Here’s a bright idea — it’s time to work smarter, not harder on your holiday lights this year. Smart LED lighting not only allows you to create festive lighting you can control, but it can also save you money on your electric bill.
We’ve found top-rated, customer-loved smart holiday lights that can be used to showcase the colors and lighting effects you want on your Christmas tree, Christmas wreath, outdoor holiday decor and more. Plus, most of our smart light picks can be controlled using your smartphone. How genius is that?
Christmas home decorating ideas using smart lights
Transform your entire home into a holiday wonderland that your family, friends and neighbors will love. Let’s take a look at amazing smart lighting options that make decorating your home for the holidays super simple.
Philips Hue Christmas Festavia 65′ string lights
Even Santa would approve of decorating your Christmas tree, as well as the inside and outside of your home, using Philips Hue Festavia 65-foot smart string lights.
Each string includes 250 individual mini smart LEDs that are app controlled and can work in conjunction with all other Philips Hue smart lighting products that use a Philips Hue Bridge (sold separately or as part of a smart lighting kit).
The Festavia string lights are also available in a 130-foot length that includes 500 individual mini lights ($360). Both sets can be set up to sync with your favorite holiday music.
A smart Christmas tree: Mr. Christmas Vermont Spruce
One of the best decisions you can make this holiday season is to adopt smart lighting in all aspects of your Christmas decorating, starting with the Christmas tree. The Mr. Christmas Vermont Spruce is seven feet tall with a 48-inch diameter. It comes with 400 mini-LED smart lights built into the artificial tree, allowing for quick and stress-free setup. The lights can be voice-controlled via Alexa, enabling you to instantly change the lighting color or lighting mode
In addition to all white or multi-colored lights, you can opt to have all of the lights display just red, green, blue, light blue, yellow or purple. Lighting modes include steady, sparkle, firefly, flip and fade. You’re also able to create a schedule for the lights to turn on and off, or switch between colors and scenes automatically.
A flexible and customizable decorative light string: Govee Christmas lights
For your indoor or outdoor holiday light decorating, the Govee Christmas lights are an affordable alternative to string lights. However, these offer just as many customization options.
This 66-foot-long string light set includes 200 mini-LEDS that are fully programmable. Because it’s IP65 rated, this light strip can be used indoors or outdoors. The flexible string can be wrapped around a tree, staircase, fence or pillar. It can also be hung around the edge of a ceiling, around a doorframe, or on any wall. Use your creativity to discover unique ways of using these bright and colorful smart lights throughout your home.
Once set up, the Govee Christmas lights can be programmed to display your choice of 16 million colors, using a variety of pre-programming lighting effects. The lights can even sync with whatever music is playing. There are 99 pre-set lighting scenes to choose from. You have full control over these lights (and all other Govee smart lighting products) using Alexa voice commands or the easy-to-use Govee mobile app (for iOS and Android-based devices).
If you’re looking for more traditional holiday string lights, but want to control them using a smartphone app, we suggest these Twinkly Strings smart lights. The 65.5-foot string includes 250 mini-LEDs, each of which can display more than 16 million colors, so you can decorate your home with beautiful light and color.
Using the Twinkly mobile app, it’s easy to control one strand of string lights or multiple strands at the same time. This means all of the lighting can sync perfectly within each room or area of your home. Using the app, you’re also able to create a schedule to turn the lights on and off, have the lighting change colors or patterns at predetermined times, have the lights sync with the music that’s playing, or instantly switch to a light color and pattern that you want. The lights also accept voice commands. Because they’re waterproof, you can set them up indoors or outdoors.
While it’s possible to set up multiple 65.5-foot Twinkly Strings lights to work together, there’s also a cluster version of the lights that includes 400 mini-LEDS on a 19.5-foot strand. This variation allows you to create different visual effects using a larger number of smaller LED lights (within a smaller space) that can also display over 16 million colors.
Offering yet another way to decorate the outdoor areas of your home, Govee offers its permanent outdoor lights package. Throughout the year, these lights can brighten a porch, terrace, or front door area of your home with bright decorative white lights. During the holiday season, these same lights can transform your outdoor space with holiday colors and animated light sequences.
These smart lights come in 100-foot strands that contain 72 LED eaves lights that are waterproof and controllable using the same Govee mobile app that works with all of the company’s smart lighting products. The lighting set also responds to voice commands via Alexa or Google Assistant.
Each of the lights can alternate between 16 million user-selectable color options and together showcase any of the 75 pre-programmed scenes that are accessible via the app. Each light has a maximum brightness of 26 lumens. Since these lights are designed to be attached permanently to the outside of your home, special VHB glue and clips are provided.
Holiday wreaths with integrated smart lighting: Twinkly pre-lit wreath
Using the same mobile app that controls other smart lighting products from Twinkly, you’re able to control the 50 mini-LED lights that come pre-wired within this artificial holiday wreath that has a two foot diameter.
The smart lights within the wreath can display more than 16 million colors in a variety of customizable or pre-created lighting patterns. The app is available for iOS and Android mobile devices.
The wreath’s lighting responds to voice commands via Alexa or Google Assistant. To coordinate perfectly with this wreath, your Christmas tree and other holiday decor, Twinkly also offers a nine-foot, pre-lit garland ($115). It utilizes 50 fully controllable smart mini-LEDs and works with the same app.
Decorative smart lighting you can use all year long: Nanoleaf Shapes
Nanoleaf offers a variety of decorative smart lighting products. Most come in a collection of flat tiles that get hung on a wall in whatever pattern you choose. This LED lighting kit includes nine hexagon-shaped tiles that are app-controlled. Each tile can display more than 16 million colors. Using the Nanoleaf app, you’re easily able to choose from hundreds of pre-created animated light patterns, have the lights sync with music, or display whatever color(s) and patterns you want.
Throughout the year, Nanoleaf Shapes can add decorative ambience to any room, but during the holidays, the lights can mimic the Christmas lights strung throughout your home or on your tree.
If nine hexagon-shaped titles isn’t enough, expansion kits with hexagonal and different size triangle-shaped titles are sold separately. What we love about these smart light products is that you can mix and match the Nanoleaf tiles and create whatever pattern you desire on your walls. Then you can choose the colors and animated light patterns that are displayed at any given time. Each tile sticks to the wall using removable mounting tape that’s supplied.
Use regular light fixtures to display holiday lighting: Philips Hue A19 LED smart bulb starter kit
One of the great things about the Philips Hue home smart lighting ecosystem is that there are literally dozens of options to choose from, including stand-alone light fixtures with color-changing smart bulbs built into them, smart light strips, decorative lights and replacements for recessed ceiling lights.
The expansive Hue product line also includes standard A19 LED light bulbs that can replace the traditional light bulbs within your existing light fixtures. Doing this transforms those light fixtures into smart lights within minutes.
To take advantage of the Philips Hue smart lights, you need to either purchase a Hue Hub (that’s sold separately) or acquire the necessary hub as part of a Hue Starter Kit.
We recommend the Philips Hue A19 LED smart bulb starter kit because it includes the required hub, along with four standard size (A19) light bulbs that can be used within any of your existing light fixtures. Once this starter kit is set up, you can easily add any additional Hue smart lighting products (including more A19 bulbs, which are sold separately) to your home and control them all using the same Hue mobile app.
Each A19 smart bulb can display many shades of white, as well as more than 16 million colors. And in addition to selecting the colors, you’re also able to set each bulb’s brightness. The lights can be controlled one at a time, in groups within a single room, or you can use the app to control all Hue lights at once. Using a few on-screen taps or voice commands, it’s possible to create customized lighting scenes or choose from thousands of pre-created animated scenes –- including many that are holiday-specific.
Upgrade your artificial Christmas tree: Fraser Hill Farm 12-foot flocked Christmas tree with smart lights
This holiday season, make things easier on yourself with two simple moves. First, swap out the real tree for a super-realistic artificial Christmas tree – no more fussing with the live ones. Second, bring some smart lighting magic to your tree to make it the ultimate holiday showstopper.
Meet the Fraser Hill Farm 12-foot flocked Christmas tree with built-in smart LED lights. It’s a breeze to set up, and it stands at 12 feet tall with a 76-inch diameter. If that’s too big for your space, don’t worry – Fraser Hill Farm offers similar artificial trees in 6.5′, 7.5′, or 9′ heights.
This tree has 5,483 lifelike, flocked tips that give it the charm of a traditional cut tree. It’s designed to last for years and dazzle you every holiday season. Plus, it comes with a bunch of cool lighting options to suit your mood.
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Jason R. Rich
Jason R. Rich (www.JasonRich.com) is an internationally recognized consumer technology expert with more than 30 years’ writing experience. He’s also an accomplished author and photographer. One of his most recently published books, The Remote Worker’s Handbook: How to Effectively Work From Anywhere ($24.99, Entrepreneur Books) is now available from Amazon and wherever books are sold.
Mortgage rates finally caught a break last week after steadily rising throughout much of 2023.
The 30-year fixed fell about a half a percentage point in the matter of a week as softer economic data eased inflation concerns.
At the same time, the Fed left its key policy rate unchanged and signaled it could be done raising rates.
Now, investors are hoping the next policy move is a rate cut, as data is expected to continue to cool into 2024.
Taken together, that could mean a return to more palatable mortgage rates in 2024.
Lower Mortgage Rates Before the Presidential Election?
The president and CEO of the nation’s top mortgage lender, United Wholesale Mortgage (UWM), is bullish on mortgage rates next year.
During his monthly 3Points video, former college basketball player Mat Ishbia said he expects mortgage rates to drop before the election.
The election in question is the 2024 Presidential Election, which takes place on Tuesday November 5th, 2024.
“And I think it might even happen sooner like March, April, May,” he said in the video.
But how much lower will rates fall? Well, that’s another story, as a return to 3% mortgage rates likely isn’t in the cards.
Same goes for 4% rates, and maybe even 5% rates. However, that doesn’t mean smaller improvements can’t be impactful for the struggling mortgage industry.
“We’re talking about dropping to 5 and a half, 6, even 6 and a half,” he added. “And it’ll be a massive refi opportunity.”
It’s possible we’ll see a return of rate and term refinances if mortgage rates drop enough relative to the rates obtained by home buyers over the past year and change.
Assuming some of these borrowers took out high-7 or even 8% mortgage rates, there might be a case to be made if rates return to the low 6%s or high 5%s.
Generally, you want at least a 1% reduction in mortgage rate, though there isn’t a hard and fast refinance rule of thumb.
Lower Mortgage Rates Will Also Unlock Existing Housing Inventory
Ishbia also noted that beyond the refinance opportunity, there will be more inventory next year as interest rates fall.
“But beyond that, even more purchases, more inventory will open up.”
This speaks to the mortgage rate lock-in effect that has stifled the existing home market.
In short, homeowners with 3% mortgage rates have their hands tied, as moving to a new home at current prices with a 7 or 8% rate just doesn’t pencil.
But if rates come down to more reasonable levels, some of these homeowners will be financially able to sell and move, or will simply be OK with taking on a higher payment.
Rates aside, he believes home purchase lending volume will increase, referencing a recent Fannie Mae forecast.
Fannie expects 2024 home purchase loan origination volume to increase 10% to $1.44 trillion.
Meanwhile, they believe mortgage refinance volume will rebound to $456 million, nearly double the dismal $250 million anticipated for this year.
The refinance share is also expected to rise from around 16% this year to 24% next year.
There Is No Mortgage Rate Rescue Plan Coming…
Lastly, he dispelled the idea that some sort of mortgage rate rescue plan was going to materialize.
“That’s not going to happen.” We think the market is what the market is and that we’re going to see things happen as we’ve expected.”
About a month ago, industry groups including NAR and the Community Home Lenders of America lobbied Treasury Secretary Janet Yellen and Fed Chairman Jerome Powell.
They pointed out that mortgage rate spreads relative to the 10-year treasury yield had doubled in recent months.
Typically about 170 basis points, they have exceeded 300 bps for a while now, putting even more pressure on mortgage rates.
In a letter, the groups proposed a plan to allow Fannie Mae and Freddie Mac, on a temporary basis, to purchase their own mortgage-backed securities (MBS).
And/or purchase Ginnie Mae MBS (those backing FHA and VA loans) for a defined period of time.
Additionally, they called on the Federal Reserve to maintain its stable of MBS and suspend runoff until spreads normalized.
It seemed to fall flat as it would completely contradict recent action by the Fed to tackle inflation, which arguably was caused by an overly accommodative rate environment.
In a nutshell, the ultra-low mortgage rates were how we got into this mess to begin with, so lowering them again may actually do more harm than good.
Sure, there’s a happy medium in between 8% mortgage rates an 3% mortgage rates, and the hope is we’ll get back there in the next year or two.
But if rates come down too quickly, or fall too low, you’ve got the bidding wars again, unhealthy demand, and so on. That’s not good for anybody long-term.
Flying with small children, especially babies, can be extra stressful. There’s often more to bring with you when you fly and more preparations to make beforehand, and many airlines have different policies when it comes to traveling with an infant. Here’s everything you need to know about the Southwest Airlines infant policy so you can travel prepared.
Flying Southwest with an infant: Age restrictions
If you’re traveling with Southwest Airlines with a baby, a lap child or lap infant is at least 14 days old, but under 2 years old. They will not be occupying their own seat, but spending the duration of the flight on an adult’s lap. A child 2 years or older will need their own ticket and their own seat.
Because there’s an age restriction, you may have to prove how old your child is, so bring along an original or photocopy of either a birth certificate, passport, or government-issued ID card. A screenshot or digital copy won’t be accepted.
If you’re asked to prove the baby’s age at any point in the trip and you can’t, you may be forced to purchase a full-price ticket. However, after you return home, you can submit valid proof of age to Southwest via email and request a refund.
Southwest baby policy: Fees and boarding passes
The Southwest infant policy doesn’t require babies to have their own boarding pass, but they will need a boarding verification document, which can be printed out at a check-in kiosk or check-in counter on the day of travel. It’s definitely not a bad idea to arrive a few minutes early to the airport to make sure you have everything you need in hand before you head through security.
The good news is that lap infants travel free on domestic flights, which make up the bulk of Southwest routes. On international flights, taxes and fees will likely be imposed and a more official ticket issued for your child.
Flying with an infant on Southwest: How to book
First, you’ll need to let the airline know you’ll be carrying an infant. To do so, search for flights as usual on Southwest.com, but when you select how many passengers will be traveling, make sure to select the number of lap infants traveling in addition to adults.
After you select your flights, when you get to the “who’s traveling” section, type in all the adults’ info as well as the child’s.
If you plan to book a flight for you and a lap infant with Rapid Rewards points, you’ll have to call the airline to do so. You’ll also need to call or visit a Southwest agent at the airport to make changes to a reservation that includes a lap child after you’ve completed the booking.
As long as you’re flying domestically, you can add a lap child to an existing reservation at a self-service kiosk at the airport. You can also update the baby’s date of birth, gender and name, as well as print a boarding document at a kiosk.
Flying with an infant on Southwest while breastfeeding
Nursing mothers will be pleased to know that in addition to the typical carry-on allowance (one carry-on and one personal item), those who are breastfeeding may carry an extra bag for a breast pump and breast milk.
Do keep in mind, though, that there aren’t typically outlets on board Southwest planes, so you may not be able to use electric breast pumps.
As for how much breast milk or liquid formula you can carry onboard, TSA considers the liquids medically necessary, so you can travel with more than the typical 3.4 ounces per container. Just let the TSA agents know you’re traveling with nursing liquid and they may have you remove them from your bag to be screened separately.
Boarding tips for flying Southwest with an infant
Since there are no assigned seats on Southwest flights, those with young children or lap children will want to be at the gate a few minutes before the start of boarding so they can board the plane together during family boarding.
This happens after boarding group A is called and allows up to two adults to board with small children — at least one has to be 6 or younger. This provides families with a few more precious seconds to get situated and a better chance at securing seats together if you’re in boarding group B or C.
Bottom line
The Southwest Airlines infant policy is straightforward from booking to boarding. You’ll just need to ensure your lap child is included on your reservation, bring all the proper documentation, take advantage of the airline’s unique boarding system and then enjoy the journey.
How to maximize your rewards
You want a travel credit card that prioritizes what’s important to you. Here are our picks for the best travel credit cards of 2023, including those best for:
California’s population of homeless veterans has plateaued despite billions of dollars in state spending to create housing for former military service members. Now, Gov. Gavin Newsom wants to shift the state’s resources to focus on veterans with serious mental health conditions.
$6.4 billion mental health bond he’s sending to voters in the March primary election, would set aside funding specifically for veterans with serious behavioral health conditions.
That’s a shift from California’s last two major efforts to fund housing for veterans, both of which created units for a general population of former military service members.
The first effort began in the late 1990s, when the state built seven new veterans’ homes over a period of 17 years. Today those veterans homes are underused. They were built to house about 2,400 people, but only 1,575 veterans live in them. The 300-unit veterans home in Barstow was so underutilized in 2020 that Newsom moved to close it as he braced for a pandemic recession, although lawmakers blocked him from shutting the site.
The second push centered on a pair of ballot measures voters approved in 2014 and in 2018 that allocated $4.6 billion to build housing specifically for former military service members. The money created the Veterans Housing and Homelessness Prevention Program, which has supported the construction of about 3,250 housing units for veterans to date.
Veterans advocates and state officials view the programs — along with federal efforts led by the Department of Veterans Affairs — as successful in reducing homelessness among former military service members. In the last 12 years, veteran homelessness in California has decreased by more than 30%.
But the trend in California mostly accounts for gains made during the Obama administration, when veteran homelessness peaked nationwide and the Department of Veterans Affairs moved aggressively to place former troops in housing. Since 2014, the number of homeless veterans in California has mostly plateaued around 10,000 to 12,000 people, according to annual counts released by the Department of Housing and Urban Development.
Alex Visotzky, senior California policy fellow at the National Alliance to End Homelessness, said the high numbers of veteran homelessness result from the challenges veterans face on returning home in California’s competitive housing market.
“When housing markets are unaffordable and incredibly competitive, those with the greatest needs are going to be more likely to fall out,” he said.
Newsom’s new strategy in the mental health bond, advocates say, should help those most in need. The California Department of Veterans Affairs estimates that half of the state’s unhoused veterans suffer from some kind of behavioral health issue.
The money in the bond would go to the state’s Department of Housing and Community Development, which would work with CalVet “to focus specifically on housing veterans experiencing behavioral health challenges,” said Assemblymember Jacqui Irwin, the Thousand Oaks Democrat who wrote the bill that ultimately put the bond on the ballot.
Studies have shown veterans are overrepresented in the nation’s homeless population. They may experience personal challenges, such as post-traumatic stress disorders or other mental health issues as well as disabilities related to their military service.
“Transitioning from that very specific culture and society to civilian life is a lifelong process,” said Amy Fairweather, director of policy at the veterans advocacy group Swords to Plowshares. “If you do have any physical or mental disabilities, dealing with those and trying to re-enter civilian life can be very difficult.”
Napa County as the state’s first veterans home. That site is still in operation, housing around 600 veterans on a picturesque property in wine country.
Altogether, the state now has eight veterans homes. The two largest homes are in fairly remote communities — one is in Napa County’s Yountville and the second is in Barstow in the Mojave Deserts. Moving to them can mean living at a long distance from a veteran’s family. That geography somewhat limits interest in the homes.
The homes account for the lion’s share of CalVet’s $650 million annual budget. Some advocates have called on the state to put money into programs that would benefit people who don’t necessarily want to live in a veterans home.
“The state should keep its promises to the current home residents, but as things change, the program needs to be less structured on just providing room and board for a very limited number of people and more structured on providing skilled nursing facility care for those who need it,” said Ethan Rarick, executive director at Little Hoover Commission, which published a report on the veterans homes in 2017.
Outside of the veterans homes, California approved a series of bonds meant to help military service members find housing beginning in 2008. The Veterans Bond Act, passed that year, provided $900 million to veterans through the CalVet Home Loans Program.
In 2014, California passed an initiative creating the Veterans Housing and Homelessness Program, which put $600 million toward building multi-family homes for veterans. A second ballot initiative in 2018 gave another $4 billion to the program.
The federal Department of Veterans Affairs, meanwhile, has kept up steady funding for housing vouchers that can provide a place to live for former troops. The Veterans Affairs Supportive Housing program, commonly known as HUD-VASH, was a centerpiece of the Bush and Obama administration’s efforts to curb veterans’ homelessness. It provides rental assistance to over 100,000 veterans nationally.
A steep drop in veteran homelessness
The number of homeless veterans in the U.S. peaked in the Great Recession, when the VA in 2007 reported some 154,000 former troops were homeless.
At that time, Fairweather of Swords to Plowshares said many of those deployed in the Iraq and Afghanistan wars were starting to come back home “to a society that wasn’t prepared for it.”
On top of that, they and older veterans struggled in the economic downturn, which led to more unemployment and homelessness.
“It all came together in a way that was really disadvantageous to the veterans,” she said.
Last year, the VA estimated about 33,000 veterans were homeless nationwide. According to the 2021 annual homelessness assessment report by the federal Department of Housing and Urban Development, more than half of them are over age 55. The data also shows that Black veterans are more likely to be homeless than veterans belonging to other races.
Advocates say veterans can be reluctant to ask for help.
“When veterans ultimately fall down that hole into homelessness, what is happening along with that is that they’re losing connection with friends and family, because they’re ashamed that their life is falling apart and it’s hard for them to ask for help,” said Stephen Peck, president of the veterans support organization U.S. Vets.
San Francisco native and Army veteran Latoya White has struggled to stay housed in the dozen years since she left the service. She has found it difficult to afford rent even though she was able to keep decent jobs at a grocery store, the San Francisco airport, and now as a city bus driver.
She was unfamiliar with the resources the VA offered to veterans, like housing vouchers.
“I’ve always had benefits through my job. I don’t think that then the VA had as many resources as they have now. I did go to the VA and they’re so limited on what they could help me with. So, you know, I just went and got a job and I just was really self sufficient,” she said.
After sleeping in her car and couchsurfing for several years, White reached out for help from the advocacy group Swords to Plowshares. That led her to transitional housing, and then to an apartment in San Francisco this June through the HUD-VASH program.
“A lot of us didn’t even know anything about the HUD-VASH program,” said White, 34. “A lot of veterans don’t even know that there is assistance out there for them.”
What does Newsom want to do?
Putting the money into the mental health bond comes with a tradeoff.
In advancing Newsom’s mental health plan, lawmakers amended an early version of Assemblymemer Irwin’s veterans’ housing bill that would have issued more bonds for the existing veterans’ housing program. Without new funding, the program that supports construction of multi-unit veterans’ housing is expected to run out of money in 2024.
Still, representatives for Newsom’s ballot measure in a written statement said the bond would create more capacity to help former troops.
“Proposition 1 adds new money for California’s most vulnerable veterans without any redirection or reprioritization from the current program. Without Proposition 1, there would be zero funding for homeless veteran housing moving forward, which is why the measure is so critically needed,” the statement read.
All together, the ballot measure going to voters includes $6.4 billion to fund projects for behavioral health issues and those at the risk of homelessness. It also includes a proposal to adjust how the state spends money it collects for mental health services from a tax on personal income over $1 million, aiming to direct more of the money to housing.
The $1 billion for veterans housing will be distributed in the form of loans and grants by the Department of Housing and Community Development.
Representatives from veterans’ groups say the program’s success could hinge on getting the word out, and providing services that provide a path out of homelessness.
At U.S. Vets, Peck said the nonprofit strives to create a community where veterans help veterans.
“Building that community is really important,” he said. “A federal veteran who’s been through the process already is probably more effective than we are as social workers.”
Gibson, who currently lives in transitional housing provided by Swords to Plowshares, has started to find that community through the nonprofit.
“I talked to them about how I’m struggling with some issues and they are pretty open and supportive about it,” she said.
Gibson hopes that federal and state services fund more community-oriented programs like hers, so more veterans are able to feel like they are home.
Supported by the California Health Care Foundation (CHCF), which works to ensure thatpeople have access to the care they need, when they need it, at a price they can afford. Visit www.chcf.org to learn more.
Intercontinental Exchange (ICE) Mortgage Technology reported an adjusted operating income of $131 million in the third quarter of 2023, up from Q3 2022’s $126 million — despite the headwinds the mortgage industry is facing.
ICE attributed “an analog to digital conversion occurring in the U.S. residential mortgage industry” for its mortgage business outperforming in Q3 even as the industry experienced a nearly 20% decline in origination volumes.
Strong sales in its Encompass loan origination system, as well as its mortgage servicing platform (MSP) solutions business, drove an improved adjusted operating income for the mortgage technology division at ICE.
In Q3, about 60% of existing Encompass customers that were due for a renewal increased their base subscriptions. ICE expects to have its second-best year for MSP sales since 2017.
“Through October, we have already surpassed our prior full year record for new Encompass sales, which was set in 2020. In our servicing solutions business, the closing of the Black Knight transaction has unlocked the pipeline with four new MSP customers signed in October alone,” Warren Gardiner, chief financial officer of ICE, told analysts in its Q3 earnings call.
Since ICE completed its acquisition of Black Knight in September, M&T Bank has become a new customer of Encompass, replacing its existing loan origination platform and adding ICE’s data and document automation platform.
ICE also cross-sold MSP and several data and analytics products to Fifth Third Bank, an existing customer of ICE, Ben Jackson, president of ICE and chair of ICE Mortgage Technology, noted.
ICE said it doesn’t anticipate any negative impact to its Encompass business from the recent commission lawsuits if homebuyers use fewer real estate agents which, in turn, could result in loan officers losing their largest referral pipeline.
“We don’t have a business of selling leads to real estate brokers and the like. For us, our core businesses are all in and around the origination transaction itself,” Jackson told analysts.
“If anything, all of the data and analytics offerings that we have that underpin this overall platform, front to back both between ICE Mortgage Technology assets that we’ve had historically, as well as the data assets that have come with the Black Knight business, all position us very well in that space going forward,” Jackson added.
The mortgage technology division at ICE posted $330 million in total revenue in the third quarter, up about 19.6% from Q3 2022’s $276 million.
Adjusted operating expenses posted $199 million in Q3 2023, up about 32.7% from $150 million in the same period a year ago.
Looking ahead to Q4 2023, ICE expects near-term cyclical headwinds in the mortgage industry to persist.
“Coupled with typical seasonal pressures on origination volumes in the first and fourth quarters of each year, we expect the total fourth quarter ICE Mortgage Technology (IMT) revenues will be in the range of $490 million to $500 million, bringing full year pro forma IMT revenues to approximately $2.06 billion,” Gardiner said.
If you’re like most Americans, you love your plastic and swiping or tapping through your day. In fact, about 84% of Americans have at least one credit card, with the average wallet holding three.
The national love affair with credit cards is built on their convenience, how they provide a line of credit to enable buying things we can’t quite afford to pay for with cash, and those enticing rewards that are often offered.
But the picture is not altogether rosy: As a nation, US citizens have more than $1 trillion in credit card debt. And with interest rates averaging over 20%, that debt can be hard to chip away at.
To help you better understand how credit cards work, how much credit card debt people typically have, and what are smart strategies for paying down credit card debt, keep reading. You’ll learn interesting facts as well as helpful hints.
10 Facts About Credit Card Debt
Ready to learn more about credit card debt, a form of revolving debt? These 10 credit card facts will help you better understand who has how much debt and where difficulties paying the balance typically crop up.
1. More Than Half of Americans Have Outstanding Credit Card Debt
A majority of active credit card accounts carry a balance, according to the American Bankers Association. The specific figure is 56%. This indicates that carrying a balance is a common situation for many Americans, even with the eye-wateringly high interest that’s charged.
Recommended: Tips for Using a Credit Card Responsibly
2. Households with Credit Card Debt Owe an Average of Almost $8,000
American families had an average credit card balance of $7,951, according to calculations using Federal Reserve Bank of New York and US Census Bureau data. In 2013, that figure was $5,508.
Just because this is the norm, it doesn’t mean that it’s ideal: The best-case scenario is to only charge as much as you can afford to pay off in full every month. 💡 Quick Tip: A SoFi Credit Card provides access to a line of credit. It’s essentially a short-term loan that you repay each month.
3. It Can Take More Than a Decade to Pay Off $7,951 in Debt
Racking up credit card debt takes much less time than getting rid of it. Let’s assume that like the average American, you have $7,951 in credit card debt, as noted above.
At the current average interest rate of 21.19% on existing accounts, with a $150 monthly payment, it would take you 158 months — or 13 years and two months — to pay that off. And you would pay $15,606.40 in interest, or almost twice the original amount you charged!
But the more you can pay each month, the faster you’ll extinguish the debt. In this example, if you increase your monthly payment to $500, you’d pay off the debt in just a year and seven months and only spend $1,465.06 in interest. These scenarios are, however, assuming that you are not accruing new debt and therefore paying off larger credit card bills.
4. Gen Xers Have the Most Credit Card Debt
Ready for more credit card facts? Here is how age and debt intersect. Gen Xers, the generation that includes people born between 1965 and 1980, have the highest average credit card balance: $9,589. Next in line are Baby Boomers, born between 1946 and 1964, who have somewhat less debt — $8,192 on average — than Gen Xers.
5. Alaskans Have the Highest Credit Card Debt
In a state by state analysis of credit card debt, Alaska residents led the pack with $7,324 per person. Those who live in Wisconsin were found to have the lowest at $4,987.
6. 42% of College Students Have Credit Card Debt
The habit of carrying credit card debt unfortunately starts early, with more than four out of 10 college students carrying a balance on their credit cards. Of these, 28% say their debt exceeds $2,000. They say they accumulated that amount due to nonessential purchases, such as impulse buys, Uber rides, or fancy coffees. 💡 Quick Tip: To avoid paying interest, pay off your credit card bill in full and on time each month. Only making the minimum payment each month can lead to paying a lot in interest over time.
7. One in Three Americans Owes More On Credit Cards Than They Have Saved
This may be a scary fact about debt, but one in three US adults owes more on their credit card than they have saved. In fact, 36% say this is the case, versus just 22% a year earlier. That shows a two-sided problem: too much spending and too little saving.
Recommended: Paying Off $10,000 in Credit Card Debt
8. Richer People Have Credit Card Debt Longer
More interesting credit card debt facts: People who earn more than $100K a year are more than two times as likely as lower earners to have credit card debt for five years or longer. Among six-figure earners, 72% say they have had debt for at least a year vs. 53% of those who earn less than $50,000 per year. When considering those who’ve held credit card debt for five years or more, you’ll find that 27% of the high earners vs. 13% of the lower earners are in that situation.
Perhaps this statistic suggests that high-earners feel they have the means to handle debt and therefore don’t rush to repay it.
9. Men Have More Debt Than Women
Men have an average of $6,357 in credit card debt, while women have an average of $6,232. Perhaps not a huge difference, but so much for the myth of women shopaholics using credit cards to fill an overflowing closet with shoes.
There are many potential reasons for this difference, but some studies have found that women are less comfortable with debt.
10. There’s a Good Chance You’ll Die With Credit Card Debt
Here’s the last of these debt facts, and it can be a grim one: Nearly three-fourths of Americans are in debt when they die, according to one benchmark study.
And 68% die with credit credit card balances — more than the share who have mortgage debt (37%) or car loans (25%) when they pass away. That’s not exactly a desirable legacy. Although family members don’t generally become responsible for the debt, it may be taken out of the deceased person’s estate.
Why Is Credit Card Debt So Common?
There are many reasons that Americans have so much credit card debt, from rising healthcare and educational costs to lack of emergency savings to a cultural consumerism that encourages people to live beyond their means.
Regarding that last point, you may hear about the phenomenon referred to as Fear of Missing Out or FOMO spending, which is a modern version of “keeping up with the Joneses.” In other words, because your friends, coworkers, or influencers you follow on social media are buying something, you feel you should as well.
Or perhaps part of the problem can be explained by what is known as lifestyle creep. This situation occurs when you earn more money but your spending rises too, so your wealth doesn’t grow. For example, if you took a new, higher-paying job and decided to lease a luxury car or take a couple of lavish vacations, your wealth wouldn’t increase, though your credit card balance might.
Tips on Avoiding Credit Card Debt
Perhaps these facts about debt will motivate you to work on avoiding a credit card balance. If so, the following strategies could help.
• Review different budgeting methods, and find one that works for you. Many people use the popular 50/30/20 budget rule, for example. Also, see if your bank offers tracking and budgeting tools to help you rein in spending.
• Gamify savings. You might try sleeping on it rather than making impulse buys to see if the urge to spend passes; it often does. Or go on a spending freeze for a specific period of time or for a certain kind of purchase (say, no dining out in March; no clothing purchases in April).
• Try buying with cash or your debit card vs. plastic. That will help prevent your debt from snowballing.
• Consider trying a balance transfer card, which typically gives you a period of zero interest during which time you can pay down what you owe.
• In terms of a debt payoff strategy, you might investigate getting a personal loan with a lower rate than what your card charges. That could allow you to pay off the plastic debt and then have more manageable monthly payments.
• Seek help if you are really struggling to get your debt under control. Nonprofit organizations can help you accomplish this.
Opening a Credit Card With SoFi
Now that you know some facts about credit card debt and ways to pay it off, you may be looking for a new card that better suits your financial and personal goals. Shopping around to compare features, such as interest rates and rewards, can be a wise move.
Looking for a new credit card? Consider a rewards card that can make your money work for you. With the SoFi Credit Card, you earn cash-back rewards on all eligible purchases. You can then use those rewards for travel or to invest, save, or pay down eligible SoFi debt.
The SoFi Credit Card offers unlimited 2% cash back on all eligible purchases. There are no spending categories or reward caps to worry about.1
Take advantage of this offer by applying for a SoFi credit card today.
FAQ
What are the main causes of credit card debt?
Credit card debt can crop up in a variety of ways. Sometimes it’s because expenses get pricier, whether due to lifestyle creep or inflation. Other times, it’s not being mindful about daily spending and making impulse buys. Given how many Americans have more credit card debt than money saved, it’s a common but challenging issue.
How much does the average person have in credit card debt?
Credit card debt facts reveal different angles on this number. The average American household has $7,951 in credit card debt. Some studies put the individual figure at $,5,573.
How serious is credit card debt?
Credit card debt can be very serious. It’s high-interest debt, and it can be difficult to pay off. It can make it hard for individuals to save for their future and can negatively impact their debt to income ratio, which can be an issue when applying for loans.
The SoFi Credit Card is issued by SoFi Bank, N.A. pursuant to license by Mastercard® International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.
1Members earn 2 rewards points for every dollar spent on purchases. No points will be earned with respect to reversed transactions, returned purchases, or other similar transactions. When you elect to redeem rewards points as cash deposited into your SoFi Checking and Savings account, as a statement credit to a SoFi Credit Card account, as fractional shares into your SoFi Invest account, or as a payment toward your SoFi Personal Loan or Student Loan Refinance, your rewards points will redeem at a rate of 1 cent per point. For more details please visit the Rewards page. Brokerage and Active investing products offered through SoFi Securities LLC, member FINRA/SIPC. SoFi Securities LLC is an affiliate of SoFi Bank, N.A.
1See Rewards Details at SoFi.com/card/rewards.
Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
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Diwali, also known as the festival of lights, is fast approaching. You may find yourself in a situation where you realise you don’t have much time to prepare your home for the celebration. But there’s no need to worry. With a little creativity and some clever last-minute decoration ideas, you can transform your home into a warm and welcoming space filled with festive spirit.
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Ready for the festival in no time? Here are 10 quick and easy home decor ideas.
1. Rangoli: Rangoli is one of the traditional Indian art forms in which beautiful patterns are created with coloured powder, rice, or petals of flowers. A beautiful and traditional touch for one’s home entrance. Select easy, fast rangoli designs.
2. Fairy lights: You will not celebrate Diwali without fairy lights. Hang them on your windows, balconies and even over your furniture for a cosy atmosphere. Additionally, you may hang the fairy lights on vertical poles to create a wonderful veil of light.
3. Candles and diyas: Nothing shows Diwali more than the cosy glare of candles and diyas. Place them around your house, scatter them on your coffee table and in the corners of the room to make it appear bewitching.
4. Decorative lanterns: You can add some class to your Diwali decorations with hanging lanterns or paper lanterns. They come in different shapes and colours depending on the colour theme of the home.
5. Floral decor: These will instantly bring colour into any room by placing fresh flowers or artificial flower arrangements. Put them in vases, bowls, or mason jars and create an aesthetic arrangement that matches the Christmas feel.
6. Wall art and decals: You can consider using wall decals or artistic festive pieces if you don’t have sufficient time. One can instantly change the atmosphere in a room just by applying them on its walls. Consider the Diwali-themed decals or traditional Indian art.
7. Floating candles: You can put floating candles in bowls or water-filled containers and create a stunning centrepiece for your dining or coffee table. They bring a sense of peace amidst all the festivity.
8. Decorative cushions and throws: Transform your home instantly for Diwali with colourful cushions and throws in bright festival colours and designs. This is easily interchangeable and/or added to already existing furniture.
9. Doorway torans: An ideal way to welcome guests is by using a traditional door hanging known as a toran. There are different types of them with various colours and styles, allowing for an option that will blend in with your interior decor.
10. Traditional artefacts: One of the things that you can do with your home this festival season includes displaying various Indian artefacts such as idols, bells, and figurines that will instantly give your home a festive look. Put them on shelves, side-tables or make a mini-altar of a spiritual tone.
These are quick and easy tips to ensure you have a ready home for Diwali without the headache of a total makeover. Diwali is celebrated as the success of light over darkness and these décor tips will help you create a warm, inviting light-filled environment to celebrate the occasion. With this, then be creative, and have a superb Diwali at your nicely decorated house. Happy decorating!
Amged Baker, a 40-year-old software developer, wanted to move to a bigger home as the Florida native transitioned into a new role at work that allowed him to be permanently remote. He also wanted more space for his two kids.
But Baker, who works for a real-estate platform, knew that it wasn’t that simple to trade up. Mortgage rates had doubled and home prices continued to rise. In his hometown of Palm Beach County, Fla., home prices soared by nearly 60% over the last five years.
He sold his previous home for $600,000, which had a 30-year mortgage rate of 2.8%. However, he was prepared to give up that rate if he could avoid paying a rate of 7%.
Baker was intrigued byassumable loans. Having refinanced his current home during the pandemic, he was keenly aware of the value of his ultra-low mortgage. He knew his monthly payments would be a lot more affordable with an assumable mortgage — and so his search began.
He’s not alone. It appears to be the housing market’s latest obsession — homeowners, buyers, and real-estate agents are all talking about assumable mortgages.
Across real-estate brokerage sites, listings boast that the home comes with an “assumable mortgage,” described in glowing terms as a “rare find,” “game-changer,” or as one buyer said on social media, “white whale.”
What are assumable mortgages?
With assumable mortgages, the loan — and, importantly, its interest rate — is passed from the seller to the buyer when a house changes hands.
With the U.S. housing market frozen by high rates and low inventory, it’s clear why people have turned their attention to assumable loans. They’re particularly appealing now because they offer homeowners a way to potentially capitalize on their pandemic-era ultra-low mortgage rate by passing it on.
Here’s the catch: Only certain types of loans can be assumable mortgages. The seller must have a government-backed home loan, which is insured by the Federal Housing Administration, Veterans Affairs, or certain loans by the U.S. Department of Agriculture.
“‘Folks don’t want to give up those assumable mortgages because they’re just as attractive to them as they are to you.’”
— Andy Walden, vice president of enterprise research strategy at ICE
These government agencies allow homeowners to transfer ownership of the mortgage to a new home buyer under certain conditions such as the new buyer having good credit, an acceptable debt-to-income ratio, and more.
For the typical home buyer today who is facing a 30-year mortgage with a rate over 7%, assuming an existing mortgage with an interest rate as low as 1.75% is an enticing proposition. It offers an alternative to buying points — fees a borrower pays the lender to cut the mortgage rate on their home loan — or taking out an adjustable-rate mortgage, which comes with its own risks.
For the seller, an assumable mortgage presents another feature to play up when listing their home. There is also, perhaps, some comfort in knowing that their ultra-low interest rate will be inherited by the buyer.
Assumable mortgages were popular in the 1980s
“For the last 40 years, rates have been falling, so nobody cared about assumability,” said Tod Tozer, former president and CEO of Ginnie Mae. “So we’re basically back to the future — we’re back to 40 years ago when 30-year mortgages were close to 13%, 14% back in 1981. And they’ve been falling ever since.”
Ginnie Mae securitizes all FHA, VA, and USDA mortgages for the secondary market. Tozer has also written about assumable mortgages being a “solution” to today’s frozen housing market, as the seller will be able to “receive top dollar for the sale of their home,” and move to another place.
Assumable mortgages were popular in the 1980s when mortgage rates were in the double digits. Back then, many conventional loans were assumable. “It was the standard of the industry,” Tozer said.
But assumable mortgages aren’t as common as a conventional loan, making them hard to come by.
Based on the market today, only 12 million mortgages are potentiallyassumable, which is less than a quarter of all mortgages in the U.S., according to loan-level data from ICE. Of these mortgages, which are primarily FHA, VA, and USDA loans, about 7.2 million or 14% have a mortgage rate of below 4%.
Assumable mortgages can be difficult to find, and it can also be difficult to get homeowners to part with their loan if the alternative is to buy a house with a much higher interest rate.
“Folks don’t want to give up those assumable mortgages because they’re just as attractive to them as they are to you,” said Andy Walden, vice president of enterprise research strategy at ICE, or Intercontinental Exchange, a data company.
Additionally, even after a buyer takes over the mortgage, they will still need to cover the difference between the outstanding balance and the sale price, Walden told MarketWatch.
How assumable mortgages work
So how do they work? Imagine an aspiring homeowner views a home valued at $375,000, and the home comes with an assumable mortgage of $225,000. The buyer in this situation will need to put down $150,000 in cash, or find other financing after they assume the mortgage.
If the buyer requires secondary financing, it will likely come at a higher interest rate, which will offset some of the savings from the assumable mortgage. Nonetheless, for homeowners who are keen on selling, if they have an assumable mortgage, their house will become more attractive to buyers.
“Veterans across the country are sitting on these ultra-low rates,” Chris Birk, vice president of mortgage insight at Veterans United Home Loans, told MarketWatch. “So they’ve got this incredible marketing opportunity.”
“‘Veterans across the country are sitting on these ultra-low rates. So they’ve got this incredible marketing opportunity.’”
— Chris Birk, Veterans United Home Loans
And yet of the 69,000 VA purchase loans that his company processed in 2022, only about two dozen were assumptions.
There’s a lack of awareness about assumable loans, Jason Mitchell, chief executive of Jason Mitchell Group, a Scottsdale, Ariz.-based real-estate brokerage, told MarketWatch.
The first question real-estate agents should ask homeowners who are listing their homes is whether their mortgage is assumable. “If you can mark it as an assumable mortgage at 3.5%, you’re gonna get a better price on your house,” he added.
What happens if the new buyer defaults on the assumable mortgage?
The person who assumes the mortgage also becomes responsible for paying the loan on time. If the new buyer stops making their mortgage payments and goes into default, that does not mean the original owner will be required to pay up.
With FHA loans, “once the assumption is complete, it is a full release of liability for the previous borrower, which means the new borrower (the borrower that has assumed the mortgage) has full responsibility for all aspects of the mortgage,” a HUD spokesperson told MarketWatch.
Similarly, with VA loans, when another buyer assumes the mortgage, there is a release of liability, Birk added. The veteran who owned the home previously isn’t financially responsible if the new owner defaults.
One man’s search for an assumable mortgage
During his search, Baker, the software developer, contacted Chris Tapia, a 41-year-old real-estate broker with Compass Florida. Tapia had met Baker three years ago when the homeowner bought his first home in Palm Beach, and the pair had become good friends.
Tapia had recently introduced the idea of assumable mortgages to Baker. The agent believed that it was one key way for home buyers to take back the purchasing power they lost as homeownership became more expensive.
“Everything is so phenomenally expensive that no one can really afford anything right now,” Tapia told marketWatch.
In his quest for assumable loans, Baker specifically looked for homes that were financed with a mortgage from the Federal Housing Administration, Veterans Affairs, or the U.S. Department of Agriculture.
He then searched home listings from various online brokerages to identify those that were financed with an FHA or a VA mortgage. He also looked at services such as FHA Pros, a site that provides real-time data for FHA and VA condominium approvals.
But homeowners can also look for listings with assumable loans via Google with the following search term: site:compass.com “assumable.”
MarketWatch found several new and old listings advertising assumable mortgages in the home’s description.
Finding an assumable rate of 3.05%
Baker and Tapia attended 20 open houses in Palm Beach County.
They made four offers and ultimately closed on a four-bedroom single-family home in Palm Beach County for $620,000. Baker took over the seller’s 30-year fixed-rate mortgage, under the assumption rules.It has a 3.05% rate.
He currently holds a Federal Housing Administration loan with an outstanding balance of $324,000. As a result, he put down $269,000 in cash.
The seller had only paid off about 3 years on their 30-year loan,so Baker took it over with a monthly payment of about $1,500. He estimated that buying the home with a conventional mortgage at the prevailing rate would cost closer to $2,300 a month.
Baker closed on the home in June 2023, and because he assumed the seller’s loan he did not have to pay thousands of dollars in closing costs.
“You will be hearing about assumable loans more often,” Tapia, the broker, said.
Baker agreed. “To be honest with you, it was always a good deal — it was always better than going the conventional route,” he said.
Inside: Are you looking for ways to make money on the side? This guide has everything you need to know about the best side hustles for men. From turning your passion into profit with these gig ideas!
In this post, I collaborated with my husband. Together, we combined our ideas and expertise after work to generate ideas centered around how men specifically can make money. His input and insights were remarkably vital to this post.
Break free from the 9-to-5 grind and embark on a journey towards a fulfilling side hustle – it’s a game-changer for gentlemen looking to beef up their bank accounts.
In the ever-evolving landscape of side hustles, now is your year to supercharge your earnings. There’s a treasure trove of opportunities waiting for you to delve into, all while indulging in your passions. From tech-savvy endeavors to unleashing your creative genius and practical gigs that pay, our guide is here to unveil the ultimate side hustles that can set you on the path to financial triumph.
Ready to boost your income? Fantastic! You’re on the path to prosperity.
Here, we’ll explore the 40 best side hustles for men in 2024.
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.
Embracing the Hustle: Why Men Should Consider Side Hustles
Side hustles are more than mere cash generators – they’re the keys to a world of freedom, flexibility, and endless growth potential.
If you’re a gentleman with a hunger for financial prosperity, a side hustle can be your golden ticket. It empowers you to call the shots and maintain your existing commitments while paving your way to success.
While women tend to lean towards side hustles for women, it’s high time for men to dive headfirst into the captivating world of side hustles!
How can a guy make extra money?
Making extra money doesn’t have to be monotonous. Whether you’re a tech whizz, an avid creator, or a hands-on worker, there’s something for you.
There are so many ways to make money. I just read this story about a college kid starting with $300 and turning his sticker side hustle into a full time business. 1
These options can yield solid income by leveraging your unique skills and interests. Want to learn more? Keep reading; we have plenty of ideas for you!
Top Side Hustles for Men
As my hubby said, extra income takes the financial strain off the normal job. With side hustles, you can choose how you want to spend your time – watching sports, playing video games, or making money.
The choice is yours!
Right now, learning to make money online for beginners is the most popular place to start.
1. Invest in Real Estate
Around here at Money Bliss, we always stress how to make your money work for you and real estate is no different.
Real estate investment is a golden opportunity that not only offers a steady income but also the potential for property value to soar. Keep in mind, that it’s a long-term game that requires a significant upfront investment.
However, there are many options like flipping properties, renting properties, or even investing through a REIT. Dive into the world of real estate to maximize your returns. Let your money do the heavy lifting for you.
2. Day Trader
Many men opt for trading stocks and options as a side hustle for several compelling reasons.
Trading offers flexibility, as your research can be done at any time, making it convenient to manage along with a nine-to-five job.
It has an immense profit potential, given the volatility and opportunities present in the global stock markets.
Many want to earn a rate of return greater than the average return of the S&P 500 – a common benchmark index for that competitor inside them.
Finally, trading presents an opportunity for continual learning and development, as successful trading requires staying updated with financial news, stock apps, market analysis, and economic trends, thereby enhancing one’s financial literacy.
Trade & Travel
Learn to trade stocks with confidence.
Whether you want to:
Retire in peace without financial anxiety
Pay your bills without taking on a side hustle
Quit your 9-5 and do what you love
Or just make more than your current income….
Making $1,000 every.single.day is NOT a pie-in-the-sky goal.
It’s been done over and over again, and the 30,000 students that Teri has helped to be financially independent and fulfill their financial dreams are my witnesses…
3. Become an Umpire or Referee
Sports fans, here’s your calling! Transform your passion into a profitable part-time gig by becoming a sports referee.
There is a HUGE shortage of umpires and referees.2 Rates per game can range from $20 to $60, and over time, you can earn even more as you referee older leagues. Plus many leagues are paying more to incentivize refs to come back to the fields.
Not only does it assure good pay, but it also lets you enjoy your favorite sport, exercise, and create exhilarating moments. Check it at your local club or league for training and to get started today.
This is something my brother-in-law did all the time and easily made 200 dollars a day.
4. Participate In Medical Studies
If adding to medical knowledge interests you while earning, consider participating in clinical trials.
Compensation depends on various factors like the study’s length and complexity. You can earn $50 to $300 a day!
It’s worth considering if you’re comfortable with potential risks and lengthy commitments. Websites like ClinicalTrials.gov or your local hospital could help you get started. It’s a unique way of contributing to medical research while making money. Do check the risks before diving in!
5. Moving and Heavy Item Delivery
Feel like adding some muscle? Moving and heavy item delivery might be your perfect hustle. If you’ve got a buddy, a solid back, and a truck (or can rent one), this is the gig.
You could easily earn about $20-$25 an hour helping people move houses or delivering large items. Opt for evening or weekend gigs to fit around your day job.
Get started by advertising your services or using apps like TaskRabbit or NextDoor. An excellent way to stay fit and earn some extra dollars at the same time!
6. Rent Out Your Extra Room
Do you have a spare room? Then, transform that neglected space into a cash cow.
Airbnb or VRBO can help you lease it out to travelers. Its user-friendly platform lets you manage rentals with aplomb. Plus, you get the chance to grow into a SuperHost.
Another option is to look at investing in a duplex where you live on one side and rent out the other.
7. Woodworking
This takes a special talent like my father-in-law had. He and his boys were known for crafting Adirondacks chairs, bedroom furniture, and patio tables.
So, if you have this woodworking knack, then this side hustle could be a golden ticket. The key to success is to perfect your craft to a few select items to be efficient with your time, so, you can better the profit. Let your handyman skills shine and earn you some extra cash!
The average earnings of a woodworking side hustle in the U.S. can range from approximately $500 to $3,000 or more per month, depending on factors such as the complexity of projects and marketing efforts.
8. Beekeeping
Honey, take note! If you’re not deterred by bees and are interested in agriculture, try your hand at beekeeping. This might be a family affair – like my daughter’s soccer coach.
Honey sells for around $20 a pound, and bees virtually do all the work! Plus, you contribute to pollination and the environment.
Combined with pest control services (like removing large nests), you can amplify your earnings. However, getting comfortable with bees might take time. But, once you do, the sticky sweet liquid gold that is raw honey could put a sizeable amount of money in your pocket.
9. Detail Cars
If you have a passion for cars and cleanliness, consider detailing cars as your side hustle. There’s something gratifying about transforming a dusty vehicle into a sparkling gem.
Depending on the quality of your service, you can earn up to $500 in a single weekend! Start by experimenting with your own car and build a portfolio to attract customers.
You’ll need tools like a good shop vacuum and detailing brushes. I have seen plenty of men showcasing their work on social media with before-and-after photos. Polish those wheels and drive towards profit!
10. Landscaping Side Hustle
Armed with green fingers? Eager to perform hard physical labor? Then a side gig in landscaping can do wonders for your wallet.
From regular lawn care to fall leaf cleanup to full-on backyard redesigns, there’s something for everyone. Look to websites like Lawn Love to match you with your first clients.
Potential income for this venture depends on how many hours of your time you are willing to trade.
11. Drive for Ridesharing Apps
Like to drive? Awesome, do it for cash! Ridesharing apps like Uber and Lyft got you covered.
Be your boss, and work on your terms.
You need to make sure you have a nice car, proper insurance, and learn the busiest routes to maximize your earnings. Do pay heed to your vehicle’s wear and tear, though. However, this is one of the jobs that pay weekly.
12. Snow Plowing
Living in a snowy region? Consider snow plowing. This is a quick way to make money! I can attest to my kids quickly making $200+ a day from snow shoveling.
Even better is to have business clients that need this service. As such, all you need is a reliable truck or SUV with four-wheel drive and a snowplow. Plus, you can upsell by offering extra services like salting and hand shoveling.
This lucrative side gig can result in you earning thousands each winter. It’s an opportunity to put your vehicle to good use and tackle Mother Nature for a handsome payout.
16. Knife Sharpening
If you have a knack for precision and patience, knife sharpening could be a rewarding side hustle. Businesses like restaurants butcheries, and home cooks are potential clients.
All you need is a quality knife sharpening setup and knowledge of the right techniques. Advertising your services on social media can help bring in customers. Who knew such an unusual skill could be so profitable?!
17. Plasma Donation Centers
While this one is probably more geared to side hustles for college students have you ever considered donating plasma for cash?
You help others, and it earns you up to $500 a month. It’s a generous deed with a minimal time commitment.
Search for “where to sell plasma in [your city]where to sell plasma in [your city]” to get started. Remember, most places have similar requirements to blood donation and may require a short medical screening first.
18. Bookkeeping
Good with numbers? Have an eye for detail? Look into bookkeeping.
Services like generating invoices, managing accounts payable, and preparing tax returns are always in demand. Overhead costs are low as you only need a computer and accounting software. Plus, payment is high at around $50 per hour!
For most bookkeepers, referrals are their bread and butter. To start out check the local Chamber of Commerce to start meeting other business people.
Turn your love for crunching numbers into a lucrative side hustle.
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19. White Label Software
Dip your toes into software reselling by using white-label software. This is great for someone who is good with technology and understands SaaS. However, no coding or IT background is necessary.
All you need to do is buy “seats” of an existing software at a wholesale rate, then resell them at retail.
Use any software name or category on Google and add “White Label” at the end to find options. Build a website, market your product, and start earning by becoming a digital intermediary! Start earning by becoming a digital middleman!
20. Work as a Translator
In the United States, nearly 20% of the population, roughly 67.8 million people, speak a language other than English at home, with Spanish, Chinese, Tagalog, Vietnamese, and Arabic being the most prevalent.3 If you’re fluent in another language, this opens doors to flexible and potentially lucrative side hustle in translation and interpretation.
Earnings in the language translation side hustle can fluctuate based on the client’s requirements and your preferences. For instance, you might find translation opportunities on platforms like Freelancer.com offering rates of up to $60 per hour, while translators on Fiverr can charge as much as $125 per project.
21. Pallet Flipping
Are you inclined towards an entrepreneurial middleman ship? Pallet flipping could be your ticket to substantial income.
This is similar to buying storage units unseen and flipping for a profit. With pallet flipping, the process involves buying and reselling pallets of customer returns, overstocked items, or unsold merchandise, often from major online platforms. Connect businesses that need pallets to ship their products with those looking to get rid of them.
Whether you start small or aim high, scalability and considerable earnings are within reach. Check out this Pallet Flipping book to get started.
22. Help Others Write Resumes
If you have a talent for crafting impressive resumes, there’s a lucrative side hustle waiting for you. Job seekers are constantly looking for professionals who can help them stand out in the competitive job market.
According to our research, professionals skilled in resume writing can start charging for their services on platforms like Fiverr, often earning anywhere from $50 to $150 per resume service including cover letters and LinkedIn profiles.
Mastering the art of creating effective resumes, including understanding industry-specific keywords, is the secret sauce to success in this field. By assisting others with their career aspirations, you can collect a decent income while making a meaningful impact on their job prospects.
This is also a popular digital product to sell on Etsy.
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23. Laundromat
Here’s an unconventional yet profitable idea – owning a laundromat! It’s an already profitable model (as it has been around for years) and most processes are automated.
Integrating some digital marketing skills and making tweaks like improving your online presence could earn you significant profit. But be aware, that this does involve an initial investment. Scope out opportunities to buy a laundromat near you.
Also, another trend is starting a laundry business where you take care of others’ laundry needs. Who would have thought laundry could be so rewarding?
24. Start a Consulting Side Hustle
Do you have expertise in a specific area? Consider starting a consulting side hustle.
Consulting is often about solving problems and providing strategies. Whether you’re skilled in marketing, HR, tech, or any other field, your knowledge can be valuable to businesses. Use your existing network to start and gradually grow your client base.
With the right marketing and a robust network, consulting can be highly rewarding. Honestly, this is a popular job after retirement for many. So why wait? Start monetizing your wisdom today!
25. Furniture Flipping
Ever heard of furniture flipping? It’s about buying used furniture at low prices, revamping it, and selling it for a profit.
Furniture flippers can be a goldmine especially if you know what to look for. Unearth the potential in old furniture and flip it into a profit with this artistic hustle.
You can source items from yard sales, flea markets, or online. Sanding and repainting can transform items into showpieces. This gig is perfect if you love hands-on projects that require creativity and patience. Remember, a great photo makes the sale for your final piece!
26. Walk Dogs
Dog lovers, rejoice! Here’s the perfect gig for you – dog walking. If you love playing with our furry friends and love the outdoors, why not get paid for it?
Apps like Rover can connect you with dog owners in your area in need of walking services. Dog walking can fetch (pun intended!) you around $10–$18 per walk. If you’re passionate about spending time with fidos, this side hustle is a pleasure that pays!
Rover
Get paid to play with pets!
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Earn money doing something you love.
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27. Find Odd Jobs in Your Area
Not afraid to roll up your sleeves? Awesome! Odd jobs can be a treasure trove of opportunities.
Think yard work or furniture assembly. Seek out these gigs on platforms like TaskRabbit, Nextdoor, Craigslist, or Fiverr, and a few hours of work can earn you a tidy sum. It’s the perfect hustle for those in search of quick cash injections!
TaskRabbit
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Plus set your own rates!
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28. Photographer
Are you skilled at capturing beautiful moments? Turn your passion into a lucrative side hustle by becoming a photographer.
With average rates of earning 500 dollars per day, your earnings could easily surpass those of a full-time job. You can explore areas like wedding photography, senior photos, or commercial product photography.
The best way to gain clients is through referrals or a fundraiser. Grab your professional camera and start capturing memorable moments while boosting your income. Focus your lens and let your creativity shine!
29. Unusual Rentals
Get creative! As this man demonstrated, unconventional rentals like a power washer can earn you thousands of dollars every month. 4
You can rent out spaces like your garage, or backyard to pet owners, or even invest in items like portable hot tubs or bounce houses. Platforms like Airbnb, Sniffspot, Vrbo, and Neighbor can help you get started.
Your unused space or items can transform into extraordinary sources of income. Dive into the world of rentals and unveil massive profits!
30. Cryptocurrency
Crypto investment is a popular side hustle that can yield incredible returns (and significant losses).
However, keep in mind that the cryptocurrency market is volatile, and you should only risk what you can afford to lose.
Crypto is not for the faint-hearted, but with the potential for high returns, it could be your golden opportunity.
31. Teach Music Classes
Do you possess a hidden musical talent? Then, teach music class!
With countless adults and children seeking music lessons, you can make good money sharing your skills. Offer piano lessons, guitar instruction, drumming, or any instrument you excel in. You can use platforms like Skillshare or provide private lessons.
On average, music instructors can charge anywhere from $40 to $100 or more per hour for online lessons depending on how advanced the lessons are. Sharing your passion for music while making money sounds like music to the ears, doesn’t it?
32. Sell on eBay
Have you ever visited a garage sale? Turn those finds into a profitable hustle by selling on eBay. eBay is an excellent platform for selling a wide range of items.
Some personal successes include flipping items like electronics, old iPods and iPhones, sneakers, and furniture. Successful eBay selling boils down to recognizing profitable items and securing a bargain purchase.
Are you ready to flip and fill your wallet with extra cash? You could sell on Facebook Marketplace, too.
33. Reselling on Amazon
Reselling products on Amazon is the trend of the hour. Scout for items cheaper in your area than online, including toys, limited edition shoes, or seasonal delicacies.
Consider trying dropshipping to curate your product lineup without worrying about inventory. Armed with just an Amazon seller account and a keen eye for trends, you can dive into this lucrative venture!
34. Start A Freelance Business
Have niche skills? Time to cash them in by freelancing. This is a booming market.
Bid on projects that resonate with your skill set: graphics, writing, social media management, website design – you name it! Going freelance offers flexibility, and autonomy and can bring in some serious cash.
Be sure to create a compelling portfolio to attract clients and make sure you have solid reviews.
35. Play Games Online
Game on, fellas! Who said you can’t turn your gaming hobby into a money-making machine?
You can pocket money by playing games like Blackout Bingo and Solitaire Cube.
Just remember you can win real money, but you can suffer losses as well. Also, be sure to check if cash tournaments are available in your region.
36. Watch Videos Online
Do you enjoy watching videos? You can earn while indulging in your favorite pastime! Platforms like InboxDollars and MyPoints offer cash rewards for watching videos. Plus, you can claim a $5 sign-up bonus on InboxDollars.
While the earning potential might be relatively low, it’s a seamless background activity. You can make money while relaxing on the couch. So, why not unwind with your favorite video content and get paid for it?
Inbox Dollars
Since 2000, InboxDollars has paid over $80 Million in cash rewards to members for doing everyday online activities like reading emails, taking paid surveys, or playing games.
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37. Start a Podcast
Do you have a passion for conversation? Starting a podcast is not just about speaking your mind; it’s a captivating path to potential profit.
With over 177 million podcast listeners in the U.S. alone, your words have a vast audience waiting to tune in.5
Dive into topics like BBQ techniques, current events, or life’s twists and turns, and you might be surprised to know that top podcasters earn money with sponsorships.
38. Delivery Gigs
Do you love driving, but want to limit contact with people? Consider delivery gigs.
Food delivery apps like DoorDash, Uber Eats, and Instacart can pad your wallet. You can make deliveries on your schedule while retaining control over when and where you work.
These gigs typically pay $15 to $20 per hour, plus tips. Some companies even allow bicycle deliveries for a bit of exercise. Deliver your way to financial success with this flexible side hustle.
39. Start a YouTube Channel
Do you have a passion for digital creativity? Consider starting a YouTube channel – the “king of side hustles.”
Use your unique perspective to engage viewers, whether through personal vlogs, tech reviews, or evergreen content. The potential is boundless.
YouTubers earn money from ad revenue and sponsorships. With a staggering number of users on YouTube, why not tap into this vast audience?
Established channels can rake in thousands per video. However, remember that channel success hinges on content quality, relevance, and consistency. Get behind the camera and share your creativity with the world!
40. Freelance Writing
If you have a way with words, freelance writing is an attractive side hustle. Typically, writing is the most sought-after freelance service.
You can choose from various writing niches, including copywriting, blog writing, ebook, social media content creation, or creating detailed reports. Impress clients with samples of your best work.
For many, this was the first step before they went into to the world of blogging.
Earn More Writing
You can make money as a freelance writer.
Learn techniques to find those jobs and earn the kind of money you deserve!
Plus get tips to land your first freelance writing gig!
Start Now
42. Take Online Surveys
Have some free time and a reliable internet connection? Consider taking online surveys.
Websites like Swagbucks, Panel Place, or Survey Junkie are on the lookout for your opinions. It’s simple: sign up, share thoughts, and cash out! Look out for the highest-paying survey sites to maximize your profits.
Taking online surveys can typically amount to around $50 to $200 per month, depending on the frequency and length of surveys taken.
While it won’t make you a fortune, it’s an easy way to make a couple extra bucks during downtime. Start voicing your opinions for money today!
Swagbucks
Swagbucks is a fun rewards program that gives you free gift cards and cash for the everyday things you already do online.
Earn points when you shop at your favorite retailers, watch entertaining videos, search the web, answer surveys, and more!
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43. Find a Flexible Part-Time Job
Finally, a part-time job can provide a steady cash stream.
Right now, you can find hiring signs everywhere! This is a great way to trade your time and make a little bit over minimum wage.
Apply to those vacant positions now, and sail towards extra cash!
Striking the Balance: Juggling Regular Jobs and Hustles
This is where my husband is always the most concerned because juggling your full-time job along with your side hustle can be tricky. Even more so, if you have a family.
The key is to create a feasible schedule that allows you to manage both without affecting the quality of work.
Keeping a time log can help identify how you can spare time for your hustle. Remember, side hustles should not hinder your regular job.
The goal is to make extra money, but not lose precious time with your family, so you must strike that balance for a smooth side-hustling journey. It’s all about dedication, time management, and commitment.
Now, are you ready to toss that juggling ball up in the air?
Frequently Asked Questions about Side Hustles
Personally, we feel the most profitable side hustles for men is real estate investment, followed closely by trading stocks and options.
These side hustles have a higher amount of money needed to start investing. So, we decided to consider your skills and interests to make a big impact now.
Making an extra $2000 a month is a game of adopting multiple hustles or honing in and being successful with one.
More importantly, it’s all about identifying your strengths, and interests and leveraging opportunities from there. Keep grinding, and you’ll find that fortune favoring your extra efforts!
Earning an extra $1000 a month might seem daunting, but it’s definitely achievable. Combining side hustles like driving for DoorDash, medical research studies, and flipping items can help you hit that target. Remember, the key lies in maximizing your skills, and efficiency, and choosing the right hustles. Embark on your side-hustling journey today and watch as your bank account flourishes!
Which Side Hustle for Guys Do You Like?
Now that we’ve explored these exciting side hustle opportunities, it’s time for you to take action. Which one resonates with you the most?
To truly excel in the world of side hustles, it’s crucial to approach your ventures with the right mindset. Your skills, hobbies, and interests should align with your chosen hustle, ensuring that you’re not just chasing dollars but pursuing something that genuinely excites you.
Remember that side hustles require time, commitment, and sometimes an upfront investment. The higher you’re willing to climb, the better your view (and the payouts) will be!
Don’t wait any longer. Start your side hustle journey today, and unlock the door to financial freedom and personal fulfillment.
Source
CNBC. “21-year-old spent $300 to start his sticker side hustle—now it brings in up to $38,000 a day: I was ‘unprepared’ to go viral.” https://www.cnbc.com/2023/10/30/how-sticker-side-hustle-invalid-jp-went-tiktok-viral-became-lucrative.html. Accessed October 30, 2023.
CBS News, “Youth sports referee shortage grows amid aggression from parents, coaches.” https://www.cbsnews.com/philadelphia/news/youth-sports-referee-shortage-grows-amid-aggression-from-parents-coaches/. Accessed October 30, 2023.
Census.gov. “Nearly 68 Million People Spoke a Language Other Than English at Home in 2019.” https://www.census.gov/library/stories/2022/12/languages-we-speak-in-united-states.html. Accessed October 30, 2023.
Express. “‘Anyone can do it’ Man shares unusual way to make money without leaving home.” https://www.express.co.uk/finance/personalfinance/1623166/money-making-tips-earn-from-home-fat-llama. Accessed October 30, 2023.
Exploding Topics. “Number of Podcast Listeners.” https://explodingtopics.com/blog/podcast-listeners. Accessed October 30, 2023.
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The US housing market looks like it’s headed for a recession, Wells Fargo has said.
Mortgages spiking to nearly 8% would cause homebuying to plummet, the bank says.
Strategists compared the situation to the 1980s when interest-rate hikes put pressure on the property market.
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“Although mortgage rates may gradually descend once the Federal Reserve begins to ease monetary policy, financing costs are likely to remain elevated relative to recent norms,” they added. “A ‘higher for longer’ interest rate environment would likely not only weigh on demand, but could also constrain supply by reducing new construction and discouraging prospective sellers carrying low mortgage rates from listing their homes for sale.”
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The average 30-year fixed-rate mortgage has climbed from under 4% to just shy of 8% since the Fed started tightening in March 2022, data from Freddie Mac shows.
Higher borrowing costs have driven a decline in the construction of new US houses, further tightening a supply-starved market and encouraging many existing homeowners to stay put to cling to historically low rates they’d previously locked in. Just 1% of Americans sold their houses during the first half of 2023, data from Redfin showed.
In the 1980s, the Fed’s aggressive war on inflation drove 30-year mortgage rates as high as 19% — prompting homebuilders in Jackson, Mississippi, to send the central bank’s chair, Paul Volcker, lumber with the inscription: “Help! Help! We Need You. Please Lower Interest Rates.”
The Wells Fargo economists compared that desperate plea to a letter that the National Association of Realtors, Mortgage Bankers Association, and National Association of Homebuilders sent the Fed’s board of governors earlier this month. The three groups called the chair, Jerome Powell, to make clear that he was calling time on the bank’s current rate-hiking campaign.
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“The plea for assistance from housing industry participants, both in the early 1980s and more recently, illustrates the severe impact higher interest rates can have on the residential sector,” Dougherty and Barley wrote.
“After perking up at the start of year, nearly every facet of housing activity has shown signs of relapse as the Fed has maintained a restrictive policy stance and mortgage rates have breached 7%,” they added, referring to the fact that home sales, mortgage applications, and indices tracking homebuilder confidence have all declined in recent months.