As we started 2024, the signals in the U.S. real estate market were for inventory growth, sales growth and home-price growth across the U.S. At the time, I observed that even if mortgage rates stayed flat, the momentum seemed to be in the cards for broad, slow growth in the market.
However, mortgage rates didn’t stay flat. They climbed starting Jan. 1 and as of today, March 18, mortgage rates are 30-40 basis points higher than Jan. 1. Rates are off their recent peak of a couple weeks ago, but the latest economic news is still very strong, and the markets are growing less sanguine about interest rates easing significantly soon. Last year, the most common view was that mortgage rates would fall in 2024. That hasn’t materialized yet and many people are less optimistic that it will.
We’ll learn more about the future of interest rates at the Federal Reserve meeting this week. Although I don’t have any capacity to predict interest rates, I do know what happens to the housing market if rates rise or fall from here.
Of my initial expectations this year — rising inventory, rising sales rates, rising prices — only rising inventory remains clear at this moment as we finish Q1 with rising interest rates. I talk frequently about how rising rates creates rising inventory. That’s true again this week in the data. My other two expectations, slowly rising sales volume, and slowly rising prices, are less compelling. Let’s look at the data.
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Housing inventory
Looking at last week’s numbers:
There are 507,000 single-family homes on the market in the U.S.
That’s 1.3% more than a week prior, 22% more than a year ago, and 105% more than two years ago.
This week in 2022 was the last of the 3% mortgages. Inventory and rates rose in lockstep starting then.
There are 250,000 more homes on the market now then when we exited the pandemic boom in March 2022.
At this moment in 2022, interest rates and inventory had started rising quickly together as the pandemic boom ended. Mortgage rates were still in the 3s in early March 2022. By April they were in the 4s and by May they were in the 5s.
As mortgage rates rise, so do the number of unsold homes: Demand slows, inventory grows. As the economy remains surprisingly strong, mortgage rates are staying higher for longer than people predicted and as long as rates stay high, inventory will keep growing.
While inventory is growing across the country, some markets are way more impacted and already have more homes on the market than in 2019 or 2020 just before the pandemic. Nearly all markets are showing inventory growth over last year now and this is expanding every week.
The takeaway? If mortgage rates continue to rise to 7.5% or all the way to 8% again, we will see a pretty dramatic increase in unsold inventory. But if rates finally fall, let’s say to 6.5% or lower, we’ll see consumers act very quickly and this inventory growth will reverse. Lower rates mean more buyer competition and less unsold inventory.
New listings
Last week, 59,000 new single-family listings came to market. New listings volume continues to run ahead of last year and we see more sellers than last year. In fact, last week, after including the 16,000 immediate sales, there were 24% more new listings than the same week a year ago.
Last year was probably a record low for mid-March as we had very few sellers. For the rest of 2024 we should expect to have more sellers than a year ago, which is a very good thing. It was not that long ago that we had 70,000 or 80,000 new listings each week in March. We’re at 59,000 right now so the seller volume is climbing, but it’s still a third fewer than in recent years. So nationally there isn’t any sign of supply and demand getting out of balance.
Home prices
Demand is slow as mortgage rates continue to stay in the 7s. Supply is gradually increasing and demand is generally soft. As a result, some of the leading indicators for future home sales prices are starting to weaken.
One obvious place to watch this pricing transition is in the percent of homes on the market with price reductions. This week, 30.9% of the homes on the market have taken a price cut. That’s up half a percent this week and is now more than a year ago.
It’s totally normal to have around a third of homes on the market take a price reduction from the original list price before they sell. I’m going to watch the slope of this curve as this chart will show exactly how quickly the market reacts to higher mortgage rates. This is a pivotal time for measuring buyer demand.
A longer-term signal is the asking prices of all the homes on the market. The median price of single-family homes in the U.S. right now is $435,000. That’s up a notch from a week earlier and just 1.2% higher than a year ago.
Again, in January I expected this price data to be accelerating a little more quickly than it has. Home prices peak each year in June before receding a bit in the second half of the year. The question now is: will we surpass that all-time high this year or will it get delayed until 2025?
The median price of the new listings inched down to $419,900 last week and the new listings cohort is priced 5% higher than a year ago. The new listings are an excellent leading indicator for future home sales prices. The sellers and listing agents use all their collective wisdom and in aggregate they know exactly where to price the new listing. What this data tells us right now is that across the U.S. we have just narrowly increasing home prices this year so far. The signals are slightly weaker now than the data at the start of the year led me to expect.
Pending sales
This week saw 66,000 new contracts for single-family homes started. That’s 15% more than the same week a year ago. Since mortgage rates have been on the rise this year, the sales have been just barely above last year, so this week was probably a bit of an anomaly, but it is welcome nonetheless.
When we look at the price of the homes in contract but not yet sold — these are the pendings — we see that home sales prices are coming in about 4% higher than a year ago. The median price of all the homes in contract right now is $389,000. Home prices ended 2023 at 5-6% gains over the previous year, so home-price appreciation is compressing as mortgage rates have risen.
If rates stay steady around 7%, I don’t expect much price correction lower. If mortgage rates jump from here, I expect that we’ll see a step down in home prices like we saw in October of 2022.
Back in late 2023, we got in the car with the Federal Reserve with the promise of a trip to our favorite place: the land of lower interest rates. In 2024, we keep asking “are we there yet?” The more we ask, the farther we seem to be from the destination.
This trip began with all the best intentions. Softer inflation and cooler economic data led the Fed to expect an opportunity to cut rates several times in 2024. The Fed communicated as much in mid-December. Markets took things a step further with futures contracts pricing in 6 cuts by the end of the year. “6 rate cuts” was a refrain that echoed throughout the mortgage and housing industries. Suddenly, too many people were risking disappointment by not understanding the HIGHLY conditional logic behind the 6 cut mantra.
It wasn’t necessarily a mistake for the market to get so far ahead of the Fed’s official outlook. After all, the Fed has a history of cutting rates MUCH faster than its projections suggest. But the decision would ultimately be dependent on continued progress on inflation, and more economic cooling.
With the release of this week’s inflation data, we now have two consecutive months that raise serious objections to the notion that the Fed will be able to cut any time soon.
This is a chart of the core Consumer Price Index (CPI) in year over year terms. This is the inflation metric that the Fed wants to see at 2% and they’ve been clear in saying they can cut rates if they’re confident that we’ll get there. It shows clear, substantial progress toward that goal:
The following chart shows the same thing, but now in more granular month-over-month terms. This allows us to better assess progress toward the 2% annual goal. It shows the past range that’s been consistent with that annual goal, but more importantly, it shows inflation moving up and out of that range last month. This week’s report maintained the same “too high” level.
The news wasn’t quite as bad from the week’s other key inflation report, but it certainly didn’t help. The Producer Price Index (PPI), which measures wholesale inflation, has also now seen the highest two consecutive months since inflation first began to calm down in 2022.
While PPI doesn’t usually move markets as much as CPI, and while the results were arguably not as troubling, it actually caused a bigger jump in rates because it added insult to CPI’s injury. It also happened to be flanked by upbeat labor market data. The following chart shows ongoing jobless claims, which had recently crested 1.9 million for only the second time since hitting long term lows.
On the road to lower rates, this week’s economic reports are tantamount to the driver actually making good on the threat to “turn this car around!” Here’s how rates reacted, as seen in terms of 10yr Treasury yields (highly correlated with mortgage rates in terms of day to day movement).
And here’s the context going back to the initial rate rally in November and December:
The trajectory for mortgage rates is substantially similar as seen in the chart below, at least if you’re looking at the blue line. The orange line shows Freddie Mac’s weekly rate survey which was badly tricked by the timing of rate movement over the past two weeks in conjunction with its laggy methodology. Specifically, it’s a 5 day average ending on Wednesday. As such, if the previous week sees decent improvement on Thursday and Friday, and the new week doesn’t see most of its deterioration until Thursday and Friday, the most recent mark will move down instead of up. This is exactly what happened during this cycle.
Looking ahead, next week’s obvious focus is Wednesday’s Fed Announcement. To be sure, there is no chance of a rate cut at this meeting. Instead, markets will focus intently on the Fed’s updated rate projections. These only come out 4 times a year, so this will be the first update since December 13th and it will provide valuable insight as to how the past 2 months of higher inflation readings have affected the Fed’s rate outlook.
My work on housing moves around the 10-year yield and the economics that move that. The growth rate of inflation has fallen a lot on the year-over-year data, but mortgage rates haven’t gone down, which isn’t surprising to me as my mantra has been:“Labor over Inflation.”
For 2024, the 10-year yield running between 3.80%-4.25% looks perfectly normal to me as long as the economic data is firm and the Fed hasn’t pivoted. I can’t see the 10-year yield below 3.37% unless the labor market breaks — meaning jobless claims over 323,000 on the four-week moving average. That means I can’t see mortgage rates going below 6%, especially with the spreads being bad, until the labor market or the economy gets weaker.
However, now we are at the same spot as last year, near the critical 4.34% level and we have the Federal Reserve meeting coming up. This is a big week, as you can see in the chart below.
With mortgage rates above 7% again, we will have to see what the Fed says at this meeting because, in the past few meetings, they have made it clear that policy is restrained and that they don’t want it to get too restrictive. This is what happened last year when the 10-year yield headed to 5% and we had 8% mortgage rates. However, there is a risk of the Fed sounding too hawkish again which would send the 10-year yield higher.
Purchase application data
As mortgage rates have been falling recently, we saw back-to-back weeks of growth in the purchase application data, which aligns with what we saw last year. Remember, we are working from extremely depressed levels in this data line, so the bar is so low that it doesn’t take much to move the needle.
Since November 2023, we have had 10 positive and five negative purchase application prints after making holiday adjustments. Year to date, we have had four positive prints versus five negative prints. Clearly, if mortgage rates can head toward 6% and hold we will get rising demand, but I believe the Federal Reserve wouldn’t be able to sleep at night if more people were buying homes.
Weekly housing inventory data
The one positive story for me in housing this year is that inventory is growing year over year for both active inventory and new listing data. I know it’s not a lot, but growth is growth. The one benefit of higher rates is that inventory can grow in the post-2010 qualified mortgage world as long as higher rates create softness in demand. It hasn’t been a lot of growth historically, but growth is growth.
Last year, the seasonal inventory bottom happened on April 14, which was the the longest time to find a seasonal bottom ever. This means we will show more than normal inventory growth until we get past tax day 2024.
Here is a look at the inventory last week:
Weekly inventory change (March 8-15 ): Inventory rose from 500,579 to 507,160
The same week last year (March 9-16): Inventory rose from 413,199 to 414,967
The all-time inventory bottom was in 2022 at 240,194
The inventory peak for 2023 was 569,898
For some context, active listings for this week in 2015 were 982,639
New listings data
New listings are growing yearly, which is another plus for housing. Last year, II picked up on the trend that new listing data was creating a historical bottom as the data line wasn’t heading lower with higher rates. The growth is a tad lighter than what I was hoping for. But as someone who didn’t buy the mortgage rate lockdown premise that inventory can’t grow with higher rates, this year is a good test case.
Here’s the weekly new listing data for last week over several previous years:
2024: 59,542
2023: 41,415
2022: 54,542
For some historical context, new listing data this week in 2010 was 306,020.
Price-cut percentage
Every year, one-third of all homes take a price cut before selling — this is regular housing activity and this data line is very seasonal. The price-cut percentage can grow when mortgage rates move higher and demand gets hit. When rates fall, they go lower than an average year.
Inventory is higher than last year, and we might have found the bottom already, so as the year progresses, the number of homes taking a price cut should increase. The goal is to see how the mortgage rate variable plays into this data line. This is why this week’s Fed meeting is key, to see if the 10-year yield can break higher, which should increase the price-cut data.
Here’s the percentage of homes that took a price cut before selling last week and how that compares to the same week in previous years:
2024: 31%
2023: 30%
2022: 17%
Week ahead: The Fed and housing data
The Federal Reserve’s language and the dot plot are the two things to watch this week. The dot plot should still show many Fed members having two to three rate cuts in play for 2024, with some going the opposite way from that group. We also will have tons of housing data coming out this week, including the builders’ confidence, housing starts, existing home sales, and Zillow home price data. However, the key is the Fed, Fed and the Fed!
For Moriello, she previously explained why it’s fairly easy for existing clients — including forward mortgage borrowers — already served by the company to be flagged as potential reverse mortgage customers once they reach the age of eligibility. For the HECM program, a company professional could look into their customer relationship management (CRM) software and see when a client could potentially qualify for a reverse mortgage.
“Any loan officer can run a report in their own database to calculate when someone’s date of birth hits that prime age [for a reverse mortgage],” Moriello said.
While some may think that certain technology tools are either forward-specific or reverse-specific, Moriello says that the tools at her company are often interchangeable by forward and reverse professionals.
Still, there are advantages to being a lender that is active in both forward and reverse, she explained.
“I feel like, as a loan officer that can look at all products and decide to show the client what different products — like a home equity line, a forward mortgage or a reverse mortgage — can do for them, it gives me the unique opportunity to present all products to them at the same time,” she explained. “[It helps me] give them an understanding about how each product would serve them.”
2024 HECM limit
On Jan. 1, the limit for HECM loans was increased to $1,149,825 by the Federal Housing Administration (FHA). Loan originators who have spoken with RMD on the topic generally find the increase welcome, but they do not feel that the higher limit is a “game-changer” when it comes to new business this year.
Moriello thinks it could be potentially beneficial overall.
“It’s absolutely a consideration,” she said. “I’m in the Northeast, so the higher the dollar amount, the better. I had a conversation [with a borrower] where we were talking through the benefits of taking out a HECM line of credit [for] future planning, [including] the growth rate tied to the HECM line credit.”
Still, despite the potential utility of a higher HECM limit, there are still some product gaps that the proprietary market could serve for people with higher-value homes, she said.
“When I sat down with this borrower, I realized I’ve got to run both the HECM and the proprietary for this client due to the value of the home,” she said. “I wish that we had a proprietary product that had more of a growth-rate line-of-credit option more similar to the HECM.”
Receptivity of referral partners, clients
When asked about openness to reverse mortgages from business referral partners and borrowers, Moriello explained that getting a curt “no thanks” is still common. But for those who might find a benefit in a reverse mortgage, they’re more open of late to explore the possibility.
“More often than not, these high-level professionals are looking for options for their clients,” she said, “whether those options are to help them buy a new home, to live a better life with more assets in retirement, or to help them get a non-taxable stream of cash flow to help them in retirement. They’re looking at opportunities.”
Certain longstanding issues have not gone away, including a perception by some financial planners that makes them feel reverse mortgages are not an option that can even be explored, let alone discussed. But modern classes of financial planners generally seem to be more open to conversations, based on Moriello’s conversations.
“These financial planners are much higher caliber and quality than I’ve ever seen before, but yet the understanding of the compliance behind it causes them to have to take a step back,” she said. “And sometimes they feel they can’t even talk about a reverse mortgage. It’s not as often as it used to be, which is a good thing.”
Spending speed
As for what’s fueling these greater levels of openness, Moriello said it could come from a lot of places, but the speed with which clients are burning through money today is a clear possibility.
“I know from what I can see, it is absolutely tied to how fast people are going through money,” she said. “I can absolutely see that these professionals are worried that their folks are going to run out of money.
“We were just talking here in the office about our own electric bills, which have effectively doubled in our area. That’s one thing when you’re still working, but what happens when you’re on a fixed income?”
That puts far more pressure on fixed-income retirees, which could lead to conversations about tapping into home equity, she said.
“What that means is folks need to take more money out of retirement than they ever have before, and the financial professionals are looking at understanding that. So, they’re looking at options to help them extend the life of their assets so that they can continue to live well in retirement.”
When Don’t Worry Darling hit the screens, it wasn’t just the twisted plot and star-studded cast that captured our attention.
The real scene-stealers were the homes and the perfectly manicured fictional neighborhood of Victory, set against the sun-drenched backdrop of Palm Springs.
This desert oasis, long revered for its midcentury modern gems and luxury living, served as the ideal setting for the movie’s 1950s utopian town vibe — making everyone yearn for the idyllic Victory neighborhood and the picture-perfect homes that line its streets.
Let’s dive into the real homes that brought the eerie allure of Victory to life and discover if you can sneak a peek at them in real life.
Where to find the Victory neighborhood
The picture-perfect neighborhood of Victory in Don’t Worry Darling plays a crucial role in establishing the film’s eerie, utopian setting that belies a darker, more sinister undercurrent.
This idyllic 1950s town, modeled on American suburbia but with a sureal, futuristic edge, serves as a visual representation of the film’s central themes around societal perfection, control, and the unsettling reality beneath the surface of a seemingly perfect community.
And yes, a real neighborhood was used to create Victory on-screen. The filming primarily took place in Greater Palm Springs, an area renowned for its preserved mid-century modern architecture and luxury desert living, which perfectly complemented the movie’s aesthetic.
Palm Springs provided the quintessential backdrop for the storyline, with its sprawling desert landscapes, iconic midcentury modern homes, and clear blue skies, embodying the visual and thematic essence of the Victory town.
Related: Suzanne Somers’ beloved 28-acre Palm Springs retreat re-lists for $8.95 million
Specific locations within Palm Springs, such as the Canyon View Estates and the iconic Kaufmann House, were used to depict the homes of the characters, adding authenticity and a touch of architectural appeal to the film’s setting.
These real homes and neighborhoods lent Don’t Worry Darlin” a tangible sense of place and time, grounding the film’s more surreal elements in a recognizable, albeit stylized, reality.
Victory’s vintage vibes & its picture-perfect homes
Frank’s fortress: The Kaufmann House
At the heart of Victory’s mystery is Frank’s (played by Chris Pine) home, carefully picked to reflect his status as the project’s mastermind.
And director Olivia Wilde, whose elegant filmmaking techniques shine throughout the movie, made sure an unforgettable filming location was picked to serve as Frank’s house: the iconic Kaufmann House.
This architectural marvel, also known as the Kaufmann Desert House, was built in 1946 by Richard Neutra for Edgar J. Kaufmann and screams mid-century modernism with its clean lines, steel frame, and glass walls.
Fun fact: You might already be familiar with Kaufmann’s other iconic residence. The department store magnate and architecture connoisseur also commissioned Frank Lloyd Wright to design his home in Pennsylvania, the unforgettable Fallingwater House (now a UNESCO World Heritage Site). While the Don’t Worry Darling-featured Kaufmann House doesn’t quite have that level of pedigree, it’s nevertheless a famous structure in its own right.
Known globally, partly thanks to Slim Aarons’ iconic Poolside Gossip photograph, the Kaufmann House is a structure that encapsulates the essence of Palm Springs living. So much so, that even the production team was surprised they managed to film at this iconic location.
However, they did have to tread carefully when shooting scenes here.
Katie Byron, production designer for the film, told Variety that “We were shooting in one of the most historic buildings in California. The restrictions of how we could shoot it and what we could do inside were definitely the highest I’ve ever worked with.”
But the team knew all too well that they were lucky to land such an ideal filming location for their shots.
“It was so special to get, since Neutra was obviously a very good reference for the design of the film,” Byron said. “He was a design inspiration for Victory, but also kind of a character inspiration.”
While Don’t Worry Darling offers us a rare glimpse inside this private residence, don’t get your hopes up for a tour. This landmark remains off-limits to the public, but a leisurely drive by 470 West Vista Chino lets you admire its exterior.
Alice and Jack’s midcentury home: Canyon View Estates
The quaint cul-de-sac home of Alice and Jack mirrors the classic ’50s bungalow style, and is nestled within Canyon View Estates at 2400 S Sierra Madre, in Palm Springs, CA.
These single-story homes, with their expansive windows and open floor plans, reflect the era’s architectural ethos, designed by Dan Palmer and William Krisel.
Though the interiors were movie magic, the exteriors are very real and part of a community with a shared pool and green space.
These homes are privately owned, so while moving in might not be an option, a bike ride through the neighborhood is a must for any architecture aficionado.
Beyond the suburbia: The Volcano House
Stepping out of Victory and into the Mojave Desert, the Volcano House sits atop its hill like a landed UFO, ready to whisk you away.
This unique, dome-shaped residence set right outside of Barstow, Calif. in Newberry Springs and designed by Harold James Bissner Jr added an extra layer of otherworldliness to Don’t Worry Darling.
Though originally built for Vard Wallace and featuring 360° panoramic desert views, this peculiar piece of architecture is now privately owned.
While you can’t tour the inside, it’s visible from the road for those willing to venture into the desert to catch a glimpse of where reality meets the surreal.
Can you visit these architectural beauties?
While the Kaufmann House and the Volcano House remain off-limits to public tours, Palm Springs itself is an open book, ready to be explored.
The city is a living museum of mid-century modern architecture, with each building and estate telling its own story of a bygone era that still resonates today. Canyon View Estates offers a more accessible glimpse into the style and spirit of the 1950s, even if it’s just from the sidewalk.
Don’t Worry Darling might have brought these locations into the limelight, but their stories extend far beyond the silver screen.
Whether you’re a film fanatic, an architecture enthusiast, or just in search of some desert glam, a pilgrimage to Palm Springs offers a peek into the world that inspired the movie’s mesmerizing backdrop. So, grab your camera and a map, and set out on a journey to where history, architecture, and cinema collide.
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Inside: Proofreading is more than just catching errors; it’s an essential final touch in the writing process. If you want to turn your attention to detail into a career, allow this guide to enlighten your path to becoming a professional proofreader.
In a rapidly advancing digital age characterized by burgeoning AI capabilities, the art of proofreading remains not only relevant but fundamentally essential.
Today, proofreaders are the unsung guardians of clarity, maintaining and enhancing the rich tapestry of the written word. They are the bridge between AI’s raw computational power and the intricate subtleties of human expression. To embark on In today’s AI-driven era, the role of a proofreader is evolving yet remains an indispensable asset in the echelons of written communication.
While spellchecker tools and grammar correction algorithms, such as those embedded in Google Docs and implemented by Grammarly, streamline basic editing tasks with a click, the nuanced understanding of language intricacies still falls within the human domain. It is the human eye that captures the essence of context, tone, and the writer’s singular style—factors that AI, in its current state, is yet to fully comprehend.
Becoming a proofreader offers the flexibility to be your own boss and set your own schedule, allowing you to work around other life commitments.
With the consistently high demand for proofreading and the ability to work from anywhere, it provides both a stable career path and the opportunity to experience new and interesting careers.
This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.
Understanding What a Proofreader Does
A proofreader is a guardian of grammar, a sentinel of syntax—a final reviewer ensuring that texts are free from errors before they reach the public.
This vital role involves meticulous examination for any slips that might diminish the quality and clarity of the final product.
How do I become a proofreader with no experience?
Breaking into proofreading without prior experience may seem daunting, but it’s entirely attainable.
Initiate your journey by seeking comprehensive training, such as a proofreading course, which often includes substantial practice material to simulate real-world experience.
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What qualifications do I need to be a proofreader?
While there’s no fixed rulebook for proofreading qualifications, a command of language and a fine-tuned eye for detail are essential.
A formal certification is beneficial, but it’s your demonstrated skills and experience that will truly make you a sought-after proofreader.
How to Become A Proofreader
Breaking into the world of proofreading can transform your passion for words into a lucrative career or a flexible side job.
This section will explore the meticulous path to becoming a professional proofreader, offering practical tips to help you refine your skills, equip yourself with the necessary tools, and navigate the job market effectively. From cultivating a deep love for reading to marketing your expertise, we’ll guide you through each step to ensure your journey toward proofreading proficiency is clear and achievable.
This is how you can make 10k a month.
Step #1 – Acquiring Essential Proofreading Skills
Attention to detail is the cornerstone of proofreading, as it enables you to catch mistakes that others may overlook. Equally crucial is a strong command of the language, allowing you to navigate through intricate grammar and punctuation with precision, ensuring the text reads flawlessly.
Understanding varied writing styles and mastering style guides like Chicago, APA, and AP is pivotal in proofreading.
This knowledge ensures accuracy in diverse documents, adapts to client preferences, and maintains the document’s integrity according to recognized standards.
Make sure you are great at meeting deadlines!
Step # 2- Certification and Training for Proofreaders
Deciding on a proofreading certificate depends on your career strategy. While not mandatory, a certification can bolster your credibility, demonstrate your commitment to the craft, and may provide a competitive edge when approaching potential clients or employers in the industry.
Selecting the right proofreading course is crucial for gaining a strong foothold in the industry.
Search for programs with a balanced mix of theory and applied learning, mentorship from seasoned professionals, and ideally, one that aligns with your specific area of interest within the broad field.
Also, look for courses that help you to land your first proofreading gig. You want to see any typo fast!
Transcript Proofreading
Get the step-by-step guide Caitlin Pyle used to build a thriving at-home business making a full-time income!
A booming legal industry means that transcript proofreaders are in higher demand than ever…
Step #3 – Building Your Proofreading Toolkit
Every proofreader needs a reliable set of tools. Essential software includes Microsoft Word for detailed editing, Google Docs for easy collaboration, Grammarly for grammar checks, the Hemingway App for readability improvements, and McGraw Hill’s Proofreading Guidebook as a comprehensive reference.
Crafting an efficient proofreading process is key to maintaining high standards of work.
This involves systematic reading for different types of punctuation errors or grammar mistakes, employing tools strategically, and setting up checklists that align with specific document requirements to ensure a thorough review every time.
Step #4 – Gaining Practical Experience
Practical experience in proofreading is invaluable as it not only sharpens your eye for detail but also builds a robust portfolio that demonstrates your ability to handle diverse materials. Many people start with a blog.
It provides tangible proof of your skills to prospective clients, showcasing your efficiency in enhancing various texts, which is often more convincing than theoretical knowledge alone.
Formal Education vs. On-the-Job Experience: Formal education in English or communication can provide foundational knowledge, but isn’t always required for proofreading roles. On-the-job experience develops the practical skills needed to succeed in the field.
Volunteering and Internship Opportunities: Volunteering and internships offer valuable experience and are a practical approach to entering the publishing industry. Seek opportunities for content editing for student publications, small businesses, or nonprofit organizations to hone your skills and grow your professional network.
Practice with Real-world Editing Exercises: This prepares you for client work. Utilize resources like Purdue Writing Center’s exercises or the Chartered Institute of Editing and Proofreading’s quizzes to test and refine your abilities in a practical, hands-on manner.
Step #5 – Marketing Yourself as a Proofreader
Marketing yourself as a proofreader is pivotal in attracting clients and establishing a steady work stream in a competitive industry. It is the key to building brand awareness and showcasing your expertise, differentiating your services in the crowded marketplace.
Creating a Professional Resume and Portfolio: To present yourself as a credible proofreader, craft a resume highlighting relevant skills and experiences. Include a portfolio showcasing a range of proofreading projects. If you’re starting, include testimonials and detail any related training or certificates to demonstrate your commitment and competence.
Networking and Leveraging Online Platforms: Utilize platforms like LinkedIn to connect with industry peers and potential clients. Participate in forums and proofreading groups to stay informed and visible in the community. Engaging actively online can lead to valuable opportunities and collaborations.
Delve deeper into your craft with advanced courses and stay updated on language trends. Embracing niche specialization, such as legal or technical documents, can heighten your expertise and attract a more specific clientele.
Step #6 – Finding Freelance Proofreading Jobs
For entry-level proofreaders, platforms like Fiverr can kickstart your gig journey despite its low-cost market reputation. Check out Upwork or AngelList for a broader scope of opportunities.
Specialized job boards or proofreading service companies can also offer targeted job prospects to grow your experience.
Professional courses, such as those offered by Proofread Anywhere, can significantly enhance your skills, thereby increasing your likelihood of securing clients.
Step # 7 – Setting Competitive Rates and Billing Clients
Determining competitive rates for your proofreading services involves accounting for your skill level, the complexity of the work, and industry standards.
According to Proofread Anywhere, those who are starting can expect to earn around $0.03 per word, while proofreaders with a few years of experience often earn around $0.10 to $0.15 per word.
Remember to underscore value over price to clients, and utilize professional invoicing software for billing.
For many, this provides a great life-work balance for those wanting to make money as a stay at home mom.
Learn the Skill to Proofread Anywhere
Are you passionate about words and reading?
If so, proofreading could be a perfect fit for you, just like it’s been for countless of my readers!
Learn how you can create a freelance business as a proofreader.
Step #8 – Scaling Your Proofreading Career
Scaling your proofreading business involves more than just honing your skills; it requires a strategic approach to marketing to attract a broader client base. By concentrating on active marketing techniques like networking and reaching out to potential clients, you can accelerate the growth and scalability of your proofreading services.
Transitioning from freelancing to business ownership requires deliberate planning and goal-setting. You must establish a realistic timeline and create a comprehensive business plan outlining services, target clients, and marketing strategies.
Don’t forget to consider also the administrative and financial duties that come with business management.
Also, continuous skill improvement is critical to staying competitive as a proofreader.
FAQs
No, a degree is not a prerequisite for becoming a proofreader. Various paths lead to a career in proofreading, and while some positions may require a degree, many others prioritize skill, precision, and practical experience over formal education.
According to Proofread Anywhere, a proofreader can earn an annual salary of around $53,733 per year. However, the salary depends on experience, skill, niche, and who you work for.
But with the right strategies, the potential to earn more is significant, especially for skilled freelancers.
Without experience, focus on platforms offering entry-level proofreading jobs such as Fiverr, Upwork, or FlexJobs. Networking can also be a powerful tool; let your personal and professional contacts know you’re offering proofreading services. Finally, consider volunteering to build your portfolio and gain references.
Now, How to get Proofreading Work?
Embarking on a journey to become a sought-after proofreader can be significantly streamlined by enrolling in the Proofread Anywhere course.
By choosing this comprehensive program, individuals gain access to expert knowledge and practical tips from someone with proven success in the industry.
Not only will the course equip you with the essential skills needed to identify errors and enhance text quality, but it also serves as a springboard for securing gigs and establishing a thriving freelance business.
Additionally, Proofread Anywhere connects you with a network of like-minded professionals, which can be invaluable as you navigate the competitive field of proofreading. Set yourself apart from the competition by starting with a course that offers a direct route to proficiency and professional recognition in the proofreading world.
If you are looking to make 5000 dollars fast, this is a great method.
Know someone else that needs this, too? Then, please share!!
Did the post resonate with you?
More importantly, did I answer the questions you have about this topic? Let me know in the comments if I can help in some other way!
Your comments are not just welcomed; they’re an integral part of our community. Let’s continue the conversation and explore how these ideas align with your journey towards Money Bliss.
For those who feel liberated by small apartment living but are having trouble strategically organizing in a way that makes your place feel tidy, this article is for you. Whether you just leased a Seattle apartment or are looking at apartments for rent in Naples, Florida, expert organizers offer their best insights to help you keep your belongings in order and readily accessible.
While the task may initially feel tricky, Barbara Metzel with Professional Organizing Plus says a small apartment requires “creativity and smart organization” influenced by a “minimalist approach.” Now, let’s get started.
1. Begin by decluttering
Initiate your organization journey by decluttering. Streamline possessions and keep only what is essential. This foundational step sets the stage for an efficient and visually pleasing living environment.
Founder of Selma Organizer, Mariselma Goncalves, shares how “a great way to achieve serenity, especially in a small apartment where every inch counts, is by organizing and decluttering.”
The act of decluttering, however, isn’t done once and then forgotten about until the stacks pile up. In her blog, Tacoma, Washington’s professional organizer and owner of Clear Spaces Organizing Co., Ashley Nariman, shares how “the most valuable thing you can do is to develop a regular habit of decluttering.” She recommends “adding a purge session to your calendar every 4-6 months to keep clutter in check.”
By decluttering and “reducing the number of items in a space,” Aaron Traub, owner and lead organizer of My Professional Organizer Dallas, shares that a space can be “more functional and serene.”
2. Utilize clear containers
Opt for transparent storage solutions to quickly identify contents. Clear containers provide a visual inventory and lend a sleek and uniform appearance to your storage areas, maintaining a sense of order and simplicity.
Professional organizer Bethany Van Dyke shares how clear containers can be utilized in spaces such as kitchens or bathrooms “to house perishable food or bathroom items” that were previously in bulky packaging that took up unnecessary space.
Mary Beth Bartlett and Megan McDowell with Rooms to Breathe recommend “transferring board games and puzzles into zippered mesh pouches and filing in a large open bin” to save space. Additionally, the duo suggests to those with craft stations “unboxing markers, crayons, glue sticks, and other art supplies and putting them into a divided turntable.”
3. Vertical space
Unlock valuable vertical real estate by installing shelves and organizers on walls. Embracing verticality optimizes space utilization, freeing up floor space and allowing a visually striking display of your belongings.
Creative consultant and designer for Organize Create Design, Tracy Broeckel, shares how “floating shelves and pegboard paired with hooks and baskets can free up valuable floor space.” With Half Full Organizing, Stacy Stevens adds that implementing these items can “offer function and double as décor.”
Sarah Kary, certified professional organizer with From Mess to Blessed, shares how command hooks can be versatile in what they are used for. She adds that they are “renter friendly” and great for “hats, jewelry, kitchen utensils, stringing lights, dog leash, and art and décor.”
When organizing vertically, Taylor Miller, founder of Orderly Interiors, recommends investing in “behind-the-door storage shelves to neatly house laundry supplies, tools, bathroom essentials, or pantry items.” Heather Cocozza, organizing and productivity consultant for Cocozza Organizing and Design, recommends renter-friendly products such as Elfa Back of the Door Solution or iDesign Affixx Adhesive Organizer Bin for back-of-door storage.
4. Fold clothes
Master the art of efficient clothing storage by adopting the KonMari folding method. Neatly folded clothes save space, reduce wrinkles, and create an appealing wardrobe. This technique proves particularly beneficial in confined closets.
Certified professional organizer Katie McAllister with Susquehanna Closet and Garage Design shares how “jeans, athletic clothing, sweaters, scrubs, and t-shirts all do very well folded.” She also adds how the ideal spacing between shelves is 8-10 inches. This allows you to “stack a few items without creating your own Leaning Tower of Pisa.”
5. Under-the-bed storage
Transform the underutilized space beneath your bed into a storage powerhouse. Invest in under-bed storage bins or drawers that can be readily accessible but offer an organized space to stow away underused items.
Deena McNichol, owner of One Thing at a Time Professional Organizing, shares how under-bed storage is great for items such as “shoes, linens, or sweaters.”
6. Integrate multifunctional furniture
Select furniture pieces with dual purposes to make the most of limited space. From ottomans with hidden storage to convertible sofa beds, multifunctional furniture adds versatility without sacrificing style, catering to both form and function in your compact abode.
Designer sales representative for Save Our Space, Cory Viereck, recommends that those limited in closet space add wardrobes that can fit their belongings.
This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.
A lot has been written about whether now is the best time to buy stocks.
Many think that it is a good idea, and others are still skeptical. So which one should you believe?
This article will help answer the question once and for all with facts rather than opinions.
But first, let’s look at some statistics:
S&P 500 Total Returns for 2021 was 28.71% (source)
In the past 20 years (2003-2021), the S&P 500 was down three times. (source)
Over the 10 year period of 2011-2020, the S&P 500 averaged 13.9% (source)
With that said, will it be best to invest now?
Honestly, that is an answer no one can give you. And the movies about Wall Street won’t help you either.
However, you can learn to read charts become a technical analysis trader, and have a better idea of where the market is going.
The stock market is a volatile thing. It can go up or down at any time. As the statistics show, it goes up more often than down.
Is it Smart to Invest in Stocks?
The stock market is a great way to make money whether for income or for long-term investments. Plus it is a lot more accessible than you think.
With stocks on an upswing lately, it might be tempting to dive in. But do not get too excited just yet!
You must learn how to invest in stocks.
Are you ready to make money in the stock market? If so, learn the steps to start investing today.
In order to make educated decisions, it is crucial that you understand what makes stocks go up or down.
Since you might be asking yourself whether it is a good time to buy stocks after the market has been on such an upswing for several months. The answer is yes, but there are some important factors you should consider before handing over your money.
This article will discuss how the stock market works and provide you with reasons why now may not be a great time to invest in stocks as well as alternatives that could make sense for you if this is indeed a bad time to purchase them.
Read more!
What is the Stock Market?
The stock market is a system of securities, such as stocks and bonds, in which investors buy and sell ownership stakes to each other on various exchanges using money or their own businesses.
Simply put, the stock market is a place where people invest money.
There are many different ways to invest in the stock market, but one of the most popular ways is through buying stocks.
Investing in stocks is a commonly used way to make money.
In the stock market, people can buy and sell shares of companies they believe will rise in value. You can participate by investing in the stock market by buying individual shares of a company like AMZN (Amazon), investing in an ETF like VTI, or investing with a mutual fund, such as VTSAX.
One former assistant principal, Teri Ijeoma, changed her life when she left her job as an educator and become an active trader.
What does it mean when the stock market is up or down
When the stock market is up, it means that stocks have been doing well.
Conversely, when the stock market is down, it means that stocks are losing value.
You have heard the saying… buy low, sell high.
Stocks are an investment that you can purchase in order to make a profit, but the best time to buy stocks is when they are at their lowest price.
If you bought a stock for $100 and its value increased by 10%, then your stock would be worth $110. However, if you bought 20 stocks at $100 and the value increased by 10%, then your new value is $2,200. If you are trading options, then your return (and risk) is much greater.
When the market is up or down there are always going to be opportunities to make money from the stock market!
The hardest part for the novice investor is to determine when to buy and sell.
Thankfully, there is a great investing course to help you figure out how to invest in stocks and options.
Timing the Stock Market
Can you even time the stock market?
Many people are concerned with timing the stock market because of its volatility. Honestly, no one knows what the stock market will do.
As a technical stock trader, you will learn based on previous actions how the market and individual stocks may react.
When day traders or swing traders “time” the market, they are using time frames to make their predictions. Those traders who manage their risk and potential losses well will do better in the market.
For the average investor or someone going off a friend or Reddit recommendation, timing the market can be detrimental to your portfolio.
The real answer to the question, “Is now a good time to buy stocks?” is that there’s no such thing as an ideal moment. It could be a great time or it could also be terrible timing. There are too many variables and market risks which makes this decision very difficult for investors.
Too many times, investors fall into the trap of panic selling while stock prices are low and buying when stocks are high on the fear of missing out (FOMO).
That is why the common knowledge states don’t time the market.
However, I can tell you that you can time the market. If (and it is a big if) you are willing to put the time and effort into an investing education as you would going to college.
Many people have found success in timing the market.
Why investing is always a good idea
Remember earlier in this post, we stated the stock market has averaged 13.9% over the past 10 years and only had 3 negative years in the past twenty.
Simply put, that means you can make money, and investing is a good idea.
That is better than the flip side of your money sitting in the back earning slightly above 0% and when you account for inflation, your money is worthless.
The stock market is (almost) always following an upwards trajectory.
This means investors are more likely to experience gains in their investments than they would if the prices were going down. Moreover, it’s almost never a good idea to just let your money sit doing nothing for years on end because inflation will eventually force you into losing value at some point.
Instead of waiting until then and hoping for the best, focus on what you want instead of what the market is doing at any specific moment.
Must Read: How To Invest In Stocks For Beginners: Investing Made Easy
Is now a good time to invest?
This is the wrong question. The better question to ask would be “What is a good time to invest?”
It is not always a good time to invest. Before buying stocks, it is important that you do your research and have a clear purpose for investing in the first place. Once you know why you are investing, then it will be easier to answer when now might actually be a good time.
What are your goals for investing in stocks?
Are you looking to make extra money?
Do you enjoy learning about the fundamentals of your favorite companies?
Do you have the time to invest to learn about investing in stocks and executing trades?
The desire to increase your investment accounts and net worth appealing?
If you answered yes, then you are ready to start investing in stocks.
If you said no, then stick to consistently investing in EFTs or mutual funds. That is still a solid investing strategy!
The bottom line is whether you are ready to invest. The stock market will continue to do its thing whether you choose to participate or not.
Why does the stock market just keep going up?
The stock market has been steadily climbing for the long trend.
As a result, it’s important to be aware of the factors that influence how much you can profit from stocks. This includes understanding what drives stock prices and when these markets are likely to go up or down.
The reality is that there is no such thing as an “always” in investing — there will always be downturns at some point for any market, but those dips won’t last forever either.
As history proves, the stock market over time will keep going up.
Why has the stock market dropped?
This is the #1 reason why most people are terrified of investing in the stock market.
The fear of the stock market dropping and losing money. Or maybe they were burned in the previous market corrections in 2001 or 2008.
Typically, the stock market has dropped because of the following:
The global economy is going through a rough patch.
There is fear that the US may be headed for another recession.
The US is experiencing inflation that has caused the Federal Reserve to raise interest rates.
In other words, investors are uncertain about the future of the global economy and are afraid of a recession in the US, which will have a significant impact on the stock market.
Just remember, the S&P 500 has come back each time after posting a year or two of negative returns.
However, you can still make money as an investor when the market goes down! Learn how to ride that elevator up and down.
What are the best times to trade stocks?
Ask a few different investment gurus and you are likely to get a variety of answers such as:
It is best to trade stocks when the market is down and on a day with low volume. This way, you are less likely to be hit with volatility that could cause your profits to drop.
The best times to trade stocks are when the market is stable, meaning that there are few fluctuations in price. The most optimal time to enter and exit the market is during a period of low volatility.
The best time to trade stocks is when the market is at an all-time high. (very wrong idea, so don’t try this one)
Traders should try and stay away from markets when volatility or uncertainty is high.
It is important to understand the best times for trading stocks in order to maximize profits.
Overall, your trading plan will tell you the best time for you to trade stocks. Over time with practice in a simulated account, you will be aware of the best times for trading.
Your best times will be different than mine; they will vary for all of us and that is okay. We all view the stock market and read charts in our own way.
Best Stocks to Buy Right Now
What are the stocks to invest in right now? Should you buy stocks now?
Well, first of all, I am not an advisor telling you what to invest in. You are responsible for doing your due diligence.
The best stocks to buy are the stocks that you understand the best– YOUR Watchlist!
Typically, that means following 10 stock tickers and learning everything you can about how those stocks move.
Other investing gurus may tell you the best stock to buy is one that has a low price-to-earnings ratio. This is because the company has room for growth, and they are more than likely not overvalued in the market. They look for industries that are experiencing either a slowdown or an increase in competition.
Personally, I like to stick with strong, healthy companies to buy.
Many times the best stocks to buy right now are growth stocks, which have been very successful in 2021. These types of companies grow rapidly and offer significant returns on investment in a short period time frame.
What are the best stocks to buy now or put on a watchlist? These are the most popular stocks investors tend to follow:
Apple (Nasdaq: AAPL)
Advanced Microdevices (Nasdaq: AMD)
Amazon (Nasdaq: AMZN)
Meta / Facebook (Nasdaq: FB)
Nvidia (Nasdaq: NVDA)
Tesla (Nasdaq: TSLA)
More Best Stocks to Buy
When you invest in these stocks as an investor, it is important that you look for them during their good moments so that your investments will increase significantly over time and always have risk management strategies in place (BEFORE YOU ENTER THE TRADE).
Can You Afford to Buy Stocks?
There are a lot of factors that go into determining the best time for someone to begin investing or trading stocks.
The most important aspect is whether or not you have enough money at your disposal, which can be determined by your personal financial situation.
Other factors that may play a role in determining the best time to trade are whether or not the person trading has a specific investment objective, and if they have a time-sensitive need.
You need to know your long-term goals for buying stocks.
Are you buying stocks as a long-term investor or if you are buying stocks for income?
Either way, you need a solid idea of how to plan to manage your risk and maximize your profit. That is why investing in stocks is so enticing for so many traders.
Read Now: How Fast Can You Make Money in Stocks?
So, should you buy stocks now?
The current market conditions are a great time to buy or short-sell stocks.
However, there are many trading mistakes when investors place a trade.
Whether we are experiencing a bull run or heading into a bear market, there is always money to be made in the stock market. You should not question yourself is it time to buy stocks.
Regardless, you must invest the money in a solid investing education. That is non-negotiable.
If you want to go out and start buying stocks without investing knowledge, that is fine. Just do not complain if you lose more money than the only investing course I recommend. Check out my Trade and Travel review.
You must do your own due diligence when investing in stocks and finding a good time to buy stocks.
This is your investing journey!
Your journey will be different than my investing journey. That is okay because we each will find our niche and how we like to trade stocks.
Back to the original question, is now a good time to buy stocks?
Overall, you must look for the best companies to invest in. That will make you successful at investing.
Know someone else that needs this, too? Then, please share!!
Did the post resonate with you?
More importantly, did I answer the questions you have about this topic? Let me know in the comments if I can help in some other way!
Your comments are not just welcomed; they’re an integral part of our community. Let’s continue the conversation and explore how these ideas align with your journey towards Money Bliss.
Wondering how to stay at hotels for free? I have stayed in many hotel rooms for free over the years by using many of these same strategies below. Finding ways to get free hotel stays is a great way to travel on a budget or simply just save money on hotels. This can allow you…
Wondering how to stay at hotels for free? I have stayed in many hotel rooms for free over the years by using many of these same strategies below.
Finding ways to get free hotel stays is a great way to travel on a budget or simply just save money on hotels. This can allow you to go on more vacations and use your money for other things in life.
Whether it’s a fancy resort or a specific hotel brand, the trick is to know where to find these opportunities and make the most of them.
Key Takeaways
Loyalty programs are a direct path to earning free hotel stays. This is because they tend to give a free night after a certain number of paid stays. You accumulate points for each stay that you can redeem for free nights.
Credit card points can be used for free hotel stays. Many credit cards partner with hotel brands to give sign-up bonuses. By meeting the minimum spending requirements, you can earn points for free hotel stays. These points can be substantial, so choose a card aligned with your preferred hotel chain.
Earning gift cards from rewards platforms can be a way to make money to put toward free hotel stays.
Best Ways To Get Free Hotel Stays
Below are ways to get free hotel stays.
Take surveys for free hotel stays
You can get free gift cards by answering paid online surveys, and you can use these gift cards to help you get a free hotel stay.
So, this would work like this – you could get free gift cards to places like Hotels.com, Marriott Hotels, Holiday Inn, or even a Visa gift card (that you can use anywhere) as a reward for answering online surveys. You then collect gift cards until you reach the amount that you need to book the hotel that you want.
To get started, you’ll want to find a survey site that you trust. Some of my favorites are:
I recommend signing up for all of them so that you can get the most surveys possible to answer, which will then pay you with more gift cards.
There are also other apps that you can use as well to get free gift cards, such as Fetch Rewards and Ibotta.
I get free gift cards all the time, and recently, I logged into several of the accounts that I am signed up for and turned in my points. This led to me getting $275 in free gift cards. I personally like to wait until I have a lot of gift cards that I can redeem all at once.
Now, this would take a decent amount of time. You won’t get a free hotel stay in one day. But if you keep doing surveys, your gift cards will add up.
Recommended reading: 16 Real Ways To Earn Free Gift Cards (Amazon, Target, Visa)
How to get free hotel stays as an influencer or blogger
As a blogger and social media influencer, I have received many hotel stays for free over the years. From luxury hotels and all-inclusive resorts in the Caribbean to RV campgrounds and more, I have partnered with many different types of accommodations over the years.
And, I know of many other people who have received free hotel rooms through this as well.
Getting free hotel stays as an influencer means partnering with hotels and showing them why you’re valuable to their brand.
This may include sharing your hotel stay on your blog, Facebook, Instagram, Twitter, YouTube, TikTok, or somewhere else that you have followers and readers.
Here’s a quick guide on how to stay at hotels for free as a social media influencer or blogger:
Assess what you can offer. Hotels are looking for exposure and new customers, so your reach and engagement rates are important. How many people will see what you share about their hotel?
Customize your content to align with the hotel’s image and key messages.
Contact hotels professionally, usually through their marketing or PR department, and highlight how your content will benefit their visibility and attract potential customers. This is typically done through email.
Be clear about expectations – what you will provide and what you expect in return. Set deliverables, such as a number of posts, stories, or a video.
You can learn how to start a blog by taking my free How To Start A Blog Course. You can join over 80,000 people who have already taken the course. In this free course, I show you how to create a blog, from the technical side to earning your first income and attracting readers.
Travel credit card rewards
If you want to learn how to stay at hotels for free, this is one of the top ways.
I have earned several free hotel stays over the years by using the rewards points I have earned from my credit cards toward my hotel room. I’ve been using rewards credit cards for years, and they are pretty much all that I use now. It helps me save money on travel, earn cash back, and more.
A rewards credit card lets you earn points, miles, or cash back that you can use for almost free travel. These cards usually give you points that you can use for things like airline miles, booking hotels, gift cards, or cash back. You earn these rewards just by using your credit card for everyday purchases like groceries, gas, and shopping. But remember, it’s important to pay off your full balance each month to make sure the rewards are worth it and avoid paying extra for interest charges.
Here’s a quick summary to help you understand how rewards credit cards work:
Choose a credit card with rewards that interest you, like points, cash back, or travel rewards.
The card may require you to spend a certain amount, for example, $3,000 in the first 90 days, to get a sign-up bonus. Some don’t have any minimum requirement, and you can simply earn points for your purchases.
Use these points for rewards like cash back, hotel stays, airfare, or other options.
You can learn more about my favorite cards at Best Rewards Credit Cards, such as the Chase Sapphire Preferred Card (Chase Ultimate Rewards Points are the best!), Chase Sapphire Reserve, Marriott Bonvoy Boundless, Hilton Honors American Express Surpass Card, and others.
I also recommend reading How To Take A 10 Day Trip To Hawaii For $22.40 – Flights & Accommodations Included.
Note: Credit card rewards and even the best travel credit cards are not worth it if you go into debt. Remember to pay off your monthly bill in time (and the full amount) before interest charges accrue. Also, many of the good rewards credit cards have an annual fee each year on your card anniversary, so take that into account as well. So, you should always be careful!
Sign up for hotel loyalty programs
Hotel rewards programs are your way to get free stays and room upgrades. When you join these programs, you can earn points for a free night’s stay, and as you climb the levels, you can get additional benefits such as getting your resort fees waived.
Programs like Marriott Hotels, IHG Rewards Club, and Hilton Honors are free to join and sometimes give you a free night after a certain number of stays or points earned.
Some examples of hotel rewards programs include:
Marriott Bonvoy – Combines former Marriott Rewards, Ritz-Carlton Rewards, and Starwood Preferred Guest programs.
IHG Rewards Club – Allows you to earn points for stays which can be used for free nights.
Hilton Honors – Provides exclusive member deals and guarantees the lowest rates when booking directly.
Many travel booking sites also have rewards programs, such as Expedia even. These programs give valuable benefits like this to get you to book through them as much as possible so that they can make more money.
You can earn points in several ways beyond just booking hotel rooms:
Stay at hotels – Every night you stay earns you more points, with the amount varying by hotel and the rate you book.
Promotions – Look out for and register for periodic promotions that have bonus points.
Partnerships – Earn points through partners, for instance, by booking car rentals or flights with associated airlines.
Your accumulated points can be redeemed for free hotel nights, among other rewards. The number of points needed for a free night certificate varies by hotel brand, location, and the room’s price.
Find mystery shopping jobs at hotels
Mystery shop companies sometimes need secret shoppers to evaluate a hotel for them. I have seen these types of jobs pop up several times, and I have personally done a few as well.
These are typically just one or two-night stays in your local area, but it can make for a fun and free staycation.
This can be a great way to vacation on a budget.
Become a travel agent if you’re traveling with a group
If you often travel with groups, becoming a travel agent can be a smart choice. As a travel agent, you get industry discounts and may earn commissions on your bookings. To become one, you need accreditation, usually from a trusted program that teaches you important industry knowledge.
Here’s how you can benefit:
Access to discounts – As a travel agent, you can unlock special rates not available to the public. When traveling with a group, this can translate into significant savings.
Earn commissions – Booking for multiple people means the potential for earning commissions from hotels increases. This can sometimes offset the cost of your own accommodation.
Though this role comes with perks, it also means handling travel details professionally and responsibly for others. It’s not just about getting free stays; it’s also about making sure that your group has great travel experiences.
Work at a hotel
Working at a hotel can be a way to get free accommodation. As an employee, you can usually get discounts or even stay for free, depending on your job and the hotel’s policy.
This may include jobs such as working the front desk, being in management, and more.
Policies vary, so it’s important to know what’s available to you and to ask about the hotel’s policy on employee stays. For example, some hotels have a set number of free nights as part of the employment package. Plus, discounts on rooms can sometimes extend to family and friends.
Attend a timeshare presentation
Going to a timeshare presentation can lead to complimentary hotel stays.
These can sometimes be brutal, though, so if you think that you may end up buying a timeshare that you don’t need – then DO NOT DO THIS! Timeshares can be quite expensive and they are lifelong with annual costs.
But, if you think you can withstand the temptation, plenty of people sign up for these in order to get a free hotel stay all the time.
Here’s how this works:
Usually, your attendance at a 90-minute to 2-hour sales pitch is required.
Be prepared for high-pressure sales tactics, but remember you’re under no obligation to buy.
Incentives can range from free hotel stays, discounted travel, or even gift cards.
Make sure you understand the terms and conditions attached to the free stay.
If interested, consider the timeshare offer carefully. If not, politely decline and redeem your free stay or other perks.
Hotel promotions and deals
You can stretch your travel budget by taking advantage of different hotel promotions and deals to get the best room rates. Whether you travel often or are planning a one-time trip, there are several strategies you can use to get free hotel stays.
When you sign up for newsletters from your favorite hotel chains, you’ll receive emails on new promotions and deals (such as for seasonal sales on room rates) directly to your inbox. Some hotels might even offer a reward night, room upgrades, or welcome points just for joining at check-in.
Scan your grocery receipts for free hotel gift cards
Using grocery receipt scanning apps can be an easy way to earn free hotel stay rewards.
As you do your regular grocery shopping at grocery stores, these apps turn your grocery receipts into points, which can be exchanged for gift cards that can be used at different hotels.
Here’s how you can get started:
Download receipt scanning apps – Look for apps like Fetch Rewards (this is my favorite and the one that I use for every single one of my grocery receipts) that are known to offer hotel gift cards as a redemption option.
Scan your receipts – Every time you shop, take a second to scan your receipts using the app.
Earn points – Get points with every scanned receipt.
Redeem for hotel gift cards – Once you’ve earned enough points, browse the app’s reward section for hotel gift card options. Select your preferred hotel chain and redeem your points. With Fetch Rewards, you can get gift cards to places such as Airbnb, Hotels.com, Visa, and more.
While it will take some time to earn enough points, it can be a way to save some money on a hotel reservation.
Frequently Asked Questions
Below are answers to common questions about how to stay at hotels for free.
Is it possible to get a free night at a hotel?
Yes, you may be able to get a free night at a hotel through loyalty programs, which reward you with points for free night awards that can be redeemed for free nights. Additionally, some programs may give a free night after a certain number of paid stays or as a sign-up bonus.
How to get a hotel room for free?
You may get a free hotel room through loyalty programs, credit card rewards, by earning free hotel gift cards, and more.
How can I earn free hotel stays through surveys?
You can earn points by joining market research and filling out surveys on specific websites. These points might be traded for hotel rewards points, allowing you to book hotel stays for free.
Are there contests or sweepstakes that offer chances to win a stay at a hotel?
Yes, contests and sweepstakes run by hotels, travel bloggers, or travel websites tend to have hotel stays as prizes. You can start by possibly searching related hashtags on social media, such as #giveaway.
How can I travel luxury for free?
Traveling in luxury for free can be done by maximizing credit card sign-up bonuses and rewards, leveraging elite status with hotel loyalty programs for upgrades, and possibly collaborating with luxury hotels as an influencer if you have a strong online following.
How to get a free hotel room by complaining?
If you honestly had a bad stay at a hotel, you may be able to talk to management. Sometimes, they will give you a free hotel stay to make up for the bad review. But, you should never lie about a stay just to get a free room, as you can cost someone their job.
How To Stay at Hotels for Free – Summary
I hope you enjoyed this article on how to stay at hotels for free.
There are many ways to get free hotel stays, as you learned above.
Joining hotel loyalty programs at major hotel chains is a simple way to get free night rewards. These programs give you points for staying often, and you can use these points for free hotel nights.
Travel credit cards and hotel credit cards also give rewards that can be used for hotel stays.
If you’re an influencer or booking for a group, this may result in you getting a hotel stay for free. Other ways, like joining hotel promotions, being a mystery shopper, or attending timeshare presentations, can also get you free or cheaper stays at different places.
I have personally done many of the ways listed above to get free hotel stays at places in many states and countries. The stays have been great and have allowed me to save so much money over the years!
Homebuyers waiting for mortgage rates to be reduced may have to wait a few more months.
That seemed to be the message this week after the latest inflation report from the Bureau of Labor Statistics showed inflation higher in January than expected. Although that 3.1% rate was lower than December’s 3.4%, it was still more than a full percentage point above the Federal Reserve’s target 2% goal. That means today’s interest rates are likely to stay high and an expected rate cut may not now come until late spring or early summer.
It also means that today’s mortgage rates — already hovering near the highest point since 2000 — will remain elevated as well. While that’s disappointing news for many homebuyers ready to act now, it doesn’t necessarily mean that they’re out of options. There is one way that homebuyers can reduce their mortgage rate by half a percentage point and it doesn’t involve an unpredictable adjustable-rate mortgage to do so.
Not sure what mortgage rate you’d qualify for today? Find out here now.
How homebuyers can reduce their mortgage rate by half a percentage point
If you’re a homebuyer looking to reduce the mortgage rate you’ve been offered consider buying “points” to do so. Specifically, many lenders will allow applicants to purchase mortgage points to reduce their rate. This involves paying a fee to the lender either during the mortgage closing process or by rolling it into the overall mortgage loan. This fee, then, will reduce the initial rate you were offered.
So, if you purchase 0.750 points, you can reduce your mortgage from 7% to 6.625%. If you buy 0.50 points, you can reduce your mortgage from 7% to 6.50% and so on. A full point is generally worth 1% of your total loan amount.
This is worth considering for many homebuyers right now, especially now that the hope for a rate cut has been dimmed a bit. That said, it does have some drawbacks. An additional fee — no matter how it is paid — can be difficult for buyers to manage. It also may not be worth it if the new, lower rate is something that can be obtained by waiting out the market or by refinancing in the future. And you’ll be limited on how many points you can buy (you won’t be able to buy a rate down to zero, for example).
On the other hand, every dollar helps, and if you can potentially save hundreds of dollars in a mortgage loan each month, it may be worth it for you.
Crunch the numbers here to learn more.
Other ways to get a below-average mortgage rate
Mortgage points aren’t the only way to get a below-average mortgage rate.
As mentioned above, adjustable-rate mortgages may also be advantageous. These types of loans generally start with a lower rate but adjust, over time, to a higher one. But once that increase comes into play, the rate environment may have stabilized, allowing buyers to refinance into a lower, fixed rate instead.
It’s also smart to improve your credit score and profile as much as possible (remember that the advertised rates are only for those with the best credit) and you should shop around for lenders to secure the best deal. Even a mortgage rate a few basis points lower than another one can add up to major savings over the lifespan of the mortgage loan.
The bottom line
Today’s mortgage rate environment isn’t ideal, especially compared to the lows from 2020 and 2021. But, historically speaking, it’s about average. To get a below-average rate by half a percentage point or more, borrowers should consider buying mortgage points from their lender. While points may not always be advantageous, they can make a major difference in your interest rate and can be especially helpful now when the forecast for rate cuts looks less clear. But options like an adjustable-rate mortgage may also be worth it for some buyers, all of whom should improve their credit score and shop for lenders before finally committing to a specific rate and lender.
Matt Richardson
Matt Richardson is the managing editor for the Managing Your Money section for CBSNews.com. He writes and edits content about personal finance ranging from savings to investing to insurance.