We’re living longer than ever before, and doing so in better health. So what can you do when you retire and want to keep your mind sharp or need to gain additional skills to stay competitive at work?
For many, the answer is to go back to school. But tuition can be prohibitively expensive.
At the same time, schools want their classrooms to be full of engaged students, regardless of age. In the interest of continuing education, many colleges and universities offer reduced or free college for seniors (typically, adults 60 and up, although the rules vary).
In fact, we found at least one option in every state.
Free (or Cheap) College for Seniors in Every State
While some institutions only allow senior students to audit classes, many offer the chance to earn credits toward a degree at a reduced — or completely waived — tuition rate.
Does your state have a senior citizen education program you can use? Find out below!
1. Alabama
The Alabama Commission on Higher Education states that Alabama seniors can attend any two-year institution within the state tuition-free.
Adults 60 and older should contact the financial aid office at any community college for admission and eligibility details.
Some Alabama schools, like Coastal Alabama Community College, offer online courses if you want to avoid in-person classes.
2. Alaska
The University of Alaska waives tuition for senior-citizen residents who receive full Social Security benefits. Seniors must wait until the first day of classes to enroll to ensure that there’s space remaining; they must also complete a tuition-waiver form.
Additional costs such as student activity, health center and lab fees are not covered; the student must pay them directly.
Online courses may be included if offered; check with the admissions office for confirmation.
3. Arizona
All 10 campuses of Maricopa Community College allow senior citizens to take classes for credit at 50% of the full tuition cost.
Students 65 and older must register between the first and second class sessions of the semester to ensure space is available. You can register for in-person, online or hybrid classes.
4. Arkansas
Arkansas waives tuition for anyone 60 and over who wants to work toward an undergraduate or graduate degree at state institutions.
Student fees may apply, and senior citizens may register only for classes with space available. If you need online courses, check with your chosen college to see what options you have.
5. California
California State University waives all tuition for state-supported classes and dramatically reduces campus fees for residents age 60 or older.
Different Cal State locations may offer online courses or in-person classes. Students who attend in-person classes must provide proof of COVID-19 vaccination.
6. Colorado
Students age 55 and older may attend class on a space-available basis at Colorado State University. There is no tuition fee, but visitors don’t get credit for attending class. It is up to the instructor how participation and grading of assignments and tests are handled. CSU currently offers face to face, hybrid and online classes.
At the University of Colorado Denver, people 60 and older may enroll on a no-credit basis to attend up to two classes per semester as auditors when space is available. (Courses with a lab component are excluded, as are computer courses and online courses.)
7. Connecticut
Residents 62 and up may attend state colleges, including community colleges, for free on a space-available basis.
At Central Connecticut State University, for example, tuition is waived for any resident over the age of 62 who applies for full- or part-time admission for a degree-granting program. Online courses are included.
Senior students may also take noncredit courses on a space-available basis and have tuition waived. All students must still pay all other fees.
8. Delaware
The University of Delaware, Delaware State University, and Delaware Technical and Community College allow all permanent state residents age 60 or older to audit or take classes for credit for free.
At the University of Delaware, students wishing to use the program must apply for admission on a space-available basis. Some graduate degrees may be eligible, as well. Residents can register for online or in-person courses.
Participants must pay all related student fees and buy their own textbooks.
9. District of Columbia
Senior citizens 65 and up may audit undergraduate courses from Georgetown University’s School of Continuing Studies. These students pay a fee of $32 per credit, which means a three-credit course will cost $96.
To audit a course, there must be available space and the instructor of record must approve the enrollment.
10. Florida
The Florida college system waives application, tuition and student fees for those age 60 and above, but colleges will award no credit and will grant admission on a space-available basis. Check to see whether your chosen college covers online courses as well as in-person ones.
Fun fact: Florida Atlantic University’s Lifelong Learning Society has the largest adult continuing education program in the U.S. It even has its own auditorium on campus to help serve FAU’s 30,000 new registrants each year.
11. Georgia
Georgia residents age 62 and above may take classes on a space-available basis for “little or no cost” at the state’s public colleges.
Seniors may choose to take classes for credit or continuing education, but they must apply through the regular admissions process at their school of choice. Many general education courses are offered online.
12. Hawaii
The Senior Citizen Visitor Program at the University of Hawaii and state community colleges allows senior residents age 60 and up to attend up to two courses per semester free of charge. Seniors who have been residents of Hawaii for at least one year may enroll in in-person, hybrid or online courses for no cost. It’s recommended but not required for students to be vaccinated against COVID-19. Students must demonstrate tuberculosis (TB) clearance by providing test results or a TB risk assessment form signed by a licensed U.S. health care provider.
Schools will not award credit nor will they keep permanent records of students’ class history.
13. Idaho
Programs in Idaho vary based on institution, but some schools offer good deals. The College of Southern Idaho offers free tuition for lower division courses for students aged 60 and older, in addition to other benefits. The college has online and in-person courses.
At Boise State University, Idaho residents who are at least 65 years old can audit classes on a space-available basis for free except for applicable special course fees. BSU offers online courses as well as in-person ones.
14. Illinois
Upon admission, senior citizens age 65 and up who meet income requirements can attend regular credit courses at Illinois public institutions for free. Lab, student and other fees still apply. Each institution will have guidance on registering for online or in-person classes.
15. Indiana
Indiana University offers programs that allow retired residents age 60 and older to take up to nine credit hours per semester and pay just 50% of in-state tuition fees. Courses are in person.
16. Iowa
Private institution Simpson College in Indianola allows people 65 and older to take one noncredit class for free per semester. Courses are open on a space-available basis and do not include lab courses. Online courses may be available.
17. Kansas
Tuition and fees are waived for students age 65 and older taking classes on a space-available basis. Residents must be admitted to a state-supported school to take advantage of this discount. Each school can also provide info on in-person versus online courses.
The registration process varies: The University of Kansas and Wichita State University, for example, require senior auditors to apply for admission. Online or in-person courses may be offered.
18. Kentucky
Tuition and fees are waived for students age 65 and older taking classes on a space-available basis. Residents must be admitted to a state-supported school to take advantage of this discount. Each school can also provide info on in-person versus online courses.
19. Louisiana
Students age 65 and up attending Louisiana state schools receive free tuition and 50% off books and materials at the campus student bookstore. Check with each school to see if online courses are included.
20. Maine
Senior citizens 65 and up may attend undergraduate classes as degree-seeking or audit students in the University of Maine System for free, subject to space availability.
Each college within the system can provide info on the types of courses covered (i.e., online, in-person, hybrid).
21. Maryland
Any student in the University of Maryland System who is retired and over the age of 60 may have tuition waived for up to three courses per semester, even for degree-granting programs. Online courses are available as well as face-to-face offerings.
Online courses are available as well as face-to-face offerings.
22. Massachusetts
Residents age 60 or older can take at least three credits per semester at any state-supported school in Massachusetts and receive free tuition.
Each location has information on what online courses are offered.
23. Michigan
Opportunities for seniors in Michigan vary by institution.
At Michigan Tech, for example, students 60 and older can have tuition waived for up to two courses per semester. Seniors must apply through the admissions office.
Western Michigan University invites seniors 62 and older to register for one class per semester tuition-free, which may include online classes.
At Wayne State University in Detroit, seniors 60 and up receive a 75% discount on tuition but must pay registration and related fees. Wayne State offers some online courses.
24. Minnesota
Minnesota waives tuition for senior citizens 62 and older, but fees and online options may vary by school. At the University of Minnesota, seniors pay a $10 fee per credit, but they can audit for free.
25. Mississippi
There’s no statewide benefit in Mississippi, but some schools have programs for seniors.
Mississippi State University provides a waiver to residents age 60 or older for classes offered on the Starkville or Meridian campuses or by the Center for Distance Education. Seniors are limited to six semester hours per semester and a maximum of 18 credit hours per calendar year, where space is available. MSU offers online courses as well as traditional in-person ones.
The University of Mississippi’s Office of Professional Development and Lifelong Learning allows seniors 65 and older to take one class for free per semester (up to four hours) at any UM campus.
26. Missouri
Missouri residents age 65 and older are exempt from paying tuition at state-supported institutions for classes attended on a noncredit basis. Schools may limit the number of students who receive the tuition benefit based on space availability. Online classes are offered in addition to in-person ones.
27. Montana
The Montana University System offers a tuition waiver for in-state residents 65 or older. Campus and registration fees are not waived. Choose from online or in-person classes.
28. Nebraska
Chadron State College allows adults 65 and up to audit one course per semester for free. The college offers classes online and on campus.
29. Nevada
The University of Nevada, Las Vegas allows seniors 62 and up to take autumn and spring courses free of charge. They pay 50% tuition for summer classes. Lab and other course fees are not covered. Online courses may be offered.
30. New Hampshire
The University of New Hampshire offers residents 65 and older free tuition for two credit-bearing classes per academic year on a space-available basis, so long as they’re not enrolled in a degree program. Courses are offered online or in person.
31. New Jersey
Rutgers University allows retired New Jersey residents 62 and older to audit courses for free in the spring and fall semesters at its Camden, New Brunswick and Newark campuses, space permitting. Current guidelines allow senior citizens to audit in-person or online classes if they have been fully vaccinated against COVID-19.
32. New Mexico
New Mexico offers reduced tuition of just $5 per credit hour to state residents 65 and older. Online courses are available.
For-credit classes are eligible as well as auditing; senior citizens can take no more than 10 credit hours per semester. The program is offered on a space-available basis, and students are responsible for paying any additional course fees.
33. New York
Many schools offer free or reduced tuition for senior citizens. Queens College allows residents 60 and up to audit any course on a space-available basis after completing a Senior Citizen Auditor Application and paying $80 per semester. Up-to-date COVID-19 vaccinations are required to enroll.
At SUNY Purchase, New York state residents 60 and older can enroll tuition-free in a maximum of two credit-bearing, on-campus courses in which space is available. They pay a $50 audit fee, $20 ID processing fee and any course fees. In-person, online and hybrid courses are available, and COVID-19 vaccinations are required for anyone coming on campus.
34. North Carolina
Tuition and registration fees are waived for residents 65 or older attending North Carolina community colleges. Senior citizens can take up to six credit hours per semester for free. Audit options may be available at other schools.
At the University of North Carolina Wilmington, for example, senior citizens may audit classes for free after getting the instructor’s permission and submitting an application. Lab, studio, performance, distance education, independent study, internship and special topic courses are excluded. Online courses are available for those who prefer them.
35. North Dakota
Programs vary by institution in North Dakota. At Bismarck State, for example, senior citizens 65 and older can audit one course tuition-free per semester on a space-available basis. They’re still responsible for other course fees. Some online courses are available.
36. Ohio
Ohio residents at least 60 years old may attend class at any state college for free. Senior-citizen students do not receive credit and can register only on a space-available basis. They are still responsible for special assessments, such as lab fees, that may apply.
Many Ohio state colleges offer online courses, as well as in-person and hybrid.
37. Oklahoma
Oklahoma state colleges and universities waive tuition and fees for senior citizens 65 and older who wish to audit classes on a space-available basis.
38. Oregon
Oregon State University allows senior citizens at least 65 years old to audit classes for free at a maximum of eight credit hours per semester.
The University of Oregon also waives fees for seniors 65 and older auditing classes on a space-available basis.
Online course options may be offered depending on availability.
39. Pennsylvania
Clarion University offers a tuition waiver for residents 62 and up to audit classes. At Bloomsburg University, you need to be only 60 to take tuition-free classes on a space-available basis.
There can be additional benefits at the community college level: Bucks County Community College, for example, waives for-credit course tuition for seniors 65 and up so long as they register after students who are paying full tuition. Many courses are offered online, though some in-person and hybrid options are available.
40. Rhode Island
Tuition waivers can be requested from citizens over 60 at the Community College of Rhode Island. Seats are granted when there is space available.
All degree-seeking senior students must fill out a FAFSA. They also have to submit a Senior Citizens Means Test to verify they have limited income.
Proof of COVID-19 vaccination is required to attend in-person classes. There are also online classes.
41. South Carolina
Residents 60 and above can attend classes at state schools on a credit or noncredit basis, pending space available, for free. The school must grant admission via its normal procedures.
Technology, lab and other fees are the responsibility of the student. Many South Carolina community colleges offer online courses for those interested.
42. South Dakota
Residents 65 and older can attend public universities in South Dakota at 55% of the normal cost of tuition for undergraduate or graduate in-person courses on a main university campus.
Interested adults should apply through the regular admissions system, and the school will automatically grant the discount upon admission. Student fees are not waived.
Contact your chosen university to see whether online courses are offered.
43. Tennessee
The University of Tennessee allows senior citizens to enroll in undergraduate or graduate courses for $7 per credit hour with a maximum fee of $70.
Students will still pay application and course fees. Senior citizens can choose between online courses and in-person ones.
44. Texas
A senior citizen age 65 or older can take up to six tuition-free credit hours at the University of Texas at Austin.
At the University of Texas at Dallas and Lone Star College, undergrad students 65 and older must maintain a 2.0 cumulative GPA to receive a tuition waiver for up to six credit hours per semester.
Check with each individual university to see which online and in-person classes are available for enrollment.
45. Utah
Utah residents age 62 and up may enroll tuition-free at a state institution, space permitting; a quarterly registration fee is required.
At the University of Utah, for example, seniors can audit most classes on a space-available basis and only have to pay a fee of $25 per semester, plus any special fees required. Call to see whether online classes are included.
46. Vermont
Vermonters over the age of 65 can audit one class per semester tuition-free on a space-available basis in the Vermont State College System. Students can take additional classes at a 50% discount of the tuition rate, either in person or online.
They’ll still have to pay administration and course fees for all classes.
47. Virginia
Under the amended terms of the Senior Citizens Higher Education Act of 1974, Virginia residents over 60 years old who earn a taxable income of less than $23,850 annually can audit up to three courses per term for free on a space-available basis at any public institution, either in person or online.
48. Washington
Institutions in Washington are required to partially or fully waive tuition fees for residents age 60 or older who are enrolled for credit on a space-available basis. Nominal fees may apply to students auditing courses.
Some schools limit senior citizens to a certain number of classes or credits; for example, Washington State University caps the waiver at six credits for the fall and spring semesters. Online programs are available.
49. West Virginia
Senior citizens 65 and older at West Virginia University seeking college credit must use the regular admissions form. Those wishing to be non-degree students pay just $5 to apply. WVU offers classes online or in person.
50. Wisconsin
Adults 60 and up may audit classes at the University of Wisconsin-Madison campus or at UW-Madison Online for free, where space is available.
51. Wyoming
At Laramie County Community College, senior citizens 60 and older pay only 20% of the resident tuition rate per credit hour, though they still need to pay any other course or online fees.
Northwest College offers adults 60 and older free tuition up to six credit hours per semester for on-site and online courses, as well as free entry to most college social, cultural and athletic events.
Another Continuing Education Option
More than 100 colleges and universities around the country offer another continuing education program for senior citizens: enrichment courses through the Osher Lifelong Learning Institutes (OLLI).
Prices vary depending upon the institution. Duke University, for example, has a $50 annual membership fee and then charges $50 to $175 per class. Senior citizens can choose to take classes online or in person.
OLLI classes don’t count toward a degree, but if you’re looking for personal development opportunities among older adults, these courses can provide opportunities that mix in the campus experience, too.
Contributor Catherine Hiles updated this post for 2023.
Did the movie “The Big Short” go right over your head? Does Nasdaq sound more like a foreign country than a stock market index? When you hear about bear markets and bull markets, do you envision adorable cartoon mammals browsing for fresh produce at a local farmers market?
You’re not alone.
The stock market can be confusing, and if you’re not a financial wizard in the Wall Street inner circle, you might be tempted not to bother with stock and options trading at all. But you’d be missing out.
That’s where apps like Robinhood come in. In this Robinhood review, we’ll discuss how Penny Hoarders can go from novice traders to expert stock market gurus, no matter how much or how little they have to invest.
What Is Robinhood?
Robinhood offers a unique brokerage account with commission-free investing from your smartphone. Robinhood has been around for the better part of a decade — the company launched April 18, 2013. Its two founders, Vladimir Tenev and Baiju Bhatt, met at Stanford University as roommates and eventually moved to New York City to build finance companies.
Upon seeing firsthand how Wall Street insiders and powerhouse firms paid almost nothing when trading stocks while average Americans had to pay a commission fee for every trade, they instead headed to California to develop a financial product that allowed everyone to trade easily and affordably.
The resulting financial product, of course, was Robinhood. The company today is headquartered in Menlo Park, California.
Robinhood has not been without its challenges. It’s famous for serious outages during market surges in 2020 and its role in the early 2021 market chaos related to the Reddit forum called r/wallstreetbets, where it restricted member access to securities like GameStop, Nokia and AMC. More recently, Robinhood laid off 23% of its staff, just one example of the massive tech industry layoffs in 2022, and also has been in the news for questionable trades.
However, Robinhood’s overall mission to make stock market trading accessible for everyone is admirable, and it is one of many investment and trading tools that seeks to put power back in consumers’ hands to elevate the financial status of the average American.
That’s a product that, even with its flaws, we can get behind.
What Tradable Securities Does Robinhood Offer?
The Robinhood platform is a great solution for free(!) trading of stocks, options, ETFs (exchange-traded funds) and ADRs (American Depositary Receipts), as well as cryptocurrency trading. The trading platform requires no minimum balance, offers fractional shares and includes plenty of educational resources. While Robinhood is most known for trading stocks and crypto, you can also use it for cash management.
Robinhood does not, however, offer access to mutual funds and bonds.
In 2021, Robinhood began to offer IPO access, meaning investors could purchase shares of stock in new companies at the IPO price before they go public. And in 2022, it introduced individual retirement accounts, or IRAs.
What Can You Trade on Robinhood?
U.S. exchange-listed stocks
U.S. exchange-listed ETFs
Options contracts for U.S. exchange-listed stocks and ETFs
ADRs for more than 650 globally listed companies
Cryptocurrency
What Can’t You Trade on Robinhood?
Foreign-domiciled stocks
Select OTC equities
Preferred stocks
Tracking stocks
Stocks that trade on foreign exchanges
Royalty trusts
Units
Closed-end funds
Mutual funds
Bonds
Fixed-income trading
New York registry shares
Limited partnerships
Chinese securities affected by the Nov. 2020 executive order
Spanish ADRs
How to Get Started with Robinhood
To sign up with a Robinhood brokerage account, simply visit the website and press the black “sign up” button.
Hot Tip: Robinhood is currently offering one free fractional share upon signup. There are 20 fractional shares available to choose from. To generate its 20 offers, Robinhood chose the two largest S&P 500 companies within each of the top 10 sectors based on market cap.
To open an account with Robinhood, you have to meet a few individual requirements:
You must be 18 or older.
You need a valid Social Security Number (Note: You may not use a Taxpayer Identification Number).
You must be a legal U.S. citizen, U.S. permanent resident or have a valid U.S. visa and have an address in the 50 states or Puerto Rico (exceptions made for members of the U.S. military stationed outside the country).
The Robinhood trading platform is accessible via the web or app (iOS and Android).
The process of activating your account can take some time. You’ll start by submitting an application. While Robinhood reviews the application, you can queue one deposit to fund your account, but you won’t be able to use that money to make trades until account approval.
Typically, Robinhood will take a few days to either approve your application or request more information. If they request more information or documentation, be prepared to allow five to seven days for review.
How Much Does Robinhood Cost?
Trading with Robinhood is free. That’s the whole reason its founders launched the company: free stock trading for regular people. That means you won’t pay commissions on equity trades or options trades. However, you could wind up having to pay account transfer fees, wire fees, check fees and live broker fees, among others.
In addition, Robinhood Gold allows you to trade on margin at a 7.75% annual rate (11.75% for non-Gold members). It also allows you to make bigger deposits with faster fund access. This fee for the margin account is $5 per month.
Robinhood Gold, Explained
Margin trading means trading with borrowed money. If you invest in a bad stock and lose money on the investment, you’ll owe that money back.
For example, say you borrow $500 to invest in a stock worth $500. But that stock plummets to $100. You will still owe the remaining $400 back to Robinhood. That’s what makes margin trading a little too risky for novice traders.
Not only that, but if you borrow more than $1,000 to trade on margin, you’ll owe 7.75% yearly interest on that borrowed money above that $1,000.
Because Robinhood is targeted at new investors — and margin trading is a risky practice that can break even the savviest stock market gurus — we recommend that you invest with your own money, and make sure it’s money that, if lost, will not financially ruin you.
In fact, one of our biggest stock trading tips for beginners is to stay away from margin trading.
So How Else Does Robinhood Make Money?
If Robinhood is commission-free and not everyone uses Robinhood Gold, how does Robinhood make money off you? Robinhood spells this out transparently on its website:
Rebates from market makers and trading venues: Robinhood has developed relationships with market makers and trading venues that pay Robinhood rebates for directing orders to those makers and venues. In the industry, this is known as payment for order flow (PFOF).
Stock loans: Robinhood can loan stocks held in your account to traders and hedge funds for short selling. Robinhood gets to keep the money it makes from this; you as the investor do not share in the wealth.
Income from cash: If you have idle cash sitting uninvested but haven’t moved it into a cash management account, Robinhood earns interest on that cash.
Cash management account: Every time you use the debit card for your cash management account, Sutton Bank (the card issuer) earns a fee, which it shares with Robinhood.
Robinhood Gold: Robinhood makes money off every Gold subscription, both from the monthly fee and from margin interest.
Robinhood Review: Key Features
In this section, we will break down some of the hallmark features of Robinhood.
Robinhood: At a Glance
Feature
Details
More Details
Trading fees
$0
n/a
Account minimum
$0
n/a
Tradable securities
Stock options
ETFs ADRs; crypto
Mobile app rating
4.2 on App Store
4 on Google Play
Customer support
Talk to a live agent 24 hours a day, 7 days a week
30-minute guarantee
Other key features
Fractional shares
IPO access
Beginner perks
Educational resources
Free stock at sign-up
Commission-Free
Robinhood’s schtick has long been that it offers commission-free trading. That means you will spend $0 for stock trading and $0 for options trading. ETFs also are commission-free.
This was the original mission of the founders, but in the time since launching their revolutionary idea, some of the bigger, traditional players, like Fidelity and Charles Schwab, have latched onto the same idea — and are backed by a better customer support system and a better-supported platform.
That has meant the Robinhood trading platform has had to find new ways to differentiate, like cryptocurrency and fractional shares. More on these below.
No Account Minimum
Of course, you will need to put money in your account to invest, but Robinhood does not have an account minimum, nor does it charge you for having a low or zero balance. And with fractional shares being an option, you can get started investing with as little as a dollar in your account.
Note: To purchase a security on margin (through Robinhood Gold), you need to have at least $2,000 in your account. This is not a Robinhood requirement but rather a regulation set by the Financial Industry Regulatory Authority (FINRA).
Cryptocurrency Trading
Cryptocurrency is still a foreign concept to many investors, but just because something is new and scary (also, it’s been around since 2009, so it’s hardly new anymore) doesn’t mean you shouldn’t invest. Not all brokers allow you to buy and sell cryptocurrency, but Robinhood offers support for multiple cryptocurrencies, including Bitcoin, Dogecoin and Ethereum, with Robinhood Crypto (open 24/7).
In keeping with the whole “Robinhood is free” theme, Robinhood charges 0% for crypto exchanges. Some competitors charge up to 4%.
Fees
Not only does Robinhood offer free trades on stocks, options, ETFs and ADRs, it also has no account fees, inactivity fees or ACH transfer fees. Robinhood Gold, as mentioned, currently costs $5 a month.
Mobile App
Robinhood was created in the heart of Silicon Valley in Menlo Park, so, unsurprisingly, its mobile app is streamlined and easy to use. At the time of writing, the Robinhood app had 4.2 stars in the App Store based on more than 4 million reviews.
Its website, too, is streamlined. It doesn’t have a lot of extras, which is great if you are a novice trader. A more senior investor may find the site lacking, however.
Customer Support
While Robinhood offers customer support, this seems to be the biggest issue raised by members. Customer review sites often are littered with complaints that customer service is virtually nonexistent, especially pre- and post-market.
In an effort to improve its relatively low-rated customer support options, Robinhood rolled out a new customer service feature in 2021. This allows customers to request a call back, 24/7. Robinhood promises an agent should call within 30 minutes.
No Mutual Funds and Bonds
While commission-free stocks, options, ETFs and even crypto are a big pro of Robinhood, its lack of mutual funds and bonds can be frustrating for traders who want to diversify. As far as retirement accounts go, mutual funds are a key part of a retirement investment strategy.
Fractional Shares
True to its goal of making growing financial wealth more accessible to average Americans, Robinhood released fractional share options in late 2019. This means, if you can’t afford an expensive stock valued at, say, $1,000, you could instead buy a fraction of the stock, maybe $100 worth of it, or even just $10.
Right now, Robinhood allows you to buy as small as one-millionth of a share. Just like full shares, trading of fractional shares can be done in real time and is commission-free.
Recurring Investments
Another tool that Robinhood has introduced in recent years is recurring investments, which is a nice pairing with a fractional share investment strategy. For example, if Company X’s stock hovers around $200, you can set up a recurring investment in a fractional share at $25/week. Within roughly eight weeks, you could own a full share.
Most brokers structure recurring investments as buying by the share, which typically leaves your account funded with some uninvested cash. But Robinhood’s recurring investments are structured as buying by a dollar amount, which makes the best use of all your invested cash.
IPO Access
New in 2021, Robinhood gave customers access to purchase stocks in upcoming IPOs (initial public offerings) at the IPO price. No minimum account balances or special status requirements are necessary.
Cash Management Account
Another cool feature of Robinhood is the associated cash management account. You can have your paycheck deposited here, use it to pay bills and deposit checks, and, of course, fund your account. Like a proper bank account, this account gives you access to more than 75,000 fee-free ATMs (pretty much everywhere Mastercard is accepted) and comes with a debit card. And the best part: It earns 1.5% APY (4.65% APY for Gold members). For reference, the FDIC says the average interest rate for a savings account is 0.33% APY. And because the account is operated through a network of banks, you’ll get more than the typical $250,000 FDIC insurance; instead, the account is insured up to $1.25 million.
Educational Resources
A lot of now-outdated Robinhood reviews mention the lack of educational resources. We couldn’t find anything to be less true of Robinhood. Perhaps in response to some of those reviews, Robinhood has stepped up its game, with plenty of online resources on the website as well as a daily financial newsletter called Robinhood Snacks. Robinhood markets it as a “3-minute newsletter with fresh takes on the financial news.”
Pro Tip
Serious investors keep up with this kinds of news. It may not have the same appeal as celebrity gossip, but it will help you make wise decisions investments decisions.
Robinhood makes it easy to access news from Reuters, Cheddar, WSJ Markets, etc. Upgrading to Robinhood Gold gets you access to Morningstar, Nasdaq and Nasdaq Totalview Level 2 Market Data.
What Customers Are Saying About Robinhood
Because of Robinhood’s role in the recent GameStop market chaos and following layoffs in 2022, many angry investors and emboldened Redditors spoke their minds online, meaning Robinhood’s current ranking on sites like the Better Business Bureau (BBB) and Google Play is suffering. This is more a reflection of reviewers’ overall criticisms of capitalism, hedge fund managers and the 1% than it is on Robinhood, which, if you take a step back, is really trying to help the average investor.
Pros and Cons of Robinhood
There’s a lot to love about Robinhood, especially if you are a new trader. More experienced traders may prefer a different approach to trading, however. Weigh these pros and cons before deciding on a Robinhood brokerage account.
Pros
The educational content is great if you are new to the stock market and want to learn the language.
The cash management account makes it easy to fund your investments and earns a decent APY.
You can strategize by combining fractional shares and recurring investments to diversify your assets and minimize uninvested cash, no matter how much you have to invest.
The commission-free trading and no account minimum truly make this accessible to anyone who wants to invest.
Robinhood gives you the option of investing in cryptocurrency and access to IPOs.
The mobile app and online trading platform are known for their ease of use.
There are no account or trading fees, nor are there account inactivity or ACH transfer fees
Robinhood is running a promotion wherein you get free fractional share upon signing up.
Cons
The role Robinhood played in limiting investments in squeeze stocks (like GameStop) in early 2021 brought the original mission of the company into question. The 2022 layoffs didn’t help.
Customer support is lacking, especially compared to larger brokers. Robinhood customers complain that customer service is especially challenging pre- and post-market.
Robinhood lacks mutual funds and bonds.
By not charging investors commission, Robinhood instead makes money through the payment for order flow, a common standard among online brokers. Some critics say this is a conflict of interest.
Are There Alternatives to Robinhood?
If you want to stay away from major players like TD Ameritrade and Charles Schwab, Robinhood is arguably the most popular trading tool.
Its most notable competitor is Webull. Both Robinhood and Webull have their advantages; it truly comes down to your personal preferences. But Robinhood and Webull aren’t your only options. In fact, we’ve rounded up the best investment apps currently offered; choosing the right app depends on your own specific needs and investment strategy.
Frequently Asked Questions (FAQs) About Robinhood
Still have questions about opening a Robinhood account? We’ve provided answers to some of the questions our readers are most commonly asking.
Is Robinhood Safe?
Yes, Robinhood is a safe platform for investing. Robinhood is a member of the SIPC (Securities Investor Protection Corporation), meaning your funds are insured up to $500,000. Robinhood also is regulated by the Securities and Exchange Commission (SEC).
Is Robinhood a Brokerage Account?
Yes, Robinhood offers a brokerage account as its key offering, but you can also open a cash management account with Robinhood.
Does Robinhood Pay Dividends?
Robinhood processes your dividends automatically, crediting cash to your account by default.
Is Robinhood Gold Worth It?
Most investors will be fine with Robinhood’s free investing accounts. Being a Robinhood Gold member is ideal for margin trading, but we don’t recommend this unless you are a more seasoned investor.
Timothy Moore covers banking and investing for The Penny Hoarder from his home base in Cincinnati. He has worked in editing and graphic design for a marketing agency, a global research firm and a major print publication. He covers a variety of other topics, including insurance, taxes, retirement and budgeting and has worked in the field since 2012. Freelancer Lauren Richardson contributed to this post.
Now that America’s largest movie theater chain is going to start charging ticket prices based on where your seat is located, it’s time to think about ways you can save money at the movies.
Seriously, folks, AMC Theatres’ new pricing policy has a lot of people riled up. Just for example, actor Elijah Wood says it’ll penalize moviegoers who have lower incomes. “The movie theater is and always has been a sacred democratic space for all,” Frodo tweeted.
Still, by the end of the year at every AMC theater, seats in the front will be cheaper while the best seats in the middle will cost more.
If you ask us, it’s just another way for them to gouge you.
16 Ways to Save Money at the Movie Theater
Fortunately, we’ve got ideas for how you can save a buck or two at the movies. Check out our list of 16 ways to spend less at the theater.
1. Go to Matinees
Going to a matinee can knock up to 30% off the ticket price, but watch out for the theater’s definition of “matinee.”
Shows before 4 p.m. used to be called matinees at most theaters, but some now charge the evening price for anything that starts after 3 p.m.
2. Go to Pre-Matinees
Some theaters offer an even better deal for really early movies — “pre-matinees.”
These typically apply to movies starting before noon.
3. Go on Tuesday!
America’s three largest movie theater chains all have the same discount day — Tuesday. You also have to join their customer loyalty club to get the Tuesday discount, but that’s usually free.
AMC: The biggest chain in the U.S. has Discount Tuesdays if you’re a member of its loyalty club, which is called AMC Stubs. You can join for free, although there’s also a premium option you can pay for if you want. As for Discount Tuesdays, the ticket price varies by location.
Regal Cinemas: These theaters have Regal Value Days on Tuesdays, when Regal Crown Club members get discounted movie ticket prices and 50% off popcorn. The club is free to join. A look at this theater-by-theater list shows that most Regal theaters charge either $5 or $5.95 for movie tickets on Tuesdays.
Cinemark: This theater chain has Discount Tuesdays if you’re a Cinemark Movie Rewards member. There’s a free option or a $10-per-month option that gets you more perks. Again, the ticket price on Tuesdays varies by location.
4. Buy at Your Warehouse Club — In Person or Online
Seriously, you should make full use of those warehouse club memberships! If you shop at Sam’s Club or Costco, ask about theater tickets at the customer service desk. They often have them at a discount.
Costco also sells theater tickets online at a discount, and so does Sam’s Club.
5. Try Groupon
It’s kind of a crapshoot, obviously. But you can always hop on Groupon to see what kind of movie ticket deals are going on there. We see deals for AMC, Regal and Cinemark theaters there, off and on.
The website LivingSocial is another option to check here.
6. Eat Before You Go
These days, lots of movie theaters go well beyond popcorn, Sno-Caps and Raisinets. If you’re hungry, you’ll be super tempted by the hot dogs, nachos, cheese fries, chicken tenders, pizza…
And they’re all way overpriced, of course.
You’d be better off eating in a restaurant beforehand.
Save even more money by eating at home before you go.
7. Share the Snacks
Theaters don’t want you to bring your own food.
But we haven’t seen them stop parents who bring their own paper bags to divvy up a large bucket of popcorn between the kids.
It’s much cheaper than buying a small bag of popcorn for each person. Share other snacks to save money.
8. Get Special Discounts
You might qualify for special discounts — and you could save up to 35%. Here are some examples:
9. Buy Discount Movie Gift Cards
There are a number of places where you can buy discounted theater gift cards online. For example, you can buy AMC gift cards on online marketplaces like Raise for discounts of up to 25%.
Use them for matinees, and your total cost might be less than half of what an evening ticket costs.
10. Go to Discount Theaters
These are also called late-run movie theaters. You’ll see the same movie, so why not wait a couple of months and catch it for less?
Just search “discount theater” plus the name of your city to locate cheap movies.
11. Join the Club
Most theaters have a club or loyalty program you can join to save money. Here are some examples:
AMC
The largest theater chain’s loyalty club, AMC Stubs, has three tiers.
Insider is free and gets you perks like Discount Tuesdays, which is probably the main attraction here. You also earn $5 back for every $50 you spend.
Premiere seems pricy to us. It costs $15 per month and lets you reserve theater tickets online for free. You can also upsize your popcorn and fountain drinks. Doesn’t sound like a great deal.
A-List lets you see three movies a week for $20 a month. That’s a lot of movies.
Regal Cinemas
The Regal Crown Club is free to join and gets you access to Regal Value Days on Tuesdays, where you get discounted ticket prices and 50% off popcorn.
Cinemark
Cinemark has Movie Fan, which is free, and Movie Club, which costs $10 a month and gets you one movie a month and 20% off concessions.
12. Go to a Drive-In Theater
Check DriveInMovie.com or DriveInTheater.com to see if one of the few remaining drive-in theaters is near you.
Call or check online to see if they have discount days or a price-per-car night when you can bring the whole family or split the cost with friends. And check out our tips for maximizing the fun.
13. Go to Advance Screenings for Free
Movie companies sometimes offer free tickets to the public for advance screenings. If you get one, go early — movie screenings often get overbooked.
Here are a few places you can check to see if anything is available near you:
See The Penny Hoarder’s post on ways to get free tickets to advance movie screenings for more tips on how to snag these freebies.
14. Buy in Bulk for a Discount
At BulkTix.com, save up to $5 per ticket for some theaters if you buy more than four at a time. At Costco, you get a discount when buying 10-packs of tickets at the store.
15. Go to Late Shows
Some theaters offer cheap tickets for late-night shows — sometimes at matinee prices.
Showings typically start around midnight. If you’re a night owl, this can be a great way to avoid the crowds and save a few bucks.
16. Sit in the Front Row at AMC Theatres
If you’re OK with sitting in the front row, you’re in luck! It’s not really most moviegoers’ favorite spot, though.
By the end of the year at all of AMC’s movie theaters, here’s how the tickets will be priced:
The most desirable seats in the middle of the theater will be priced at a “slight premium” compared with the regular theater seats, which will remain the most common choice, AMC says. Those regular seats will continue to cost the current price. Seats in the front row are “value seating” and will cost less than the typical seat.
It’s up to you, but you might want to avoid neck strain and stick with the regular seating. You can always save a few bucks by not buying those Raisinets.
Mike Brassfield ([email protected]) is a senior writer at The Penny Hoarder. Steve Gillman is a former contributor to The Penny Hoarder.
If you’re seeking to earn extra income during the colder months, consider shoveling snow.
Many folks are unable to or just don’t want to shovel snow off their driveways and walkways.
Being in the 21st century, you don’t need to worry about going door to door and soliciting your services. Thanks to the smartphone app Shovler, you can see those in your immediate area looking to hire someone just like you.
The 2023 winter season has already seen a few powerful storms, especially in the South. Now’s the time to sign up for a service such as Shovler and be prepared to rake in the dough during the next blizzard.
What Is Shovler?
The Shovler app uses GPS to connect people in need of snow removal with nearby users willing to do the shoveling.
Registered snow shovelers can use the app to quickly view and accept jobs within 20 miles of their current location — no haggling or in-person contact required.
There are about 150,000 snow shovelers available for hire on the Shovler app, according to the company’s founder, Daniel Miller.
Miller, who lives in New York City, created Shovler in 2016 after a winter storm buried his car in snow — and he didn’t own a shovel.
He spoke to others in the same situation and came up with the idea for the snow shoveling app.
“I used to shovel snow as a kid in the ’90s,” Miller said. “I always had a great sense of satisfaction after completing a large driveway for a neighbor.”
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How Do You Get Started On Shovler?
Before you can put your snow shoveling skills to the test, you’ll need about 10-15 minutes to sign up (including connecting the required payment platform).
Download the Shovler app, select “Become a Shoveler” and fill out your information to get started. You will also need to connect a Stripe payment system account to get paid.
After creating your account, the app makes it super easy to find snow shoveling jobs in your area.
You can search for nearby jobs within the Shovler app or select “go on duty” to be notified when new snow shoveling jobs are added.
There are different types of snow removal jobs to choose from. You can make money shoveling driveways and walkways, or digging out cars parked on a city street.
Business owners can also hire shovelers to clear the snow in front of their businesses or small parking lots.
What You Can Expect as a Snow Shoveler
Nathan Simondet, a Shovler user in Minneapolis, joined the app in 2019 to make some extra cash.
“The main problem is there is only work when it snows, and there is competition with other shovelers to accept jobs before they do,” Simondet said. “But the work is usually pretty easy.”
According to Simondet, a typical snow removal job takes 20 to 30 minutes, more if there’s a lot of snow.
“My last job only took five minutes,” Simondet said. “There was only an inch of snow, and all I had to do was the front sidewalks.” And since you get paid by the job, not the time it takes, a quicker job is really worth more money.
Snow shovelers bring their own equipment, including a shovel, brush, salt and any other tools they might need to remove snow.
Investing in the right snow removal gear and equipment can also help boost profits.
“Last year I did 70 jobs and made about $3,000,” Simondet said. “I already had a snow shovel and a snowblower, but I ended up investing in a bigger shovel to do jobs faster.”
You should arrive at a job within 45 minutes of accepting it. Once you’re done, you’ll upload a picture of your work to the Shovler app for evaluation.
How Much Money Can You Make as a Shoveler?
A Shovler shoveler can expect to make between $35 and $75 for small jobs, while bigger gigs like clearing small business parking lots bring in more cash.
The Shovler app factors in the size of the job, the type of area to be shoveled and current weather conditions to determine the price.
For example, you’ll make more money during a snowstorm than after a light snowfall. If demand is surging, the price increases.
The person creating the job also has the option to increase the price.
Shovler Pay Rate
Situation
Amount
Details
Parked car
$30 to $40
On a city street
Driveway
$35 to $75
Two-car driveway
Sidewalk in front of house
$35 to $75
Average length
Parking lot
50c to $2 per sq foot
For businesses
Sidewalk
50c to $2 per sq foot
Public or private
Like many side gig apps, Shovler takes a cut from each completed job, and in this case, it’s 20%. However, that won’t impact your expected earnings. The fee is taken out before the job is listed as available.
You’ll need to bring your A game too. If a job is rated lower than four stars, the Shovler app reduces your pay. You’ll get docked 5% for each missing star, so a two-star rating equals a 10% reduction in your pay.
A Holiday Side Gig
Jayson Abro, a Northeast shoveler, said the app makes it easy to earn extra money around the holidays.
“I made more on Shovler in two days than I did trying to do Uber for a month,” Abro told The Penny Hoarder.
Abro said he can quickly find jobs by simply opening the app after a big snowfall.
“We get a few big snowstorms a year so I just log on during those days and see hundreds of jobs and work through the ones that are close,” he said.
Like Simondet, Abro said he made about $3,000 during winter 2020-21 using Shovler.
Another cool perk: Snow shovelers get to keep all the tips they receive. Shovler noted that “over 75% of users tipped their shoveler and the tip amount to shoveler’s pay was an average over 30%!” — that’s quite a hefty bit of extra change coming from tips.
During a 2020 winter snowstorm, Shovler reported that users tipped their shovelers an average of 44%.
All Shovler transactions are completed through the app using credit card information. Shovelers receive payment once the job is reviewed by the customer or 13 hours later, whichever is sooner.
Stripe will transfer money into your account every two to three business days.
How Busy Will You Be Shoveling Snow?
If you’re looking to make Shovler a lucrative job, it’s wise to keep an eye on the local weather forecast.
The app is available everywhere in the United States and parts of Canada, but snowier parts of the country draw more business.
In 2020, New Jersey, New York, Massachusetts and Michigan were the busiest states on Shovler, due to record snowfall in the Northeast. During a typical year, Minnesota, Colorado, Wisconsin and Illinois take the top spots, according to Miller.
“In order to fill every job on the platform we need shovelers everywhere in North America — at least the places that get snow,” Miller said.
Frequently Asked Questions (FAQ)
How Does the Shovler App Work?
The Shovler app connects independent snow shovelers with those looking to purchase their services. The entire process works within the company’s Android and iOS smartphone apps. Rates (and shoveler payments) are set based on the specifics of the job requested.
How Much Do You Make on the Shovler App?
An independent contractor can expect to make between $35 and $75 for small jobs. Larger jobs, such as clearing small business parking lots, bring in more cash.
How Do You Start a Snow Shoveling Side Hustle?
Signing up for an app like Shovler is a great way to connect yourself with locals who need snow shoveling services. You’ll also need to be equipped with the proper warm attire, snow shovels and additional supplies, such as ice salt and car-cleaning tools.
Contributor Jenna Limbach writes on financial literacy and lifestyle topics for The Penny Hoarder. Michael Archambault is a senior writer at The Penny Hoarder.
Information from former Penny Hoarder writer Carson Kohler is included in this report.
The numbers: An ongoing and persistent lack of homes in the resale market is pushing more home buyers into new construction, which caused sales to surge for the second month in a row.
The strength in new home sales was also driven by a massive jump in sales in the south. Overall, new home sales are trending higher as buyers grapple with a low level of home listings in the existing home sales market.
U.S. new home sales rose 4.1% to an annual rate of 683,000 in April, from a revised 656,000 in the prior month, the Commerce Department reported Tuesday.
The number is seasonally adjusted, and refers to how many homes would be built over an entire year if builders continue at the same pace every month.
The jump exceeded expectations on Wall Street. Economists had forecast new home sales to fall to 669,000 in April.
Home builders are constructing new homes at the highest level since March 2022.
The data from February was revised significantly. New home sales rose to a revised 656,000 in March, compared with the initial estimate of a 9.6% increase to 683,000.
The new home sales data are volatile month-on-month and are often revised.
Key details: The median sales price of a new home sold in April fell to $420,800 from the month before. Prices have fallen from a peak of $496,800 in October last year. It’s also the first time prices dropped on a year-over-year basis since 2020.
The supply of new homes for sale fell 3.8% between March and April, equating to a 7.6-month supply.
Regionally, the south led new home sales by 17.8%, but was recovering from a sharp drop the previous month.
Overall, sales of new homes are up nearly 12% compared to last year.
Big picture: Move over, high mortgage rates — low inventory is strangling the housing market, as buyers have few options. Builder confidence is high as homeowners feel compelled to wait and hold on to ultra-low mortgage rates they refinanced into during the pandemic.
Builders have gotten an edge over existing homeowners who are selling by offering incentives from mortgage rate buydowns to other freebies, but it’s unclear how long that will last. The builders’ industry group reported earlier this month that the share of builders reducing home prices fell to 27% in May, from 30% in April.
Plus, the 30-year is inches shy of hitting 7%, which could weigh on the potential buyer’s calculus.
What are they saying? “The broader story is that despite a sharp increase in mortgage rates over the last year, new home sales are up roughly 12%,” Neil Dutta, head of economics at Renaissance Macro Research, wrote in a note.
“Builders continue to benefit from the lack of inventory in the resale market and the room to buy down prospective buyers to lower rates,” he added.
“This spring, new home sales are a more important part of the market than they would be in a more typical year,” Lisa Sturtevant, chief economist at Bright MLS, said in a statement.
While sales of new single-family homes typically form less than 10% of national home sales, this April, the share increased to about 14%, she added.
Market reaction: Stocks were up in early trading on Tuesday. The yield on the 10-year Treasury note
TMUBMUSD10Y,
3.700%
rose above 3.7%.
Working at 36,000 feet may not feel like living the dream, but if you’re traveling for work (or fun), every minute counts. Some U.S. airlines are making it easier than ever to stay connected whether you have your head in the clouds or on the ground.
For the past decade, it was standard to require passengers to pay either by the minute or by the hour to access the airline’s Wi-Fi network on most domestic flights. And for those who were winging it by working through the flight, those Wi-Fi costs added up fast.
Don’t toggle your phone into airplane mode just yet because many national and international air carriers are bringing Wi-Fi service to their fleets. While you can’t take phone calls mid-flight, here are the airlines where flying the connected skies comes standard with your ticket.
Domestic and International Airlines That Offer Free In-Flight Wi-Fi
Want to use those hours in the air to clear your inbox or level up in that guilty pleasure mobile game? Check it off your to-do list because these airlines offer complimentary Wi-Fi as part of your in-flight experience.
Domestic Flights With Free Wi-Fi
Delta Air Lines
The latest airline outfitting its entire fleet with Wi-Fi is Delta. Delta — in partnership with T-Mobile — made free in-flight Wi-Fi available to all passengers on domestic flights in February. By the end of 2024, Delta CEO Ed Bastian promises to have its entire fleet on board with free unlimited Wi-Fi, including regional and international flights.
There’s just one tiny hitch. To access the Wi-Fi, Delta Airlines requires passengers to sign up for a free Delta SkyMiles account. If you don’t want to join the Delta SkyMiles members club, you can still purchase Wi-Fi for a $10 fee per device.
Considering getting an airline credit card? We’ve got the scoop on which ones give you more miles and extra travel perks.
JetBlue
For JetBlue, free Wi-Fi is so 2017 that they coined a word for it: Fly-Fi. For a while, they were the only U.S. airline where unlimited access to the plane’s high-speed Wi-Fi came with your JetBlue ticket.
JetBlue also partners with Amazon, so you’ll earn extra TrueBlue points — JetBlue’s loyalty program — for shopping in-flight. Plus, you’ll get access to Amazon Prime’s library so you can stream Amazon video, music, audiobooks and more.
Other Domestic Airlines With Free Wi-Fi
While JetBlue and Delta are the only national carriers that offer free in-flight Wi-Fi to all passengers, most other airlines are piloting similar programs and perks on select domestic flights.
American Airlines offers some flights where passengers watch a sponsored video to receive 30 minutes of in-flight Wi-Fi. On United Airlines flights, Mileage Plus loyalty members use miles instead of paying a fee to access in-flight Wi-Fi. And Alaska Airlines and SouthWest provide free texting and messaging through iMessage and Whatsapp.
International Carriers With Free Wi-Fi
Domestic airlines aren’t the only game in town for scoring free Wi-Fi. Check out the select international aircraft that help you stay connected for cheap.
Air New Zealand
Air New Zealand not only provides free Wi-Fi on all domestic flights, but it comes complimentary on all international Wi-Fi-enabled flights.
Nok Air
Nok Air is a budget carrier out of Thailand, but there’s nothing cheap about their in-flight benefits. They provide complimentary Wi-Fi access on all Boeing 737 flights.
Qantas
Grab free high-speed Wi-Fi on board B737-800 and A330-200 Qantas flights, courtesy of a partnership with Viasat.
Japan Airlines
Japan Airlines passengers get free Wi-Fi on domestic flights with the exception of a few aircraft that are not yet equipped to provide the service.
Other International Airlines With Free Wi-FI
There are a few other international air carriers that provide in-flight Wi-Fi, but don’t return your tray tables to their upright position just yet because it comes with strings attached.
On Qatar Airways, you can only get 15 minutes or 10 MB of free Wi-Fi via a sponsor. Norwegian Airlines provides 15 minutes of free in-flight WiFI on select flights, and Philippine Airlines offers a complimentary 3 MB chat plan.
At China Eastern Airlines and Shanghai Airlines, in-flight Wi-Fi is first come, first serve. The first 100 lucky passengers on the flight who register 30 days in advance connect to the Wi-Fi free.
Other Ways to Get Free In-Flight Wi-Fi
If you’re stuck schlepping it on a carrier that doesn’t offer free Wi-Fi, you might still be able to snag a cheap (or free) connection. Here’s how.
Leverage Credit Card Perks
Some airline credit cards let you redeem points or miles to reimburse you for in-flight Wi-Fi costs. These include airline credit cards and reward programs from Southwest Airlines, American Airlines, United Airlines and Alaska Airlines.
Earn Premium or Elite Status
Several international and national air carriers allow premium or elite members to earn free Wi-Fi. This includes national carriers like Southwest and international airlines like Emirates, Finnair, Icelandair, Singapore Airlines and Turkish Airlines.
Upgrade to Business or First Class
The perks of business class and first class are more than just extra legroom and bottomless mimosas. These airlines extend complimentary in-flight Wi-Fi on personal devices to those who pay extra not to get stuck hugging their knees in economy class.
Aer Lingus
Emirates Airlines (Emirates Skywards members only)
Icelandair
Philippine Air (100 MB limit)
SAS (Scandinavian Airlines)
Singapore Airlines (First class free, Business class 100 MB limit)
Turkish Airlines (1 GB limit)
Alitalia (Magnifica members only, 50 MB voucher)
Finnair (one-hour, intercontinental flights only)
Swiss Airlines (50 MB voucher)
Pay close attention to the Wi-Fi terms, however, because most airlines listed here have some limitations to internet access.
Trying to find a way to afford first class? Here’s how (and when) to book cheap flights to 8 popular destinations during the shoulder season.
Connect With T-Mobile and Sprint
T-Mobile customers can buckle up and get connected because they’ve already have in-flight Wi-Fi on Alaska, American and Delta flights through their wireless provider. T-Mobile and Sprint Unlimited, Sprint ONE and Sprint Max passengers get free messaging through iMessage, Google Hangouts and Whatsapp, as well as an hour of free data.
Other Airline Perks Worth Checking Out
If you’d rather kick back and not spend your flight streaming, there are a few other airline perks to check out, from free cocktails to complimentary checked bags.
Free In-Flight Beer and Cocktails
Have a flight of beer or wine on your way to Canada, courtesy of Porter Airlines, serving up local brews and vintages. Air Canada has similar alcoholic offerings when you book a flight between Toronto and Montreal. Even WestJet, a low-cost carrier based out of Canada, offers a free glass of beer or wine on regional flights.
Horizon Air will quench your thirst with Northwestern wines and microbrews — and your wine flies free. That is, you can check a case of wine for free from 32 West Coast cities on Alaska, Horizon and SkyWest flights. And of course, a complimentary glass of bubbly or wine comes with the ticket on all long-haul AirFrance flights.
Free Layover From Icelandair
Having a layover doesn’t sound like a perk, but hear us out. What if it’s in Iceland? Icelandair invites all passengers who book their flights to arrange a free stopover for one to seven days — coming and going, if you want — in Iceland to get a taste of what the country has to offer.
Kid Travel Perks
Baby on board? These airlines are on standby to ease your suffering. British Airways feeds kids first on all flights, so you can rest easy when it’s your turn to eat. Some international airlines offer other perks, like Gulf Air’s sky nannies who make the rounds to entertain kids in-flight.
South Korea’s Asiana Airlines literally puts moms first with front-row seats to the bathroom for all expectant mothers and free baby slings and nursing blankets for infants.
Free Checked Bags
If you’re traveling with a lot of baggage (and really, who isn’t), many airlines provide ways to waive the fees and check your luggage for free on most flights. Delta SkyMiles, United Explorer and Alaska Airline Visa members all earn free checked baggage for cardholders and, in some cases, for traveling companions. You always get two free checked bags on Southwest though.
Pro Tip
Looking to duck the baggage fee? Before you try cramming your oversized duffle into a bin, here’s how you can pay less for luggage and avoid other traveling costs.
Priority Boarding
If all you really want is to be first in line to snag a window seat or a coveted overhead bin, you’re in luck. Elite flyers, premium members and some airline credit cardholders earn priority boarding with major airline carriers, including American, United Airlines and Southwest.
Next time you need to fire up the Wi-Fi at 36,000 feet, and you’re not on a JetBlue or Delta flight, consider keeping these tips and tricks in your back pocket to avoid in-flight connection charges. In this case, time really is money, so spend (and stream) wisely.
Looking to snag a flight for cheap? Consider these low-cost air carriers where a heavily discounted ticket price is the best perk of all.
Kaz Weida is a senior staff writer at The Penny Hoarder covering saving money and budgeting. As a journalist, she has written about a wide array of topics including finance, health, politics, education and technology for the last decade.
Americans donate billions of dollars each year to nonprofits — both at home and abroad. That money is essential to helping those nonprofits carry out their missions.
But how do you know that money will be used the way you want?
If you’re donating money to a charity, take a minute to make sure you know where your money is going first.
3 Things to Consider Before Donating Money to a Charity
If you have the money to make donations — or even if you don’t, but feel strongly about a certain cause — it’s important to evaluate the charity first.
Are donation dollars helping support a worthy cause — or supporting high administrative costs?
You want to get the most out of your donation dollars. Here are some tips to help.
1. Make Sure You’re Donating to a Legitimate Organization
It never hurts to check out the charity’s profile on a watchdog site such as Charity Watch or Charity Navigator.
You can search the organization and find its address, mission statement, tax filing status and total expenses vs. total contributions.
Charity Watch will also tell you how much it cost the charity to raise $100, which can be a sign of the organization’s efficiency (or lack thereof).
Charity Watch gives organizations a letter grade, like A, B or C. Charity Navigator rates organizations on a scale of one to four.
2. Know Where Your Money Is Actually Going
You don’t want your hard-earned money to go into someone else’s pockets — unless that’s who you donated it to.
The number that can help you understand where your money is going is called the program efficiency or expense ratio.
Higher efficiency ratios are a good thing. They illustrate a charity’s productivity in providing services in line with its mission.
A general rule of thumb: The most efficient organizations spend at least 75% of their budgets on programs and services, with the rest going toward administration and fundraising costs.
Finding the spending ratio is super simple. Go to Charity Watch and search for an organization. You’ll see a “program expense ratio” that reflects the total expenses a charity spent on programs relative to overhead.
3. Take Note of the Group’s Nonprofit Status for Your Taxes
When you make a donation, check to see if it’s tax deductible. This is important to some donors because donation dollars can be deducted from taxable income. That means it won’t be taxed.
To determine the status of your monetary contribution, look for the charity’s tax status.
You can find an organization’s tax status on Charity Watch or Charity Navigator. Or simply go to the organization’s website, the IRS or GuideStar.
The two most common tax statuses for charities are 501(c)(3) and 501(c)(4).
A 501(c)(4) donation is generally not tax deductible, while donations to 501(c)(3)s are.
As a result, if you’re trying to get a tax break, look for a 501(c)(3) organization before you make your donation.
The IRS has a great resource about charitable donation deductions for those looking to save money at tax time. Read up!
But remember: You can only claim charitable donations if you itemize your taxes. And most Americans don’t itemize.
According to The Tax Foundation, about 87% of Americans took the standard deduction in 2019 instead.
For the 2022 tax year, the standard deduction is $12,950 for an individual, $25,900 for married couples and $19,400 for heads of household.
That means your deductible expenses — including your charitable donations — will need to equal more than $12,950 (or $25,900, if you’re married and filing jointly) to be able to take advantage of a charity tax benefit.
For many of us, that will not be the case.
Rachel Christian is a Certified Educator in Personal Finance and a senior writer for The Penny Hoarder. Carson Kohler is a former staff writer.
Save more, spend smarter, and make your money go further
“Apparently, I’m a financial unicorn,” says Lance Cairns of Georgia, Vermont. Cairns has worked his whole adult life to build a credit score higher than 800, a feat achieved by only 5.7% of all Americans, according to CreditKarma.com. That’s not exactly mythical, but is quite rare.
Cairns has maintained excellent credit since he began building his credit history in his early 20s. His 811 FICO score paid off when he secured low-interest rates on his mortgage and credit cards. But can someone who has accrued substantial revolving debt or made poor financial decisions in the past achieve such a score? Experts – and people who’ve done it – say yes.
Perks of the Credit Elite
Cairns was recently approved for a credit card with a 5.15% interest rate – lower than that of many fixed-rate conventional mortgages. The APR, or annual percentage rate, on his other major credit card is 7.25%. Thanks to his high credit score, Cairns also saves money on his car insurance.
Julie White, another member of the credit elite (her score is 813), enjoys multiple money-saving perks, as well as bragging rights. “My husband’s score is 793 and I lord those 20 points over him,” she jokes.
To start with, White recently obtained a 15-year mortgage with a 4.5% interest rate. “We also got lower fees on some closing costs associated with the bank, and lower homeowners’ insurance costs. Apparently, people with excellent credit are less likely to burn the house down,” she quips.
From 600 to 800+
Unlike Cairns, who has always had impeccable credit, White had a credit score in the low 600s in her early 20s. “When I was making less money, it was harder. I regularly carried balances until about 10 years ago,” she says.
Since debt utilization makes up 30 percent of your credit score – the second biggest factor after timely payments – carrying a balance can keep you out of the credit-elite category.
Once White was able to pay off those balances, her credit score spiked. She keeps it high by using Outlook reminders and online bill-paying so she never misses a payment. “Most of our household bills go on a cash-rewards credit card I pay off each month. I write only a few checks. This reduces the chance of a slipup,” she says.
Randy Mitchelson, owner of the Daily Dollar Newsletter personal finance blog, says White’s experience isn’t unusual. “Time heals all credit issues,” he says. “Assuming the consumer has perfect credit behavior for a 24-month period following bad credit behavior, he can earn a dramatically different score.”
Taking Your Credit from Excellent to Elite
Once you hit the 750 mark, it takes careful credit management to make the jump to 850. Some experts say there’s no real difference in 50 points when you reach the top of the pack, but others say that in today’s lending environment, every point helps. “A FICO score of 750 is great, but it’s no longer a guarantee for the best rates available,” says Wayne Sanford of YourCreditSpecialist.com.
Sanford points to the all-important debt-to-available-credit ratio as one way to give your score a nudge. “If you have a perfect payment history for six to 12 months, you may be able to get a credit line increase just by asking,” he says. That way, a credit inquiry won’t negatively affect your score, but you can lower your debt-to-credit ratio to gain points. “Credit unions and smaller banks are more likely to do this based on your credit history alone,” Sanford advises.
Another way to raise your score is to develop a variety of credit – a mixture of revolving and installment loans. “A good ratio is two revolving loans for every installment,” Sanford says. “So if you have a mortgage and a car loan, you should have four credit cards.”
Of course, you shouldn’t buy a new car just to improve your credit score. Sanford suggests adding your name to a spouse’s existing installment loan – another move you can make without a credit inquiry.
Credit inquiries account for 10 percent of your FICO score, so it’s a good idea to limit them if you intend to join the credit elite. “Retail store cards we apply for to get a discount, cell phone plans, auto loans, apartment rentals… these all count against our FICO score,” says Denise Winston, a money and time-saving expert. “I limit mine to no more than two per year.”
In general, the rules to join the credit elite are simple: make timely payments, keep your credit utilization up to about 25 to 35 percent of your available credit, and minimize credit inquiries.
In addition to the cost savings available to members of the credit elite, there’s another key benefit: peace of mind. The higher your score, the easier it is to stay within the “excellent” category should you make a small mistake. Mitchelson explains: “One late payment may bring you from 810 to 760 and keep you in the ‘A’ credit range, whereas a 720 person with a late payment will fall into the 600s and out of the ‘A’ range,” he says.
For more tips on improving your credit score, check out MintLife‘s Credit Score Primer.
Can You Increase Your Credit Score to 850 is provided by Experian.com
Save more, spend smarter, and make your money go further
Have you ever hosted a yard sale with dismal sales? You made a dollar per hour for your efforts. No fun.
Last weekend, I hosted a garage sale with my brother, my ex-wife, and my girlfriend. It was a raging success. We cleared out tons of stuff, and we netted over $2500 in the process.
I’ve hosted many yard sales over the years (and shopped at dozens more) and have developed some strong opinions about what works best. I’ve heard people complain that garage sales aren’t worth the time. But they can be quite profitable if you do a few simple things.
Happy customers browsing our sale…
Yard Sale Tip Sections
With so many tips, we divided them into ten main sections that cover all the aspects of hosting a yard sale.
If the subject was too large, we broke the main section down into sub-sections to highlight specific topics. Click on any of the hyperlinks to go immediately to that section or sub-section.
Yard Sale tips we consider essential are marked with a happy star ?. But don’t ignore the other tips! They’re all important to know.
Define Your Goal
The kind of event you hold depends on what you’re trying to accomplish, and it’s usually one of two things:
Get rid of stuff (fast) or …
Make as much money as possible.
(Skip to next section)
Scheduling Your Sale
Take Advantage of Different Seasons
Whether you’re trying to get the most money for your things or to sell them as quickly as possible, consider how timing can affect your choice of location, what you sell, how you advertise, and even how often you schedule yard sales.
For example, if you’re moving and you can’t take it with you, a yard sale is the perfect solution. But you may also be up against some tight deadlines that complicate things. How do you make it work in February, or if you only have a weekend, or you won’t have anyone to help you?
On the other hand, if you have a lot of time, you can maximize your result by scheduling a few events that target special or seasonal items. What should you know about merchandising to get the best price?
Depending on your area, you may find that one-day sales are more beneficial. Experiment with which day is best. Maybe a Thursday afternoon/Friday combination is great, or just Fridays.
? You may think it’s best to schedule a yard sale in the summer months, but it’s possible to have a successful yard sale any time of year. In fact, you might even be able to capitalize on the fact that it’s February or November and there aren’t as many yard sales. Think about the pros and cons of each season.
Springtime
Advantages:
In northern climates, a yard sale in spring is an invitation to spend money after being cooped up all winter. There’s an air of optimism that could boost how much you’re able to sell.
Disadvantages:
Weather patterns are often unpredictable, and that could affect turnout. Pay particular attention to location and logistics. Shelter is critical to protect your merchandise and keep customers happy despite conditions.
Advertising:
Be clear about how rainy weather will affect the hours of your sale.
Good Items to Sell:
Sports equipment
Camping gear
Gardening tools
High-quality children’s clothing
Patio furniture
Summertime
Advantages:
The hot, sunny, lazy days of summer make it easier to attract a throng and hopefully increase sales. And since the days are longer, you may only need a single day to sell all your items.
Disadvantages:
Heat and humidity are concerns in summer, so it’s important to provide shade and a place for customers to sit.
Advertising:
It’s even more important to differentiate yourself in advertising. Find your hook free ice water, a kiddie pool, a neighborhood back-to-school sale.
Good Items to Sell:
Back-to-school clothes
Furniture and household goods for dorms/apartments
Outdoor toys bikes, camping gear
Books (especially children’s books)
Electronics
Autumn
Advantages:
Fall still offers pleasant weather, but the most hard-core (read: negotiate-like-crazy) customers are burned out.
Disadvantages:
Depending on your area, wind and weather patterns can be unstable. That doesn’t usually affect turnout, but it’s another reason to protect your merchandise.
Advertising:
Your customers may be looking for, or college students may need, your furniture and household goods to furnish dorms or apartments. Highlight these items in your advertising, as well. Maybe even title your sale as a Back-to-school yard sale!
Good Items to Sell:
Winter items
Exercise gear
Picture frames
Holiday decorations
Collectibles
Wintertime
Advantages:
In the lower latitudes, winter yard sales may continue on just as they do in the fall. Not so in the cold climate of the higher latitudes. Still, motivated buyers find motivated sellers in the winter months too. The winter months may be the best time to find bargain-hunters.
Disadvantages:
In winter, location and logistics are critical. A community or church hall may offer the best environment for a yard sale if they will work with you. Even a storage facility may permit a yard sale on their grounds if you’re a customer.
Advertising:
Give clear directions for parking and how to access any buildings.
Good Items to Sell:
Space heaters
Firewood
Tools
Furniture
Clean linens and blankets
Merchandise
With yard sales, word gets around. So stock your sale with lots of stuff to pull the biggest crowds and generate buzz.
Locate and sell anything you no longer want or need. Aaron LaPedis, author of The Garage Sale Millionaire, suggests taking an inventory of all of your possessions in order to determine what you should sell and what you should keep. “Make sure you go through your house top to bottom — every closet, drawer, nook, and cranny,” says LaPedis. “Nothing is too small or too big to sell.” And make sure you have enough stuff.
? Don’t base what you sell on what you would buy. You never know if someone likes to fix broken things or is looking for materials for an art project. If it’s something you don’t want and it’s safe, put it in your garage sale.
Offer to sell stuff for family and friends. Ask around to see if anyone has big-ticket items to sell. Not only does this help them, it also could potentially draw more customers to your sale.
Look beyond household stuff as your merchandise. Do you have plant starts you could pot and sell? How about leftover building or landscape materials?
Take the time to wipe off the dust and dirt. Clean stuff sells better. Period.
Differentiate!
All garage sales are basically the same. Find a way to set yours apart, whether it’s by theme, price, scale, or amenities. Last weekend, for instance, I billed ours as a “geek garage sale”, and emphasized that I had graphic novels, board games, and computer gear. My Craigslist ad brought folks from far and wide because of this. They bought the geeky stuff, but they also bought kitchen gadgets and yard art and clothing.
Label your sale. Lots of graphic novels, board games, and computer gear? Bill it as a “geek yard sale.” We did this last weekend and my Craigslist ad brought folks from far and wide because of this. They bought the geeky stuff, but they also bought kitchen gadgets and yard art and clothing.
Free delivery! If you have several large items to sell, another way to differentiate yourself is to find a couple of volunteers with trucks who wouldn’t mind delivering items — for free — after the sale.
Partner with your neighbors! Neighborhood garage sales attract tons more customers, so talk to your neighbors and spread the word ahead of time to arrange multiple sales. Find out what your neighbors are selling and offer to refer your customers to them. Or, better yet, hold your garage sale during an established entire-neighborhood garage sale day.
Offer free lemonade, cookies, or even just ice water. Most garage sales are held on hot days so a jug of watery lemonade or refreshing ice water is a nice gift for your customers. Don’t forget that visiting pets get thirsty too.
Engage the customers. Be friendly. Chat up the people who stop by. Be engaging. When parents with young children visit, I always find something to give the kids for free (often it’s whatever they’ve gravitated toward). I also throw in freebies for folks who buy lots of Stuff. This builds goodwill, especially among the other customers who are watching things transpire. I believe we sold more because Kim and Kris and I were friendly and fun.
Advertising
Getting the word out about your sale is critical to your success. In the old days, advertising meant sticking an ad in the newspaper, which would normally cost around $20. Newspapers may still be useful today, but other (free!) methods exist.
Here’s how to advertise to get more customers today.
Neighborhood Publications:
If you’re hosting a yard sale along with others in your neighborhood, check if they publish the yard sales. This may be free or cost a nominal fee.
Craigslist:
To get the most value from a Craigslist ad…
Advertise the date and location of your sale.
Add pictures and descriptions of the nicer items.
? Put up ads for the most valuable things in their respective categories on Craigslist. Some people might not be browsing in the garage sale section but might see your ad for the table set in the furniture section and come to the sale for it and more stuff.
Once it sells, delete that listing immediately as a courtesy.
Make your Sale Shareable. Social Media is your Friend:
?Facebook, Twitter, Instagram use them! The entire week before the sale, post on social media about your merchandise. Include pictures. During the day of the sale, update your status or tweet on what you still have available.
Nine Tips to Make your Signs Sizzle!
Your goal is to get as much traffic as possible. If your signs are unclear or difficult to read, people won’t waste their time, especially if there are dozens of yard sales to choose from. Simple is best!
I’m shocked at how ineffective most garage sale signs are. It’s like people don’t care, or as if they don’t spend twenty seconds putting themselves in the shoes of their customers. Keep signs clean and neat. Make sure everything’s legible. Make sure nothing’s ambiguous. Clear signage is worth its weight in gold. Our signs included the address, the date and time of the sale, and an arrow pointing the way. I hung a dozen of them along the major traffic roads in the area, funneling people onto our street.
Our signs also had the address and an arrow pointing the way…
Design to inform and intrigue
Use bright colors to attract attention.
Use a thick marker of a contrasting color to make big, bold text.
Adding a border around your text may increase readability. Remember that your customers are cruising by at 35 miles per hour!
Have large arrows pointing in the correct direction. It’s so much easier to follow arrows than to slow down to read an address.
Remember that superlatives rule Awesome! Blowout! Epic!
Where’s your sign?
Post multiple signs around your neighborhood.
Place signs at nearby major intersections and at each turn along the way.
Also, take a practice drive past one of your signs. Do people have time to read it, make a decision, and make the turn, before they’ve driven past it?
After the sale is over, remove all the signs!
Supplies
The right supplies can make your sale run more smoothly. So as you get closer to the big day, gather everything you need.
Borrow tables and shelves to display your merchandise. Having a check-out table can be helpful. It helps people know exactly where to go to ask a question, and placing the table near the exit allows you to welcome people in while watching that they don’t walk off with anything.
? Apron or fanny pack for the money. I use a cheap cloth apron/utility belt from the local hardware store. It works beautifully. Some people use fanny pack or a zippered bank deposit pouch.
Markers, scissors, masking tape, price stickers, and poster board. As you change prices throughout the day, you’ll use these items. Also, use these supplies to mark items that are NOT for sale.
Paper/pencil. Use this as a ledger to jot down a description of each item and how much you sold it for or to place stickers on a page for each seller. (This can help make it easier to settle up after the sale if you have a neighborhood event.)
Calculator. Having a calculator will expedite your checkout line and make it easier if you’re not especially gifted at math!
Batteries. Keep an assortment of batteries on hand so that a prospective buyer can test that old Nintendo Gameboy for himself.
Extension cords. If you are selling electrical items, make sure you have an extension cord handy or display these items near a plug so people can test them.
Bags/boxes for customer purchases. Collect free bags/boxes before your sale so your customers can haul away their purchases.
Hangers and a method to hang clothes. Searching through hanging clothes is much easier than pawing through a table covered with clothes.
Plenty of cash. Get two rolls of quarters, a stack of 50 $1 bills, 10 $5 bills, and 5 $10 bills. Do it two days before the sale so that, if you forget, you can still get the change on the day before.
Pricing
Know your purpose. “There are two types of garage sales,” an old man told me last weekend. “One is to make money. The other is to get rid of Stuff.” Know which type of sale you’re holding and why. Your purpose will affect how much you negotiate and how much you give away for free.
As mentioned above, be clear on the purpose of your sale. Are you selling things to make money or to get rid of them? This question affects everything you do, from how you price things to how willing you are to negotiate. Surprisingly, you can often make more money (and get rid of more junk) by pricing things low. (If your goal is to get top dollar, you should really be selling on eBay or Craigslist.)
Oh, and lose your sentimental attachment. Unfortunately, no one cares how much you paid for an item or how many memories are attached to it. It’s a sunk-cost. They just want a bargain!
How to Establish Price
Know the value of your items. By doing some research on eBay or Craigslist, you might discover that some of your items are worth way more than you thought. However, this does not mean you should actually charge those prices. By attending yard sales yourself, you’ll have a general idea of what an acceptable price is. Also, you’re probably safe by pricing things somewhat below what the area thrift stores charge.
Don’t price your stuff too low. People like to bargain, so allow some wiggle room. Also, you want to make money. You can always have a 50-percent-off sale over the last couple hours.
Price items like a store. If you have a lot of something, “Buy 3, get 1 free” works really well.
Other pricing strategies. Fill this box for $10 or fill this bag for $5. Anything not valuable can go on tables dedicated to that and you will get rid of all sorts of stuff that people might not buy individually but might stuff in a box.
To Price or not to Price.
Pricing items is a pain, no question.
Some people find it more profitable not to price anything because customers are turned off if the price is too high.
However, most customers prefer priced items, if only as a starting point for haggling.
Opting for a hybrid approach may require pricing larger items, or grouping like items on a table and then placing a sign on the table for the prices.
You can also place anything worth less than $5 or $10 on a table with a note to make an offer.
Another innovative approach is to mark by colored stickers only and having a master price list or two. As the day goes on, you can easily change the master price lists without changing prices on the individual items.
Be Willing to Bargain, but be Less Flexible at the Start.
If you just want to get rid of your stuff, you probably won’t mind haggling over anything.
But if you’re interested to make some money for your efforts, don’t haggle over a low-priced item or two. If your customers buy several things, cut them a deal.
Also don’t cut prices by much the morning of the sale, unless they are buying a ton of stuff. Tell them that you’ll cut prices a couple of hours before the end of the sale, and if they’re willing to take the chance, they can come back later. Or offer to take their phone number, and say “I’m sorry, but I’m not comfortable selling it at that price. Would you like me to call you if it’s still here at the end of the day?”
By the end of the sale, it’s best to practically give things away rather than face the prospect of having to deal with it later.
Staging
Too many garage sales are a haphazard collection of Stuff piled every which way. Don’t be like that. Take lessons from supermarkets and department stores. “Organize things so they’ll catch the shopper’s eye,” Kris says. “And don’t have depressing music playing.” (At the start of the sale, I had some New Age music on the stereo. “It sounds like a funeral,” she told me. She had me put on Elton John’s greatest hits instead, and people loved it. Sales improved!)
If you really want more bang for your buck, borrow from the big retailers’ playbook for how to display your merchandise.
Prepare your window display. How do regular stores get people to stop in? By creating intriguing/beautiful/interesting window displays. You won’t have window displays but use the concept. You can lure more customers by placing highly-desirable items near the road.
Move your customers to the right. For whatever reason, shoppers prefer to move through stores counter-clockwise. To get your customers to do the same, you can set up a table with free lemonade to the right, or display good items (but probably not the most expensive), or colorful, items to the right. You may want to place your most expensive/desirable items in the back of the garage, on the wall. As long as your customers can see these items from the garage door, they will walk past all your other items first.
Display items to their advantage. Too many garage sales are a haphazard collection of stuff piled every which way. Customers want bargains with the feel of a store. Put the highest value items at eye level or clearly marked on a high-value table. Organize things so they’ll catch the shopper’s eye. Hang up clothes, sorted by size, with the sizes clearly labeled.
Slow your customers down. Instead of lining your garage with long tables, consider staggering them in such a way that your customers slow down — without creating bottlenecks, of course.
Make it cohesive. Establish themes. While you can group like items together, also consider grouping items of the same color, or by theme. One theme could be music: Gather old instruments, CDs, and old speakers together.
Shed a little light. Lighting is important in big box stores, and it’s just as important at your yard sale. Make sure all light bulbs are working in the garage. Consider setting up table lamps and white Christmas lights to brighten the atmosphere.
Promote expensive items. Big-ticket items can be tough to sell, but you can do it with a little extra effort. For example, if you have a digital camera to sell, gather all the bits and pieces and place them together on a table along with a printout of the Amazon page for the camera.
Think like a customer. As soon as you’ve opened and fielded the initial flood of shoppers, walk through your sale as if you were there to buy something. How does it feel? Are things clearly marked? Is it easy to move around? Visualize any potential bottleneck areas. Are your books on the ground in boxes or are they placed neatly on shelves and tables? As things sell, move items around to fill in the gaps.
Make it easy for shoppers to test electronic items. If it is a sound or video electrical item, take a retailing idea from the pros and set it up to play. A TV that is playing will sell much better than one that is off. This is also true of sound electronics. Play videos on TV. People will start watching and ask to buy the video.
Create visual interest. While you want all the customers to see into your garage clearly, don’t forget that staggering items at various heights along your garage walls creates visual interest and allows better visualization.
Display impulse purchases. Wherever customers check out, conspicuously place inexpensive, fun items.
Have a box of free stuff. Nothing is more fun than finding something for nothing, so place a large, well-marked “FREE” box close to the curb. Mention the free box on the main Craigslist ad and place an individual Craigslist listing in the Free category.
Complementary items. Have a pile of complimentary items and let buyers pick one item to go with each purchase. It could be any old junk, but people will love getting a freebie.
Set up a lemonade stand. Instead of giving away free lemonade, your child can sell lemonade — and make her own money!
Be the Pinterest of yard sales. Your customers may think something looks cool, but they aren’t really sure how they’ll use it. Consider displaying some of your merchandise on furniture you have for sale. By displaying the item in an interesting way, or even printing out some craft projects you found on Pinterest, you may inspire your customer to take the treasure home.
Avoiding Problems
The Early Birds.
Warn in your ads that “early birds pay double.” Otherwise, you’ll be stuck fumbling for change and entertaining these folks rather than getting your items ready. Or if you don’t want early birds to show up, don’t put your entire address in your ad. Then, just before you open, put out the signs and open the garage door. And don’t take money (meaning, no sales) until you are ready.
Future Burglars.
Unless you personally know them, don’t allow anyone in your house. If they ask for a bathroom, direct them to the closest public restroom.
Do NOT Use a Cash Box.
Carry your money on you at ALL times. You don’t want to present a target for casual thieves. More than that, you don’t want to be duped by professional swindlers who run distraction con games. It happens. It is devastating to see the profits from all your labor and the proceeds from your hard-to-part-with items vanish in an instant. This happened to a woman on our street on the last day of the sale last year. Do NOT use a cash box. I use a cheap cloth apron/utility belt from the local hardware store. It works beautifully. Some people use fanny pack or a zippered bank deposit pouch.
Don’t Bad-Mouth your Items.
A decade ago, Kris and I held a garage sale with a group of friends. One guy constantly told customers what was wrong with the items they were purchasing. “Oh, that book is awful. That’s a terrible movie. That skillet doesn’t heat very well. That game is boring. Needless to say, we sent this friend inside to drink beer ASAP. Your goal is to sell the items. Don’t lie — just emphasize the positives. Oh, that book is very popular. That movie won three Oscars. That skillet is great for pancakes. That game is fun for kids.
The Hostess with the Mostest.
If having a group yard sale, pick the best location in terms of traffic or accessibility or parking (and don’t forget to clear parking spots on the big day for customers). Offer the host a bonus such as a percent of the sale or a hosting fee. Also, go over ground rules such as the bargaining policy, etc.
(If you have an option to select the home where the sale is hosted, select a home with a shaded drive, if possible.)
Wrapping It Up
Have a plan for what you’ll do with your unsold merchandise.
Some non-profits will pick up unsold stuff, so research this ahead of time.
If you are going to drop anything off at a thrift store, know their drop-off times/days. Also, check to see if there are any limitations on what they accept.
Post on the local freecycle (www.freecycle.org) that, after a certain time, whatever is left is free for the taking — and remember to include your address. If you’re lucky, people will schlepp it away for you!
Even after years of purging, I still have too many books…
We’d only intended for ours to be a two-day sale, but we did so well that we decided to open Sunday too. This time, we re-branded. Because we still had shelves filled with classics, graphic novels, and photography manuals, we billed ourselves as a “book sale”. Surprisingly, this still brought folks in. Traffic was much lighter than previous days, but we still cleared $400.
In the end, we sold $2,454.90 worth of Stuff. Kim and Kris and Jeff didn’t do as well as I did — none of them spent a lifetime making foolish financial choices and “collecting” books and records and comics and other toys — but everyone seemed happy with the money they earned. And as for me? After years of battles, I think I’ve finally won the war on Stuff!
A great yard sale begins with a great plan. What are your best yard sale tips?
If you’re actively enrolled in any sort of accredited higher education or certification program, you’re eligible for a whole slew of student credit cards.
Sorting through all your options can be a chore, but take my word for it: You want to consider the Bank of America® Travel Rewards Credit Card for Students. It’s one of the best student credit cards on the market — if you qualify.
And qualification is just one of this card’s curveballs. Before you apply, make sure you understand all its ins and outs.
What Is the Bank of America Travel Rewards Credit Card for Students?
The Bank of America Travel Rewards Credit Card for Students is a student credit card with no annual fee and a flat-rate rewards program.
Notable features include a better-than-average sign-up bonus and an unusually long 0% intro APR promotion on purchases and balance transfers. If you have a Bank of America checking account, you can (but aren’t required to) use your card for overdraft protection. There’s no transfer fee for this service, but interest begins to accrue right away.
What Sets the Bank of America Travel Rewards Credit Card for Students Apart?
While not wildly unique, the Bank of America Travel Rewards Credit Card isn’t a typical student credit card. It stands out for several reasons:
Unusually generous sign-up bonus. This card has the best sign-up bonus of any student credit card on the market. If you can meet the reasonable early spending requirement, it’s an excellent incentive to open an account.
Unusually long 0% intro APR promotion. This card also has a category-leading 0% intro APR promotion: 18 months for purchases and balance transfers. Whether you’re planning a big purchase ahead of the semester or need to pay down existing high-interest credit card debt, there’s no better student card.
High credit standards. This card has unusually picky underwriting standards, at least compared to other student cards. You need good credit to qualify.
Key Features of the Bank of America Travel Rewards Credit Card for Students
The Bank of America Travel Rewards Credit Card for Students has is a basic rewards credit card with student-friendly features like an above-average sign-up bonus, an average rewards program, and a very impressive 0% intro APR promotion.
Sign-Up Bonus
Earn 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening. That’s worth $250 when redeemed for a statement credit toward travel and dining purchases.
Earning Rewards
All eligible purchases earn 1.5 points per $1 spent. There’s no limit to how many points you can earn, and points don’t expire as long as your card remains active and in good standing.
Redeeming Rewards
The best way to redeem is for statement credits against eligible travel and dining purchases. Each point is worth $0.01 when you redeem, so a 20,000-point redemption is worth $200.
0% Intro APR Promotion
This card has a 0% intro APR promotion on purchases and balance transfers for 18 months from account opening. After that, variable regular APR applies, currently 17.74% to 27.74%. You must make qualifying balance transfers within the first 60 days of account opening.
Important Fees
This card has no annual fee or foreign transaction fee. The balance transfer fee is 3% of the transfer amount.
Overdraft Protection (Balance Connect)
If you have a Bank of America checking account, you can link it to your credit card for overdraft protection. When your bank account balance goes negative, Bank of America charges your credit card for the difference, negating the overdraft.
There’s no transfer fee for this service, but transfers immediately begin accruing interest, so you should pay them off as soon as possible to reduce your cost.
Credit Required
This card requires good or better credit to qualify. If your FICO score is much below 700, you could have trouble qualifying. This is an unusually strict requirement for a student credit card.
If you opt in, you can get your FICO score monthly through your Bank of America account dashboard. This doesn’t affect your approval chances (you already have the card, after all), but it’s a nice way to keep tabs on your credit for free.
For more information, see our article on good versus bad credit.
Advantages
This card has several things going for it, including no annual fee, unlimited rewards, a very impressive sign-up bonus, and a category-leading intro APR deal.
No annual fee. This card has no annual fee, which is ideal if you don’t use it all the time or don’t spend enough to offset a recurring charge.
Unlimited rewards. There’s no limit to your rewards-earning potential with this card. Some student cards cap earnings, so this is notable.
Impressive sign-up bonus for a no-annual-fee card. This card has the best sign-up bonus in the student credit card category. In fact, it’s one of the better sign-up bonuses of any no-annual-fee rewards card.
Category-leading 0% intro APR promotion. This card’s 18-month 0% APR promotion on purchases and balance transfers is another unusual and appealing selling point for a student credit card. It blows other student cards’ 0% intro APR deals out of the water.
Low-cost overdraft protection. If you have a Bank of America checking account, you can use your credit card to back it up if (or when) your checking balance goes negative. Many credit cards don’t offer an overdraft protection option at all, and Bank of America’s is notable for being transfer-fee-free.
Disadvantages
Watch out for this card’s picky underwriting, capped rewards rate, and limited value-added perks.
Picky underwriting. By student credit card standards, the Bank of America Travel Rewards Credit Card for Students is difficult to qualify for. You need good credit or better, which many students can’t swing.
No way to earn above the 1.5x baseline. This card has no bonus rewards categories or tiers. Your earning rate tops out at 1.5 points per $1 spent, no matter what you spend your money on — lower than many competing cards.
Few value-added perks. This card has little in the way of perks and benefits. Most travel cards offer extras like airport lounge access or hotel freebies, but not this one.
How the Bank of America Travel Rewards Credit Card for Students Stacks Up
The Bank of America Travel Rewards Credit Card for Students is a good student credit card, but not so good that you shouldn’t consider any others before applying. See how it compares against the Capital One SavorOne Student Cash Rewards Credit Card, another popular (and relatively generous) option.
Bank of America
Capital One
Annual Fee
$0
$0
Sign-Up Bonus
Generous
Less generous
Rewards Rate
1.5x
Up to 8%
0% Intro APR
18 months
None
Foreign Transaction Fee
$0
$0
Credit Needed
Good or better
Fair or better
Final Word
The Bank of America® Travel Rewards Credit Card for Students has some notable perks that aren’t common in the student credit card space. Its sign-up bonus beats out many adult cash-back credit cards, its 0% intro APR promotion is also category-leading, and it earns rewards on all eligible purchases.
The catch: This card is unusually difficult to qualify for. That’s a potential problem for students with limited (or nonexistent) credit histories. By all means, try your luck — but don’t be surprised if you need to settle for a less generous card until your credit is in better shape.
The Verdict
Our rating
Bank of America® Travel Rewards Credit Card for Students
Sign-up bonus: Yes
Rewards rate: 1.5x points
Redemption: Dining and travel statement credits
Intro APR: 0% on purchases and balance transfers for 18 months
Annual fee: $0
Credit needed: Good or better
Editorial Note:
The editorial content on this page is not provided by any bank, credit card issuer, airline, or hotel chain, and has not been reviewed, approved, or otherwise endorsed by any of these entities. Opinions expressed here are the author’s alone, not those of the bank, credit card issuer, airline, or hotel chain, and have not been reviewed, approved, or otherwise endorsed by any of these entities.
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Brian Martucci writes about credit cards, banking, insurance, travel, and more. When he’s not investigating time- and money-saving strategies for Money Crashers readers, you can find him exploring his favorite trails or sampling a new cuisine. Reach him on Twitter @Brian_Martucci.