The dean’s list is a list of undergraduate students recognized for outstanding academic achievement in a given semester, quarter, or year. Each college and university has different dean’s list requirements, but students who finish the term with a high grade point average (GPA) and are in the top percentile of their class for academic performance can earn a spot on the dean’s list.
Not only is having the dean’s list award on your transcript a remarkable personal achievement, but it could also make a big impact on grad school admissions and future employers.
Dean’s List Meaning
The dean’s list is a scholarly award for undergraduate students who achieved high scholastic standing during the academic year. The award is released after each semester, quarter, or academic year and is typically based on a student’s GPA. However, specific dean’s list requirements will vary by institution and can change each term.
Dean’s List Requirements
Dean’s list requirements vary by college and can change each term, but there are typical conditions that a student must meet. To meet basic dean’s list requirements, students must:
• Meet the minimum GPA requirements set by the school.
• Be in the top percentile of their class for academic achievement.
• Be taking a minimum number of credit hours. Most schools require students to be enrolled full-time, but some schools may include part-time students in the dean’s list.
• Have zero incompletes, no shows, or late grades.
What GPA Is Needed to Make the Dean’s List?
While schools may base eligibility for the dean’s list on the student’s GPA, the award is comparative rather than absolute. The award is only given to the top percentile of students rather than everyone who earns a certain GPA. This means that the required GPA can change each semester based on the academic performance of the student body.
Students can strive for a GPA of 3.5 or higher on a 4.0 scale and be taking a minimum of 12 credit hours, but this may be different depending on your school and your degree program. Check with your school to determine the minimum GPA requirement to make the dean’s list.
Recommended: How Much Does GPA Matter When Applying to College?
What Is the Benefit of Being on the Dean’s List?
Earning a spot on the dean’s list is one of the highest levels of recognition for academic achievement. Students who earn the award can enjoy a variety of benefits that can continue throughout their educational career and beyond.
Personal Achievement
Making it onto the dean’s list requires academic commitment and dedication. Being on the dean’s list means you’ve ranked in the top percentile amongst your peers, which will be noted on your school record and should be seen as a great personal achievement.
Prestige
Having your name on the dean’s list, especially for multiple terms, is one way to help you stand out from the crowd. The dean’s list award is a testament to your academic success and has traditionally been looked upon favorably by the school’s administration as well as by other students.
Recognition
Some schools recognize students who made it onto the dean’s list by posting students’ names on the school website and sometimes local publications. Outstanding academic performance can also help you build relationships with your professors, who may be able to write letters of recommendation and references later on.
Special Events
Because your GPA is ranked among the top of your class, you might receive invitations to special events. These are typically networking events with top company executives. Networking can allow you to form connections with other people in your field of study and open the door to possible employment opportunities.
Attract Prospective Employers
Some colleges may include your dean’s list award on your school transcript, and you can also attract potential employers by mentioning this award on your resume. However, employment website Indeed doesn’t recommend adding this achievement to your resume if you were only on the dean’s list for one or two semesters or inconsistently.
Even if you don’t include the dean’s list on your resume, prospective employers may still consider your GPA when making hiring decisions. According to the National Association of Colleges and Employers’ Job Outlook 2022 Spring Update report, 43.5% of employers screen by GPA when making interviewing and hiring decisions.
Scholarships
While being on the dean’s list doesn’t guarantee any financial aid, a high GPA could make you eligible for merit scholarships. Merit-based scholarships typically use your GPA, test scores, leadership capabilities, and other factors to determine your eligibility.
Are There Any Student Loan Benefits When Getting on the Dean’s List?
There usually aren’t any financial perks for getting on the dean’s list with federal student loans or most private lenders. Some private lenders may offer a reward for a certain GPA, but most lenders typically only consider your GPA if it’s too low.
Your GPA could affect your eligibility for other types of financial aid, like scholarships and grants, though. You’re required to make Satisfactory Academic Progress (SAP) to meet the basic eligibility criteria for certain types of financial aid. A higher GPA also makes it easier for you to receive more financial aid. 💡 Quick Tip: You can fund your education with a low-rate, no-fee private student loan that covers all school-certified costs.
What Other Academic Awards Can You Earn in College?
The dean’s list isn’t the only academic award that you can earn in college. There are several other awards that are given to students in recognition of outstanding achievement and as a means to further encourage academic excellence. Here are a few academic awards for college students.
The Honors List
The honors list is similar to the dean’s list; however, it may have different GPA requirements — usually lower. For example, students may be eligible for a spot on the dean’s list if their GPA is 3.5 or higher, while students on the honors list have a GPA between 3.25 and 3.5.
The President’s List
Undergraduate students earn the president’s list award if they get straight A’s in college and earn a 4.0 GPA. Part-time and full-time students may be eligible for this award.
The Chancellor’s List
At schools that offer this award, the chancellor’s list is typically ranked slightly higher than the dean’s list. Both full-time and part-time undergraduate students may usually qualify for the chancellor’s list.
Ways to Pay for College
If you’re aiming to see your name on the dean’s list, financial stress can hinder your ability to succeed academically. According to Inside Higher Ed, 48% of students who experienced financial challenges while in school admitted they had difficulties focusing on their academics.
Luckily, there are options out there for prospective and current students who are struggling with how to pay for college. Here are a few options:
• Fill out the Free Application for Federal Student Aid (FAFSA®) to see if you qualify for financial aid. Make sure to read our FAFSA Guide and fill this out as soon as possible because many colleges award money on a first-come, first-served basis.
• Search for scholarships, which are a form of merit aid to help pay for tuition and other education expenses. There are thousands of available scholarships to students with some even offering a full-ride to a four-year institution.
• Apply for grants. Grants are another form of financial aid that doesn’t need to be repaid. Students can apply for federal, state, or school grants.
• Find a work-study position. The federal work-study program offers funds for part-time employment to help college students in financial need.
• Look at student loans. If you are still struggling to afford school-related expenses after exhausting all other forms of financial aid, there are a variety of federal and private student loan options to help.
Recommended: FAFSA 101: How to Complete the FAFSA
The Takeaway
Students who make the dean’s list are recognized for outstanding academic achievement. Benefits include personal achievement, prestige, public recognition, the opportunity to attend special events, being granted scholarships, and standing out on job applications.
And, students who are less stressed financially tend to do better in school. Options for paying for college include scholarships, grants, federal student loans, and private student loans.
If you’ve exhausted all federal student aid options, no-fee private student loans from SoFi can help you pay for school. The online application process is easy, and you can see rates and terms in just minutes. Repayment plans are flexible, so you can find an option that works for your financial plan and budget.
Cover up to 100% of school-certified costs including tuition, books, supplies, room and board, and transportation with a private student loan from SoFi.
FAQ
What GPA is required to get on the dean’s list?
The minimum GPA for the dean’s list varies by school and it can change every term. However, most schools require at least a 3.5 GPA on a 4.0 scale.
What does it mean when you get on the dean’s list?
What it means to be on the dean’s list is that you’ve ranked in the top percentile of your class. The dean’s list is one of the highest levels of recognition for scholarly achievement.
What is the benefit of being on the dean’s list?
Earning a spot on the dean’s list comes with several benefits. Not only is it a prestigious award and a significant personal achievement, but you could be invited to special events, network with others in your field of study, and attract prospective employers.
Photo credit: iStock/Prostock-Studio
SoFi Private Student Loans Please borrow responsibly. SoFi Private Student Loans are not a substitute for federal loans, grants, and work-study programs. You should exhaust all your federal student aid options before you consider any private loans, including ours. Read our FAQs.
SoFi Private Student Loans are subject to program terms and restrictions, and applicants must meet SoFi’s eligibility and underwriting requirements. See SoFi.com/eligibility-criteria for more information. To view payment examples, click here. SoFi reserves the right to modify eligibility criteria at any time. This information is subject to change.
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Working with a recruiter can speed up a sluggish job search and help you find roles that aren’t listed publicly.
Here we’ll discuss, with templates, how to reach out to a recruiter on LinkedIn. We’ll also cover how to find a promising recruiter on LinkedIn and in other ways.
1. Prepare to pitch a recruiter
Before contacting a recruiter, update your resume, cover letter and LinkedIn profile. Also practice articulating your accomplishments and certifications, suggests Jauné Little, director of recruiting services at Insperity, which sells human resources services to companies.
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Depending on their industry, recruiters are often managing dozens of candidates and open positions, and sifting through hundreds of job applications. So Little also suggests identifying skills or experience you have that other candidates don’t. That might look like experience at a massive company in your industry, a unique degree or an unconventional work history.
Practice spelling out that distinction, and think about how you’d talk about those attributes to a recruiter.
“You really have one shot at making a lasting impression,” Little says. “So make it a good one.”
2. Find a recruiter on LinkedIn
To find recruiters on LinkedIn, search “recruiter” alongside your desired industry or job in the search bar. If you can, get specific; a search for “medical devices sales recruiter” will offer better results than “sales recruiter.”
You can also search for recruiters by city and company; for example “Dell recruiter” or “Oklahoma City recruiter.”
To filter your search results to only people’s profiles, click the “People” button at the top of the search results. Scan the results carefully; if you search “Lyft recruiter,” for example, some of the profiles in your search results will belong to former employees who list Lyft on their profiles.
3. Reach out to the recruiter on LinkedIn
Once you find a recruiter, request to connect. LinkedIn doesn’t allow users to directly message people they aren’t connected with, but you can include a message in your connection request.
Keep your message short and simple. Recruiters are busy people; if your message is too long, they’ll often skip it entirely.
“Iheard a recruiter from Google say that the worst thing he sees on a resume is a text brick,” says Lisa Severy, a career advisor at University of Phoenix.
Here’s an example of what you could include in a LinkedIn connection request:
Hi, [name]. I hope this finds you well. I’m a [position] with [X years] experience in the industry, and am based in [city]. I’m searching for opportunities to [get specific; list what jobs you’re interested in, or what industry you’d like to work in]. I’d love to connect and discuss this further with you. Thank you!
4. Follow up with your resume and another message
If the recruiter accepts your connection, you’re then able to directly message the recruiter. If you included a message in your LinkedIn connection request, wait a day before sending them a direct message.
Attach your resume to your message. Keep your message straightforward and to the point. It should look something like this:
Hi [name],
Good to connect with you! My name is [name], and I’m a [position] in [city] looking for new opportunities [in industry or at a specific company].
I have [X] years of experience in [your industry]. [Include 1-2 sentences listing your accomplishments, certifications or unique job responsibilities that distinguish you from other candidates.]
I’d love to chat with you about any open positions for which I may be a good fit. Are you available on [date] for a phone call?
Thank you,
[your name]
Once you’ve sent your message, give the recruiter a few days before following up with another message. If your second message goes unanswered, it’s probably best not to follow up again.
There’s a good chance that’ll happen to you, and it’s not personal — Severy warns candidates that a lot of messages to recruiters will go unread. That’s why it’s a good idea to reach out to several recruiters. It’s a numbers game. Eventually, you’ll find your match.
Other ways to reach out to recruiters
Experts agree that, in most cases, the easiest way to find a recruiter is on LinkedIn. If you don’t have a LinkedIn profile, get one, and use these tips to make a compelling page.
Not having a LinkedIn profile these days is “questionable,” Little says.
If you don’t want to use LinkedIn, search online for recruiting agencies that focus on your industry. It may be harder to find an individual recruiter’s contact information that way, though.
Additionally, check a company’s job listings to see if a recruiter’s contact information is listed on the postings.
For teenagers, life can often be full of confusing changes and unexpected choices. What may have seemed straightforward in childhood is now complex and challenging. Experiences such as developing relationships, contemplating the future, and deciding about education options or career paths are all part of the teenage experience. Even when we think we know what direction to take, our perspectives on these matters can shift quickly. Below are the top 20 truths for today’s young adults to give them some peace and assurance about all the decisions and change.
1. Take Your Time
One user said, “It’s okay to not resolve something immediately. If someone doesn’t answer your text/WhatsApp/Facebook message, if you need to take some time to think if you want to join in that fun event, if you hear that phone ring and you miss it, If you’re not answering to a social media post, things aren’t going to blow up. Real life requires you to do one thing at a time, well or great, and not a million things.”
Another user replied, “Except important stuff…like finances…pay your bills RIGHT AWAY.”
2. You Will Get Behind Sometimes
One user shared, “While school has a structure in place to prevent you from falling behind, real life doesn’t offer the same safety net.”
Another user replied, “I will also say that conversely some of the arbitrary deadlines in school don’t apply to the real world. In college, it was kind of teachers being overly lax or strict. In the real world, if something cannot get done, regardless of the time or resources you throw at it, then it won’t get done. Yeah, you may have upset a client, but most of the time, as long as you communicate these issues as soon as possible, clients understand. Of course, it doesn’t always play out that way, but the real world seems to recognize real issues better than school sometimes can.”
3. On Time Is Better Than Perfect
“It’s better to finish something on time, even if it isn’t perfect, than not to finish it at all,” one user posted.
Another replied, “This is so true. I find this with young grads coming through at work. Smart young people and many/most become good at their jobs… But there seems to be a need for perfection and an expectation they will get the time to achieve it.
“Maybe every generation is like that when young, but I notice it a lot these days. Maybe I’m just getting old. To the list, I would add… you will need to deal with uncertainty. Not everything will be clear and have an excellent tidy answer.”
4. Don’t Always Trust Social Media
One user shared, “Social media is harmful.”
Another user replied, “Yes, I’ve heard from friends about their teenage siblings falling for TikTok fake news almost as often as I hear baby boomers fall for Facebook fake news lol.”
5. 30 Is Not Old
One Redditor stated, “30 is not old.”
Another user replied, “This. Too many people in their 30s and 40s act like they’re already practically in their graves.”
6. Expect Your First Job to Be Hard
One user shared, “That your first job out of college is probably not going to be the cushy WFH jobs you see people have on TikTok. You’re probably going to have to grind for a bit.”
Another commenter added, “Also, you’re probably not going to make 500k doing computer science right after graduating.”
7. Get Advice From Experts
“Your friends are idiots. They have just as much education as you. Take expert advice on what you want to know,” one user posted.
Another user replied, “I’m an older teen who legit doesn’t understand how you could think otherwise from this. I’ve seen teens say that older folks wouldn’t know what we’re dealing with, but that’s the opposite of the truth. They’ve already lived it and more. They would be the perfect ones to know what’s going on and give us advice. Just because we might not like what they say doesn’t mean they’re wrong. That seems like the most logical conclusion to me.”
8. Influencers Aren’t All That Unique
One user shared, “When everyone thinks they’re an influencer, no one is an influencer.”
Another user commented, “I’m not in, nor do I pay attention to the numbers in social media posts. How many followers do you need actually to be an actual influencer? You can’t deny that people like Mr. Beast is an influencer out of the sheer amount of views he gets.”
9. You May Need to Compromise on Your Job
“Very few people get to ‘do what they love for a living.’ Most adults have to compromise between what they want from life and what they want to give up to get it,” one Redditor posted.
10. Adult Life Is Challenging
One commenter shared, “Unless your parents have money and are willing to support you, life is about to get a whole lot more difficult.”
Another user added, “The problem is not that you ‘can’t’ walk in and get a job. You can, but you should be aware of the fact that you can lose that job as fast as you call it since they do get tons of applications.
“I used to work at some restaurant that just handed out job applications to every teenager who came there. One of the servers was over 18, and she had been working there for a few years. And when she complained about something to the managers, they just told her that she could either stay and not complain or she could just leave.
“They had a lot of people who could replace her, but those managers should understand that this ton of people who could replace that loyal and great server will leave soon enough and won’t be as good as her. I’m pretty sure that everyone who started working there simultaneously didn’t last even a year. Most stayed for a few months, probably not even half a year.”
11. No One Cares About High School
“No one cares what you did in high school,” one user shared.
Another user commented, “Jokes on you, after two concussions in my early 20s, I can’t even remember what I did in high school!”
Another user replied, “PREACH!”
12. Take Responsibility for Your Mental Health
One Redditor posted, “That trauma, mental illness, gender identity, sexuality are not justifications for being a bad person. Your mental health may not be your fault, but it is your responsibility.”
Another user added, “Paying rent and buying groceries quickly humbles you. You’re not paying your bills because of your mental health? The landlord will not care.”
13. You Don’t Need Constant Relationships
“Teen love is a glorified myth from shows and movies. You don’t need to seek relationships constantly. Just live your life,” one user shared.
Another user replied, “Most of my friends laugh in my face when I say that I’m not interested in it yet and say I’m lying, but I just wanna enjoy what’s left of my youth for as long as possible lol.”
14. Be Respectful of Others
One user posted, “You need to remember that you can’t speak to people IRL the same way you do from your keyboard. You’ll get popped in the mouth.”
Another user commented, “I work with a teenager, and he was going for his license, and the person riding with him told him to go down a certain way. It turns out it was a wrong-way street or something, and he went down it, so he failed. The 16-year-old looked at him and said you’re an a-.
“I was like, you really didn’t say that, did you?! He said well yeah, I did because he was an a-. Kids are gonna have a hard time in the real world. It doesn’t help that he half-a- his job and expects to get paid more.”
15. People Don’t Care That Much
“People don’t care about you nearly as much as you think. Be a good person, but do what makes you happy without stress because people don’t have you In their minds as soon as you turn the corner!” one user shared.
16. You Need to Adapt
One Redditor posted, “You need to adapt to the world. Not expect that the world will adapt to you.”
Another user commented, “So much this. The world is not going to change for you. The world is not here to affirm you. You must affirm yourself and adjust your behaviours/develop coping skills to adapt to the world.”
17. School Is Not Useless
One user shared, “Schools are not as useless as they think; they do have problems, but it’s been proven over time and time that education is one of the few ways to get out of poverty.”
Another user added, “The complaint that courses that you learn in school don’t ever apply. Like most math courses. They are there to teach you how to think; if you find a job that directly has you doing Matrices with linear algebra, good on you. Otherwise, you know how to approach things from different angles.”
18. Let Emotions Just Be Emotions
“An emotion can be purely just an emotion, not a trigger, not depression and anxiety and not a reason to have a mental health crisis; sometimes it’s okay just to be sad!” one Redditor posted.
19. Don’t Pay Too Much for College
One user shared his thoughts and posted, “You don’t need an EXPENSIVE college degree. A private school that makes you take out huge loans to afford it is really not necessary at all. It is unlikely to yield better results. Also, living on campus is massively overrated, and if you can continue to live for free at home, it’s usually a great idea.
“State schools are generally far cheaper and usually of very decent quality. Also, look into EVERY potential scholarship (both merit-based and need-based) you might qualify for. Please fill out the FAFSA every single year and do it early.
“If state college isn’t looking super affordable, maybe there are no scholarships you qualify for that would help out. There’s absolutely nothing wrong with going the community college route. Relative to 4-year schools, community colleges can be dirt cheap and often provide way more flexibility if you want to do school and work part-time.
“Then, after two years, if you want to continue your education and finish up at a 4-year school, you generally can. In most cases, the credits should transfer (especially if the community college and state college are part of the same system), and you get yourself a bachelor’s degree and only pay the sticker price for two years instead of 4.
“If you live in a state that hasn’t taken this seriously and hasn’t invested in affordable higher education options, consider moving to a state that has. Establishing residency to get in-state tuition rates may take a year or more, but this can be worth it in many circumstances.
“Where you got your degree matters less and less these days. The stigma of online degrees is even lessening to a large extent, especially since COVID.
“It’s straightforward to get caught in financial traps when it comes to school, but it’s possible to avoid them. You have to plan things out and stick to what’s realistic so that you know you can see through to the end. Don’t compare yourself to others. You’re running your race. You’re on your path.
“The trades can be great for many. But if you’re not the manual labor type, you may be much better off finding a cheap higher education solution rather than trying to fit a square peg into a round hole.”
20. You’re Not the Main Character
One commenter shared, “You’re not always the main character.”
Another user replied, “You can go a little more in-depth with this, I think. You’re the main character of your own story. You just need to accept the fact that you’ll be an NPC to the vast majority of people you encounter.”
Another user commented, “Enjoy being the quirky NPC in everyone else’s story.”
Do you agree with the challenging truths that were listed above? Share your thoughts!
Source: Reddit.
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Inside: Do you want to make money online fast? If so, we’ll discuss the best digital products to sell on Etsy. By following these steps, you’ll be on your way to making money selling digital items quite easily.
Do you want to learn how to sell digital products on Etsy and make money through it?
Selling digital products offers an exciting avenue for generating passive income. With their low production and distribution costs, high profit margin, and potential for scalability, they stand as a lucrative business model for many entrepreneurs.
Moreover, once a digital product is created, it can continuously bring in revenue without the need for additional production costs, making it an appealing source of passive income.
The key to being a successful Etsy seller is to understand your chosen niche and what your audience wants.
We will dive into digital products you could sell on Etsy which range from arts & crafts to business materials.
This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.
What are Digital Products?
Digital products are items that are accessed and delivered electronically, examples of which include software, ebooks, online courses, digital music, video, and audio files.
These intuitive products offer the versatile benefit of being easily reproduced and instantly accessible on various devices, without the requirement of physical storage or shipping. Plus the world is moving towards becoming digital anyway.
In creating digital products, businesses aim to capitalize on customer appeal and convenient delivery, which often complement their physical goods or services.
Why Sell Digital Products on Etsy?
Selling digital products on Etsy offers an incredible opportunity to showcase and monetize your unique creations. With Etsy’s vast online marketplace and its millions of potential customers, it has become a preferred platform for artists, designers, and content creators.
Furthermore, it provides the flexibility to set your prices in accordance with the value you offer and experiment with different pricing strategies.
This is a hassle-free way to monetize your creativity. Here’s why:
You craft it once, it sells eternally: Digital products offer the ultimate advantage of a “create once, sell forever” model. Imagine sipping a cup of tea while your creation secures sales one after another.
Resource-friendly: Bid adieu to the restrictions of shipping, storage, or material costs. Instead, welcome the comfort of financial freedom and resource efficiency.
Everlasting stock: Digital products on Etsy never run out! Say goodbye to inventory issues and overselling, which makes it a smart choice for long-term business.
So, start now by creating an account, picking your digital product, setting up shop, and starting selling on Etsy. With no heavy fees and no botheration of shipping.
Just pure creative power leads to sheer earning happiness.
What digital products sell the most on Etsy?
Well, our data shows that digital prints, planners, stickers, fonts, and children’s educational materials are some of the best-selling categories netting serious cash on this creative marketplace. This information came from Cody and Julie – the founders of the e-Printables course.
Typically, seasonal content always does well on any platform. Same with current trends like the “Barbie” craze.
These products are a creative enthusiast’s goldmine owing to their limitless customization capabilities, instant delivery, and cost-effectiveness.
Wherein, most busy professionals, students, parents, and small business owners find them irresistible due to their convenience and adaptability to suit specific needs and tastes.
To learn more about selling on Etsy, I highly recommend connecting with Cody and Julie in their free webinar.
What digital download sells best on Etsy?
Among the myriad of digital products available,digital prints notably rank as one of the best-selling downloads on Etsy, closely followed by other popular items such as:
digital planners
logo designs
travel guides
business card designs
Lightroom presets
printable invitations.
A beautiful synergy of convenience, utility, and aesthetics, that can be printed at home or in a local print shop, whenever you wish. Perfect for last-minute gifters, DIY décor enthusiasts, or anyone looking for hassle-free beautification!
So, staying in the game, consistently monitoring market trends, and adapting accordingly is the key to successfully selling your digital prints on Etsy.
Best Digital Products to Sell on Etsy
The best digital products to sell on Etsy depend upon various factors, such as your skills, customer interests, and specific market trends.
It is also important to keep an eye on high-sales products, check positive reviews, track favorites, and note recurring themes to understand what customers are looking for and to guide your digital product offerings. This is a quick way to make 300 dollars fast.
Here are the examples of some of the best digital products you might want to sell on Etsy:
1. Printable or Digital Planners
You’ve hit the jackpot if you’re contemplating selling printable or digital planners on Etsy. Some people might say digital or printable planners are seasonal but due to the high demand and flexibility, it could be the golden goose for your marketing on Etsy.
Buyers love and enjoy the tailored usability offered by printable planners, which they can customize to their requirements and physically pen in their plans.
You can supply this demand by offering a large variety and aesthetically pleasing designs.
Tip: Try bundling in different types of stickers for a snappier offer.
2. Craft Patterns
Craft patterns are a top-ranking digital product on Etsy, thanks to a revival of all things crafty!
From knitting and crocheting to sewing and embroidery, these digital masterpieces cater to the abundant trend-setters and hobbyists who frequent Etsy.
To truly get your digital craft patterns thriving on Etsy, remember to follow the trail blazed by successful pattern sellers like these Etsy sellers. These crafts start from an average selling price of $10, making them a lucrative venture for creatives.
Lastly, don’t forget to unleash SEO magic – get your product seen by the right people especially when creating a sewing pattern or crochet pattern. This can be your missing element for transforming hard work into hard sales!
3. Children learning materials
Looking for a profitable side gig? Selling children’s learning materials on Etsy is wildly popular and well-needed especially for those homeschooling.
Parents and teachers are snapping up digital educational resources. By marketing printable lesson plans, colorful flashcards, and engaging worksheets, parent is hyped to supplement their children’s education.
This is a great summer job for teachers because your educational resources might just be the next best-seller on Etsy.
Crack open those lesson plans, as your Etsy store awaits.
4. Wallpapers
On Etsy, phone wallpapers are the new moneymaker. Provide colorful ways for customers to personalize their devices, these digital beauties are a hot ticket item.
To catch the widest net, cater to both phone and desktop users. You must keep up with trends. Also, creating wallpapers for Apple watches and other high-tech gadgets or themed designs for holidays is always a hit.
It’s a simple concept: stylish wallpapers have an average selling price of around $3-4.
5. Calendars
Venture to sell digital business calendars guarantees a steady demand, as planning isn’t just a phase – it’s woven into the fabric of daily life. To get started, unlock your artistic prowess with any digital art program like Adobe Photoshop or Canva.
Begin creating your unique touch on calendars, ensuring they’re editable pre-print- a clear selling point. Remember, quality trumps all – prioritize visually appealing designs with user-friendly formats.
Time to turn dates into dollars. Listing calendars in your Etsy shop certainly won’t go out of style or demand. Also, aim for the $5 – $10 price range to hit the sweet spot of affordability and profitability.
6. Invitations
Invitations are among the top-selling digital items on Etsy.
Customizable templates for various occasions like weddings, parties, baby showers, and more are particularly popular. It’s perfect for creative individuals skilled in design who are looking to turn a profit on their talents.
These digital products can provide a meaningful revenue stream. Some creators can charge up to $20 per customized item.
The bottom line is that selling digital invitation templates on Etsy doesn’t just allow for creativity, but it’s also a lucrative business opportunity.
7. Business cards
Catering to the surge of remote entrepreneurs and the timeless need for personal cards, this trend is something to tap into.
You can offer editable, customized, or even smart cards – with features like one-click phone calls or emails – which can give your shop an edge.
Through Canva or Wepik, you can design exotic templates, offering customers the control to personalize before printing. Turn on your creative juices, let your brand shine, and step up your entrepreneurial ladder with a business card template.
8. Wedding Invitations and Printables
To be honest, I actually created my best friend’s wedding invitations. Maybe, I should have stuck with the side gig to make 500 dollars fast?!?
Wedding printables are now the ‘go-to’ digital products. This isn’t just about a cute ‘Save the Date’; offers a hassle-free, all-in-one wedding stationery solution, ready to match every wedding theme under the twinkling lights.
Help the DIY couples by providing a bundle: wedding program, customized hashtag sign, table place cards, save-the-date cards, and even personalized portrait options with a delightful sign thrown in.
You can provide a seamless experience and watch the sales ring along with the wedding bells.
9. Journal Inserts
Are you a fan of journaling or love designing layouts? Well, it’s time you converted your passion into profit. Making journal inserts is one of the smartest digital products you can sell on Etsy.
Audiences vary from educators needing organized lesson and homework schedules or those seeking self-help and discovery questions.
For optimal selling, focus on providing a variety of designs and including white spaces for personal touches.
With an average selling price of $5, they appeal to smart shoppers who prefer to print inserts on cardstock paper.
10. Digital artwork
Digital artwork stands out in popularity due to the unique customization and selection variety it offers.
Customers are drawn to the ability to choose from diverse art forms, including watercolor illustrations, inspirational quotes, and Baltic or Bohemian prints, that perfectly align with their personal aesthetic or represent an emotion they resonate with.
Moreover, the availability of immediate prints post-purchase greatly increases the convenience and appeal of this artwork form.
11. Recipe cards
Do you love cooking and want to create delightful digital recipe cards for your customers? But, don’t stop there, look at creating a meal planner to bundle with!
A printable, editable canvas for food aficionados brimming with delicious details of recipe cards is a great product. These digital delights are perfect for amateur chefs, bakers, and recipe bloggers.
The takeaway is clear. Selling recipe cards on Etsy is as facile as slicing butter, once you’ve got the right ingredients and the perfect recipe. It’s time to turn the heat up on your Etsy store and dish out some delightful recipe cards.
12. Social media templates
Creating social media templates can provide significant value for businesses and influencers seeking to establish a professional and cohesive online presence.
These templates, which can include pre-designed Facebook banners, Instagram stories, Twitter headers, and more, can be customized to fit a variety of themes such as minimalism, boho, or pastel colors.
When well-crafted, such templates can save businesses valuable time and effort while also helping maintain consistent brand imaging across different platforms. This is similar to a business hiring a virtual assistant with no experience.
e-Printables Free ebook
Curious about selling printables on Etsy but don’t know where to start?
Get the secret list of best-selling products by month and learn you how to capitalize on seasonal trends to make sales.
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13. Printable Cake and Party Decorations
Selling printable party decorations as digital products on Etsy is like icing on the proverbial cake for smart entrepreneurs.
You can focus printable party decorations from charming cartoon-themed toppers for kids’ birthday cakes to exquisite, romantic pieces for weddings and anniversaries.
Whether you’re creatively inclined or have an entrepreneurial spirit spotting potential, these printables offer a loophole to financial growth. Bundle your decorations based on themes for enticing offers.
14. Zoom background
Thanks to the surge in remote working and virtual meetings selling incredible Zoom backgrounds on Etsy has emerged as a lucrative product in the digital landscape.
These tailored digital backdrops not only enhance the visual appeal of online interfaces but also cater to users’ needs to maintain privacy or conceal unorganized spaces.
However, you need to understand that creating Zoom backgrounds may not be beginner-friendly due to the required customization. However, do not let this intimidate you.
15. Productivity Trackers
People are constantly in search of practical, user-friendly tools to streamline their lives and make every hour count.
So, these productivity trackers are supremely versatile, covering daily routines, budgeting, goal setting, project management, and even grocery lists. Make your Etsy shop the one-stop shop for everyone’s needs.
As it becomes an increasingly popular choice to shift focus towards maximizing effectiveness in people’s daily lives. Whether it’s maintaining a workout routine, tracking investments, or staying on top of a student’s study schedule, these trackers cater to a wide assortment of needs.
16. Lightroom Presets
Lightroom Presets are essentially preset configurations that enhance a photo’s aesthetics, and folks from influencers to amateur photographers are keen to have them.
For starters, it caters well to the Instagram-obsessed demographic continually seeking to elevate their photo game. This venture is best suited for those who have a knack for photo editing and an understanding of aesthetics.
With an average selling price of $10, the numbers tip favorably in your Lightroom presets.
17. Etsy shop banners
Help out your new Etsy sellers by designing an impressive storefront with their shop banner.
Indulge your Etsy shop banners in various design themes suitable for a wide range of stores. Also, include a shop kit that makes store icons, a large and small banner, custom and reserved listing templates, and a profile picture graphic.
Promote your banner designing prowess to other sellers, so that you increase your brand awareness along Etsy.
When you have an awesome shop yourself, you are more likely to get sales!
18. Logos & branding kits
Move over, clip art! Logos and branding kits are in high demand as they fulfill the crucial need of every business that is striving for a unique identity.
Bundle your logos and branding kits or offer them individually to maximize your reach. Also, combining them with other digital products like media kit templates elevates your shop’s appeal.
This caters to diverse clients from Etsy sellers to businesses, influencers, and bloggers. Selling in this segment, you’ll never run short of market demand. Get ready to impress with your graphic skills, and ride the wave of this profitable venture on Etsy.
19. Thank you cards
This is a timeless product that is regularly used by businesses and individuals to express their gratitude.
Offering these thank you cards in digital, customizable formats can attract more buyers due to ease of customization and competitive pricing relative to store-bought alternatives.
You can also sell the same design on physical cards if you want for another revenue stream.
20. Fonts
In the world of businesses, creators, and crafters galore are on a relentless hunt for the perfect font that suits their needs. Where versatility is a font’s middle name – they can jazz up a brand’s website or add pizzazz to a party invitation.
Cricut fonts, in particular, are best-sellers. It is specially crafted for Cricut machines – a hit in the Etsy community of designers and makers.
Remember, the devil is in the (font) detail. Jump into the journey of digital font selling on Etsy and watch your typography turn into a treasure in no time.
21. Resume templates
Resume templates are handy, well-designed digital products are reportedly perfect for professionals keen on making their job applications stand out. It is mostly designed to suit particular sectors such as real estate or marketing.
After all, a well-structured resume could be the golden ticket to someone’s dream job – like one of these low stress jobs that pay well without a degree.
However, in my personal experience, the most successful templates are clean, professional, and neutral in color.
22. Invoice templates
You might think that cashing in invoice templates may seem odd, but these digital products offer ample sales potential on Etsy!
Their charm lies in their simplicity and frequently used nature by a wide range of businesses. Small business owners, short on time and design skills, frequently scout Etsy for professionally designed, eye-catching invoices – duly making it your prime market.
Transform invoice templates into a goldmine, with less likelihood of running into steep competition. With an average selling price of $10, you can surely earn money online quickly.
23. Website templates & themes
Are your web design skills a cut above the rest?
Leveraging your skills to create and sell website templates and themes on Etsy, and turn your talent into a tidy profit. This digital product must be customization-friendly with a range of applications, and cater to a broad audience—from small businesses to in-demand bloggers, giving them a sleek, professional online presence minus the design headache.
Begin by focusing on creating templates on popular website-building platforms like WordPress with a Kadence WP Theme. Make sure they serve a specific market, like photography websites or eCommerce stores, and ensure your products have unique, eye-catching designs that set them apart from the sea of competitors.
Remember, if your themes and templates are more unique and tailored. You can command, sometimes get a range of your product to $50.
24. Stickers
Stickers, both physical and digital stickers, are hot commodities on Etsy, cozily nestled among the platform’s top-selling items.
It also appeals to a large market spectrum, from social media users who love accentuating their chats with digital stickers, to fans of physical stickers decorating their belongings.
Remember, one major selling point is the editability of digital stickers, enabling customers to customize after purchase. Dial your creativity, pick a distinct theme, and roll out your sticker sets on Etsy – there’s a world waiting to stick onto your designs!
25. Bookmarks
Feeling bookish? Get your create-on and cash in on the thriving trend of selling digital bookmarks on Etsy.
Digital bookmarks, at a modest cost of $2 – $3 a pop, are gaining popularity as one of the easiest and fastest-selling digital products, thanks to their charm, practicality, and customized appeal.
Create an aesthetic touch on your reading escapades by hitting the serious tribe of bookworms. To amp up your sales and earn money quickly, don’t forget to add “personalization” options to your bookmarks.
26. Editable flyers
As demands surge, these feature-rich editable flyers become ideal for crafty entrepreneurs aiming to make a profit.
Most of your clients will be large markets comprising event organizers, business owners, and individuals who find convenience in ready-made editable materials.
Success in selling editable flyers on Etsy lies in understanding your target clientele’s needs, creating versatile and appealing designs, and offering top-notch quality. Kickstart your venture by preparing a wide range of attractive editable flyers.
27. Menu templates
Fresh out of the oven, menu templates are popular with restaurant owners to party planners who crave these editable, print-ready goodies.
These menu templates are flexible and can be tailored for cafes, restaurants, weddings, and even small business events. Therefore, begin by creating captivating designs–uniqueness sells and is editable for everyone who wants to customize it.
So preheat your digital oven – it’s time to serve up some mouth-watering menu templates on Etsy.
28. Gift tags
Digital gift tags on Etsy could light up your entrepreneurial path. With an average selling price of $5, these little printables have a big demand, particularly for special occasions like weddings and birthdays.
Ideal for individuals and businesses, this product can fit a myriad of needs from Christmas presents to children’s party favors. If you want to maximize your profits, focus on offering a wide range of designs that target different occasions and tastes.
Don’t forget to consider making a customization service that gives your customers a chance to tweak and add their personal touches.
29. Ebook Templates
Ebook templates have emerged as one of the most popular digital products on Etsy.
Beyond individual ebooks, sellers also offer a variety of creatively designed ebook templates, ebook covers, and materials for children’s books. With a target audience interested in arts and crafts, informative ebooks offer exceptional sales potential, especially those that provide professional knowledge in specific niches like graphic design or online money-making tips.
e-Printables Free ebook
Curious about selling printables on Etsy but don’t know where to start?
Get the secret list of best-selling products by month and learn you how to capitalize on seasonal trends to make sales.
Download Now
30. Fitness Trackers
Fitness trackers‘ popularity is booming as they cater to a wide array of tracking necessities beyond just gym visits or step counting.
This product helps monitor weight loss programs, home workout plans, and 30-day challenges, effectively, becoming a one-stop-shop for holistic wellness.
They are ideal for those aiming to enhance their fitness, sleep quality, and overall productivity. With an average selling price of $5, they offer an affordable solution to digital tracking needs.
31. Debt Payoff Trackers
Debt payoff trackers are fundamental tools for efficient financial management and debt reduction. They provide a concrete visual of one’s financial obligations and illustrate the progress made toward extinguishing each debt.
This encourages a consistent habit of payment and propels individuals towards financial freedom. However, cost should not be a barrier to good financial habits, which is why our website offers a wide range of high-quality debt payoff trackers completely free of charge.
While these are still popular on Etsy, you have to realize many people want free or extremely cheap.
32. SVG Files for Cutting Machines
Scalable Vector Graphic (SVG) files for cutting machines like Circut or Silhouette, are a crafter’s dream, making them a top-tier product to sell.
You can elevate your service by including a PDF tutorial or short video guide demonstrating the use of your product.
Ensure the functionality of your products by carrying out tests prior to listing.
33. Personalized Recipe Books
Being a foodie’s ultimate treasure, these recipe collections are perfect to tickle the taste buds of amateur cooks or pro food bloggers. Plus you can create recipe book templates to be used in Goodnotes or Notability.
Cultivate your online presence to spice up the sales of your digital recipe books.
From personal experience, I bought a digital recipe book because I didn’t want to create one myself.
34. Budget Planners
Budget planners are soaring in popularity, with these nifty tools averaging quite a tidy sum of $5-20 each. Its powerful design is both lucrative for sellers and beneficial for buyers.
In an increasingly digital world, these planners provide a seamless way to stay and stick on top of your finances. From the ordinary individual aspiring to save a penny or two to the business owner meticulously monitoring their profits and expenses. Some budget planner pros, like FRGLMAMA, have made over 60,000 sales!
Here’s a pro tip: Increase your profits by bundling your budget binder with envelopes and to-do lists. Users love the convenience and it saves them a search.
35. Wall Art
Calling all artists and designers with flair! Wall Art reigns supreme on Etsy – proving it’s not just a ‘dabbling’ industry, but a potential goldmine.
Remember, the ‘Home Sweet Home’ and ‘Be Kind’ style arts still hold their charm! Maximizing profits can entail providing add-on services such as printing and shipping.
Wall art downloads make great posters, especially for those who prefer to change up their decor often.
36. Gratitude Journal
Gratitude journals, with their guided prompts and questions, make hot picks for those striving for self-improvement or simply savoring the good in life. This little gem, flourishing in popularity, provides a thoughtful juncture for folks to reflect on the positive aspects of their lives.
This digital product is tailored for therapists, life coaches, stressed corporate followers, or anyone looking to light up their lives with gratitude.
Make sure to use keywords related to gratitude and journaling in your product description to maximize visibility.
37. Self Improvement Printables
People love these printables for their blend of practicality and inspiration by giving actionable tips, uplifting affirmations, useful trackers, and more.
These self-improvement printables are timely digital products that strike a chord with a growing audience keen on personal growth, self-care, and organization.
This product is perfect for those seeking self-help workbooks, motivational quotes, fitness planners, and even kid-friendly educational materials.
Is selling digital products on Etsy still profitable?
According to legions of online entrepreneurs, the answer is a resounding YES!
As the market for digital products keeps on growing, so does the profit potential for digital sellers on Etsy.
The startup costs are delightfully low – most of what you’re paying is merely for your product’s licensing and Etsy fees. After that, it’s all pure profit!
This method could be your ticket to financial freedom. So if you’re a creative at heart with a knack for producing digital gems, it’s high time you join the Etsy bandwagon to sell your valuable creations.
Etsy passive income isn’t just a haven for handcrafted goods – it’s also a hub for downloadable products from design templates to educational materials.
e-Printables Free ebook
Curious about selling printables on Etsy but don’t know where to start?
Get the secret list of best-selling products by month and learn you how to capitalize on seasonal trends to make sales.
Download Now
Now, What Digital Downloads to Sell on Etsy?
By now, you’ve embarked on an enlightening journey around the process of selecting digital products to sell. You have digested tips, explored examples, and refined your knowledge regarding your market, skills, and customer desires to ensure profitability.
So, let’s cut to the chase, find your product that fits the mold, craft an appealing product description, price it competitively yet profitable, and start making waves with your expertise in the digital market.
By coupling this post with the free training offered, you could be the next seller with digital products that are the next hotcake on Etsy! Will you be the next Etsy seller to learn how to make 10k a month?
Take your first step towards this entrepreneurial journey, and soon enough you could be reaping the sweet profits of your digital endeavor.
Now, start your listings and remember to believe what you have to offer is worth buying.
E-Printables Course
Are you ready to start selling on Etsy? Great!
Now, learn from the experts, so you are successful from the start. Learn everything else that goes into actually making money with this side hustle.
Spend time making products that have the best chance of selling.
Making printables is FUN, but it’s even more fun when it’s PROFITABLE!
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Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations.
Can you pay a loan with a credit card? Yes, paying a loan with a credit card is sometimes possible. Yet, whether or not you can do so depends on factors such as the lender’s policies or the type of loan you want to pay off.
Good credit can open doors, but bad credit can keep them shut. In fact, research shows one in 10 Americans were denied work because of poor credit history! Good credit is important because it tells lenders you’re not a risk and that you pay loans on time. A good score can help you get approved for mortgages, financing, loans, and credit cards. Bad credit leads to more fees, higher interest rates, and rejected applications.
Aside from securing loans, your credit can impact your ability to secure housing and even employment. Understanding your credit score can help you make more informed decisions. We’ll explore how credit works, why it’s important, and how to maintain a good credit score.
What Is Credit?
We often hear people saythat it’s important to build credit. But what is credit? When you pay for something “on credit,”you’re actually borrowing money to make the purchase, which you pay back later. But when people say “your credit,” they’re usually talking about a credit score.
Your credit score is a three-digit number calculated by FICO®, VantageScore, or other scoring models. Your score indicates how well you manage credit. Institutions and agencies use this score to determine risk, such as how likely you are to repay loans on time. A credit score of 670 or higher is considered good by most standards.
Why Is Credit Important?
Good credit is important because it helps you secure loans, mortgages, rentals, and other important financial goals. Financial institutions perform a credit check before approving applications, and use your credit history to determine available options, associated fees, and interest rates.
Credit can impact our daily lives in many ways. Potential lenders, landlords, and employers might reject your application if you have bad credit. But good credit can help you get approved for loans and save money.
There are many benefits to a good credit score. You’ll need a strong credit score for things like:
Loan applications: Lenders assess your credit to determine how likely you are to repay a loan. People with poor credit may face higher interest rates, smaller loans, or rejection.
Credit card applications: Banks and credit card companies need to look at your credit report before you can get a credit card. With good credit, you can get lower interest rates and higher limits.
Mortgage applications: Your credit score will determine monthly payments and interest rates. Good credit is essential if you can’t afford a large down payment.
Rental applications: Landlords can run a credit check or ask you to provide one. Credit score won’t impact the rental costs, but a landlord can reject an application due to poor credit.
Job applications: Prospective employers can ask for credit checks, especially if you are dealing with sensitive information. You may need a credit check for jobs in accounting, sales, the military, and other industries.
Insurance applications: Depending on where you live, you might need a credit check for insurance. Not all states allow insurance companies to access your credit information.
Vehicle rentals: You might need a credit check for vehicle rentals if you don’t pay with a credit card. And depending on your state and the company, your credit may impact your rental options.
Credit card benefits: Good credit can help you secure credit cards with benefits, including airline miles, travel credits, cashback rewards, and other perks.
Lower interest rates: Poor credit leads to higher interest rates, making borrowing money expensive. The better your credit, the more money you will save.
Better loan terms: Good credit gives you more options and freedom for repayment. Bad credit can limit your options to short-term loans with higher monthly payments.
Credit is always important, no matter how high or low your score. At the end of the day, everybody needs good credit to achieve their financial goals. That’s why it’s important to understand what can impact your credit score.
What Can Impact a Credit Score?
It might be surprising, but personal savings and stocks don’t impact your credit score. Credit score calculations look at your detailed credit history, and anything that impacts these calculations will impact your score.
The five main factors that impact your credit score are:
Payment history: when you make payments
Credit utilization: the amount of credit you use compared to your limit
Credit age: how long you’ve had credit and how old your accounts are
Credit mix: the types of credit you hold
Credit inquiries: how often your credit is reviewed
While this might look simple, many surprising scenarios can affect your credit. Unpaid parking tickets in collections can impact your payment history, for example. And closing a credit card can lower your credit utilization. You can review your free annual credit reports to watch for drops in your credit and work toward preventing a bad score.
What Happens with a Bad Credit Score?
Keep in mind that you can improve a bad credit score over time. But until you do, there can be negative consequences. Most credit scores range from 300-850, depending on the scoring model. A bad credit score generally ranges from 300-600.
Bad credit scores can lead to:
Rejected applications
Higher fees and interest rates
Lost work opportunities
Difficulty renting a vehicle
Required deposits for utilities
Difficulty securing a student loan
Expensive insurance rates
Difficulty opening bank accounts
Bad credit doesn’t shut every door, but it can make life more difficult and expensive. It’s important to check your credit score before buying a home, applying for student loans, and other important life events. This will give you time to understand your situation and make a plan to build and improve your credit.
How Do You Build and Improve Credit?
Now that you understand what credit is and why it’s important, you can plan for success. There are many ways to build and improve your credit without overextending yourself. No matter your score today, you can work toward a bright future with good credit.
Understand how credit works: Learn how your credit score works and what can impact it.
Set goals for yourself: Use this knowledge to set goals for minimizing debts, increasing utilization, and more.
Address your debts: Assess your debts and plan to pay them off.
Monitor your credit score: Look for suspicious activity on your credit report and be aware of the potential impact on your score.
Clean your credit report: Dispute errors on your credit report.
Get a secured credit card: Use it regularly and pay your bills on time.
Become an authorized credit card user: Build credit in association with somebody you trust.
Apply for a credit builder loan: Improve your score if you have poor or no credit.
Create a budget: Manage your finances to ensure consistent repayments.
Achieving a good credit score isn’t the end of your credit journey—once you have a good credit score, you will need to maintain it. Stay diligent and follow best practices to keep a good credit score.
How Do You Keep a Good Credit Score?
Don’t take good credit for granted. To keep a good credit score, you need to stay organized and sensible about your credit usage. This means understanding your responsibilities and following best practices for credit management.
Follow these tips for keeping a good credit score:
Stick to your budget: Committing to a budget can help you make payments on time, which is key to achieving a good credit score.
Avoid carrying debt: Credit utilization is the second most important factor that makes up your credit score. Unpaid debts accumulate interest, which means less money for you.
Pay bills and parking tickets on time: It’s important to pay all utility bills, phone bills, and parking tickets on time. Not paying bills can lead to collections and this impacts your credit score.
Don’t let debts go to collections: You should avoid collections at all costs. When unpaid debts go to collections, it can cause significant damage to your credit score.
Monitor your credit score and reports: When it comes to your credit, ignorance is not bliss. It’s important to watch your credit report for changes, errors, and suspicious activity.
Protect yourself from identity theft: A large drop in your credit score can be a sign of identity theft. Stay aware, protect your information, and consider a credit card with security features.
Use your credit card consistently: Using your credit card will help you build credit—just don’t spend more than you’re able to pay back each month.
Don’t close old credit cards: Closing a credit card lowers your credit mix, so it’s a good idea to leave old credit cards open, even if you don’t use them. Keep an eye on them for suspicious activity.
Only authorize people you trust: Authorized users on your accounts can impact your credit score. Only authorize accountable and trustworthy people.
Avoid retail credit cards: While retail credit cards can be easy to get, they can come with expensive rates and fees. And not all retail credit cards report payments, making them less ideal for building credit.
Don’t treat credit like extra cash: Building credit takes organization and discipline. You should always stick to a budget and avoid spending beyond your means.
Your credit score is like a financial reflection of you, so take pride in your credit and make an effort to keep a good score. Knowledge is power—the more you understand credit, the more confident you’ll feel when preparing for large purchases and other financial ventures.
Whether you have good or bad credit, it’s all about setting goals and staying organized. Remember, your current score is not set in stone. You can always improve credit management and make a difference in your future.
If you’re worried about bad credit or just want to see where you stand, get your free credit score today.
To mark the 10-year anniversary of Detroit’s historic July 18, 2013, municipal bankruptcy filing, the Free Press is examining what has changed, what hasn’t, and why. Find more coverage atfreep.com.
Alease “Cookie” Moore loves her Cornerstone Village neighborhood.
It’s the simple things. Walking the streets, saying hi to neighbors sitting on their porches, planting crops at the community garden — beets, corn, sweet potatoes, herbs. She loves supporting the East Warren Farmers Market and local businesses like the Detroit Pepper Company, a Warren Avenue carryout spot that opened in 2019. She attends neighborhood meetings and advocates for her community as secretary of the Cornerstone Village Community Organization.
the city promised to crack down on blight by suing landlords.
10-year, $1.7 billion reinvestment plan.
Did it work? Are we better off?
retirees. Under state law, the city’s budget reserve is required to hold at least 5% of its projected recurring expenditures each fiscal year to cover a potential financial disaster or reduction in revenues. Detroit’s reserve was 11% of its expenditures in its latest adopted budget.
“Right after the bankruptcy, revenues certainly stabilized, and we’re starting to show some modest growth,” said Detroit Budget Director Steve Watson. “It was in the years just prior to the pandemic, income taxes really started to take off and show much more robust growth … where the bankruptcy assumed somewhere around a 2% growth rate per year in revenues, we’ve instead vastly exceeded that.”
At the end of the 2022 fiscal year, city income tax revenue was about $400 million — up from less than $250 million in 2014. The bankruptcy plan of adjustment — the court-approved document that charted a path forward as the city exited bankruptcy in 2014 — assumed that income tax revenue would be about $300 million in 10 years, Watson said. Increased revenues generated a surplus, which is now funding various initiatives, while allowing money to be set aside for rainy day and retiree protection funds. Watson said the developments have put the city in a stronger financial position in the long term.
Citizens Research Council. At the end of the 2022 fiscal year, Detroit reported more than $544 million in cash on hand, or more than 200 days’ worth of expenditures.
criminal record expungement that could boost employment opportunity in the city.
“Programs that are expunging (criminal) records on job applications, combined with skills training and increased apprenticeships, will go a long way to reduce crime by giving men in their late teens and early 20s hope and meaning,” Metzger said.
Home values
It wasn’t exaggeration or urban myth.
Buyers were picking up houses for the price of a cheap couch in areas of Detroit following the Great Recession.
Those bargain basement prices helped deflate the median owner-occupied home value to just under $43,000 in 2013. That’s according to U.S. census estimates in 2021 dollars from the annual American Community Survey.
But the rebound has been considerable, experts say, with help from an overall real estate market recovery paired with Detroit’s post-bankruptcy reinvestment in basic city services stirring more demand.
The most recent estimate shows that median owner-occupied home values rose to $69,300 in 2021, a nearly 62% increase since 2013. (The data is based on survey respondents’ estimates of how much the home is worth.)
according to the mayor’s office.
New mortgage loans in Detroit still remain low compared with other cities, according to research by Detroit Future City, with only 3,211 home purchase loans made in 2022. And Black applicants were denied home loans in the city at twice the rate as white applicants, the group found in 2020.
Williams Clark said it’s important to make sure the city continues to have a “diversity of price points,” where a wide range of people can buy into the American Dream of homeownership.
“So that people who are existing residents and other residents can benefit from that wealth creation, but there is also still opportunity for people to have access to those homeownership dreams and goals,” she said.
Poverty
Detroit has seen major gains in its households moving out of poverty.
So much that it has surpassed the improvement in most large industrial cities in the Midwest and Northeast since 2012, researchers say. One expert went as far as to call the progress “remarkable.”
“This is real success,” said Luke Shaefer, director of Poverty Solutions, an initiative at the University of Michigan that partners researchers, policymakers and community members toward alleviating poverty. “That’s transformational.”
In 2013, 40.7% of Detroiters were considered living below the poverty line, according to the U.S. Census estimates from the annual American Community Survey. But that number dropped to 30% as of 2021.
announced the city’s unemployment rate had dropped to its lowest level since the Bureau of Labor Statistics started tracking monthly jobless levels in the city in 1990.
Detroit’s unemployment rate in April was 4.2%, according to BLS figures. That rate has risen slightly since then, to 6.4% in May, but is still much lower compared with an average rate of 18.8% in 2013.
Study finds Detroit’s unemployment rate was 16% in March when including a group called “labor force rebounders:” residents who are retired, disabled, students, have family or personal obligations or otherwise choose not to work, but report actively searching for a job in the past month. This group of residents in other surveys may not be considered unemployed because they chose not to work and weren’t laid off recently.
DMACS’ surveys show that the jobless rate has improved from the beginning of the COVID-19 pandemic — when unemployment spiked to 43% — and from September 2021, when DMACS said the jobless rate in the city was 25%. The jobless rate is still higher, though, than its estimated pre-pandemic unemployment rate of 8%.
Lydia Wileden, author of the University of Michigan DMACS report, said the differences between BLS and DMACS data “suggests something about the employment situation is potentially being missed.”
High school graduation rates
While Michigan’s four-year graduation rate has hovered around 80%, Detroit’s has continually lagged behind.
Just before Detroit filed for bankruptcy in 2013, 64.6% of Detroit Public Schools seniors graduated, according to state data, compared with 77% of Michigan seniors. The school district’s four-year graduation rates for students has since ticked up to a high of 78.3% in the 2015-16 school year, and dropped again to 64.5% in 2020-21, at the height of the coronavirus pandemic, as students struggled to show up to school in-person.
signed a $617 million state bailout of the district. The deal restructured the district into two entities: One retired district to exist for debt retirement, and a new community school district with a locally elected board and revenue to operate.
District Superintendent Nikolai Vitti, who took the helm in 2017, has touted academic progress since then, including improved attendance. However, the pandemic set students back considerably, and Detroit continues to rank last among major city school districts in reading and math scores.
‘What about the neighborhoods?’
It’s difficult for many Detroiters to rejoice in the progress that has been made, with much left to be desired.
Karen Knox, an east-sider and executive director of the Eden Gardens Community Association, has noticed that police have been quicker to respond in emergencies, and there are far more working streetlights since the bankruptcy.
But she said she isn’t seeing enough businesses opening, or houses being built in lots where blighted properties were demolished. Illegal dumping, flooding and blight persist. She has seen long wait times for buses, and crime remains a top concern.
“Where did the money go?” asked Knox, 62. “Downtown is booming, but what about the neighborhoods? … No one is talking to neighborhoods and asking them what they want — look how we’re living.”
It’s a familiar sentiment. Detroiters were making the same complaints 10 years ago. But the tone is different. There doesn’t appear to be the same level of anger and desperation. And with poverty and unemployment way down, home values up and a city budget with some breathing room, the outlook appears far less bleak.
Earlier today I provided a statistical snapshot of minimum wage earners. The numbers indicate that in the United States:
Most minimum wage earners are young.
Most minimum wage earners work in food service.
Most minimum wage earners have never attended college.
Statistics are one thing, but real-life is another. There are still millions of older college-educated Americans who earn minimum wage in jobs outside the food service industry. Many of these people want to escape their situation, but don’t know how.
More than pinching pennies Over the weekend, Trent at The Simple Dollar shared ten steps to financial success for a minimum wage earner. His advice is excellent, but emphasizes frugality and cutting costs. I want to look at another approach to escaping minimum wage — earning more money.
Here’s what one minimum wage earner once wrote at Get Rich Slowly:
There are definitely [minimum wage earners] who casually spend beyond their means without regard to or serious consideration of consequences. There are also those who are living frugally yet are squeezed financially, perhaps by high rents and utilities (the homeownership rate of the working poor is close to zero), falling real wages, or health and medical expenses…I make minimum wage and have student loan debt. I can’t think of any spending I can cut out without feeling deprived.
The fundamental law of money still applies to those who make minimum wage: to gain wealth, you must spend less than you earn. But it’s more difficult for a person making minimum wage to spend less than she earns. Even after cutting luxuries — cable television, eating out, etc. — there are certain minimum costs associated with living in our culture. If you’re in a situation where you’ve reduced expenses as far as they will go, it’s time to focus on the other component of the wealth equation: increasing your income.
Breaking free from minimum wage A minimum wage job can seem like a prison — you can’t imagine you’ll ever break free. You can’t imagine you’ll ever earn more money. However, opportunities do exist. Here are several approaches to escaping the shackles of a low-wage job:
Work two jobs. If debt or living expenses are keeping you down, take a second job. This may not help you escape from minimum wage in the short-term, but it will alleviate some of the financial pressure you’re facing, which will eventually allow you to focus on long-terms solutions.
Seek a promotion. Find a way to advance in your current job. What would it take for you to move into some sort of management position? What about moving to another department where the pay is better? Be the sort of employee that managers can’t live without: show up on time, be efficient, do quality work. Watch for advancement opportunities with your current employer.
Change companies. If there’s no path to higher income at your current job, what about a similar job with another company? Not all employers have the same pay structure. Scout the competition, and see if they can offer a better opportunity.
Change professions. You may need to leave your current field altogether. If you’re working at the counter in a convenience store, you’re better off taking another line of work. What sorts of jobs are you qualified for? “None,” you might say, but many employers need unskilled laborers. An unskilled laborer who shows up for work on time, is agreeable, and makes an effort will usually be earning more than minimum wage in just a few months.
Steer clear of corporate giants. As a small business owner, I’m biased against big corporations. Publicly held companies have huge motivations to keep worker wages and benefits low. It’s true that your top-end advancement may be limited with a small business, but they’re generally more flexible than corporate giants. Many small business owners go out of their way to look out for their best employees.
Educate yourself. Finally — and most importantly — do what you can to increase your education and marketability. Make yourself appealing to employers. Develop skills that they can use.
In fact, education is so vital to escaping minimum wage that it deserves a closer look.
The importance of education Education makes a huge difference in your earning potential. The median income for a U.S. male who dropped out of high school is $18,990. The median income for a high school graduate is $28,763. The median income for a man with even some college is $35,073. Education opens doors. And it’s not just about the piece of paper — if you take practical classes, you can learn skills that will have a direct effect on how much you can earn.
I am a huge fan of community colleges. They’re an excellent place to pick up additional training. What can you learn at a community college? Here are a handful of the programs that my local community college offers:
Alcohol and drug counseling
Automotive service and repair
Business administration
Computer programming
Construction
Dental hygiene
Electrical trades
Graphic design
Landscaping
Real estate
And much, much more
Make no mistake: these classes will not get you a top-paying job in the field. They will, however, help you land entry-level positions, positions that will pay more than the minimum wage, positions that will help you find a career path with advancement opportunities. It might take you a couple years to reach this point, but you can reach it. How do I know? Because I did it myself.
In 1998, I was fed up with working for the box factory. I decided to become a computer programmer. While still working full-time, I began to take classes at the local community college. Most of the time I could only afford one class per term, but sometimes I squeezed in two. Within eighteen months I had developed the skills to be hired as an entry-level computer programmer. My pay was $25 an hour, which was at the low end of the spectrum for that kind of job (but appropriate for the skill-set I had acquired).
If you decide to use education to break free from minimum wage, be sure to choose practical classes in order to increase your earning potential. A philosophy class might sound cool, but it’s not going to get you a job. Nor will creative writing.
Don’t forget that school is an excellent place to make contacts with people who might serve as references for future job applications. Most community college instructors have connections in their fields. Make a good impression, and follow through with class requirements. Meet deadlines. Take pride in your work. People will notice.
Ask yourself the hard questions If you’re in a minimum wage job and would like to escape, it’s important to ask yourself why you’re in a minimum wage job. Are the reasons obvious? Is it because you’re young? If you’re just out of school, minimum wage is a rite of passage. It’s something most people experience. Keep moving in the right direction and you will leave it behind.
Are you in a minimum wage job because you lack education? Make education a priority. Pick a career that interests you and is in demand. Obtain the skills necessary to enter the field.
But if you don’t know why you’re in a minimum wage job, or if your answer is that your boss, co-workers, or life won’t give you a break, then you may need to look inward. I had a friend who was trapped in a low-paying job that he hated. He had a long list of external forces that kept him stuck there (and in the crummy jobs he’d had before). He couldn’t understand why he wasn’t able to break free. To everyone around him, the reasons were obvious, but he didn’t want to hear them. He’s still trapped in a low-paying job.
Final thoughts Perhaps I’m naive, but I believe most minimum wage earners can find a path out of their plight. In most instances, hard work, patience, and education can counter the forces of history and bad luck.
I’d love to hear how former minimum wage earners managed to graduate to higher incomes. (Or how they didn’t, if that’s the case.) If I collect enough stories, I’ll post them in a separate entry. If you’d like to share your story, please drop me a line, or post it in this forum thread.
Hello! Today, I have a great article from Kelley Olinger. Kelley paid off $77,000 in debt in around 22 months! Here is her story: In hindsight, my problems with money started early on, as they often do. My parents felt burdening kids with money concerns was just that, a burden. And so, I grew up free […]
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