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Hanover Mortgages

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Posted on March 3, 2021

How to Plan a Destination Wedding on a Budget

The right location and a finely-tuned budget are key to making a destination wedding work.

Does your dream wedding involve a beachfront ceremony at sunset even though you live in the city, or exchanging vows surrounded by the lush beauty of a tropical rainforest miles and miles away from home? If so, a destination wedding somewhere outside of your hometown might be right up your alley.

Sound pricey? It certainly can be. According to The Knot, a wedding website, the average price tag of a domestic destination wedding, including the couple’s travel costs, is $28,372. While international destination weddings tend to cost more per guest, they do often include a smaller guest list, with the average wedding spend at $27,227.

Before breaking into a cold sweat at the thought of destination wedding bliss, know that The Knot has reported the total spend for local weddings as high as $32,641 in recent years.

While it’s possible to save money on a wedding hosted locally, it’s also feasible to plan a destination wedding on a budget. These cost-saving tips for destination weddings can get you started:

If you've always dreamed of a beach wedding but you're concerned about budget, these cost-saving tips for destination weddings can help.

1. Know what you’re willing to spend

One of the key budget-saving tips for planning a destination wedding is knowing where to draw the line on cost. Without a firm dollar amount in mind, it can be easy to overspend.

Tiffany Zorotrian, an agent with Chantel Ray Real Estate in Virginia Beach, Virginia, found herself planning a destination wedding on short notice. She and her fiancé originally planned on an outdoor wedding in April but had to move up the date because of a military deployment. Virginia’s winter weather wasn’t accommodating to an outdoor event, so they opted for a destination wedding in Key West, Florida, instead. Their budget was $10,000.

When trying to plan a destination wedding on a budget, they had to decide which costs they were willing to assume.

“One thing you need to consider is whether or not you’re going to support travel costs for close family members who want to be there, but may not have the financial means to make the trip themselves,” Zorotrian says. “We did that, but to accommodate those costs, we needed to save money in other areas.” They negotiated deals for their hotel stay for themselves and five family members and brought in their own food and beverages for the wedding festivities.

The average spend on a domestic destination wedding, including the couple’s travel costs, is $28,372.

– The Knot

Jo Ann Woodward, co-owner of Schwartz & Woodward, a Houston-based wedding planning firm, says couples must consider the extra costs associated with a destination wedding that you may not encounter with a wedding in your hometown. That includes the couple’s airfare and accommodations for all guests, local transportation since most guests won’t have their own cars and excursions (some couples will host their guests on special outings like fishing trips, scuba diving, hiking or guided walking tours). Woodward says if guests are covering their own travel costs, couples should consider if they’re willing pay for other activities.

2. Keep it small

If you’re trying to plan a destination wedding on a budget, a shorter guest list may be the answer.

“Couples need to decide who they really want to attend,” Woodward says. She suggests inviting only those people without whom you couldn’t imagine sharing one of the most important moments of your life.

Zorotrian took a different approach. Instead of skimping on the guest list, she invited all of their friends and family so there’d be no hurt feelings. But, she planned her wedding budget on the assumption that only the people who were really committed to being there would come.

When you’re trying to follow cost-saving tips for destination weddings, including everyone on the guest list is a gamble. Should everyone you’ve invited decide to attend, that can inflate your spending. If you’re concerned that the wedding may end up being oversized, it’s better to err on the side of caution and plan for a smaller wedding from the beginning.

“If you invite someone, anticipate and budget that they will attend so there are no financial surprises,” says Candice Coppola, owner and creative director of Jubilee Events, a Cheshire, Connecticut-based wedding planning firm.

The bet did, however, work out for Zorotrian and her husband. They were able to come in just under their $10,000 budget. In the end, their wedding was a tiny, intimate affair, unlike the larger outdoor event they’d originally anticipated in their hometown. But, they were happy with the final result and the money they were able to save.

3. Choose your destination carefully

Where—and when—you plan to have the big day can impact costs in a big way. Coppola says timing matters if you want to plan a destination wedding on a budget.

“Every year, prices increase,” she says, which is why one of her cost-saving tips for destination weddings is to book one to two years in advance to get the current year’s rates.

Scheduling outside the location’s peak season and going low-key on accommodations are other budget-saving tips for planning a destination wedding.

Coppola says that during a destination’s tourist or high season, hotel rates can increase by 25 to 50 percent. She says you can create more room in your budget and save money by scheduling a wedding for the destination’s shoulder or off-peak season instead. Shoulder season is the period between peak and off-peak season.

In general, this time of year offers fewer crowds, but weather could be problematic. In the Caribbean, for example, the off-peak season is typically mid-April to mid-December, which coincides with the North American hurricane season. Sites like Expedia and Lonely Planet can be resources for finding information and recommendations on which off-peak season destinations offer the most favorable weather conditions for a wedding.

Budget-saving tips for planning a destination wedding include researching multiple destinations to determine what you can get for your moneyIf you’ve got a smaller guest list, some cost-saving tips for destination weddings include renting a large vacation home instead of booking hotel rooms for each of your guests. Woodward suggests reading the fine print before choosing a vacation rental, as some vacation homes may come with extra fees for each guest over a certain limit.

Something else to consider when seeking out budget-saving tips for planning a destination wedding: how far your money will stretch if you’re outside the U.S.

“In some regions, like the Caribbean, U.S. dollars are preferred and can get you farther than local currency,” Coppola says. Depending on where you travel, items may simply be less expensive than in America, so you’ll have more purchasing power. In Costa Rica, for example, consumer prices were about 23 percent lower than in the U.S. as of March 2018, according to Numbeo, a website that compares cost of living data.

It’s also worth considering the exchange rate if you’re not using U.S. currency and looking for budget-saving tips for planning a destination wedding. A preferable rate allows you to spend less for the same things abroad than you would at home. Remember also to factor currency exchange fees into your budget.

“Each destination has its own feel and flavor. You have to decide what’s most important for you and your guests to experience, since creating memories for a lifetime is the goal.”

– Jo Ann Woodward, co-owner of Schwartz & Woodward, a Houston-based wedding planning firm

4. Choose the best way to pay

As you research cost-saving tips for destination weddings, don’t overlook your payment method. One potential way to save is by opening a rewards credit card in advance of the wedding that allows you to earn points or miles on purchases. When it’s time to book travel, you could use those miles to cover some or all of the cost of your flights or hotel stays. Some travel cards may offer additional money-saving perks, such as complimentary companion tickets or checked luggage, which can reduce costs. Alternately, cashback rewards could be applied as a statement credit against wedding purchases you’ve already made.

Why should credit cards have all the fun?

Now you can earn cash back with your debit card.

If you want to avoid racking up debt when spending on your destination wedding, consider the benefits of a rewards checking account, which can help you earn cash back on everyday expenses, including those for your wedding. With Discover Cashback Debit you can earn 1% cash back on up to $3,000 in debit card purchases each month.1

Preparing in advance and saving up for the big day can also make it easier to plan a destination wedding on a budget. Consider depositing funds for your wedding into an online savings account with a competitive interest rate. This way, you can be earning money on your savings until you’re ready to pay for wedding expenses.

You can plan a destination wedding on a budget—and a rewards checking account can help you earn cash back.

Check your mindset to plan a destination wedding on a budget

These cost-saving tips for destination weddings address the financial side of planning a getaway, but you also need to consider the emotional side.

“Each destination has its own feel and flavor,” Woodward says. “You have to decide what’s most important for you and your guests to experience, since creating memories for a lifetime is the goal.”

As you plan your dream destination wedding, set your expectations early and remember to be flexible. Working on a budget may mean having to cut back on certain expenses, such as flowers or wedding favors, but it’s essential to stay focused on the bigger picture, which is making your special day as enjoyable as possible.

1 ATM transactions, the purchase of money orders or other cash equivalents, cash over portions of point-of-sale transactions, Peer-to-Peer (P2P) payments (such as Apple Pay Cash), and loan payments or account funding made with your debit card are not eligible for cash back rewards. In addition, purchases made using third-party payment accounts (services such as Venmo® and PayPal™, who also provide P2P payments) may not be eligible for cash back rewards. Apple, the Apple logo and Apple Pay are trademarks of Apple Inc., registered in the U.S. and other countries.

Source: discover.com

Posted on March 3, 2021

42 Resources + Printables for Homeschool Families to Teach Kids About Money

Are you considering homeschooling for your family? Teaching your kids in your own style can provide academic flexibility, meaningful learning opportunities, and a bonding experience that a traditional classroom can’t provide. Before taking on this new responsibility, be ready to crunch the numbers to see if homeschooling fits into your family’s budget.

A recent study shows you could spend anywhere from $200 to $3,000 each year on homeschooling costs. Yet, there are a couple of ways to teach your kids money management without compromising your budget.

As money conversations aren’t normally had in public schools, you’re able to get a head start on teaching your kids the essential money skills they need to know. No matter how old your kids may be, there’s always something to be learned about money. If you want your kids to better understand investing, saving, budgeting, and planning for their financial future, we’ve created 42 printables and resources to teach your kids about finances at any age:

Pre-K–Grade 1

2–3 Grade

4–5 Grade

6–7 Grade

8–9 Grade

9–12 Grade

Pre-K–Grade 1: Expose Them to Money and How It’s Earned

As your child begins their educational journey, it’s helpful to start by exposing them to money. Familiarize your kids with money by showing them what money looks like and explain how it’s earned. As most kids learn from their parents, consistently explain how your money is earned and how you budget it. Clearly lay out how you make money and the correlation it has with all the hard work you put into it.

As a kid, you have to start building your savings from the bottom up. Encourage your kids to work hard and budget correctly to create the building blocks of financial freedom. Create a family chore list for them to earn an allowance to put towards their savings. Go the extra mile by opening their own savings account for them to contribute their earnings when saving up for something they want.

To incorporate money talk into your teaching lessons, download our money trace printable. Cut out each U.S. coin along the dotted line. Then have your kids grab a pencil and write out each word on the dotted line. Finally, have them match each coin with each drawn out word. This helps kids start to learn what money is and how it can be used.

Money Trace Printable Mockup

Money Trace Download Button

Additional resources:

Grade 2–3: Make Money Management a Fun Game

Teach your kids to appreciate the value of a dollar by making money management a game. From creating your own lemonade stand to selling your Girl Scout cookies, practice how hard work can pay off over time.

While your children sell their baked goodies, consistently ask them number questions like “how many ___ are in a dollar?” to keep your kids’ minds fixated on the numbers game. When playing store, practice counting up and down when exchanging “money.” Even when you’re out running errands, consider having your kids practice paying that cashier for a more “real life” experience.

As the summer approaches, people around your neighborhood may get a little thirsty for some yummy lemonade. If your family is ready to start your own “business,” print out our lemonade stand menu. Write out each type of lemonade or juice your family will be selling, along with the prices for each. Place this in a frame or simply lay it on your table for customers to know how much to give you at checkout. This gives kids a real life opportunity to learn how to exchange money and work hard to earn a profit.

Lemonade Stand Printable Mockup

Lemonade Stand Download Button

Additional resources:

Grade 4–5: Help Your Kids Build Their Dream Career

Once your kids start approaching middle school, they may have an idea of what they want to be when they grow up. Help them find their passion by incorporating goal setting, career building, and decision making lessons into each school week.

Studies show that only 3 percent of adults write out their goals — despite the fact that people are more likely to reach their goals when they consistently write and revisit them. Encourage your kids to get in the habit of setting goals to reach their full potential. Download our printable below and help your child figure out what they want to work towards, whether that be playing in a basketball tournament in another city or saving enough money to buy a new pair of booties.

Once they’ve set their goals, teach them how to reach each goal. Have them write out their overall goal, the reason for wanting to achieve it, and break their large goal down into micro-goals. Highlight how money can be one of the tools you can use to reach those metrics. For instance, when going to a basketball tournament, you may need money for food, a nice place to sleep, and safe transportation to ensure you play your best. Money is the tool to staying healthy and potentially setting up your kid’s college career when applying for scholarships.

To make this goal even more enticing, set a timeframe your family would like to reach these goals within. Print and sign our downloadable award to hand them once this goal is achieved.

Goal Setting Printable Mockup

Goal Tracker Download Button

Additional resources:

Grade 6–7: Put Your Kids In Charge of Grocery Shopping

As your kids get older, teach them the art of setting a budget while you run errands together. Every time you go to the grocery store, put your kids in charge of the shopping list, budget, and paying at checkout.

During this time, show the importance of creating and sticking to a budget. As 39 percent of adults overspent on groceries in 2019, the grocery store can be a big money drain. Encourage your kids to set a limit to how much you should be spending on groceries. After shopping, show how overspending could hurt your credit and savings in our monthly budgeting app.

If you’re considering giving your kids a debit card for emergencies, this might be the ultimate test. Download our grocery shopping printable for your kids to fill out. Have them list out materials your family needs for the week and how much your budget should be set at before heading in. After checking out, check in on your budgeting app to see if you were under your budget goal.

Grocery Store Shopping Printable Mockup

Grocery Shopping Download Button

Additional resources:

Grade 8–9: Help Them Establish a Millionaire Mindset

As your kids start to reach high school, start fostering team-building skills and provide tools to set them up for success in the workplace. Get their creative juices flowing and have open conversations of what they would like to do in the future. Whether that is to become a CEO or an artist, help them get there!

If college is on your kid’s mind, direct your lessons towards putting money away for educational investments and how to properly deduct these expenses from your taxes. Use your past lessons, to encourage them to apply for scholarships and work on projects they are proud to show on their application.

Take things up a notch by downloading our business pitch printable. Invite your child’s friends over for a friendly business competition, or have your kid present their big idea to your family solo. Print out our downloadable and give your kids a set time to brainstorm each big pitch. Once the time’s up, have each participant stand up and present their dream plan. Print, sign, and hand out our printable award to the best business plan.

Award Printable Mockup

Business Builder Download Button

Additional resources:

Grade 10–12: Teach Investment and Credit Tools for Success

Once your kids turn 18, they’re able to apply for credit cards, student loans, and other investments that could potentially have high interest or earning rates. Prepare your kids by teaching the good, the bad, and the ugly about the different investments that can be made. Discuss everything from credit cards, interest rates, educational investments, savings, and stocks.

For instance, having a savings account you contribute to each month can earn you some extra money from interest rates. On the other hand, spending more than you can afford on a credit card could cost you much more than the price tag on the boots you really want.

While teaching your kids about the accrued loss or benefit from different investments, have them participate! Download our savings challenge printable for a savings boost just upon high school graduation. Have your kids work hard for allowance, or get a part-time job, and contribute a base amount to their savings each week. Track each week’s progress on this sheet to see how much they’re able to save by the end of the 14 weeks.

Savings Game Printable Mockup

Money Saving Tracker Download Button

Additional resources:

Additional resources for all ages:

Believe it or not, your kids are closely watching how you spend your money. Teaching them the value in working hard and how to budget today will set them up for future success. Money management is one of the key ways to ensure your kids are able to reach their financial and career goals as they grow older. As traditional schools don’t always teach money management courses, this is just an added benefit to homeschooling your kids.

Encourage your kids to see money as a tool rather than the overall goal. Start them a savings account early on and check out our post on How to Teach Your Kids About Money for additional tips for familiarizing your kids with money.

Resources: Study | Huff Post | Sleep Should Be Easy | The Educators Room | Practical Money Skills | Homeschool Giveaways |

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Source: mint.intuit.com

Posted on March 3, 2021

5 Money-Saving Tips for Your Wedding

Preparing for the big day? Here are some areas where you can cut costs.

The moment you get engaged, everyone wants to know: When is the wedding? Engagements can be simple when compared to weddings—unless you are eloping or having a courthouse ceremony. If you are wedding planning on a budget and your plans don’t include hiring a wedding planner, here are some money-saving tips for your wedding:

The dress

2018 national average: $1,6311

Not wearing your grandmother’s gown? Buying used or renting can be a cost-effective way to save money on your wedding. Because wedding dresses tend to be worn once and then preserved, they are usually in “like new” condition when sold secondhand. Many websites offer pre-owned wedding dresses from major designers for when you are wedding planning on a budget.

Save money on your wedding by shopping for dresses secondhand

“We find it very rare that a bride finds sentimental value in her veil or headpiece unless it is an heirloom,” says Brittany Haas, CEO of Happily Ever Borrowed, an accessory rental store. “Accessories are generally an expensive afterthought,” she adds. “For example, the veil is something that you generally only wear for 15 minutes for your wedding day. Brides have so many more romantic things to spend on than an object only worn for 15 minutes.”

Local consignment stores also frequently carry wedding dresses, and sometimes a formal evening gown can double for your big day, which can help you save money on your wedding.

One Last Frog, suggests brides, “Shop at wholesale stores for a high quantity of decor and flowers. Typically, wholesale stores are more open to negotiation and will give you a better price for the quantity of items or flowers a bride will order.”

And once you have your flowers, if you have bridesmaids willing to help out, you can easily put together bouquets to help cut back on wedding costs.

The reception venue

2018 national average: $15,4391

Most wedding guides will tell you reception venues charge less if you get married “off-season” in January, February or March, or during the week instead of on the weekend. The main way to really save on your venue and cut back on wedding costs is to keep your guest list low (100 or less). A smaller guest list can help you save money on your wedding by lowering the cost for food, tables, chairs and drinks.

When comparing the prices of different venues, consider that going with an all-inclusive venue can be a good money-saving tip for your wedding, says Joyce Scardina Becker, designer-in-chief of Events of Distinction. “The reception site and the vendors may have prearranged financial agreements, making it easy and more cost-effective,” Becker says.

The caterer

2018 national average: $70 per person1

Sit-down or buffet? “Many couples think that buffets are less expensive than a sit-down plated meal, but this is often not the case,” Becker says. “Many times buffets are more expensive because you have to offer more choices and you cannot control the quantity of food a guest takes. So you should check with your caterer before deciding on a buffet versus a sit-down dinner.”

If you’re wedding planning on a budget, food trucks can be an alternative to cut back on wedding costs, while providing a memorable guest experience.

When it comes to alcohol, Becker suggests:

  • Having a short cocktail hour—make it 45 minutes
  • Avoiding salty hors d’oeuvres (they make guests thirstier)
  • Uncorking bottles only as needed (a wedding planner or event organizer can control this)

Additionally, if your venue allows you to bring your own alcohol, wholesalers tend to offer lower prices and typically allow you to return any unopened bottles for credit. Bringing your own alcohol could help you save quite a bit of money on your wedding.

The photographer

2018 national average: $2,6791

One of the easiest ways to cut back on wedding costs is to limit how long your photographer stays. If you’re getting married in the off-season, you’ll likely find better deals than those getting hitched in the summer and fall.

An often overlooked money-saving tip for your wedding: Contact local college students studying photography who are interested in expanding their portfolio. Some experienced photographers may also have assistants who charge less, while still providing good service.

Happily (and financially) ever after

While looking for ways to save money on your wedding may not sound romantic, it may be the best gift couples can give themselves in the long run. Utilizing these money-saving tips to cut back on wedding costs can mean more savings to put toward other financial goals as a couple—goals like buying a home, starting a family, saving for a child’s education or building an emergency fund.

​Source:

1. https://www.theknot.com/content/average-wedding-cost

Source: discover.com

Posted on March 3, 2021

SURVEY: Is Shopping Alone Better for Your Budget?

You might think shopping alone saves you money, but it may be costing you more. Our survey reveals that when there’s no one there to peer pressure you, you may be your budget’s worst enemy on or offline. In fact, we found that 29 percent of shoppers admit spending more when shopping alone. 

We surveyed 1,500 Americans to see who spends more when shopping with others, and who is most likely to influence a shopper’s spending habits. 

We found that: 

  • 29 percent are more likely to spend more when shopping alone
  • One-third of women admitted spending more shopping alone, compared to 24 percent of men
  • 25 percent of shoppers have felt pressured by others to overspend

Women Are More Likely than Men to Overspend By Themselves 

Americans overspend by roughly $7,400 a year, even though 74 percent say they have a budget in place. Of those who budget, 79 percent of people still overspend. Are these overspending habits sparked by those around you, or a result of your own purchasing desires?

women spend more shopping alone

Our survey revealed that 33 percent of women spend more when shopping alone, versus 24 percent of men. In the age of COVID-19, most shopping has gone virtual. On average, 53 percent of those that regularly shop online do so using their smartphones. With one-click buys and online shopping heightening while spending more time at home, this could have a heavy impact on your budget. 

Shoppers Feel Most Pressured by Kids and Partners

We also found that 25 percent of shoppers have felt pressured by others to spend money on things they don’t need. Of those, kids and partners were the key influencers. Our results show 14 percent of Americans feel heavily influenced by their children. Among those, 59 percent are women. 

family influences spending survey

With back-to-school season rolling around, now is a great time to set your shopping budget and your children’s expectations to avoid overspending. Back-to-school shopping costs, on average, $519 per student with clothing and accessories accounting for half. 

Twelve percent of Americans feel influenced by their significant other to overspend. It’s likely that fancy dinners and weekend getaways can quickly add up. One way to cut down on your spending as a couple is to opt for cooking dinner at home, which could save you up to $2,784 a year on restaurant tabs.

Takeout Food is the Top Temptation

Whether you frequently shop alone or prefer to have some company, here are some areas we tend to overspend. Takeout food alone costs the average person over $3,000 a year. To put that into perspective, that’s $260 a month, and $65 a week.

overspending categories chart

Not to mention, your weekly movie nights or hang outs with friends could also be costing you big. Entertainment costs, on average, fall at $242 a month — roughly $61 a week. Cutting your entertainment and takeout food budget by 50 percent alone could add $151 to your monthly savings.

5 Tips to Avoid Budget-Breaking Temptations

Curbing overspending can be tricky — especially when you’re feeling pressured by loved ones to spend more. If your budget tends to go over every month, you may need to make some changes. Implement our five tricks to dodge shopping temptations. 

1. Practice a Minimalist Lifestyle 

Fast fashion and take out dinners and coffee can be hard to avoid. Yet studies show if individuals cut down on their lifestyle budget, cotton waste could be reduced by 50 percent. Instead of molding societal social norms, establish a minimalist lifestyle and budget. This eco-friendly tactic can help you save some trees and some green. 

2. Switch to Cash

Cash may make budgeting easier because you can’t overspend once you run out. Challenge yourself to hide your cards and pay only in cash for 30 days. You may gain a better perspective on how much money you’re wasting vs. saving. 

3. Opt for Inexpensive Entertainment

Swap your weekly restaurant dates for a walk in the park. Make dinner special by whipping up your favorite dish at home and pair it with an ice cold drink. After cleaning your plate, head outside and take a long walk to get a breath of fresh air with your partner. 

4. Create Money-Saving Shortcuts 

Trick yourself to save more by creating shortcuts and establishing measurable goals. Set up automatic payments to your savings before you see your paycheck. You’ll treat it like an actual bill and grow your savings in case of emergencies. 

5. Reward Yourself

Setting goals can be motivating at first, but over time you may lose steam. To get through your mid-goal slump, set up budget-friendly rewards. If you spared your budget from buying coffee every day, reward yourself with your favorite espresso at the end of the month. 

Though it’s normal to slip up here and there, sticking to a budget is crucial when building your financial portfolio. As people admit to spending, on average, $200 a month on purchases they regret, really evaluate your money goals before swiping your card. You may find that money could be better spent on future investments. To check in on your budget while on the go, use Mint’s app to stay on top of your money. 

Sources: SlickDeals | U.S. Bureau of Labor Statistics

Methodology: This study was conducted for Mint using Google Surveys. The sample consisted of no fewer than 1,500 completed responses per question. Post-stratification weighting has been applied to ensure an accurate and reliable representation of the total population. Responses were collected from June 16th to June 18th, 2020.

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Posted on March 2, 2021

How to Afford Youth Sports on a Budget

Keeping your kids active in sports doesn’t have to derail your household budget.

Your child says she wants to learn to play soccer. You see it as a great opportunity for her to be physically active and build confidence. (And okay, maybe a small part of you is harboring dreams that she’ll become the sport’s next superstar.) You decide to sign her up for a local soccer league but there’s just one hitch: the cost.

According to the 2017 State of Play report published by the Aspen Institute, a nonprofit think tank, nearly 72 percent of children aged 6 to 12 played at least one team or individual sport in 2016. A survey conducted by the brokerage firm TD Ameritrade found that in 2016, the typical sports parent spent between $100 and $499 per month, per child, on elite youth athletics. Dishing out more than $1,000 per month, per child, is not unheard of, according to the study.

With costs that high, you may be wondering how to afford youth sports on a budget, or if it’s even possible. It is, if you are prepared. Having a game plan for spending can keep kids’ sports from draining your budget.

Consider these five tips if you’re wondering how to afford youth sports without going broke:

1. Take new sports for a test run

Playing a sport involves a commitment of both time and money, which can end up being wasted if it turns out to be the wrong fit for your child. Amy Boyington, a mother of two and founder of The Work at Home Mom, a blog focused on helping moms balance career and family, imposes a simple rule when her children express interest in something new.

“I let each of my children try whatever sport they want, but with one condition: They’ll try a budget-friendly version first,” Boyington says.

How to afford youth sports without going broke? Test out a sport before committing to a full season

For example, her son recently wanted to give basketball a go. After researching local options, including the YMCA league, Boyington signed him up for a low-cost program sponsored and run by a local family. For a $25 fee, her son received a t-shirt, basketball, jump rope for training and eight weeks of instruction in basketball basics.

Compared to the $50 YMCA fee Boyington would be charged as a non-member, she felt the family-run league offered more for the cost and was better suited to testing out the court. And it’s well below the $1,143 per year a 2017 TIME magazine story reported parents spend on average to keep their kids active in basketball. The article bases that figure on survey data collected by researchers at Utah State University, including a 2016 study, which found that families spend an average of $2,292 per year on their children’s sports participation.

If you have beginning athletes, finding cost-effective leagues and practices is a great solution for how to afford kids sports without going broke, while still giving them the freedom to explore new things.

2. Do one thing at a time

Ground rules about how many sports children can play are necessary to keep kids’ sports from draining your budget. That’s especially true if their interests or abilities tend to veer toward pricier activities. The TIME report’s analysis of the Utah State data points to lacrosse, hockey and baseball as being among the most expensive youth sports. Mark Aselstine, an El Cerrito, California-based father of two, limits his children to one sport per season, which has been crucial for saving money.

Wondering how to afford youth sports on a budget? Focus on one sport at a time to keep costs down.

In the Bay Area, where his family lives, baseball registration fees for their local Little League can range from $125 to $225, based on the child’s age. That doesn’t include a $100 required deposit, or an additional $25 fee for late registration. You can see how the costs for just one sport can add up, especially considering that uniforms, practice equipment and travel expenses are extras that Aselstine has to account for. Since he’s focused on how to afford youth sports on a budget, he says he’d only consider making an exception for a second sport if it’s something his kids can do without paying a fee, such as tennis lessons included in their after-school program.

Boyington has adopted a similar policy for how to afford youth sports on a budget. As a result, she reaps more than just a money-saving benefit. Limiting her children to one sport at a time eliminates the stress of trying to make it to every practice and game. More importantly, “it gives my kids a chance to really involve themselves in that sport, giving it their full dedication for the season,” she says.

If you’re trying to keep kids’ sports from draining your budget and your child excels at more than one activity, you’ll have to decide how to accommodate that in your budget. If they’re enjoying sports played during different seasons, you can still keep the focus (and budget) on just one at a time. When sports run concurrently, you may choose to prioritize the one they’re most interested in or that’s least expensive. If they’re going to be involved in more than one sport at a time, choosing the lowest-cost leagues or programs could be a good option.

3. Know the numbers upfront

If how to afford youth sports on a budget is top-of-mind, get a complete breakdown of the costs before signing up so you can plan your budget in advance. That includes what you’ll pay for registration fees, uniforms and equipment, as well as extras like team photos. Boyington suggests looking for cost-cutting opportunities once you get a complete list of expenses.

“I’m not afraid to ask about things I can go the cheap route on,” she says, “like parts of the uniform that I might be able to purchase a budget brand for instead of the name brand.”

Taking advantage of early registration discounts is another way to keep kids’ sports from draining your budget. It may seem like small savings, but it’s money that can be set aside to use for other sports-related costs.

4. Choose used if possible

How to afford youth sports without going broke could come down to the items that are needed to participate. In the TD Ameritrade survey, 44 percent of parents said equipment was the major expense associated with their child’s sports. Twenty-six percent cited the cost of uniforms.

Consider baseball, which ranks as one of the most popular youth sports, according to the Aspen Institute. A complete youth catcher’s kit—including helmet, chest protector and shin guards—can run as much as $350, according to the retailer BaseballMonkey.com. Bats can easily land in a similar price range, and cleats can add another $10 to $60 to the total. It may seem difficult to keep kids’ sports from draining your budget when you still have to consider the cost of the standard game uniform, gloves, hats, practice gear and a bag to hold everything.

When the question is how to afford youth sports without going broke, the answer may be buying used as often as possible. But, Boyington cautions, some leagues won’t allow you to substitute used uniforms or equipment for new ones. In that scenario, she recommends seeking out leagues such as those run by the parks and rec department, a local church or families—like the one her son participated in—that have more flexible rules about used equipment.

“These leagues understand people like me who want to get their kids involved in activities in the community,” she says, “but can’t afford to spend thousands of dollars every year to do so.”

These types of programs can also yield additional savings if you’re able to get a fee waiver or a discount on equipment and uniforms by volunteering as a coach or team parent. Other alternatives to buying new if you’re trying to figure out how to afford youth sports on a budget include renting equipment or participating in fundraisers to help pay for uniform costs.

Aselstine offers another tip: Look for leagues that offer equipment swaps.

“Our soccer league has an awesome barter system the first day of sign-ups,” he says. “Bring a set of cleats, take a set of cleats. The same goes for uniforms.”

Aselstine estimates that the swap saves his family $100 per season on equipment and uniforms.

5. Consider the long-term benefits of elite sports

Investing big bucks in an elite or travel team requires some serious thought, especially if how to afford youth sports without going broke is a concern. Boyington says she would only allow her children to play if they’ve been involved steadily in the sport for several years, and they’re old enough to contribute in some way to the cost with a part-time job.

Before allocating a large part of your sports budget to an elite sport, consider what the benefit is to your child and whether the costs are justified. In the TD Ameritrade survey, for instance, 54 percent of parents said they were hopeful that elite play could lead to an athletic scholarship, and 42 percent hoped their child would eventually go on to play at the Olympic or professional level. The percentage of parents of former players whose children actually got a scholarship, turned pro or became an Olympian was much lower, however.

Weighing the probability of future play, alongside the cost and your child’s long-term interests, can help you decide what’s reasonable to invest to keep kids’ sports from draining your budget.

Source: discover.com

Posted on March 2, 2021

How to Use a 529 Account to Save for Your Child’s College

Parenting is a bit of a strange conjunction of incongruities. As soon as you bring your child home from the hospital, you’re probably already starting to worry about how to save for their college expenses. And with the costs of college rising faster than inflation, you’re not wrong to start thinking about college while your child is still in diapers. In this article, we will talk about 529 plans – what they are, how to use them and why this can be one of the best vehicles for saving for college expenses.

What is a 529 plan?

A 529 College Savings Plan (typically referred to as just a 529 Plan) is a vehicle that can be used primarily for parents and guardians to save for the higher education expenses of their dependents. It is named after Section 529 of the tax code and was first introduced in the 1990s. A 529 plan is a shorthand way to refer to one of several different types of accounts for post-secondary education expenses.

Tax advantages of a 529 plan

A 529 plan occupies the same lane as a Roth IRA can for individual retirement savings. That is to say that you contribute after-tax income to your 529 plan. Then, the money in your 529 account can be invested how you choose. When you are ready to use the money, you can withdraw the principal and any earnings tax-free as long as you use it for qualified educational expenses.

There are many different 529 plans

529 plans were first introduced back in the 1990s by the individual states rather than by the federal government. Then as part of the Small Business Job Protection Act of 1996 and the Taxpayer Relief Act of 1997, the framework of 529 plans was codified into the tax code.

Still, most 529 plans are administered by individual states. While most state 529 plans allow out-of-state investors, there are often state tax advantages to using the 529 plan of the state you live in. As one example, Ohio allows up to $4,000 of contributions per beneficiary to be deducted from your Ohio taxable income. One thing to watch out for with the different 529 plans is to compare the different fees associated with the account. If your state’s 529 plan comes with higher than average fees or fund expenses, it may make sense to participate in another state’s plan, even if you miss out on state tax breaks.

While it may seem a bit overwhelming to have several different choices, it’s important to not let that stop you from creating a 529 plan. You’ll definitely come out way ahead investing in a 529 plan as compared to simply keeping that money in a low-interest savings account.

Who can contribute (and how much!) to a 529 plan?

There is no set limit for how much you can contribute to a 529 plan, though some individual plans have their own limits for annual contributions. One thing to be aware of if you are contributing to a 529 plan for a beneficiary that is not your dependent (such as a grandchild) is that there are limits to how much you can contribute without incurring a gift tax. Currently, you (and your spouse) can give $15,000 per year per beneficiary without being subject to the gift tax.

What you can use a 529 plan for?

You as the account owner can take out money from your 529 plan at any time, tax-free, as long as you use it for qualified distributions. Eligible expenses include any expenses related to undergraduate or graduate education, including tuition, books, computers, and even room and board. As of January 2018, you can also use 529 plans to pay for their childrens’ tuition at private elementary and high schools.

You can also change the beneficiary of a 529 plan at any time. This can be useful if you have several children. You can make contributions for each of your children (perhaps spreading them out to take advantage of limitations on tax breaks). Then, you can combine or assign the beneficiary of the account to the child that currently has the educational expenses. This strategy can also work if you have a child who decides not to go to college. Instead of withdrawing the money and paying a 10% penalty, you can simply change the beneficiary of the 529 account.


Another advantage of having a 529 plan is that the account (and money) are in your name, meaning that you have complete control of the account. This prevents your child from using or accessing the money without your consent. Additionally, money in your name is treated more preferentially than money in your student’s name when determining your expected family contribution (EFC) for financial aid.

Hopefully, this information will help you as you strive to make the best plan to pay for college and other higher-education expenses.

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Posted on March 2, 2021

Financial Planning for a Baby: The Costs of Raising a Child

This infographic breaks down some of the expected—and not-so-expected—costs for your budget.

Babies are one of the miracles of life. Also miraculous is the growing cost of raising a child, which is why financial planning for a baby can be so important. From birth, through childhood, to adolescence (oh, the fun times) and into young adulthood, having children means a range of expenses. New expenses. This is where financial planning for new parents comes in.

If you’re planning for a child or about to welcome a new addition to the family (congrats!) and you want to prepare for a baby financially, here’s a breakdown of the expected—and some of the not-so-expected—costs to consider for your budget:

Financial Planning for a Baby Infographic

Although the numbers associated with raising a child can be eye-opening, and perhaps intimidating, it’s not that difficult to prepare for a baby financially. It just takes some organization, forward thinking and careful financial planning for a baby. That means spending less while raising a family and saving wisely with your online savings account. By planning ahead and being prepared, you’ll make financial planning for new parents look like a breeze and enjoy the ride of parenting.

Source: discover.com

Posted on March 2, 2021

The Rise of the Boomerang Generation + How to Manage Finances in a Multi-Generational Household

For the last several decades, parents have been welcoming their adult children home after moving out for college. It’s become an accepted way for young adults to save up and start their lives off with a little less financial burden, and we’re currently seeing that trend rise as more young adults join the boomerang generation.

The boomerang generation is a generation of young adults who return to live with their parents. This group has continued to grow over the last decade, but the trend isn’t totally unique to the current generation of recent grads. In 1985, 54 percent of 18–24-year-olds and 11 percent of 25–34-year-olds lived with their parents. While the rate of 18–24-year-olds living with their parents has stayed relatively consistent, the U.S. has seen a steady rise in 25–34-year-olds living with their parents, reaching 17 percent in 2019.

The rise of the boomerang generation really began following the 2008 great recession, with 13 percent of 25–34 year-olds living at home in 2010 — a new high according to the census data available beginning in 1960. Since 2011, this number has grown to 17 percent of 25–34 year-olds looking to save money at home. This can be an awkward situation for families to maneuver, but with a proper budget and honest financial conversations, it can be a positive move for everyone. 

Learn more about the boomerang generation and how to manage your household with adult children, or check out our infographic for fast facts and tips to improve job prospects after graduation.

Why Are Young Adults Moving Back Home?

Rising unemployment and record-high student loan debt are leaving many recent graduates without resources to cover the cost of living in major metropolitan areas. Some young adults join the over 3 million U.S. households living with roommates, which has risen in popularity by 19 percent since 2007, while others choose to save money by moving back in with their parents, which has grown in popularity by 46 percent since 2009.

Poor Job Prospects

The national unemployment rate in April 2020 reached 14.4 percent, up 3.3 percent from the previous year, so recent grads are entering a tough job market. Entry-level salary projections have dropped 9 percent to $54,585 as competition for these positions rises. Additionally, 15 percent of employers plan to decrease their hiring of recent grads, and nearly five percent of college seniors who had received a job offer had their offers revoked following the COVID-19 crisis. Meanwhile, 22 percent of students and graduates looking to gain experience through an internship had their offers revoked.

boomerang generation and unemployment

Cost of Living Increase

The cost of living and inflation have increased over the last 20 years, meaning the buying power of a dollar isn’t what it used to be. The average cost of a new home in 1999 was $194,800. Considering inflation, that cost should be $297,705 in 2020, but that total is actually $402,400 — indicating a 35 percent increase in the cost of living. 

The cost of living in popular cities for recent grads contributes to the boomerang generation

Where Does the Boomerang Generation Live?

Of the 13 most populous metropolitan areas, Riverside and Los Angeles, California have the highest representation of the boomerang generation, with 25 percent and 24 percent of homeowners reporting that their adult offspring live in their household. New York City reports the highest total number of households housing adult children at 1,438, or 19.3 percent of, New York City households.

Of the top 13 metro areas, Seattle has the lowest representation of adults living at home at 13 percent, which is also the lowest representation across 2017 city housing data — tying Oklahoma City and Las Vegas. 

Cities with the highest and lowest representation fo the boomerang generation

1. Riverside, CA

Riverside has the lowest number of households housing adult children of the top five cities but just beats out Los Angeles as the most representative city. The average age of Riverside residents is 30 years old, under the California average of 36. Riverside’s median rent is $1,352, which is 66 percent of the estimated individual income at $24,733 and double the recommended spending for housing. 

2. Los Angeles, CA

The city of angels is a top destination for recent graduates, but the cost of living deters many would-be movers at an index of 145.8 — nearly 50 percent higher than the U.S. average of 100. The estimated per capita income in L.A. is significantly higher than what Riverside offers at $33,496, while the median gross rent is comparable at $1,397. The pay may be the highest of the three cities, but the job market is highly competitive with an unemployment rate of 18.5 percent. 

3. Houston, TX

Houston offers the best deal on rent of the three cities, with a median cost of $986. Meanwhile, the average income is still higher than Riverside’s at $31,175 and the overall cost of living is just below the U.S. average at an index of 93.5. Still, Houston’s poverty rate is striking with 20.6 percent of residents living below the poverty line. 

While metropolitan areas can offer the highest salaries, they’re also significantly more competitive and it’s not common to make six-figures as a recent graduate. So the boomerang generation is choosing to skip roommates and live with their parents. It’s a comfortable and supportive environment that can help young adults save a significant amount of money, and begin paying their student loans.

How to Handle Finances in a Multi-Generational Household

There’s no doubt welcoming grown children back home can be difficult. Both the parent and child’s needs within the relationship and socially have changed, and the relationship has grown significantly. To help you navigate this potentially awkward situation and prevent conflicts, you need to work together to establish boundaries and expectations.

Discuss Rent and Housing Responsibilities

Financial conversations may be the toughest, but it’s important that everyone knows the plan from the beginning. If your child is working, then it’s totally fair to ask them to help contribute to rent. If you don’t expect financial contributions, then consider chores and other household responsibilities to reduce your workload and help your child feel like this is their home, too. 

It’s important to keep in mind that over 80 percent of young adults live with their parents to save money, and that’s likely the case in your situation. Calculate how much it will cost for you to welcome your child back home and have a discussion with them about what they feel comfortable paying to find an agreeable amount. This is a great time to discuss financial responsibility and make sure that they’re paying down their student debt and saving appropriately. 

Determine Boundaries

You probably both enter this housing arrangement expecting it to be temporary, but you likely have different ideas of what temporary is. Make sure there is a timeline for your child’s stay and figure out a goal or date for when it’s time to say goodbye. For many, this is a savings goal, a new job opportunity, or just knowing they can afford to move out. 

Otherwise, it’s important to find a balance between “your house, your rules” and recognizing that your child is an adult and paying rent. You may let them know it’s disruptive to come home late on the weekdays, but you can agree together that weekends are more flexible.

Set Financial Goals

While you can’t control your adult child’s spending, you can set expectations that they won’t be taking on new debt or planning lavish vacations while living at home. The intention is for them to start their life on the right track, and ultimately you’re being generous by letting them stay at home to save when their room could be your new at-home gym. Take time to help them learn more about how to set an accurate budget so they can manage their finances when they do leave the nest.

There’s no doubt prospects for recent graduates are tough and may get tougher. With student debt reaching all-time highs, inflation, and rising unemployment rates, moving out is not an easy option for many young adults. The boomerang generation is embracing the comforts of home to plan for their financial futures and wait out the College Pulse | Statista | Move | City Data | Investopedia | Bureau of Labor and Statistics | NACE | ICIMS | Census Housing Data | Federal Reserve | New York Federal Reserve | Apartment List

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Posted on March 1, 2021

From Infant to Investor: How to Teach Kids About Money Using a Savings Account

Raising financially responsible kids? Start with a savings account and these simple skills.

When it comes to money management, practice really does make perfect. Start teaching your kids about money by taking an active role in their financial education and demonstrating the importance of saving. You can create activities based on their limited “income,” and exemplify the practices yourself, to help ensure your kids will have a solid foundation for financial success.

Start from a young age and make the lessons interactive

While talking about money can feel uncomfortable, children who don’t receive financial education from their parents can be left trying to figure things out on their own.

Young children learning the importance of saving money

Yulin Lee, who runs a financial coaching service that helps women achieve financial independence, decided to be, “intentional about educating my children with positive mindsets and habits around money.” She worked as a mortgage consultant and financial advisor for years and often dealt with clients who struggled with money. She believes this can be the result of inadequate financial education as children.

Lee started talking to her daughter, Maddie, and her son, Cameron, about money when they were aged 8 and 5, respectively, and received money for birthdays and holidays. “I instilled in them the idea of planning,” she says. “We split the money into five envelopes for: savings, projects, education, charity and fun.” In the beginning, the money got split evenly to simplify the math, but over time the children—with parental guidance—decided how to divide their income. Lee deposited their savings-category funds into the savings accounts she opened for them.

Be Net Worthy, used a similar approach to teach his kids about money. Starting when they were in elementary school, he gave them each a dollar, in 10 dimes, every week. They decorated four containers with spending, saving, investing and donating labels, and each week would put seven dimes into spending, and one each into the other categories. At the end of the year, the children would pick a charity and Sharpe would match their donation—a practice that continues today.

“I have had savings accounts set up for each of them since shortly after their allowances started,” Sharpe says, “I started sharing the interest they were getting every month once it started to accrue.”

Keep lessons interesting

As you teach your kids about money, try to keep your lessons relevant to your child’s age. Focusing on how to divide gift or allowance money is a good start at an age of 5 or 6, and the lessons can build from there. When Lee’s daughter turned 16 and started a part-time job, for example, it prompted a conversation about taxes. Lee also helped Maddie open an online bank account where she can deposit paychecks and is discussing using multiple accounts to emulate their envelope system.

As children start to get into a savings groove, some parents encourage the behavior by offering to contribute the equivalent of a high interest rate to their kids’ savings funds. Increasing your children’s savings by 5 percent a month could help them understand how interest works and the power of compounding interest over time. It also satisfies a child’s desire to “see the results.” Once they saw how interest could increase their savings, Sharpe’s kids didn’t need the extra incentive. “They loved seeing that every month, even when it was just a penny,” he says.

You can continue to teach your kids about money when they head off to high school or college by using new situations and challenges to prompt discussions of more complex topics. This is the time to talk about saving and paying for college, as well as building credit, all of which can impact a child’s finances when he or she leaves the nest. Starting a first job in the real world might call for a deeper dive into taxes, including a discussion of employer benefits and tax-advantaged retirement accounts.

Children may respond differently, but the principles stick

As you might expect, not every child will have the same reaction to your lessons. Both of Sharpe’s children continue to divide everything they earn into the same categories, although their savings rates vary. Anna, who’s now 16, increased her savings rate to 50 percent of everything she makes while Eric, who’s 14, stays closer to the original 70/10/10/10 split.

Lee also observed differences as her children grew older. Cameron, her son, started looking for ways to shift money toward “fun spending,” and he argued that gift money from holidays or birthdays should be able to go exclusively into his discretionary fund. Lee stood firm and showed him how sticking to the plan (putting some cash into savings and other budget categories) could impact his future finances. “He was impressed with the numbers, which helped him to stay with the system,” she says.

Teach your kids about money and exemplify good money habits

Creating interactive money lessons for children can help instill good financial habits, and starting that education from a young age is key. As you continue to tailor your lessons to your children’s needs and circumstances as they grow older, try to exemplify good habits in your own money management. Setting a good example as you teach your kids about money can go a long way as financial skills are learned and practiced over time.

Source: discover.com

Posted on March 1, 2021

How 4 Moms are Gaining Financial Security Through Side Hustles

While the traditional 9-5 office model is slow to adapt to the needs of modern parents, some moms and dads are taking matters into their own hands. They are looking at ways to earn extra income while having flexibility in their schedules, including finding a side hustle.

Whether it’s for a specific financial goal like paying off debt or saving up for something big, this extra income has been instrumental in building up financial security for their families.

Motherhood and Money: Making It Work

You can make this year your financial best by finding ways to earn more and work it around your schedule.

If you’re thinking about making the leap into entrepreneurship, but are unsure where and how to start, here are four moms who have transformed their family’s finances through their work.

Lesson #1: Diversify your income

Sandy Smith has been creating businesses to reach not only her family’s financial goals but also help others.

Besides running the popular blog, Yes, I am Cheap, she’s branched out into selling online with Amazon drop shipping and has online courses.

Last year she also launched the Elevate conference, which is dedicated to promoting and highlighting personal finance experts of color.

All these income streams give her a cushion should one of them dip or fade out.

How about you -if your hours at work were cut or you’re laid off, do you have an income stream to absorb at least some of the blow? Even if you earn a few extra hundred dollars a month, that money can be tucked away to fill up your emergency fund.

Lesson #2: Give yourself runaway before switching into a full-time entrepreneur

Side hustles can not only be a source of income you can use for goals like paying down debt and saving up for a house. As you grow your client list, you may find that it would make sense to pivot it into your primary source of income.

Another awesome momprenuer is My Debt Epiphany’s Chonce Maddox. In 2015, Chonce started side hustling so she could pay off debt, including a high-interest car note.

She kept building that income until she reached the point where she was able quit her day job.

One of the best ways you can transition into self-employment is by building up a buffer with savings. That way you’ll know you have enough to pay your bills and will feel comfortable with your new business income until it increases.

You can use Mint’s goal feature to set up a ‘freedom fund’ and track your savings and progress quickly and easily.

Lesson #3: Designing Work Around Family and Circumstances

As a military spouse, Jen Hemphillhas had to carve out a flexible career that could also be remote.

After seeing a need in her community, she became an Accredited Financial Counselor and began serving women and empowering them with their money.

Cat Alford is another woman who built her business around her family. She became a freelance writer after having twins, allowing her to have time with them and earn income.

Working around the family isn’t usually easy, but many parents feel it’s worth it.

How do you find the right side hustle or work for your circumstances?

Fulfilling a need, having a market, and having a talent and/or skill is where you can build a business.

Where do you see a need around you? What talents and skills do you have to offer? How much time can you sustainably devote to it weekly?

Spending time upfront analyzing yourself and circumstances can assist you in finding the best path forward.

Lesson #4: Dump your debt and free up more options

Sandy’s original purpose with earning extra money on the side was to pay off. With her site, Yes I am Cheap, she funneled that money to pay off over $50,000 of debt!

If you’re getting a tax refund this year, think about setting aside a portion to pay down debt.

This can help your monthly cash flow going forward, giving you some more breathing room in your budget.

Lesson #5: Seek passive ways to earn income

Trading time for money (like becoming a Lyft driver or freelance writer) is a common way to earn money, but it’s not the only way.

Sandy Smith earned income through her mugs. She designed them, but she outsourced much of it and sold on them amazon.

Cat Alford took her skills as a freelance writer and created a course to help others start their online careers.

It definitely takes work to initially create and set up these businesses, but after you’ll have a passive income stream.

This can be an opportunity for you, as well.

As you work your side hustle, look for other services or products you can offer that’s less time-intensive. For example, if you’re a bookkeeper, you can create a guide or a short course for other DIY entrepreneurs.

Having a passive source of income can allow you to grow your bottom line without increasing the hours you work.

Stay on Top of Your Money

No matter what side hustle you’re looking at, I hope these stories encourage you to get started on your dreams!

As a reminder, please make sure that you keep track of the money you’re receiving because it does count as income, and down the line you will need to report and pay taxes on it.

Want to make it easy on yourself? Use software like Quickbooks so you can quickly see how you’re doing and adequately set aside money for your estimated taxes.

I’d love to hear from you -what side hustle would you like to start? What’s your goal for the money earned?
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