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January 12, 2022

What Careers Make the Most Money: 75 Jobs for Fuller Pockets

Deciding what career to pursue can be difficult when you donât know where to start or donât have a passion for a particular field yet. However, planning early on and researching things such as potential salary can help you feel eager to get your future started.

Choosing to follow a career field that pays a lot can be a difficult but rewarding process. Whether youâre a recent grad or changing careers, learning more about jobs that can help you live a comfortable life is the first step. In this guide, youâll find out what careers make the most money and what you need to get started.

See Average U.S. Salaries

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The Benefits of a High-Paying Job

Choosing a career that pays well can be very beneficial for your future. If you are looking to start a family, build retirement savings, or travel around the world, finding a high-paying career can get you a step closer to your goals.

Although some people may say that money doesnât bring you happiness, knowing that you have enough money for all your necessities, such as rent, bills, and groceries, can bring you peace of mind. A recent study shows that larger incomes are associated with a greater well-being and a higher level of satisfaction with life overallââ. In addition to that, it can also make you more productive and help you succeed at work.

the benefits of a high-paying career

What Careers Make the Most Money?

If youâre ready to find a career that will bring you financial security and are willing to persevere and work hard, here are the 75 best-paying jobs in the U.S. according to the U.S. Bureau of Labor Statics National Occupational and Wage Estimates:

1. Anesthesiologist

An anesthesiologist is a doctor that administers anesthetics and analgesics before, during, or after surgery. They are critical to surgery procedures since they allow the surgeon and other physicians to complete invasive procedures with no discomfort to the patient. In addition to administering general and regional anesthesia, they also closely monitor the patientâs vitals. Due to the risk involved, anesthesiology can be a stressful but rewarding career to follow.

Average Annual Salary: $271,440
Requirements:
- Bachelorâs degree (four years)
- Medical school (four years)
- Internship (one year)
- Residency (three years)
- Obtain a state license

2. Surgeon

Working together with anesthesiologists, surgeons* operate on patients who have suffered from injuries or diseases. Surgeons are also leaders of the surgical team, so they have to make important decisions quickly, sometimes involving life or death. There are many different kinds of surgeons, and you can train to become a general surgeon or have a specialization such as neurology or cardiology. If you plan to become a surgeon, itâs necessary to understand the gravity of the job and have a passion for the STEM field.

Average Annual Salary: $251,650
Requirements:
- Bachelorâs degree (four years)
- Medical school (four years)
- Residency (three to seven years)
- Obtain a state license

See the Average Salary for Surgeons

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3. Obstetrician and Gynecologist

From providing reproductive system care to bringing a new life into the world, obstetricians and gynecologists play an important role in womenâs health. They help prevent, diagnose, and treat conditions affecting the female reproductive system. As a gynecologist, you would primarily handle womenâs reproductive health, and as an obstetrician, you would also deal with childbirth in the surgical field.

Average Annual Salary: $239,120
Requirements:
- Bachelorâs degree (four years)
- Medical school (four years)
- Residency (four years)
- Pass a written board exam
- Practice (two years)
- Pass an oral board exam

4. Orthodontist

If youâre amazed by how braces can help fix teeth irregularities, a career as an orthodontist may be for you. Orthodontists diagnose, examine, and treat imperfect positioning of teeth and oral cavity anomalies. By prescribing and installing braces, orthodontists help improve not only mouth and teeth function but also the appearance of patientsâ smiles.

Average Annual Salary: $237,990
Requirements:
- Bachelorâs degree (four years)
- Dental school (four years)
- Pass a national board exam
- Residency (two to three years)

5. Oral and Maxillofacial Surgeon

If youâve ever seen yourself as a dentist but you’re also amazed by how surgery procedures can better someone’s life, becoming an oral and maxillofacial surgeon is a great option for you. These surgeons are dentists with additional training who perform surgeries on the mouth, jaw, and face. They may also diagnose and treat problems in that area, as well as perform surgery to improve the function and appearance of the patientâs facial structure.

Average Annual Salary: $234,990
Requirements:
- Bachelorâs degree (four years)
- Dental school (three to five years)
- Residency (four to six years)
- Board Certification

6. Physician

Just like surgeons, physicians* diagnose and treat illnesses or injuries and help maintain the patientâs overall health. There are two main types of physicians: doctors of osteopathy, who specialize in preventive medicine and holistic care, and doctors of medicine, who take a more scientific approach to diagnosis and treatment. However, within these types, you could choose to have a specialty such as urology, immunology, or radiology, to name a few.

Average Annual Salary: $218,850
Requirements:
- Bachelorâs degree (four years)
- Medical school (four years)
- Internship
- Residency according to specialization (three to eight years)

See the Average Salary for Physicians

7. Psychiatrist

Mental health is as important as physical health, so if youâre fascinated about how the mind works, becoming a psychiatrist* will help you understand the relationship between the mind and body. Psychiatrists diagnose, treat, and help prevent mental disorders such as bipolar disorder, depression, and schizophrenia. They can also prescribe medications and recommend a patient be hospitalized.

Average Annual Salary: $217,100
Requirements:
- Bachelorâs degree (four years)
- Medical school (four years)
- Obtain a license
- Certification from the American Board of Psychiatry and Neurology
- Residency (four years)

See the Average Salary for Psychiatrists

8. Prosthodontists

Prosthodontists specialize in improving the function of your mouth. They diagnose and treat complex issues, as well as design and rehabilitate prostheses for patients who have trouble with their bite, missing teeth, or who want to improve their appearance. If you have a passion for physics, medicine, and have great attention to detail and some artistic skills, prosthodontics may be a great fit for you.

Average Annual Salary: $214,870
Requirements:
- Bachelorâs degree (four years)
- Dental school (four years)
- Post-doctoral residency (three years)
- Obtain a state license

9. Family Medicine Physician

If you donât want to be tied to diagnosing and treating a particular health condition, becoming a family medicine physician can be a good career option. They diagnose, treat, and provide preventive care to families of all ages. As primary care providers, they are very versatile and can treat anything from a simple cough to a broken bone.

Average Annual Salary: $214,370
Requirements:
- Bachelorâs degree (four years)
- Medical school (four years)
- Family medicine residency (four years)
- Pass board exam

See the Average Salary for Physicians

10. General Internal Medicine Physician

General internal medicine physicians diagnose and treat a variety of injuries and diseases relating to the internal organs. Commonly referred to as general internists, they primarily treat adults and adolescents and are trained to handle a broad spectrum of illnesses. If you enjoyed your anatomy science class in high school, this may be a good career path for you.

Average Annual Salary: $210,960
Requirements:
- Bachelorâs degree (four years)
- Medical school (four years)
- Internal medicine residency (three years)
- Obtain board certification

11. Chief Executive

If leadership is your forte and you thrive by helping others achieve their goals, becoming a CEO can help you put your skills into action. At the highest level of management of a company, chief executives decide and formulate company policies according to the guidelines set up by a board of directors. They are not only tied to planning, directing, and coordinating operational activities within the company, but also act as a leader to help the company meet its goals.

Average Annual Salary: $197,840
Requirements:
- Bachelorâs degree (recommended)
- Business and industry experience

12. Dentist

Similar to orthodontists, dentists* also diagnose and treat issues with the mouth, gums, and teeth. Dentists treat more than just cavities â they extract teeth, perform teeth cleaning, and fit dentures. Another benefit of being a dentist is being able to build relationships with patients and see improvement with their teeth over time.

Average Annual Salary: $194,930
Requirements:
- Bachelorâs degree (four years)
- Dental school (four years)
- Pass National Board Dental Examinations

See the Average Salary for Dentists

13. Nurse Anesthetist

Nurse anesthetists* administer anesthesia on patients as well as monitor their vital signs and their recovery. They are registered nurses who specialize in anesthesiology and assist surgeons and physicians to help them complete procedures. If you want to meet patients of all ages and from all walks of life and make them feel secure and calm before surgery, becoming a nurse anesthetist might be just right for you.

Average Annual Salary: $189,190
Requirements:
- Bachelorâs degree (four years)
- Registered nurse licensure
- Experience in critical care (one year)
- Nurse anesthesia program
- Pass the national certification exam

See the Average Salary for Nurse Anesthetists

14. Pilot

Are you an adrenaline junkie with a head for heights? If so, becoming an airline pilot can be a great way to make a living off your passion. Pilots* operate and fly airplanes that transport passengers and cargo. As a pilot, you can fly aircraft regionally, nationally, and internationally or even become a flight instructor. In addition to flying, pilots also make sure the aircraft is functioning properly, checking for malfunctions and needed maintenance, as well as ensuring the weather conditions and routes are safe.

Average Annual Salary: $186,870
Requirements:
- Bachelorâs degree (recommended)
- Military, college, or civilian flight school
- Federal Air Transport certificate
- ATP license (1,000-1,500 hours of flying)
- Pass a medical exam

See the Average Salary for Pilots

15. Pediatrician

If seeing children develop their skills and grow strong sounds fascinating to you, you can be part of their journey as a pediatrician*. Pediatricians diagnose, treat, and help prevent injuries and diseases in children from infancy to adulthood. For more specific treatment, they might also refer them to a specialist. Pediatricians tend to love being around children and can also acquire a subspecialty, such as oncology or developmental-behavioral pediatrics.

Average Annual Salary: $184,570
Requirements:
- Bachelorâs degree (four years)
- Medical school (four years)
- Pass a licensure exam
- Residency (three years)
- Obtain American Board of Pediatrics certification

See the Average Salary for Pediatricians

16. Computer and Information Systems Manager

Technology is a big part of our lives these days, and if youâre good with computers and data, you might find a passion for this career. Computer and information systems managers plan, coordinate, and direct activities in electronic data processing, computer programming, information systems, and systems analysis. They are there to help companies and organizations navigate technology. In addition to supervising workers, they also help install and upgrade systems and protect them from potential threats.

Average Annual Salary: $161,730
Requirements:
- Bachelorâs degree (four years)
- Graduate degree (recommended)
- Industry certifications and experience

17. Architectural and Engineering Manager

From a small coffee shop to a huge skyscraper, do you ever wonder how buildings come to life? As an architectural and engineering manager, you would plan, direct, and coordinate architectural and engineering activities or work on research and development. Some managers work in offices designing and coordinating the creation of buildings that are safe and purposeful. Others may also work in research laboratories and construction sites.

Average Annual Salary: $158,100
Requirements:
- Bachelorâs degree (four years)
- Graduate degree (recommended)
- Industry certifications and experience

18. Natural Science Manager

If science was your favorite subject as a kid and you loved to do experiments, becoming a natural science manager might make your younger self very happy. Natural science managers supervise scientists such as chemists, physicists, and biologists by planning, directing, and coordinating activities in those fields. They may spend their time in labs or in the office coordinating production, testing, and quality control of research projects.

Average Annual Salary: $154,930
Requirements:
- Bachelorâs degree (four years)
- Graduate degree (recommended)
- Experience as a scientist

19. Marketing Manager

Are you a creative person with a love for problem-solving and communicating with others? If so, becoming a marketing manager* might be what youâre looking for. Marketing managers supervise the whole process of creating and implementing marketing campaigns. They determine the demands of products and services and identify potential customers and opportunities. In addition to developing strategies to maximize profits, they also provide help with hiring staff and team-building.

Average Annual Salary: $154,470
Requirements:
- Bachelorâs degree (four years)
- Graduate degree (recommended)
- Industry certifications and experience

20. Petroleum Engineer

Becoming a petroleum engineer* is the right path for you if you want to help provide the world with energy. Petroleum engineers design equipment to help extract oil and gas from the earth and determine the need for new tools and equipment. To do this, they spend a lot of time researching, studying, and analyzing data to find the safest and most cost-effective way to perform the extractions.

Average Annual Salary: $154,330
Requirements:
- Bachelorâs degree (four years)
- Professional engineering license
- Society of Petroleum Engineers certification (recommended)

21. Financial Manager

Financial managers* are responsible for the finances of a company by planning and directing accounting, insurance, securities, banking, and any other financial activities. Their tasks can range from creating financial reports, developing long-term financial goals, and directing investment activities. If you have a love for numbers and have great attention to detail and communication skills, this is the job for you.

Average Annual Salary: $151,510
Requirements:
- Bachelorâs degree (four years)
- Masterâs degree (recommended)
- Obtain some certifications and licensures

See the Average Salary for Financial Managers

22. Podiatrist

If you want to join a critical field and make an impact in people’s lives by relieving their pain, becoming a podiatrist* might be the right step for you. Podiatrists are physicians who specialize in diagnosing and treating diseases and deformities of the human foot, ankle, and lower leg. They are able to perform surgeries and transplants, and can also prescribe medications and braces for less complex cases.

Average Annual Salary: $151,110
Requirements:
- Bachelorâs degree (four years)
- Podiatric medical school (four years)
- Residency (three years)
- Pass American Podiatric Medical Licensing Exam

See the Average Salary for Podiatrists

23. Lawyer

Representing clients in civil and criminal legal issues and disputes, lawyers can also advise clients on legal transactions and prepare legal documents. As a lawyer, you may work in the private sector for big firms and even small businesses, or work in the public sector for the government as a district attorney or public defender. If you have a passion for helping people and solving conflicts, this might be the right path for you.

Average Annual Salary: $148,910
Requirements:
- Bachelorâs degree (four years)
- Law school (three years)
- Pass a state-specific law exam
- Internship experience

24. Sales Manager

Sales managers* direct an organizationâs sales team by planning, directing, and coordinating the distribution of a product or service. Some duties may include establishing sales territories, setting quotas and goals, analyzing sales statistics, and training sales representatives. If you want to become a sales manager, you have to not only be great at selling but also making strategic decisions and motivating people.

Average Annual Salary: $147,580
Requirements:
- Bachelorâs degree (recommended)
- Masterâs degree (recommended)
- Industry experience and certifications

See the Average Salary for Sales Managers

25. Advertising and Promotion Manager

As an advertising and promotion manager*, you would plan and coordinate advertising programs and policies. They build interest in purchasing products or services from their organization, as well as create marketing materials such as posters, giveaways, brochures, and coupons. If you want to have a job in which you can put your creativity to action, this is the right career for you.

Average Annual Salary: $147,560
Requirements:
- Bachelorâs degree (recommended)
- Masterâs degree (recommended)
- Industry experience and certifications

50 Additional High-Paying Careers

If the careers mentioned above are not a fit for you, there are plenty of other jobs that pay a lot of money. Here are 50 additional careers that make the most money, listed by average annual salary:

Physicist* – $137,700
Compensation and Benefits Manager – $137,160
Astronomer – $136,480
Public Relations and Fundraising Manager* – $135,580
Law Teacher – $134,760
Human Resources Manager* – $134,580
Purchasing Manager* – $132,660
Judge* – $131,850
Computer and Information Research Scientist – $130,890
Air Traffic Controller* – $127,440
Computer Hardware Engineer – $126,140
Training and Development Manager* – $125,920
General and Operations Manager* – $125,740
Pharmacist* – $125,460
Optometrist* – $125,440
Nuclear Engineer – $125,130
Health Specialties Teacher – $124,890
Political Scientist – $124,100
Personal Service Manager – $123,980
Economics Teacher – $123,720
Actuary* – $123,180
Personal Financial Advisor* – $122,490
Aerospace Engineer* – $121,110
Economist* – $120,880
Computer Network Architect – $119,230
Medical and Health Services Manager – $118,800
Industrial Production Manager – $118,190
Sales Engineer* – $117,270
Physician Assistant* – $116,390
Nurse Midwife* – $115,540
Education Administrator* – $115,200
Chemical Engineer* – $114,820
Nurse Practitioner* – $114,510
Art Director* – $114,490
Software Developer* – $114,270
Engineering Teacher – $114,130
Industrial-Organizational Psychologist – $112,690
Mathematician – $112,530
Electronics Engineer* – $112,320
Geoscientist – $112,110
Air Transportation Worker – $111,420
Physical Scientist – $110,100
Veterinarian* – $108,120
Administrative Services and Facilities Manager – $108,120
Information Security Analyst* – $107,580
Business Teacher – $107,270
Construction Manager* – $107,260
Electrical Engineer* – $105,990
Biochemist – $104,810
Microbiologist* – $91,840

Deciding your future is never easy, but planning in advance can not only give you peace of mind but help you achieve your goals faster. If having financial freedom and emotional well-being is a priority to you, having a high-paying job can help you achieve that. Itâs not always easy to do, and having a job with a high salary will be demanding. Now that you went through the list of careers that make the most money, you can feel inspired to begin following your dreams.

How to Land a High-Paying Career

Methodology

In order to find out the top 75 careers that make the most money, we used data from the U.S. Bureau of Labor Statics National Occupational and Wage Estimates from May 2020. The average annual salary is the data provided under annual mean age and sorted from highest to lowest. To calculate the average of what Americans spend their yearly salary on, we used the average expenditure per consumer unit research. To achieve the percentages, we added up the income quintiles percentages provided in Table C for each category and divided them by 5, which resulted in the average percentage spend.

*The salaries in Mintâs Salary tool have a different source and might differ from the ones listed from the Bureau of Labor Statistics.

The post What Careers Make the Most Money: 75 Jobs for Fuller Pockets appeared first on MintLife Blog.

Source: mint.intuit.com

January 11, 2022

Apartment Building Classes: What They All Really Mean

To determine a building’s class, you have to look at many different factors.

Investing in an apartment community can get a little complicated. Mostly because there are several types of building classes, each with its own set of characteristics and potential for return on investment. So, deciding which one is best for you takes some consideration.

Whether they include a handful of units or hundreds of them, apartment communities are multi-family commercial real estate, and they’re categorized into different building classes to help investors and lenders better understand the quality of each, the level of risk of the investment and the potential returns.

The properties are given a letter grade — A, B, C or D. These building classes, which are also known as asset classes, factor in a number of elements like a property’s age, location, income level of tenants, appreciation, amenities and how much rental income property owners can earn. Here’s a closer look at these different apartment building classes.

What is a Class A property?

High-rise, luxury building

A Class A apartment are among the highest quality properties in an area. They’re usually newer, built in the last 15 years or so. But any renovated historic or older property can be Class A, too. These apartment communities also usually feature amenities, like new appliances and an on-site fitness center. They’re in great locations, near top employers, in top-rated school districts and close to activities.

A Class A apartment offers a desirable place to live. Property owners likely won’t have any trouble renting them out and vacancies will be minimal. Rentals in these building classes typically attract higher-income tenants, and you can rent them out for top-of-the-market prices. The properties also have fewer maintenance issues, meaning expenses won’t cost much.

Because of these factors, a Class A property is the least risky investment compared to other property types. They may cost more to buy, but they’ll be easy to rent, bring in a steady income and have fewer expenses.

What is a Class B property?

Generic apartment building

Class B properties are a step down from Class A rentals. They might be a little older but are usually well-maintained and in good shape. From an investor’s perspective, they might be less expensive to buy and could move to a higher class after renovations. If you don’t opt for a complete renovation, these homes might come with a few extra maintenance costs.

Class B rentals are usually not in an area’s most desirable neighborhoods and they may have fewer amenities. Still, you’re likely to attract good-quality, stable tenants. You probably can’t charge as much rent as for a Class A, so you won’t earn as much income. And, you will have more vacancies to deal with.

Since Class B properties typically come with more expenses and won’t always bring in as much rental income, they’re considered a little riskier than investing in Class A apartment building classes. It might take some time to see a decent return on investment with a Class B building.

What is a Class C property?

Apartment building that needs some work

The next step down in building classes is a Class C property. These rentals are usually older (more than 20 years old) and feature few amenities. They often need extensive plumbing, wiring and structural repairs. Class C homes are usually in lower-income neighborhoods where rent prices are less expensive. In many cases, the rentals also lack easy access to grocery stores, restaurants, parks and other amenities.

Class C properties are risky investments. Tenants might be less financially stable, so vacancies could be common. Still, properties in Class C building classes are worthwhile investments. They’re usually inexpensive to buy but may require a substantial investment to meet local rental laws. Even though rent prices are low, you’ll likely have a stream of tenants since many areas lack affordable housing. Over time, you can recoup your investment and start to see gains.

What is a Class D property?

Run-down apartment building

Class D properties are the least-desirable type of multi-family commercial real estate. The buildings are usually old and need significant repairs or even full-on renovations. Some aren’t up to code and don’t meet local landlord-tenant law requirements for adequate living spaces.

These rentals are often located in declining neighborhoods that have high crime rates and lack access to grocery stores or pharmacies. Properties in this building class attract low-income tenants who may have evictions or even criminal histories. Some aren’t able to pay rent consistently or on time.

Class D rentals are usually affordable for investors, but they come with high costs. You’re also not necessarily guaranteed a steady monthly income. Because of these factors, Class D apartment buildings are the riskiest investment.

Why does property class matter?

Investing in any of the building classes has its pros and cons and comes with its own set of risks and rewards. When deciding which type of multi-family real estate to invest in, consider how much the property costs to purchase, how much you’ll spend to get it ready to rent out, how much rent you can charge and how likely you are to keep it rented.

Many investors recommend investing in Class B and C properties. They’re affordable to buy and less risky during market changes. In a downturn, when people lose their jobs, many can’t afford to live in the top-of-the-market Class A rentals and move into Class B and C homes. There is usually a higher demand for B and C building classes no matter the market conditions.

What apartment building classes really mean

If you’re planning to invest in an apartment community, understanding the different building classes will help you make the best choice so you see a return on investment. Once you’ve settled on a property and are ready to rent it out, listing it on Rent.com will streamline the process of taking applications, screening tenants and collecting rent.

Source: rent.com

January 11, 2022

6 Things to Do If Youâre Hoping to Buy a House This Year

If you’re looking to buy a home in 2022, you already know that you’re plunging into a turbocharged housing market. A shortage of homes for sale has pushed prices higher and higher.

The median home price climbed to about $350,000 as of late 2021 — an annual increase of nearly 15%, according to the National Association of Realtors.

Things are expected to slow down a little in 2022 due to an expected rise in interest rates. But if you want to buy your own home, you’ll need to be smart and strategic about it. Consider these six tips:

1. Boost Your Credit Score

Looking to buy a home? Then there’s something you need to start thinking about right now: Your credit score. We know that sounds boring, but it’s actually super important if you’re going to be signing up for a mortgage sometime in the future.

The higher your score is, the better deal you’ll likely get on your loan. So a good credit score can save you tens of thousands of dollars over the life of a 30-year mortgage.

If you’re looking to get your credit score back on track — or if you just want to bump it up some more — try using a free platform called Credit Sesame.

Within a couple minutes, you’ll be able to see your credit score, as well as a breakdown of what factors are contributing to your score and personalized tips on how to manage your credit better. With a couple of strategic decisions, you can improve your credit, saving you thousands.

2. Grow Your Money 16x Faster — Without Risking It

To buy a home, you’re going to need to start saving up money for a down payment.

With a debit card called Aspiration, you could get up to 5% back when you swipe at certain stores, plus they give you up to 83 times the normal national interest rate on your savings balance. Plus, you’ll never pay a monthly account maintenance fee.

To see how much you could earn, enter your email address here, link your bank account and add at least $10 to your account. And don’t worry. Your money is FDIC insured and under military-grade encryption. That’s nerd talk for, “this is totally safe.”

3. Get Paid Every Time You Buy Toilet Paper

To save up that down payment, you’re going to want to find new ways to save money on everything else. For example, groceries account for a good chunk of your budget. Everybody’s got to eat. You may as well earn a little money back while your groceries are being bagged up.

A free app called Fetch Rewards will reward you with gift cards just for buying toilet paper and more than 250 other items at the grocery store.

Here’s how it works: After you’ve downloaded the app, just take a picture of your receipt showing you purchased an item from one of the brands listed in Fetch. For your efforts, you’ll earn gift cards to places like Amazon or Walmart.

You can download the free Fetch Rewards app here to start getting free gift cards. Over a million people already have, so they must be onto something.

4. Stop Overpaying for Stuff Online

Here’s another way to save money. Wouldn’t it be nice if you got an alert any time you’re shopping on Amazon or Walmart.com and you’re about to get ripped off?

That’s exactly what this free service does.

Just add it to your browser for free, and before you check out, it’ll check other websites, including Walmart, eBay and others to see if your item is available for cheaper. Plus, you can get coupon codes, set up price-drop alerts and even see the item’s price history.

Let’s say you’re shopping for a new pair of shoes, and you assume you’ve found the best price. Here’s when you’ll get a pop up letting you know if that exact pair of shoes is available elsewhere for cheaper. If there are any available coupon codes, they’ll also automatically be applied to your order.

In the last year, this has saved people $160 million. You can get started in just a few clicks to see if you’re overpaying online.

5. Knock $540/Year From Your Car Insurance in Minutes

When it comes to saving up for a down payment, cutting your other bills can make a huge difference. So when’s the last time you checked car insurance prices?

You should shop your options every six months or so — it could save you some serious money. Let’s be real, though. It’s probably not the first thing you think about when you wake up. But it doesn’t have to be.

A website called Insure.com makes it super easy to compare car insurance prices. All you have to do is enter your ZIP code and your age, and it’ll show you your options.

Using Insure.com, people have saved an average of $540 a year. That could be money back in your pocket just for taking a few minutes to look at your options.

6. Stop Paying Your Credit Card Company

Getting a mortgage for a house is a form of debt. But credit card debt is the most expensive kind of debt there is, and your credit card company is just getting rich by ripping you off with high interest rates. However, a website called AmOne can help you fight back.

If you owe your credit card companies $50,000 or less, AmOne will match you with a low-interest loan you can use to pay off every single one of your balances.

The benefit? You’ll be left with one bill to pay each month. And because personal loans have lower interest rates (AmOne rates start at 3.49% APR), you’ll get out of debt that much faster. Plus: No credit card payment this month.

It takes two minutes to see if you qualify for up to $50,000 online. You do need to give AmOne a real phone number in order to qualify, but don’t worry — they won’t spam you with phone calls.

Buying a home is a major step in life. If you follow these strategies, you’ll get closer to your goal.

Mike Brassfield ([email protected]) is a senior writer at The Penny Hoarder. He’s a homeowner.

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Source: thepennyhoarder.com

January 9, 2022

What Is the HEMS Standard in Estate Planning?

The "HEMS" (health, education, maintenance, support) standard in estate planning is used to guide trustees in how/when they should release funds to a beneficiary.

The HEMS standard is used in estate planning to guide trustees in how and when they should release funds to a beneficiary. By including HEMS language in a trust, you can exert greater control over how the trustâs assets are ultimately spent and for what purpose, including health and education expenses. This can be especially useful if a trustâs beneficiary is young or financially inexperienced. A financial advisor who offers estate planning services can help you set up a trust that meets the needs of you and your beneficiaries.

What Is a HEMS Provision?

HEMS is an acronym that stands for health, education, maintenance and support. When assets are distributed to the beneficiaries of a trust with a HEMS provision, the money can only be used for specific needs tied to the beneficiariesâ health, education or living expenses. These may include college tuition, mortgage and rent payments, medical care and health insurance premiums.

Hereâs a look at some examples of HEMS distributions:

HEMS Standard: A Breakdown Health Education Maintenance and Support Medical treatment Tuition for all levels of education Mortgage or rent Health insurance College housing and dining Taxes Eye exams and dental care Career training Insurance Prescription drugs Studying abroad Customary vacations Some elective procedures Books Gifts for family members Gym memberships Other support Reasonable comforts

While a HEMS provision gives a trustee guidance on how assets should be distributed (the trustee ultimately has the discretionary authority to decide whether an expense qualifies). This can be relatively straight forward when it comes to the health and education components of a HEMS provision, but the maintenance and support category can be more ambiguous. Thatâs because maintenance and support can include distributions that allow a beneficiary to maintain their typical standard of living, which can even include travel and vacation expenses.

Benefits of HEMS

The "HEMS" (health, education, maintenance, support) standard in estate planning is used to guide trustees in how/when they should release funds to a beneficiary.

Having a HEMS provision in your trust can be beneficial in several ways. First, by limiting what types of distributions are allowed, youâll better ensure that the assets held in the trust are not spent frivolously. This can be especially important if the trustee is also a beneficiary. By establishing certain restrictions, the odds of the trust being drawn down too quickly diminish.

Second, by giving the trustee guidelines for how assets should be distributed to beneficiaries, youâll make their job that much easier. A HEMS provision can narrow the vast discretionary authority that some trusts endow their trustees and can help them better preside over the entity.

Lastly, HEMS language isnât one size fits all. It can be as specific or broad as you like. For example, you can establish a trust whose assets can only be distributed to pay college tuition or the long-term care of a sick or disabled beneficiary. Another grantor may not include such specific language and instead give the trustee broader discretion to allocate assets for any health, education, maintenance and support expenditures.

Bottom Line

The "HEMS" (health, education, maintenance, support) standard in estate planning is used to guide trustees in how/when they should release funds to a beneficiary.

The HEMS standard is used in estate planning to ensure assets in a trust pay for the health, education, maintenance and support of a beneficiary. A HEMS provision can help guide a trustee and protect assets from being spent too quickly. Common examples of expenses that warrant a HEMS distribution are college tuition and medical care, as well as mortgage or rent payments.

Estate Planning Tips

Estate planning can be a complicated and stressful proposition for someone without proper guidance. A financial advisor who specializes in estate planning can help you create a plan that will ensure your loved ones are taken care of when youâre gone. SmartAssetâs free tool can match you with up to three financial advisors in just five minutes. If youâre ready, get started now.
If you have a considerable amount of assets, itâs important to familiarize yourself with the laws surrounding estate and gift taxes. While the federal government charges both estate and gift taxes, some states have their own death taxes that youâll want to consider while planning your estate.

Photo credit: iStock.com/FatCamera, iStock.com/Yagi-Studio, iStock.com/Jovanmandic

The post What Is the HEMS Standard in Estate Planning? appeared first on SmartAsset Blog.

Source: smartasset.com

January 8, 2022

Whatâs the Difference Between a Co-op and a Condo?

It’s easy to get confused about the difference between co-ops and condos. If you pulled up pictures of each during a home search, they might seem exactly the same.

But if you’re in the market for a home — especially in a large city where both housing types are popular — you’ll learn quickly that the terms are not interchangeable.

You might have wondered if you’d prefer a house or a condo. But if you’re moving in the direction of co-op vs. condo, it’s important to understand their many distinct features.

Both give a resident the right to use certain common areas, such as pools, gyms, meeting rooms, and courtyards. But there are big differences when it comes to what you actually own when you purchase a condo or co-op.

You’ve done the work of budgeting for a home. Now you need to get a handle on the difference between a condo and a co-op.

What Is a Condo?

With a condominium, you own your home, but you don’t solely own anything outside your unit — not even the exterior walls. Common areas of the complex are owned and shared by all the condo owners collectively.

Buying a condo is not all that different from securing any other type of real estate.

Typically, the complex will be managed by a homeowners association that is responsible for maintaining the property and enforcing any covenants, conditions, and restrictions that govern property usage. The HOA sets the regular fees needed to pay for repairs, landscaping, other services, and insurance for the shared parts of the property. Special assessments also might be levied to pay for unexpected repairs and needed improvements that aren’t in the normal operating budget.

What Is a Co-op?

In the co-op vs. condo debate, it’s key to know that with a housing cooperative, residents don’t own their units. Instead, they hold shares in a nonprofit corporation that has the title to the property and grants proprietary leases to residents. The lease grants you the right to live in your specific unit and use the common elements of the co-op according to its bylaws and regulations.

A co-op manager usually collects monthly maintenance fees; enforces covenants, conditions and restrictions; and makes sure the property is well kept.

As a shareholder, you become a voting manager of the building, and as such have a say in how the co-op is run and maintained. Residents generally vote on any decision that affects the building.

With a co-op, should you want to sell your shares, members of the board of directors will have to approve your new buyer. They will be much more involved than would be the case with a condo. That can make it a lengthy process.

Co-ops and condos are both common-interest communities, but their governing documents have different legal mechanisms that determine how they operate and can affect residents’ costs, control over their units, and even the feeling of community.

Some Pros & Cons of Co-Ops vs Condos

Financing

It’s important to drill down on the details of buying an apartment. Because you aren’t actually buying any real estate with a co-op, the price per square foot is usually lower than it would be for a condo. Eligibility for financing may depend on credit score, down payment, project analysis, minimum square footage of a unit, and more.

However, it might be somewhat harder to get a mortgage for a co-op than a condo, even if the bottom-line price is less. It might not have all that much to do with you. Some lenders are reluctant to underwrite a mortgage for a property on which they can’t foreclose.

Most condo associations don’t restrict lending or financing in the building. If you can get a mortgage, the condo association will usually let you buy a place.

Fees

Because a co-op’s monthly fee can include payments for the building’s underlying mortgage and property taxes as well as amenities, maintenance, security, and utilities, it’s usually higher than the monthly fee for a condo. Either way, though, generally the more perks that come with your unit, the more there is to maintain and in turn, the more you’re likely to pay.

If you’re concerned about an increase in fees, you might want to ask the association or board about any improvements that may lead to an increase in the future — and what the rules are for those who do not pay their assessed dues.

All of these factors are important to weigh when you’re making a home-buying checklist, which includes figuring out how much money you’ll need and the best financing strategy.

Taxes

If you itemize on your income tax return, you may be able to deduct the portion of a co-op’s monthly fee that goes to property taxes and mortgage interest. However, none of a condo’s monthly maintenance fee is tax deductible.

You might want to consult a tax professional about these nuances before moving forward with a co-op or condo purchase.

Privacy vs Community

If you’ve ever lived in one of those neighborhoods where the only time you saw your fellow residents was just before they pulled their cars into their garages, it could take you a while to adjust to cooperative or association living. Because you share ownership with your neighbors, you may be more likely to see them at meetings and other events. And you can trust that they’ll know who you are.

Co-op boards often require prospective buyers — who are potential shareholders — to provide substantial personal information before a purchase is approved, including personal tax returns, personal and business references, and in-person interviews.

You may find that you like the sense of community and that everyone knows and looks out for each other. Or you may not. Again, you might want to ask some questions about socialization and privacy while checking out a particular co-op or an active condo community.

Restrictions

In a co-op, you might run into more rules regarding how you can renovate or even decorate your unit. And don’t forget: You’ll also have to deal with that rigorous application approval process if you ever decide to sell.

Both condos and co-ops frequently have restrictions on renting your unit, how many people can stay overnight or park in the parking lot, the type of pets you can have and their size, and more. Before you look at a unit, you may want to ask your agent about covenants, conditions, and restrictions that could be difficult to handle.

The Takeaway

Whether you end up saying home sweet co-op or condo, ownership offers many benefits you won’t find in a rental. When you’re ready to start a serious search, take the time to look for a lender that will work with you on whatever type of loan you might require. In the co-op vs. condo terrain, there are specialists for both sides.

SoFi offers competitive options for home loans and refinancing, working with you to find the right fit for your financial needs. You can get prequalified online in just minutes, and you may be able to put as little as 5% down.

Check your rate on a SoFi mortgage today.

SoFi Loan Products
SoFi loans are originated by SoFi Lending Corp. or an affiliate (dba SoFi), a lender licensed by the Department of Financial Protection and Innovation under the California Financing Law, license # 6054612; NMLS # 1121636 . For additional product-specific legal and licensing information, see SoFi.com/legal.
SoFi Home Loans
Terms, conditions, and state restrictions apply. SoFi Home Loans are not available in all states. See SoFi.com/eligibility for more information.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
Tax Information: This article provides general background information only and is not intended to serve as legal or tax advice or as a substitute for legal counsel. You should consult your own attorney and/or tax advisor if you have a question requiring legal or tax advice.
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Source: sofi.com

January 6, 2022

11 Super-Simple Ways to Build Wealth in 2022

A wealthy couple — Jacob Lund / Shutterstock.com

To paraphrase William Shakespeare, some people are born wealthy and others achieve wealth. If you weren’t lucky enough to be in the first group, then it’s time to get going on your self-made fortune.

Think that can’t happen? You’re wrong. Pathways to wealth are everywhere. Why shouldn’t you take them?

Some of these smart choices will save you money upfront. Next, use that money to make more money through strategies like fractional investing and online wealth management.

Want to put yourself on the road to riches? These tactics can help.

1. Used Chevy or new Mercedes?

Save $100 a month, earn 1% on it and after 20 years you’ll have $26,545. Enough for a used Chevy.

Boost that percentage to 15%, and you’ll end up with $124,569 after 20 years. That’s nearly $100,000 more: enough for a new Mercedes.

Of course, earning 15% isn’t easy (the stock market’s average return is about 10%) and never guaranteed, but here’s something that is guaranteed: You won’t be earning big returns at the bank.

If you want to super-charge your savings, you’ve got to invest.

Plenty of people grow up thinking that “investing” is something only rich people do. Not so! You can start your investing journey with as little as $1, without paying a dime in fees, thanks to an investing app called Public.

With the Public app, you take part in “fractional investing,” which means buying little slivers of companies, funds or crypto assets. Take your choice from among thousands of exchange-traded funds (ETFs) and stocks.

Start by signing up and telling the app what investing experience (if any) you have and what your investing goals are. According to Public, 90% of users are in it for the long haul.

There’s no charge to join, although you’re allowed to leave tips on transactions. And again: You can start with as little as $1. What else can you get for a buck these days? Even dollar stores are raising their prices!

Download the app now, and take the first step toward getting rich instead of just getting by.

2. Chop your car insurance bill by $700 a year

Auto insurance is a must. You know what isn’t a must? Paying too much for coverage.

People who switch to Progressive for their auto insurance can save up to $700 – not just initially, but every year. Imagine what you could do with an extra $700 in your budget.

Emergency fund? Extra payment against your mortgage? Retirement planning? It’s your call. Point is, those are dollars that are now working for you instead of for someone else.

Incidentally, a cheaper premium doesn’t mean you’re cheaping out on protection. Progressive is known for its strong coverage. Request your free quote now and see how much you can save this year, and every year.

3. Let mortgage savings put your kids through college

If you’re currently paying about 4% on your mortgage, refinancing could lower your rate to as low as 2.376%.

Not much of a difference, right?

Well, if your mortgage is $300,000, that lower rate would mean paying about $94,000 less in interest over the life of the loan. That’s enough to put your kids through college, start your own business or retire earlier.

Maybe you know the savings would be significant, but haven’t refinanced yet because it seems so complicated. It isn’t. A direct lender called Better will make it child’s play.

The simplifying starts with a near-instant rate quote, and continues through the refinancing process. Better doesn’t charge origination fees or lender fees, and you can get a mortgage interest rate lock if you like.

Millions of homeowners around the country are saving every month because they refinanced. But the experts are saying these low rates won’t last. It’s do-it-or-lose-it time.

Get your new, personalized rate today, and make strides toward a better tomorrow.

4. Stop worrying about expensive household breakdowns

For most of us, our home is our most valuable asset. We put a lot of money down to buy it and pay a lot of money each month to keep it. Sometimes we’re stretched pretty thin financially, so when things break down it can be tough to cover the fixes.

The heating/cooling system grinds to a halt. A major appliance gives up the ghost. And why are the lights flickering — could it be the electrical panel?

What you need is a full-time maintenance person.

The next best thing? A home warranty from America’s 1st Choice Home Club. You can choose from among several coverage plans that cover issues with appliances, plumbing, heating, electrical systems and more. You can use your own technician or let America’s 1st Choice send someone over.

A breakdown happens in the middle of the night? Doesn’t matter. The in-house service team is available 24/7.

All this starting for as little as $390 a year.

Homeownership is great. But when things go wrong — and they will! — we can no longer call the landlord. We are the landlord, and we might go into debt just to keep things running smoothly.

Stop worrying about household breakdowns, and the high costs that come with them. Get a free quote in 30 seconds.

5. Get paid to watch videos and take surveys

Think of all the time you spend waiting somewhere. Waiting for the spin cycle in the laundromat. Waiting at the auto shop until the mechanic can give you an estimate. Waiting for your kid’s sports practice to be over. Waiting in an exam room for the doctor, who’s running 20 minutes late.

You could spend that time watching funny cat videos — or you could use that time to make some money. Our friends at InboxDollars can help you with the latter.

InboxDollars is a rewards site that pays you actual cash to watch videos and take surveys. Seriously: Why not use your downtime to make money?

Those aren’t the only ways to earn money with InboxDollars, however. You can also do some online shopping, click on daily emails, scan your grocery receipts into the “Magic Receipts” function, complete special offers (especially those for things you’d planned to buy anyway), play games and even help others by making donations to various causes.

From now on, get paid for waiting. It takes seconds to sign up, and you’ll get a $5 welcome bonus just for joining.

6. Find cheaper homeowners insurance in 60 seconds

Again, our homes are usually our most valuable asset. It’s essential to make sure they’re protected in the event of an emergency. But how do you know whether you’re overpaying for homeowners insurance?

Simple: You ask Lemonade for an estimate. It takes only a few seconds to find out whether you could be keeping more of your hard-earned money each month. Lemonade’s coverage starts from just $25 a month.

Homeowners insurance isn’t just about fixing things up after a fire, though. The dog bit the mailman? Lemonade can help with legal and medical payments.

A thief steals your stuff? Lemonade has your back, even if the theft happened away from home.

Your home rendered unlivable due to that fire? A homeowners insurance policy through Lemonade will cover expenses until you can get back into your home sweet home.

Why overpay with your current carrier? Find cheaper home insurance in seconds.

7. Add $1.7 million extra to your retirement

A recent Vanguard study indicated that a self-managed $500,000 investment would grow into $1.69 million in 25 years, on average. Sounds pretty good, huh?

However, with professional help, that same $500,000 would have turned into $3.4 million. In other words, a quality financial adviser could double your retirement nest egg!

At least talk to a pro, especially when finding one is free and easy. SmartAsset is a free service that will match you with a qualified money manager who can help you put your money where it will do you the most good.

Bank interest rates don’t beat inflation, so the value of your savings erodes over time. Stocks and other investments have historically beaten inflation, but a lack of knowledge and experience leaves you vulnerable to dodgy advice or financial scams.

SmartAsset will put you in touch with up to three local, experienced professionals, all of whom are fiduciaries, meaning they’re required to put your best interests over their own. They can give you a clear picture of where you are now, and help you develop the right plan for the long term.

Since the first appointment is often free, what have you got to lose? If you’re ready to at least consider a local adviser, check it out.

8. Protect your wealth with a gold IRA

Not everyone is comfortable with traditional retirement investments. Some people are opting for a “gold IRA,” which is just what it sounds like: gold, gold and more gold. This can be bullion (coins or bars) only, or also include gold stocks, ETFs and mutual funds. Gold is one of the few commodities that the Internal Revenue Service approves as an IRA investment. It’s a finite resource, rather than one that can be controlled by governments or banks.

Sound intriguing? Time to educate yourself, with help from American Hartford Gold.

This family-owned company can help you set up a gold IRA that meets all IRS standards. Chief among them: The gold must be kept at an approved depository. (No, you can’t bury it in your backyard.)

There may be less than 20 years’ worth of mineable gold remaining in the ground. As the saying goes about real estate, they ain’t making any more of it. Demand for gold is rising all over the world, especially in the electronics industry, so your IRA has a great chance to increase its value until you’re ready to retire.

American Hartford Gold has an A+ rating with the Better Business Bureau, and a 5-star rating with TrustPilot. Get your free investors kit now.

9. Diversify your portfolio with art collected by billionaires

Billionaires didn’t become billionaires by making bad investment choices. And billionaires have been collecting art for generations; for example, the Rockefellers amassed a collection that sold for an eye-popping $835 million in 2017.

But it isn’t just the ultra-rich who can invest in art by Banksy, Warhol and Picasso. With a new investing app called Masterworks, you can invest in iconic artworks as well – right alongside deep-pocketed folks like Bill Gates, Oprah Winfrey and Jeff Bezos.

Blue-chip art outpaced the S&P 500 from 1995-2021, which is impressive considering that historic bull run we’re now witnessing. The Wall Street Journal recently reported that art is “among the hottest markets on Earth.”

Art also has one of the lowest correlations to stocks that you can find. In other words, art’s value doesn’t have anything to do with the stock market’s wild swings, which makes it a good hedge.

Masterworks is an invitation-only art investment platform. So if you want to invest like a billionaire, request your invitation to join here.

10. Borrow $50,000 to erase your debt

Ever feel like you’ll never get out from under your credit card debt? Consumer debt is way too easy to get into, yet sometimes feels impossible to escape. You pay as much as you can each month, but the high interest rate just keeps piling on the dollars.

AmOne is a free service that matches people like you with loan providers. When you fill out one simple form online, AmOne finds lenders who want to fund your loan of up to $50,000.

Once you’ve been approved and agree on the terms, it can take as little as 24 hours to get the cash. Use the money to erase all your debt at once, then pay back the personal loan at a lower interest rate than those credit cards were charging you.

The service does only a “soft” credit pull, rather than have you going directly to lenders and getting “hard” credit pulls that affect your credit score. And speaking of your credit score: You don’t need an “excellent” rating to be considered, since AmOne’s lending partners are willing to work with people of varying credit ratings.

AmOne has a 4.7-star rating (out of 5) on TrustPilot. It’s free to check your rate online, and it literally takes just one minute.

11. Pay no interest until 2023 with a better card

Another way to deal with high credit card balances? Get another credit card. Specifically, get a 0% APR card, transfer those balances and get charged no interest while you’re paying down the debt.

There’s another good reason to get a 0% APR card: to get free financing on a big-ticket item.

Suppose your HVAC system goes out or your car needs a few thousand bucks’ worth of repairs. Rather than deplete your emergency fund, pay with that new 0% APR card to give yourself some breathing room while you pay it off.

How much breathing room? Anywhere from 15 to 21 months, depending on the card you choose.

You’ll need a plan to go along with that new card: no more using the other cards with unnecessary splurges while you pay off the 0% APR card. It doesn’t make sense to run up more debt while you’re paying off old debt.

But with a 0% card, you’ll pay no interest. Think of all the interest you’d been paying, and what those dollars could have done for your long-term financial security. With a 0% APR card, you won’t have to waste any more of your hard-earned dollars on interest.

Compare these top cards and discover the best one for you.

Disclosure: The information you read here is always objective. However, we sometimes receive compensation when you click links within our stories.

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Source: moneytalksnews.com

January 4, 2022

The Chime Credit Builder Visa Card Could Help Raise Your Credit Score by 30 Points on Average

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A low credit score can haunt you. Mundane tasks like renting a car or signing up for a new cell plan can put you on edge, knowing that your low credit score is always lurking right behind you.
With the secured Chime Credit Builder Visa® Credit Card, you could help raise your credit score by 30 points¹ on average — even if you don’t qualify for a typical credit card.

How to Start Building Your Credit

Unlike conventional credit cards, Chime won’t ding you for maxing out your credit card. Just make sure you keep paying at least the minimum payment every month.
⁴ On-time payment history can have a positive impact on your credit score. Late payment may negatively impact your credit score. Chime will report your activities to Transunion®, Experian®, and Equifax®. Impact on your credit may vary, as credit scores are independently determined by credit bureaus based on a number of factors including the financial decisions you make with other financial services organizations.
You can also keep score in the Chime app, where you can review your credit score and the factors impacting it. So if your score doesn’t improve much with on-time payments, you can figure out what else could be keeping your score down.

How it Works

Ready to stop worrying about money?
Source: thepennyhoarder.com
Banking services for the Chime Checking Account are provided by The Bancorp Bank or Stride Bank, N.A., Members FDIC. The Chime Visa® Debit Card is issued by The Bancorp Bank or Stride Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted. Please see back of your Card for its issuing bank. The Chime Credit Builder Visa® Credit Card is issued by Stride Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted.

See How Much You Can Improve Your Credit Score

Get started here to see how many points you could add to your credit score.
² Money added to Credit Builder will be held in a secured account as collateral for your Credit Builder card, which means you can spend up to this amount on your card. This is money you can use to pay off your charges at the end of every month.
Then just move money into your Credit Builder secured account — this becomes your credit limit and the money you’ll use to pay your balance. This card doesn’t require a hard credit check for approval — your deposit is your assurance that you’ll repay whatever you borrow.
If your credit history is littered with late payments, delinquent accounts, or you simply don’t have much of a history at all, credit card companies aren’t willing to bet you’ll repay everything you borrow from them.
³ To be eligible to apply for Credit Builder, you need to have received a qualifying direct deposit of 0 or more to your Checking Account within 365 days of your Credit Builder application. The qualifying direct deposit must have been made by your employer, payroll provider, or benefits payer by Automated Clearing House (ACH) deposit. Bank ACH transfers, Pay Friends transfers, verification or trial deposits from financial institutions, peer to peer transfers from services such as PayPal, Cash App, or Venmo, mobile check deposits, and cash loads or deposits are not qualifying direct deposits.
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However, secured credit cards like Chime’s Credit Builder give you the opportunity to bet on yourself and prove that you’re financially responsible enough to manage much more credit — you can get this card with no minimum security deposit.² To apply, all you have to do is set up a Chime Checking Account and make a qualifying direct deposit of at least 0.³
Chime will report your payment history to the major credit bureaus. As you start chaining together on-time payments every month, your credit history will start to improve, and you’ll likely see an increase in your credit score as a result.⁴
Apply for a free Chime Credit Builder card today. There’s nothing to lose, not even your deposit, but so many credit score points to be gained. <!–

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Getting a new credit card and making on-time payments is one of the best paths to a better score. But how do you get a credit card when your score keeps scaring off lenders?

January 4, 2022

The 10 Best Pets for Apartment Living

Try to match the type of pet to your living environment and always make sure they’re allowed by your landlord.

For animal lovers, having a pet to come home to each day is the absolute best. Whether you rent or own your home, living alongside a pet can help you relax, feel safe and spend more time at home happy.

According to the Humane Society, 72 percent of renters have pets, so what are the best pets for apartments?

We’ve got a few suggestions.

1. Dogs

Dogs

Pros:

Loyal and cuddly
Playful
The perfect companion for those who love the outdoors

Cons:

Need regular exercise
Can get lonely (and destructive) if left alone too much
Barking may disturb neighbors

Dogs make excellent apartment pets, but you should always make sure you’re matching the breed to your space. If you have a studio apartment, look at breeds that are smaller and less active. If you’re living in a two-bedroom with a dog park on-site, a larger, more active pup is easy to keep busy.

Dogs are ideal pets for people who already like to spend time outside. Requiring regular walks, you’ll go out and about with your pup on a daily basis. This means having a companion to walk or run with around the neighborhood, but also a guaranteed partner for outdoor adventures like hikes. If you don’t live in a highly walkable area, it’s best to find the closest dog park to ensure your dog has a regular way to exercise (and meet some friends.)

2. Cats

Cat

Pros:

Don’t mind alone time
Are relatively small
Are low-maintenance, overall, when it comes to care

Cons:

Regularly cleaning out a litter box
Scratched furniture
A lot of shedding

With an independent streak, cats are great pets for apartment dwellers who can’t always be home. They don’t mind being alone but remember to leave them with full bowls of water and food and a clean litter box if you’re gone for an extended period of time. Leaving them alone too long does give them an opportunity to do some damage around your apartment. If there are any rooms you don’t want them to scratch on the furniture, keep the doors closed when you’re not there to keep an eye out.

Since cats sleep 15 hours per day on average, you also don’t have to do much to entertain them. They’re the perfect partner for binge-watching your favorite show and sleeping in late, but they can also get playful so keep some kitty toys around for them to chase.

3. Fish

Goldfish

Pros:

Don’t make a mess
Easy to care for
Quiet

Cons:

Short lifespan
Checking water quality regularly
Some unfriendly types

Many hobbyists take on fish because there’s so much to learn. Whether you have a saltwater or freshwater tank, use live plants or fake ones, your tank can really represent your personality. It can also make a great statement piece in your apartment without taking up a ton of space. Fish are also an ideal first pet.

Although they’re pretty low-maintenance animals when it comes to feeding them, caring for their environment is a little trickier. Keeping tanks clean and maintaining water quality requires weekly work and the hours add up. Sound advice: if you think fish are the best pets for apartments, start with a small tank and easy fish. Think tetras and goldfish.

4. Hamsters and gerbils

Hamster

Pros:

Live happily in a small space
Don’t need a lot of human interaction
Fun to play with

Cons:

Cage odor
Nocturnal
Cleaning the cage regularly

Anyone who has seen a hamster tooling around its home in one of those balls knows how fun they are to play with and how cute they are to look at. These little fluffs of fur make an excellent apartment pet because they’re low maintenance and take up hardly any room. Being such small animals, a hamster/gerbil cage is tiny. Of course, if you want to add on one of those tube mazes to crawl through, that’s another thing, but you can adjust to the space you have.

Since these animals are both nocturnal, you’ll get the best playtime right before bed. They’ll also be asleep when you’re out during the day. Since they’re awake while you’re asleep though, it’s best to give them a wheel or some kind of toy to occupy themselves in the wee hours of the morning. You might also want to set up their cage in a room where nobody is trying to sleep.

5. Guinea Pigs

Guinnea Pig

Pros:

Very low maintenance
Happy in a small space
Cuddly and interactive

Cons:

Nocturnal
Social animals, so need a friend or plenty to playtime on their schedule
Unique squeak isn’t always a pleasant sound

Guinea pigs are one of the best pets for apartments because they’re extremely low maintenance. All they need is a cage or crate and some basic living essentials. They’ll sleep all day, so only need your attention when you’re typically already home.

Although happy in their cage, as long as they have a few toys, guinea pigs also like to play with others. This could mean some supervised time outside their enclosure every day where you can play and cuddle them plenty, or maybe you just need to get them a friend. Buying guinea pigs in pairs means nobody gets lonely, but it does mean more mess for your to clean.

6. Hermit Crabs

Hermit Crab

Pros:

Social
Low-maintenance
Unique

Cons:

Tank care
Nocturnal
Long lifespan (some live to 30!)

Not everyone has a hermit crab as a pet, but it’s guaranteed that anyone who does will get lots of guests admiring their choice in pets. Especially if you give your hermit crab a decorated shell to call home, these little guys can bring so much character to your space.

Setting up a hermit crab habitat requires very little. All you need is some sand, shells and climbing toys. Arrange everything in an air-filled tank with a small food bowl and water bowl, and you’re all set. This pet is ideal for someone who wants a pet they can interact with, but also just let sit and hang out with no consequence.

7. Rabbits

Rabbit

Pros:

Trainable
Cute and cuddly
Active in mornings and evenings

Cons:

Teeth maintenance — they need plenty of things to gnaw on
An enclosure can get smelly
Can take up a lot of space

The coolest thing about rabbits is you can train them. This means they’ll use a litter box like a cat and walk on a leash like a dog. While you don’t have to exercise them like a pup, they do like to play and cuddle, exhibiting as much personality as more traditional apartment pets.

Although they do just fine in small enclosures, you want them to have room to move around when you’re not home. Some people will dedicate a little more space than a typical rabbit cage for that reason, while others go big and give their bunny an entire room of their own.

Rabbits do like to play, so they need plenty of toys. Their teeth also never stop growing so they need something to gnaw on at all times. While hay is the best option for their teeth, giving them a few chew toys is also good.

8. Birds

Bird

Pros:

Social
Require minimal space to thrive
Intelligent

Cons:

Noisy
Require a lot of attention
Costly

Having a bird as a pet is not for the faint of heart. You should be an experienced pet owner to properly care for these apartment pets. You should also take breed into consideration when it comes to size, lifespan and attitude. Smaller birds like finches or canaries are often lower maintenance and more accepted in apartment buildings. Larger birds like parrots and cockatoos can get a little harder to keep as an apartment pet. They’re also a huge commitment since they can live for more than 50 years.

Birds are noisy, but it’s much easier to tolerate a few chirps and the scratching sound of them playing over repeated big-bird squawks. To keep them happy, though, they need attention, whether that’s from you or from a bird buddy. Either way, you can’t ignore your bird.

9. Snakes

Snake

Pros:

Quiet
Low-maintenance
OK on their own for long periods

Cons:

Can scare people
Escape artists
Require heat/light source at all times

Not everyone is a fan of snakes. In fact, they terrify some people, so if they’re your animal companion of choice, avoid larger constrictor breeds for a safe apartment pet. Smaller breeds like corn snakes, milk snakes and kingsnakes are the way to go.

Overall, snakes are very low-maintenance, only needing a meal about once a week. However, that meal is often something that was once alive, so you can’t be squeamish about feeding time. They do require plenty of water, but don’t need a large cage — just make sure that the lid is always on tight.

The one thing your snake does need all the time is a way to stay warm. As cold-blooded animals, snakes won’t survive without a constant heat and light source.

10. Turtles

Turtle

Pros:

Small
Quiet
Helps reduce your food waste

Cons:

Special care is necessary
Some breeds can live a long time
May end up bigger than you expected, which means they’ll need more housing space than you may expect

The best thing about a turtle? You’ll never hear them bark, meow, squeak or squawk. They’re totally quiet. They’re also pretty slow, so even if they do get out of their enclosure at any point, chances are very unlikely they’ll get away from you.

With a steady diet of fruits and vegetables, turtles are great at helping you get through all the produce you buy for yourself before anything goes bad. Their favorites are vegetable greens, apples and grapes.

What can make turtles a challenge to keep, in addition to a longer lifespan, is their living space. Turtles need a tank with specific lighting, a water filtration system and temperature control. While you don’t have to play with them a lot, you do have to keep a close eye on their living quarters.

Living with pets

Narrowing down the type of pet you want to call your own is only the first step. Once you get that pet, you have to live with them in a way that doesn’t disturb your fellow apartment dwellers. These tips can make that easier. No matter your animal choice:

Work with your pet’s personality, don’t ignore it.
Create a routine and stick to it (especially when it comes to food).
Make time to play and exercise your pet in the way that works best for them.
Provide toys and ways to stimulate your pet when you’re not at home.
Accept you may have some complaints and be sensitive to things like your pet’s footsteps if you don’t live on the ground floor.

Living in harmony with your pet in an apartment means being a good pet owner for those around you, too. As long as you give your animal companion the things it needs to survive and you spend time with it, you should do just fine.

What’s the best pet for you?

Not all pets belong in an apartment building. Some are just too big, too rowdy or too hard to properly care for in a smaller space. To that end, if you’re living in an apartment and you’re ready for a pet, make sure to check your lease as to what animals you can have. From that list, you can narrow it down to the best in the bunch for you.

Source: rent.com

January 3, 2022

11 Easy Ways to Save Money on Household Items

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Dig Deeper

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When you want to cut expenses, you usually focus on the big-ticket expenses first. Finding ways to trim your housing payment, auto insurance premium, and transportation costs leaves you with more money to put toward financial goals.

That’s a good move, but it’s also worth paying attention to what you spend on the little things. Have you ever thought about how much of your income goes toward buying things like laundry detergent, gardening supplies, and dish soap? Probably more than you’d like.

Luckily, reducing the cost of household purchases doesn’t have to be complicated. You just need to follow a few simple steps to start saving money.

Easy Ways to Save Money on Household Items

Paper towels, cleaning supplies, tools for home improvement projects: The little purchases you make monthly can add up. Fortunately, you can save a lot of money on the essentials with just a few money-saving tips.

1. Track Your Spending Habits

Before you can figure out how to save money on household goods, you need to know what you’re purchasing and how often.

I use a handy spreadsheet that lists products I regularly buy, the last two dates of purchase (to track the time between purchases), the price I paid, and notes about what I bought — for example, whether it was on sale, I used a coupon, or bought more than usual.

The spreadsheet helps me get a grip on how often I need to buy each essential, which helps me with my budgeting each month. It also helps me avoid unplanned expenditures.

For example, now that I know I use about one bottle of dish soap per month, I can plan for that expense. Knowing how frequently I need to restock particular products also gives me the option of planning purchases to coincide with sales.

Noting the price lets me determine whether I paid a reasonable price and keep track of fluctuations or increases in cost.

2. Use Rebates and Coupons

Rebates give you cash back when you buy stuff, and coupons reduce the price of a product at the point of sale.

Some people get really into couponing and find ways to lower their total at checkout to just a few dollars — or even nothing. But you don’t have to go the extreme couponing route to save money.

You can be casual about how you use coupons. If you get a physical copy of your local Sunday paper, you’re likely to come across a coupon flyer or two tucked inside it. Take a few minutes to browse through the flyer, cutting out coupons for things you use.

If you don’t get the paper, there are other ways to find coupons.

Some grocery stores offer digital coupons. You can access digital coupons by visiting the store’s website, logging into your loyalty program, and saving available coupons to your account.

When you type in your phone number or scan your card at checkout, the coupons you’ve saved automatically apply if you’ve purchased the right products (in the right quantity, if applicable).

Rebates work a little differently.

Back in the day, if something you bought was eligible for a rebate, you had to send a copy of the receipt and the UPC symbol from the packaging, then wait several weeks before getting a check in the mail.

These days, rebates have gone digital. Cash-back reward apps like Rakuten, Fetch, and Ibotta give you access to rebate offers from a wide variety of stores. But they all work slightly differently.

Some only work at brick-and-mortar stores, while others cover online purchases too. Some only give you rebates via gift cards to various retailers, such as Amazon, Target, or Walmart. But others also give you the option to receive PayPal or check payments.

The cash back may be for a specific product (sometimes even in a particular size or quantity). But you may also see generic cash-back offers, such as scanning any receipt or buying any product from a certain brand.

For more options, read our article on cash-back rewards apps.

3. Always Get the Deal

If you can, never pay full price for anything you buy. Most everyday necessities, from soap to detergent and lightbulbs to kitchen gear, will go on sale at some point. The key is timing your purchases so you only buy stuff when it’s discounted.

There are a few ways to get a deal when you shop. If you mostly buy online, it can be worthwhile to install a browser extension, such as Honey or Capital One Shopping.

The extensions browse the Web and alert you if a coupon is available or the product you’re looking at is available for a lower price somewhere else. Some, like CamelCamelCamel, also track prices (though this one is only for Amazon).

If you prefer to shop in person, those snail mail or online weekly sales flyers are your friends. Review the flyers each week to see what’s on sale as you make your shopping list.

Just as you’d base your grocery list on a meal plan heavy on sale ingredients, compare your spending habits, including how often you usually buy essentials, to what’s on sale. For example, if your brand of dish soap is on sale now and you know you’ll need it in a few weeks, jump on the deal now.

4. Make Smart Bulk Buys

If you use something regularly, have the room to store it, and can save money by buying it in bulk, go for it. For example, buying paper products in bulk often makes sense because they don’t expire and you’re sure to use them.

When I moved into my own place, I ordered a bulk pack of 48 toilet paper rolls online. The price worked out to be much cheaper than buying a four- or six-pack from the store, and it will be a while before I have to think about buying TP again.

Another way to economically buy in bulk is to use a service like Amazon Subscribe & Save. You buy a product you regularly use, like toilet paper, paper towels, or room deodorizer and pick a delivery schedule.

Your schedule can be as often or as seldom as you need, and you can change the schedule if it doesn’t work for you. Amazon sends you an email before it ships your goods, meaning you can always cancel it if you realize you don’t need it.

But the best part is you get anywhere from 5% to 20% off each shipment, depending on what the product is and how many subscriptions you have. The more subscriptions, the more subscriptions, the more you save.

You can also use the service for products you don’t need to buy in bulk.

For example, you can schedule a single laundry detergent bottle to arrive each month. Or you can schedule maintenance supplies like air conditioner and water filter replacements to come during the recommended replacement window.

Another option for bulk buying is a members-only warehouse store such as good old Costco or Sam’s Club. But they charge annual membership fees, so they’re only worth it if you shop there frequently.

For example, a Costco membership will set you back between $60 and $120 per year. But you also get access to tremendous savings. The retailer is known for selling enormous sizes of things like detergent, shampoo, and bandages but also offers great deals on almost everything else.

Before buying in bulk, check to ensure it will actually save you money. You can compare prices by looking at the unit price listed on the tag on the shelf. But you should check these numbers frequently or if something seems off. There’s anecdotal evidence they’re sometimes incorrect.

If there’s no unit price listed, you can do the math yourself by dividing the price by the quantity in the case of countable goods like sponges or the weight (usually ounces or pounds) in the case of products sold by weight, such as laundry detergent.

For example, if a 48-ounce bottle of dish soap is $9.99, it costs about $0.20 per ounce. If a 16-ounce bottle of the same product costs $2.88, its unit price is $0.18 per ounce, meaning you can save money by purchasing three 16-ounce bottles compared to one 48-ounce bottle.

5. Skip the Name Brand

When you buy name-brand batteries, lightbulbs, or tissues, what are you paying for? Often, it’s prettier packaging and marketing but not necessarily a higher-quality product.

Many stores have their own private label for household necessities, and you’re likely to save if you buy store-brand versus name-brand products.

One category where it makes especially good sense to buy generic or store brands is medicine.

All medications have to be reviewed and approved by the United States Food and Drug Administration before they end up on store shelves. And generics must legally be identical to their name-brand counterparts to be approved.

So a store-brand aspirin helps reduce your headache pain just as well as a branded aspirin. A store-brand allergy pill reduces your allergy symptoms just as much as the name brand.

Switching to generic medicines can save you a pretty penny. They often cost pennies on the dollar compared to branded products.

6. Keep Things Simple

You can save money by buying fewer products if you buy all-purpose rather than specialized ones. For example, ask yourself if you really need separate bathroom, kitchen counter, and sink cleaners. The odds are likely you can use a single cleaning agent on all those surfaces.

7. Get Stuff for Free

The world is drowning in stuff. If you live in a populated area, someone you know probably has something you need, meaning you don’t need to buy it.

There are many ways to get household goods and pretty much anything else for free. For example, you can join a local buy-nothing group. The groups are limited to people in particular geographic areas and designed to foster communication and community among neighbors.

You can post to the group describing what you’re looking for, and if someone nearby has it and is willing to part with it, they can give it to you. People also post things they’re giving away.

Craigslist also has a free section. Some people also list things they no longer want on Nextdoor, a social networking app designed to connect people based on their location.

It’s surprising the types of things people give away on these platforms. They regularly post various household goods like cleaning products, nails and screws, and vacuum bags. There are also some big-ticket items, like window air conditioners, cellphones, or furniture.

It’s not as strange as it sounds. Someone may find that an otherwise perfectly good cleaning product isn’t suitable for their needs after using it once. Or perhaps they had to replace a broken vacuum cleaner and no longer need the bags.

If you want to get more personal, you can arrange a swap with friends. You can swap kitchen gadgets, cleaning or gardening tools, or even consumables like sponges or furniture polish. Just because one person decided they no longer want or don’t like a product doesn’t mean it isn’t just right for someone else.

8. Borrow or Rent Infrequently Used Tools

There are some things you need infrequently for projects around the house but don’t want to buy. If possible, see if you can borrow or rent them instead. Some examples of tools worth borrowing or renting include specialized cleaning tools, such as carpet cleaners or floor buffers.

Tool-lending libraries have become popular in certain areas. They give you access to equipment you only need from time to time, like a drain snake or shop vacuum. Some even lend everyday tools like push brooms or extension cords.

Your local public library may also lend more than just reading materials, including household goods. For example, branch locations of my local library, the Free Library of Philadelphia, allow people to borrow nontraditional materials like cake pans.

Beyond lending libraries, a friend or relative might have something you need. Ask them to let you borrow it. Just make sure to return it in the same condition you borrowed it in.

Craigslist, Nextdoor, or Facebook groups can also help you find tools to borrow. Just create a post on your site of choice describing what you’re looking for.

If no one you know has the equipment and you don’t have a lending library available, you can often rent seldom-used cleaning tools. For example, many supermarkets and hardware stores rent out carpet cleaners or power tools.

The rental cost is usually a fraction of the equipment’s purchase price, depending on the length of the rental and how often you plan to rent one. You can cut the rental cost even more by splitting it with friends or neighbors.

9. Reuse or Replace Single-Use Products

Some products sold as single-use don’t have to be. For example, you can wash and reuse zip-close bags. Just remember good food safety practices when deciding whether or not to reuse a plastic bag. If it previously held raw meat or something that molded or rotted, your safest bet is to start fresh.

You probably don’t want to reuse any single-use product too many times. But even if you get just two uses rather than one, you’re effectively cutting your expenditures in half.

When you replace your toothbrush with a new one, don’t just chuck it in the trash. Wash the bristles and give it a second life as a grout scrubber or brush to clean hard-to-reach areas, such as around the tub faucet.

If you don’t own a squeegee and want to get away from using paper towels, yesterday’s newspaper is very effective at cleaning windows. If you don’t subscribe to a physical newspaper, pick up a free copy of something like the Pennysaver the next time you’re at the grocery store.

Along with reusing single-use items, you can save money by purchasing reusable versions. For example, you can buy:

Beeswax wraps instead of throwaway plastic wrap
Cloth napkins instead of paper
Washable dishcloths and microfiber towels instead of throwaway sponges or paper towels

Instead of purchasing plastic or glass food storage containers, save money by washing and reusing glass jam jars, spaghetti sauce jars, and plastic yogurt cups. You can use these containers to store cut veggies, collect coins, or sort small items like screws and push pins.

10. Make Your Own

Sometimes, you can save serious money by making your own household products instead of purchasing them. Baking soda, distilled white vinegar, hydrogen peroxide, and lemons are the workhorse ingredients of DIY cleaners. They all cost way less than you’d spend on a spray bottle of window or all-purpose cleaner.

Other household goods you can make yourself include:

Cloth napkins
Pillowcases
Handkerchiefs
Laundry detergent
Notebooks

11. Make It Last

If you’re frequently spending money to replace reusable supplies that wear out before their time, learning how to take better care of things can help you cut costs. Likewise, consumables like dish soap and cleaning supplies should last longer than they do for many people.

Several strategies can help you get the most use out of everything you buy.

Read the Care Labels. Washing textiles like bedding and towels as the manufacturer recommends can ensure they last. For example, some fabrics need to be washed in cold water to keep their colors from fading. Cold water also costs less than hot.
Figure Out How to Fix Stuff. Learn to do basic mending and repair. Fixing what you already own, whether it’s a dish towel or vacuum cleaner, helps you get months or years more use out of them.
Keep Things in the Right Spot. Humid or sunny spots can cause your possessions to fade or wear out quickly. Look at a product’s packaging to see if it has storage recommendations. For example, you should keep most cleaning and bath products in a cool, dark area.
Only Use What You Need. Apply cleaning products to the sponge or cloth to ensure you don’t dispense more than you need. Dilute them with water if you can. For example, Dawn dish soap is ultra-concentrated. You don’t need it at full strength to do lightly soiled dishes.

Final Word

Other than a few major appliances, the cost of household supplies can seem small, but it adds up over time. Finding ways to trim those expenses can help you focus on saving for your big financial goals or splurge on something fun.

One way to visualize your savings is to put the money you save in a dedicated savings account. Opt for a high-yield savings account so you earn money on top of every penny pinched.

Then, pick a relatively small but extravagant goal to save for. It should be something you’re excited about, but nothing too costly. You’re just saving pocket change here, after all. For example, save for an expensive date-night restaurant or a movie projector and outdoor screen rather than a European vacation.

Once you reach your goal, set another one to inspire you to keep saving.

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Amy Freeman is a freelance writer living in Philadelphia, PA. Her interest in personal finance and budgeting began when she was earning an MFA in theater, living in one of the most expensive cities in the country (Brooklyn, NY) on a student’s budget. You can read more of her work on her website, Amy E. Freeman.

Source: moneycrashers.com

January 2, 2022

Chase Bank Review 2022: Checking and Savings Accounts

The following is a closer look at two Chase Bank savings programs.
APY
Link to Chase checking account for overdraft protection
Chase Total Checking
Key Features

Chase Bank at a Glance

Chase Premier Plus Checking
a month; can be waived
Monthly fees
The monthly service fee for the Chase Sapphire checking account is a month. However, it can be waived with an average daily balance of ,000 in qualifying Chase accounts.

Pro Tip
You’ll get locked into an interest rate based on the length of your term and the amount of your CD. These rates vary from 0.02% to 0.05%*, and depend on both how much money you save and the length of your CD term. Right now, an amount between K and ,999.99 will earn 0.05% on a 12-month term.

Chase Checking Accounts

The Chase Savings account come with an autosave option that’s pretty cool. Using the mobile app, you can set your account to transfer a set amount of money every time you get paid, a little every day, or any set time and amount that you like. It puts your savings on autopilot.

Chase Total Checking

Chase Savings Accounts at a Glance

Chase Checking at a Glance

None

Auto-save tool
Access to 4,700 branches
$25 opening deposit required

n/a
, can be waive with ,000 balance
None
APY

Prime perk

You can get slightly better interest rates with the Chase Premier Savings account than the basic checking account. You’ll earn anywhere from 0.02% to 0.05%* when you link your account to another select Chase account, depending on how much money you have saved. The more you have in there, the better your interest rate. (But remember, you’ll get hit with a $25 monthly service fee unless you can keep a $15,000 minimum balance or you link to another Chase account.)
If you need a checking account for your small business, Chase has options to serve you here, too.

Account	Monthly Fees	Fee Details	Other Features
Chase Savings	$5	$300 balance to waive	$25 to open account
Chase Premier Savings	$25	$15K balance to waive	Or link to accounts

Account	Monthly Fees	Fee Details	Other Features
Chase Business Complete Banking	$15	$2K min. bal. to waive	Cash deposit limit
Chase Performance Business Checking	$30	Waived with $35K balance	250 monthly free trans.
Chase Platinum Business Checking	$95	$100K balance to waive	$25K monthly cash dep.