What Can You Use Student Loans For?

To attend college these days, many students take out student loans. Otherwise, they wouldn’t be able to afford the hefty price tag of tuition and other expenses.

According to U.S. News & World Report, among the college graduates from the class of 2020 who took out student loans, the average amount borrowed was $29,927. In 2010, that number was $24,937 — a difference of about $5,000.

Student loans are meant to be used to pay for your education and related expenses so that you can earn a college degree. Even if you have access to student loan money, it doesn’t mean you should use it on general living expenses. By learning the answer to, “What can you use a student loan for?” you will make better use of your money and ensure you’re in a more stable financial situation post-graduation.

Recommended: I Didn’t Get Enough Financial Aid: Now What?

5 Things You Can Use Your Student Loans to Pay For

Here are five things you can spend your student loan funds on.

1. Your Tuition and Fees

Of course, the first thing your student loans are intended to cover is your college tuition and fees. The average college tuition and fees for a private institution in 2021-2022 is $38,185, while the average for a public, out-of-state school is $22,698 and $10,338 for a public, in-state institution.

2. Books and Supplies

Beyond tuition and fees, student loans can be used to purchase your textbooks and supplies, such as a laptop, notebooks and pens, and a backpack. Keep in mind that you may be able to save money by purchasing used textbooks online or at your campus bookstore. Hard copy textbooks cost, on average, between $80 and $150; you may be able to find used ones for a fraction of the price. Some students may find that renting textbooks may also be a cost-saving option.

Recommended: How to Pay for College Textbooks

3. Housing Costs

Your student loans can be used to pay for your housing costs, whether you live in a dormitory or off-campus. If you do live off-campus, you can also put your loans towards paying for related expenses like your utilities bill. Compare the costs of on-campus vs. off-campus housing, and consider getting a roommate to help you cover the costs of living off-campus.

4. Transportation

If you have a car on campus or you need to take public transportation to get to school, work, or your internships, then you can use your student loans to pay for those costs. Even if you have a car, you may want to consider leaving it at home when you go away to school, because gas, maintenance, and a parking pass could end up costing much more than using public transportation and your school’s shuttle, which should be free.

5. Food

What else can you use student loans for? Food would qualify as a valid expense, whether you’re cooking meals at home or you’ve signed up for a meal plan. This doesn’t mean you should eat out at fancy restaurants all the time just because the money is there. Instead, you could save by cooking at home, splitting food costs with a roommate, and asking if local establishments have discounts for college students.

Recommended: How to Get Out of Student Loan Debt: 6 Options

5 Things Your Student Loans Should Not Cover

Now that you know what student loans can be used for, you’re likely wondering what they should not be used for as well. Here are five expenses that cannot be covered with funds from your student loans.

1. Entertainment

While you love to do things like go to the movies and concerts and bowling, you should not use your student loans to pay for your entertainment. Your campus likely offers plenty of free and low-cost entertainment like sports games and movie nights, so pursue those opportunities instead.

2. A Vacation

College is draining, and you deserve a vacation from the stress every once in a while. However, if you can’t afford to go on spring break or another type of trip, then you should put it off at this time. It’s never a good idea to use your student loans to cover these expenses.

3. Gym Membership

You may have belonged to a gym at home before you went to college, and you still want to keep up your membership there. You can, as long as you don’t use your student loans to cover it. Many colleges and universities have a gym or fitness center on campus that is available to students and included in the cost of tuition.

4. A New Car

Even if you need a new car, student loans cannot be used to buy a new set of wheels. Consider taking public transportation instead of buying a modest used car when you save up enough money.

5. Extra Food Costs

While you and your roommates may love pizza, it’s not a good idea to use your student loan money to cover that cost. You also shouldn’t take your family out to eat or dine out too much with that borrowed money. Stick to eating at home or in the dining hall, and only going out to eat every once in a while with your own money.

Student Loan Spending Rules

The federal code that applies to the misuse of student loan money is clear. Any person who “knowingly and willfully” misapplied funds could face a fine or imprisonment.

Your student loan refund — what’s left after your scholarships, grants, and loans are applied toward tuition, campus housing, fees, and other direct charges — isn’t money that’s meant to be spent willy-nilly. It’s meant for education-related expenses.

The amount of financial aid a student receives is based largely on each academic institution’s calculated “cost of attendance,” which may include factors like your financial need and your Expected Family Contribution (EFC). Your cost of attendance minus your EFC generally helps determine how much need-based aid you’re eligible for. Eligibility for non-need-based financial aid is determined by subtracting all of the aid you’ve already received from your cost of attendance.

Starting for the 2024-2025 school year, the EFC will be replaced with the Student Aid Index (SAI). The SAI will work similarly to the EFC though there will be some important changes such as adjustments in Pell Grant eligibility.

Additionally, when you took out a student loan, you probably signed a promissory note that outlined what you’re supposed to be spending your loan money on. Those restrictions may vary depending on what kind of loan you received — federal or private, subsidized or unsubsidized. If the restrictions weren’t clear, it’s not a bad idea to ask your lender, “What can I use my student loan for?”

If you’re interested in adjusting loan terms or securing a new interest rate, you could consider refinancing your student loans with SoFi. Refinancing can allow qualifying borrowers to secure a lower interest rate or preferable terms, which could potentially save them money over the long run. Refinancing federal loans eliminates them from all federal borrower benefits and protections, inducing deferment options and the ability to pursue public service loan forgiveness, so it’s not the right choice for all borrowers.

The Takeaway

Student loans can be used to pay for qualifying educational expenses like tuition and fees, room and board, and supplies like books, pens, a laptop, and a backpack. Expenses like entertainment, vacations, cars, and fancy dinners cannot generally be paid for using student loans.

If you have student loans and are interested in securing a new — potentially lower — interest rate, consider refinancing.

There are no fees to refinance a student loan with SoFi and potential borrowers can find out if they pre-qualify, and at what rates, in just a few minutes.

Learn more about student loan refinancing with SoFi.


SoFi Student Loan Refinance
IF YOU ARE LOOKING TO REFINANCE FEDERAL STUDENT LOANS PLEASE BE AWARE OF RECENT LEGISLATIVE CHANGES THAT HAVE SUSPENDED ALL FEDERAL STUDENT LOAN PAYMENTS AND WAIVED INTEREST CHARGES ON FEDERALLY HELD LOANS UNTIL THE END OF JANUARY 2022 DUE TO COVID-19. PLEASE CAREFULLY CONSIDER THESE CHANGES BEFORE REFINANCING FEDERALLY HELD LOANS WITH SOFI, SINCE IN DOING SO YOU WILL NO LONGER QUALIFY FOR THE FEDERAL LOAN PAYMENT SUSPENSION, INTEREST WAIVER, OR ANY OTHER CURRENT OR FUTURE BENEFITS APPLICABLE TO FEDERAL LOANS. CLICK HERE FOR MORE INFORMATION.
Notice: SoFi refinance loans are private loans and do not have the same repayment options that the federal loan program offers such as Income-Driven Repayment plans, including Income-Contingent Repayment or PAYE. SoFi always recommends that you consult a qualified financial advisor to discuss what is best for your unique situation.

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Source: sofi.com

How to Get the Best Price on a Rental Car – 10 Simple Steps

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Dig Deeper

Additional Resources

Do you recognize this scenario? You’re planning to rent a small car for a vacation or business trip. Yet somehow, when you walk away from the car rental counter, you’re holding the keys to a much bigger car with a much bigger price tag. 

If this has happened to you, it was no accident. You were a victim of upselling — one of the many tricks car rental companies use to squeeze more money out of you. They lure you, scare you, or badger you into driving away with a bigger car than you planned. 

To save money on car rentals, you need to beat the agencies at their own game. First, do some research to figure out exactly what car you need. Then, shop around and use discounts to make sure you pay the lowest possible rate for it. 

How to Get the Best Price on a Rental Car

Getting the best rate on your car rental is largely a matter of doing your homework. You have to know what kind of car you need, when to book it, and where to shop for the best prices. You also need to know how to avoid tricky upsells and hidden fees.

1. Know What You Need

If you’ve ever rented a car before, you know rental companies often try to upsell you. When you arrive to pick up your vehicle, they don’t hand over the keys right away. 

Instead, they suggest you upgrade to a larger model than the one you booked. Often, they say it will offer more comfort, more power, or even better gas mileage. 

That last statement is unlikely to be true. In general, bigger cars use more gas than smaller ones. If you let the rental clerk talk you into a bigger model, you’ll end up paying more for gas and the car itself.

As for the extra room and extra power, they probably don’t matter. If you’re driving by yourself or with just one or two other people, a compact car should have enough space. And you’re unlikely to need more power unless you’re planning to drive up steep mountain roads or in deep snow.

If there’s any doubt in your mind about how much car you need, do some research before you book. Look for reviews of the model you’re considering and see what owners say about its comfort, mileage, and power. 

Then, when the clerk starts trying to sell you on a bigger model, you can say with confidence that the one you booked is just fine for your needs.

2. Book Early, Especially During Peak Travel Times

Car rental companies have a limited number of cars in their fleets. During peak travel times, every vehicle is in demand as customers flock to travel destinations. And when demand outstrips supply, prices go up. That’s simple economics.

So if you’re traveling during a busy travel season, reserve your car as far in advance as possible. You’ll avoid paying a premium for booking during the busy season or, worse still, finding the vehicle you want is unavailable.

3. Take Advantage of Discounts

Never pay full price for a rental car without checking for discounts first. There are all kinds of programs that can offer you a better price on a rental, including:

  • Military Discounts. Many car rental companies, including Alamo and Budget, offer discounts for military service members and veterans. Some also have special deals for other government employees or first responders, such as firefighters and police. If you belong to any of these groups, always ask about discounts when booking a rental.
  • USAA Rates. If your spouse or parent is in the military, you could get a discount through USAA. This financial provider serves active military members, veterans, and their spouses and children. Avis, Budget, Enterprise, and Hertz have special USAA rates. 
  • Senior Discounts. Several rental car agencies work with AARP to provide discounts for older adults. AARP members can save up to 30% at Avis, Budget, and Payless. And all travelers over 50 can get lower prices from Hertz through its Fifty Plus program.
  • Corporate Codes. Many businesses have partnerships with car rental companies. Their employees get better rates, and the agencies benefit from the extra business. Check your corporate travel site to see if your company has such a program. 
  • University Codes. Universities also cut deals with rental car agencies. Both students and alumni can get lower daily rates and other perks, such as a free additional driver. Check the student benefits or alumni deals page for rental car discounts.
  • Frequent Flyer Programs. Some frequent flyer programs can get you a reduced rate on a car rental. For instance, United MileagePlus members enjoy discounts and earn bonus miles when they rent through Hertz.
  • AAA. Being a member of AAA gets you discounts on all kinds of services, including rental cars. Currently, members can save between 8% and 20% off the base rate with Thrifty, Dollar, or Hertz. Check your local AAA website for the latest deals.
  • Costco. This warehouse club offers discounts on a lot more than groceries. One of the many benefits of Costco membership is its discounts on car rentals from Alamo, Avis, Budget, and Enterprise. Visit the Costco Travel site to access the latest exclusive deals.

4. Join a Loyalty Program

Many rental car agencies have loyalty programs that offer various discounts and perks. Most loyalty programs are free to join, and it takes only a few minutes to sign up.  

Joining one of these programs could get you benefits like:

  • Free upgrades
  • The ability to skip the line when you pick up your rental
  • A guarantee the car you sign up for will be available
  • An account that stores your rental preferences for future use
  • Rewards points you can cash in for free rentals or upgrades

And there’s nothing to stop you from signing up for multiple programs. You could join one for each rental agency you use. In fact, if you’ve already reached elite status with one company, you can usually carry over that status when you sign up for another agency’s program as well.

Some agencies, such as Avis and Hertz, also have special programs just for small-business owners. If you own a small business, these programs can give you a percentage off the base price every time you rent a car.

5. Compare Prices

Joining a loyalty program doesn’t mean you have to be loyal to one car rental company. It always makes sense to shop around and see if another company can offer a better price.

You could do that by calling several companies for quotes, but you don’t have to. There are several websites you can use to check rental prices across multiple agencies. 

One leading comparison site is AutoSlash. This free site factors in discounts from AAA and Costco and searches for online coupons to cut your rental price. It even notifies you if the rental rate drops after you book your car. That allows you to cancel it and rebook at the lower price.

However, AutoSlash isn’t the only site in the business. Other places to look for deals include CarRentals.com, Kayak, and Priceline.

6. Check Smaller Car Rental Companies

When you’re comparing prices, don’t limit yourself to the major rental car agencies. Small off-brand agencies such as Fox Rent A Car can offer significantly lower rates than the big companies.

These small agencies aren’t available everywhere, and they may not show up in results from sites like AutoSlash. But if there’s one in your area, it’s worth a call to see if they can beat the big companies’ prices. To find small local agencies, search the Internet for “car rental near me.”

7. Look for Coupon Codes

When you’re searching for rental car prices, do an extra search for coupon codes you can tack on at checkout. With the right code, you can save as much as 50% off the regular rental rate. 

On top of that, you can often combine these coupon codes with other discounts. For instance, they sometimes stack with savings from loyalty programs or frequent flyer programs.

If you shop through AutoSlash, it automatically seeks coupon codes for you. Other places to look for deals include Groupon and LivingSocial. Also, money-saving browser extensions like Capital One Shopping search for coupon codes and apply them every time you shop. 

8. Read the Fine Print

It’s not unusual to see online ads promising car rentals as low as $15 per day. These prices sound too good to be true — and they are. The price you pay is usually much higher due to taxes and fees excluded from the advertised rate. 

You can’t avoid all these extra fees. However, you can at least be aware of them to avoid any surprises. And you can always say no to extraneous car rental fees.

When comparing prices, look at the final price with all taxes and fees included. That way, you know you’re comparing apples to apples. 

9. Prepay

Most car rental companies offer two different daily rental rates: one for prepayment and a higher one for paying when you pick up the car (or simply renting on the spot). For instance, Budget charges rates up to 35% less when you pay ahead.

But despite the savings, prepaying isn’t always the smart move. If you prepay for your car and have to change your plans, you could get hit with a hefty cancellation fee. 

For instance, Alamo charges $50 for canceling a prepaid rental or $100 if you cancel with less than 24 hours’ notice. Canceling a regular reservation is only $50 with less than 24 hours’ notice and free if you cancel earlier than that. 

To avoid these fees, don’t prepay for your rental unless your travel schedule is fixed.

10. Use a Rewards Card

Once you’ve decided which car to rent and where, there’s still one more way to save: by choosing the right card to pay with. Many travel rewards credit cards, such as Chase Sapphire Reserve, offer special perks and discounts on car rentals. 

Depending on the card, you could pay a lower daily or weekly rate or earn extra rewards points. You could also get perks like free upgrades, free rental car insurance, a free additional driver, or a grace period on late returns.

Moreover, if you already have rewards points on one of these cards, you can sometimes get a bonus by cashing them in for travel deals, including car rentals. If your card offers a 50% bonus on travel, you could book a $30-per-day car rental with only $20 worth of rewards.


Final Word

There’s one tip that could potentially save you more than anything else. When planning your trip, think carefully about whether you need a rental car at all. 

In some cases, you can get by without a car. Instead, you can rely on a combination of rides from friends, public transportation, and ridesharing. 

That works particularly well if you only need the vehicle to get to and from the airport. In that case, paying by the ride is probably cheaper than renting a car that will spend most of the trip parked.

Another option is to take advantage of the sharing economy. It’s often possible to get a car through a peer-to-peer service like Turo for much less than a traditional rental. 

These services can offer access to vehicles rental agencies don’t have, such as sports cars or electric vehicles. And you don’t have to deal with any high-pressure sales tactics at the rental counter.

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Source: moneycrashers.com

Fixed Expense vs Variable Expense

Budgeting is the best way to get a better handle on where your money is going — which can help you get a better handle on where you’d like to see your money go.

But before you dive into the nitty-gritty of each individual line item on your ledger, you first need to understand the difference between fixed expenses and variable expenses.

As their name suggests, fixed expenses are those that are fixed, or unchanging, each month, while variable expenses are the ones with which you can expect a little more wiggle room. However, it’s possible to make cuts on items in both the fixed and variable expense category to save money toward bigger financial goals, whether that’s an epic vacation or your eventual retirement.

Let’s take a closer look.

What Is a Fixed Expense?

Fixed expenses are those costs that you pay in the same amount each month — items like your rent or mortgage payment, insurance premiums, and your gym membership. It’s all the stuff whose amounts you know ahead of time, and which don’t change.

Fixed expenses tend to make up a large percentage of a monthly budget since housing costs, typically the largest part of a household budget, are generally fixed expenses. This means that fixed expenses present a great opportunity for saving large amounts of money on a recurring basis if you can find ways to reduce their costs, though cutting costs on fixed expenses may require bigger life changes, like moving to a different apartment — or even a different city.

Keep in mind, too, that not all fixed expenses are necessities — or big budget line items. For example, an online TV streaming service subscription, which is withdrawn in the same amount every month, is a fixed expense, but it’s also a want as opposed to a need. Subscription services can seem affordable until they start accumulating and perhaps become unaffordable.

Recommended: Are Monthly Subscriptions Ruining Your Budget?

What Is a Variable Expense?

Variable expenses, on the other hand, are those whose amounts can vary each month, depending on factors like your personal choices and behaviors as well as external circumstances like the weather.
For example, in areas with cold winters, electricity or gas bills are likely to increase during the winter months because it takes more energy to keep a house comfortably warm. Grocery costs are also variable expenses since the amount you spend on groceries can vary considerably depending on what kind of items you purchase and how much you eat.

You’ll notice, though, that both of these examples of variable costs are still necessary expenses — basic utility costs and food. The amount of money you spend on other nonessential line items, like fashion or restaurant meals, is also a variable expense. In either case, variable simply means that it’s an expense that fluctuates on a month-to-month basis, as opposed to a fixed-cost bill you expect to see in the same amount each month.

To review:

•   Fixed expenses are those that cost the same amount each month, like rent or mortgage payments, insurance premiums, and subscription services.

•   Variable expenses are those that fluctuate on a month-to-month basis, like groceries, utilities, restaurant meals, and movie theater tickets.

•   Both fixed and variable utilities can be either wants or needs — you can have fixed-expense wants, like a gym membership, and variable-expense needs, like groceries.

When budgeting, it’s possible to make cuts on both fixed and variable expenses.

Recommended: Grocery Shopping on a Budget

Benefits of Saving Money on Fixed Expenses

If you’re trying to find ways to stash some cash, finding places in your budget to make cuts is a big key. And while you can make cuts on both fixed and variable expenses, lowering your fixed expenses can pack a hefty punch, since these tend to be big line items — and since the savings automatically replicate themselves each month when that bill comes due again. (Even businesses calculate the ratio of their fixed expenses to their variable expense, for this reason, yielding a measure known as operating leverage.)

Think about it this way: if you quit your morning latte habit (a variable expense), you might save a grand total of $150 over the course of a month — not too shabby, considering its just coffee. But if you recruit a roommate or move to a less trendy neighborhood, you might slash your rent (a fixed expense) in half. Those are big savings, and savings you don’t have to think about once you’ve made the adjustment: they just automatically rack up each month.

Other ways to save money on your fixed expenses include refinancing your car (or other debt) to see if you can qualify for a lower payment… or foregoing a car entirely in favor of a bicycle if your commute allows it. Can you pare down on those multiple streaming subscriptions or hit the road for a run instead of patronizing a gym? Even small savings can add up over time when they’re consistent and effort-free — it’s like automatic savings.

Of course, orchestrating it in the first place does take effort (and sometimes considerable effort, at that — pretty much no one names moving as their favorite activity). The benefits you might reap thereafter can make it all worthwhile, though.

Saving Money on Variable Expenses

Of course, as valuable as it is to make cuts to fixed expenses, saving money on variable expenses is still useful — and depending on your habits, it could be fairly easy to make significant slashes. For example, by adjusting your grocery shopping behaviors and aiming at fresh, bulk ingredients over-packaged convenience foods, you might decrease your monthly food bill. You could even get really serious and spend a few hours each weekend scoping out the weekly flyer for sales.

If you have a spendy habit like eating out regularly or shopping for clothes frequently, it can also be possible to find places to make cuts in your variable expenses. You can also find frugal alternatives for your favorite spendy activities, whether that means DIYing your biweekly manicure to learning to whip up that gourmet pizza at home. (Or maybe you’ll find a way to save enough on fixed expenses that you won’t have to worry as much about these habits!)

The Takeaway

Fixed expenses are those costs that are in the same amount each month, whereas variable expenses can vary. Both can be trimmed if you’re trying to save money in your budget, but cutting from fixed expenses can yield bigger savings for less ongoing effort.

Great budgeting starts with a great money management platform — and a SoFi Money® cash management account can give you a bird’s-eye view that puts everything into perspective. You’ll also have access to the Vaults feature, which helps you set aside money for specific savings purposes, no matter which goals are the most important to you, all in one account.

Check out SoFi Money and how it can help you manage your financial goals.

Photo credit: iStock/LaylaBird


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Source: sofi.com

The Best Cities for Public Transportation

If you’re looking to have an easy commute or just want to spend less time in your car, these cities are great options for using public transportation.

According to the American Public Transportation Association (APTA), Americans board public transportation 34 million times. Every. Single. Weekday.

That adds up to a whopping 9.9 billion trips per year. And why not? Beyond the obvious savings of traveling by bus, train, trolley or metro — both financial and environmental — leaving the driving to someone else allows you to kick back and text, read, work, or snooze to your heart’s content. And let’s be honest, road rage is for suckers.

If you’re one of us in-the-know commuters, you’re going to want to check out our list of the best cities in America for public transportation.

Takeaways about the best cities for public transportation

You’re used to looking at route maps, right? Yeah, we know. This is why we created this interactive map to highlight the top 150 cities for public transportation. Can you guess which cities made our top 10? You’re probably not too far off.

Dashboard 1
  • The Northeast region has the strongest representation among our top 10.
  • The No. 1 city boasts a whopping 1,148 stations across the city.
  • Providence, RI has the lowest price for a monthly unlimited pass.

These are the 10 best cities for public transportation

The best cities for public transportation are mostly urban centers with fantastic infrastructure. So, don’t expect to see a “city” like Des Moines make the cut.

And while the East Coast may have the slightest overall edge, you’ll find at least a couple of cities in every major region of the country represented here. Read on to find out which U.S. cities are the best for public transportation.

10. Minneapolis, MN

minneapolis mn

minneapolis mn

Minneapolis is serious about keeping its citizens warm and comfortable. Take, for example, the Minneapolis Skyway, a 9.5-mile network of enclosed heated walkways. And while that makes traveling on foot a breeze — even in the dead of winter — sometimes, you need to travel farther than your own two feet will take you.

And for those trips, there’s the METRO light-rail, along with 18 bus lines to choose from, including fare-free “Free Ride” buses you can hop on along Nicollet Mall.

Even for the rides that aren’t free, your public transportation budget will go far in Minneapolis — the second cheapest city in our top 10 for transport (monthly unlimited).

Think living in this half of the Twin Cities is your speed? Get the scoop on the best neighborhoods in Minneapolis, find an apartment and stock up on some serious winter wear.

9. Miami, FL

miami fl

miami fl

Is Minneapolis too chilly (OK, frigid) for your taste? Perhaps you should consider the opposite tip of the country. Down in Miami, the vibe is endless sunshine and permanent vacation mode. And while traffic is no joke (understatement), public transportation is a stress-free way to get around the city.

First, you’ve got the charming free trolleys, which come every 15 minutes. If no-charge sounds pretty good, you’ll also love the Metromover, which you can pick up in Brickell or Downtown. Trying to get down to Coral Gables, Coconut Grove or South Miami? Hop on the Metrorail. And for getting around Miami Beach, the bus is your best option. Get up to speed on everything you need to know about living in Miami and start searching for your South Florida apartment.

8. Philadelphia, PA

philadelphia pa

philadelphia pa

Living in Philly gives you all the East Coast arts, culture, education and sports you can handle — without the N.Y.C. price tag. You get a lot more bang for your buck in Philadelphia, and you’ll still find a public transportation system that rivals that of the Big Apple.

The Southeast Pennsylvania Transportation Authority (SEPTA) is the country’s sixth-largest public transit system. More than 1.3 million people ride SEPTA’s train, subway, trolley and bus lines every day. The extensive system makes it simple and convenient to explore all that both Philadelphia and the surrounding areas have to offer.

7. Providence, RI

providence rhode island

providence rhode island

If you live in Providence, you’ll enjoy the cheapest price for a monthly unlimited travel pass among our top 10. The capital of our nation’s smallest state is home to Brown University and the Rhode Island School of Design. Getting around town is a breeze for co-eds, commuters and everyone in-between.

The Rhode Island Public Transit Authority (RIPTA) provides low-cost bus and trolley services around the city. In the summer, there are even routes to the beach. Better yet, all of the buses have bike racks so you can explore Rhode Island on two wheels. And if you want to really soak up the scenery, take the hour-long ferry ride from Providence to Newport.

Plus, Providence is a stop on one of the Massachusetts Bay Transportation Authority’s (MBTA) commuter rail lines, so you can get to Boston in just over an hour.

6. Seattle, WA

seattle wa

seattle wa

Have you ever gazed out over the Puget Sound at the majestic Cascade Mountains on one of those magical sunny days in Seattle? It’s the kind of scene you don’t soon forget. And while those sunny days are somewhat rare, there’s a lot to love about living in Seattle, from the coffee culture to the ease of getting around on the fantastic public transportation system.

Grab an ORCA card and hop on the city’s easy-to-navigate streetcars, light rail and busses. Not only are there ferries from which to soak up those amazing views, but Seattle also boasts a monorail. Considering a move to Emerald City? Scope out the best neighborhoods in Seattle, then start searching for a place to live.

5. Chicago, IL

chicago il

chicago il

Even if you’ve never ridden it before, you’ve probably heard of “the L.” Short for “elevated train,” locals and visitors alike love the L because it’s both cheap and easy to use. And here in a city with two airports, easy public transportation is key.

Take the L’s Blue Line to O’Hare International Airport (ORD) or the Orange Line to get to Chicago Midway International Airport (MDW). The Chicago Transit Authority also has an extensive bus system, while the Metra regional train system will take you through downtown Chicago and to the suburbs and cities beyond. Whether you’re looking to live large in a luxury apartment building, or you’re looking for a budget-conscious ‘hood, you’ll find a wide range of apartments in Chicago.

4. San Francisco, CA

san francisco ca

san francisco ca

Here’s the thing about living in San Francisco. As far as cities go, it’s fairly compact, so nothing is too far away. Which makes it seem like you’ll probably be fine on foot. But there’s one huge consideration — the hills. Depending on how big your calf muscles are, and how hard you want them to work, you’re going to need to lean on public transportation at some point to cruise you up those inclines.

Fortunately, you can travel in style on the city’s iconic trolleys. Or, take the BART (Bay Area Rapid Transit), a rail system that will take you all around the Bay Area. If you’re staying in the city, MUNI has you covered with an extensive network of trains, buses and cable cars. If there’s one place you don’t need a car, it’s San Francisco. Plus, the city is expensive enough without paying for your own set of wheels.

3. Washington, D.C.

washington dc

washington dc

OK, let’s start with the bad news: Washington, D.C. is the third-most congested city in the country. Boo. But that’s exactly why you don’t want a car here, or really need one for that matter. The best way to escape road rage? On the subway. The Metrorail is the most efficient way to get around Washington, D.C. There’s also the Metrobus and the D.C. Circulator if you want to brave the roads — and prefer your public transportation with a bit of natural sunlight.

And since there are so many sights to see, even locals can appreciate the more tourist-oriented modes of transportation. Spend a sunny day on a boat ride across the Potomac, or hop on one of D.C.’s trolley tours to soak up the sights without stress. Fancy living in the nation’s capital? Take a quiz to find out which Washington, D.C., neighborhood is best for you.

2. Boston, MA

boston ma

boston ma

Beantown is an excellent city to traverse on foot. And when you’re not walking, you’re going to want to hop on the “T.” More formally known as the Massachusetts Bay Transportation Authority (MBTA), the five-line system has subways, trains, buses and trolleys that connect you to all of downtown Boston’s neighborhoods.

And who doesn’t love water taxis? Cruise across Boston Harbor on a boat and pat yourself on the back for avoiding some of the country’s worst traffic. Warming up to the idea of an East Coast move? Get up to speed on the cost of living in Boston, then find your perfect Boston apartment.

1. New York, NY

new york ny

new york ny

No surprise here, right? New York has long been the best city for public transportation in America. Of course, there are the iconic yellow taxis, but you simply can’t get much more connected than New York’s subway system. This impressive 24-hour network goes well beyond the city to shuttle commuters to both Long Island and New Jersey. With 1,148 train stations and 1,224 station lines, New York is untouchable when it comes to public transportation.

Having a car in N.Y.C. is not only near impossible (financially and otherwise), it’s simply not necessary. Put all of the energy you save in navigating the roads into your New York apartment search. It’s no secret that the Big Apple requires a big budget, and finding an affordable apartment is going to take some research. Start by figuring out which New York neighborhood is best for your lifestyle.

Methodology

To find the best cities for public transportation, we looked at metrics related to public transportation usage, accessibility and cost.

Features were normalized and then weighted based on the following scale:

Usage: 25 points

  • Percentage of public transportation users: 25 points

Accessibility: 50 points

  • Bus Lines per density: 10 points
  • Public transit stations per density: 10 points
  • Number of tracks: 10 points
  • Transit lines per density: 10 points
  • Number of transit systems: 10 points

Cost: 25 points

  • Price for a 30-day pass: 12.5 points
  • Percentage of pass cost related to local mean income: 12.5 points

Transit system info was from citylines.co. Transit cost was from ValuePenguin. Bus lines were from a database of 8 million commercially available business listings. These listings may not reflect recent changes to bus line availability. Usage is from the U.S. Census Bureau.

Rent prices are based on a rolling weighted average from Apartment Guide and Rent.com’s multifamily rental property inventory as of October 2021. Our team uses a weighted average formula that more accurately represents price availability for each unit type and reduces the influence of seasonality on rent prices in specific markets.

The rent information included in this article is used for illustrative purposes only. The data contained herein do not constitute financial advice or a pricing guarantee for any apartment.

Source: rent.com

12 Best Monthly Dividend Stocks and Funds to Buy for 2022

For all the changes we’ve experienced in recent years, some things remain regrettably the same. We all have bills to pay, and those bills generally come monthly. Whether it’s your mortgage, your car payment or even your regular phone and utility bills, you’re generally expected to pay every month.

While we’re in our working years, that’s not necessarily a problem, as paychecks generally come every two weeks. And even for those in retirement, Social Security and (if you’re lucky enough to have one) pension payments also come on a regular monthly schedule. But unfortunately, it doesn’t work that way in our investment portfolios. 

That’s where monthly dividend stocks come into play.

Dividend-paying stocks generally pay quarterly, and most bonds pay semiannually, or twice per year. This has a way of making portfolio income lumpy, as dividend and interest payments often come in clusters.

Well, monthly dividend stocks can help smooth out that income stream and better align your inflows with your outflows.

“We’d never recommend buying a stock purely because it has a monthly dividend,” says Rachel Klinger, president of McCann Wealth Strategies, an investment adviser based in State College, Pennsylvania. “But monthly dividend stocks can be a nice addition to a portfolio and can add a little regularity to an investor’s income stream.”

Today, we’re going to look at 12 of the best monthly dividend stocks and funds to buy as we get ready to start 2022. You’ll see some similarities across the selections as monthly dividend stocks tend to be concentrated in a small handful of sectors such as real estate investment trusts (REITs), closed-end funds (CEFs) and business development companies (BDCs). These sectors tend to be more income-focused than growth-focused and sport yields that are vastly higher than the market average.

But in a market where the yield on the S&P 500 is currently 1.25%, that’s certainly welcome. 

The list isn’t particularly diversified, so it doesn’t make a complete portfolio. In other words, you don’t want to overload your portfolio with monthly dividend stocks. But they do allow exposure to a handful of niche sectors that add some income stability, so take a look and see if any of these monthly payers align with your investment style.

Data is as of Nov. 21. Dividend yields are calculated by annualizing the most recent payout and dividing by the share price. Fund discount/premium to NAV and expense ratio provided by CEF Connect.

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Realty Income

7-11 store7-11 store
  • Market value: $40.1 billion
  • Dividend yield: 4.2%

Perhaps no stock in history has been more associated with monthly dividends than conservative triple-net retail REIT Realty Income (O, $70.91). The company went so far as to trademark the “The Monthly Dividend Company” as its official nickname.

Realty Income is a stock, of course, and its share price can be just as volatile as any other stock. But it’s still as close to a bond as you’re going to get in the stock market. It has stable recurring rental cash flows from its empire of more than 7,000 properties spread across roughly 650 tenants.

Realty Income focuses on high-traffic retail properties that are generally recession-proof and, perhaps more importantly, “Amazon.com-proof.” Perhaps no business is completely free of risk of competition from Amazon.com (AMZN) and other e-commerce titans, but Realty Income comes close. 

Its largest tenants include 7-Eleven, Walgreens Boots Alliance (WBA), FedEx (FDX) and Home Depot (HD), among others. The portfolio had relatively high exposure to gyms and movie theaters, which made the pandemic painful. But as the world gets closer to normal with every passing day, Realty Income’s COVID-19 risk gets reduced that much more.

At current prices, Realty Income yields about 4.2%. While that’s not a monster yield, remember that the 10-year Treasury yields only 1.6%. 

It’s not the raw yield we’re looking for here, but rather income consistency and growth. As of this writing, Realty Income has made 616 consecutive monthly dividend payments and has raised its dividend for 96 consecutive quarters – making it a proud member of the S&P 500 Dividend Aristocrats. Since going public in 1994, Realty Income has grown its dividend at a compound annual growth rate of 4.5%, well ahead of inflation.

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Stag Industrial

warehousewarehouse
  • Market value: $7.6 billion
  • Dividend yield: 3.4%

Realty Income was pretty darn close to “Amazon.com-proof.” But fellow monthly payer STAG Industrial (STAG, $42.77) proactively benefits from the rise of internet commerce.

STAG invests in logistics and light industrial properties. You know those gritty warehouse properties you might see near the airport with 18-wheelers constantly coming and going? That’s exactly the kind of property that STAG buys and holds.

It’s a foregone conclusion that e-commerce is growing by leaps and bounds, and STAG is positioned to profit from it. Approximately 40% of STAG’s portfolio handles e-commerce fulfillment or other activity, and Amazon.com is its largest tenant.

E-commerce spiked during the pandemic for obvious reasons. As stores have reopened, the effects of that spike have dissipated somewhat, but the trend here is clear. We’re making a larger percentage of our purchases online.

Yet there’s still plenty of room for growth. As crazy as this might sound, only about 15% of retail sales are made online, according to Statista. Furthermore, the logistical space is highly fragmented, and Stag’s management estimates the value of their market to be around $1 trillion. In other words, it’s unlikely STAG will be running out of opportunities any time soon.

STAG isn’t sexy. But it’s one of the best monthly dividend stocks to buy in 2022, with a long road of growth in front of it. And its 3.4% yield is competitive in this market.

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Gladstone Commercial

industrial parkindustrial park
  • Market value: $838.2 million
  • Dividend yield: 6.7%

For another gritty industrial play, consider the shares of Gladstone Commercial (GOOD, $22.49). Gladstone Commercial, like STAG, has a large portfolio of logistical and light industrial properties. Approximately 48% of its rental revenues come from industrial properties with another 48% coming from office properties. The remaining 4% is split between retail properties, at 3%, and medical offices at 1%.

It’s a diversified portfolio that has had little difficulty navigating the crazy volatility of the past few years. As of Sept. 30, 2021, the REIT had a portfolio of 127 properties spread across 27 states and leased to 109 distinct tenants. In management’s own words, “We have grown our portfolio 18% per year in a consistent, disciplined manner since our IPO in 2003. Our occupancy stands at 97.7% and has never dipped below 95.0%.”

That’s not a bad run.

Gladstone Commercial has also been one of the most consistent monthly dividend stocks, paying one uninterrupted since January 2005. GOOD currently yields an attractive 6.7%.

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EPR Properties

movie theater and tub of popcornmovie theater and tub of popcorn
  • Market value: $3.7 billion
  • Dividend yield: 6.1%

The COVID-19 pandemic was rough on a lot of landlords. But few were as uniquely battered as EPR Properties (EPR, $49.21). EPR owns a diverse and eclectic portfolio of movie theaters, amusement parks, ski parks, “eat and play” properties like Topgolf, and a host of others.

EPR specializes in experiences over things … which is just about the worst way to be positioned at a time when social distancing was the norm. Essentially every property EPR owned was closed for at least a time, and crowds still haven’t returned to pre-COVID levels across much of the portfolio.

But the key here is that the worst is long behind EPR Properties, and the more normal life becomes, the better the outlook for EPR’s tenants.

EPR was a consistent dividend payer and raiser pre-pandemic. But with its tenants facing an existential crisis, the REIT cut its dividend in 2020. With business conditions massively improving in 2021, EPR reinstated its monthly dividend in July, and the shares now yield an attractive 6.1%. If you believe in life after COVID, EPR is one of the best monthly dividend stocks to play it.

5 of 12

LTC Properties

senior living propertysenior living property
  • Market value: $1.3 billion
  • Dividend yield: 6.7%

For one final “traditional” REIT, consider the shares of LTC Properties (LTC, $34.24).

LTC faces some short-term headwinds due to the lingering effects of the pandemic, but its longer-term outlook is bright. LTC is a REIT with a portfolio roughly split equally between senior living properties and skilled nursing facilities.

Needless to say, COVID-19 was hard on this sector. Nursing homes were particularly susceptible to outbreaks, and nursing home residents were at particularly high risk given their age. 

Senior living properties are different in that the tenants are generally younger and live independently without medical care. But a lot of would-be tenants were reluctant to move out of their homes and into a more densely populated building during a raging pandemic. And many still are.

These lingering effects won’t disappear tomorrow. But ultimately, senior living facilities offer an attractive, active lifestyle for many seniors, and that hasn’t fundamentally changed. And home care might be a viable option for many seniors in need of skilled nursing. Ultimately there comes a point where there are few alternatives to the care of a nursing home.

Importantly, the longer-term demographic trends here are all but unstoppable. The peak of the Baby Boomer generation are in their early-to-mid-60s today, far too young to need long-term care. But over the course of the next two decades, demand will continue to build as more and more boomers age into the proper age bracket for these services.

At 6.7%, LTC is one of the higher-yielding monthly dividend stocks on this list.

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AGNC Investment

couple going over financials with mortgage brokercouple going over financials with mortgage broker
  • Market value: $8.4 billion
  • Dividend yield: 9.0%

AGNC Investment (AGNC, $15.98) is a REIT, strictly speaking, but it’s very different from the likes of Realty Income, STAG or any of the others covered on this list of monthly dividend stocks. Rather than own properties, AGNC owns a portfolio of mortgage securities. This gives it the same tax benefits of a REIT – no federal income taxes so long as the company distributes at least 90% of its net income as dividends – but a very different return profile.

Mortgage REITs (mREITs) are designed to be income vehicles with capital gains not really much of a priority. As such, they tend to be monster yielders. Case in point: AGNC yields 9%.

Say “AGNC” out loud. It sounds a lot like “agency,” right?

There’s a reason for that. AGNC invests exclusively in agency mortgage-backed securities, meaning bonds and other securities issued by Fannie Mae, Freddie Mac, Ginnie Mae or the Federal Home Loan Banks. This makes it one of the safest plays in this space.

And here’s a nice kicker: AGNC almost always trades at a premium to book value, which makes sense. You and I lack the capacity to replicate what AGNC does in house and lack access to financing on the same terms. Those benefits have value, which show up in a premium share price. Yet today, AGNC trades at a 9% discount to book value. That’s a fantastic price for the stock in this space.

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Dynex Capital

little house on chartlittle house on chart
  • Market value: $640.6 million
  • Dividend yield: 8.9%

Along the same lines, let’s take a look at Dynex Capital (DX, $17.47). Like AGNC, Dynex is a mortgage REIT, though its portfolio is a little more diverse. Approximately 85% of its portfolio is invested in agency residential mortgage-backed securities – bonds made out of the mortgages of ordinary Americans – but it also has exposure to commercial mortgage-backed securities and a small allocation to non-agency securities.

It’s important to remember that the mortgage REIT sector was eviscerated by the COVID-19 bear market. When the world first went under lockdown, it wasn’t immediately clear that millions of Americans would be able to continue paying their mortgages, which led investors to sell first and ask questions later. In the bloodbath that followed, many mortgage REITs took catastrophic losses and some failed altogether.

Dynex is one of the survivors. And frankly, any mortgage REIT that could survive the upheaval of 2020 is one that can likely survive the apocalypse. Your risk of ruin should be very modest here.

Dynex trades at a slight discount to book value and sports a juicy 8.9% yield. We could see some volatility in the space if the Fed ever gets around to raising rates, but for now this looks like one of the best monthly dividend stocks to buy if you’re looking to really pick up some yield.

8 of 12

Broadmark Realty

real estate contract with keys and penreal estate contract with keys and pen
  • Market value: $1.3 billion
  • Dividend yield: 8.6%

Broadmark Realty (BRMK, $9.75) isn’t a “mortgage REIT,” per se, as it doesn’t own mortgages or mortgage-backed securities. But it does something awfully similar. Broadmark manages a portfolio of deed of trust loans for the purpose of funding development or investment in real estate.

This is a little different than AGNC or Dynex. These mortgage REITs primarily trade standardized mortgage-backed securities. Broadmark instead deals with the less-liquid world of construction loans.

Still, BRMK runs a conservative book. The weighted average loan-to-value of its portfolio is a very modest 60%. In other words, Broadmark would lend no more than $60,000 for a property valued at $100,000. This gives the company a wide margin of error in the event of a default by a borrower.

At current prices, Broadmark yields an attractive 8.6%. The company initiated its monthly dividend in late 2019 and sailed through the pandemic with no major issues.  

9 of 12

Main Street Capital

person doing business on computerperson doing business on computer
  • Market value: $3.2 billion
  • Dividend yield: 5.5%

We know that the pandemic hit Main Street a lot harder than Wall Street. It is what it is.

But what about business development companies. This is where the proverbial Main Street means the proverbial Wall Street. BDCs provide debt and equity capital mostly to middle-market companies. These are entities that have gotten a little big to get financing from bank loans and retained earnings but aren’t quite big enough yet to warrant a stock or bond IPO. BDCs exist to bridge that gap.

The appropriately named Main Street Capital (MAIN, $46.61) is a best-in-class BDC based in Houston, Texas. The last two years were not particularly easy for Main Street’s portfolio companies, as many smaller firms were less able to navigate the lockdowns. But the company persevered, and its share price recently climbed above its pre-pandemic highs.

Main Street has a conservative monthly dividend model in that it pays a relatively modest monthly dividend, but then uses any excess earnings to issue special dividends twice per year. This keeps Main Street out of trouble and prevents it from suffering the embarrassment of a dividend cut in years where earnings might be temporarily depressed.

As far as monthly dividend stocks go, Main Street’s regular payout works out to a respectable 5.6%, and this does not include the special dividends.

10 of 12

Prospect Capital

man signing contractman signing contract
  • Market value: $3.5 billion
  • Dividend yield: 8.0%

For another high-yielding, monthly-paying BDC, consider the shares of Prospect Capital (PSEC, $8.97).

Like most BDCs, Prospect Capital provides debt and equity financing to middle-market companies. The company has been publicly traded since 2004, so it’s proven to be a survivor in what has been a wildly volatile two decades.

Prospect Capital is objectively cheap, as it trades at just 89% of book value. Book value itself can be somewhat subjective, of course. But the 11% gives us a good degree of wiggle room. It’s safe to say the company, even under conservative assumptions, is selling for less than the value of its underlying portfolio. It also yields a very healthy 8.0%.

As a general rule, insider buying is a good sign. When the management team is using their own money to buy shares, that shows a commitment to the company and an alignment of interests. Well, over the course of the past two years, the management team bought more than 29 million PSEC shares combined. These weren’t stock options or executive stock grants. These are shares that the insiders bought themselves in their brokerage accounts.

That’s commitment.

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Ecofin Sustainable and Social Impact Term Fund

Ecofin logoEcofin logo
  • Assets under management: $269.7 million
  • Distribution Rate: 6.0%*
  • Discount/premium to NAV: -14.3%
  • Expense ratio: 2.28%**

There’s something to be said for orphan stocks. There are certain stocks or funds that simply don’t have a “normal” go-to buying clientele.

As a case in point, consider the Ecofin Sustainable and Social Impact Term Fund (TEAF, $15.00). This is a fund that straddles the divide between traditional energy infrastructure like pipelines and green energy projects like solar panels. It also invests in “social impact” sectors like education and senior living. Approximately 68% of the portfolio is dedicated to sustainable infrastructure with energy infrastructure and social impact investments making up 13% and 19%, respectively.

But this isn’t the only way the fund is eclectic. It’s also a unique mixture of public and private investments. 52% is invested in publicly traded stocks with the remaining 48% invested in private, non-traded companies.

Is it any wonder that Wall Street has no idea what to do with this thing?

This lack of obvious buying clientele helps to explain why the fund trades at a large discount to net asset value of 15%.

That’s okay. We can buy this orphan stock, enjoy its 6% yield, and wait for that discount to NAV to close. And close it will. The fund is scheduled to liquidate in about 10 years, meaning the assets will be sold off and cash will be distributed to investors. Buying and holding this position at a deep discount would seem like a no-brainer of a strategy. 

Learn more about TEAF at the Ecofin provider site.

* Distribution rate is an annualized reflection of the most recent payout and is a standard measure for CEFs. Distributions can be a combination of dividends, interest income, realized capital gains and return of capital.

** Includes 1.50% in management fees, 0.28% in other expenses and 0.50% in interest expenses.

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BlackRock Municipal 2030 Target Term

BlackRock logoBlackRock logo
  • Assets under management: $1.9 billion 
  • Distribution rate: 2.9%
  • Discount/premium to NAV: -4.6%
  • Expense ratio: 1.01%**

We’ll wrap this up with another term fund, the BlackRock Municipal 2030 Target Term Fund (BTT, $25.49).

As its name suggests, the fund is designed to be liquidated in 2030, roughly eight years from now. A lot can happen in eight years, of course. But buying a portfolio of safe municipal bonds trading at a more than 4% discount to book value would seem like a smart move.

The biggest selling point of muni bonds is, of course, the tax-free income. The bond interest isn’t subject to federal income taxes. And while city, state and local bonds aren’t “risk free” – only the U.S. government can make that claim – defaults and financial distress in this space is rare. So, you’re getting a safe, tax-free payout. That’s not too shabby.

As of Oct. 29, 2021, BTT’s portfolio was spread across 633 holdings with its largest holding accounting for about 3.4%.

BTT sports a dividend yield of 2.9%. That’s not “high yield” by any stretch of the imagination. But remember, the payout is tax free, and if you’re in the 37% tax bracket, your tax-equivalent yield is a much more palatable 4.6%.

Learn more about BTT at the BlackRock provider site.

** Includes 0.40% in management fees, 0.61% in interest and other expenses

Source: kiplinger.com

The Best Places to Live in South Carolina in 2022

With its variety of beach towns and laid-back atmosphere throughout the state, there are a lot of cities considered the best places to live in South Carolina.

There are big plantation homes and tons of American history throughout the state, not to mention the unique culture of the Lowcountry. All combined, South Carolina is really like no other place in the U.S.

From outdoor fun to delicious, local eats and all the activities in between, living in South Carolina is an experience worth having. Here are 13 of the best places to live in South Carolina.

Charleston, SC

Charleston, SC

  • Population: 137,566
  • 1-BR median rent: $1,479
  • 2-BR median rent: $1,224
  • Median home price: $280,000
  • Median household income: $68, 438
  • Walk score: 63/100

With so much history packed into one town, Charleston is a great place to call home. As the starting point for the Civil War, you can explore Fort Sumter and take in a major turning point in our country’s own story.

When you’re ready to dip into the modern amenities of the city, there’s no shortage of enticing eats, preserved architecture and culture to enjoy. It’s the perfect mix of a city and a coastal town with so much to do right outside your door and so many beaches just minutes away.

Clemson, SC

Clemson, SC

  • Population: 17,501
  • 1-BR median rent: n/a
  • 2-BR median rent: $590
  • Median home price: $257,500
  • Median household income: $43,568
  • Walk score: 34/100

Of course, the biggest draw to this particular city is Clemson University. There’s plenty of student housing around this prestigious school. And, although Clemson gets billed as a college town, the city and school have a positive, intertwined community.

Leaving the draw of campus and all that football, introduces you to all the rest Clemson has to offer, including the Bob Campbell Geology Museum, the Brooks Center for Performing Arts and even the South Carolina Botanical Gardens.

Columbia, SC

Columbia, SC

  • Population: 131,674
  • 1-BR median rent: $1,067
  • 2-BR median rent: $1,103
  • Median home price: $200,000
  • Median household income: $47,286
  • Walk score: 35/100

Another college town, Columbia is home to the University of South Carolina. The campus stretches across the city, and tailgate culture is huge, everywhere. You’re most likely a football fan, to some degree, if you call this city home.

In addition to being Gamecock central, Columbia is also the state capital, bringing in a diverse population — that’s not all college students — to make the city run. It’s one of the best places to live in South Carolina because of its varied population and professional opportunities. There’s also plenty of fun things to do.

Fort Mill, SC

Fort Mill, SC

  • Population: 22,284
  • 1-BR median rent: $1,425
  • 2-BR median rent: $1,692
  • Median home price: $410,000
  • Median household income: $91,061
  • Walk score: 19/100

A charming historic district and proximity to Charlotte, NC make Fort Mill an appealing way to stay close to the city without actually living in it. Fort Mill offers miles of hiking and biking trails along its own greenway, plenty of golf and all the dining and shopping you could want.

One of the fastest-growing communities in the area, Fort Mill is drawing in families and young professionals alike — anyone who wants the combination of activity and natural beauty wrapped up in a carefully laid out town.

Greenville, SC

Greenville, SC

  • Population: 70,635
  • 1-BR median rent: $1,284
  • 2-BR median rent: $1,445
  • Median home price: $280,000
  • Median household income: $56,609
  • Walk score: 39/100

Known as an artsy city, neighborhoods in Greenville provide an eclectic mix of locations. Combining small-town charm and more urban amenities, you’ll find plenty of galleries, public festivals and events to satisfy your creative side.

Greenville is also perfectly placed for nature lovers to get a dose of outdoor beauty. Situated right in the foothills of the Blue Ridge Mountains, scenic hikes are less than an hour away. For a closer touch of nature, Falls Park lures residents in with its waterfalls and suspension bridge.

Hilton Head, SC

Hilton Head, SC

  • Population: 39,861
  • 1-BR median rent: $1,162
  • 2-BR median rent: $1,600
  • Median home price: $395,000
  • Median household income: $84,575
  • Walk score: 16/100

While you may consider Hilton Head more of a vacation spot than a living destination, the island offers something for everyone. Beautiful beaches, world-class golf, shopping, restaurants and even nightlife are all here. But, it’s not all resorts in this slice of the Lowcountry. There are plenty of communities that provide that homey feel.

Another draw of Hilton Head is its location. The island is one of the best places to live in South Carolina because of its proximity to both Savannah, GA, and Charleston. You can set yourself up for a more picturesque home life while taking advantage of big-city opportunities.

Lexington, SC

Lexington, SC

  • Population: 22,157
  • 1-BR median rent: $1,255
  • 2-BR median rent: $1,420
  • Median home price: $208,000
  • Median household income: $72,996
  • Walk score: 16/100

The historic and modern mix perfectly together in Lexington. Its historical claim to fame is the home to one of the first battles in the Revolutionary War. Another part of the city’s history revolves around commerce, and Lexington’s Old Mill stands as a symbol of the area’s commitment to small businesses.

Shopping around here means supporting locals and long-standing, family-owned shops. Its history and commerce are all in one, packaged in a quaint, suburban environment that continues to draw in young professionals and families.

Mauldin, SC

Mauldin, SC

  • Population: 25,409
  • 1-BR median rent: $1,378
  • 2-BR median rent: $1,333
  • Median home price: $249,200
  • Median household income: $67,860
  • Walk score: 28/100

A suburb of Greenville, Mauldin provides that safe, suburban feel without taking you too far away from a bustling city center. With access to everything the big city has to offer, staying close to home also provides ample opportunities for natural beauty and activity.

The 400-acre Lake Conestee Nature Park is not only a natural habitat for lots of local wildlife, but it’s also a perfect place for outdoor enthusiasts. And, it’s only five minutes from the center of town. You also can’t skip over the food in Mauldin when talking about the amenities of the town. You’ll find delicious Lowcountry cooking and plenty of great local restaurants.

Mount Pleasant, SC

Mount Pleasant, SC

  • Population: 91,684
  • 1-BR median rent: $1,525
  • 2-BR median rent: $1,783
  • Median home price: $555,500
  • Median household income: $103,232
  • Walk score: 29/100

As a South Carolina town with literally everything you could ever want, Mount Pleasant is a popular choice to call home. It’s quiet and picturesque, with strong community vibes and a variety of residents. It’s a town that caters to its population with great restaurants, shops and thriving nightlife.

Another laid-back coastal town that has it all, you’re also close to so much that makes South Carolina great. Sullivan’s Island is only a short car ride away, and Isle of Palms isn’t too far, either. On top of that, you’re less than three miles from Charleston. It’s the perfect, middle spot to enjoy everything the entire area offers.

Myrtle Beach, SC

Myrtle Beach, SC

  • Population: 34,695
  • 1-BR median rent: $1,314
  • 2-BR median rent: $1,400
  • Median home price: $250,000
  • Median household income: $43,200
  • Walk score: 23/100

Known primarily as a vacation destination that can get a little rowdy, Myrtle Beach has a lot to offer once you step away from the tourist traps and move past the amusement parks and high-rise hotels.

Taking up 60 miles of coastline, Myrtle Beach is a resort town, with all the typical amenities, and that presents a lot of opportunity both for job-seekers and entrepreneurs. There’s also the climate to consider when thinking of Myrtle as one of the best places to live in South Carolina — it’s fantastic. Mild weather and the lulling sounds of the ocean attract families, young professionals and empty-nesters to call this place home.

Rock Hill, SC

Rock Hill, SC

  • Population: 75,048
  • 1-BR median rent: $1,132
  • 2-BR median rent: $1,320
  • Median home price: $277,000
  • Median household income: $50,444
  • Walk score: 32/100

A thriving art scene gives the downtown area of Rock Hill its own signature. Named the state’s first cultural district, this area is full of galleries, museums, theaters and art studios. Not only that, but you’ll find the streets peppered with murals and sculptures from local artists.

Not an arts town alone, Rock Hill also has 31 parks, including Cherry Park and its 68 acres of hiking trails and landscaped walkways. Boyd Hill is another option with a disc golf course, picnic areas and even an outdoor swimming pool.

Spartanburg, SC

Spartanburg, SC

  • Population: 37,399
  • 1-BR median rent: $1,140
  • 2-BR median rent: $1,217
  • Median home price: $205,000
  • Median household income: $40,053
  • Walk score: 29/100

If South Carolina is calling to you for its mountain views, you’ll want to check out Spartanburg. With its small-town feel and neighborly vibe, living here still reminds you that you’re in the south but without the beach-front scenery the majority of the state provides.

A revitalized downtown is representative of the quick pace at which the city has grown over the last few years, and you’ll find diversity in job opportunities and living options as a result.

Tega Cay, SC

Tega Cay, SC

Source: Facebook.com/TegaCayCity
  • Population: 11,335
  • 1-BR median rent: $1,330
  • 2-BR median rent: $1,600
  • Median home price: $460,000
  • Median household income: $130,918
  • Walk score: 16/100

Another suburb of Charlotte, Tega Cay is a close-knit, lakeside community that fits most people’s ideal of small-town living. A family-friendly place, you’ll find plenty of restaurants and shops, as well as water sports on the lake.

Residents of Tega Cay also value the safety of the city. It’s the kind of place where kids are always out riding bikes and the community pool fills up with eager swimmers each summer. It’s almost like the suburban town you’d find in a movie.

Find an apartment for rent in South Carolina

Whether you want city living, ocean waves or even mountain tops, apartments for rent in South Carolina can provide the perfect view. With locations that accommodate any pace of life, alongside some delicious, fresh seafood, you’ll quickly see why there are so many places in the state people call the best.

The rent information included in this summary is based on a median calculation of multifamily rental property inventory on Apartment Guide and Rent.com as of October 2021.
Median home prices are from Redfin as of October 2021.
Population and median household income are from the U.S. Census Bureau.
The information in this article is for illustrative purposes only. This data herein does not constitute a pricing guarantee or financial advice related to the rental market.

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Source: apartmentguide.com

How to Financially Prepare for a Child – 13 Steps to Take

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Additional Resources

Stressed about how much it costs to have and raise kids?

Having extra mouths to feed barely scratches the surface of the expenses to come. From larger housing to larger cars, higher health care costs to higher education, diapers to child care, strap in for a costly ride.

But like everything else in life, it helps to be prepared. The better your financial planning, the better you can navigate the costs without derailing your current lifestyle. 

How to Financially Prepare for a Child

If you tried to make every ideal financial move before having kids, you’d reach retirement age before even trying. So don’t think of these as prerequisites for trying to get pregnant. 

Instead, think of them as parts of your larger financial plan that apply more than ever as you start having children.

1. Reconsider Your Income

There’s nothing wrong with pursuing low-paying work you love. I never believed my mother — an educator — when she said, “Do what you love, and the money will follow.” She proved me wrong by achieving a seven-figure net worth through frugal living, working a side hustle (tutoring), and consistent investing. 

But your motivation matters. There’s a difference between choosing a modest-income career because you’re passionate about it and being stuck in one due to inertia. 

I know teachers who love what they do and wouldn’t want another job even if someone offered to double their salary. Others coast their way through every tedious lesson plan. 

If you don’t love what you do, go back to the drawing board. That goes doubly if you also don’t love your salary. 

Brainstorm jobs that provide fulfillment and meaning to you personally. Then get creative and explore remote positions, jobs that provide free housing, or jobs that pay well even without a college degree. 

Choose a career that fulfills you both personally and financially. It doesn’t need to pay a huge salary, but aim to get up every morning happy with the career choice you made. 

2. Enroll in Health Insurance

Pregnancy is expensive. So are delivery, infant checkups, and pediatric health care in general. If you do nothing else before your baby arrives, get health insurance. 

Fortunately, not having insurance through your employer doesn’t mean you have to go without it. Explore options for health insurance without employer coverage. There are even part-time jobs that provide medical insurance. 

Note that families with a high-deductible health insurance plan may well burn through every dollar of that deductible over the course of pregnancy, delivery, and the first few months of life. Plan accordingly. 

Low-income families can explore the Children’s Health Insurance Program as another option.

3. Revamp Your Budget

Once upon a time, I spent more money on happy hours, dinners out, concerts, and entertainment in general. My budget looked different before I got married, and then it changed again after my wife and I had children. 

That’s normal. Your budget isn’t static. It’s a living thing that evolves over time alongside your life. And if you do it right, you can save more money even after having children. I managed to do it through a mix of house hacking, getting rid of a car, and moving overseas. 

If you don’t have one, create a formal budget. If you do have one, look over all your budgeting categories and start brainstorming ways to spend less and save more. 

4. Check Your Emergency Fund

You never know when an emergency or unexpected job loss could leave you without an income. And when you have children, the stakes are higher. 

As you prepare for the responsibility of a family, set up an emergency fund to cover two to 12 months’ worth of expenses. 

How much you need depends on the stability of your income and expenses. The more variable each is, the more months of living expenses you should stash away. An average person needs three to six months’ expenses, but people with inconsistent incomes or living expenses need closer to a year’s worth. 

You can always temporarily cut out costs like entertainment or a gym membership to save on expenses. But needs like electricity and food are nonnegotiable. 

And while some of your expenses may go down while you’re unemployed (such as gasoline), others may go up. For example, if you spend $200 per month on employer-subsidized health insurance, that expense may rise while you’re unemployed, as you may be forced onto a new plan or required to pay for your current plan in full.

5. Get Serious About Paying Off Unsecured Debts

Many people have unsecured debts, such as credit card debt, personal loans, and student loans. And those often come with high interest rates that exceed the long-term returns you can earn by investing. 

That makes paying off your unsecured debts a high priority. Follow a structured plan to pay them off quickly, such as the debt snowball method. 

Once you incur the added expenses that come with having kids, you’re less likely to have room in your budget to chip away at that old debt. Plus, the interest on it can make the expenses your child requires that much harder to manage.

While baby-related expenses tend to be significant initially, they don’t completely go away once your children are done with diapers. In fact, school-age kids can cost more than infants because they require more expensive clothing and food as well as money for activities like soccer lessons and ballet classes.

6. Plan for Child Care

Child care is the elephant in the room when planning the financial costs of having children. 

Explore all your child care options, from nannies and au pairs to day care to relatives and friends. If one parent doesn’t love their job, you can explore becoming a single-income family, with one parent staying home for the first few years of your children’s lives. 

Whatever you decide, plan and budget accordingly — because parental leave will be over before you blink. 

7. Plan for Baby Essentials

My wife wouldn’t let me try this experiment, but I believe you could get everything you need for an infant for free — or almost anything. 

Diapers cost money, and there are some things you should never buy used for safety reasons. Everything else you can get either free through services like Freecycle or inexpensively used via eBay, Craigslist, or local garage sales. 

Whether you buy used or new, get creative to save money on baby gear. See this baby supplies checklist from The Bump to ensure you plan for every need. 

8. Update Your Will

Your estate plan does more than tell your family and friends who gets your autographed guitars after you die. It also makes provisions for child care if you die prematurely. Your will can include provisions for an unborn child, which you can amend after they’re born.

You have a couple of options for creating a will (or any other estate planning documents):

  • Do It Yourself. You don’t need a lawyer to create a valid will. You simply need to be 18 or older and of sound mind. You also need to sign your will in front of two witnesses and ensure it’s accessible once you die. You can use an online service like Trust & Will to draft one affordably.
  • Hire an Attorney. The cost is significantly more, but a lawyer handles all the details for you. Expect to pay anywhere from $300 to $1,000 for a basic will. If your assets and estate are complex or you need to establish a trust, it could cost upward of $10,000.

Optional Financial Moves to Consider

Some moves could help you feel more ready for kids, though they aren’t strictly necessary. If you can’t do them, no need to worry. In fact, some people may decide holding off on these is smarter than doing it before they have kids. 

So consider this type of financial planning purely optional: a list of ideas for thought rather than more reasons to fret. 

9. Reevaluate Your Housing

You can care for an infant in a studio apartment. They certainly won’t know the difference. But that doesn’t mean you’d enjoy it. 

As a long-term planning exercise, think about what type of home you want to live in for the next few years. You don’t need extra bedrooms or bathrooms right away, as infants can sleep in the same room as you for a while. Even when they move out of your room, they could move into a room with an older sibling. 

But you may decide you want a larger home, so start thinking about what that looks like and how to pay for it. Only buy a home if you plan to stay for at least a few years, as closing costs on either end of the transaction make it cheaper to rent otherwise. 

10. Reevaluate Your Transportation

If you and your spouse each drive two-seat sports cars, one of you may need to swap it out for a more family-friendly option. 

Of course, you don’t always need a car. My wife and I don’t have one. We simply take the car seat with us when we hire an Uber. I also installed a baby seat on my bike so I can transport my daughter that way too. 

Consider the public transportation, walkability, and bikeability of the area you live in. It’s possible you could live without a car too.

But most Americans drive cars as their primary means of transportation, so if yours is either too small to fit your whole family or unreliable, it’s probably time to get a different one. But explore used cars first as a more budget-friendly option. 

Give yourself more flexibility by choosing three to five models you’d be happy to buy, and shop around among both dealerships and individual owners to find the ideal used car for you and your growing family.  

11. Buy Life Insurance or Disability Insurance

In households with one breadwinner or a partner who significantly outearns the other, life insurance makes sense. You want to ensure your family would survive financially if it lost that primary breadwinner. 

Life insurance policies come in two broad buckets:

  • Term Life Insurance. Term life offers coverage for a specified period. It’s generally cheaper and comes with a guaranteed set death benefit. With term life insurance, your premiums increase at preset intervals, such as 10, 20, or 30 years.
  • Whole or Universal Life Insurance. Also known as permanent life insurance, whole or universal life insurance death benefits never expire as long as you pay premiums. These policies often also provide certain living benefits, such as the ability to borrow money against the policy.

As a rule of thumb, your death benefit should be six to eight times your annual salary. But there are other considerations to take into account, such as your homeownership status and anticipated number of dependents as well as how much you can afford. 

If you’re unsure about your coverage needs, talk to an independent financial advisor and shop around for the right plan. You can compare policies on sites like Policygenius and GoCompare.

The same concepts apply to long-term disability insurance. Both protect against the risk of the breadwinner losing their ability to earn. 

Granted, not everyone needs life insurance or disability insurance.

For example, my wife and I live on one income even though we both work. We live on her income and save every dime of mine. And we don’t have life or disability insurance because we maintain low living expenses relative to our income and a high savings rate to build our net worth quickly. 

If either of us kicked the bucket tomorrow, each of our incomes would be enough in itself to support ourselves and our child, and the surviving spouse would have a hefty nest egg to fall back on in a crunch. 

Avoiding the need for life insurance and disability insurance by “self-insuring” are two of the many hidden benefits of pursuing a financially independent lifestyle. Once you build enough money, you can opt out of life and disability insurance. 

12. Double Down on Retirement Investments

I joke that my backup plan for retirement is my daughter. If she were old enough to get the joke, she wouldn’t laugh. 

The worst thing you can put on your adult children is asking them to take care of you in retirement. It adds a burden on them in an already hectic time of their lives, when they’re trying to start and raise their own families. 

Before you even consider setting aside money for their college education, take a closer look at your retirement investments. If you have the slightest worries about them, put more money into your tax-sheltered retirement accounts long before saving money for your kids’ college tuition. 

They have many other ways to pay for college, but you only have one way to pay for your retirement. 

Invest money now so it can start compounding, and decide what to do with it later. You can withdraw contributions from a Roth individual retirement account tax- and penalty-free to put toward any costs, but you can only use 529 plans or ESAs for education costs.

13. Invest to Help With College Costs

Not paying your kids’ college tuition doesn’t make you a bad parent. Young adults who pay for their own college education often take the experience much more seriously. And many parents question whether to help with college even when they can afford it. 

Even small amounts invested when your child is young can compound into significant sums by the time they turn 18. If you decide to chip in, you have several tax-friendly options to do so. 

  • 529 Plan. Your 529 college savings plan earnings grow and remain tax-free if you spend them on qualified educational expenses. 
  • Coverdell Education Savings Account. A Coverdell ESA works similarly to a Roth IRA for education expenses. There are income limits ($110,000 for single filers and $220,000 for married), and the maximum allowable yearly contribution is $2,000, regardless of your income.
  • Upromise.Upromise allows you to earn cash back to use to pay for college. Unlike 529 plans and ESAs, you don’t have to contribute additional money. Rather, you earn cash back on expenses like online retail purchases and restaurant meals.

In all cases, you can open the accounts early and designate your child as a beneficiary after birth.


Final Word

As much as I preach fiscal responsibility, I know firsthand that putting off children doesn’t always make sense, financially or otherwise.

My wife and I married in our early 30s and agreed to spend one year building a foundation for our marriage before having children. Then one year became two, then three. 

I started a business, and my wife worried about money. Then we went through a rough patch in our marriage. We survived it but had reached our late 30s by that point. 

When we finally started trying in earnest, nothing happened, which kicked off a stretch of infertility questions and interventions. Eventually, we did have a child, but not all couples are so lucky. 

Many of my friends haven’t experienced the joy of having children despite spending large sums of money — not to mention enduring immense heartache — trying to do so. In one of life’s bitter ironies, many delayed trying for children because they worried about money. 

On the opposite end of the spectrum, I know plenty of parents without much money who have multiple children. And every one of them finds a way to make it work.

There’s no perfect time to have children. They disrupt your life in every possible way. But like billions of parents with less money than you have, you’ll find a way to make it work too.

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Source: moneycrashers.com

Food Delivery Advice from an Uber Eats Driver Who Made Bank

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The Salem, Oregon, resident made thousands of dollars in June 2020 delivering food for Uber Eats, an app for gig work that proved especially popular during the pandemic.
The very premise of Lyon’s challenge is a goal. It gave him something to focus on and the motivation he needed to make it through grueling 12-hour days.
What you earn from Uber Eats is heavily determined by your market — the city or metropolitan area you deliver in.
“Make sure you look approachable,” Lyon said.

Uber Eats Tips and Tricks From a Driver Who Made $8,357 in One Month

Of the hundreds of orders Lyon completed in June, he got some pretty weird requests from customers. One person asked if he could deliver a pack of cigarettes along with the food order. Lyon told the guy that he didn’t have the money on him to buy the cigarettes on his own, thinking it would end there.
Results may vary in your market. The key is to adapt to your locale. “My days were long,” he said. “I would do all that stuff to kind of break it up and have fun.”

1. Set Goals. Even Tiny Ones Help

Lyon vowed not to fall into that temptation. He carried only in cash, and that was strictly for gas. If he had downtime, he’d listen to podcasts or practice Spanish — while positioning himself for his next order.
Many factors went into his paycheck but none more than his sheer determination. He drove 12 hours — the maximum Uber Eats allows — for 30 days without a single day off.
“When you’re starting, accept every single order and then find your own trends in your own area,” he said.
Lyon drove primarily in Salem, Oregon. If you were to do the same challenge in a different city, you may make more or less than he did. A perfect example of this played out over TikTok. About halfway through June, another Uber Eats driver posed a challenge to Lyon: Who could make more money in a day?
A bigger city doesn’t always equate to better profits though, Lyon noted. Heavy traffic is likelier and could slow you down. You may have to pay to park to make the delivery.

Pro Tip
Some Uber Eats drivers pass on smaller orders in hopes to land larger ones. But that can backfire for inexperienced drivers. Lyon said he put that strategy to the test and found, on average, he was making an order no matter how selective he was being.

2. Take a Great Profile Pic

And to cut down on costs, his own food was homemade.
“I knew I needed to do at least 20 trips to get around that 0-a-day mark,” he said. “So that was always my goal. Anything after that was icing on the cake.”
When the paychecks from your side hustle start rolling in, it’s easy to think all that money is profit. However, quite a bit of it actually goes toward expenses and taxes. It’s one of the biggest pains of being a 1099 worker.
Before we get started, let’s be clear: What Lyon earned is not typical. Far from it.
Uber Eats gives drivers a referral code that they can share with other people to get them to start delivering, too. Once the new driver completes a certain amount of deliveries, the recruiter earns money. But the amount fluctuates depending on the market. Sometimes it’s 0 per 50 trips. Other times, it’s per 50 trips.

This is the main photo used for Sam Lyon's Uber Eats account.
For his Uber Eats profile, Lyon used a selfie taken in his car — then realized he couldn’t change the picture once it was uploaded. Photo courtesy of Sam Lyon

3. Manage Expectations Based on Your Market

Referral bonuses are “definitely not worth the time,” according to Lyon.
Sam Lyon pushed his earning potential in the gig economy to its limits.
And if you’re keeping track of expenses like gas and car depreciation, you can factor that into the amount you’re withholding for Uncle Sam. Lyon’s system was pretty simple. He had a fixed amount for gas, a day. That totaled 9. He had one oil change (), and also factored in his car’s depreciation (0) based on the miles he drove.
“If I was delivering to a suburb, my downtime would be spent driving the extra mile or two to be parked next to a McDonalds, an Applebees, a Red Robin.”
They both delivered food for 12 straight hours. The difference was that the other driver lived 45 miles north in Portland, Oregon. That turned out to be a crucial factor— the challenger made 3 to Lyon’s 8.
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Downtime between orders trips up many new delivery drivers. You’re delivering food all day, after all. You might be tempted to go through the drive-thru for yourself. But idle spending can eat into your earnings.

Need a banking service that’s built for freelancers, helping you save for taxes and keep track of your expenses? Check out Lili. (It’s free!)

4. Learn From the Trends in Your Area

And that’s coming from someone who had hundreds of thousands of followers on TikTok.
“In pending invites, I would make ,320,” Lyon said as he read off of the stats in his driver profile. “In successful invites, I made “You know what? Why not? I’ll do it. I picked up the money and got him the cigarettes. When I got back, he paid me the change as well. And I made a quick [tip],” he said.
“You can stop by here. I’ll put the money downstairs and you can come grab it,” the customer responded.
“See what kind of restaurants you like and which ones you want to avoid, he said”
Lyon is a big proponent of the quantity-over-quality approach to accepting orders.
The first picture you choose is the one you’re stuck with. Uber policy allows drivers to change their picture only if something happens that alters their appearance since the original photo. In that situation, you’d have to contact customer support.
He challenged himself to make as much money as possible in that one month. To do so, he drove 12 hours a day for 30 days straight.

5. Occupy Your Downtime

Lyon went for it.
Source: thepennyhoarder.com
His specific challenge may not be replicable (or even advisable) in every circumstance. But if you’re a current or aspiring delivery-app gig worker, you can apply Lyon’s tips for Uber Eats drivers to maximize your own profits.
“Depending on what city you’re in, there are a lot of moped Uber drivers, there are a lot of bike Uber drivers. You can’t really compete [in a car] in those urban, downtown areas,” he said.
Adam Hardy is a former staff writer at The Penny Hoarder. 

6. Don’t Waste Time With Referral Bonuses

“Suburbs are just front porch and then you’re gone.”
In an interview with The Penny Hoarder, Lyon broke down his earnings and what he learned from his 30-day challenge. He also offered some Uber Eats driver tips that other gig workers can use.

“I think goal setting was huge for my success,” Lyon said. “Setting markers in what you want to achieve are extremely important.”
It breaks down like this: His total earnings were ,357. His expenses account for ,148, and he set aside an estimated 30% of the difference for taxes, about ,100. That brought his actual profits to roughly ,100.
“I would go home and spend 30 minutes to an hour preparing food and eating before going back on the road,” he said. “I did not have any fast food during that 30 days.”

A man checks his phone in his car.
Lyon encourages indulging customers’ odd requests, as it can lead to a big tip. Photo courtsey of Sam Lyon

7. Indulge Odd Requests. They Could Lead to Big Tips

Before you start your gig, have a professional or financial goal in mind. That can keep you on track — and keep you from burning out.
“I would definitely keep in mind you will have to pay those taxes later. It’s not automatically coming out of what you earned,” Lyon said. “Personally, I set aside 30% of what I make. That way, I have a little bit of wiggle room.”
“It started off as a beautiful day. The birds were chirping. The sun was shining,” Lyon said in a video. “The perfect day for two gladiators to enter the arena.”
When you’re making your Uber Eats driver profile, don’t blast through it thinking you can go back and change it later — especially the photo step.
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Setting aside 30% might seem steep, but it’s usually an overestimate. Lyon, like most taxpayers, would rather have a refund come tax time than a hefty tax bill.

8. Track Your Expenses

Ready to stop worrying about money?
In the end, Lyon made ,357 and documented his journey on the video-sharing site TikTok, where he goes by the moniker SabbiLyon. Each day, he recorded a short video to log his progress — amassing more than 200,000 followers and millions of views along the way. Lyon entertained just about every odd request he got. They usually led to big tips.
Once you get a sense of those trends, you can then experiment to try to maximize your pay.
In the time it would take him to land a big order, he says he could have been delivering three smaller orders.
After a week or so of driving, he was able to see how much money was possible to make given his parameters. So he aimed for a specific target: ,000 by the end of June.To reach that, he would try to make at least 20 deliveries a day. He didn’t worry much about the pay of each delivery because they ended up averaging about an order. <!–

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The app shows you potential earnings based on the amount you would have earned if all the people you invited completed their first 50 trips.