Rising summer temperatures herald the beginning of hurricane season. Luckily, the 2023 Atlantic hurricane season is predicted to be relatively mild, with 1-4 major hurricanes (category 3-5) and 5-9 mild hurricanes (category 1-2). Even with a milder season ahead, it’s essential to be prepared.
So, how do you prepare your house for a hurricane? Luckily, this Redfin guide has everything you need to know. Whether you live in a house in Tampa, FL, or a rental home in Wilmington, NC, read on for hurricane preparedness tips and tricks to help keep you and your family safe.
What is a hurricane?
A hurricane, also known as a cyclone or typhoon in other parts of the world, is a large and powerful tropical cyclone characterized by a low-pressure center surrounded by a spiral arrangement of thunderstorms that produce strong winds and heavy rain. They form over warm ocean waters near the equator. Key elements of a hurricane include the eye, eyewall, and rainbands.
Hurricanes can be mild to catastrophic, and can cause damage through storm surges (rising sea levels), high winds, and heavy rains, which can lead to flooding and landslides. They are especially bad if you live in a flood zone.
We measure hurricane severity based on wind speeds using the Saffir-Simpson scale. Here’s a quick breakdown:
Category 1: 74-95 mph (minor damage)
Category 2: 96-110 mph (moderate damage)
Category 3: 111-129 mph (major damage)
Category 4: 130-156 mph (severe damage)
Category 5: 157 mph and higher (catastrophic damage)
How to prepare your house for a hurricane
Before the hurricane hits, there are ten important steps you should take to prepare your home, secure your valuables, and ensure your family remains safe. Let’s break them down.
1. Create a hurricane emergency kit
The first step of preparing for any disaster is to ensure you have a well-stocked, waterproof emergency supply kit, which can be a large tote, box, or carryable kit. Here’s a list of items to include:
Water: Have at least one gallon of water per person per day for at least three days.
Food: Include at least a three-day supply of non-perishable food items that don’t require cooking, such as canned goods, protein bars, peanut butter, dried fruits, and nuts.
Manual can opener: Keep a manual one on hand to open canned food.
Medications: If possible, pack a seven-day supply of prescription medications and other essential medicines.
First aid kit: Include bandages, antiseptic wipes, tweezers, medical tape, gloves, and over-the-counter pain relievers.
Hygiene supplies: Pack items like hand sanitizer, wet wipes, toothpaste, soap, menstrual products, and toilet paper.
Flashlights and batteries: Keep a flashlight and a healthy supply of extra batteries on hand.
Portable charger: A portable battery charger can keep your phone and other necessary electronics running if the power is out for a while.
Cash and important documents: Keep some cash, as well as copies of your important documents (like passports, driver’s licenses, and insurance policies) in an accessible waterproof container
Radio: A battery-powered or hand-crank radio can keep you updated on the storm’s progress and other important information if the power goes out.
Clothing and bedding: Pack a complete change of clothes and sturdy shoes for each family member, and include warm bedding.
Tools and supplies: Include items like a multi-tool, duct tape, a whistle to signal for help, and local maps. It’s also essential to keep plastic sheeting and zip ties to shelter in place.
Other supplies: If you have pets, infants, or elderly household members, remember to pack pet food, infant formula, diapers, and any necessary medical equipment and backup power.
2. Secure doors and windows
Make sure all your doors and windows are secure and in good repair to prevent water from getting inside. Consider installing storm shutters or pre-cutting plywood to board up your windows. Additionally, reinforce your garage door with braces or strong plywood. You can go a step further and invest in a wind- or impact-resistant garage door or storm door, which can greatly reduce the risk of damage to your home.
3. Install a backup power source
Consider installing a generator or heavy-duty battery in case the power goes out for a long period of time. Remember to use gas-powered generators safely by keeping them dry and outdoors to prevent carbon monoxide poisoning.
If you have the budget and time before a storm hits, it can be a good idea to install solar panels or another renewable energy source, so you can power your home independent of the power grid. Keep in mind that you need batteries to store the power your solar panels generate.
4. Review your insurance coverage
Review your homeowner’s insurance policy to ensure you have coverage in case of hurricane damage, especially because many standard plans don’t cover disaster or flood damage. If your current homeowner’s insurance doesn’t cover your home, you can get insurance through Floods Smart, which is a national program managed by the Federal Emergency Management Agency (FEMA).
“Don’t wait until it’s too late to obtain flood insurance,” implores Jennifer Jones, Marketing Manager with FloodPrice. “Most flood insurance carriers have a waiting period of up to 30 days, so act now before the storm comes.” Even if your home is in a low- or moderate-risk flooding area, flood insurance is still a good idea.
5. Establish a safe room
If your house doesn’t have a dedicated safe room, identify a small, windowless, first-floor room where you and your family can shelter during the hurricane. This is where you should keep your emergency supply kit and anything else you may need if you must shelter in place.
If your home doesn’t have a space where you can shelter safely, go to a friend’s or relative’s home or an open disaster shelter. Importantly, never use your basement to shelter during a hurricane, as flooding is common.
As always, follow evacuation recommendations and orders from authorities.
6. Inspect and repair your roof
Inspect your roof for loose tiles or shingles and other vulnerabilities. You can consider hurricane straps to ensure your roof is bolted to the rest of your house. In hurricane-prone regions, reinforcing the roof of your home can significantly decrease potential damage.
Many southern US states have recently passed hurricane-specific building codes for new buildings, which ensures that homes can withstand winds up to 130 miles per hour. Buildings in the High Velocity Hurricane Zone in Florida have even higher wind speed requirements.
Some states haven’t updated their building codes, however, so do your research and plan on installing your own protection.
7. Clean gutters and downspouts
Clear your gutters and downspouts of debris to ensure water can drain away from your house properly. This helps to prevent water damage and reduce the risk of roof collapse from excess rainwater weight. You can also have a professional to examine your home for potential risks
8. Trim trees and shrubs
Well-maintained trees and shrubs are less likely to become projectiles during high winds. To help, cut tree branches down to no more than four or five feet long and to remove any dead or dying branches or plants. Also, dispose of any trimmings and debris, so they don’t blow into the street or build up on your property.
9. Secure outdoor objects
Secure or bring indoors all outdoor furniture, decorations, garbage cans, and anything else not tied down. “These items can become dangerous projectiles during high winds,” notes Levi Kastner, owner of Kastner Insurance Group. “Additionally, take a detailed inventory of your valuables, including photos or videos of possessions, in case you make an insurance claim after the storm.”
10. Prepare an evacuation plan
Lastly, always have an evacuation plan in place for you and your family. Know the local hurricane evacuation routes and where the nearest shelters are. Remember to plan for your pets and elderly family members as well.
How to file an insurance claim after a hurricane
Insurance companies can be difficult to deal with following a hurricane. Luckily, we have expert guidance from April Weismann, Executive Vice President of HPM Insurance, to help guide you through the process. Here are seven steps:
Assess any property damaged following the storm, make a list of damaged property and belongings, and take photos and video of damage for proof.
Contact your insurance agent or carrier directly to file a claim.
Prevent further damage by boarding windows or tarping the roof if necessary. If you can’t do it yourself, contact a restoration company to do it for you.
Do not throw anything out until a company adjuster has assessed the damage and authorized you to do so.
Lastly, be patient. After a large hurricane, companies work overtime to assist thousands of people filing claims. Unfortunately, it will likely take time for them to get to yours.
Final thoughts on how to prepare your house for a hurricane
When the hurricane does hit, you must be prepared. By following these ten steps, you can help reduce damage to your property and keep your family safe.
When I started getting serious about frugal living, my husband dredged up one piece of juicy financial advice he recalled from his grad school days: Use half of what you normally would. He was talking about consumable goods like shampoo and dish soap. The idea is to reduce by half the amount of these things you use by doling out smaller portions. Normally use a quarter-size dollop of shampoo? Try cutting back to a dime.
There’s no need to stop at half, actually. You can keep scaling back your usage gradually until you hit a point where you actually don’t have enough, and then creep back up to the last place it felt good. Maybe that dime-size drop of shampoo isn’t enough for your hair, but a nickel-size portion gets the job done nicely.
This approach works. I bought a large container of dish soap at Costco in March of 2009 and have not run out yet. This is not for lack of doing dishes: There are five people in my household, and we do all of our cooking from scratch. We make a lot of dirty dishes, and we wash a few sinkfuls a day.
One reason cutting back on consumption has worked so well for me is that I automated it. Rather than depend on my fragile mind to remember to use smaller sloshes of soap or shampoo every time I wash, I buy my cleaning products and personal care items in bulk and pour them into smaller containers — at half strength. The small plastic bottle next to the kitchen sink contains half water and half soap. I use the same amount when I wash the dishes, but I’m going through the soap at half the rate I used to.
The 50-percent solution has worked so well for me with my household goods, I decided to expand it to other areas of my life. In addition to basic consumables, I’ve applied to 50-percent solution to:
Shopping for clothes. I mostly don’t shop for clothes, but on the rare occasion that I do, I’ve learned to ask: Do I need two of these? I picked up the habit of buying multiples of something I like when I was younger. While that often works out well, just as often I can get by with one pair of jeans or one new bra.
Going out to bars and restaurants. This is often a trouble spot for me, since I love going out with friends. Scaling back that type of social activity by half lets me stay close to the people I care about without busting my budget.
Over the counter medications. Take two aspirin and call me when you’ve tried cutting back to see if one will do the trick. I wouldn’t suggest trying this with your prescription meds, but for simple over-the-counter stuff like headache medicine, I’ve found that a half dose is often perfectly effective.
Groceries. My kids will eat a near infinite amount of fresh fruit, pretzels, and yogurt. How much is enough? The only way to tell was to gradually buy less until we ran out and they complained. We’ve cut our grocery budget in half combining this with other grocery savings hacks. We also waste practically no food these days, which is a pretty great feeling.
Therapeutic appointments. My husband sees a chiropractor regularly for chronic back issues. Over time, they’ve gradually scaled back their appointments from twice a week to only twice a month. This saves us time and money. As with all these measures though, the key is to get to Enough. Cutting back too much on these appointments would cause him pain and interfere with his life. The balancing act is to be sure he gets what he needs from his chiropractor, without over-committing resources that could be better used elsewhere.
Basically, we’ve tried tapering off anything I routinely spend money on where I have some control over the amount I use. For example, cutting dinner dates with my husband down from once a week to once a month felt too scarce, but every other week is a good balance between staying frugal and staying connected.
In general, this approach saves me money. In a few cases, it’s prompted me to spend more. I wasn’t spending enough time with my husband, for example. As our financial situation has stabilized, that’s a problem I’ve started throwing more money at, taking us out for “date nights” a few times a month instead of insisting that we always stay in. Yes, eating out is expensive. But the time alone together away from the weight of housework and unfinished tasks at home is priceless.
As with any money hack, the most important thing isn’t how I save the money, it’s what I do with it. A dollar saved is only really saved if I don’t immediately spend it on something else. The savings from these gradual reductions in consumption are often harder to see than the clear figures one gets from canceling a subscription and saving the monthly fee.
How much have I saved on laundry soap over the past year? It’s possible to track that data and get a real answer, but I don’t keep records that detailed. The dollars I’ve saved didn’t get banked straight into my savings account. Instead, they’ve padded my margin a bit, making it easier to stick to our budget each week and possible to splurge on treats like dinners out with my husband.
Even beyond the actual money saved, I get a psychological benefit from doing this. Like my commitment to buy nothing new or my 30-day list, the 50-percent solution acts as a checkpoint for purchases. Do I really need this? Do I need all of this? Could I make do with less?
Being in the habit of asking myself those questions has saved me a lot more money than just cutting my shampoo with water does. It helps me stay in a frugal mindset when I’m shopping. That’s not easy to do. Stores are designed to push you towards impulse buys, and being armed with mental money hacks helps me fight back against their subtle (and not so subtle) marketing.
I love this approach because it helps me find balance. It’s not about committing to a life of extreme austerity, it’s about avoiding waste. I often think of the curve at the beginning of Your Money or Your Life that shows a person’s happiness increasing as they have the resources to supply their basic needs, and then some comforts and finally a few luxuries. Beyond that magic point of Enough, the curve calls off as more and more luxuries are piled on but fail to satisfy.
The 50-percent solution helps me know what my personal Enough is. What’s Enough soap? Enough entertainment? Enough snack food?
Scaling back incrementally lets me find those magic points on the curve and stay close to them. I get to have Enough to be happy, without wasting resources like money, time and energy on acquiring more of something than I need or want.
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Radford Studio Center, a storied movie lot in Studio City that has been home to generations of landmark television shows — including “Gunsmoke” and “Seinfeld” — is set to get a $1-billion upgrade to expand its facilities and bring them further into the digital age.
The owners of the lot formerly known as CBS Studio Center submitted plans to Los Angeles officials Friday to revamp and enlarge the aging studio and broadcasting complex, adding as much as 1 million square feet of new soundstages, production facilities and offices.
Founded by movie comedy legend Mack Sennett in 1928, the lot became known as “Hit City” in the decades after World War II as popular TV shows such as “Leave It to Beaver,” “Gilligan’s Island,” “The Mary Tyler Moore Show,” “The Bob Newhart Show” and “Will & Grace” were made there. Current shows include “Big Brother 24” and “Physical.”
“It’s got this mystique that if you come there you’re going to make it,” said studio President Mike Klausman, who has worked on the property since he started there as a CBS page in 1971.
The Radford complex was the very studio lot that gave rise to the name Studio City. It’s had numerous incarnations, including decades as Republic Studios, home to such screen legends as Roy Rogers, John Wayne and Joan Crawford. Among Republic’s popular movies were “The Quiet Man,” “Sands of Iwo Jima” and “Johnny Guitar.”
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The current state of the 55-acre studio is less glamorous than its heritage would suggest, having evolved like an old city where new additions, often built on a tight budget, were layered over and around existing structures.
“There was never really a master plan,” Klausman said. “You would never tear down anything, just add on. We had to work around what was there.”
Bungalows for writers and stars — often quaint structures from Hollywood’s Golden Age on other historic movie lots — are clusters of mobile homes delivered in the 1990s when times were lean, he said. The vast roofs of soundstages used to drain rainwater directly onto the asphalt roads below.
“You almost needed a boat to get from one studio to another,” Klausman said. “It was like a river in that place.”
The drainage issue has been fixed, and times are no longer lean as the rise of streaming has escalated demand for soundstages and other production facilities and prompted the development of new studios in the Los Angeles region. Radford and other studios are booked year-round.
Though it is outwardly unassuming with its main entrance tucked around a corner from Ventura Boulevard on Radford Avenue, the Radford studio is among the most valuable in the world based on price. It sold in 2021 for $1.85 billion to Hackman Capital Partners, one of the largest providers of entertainment production facilities, and New York real estate investor Square Mile Capital Management.
“The history of hit shows that have been produced at Radford trace the trajectory of culture and entertainment in Los Angeles,” said Zach Sokoloff, a senior vice president at Culver City-based Hackman, who plans to complete its makeover.
Its location in an upscale Los Angeles neighborhood near other illustrious movie studios beloved by filmmakers made Radford highly sought after when it hit the market nearly two years ago, said real estate broker Carl Muhlstein of JLL, who represented seller ViacomCBS in the deal. There were multiple bidders for the property, he said.
“Between Studio City and Burbank there are four iconic studio lots. Disney, Warner Bros. and Universal haven’t changed hands for over 100 years,” he said. “Here was an opportunity to buy something that only became surplus with the merger of CBS and Viacom” in 2019.
In addition to the real estate assets, ViacomCBS (which now goes by Paramount Global) turned over its lucrative studio operations business at the former CBS Studio Center, which includes stage rentals, facilities management and production support services on the Radford lot.
ViacomCBS sold another former CBS property, Television City in L.A.’s Fairfax district, to Hackman for $750 million in 2019. Paramount Global controls legendary Paramount Studios in Hollywood.
CBS’ two L.A. television stations, KCBS-TV (Channel 2) and KCAL-TV (Channel 9), are housed at the CBS Broadcast Center on the Radford lot, and the local news operation will stay put as part of a long-term lease-back.
CBS, which acquired the property from Republic Pictures in the 1960s, will continue to occupy stages and produce content on the Radford lot. CBS-produced shows there now include “SEAL Team,” “Entertainment Tonight,” “The Neighborhood” and “The Talk,” which is recorded before a live audience.
In its present form, Radford Studio Center offers tenants 18 traditional soundstages and four other stages. The site also has about 210,000 square feet of production office space and its own mill to provide carpentry services and special effects, a commissary and a carwash.
It has a backlot with a “Central Park” and a “New York Street” with 11 building fronts, including four brownstones. It also includes simulated residential neighborhoods with a hodgepodge of houses in different architectural styles, including a facade used as the Cleaver residence in the sitcom “Leave It to Beaver.”
Hackman’s proposal calls for creating a largely new studio with 2.2 million square feet of buildings, including up to 25 soundstages and 300,000 square feet of production support space such as wardrobe, storage and a mill. There would be 725,000 square feet of offices to support productions and an additional 700,000 square feet of offices available for rent to companies in the entertainment industry.
Historic structures, including the Mack Sennett Building and Stages 9 and 10, would be preserved.
To improve access, an entrance off Ventura Boulevard at Carpenter Avenue would be “resurrected,” Sokoloff said. The studio once had an entrance there, but it closed several decades ago.
Also planned is a new bridge over Tujunga Wash at Moorpark Street that would make Radford Avenue a through street. Only vehicles going to the studio could cross the bridge, but it would be open to members of the public on foot or on bicycles. The Los Angeles River Greenway, a 51-mile bike and pedestrian path, is currently interrupted at Radford Studio Center and a new bridge would close that gap.
Hackman owns five studios in the L.A. region, along with facilities in New York, New Orleans, Ireland, Canada, London and Scotland.
The company plans $1.25 billion worth of improvements to Television City that will add soundstages, production support facilities and offices for rent.
Though the Los Angeles area has the largest number of soundstages of any city in the world, studios are operating near 100% capacity with waiting lists as long as five film productions deep for those spaces, financial advisor Deloitte said in a 2021 report.
“To meet the booming demand, supply would need to more than double in Los Angeles County” in the next few years, Deloitte said. Planned projects for more studio space fall far short of that.
The Radford Studio project would add more than 4,000 workers upon completion, doubling the number of people employed there now, according to a study by the L.A. County Economic Development Corp.
Skin microflora isn’t the only thing that can grow on you. Films can too. The internet identified several undeniably great films they weren’t feeling the first watch. After a few more viewings, though, initially wary film fans recognized these movies’ excellence.
1. The Big Lebowski (1998)
Dude, how can you not love The Dude? To be fair, Jeff Bridges’ protagonist in The Big Lebowski is so ridiculous and so dedicated to the word “dude” that I understand how many would see the movie as too much.
Similarly, over-the-top characters like John Turturro’s Jesus Quintana and John Goodman’s Walters Sobchak may take multiple viewings to appreciate.
2. No Country for Old Men (2007)
Movies from the Coen Brothers age like fine wine. According to some, No Country for Old Men was No Movie for For Them.
The 2008 Best Picture Oscar Winner received heaps of praise and was one of the must-see movies of its era. Therefore, the relatively slow pacing and the unconventional ending surprised action-seeking filmgoers. Because, honestly, what else could they possibly complain about when it comes to No Country for Old Men?
3. Napoleon Dynamite (2004)
“What are you going to do today, Napoleon?”
“Whatever I feel like I wanna do, gosh!”
Between the unforgettable comedic dialogue, oddball characters (Kip, Uncle Rico, and the llama Tina stand out), and utterly virgin-esque mannerisms of Napoleon himself, Napoleon Dynamite became an unlikely smash comedy.
However, the low-budget comedy didn’t land the first time with many viewers who didn’t understand the hype. With maturation and multiple re-viewings, they came to appreciate Napoleon’s brilliance.
4. Office Space (1999)
Mike Judge’s brand of comedy isn’t for everyone, and Office Space clearly targeted the cubicle-dwelling audience. A one-time critic said that Office Space seemed foreign the first time they watched it, but rewatching the movie after working an office job significantly elevated the film’s comedy.
5. The Godfather (1972)
One confessional cinephile admits they were an uncultured, 16-year-old neanderthal when they thought The Godfather was slow and tedious. They grew up, changed their mind, and thus we can forgive their youthful ignorance.
6. Vertigo (1958)
The acclaimed thriller from Alfred Hitchcock was not as “scary” as some viewers expected. Upon further review, converted fans of Vertigo came to appreciate the movie’s before-its-time cinematography and plot structure.
7. Whiplash (2014)
Truly one of the most shocking submissions on the internet’s list of films that did not immediately impress, Whiplash received near universal acclaim from audiences.
A one-time critic explained they missed a critical plot point at the movie’s end. The critic immediately became a Whiplash fan when they caught the subtle scene on second viewing.
8. The Life Aquatic with Steve Zissou (2004)
Writers Wes Anderson and Noah Baumbach are not for everyone, and The Life Aquatic With Steve Zissou is one of Anderson’s more ambitious films. The director’s brand of quirky, at times awkward comedy has a way of growing on viewers like that mole you’ve been meaning to have your dermatologist check out.
9. Step Brothers (2008)
Some viewers still don’t appreciate the artistry of two full-grown, established comedic actors playing infantile stepbrothers. While nobody claims Step Brothers to be a highbrow comedy, the absurdity of DIY bunkbeds and drum-set therapy becomes more comedic as the world grows increasingly serious.
10. Miami Vice (2006)
Viewers were absolutely pumped for a Miami Vice reboot starring box-office draws Colin Farrell and Jamie Foxx, directed by accomplished filmmaker Michael Mann. Many were expecting a South Beach-ified version of Heat yet encountered a more deliberate, artful movie.
With time, many have come to appreciate Mann’s rendition of Miami Vice as a quality film, though the initial disappointment still lingers in the film’s IMDb rating.
Source: Reddit.
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If you’re trying to save, you might be struggling with some common challenges: How do I work towards multiple financial goals at the same time? How can I make sure my financial objectives don’t get lost in day-to-day expenses or impulse buys? How can I ensure I hit my savings goal by a certain date? Let’s dig into these questions and more ways to make sure your savings goals remain a top priority. If you’d like individualized help with your savings strategy, consider working with a financial advisor.
Determine Your Personal Goals
One of the most effective ways to make saving a habit is to understand what you want to save for. Everyone has their own savings goals, but here are some of the most common and most impactful.
Building an emergency fund: One of the best ways to feel more secure financially is to have a backup fund for unpleasant surprises. Whether it’s car trouble, an illness or something else, having a savings account that can cover these expenses can help you navigate the ups and downs of life without racking up debt or getting behind on other bills. Many experts suggest you save enough to cover about three months of expenses, but every little bit will help when the unexpected happens.
Saving for retirement: If you’re one of the many who dream about retiring and living life on your terms, starting your retirement savings early is key. The good news is that there are retirement vehicles that offer tax savings and many employers will help you build your savings. If your employer offers a 401(k) match, take full advantage of it. Experts often advise that you save at least 15% of your pre-tax income, but again, saving a smaller percentage is better than saving nothing.
Paying off debt: Paying off debt may not be “saving” in the traditional sense of squirrelling money away for the future, but paying off high-interest debt faster will often save you thousands of dollars over time. Once you pay off debts, you have more income that can then be directed to emergency funds, retirement accounts and more.
Specific funds: Whether it’s a college fund, a vacation fund or a down-payment fund for a house, setting aside money for a specific purpose is an excellent goal to have.
Make a Savings Plan
So you know your goals – now how do you get there? Here are seven steps to kick off your savings journey.
Make specific goals: Even if your financial goals don’t differ substantially from the list above, put your own unique number to it. If your monthly expenses come to $2,500 and you want an emergency fund that covers three months of expenses, you need to save $7,500. If you have two credit cards you want to pay off, each with a $500 balance, you’ll need to set aside $1,000 plus any interest payments and fees you’ll incur. If you want to save for a down payment, what price range can you afford for a home and what percentage are you hoping to put down? Get granular on the details.
Rank your goals by priority: Which goals are the most important to you? While financial advisors will often recommend you work towards multiple financial goals at the same time—especially building an emergency fund, saving for retirement and paying off debt—you will need to determine what percentage of your income you want to direct to each fund.
Break down your goals into monthly steps: Let’s say you’ve decided your top goals are to build an emergency fund, save for retirement and save for a down payment for a house. How much money can you devote to savings per month? If you have $500 of income that you can allocate to savings on a monthly basis, you could put $200 in your emergency fund, which means you would reach your goal of saving $7,500 in a little over three years. You could allocate another $200 to retirement savings and put the final $100 towards your down payment savings goal.
Create a budget: You may already have a budget, but it’s time to officially add your savings goals to your spreadsheet, app or whatever you use to track your spending. By making your savings goals a part of your overall financial plan rather than something you always mean to do and never get around to, you can keep those goals high on your priority list.
Cut spending: One of the quickest ways to accelerate your progress towards your savings goals is to cut your spending in another area and redirect that money towards savings. Are there subscriptions you don’t use? Are there services you could do yourself? Are there luxuries that you don’t enjoy enough to justify the money you spend on them?
Automate your savings: Another way to make your savings goals a reality rather than a pipe dream is to automate them. Set up an automatic 401(k) contribution with your employer. Set up an automatic monthly transfer from your checking to your savings account. Automate your credit card payments. By taking away the opportunity for you to decide to skip it, you can solidify the habit with minimal effort.
Use mistakes as learning opportunities: Let’s say you impulse bought a new pair of shoes with money that could have—and maybe should have—been put towards your savings goals. Rather than beat yourself up about it, ask yourself why you made that decision. Was it emotional? Did you feel peer-pressured? Did you actually get joy out of the purchase or did you just feel bad for not making a better financial decision?
Check In With an Expert
If you feel a little overwhelmed by your financial situation and haven’t been able to make headway toward your goals, you might benefit from working with a financial advisor. Experts are often able to open your eyes to things you wouldn’t otherwise have noticed and strategies you may not have otherwise tried. Financial advisors often understand the emotional side of financial decision-making as well and can help you stick with your financial priorities even when it’s tough.
It’s not just the expertise that can be valuable. Sometimes the accountability of working with a financial advisor can go a long way. If you knew someone was looking at how you spent your money and measuring it up against the goals you shared with them, would you be more likely to stick to your plan instead of splurging on something outside of the plan?
If you don’t think you can afford an advisor’s fees and you belong to an underserved group (including low-income people, military personnel, veterans and more), you may be eligible for pro bono financial planning services through the Financial Planning Association. Reach out to your local chapter to see what services they offer.
The Bottom Line
Many people have trouble prioritizing their savings goals, but you can start by fleshing out the specifics of your goals and making a plan to reach them. If you need expert help, consider working with a financial advisor, who can share new strategies and provide accountability that will help you meet your goals that much faster.
Tips for Saving Money
Not sure what investments and strategies will help you meet your long-term goals? For a solid financial plan, consider speaking with a financial advisor who can help you think through details you may not be aware of. Finding a financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three vetted financial advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Use SmartAsset’s budget calculator to see how your spending breaks down and how your budget stacks up against the average person in your neighborhood.
Last Updated: May 26, 2023 BY Michelle Schroeder-Gardner – 13 Comments
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Mystery shopping. Many of you have emailed me and asked me the question “what is mystery shopping” and have been wondering how I am making money through mystery shopping.
I usually make around $150 to $200 a month from mystery shopping.
Side note: If you are interested in the many other ways I earn extra money, check out my Extra Income page on my blog.
I use mainly Bestmark for my mystery secret shops. I’m not sure what other companies are good and reputable mystery shopping websites, but I know for a FACT that Bestmark is a legitimate mystery shopping website, so you can trust me when I say that.
Last month I didn’t make too much because not a lot of “good” shops were offered in my area. Lately, I’ve been a little more picky with the shops that I sign up for also.
What I consider a worthwhile shop for ME:
Either an online shop or phone call shop
If I have to drive, it’s close to somewhere I’ll be
Something I’ll use. I love doing Estee Lauder shops because I always love free makeup.
Restaurant shops, because I have to eat, of course.
Of course, what’s worthwhile to you and me might be different. When I first signed up for mystery shopping (sometime last summer I think), I literally signed up for everything. I made decent money, but it wore me out. The amount of surveys that you have to do is so repetitive that it makes you want to throw your computer at the wall.
Sometimes surveys take just a minute, but sometimes they literally take an hour. Restaurant shops usually take a little longer than others because usually you are grading every little detail.
Some examples of mystery shops I’ve done include:
Restaurants. This ranges from cheaper restaurants where I’m reimbursed for around $30 worth of food, all the way up to nice steakhouses where I get $100.
Dealerships. Bestmark has a ton of dealership shops available, but I only have done the phone call and scheduling services online secret shops.
I usually do about 4-5 of these a week and these are the easiest shops. You don’t have to drive anywhere and the surveys literally take one minute. And you get paid around $5 for them. Although recently they’ve lowered the payment to only $3, and there’s a ton more work involved. I had to cancel around 3 or 4 shops because they didn’t make it clear enough about the amount of work that I signed up for. And for $3, I’m not really willing to do too much.
They also have dealership secret shops where you go in and pretend you want a car. These usually pay around $20. This is something I’ve never done, and they have plenty of these available for everyone to do. I’ve never done this because car salesmen scare me. I’m not ready for thousands of annoying phone calls and I’m afraid that I’d be stuck in a dealership for an hour while trying to run away from the salesperson.
Retail. I mainly do Estee Lauder. I’ve done a lot of these. I’ve gotten foundation, lotion, toner, face wash, concealer, lip gloss and so on, all for FREE! And these aren’t sample sizes, I’ve probably gotten over $200 in stuff, plus gotten paid around $10 on top for each shop as well.
I’ve also done a couple of Best Buy shops. These are easy too. You just survey a certain department (takes like a minute), and then you can just buy something small like a candy bar so that they have your receipt for proof that you were actually there and performed it. Best Buy shops usually pay around $13. Not a ton, but the Best Buy is along the way home from my work so I just pop in.
This is a mystery shopping check from one week’s of mystery shopping.
The highest paid shops I do are usually for restaurants. I’ve done a couple of nice restaurants where I had to eat over $100 worth of food. Crazy! I’ve also seen Hotel mystery shops, but they’ve never been on a good day for me, so I’ve never been able to sign up.
Also, if you find that you cannot do a shop that you sign up for, all you do usually is contact your scheduler and say you need to reschedule or cancel. Try not to do this too often though. These schedulers will remember you, and if you’re good to them, they will give you good shops, so remember that!
Mystery shopping money will NOT make you rich. I want to make that clear. It’s just a nice form of side income, where I can get things I want for free! What I make from mystery shopping, I add to my vacation fund. So it’s a nice little addition every month.
If I want to eat at a nice restaurant that I would usually go to, then YES I would love to do a secret shop there. Those are always the greatest shops because you are paid to have fun.
Do you secret shop such as through Bestmark? Any tips?
Also, if you join Bestmark, please say I referred you! My ID is MO4999. You can join Bestmark by clicking here.
If you are new to my blog, I am all about finding ways to make and save more money. Here are some of my favorite sites and products that may help you out:
Cut your TV bill. Cut your cable, satellite, etc. Even go as far to go without Netflix or Hulu as well. Buy a digital antenna (this is the one we have) and enjoy free TV for life.
Start a blog. Blogging is how I make a living and just a few years ago I never thought it would be possible. I earn over $30,000 a month online through my blog and you can read more about this in my monthly online income reports. You can create your own blog here with my easy-to-use tutorial. You can start your blog for as low as $3.49 per month plus you get a free domain if you sign-up through my tutorial.
Lower your cell phone bill. Instead of paying the $150 or more that you spend on your cell phone bill, there are companies out there like Republic Wireless that offer cell phone service starting at $5. YES, I SAID $5! If you use my Republic Wireless affiliate link, you can change your life and start saving thousands of dollars a year on your cell phone service. I created a full review on Republic Wireless as well if you are interested in hearing more. I’ve been using them for over a year and they are great.
Sign up for a website like Ebates where you can earn CASH BACK for just spending like how you normally would online. The service is free too! Plus, when you sign up through my link, you also receive a free $10 gift card bonus to Macys, Walmart, Target, or Kohls!
Save money on food. I recently joined $5 Meal Plan in order to help me eat at home more and cut my food spending. It’s only $5 a month (the first two weeks are free too) and you get meal plans sent straight to you along with the exact shopping list you need in order to create the meals. Each meal costs around $2 per person or less. This allows you to save time because you won’t have to meal plan anymore, and it will save you money as well!
Answer surveys. Survey companies I recommend include American Consumer Opinion, ProOpinion, Pinecone Research, Opinion Outpost, Survey Spot, and Harris Poll Online. They’re free to join and free to use! You get paid to answer surveys and to test products. It’s best to sign up for as many as you can as that way you can receive the most surveys and make the most money.
Use Swagbucks for your online searches. Swagbucks is something I don’t use as much, but I do occasionally earn Amazon gift cards with very little work. Swagbucks is just like using Google to do your online searches, except you get rewarded “points called SB” for the things you do through their website. Then, when you have enough Swagbucks, you can redeem them for cash, gift cards, and more. You’ll receive a free $5 bonus just for signing up today!
Try Digital Voice. Another one you may be interested in related to Swagbucks is Nielsen Digital Voice. Digital Voice is a part of Nielsen, which I’m sure you’ve heard of. All you have to do is surf the web and you may be able to start earning money.
Try InboxDollars. InboxDollars is an online rewards website I recommend. You can earn cash by taking surveys, playing games, shopping online, searching the web, redeeming grocery coupons, and more. Also, by signing up through my link, you will receive $5.00 for free just for signing up!
Find a part-time job. There are many part-time jobs that you may be able to find. You can find a job on sites such as Snagajob, Craigslist (yes, I’ve found a legitimate job through there before), Monster, and so on.
If you haven’t started your children or teens off with a kids checking account optimized for their needs, you’ll want to help your college student open a checking account before they begin school.
Opening a checking account for your child can teach them about money management and financial responsibility, along with providing them an easy way to make debit card purchases. It’s never too late to get started.
One advantage to helping your young adult open their first student checking account is they have more options than they might have when they were 16 or younger. Students over 18 can open a bank account with few restrictions.
But choosing a student checking account may give them access to higher interest rates and added features and benefits, along with fee-free checking, no monthly maintenance fees, and no minimum deposit to open an account.
12 Best Student Checking Accounts
Not surprisingly, many of the best student checking accounts come from banks that also offer some of the best checking accounts for any age. However, the products below – in most cases – are tailored for young adults from the ages of 18 to 24, with the features this age group desires most, including an intuitive mobile app and low or non-existent minimum deposit requirements.
1. Best for Students under 18: Capital One MONEY Teen
Most of the student bank accounts on our list exclude children under the age of 17 or 18. Capital One MONEY Teen checking is available to children ages 8 and up. It comes with all the benefits and security of a big bank, providing peace-of-mind. This includes access to Capital One branches and Capital One Cafes for in-person service. This account also serves as a great tool to teach your young adult the basics of banking.
Capital One MONEY Teen checking is a joint account with no monthly fee, no overdraft fees, and access to 70,000 ATMs with no fees. Plus, earn 0.10% on all balances, including those in checking.
You can link Capital One MONEY Teen checking to any other bank account through any bank or neobank, making it easy to transfer money to your teen while they are away at college. Plus, you can keep tabs on their spending with their linked account in the Capital One mobile app.
When they graduate, your teen can hold onto their MONEY account or transfer the funds into a top-rated Capital One 360 Checking account of their own.
2. Best for Working Students: Chime
Chime is not a bank. It’s a financial technology company and mobile app backed by Stride Bank, NA, and The Bancorp Bank. Many features make it perfect for working students. First, you can receive your paycheck up to two days earlier than you might at other banks with ACH deposit.
Plus, you can set up automatic transfers to your linked Chime Savings account, helping you to establish good financial habits early on. Simply set up Chime to transfer a percentage of your paycheck into your Savings Account every time you receive a direct deposit.
When you use your debit card for purchases, the “Save When You Spend” program rounds up your purchase and transfers the difference directly into savings. That small change can really add up, whether you’re saving for your first apartment after college, a new car, or your next tuition bill.
For working students looking to build their credit, Chime gives account holders access to a Credit Builder Secured Visa, with no annual fee, no credit check, and no security deposit required. Instead, the credit account is secured by your Chime checking account with monthly direct deposits.
Like many of the best student bank accounts on this list, Chime has no overdraft fee, no monthly service fee, no ATM fee for in-network ATMs, and no minimum balance requirements.
3. Best Account Opening Bonus: Chase College Checking
Chase Bank has been handing out student account opening bonuses like they hand out lollipops at their branches lately. College students ages 17 to 24 can snag a $100 bonus when they open an account online or at a local branch (students age 17 will need to visit a branch). You’ll just need to make 10 qualifying transactions within the first 60 days of opening the student bank account.
What’s a qualifying transaction? Virtually anything, according to the Chase website, including debit card purchases, online bill payments, Chase QuickDeposits, Zelle transfers, and ACH credits. Bank as you normally would, and you should easily earn that $100.
In addition to the generous sign-up bonus, Chase College Checking has no monthly fees for college students for up to five years, access to 16,000 ATMs and 4,700 branches across the U.S., and zero liability protection for unauthorized debit card purchases.
Chase Overdraft Assist covers purchases that exceed your account balance. You’ll pay no overdraft fee if you’re overdrawn by $50 or less at the end of the next business day.
4. Best for Yield: Ally Interest Checking
Ally Bank is the first bank on our list not designed specifically for students, but the vast array of features in this interest bearing checking account makes it ideal for young adults.
Ally Bank offers an APY of 0.25% on checking account balances and 4.00% APY on balances in a linked Ally Bank savings account. Neither account has any monthly fees.
Ally offers several features to help those on a tight budget manage their money. You can organize your money into spending and saving buckets, which can help you see exactly where your money goes each month. Ally will also review your bank accounts and help you find opportunities to save, and shuttle that extra money into your high yield Ally savings account.
Customers who have deposited $100 or more into their Ally checking account, or $250 via direct deposit, gain access to Ally’s CoverDraft service after 30 days. This protection covers up to $100 or $250 in charges that would overwise overdraft your account. Some purchases, including Zelle transfers, or ATM withdrawals, may be declined if they would put your account into overdraft.
Ally has no monthly maintenance fee, no overdraft fees, no ATM fee for in-network ATM transactions and no minimum balance requirement.
5. Best for Referrals to Earn Extra Cash: GO2bank
GO2bank, the digital bank associated with the top financial technology company Green Dot, offers an easy, straightforward money account with overdraft protection up to $200 with eligible direct deposits. The linked savings account pays a high 4.5% APY, with no fees for qualifying customers and no minimum balance requirement.
You can get regular ACH deposits from your job or side gigs up to two days earlier than most traditional banks. If you receive government benefits, such as Social Security, you can receive those deposits up to four days early.
Your GO2bank account will have a monthly service fee that costs $5 per month, unless you have a qualifying direct deposit that month. You will also pay fees for transfers from a linked debit card from another bank or fintech, mobile check deposits, and cash deposits.
If you are the type of person with friends who come to you for advice, you can earn $50 for each friend you refer to GO2bank who signs up with direct deposit. Your friend will also earn $50. You can use this offer for up to 30 friends, yielding $1,500 annually. This makes a GO2bank account great for social media influencers or college students with a large friend group.
6. Best for Full-Service Banking: Bank of America Advantage SafeBalance Banking
Bank of America Advantage checking accounts offer options for people in various stages of their financial life. College students might be best to start out with Bank of America Advantage SafeBalance banking, a straightforward money account with no overdraft fee and no checks.
The account has no monthly fee for students under the age of 25 or customers under the age of 18. Preferred Rewards customers also receive free checking. There is a $25 minimum deposit to open an account.
New Bank of America customers can earn a $100 account opening bonus when they open an account and set up direct deposits of $1,000 or more within 90 days.
7. Best for Comprehensive Money Management: PNC Virtual Wallet Student
Money Magazine named the PNC Virtual Wallet on its best banks for students list three years running. PNC Bank divides this mobile account into three separate accounts for everyday spending, “reserve,” or short-term savings, and “growth” for long-term savings.
The account has no monthly service fee for students for up to six years, along with all the benefits of a regular PNC Virtual Wallet. Additionally, students receive a courtesy refund of your first overdraft fee on your Spend account, one free incoming domestic or international wire transfer per statement period, and free paper statements if you opt in to receive them.
Once six years have passed or you are no longer a student, your account converts into a regular PNC Virtual Wallet, which may have associated monthly fees. Check the PNC website at that time to determine the fees and how you can waive them.
Your PNC Virtual Student Wallet pays a 0.01% APY on money in your Reserve account, and .02% on account balances up to $2,499 in your Growth account, with .03% APY on balances over $2,500. These may not be the best rates available, but the reputation of PNC Bank, along with the money management features in a Virtual Wallet Student account, make this an account worth considering for students just learning to budget.
8. Best for Establishing Savings Habits.: Wells Fargo Clear Access Banking
As one of the Big Four banks in the U.S., Wells Fargo offers a reliable and safe place to store your money, plus access to thousands of branches nationwide.
The Wells Fargo Clear Access banking account is great for teens and college students, since it’s available for account holders ages 13 to 24. Anyone under the age of 18 will need to open their account in a branch and anyone younger than 17 must have an adult aged 18+ as a joint account holder. The account has no monthly maintenance fee for anyone 24 or younger. A $25 minimum opening deposit is required.
Wells Fargo Clear Access banking is a simple, straightforward money account with no checks and personalized service at Wells Fargo branches. There are no overdraft fees with the account, but also no overdraft protection. Transactions that exceed the account or minimum balance amount will be declined, which helps put teens and young adults in charge of their money.
You can link your Clear Access bank account to a Way2Save Savings account and earn a 0.15% APY. You can establish good money habits by setting up automatic savings. Wells Fargo will transfer $1 from your Clear Access account into your checking account each time you use online bill pay or use your debit card for a one-time purchase. You can also transfer as little as $25 per month or $1 per day into your account to see your savings grow even faster.
9. Best for Cash Back: Discover Cashback Debit
The Discover Cashback Debit account may not be marketed to teens and students, by name. But, it’s enticing to anyone looking for a standard checking account with no monthly service fees and 1% cashback on debit card purchases, up to $3,000 per month. It’s highly unlikely for most college students to max out that free money (unless they are putting housing, tuition, and car expenses on their card).
Discover Cashback! debit card offers many of the benefits you’d expect from these top-rated money accounts, including early direct deposit, 60,000+ no-fee ATMs, and overdraft protection from your linked Discover Savings with no fees. Discover charges no fees for insufficient funds, bank checks, regular checks, or expedited delivery of a replacement debit card.
These features make it one of the most convenient accounts you can hold. Plus, you don’t have to worry about “aging out” of the account and facing fees for a non-student bank account. Your Discover Cashback Debit account will be free no matter your age. Link it to a Discover Savings Account to earn 4.0% APY with no minimum deposit required.
10. Best for Unlimited Out-of-Network ATM Fee Reimbursement – Axos Bank Rewards Checking
Another bank account not marketed to students but meeting all their needs is the Axos Bank Rewards Checking account. This account has no monthly fees. It also reimburses ATM fees for out-of-network ATMs nationwide, which is great for students who travel domestically or who don’t have ATMs in their network on campus.
Pay no overdraft fee or non-sufficient funds fees with this account. Best of all, earn an APY of 0.40% on your checking balance if you receive monthly direct deposits of $1,500-plus. Young investors can ramp up their interest rate by 1% with an average daily balance of $2,500 in an Axos Invest Managed Portfolio Account, plus another 1% by holding $2,500 in a self-directed trading account. If you take out a loan through Axos, you can add another 0.60% to your APY.
College students likely won’t regret opening an Axos Bank account to take them through adulthood, especially with options for investing, low mortgage rates, car loans, and more.
Plus, earn a welcome bonus when you open an account and have direct deposits of at least $1,500 within a single calendar month during the first three months of account opening.
11. Best Credit Union: Alliant Credit Union Teen Checking
Alliant Credit Union offers a teen checking account for minors ages 13 to 17. The account is insured up to $250,000 per account holder by the National Credit Union Administration (NCUA). The adult account holder must be an Alliant Credit Union member. But it’s easy to join by depositing $5 into an Alliant Credit Union saving account. Alliant Savings earns an APY of 0.25%.
The teen checking account has no overdraft fees or non-sufficient funds fee. It also has no monthly fees or minimum balance requirements. Account holders gain access to 80,000+ fee free ATMs nationwide plus $20 per month in ATM fee reimbursement for out-of-network ATM use. This is an interest earning checking account which also pays 0.25% APY on all balances as long as you have at least one deposit, via ACH direct deposit, mobile check deposit, or transfer from another bank or credit union, each month.
12. Best for Young Shoppers: Varo Bank
Varo Bank is another account not necessarily marketed to college students but definitely optimized for their needs. The Varo Bank debit card delivers up to 6% cash back, with money deposited into your Varo account as soon as you accrue $5 in rewards.
Like many of the best student accounts on this list, Varo has no monthly fee, no minimum balance requirements, and no overdraft fee. If you need money before payday, you can use Varo Advance, an interest-fee program that allows you to borrow up to $250 and pay it back within 30 days. You will not pay fees to borrow less than $20. Borrowing up to $250 comes with fees that can be as high as $15, depending on the amount of cash advance you need.
Varo Bank uses the Allpoint network of ATMs, with fee free access to 55,000+ ATMs nationwide. Using other bank ATMs could result in charges up to $3 from Varo and fees charged by the other banks, as well.
It pays to open a linked Varo Bank savings to take advantage of a high 3% APY. Account holders with direct deposits equal to $1,000 per month and a positive balance in their Varo checking and savings can earn up to 4% APY.
One of the best things about a Varo account is it can grow with you. You won’t pay additional fees as an adult out of college, so you can keep the same bank account you started with for your entire life if you want.
Methodology: How We Select the Best Student Checking Accounts
To find the best student checking accounts, we evaluated the monthly maintenance fees, ATM fees, minimum deposit requirements, features, benefits, banking services provided, along with customer service and mobile app access at several of the biggest and most well-known banks and credit unions.
ATM Network
Most banks have ATM networks or partner ATM networks of 20,000 or more ATMs nationwide where you can use your debit card with no ATM fees. You might be surprised to learn that even online banks and financial technology companies that are not a bank provide access to thousands of ATMs nationwide through partner programs.
Nationwide availability (physical locations or mobile access)
College students often split time between their college campus and the home where they grew up. Finding a bank with physical locations in the areas they live or an online bank that provides a mobile banking app with fee free mobile banking from anywhere is important.
Fees and minimum requirements
Bank fees no longer have to be a way of life for today’s young adults. We chose financial institutions with no monthly maintenance fees or easy ways to waive maintenance fees.
Benefits such as high APY, cash-back rewards, or other additional perks
Student checking accounts today are more than just “bare bones” places to store your cash. Many student bank accounts offer perks, benefits, and high-yield savings or an interest bearing checking account to provide added value.
Overdraft fees
Cash management mistakes happen, especially when young adults first start learning to budget and manage their finances. Many banks have no overdraft fees and some offer overdraft protection to help out in a pinch.
How to Choose the Best Bank for College Students
We’ve offered 12 solid options to help you choose the best student checking account. Before you open a student bank account, it’s a good idea to think about what you need in your primary checking account and a linked savings.
The list below makes it easy to review your must-haves and nice-to-haves when you choose your first bank account as a college student.
Best student checking account interest rates
If you’re looking to earn interest on your standard checking account, many banks offer this feature. Review annual percentage yield (APY) figures for your top choices.
Remember, a higher savings interest rate might benefit you more, since money in your checking account tends to fluctuate based on paychecks, bills, and expenses. The best checking account may not pay interest, but can save you money in other ways.
Annual Percentage Yield (APY)
Likewise, you can put money in your pocket with an account with linked savings offering a high annual percentage yield (APY).
Mobile Check Deposit
If you get paid via paper checks, you’ll want to find an account with a mobile app that offers mobile check deposit. Find out how fast deposits clear, and if mobile banking services are fee free.
No Monthly Maintenance Fees
Many banks today make it easy to find a free checking account with no maintenance fees. If you have to pay a monthly maintenance fee, find out exactly what you’re getting for your money. Find out if the perks and benefits, such as a cash back debit card or reimbursement of ATM fees make the maintenance fees worthwhile.
Minimum Deposit and Minimum Balance Requirements
When you’re just getting started, cash may be tight. It’s important to find an account with no minimum deposit to open.
Banking Services Provided
Accounts should have customer service online, by phone or in branches, plus an easy-to-use mobile app and a debit card with no ATM fees.
FAQs About Student Checking Accounts
Read what people are asking about the best student checking accounts, including minimum deposit requirements and benefits of a student checking account.
What are the benefits of a student bank account?
A bank account tailored for students gives young adults a head start on their financial future and learning how to manage money. For students who work, they can receive direct deposits in their student account, pay bills online, and send money to friends and family using Zelle.
How to get a student checking account bonus?
Several student checking accounts, including Chase, provide sign-up bonuses. Make sure to read the fine print and complete the requirements, which may include setting up direct deposit or making a minimum opening deposit, to collect the bonus.
Can I open a student checking account without a deposit?
To open a student checking account without a minimum deposit amount, simply look for a bank account, like Varo, that has no minimum opening deposit.
Are there any downsides to opening a student checking account?
When you open a student checking account, you’ll want to make sure you won’t pay monthly maintenance fees. Some student checking accounts convert to a regular account once the student graduates, and there may be fees associated with the regular account.
Is there an age limit on a student checking account?
Most student checking accounts are open to students from the age of 18 to 24 without a joint account holder. Customers under the age of 18 may be able to open an account with a joint owner.
Can minors open student checking accounts?
Accounts like Capital One Money Teen are available to children ages 8 and up with a joint account holder. Some other accounts require students to be 18 or older.
What happens to your student checking account when you graduate?
Many of the student bank accounts on this list won’t change when you graduate college. Others offer the option to convert your account to one of the bank’s regular checking products. A Chase College Checking Account has no monthly fees for your first five years in college, but if you graduate or exceed that time frame, you might pay a $6 monthly maintenance fee unless you meet other requirements.
From the daily walk of the Peabody Ducks to the annual Memphis in May World Championship Barbecue Cooking Contest, there are so many unique pieces that make up this Tennessee city.
Memphis is an affordable place to live for renters. The cost of living in Memphis is 13.1 percent lower than the national average, which makes the Home of the Blues more affordable, overall, than nearby cities like Nashville and Little Rock.
Given this lower cost of living, you’ll find plenty of great places to live in Memphis. But, the only way to know for sure is to break down your budget into pieces. Here’s how individual components, that make up the cost of living in Memphis, compare.
Housing costs in Memphis
Memphis housing is pretty reasonable all around. Rents aren’t too high, and housing prices are reasonable. Overall, housing prices in Memphis are 20.2 percent below the national average. This is on par with other Southern cities like Birmingham, though it’s slightly higher than places like Jackson, MS.
When it comes to rental prices, averages are reasonable whether they’re trending up or down. The average one-bedroom rent in Memphis is about $1,000 per month, down 4 percent from last year. For two-bedroom apartments, the average monthly rent is up by 4 percent but it’s still under $1,100 per month.
Home prices are down slightly over last year — the median sale price in Memphis is a reasonable $175,000. By comparison, the median sale price for a home in Nashville is about $465,000.
Finding the best apartment in Memphis
There are so many great Memphis neighborhoods to consider calling home that it may feel challenging to narrow things down. Price and location will play a big part, but it’s also the vibe of the community that can help solidify your choice.
The priciest spot for a one-bed is the up-and-coming arts district of Crosstown. Here the average monthly rent for just one bedroom is about $1,900. This area is a huge draw for young professionals, artists and musicians who join families who’ve called this neighborhood home for a long time.
Two other sought-after neighborhoods that provide a great location while catering to a more artsy crowd are Mud Island and South Main. They feature one-bedroom apartments for an average monthly rent of around $1,500 and $1,200, respectively.
Food costs in Memphis
Almost as big as the music scene, the food in Memphis is second-to-none. Of course, we’re talking Memphis barbecue with its slightly sweet and tangy sauce slathered on a nice rack of ribs in restaurants like The Rendezvous and Central BBQ. There are other signature eats in Memphis (check out Gibson’s Donuts), but nothing stacks up the “Q.”
As good as all the restaurant eats are though, locals can’t eat out all the time. Since groceries run 8.9 percent below the national average though, it’s pretty affordable to eat at home. Even at a tiny increase over last year, most items on your shopping list should remain pretty affordable. For example, expect to pay $1.06 per pound for store-made fried chicken and $1.97 for a dozen eggs. If you need a good side, potatoes average $3.73 per pound, making it affordable to whip together some homemade potato salad.
Utility costs in Memphis
The seasons can get rough in Memphis thanks to muggy summers and wet and windy winters, but overall temperatures aren’t too extreme. It still gets hot and cold at the right times of the year, but you won’t see a lot of snow.
This helps make utility costs a little more affordable on the whole, and 12.2 percent below the national average. Memphis actually has one of the lowest average utility costs in the state, with an average monthly electric bill is $141.05. Nashville is one of the only Tennessee cities that comes in lower, and it’s only by $2.31.
Transportation costs in Memphis
Although not an entirely walkable or bike-friendly city overall, Memphis’ best parts are often extremely walkable. Places around downtown, including Beale Street, are better seen on foot anyway.
Public transportation is also available in Memphis, primarily by bus via MATA. Operating 34 different lines, the adult base fare is $1 per way, and you’re able to purchase a daily fast pass for just $2. For downtown and riverfront access, MATA runs three trolley lines at just $1 per way.
Though it is possible to live in Memphis without a car, many residents own one to make it easier to road trip as well as get to the outer suburbs.
When it comes to city parking, locals can pick between meters and garages. The parking garages around town can range greatly in price, from as little as $4 to upward of $25. Meters have an hourly cost of $1.50.
All combined, transportation costs in Memphis are 6.9 percent below the national average, an increase of 4.2 percent over last year.
Healthcare costs in Memphis
Budgeting for healthcare as a part of your cost of living in Memphis is challenging. Not only is everyone’s medical situation different, but things can change from month to month. Having insurance helps, but it’s also worthwhile to know what average costs are like without it.
In Memphis, healthcare costs are 9.4 percent below the national average. This is pretty close to normal when compared to other cities in Tennessee and pretty close to cities, like Birmingham, in neighboring states.
This average keeps doctor’s visits in a pretty reasonable range, assuming you don’t have insurance to pay the costs. Expect to pay an average of $99.72 per doctor’s visit, $78.60 to see the eye doctor and $105.40 for a trip to the dentist. When it comes to prescription medications, the average cost (without insurance) in Memphis is $465.99.
Goods and services costs in Memphis
Not all the pieces that make up the cost of living in Memphis are functional and necessary. You also have to put a little fun into the budget, and that’s where goods and services come in. They’re the thing you enjoy doing, you want to do, but if you ever needed to cut back, could do without.
Goods and services are what make a night out on Beale Street possible, among other fun activities. In Memphis, the overall cost of goods and services, lumped together, is 10.1 percent below the national average. That could mean more money in the budget for fun, as long as you don’t have too much.
How does this impact your favorite to-do’s? Well, in Memphis, a six-pack of beer averages out at $9.77, a movie ticket is $13.08, that pizza you’re craving is $10.73 and a haircut before that big night out is $18. Prices coincide with other cities in Tennessee, sometimes being a little bit more or a little bit less, but always relatively close.
Taxes in Memphis
The state sales tax in Tennessee is 7 percent, but each individual county and city can add on additional taxes. That said, you’ll pay 9.75 percent in sales tax in Memphis, the highest total rate in the state (and the most common.)
To think about this rate in dollar amounts, for every $1,000 you spend shopping for clothes, or buying furniture for your new apartment, $97.50 goes straight to taxes.
How much do I need to earn to live in Memphis
Even with a better understanding of the cost of living in Memphis, it’s hard to really know how much you need to earn to live in this fun city. A good place to start digging into your budget though is with rent.
Most experts agree you should spend about 30 percent of your annual income on rent, so to afford that average one-bedroom price of $1,000, you’d need a yearly salary of about $40,000.
Is this easy to find in Memphis? Well, given that the median household income is slightly higher at $41,864, your chances look good. To get the numbers exact though, check out our rent calculator.
Living in Memphis
Life in Memphis is not only affordable for many, but also fun. Memphis is a city full of things to do, with decent weather and a vibrant cultural scene. Its deep musical roots and delectable food are simply the icing on the cake for this great place. With so much to explore, deciding to live in Memphis is most likely going to be an easy decision.
The Cost of Living Index comes from coli.org.
The rent information included in this summary is based on a calculation of multifamily rental property inventory on Rent. as of November 2022.
Rent prices are for illustrative purposes only. This information does not constitute a pricing guarantee or financial advice related to the rental market.
Infidelity is always devastating. But if your spouse or partner has been cheating on you by hiding pricey vices or illicit spending sprees, the consequences can be far worse than an affair, for the simple reason that money — often large sums of money — are involved.
As one reader wrote to us, after a similar article ran on on DailyWorth:
My ex took out a credit card in my name and ran up $40,000 debt without my knowledge. Now I’m paying it off. I asked the credit card company to investigate the matter as fraud, but they didn’t. It doesn’t seem like I have many rights. As I found out, there were many secrets behind the numbers. Right now, I’m waiting for the divorce to come through.
Although incidents of identity theft and fraud are well-documented — and can be prosecuted — spouses who are the victims of their lying, cheating partners often have little recourse. As another woman wrote:
I just checked my credit report, and found out that my husband ran up $18,000 on one of our cards — when I thought we only owed $400. I confronted him, and he admitted it, but now what? He doesn’t have the money to pay it back.
To recover from financial infidelity, you need a two-pronged strategy. You need to shore up the non-financial side of your relationship and, at the same time, tackle the actual money mess.
The Mess
The first step is to find out where the money went and how much is owed, says credit expert Erica Sandberg, a columnist for Creditcards.com. Your credit report contains a list of all open accounts; ask your mate to show you all statements. In addition, your mate may have accounts opened in his or her name. These would show up only on their credit report, so ask them to come clean.
As you examine the statements, what you discover may be shocking. Your spouse wasn’t just deceiving you about debt; it’s likely that he or she was hiding habits (perhaps even vices) that cost a pretty penny.
To clean up the mess, you’ve got two main tasks:
Your mate’s secret spending has to stop (and the habit itself addressed).
The debt has to be repaid.
So, the second step is to make a debt repayment plan. While you may not feel that the debt is your problem, until it’s cleared up (or you split up, if that’s the case) it will affect you. First, have your mate sell any purchases they bought when they were cheating, and put that money toward the debt. Insist that they get a part-time job or work overtime.
Next, depending on the extent of what’s owed, credit counseling may be in order. (Two reliable sources for credit counseling are the National Foundation for Credit Counseling and the Association of Independent Consumer Credit Counseling Agencies.) At worst, you may need to consider bankruptcy.
Otherwise, create a budget, reduce spending, apply all excess funds to the debt, and stop charging until the balance is at zero!
The Marriage
As you address the financial problems, talk. Your partner’s financial infidelity is a red flag that you two are out of sync — and not just about money. Make time for regular discussions about the life you have and the life you want. As the great Russian writer and philosopher Leo Tolstoy once wrote, “What counts in making a happy marriage is not so much how compatible you are, but how you deal with incompatibility.”
Piggymojo is a new saving site, where couples can set a goal (in this case to save enough to pay down your debt), and find new ways to talk about money.
You may also want to seek professional help. Few relationships can survive this kind of strain without counseling. If you’re both invested in staying together, then it’s worth spending some money on a therapist who can help you, especially if gambling or other addiction issues are involved.
Lastly, if your spouse has committed financial infidelity, you may need to take a long hard look at your own money habits and head-in-the-sand behavior. As one reader described her sister’s loss of nearly $120,000 thanks to her husband’s secret gambling problem:
The moral is, you can’t afford to become a passenger in your own finances. Looking back, my sister said there were so many warning signs. But because her husband said he was taking care of the bills and expenses — and she believed him — she didn’t know what was really going on until it was too late.
Open a BMO Harris Premier™ Account online and get a $500 cash bonus when you have a total of at least $7,500 in qualifying direct deposits within the first 90 days of account opening. Expires 9/15. Conditions Apply.
The information related to the Chase United Business Card has been collected by Money Crashers and has not been reviewed or provided by the issuer of this card.
As a small-business owner, you’re leaving money on the table if you don’t use the credit card that offers the most valuable rewards and benefits available. And when you’re also a regular traveler, the right travel rewards card can give you tremendous value.
If you regularly fly with United but don’t have a massive business travel budget, the United Business Card might just be that card. Just be sure to understand its shortcomings before you apply.
What Is the United Business Card?
The United Business Card from Chase is the least expensive small-business credit card in United’s co-branded lineup, but it still packs plenty of compelling features.
As a new applicant, you start off with a very attractive sign-up bonus whose spend requirement should be manageable for most business owners. You also earn double miles not just on United Airlines purchases but also at restaurants, gas stations, office supply stores, and on local transit and commuting purchases.
This card also offers a wide range of benefits, even more than most airline cards in this price range. You start off with a free checked bag for yourself and a companion, as well as priority boarding. This card also features a $100 United travel credit after qualifying flight purchases, and 5,000 bonus miles each year when you have both a United personal and a business card.
If you’re trying to earn elite status, this card speeds up the process by giving you 500 Premier Qualifying Miles (PQP) for every $12,000 you spend on purchases with your card, up to 1,000 PQP in a calendar year. And when you’re waiting for your flight to depart, you can relax by using one of your two United Club one-time passes each year. You even get 25% off of in-flight purchases each year, plus expanded access to economy class award seats at the lowest mileage levels.
Other cardmember benefits include auto rental collision damage waiver coverage, baggage delay insurance and lost luggage reimbursement of up to $3,000 per passenger. If you have to cut short or cancel a trip, then you can be reimbursed up to $1,500 per person and $6,000 per trip for your pre-paid, non-refundable passenger fares. If your travel is delayed by more than 12 hours, or overnight, then you can be reimbursed for meals and lodging, up to $500 per ticket.
Finally, you also receive purchase protection and extended warranty policies on certain nontravel purchases.
There’s a $95 annual fee for this card that’s waived in the first year. This card charges no foreign transaction fees either.
What Sets the United Business Card Apart?
This card has several features that help it distinguish itself from other airline credit cards.
5,000 mile anniversary bonus. If you already have a personal United credit card, such as the United Explorer Card or United Club Card, this card gives you 5,000 bonus miles each year on your account anniversary.
$100 United travel credit. After you make seven qualifying flight purchases of $100 or more, United will give you a $100 credit.
Outstanding travel insurance benefits. At a time when many card issuers have eliminated all of the travel insurance policies that used to be standard, the United Business Card still has you covered for most kinds of problems.
United Club access. You get two free United Club (airport lounge) passes a year. That’s not much if you fly United every month. But if you don’t travel with United very often, this could be enough to use during an occasional long layover or delay.
Waived first year’s annual fee. By waiving the $95 fee in the first year, United and Chase are effectively saying, “Give this card a try at no cost to you.”
Key Features of the United Business Card
The United Business Card has a strong sign-up bonus, a relatively generous rewards program, and plenty of perks for regular United flyers.
Sign-Up Bonus
Earn 50,000 bonus miles after you spend $5,000 on purchases in the first 3 months your account is open. This offer might not be available if you’ve received a new cardmember bonus for the United Business Card in the past 24 months.
Earning Rewards
With this card, there are plenty of purchases that qualify for double miles:
United Airlines purchases
Dining purchases, including eligible delivery services
Gas station, office supply store, and local transit and commuting purchases
All other purchases earn 1 mile per $1 spent.
Redeeming Rewards
You can redeem your accumulated miles for award flights operated by United and its partners.
Exactly how much value you get from them is less clear. United no longer publishes an award chart, and in the past, it has changed redemption values without notifying anyone.
In general, you’ll need 80,000 to 100,000 miles for a one-way, business class ticket to Europe. You’ll need about half that if you travel in economy, and even fewer for economy flights within North America.
Valuable Travel Perks
Beyond rewards, travel perks and benefits are the real reason to have an airline card. These include:
A free checked bag for you and a companion
Priority boarding
25% back on United in-flight purchases
Earn 500 Premier Qualifying Points (PQPs) after spending $12,000 in a calendar year (up to 1,000 PQPs or $24,000 spent)
These perks come on top of numerous travel insurance and purchase protection policies:
$1,500 per person in trip cancellation/interruption insurance
$500 per person in trip delay reimbursement
An additional $3,000 in lost luggage coverage
Anniversary Award Flight Credits
You can also earn two 5,000 mile anniversary awards so long as you have both this card and a United personal card, such as the United Explorer Card.
Important Fees
This card has a $95 annual fee for this card that’s waived the first year, and no foreign transaction fees.
Credit Required
This card requires good or better credit to qualify. If your FICO score is much below 700, or your personal credit history is limited, then you’ll likely have trouble being approved. However, this is pretty standard for a premium business travel credit card.
Pros & Cons
The United Business Card has some clutch upsides and a few downsides worth noting.
Strong sign-up bonus
Surprisingly generous travel perks
United has lots of customer-friendly policies
United miles’ redemption value can be low
$100 annual flight credit comes with restrictions
2x miles category doesn’t cover everything
Pros
This card has lots of advantages, especially for regular United business travelers.
Strong sign-up bonus. Earning 75,000 miles after spending $5,000 on new purchases is a competitive bonus.
Generous travel perks. The $100 annual travel credit will outweigh the costs of this card’s annual fee, if you earn it. The 5,000 mile annual flight credit is also very valuable for anyone who also has a personal card. And it’s always nice to enjoy priority boarding, and a free checked bag for you and a companion.
Broad bonus categories. Many airline credit cards only offer 2x miles for ticket purchases, but this card also offers 2x at restaurants, gas stations, office supply stores and on local transit and commuting.
MileagePlus partners and policies. You can redeem your United miles for flights on its numerous Star Alliance and non-alliance partners. United also eliminated change and cancellation fees on awards, so you’re free to book a ticket when you find a good deal and cancel it later if it doesn’t work out.
Cons
This card has a lot going for it, especially at its price point. But it still has a few flaws:
United devalues its miles. United eliminated its award charts several years ago, which means that it can always charge more miles for awards whenever it feels like it. For example, United recently started charging up to 50% more miles for many of its award flights to Europe — without any prior notice. Transatlantic travelers were understandably upset by this. So don’t count on the price you see now being available when it comes time to redeem your miles.
Restrictions on its $100 annual flight credit. You have to read the fine print to find out that you only get it if you make seven transactions of $100 or more. You could split your round-trip tickets into one-ways for each traveler, but that’s a bit of a hassle.
No across-the-board 2x miles category. There are some travel rewards cards that now offer 2x everywhere. Offering 2x miles for only certain purchases is so 1995.
How the United Business Card Stacks Up
This card’s closest competitor is probably the CitiBusiness® / AAdvantage® Platinum Select® World Elite Mastercard®. Here’s how the two cards compare.
United Business Card
CitiBusiness® / AAdvantage®Platinum Select® World Elite Mastercard®
Annual Fee
$95, waived the first year
$99, waived the first year
Rewards Rate
Up to 2x
Up to 2x
Travel Insurance
Yes
No
Purchase Protections
Yes
No
Foreign Transaction Fee
None
None
Credit Needed
Good or better
Good or better
While these cards are pretty similar, the United Business Card has a slightly lower annual fee after the first year and offers some travel and purchase protections that the CitiBusiness / AAdvantage Platinum Select card doesn’t. Its 2x bonus categories are broader as well, and its frequent flyer benefits more generous. So all in all, it’s the better option unless you rarely fly United.
Final Word
The United Business Card is a strong offer for small business owners who fly United. It appeals to new applicants with an impressive sign-up bonus and a waiver on the first year’s annual fee. It then continues to offer value with double miles on many purchases, and numerous travel benefits.
The only place that you might stumble isn’t this card’s fault, exactly. When it comes time to redeem your miles, you might discover that United has devalued its miles — and that the award you were hoping to redeem now costs much more than it used to. But when you’re earning double miles on so many purchases, and enjoying so many benefits, this might not matter too much.
Editorial Note:
The editorial content on this page is not provided by any bank, credit card issuer, airline, or hotel chain, and has not been reviewed, approved, or otherwise endorsed by any of these entities. Opinions expressed here are the author’s alone, not those of the bank, credit card issuer, airline, or hotel chain, and have not been reviewed, approved, or otherwise endorsed by any of these entities.
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Jason Steele is one of the nation’s leading experts in credit cards and travel rewards since 2008. Jason is also the founder and producer of CardCon, which is The Conference for Credit Card Media. Jason lives in Denver, Colorado where he enjoys bicycling, snowboarding and piloting small airplanes.