If you feel like you fly the friendly skies more often than you sleep in your own apartment, then knowing the most convenient cities for a jet-setting frequent flyer is a must.
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When the name of the game is making confident connections, finding a decent airport meal and amusing yourself during a delay, this list of best airport cities will help your trips fly by.
You might want to plant your apartment homebase in one of these cities with high-flying airport service.
Quick connections (the tablet/laptop version) These days, quick connections mean a lot more than catching your next flight. In our digital world, we’re working all the time. Finding power outlets, Wi-Fi and quick download times is key. The frontrunner in this category is the Charlotte Douglas International Airport in Charlotte, NC. Charlotte is the domestic hub for US Airways, and, according to Online MBA, a great airport for business travelers because it offers some of the fastest free Wi-Fi Internet connections around (an average of 12 megabits per second, for the technically-inclined).
North Carolina must have some serious service, as well, because the Raleigh-Durham International Airport boasted an average data rate that was nearly that impressive. When you are in the Raleigh–Durham area, this is the place to get hooked up. (And speaking of connections, Charlotte also ranked #2 for best connection flights!)
Musical departures The Austin-Bergstrom International Airport in Austin, TX, offers a unique experience that fits right in with the spirit of that city. Flyers are treated to live music from local artists on five stages peppered throughout the terminal. Clearly, Austin is working overtime to earn its claim as the Live Music Capital of the World. (You must have an airline ticket, by the way, to catch the tunes here.)
Best for stress (or lack of it) SeaTac, the Seattle/Tacoma airport, is considered top-notch, according to SmarterTravel.com, for its smooth on-site experience which won’t leave you feeling terminal. Security clearance is efficient and friendly here – and there’s plenty of Seattle’s Best and Starbucks coffees to keep you awake enough to make your next flight!
Dine & dash Frequent flyers know that convenient travel doesn’t always allow for delicious meals — unless eating a cold sandwich on your lap is your idea of luxury. Fortunately there are several major airport cities that cater to tenured travelers and provide the best dining this side of the security barricade.
A recent report in Gadling ranked the best airports in which to kill time, and Atlanta’s airport topped the list for best dining. Every concourse has a conveniently-located central food court, as well as eateries peppered between the gates. While Atlanta’s Hartsfield-Jackson Airport includes the standard fast food stops, it also features savory standouts like Cafe Intermezzo, One Flew South and Paschal’s Southern Cuisine. The Atlanta airport also topped the list for amenities, dining and best flight connections.
The Atlanta airport happens to be the central hub for Delta Airlines — just one reason this airport is THE busiest in the world!
En route entertainment You’ve charged your laptop, enjoyed a tasty meal and still have an hour to kill before your next flight. Not a problem if you are in the Minneapolis-St. Paul International Airport. As you straddle the line between Minneapolis and St. Paul, you won’t struggle to find a delightful diversion. Gadling ranked this airport #2 for amenities. (Atlanta ranked #1, but we suspect it was for all that great food!)
When relaxing at the Minneapolis-St. Paul Airport, what fun and comforts do they have in store for you? Why not check out Lucky Lindy’s Video Arcade or enjoy a first-class massage chair at the XpressSpa? You can shop at fifty different storefronts around the airport and the Mall. And there are plenty of dining options to tide you over for a long flight.
Fly the greener skies The Dallas/Fort Worth International Airport scores high for its planet-friendly initiatives. The U.S. Environmental Protection Agency has invited the airport into the Green Power Leadership Club for its collaboration in getting electricity via renewable wind resources. This type of energy-saving – harnessing power from the wind — seems altogether appropriate for an airport!
Being a frequent flyer doesn’t mean you have to lead of life of frequent frustrations. Just make sure you plan a route through these top-notch airports, and you’ll be sitting pretty every time you travel. (And if you really fly a lot, living near one of these airports might be a good idea, too!)
As we journey through the era of electronic banking, the automated teller machine (ATM) plays an integral role. Acting as an electronic banking outlet, it’s a convenient tool enabling account holders to conduct financial transactions without the need for bank tellers.
This article will walk you through what an ATM is, how to use it, and how to maximize its benefits while minimizing costs.
Understanding the Basics of an ATM
An ATM is a machine that allows you to access your bank account or credit union account physically. They are designed to perform many of the same tasks that a human teller would at a bank branch. You can use an ATM to withdraw cash, deposit cash, check account balances, transfer money between accounts, and even pay bills in some cases.
In essence, automated teller machines are cash dispensers and deposit collectors, with added features for various banking transactions. But not all ATMs are created equal. There are two main types: those owned by financial institutions, such as your bank’s ATM, and independent ATMs, often found in grocery stores, restaurants, and convenience stores. The former is typically linked directly to your bank accounts, while the latter is part of an ATM marketplace network.
The History and Evolution of ATMs
The first automated teller machine was installed by Barclays Bank in London in 1967, and they have since become a staple of our financial landscape. Initially, ATMs were simple cash dispensers.
Over time, they evolved into multifunctional machines that allow customers to deposit cash and checks, check account balances, transfer money between accounts, and more. The evolution of ATMs significantly changed the way people interact with their financial institutions, offering convenience and 24/7 service.
How to Use an ATM
Using an ATM is straightforward. First, you insert your ATM card or debit card into the card reader. The machine will prompt you to enter your Personal Identification Number (PIN). This security measure ensures that only you can access your bank account.
Once the PIN is entered, the machine’s main menu will display a list of possible transactions. The options typically include withdrawing cash, depositing money, checking your current account balance, or transferring funds between accounts. After you’ve completed your transaction, don’t forget to take your card and receipt.
But remember, safety comes first when using an ATM. Be aware of your surroundings, and shield the keypad when entering your PIN to keep your bank account secure.
Understanding ATM Fees
ATM transactions often come with fees, especially if you’re using an out-of-network ATM. These fees can pile up quickly and take a bite out of your savings account. There are two types of fees to be aware of: those charged by your bank and those charged by the ATM owner.
To avoid ATM fees, it’s often best to use your own bank’s ATMs or ATMs within your bank’s network. If you frequently find yourself needing to use ATMs out of your bank’s network, it might be worth looking for a bank or credit union that reimburses ATM fees.
ATM Safety and Security
Ensuring safety while using an ATM extends beyond the physical realm. In today’s digital world, protecting your PIN and card information is crucial. If your card is lost, stolen, or retained by an ATM, contact your financial institution immediately.
Moreover, you should be aware of ATM scams, like skimming devices that can steal your card information. These devices are attached to the card reader of an ATM and can be difficult to spot, so always check the ATM before use.
Advanced ATM Features
In today’s ATM marketplace, many ATMs are equipped with advanced features. These include mobile ATM access, deposit automation, and biometric identification. Such services provide an extra layer of convenience, enabling you to complete basic transactions like checking your account balances or depositing checks without even inserting your card.
Conclusion
With the prevalence of ATMs, it’s easier than ever to access your bank account, withdraw money, and conduct other banking transactions, even when your bank branch is closed. Whether it’s a Barclays Bank or a small credit union, most financial institutions offer ATM services as part of their banking services.
While ATMs offer a convenient way to access your money, remember that you should always be aware of ATM fees and security considerations. By understanding how to use ATMs effectively and safely, you can make the most of this essential banking tool.
FAQs
What are ATM withdrawal limits?
ATM withdrawal limits vary by the bank and the type of account you have. These limits are put in place to protect the account holder from fraud. If you’re unsure of your limit, contact your bank or check your account details through online banking.
Can I deposit money at any ATM?
Not all ATMs accept deposits. Many ATMs in convenience stores, for example, only allow cash withdrawals. To deposit money, you’ll need to find an ATM owned by or affiliated with your bank or credit union.
Can I use my credit card at an ATM?
Yes, but it’s typically not recommended due to the high fees and interest rates associated with cash advances. Using a debit card or ATM card is generally a more cost-effective choice.
What is the difference between an ATM card and a debit card?
An ATM card allows you to access your bank account through ATMs for transactions such as withdrawing money, checking your account balance, and depositing checks. A debit card does all of that, plus it can be used for purchases at merchants that accept cards, similar to a credit card.
What happens if an ATM gives me the wrong amount of money?
If an ATM gives you the wrong amount of money, report the error to your bank as soon as possible. The bank will investigate the issue, which may include counting the cash in the ATM and checking the machine’s transaction records.
What should I do if my ATM card is lost or stolen?
If your ATM card is lost or stolen, contact your bank immediately to report the loss. They can cancel the card and issue a new one to prevent unauthorized transactions. It’s also a good idea to monitor your account for any suspicious activity.
Can I use an ATM in a foreign country?
Yes, you can use an ATM in a foreign country to withdraw cash in the local currency, check your account balance, and sometimes even deposit money. However, be aware that additional fees may apply, including foreign transaction fees and conversion fees.
What is a Bitcoin ATM, and how does it work?
A Bitcoin ATM, also known as a Bitcoin kiosk, is a physical device that allows individuals to buy and sometimes sell Bitcoin and other cryptocurrencies using cash or a debit card. They work similarly to regular ATMs, but instead of connecting to a bank account, a Bitcoin ATM connects to the internet and allows users to exchange Bitcoin for traditional currency, and vice versa.
Some Bitcoin ATMs require identification for transactions, especially for larger amounts, to comply with anti-money laundering regulations. Bitcoin ATMs can be a convenient way to buy or sell Bitcoin, but they often have higher fees than online exchanges.
In the world of personal finance, a checking account has often been viewed as the cornerstone of financial management. These accounts are the hub from which we pay bills, make debit card purchases, and handle the routine transactions of our everyday lives.
Yet, with technological advancements and a diversification of financial institutions, many individuals are seeking alternatives to traditional banks and their checking accounts.
This demand for diversity is fueled by various factors, from the inconvenience of monthly fees associated with some checking accounts to the desire for better interest rates or improved money management tools.
Understanding the Basics of Checking Accounts
Checking accounts offered by traditional banks have been around for many years, providing banking services that have become integral to our daily lives. Yet, despite their popularity, it’s essential to understand their limitations and consider why an alternative might be more suitable for your needs.
These accounts often serve as the primary tool for individuals to manage their money. You can use them to direct deposit your paycheck, withdraw cash from ATMs, and transfer funds to pay your bills. However, many traditional banking services, like checking accounts, come with a host of challenges.
For instance, many bank accounts from national banks may have minimum opening deposit requirements, monthly fees, and limitations on the number of transactions you can make within a certain period.
10 Best Alternatives to Checking Accounts
1. Cash Management Accounts
Cash management accounts, an increasingly popular alternative to traditional checking accounts, are offered by financial technology companies and brokerages. They function as a hybrid of checking and savings accounts, offering the versatility of both under a single roof.
Not being banks themselves, these companies partner with FDIC insured banks, often multiple ones, to provide these services. This partnership ensures that your money is safe and insured, a critical element to consider in personal finance.
Cash management accounts offer checking-like features, including debit cards, direct deposit capabilities, and the ability to pay bills online. They also boast savings-like features, typically offering higher interest rates compared to checking accounts at traditional banks. This dual functionality makes them an attractive option for people who want to streamline their finances and get more out of their everyday banking product.
2. Money Market Accounts
Money market accounts are offered by a wide array of financial institutions and are a kind of savings account with some checking account features. They usually come with a debit card and check-writing capabilities, allowing more accessibility to your funds compared to a regular savings account.
Although they may require a higher minimum balance compared to a checking account, they generally offer interest rates that are more competitive than those on regular savings accounts. This unique blend of features makes them a versatile option for those who can afford to maintain a higher balance.
Check out the most competitive money market accounts of 2023.
3. Savings Accounts
Savings accounts, offered by local banks, national banks, and online-only banks, are a secure alternative to checking accounts. Though they have been around for a long time, their importance in financial planning and wealth accumulation cannot be overstated.
While savings accounts do not typically offer as many transaction options as checking accounts, they often provide higher interest rates, helping your money grow over time. Some online banks offer high-yield savings accounts that offer even higher interest rates, much higher than the national average. The primary purpose of a savings account is to help you save money while earning a modest amount of interest.
Discover the best high-yield savings accounts of 2023.
5. Online-Only and Mobile Banks
In an increasingly digital world, online-only and mobile banks offer a fully digital banking experience, making them an attractive alternative to traditional banks. Without the overhead costs associated with maintaining physical branches, many online banks offer competitive interest rates on their checking and savings accounts, often significantly higher than the national average.
These banks also shine in their online and mobile banking offerings. They typically provide comprehensive app experiences, allowing you to deposit checks, transfer money, pay bills, and manage your accounts directly from your smartphone. Despite operating exclusively online, many also offer excellent customer service through various digital channels.
Find the best online-only banks and neobanks of 2023 here.
5. Credit Unions
Credit unions provide a community-oriented alternative to traditional banks. Unlike big banks, which are profit-driven, credit unions are not-for-profit organizations owned by their members. This business model allows credit unions to often offer better interest rates on savings and checking accounts.
In addition to potentially lower costs, credit unions also offer a sense of community that big banks can’t match. The services are similar to those offered by traditional banks, including savings and checking accounts, loans, and even mobile banking in many cases. Despite having fewer branches, many credit unions are part of nationwide ATM networks, providing their members with broad access to their money.
Learn about the highest-rated credit unions that anyone can join.
6. Peer-to-Peer Payment Platforms
Peer-to-peer payment platforms are not banks but offer a unique way to manage money digitally. These platforms, provided by financial technology companies, allow you to send and receive money instantly, often for free. Some even offer “bank-like” features, such as direct deposit and debit cards.
While peer-to-peer platforms might not replace a bank account for all your financial needs, they provide a convenient way to split bills, pay friends, and manage casual financial transactions.
Below are a few examples of popular peer-to-peer payment platforms:
Venmo: Owned by PayPal, Venmo is one of the most widely used P2P platforms. It’s well-known for its social media-like feed where users can share (or make private) their transaction descriptions. With Venmo, users can send money to anyone with a Venmo account using just their phone number or email.
PayPal: As one of the oldest digital payment platforms, PayPal is a widely accepted form of payment online and offers its own P2P service. PayPal users can send and receive money from other users, and the platform offers protection for many types of purchases.
Cash App: Developed by Square, Cash App allows users to send and receive money. It also includes unique features like the ability to invest in stocks or bitcoin and a free debit card that provides discounts at certain retailers.
Zelle: Zelle differs slightly in that it’s not just an app, but a service integrated into many existing bank apps. Money sent via Zelle can often be transferred directly into the recipient’s bank account instantly or within minutes.
7. Digital Wallets and Cryptocurrencies
With the rise of blockchain technology and cryptocurrencies, digital wallets are becoming a more prominent player in the financial landscape. They offer a new way to store and manage money beyond the traditional bank account.
Digital wallets can store digital currencies, such as Bitcoin and Ethereum, and also manage traditional currencies in some cases. They enable users to make online purchases, transfer funds, and even invest in various cryptocurrencies. These wallets can be accessed through a smartphone or computer, providing high convenience for the user.
However, cryptocurrencies can be volatile and come with their own set of risks, including security threats and regulatory uncertainties. Therefore, while digital wallets and cryptocurrencies offer an exciting alternative, they should be used with caution and understanding.
8. Prepaid Debit Cards
Prepaid debit cards are another practical alternative to a traditional bank account. They work similarly to a regular debit card, but instead of drawing funds from a bank account, they use the money that has been pre-loaded onto the card.
These cards can be used for purchases anywhere debit cards are accepted, and they are often reloadable. Some even allow for direct deposits from an employer or government benefits. While they may come with various fees, they offer the advantage of not requiring a bank account and providing a way to manage money with built-in spending limits.
Take a look at the top prepaid debit cards of 2023.
9. Investment Accounts
Some brokerages and financial companies now offer banking services along with investment accounts. These firms, traditionally centered around investing, have begun to venture into the personal banking space, offering services such as debit cards, check writing, and bill pay.
While not suitable for everyone, an investment account can be a viable alternative for those comfortable with a slightly more complex financial product. Moreover, some of these accounts may offer cash management features or other benefits like interest or cashback on uninvested balances, potentially giving more value than a traditional checking account.
10. Check-Cashing Services
Check-cashing services offer another alternative to a checking account, especially for those who deal primarily in cash and have fewer banking needs. These services are often provided by financial businesses that operate outside the traditional banking system.
These providers cash checks for a fee, usually a percentage of the check’s total value. While this fee can be high compared to depositing a check into a bank account, these services offer immediate access to funds, which can be beneficial for those living paycheck to paycheck.
Some check-cashing providers also offer additional financial services, such as money orders, bill payment services, and prepaid debit cards. It’s essential to understand the fee structure associated with these services, as they can be more expensive than traditional or online banking alternatives.
Key Considerations When Choosing an Alternative to a Checking Account
When looking for alternatives to traditional banks, several factors should be considered.
Fees
One of the most significant considerations is the costs associated with the account. While many online banks offer fewer fees than traditional banks, other alternatives such as cash management accounts and peer-to-peer platforms might have different fee structures. It’s essential to understand these before committing to a new financial service.
Accessibility
Consider how easy it is to access your money. If ATM access is crucial for you, make sure to understand whether your alternative choice offers this, and if there might be associated fees.
Security
Security is a crucial factor, especially with online banking services. Ensure the financial institution is FDIC insured or has equivalent protections in place. For digital wallets and cryptocurrencies, consider how to secure your digital assets properly.
Customer Service
With many online banks operating exclusively online, you might not be able to visit a branch for help. Therefore, it’s essential to consider the level of customer service provided by these alternatives.
Additional Services and Benefits
Some banking alternatives may offer additional benefits, such as high yield savings, cash back on debit card purchases, or other rewards. Assess these benefits in light of your personal finance goals and habits.
Bottom Line
The financial landscape is continually changing, with an increasing number of alternatives to traditional banks emerging. Whether you’re looking for a new place to manage your money, pay bills, or save for the future, there’s likely an alternative that suits your needs better than a checking account.
It’s almost spring, you guys. I don’t know about the weather in your neck of the woods, but that’s a welcome thought where I’m at, and I live in Texas!
(Northerners, feel free to make fun of my idea of a cold winter. I don’t care. I did not sign up for anything colder than highs of 50 degrees.)
At any rate, I’ve been on a cleaning and organizing kick, a bit of early spring cleaning, if you will. I don’t know what’s gotten into me. Maybe it’s that the days are getting a little longer and that we’ve finally had some consistent sunshine around here. And those might be the reasons we spring clean in the first place, according to TLC’s How Stuff Works:
“Ultimately, spring cleaning may have more to do with simple biology. During winter, we’re exposed to less sunlight due to shorter, often dreary days. With a lack of exposure to light, the pineal gland produces melatonin — a hormone that produces sleepiness in humans. Conversely, when we’re exposed to sunlight, our bodies produce much less melatonin. It’s possible that we spring clean simply because we wake up from a winter long melatonin-induced stupor and find more energy as the days grow longer when spring arrives. After all, it’s easy to allow a house to get a little gross around the edges when you’re sleepy.”
OK, I don’t know about gross. I am, after all, my mother’s daughter. Case in point: Last Christmas, my mother bought me a Roomba. And she did it because we had a lengthy conversation about how great it would be to have a robot vacuum for daily cleaning. In between real house cleaning, of course.
At any rate, when I awoke from my melatonin-induced stupor, I realized that my files, both physical and digital, were a bit of a mess.
Files, files everywhere
My husband and I are selling our vacant land, and we finally have buyers — yea! (Buyers who need things like our septic system design and copies of permits and title documents — boo!)
The good news was that I kept all of these things in a file folder. The bad news was that every scrap of paper related to the land was also shoved into that folder. So, I started organizing the file. That led to organizing our tax return files. Then I just did the whole stupid file cabinet.
Then I realized that some of my files live on the computer, like last year’s tax returns. But my digital file cabinet was a mess too, so I spent a few hours organizing those files.
Not so fresh and so clean
I was quite proud of my gangsta organizing skills. I labeled stuff. I purged. I digitized the heck outta some documents. My files were pristine.
But then I read a report from Experian’s ProtectMyID, and my bubble burst.
Now, as a financial writer, I get a lot of reports and studies in my inbox. I trash most of them (you’re welcome). But this one caught my attention. It was about tidying up files to safeguard your finances and your identity. And the reason that it caught my attention was that I wasn’t doing a lot the stuff they said I should be doing. Gasp! My financial house was gross around the edges!
So, I demanded some answers. Or rather, I kindly requested an interview. Here’s what I learned from Becky Frost, senior manager of Experian’s ProtectMyID.
1. Shred like Steve Vai. Spring cleaning is a good time to get rid of things you no longer need, including old documents. “You probably have documents that you no longer need to keep, like old financial statements from 1992,” says Frost.
But don’t just throw them away; shred sensitive personal documents you don’t need to keep. “If a document has your current address or an account number on it, for instance, you should shred it,” says Frost. “I highly advocate having a personal shredder at home, and today they’re pretty affordable.”
What to look for in a shredder? One that crosscuts, says Frost. “You don’t want a shredder that shreds in strips, which are easy for a thief to tape back together.”
Also, for tax documents, check with IRS.gov to find out how long you need to hold on to records before shredding.
2. As seasons change, so should passwords. Want to hear something sad? I’m so bad at remembering my own passwords that I tried using one of those services like LastPass that remembers your passwords for you. Then I somehow got locked out of that too. This was what that looked like.
So point is, I’m good at setting unique, strong passwords. I just don’t remember them. And to throw another wrench in this operation, I just learned that I need to change my passwords regularly. Double d’oh.
“We recommend changing passwords with the change of every season,” says Frost, “but that’s not something that everyone likes to do.” No, everyone does not.
But Frost had an old-school suggestion for me that she says is perfectly safe in a digital world: Write your passwords down on a piece of paper. It sounded dangerous, but she says it’s “completely fine as long as you store that piece of paper in a secure location, like a locked safe box.”
Other password tips?
Passwords should have at least eight characters, including numerals, upper and lowercase letters, and special characters.
They should never be obvious, like part of your name or your mother’s maiden name. “Unfortunately, one of the top five passwords people use is still ‘password,’” says Frost.
You should have a different password for every account.
“Also, if you’re using something like a bank app, remember to log out of the app each time and to password protect your mobile device’s lock screen,” says Frost. “Don’t give a thief easy access.”
3. Clean out your wallet. Most of us know that you shouldn’t carry your Social Security card in your wallet. If you didn’t know that, get that thing out of your wallet! Ditto for passports, birth certificates, and anything with your Social Security number printed on it.
But Frost goes a bit further, saying that we should only carry what we need on a daily basis. “If you have multiple credit cards, only carry the ones you use most often,” says Frost. “Keep the others in a safe place, which means a box or a drawer with a lock on it.”
And the lock is important. Many times fraudsters and thieves turn out to be family members, friends, or employees, and not masked bandits. “Put a lock on the drawer so you won’t give people the opportunity to commit a crime in the first place,” says Frost.
Another reason to carry the bare minimum? You might lose your wallet. That happened to my dad last week, and he had to remember what was in it to figure out whom to call and what to cancel.
So, after talking to Frost, it seems that I still have some cobwebs to clean. But what about you? Do your files and accounts need a good spring cleaning? Also, I’d like to ask for your paper shredder recommendations, if you have any!
Could you pay your mortgage, groceries, rent, insurance, medical expenses, and other bills on $2000/month? If you could, what kind of lifestyle might you lead?
Millions of retirees across America live it every day.
The Social Security Administration reports that 50% of elderly married beneficiaries and 70% of singles rely on Social Security for more than half of their monthly income. Considering that the average Social Security check is around $1361/month, this is a really tough place to be in for so many of these retirees.
And I’ve met them. Many of them.
Every year at my insurance agency, we meet thousands of baby boomers aging into Medicare at 65. We often see their shock, dismay, and confusion when they realize that the cost of their healthcare in retirement will easily eat up at least 20% to 30% of that Social Security check every month.
No matter how you slice it, even the best of the retiree budgeters out there are likely to have trouble making ends meet on Social Security income alone.
Sometimes when it comes to personal finance, budgeting isn’t the problem.
Sometimes income is the problem.
Fortunately, there’s good news on that front, because we live in an age where there are more opportunities to earn extra money than ever before. Our digital world has made this possible, and it couldn’t have come at a better time.
When you’re on a fixed income and struggling to make ends meet, a side hustle that pays you even a few hundred dollars a month can be a tremendous help.
At Boomer Benefits, we polled our Facebook fans – largely baby boomers and seniors – to ask what kind of side-hustles they are rocking out there in the real world. What we learned is that there’s a wide array of ways in which creative retirees are supplementing their Social Security income.
Today, I’ll share a few of their stories to give you some ideas for your own possible side-hustle that could potentially help to reduce financial worry and afford you a better lifestyle in retirement.
Teach From Home
Did you know that you can get paid to teach English without leaving your house? That’s right, and this is a perfect example of a retirement side hustle that exists today that would not have been possible ten years ago.
Valerie Heidel shared with us that she uses an online teaching platform called Cambly to teach English to students in Saudi Arabia, China, Japan, and even Brazil. She found this job opportunity by searching online for work from home part-time jobs. This work-from-home part was a must so that she could make her own schedule and work only when she feels like it.
What was also important to Valerie in finding a side hustle was the sense of purpose and productivity. And, because she has quite a few repeat weekly students, the job gives her spending cash. She earns $0.17 per minute that she is online with a student, which comes out to $10.20/hour.
Not bad for a job that doesn’t require her to leave her house. And this part-time gig doesn’t require a degree either. You can be approved for teaching gigs like this one in as little as two days (although for some applicants it can take up to two months).
Another retiree we spoke with shared how she used her part-time teaching income to transition into retirement. Our client Nancy was teaching full-time at one college while also teaching health courses part-time online as an adjunct instructor. When she was laid off from her full-time job unexpectedly, she was able to transition into semi-retirement by keeping the part-time health teaching.
J.D.’s note: When Kim’s father retired from teaching high-school English, he too picked up some extra cash by teaching college-level English classes online.
Nancy shared that she has a physical disability which would make it difficult for her to teach in a classroom or report to an office for work. The ability to teach right from her laptop through the school’s Learning Management System has even allowed her to work when she was hospitalized. Once the courses are created, her main duties are to respond to emails and grade assignments.
She loves that it keeps her active and says that she would be bored without this job, so she plans to continue teaching for as long as she possibly can.
Nancy shared that she and her spouse currently use her part-time income to supplement their Social Security income benefits so that they can avoid dipping into their retirement savings for as long as possible.
Takeaway: Nearly everyone has a skill that they could turn into a tutoring, teaching or mentorship position. In addition to Cambly, you can check for opportunities that fit your skills at sites like Tutor, Skooli, and Yup.
Turn Your Passion into Part-Time Income
Jeanine Handley has been a creative artist all her life and worked in graphic design. Now that she’s retired, she does remote graphic design work for clients out of her own home.
She’s also managed to turn this passion into a business right in her own neighborhood. Several years ago, when she relocated to Florida, she moved into a 55+ community. Many of the residents there are active seniors who want to learn and explore new things in their own retirement.
Jeanine noticed that many residents didn’t know how to use the camera and editing features on their smartphones. She helped one woman in her eighties with picking out a new smartphone and iPad and began weekly lessons to show her how to use both.
This blossomed into a course there in the community in which Jeanine helps to introduce other folks to smartphones and smartphone photography. She can communicate and teach these skills in a manner that other seniors understand and appreciate.
Jeanine charges a small fee for this and the money she earns helps to supplement her income and be able to afford some of the extra things like travel, entertainment, and dining out.
As an artist at heart, she doesn’t plan to ever retire this side hustle. Think about your own hobbies and passions. Could there be a way for you to turn that into an income-producing side gig?
Another side-hustler who plans to never retire is our client Billy who is a professional Santa Claus.
That’s right. Santa Claus! How cool is that for an income booster?
As a member of three professional Santa Claus organizations, Billy appears everywhere from schools and restaurants to big city events to spread the holiday cheer. He stresses that this side-hustle is one that really comes from your heart and not from the boots and suit that you wear.
He enjoys talking to children of all ages and listening to their needs. Sometimes the job can require emotional fortitude as the requests aren’t always about gifts or toys but sometimes may include a plea that Santa helps a child’s father find a job.
Yet even so, Billy admits that what he enjoys most is visiting homes of children who are either chronically ill or home-bound. These visits fulfill his heart while the side income he earns helps he and his wife to pay some of their expenses in retirement.
Being Santa can be a serious business both emotionally and professionally. Billy must pass a criminal background check each year and has regularly attended schools and seminars to perfect his craft. He’s also a member of three professional Santa Claus organizations.
Takeaway: Think about the things in your life that you absolutely love to do. Could your passion benefit someone else? How could you monetize that so that you can earn some income while performing activities that hardly feel like work at all?
Become a Contractor for Your Former Employer
When Roberta Baciak retired from working in a local school lunchroom, she felt so bad about leaving them that she volunteered to be a fill-in worker whenever they are short-staffed. They were quick to take her up on her offer, so now she works one day a week every week and sometimes gets called in on other days.
She also works from home 15 hours a week as an administrative assistance for a coffee shop and roasting company owned by her daughter and son-in-law. She takes care of their invoices, payroll, entering expenses into Quickbooks, sending statements and things like that.
Her side hustles have afforded her the ability to pay off some medical bills and to have some pocket cash to spend on little things her grandsons. She also loves the honor of helping her family with their growing business.
She plans on working as long as she can for her family and probably another year or so at the school lunchroom because she enjoys seeing her co-workers and the kids at school.
Roberta recommends that other retirees looking for side-income check with their local schools because lunchrooms are often looking for people who are willing to fill-in on an on-call basis.
Takeaway: Consider negotiating part-time employment with your last employer before retirement. You never know when they might agree! If that’s not an option, who do you know that has a business? Are there any part-time services that you could offer to them with your skills?
Get Financially Fit with Furballs
I honestly can’t think of a side gig I would enjoy more than getting paid to hang out with some fur kids. Busy working professionals are using pet sitting services more than ever – J.D. tells me he frequently uses Rover to book walks for his dog — and what’s great about this particular job is that you could work contract though a pet sitting service, or you could just post your services in neighborhood sites like Nextdoor.
This side hustle is really flexible because you can work only when you want to, and you can pet site in your own home or in someone else’s home for a little more cash.
I myself am a busy entrepreneur, working long hours at the office and frequently traveling for business. When I’m going to be gone overnight, I pay a friend’s mom, who is retired, to come and spend the night with my fur babies.
It helps me sleep at night to know that someone is caring for them, but I also know love that my pet sitter is a retiree who can really use the money to help her make ends meet. It’s a win-win for everyone.
Not sure about overnights? You could start with some day visits or dog-walking, both of which are other pet services that many working people willingly pay for.
Takeaway: This one is possibly the easiest side gig of all to get started in. Post on your favorite neighborhood app or sign up as a pet sitter or dog walker with sites live Rover or Wag.
What Will Your Next Side Hustle Be?
These are just a few of the fun and creative ways to earn extra retirement income that some of our own social media followers at Boomer Benefits have shared with us. No matter what type of work you used to do, there are endless opportunities for new things that you can do once you are retired to supplement your income from Social Security and investments.
If teaching or pet sitting aren’t your thing, check out our post on 50 Ingenius Ways to Earn Money in Retirement for additional inspiration. You might also check out Ryan Helms’ Hustle to Freedom podcast, which is one that I’ve referred dozens of people to when they’ve shared that they want to work part-time but aren’t quite sure doing what.
The key is understanding that our digital world really does make it easier than ever to put a few extra dollars in your pocket each month and sometimes just that little bit makes all the difference.
Mastering your checking account is a crucial piece of the personal finance puzzle. In the mix, there’s a tricky bit that often gets missed: the returned check. So, what’s a returned check, and why should you keep an eye out for it? Let’s dive in and break it down.
Defining a Returned Check
A returned check, often synonymous with a “bounced check“, is a check that has not been honored by a financial institution due to a variety of possible issues. Understanding the check clearance process is key to comprehending why checks might be returned.
When you write a check, you are essentially issuing a promise that your financial institution will pay the designated amount to the recipient’s account. If, for any reason, your financial institution refuses to fulfill this promise, the check “bounces” back to the issuer. This refusal often has more to do with the check writer’s account than the check recipient’s account.
Common Reasons Why Checks Are Returned
Understanding why checks are returned can help you avoid this inconvenient and potentially costly scenario. Here are some common causes:
Insufficient funds: A primary cause for returned checks is insufficient funds in the check writer’s account. If your checking account doesn’t have enough money in it to cover the check amount, your bank or credit union will likely return the check. While sometimes this might result from an honest mistake, such as forgetting to account for an automatic payment, it’s always best to double-check your account balance before writing a check.
Post-dated checks: If a check is cashed or deposited before the date written on it, your financial institution may decide not to honor it and return it instead. While this largely depends on your bank’s policies, it’s always safer to avoid issuing post-dated checks.
Stop payment order: A check can be returned if the check writer issues a stop payment order. Essentially, this order instructs the bank not to pay the check. While a stop payment fee might be incurred, this could be a useful step if you believe there might be a problem with the check.
Closed account: A check drawn on a closed bank account will always be returned. If the check writer’s account has been closed for any reason, no payments can be issued from that account.
Signature mismatch: Financial institutions verify the signature on the check with the one on file at the bank. A discrepancy here might lead to a returned check.
Frozen account: An account might be frozen due to legal issues, ongoing fraud investigations, or other such reasons. In such scenarios, the financial institution will not honor checks drawn on the account.
Invalid check details: Clerical errors like an incorrect account number, routing number, or check number could cause a check to be returned.
The Consequences of Having a Check Returned
Beyond the inconvenience and potential embarrassment of having a check returned, there are several serious consequences to consider:
Bank fees for the sender: If you write a check and there aren’t sufficient funds in your checking account to cover it, you’ll likely face a non-sufficient funds (NSF) fee or a returned check fee imposed by your financial institution. These charges vary but can often be substantial.
Bank fees for the recipient: The check recipient’s bank may also charge a bounced check fee if a check is returned. This can create friction between the recipient and the check writer and potentially jeopardize their relationship.
Impact on your credit score: A returned check can lead to a dip in your credit score if not resolved quickly. In some cases, the recipient may report the bad check to credit bureaus, which can negatively affect your creditworthiness.
Legal consequences: Continuous patterns of writing bad checks can potentially result in legal trouble, with laws varying from state to state. Depending on the amount of the check and the laws in your jurisdiction, it could be classified as a misdemeanor or a felony.
Dealing with a Returned Check as the Check Writer
If you’ve inadvertently bounced a check, you should take immediate steps to rectify the situation. The first thing to do is contact your bank or credit union to understand why the check was returned and discuss the fees you might owe, such as the NSF fee or stop payment fee. Your financial institution is a critical partner in resolving these issues, even if the bounced check was due to an honest mistake.
Next, reach out to the check recipient. Open and honest communication can help prevent misunderstanding and maintain trust. Arrange to pay the amount owed, which could involve writing a new check if you now have sufficient funds in your account, or exploring alternative payment methods if necessary.
Dealing with a Returned Check as the Check Recipient
On the receiving end of a bounced check, it’s essential to contact the check writer directly and inform them about the issue. They may not be aware of the situation, and a simple conversation might be all it takes to get the issue resolved.
However, if the check writer doesn’t cooperate or rectify the situation, there are legal measures you can take to recover your funds. Remember to account for any associated fees you might have incurred, like the bounced check fee.
How to Prevent Returned Checks
Having a check returned is a stressful situation that most people would prefer to avoid. By following these practical tips, you can minimize the chances of facing returned checks:
Maintain sufficient funds: Keep track of your account balance and ensure there are enough funds to cover any checks you write. This involves being aware of any pending transactions that may affect your account balance.
Regularly monitor your account: Stay updated with your checking account activity. Most banks and credit unions provide online and mobile banking services that can help you keep an eye on your account balance and transactions.
Use overdraft protection: Overdraft protection services can prevent bounced checks by automatically transferring funds from a linked account to cover the check amount. While there may be associated fees, they are often less than overdraft fees.
Consider alternative payment methods: Given the evolution of digital banking, there are numerous alternative payment methods you can use. These include online transfers, debit cards, and personal loans, all of which offer different benefits and levels of convenience.
The Pros and Cons of Writing Checks
In today’s fast-paced, digital world, it’s important to understand the pros and cons of writing checks. While checks can be convenient for large transactions, they carry risks such as potential returned check fees and the need to maintain a sufficient balance in your checking account at all times.
Compared to other forms of payments, such as debit cards, electronic transfers, or personal loans, checks require a more active role in personal finance management.
Bottom Line
Understanding the dynamics of a returned check and how to avoid them is crucial for sound personal finance. By ensuring there is enough money in your checking account, actively monitoring your account, and considering alternative payment methods, you can avoid the inconvenience and potential financial and legal troubles associated with returned checks.
Remember that while mistakes can happen, habitual bounced checks can lead to serious consequences. Stay proactive, keep an eye on your account balance, and consider overdraft protection or alternative payment methods. Your personal finance journey is sure to be smoother if you take these precautions.
Inside: Learn why appreciation matters and how to express it in a more meaningful way. Also, find ways and gifs to say I appreciate you. We appreciate you.
Have you ever been told how much or many things someone has done for you, but it just felt like the person was trying to get something from you?
I know I have.
In a perfect world, we would all be appreciative of what others do for us and those who care about us in our lives. We should never forget that there are people out there doing the best they can with their time and energy (not always easy) because they love us unconditionally.
When you say thank you, it means the world.
People are quick to forget how important people in our lives really are and don’t appreciate them enough. But all that changes when we show appreciation for others; not only do they feel appreciated, but their lives start to revolve around us even more!
In fact, giving thanks and showing appreciation will make you happier (source).
So, how exactly do you say I appreciate you and truly mean it.
What is appreciation?
Appreciation is a feeling of gratefulness for what has been received.
It can be directed towards people, things, or events. When we feel appreciated, it fills us with warmth and happiness. We may find that our attitude and outlook on life become more positive as a result.
The meaning behind the words is powerful.
Why is appreciation important?
There are many reasons why appreciation matters.
For one, it makes the person who is being appreciated feel special and valued. It also helps to build closer relationships between people. When we’re appreciated for our efforts, we’re more likely to try harder next time and to be motivated to do our best.
Furthermore, appreciation can help to smooth over any misunderstandings or hurt feelings that may have arisen previously.
We need to let people know when we do things wrong and apologize for it–and we also need to express our gratitude for the good things they do.
Most importantly, appreciating others makes the world a better place!
There are many reasons why appreciation matters, including the following:
It makes people feel good about themselves and appreciated.
It strengthens relationships.
It motivates people to do more.
It helps people feel more secure in their jobs.
It increases loyalty and commitment to the organization.
It encourages people to go above and beyond the call of duty.
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.
What are some ways to show appreciation?
There are many ways to show appreciation, and you can choose what type of appreciation best suits the person.
Expressing gratitude is important because it lets someone know how much they mean to you.
A thank you note is the most common form of appreciation. Other popular examples of ways to show appreciation include hugs, small gifts, or flowers.
Any act of service is also a good way to show appreciation.
How can appreciation improve our relationships?
When we appreciate someone, it makes them feel good. It shows that we care about them and that we value their presence in our lives. When we take the time to express our gratitude in a thoughtful way, it can really brighten someone’s day and make them feel special.
There are many ways to show appreciation, but some of our favorite methods include sending small gifts, expressing interest in what the other person is saying or doing, and simply asking the recipient what they would like most.
No matter how you choose to do it, being appreciative is a great way to improve any relationship!
A small gesture can go a long way.
In fact, expressing gratitude will improve your relationship.
Ways to Say I Appreciate You
There are many ways to show appreciation for someone, and it often depends on your relationship with that person.
Tell them you appreciate something they did or said.
Here are ways you can verbally say I appreciate you:
“Thank you.”
“Thank you so much.”
“You really came through for me and helped me out.”
“I am so grateful for you.”
“You don’t know what this means to me.”
“I appreciate you taking the time for me.”
“You are so generous.”
“You are so thoughtful.”
“You are amazing.”
“Wow, I am speechless.”
There are thousands of ways to say “I appreciate you.” The key is in your delivery of the message. Non-verbal communication is more important than the words that come out of your mouth.
Here are some other popular ideas to show you appreciate someone:
Write a heartfelt letter (or email) expressing your gratitude.
Thank people in person.
Give them a pat on the back or high five.
Bear hugs are always loved!
Make a donation in their name to a charity they support.
Organize and participate in an activity they love, such as a picnic or game night.
Create or contribute to an online tribute or memory book.
Put together a photo album of cherished memories.
Invite them to lunch and listen closely to what they say.
Give them an unexpected gift, such as a book, a favorite candy bar, or flowers.
Give them their favorite food as a treat.
If someone does something extra for you, thank them and show appreciation.
Saying “thank you” is a small gesture that can have a big impact. It costs nothing but it conveys a lot of appreciation and respect.
How can we show appreciation to our family and friends?
Showing appreciation to our loved ones is one of the most important things we can do as humans. Fortunately, there are many ways to show gratitude, both big and small.
Here are a few examples:
Say thank you! A simple “thank you” goes a long way.
Write a thank you card. This is a more personal way of showing your appreciation. Use this list of reasons I love you.
Bring flowers. Flowers brighten up any space and bring a sense of hope and peace.
Cook or clean for someone who needs it. This act of service often leads to a positive response from the recipient, making both parties happy in the end.
Run errands. Additionally, small gestures like helping someone out with errands can also relieve some stress.
Take care of children/elderly parents. This is an easy way to help someone out and say thanks.
Encourage them FI. Many people are confused about financial freedom. Show them how to FI.
Share appreciation quotes on social media or in conversation. There are lots of great quotes out there about being grateful, so find ones that resonate with you and share them with your friends and family.
Talk about a time when someone showed you appreciation in a meaningful way. When we take the time to reflect on moments where we felt appreciated, it makes those moments even more powerful.
Our community is our friends and family. These are the people that will be with you through thick and thin. So, make sure to show appreciation to them the most and the most often!
How can we show appreciation at work?
There are many ways to show appreciation at work with your co-workers. Some people might prefer words of gratitude, while others may appreciate a gesture or gift.
No matter what someone’s preference is, there are plenty of ways to show appreciation in the workplace.
One way to express gratitude is through different actions that include words, gestures, and gifts. Here are some work-specific examples:
Say “thank you.” Words are powerful
Write a thank-you note or email. Simple and great way to show your appreciation.
Bring up the appreciation during a meeting. Another way to acknowledge someone’s hard work is by simply acknowledging it–for example, if a co-worker does something for you, say “thank you.”
Send a Gem Award. Many companies offer small bonuses to recognize other employees for a job well done. Nominate them.
Motivate with Quotes. Take one of the millionaire quotes to show appreciation and keep everyone motivated.
These small acts help increase team velocity and morale, making the workplace more pleasant for everyone involved.
How can we show appreciation to our employees?
Showing appreciation for employees is a great way to build a positive work environment and express your gratitude. It also helps keep morale high and lets employees know that they are valued members of the team.
However, it’s important not to take your employees for granted–be there when they need you and do something special every once in a while to show how much you care!
Make it clear that you value their contributions.
Give them a shout-out in front of the group.
Tell them you appreciate their hard work and dedication.
Find ways to give employees more responsibility and autonomy at work.
When you have a meeting, ask people to say one thing they like about other employees.
Show them the importance of becoming financially independent.
Thank people for doing a good job on a project or task by giving them more challenging opportunities to grow in the future.
Tell them how their work has made a difference in your life.
If you have to criticize, do it privately and only if necessary.
Make sure they know you are there to support them.
In the workplace, giving gifts can be misconstrued so make sure you focus on being a supportive leader and boss. Also, you can always bring in lunch or breakfast for the whole team.
By showing appreciation to your employees, you will cut down on those good excuses to miss work.
I appreciate you in Spanish
As I’ve mentioned before, each language has different ways of showing gratitude. In Spanish, there are a few phrases that are commonly used to say “thank you.” Some of these common phrases include “gracias,” or “muchas gracias;” which mean “thank you” or “thank you very much.”
It is important to use the right phrase depending on the situation and who you are speaking to.
To say I appreciate you in Spanish, you would say:
te aprecio
If you wanted to really express your gratitude even more and say, “I appreciate you very much.”
te aprecio muchísimo
Learning another language is a great skill. In fact, many people have had great success with Rosetta Stone.
How to Respond to I Appreciate You or We Appreciate you
Acknowledge the person when they do something nice for you–even if it’s just picking up some milk from the store on their way home from work. Touching base regularly allows both parties to feel appreciated and strengthens the relationship over time.
It is important to give a thank you back when someone does something nice. It is also important to acknowledge their work and show that it’s appreciated. When receiving gestures such as this, it’s important to show appreciation by saying “I appreciate you” in return.
Does I appreciate you mean I love you?
There is no one-size-fits-all answer to this question, as the meaning of “I appreciate you” can vary depending on the context.
However, in general, saying “I appreciate you” usually means that you are grateful for that person and what they have done for you. It can also be seen as a sign of appreciation and respect.
Saying “I appreciate you” can be a difficult thing for some people. It might feel like they are saying “I love you” and that can be a scary prospect for some.
However, appreciation is an incredibly important emotion and it should not be withheld.
There are many ways to show appreciation, including, but not limited to, verbal compliments, thoughtful gifts, and kind deeds.
For those in a close relationship, “I appreciate you” could also mean “I love you.”
I Appreciate You Gifts
Many people turn to gifts to say I appreciate you.
It is the easiest way to say thank you.
The whole world wants to tell their recipient that they appreciate them.
These I appreciate you gifts are perfect for any person in your life!
Here are the best gifts to show a recipient you appreciate them:
These are for the husbands, boyfriends, and significant others – specifically written for the guys in mind.
Perfect gifts to say I appreciate you to all of the women in your life!
I Appreciate you GIF
Okay, I will be honest with you! Personally, I love using GIFs! Like. all. the. time.
I find them some of my favorite ways to express what I truly mean. We live in a digital world, so you might as well explore my top 10 favorites I appreciate you gifs.
Also, this is where you can find them when sending a text message to others.
I Appreciate You Quotes
Being grateful is one of the most important things we can do for ourselves and for those around us. It helps us to stay positive, build strong relationships, and feel happier overall.
Here are a few of the most popular I appreciate you quotes:
“What would I do without you in my life.”
“Your thoughtfulness will always be remembered.”
“Words cannot express my feelings, nor my thanks for all your help.”
“As we express our gratitude, we must never forget that the highest appreciation is not to utter words, but to live by them.” – JFK
“You cannot do a kindness too soon because you never know how soon it will be too late.” – Ralph Waldo Emerson
“Never let the things you want make you forget the things you have.” – Anonymous
“Thank you for staying by my side even though I tried to push you away.”
“Thank you for accepting me as I am, with my virtues and defects.” – Jenni Rivera
“When I count my blessing, I count you twice.”
“There’s no possible way, I could ever repay, How I wish, there were more I could do, But, I thank you my friend, my friend to the end.” – Jim Thistle
Write handwritten notes expressing your gratitude by starting off with one of these I appreciate you quotes. This is the best way to show someone how much you appreciate them!
We appreciate you in our everyday lives
Showing appreciation is a key way to maintain healthy relationships with the people around us. It can be difficult to know how to show appreciation, especially if we don’t feel comfortable putting our feelings into words.
However, there are many ways to show appreciation, and it’s important to find what works best for both the giver and the recipient.
Some gestures that show appreciation are small, such as sending a thank-you card or mentioning that you appreciate something the person has done for you. Other actions can be more personal, such as touching farewell letters to colleagues who are leaving your company or those who have passed away.
And finally, there are everyday expressions of gratitude that we can all do in our lives.
Humans have an innate need to feel appreciated, and when someone hears a few words of kindness, they get an energy burst that makes them feel good.
Know someone else that needs this, too? Then, please share!!
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While coverage options, insurer availability, affordability and customer experience are often the top priorities, Bankrate also analyzed each insurer’s online and mobile resources for policy management and claims handling. Insurance is rapidly evolving to keep pace with our digital world, so these aspects also carried weight in determining Bankrate Scores.
One of the fundamental premises of the Get Rich Slowly philosophy is that by making sacrifices and smart moves now, you can create a better life in the future. It’s a philosophy of deferred gratification.
But what if you don’t want to wait to enjoy life’s rewards? What if you want to take advantage of opportunities while you’re still young? Is there a way to do this while still maintaining a smart approach to money?
Timothy Ferriss says there is.
In The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich [my review], Ferriss describes creative approaches to career and retirement. He advocates taking radical action to increase your productivity, which in turn gives you more time to do the things you really want. It almost sounds crazy — and it may not be for everyone — but the book’s ideas are helping me to mold my lifestyle.
Ferriss recently agreed to field questions from Get Rich Slowly readers. This interview will appear in two parts. Today he shares thoughts on productivity and lifestyle design. In the second part — to be published at an undetermined point in the future — he’ll discuss new notions of retirement.
J.D. Kathleen writes: “I loved the stop-dreaming-and-do-it attitude of the book. But Ferriss comes from a starting point of already having a successful company and his goal was for it to not consume him. This doesn’t speak much to the majority of us who are trying to reach a point where we can keep afloat without selling our souls to the 9-to-5 gods. I would love to hear his thoughts on how to achieve freedom without that starting point.”
Tim It’s true that I had a business, but it’s important to note that The 4-Hour Workweek is actually an examination of case studies, including employees and even single mothers.
“Lifestyle Design” as an alternative to retirement-based career planning is much like investing: there are dozens of options, each customized for your individual situation and risk tolerance. The first objective isn’t going to be tangoing in Buenos Aires or scuba diving in Japan — it’s eliminating unpaid overtime on the weekends and evenings. Small steps, no matter the situation, sum up to enormous changes and uncommon lifestyles. Step one is defining your ideal lifestyle based on the associated costs.
J.D. Some people have complained that a four-hour workweek is impossible based on their situation or their job. “How do you work a four-hour workweek in retail?” asks one of my readers. “We have two small children,” writes another. “How can we take baby steps to a freewheeling lifestyle, and how free can we realistically be? Any tips, insights or examples of families taking Tim’s advice?”
Tim The vast majority of readers who write in with stories like “I just took the first four-week vacation in ten years” have families. Jen Errico from the book took a five-month around-the-world trip with her two children in tow, and there are many similar examples. In fact, there are entire blogs created by mothers and fathers who are using the 4HWW principles of lifestyle design.
In the retail example, it’s true that some jobs and positions will not allow for time abundance, and for such situations, there is a process for killing your job and upgrading your work-life ratio instead of killing your career. Lifestyle design is a buffet of options. I don’t expect anyone to use time the way I do — I’m an extremist. I expect people to create time and use it as they see fit, whether sitting in a hammock with their kids or racing Lamborghinis on the autobahn. I’ve seen both.
J.D. Many critics of The 4-Hour Workweek have focused on the Automation section. Some don’t like the notion of virtual assistants, for example, and they’re not convinced that everyone can automate their income. Are these specific details important? Can your system function without them? What are other approaches could people consider?
Tim Having a virtual assistant or exploring personal outsourcing (“offchoring”), as amazing as it is, is not required at all. Like I said, the book is a buffet of options. I don’t expect anyone to use all of it. Pick and choose to optimize your situation. That said, let me make a couple important points on personal outsourcing.
$10 USD buys groceries for a week for someone in Bangalore. I pay my assistants there $5-15 per hour. Do two hours of your friends’ (or your) wages pay for their (your) groceries for a week? Not likely — so who’s really getting paid more? This is an example of the concept of “purchasing power parity”, often called the “Big Mac index”. I’d encourage people to take a look at the research of real economists instead of the propaganda of politicians.
I’m helping to build a middle-class in the countries that need it most, while simultaneously creating new consumers of US and other countries’ goods, for example. There is absolutely no slave labor or exploitation in how I recommend using virtual assistants — none whatsoever. It strengthens the global economy.
J.D. Bob writes: “I would like to know as best he can give, what Tim’s average NON-mini-retirement day entails.”
Tim Good question.
My days almost never look the same. I ask my assistants to avoid phone calls on Mondays and Fridays, in case I want to take a long weekend on either end, and I almost always allocate Mondays for general preparation and prioritizing for the week, then any administrative tasks that I need to handle (paperwork for accountants, lawyers, etc.).
I put very few things in my calendar, as I do not believe most people can do more than four hours of productive work per day at maximum, and I loathe multi-tasking. For example, my day tomorrow looks like this, with items in my calendar preceded by an asterisk (*):
10am — get up and eat high-protein breakfast of 300-400 calories (I’m typing this at 2:22am, as I do my best writing from 1-4am)
10:30-12* — radio interviews and idea generation for writing (note taking)
12:30 — lunch in a restaurant of organic beef, vegetables, pinto beans, and guacamole (I have this almost every day. Here is my diet.)
1-5pm* — write piece for very large economics publication (I’m not writing this whole time, but I block out this period)
5pm* — review my designer’s latest updates on planned blog redesign
5:30pm — first dinner
6:30-8:30pm — Brazilian jiu-jitsu training
9pm — second dinner
10pm — ice bath and shower
11-2am — chill out and do whatever, probably reading for enjoyment or drinking wine with friends
Before you ask “but what happened to the 4-hour workweek?!” realize that the goal was never to be idle. I hate laziness and make this clear in the book. The goal is to spend as much time possible doing what we want — by maximizing output in minimal time. I don’t have to do anything in this schedule. I choose to do them because I like them. None of them are financially-driven. If the chance to do something fun comes up last-minute, I can cancel all of them. This is true time-freedom.
J.D. One of my favorite tips in your book — I have it heavily underscored in red ink — is “emphasize your strengths, not your weaknesses”. Explain this concept. Why is it so important?
Tim It’s very simple. If you try and fix all of your weaknesses, you will be — at best — mediocre at most things you’re inherently poor at. This is inborn talent or weakness. Progress is incremental when you attempt to fix all the chinks in the armor.
Focus on leveraging and amplifying your strengths, which allows you to multiply your results. Fix any fatal weaknesses to extent that they prevent you from reaching your goals, but perfection isn’t the path to your objectives; finding ways to cater to your strengths is. This is also, for example, how you end up documenting and showing improved results to your superiors if you need to negotiate things like remote work, flex-time, paid time off, etc.
J.D. I also like your notion of a low-information diet. How does one cultivate selective ignorance? What is the value in it?
Tim Information consumes attention. In a digital world, you then have the potential for infinite minutiae and interruption. Consuming and organizing the excess deluge of data is not a scalable or sustainable model, so we look instead at the only viable option: strategic elimination.
How do you check e-mail once per day or once per week? How do you reverse the self-defeating impulse to “stay informed” and instead catch up when action requires it vs. keeping up? Selective ignorance is one of the few common traits among the top performers I’ve interviewed. Learn to single-task and accept that — ironically — limiting your options is often the best method for improving your results and outcomes.
Timothy Ferriss, nominated as one of Fast Company’s “Most Innovative Business People of 2007,” is author of the #1 New York Times, Wall Street Journal, and BusinessWeek bestseller, The 4-Hour Workweek. The second part of this interview will appear at Get Rich Slowly sometime in the future.