash doing something you already enjoy doing! Boom, just made it that much better!

On the other hand, if you're like me, then you don't enjoy walking and wondering if there is something out there that can incentivize you to walk more. Hey, how about if an app paid you to walk? Would you do it then? I think so!

Without further ado, here are the top 10 apps that pay you to walk. No, seriously!

1. SweatCoin

Let's start this list off with the most popular app on this list. SweatCoin pays you when you walk. When you take 1,000 steps outdoors, you are rewarded 0.95 SweatCoins. This is the in-app currency that SweatCoin uses.

You can redeem these coins for various things from within the app. The marketplace has dozens of offers that are constantly changing. These offers range from online memberships, gift cards, food gifts, electronics, clothing, app downloads, music downloads, and more! This only makes it that much more exciting, so get these apps that pay you to walk!

2. Achievement

Next on the list is another very popular app, Achievement. This fitness app rewards you not only for walking but for other activities like biking, meditating, swimming, logging your meals, and much more!

As you earn points for these activities, you can redeem these points for gift cards or cash via PayPal. To redeem these points, you should earn 10,000 points (equivalent to $10).

They also offer a referral program and health studies that can pay participants up to $100 - $200 per study! Definitely worth taking a look into.

3. myWalgreens

This one isn't as well known, but Walgreens actually has a program that pays you for walking! As one of their ways of promoting healthy wellbeing, they offer myWallgreens (formerly known as the Walgreens Balance Rewards Program).

At the time of writing this, you earn 20 points for each mile you walk. As you earn points, these points can be redeemed when you make purchases at Walgreens. So instead of getting paid in actual cash, it will make shopping at Walgreens that much cheaper.

4. Charity Miles

This one is a bit different than the rest. Instead of actually earning cash yourself, your earnings are used to support a worthy cause financially. If you want to be philanthropic without breaking your own bank, this is a fantastic alternative.

Charity Miles uses GPS and motion sensors on your phone to monitor your daily activity such as walking, running, or biking.

They support over 40 different charities to that you can choose to donate your rewards too. They have received more than $2.5 million to date!

5. FitPotato

If the cute potatoes don't convince you to give this app a go, then maybe the money will :) FitPotato features weekly competitions and prizes that you can participate in. You can also challenge other members of the app to a weekly walking or exercise session.

To join these weekly challenges, you must put a bet on yourself to win (usually $5). This bet will become part of the winning pot (which is usually $1,000). If you manage to complete 3 sessions as the challenge states, you will get a share of the pot!

6. LifeCoin

LifeCoin rewards you every time you walk or run. This app functions very similarly to SweatCoin. As you earn LifeCoins throughout the use of the app, these coins can be redeemed for Gift Cards to stores such as Amazon or iTunes.

You can also opt to redeem your coins as PayPal cash or physical products. Items like Apple Airpods, Beats Headphones, and so on can be redeemed. These products change over time so depending on when you redeem them, the items may be a bit different.

7. Lympo

Lympo is a bit interesting. It rewards you as you walk in cryptocurrency! They pay you in LYM, which is a type of cryptocurrency. A great perk of this app is that it allows you to earn rewards both indoors and outdoors. There is no restriction there.

For ease of use, they allow you to connect to a variety of health tracker apps on your phone for easier tracking.

8. StepBet

Feeling confident in your fitness abilities? How about you bet on yourself? With StepBet, you bet on yourself with real money that you'll be able to reach your step goals.

If you don't achieve your goals for any of the weeks after the first week of starting, you lose your money and you're out of the game. You'll have to bet on yourself again to start over! At the time of writing this, you bet $40 for each game period. Having some skin in the game can be very motivating!

9. MapMyFitness

MapMyFitness has a variety of apps that reward you for walking and or running! These apps include MapMyRun and MapMyWalk. Neat names, am I right :)

There are a variety of challenges within the apps that you compete with other members of the app and potentially win fun prizes. You don't earn actual cash, but you can win physical products (typically related to Under Armour).

The apps will connect to your phone sensors or Fitbit easily. 

10. PK Rewards

To close off the list, PK Rewards is an app that will not pay you to walk but rewards you for exercising as well. A really cool feature is that each exercise has an effort score, so the more effort you put into your exercise, the more points you will earn!

These points can be redeemed for various prizes from places like Nike, Amazon, and much more!

The post Top 10 Apps That Pay You To Walk… Seriously appeared first on Digest Your Finances.

Gone are the days when we all had to buy CDs and vinyl to listen to music. Don't get me wrong, all these different formats still exist and are still a pretty cool way to enjoy music. Nowadays, streaming services are basically the new standard. With so much variety and choice, which apps are the best free music streaming apps out there?

Instead of downloading every single one of these music streaming apps out there, and hoping to find one that is actually good, I'm going to save you some time :)

If you've got a smartphone and internet access, here are some fantastic free music streaming apps that I'm sure you'll enjoy!

1. Spotify (Free)

Let's start with the king of the jungle! Spotify is definitely the most popular and well-known music streaming service out there. In the first quarter of 2020, Spotify reported having well over 286 million monthly active users. That's a lot of users, thus boosting its popularity.

Spotify offers a free account where you can listen to pre-made playlists and radio stations based on your preferences and artist of choice. They offer a premium account that allows you to listen to any song you want, skip as many songs as you want, and even download songs to your phone.

2. Pandora (Free)

Pandora is probably one of the older streaming services on this list. It's been around for a while and has garnered hundreds of millions of downloads as well.

I personally enjoy how well it mixes radio stations based on my preferences, artist, and maybe a favorite album. Although I have a premium Spotify account, I also use Pandora when I want to listen to some good radio. Definitely a close second to Spotify.

Pandora also has a premium version that allows you to have unlimited skips, no ads, and also allows you to download music to your device to listen offline.

3. Amazon Music

If like me you already have an Amazon Prime account, then congratulations, you also have an Amazon music account. Amazon Music works similarly to how Spotify works, allowing you to search for your songs, and listen to your Auto-generated radio stations based on your interest.

The great thing is, if you already have an Amazon Prime account, you don't have to set up totally different accounts to use this. It's part of your regular Amazon Prime account.

So, although it's not technically free (since you need an Amazon Prime account), you don't have to pay extra to have it :)

4. iHeartRadio (Free)

iHeartRadio is among one of the most popular free music streaming apps out there. It's basically a radio app where you can listen to various music stations based on your personal tastes and preferences.

Another cool thing is it offers AM and FM radio stations based on your location so you could also even listen to you the news and Sports Broadcast. Pretty awesome features.

It also offers a premium account for additional features and no ads, but the free version works just fine. Easily turn your smartphone into a little radio :)

5. YouTube Music (Free)

I'll end the list with the Behemoth that is Google. I'm pretty sure you've heard about YouTube, so this is no surprise.

On YouTube, you could most likely find every single song, every single band, and every single performance that has ever existed. Although YouTube is geared towards videos, you can still listen to some great music on it for free.

Within the YouTube app itself, it's able to create an auto-generated playlist based on a particular song or genre that you want to listen to. Although it's free with ads, you can opt to pay for YouTube premium that allows you to play music in the background and doesn't have ads.

This is totally optional as the free alternative is just as good.

Final thoughts

If you go to the Google Play Store or Apple App Store, you will likely find hundreds of free music streaming apps out there. Sure, they might all have their little Quirk and feature that sets them apart, but these apps listed are definitely the best on the market.

So take a second and check them out. They are free after all :)

The post Top 5 Best Free Music Streaming Apps of 2022 appeared first on Digest Your Finances.

As the digital revolution continues to grow, a new question has started to arise. Has internet access become a fundamental human right at this point? Just like water, electricity, and a home, the internet has now become essential for everyday living. The internet has touched every aspect of our daily lives. This is where the Affordable Connectivity Program comes in.

In this article, we will go over the Affordable Connectivity Program. Who qualifies for it, and how do you apply for this program.

What is the affordable connectivity program?

The Affordable Connectivity Program (ACP) is a U.S. government program that helps many low-income households by providing discounts. These discounts are up to $30 for internet service and equipment costs. Qualifying households may also receive a one-time discount of up to $100 to purchase a computer or tablet from participating providers.

20 leading internet providers in the U.S. have joined this program. They offer high-speed internet plans for no more than $30 per month and discounts on equipment purchases. This program is run by the Federal Communications Commission (FCC).

Who qualifies for the affordable connectivity program?

To qualify for this program, there are a few requirements that need to be met. You would need to meet at least one of the following requirements:

• Income at or below 200% of the Federal Poverty Level
• Participates in other Government Assistance Programs, Supplemental Nutrition Assistance Program (SNAP), Supplemental Security Income (SSI), Lifeline, etc
• Granted the Federal Pell Grant during the current award year
• Receives benefits under the free and reduced-price school lunch program

These are just the most common requirements, but your mileage may vary. I know everyone's situation may differ, so it's always a good idea to check the most recent requirements to see if you are eligible.

How to apply for the affordable connectivity program?

In order to apply, you would need to submit an application on the official affordable connectivity program website, affordableconnectivity.gov. You can submit your application online, or by mail, if you prefer.

You should also contact your preferred provider to see if they have a participating plan in their program. As mentioned above, 20 leading internet providers in the U.S. have joined this program, but not all. Your mileage may vary, depending on your location.

Final thoughts

This program is intended for those that don't have high-speed internet access or struggle to afford it. High-speed internet access has become essential. It's basically required in school settings, when applying for jobs, paying bills, accessing the news, and more!

If you need high-speed internet access or know someone struggling to afford it, this program might just help! Make sure you let them know of this program and utilize it.

The post Affordable Connectivity Program: What Is It and Who Qualifies appeared first on Digest Your Finances.

You would think that by having a personal finance blog, and all the stories that I share about my journey and personal finances, I would be some sort of gifted and intelligent personal finance guy! On the contrary, I am probably no different than you are! I myself also had to overcome my fear of personal finance.

I was never a straight-A student. I was never top of my class. As a matter of fact, in college, I would blow the little money that I had on tablets computers, and cell phones. I graduated with relatively low grades in high school and I was really never directly taught about personal finance at home or at school.

But over the years, I took the time to work on my fear of personal finance and educated myself to understand this world.

Simply put, I am not some super well-educated or somehow naturally gifted. Instead, I like to think of myself as willing to learn, and putting my future above anything else!

The honest truth

At the time of writing this, I am 28 years old, own several properties, blog how about personal finance, and have secured not only a wonderful career but passive income as well.

Now that you have the entire picture of me, it's easy to see that in order to achieve what I have or even a whole lot more, you don't need to be gifted, Highly Educated, or very talented.

Personal finance, passive income, and financial Independence can all be learned by anybody! Yes my dear reader, even you.

What does it take?

In order to learn all about personal finance and to overcome the fear of understanding personal finance, it takes more than just having a high income, reading books, or even taking courses. None of these things on their own are enough to reach Financial Independence.

I'm sure you've heard all the stories about those earning well over six figures but still living paycheck-to-paycheck. I'm also sure you know people that have a Master's and doctorate's also living paycheck-to-paycheck. Heck, I even personally know people that have grown up with very wealthy parents but only to struggle with their finances.

So if it's not any of those things, then what is it? Well, there are probably five things that you need to understand and take steps towards.

1. How bad do you want it?

Personal finance, high income, or even early retirement, all depend on how bad you want to achieve them! Let's pretend that the latest iPhone just came out! The phone costs well over $1,000 but you wanted it really really bad! What are you doing? If you have the money, you probably just go ahead and withdraw $1,000. But if you don't have the money, you just whip out your credit card, buy the phone, and make payments on it. See how that works? You wanted that phone bad enough that you were willing to get into debt to get it.

Better yet, imagine how many millions of people play the lottery every single month. The odds of winning the lottery are zero to none, but yet so many people continuously play over and over again. They want to win so so bad, that they are willing to spend thousands and thousands of dollars in their lifetime in order to get it.

It is the same as reaching Financial Independence or understanding personal finance. It all depends on how much you're willing to work for it and how bad you want it. None of it is easy. But then again, since so few people understand personal finance and are willing to work towards Financial Independence, it must not be that easy.

So, to beat the fear of personal finance, you must ask yourself and understand just how bad you want it. The more you want it, the more you are willing to work towards it.

2. Control your spending

Did you know that one in three Americans are in debt? Debt is the number one killer of personal finance and financial Independence. All those shoes, gadgets, and super expensive experiences, are they really worth your future?

As I mentioned above, I definitely wasn't disciplined earlier in my life. I used to work in my College cafeteria as a dish cleaner. I would earn my $200 every two weeks and completely spend it on electronics. How I wish I could go back and tell myself what a waste of money it is, and how much you're taking away from your future self.

Similar to how Americans spend money on new cars, they are literally taking money from their future selves and burning it. Just take a day to look yourself in the mirror and ask yourself if you are making wise financial decisions. All those unnecessary purchases I'll probably be super fun in the moment, but future you will probably regret a majority of them.

The fear of personal finance is directly tied to the fear of facing the truth. It's all fun and games now, but if you don't learn to control your own finances and control your spending oh, you will lose every single time. Guaranteed.

3. Save and invest

Statistically, Americans are unable to make a $1,000 purchase without getting into debt. That's a staggering statistic. This basically means that the majority of Americans do not believe in or just have not prioritized having an emergency fund. That probably also means that majority of Americans do not invest either.

Saving and investing are two of the greatest pillars when it comes to understanding your own personal finance and reaching Financial Independence. Saving money is simple. It's called having a budget. Investing money is also simple, requiring nothing but as little as $5 a month to start investing.

There are loads of programs out there such as a 401k or Roth IRA that give everyone an opportunity to invest their money for their future. So simply put, you need to understand why saving and having an emergency fund is absolutely critical and Paramount to overcoming the fear of personal finance. It is also just as important to invest your money for your future. Future you will thank you!

Final thoughts

How about I in this with another statistic! The majority of individuals that read this article will leave here and continue living their lives the same as before they read this. Now, I understand how difficult it is to somehow flip a switch in your mind and all of a sudden work towards these ideals.

However, there is probably one or two people that will take heed of everything they read and take action. All of this will take time and effort, but as I told you at the beginning, you don't need to be a brain surgeon or a rocket scientist to work towards understanding and overcoming the fear of personal finance.

Getting into debt, not investing, and carelessly spending digs yourself into a hole. The deeper the hole, the harder it is to dig out of. Too many of us refuse to take a close hard look at ourselves and face the problems head-on. Instead, be brave and take it on with courage!

If a 28-year-old from Africa invests in his future, generates passive income, and earns a substantial income, then I know for sure you can too!

Good luck!

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The thing with money is that it's very easy to miss manage it. Once one starts to miss manage money, it's easy for it to spiral out of control. This then leads to people being in financial ruin and not being prepared for their future. So I created this extensive list to show the most common money mistakes and how to avoid them

1. Not having health insurance

I'm going to start off with something that most people probably didn't realize. Do you know what the leading cause of bankruptcy in the United States is? You guessed it! It's medical expenses!

Statistically, 66.5% of all bankruptcies were related to medical issues. Now I get it, medical emergencies aren't something to take lightly. The reason they call it an emergency it's because you don't see it coming. It's the lack of preparation that gets you into a lot of trouble.

Having health insurance could help so many of these bankruptcies. If you were in a car accident and I needed surgery costing well over $150,000, chances are you don't have that much lying around somewhere. This is where health insurance comes in. It helps cover a large portion of that medical expense. Some insurance policies actually cover the entire cost.

If you do nothing else on this list, make sure you do this! Yeah insurance is not fun, but it's definitely the responsible thing to do for yourself in your family. This tops the common money mistakes people need to avoid, hands down.

2. Not negotiating for certain items and services

Since I'm already on the roll let me throw in another item not really talked about often! Price Negotiating.

There's a negative connotation given to the idea of haggling prices. It might also be a cultural thing. The reason I say that is because since I was born and raised in Zimbabwe, haggling for prices of items and services it's the norm. When I came to the United States, I still had that in me. I've always believed that anything with a price tag can be negotiated. I found that to be true.

There are loads of times I've been in the store or working with a plumber or electrician for example. I would ask for a quote for a particular item or service and try to negotiate the price. 70% of the time I would get a lower than the listed price! 70% means the majority of the time! Those are some good statistics!

If that's true for me, then it's probably true for you if you tried. You lose Nothing by asking, but you stand to lose more by not asking! It's always good to keep in mind and try to negotiate when you can.

3. Not having an emergency fund

You can't always prevent an emergency but you can always be prepared for one! It's human nature to think that bad things only happen to other people. Chances are, those people thought the same thing.

Not having an emergency fund is financial suicide. Since you never know when an emergency might occur, everyone needs to be prepared. Your car might not start tomorrow, or you might hurt yourself and need an ER visit. These are emergencies.

Creating and saving up for any emergency isn't as hard as it might sound. Financial experts recommend that you have 3 to 6 months of an emergency fund saved up! Sure, that's easier said than done, so you can start off by saving up just $1,000 to cover any unexpected expenses!

I've written an article on exactly how you get started! This will save your financial future, trust me!

4. Not having a budget

If you've read a few articles on this blog did you know how important having a budget is? Having a budget is the absolute pinnacle when it comes to personal finance.

Have you ever got a paycheck and a few weeks later all the money is gone? I know I have and I'm certain that statistically, the majority of you have too. That's what happens when you don't have a budget. Having a budget means that you have control over your money. If you don't have a budget, then the opposite is true. Money then controls you. Now we don't want that do we?

this one is pretty easy to do too. All you have to do is add up all your monthly income and write down all your monthly expenses. Granted, it's a little bit more complicated than that but don't worry. I also wrote an article explaining how exactly you can get started budgeting for beginners. Make sure to also check that article out!

5. Spending on credit cards like it's free money

here is a wake-up call for some! Credit cards are not free money! Wait, what? Yep, you heard that right! The majority of people out there spend on credit cards like the money is free. Well unfortunately it's not.

I personally love credit cards! Especially premium credit cards that come with perks such as cashback and travel points. If used wisely, credit cards are a way to get free money from the money you would have spent anyway. When used incorrectly, it can be financially devastating.

If you own a credit card then, under no circumstances, are you to carry a balance month-over-month. The interest rates that come with credit cards are way too high! If you can't control your spending, or carry a balance month-over-month, then you might seriously consider cutting up your credit card. No seriously.

I have seen and read so many horror stories when it comes to credit cards. These things can be a gift or an absolute curse! So, as I said, if you pay off your credit card every single month then I have no problem with that. But, if you carry a balance month-over-month and pay interest on your purchases, then get rid of it!

6. Buying a car on a loan

This applies to both new and used cars! Figured I'd get that out of the way first. Buying a car on a loan is not financially smart. I am so certain that I'm not the first one to say this :) Now am I?

Pretended you just bought a new car for $34,000. According to Experian, this is the average cost of a new car! 34 Grand for four wheels? That's absolutely insane! Once you drive that new car off the lot, she immediately loses thousands of dollars. Literally thousands of dollars down the drain. You might as well have used it as toilet paper, at least it would have gotten some use!

If that's not bad enough, every day you keep it loses more and more value. So by the time you finish your 3 to 5-year payments on the car, it's with a fraction of what you paid for. God forbid you trade it in and lose even more money! It is definitely one of the top common money mistakes to avoid at all costs.

I've written an article on how you can buy a car without breaking the bank. You don't have to get a car loan. Sure, you probably hear people say that perfectly normal and everyone does it. I know I have. But that doesn't make it smart at all. So I avoid it at all costs.

7. Not saving for retirement

Do you know what the saddest thing is? I personally believe that it's regret. Can you picture yourself at the ripe old age of 70 without a dime in retirement? It's heartbreaking.

Let's get one thing straight. Social Security absolutely will not pay you enough to retire. The older you get, the more Health Care you need. Social Security doesn't even make a dent in that. Not to mention, you still need to pay for your everyday expenses like living expenses, utilities, etc. This, as the most common money mistake to avoid, might also have the most devastating effects long term.

The sooner you start saving for retirement, the more you will have. I get it, when you are young you don't really think about how far in the future retirement is. But the cold hard truth is that you are getting older day after day. Don't put this off!

Many employers offer a 401K plan. If yours does, you definitely need to be contributing to it. If it offers to match, then you 100% need to contribute enough for the matching. If you don't, you are throwing free money away! If you don't have a 401k or don't know if your employer offers one, stop right now and send an email to HR asking if they have it. Old future you will thank me!

8. Not being cautious when taking student loans

There is an epidemic happening when it comes to student loans. The cost of tuition has steadily gone up year over year. This means that more and more students can't afford to pay for college. Student loans come to the rescue!

You get free money to go to school and get your degree. Yay graduate! Then as soon as you start working, you have this huge loan you need to pay back. Ouch. It's a heavy cloud to carry when you are just starting out your adulthood.

Now all of a sudden you can't afford to get a mortgage or save enough for retirement. These shackles drag you down and slow down your progression through life. It's then super important to be cautious when taking out student loans. Education is indeed important but loans are not to be taken lightly.

Instead, try to apply for federal student aid and find out if you qualify for any grants that would help you pay for your tuition. Also, consider attending an in-state college. Look out for all opportunities that would minimize you getting student loans. Make sure you research everything and ask questions!

9. Not keeping an eye on your credit score

Do you know what your credit score is? If you do, congratulations! You are one of the few people out there that do! And that's not an exaggeration either.

The majority of people out there don't know what their credit score is. Add this one to the important common money mistakes to avoid, as it's one of the easiest to avoid. Since we live in a world where your financial health and responsibility are determined by a number called the credit score, then it's vital that you know what your score is. This helps you know what you qualify for when it comes to getting credit approval.

Things like getting a mortgage, setting up a utility account, or even if you are trying to rent, your credit score is taken into consideration, just to name a few. In that case, then, why would you not keep a close eye on something so important?

Services like Credit Karma offer free credit score checks. It doesn't even cost you anything! So if you don't know what your credit score is, then head over there and take a look. Make sure to check regularly.

10. Not having multiple streams of income

I saved the best for last :) Depending on one income it's not a good Financial strategy. If your primary and only income is your job, what happens if you lose that job?

As I mentioned earlier, it's human nature to want to live in the moment and not actively prepare for emergencies and what-if scenarios. Take a moment to think about it. If your employer suddenly decides to lay off employees, or go out of business, then you become stranded. Even if you had a small emergency fund, you will probably go through that pretty quickly. Then what?

Important to have more than just one source of income. It might sound difficult and intimidating, but anybody can do it! Things like blogging, driving for GrubHub, real estate investing, or even renting out a bedroom on Airbnb, are just a few examples.

Lucky for you, I've written an article on the top six creative ways to earn passive income. Check it out and see where you can get started.

Final thoughts

I know of so many other ways that people mismanage their finances. These 10 are just the most common money mistakes to avoid, but also the most devastating. Make sure to read this more than just once, and return to it to constantly remind yourself.

I have personally done every single one of these items on this list, but I took the time to realize the mistakes and fix them. Anybody can fix their financial picture, and get on the path to Financial Freedom. It's really not that hard, it just takes courage and determination.

I always say this to my peers, and I'm going to say it to you. If a little boy born and raised in Africa can do it, you can too! I have faith in you, good luck.

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Ah yes, the dream of owning real estate and earning a passive income. I remember a time (I was about 24 to be exact) when all I could think about was how do I buy a rental property? Chances are, if you're reading this, you're wondering the same thing younger me was too.

Buying a home you want to live in is very different from figuring out how to buy a rental property. Not only are the lending requirements different, but the mindset you should have should be totally different!

Let's talk a bit more about how I bought my first rental property, and what you can do to buy your first rental property.

Why rental properties?

Either the idea of owning rental properties excites you, or you are still wondering how and why would anyone buy a rental property (or real estate in general). Well, dear reader, here is exactly why.

For decades upon decades, real estate has been the biggest driving force in wealth generation and wealth storage. Forget banks or cash under your mattress, real estate is one of, if not the only type of asset that appreciates in value, earns you cash every month, is passive, and can be bought with someone else's money. Genius!

It's hard to undervalue the importance of real estate and the potential wealth it can bring you over time and the equity you build. You buy it once, and you can keep it forever! It's brilliant!

Steps to buying a rental property

Alright, now that we've talked about how incredible investing in real estate is, let's look at the steps you should take when you want to buy a rental property. This could be your first rental or your second, it doesn't matter.

The steps to take are generally the same, so let's take a look.

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1. Determine what kind of property you want

So the first step might seem simple, but it actually requires quite a bit of effort. Identifying a property depends on multiple factors:

• How much property can I afford?
• What kind of building is it? Single Family or Multifamily?
• What down payment can I afford?
• Where do I wanna buy? Near me, or another city?

Just to name a few. Depending on the kind of property you decide to go with, its location, price, and how you want to manage it, it will have a big effect on your first step.

2. Get a bank pre-qualification

Getting a bank pre-qualification is next step will be the next important step you'll need to take. It might be a bit intimidating going to a bank and seeing if they will lend you tens or hundreds of thousands of dollars! I know, it's really scary (at least it definitely was for me).

So pick a bank you have an existing relationship with (they probably already like you if you already use them) or pick a smaller regional bank if you're buying a cheaper home.

Getting pre-qualified to buy a rental property is helpful when it comes time to negotiate with a seller of a property you're interested in. Nobody wants to accept an offer from someone who isn't qualified with a bank to only say just kidding after banks deny financing them. So make sure you do this before you actually start shopping seriously.

3. Look for properties

Here comes a super stressful step! Finding a property you like and want to buy as a rental can be laborious. Resources like Zillow and Redfin are very useful and can help you search for properties on your own. One thing is very very important though. You need to work with a Realtor. Chances are unless you're a veteran at purchasing rental properties, you're going to need someone experienced to represent you and work with you when buying properties.

Referrals are powerful things, and if you know anyone that's working with a realtor (and if they like them), make sure they introduce you. Make sure that they are also experienced with investment properties as they are a bit different to work with.

When working with a realtor, make sure you understand the fees that are associated with working with them. Typically, the seller is responsible for paying your realtor any commission, but since this is an investment property, you might have to pay some additional fees to them.

4. Figure out if the numbers look good

Once you've found the property, it's absolutely important that you run the numbers and make sure it aligns with your goals. You probably will have one of these goals:

• Ensuring that the property appreciates over time
• Ensuring the property cash flows every month
• All the above

So once you figure out how much your monthly PITI (Principal, Interest, Taxes, Insurance) and how much rent you're going to be charging, you can figure out your monthly cash flow.

If you don't know how much a property will or should rent for, use Rentometer! I use it whenever I research properties because it gives me an estimate of how much rent I can charge. It looks at nearby homes of similar size and gives you a really good estimate on rent. You should definitely check it out.

The general rule of thumb is that you should buy a rental property that you're able to charge enough rent to cover repairs, your mortgage payment, and still have cash remaining

5. Submit an offer

At this point, your heart will probably be racing! I remember thinking "are you really about to offer this person this amount of money? Are you nuts?" Yes, the answer is yes. You have to be nuts to do this, and that's a good thing! Ever wonder why so few people do this? It's because it's scary, but that's also a good thing!

You and your Realtor should figure out what offer you are going to submit. Depending on your market, you might start with a lower offer (but not too low that it will scare them off). When you want to buy a rental property, the negotiation tactics might be slightly different.

Chances are, when you submit your first offer, the seller will almost always counter, and the negotiations will begin. Don't be disheartened if your offer isn't accepted, or they ask for more. It just depends on your numbers and budget.

One thing to always remember is to not get emotions take a hold of you! If you have a set budget, stick with it! Don't up your budget or spend more than you had planned if the seller is firm on his price, or if there is competition. Sometimes you just have to walk away, and that's okay! Remember that.

6. Apply for financing from your lender

If your offer has been accepted, here comes another huge hurdle. Applying for financing. You remember that pre-approval you got from the bank? It's basically the lender saying "we are willing to work with you". However, now you have to show the bank that you have all the funds that you need to close on the home you want to buy. Here are the key points you need to remember:

• Typically, a lender will need 20% as a down payment when you want to buy a rental property.
• That 20% cannot be gifted and should come all from your funds
• You need about 3-6 months of cash left after closing. These are your reserves, and your lender will want to see this
• Your credit score requirements differ from lender to lender, but it's typically 620. The higher the better.
• You will need to have been employed and show proof with paystubs
• They will need 90 days of your bank statements showing where the funds will be coming from
• They will also want to see 2 years of your tax returns and W2
• Some will even call your employer for employment verification

See all these bullet points? Make sure you qualify first before you even begin step 1. This will help you avoid any headaches when it comes time to get financing from your lender. Imagine getting all the way here and realizing you don't have any cash reserves. Your application might actually get denied, and you'll have to retract your offer to the seller. Nobody wants to do that.

So make sure you talk to your lender first to get all the things that they require. The points above are just a rough guideline but every bank is different.

Remember, it typically takes 30 days from offer acceptance till the closing day.

7. Do a property inspection

Okay, so some people might not think this is necessary since some lenders do not require you to do this. Well, I'm here to tell you that an inspection is VITAL! You absolutely MUST do an inspection on the property you're about to buy.

A house is not like buying a new bike or a pair of shoes. It's this building that has walls, foundation, AC unit, electrical, and a roof. All of which are VERY expensive things to fix or replace. ALWAYS do a property inspection.

An inspection will reveal important things like a damaged roof that needs to be replaced, termites, shifting foundation, failing AC units, things like that. If you blindly just buy a home, you could be excited at first, until you find out you have $25,000 worth of repairs needed to be done.

So unless you're a jack of all trades and you can inspect all the possible items in need of repairs and have accurate estimates, please use a professional and get the home inspected.

8. Address any issues with the seller

Now, after an inspection is done, you can go back to the seller and you can change the offer. The good thing about all this is that, not only can you change the offer at any time, you can always back out! Remember that!

So, for example, let's say the roof needed to be replaced. You can go back to the seller and let them know that the roof needs to be replaced and you can do one or more of the things below

1. Ask them to replace the roof before closing
2. Reduce the buying price to account for replacing the roof
3. Do repairs and also reduce the price
4. Back out completely

The choice is completely yours. Now, I know if this is your first property and first offer you're working with, you'll want to back out of everything even with the smallest of things. Don't do this. Remain steady, focused, and if there are some repairs that you can do, don't let them back you out of a good deal.

9. Finalize everything with the lender

During this whole time, the lender is probably still hounding you for documents, proof of stuff, and lots of things to sign. Make sure you do things as promptly as possible.

The process with the lender will likely take all the way until the day before the scheduled closing. They will check and double-check all the information you have submitted to them, including your credit report, and background check (depending on your lender) to name a few.

So not only are you juggling financing and the lender, but you also have to coordinate meetings with the inspector, work with your realtor, and back and forth with the seller, depending on your situation.

This might seem nerve-wracking (and it is) but that's all part of the fun and excitement! Keep at it!

10. Close, or don't

As the closing day comes closer, certain things will have come to light:

• Is the seller willing to re-negotiate terms depending on what your inspection uncovers
• Is the lender willing to work with you and your financial picture
• Are you happy with the property in question

The stars need to align in order to get to closing day knowing that you're making a huge but calculated decision.

Sometimes the seller is completely unwilling to budge regarding changing up the contract, or the lender you're working with has issues financing you. All of these things are okay, as long as you know how to handle them as they come. Almost nothing goes completely smoothly when dealing with buying real estate, and that just comes with the territory.

Remember, until the day of closing, you can always back out if there is something there that you are absolutely unhappy about.

But if all is well, walk into that title office and make the final signatures. Chances are, that's when you receive the keys to your investment property, and you'll finally own that first piece of real estate!

Final thoughts

If you made it through all that, you have done something that so so few people can do themselves. See why so few people do this? All they see are obstacles instead of seeing a path. The steps and requirements are clear as day. All you need is to walk the path.

Is all this easy? Nope. If it was, all of us would own real estate. But the fact that you're reading this means you're willing to take the first steps and own this unicorn that is real estate.

Go get it! Don't be afraid (I know I sure was). And have fun while you're at it!

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Here's the question for the day. Do you love making money? I know I do. How about dogs, do you love them? If your answer is yes for both, then this might be the perfect site also for you! You can actually make very good money for dog sitting and dog walking!

In 2014, the pet sitting industry generated over $330 million dollars according to Pet Sitters International. $330 million is a lot of money generated in that industry!

The pet-sitting industry is definitely an ever-growing Industry as more people are adopting pets year-over-year and providing them with much more care. That said, making money dog sitting has never been so accessible and profitable.

Simply put, it's definitely not too late to get started and make money for dog sitting and dog walking. If taking care of fur babies while their owners are away sounding fun, then this side gig might be perfect for you!

What is Rover?

Rover is the go-to place for pet owners! Services offered on Rover include pet sitting, overnight care, and even pet daycare and dog walking services. Rover is a win-win platform that allows pet owners to not only have their pets taken care of, but it's also a great way for animal lovers to turn a decent side income caring for them.

As a pet caregiver, you set your own rates, schedules, breed and size limitations, and whether or not you want to care for the pets in your own home or the pet owner's home.

Another fantastic perk of Rover is that they offer very good insurance for both the pet owner and pet sitter. This makes sure that no matter what happens, both parties and the pets are protected.

Can I really make money dog sitting and dog walking on Rover?

Making money dog sitting on Rover is actually not that difficult! A pet sitter or pet walker can average $20 to $40 per night and make over $30 to $40 per walk! After fees are deducted by Rover a pet sitter can take home up to 80% off of your earnings.

Although these figures are just the average, your local rates may differ. It's important to make sure that you check out what other Pet Sitters in your area are charging. That means, depending on your area, you can even make a lot more than that!

Because your earning potential is virtually Limitless, the more consistently you pet sit and dog walk, the more money you can definitely make!

How do I sign up?

You really don't need that much to get started pet sitting or dog walking. Their requirements state that you must be at least 18 years old to be eligible and go through their background check.

This background check only applies if you want to offer certain services. This list of requirements changes often oh, so make sure that you check their latest requirements.

So as long as you are over the age of 18 you can submit an online application. Rover will respond with an email typically within one week to let you know if you have been accepted on the website.

That means, within just one week, you can start running a profitable and lucrative pet sitting and dog walking side hustle!

How much does it cost to be on Rover?

Creating an account on Rover is completely free, however, you might have to pay for the background check they perform. The criteria to qualify for the background check differs depending on the Services you're offering, so once you get started signing up you will know if you would need one or not.

Rover fees range from 20 to 25% of your earnings. Your take-home earnings then are about 75 to 80% of what you earn.

You as the pet sitter will be responsible for paying for gas and other wear and tear of the items and equipment that you used to pet sit and dog walk.

Do I pay taxes when I get paid on Rover?

Servicers like Rover, Uber, and Doordash are considered independent contractors. This means that if you are a resident in the United States, Rover will require you to complete a W-9 form.

Depending on how you cash out your earnings, getting paid through PayPal for instance requires you to meet a $20,000 threshold before they send you a 1099-k form. If you don't make that much annually, you are still responsible for reporting earnings during tax time.

So to answer your question, yes you are responsible for reporting your income and paying the taxes. As an independent contractor, however, you can always deduct certain business expenses like pet food, gas, and even your phone bill for keeping in touch with your customers.

Always make sure to consult with a tax representative to get the most accurate information.

Do I need special insurance?

When getting started you don't need to get any additional Insurance. Rover offers its own formal insurance that covers any incidences that might occur while pet sitting or dog walking.

All the information about what their insurance covers and their limits are provided on their website. So make sure that you go on there and check what's covered and not covered before you get started.

Overall, their insurance is very good. At the time of writing, they cover incidences up to $25,000 for vet care and up to $1 million for property damage so really you don't have to worry much about insurance.

Final thoughts

Using Rover as a side hustle on the weekends or even a full-time gig, you can definitely make a lot of money for dog sitting and dog walking. If you just absolutely love taking care of animals and making a decent income, Rover is definitely a good option to get started.

Remember to check out Rover's website and see what services you are willing to offer.

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Your net worth is the value of all your assets combined minus all your liabilities. You basically add up the value of all the assets you own and subtract any outstanding debts that you might also have.

Understanding and knowing your net worth is super important when it comes to your personal finance and reaching Financial Independence. Knowing your net worth is absolutely paramount if you want to grow financially, and reach your financial goals.

Let's talk a little bit more about that.

What does net worth mean?

Your net worth is the value of all your assets minus all your debts. Assets include cash, stocks, equity in real estate, bonds, retirement account balances, etc. Debts are things like money you owe, credit card balances, car loans, etc.

Once you do this simple math, the number you come up with is your net worth. Depending on your age, your number may actually be in the negative. This typically happens if you have just graduated from college and have student debt but no assets yet.

That's okay, you still have time to catch up and invest in more assets.

Why should you know your net worth?

I always use this quote and I am going to use it again. What gets measured gets improved. By knowing and keeping track of your net worth, you can get a very good indicator of how you are doing with your finances.

What gets measured gets improved!

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If you have a lot more debts than you have assets, then it's a clear indicator that you are over-leveraged. On the other hand, if you have many more assets and fewer liabilities, then you are in a better financial position.

• How much does my net worth compare to other people my age?

Tracking it over time can help you make adjustments as needed. Always compare from the previous year to see if you are headed in a positive direction or headed backward. You don't want to be racking up debt year-over-year. Instead, you should be aiming to eliminate debt and increase your assets.

When does your net worth matter?

Planning for your retirement is one of the most important aspects that come with knowing your net worth. If you're close to retiring and have close to $0 in your net worth, then you have a lot of catching up to do very quickly.

It's also a super-easy way to track your own personal progress. If your net worth is going up year-over-year, then it's a very good indicator that you are headed in the right financial direction.

Month-over-month, year-over-year, you can actually see the impact of your different financial moves and how they are affecting you, your investment goals, and your retirement goals.

To sum it up, you should know where you stand financially as early as possible.

How to track your net worth

Now that you have a basic understanding of what this all means and why it's important, you need to figure out how to properly and accurately track it.

There are a number of apps and websites out there that can do this for you, but I would highly recommend checking out Personal Capital. This is a free tool that allows you to monitor your net worth, and your progress throughout the years, and it gives you investment recommendations.

There is a reason why Personal Capital is so highly recommended throughout the financial world. It's completely free to use, and it can give you a very accurate snapshot of your financial health.

Just simply connect your accounts and it will figure out which are assets and which are debts. It'll give you a nice big number showing you what your current net worth is.

Click here to start tracking your net worth for free

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Guest Post by Sachin

Have you ever wondered why you feel like you're bad with money or when it comes to money you feel like losing the race? Well, it might be because you are practicing some common Financial Mistakes that are putting in bad economic conditions.

So, in this article, we are putting in front of you the 7 Most Common Financial Mistakes that you should probably know, and definitely shouldn't do.

1. Having No Budget

Here's the first of the financial mistakes you need to avoid. If you are without a budget then you are without proper financial knowledge. Budgeting is the first step towards managing your finances as well as keep track of your spending. Knowing where your money is going provides you a chance to track it and avoid its wastage.

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Creating a budget is not an easy task that's why so many people end up making Budgeting Mistakes that harms them in the long run. So, it is advisable to create a budget carefully every month.

2. Not Paying Bills on Time

Being regular and up to date with your bills is a good habit. But if you lack this habit chances you are facing some serious money problems. Paying your bills late not only puts yourself in the penalty but also ends up creating more and more debt.

Paying Bills late also affects your credit score as it lowers the credit score. So quit these bad habits of your now and start paying your bills on time and fully. A way you can combat this is by automating your finances so that your bills are always on time without having to think about it.

3. Having Only One Source of Income

So, you totally rely on a single source of income? What if you lost that source or you lost your job, how do you carry your life financially? People usually commit this mistake to play it safe and for their whole life they become slaves to money. If it sounds like you then my friend it's time to buckle and do some financial planning.

Creating multiple sources of income not only provides you with greater cash flow but also allows you to master your money. And by then you no longer have to be a slave of money. So, focus on creating more and more sources of income and become financially free.

4. Using Your Credit Card Too Much

So, you are using your credit card even for the smallest purchase you make. Then, my friend, it's high time to sit back and analyze yourself as it is going to be a big threat to your finances. Maxing out your credit card or using too much of it increases its Credit Utilization Ratio which in turn lowers the Credit Score.

A lower Credit Score can harm your money in some epic ways like creating a problem in getting loans or high-interest rates which I am sure you wouldn't like.

5. Spending As if there is no Tomorrow

Spending money like crazy might sounds good and even seem good but only in movies. If you are spending your money like there is no future, buying everything your eyes see or tongue tastes, you soon end up yourself with a long list of debts to pay, and by that time you don't have money to pay.

Understanding money is important to mastering your finance. Don't become the slave of your money it might get harder for you. Control your spending and keep track of them to avoid any near future financial crisis.

6. Having No Emergency Fund

An emergency is not definite, it can happen to anybody and anytime. And some of them end up leaving creating a huge financial loss to cover. Emergency funds not only help you tackle the situation both mentally and financially.

If you don't have something, we call emergency funds that might be a point of concern. If you want to get ahead financially in life emergency funds should be your priority as it can save you from lots and lots of financial crises in the future.

7. Fear Of Investing

There are so many people and you might be one of them who fears the idea of investing. They thought it be riskier and maybe that's why never invest their money.

Investing your money is the best way to grow your money. It's the best way to make thousands into millions plus it provides you a lifelong flow of passive income. It is one of the most important assets of a millionaire.

Leave your fear behind or fight with it and start investing, it's the best way to master your money and become financially independent for so many generations.

The Upshot

It's never too late if you decided to bounce back and master your money. All you need is a little control over yourself and your money. By avoiding the given financial mistakes above you not only become better with your money but also make money work for you.

Thank you So Much

Sachin Singh Rajput

The Absolute Money

The post Top 7 Most Common Financial Mistakes appeared first on Digest Your Finances.

Having a low credit score can be a super limiting factor when it comes to your finances. Not only will you not qualify for certain financing like getting a mortgage, but you also end up paying high interest on things like credit cards. Basically, it's expensive to have a low credit score. So can services like Experian Boost work to improve it?

All hope is not lost though! In early 2019, Experian came out with the new Experian Boost feature. It's a free service that can help improve your credit score by taking into account utility bills that you pay on time.

This is definitely great news for those that have a limited credit history or a poor credit score and need a way to improve it. So the question is, does Experian Boost really work? I signed up for it and here are my findings.

How does Experian Boost work?

Experian Boost is free for anyone that wants to use it. It works by connecting to your various bank accounts and credit card accounts to find bill payments. Once it finds those, they are added to your credit file.

The idea of Experian boost is to not only look at your debt payment history but also look at your on-time bill payments. There are people out there that have no debt, or have debt but have a short credit history.

Experian boost works by combing through your bank accounts and checks for your on-time bill payments. Experian is able to connect to more than 8,000 different banks so you will be able to log in and connect your accounts without an issue.

You will have to enter your bank account's login information so that Experian Boost is able to retrieve your transaction history. If it finds bill payments that have been paid on time in the last three to six months, it can then take those into consideration and might help increase your credit score.

Once you log in, it literally takes just a few minutes for Experian Boost to work and recalculate your credit score based on his findings. If it goes through your bank account and finds nothing that can be used, then it also lets you know.

Is Experian Boost Safe to use?

The idea of playing around with your credit score and credentials to your bank account can make anybody cringe. It's always been important to always figure out if your online information is safe. With Experian boost, it uses 256-bit SSL encryption to keep your data safe.

This means that Experian boost uses very secure encryption methods to keep all of your data secure. So yes, Experian boost is safe to use.

Can Experian Boost help increase my credit score?

Mileage here can definitely vary. While some people can greatly benefit from The Experian boost, others may get little to no improvement in their credit score by using it.

According to Experian, Experian boost works and has already increased credit scores by more than 30 million points. This means that it does indeed work, and a lot of people have definitely benefited from using it.

If you're one of the people that have a very limited credit history or have an excellent track record of paying your bills on time, then this might work for you.

There is no easy way to tell if your credit score will improve, but there's also no harm in trying. The boost feature is completely free and easy to use. You lose nothing by trying, and as long as you have a good history of paying your bills on time, it might benefit you.

Can Experian Boost lower my credit score?

There have been very few cases where people reported having their credit score actually decrease after using Experian boost. It's not common, but it has happened before! Here is what is typically reported.

If you already have a good credit score, then adding your bills might actually end up diluting your good score if you had accounts go bad in the past. Experian boost is primarily focused on improving those that already have lower credit and need something to improve it.

In the majority of cases, myself included, your credit score will either increase or not change at all. When I tried it myself, my credit score did not change. This is probably because it was already on the high end. That's just my case though.

So because of this, Experian Boost does work, but you should use it with a bit of caution, and confirm if you indeed really need that boost! If your credit score is already on the lower end, you have nothing to lose and potentially a lot to gain! In most instances, Experian Boost works as intended and will not lower your credit score.

Advantages of using Experian Boost

• Free: Since you don't pay anything to use this service, it can only serve as a benefit if you need a credit boost
• Easy to use: The interface and instructions are super intuitive and easy to use. Just connect your accounts and let Experian Boost work its magic
• Effective: This service does exactly what it was designed to do. Helps people that need a boost in their credit score by including your bill payments history

Disadvantages of using Experian Boost

• Security: Although your data is stored securely, there is always some concern about connecting your bank account credentials to an online service.
• Doesn't affect other credit bureaus: Since there is Experian, TransUnion, and Equifax, the Experian Boost only affects the Experian score.
• Not guaranteed: The boost might work for some, and might not for others. This is especially true if you already have a good credit score.

Alternatives to using Experian Boost

If you are genuinely trying to improve your credit score, Experian boost is just one of many ways that you can do this.

For starters, your payment history plays the biggest part in your credit score. You can start off by making sure that you catch up on all of your credit payments, and keep paying them on time. Just by doing this one simple thing can drastically increase your credit score in a short amount of time.

Another way is to use a secured credit card. It's basically a credit card that you fund with money before you use it. It is simply secured by a cash deposit. This will protect the lender from any potential defaults but also works in your favor by improving your credit score.

A great way to also increase your credit score is to become an authorized user on someone else's credit card. If you know someone like a family member that has a good credit score and have a credit card they can add you to, this can definitely have a positive impact on your score.

Lastly, you can apply for a Credit Builder Loan. Credit unions and community banks typically offer this kind of loan. This is excellent for people that have a limited credit history and want to improve their credit score.

Final thoughts

So to answer the question, does Experian Boost work to increase your score? Yes, for the most part. It really depends on your current situation and current credit score.

For the majority of people out there, Experian Boost might have a small impact on your credit score if it's already high. It has a much greater effect if you have a shorter credit history, but have paid utility bills for a longer period of time.

Definitely, something to try out. Give it a go, and let me know how well it worked for you!

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The post Experian Boost Review: Can It Increase My Credit Score? appeared first on Digest Your Finances.

Time and time again, no matter how many articles you read about Personal Finance and taking care of your financial future, they always say that you need a budget! But if you've never had one, how do you get started? How do you budget your money? I'm going to show you how.

The good news is, the fact that you're reading this and trying to understand how to get started on your journey to financial freedom, is a huge step!

Creating a budget is an absolutely necessary step to developing good spending habits and improving saving for a rainy day and saving for retirement.

The idea of setting up a budget and tracking your finances might seem difficult, frustrating, or complicated. This Beginners Guide will take you step by step on how to Budget Your Money Effectively!

1. Figure out why you want to budget

This is the first and most important step when trying to create an effective budget that you'll stick to. Without a why it's easy to lose motivation.

Without a why it's easy to lose motivation. Figure out your "why".

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There are many reasons why you would want to start budgeting. Here are a few examples:

• You want to stop living paycheck to paycheck
• You want to be able to save more for a rainy day
• You want to get out of debt
• You want to stop fights happening at home because of money

These are just a few examples, but your "why" doesn't have to be one of them. Or it can be all of them! This plays a huge psychological role in keeping you motivated, so make sure you figure out why you want to budget.

2. Calculate your net income

You might be thinking to yourself I already know my income! But chances are, you don't know exactly what you take home to begin budgeting. What you make as a salary ($65,000 a year for example) is not what you bring home. You determine your Net Income by subtracting your monthly tax withholdings and other deductions like social security. These are things you don't have a choice in when you earn a wage.

If you are married, it's also important to combine both you and your spouse's earnings over a month. Most likely both of you are responsible for the bills around your household, so a household income is appropriate. It's also okay if only one of you earns an income.

If you earn additional income outside your daily job (like side gigs), you should also subtract anything that reduces it, such as mandatory business expenses and taxes.

3. List out all your expenses

This one is a bit more difficult, but an essential step in understanding how to budget your money. You'll need to track and write down all your monthly expenses (from rent, mortgage, phone bill, utilities, etc) every dollar that leaves your bank account.

To have an accurate and clear picture of all your monthly expenses, this might take a couple of months to make sure that you haven't missed any expenses. It's good to list them all within an excel sheet so it's easy to come back and make adjustments.

4. Subtract all expenses from income

After you've figured out your monthly net income and monthly expenses, you just subtract the expenses from your income. If the end result shows more income than expenses, you're off to a good start. That extra income can then be set aside for things like Retirement or Saving for a rainy day

If your expenses are more than your income, then you will need to take a long hard look at your list of expenses. Figure out which items on that list aren't necessities and cut them out. Spending more than you make is a bad sign, but it's good that you recognized it, and can make the necessary adjustments.

5. Make adjustments regularly

Having this budget isn't a write once and forget type of thing. Instead, life changes regularly so do your list of expenses and possibly your income. Make sure you always keep track of what your budget dictates and make adjustments as needed.

You might start off with set numbers but you can always cut that unwanted cable bill in half, or start a side gig and thus increasing your income.

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When it comes to the financial world, you are always somehow faced with fees after fees! It's almost like they are out to get your money, aren't they? In all honesty, they are! So the question is, what financial fees are unavoidable and what financial fees should you avoid?

In this article, we're going to save you some money! Here are the Top 5 Financial fees you should avoid and save yourself some money

1. ATM Fees

The first on the list is one of the most ignored by most. ATM fees are usually incurred when you withdraw cash from an ATM that is not part of your bank. For example, if you bank with CHASE and you withdraw cash from a U.S. Bank ATM, they will charge you withdrawal fees.

Now, I know the fees might not seem like a lot, but if you withdraw frequently, these fees add up. Withdraw fees typically range anywhere from $2 to $5, depending on the ATM.

To avoid this fee, always stick to ATMs that are part of your bank. If you bank with larger banks, they are everywhere and easy to find. Just plop it into Maps on your phone, and find your nearest one.

2. Credit Score Reports

If you want to take a look at your credit score, this is something you shouldn't have to pay for. There are free services out there like Credit Karma that let you sign up for free and monitor your credit score from all 3 credit bureaus.

You can also use  AnnualCreditReport.com once a year to check your credit. This service allows you to get a comprehensive credit report every year for free.

3. Creditor Late Fees

If you have a credit card, personal loan, car loan, etc, then you know that they charge late fees when payments are not made in time. Usually, credit payments are due at the end or beginning of every month. If your loan is late by a week or two, they may charge you late fees.

When a creditor charges you late fees depends on their policies and agreement with you. Some charge late fees immediately, some charge a few weeks in, it just depends. The amount varies, such as a percentage of the amount owed, or a flat fee.

If you can, set reminders and money aside to pay back loan payments on time. Not only are you paying interest, but you want to also avoid paying late fees on top of that.

4. Credit Card Cash Advance Fees

When you use a credit card for everyday purchases, you are only charged interest on the balance owed if carried over the month. When you borrow cash from the credit card, you are also charged cash advanced fees! Avoid these like a plague!

Cash advance fees are very expensive. Depending on what you are wanting to pay for, it might be much cheaper to get a personal loan than a cash advance from a credit card. Avoid these and instead, try to make the purchase directly from the card.

5. Overdraft Fees

Overdraft fees are charged when you withdraw or use more money than what is in your account. When your balance goes negative, the bank often charges you overdraft fees. Depending on your financial situation, this might be harder to avoid if you are living paycheck to paycheck. Avoid this one as much as you can.

The idea here is to keep tabs on your accounts and ensure that you don't spend more than you have. Having a budget is one way to avoid overspending and not incur these fees. Fortunately, a lot of big banks are starting to eliminate or reduce overdraft fees!

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If you're anything like me, then you probably love doing fun things indoors. It's especially true nowadays, considering we are all stuck at home and trying to figure out what we can do for fun. So what are some things that you can do on a night in?

Well, the good thing is there's probably lots you can do. You've definitely come to the right place. Having a night in doesn't necessarily just mean watching movies or listening to music. There is quite a bit more that you can do too.

Let's hop right into it and go to the 12 free things to do on a night in.

1. Watch movies / TV shows

With the advent of Netflix, Hulu, and other on-demand streaming services, there is a plethora of content to choose from. This one is probably the most obvious thing to do on a night in, but it can definitely be made much more fun.

If you have microwave popcorn and a few candles, you can definitely turn it into one heck of a movie night and binge your favorite shows or movies. The great thing is you probably never run out of content to watch, so this is a definite go-to.

2. Enjoy some cheap wine

Depending on your age, you can turn your night into a wine tasting festival. Well, probably on a smaller scale :)

With a $20 budget, you could probably go to something like Aldi or your corner store and buy yourself a few bottles of Cheaper wine. Keep doesn't mean it doesn't taste good, it's just much more affordable.

To make it even more fun, pick up a few bottles you've never tried before in and give them a go. This can definitely be a fun way to spend your night indoors.

3. Have a game night

One way to have one heck of a blast is to host a game night. It can be as little as two people playing, or you can invite many more people to have fun. There are lots of games that you can play on game night.

Just to name a few, here are some popular ones:

• Charades
• Cards against humanity
• Twister
• If you had to
• Some board and card games

4. Have a bonfire

If you have a nice backyard and a pit, then having a bonfire is an awesome way to toast some marshmallows and socialize. You could even do this by yourself if you wanted. Heck, even if you don't have a pit in your backyard, your BBQ grill will do the trick.

It's a super awesome way to wind down your week, and enjoy some fresh air. To make a bonfire more exciting, you can always throw in some barbecue while you're at it. Nothing like a nice bonfire and some snacks :)

5. Do some star-gazing

If you love being outdoors, or maybe just love camping, then you might actually have something pretty fun to do in your backyard. Ever done some stargazing?

It is one of the most relaxing and peaceful things that you can do. Simply get yourself some lawn chairs or sleeping bags and do some stargazing with your family in your backyard.

If you don't have a backyard or don't find it comfortable, you can do it in your car if you have one that has a moonroof. Either way, it's a nice relaxing way to spend your night in. You can throw in some wine and soothing music while you're at it.

6. Earn some cash

If you are just indoors and just trying to find something to do, how about you start earning yourself some cash? This is especially handy if you have some kind of financial goal you're trying to meet or bump up your savings.

How you may be asking? It's much quicker and easier than you might think. Making money online today has never been easier. Here are some great ways you can start earning some extra cash:

• Drive for Uber on your free nights
• Deliver food and earn cash using Doordash
• Complete surveys and earn some extra cash on Survey Junkie
• Dog sit people's pets for cash on Wag
• Start renting out your extra space with Airbnb

These are just a few examples. If you want to learn a little more about ways to earn from some kind of side hustle, check out this article.

7. Work on your budget

Now, before you quickly brush this off and continue to the next one, take a second to think a little bit about this. If you don't have a budget already and have some free time, why not just get it over with now?

I know, it's not fun and it's probably not top-of-mind to start working on a budget, but figuring out your finances now is much better than figuring it out later. Take a second to work on your budget so you are in a much better financial position for your future.

If this is your first time, I have written an article explaining exactly how to write a budget for beginners. Check it out and download the free budget spreadsheet:

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8. Learn a new skill

There is not a better time to start learning a new skill than when you have a free night or weekend. When you take the time to invest in yourself, you might end up actually earning more financially in the future.

You can learn lots of new things. Things like how to code, how to do graphic design, or even how to write comedy. There are so many things that you can start teaching yourself.

Take a minute to figure out things that you've always wanted to learn, and start learning. There are so many free resources out there. YouTube, for example, is an excellent way to learn some new skills.

9. Start your own blog

chances are, you have probably thought about starting your own blog. The main reason most people don't do it is that they believe they don't have anything to share or say. That could not be further from the truth.

The fact that you are living your own life, means you have your own life experiences. You could be a young teenager that has experience with coping with bullying, or maybe how to study for tests.

On the other hand, you might be a retiree that can write all about your life experiences or give advice on the mistakes you have experienced throughout your life.

These are just a few examples, but no matter what spectrum you might lie on, there's always something that you can always share and teach.

Learn how to start your own profitable blog

10. Read some books

If you are already an Avid Reader, then this one is a piece of cake. You can just continue reading and enjoying your literature. If you haven't really been into reading, or just starting out, then this is a wonderful hobby to pick up.

The most wonderful thing about reading books is that if you read educational books (from authors such as Dave Ramsey and Napoleon Hill), it is a wonderful way to learn.

It is not only informative, but it can make the time pass and you can learn one or two things.

11. Rearrange your place

This one has always been a hard one for me because I am a creature of habit. I don't really like change, so it took me a while to warm up to the idea. My wife and I rearranged our living room, and I couldn't be happier.

There's nothing more refreshing than rearranging some furniture and making it feel like a completely different house. It really does give you some sense of accomplishment, and it's really fun to do and look at it.

12. Create a pillow fort

This one is especially fun if you have children. Bring out your inner child and make yourself a nice pillow fort with your couch cushions and pillows around the house.

It's definitely a family bonding activity and super fun. Not only will you enjoy spending time with your family, but your kids will absolutely love doing this with you.

Final thoughts

As I mentioned at the beginning of this article, spending a night in does not mean just watching movies or having to spend money. Having a night in with yourself, your spouse, or your family can just be as fun as having a night out. You just have to kinda plan ahead for it.

Use this list as a starting point and switch it up wherever you see fit. There are lots of activities that you can do and still keep it fun. All it needs is a little imagination and creativity.

Here's to having a super fun night in, and let me know below what you ended up doing :)

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Your credit score is one of the most important things creditors look for, right after employment and income. It shows them how creditworthy you are and what interest to charge you. Since your credit score is so important, how do you boost it easily without too much hassle?

In this article, we'll go over one move that you may or may not know but will almost always work in your favor.

How to boost your credit score

Requesting a credit line increase is one of the easiest ways you can boost your credit score without doing much else. Some of you right now you're thinking "I already knew this" but have you tried it out yourself?

Most creditors increase your limits periodically based on your credit usage and credit history, but you can always request an increase by yourself. By being proactive, you can expect to see more credit increases than waiting for one to happen.

How does a credit increase help my credit?

When credit bureaus calculate your credit score, they look at several factors.

1. Payment History: Are all your bills paid on time every month?
2. Credit Utilization: How much do you owe your creditors relative to your total credit limit?
3. Age of Credit: How long have you had your credit cards and loans open?
4. Credit Inquiries: How many new accounts are you opening and have you been applying for new cards?
5. Credit Mix: Are you able to responsibly juggle different types of accounts (credit cards, mortgage, auto loan)?

When you increase your credit limit, you improve your Credit Utilization Ratio. This accounts for about 30% of your credit score. For example, if you had a $1,000 limit, and you spend $500, your utilization will be 50%.

Your Credit Utilization should remain under 30% before it hurts your credit score. Using the example above, if you increase your limit from $1,000 to $2,500, then your utilization will drop to 20%, improving your credit score!

Does requesting a credit increase hurt my credit?

This depends. Some creditors actually don't perform a hard inquiry when you request a credit increase. At the time of writing this, Synchrony Bank, PayPal, and Amazon do not perform hard inquiries when you request a credit increase! In those cases, the best-case scenario is that they approve your request, and the worst case is that they will deny it, without affecting your credit score.

How do I request a credit increase?

Depending on your creditor, you can either do this online or over the phone. You just tell them that you are wanting a credit limit increase on your credit card.

Getting an approval or denial may either be instant or may take a few days. This will depend on your own credit situation and relationship with your bank.

Final thoughts

If you want to boost your credit score without too much effort, requesting a credit limit increase is a great way to do it. Make sure you do this periodically, especially whenever your financial situation changes for the better. If you get a salary increase, pay off a loan, etc, see if you can get a credit limit increase.

Also, try to space it out as well. If you request credit limit increases too often, that might also be a red flag to your bank and creditors. It's a balancing act, but will also be beneficial and rewarding in the long run.

The post How To Boost Your Credit Score With One Move appeared first on Digest Your Finances.

After 2 years of housing prices skyrocketing to infinity, is the end of this rally anywhere near? The numbers seem to suggest so. There are clear indications that the housing market is starting to cool off in 2022, with a few caveats.

Cooling housing market

For the last 2 years, the housing market has absolutely exploded year over year. Many still anticipate that it will continue to do so in 2022. However, we're starting to see a shift and slow-down in pricing across the board. According to Redfin, 12% of homes listed for sale in the US have reduced their price, compared to 9% in 2021.

Sure, this is a good thing, but overall, the market is still very hot! It's hard to comprehend just how people keep affording to buy housing, but with such pent-up demand, is it really that hard to believe?

Increasing mortgage rates

Increasing mortgage rates are putting a big dent in people's wallets and their ability to purchase a home. Prospective buyers are being hit with sticker shock when they apply for financing and see their potential monthly mortgage.

Sellers are now getting nudged to start lowering their prices a bit. The idea of selling a home within 24 hours is now becoming a bit of a distant memory. Sellers don't want their houses staying on the market forever. They would rather lower their price slightly to close a bit quicker. Nobody really knows just how high these interest rates are going to get! Better lock in your profits now, just in case the housing market takes a bit of a plunge.

High mortgage payments

Redfin has reported that the median home price has now reached a record of $384,000. The monthly mortgage on the median home is also now at a blistering $2,245 per month with a 4.72% interest rate. That means the average American household is going to spend 34% of their income on their housing costs!

This high mortgage payment to income ratio is the highest it's ever been since 2006. If that doesn't raise red flags, I'm not sure what will. At this rate, more and more families are being priced out of the market, without a doubt. Sooner or later, the buying pool of those that can afford is going to dry up, forcing these exorbitant prices to come down a bit.

Housing market predictions

After asking professionals in the industry to weigh in, it's an overwhelming consensus that the market may stay hot for the coming year, but it will cool off just a bit. The factors determining the market are

• There will be a continuous shortage of inventory
• Gen Z is right behind Millenials, causing additional pressure
• Borrowers are strong and less likely to default
• It's going to take something big to see a housing crash

Although all the items above signal an unwavering hot market, it's also fair to say that it won't stay hot forever. Yes, there is so much pressure and demand for housing, but so many people are being priced out by

• Increasing housing prices, which many cannot afford
• High inflation, causes people to lose buying power
• Increasing interest rates to very high levels
• Wages not keeping up with home prices and inflation

Really, it's a toss-up just when a price correction will occur, but chances are, it will happen.

Final thoughts

Now the question is, should I buy a home now, or wait until the market drops? That's the million-dollar question. The answer to this is an underwhelming "it depends".

If you are financially prepared to purchase a home, you can afford the mortgage comfortably, and planning on living there for at least 5-10 years, then I say go for it! Your primary residence should not be considered an investment, but a home. In that case, as long as the numbers look right, and you are ready, then go for it.

If you are in it to time the market, then I would say hold off. The market is so crazy right now it's probably a good idea to sit on the sidelines and let everything level off. The timeline is really unknown to anybody at this point, but one should never jump into chaos when everyone is panicking.

What are your thoughts on everything going on? Let us know below :)

The post The Housing Market Cooling Off in 2022 appeared first on Digest Your Finances.

When it comes to the most basic human needs, having shelter is top of the list. Everyone needs a place to call home and a roof over their head. Today, we'll look closer at what income restricted apartments are, clear some misconceptions, and learn how to qualify for them.

What are income restricted apartments?

Income restricted apartments are apartments that are eligible for people with an income level that is below a certain amount. These apartments are generally reserved to help low-income families to find affordable housing.

Income restricted apartments are either owned by the city or privately owned by investors. Regardless of who the owners are, the tenants must be able to meet the income requirements to be able to live there.

If the apartments are privately owned, they receive subsidized payments from the state or receive tax credits. It ends up being a win-win situation for both the owners and tenants looking for affordable housing.

Are income restricted apartments 'the hood'?

This is a huge misconception that needs to be addressed. These apartments are there to give lower-income families a chance for housing, and that's it. As a matter of fact, these apartments might be even nicer than those without income restrictions!

This is especially true with privately-owned income-restricted apartments. Since they are either subsidized by the city or gain tax advantages for running them, they are incentivized to keep them pristine and attract more tenants.

I had a friend that qualified for one of these income restricted apartments. Her apartment was a beautiful downtown loft, with 2 bedrooms and 2 full baths. Nowhere close to being considered 'the hood'.

How to qualify for income restricted apartments

Eligibility is typically determined by your annual gross income, elderly status, any disability, as well as U.S. citizenship or eligible immigration status. Meeting the income requirements is what's most important, so let's expand on that a little bit.

This entirely depends on where you live. A general rule of thumb dictates that a household's earnings must be about 50-60% or less than the area's median income levels. If you earn 60% or more of an area's median income, then you would not qualify. Let's look at a few examples.

If you live in a high cost of living location, such as San Francisco California, then the maximum income requirements are a bit higher. On average, eligibility for low-income housing will start at $46,100 for a single person and $52,650 for two people.

If you live in a low cost of living area, such as Kansas City Missouri, then the maximum income requirements are a bit lower. On average, eligibility for low-income housing will start at $30,100 for one person and $34,400 for two people.

Again, these are just averages and are subject to change. So make sure to do some homework and research the location you are interested in.

Can you get an income restricted apartment with no income?

Yes, you can. The one thing that is most important when determining eligibility for income restricted apartments is your income. You cannot make more than 50 to 60% of the area's median income to qualify. If you have a $0 in income, then you technically fall under this category.

One thing to remember is that income is not restricted to just a paycheck from work. If you earn Social Security benefits or child support for instance, then that might count as income. Make sure to run the numbers and see if you still qualify for these benefits.

Although you might have no income, income restricted apartments are not free either. So, although you might qualify by having a very minimal income, you still need to be able to afford living there.

You're still responsible for the rent, bills, and other expenses of living there. So take that in mind and make sure you have ample savings, an emergency fund, and budget accordingly.

Where do I find income restricted aparments?

The amazing part about being in this day in age is that technology has made it so much easier to research and find what you're looking for.

Finding income restricted apartments is as easy as going to rent.com and filtering search results by 'income restricted'. For example, click this link and check out rent.com and how I filtered search results for Dallas Texas. This can give you a great head start.

Final thoughts

There is a lot of stigma and misconceptions that come up when talking about income restricted apartments. They are not nearly as bad as people think they are.

If you are genuinely interested in affordable housing and want to apply for income restricted apartments, then I'm glad you found this article. It's important to understand exactly the requirements that are needed to qualify for one of these.

Always remember that, since they are so high in demand, they usually have a waiting list. With the exorbitant increase in rental costs, a lot of people are seeking income restricted apartments to be able to qualify for housing. Make sure that when you start looking, you put in your application ahead of time, just in case if there is a long waiting period.

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Guest Post by Orlando Rodríguez

Credit cards are a great financial tool. They can help you manage cash flow in your personal budget and make it easier to engage in activities such as renting a vehicle. But plastic in your wallet can also be a doorway to increased debt. If money is tight and your credit card balances are higher than you might like, you may wonder how you can make credit card payments and get ahead.

How Long Will It Take To Pay Off Your Credit Card Debt?

Understanding where you stand is the first step to managing your credit cards. Start by gathering your latest statements or logging into accounts online. Write down the total you owe on every credit card, and at what interest rate, so you can better understand how much you owe.

You can use a credit card payoff calculator to figure out how long it might take you to pay off your debt based on how much you can afford to pay every month. The figures can be surprising. For example, if you owe $1,000 at 18% interest and only pay $25 per month, it can take you more than 5 years to pay off the debt!

Adding just $5 to that monthly payment takes the total time to pay off the debt down to under 4 years. If you can afford to pay $35 per month—just $10 extra—you cut another year off the time it takes to pay the debt off.

5 Ways To Make Credit Card Payments When Money Is Tight

Adding just a little more to your credit card payments every month can make a big difference. But how do you pay off debt faster—or at all—if money's tight? Check out these five tips to help you make credit card payments.

1. Stop Using Your Cards, But Don't Close the Accounts

First, keep the amount you owe as low as possible. The higher your credit card balance, the more you have to pay in minimum payments every month. Stop using your cards to keep the minimum payment as low as possible. That lets you add a little money each month and ensure it goes toward paying the debt off faster and not toward new debt you racked up.

Keep your credit card accounts open, though. Open paid card accounts are better for your credit—as long as you're not running up the balances. They help decrease your credit utilization and increase your credit age. Both of those things are good for your credit score.

2. Try To Negotiate a Lower Interest Rate

Your credit card APR is a big factor in how much your debt costs. Remember that example of the $1,000 at 18% interest? It takes 5 years and 2 months to pay off the balance and costs $1,539 total when you make monthly payments of $25.

In the same scenario with 13% interest, it only takes 4 years and 5 months to pay off the debt. The total amount paid would be $1,318. 

Talk to your credit card provider to see if you can get a lower interest rate so the money you can allocate to credit card payments goes further. This may be possible if you have better credit than when you first opened the account or are a longtime account holder in good standing. That means you always or almost always paid your bills on time. 

3. Set Up Automatic Payments

When money's tight, it can be hard to prioritize a credit card payment every month. If you need to pay $50, for example, it's easy to decide to splurge on a dinner out or cover a necessary expense before you pay the credit card bill. You may think you'll get around to paying it next week, but what if something comes up then too?

Avoid this issue by setting up automatic payments. When you know the money is coming out, you're less likely to use it for something else.

4. Get a Balance Transfer Card

If you're struggling to pay down credit card debt due to high interest rates, consider applying for a balance transfer credit card. Balance transfer credit cards are those that offer an introductory period with a low APR for balances you transfer from another credit card. That introductory period can help you get ahead on your debt faster without paying more.

For example, imagine you have a credit card with a balance of $3,000 at 21% APR. You can afford to pay $150 a month on it. It would take you 25 months and $3,725 to pay off the balance. 

If, however, you transferred the $3,000 balance to a balance transfer card with a 24-month introductory period at 0% APR, the end result is different. You can pay $150 for 20 months, paying off the balance faster and for only $3,000.

It's important, however, that you don't transfer money to another card and then run up the balance again on the card you already had. Then you have double the debt and may not have enough money in the budget to cover your monthly payments. 

5. Increase Your Income

Finally, if you're finding it hard to make credit card payments every month, you may need to increase your income. Getting a higher-paying job is obviously one way to do that. But you can also sell items you own on online markets or enter the gig economy. From making deliveries for DoorDash to answering surveys online, there are plenty of ways to earn a bit of money every month to help you make more than your minimum credit card payments.  

The Right Credit Card Makes a Difference

The right credit card makes a huge difference in meeting your financial goals or managing debt. For example, if you're a light spender, you likely don't want a credit card with tons of rewards and a huge annual fee to match. If you're not spending enough to get the rewards to offset the fee, then you're just paying a fee.

If you're on a budget, you might prefer a card that has flexible payment options and statement dates. And if you're starting to build or rebuild credit, you want to work with a card company that reports your timely payments to all three credit bureaus. 

There are hundreds of credit cards on the market. Taking a little time to find the options that work best for you can make it easier to make credit card payments in the long run.

The post How To Make Credit Card Payments on a Tight Budget appeared first on Digest Your Finances.

Investing is intimidating, isn't it? Hearing the word invest, I used to immediately imagine a room full of suits and ties, talking about "stock market this" and "portfolio that"! It's no wonder that so many people are inevitably afraid to invest. I'm here to tell you that you're not alone, and you shouldn't be afraid!

So many people (if not all) understand the importance of investing in your future and retirement, but the majority of people are too afraid and intimidated by the idea.

The fear comes from very rational places and makes complete sense, but there is a reason why every blogger, book, and wealthy person out there advocates for investing! Today, let's put your concerns to rest, so you're not so afraid to Invest.

1. Setting Clear Goals

Here's the straight honest truth. Are you ready? "Investing is not a get rich quick scheme!" Read that again!

I know, you've seen so many people on the internet, on youtube, and maybe on social media, showing the world how they made millions in a few months by investing. Let's get that out of your head, ASAP!

Investing is a long-term strategy, so you should think long-term. Thing is, investing in the market, for example, means that the value of the Stock Market fluctuates up and down! When times get rocky, you don't want to sell your investments, and then make a loss. Besides, since nobody knows when the market will rise, you will lose out on the gains when it does!

So, to keep your calm, always just invest for the long term. Invest your money, keep it there, and don't touch it for years and years to come. Remember, think long-term!

2. Getting money to invest

A good number of people don't invest because they don't believe they have the money to invest. I'm here to tell you that you do!

The thing with investing is that it does not require hundreds of thousands of dollars to get started. As a matter of fact, you could actually get started with just $1. Nope, that wasn't a joke either!

There are multiple investing apps out there that allow you to get started with investing with very little money. Services like Betterment offer very low-cost investing and are an easy way to get started. These apps called Robo-Investing apps invest your money for you, requiring very little experience in investing. If you're a little more experienced, then Robinhood would be an excellent app to get started with!

Another very easy place to get started with investing is with your 401k or any other retirement plan. With these investment plans, there is usually very little money required to contribute.

Sure enough, investing back in the day required a lot of money to get started. In this day and age, and with the advent of investing apps and the internet, it really doesn't need that much money.

3. Preparing for market downturns

The stock market experiences cycles of profits and losses. These Cycles are very common and are a natural part of the stock market. Here's the thing though. It's always important to be prepared for them.

First thing's first. By following step one, you should remember to always invest in the future. This means that, whenever there is a market downturn, you should persistently continue saving. This is especially true when you're just starting out. What the market does should not matter at all, and instead, keep investing to reach your financial goals.

Secondly, by investing in index funds, you will 100% always come out ahead in the long term. Statistics show that those that invest in the short-term and try to time the market, usually lose the most amount of money. So when you start investing make this promise to yourself. "I will always invest, no matter what". This way, you will come out ahead.

4. Diversify your investments

If you don't know what diversify means, that's okay. It's really not as scary and complicated as it sounds.

It simply means that when you invest, you spread your money across different types of Investments. These types of Investments may include investing in the stock market, investing in bonds, or even real estate.

This has been a proven way to safeguard your Investments whenever there are market downturns. Basically, any of your poorly performing Investments don't affect your entire portfolio in the long term. This will make sure that you have a balanced investment strategy.

Don't be afraid to invest

When I started my own financial journey, I remember a time when I was deathly afraid to invest any of my money.

I remember thinking to myself "what if I lose money" or " I have no idea what I'm doing." But the thing is, the biggest Financial mistake you could ever make in your life is not getting started.

Think of investing as saving. Saving money is one of, if not the most important financial habit to form. All it takes is the first dollar to get the ball rolling.

So, I promise you it's not as bad as you might think. On the contrary, It's much much easier than that. So what are you waiting for? Don't be afraid to invest. Instead, let's get this ball rolling! :)

Good luck!

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Do you ever get to the end of the month and realize "oh sh*t, I don't have any money left again? Why am I always broke?" Well, I have some good news and bad news. The good news is, you aren't the only one. As a matter of fact, you are actually in the majority. The bad news is, I wish you had found this article sooner. :)

The majority of people reading this article probably make a very decent income. That's why it's confusing to most as to why they always broke when they really shouldn't be.

The median household income in the United States is about $65,712. By just looking at that number, it's doesn't make sense that 78% of workers live paycheck to paycheck. $65k is a lot of money, right?

Today, we're going to fix this and have you not be always broke anymore.

1. You are simply spending too much

All right, I will spare you the nonsense and state the obvious. More than likely, you are broke because you are probably spending way too much each and every month.

Do you have a budget? If you don't, there is your answer. As a matter of fact, if you just worked on this first thing, you will be much better off. Trust me.

Have you ever noticed that your bills always seem to be just as equal to how much you make? A person making $40,000 a year might be living paycheck-to-paycheck oh, and a person making $120,000 may also be living paycheck-to-paycheck. How might that be? Lifestyle inflation.

Your standard of living is almost equal to your salary. As human beings, we tend to spend as much as we make on average. So take a second to draft up a budget and figure out exactly what you are spending every month, and how you can reduce that spending.

It's really not as difficult and confusing as it sounds. Taking minutes to read up on how to start a budget. I wrote an extensive article covering just that, I'm sure you will find it super helpful.

• How To Budget For Beginners

2. You don't make enough money

I'm sure I got a bit of a reaction from this one. "But Field" you ask, "isn't that a bit obvious?" No my dear reader oh, it's not as obvious as you might think.

The majority of people are employed in jobs that really underpay them. It might seem obvious reading it now, but have you ever considered asking for a raise or switching jobs and working somewhere that you are paid much more than you currently are?

I have asked this question to so many people, and the typical response I get is "yes I will, soon." But, soon never comes. They end up staying and that job for years on end, earning much less than they are currently worth.

Always consider asking for a raise if you really feel you deserve one. If you do, asking never hurts. I know, it's a scary thing to do but if you don't ask, you will never know.

And if your employer simply will not give you a raise, their loss not yours. You can simply just look for a better-paying job and earn more money. I also wrote an article going over this very thing. Check it out.

3. You are house poor

Did you know that the median size of a new home is about 2600 square feet? That's an increase of over 1,000 square feet in the last 40 years. Do you know what's even more interesting? The average household size has also decreased from three people per household to two people.

What these statistics show me is that people are buying more house than they really need. If you can qualify for a huge mortgage, that doesn't mean you should take it. This is one huge mistake that most people make in their financial lives and the huge reason why they remain broke month after month.

This applies to renting too. Don't rent out the nice downtown loft when you are living paycheck to paycheck. That leaves very little wiggle room for your finances.

The two most expensive purchases in your life are going to be your car and your housing, your house being the most expensive. If you spend too much on your house, the majority of your income will go to paying down that mortgage.

Imagine earning $4,000 a month, and your mortgage or rent is $2,500 a month. That means that 62% of your income is going just towards your house. That's before your expenses, your savings, and heaving utilities. Things really add up.

4. You are car poor

Yup, you know exactly where I'm going with this. Just like being house poor, you can also be car poor. Yes, it's a real thing.

At the time of writing this, the average price of a new car was about $36,718. 36 grand for four wheels. What? What ridiculousness is this? Who pays well over 30 grand for a car? It really doesn't make any sense.

A car depreciates as fast as a rock sinks to the bottom of a lake. It's a nonstop train to being broke. What's even worse is that the majority of buyers are buying cars on credit. A car payment can be a huge financial sink to your monthly budget.

If your car payment is $600 a month, imagine what not having that car payment would do. What would you do with an extra $600 a month in your pocket? I bet you could do a lot with it.

If you can, avoid car payments like a plague. No matter what everybody tells you, you don't have to have a car payment. They are so many other cheaper cars you can buy for cash that is just as good as new.

A four-year-old car does not mean unreliable. Heck, if you could go older than 4 years, you would be way better off financially. Trust me on this, the numbers don't lie.

5. You are a brand slave

Do you hate generic products? If so, why? Is it the packaging, or is it that somebody told you that they are inferior products? If your answer is yes to either of these, you are doing this all wrong.

The majority of generic products are almost identical to name brand products. This is especially true when it comes to medication.

Do this little experiment for me. Walk into Walgreens and compare the generic brand over the name brand. Chances are, you will notice that the ingredients are literally identical. So, why would you end up buying the name brand instead? Marketing.

Name-brand companies spend billions and billions of dollars each and every year to convince you that they are better than generic brands. Of course, they are exceptions, but not the rule.

The next time you are shopping, hold the generic brand next to the name brand and compare the ingredients. If the ingredients are the same, then they are literally identical except for the packaging.

I simply switching to this mindset, you can save thousands of dollars on shopping just because you opt to you shop for a cheaper generic brand.

By the way, the same applies to clothing. Just because this shirt has the Supreme logo on it, doesn't mean the cotton was woven by angels on golden chairs. Nope.

6. You buy too cheap

It's took me a very long time to snap out of this myself. I was definitely a culprit of buying things way too cheap.

I would go to Dollar Tree just so I can save a couple of dollars on whatever I was buying. Be it a pair of scissors, kitchen knives, or even a can opener. Do you know what kept happening? These things kept breaking.

I would end up back at the Dollar Tree every other month to replace the broken items. After a while, I realized that there is a reason they cost so little. The materials are brittle, soft, and off low quality.

If you keep buying really cheap items, they will not last and will need to be replaced more often than not. This doesn't save you money, it actually costs you more. Keep that in mind.

7. You have too much debt

Now that I'm thinking about it, this probably should have been higher up on the list, but no matter. The point is still the same. Having too much debt he's a recipe for disaster and a sure-fire way to remain broke.

The thing about racking up debt is that, at the time, it seems so little. You buy something on credit and the payment is $30 a month. You think to yourself, "oh that's it? I can do that".

What you doing to realize is it that it all adds up. $20 a month here, $15 a month there, you get the idea. It's so easy to rack up debt, but so hard to get rid of it.

If you already have tons of debt, then the best time to stop accruing more is now. Get up from wherever you are right now, and to cut up those credit cards. They are not doing you any good, believe me.

8. You don't buy in bulk

Hear me out on this one. Do you know what the economies of scale means? Here is the dictionary definition: economies of scale is doing things more efficiently with increasing size.

When you go to the store and buy groceries, do you buy one thing at a time? Maybe one packet of paper towels, one box of toilet paper, one packet of chicken, you get the idea.

When you shop at bulk buying discount stores, you save so much more money by buying Necessities in bulk. It's simple math really.

You spend less time at the grocery store, you spend less in gas by going to the store often, and do you spend less on groceries because you get discount by buying in bulk.

Give it a try :)

9. You are a victim of lifestyle inflation

Have you ever received a raise, but only realize that you are still broke at the end of the month? But how can I be? You are literally earning more than you did before, but still don't have any money left over. This is called lifestyle inflation.

It is human nature to adjust our lifestyle based on our income. The more money we learn, the more we spend. The less money we earn, the less we spend. We tend to spend exactly how much we learned, ending up with very little to nothing left at the end of the month.

Whenever you increase and come from either and raised, or earning an income from a side Hustle, it's important to keep your expenses and check.

Just because you are earning a more doesn't mean you deserve to spend more. If you kept your expenses the same, you will literally be able to save more and more as you earn more. Simple as that.

10. You are afraid to face the truth

Have you ever taken a second to take a cold hard look at your finances to figure out why exactly you are always broke? Are you afraid to see those big numbers looking back at you? Believe me, you aren't the only one.

I know, it's scary to think about. But the thing is, ignoring and pretending that it's not their only makes it worse. Sure, knowing what your minimum payments on your credit cards are is one thing, but it's another to figure out a game plan on how to completely pay those things off.

Just take a deep breath and be courageous. These finances are your responsibility, and ignoring them will not make them go away.

Once you have a strategy and game plan in place to not be broke anymore, you will feel much better.

Final thoughts

There are probably other reasons why you are always broke oh, but these 10 I'll probably the biggest culprits.

You don't necessarily fall into each and every one of these, but chances are you are doing one or more of these. If you are, then be honest with yourself and make the necessary changes.

Nobody else won't do it for you, so it's time you do it for yourself. With persistence and perseverance, you can definitely come out on top! Being broke is temporary, but being poor is a mindset. Anybody can get out of being broke, and so can you!

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If you travel a lot, are moving to a new city, or are just relocating, then you might have considered living in a hotel. Depending on how long you wanted to live in one, is it financially smart? The question then becomes, is living in a hotel cheaper than an apartment?

At first glance, it might seem like a no-brainer. How can a hotel ever be any cheaper than an actual Apartment? Well, like any financial decision, there are almost always two sides to this coin. Let's take a few minutes to explore the possibilities!

So before you brush off the idea, you might be surprised to learn that in some cases, living in a hotel can actually be much cheaper than living in an apartment.

Let's take a closer look at this and help you make the decision.

Types of hotels

When anyone imagines living in a hotel, they picture the typical one-room hotel that only has a bed, a tiny fridge, and a TV. That's not enough appliances to live on.

Well, you might be surprised to learn that there is a range of hotels that cater to these problems:

• Some hotels provide a full kitchen
• Other hotels provide laundry services
• Some hotels have multiple bedrooms
• Some hotels have covered parking
• Most hotels have cable TV
• Most hotels have broadband internet

These hotels are not hard to find. A little research and a little homework on Google can help you find the east. You might be surprised to learn that they aren't that much more expensive. In some cases, these hotels are even cheaper than high-end single-roomed hotels.

What are the cost differences?

First and foremost, this really entirely depends on where you live. If you live somewhere in the midwest like Ohio, then rent prices in Ohio for a one-bedroom apartment are about $788 per month. That averages out to about $65 per day.

On the other hand, if you live in a high cost of living area like Los Angeles California, the average cost for a one-bedroom apartment is $2,524 per month. That averages out to about $85 per day.

On the other hand, the cost of a single king-size bed hotel room will average about $89-95 per day. With these numbers on hand, which one is the cheaper option?

Remember, the rent amounts don't take into account utility costs and breakfast costs. If you live in an apartment, you have to make your own breakfast. In most hotels, breakfast is included. Not a bad comparison right?

Advantages of living in a hotel

Now that we have a general idea of how much it costs to live in a hotel, let's figure out what the advantages and disadvantages are, So she helped you make a more informed decision.

1. Not having to worry about utilities

One of the biggest perks of living in a hotel is not having to worry about utilities. I'm like living in an apartment, you are probably responsible for paying for cable, internet, gas, water, sewer, etc.

In a hotel, these expenses are not something you need to worry about. You can use as much water and electricity as you want without having to worry about utility bills.

2. Catered to room service

For a more luxurious life, being in a hotel is amazing when it comes to room service and Catering. He's a purse that you can't have in an apartment. I suppose you could, but it would cost you a pretty penny.

Having Hotel staff come in and clean up a room, make your bed, and give you clean sheets and towels is definitely a huge perk. For the general cleaning and replenishing of toiletries, you pay nothing for it.

You can always opt to pay for extras such as in-room dining come on but they don't cost too much.

3. Freedom to leave as you please

I'm like living in an apartment, there are no yearly leases that you need to sign. You aren't under contractual agreements to live in the hotel for a set period of time.

After a week, couple of months, or even a year of staying in a hotel, you can simply pack your bags and check out. No questions asked, and no penalties for breaking a lease.

The freedom and option to live when you please is definitely a plus, allowing you to move to different places without hesitation.

Disadvantages of living in a hotel

Just like most things in life, it's not all sunshine and Roses. There are disadvantages that you probably also need to take into consideration when living in a hotel.

1. It might be more expensive

Like I mentioned in the above examples, it really depends on where you live. If you opt to get a very fancy hotel in a desirable location, expect to pay quite a premium.

Very nice hotels can cost all the way up to $200 a night, and some even higher. This equates to roughly $3,000 per month in hotel fees.

Before jumping into an expensive hotel, it's important to figure out how much it actually costs and if it is actually cheaper than living in an apartment. Always make sure to do some math first.

2. Not having enough room

if you look at the standard size of a typical hotel room, it's actually pretty small. It's pretty much a bedroom with a bathroom. You can quickly feel cramped in this small space after a period of time.

If you can't find a hotel that has a kitchen provided, then you will quickly realize the importance of having a kitchen. Not having a kitchen will promote the behavior of eating out often. This gets old very quickly and really costs you a fortune on food costs.

So definitely take having enough room into consideration. If you can tour the hotel room first before living in it, then you can figure out how much space you need beforehand.

3. Not having your own permanent address

The logistical nightmare of having packages shipped to a hotel can become a nuisance. Having to figure out where package deliveries are made in a hotel it's not as simple as leaving it on the front door of your apartment.

Important things that you might be expecting in the mail, like credit cards and mail from family members might be a little difficult to coordinate. Sure, it's not impossible, but addressing packages to a hotel room number is not commonplace.

Alternative to living in a hotel

If you really want to live somewhere short-term without having to sign a year-long lease, there are options out there.

1. Renting out an Airbnb

The first option is to use something like Airbnb. This is similar to hotel service, but it's comprised of homeowners that rent out spaces in their house short term. Airbnb listings can also be much cheaper than a hotel, some being as low as $35 a night, averaging about $1,050 per month without utilities.

2. Getting a month-to-month lease

Living in an apartment doesn't mean that you have to sign a year-long lease. Some apartments allow you to sign a month-to-month lease, giving you the flexibility to break the lease at any point.

You can sign up for a month-to-month lease and move out after just two months of living there. The option is there for you.

3. Live in an RV

If you travel a lot and don't mind driving, then living in an RV might be an excellent choice. If you get yourself a good condition used RV, it's won't cost you nearly as much as you think.

A used RV can cost anywhere between $10,000 and $300,000, depending on your options, style, and features. It is literally just a place to lay your head to sleep, and you don't need anything fancy.

The best part is all you have to pay in utilities is your gas, and that's it. Especially if it's solar power, then your electricity is also completely free.

Final thoughts

On the surface, living in a hotel is really no different than living in an apartment. You still have your own space, your own door, and your own keys.

The biggest difference you'll have is a lack of privacy. The fact that hotel staff can come in and out of your hotel room might be a bit of a privacy and security concern.

On the other hand, when it comes to price, hotels can be about the same, less or even more than an apartment. It really depends on your location, and how I ended the hotel.

The good thing about some hotels out there is that they provide certain amenities such as built-in kitchens, laundry services, and even multiple bedrooms and some hotels.

Living in a hotel can be a great option for those that are nomadic and travel often, don't want to sign into a lease, and are worried about utilities.

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Real estate equity is basically the value of your primary home or investment property minus how much you owe on the mortgage. When you own a home and pay down the mortgage every month, you owe less and less on your loan. By doing so, it increases your equity in the home!

Ever wondered why most of the wealthiest people in America have their hands in real estate? The power of equity! It's then important that you learn as much as you can when it comes to this topic. Real estate equity contributes to the majority of the Net Worth for Americans

That was the abridged version, but there are a few more things to take into consideration when talking about equity in real estate.

Here's an example of what real estate equity is

If you have equity in your home, it means the home is worth more than what you owe your lender on your mortgage. How much it's worth is determined by an appraisal. The appraisal looks at how much similar homes near you are selling for, the condition and upgrades to your home, and then determines what it's worth today (if you were to sell it). Here's an example

• If you buy your house for $300,000, you put down 20% as a down payment ($60,000). You immediately have $60,000 equity in the home.
• If after 5 years you pay down your mortgage loan by $15,000, you now have $75,000 equity
• Then if the home over 10 years increases in value by $50,000, you now have $125,000 equity

So using this example, if you then sold your home after all the items above have happened, you will walk away with $125,000 cash (before closing costs, realtor commissions, taxes, and other fees).

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Is equity real cash?

Yes and no! Real estate equity is not liquid at all, which means to actually get cash from your equity, you would have to you sell your house first.

Real estate is the least liquid kind of investment because unlike many other investments, you can't just wake up tomorrow and get cash out at the ATM! So if you sell your house for more than you owe on it, and pay all transaction fees, yes you get cash from the equity.

So what's the point?

Simply put, real estate is a store of wealth! Unlike storing your money in the bank and having it sit there, you gain equity over time when the land where your home sits appreciates. In a growing economy, your home literally makes you wealthier while you sleep. No other kind of investment does that.

You can look at your home as a "mandatory savings account" since you're forced to pay down the mortgage, and by doing so, you owe less and less, whereas the home increases in value.

How can I figure out how much equity I have?

The first part is figuring out how much you owe on the home at this time. You can look at your last mortgage statement, or log into your mortgage lender and see your current balance. This will tell you how much you still owe on your home.

After you figure that out, you will have to figure out how much your home is worth. To get a quick idea of how much it's worth, you can use services like Zillow and enter your address to get a quick estimate. It's not always accurate, but it's usually pretty close.

You can also hire an appraiser to appraise your home and get an accurate worth of your home. Once you have those two numbers, subtract what the home is worth, and what you owe. That's how much real estate equity you have.

I personally use Personal Capital to keep track of my equity, and in turn my net worth! I suggest you check it out! It's free after all :)

Can I use the equity without selling the home?

Yes! A lot of people actually tap into their Home Equity to get cash out. This isn't free though! You are basically borrowing against your equity as a loan, and it has monthly payments just like a loan. You can either use a Home Equity Loan (HELOC) or Home Equity Loan. Because it's secured by a home, you typically get very low interest rates since its a much lower risk for banks. People usually use this credit for

• Paying off high interest rate credit cards
• Some buy investment properties with it
• You can use it for improvements on the home

Do I have to pay it back?

Nope! Real Estate Equity on your home is literally your money. The only thing you pay back on a home is the mortgage. That's the amount of money you borrowed when buying the home. Any equity you gain over time from appreciation and paying down the loan is all yours.

How do I build equity and how long does it take?

Equity builds as you pay down your mortgage loan, and the property stays or increases in value over time. Basically:

• You owe less on your mortgage, building equity
• Your home appreciates over time, building your equity

For most people, building equity takes time. Like, years. It starts off very slowly, especially if you put a low down payment when you bought the home. This is because the majority of your monthly payment goes to the interest and less on principal. The more you pay down, the more principal you will begin to pay down. As the years go by, and the property appreciates, the equity will build.

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This is one of the simplest statements but has the most profound effect on your life and financial success. The question is "How do I become rich?" Well, my dear reader, the answer is quite simple.

It's so easy to get carried away by the endless abundance of stuff. But what if I told you, in order to succeed financially, you actually have to learn discipline yourself and avoid stuff? To basically live like you're poor, so you can actually become rich?

Let's start off this article with one of Dave Ramsey's famous quotes:

If you will live like no one else, later you can live like no one else ~ Dave Ramsey

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This is obviously much easier said than done. If it was so easy, everybody would do it! The simple fact is, if you only strived to only acquire what you need, instead of what you want, you would quickly supersede the majority of people around you!

We want stuff!

You need transportation, but you don't need a brand new $50,000 car. You need clothing, but you don't need a $300 pair of shoes. You need a purse to keep your wallet and phones, but you don't need a $400 designer purse. Just because you can afford it (either you have enough in the bank account, or your credit card can buy it for you), doesn't automatically turn it into a need.

This constant need to get the newest, shinest, and prettiest stuff is the biggest thing the majority of people suffer from. And ironically, while striving to look their best, will be the exact thing that will prevent them from ever succeeding financially. So instead of trying to live like you're rich, you try actually live like you're poor? Let's dive a bit more into it.

Learn to live within your means

You have probably heard this statement before, but it's so easy to dismiss it as just another thing people say to help you keep your finances in check. Let's try looking at this thing called life from a different perspective.

If you are reading this, you likely have either a smartphone or a laptop. You likely have a warm bed and a roof over your head. It's so easy to take these things for granted, and just want more and more. How about you stop for a minute, take a look around, and just appreciate what you have and stop the insatiable urge to keep buying and spending.

This is exactly why we don't feel rich. It's in our wiring to always keep wanting more and more. And once we have it, we want even more. This is exactly why they call it the rat race. And you have to learn to turn that part of you off.

You only live once

To most of you reading things, the first thing that came to mind was YOLO. An excuse people have created to live recklessly and acquire stuff without consideration of what effect that has on their future. But what if we turned it around.

What if you realized that because you only live once, you should focus on the things that really mattered? The things we are all obsessed with give temporary happiness. Think of the last pair of shoes you bought last year. Or the last smartphone you bought. Or even that purse. You were incredibly excited when you got them, but are you just as excited today? No. Probably not. And here lies the problem.

Life is so short, and things will not fill that void we all have to find meaning and purpose. Your purpose is not to buy the latest and greatest things, but it's to live a long and fulfilling life.

The idea isn't to literally live like you're poor, like a homeless person, but instead, take a second to look around you in appreciation and practice a little discipline. It will go a very long way financially. Thank me later.

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The question What is considered a good score is not as simple as giving out a number. This is because there're tons of different credit scores out there, and to make matters worse, different lenders have different criteria for a good credit score!

I know, sounds complicated already, so allow me to provide a little bit of clarity to the question 😊

How the FICO credit score works

The FICO Score 8 is the most commonly used credit score model, by far, so we're going to focus on this model in this article. The score ranges from 300 to 850, and the higher the score the better.

According to myFICO.com, here are the credit score ratings:

The average fico score in 2019 hovers around 706 (which was defined as an all-time high). So to start off with, a good credit score is considered to be between 700 and 749.

What determines the credit score?

How the credit score itself is determined is one of the best-kept secrets of the modern age! I still don't know how they have managed to keep the formula such a secret. We do know the different categories that contribute to the overall credit score:

1. Payment History: Are all your bills paid on time every month?
2. Credit Utilization: How much do you owe your creditors relative to your total credit limit?
3. Age of Credit: How long have you had your credit cards and loans open?
4. Credit Inquiries: How many new accounts are you opening and have you been applying for new cards?
5. Credit Mix: Are you able to responsibly juggle different types of accounts (credit cards, mortgage, auto loan)?

Let's take a closer look at these aspects and how they affect your credit score.

1. Payment History (35%)

There isn't a formula that goes with your payment history. Simply put, do you pay all your credit bills on time and every single month without fail? This category makes up the bulk of your credit score. A single missed payment can cause your credit score to tumble down! So make sure you always pay your credit card bills on time, every time!

2. Credit Utilization (30%)

This is the second biggest category when it comes to your credit score. The formula is pretty simple.

• Add up the balances on all your credit cards
• Add up the credit limits on all your cards
• Divide the total balance by the total credit limit
• Multiply by 100 to see your credit utilization ratio (as a percentage)

This number is very important as it tells lenders if you are spending your maximum credit limits. This doesn't look good on your score, so Experts always suggest you spend no more than 30% of your limits. The lower, the better!

3. Age of Credit (15%)

This considers various aspects of your credit picture by looking at the age of your individual credit accounts. The older your credit cards, loans, etc, the better it looks on your score. This is because you would have proven that you are capable of maintaining your accounts over an extended period of time.

4. Credit Inquiries (10%)

Whenever you apply for a new credit card or loan, the lender performs what is known as a Hard Inquiry, and that dings your credit score a bit. The more the dings, the more it adds up! So only actually go through with a credit application if you absolutely have to.

5. Credit Mix (10%)

Lenders like to see credit holders being able to juggle different types of accounts on their credit reports. So having a mixture of credit cards, car loans, mortgages, etc, has a positive effect on your score.

What's my credit score?

Many credit card companies offer free credit score checking to their customers, but not all.

I personally use Credit Karma to get a general idea of what my credit score is, so I recommend you sign up and take a look for yourself to see what your credit score looks like:

How can I increase my credit score?

A good Credit Score is built over time. There are no quick and easy tricks to game the system, but with perseverance, you can build a great credit score. I always mention to people that you can go from literally 0 to a great credit score.

The way to do that is to pay very close attention to your credit and make sure you kill it on the 5 categories listed above. It will take several years, but with discipline and dedication, any credit score can be improved.

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Banks are typically a very safe place to keep your money. Not only is your money not going to be misplaced or physically destroyed, but it's also been a tried and tested way for many many years when saving your money. We're going to look at various reasons why the Bank is a very safe place to store your money.

1. Banks are too big to fail

This notion of banks being too big to fail has been demonstrated time and time again by the federal government. During severe economic downturns, the government has stepped in on multiple occasions and bailed out financially distressed banks. This has prevented banks from going under and going bankrupt.

The same can't be said for smaller banks since they don't hold as large of a workforce, nor handle that many transactions. However, over the years, smaller banks have gotten more creative, and in turn, are able to allow investors to make very large deposits. They then spread these funds between other smaller banks, and get to enjoy full FDIC coverage and protection.

2. Banks are backed by the Government

Just like how some banks are bailed out by the government, the government also has multiple programs that protect banks and the funds that they hold.

FDIC insurance

This government program insures funds that banks hold, up to $250,000 per individual. So if you deposit your funds in an FDIC insured bank, your funds are protected, up to $250k. Not all banks have this insurance, to make sure that you check with your bank and see if they are FDIC insured. If not, you might want to consider moving your money elsewhere.

Credit union federal insurance

Just like the FDIC insurance, credit unions also have the luxury of being federally insured. This insurance is just as safe as the FDIC, but primarily focuses on Credit Unions. So make sure that if you use a credit union, that it has these protections in place, and that you fall below their limits.

3. Banks have a rating system

Just like how an Uber driver has a rating, or a hotel has a rating, banks also have a rating system. This system helps people to figure out just how safe a bank is, and if you should worry about banking with them.

Services like Veribanc and BauerFinancial offer these services, and you can use them to get a detailed report on the bank you use or are interested in. Some of these services are paid, but they can give you a good understanding of how a bank is doing at any particular time.

4. Bank robberies aren't a concern

Yup, you heard that right! Most of the time, when a bank experiences a robbery, you probably aren't even aware that it happened. This is because banks are almost always insured against robberies.

Since the invention of the internet, robberies have become more and more digital, so you don't hear about the violent robberies occurring that often anymore. So you shouldn't worry about your money getting stolen from a robbery, as it is already insured.

Final thoughts

During times of economic uncertainty, a lot of people turn to withdraw money from their banks, fearing that they might lose their money. With all the reasons stated above, keeping your money in a safe and insured bank is definitely your best bet.

At home, under your mattress, or in a safe, is not going to be a good idea. If your house encounters a natural disaster, or you misplace your money, or even pests get to it, that money is gone. Your cash at home is not protected by the bank or the government, so when it's gone it's gone.

So to answer the question, yes, your money is very safe in the bank!

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Let me start off by making one thing crystal clear. If you want to settle your taxes with the IRS, it is possible, but very rare and does not happen often. The IRS most definitely has the authority to write off some or all of your tax debt. This is known as an Offer In Compromise or OIC.

Let's go over exactly how you can do this yourself.

What is an Offer In Compromise?

An offer in compromise is an agreement that you make with IRS. It allows you to prove to the IRS that you are 100% unable to meet your tax obligations and instead settle for less than the full amount you owe.

If you are able to demonstrate and prove that you are definitely unable to you pay your tax debt, then the offer in compromise is a way to settle your taxes with the IRS.

Who qualifies for an Offer In Compromise?

Not everyone qualifies for an Offer In Compromise. The IRS is very skeptical when it comes to OIC request. Generally, the IRS will accept an Offer In Compromise if you can convince them that:

• You are unable to pay the amount you owe in full or even over a payment period agreement
• The amount of tax that you owe is inaccurate, and you owe much less than they claim
• The payment in full would cause an "economic hardship" or be "unfair" or "inequitable”

To see if you indeed qualify, the IRS will take a very close look at to your income and all your assets. All of this information we provided by you when you fill out your form 433-A form.

If they go over your claims about your finances, then the IRS will consider helping you settle your taxes.

How to apply for an Offer In Compromise

Now that you understand what an Offer In Compromise is and who qualifies for one, then it's probably clear if you personally qualify or not. If you still believe that an OIC is a good option for you, here is how you apply for one:

1. Complete the Offer in Compromise Form 656
2. Pay the $186 application fee
3. Complete the Form 433-A that discloses all your financial information. You will also need to submit supporting documentation to your claims
4. Once the IRS receives, reviews, and accepts your application, they will begin to negotiate your settlement
5. You and the IRS will come to an agreement on the percentage of how much taxes you are to pay back over a certain period of time. It's typically expected to be repaid in under 2 years.

How to evaluate your personal situation

Like any financial situation, it varies by individual. The IRS, fortunately, provides a tool called the OAC Qualifier Tool. This little tool helps you go to the qualification process and see if you qualify to request Offer In Compromise and settle your taxes with the IRS.

This whole process can get rather complicated, so it's always highly recommended to work with a qualified tax expert to help you determine your assets, liabilities, and income. They can definitely help you determine if you qualify before attempted to go through the process. They can also help you determine how much to offer when dealing with the IRS and settling your taxes.

The more accurate and complete your application is, the higher your chances of it being accepted. So make sure you work with a professional that'll help you and guide you through the process.

Wish you the best of luck!

The post How To Settle Your Taxes With The IRS – Step By Step Guide appeared first on Digest Your Finances.

If you are still paying for Cable TV, chances are, you're probably paying waaay too much for tv! Is $100+ every single month really worth it for TV? And besides, do you really watch every single channel on cable TV? Chances are you don't. Time to cut the cord, my friend!

Back in the day, cable TV was probably your best and only option for good TV. Internet wasn't as fast, and devices weren't as smart as they are today. Wanted to watch a show? You probably needed to set a reminder on your phone to watch it! Or maybe you enjoy commercials? Yup, cable TV was the way to go.

Nowadays, with ever-growing internet speeds and streaming services, cable TV has kinda turned into a dinosaur. Sure, a lot can be said about the perks of having live TV, but chances are, streaming services and other options do it better for far less money! Here's your ultimate guide to get you to cut the cord.

Get an HD Antenna

The very first and probably the easiest way to get up and running is to get yourself an HD antenna! This little contraption plugs into the back of your TV and instantly gives you unlimited free access to local channels that broadcast through the air.

Depending on your state and location, you might be surprised at what HD channels are offered for free. I myself got an HD antenna and I'm able to watch CBS, Fox, and even HGTV absolutely free! However, if you still happen to live or in the rural area and are not close to any broadcasting Towers, then you might not be able to get good reception. Something to keep in mind

The antenna itself might cost you as little as $10 and if the free channels that broadcast through the air are your favorites, you can actually end up with TV for absolutely $0.

Get a Streaming Service

here is the cream of the crop when it comes to cord-cutting. There are so many different streaming services out there now. Of course, the obvious ones would include Hulu, Netflix, Amazon Prime, and even YouTube TV.

These are just a handful, but can save you a fortune! Do you know how much you are currently paying for cable TV? It's probably close to at least $100 or more. Do you know how much a streaming service cost? An average of 9 to $15.

Let that dollar amount sink in a little bit. People out there are spending hundreds of dollars every single month for some television. I know this might ruffle up some feathers but cable TV is so incredibly overpriced! You can probably get be much more Superior Service by getting yourself a streaming service.

Go ahead and give your cable provider a call and cancel that insanely priced subscription and enter the world of streaming services.

I myself use both Hulu and Netflix for my TV Entertainment. Check them out, they offer free trials too :)

Something to consider

Okay sure, it all sounds good and rosie, but like most things there is always a catch. The thing is, because they are so many streaming services out there, sometimes only having one streaming service will not be enough.

For instance, let's imagine that you have a Netflix account. That's all fine but now you wants to watch some really good movies by Disney! Since Disney Plus debuted, you probably need to get a Disney Plus account. That's another subscription to consider.

Now that you've got yourself a Netflix and Disney Plus account, you can't miss out on HBO exclusives like Game of Thrones! Well done! Now you will need to get yourself an HBO account!

See the problem here? Having so many different streaming services can really add up quickly! If you went ahead and got an account on each one of these different streaming services, it would end up costing you more for this. So before signing up for each and every streaming service out there, make sure you only pick one or two that you really can't live without. You can't have them all without pay for it! Got to stay within your budget.

Should you cut the cord?

In a nutshell, yes you should definitely cut the cord! There are so many advantages that come with on-demand streaming services over traditional cable TV. If you also went ahead and got yourself an HD antenna, you will also get to experience pretty good local channels for free.

The only caveat to cord-cutting is that you will need to be careful not to sign up for a lot of streaming services. These costs add up pretty quickly. So be careful not to go from one expensive thing to another.

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Guest Post by Lyle Solomon

Financial success leads to financial freedom. It helps you lead a comfortable life and spend money as you wish. 

Why is financial success important to achieve?

Financial success is essential to lead a stable and healthy lifestyle. It is especially important when you are the family’s bread earner.  

When talking about financial decisions, it is pretty challenging to make them alone. Financial advisors play a role here. Seeking help from these experts can assist you in planning a better future. Your family and their lifestyle, as well as their future, depend on your financial moves. Having a clear motive and a layout of your investments and future savings will help you in the long run. Financial success is achieved when you buy your favorite expensive goods without even thinking twice.

Why are most people unable to achieve financial success?

Most people fail to achieve financial success due to a lack of knowledge and planning. You need to know how to save and distinguish between a “need” and a “want.” The absence of the desire to save money also leads to financial failure. Wasting time and your energy is one more reason why financial success seems so challenging to achieve.

A vision of the future is necessary to plan for investment and savings. Lack of this vision leads to an uncertain and stressful future. Often a fear of calculated risks stops people from making investments.

Debt management also plays a vital role in achieving financial success. Paying off debts is necessary to gain financial freedom. Debt keeps a person overburdened and hence many people are unable to succeed financially. So it is important to reduce debts. There are various ways to pay off your debts at low-interest rates, such as payday loan consolidation, credit card debt consolidation, debt snowball, debt avalanche, etc. It’s essential to explore and use them to eliminate debts as soon as possible.That would help to become financially independent quickly.

How can you achieve financial success?

It is never too late to set a  financial guideline and start working accordingly. Some guidelines remain constant irrespective of your age and lifestyle. Here are some basic guidelines for a steady future.

1.       Increase your earning potential :

Increasing the cash flow will help you take steps towards achieving your goal. Finding more ways to earn money or boost your income comes first in your checklist, and passive ways to earn money might help you increase your income.

Other than trying jobs with more pay, you can always use your hobbies to increase your income. For example, you can offer a music class to eager learners if you are good at it.

2.       Leading a frugal lifestyle :

Wasting money on too expensive hobbies can be the main reason for excess cash flow. There can be ways to minimize your expenditure. Start earning money rather than losing them from these same hobbies. You should not spend earnings on unnecessary items. Financial discipline is essential for a healthy lifestyle. 

3.       Spending less than you earn :

You tend to spend more than you deserve no matter how much you earn. Rather than making big sacrifices, you can start with spending less each time you buy something new. This will make some room for savings. Higher expenditure in comparison to income leads to a poor lifestyle that disturbs money flow. Differentiating between necessity and luxury will help you cut off some items from your expenditure checklist.

4.       Setting up a budget plan :

Budgeting helps in savings and as well as gives you a clear vision of further expenditure. You need to have a clear idea about your savings and spending to maintain a balanced financial record. Having a ready-made plan will help you maintain a basic guideline for spending your money. You should not spend money on buying expensive goods which can be purchased at a low price. This will also improve the choice of goods you invest money in.

5.       Having a solid retirement plan :

If you are offered a 401(k) plan, grab it as soon as possible. Having a retirement plan helps you to remain confident about the future. 

6.       Maintaining a savings plan :

Even though you have a retirement plan, you can always have a savings plan for your future goals. Start saving now if you plan to go on a trip someday soon. This will help you achieve your expensive goals even if you have limited earnings. Start by only saving 5% of your income. Make sure you save in such a way that no temptation can make you withdraw that money unless your goal is achieved.

7.       Considering a payday loan consolidation :

A payday loan consolidation will help you gather all your high-interest payday loans and convert them into a low-interest single loan which you can pay on a long-term basis. You will only pay a single amount every time, which won't change until your debt is paid off.

All you need to do for payday loan consolidation is to take out a personal loan from a bank with a much lower interest rate, and it gives you much more time to pay off your debt.

8.       Checking o some insurance plans:

Maybe it is time you spend some money on an insurance plan for some primary assets that you possess. If you have young members in the family, you may consider opting for a life insurance plan and maybe a college savings plan for your kids. Health plans can also protect your unseen future.

9.       Investing :

You can consider investing in certain places if you expect a profitable return shortly. Your annual income can be increased with the help of investment, and a sound investment strategy can generate more revenue.

10.     Asset protection:

To protect your asset, you can always buy an insurance plan that will cover you for an unseen future. Assets that need coverage may include your car, your house, etc.

11.     Paying off debts :

This is a crucial point in your checklist. Paying off credit card debt is a good decision if you expect a hassle-free future. Credit cards are so tempting to use that they might overburden you with debts. Paying them off and lowering the amount you use might help you. 

12.     Getting an emergency cash fund ready :

It is always a wise decision to get a sum of money ready equal to half of your wage. Bad things don't knock before coming. So it is our duty to be prepared for some unwanted event that may or may not occur, keeping in mind our loved ones.

13.     Paying bills on time :

Try paying bills at the scheduled time. This will prevent you from paying late fees. Interest rate and credit score will rise if you maintain an on-time payment history.

14.     Keeping your records updated :

Maintaining a good record of your cash inflow and outflow, as well as investments and debts, can help you achieve your financial goals easily. Tax payments, bill payments, and dues must be kept in good record.

Conclusion

Having a concrete financial plan and setting up milestones can improve the quality of life and promise a better future. Financial success can only be achieved through complete financial planning, secure investments, and budgeting. Maintaining a clear list of all these will enhance your financial skills.

If it is too difficult to lay down a plan for yourself, try consulting with an expert. Saving money can be tricky at times, but it is still the best way to plan for a better future for you and your family. It is never too late to decide to prepare a better tomorrow for you.

Once you achieve financial success, you will start leading a smooth life. Being debt-free will help you to stay unanswerable to people. Deciding to lead a financially successful life is the best possible way of leading a proud and healthy life.  Achieving financial freedom refers to not worrying about your finances. 

The post 14 Ways To Achieve Financial Success in 2022 appeared first on Digest Your Finances.

Apps have really come a long way, haven't they? Remember the time when apps were only good for burping noises and games? Gone are the days :) now we have apps that are capable of transferring money between users. But which one should you pick?

Today, we'll go over the top 5 best apps for transferring money. We'll look at the features, speed, and any fees associated with transferring money.

Let's hop right into it.

1. Venmo

Venmo has pretty much become a cultural phenomenon when it comes to you transferring money with ease. Venmo is pretty much synonymous with the term money transfer as shown by its vast popularity.

The company had more than 40 million active accounts at the end of the first quarter of 2019, demonstrating how much users have put their faith in the app.

Venmo works by users linking their bank accounts or debit cards directly within the app. Once that is done, transfers can be done to other users of the app.

Transactions done using bank accounts and debit cards are completely free. However, users will have to wait one to two business days before receiving funds. You can also pay extra for an instance transfer, which was 1.5% at the time of writing this.

2. WorldRemit

If you are like me and have tires internationally, then WorldRemit would definitely be the app of choice. The majority of money transfer apps out there have limited International capabilities. WorldRemit Has dedicated the majority of his functionality for this purpose.

The app is very simple to use, very slick interface, and has access to more than 150 countries. The only caveat is the transfer fees, which entirely depend on what country you are sending money to and from.

Although they are fees associated with International transfers using WorldRemit, they are still much cheaper than using Western Union and wire transfers using Banks.

3. PayPal

Most people already know all about PayPal. PayPal has been around longer than most of the apps on this list. It has solidified itself as the number one go-to platform for online transactions.

Since it has been there for a while now, it is probably the most secure platform out there. It has had time to improve its infrastructure and gain trust amongst its users. Have the time of writing this, PayPal reports a total user base of 227 million accounts.

Unlike Venmo, debit and credit card transfers within the United States cost about 2.9% in fees. If you're sending money to other countries, then there are additional charges as well. These will also vary depending on the country.

4. Facebook Pay

First introduced on November 12th, 2019, Facebook pay is Facebook's effort to making online payments and transactions easier and secure. Considering that they have a user base of more than 2.7 billion, chances are everyone you know probably has a Facebook account.

This makes transferring money and breeze if the recipient also has Facebook. The money transferring feature is also completely free an integrated within the Facebook Messenger app.

The service requires that you connect a debit card info to send and receive payments. Payments take anywhere between 1 to 5 business days.

5. Zelle

Zelle has a unique proposition when it comes to transferring money between users. Although there is an app that you can download, it doesn't necessarily require you to do so.

Since Zelle has partnered with most of the large banks here in the United States, the tool is already embedded within the banking apps. For example, U.S. Bank and Bank of America both have Zelle integrated within their apps.

In theory, anyone that has a bank account with one of the large US Banks can use Zelle to transfer money between each other.

Zelle also has zero transaction fees, and offers instant transfers without fees as well. So if you already have a bank account with one of the large U.S Banks, then Zelle might be good for you.

Which app is right for me?

Now that we have a list off the top apps for transferring money, which one you choose will largely depend on where you're sending the money to, your recipient, and how much you are trying to send.

To summarize:

• Venmo - Most commonly used app offering 0% transaction fees using bank accounts and debit cards
• WorldRemit - Best when performing international transfers as it offers over 150 countries
• PayPal - Best for people conducting business transactions as it provides buyer and seller protection
• Facebook Pay - Best for friends and family since most people already have a Facebook account
• Zelle - Best for direct bank to bank near-instant transfers with 0% transaction fees

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The post Top 5 Best Apps For Transferring Money 2022 appeared first on Digest Your Finances.

Oh yes, how do you do combine the one thing that we already do the most (being on our phones) and earn money while you're at it? Money Making Apps, that's how! Let's talk about how you can make a little extra money. All of it adds up very quickly.

I have to admit, I love being alive this day and age! What other time in the history of the world have you been able to make money on an app?! Never!

So let's take a look at the Top 10 Best Money Making Apps of 2021 that you can start using asap!!

1. iBotta

iBotta is this awesome app that lets you earn cash back for almost every purchase that you make at most stores out there! You can either connect your store account (like Amazon) and it automatically tracks your purchases and you earn cash back from what you do already!

For stores that don't have a connector on iBotta, you can also upload your receipt from purchases and earn cashback that way! Your earned money accumulates in your account and you can cash them out into Paypal or gift cards. How awesome is that!

2. Decluttr

Most of us probably have items in the home we don't use anymore, or just literally forgot about it! Instead of just having it sitting around, why don't you just sell them for a little cash instead? Here comes Decluttr to the rescue!

You can sell most of your old electronics, books, and even CDs! Totally free to join! You should check out Decluttr.

3. Acorns

Acorns is one of my all-time favorite apps to make some extra cash. It does that by investing extra change for you! Set it up once and forget about it! If you aren't experienced in stocks and bonds investing, this app takes the money you spend on a regular basis and rounds it up to the nearest dollar. And you don't have to think about it. It's awesome. I wrote an extensive article about Acorns here.

For example, if you spend $19.10, the app will take $0.90 and invest it for you! You can also customize how much it should take, and what portfolio you’re interested in investing in. Super easy to use for the beginner! Highly recommended.

4. Swagbucks

Swagbucks makes earning extra cash a piece of cake! You can earn by watching videos, shopping at your usual stores, or even playing games! You can even earn some extra cash by referring your friends too.

As you earn SBs, you can eventually redeem for gift cards and PayPal cash. Another cool perk is that you can exchange your SBs for gift cards at a discount so your money even goes further! You should check it out.

5. Sweatcoin

Sweatcoin is one of the most interesting apps out there without a doubt! Get paid for walking! Like, this is probably the easiest extra cash anybody could ever make! This app is especially beneficial if you walk a lot, so why not get paid doing it?

The app is completely free, so why not just download it and just go about your every day like you usually do? You can exchange the money you earn for tech products like iPhones, gift cards, or just cash out with Paypal.

6. Survey Junkie

Like the name says, you get paid to take surveys! Simple as that! Survey Junkie is a free app, and you take any kind of survey you want at your own time. It even tells you beforehand how much the survey is going to pay before you take it, so you can determine what you want to take.

If you want some quick cash, this app is definitely worth a look. You can make $15 or more in a few minutes of just answering questions! Super easy to use too. Check it out.

7. CoinOut

Coinout is a free app that lets you upload receipts from shopping that you do from your preferred store. Scanning receipts is such a simple thing to do, so you can do it right after shopping, and just earn free cash!

It's completely free to use, so check it out!

8. Foap

If you're an aspiring photographer or videographer and enjoy taking beautiful pictures and videos, you can actually sell your media on Foap for some extra cash! Simply download the app and upload the media you want to sell!

Another awesome perk is that a single photo can be sold more than once, so you can potentially make good extra income if you have good photographs!

9. Truebill

The Truebill app is a bit unique in this list. Instead of actually earning you cash, it can help you negotiate your reoccurring bills and subscriptions and effectively save you hundreds of dollars a year!

This app is also pretty awesome because it can cancel unwanted subscriptions for you for free! A definite must to check it out!

10. Paribus

To end the list, let's look at Paribus! One of the easiest ways to make some extra cash! You can earn money back from items you've already bought!

How it works is, on eligible purchases, when the price of the item drops, you may earn money back! To top it off, they can even file claims with Walmart and Amazon if your delivery is late! this must be one of the easiest ways to earn money back!

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The post Top 10 Best Money Making Apps of 2022 appeared first on Digest Your Finances.

With the popularity of the infamous Black Card (American Express Centurion), may people seek the cool and prestigious status symbol of a metal credit card! So which are the best and easiest Metal Credit Cards to get?

There's a lot to be said about a metal credit card. Not only are they shiny, heavy, and quite the conversation starter, they typically come with some really awesome perks.

There's just something about a shiny metal credit card and the prestige that comes with it!

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So I curated a list of the top 5 metal credit cards you should think about getting if you're in the market for one..

1. Amazon Prime Visa Signature

Le's kick it off with one of the newest cards out there, the Amazon Prime Visa Signature Card. The Amazon Card was ranked as CNBC Select’s best credit card for online grocery shopping. This is because of its incredibly high 5% cash-back on all purchases made on Amazon.com or Whole Foods Market! That's unbeatable, and an absolute must-have for those that do majority of their shopping on Amazon.

You also earn 2% cash-back at restaurants, gas stations and drugstores. You then earn 1% back on all other purchases. It also has a pretty cool $70 sign up welcome bonus without any spending requirements

Highlights

• Weighs 14 grams
• $119 annual fee (Amazon Prime membership)
• $70 welcome bonus
• Unlimited Cash Back Earnings

2. Apple Card

This card probably needs no introduction. When it came on the market, it caused such a media storm, as all Apple products do! True to the minimalist design from Apple, the card is laser etched with the cardholder’s name and doesn’t have a printed credit card number, expiration date or security code.

The Card has a “Daily Cash” cash-back program. You earn 3% cash-back on purchases directly from Apple, Walgreens, Nike, Uber, and Nike. You also earn 2% cash-back on purchases made through Apple Pay and 1% cash-back on all other purchases.

Another excellent feature is seeing your overall spending at a glance, with trends and gorgeous visualizations. It could almost double up as a budgeting app so you see where you spend the most

Highlights

• Weighs 14 grams
• $0 annual fee
• Unlimited Cash Back Earnings

3. Chase Sapphire Reserve

One of the most popular metal cards is the Chase Sapphire Reserve. Similar to the Chase Sapphire Preferred, it is for the more avid travelers and those that spend more, with its accompanying higher annual fees. The $550 annual fee is definitely on the high side, but if you take advantage of the $300 travel credit every year, your annual fee will actually be more like $250.  Another reason this card is an excellent choice for travelers is that it allows you to transfer points you earn to several hotels and airlines 1:1. That includes Marriott Rewards, Southwest Rapid Rewards, United's MileagePlus amongst others.

Highlights

• Weighs 13 grams
• $550 annual fee
• $300 Annual Travel Credit
• Free Doordash Dashpass
• Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.

4. American Express Platinum Card®

One of the most prestigious metal credit cards from the makers of the Amex Black Card! Owners of this card get perks such as VIP status and $15 each month in Uber Cash for U.S. rides on your Uber account. Plus get a $20 bonus in December for up to $200 each year! Holders can also select one qualifying airline and then receive up to $200 in statement credits per calendar year when incidental fees, such as checked bags and in-flight refreshments, are charged by the airline. Really great travel card.

Highlights

• Weighs 18 grams
• $500 annual fee
• Earn up to $200 airline fee credit every year

5. Chase Sapphire Preferred

The Chase Sapphire Preferred card might have single-handedly made metal credit cards accessible to everyone, and made them very popular! It's a very good entry-level prestigious credit card with an annual fee of $95. Users get 25% more value for their points when they redeem them for travel through Chase Ultimate Rewards.

Highlights:

• Weighs 13 grams
• $95 annual fee
• Free Doordash Dashpass
• Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.

Final thoughts

Most of these metal credit cards are intended for those with a relatively high score, typically a FICO score of 720+. If you are the kind of person that typically carries a credit card balance at the end of each month, then these cards are probably not for you.

Another thing to consider is that when getting a prestigious metal credit card, they also typically come with annual fees. If you spend less than $1,000, it is typically not a good idea then to get a card with annual fees as high as these because it's hard to offset your fees with the rewards you get from using them.

But something just has to be said about having a hefty status symbol such as a metal credit card! I myself use the Chase Sapphire Preferred and the perks that come with the card such as insurance, Doordash pass, and the occasional glance I get at the Drive through? Priceless!

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The post Best And Heaviest Metal Credit Cards You Should Get 2022 appeared first on Digest Your Finances.

House flipping is a real estate investment strategy where an investor buys a property, makes renovations and improvements to it, and then sells it for a profit. Flipping a house involves identifying properties that are in need of renovations or updates, and then making those improvements to increase the value of the property. The goal of flipping a house is to buy low and sell high, and to generate a profit from the difference between the purchase price and the sale price of the property.

What are the steps to flip a house?

While flipping a house can be a profitable venture, it's not without its challenges and risks. Here are some key things to consider if you're thinking about flipping a house:

1. Research the market: Before you start looking for a property to flip, it's important to research the local real estate market to understand the supply and demand for homes in the area. Look for properties that are in need of renovations or updates, as these can often be bought at a lower price and then sold for a higher price after improvements are made.
2. Develop a budget and timeline: Once you've found a property to flip, it's important to develop a budget and timeline for the renovations and improvements. Be sure to factor in the cost of materials, labor, and any other expenses, and allow enough time for the work to be completed and the property to be sold.
3. Make strategic renovations: When making renovations to a property, it's important to focus on high-impact improvements that will add value to the property. This could include updating the kitchen and bathrooms, adding new flooring or painting, and making any necessary repairs.
4. Price the property correctly: When it's time to sell the property, it's crucial to price it correctly. Research comparable properties in the area to determine a competitive price, and be prepared to negotiate with potential buyers.
5. Be prepared for unexpected challenges: Flipping a house can be a rewarding experience, but it's not without its challenges. Be prepared for unexpected expenses, delays, or other challenges that may arise, and have a plan in place to deal with them.

How much money can you make house flipping?

The amount of money you can make from flipping a house can vary depending on a number of factors, such as the location, size, and condition of the property, as well as the scope and quality of the renovations and improvements. In general, the potential profit from flipping a house is the difference between the purchase price of the property and the expected sale price after renovations are made.

To get a rough estimate of the potential profit from flipping a house, you can start by looking at the purchase price of the property and the estimated cost of renovations and improvements. For example, if you buy a property for $100,000 and plan to spend $50,000 on renovations, the total cost of flipping the house would be $150,000. If you expect to sell the property for $200,000 after renovations, your potential profit would be $50,000 ($200,000 sale price - $150,000 cost of flipping).

It's important to note that there are many variables that can impact the potential profit from flipping a house, and it's difficult to predict with certainty how much you can make from a flip. The actual sale price of the property may be higher or lower than your estimated sale price, and there may be unexpected expenses or challenges that arise during the flip. It's always a good idea to consult with a real estate professional or a financial advisor to help you develop a budget and plan for your flip, and to help you make informed decisions and maximize your potential profit.

Can you lose money flipping a house?

Yes, it's possible to lose money when flipping a house. Flipping a house involves buying a property, making renovations and improvements to it, and then selling it for a profit. However, there are many variables that can impact the success of a flip, and it's possible for the cost of renovations and improvements to exceed the expected sale price of the property.

To minimize the risk of losing money when flipping a house, it's important to carefully research the real estate market, develop a realistic budget and timeline, and make strategic renovations that will add value to the property. It's also important to be prepared for unexpected expenses or challenges, and to have a plan in place to deal with them.

Final thoughts

Overall, flipping a house can be a profitable investment, but it's not without its risks. By carefully planning and executing your flip, you can maximize your chances of success and achieve your financial goals. However, it's always a good idea to consult with a real estate professional or financial advisor to help you make informed decisions and avoid potential pitfalls.

The post How To Flip a House With no Experience appeared first on Digest Your Finances.

A 401k is a type of retirement savings plan that allows employees to save and invest for their future. Contributions to a 401k are made on a pre-tax basis, and the funds in the account grow tax-deferred until they are withdrawn. While 401k plans are designed to provide retirement income, there are certain circumstances under which funds can be withdrawn early, known as a "distribution." When is it okay to have an early 401k withdrawal, and what are the risks?

Reasons for early withdrawal

One common reason for taking an early 401k withdrawal is financial hardship. In certain cases, such as when a person is facing high medical expenses or has lost their job, they may be able to withdraw funds from their 401k without penalty. However, these distributions are subject to income taxes, and the amount that can be withdrawn is limited.

Another reason for taking an early distribution from a 401k is to purchase a first home. Under certain circumstances, a person may be able to withdraw up to $10,000 from their 401k to use as a down payment on a home without incurring a penalty. However, the funds must be used within 120 days of the withdrawal, and they are subject to income taxes.

Risks of early 401k withdrawal

It's important to note that taking an early distribution from a 401k should generally be avoided, as it can have negative consequences for your retirement savings. Early distributions are subject to income taxes, and they can reduce the amount of money you have saved for retirement.

For example, if you are in the 25% tax bracket and you withdraw $10,000 from your 401k, you would have to pay $2,500 in taxes on that amount, in addition to the $1,000 penalty for taking an early distribution.

Additionally, taking an early distribution can also result in a 10% penalty, unless the funds are being used for a qualified reason such as a financial hardship or the purchase of a first home.

There are some exceptions to the early withdrawal penalty, such as for certain medical expenses or if you become permanently disabled. However, these exceptions are narrow and should not be relied upon unless you are certain that you qualify.

Allowed reasons for an early 401k withdrawal

There are some exceptions to the early withdrawal penalty for 401k plans, which allow you to take an early distribution without incurring the 10% penalty. These exceptions include:

1. You are permanently disabled: If you are permanently disabled and unable to work, you may be able to withdraw funds from your 401k without incurring the early withdrawal penalty.
2. You are experiencing financial hardship: In some cases, you may be able to withdraw funds from your 401k to cover certain expenses related to financial hardship, such as medical expenses or the purchase of a primary residence.
3. You are taking substantially equal periodic payments: If you elect to take substantially equal periodic payments (SEPP) from your 401k, you may be able to avoid the early withdrawal penalty. SEPPs are a series of payments made at least annually over your life expectancy or the joint life expectancy of you and your beneficiary.

Alternatives to early cash withdrawals

In an emergency, there are several ways you can get cash quickly to cover unexpected expenses or urgent needs. Here are some options to consider:

1. Take out a personal loan: If you have a good credit score, you may be able to take out a personal loan from a bank or online lender to cover your emergency expenses. Personal loans typically have a fixed interest rate and a fixed repayment term, so you'll know exactly how much you'll need to pay back each month.
2. Borrow from friends or family: If you have a close relationship with friends or family members, you may be able to borrow money from them to cover your emergency expenses. Be sure to agree on the terms of the loan, such as the amount, interest rate (if any), and repayment schedule, and make sure to repay the loan on time to maintain the relationship.
3. Sell assets: If you have assets such as stocks, bonds, or jewelry that you can quickly sell, you may be able to get cash to cover your emergency expenses. Be sure to consider the potential tax implications of selling assets, and weigh the potential cost of selling against the benefits of having cash available in an emergency.

Final thoughts

Overall, while there are certain circumstances under which an early distribution from a 401k may be necessary, it's generally best to avoid taking an early distribution if possible. This will help ensure that you have the maximum amount of money saved for your retirement, and it can help you achieve your financial goals in the long run.

The post Risks of an Early 401k Withdrawal appeared first on Digest Your Finances.

Have you ever tried looking up a step-by-step guide on how to start a blog and make money from it? If you have, then you've no doubt seen the plethora of blog posts and information out there on how to get started. I remember when I wanted to start a blog and got super overwhelmed.

What I've realized is that most of the so-called tutorials used terminology and jargon that I'd never seen before. I got super confused for a while and ended up wasting time and money just to start my first blog.

Now here we are, and I'm going to do it right! So you want to start your own blog and make money from it? Then you've come to the right place! I'm going to take the time and show you exactly how you can get a WordPress blog started on Bluehost in 30 minutes or less! Yep, I tried this with the timer :)

Click here to start your own WordPress Blog

Why should you consider blogging?

I remember before I ever got started, I used to ask myself if blogging was even worth it. I mean, what would I get from writing articles anyway? What I've realized over the years is that I was asking the wrong question. The question should have been "do I have something I want to share with the world?"

If your answer is yes, then blogging is absolutely worth it! Not only can you start a blog as a wonderful hobby, but it can make you a significant amount of money if done right!

Blogging is the easiest and best way to share your thoughts and experiences with the world. You don't need a fancy camera, a fancy microphone, or even a fancy computer to get started. Heck, you could even start blogging using just your phone! Gotta love technology!

Like I mentioned, it literally does takes 30 minutes or less to set up a blog. You can start sharing with the world in no time! Do you know what the best part is? By blogging consistently and passionately, you can actually get paid to share your thoughts and experiences!

With that said, I genuinely think blogging is something every single person should consider doing. So look no further if you're trying to figure out how to start a blog and make money from it. I'll show you how ;)

Blog ideas

All right, now that to you're super pumped to get started, it's time to figure out what type of blog you want to create. There are loads of ideas out there, so this might be where you're getting stuck.

I remember before I even got started blogging I got stuck on trying to figure out what kind of blog to create. Don't overthink it. Let me give you some ideas to start with.

Examples of blogs

Lifestyle Blog

Are you a person between the ages of 16 and 90? The answer is probably yes. In that case, a lifestyle blog is definitely something to consider.

The thing about life is everyone experiences different things. You might be young but have experienced great travel spots. Maybe you're super trendy and love fashion. Or maybe you've got some life lessons you want to share. Oh, maybe you love cooking? On the other hand, if you're already retired, then you've also lived a long life and have quite a bit of life experience under your belt!

See, instead of keeping that amazing life, you've lived a secret, why don't you write it down and share your experiences? Boom, lifestyle blog.

Personal Finance Blog

Oh yes, how about you start a blog just like mine? :) Alright, maybe not just like mine, but a personal finance blog nevertheless. Maybe you have taken courses and classes relating to personal finance. Or maybe your career relates to personal finance. If so, then a personal finance blog might be just for you.

There is never enough information out there when it comes to personal finance. Anybody and everybody have their own personal experiences when it comes to money. A different and fresh perspective will always be helpful to someone!

Fan Site Blog

Are you a super fan of something? Maybe it's Marvel, or maybe it's a certain genre of music. Or maybe even Dragon Ball Z! No matter what you absolutely love talking about, you can actually blog about it!

This is especially true if you have extensive knowledge about it. Take a second and think about something that you always love and can't stop talking about. What do you always have something to talk about? If you have that thing, then that thing might be your first blog!

Don't overthink it. If you can think of an idea, Google it, and find other blogs talking about it, then you have a winning idea. It doesn't matter if they are our other blogs out there that talk about your awesome topic. Every perspective is different, and so your blog will be unique!

Reviews Blog

Are you super techy? Or maybe you just love cars. No matter what topic you might think of, there is always room to write reviews about it.

We live in a super-connected world where people base their purchase decision on other people's opinions. This is where you come in! You can start writing reviews about literally anything and everything. You can almost guarantee that somebody out there will Google a review about it and bump into your blog!

Other types of blogs

If you don't want to start a blog about any of the topics I mentioned, let me give you a nice list to go over:

• Travel
• Health
• Fitness and sports
• Hobbies
• Food
• Entertainment
• Gaming
• Finance
• Relationships
• Family and home
• Education and career
• Social networks
• Politics and society

Nice healthy list to get you started! Don't get stuck at this point. Your niche has to be something you thoroughly enjoy talking about. Imagine writing 1000 blog posts about a topic you don't even love? No thanks! :) Hope this list helps

So how much can you make blogging?

An Unlimited Amount. That's not an exaggeration either!

If I was to ask you how much you are earning at your job right now, what would it be? $35,000? Maybe $70,000? Whatever the number is, it's pretty static. You basically have to wait for your annual raises or maybe a promotion to change that.

Blogging on the other hand is like running a business. You start off with making $0 and slowly grow to $1,000 a month. As you grow your readers, you can end up making tens of thousands of dollars every single month!

Your income is directly related to the number of readers you have. Don't start a blog with the sole intention to make money. Instead, provide a good resource of valuable information and readers will flock to it. Once you have loyal readers, the amount of money you can make with your blog can literally skyrocket!

Steps to creating your first blog

Now that we've cleared the air, its time to dive right in and get you going! 30 minutes and a computer is all you need to get started. So here are 5 Easy Steps you should take to creating your very first blog!

Step 1: Pick a blog niche

This is probably the most important step that you're going to take. Picking a niche. Take a second to think really hard on what you enjoy talking about. You don't want to end up blogging about a topic that you don't even enjoy. I made that mistake when I first got started. It was a pain in the butt!

Let's use me as an example. I absolutely love talking about personal finance and money. It's just a passion of mine. I could probably go on and on about investing, the stock market, and spend 95% of my day browsing Zillow looking at rental properties for fun :) What can you talk about on and on without stopping? Your answer is what you should blog about!

The idea here is to not get burnt out by blogging about something you are not deeply passionate about. Don't pick a niche just because the internet says it's popular. If there isn't any passion in your words, your readers can tell! Trust me!

Step 2: Register your domain name

Your domain name is your web address. That is what you type into the address bar to be taken to your blog. Super easy to do :) I promise.

Once you click on "This Link to get started" you'll be taken to the BlueHost landing page. This the best hosting site out there, by far! I'm sure you see it being recommended far and wide, there is a reason for that!

Pick a plan

Once you get to the landing page click to Get Started. You'll be asked to select a hosting plan. Since you're just getting started, go ahead and pick the cheapest option! You can always upgrade at a later time :)

The basic plan will offer you loads of features, probably more than you need! The biggest things to take note though are:

• 50GB SSD Storage (you don't even need even 1/5th of that!)
• Unmetered Bandwidth (this is perfect! No matter much traffic your blog gets, you'll never be limited)
• Free SSL Certificate (other hosts charge you a fee for an SSL certificate! One less thing to worry about)

Set up your new domain

Once you pick your plan, then comes the part that you set up your new domain.

Type in what domain you would like to use, and see if it's available

Here is some really invaluable advice! Always use a .COM domain! I know, there is advice floating around out there that says it doesn't matter what you pick. Trust me, .com is where it's at!

.COM domains appear more authoritative to readers and it's easier to trust a .COM domain. It's also much easier to remember too!

Create your new account

Once you pick your awesome new domain, then you enter a bit of information about yourself. Boom, Easy as pie!

Here are some important tips to remember when picking a domain name

• Always keep it short. The shorter it is, the easier it is to remember. 3 words max
• Always use a .COM domain. Easy to remember, and easier to trust
• Don't use hyphens or underscores. It makes it harder to remember and looks a bit unprofessional to some. Avoid those

Another thing to consider is to not put yourself in a corner when picking a domain name. Pick something that allows you to blog about your topic and things related to it.

For example, if your blog name is bananarecipes.com you're kinda stuck just doing banana recipes. What if at some point you want to write about coconuts? Or crock-pot meals? In that case, supereasyrecipes.com would probably be a better fit. So make sure you pick a name that's a bit more general :)

Step 3: Purchase a hosting plan

Once you've picked your domain, the next step is to pick a hosting plan. Hosting is basically where your website lives. Your domain is the home address, and the hosting is the house. Think of it that way.

Once you enter your information from the end of Step 2, just scroll down and you'll see this info:

Want to save the most amount of money? Go with the 36-month plan for sure. If you're serious about blogging, then definitely pick this option. It shows search engines that you're going to be around for a while, and gives you the motivation to keep going! Committing to something creates better consistency :)

If you can't pay for that, then go ahead and pick a shorter commitment. No worries, it works either way. Just costs a few more bucks per month is all.

Here are the extras I recommend picking:

• Domain Privacy: This keeps your personal information away from prying eyes. This is so that people don't know your email or your address ;)
• Codeguard Basic: This creates automatic daily backups of your blog. In case of an emergency (like your site gets corrupted), you can always roll back and save yourself from starting again from scratch!
• Site Lock Security: Can you imagine if your site gets hacked, and you lose your entire blog?! Devastating! There are horror stories out there, and you don't want to be one! Highly recommended

One more thing that can get confusing is if you need the Microsoft 365 Mailbox. Skip that, you don't need it, promise!

Go ahead and plop in your payment information at the bottom of the page, and submit. The next page will ask for a password then log in. We're almost there :)

Step 4: Install WordPress

WordPress is completely free and by far the best platform to use for blogging! It was designed specifically for bloggers, so 90% of personal blogs you see out there use WordPress. It's super easy to set up, I promise.

Once you log into your newly created account, setting up your shiny new blog is just a few steps away! Just enter a few details about the blog. Don't think too hard here, you can always change all of this later, so don't sweat it.

Once you put in your details, you will get the option of picking a free theme to get started with. Again, themes are easy to change at a later time, so get one close to what you're looking for.

Free themes are awesome and all, but you'll never really get that professional look and invaluable features that paid themes come with.

Since you're just starting out, don't worry about it. At some point in the future, you're probably going to consider a more premium theme.

Once you got a theme you like (you don't need to pay for one, you can always pick a free theme) then click Start Building.

Step 5: Explore your new blog

Boom! You're in! At this point, you officially have a WordPress blog. This just step one of your fun and exciting journey of blogging. Of course, it's going to take time and effort to write high quality and engaging posts, but the first step is always the hardest! So congratulations!

If at any point you have an issue with the process of setting up your blog, you can reach out to the Bluehost support. They are rock-solid and very helpful! I can answer any questions you have as well, so shoot me an email at hello (at) digestyourfinances (dot) com.

Now that you're ready to rock and roll, click Posts on the left, select Add New, and write your very first blog post! You can have your first post be a little bit about you. You can write about what you want the blog to be about, your motivation, and anything else you want to share.

That will give you a good idea of the basics of how to start your blog and carve a path to make money with it. So have fun with the process! :) It's exciting!

Make a logo for your blog

Now that you've got your domain set up, and your hosting up and running, time to make an awesome logo for your blog!

If you're like me, and not very good with photoshop and all that stuff, then definitely check out Canva. This handy tool lets you create logos for free! You can make really good looking logos using this.

If you're a bit more savvy and can design your own logo, then go for it too! I've used Canva for so many projects, and couldn't recommend it enough!

So how do you start a blog to make money?

Blogging is not only a creative outlet but can also become a very profitable side income for yourself. There are loads of stories out there of people that have turned blogging into a full-time income. Enough to pay for your mortgage, bills, food, and even to travel!

Can you imagine working for 4-5hours a week, and earning enough travel and have free time to do what you want? Blogging can become that if done right! There are ways you can monetize your passion for writing into something profitable.

1. Displaying ads on your blog

The first and easiest way to earn an income blogging is by displaying ads on your blog. You might have noticed that this very blog has ads placed around it. That is the easiest way to start making some money on your new blog.

Services like Google Adsense are super easy to get started with. Before signing up with Google Adsense, make sure you have at least about 25 articles written to better your chances of getting approved!

Once you're more established and have thousands of visitors a day, you can sign up for Ad Agencies like Mediavine. They also display ads on your website but are much more tailored to your specific audience. Using ad agencies pay much more than Google AdSense, so make it your long term goal to use one.

2. Affiliate marketing

This is where you can potentially start to make a significant amount of money from your blog. Affiliate marketing is when you get paid commission if you convince someone to make a purchase.

For example, let's say you talk about dogs and dog bread. If one of your posts is reviewing a particular kind of dog collar, you can use an Amazon Affiliate link to that product. If your readers click that link and make a purchase, you are paid commission for that purchase! You're getting paid for giving genuine advice and recommending products and services!

You can make thousands of dollars every single month with affiliate marketing alone. This, combined with displaying ads, can result in a significant income!

3. Sell your own products

This is the bread and butter of how to start to make good money on your blog! When you sell your own products, you're free to set whatever price you want. You create something once and sell it over and over again. Genius!

Things like short courses, eBooks, and even printables, are all things that you could sell on your blog. If you want to maximize how much you earn with your blog, this should be your long term goal!

As you are just starting out, try to get lots of content on your blog first. This makes the site more trustworthy and full of content. Nobody wants to buy something from a blog they don't trust, so provide helpful and quality content first :)

Develop a strategy for your blog

Don't worry, developing a strategy isn't as complicated as it might sound. On the contrary, it might actually make your blogging life that much easier! So what does developing a strategy mean?

A strategy simply means that you have a written plan that you're going to follow for your new blog.

• Understand why you're blogging
• Figure out your target audience
• Set a schedule on how when you're going to create content

Randomly posting long articles on your blog without having some kind of strategy behind it is not a good long-term strategy. Imagine those times that you're probably going to feel super unmotivated, what then? If you don't have your goals and strategy clear as day, it's easy to veer off course and lose focus.

Another important piece that nobody taught me was to figure out my target audience. Are you writing specifically for teen readers? Or maybe it's for retirees. No matter what your Niche is, you probably have to define a target audience for your content. This way, you will know exactly how to write your articles in a way that resonates deeply with your readers.

You don't have to do this on day one, but definitely after your first few posts. This is done after you've got a good idea of how much you can actually write, what your content looks like, and what you're capable of. Just remember to do it, you will thank me :)

Here is an awesome trick to make sure that your blog posts are written correctly and accurately. I use a little app called Grammarly that does automatic spell checks and grammar checks. A definite must-have for any blogger. Definitely check it out.

Commit to a publishing schedule

I'm going to expand on this one a little bit. Do you know what happens when you have a blog but don't have some kind of schedule to write new content? Weeks and months go by without any new content. Believe me, I've done exactly that.

It's easy to put the blog aside and not publish any new content for a while. Without having some kind of publishing schedule set in stone, you don't create some kind of accountability for yourself.

Publishing on a schedule and consistency has huge benefits:

1. Sets expectations for your readers: Your readers will know when to expect new content on your blog, and creates a loyal following.
2. Creates accountability: If you set yourself some kind of deadline, you're more likely to see it through. Try it
3. Better rankings on Google: Google is going to be the biggest source of traffic for your blog. It favors blogs that publish fresh new content often, so make sure you do that and you'll rank higher!

For me personally, I write two or three articles the week. It really depends on the week in question. This schedule works for me, and create some kind of accountability for myself. Sure, I might miss a week, but I try to make it up by doubling the amount of articles I write the following week.

Figure out what you're comfortable with. It can be once a week, once every two weeks, or even once a month. The frequency really doesn't matter, but the consistency does.

Promote your blog

Now that you're up and running, it's time to get readers on to your blog. Only take the step after you have written a few good quality blog posts. You don't want readers to come over to your blog and have nothing to read. Instead, you want them to explore a bit and enjoy your content so they come back.

Your blog will not promote itself, well, not at the beginning at least. Once you start your blog, you can't make money unless visitors visit it. So this step is vital, or else your blog will be buried deep under millions of others.

You can promote your new blog in lots of different ways. Here are the most effective ways of promoting a new blog

Use social media

this one has been the tried-and-tested way of promoting a new blog. You don't want to overdo it and make every single social media account under the sun. Do you know what a jack of all trade is? Knows lots of things, but master of nothing. You don't want to be a jack-of-all-trades.

Instead, focus on two or three social media sites max. Especially when you're just starting out. The obvious ones are Facebook and Twitter accounts. If your blog is very visual, like a travel blog, then Instagram would be a good fit as well. Just make sure to use hashtags and engage with your followers.

Create an email list

Getting readers to your blog is one thing, but getting them to come back is another. This is where email marketing comes in. If anybody ever told you that emails are dead, or are not an efficient way to market yourself, then they were completely wrong!

By collecting emails from your visitors, you have a way to remind them about your blog and keep you top of mind. This allows you to build a close relationship with your readers. It also creates loyalty to your blog and entices them to share your blog with others. Think of it as a domino effect!

For this, I personally use Convertkit to collect emails from readers. Definitely check them out when getting started. They are super easy to use and offer a free tier plan for beginners.

Submit your blog to search engines

Since your blog is brand new, chances are if you tried to search for it, no results would pop up. This is because search engines don't know about your blog yet. You basically have to tell them.

For this, you need to definitely submit your block to Google and Bing. These are the two major Giants when it comes to search engines. Adding your block to these search engines is super simple:

• For Google: Sign up for a Google Webmaster account and open the search console. Once there, click "Add Property" to submit your blog's information
• For Bing: Sign up for a Bing Webmaster account. Once logged in, there will be instructions on how to submit your blog

Don't worry, this is all free. So make sure you do this.

Final thoughts

This step by step guide is there to help you start your first blog and start making money from it. Once the blog is up and running, it's all up to you to carry it to the finish line!

As you can see, it's super easy to get a blog started, but a lot of focus and determination to make it successful. Your first few posts are going to seem like you're talking to yourself. You'll have 0 visitors for a while. But with time, consistency, and effort, you'll reap the rewards!

My blog started with 0 visitors for a while. Yet, here we are, and you're reading this! Just takes time is all :)

I know if I can do it, you can too!

Good luck!

Click here to start your own WordPress Blog

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The post How To Start A Profitable Blog And Make Money – Beginners Guide 2022 appeared first on Digest Your Finances.

Keeping track of our finances and saving can become quite challenging! To top off our busy lives and schedules, somehow we're supposed to manage bills, budgets, and savings? I think not! Thank goodness for Personal Finance Apps!

I've taken the liberty of putting together a list of the top 5 best personal finance apps in 202 that will help you succeed in managing your finances and reaching your financial goals!

1. Credit Karma

I cannot recommend Credit Karma enough! I personally use this app very often when checking my credit score and have set up credit alerts to keep a close eye on my credit score.

It's very interesting to dive deep into your financial history, and by doing so, may uncover items that you weren't aware of or had even forgotten about. A bad credit score negatively affects your creditworthiness, so it's always important to keep track of your score.

The app also provides great tips and tricks on how to improve your score, and also gives suggestions and recommendations on credit products based on your score.

Available for iOS and Android

2. Acorns

This app is almost a must for the beginner investor that wants to begin investing and take control of their finances. The app is designed to invest very small amounts for you by rounding up to the nearest dollar whenever you make a purchase.

For example, if you spend $19.10, the app will take $0.90 and invest it for you! You can also customize how much it should take, and what portfolio you're interested in investing in. Super easy to use for the beginner! Highly recommended.

Available for iOS and Android

3. Prism

Prism is primarily focused on helping you keep track of bills, and letting you know when payments are due! I can say from personal experience that it's easy to forget a bill or two when juggling tons of bills to pay.

The app lets you connect to your accounts and set up when the bill is due, what the total amount is, and from what account will it make the payment. And that's it!

From there, you can schedule payments from within the app without having to log into multiple billers or lenders, making it super easy and convenient, and helps you avoid making late payments and incurring fees.

Available for iOS and Android

4. Personal Capital

I have written multiple articles and mentioned Personal Capital so many times, I think I should work for them or something! Ha!

This incredible tool is completely free and connects to almost every single bank, retirement account, mortgage lender, you name it, it's got it! It breaks down your spending, income, bills, and keeps track of your assets. Use this tool as an indicator of your current Net Worth!

You can use this tool to also set a path for retirement and can also be used for planning large purchases or expenses like weddings, trips, etc, and lets you know if you're on track. Highly highly recommended.

Available for iOS and Android

5. Mint

Mint is most definitely the most well know and most used personal finance app out there.

Mint allows you to connect to your personal accounts and use the info it gets to suggest the best budget options that cater to you. It also allows you to categorize your expenses so you can have a good overview of how your finances look every month.

The app also has a credit score feature that breaks down your credit score, what all the information means, and helps you find ways of improving your score.

Available for iOS and Android

Final Thoughts

I hope you like this curated list of the best personal finance apps and hopefully, they will make your financial goals come to life, and make life a little simpler!

An app on it's own is just part of the arsenal. One more very important piece is to budget your finances! You should download this free worksheet and get started in budgeting.

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Which one is your favorite? And do you use any of them currently? Let me know below, would love to talk more about them!

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The post Top 5 Best Personal Finance Apps in 2022 appeared first on Digest Your Finances.

One of the biggest and most important life lessons you can never teach a teenager is how to manage their money. The very first step in truly understanding how money works and is managed is by opening a bank account. In this post, we will go over the best bank account options for teenagers.

What is a good bank account for teenagers?

The first thing we need to figure out before picking a back account is defining what a good bank account is.

In this day and age, they are so many banks teenagers can choose from. However, they are not all created equal. A good bank account helps establish good financial habits and also takes account fees associated with that bank account.

When a teenager is opening their first account, you don't want them to have fees to worry about when they Aren't earning that much yet.

So, without further Ado, let's go over the best bank accounts for teenagers.

1. Capital One

Let's start off the list with a well reputable Bank. Capital One it's an excellent choice when deciding which bank accounts to go for first. This Bank offers very competitive interest rates and no monthly fee.

For teenagers wanting to open a bank account, there is no minimum balance. This means that they can take the little savings they might have and have no problems in opening an account. Capital One also offers online banking so an account can be opened from home. You don't even need to go to a local branch.

Is a joint account holder, the parents can also help manage this account. You can set up alerts via email and text messages to prevent overdrafts and and wanted and excessive spending. In other words, the teenager can have their own debit cards to make their own purchases, but also allows the parents to help manage and monitor activities.

All of these parental features can be accessed through the Capital One app.

2. Alliant

Similar to Capital One, Alliant it's also a fantastic option as a bank account for teenagers. Aligned offers very high interest earnings and a very easy to monitor checking account.

At the time of writing this article, Alliance checking account offers 0.25% APY, making it a very good contender When comparing with other checking accounts. Alliance also makes it very easy to monitor transaction activity and set up alerts.

Alliance also does not have any monthly fees for their checking accounts. The only fee you have to pay to open an account is a $10 non-profit donation. This is the only fee one has to pay. Another fantastic feature of Alliant bank is that's they offer up to $20 per month in ATM rebates. This is more than enough to cover the occasional withdrawal from non-Alliant ATMs.

3. Wells Fargo

For those parents that want to teach their teenagers more of the traditional banking experience, Wells Fargo is an excellent choice. A Wells Fargo's teenager checking account cannot be opened online, but instead has to be done in person.

Because of this, it is a more brick-and-mortar traditional approach to banking. This will give a teenager a complete experience when it comes to banking. Sometimes, it never hurts to actually see a banker in person and have that face-to-face experience.

Apart from being a more Traditional Bank, Wells Fargos checking accounts with teenagers do not have any monthly fees. You do, however, needs to pay $25 as an initial deposits to open an account.

Once an account is created, the parents needs to sign up as a co-owner of the account. Using the Wells Fargo mobile app, parents can also monitor activity. Teenagers also have the ability to send and receive money through the app. An excellent, mature, and all rounded Banking option.

4. Chase

It's closed off the list with one of my personal favorites, Chase Bank. This well-known Banking Giant has accounts that suit every kind of teenager. They have a Chase High School checking account suited for teenagers aged between 13 and 17. They also have a Chase College checking account what teenager is 17 years and older.

To open an account, teenagers are required to deposit at least $25 into their account. Unlike the other three options in this list, there is a $6 monthly service fee to consider.

The checking account we'll have a Visa debit card, a mobile app, and mobile transactions support. The app can also be used to track balances and transactions.

Final thoughts

Like any other financial decision, picking the best bank account for teenagers does not have to be super difficult. With just a quick Google, it's easy to become overwhelmed with how many banking options they are out there.

Hopefully, this list can help shorten that search and make it easier for you. By allowing your teenager to have their own bank account, it will teach them Financial Independence and Financial Freedom. With your guidance and support, they can learn good financial habits early on in life.

Have fun with it!

The post Best Bank Account For Teenagers in 2022 appeared first on Digest Your Finances.

Have you ever been watching YouTube and thought to yourself "Man, I have a camera and things to say, how do I make money on YouTube, and is it even still possible?" Well, I'm here to tell you that making money on YouTube, even as a beginner, is not only possible, but I'll show you how!

According to Forbes, the highest-paid YouTubers are earning in excess of over $162 million combined! Yes, hundreds of millions of dollars. They are living proof that with dedication and focus, there is a lot of money to be made on the platform.

Admittedly, as amazing as it all sounds, it's not as easy as just hitting record and earning six figures overnight. It takes time, but if you follow these simple steps, it's still a relatively simple concept that anybody can follow.

You should also check out Ways to earn Passive Income.

How much can you actually earn?

Everybody has heard of YouTube giants like PewDiePie and Logan Paul earning millions of dollars from their YouTube Channels. While these examples are the minority and exceptions, the vast majority of YouTubers earn a more modest income. So how much money can you earn on Youtube?

As a rough estimate, you can make about $1.00 - $1.50 per 1,000 views your YouTube video makes. So using that math, a million views may earn you between $1,000 and $1,500.

More popular channels may earn more per 1,000 views, so the more popular you get, the more advertisers will want to put their ads on your channel! Not a bad way to earn some good income! This is why so many popular YouTubers can do this for a living full time.

Now, these estimates are just looking at YouTube ads, but many YouTube channels also sell merch and have sponsors on their videos. This can substantially increase how much each popular video and popular channel can earn!

Now let's look at the steps you need to take to propel yourself to YouTube stardom!

1. Pick a niche

The first and most important thing to figure out is your niche (or your passion). Dedicate your channel to a special interest or particular topic that you love to talk about. This can be things like the latest tech, religious conversations, pet clothes, hair products, makeup, fashion, the list goes on. The most important part of this is to find out what you love and have fun with it! It's so obvious when you pick a topic that you don't enjoy, you'll easily get tired and bored with it, and you'll lose consistency and your quality drops!

2. Get your gear

Here is a step that doesn't require a lot of thinking, but a lot of people stop because of misconceptions. We live in a world where an iPhone can record 4K videos with outstanding audio quality! You don't need an expensive $1,000 camera or lighting equipment to get started!

As an experiment, you should check out your favorite YouTubers and go to their earliest videos. The quality is probably pretty awful, so already you have a head start! If you must, you can also get started using an affordable camera you could probably get on Amazon. It's not the gear but the content that makes your videos! So start recording.

It's not the gear but the content that make your videos!

Tweet

3. Upload consistently

Once you get started, another stumbling point for many is to remain consistent with your video uploads! You must aim to create fresh content on a regular basis.

The frequency should probably be uploading a new video every couple of days to every week. And keep it rolling! YouTube is a platform run by math and algorithms, so the YouTube computer favors frequent and fresh content over a video every couple of months. So make sure frequent uploading is high on your priority list, but remember to stay natural! Relax, record, and be yourself.

4. Create a following

Once you have a good flow of videos coming in, you'll start noticing a trickle of subscribers and views coming in, but just posting and leaving it alone won't cut it. Instead, you want to promote your channel outside of YouTube. Your first viewers are likely going to be family and friends, but that's okay! They will be your first cheerleaders, and encourage them to share with their friends!

You should always remind your YouTube viewers to like and subscribe to your channel. This isn't just to increase the count, but those same people will see your videos whenever you upload a new video, and the YouTube algorithms like that too! This won't happen overnight, but keep it up!

5. Engage with your audience

YouTube also likes to see that when you gain traction, you engage and interact with your viewers! At the early stages of your channel, you're likely going to get a few comments or questions on your videos. Try your hardest to respond to them and create a conversation. When more viewers come and watch your videos, they will be encouraged to participate in the conversation, and in turn, YouTube rewards videos with engagement!

6. Collaborate with other YouTubers

This is the secret sauce to increase your subscriber and viewer count on YouTube. Sadly, many YouTubers don't use this tactic when starting out, but it can be incredibly beneficial to you and to other YouTubers!

Think about it, you probably aren't the only one talking about your niche and probably aren't the only up and coming YouTuber either. Search YouTube for others making videos talking about a similar topic and similar subscriber count, then reach out to them for a collaboration!

They will be excited to do it, and you'll get to be in front of their audience as well! Trust me, this works.

7. Monetize your videos

The next step is to Monetize your videos. At the time of writing this article, YouTube requirements state that

• Have at least 1,000 subscribers
• Have at least 4,000 hours of watch time within the past 12 months
• Adhere to YouTube requirements and guidelines (basically don't show illegal stuff, gambling, or bad language)

If you have followed the items above and remain consistent, reaching this benchmark might take a few months to reach, then you can actually start making some money on YouTube. Granted, you're likely going to be making maybe $1 a video, but this is going to be just the beginning! Keep going!

8. Keep going!

Lastly, I can't stress this enough, you have to keep going! Making money on YouTube isn't a get rich quick scheme but will take years of dedication and focus. As time goes by, you'll gain confidence, you'll understand the platform better, and you'll understand what viewers want to see and hear.

This all can't be done overnight. Many channels start, have a good topic to talk about, make 10 videos, lose patience with making money on YouTube, and lose interest. But you're not going to do that! You're going to persevere and keep going. Once you have hundreds of thousands of subscribers, millions of views, and making six figures, send some my way :)

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The post How To Make Money On YouTube Even As A Beginner in 2022 appeared first on Digest Your Finances.

The internet has brought people closer than ever! This is especially true when it comes to trading and bartering. Back in the good old days oh, you would have to leave your house and meet with someone to trade or barter. No longer do you have to leave the comfort of your home! They are now websites out there that allow you to do trades and barter!

When you trade or barter, you are basically exchanging something you have for something you want. Usually, these things are equal or similar value. For example, you might trade your iPhone for a comparable Samsung. Or maybe you might trade in your hammer drill for a miter saw. Really depends on you. So the question is, what are these websites that I can visit for trades? You have come to the right place!

In this article, we will go over the top 10 websites for trades and bartering.

1. GoSwap

https://goswap.org/

To start off this list, GoSwap is an online community where you can swap and trade assets such as homes! This one is a bit unique in that you can actually swap houses, property, or something like that. For example, you might swap your house in the city for something near the beach! Of course, it will depend on how comfortable the values are, but it is doable. Listing your home on your property on the site costs between $9 and $270. Definitely something unique and worth checking out.

2. SwapThing

https://itsaswapthing.herokuapp.com/

Swamp Thing is another one of these awesome websites where you can go do trades and swap basically anything! According to the website, you might have just bought something you didn't really like or wanted to trade up for something better. This website helps you connect to other people that are looking to swap or trade basically anything. It's free to sign up and start looking around.