As the winter chill descends, homebodies might cozy up with a cup of hot chocolate. Travelers, meanwhile, may choose to indulge their sweet tooth with a full-fledged, chocolate-inspired vacation.
With the Dec. 15 release date of the movie “Wonka,” candy might be on America’s mind. Happily, you don’t need to win a golden ticket to get to experience one of America’s myriad chocolate factories, chocolate restaurants and even chocolate theme parks.
Here are six ways to have a zany, chocolate-inspired vacation in the U.S. this winter that are enough to impress Wonka himself.
1. Experience a chocolate theme park at Hersheypark
Hershey, Pennsylvania
Hersheypark is a 121-acre amusement park originally created by Milton S. Hershey as leisure grounds for employees of Hershey’s Chocolate Factory. Today, it has cuddly, walking versions of candy to meet, more than a dozen roller coasters and family-friendly rides. Plus with ticket prices under $100, it’s a lot cheaper than competitors like Disney or Universal.
Visiting in mid-November through the end of December is particularly delightful as the park transforms into Hersheypark Christmas Candylane, which includes a Christmas light show and a “Kissmass Tree” display (named for Hershey’s Kisses). This year, marks the 40th year of Hersheypark’s annual Christmas experience.
Note that Hersheypark closes from January through March for off-season maintenance, though there are plenty of other year-round activities to do in Hershey during those months. Those include a visit to one of the city’s two spas, both of which offer chocolate-themed treatments such as a cocoa facial. There’s also Hershey’s Chocolate World, which is adjacent to Hersheypark and remains open throughout the winter with activities like a chocolate tour and making your own candy bar.
2. Dine on savory chocolate meals at The Toothsome Chocolate Emporium
Universal CityWalk Orlando and Universal CityWalk Hollywood
The Toothsome Chocolate Emporium & Savory Feast Kitchen is a 19th-century, Victorian steampunk-inspired restaurant with an over-the-top facade that looks like it was designed by Willy Wonka himself.
The chefs have managed to sneak chocolate into even stereotypically savory dishes, including fresh chocolate almond bread paired with salted caramel butter, and flash-fried chicken wings coated in a chocolate stout glaze.
You’ll find the restaurant in Florida and California, as it’s a staple of Universal CityWalk, which is the pedestrian-only, free-to-visit entertainment complex affiliated with Universal Studios theme parks.
3. Drink a candy cocktail at Sugar Factory
More than two dozen cities worldwide
Sugar Factory is a U.S. brasserie with a large menu of milkshakes, burgers, ice cream and more. But its most iconic feature is the bar that makes candy-infused cocktails, which are served in oversized goblets. Drinks can be made with or without alcohol, and they include lavish garnishment like gummy flamingoes to top the piña colada and lollipops stuffed into the peach lemonade. Drinks run about $40 each, but one beverage could easily serve a small group.
Sugar Factory has more than two dozen locations worldwide, primarily in tourist centers such as the Las Vegas Strip, Minnesota’s Mall of America and Times Square in New York City.
4. Take sweet selfies at interactive art galleries and museums
Cities nationwide
In recent years, there has been a growing trend of sweet, interactive art galleries that are designed with the selfie set in mind. Among those open now is the Sweet Tooth Hotel in Dallas. It’s definitely not a hotel, but rather an interactive art museum featuring rooms designed by different artists — most of which put candy at the forefront.
Also in the vein of the sweet selfie-centric museum comes the Museum of Ice Cream, which runs in major cities including Austin, Texas, Chicago and New York. Standout exhibits include a waterless pool filled with 100 million sprinkles made of antimicrobial, biodegradable material that visitors are allowed to “swim” in (but not eat, as these sprinkles aren’t edible).
5. Visit one of three chocolate locations at Ghirardelli Square
San Francisco
Nestled on the waterfront in San Francisco‘s Fisherman’s Wharf, Ghirardelli Square originally housed a chocolate factory established by Domenico “Domingo” Ghirardelli.
Today, the square is home to shops, restaurants and art galleries, as well as three outposts of Ghirardelli. Those three storefronts include the original ice cream and chocolate shop, a larger, more elaborate Chocolate Experience, as well as a quick, on-the-go shop.
6. Enter a hot chocolate race
Nearly two dozen cities nationwide
If you’ve filled up on carbs and are ready to put them to use, you might enter the Hot Chocolate Run. This series of 5K, 10K, and 15K races are held in nearly two dozen cities across the U.S., generally in the winter. The routes are centered around tourist attractions, like Chicago’s Navy Pier and Nashville’s Bicentennial Capitol Mall State Park. Participants who finish the race receive not just a medal, but also a keepsake mug filled with chocolate treats.
The races are typically held in tourist-friendly cities, and the races themselves can be tourist attractions. Participants can join in a post-run party, but anyone can attend the Hot Chocolate Expo, which is held ahead of the event and also promises plenty of chocolate.
How to maximize your rewards
You want a travel credit card that prioritizes what’s important to you. Here are our picks for the best travel credit cards of 2023, including those best for:
A checking account is one of the most useful items you can have in your financial toolbox. You can use a checking account to pay bills, get paid early with direct deposit, or build your savings through automatic transfers.
However, it’s possible you’re not getting the most out of your account. Recognizing some of the most common mistakes you’re making with your checking account could help you to save money and time.
Ready to optimize this aspect of your financial life? Read on to learn:
• Common mistakes you’re making with your checking account
• Tips for improving your banking habits
Why Banking Mistakes Can Be Costly
Making mistakes with your bank account could cost you in more ways than one. It’s possible that you’re overpaying bank fees unnecessarily, missing out on valuable interest earnings, and possibly leaving yourself vulnerable to fraud. You may also be short-changing yourself and missing out on benefits and features if you’re using the wrong type of bank account for your needs.
Here’s why these issues can cost you:
• High fees are generally not a good thing, as they can nibble away at your balances over time.
• Losing out on the best interest rates means your money has less room to grow.
• Fraud can potentially be the biggest drain on your accounts, if your debit card or bank account is used to make unauthorized withdrawals or purchases.
The good news is that it’s relatively easy to get back on track. That starts with knowing which checking account mistakes to avoid. You’ll learn about them next.
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Open a SoFi Checking and Savings Account and start earning up to 4.50% APY on your cash!
11 Checking Account Mistakes to Avoid
Managing a checking account shouldn’t be complicated. Here are 11 of the biggest checking account mistakes that you’ll likely want to sidestep.
1. Not Shopping Around
Sticking with the same bank for years may be comfortable, but it doesn’t necessarily mean you’re getting the best deal. It’s a mistake not to shop around for better banking options, as banks regularly introduce new benefits and features to attract customers.
It’s also incorrect to assume that switching banks is time-consuming or difficult. Many banks offer switch kits that help to simplify the process of transitioning your accounts over. These kits include a checklist of steps to complete to get your new accounts open and shut down your old ones if you choose to do so.
2. Overlooking the Benefits of Online Banks
How you use your checking account matters but it’s also important to consider where you keep it. Online banks can offer benefits you don’t always get at traditional banks or credit unions, such as lower fees or higher interest rates for deposit accounts. These two features could help you build wealth.
Opening an online checking and savings account is usually something you can do in just a few minutes. The trade-off of choosing an online bank is that you don’t have branch banking access. Comparing online banking pros and cons can help you to decide if it’s right for you.
3. Paying a Monthly Maintenance Fee
Banks can charge monthly maintenance fees for having a checking account. In some cases, you might pay these fees for savings and money market accounts as well. Paying these fees is a mistake if there are ways to get around them.
Your options for avoiding monthly maintenance fees might include:
• Meeting a daily or monthly minimum balance requirement
• Scheduling a qualifying recurring direct deposit
• Maintaining a minimum balance across multiple linked accounts at the same bank
• Making a certain number of purchases with your debit card each month
You could also avoid monthly maintenance fees by moving to an online bank. Online banks tend to be more fee-friendly than traditional banks, and you could earn a higher rate on interest-bearing accounts as well.
4. Triggering ATM Fees
Here’s another common mistake you may be making with your checking account: When you need quick cash, you hit the first ATM you come across. Convenient, yes, but that’s a problem if your bank charges ATM fees.
What are ATM fees? They’re fees you pay to use another bank’s machine. Typically, your bank won’t charge if you use their ATMs. But they might tack on a foreign ATM surcharge if you use a machine that’s out of the bank’s network. The ATM owner can also charge a fee of their own. Typically, out-of-network ATM fees will cost you between $2.50 and $5 per transaction and possibly even more.
Knowing where you can withdraw cash fee-free is a simple way to avoid that mistake. You might also consider looking for a bank that reimburses foreign ATM fees each month. Some banks offer reimbursement, either as a flat dollar amount or up to a certain number of foreign ATM fees per month.
5. Not Keeping Enough in Your Account
Maintaining a lower balance in your checking account isn’t necessarily a bad thing, but it could put you at risk of incurring overdraft of non-sufficient funds (NSF) fees.
Banks can charge overdraft fees to complete transactions when you don’t have enough money in your account. Non-sufficient funds fees may apply when you don’t have enough money in your account and the bank cancels or rejects the transaction.
In terms of how much you’ll pay for NSF vs. overdraft fees, that depends on the bank. However, it’s not uncommon for banks to charge anywhere up to $40 for these fees.
You could avoid overdraft fees by enrolling in overdraft protection. What is overdraft protection? It’s a service that allows banks to transfer money automatically from your savings account to checking if you’re in danger of overdrafting your account. You can avoid high overdraft fees by opting in, though banks may charge a smaller transfer fee.
6. Keeping Too Much Money in Checking
Keeping too much money in checking could also be a mistake if you’re missing out on interest earnings. Siphoning off some of the money in checking into a high-yield savings account or money market account, for example, could allow you to earn a competitive interest rate and APY on your balances.
It’s also important to consider how FDIC coverage limits apply to checking accounts. The Federal Deposit Insurance Corporation insures deposits up to $250,000 per depositor, per account ownership type, per financial institution. If you keep more than that in checking, you could be at risk of losing money in the rare event that your bank fails.
7. Choosing a No Frills Checking Account
A basic checking account should have all the features you need to pay bills, deposit money, or make purchases with a linked debit card. But a specialty account could offer a wider range of benefits.
For example, a high-yield checking account earns interest on balances. That’s like getting free money just for keeping a balance in checking. You will, however, have to pay tax on the interest you earn at the end of the year.
8. Missing Out on Potential Rewards
Another checking account mistake to avoid is losing out on potential rewards and bonuses. What are reward checking accounts? These are bank accounts that reward you with points or cash back for completing certain activities. For example, you might earn rewards when you make a specific number of debit card purchases each month or link a savings account.
These accounts are similar to rewards credit cards but the difference is you’re spending your own money to earn them, rather than borrowing from the credit card company. They can offer you some nice perks as you conduct your usual banking business.
9. Not Protecting Your Account When You Shop Online
Shopping online is convenient and you might be able to save money versus shopping in store if you’re using promo codes or coupons at checkout. However, you could be putting your checking account at risk if you’re shopping over unsecured WiFi networks or making purchases on untrusted websites.
A simple way to verify a site’s authenticity is to look for “https” in the site’s address. That indicates the site uses a Secure Sockets Layer certificate to encrypt and protect user data.
You can also protect yourself by not storing your debit card information at the checkout. If you’d like to be able to automatically enter your debit card details to pay, you can add them to a secure mobile wallet like Google Pay, Apple Pay, or Samsung Pay.
10. Not Enrolling in Email and Text Alerts
There are different ways to keep track of your bank accounts, including online and mobile banking. If you don’t always have time to log in, you could use email and text alerts to monitor your accounts instead.
Banks can allow you to set up different types of alerts, including notifications for:
• Low balances
• New credit transactions
• New debit transactions
• Updates to your personal information or login information
• New linked accounts
• New wire transfer transactions
• Failed login attempts
Not using alerts can be a mistake as it can save you time as you manage your financial life.
Enrolling in alerts can also help you to spot potentially fraudulent activity before someone is able to do any major damage with your account.
Recommended: The Biggest Money Scams in the U.S.
11. Using Weak Passwords
Your password is your entry key to your online and mobile banking accounts and it’s important to choose a strong one. The stronger your password, the more difficult it might be for hackers to steal your information, and your money.
If you’re using weak passwords that are easy to guess, you could be leaving yourself open to fraud. It’s also a mistake to reuse the same passwords to log in to multiple accounts. If a hacker gets their hands on the password, they could have instant access to bank accounts, credit cards, investment accounts, email accounts, and any other accounts you manage online.
Choosing strong passwords and updating them regularly can help you avoid that scenario. If you have trouble remembering passwords, you might consider storing them online in a secure password keeper.
Ways to Improve Your Banking Habits
Building better habits can take time, but it may be well worth the effort if you’re able to avoid making common checking account mistakes. Here are a few ways to improve your banking habits:
• Check your accounts regularly. Logging in to your bank accounts once a day or every few days is a simple way to check your transaction history and balances so you know what you have to spend.
• Sign up for alerts. Banking alerts can help you to spot potential fraud, track your balances, and know what’s being debited or credited to your account. It’s typically free to enroll, and you can personalize which alerts you want to receive.
• Maintain a buffer. Getting in the habit of maintaining a cash cushion in your checking account can help you to minimize your risk of overdraft. For example, you might want to keep an extra $500 to $1,000 in your account at all times and not let your balance fall below that amount.
• Review your accounts. Reviewing your checking account once a year can be a good way to see what you’ve paid in fees and what benefits you’ve enjoyed. You can then use that as a guide for deciding whether to stick with your current bank or shop around for a new one.
Recommended: Guide to Practicing Financial Self-Care
The Takeaway
Having a checking account can make managing your financial life easier, but it’s important to make sure you’re using it the right way. Avoiding common checking account mistakes and developing good banking habits can help you use your account to its full potential. Doing so can also help you earn more interest and pay fewer or lower fees.
If you’re ready to try a new banking experience, you might consider opening an online checking and savings account with SoFi. You can enjoy the convenience of saving and spending in one place, plus you’ll get benefits like paying no account fees and enjoying a great APY on deposits, which can help your money grow faster.
Better banking is here with up to 4.50% APY on SoFi Checking and Savings.
FAQ
What is the worst checking account mistake that I need to avoid?
The worst checking account mistake may simply be choosing the wrong account or the wrong bank. When you fully understand what you need a checking account for and what kind of features you’d like to have, that can make it easier to find the right banking option that’s convenient and low-cost.
What to do if the bank makes a mistake?
If your bank makes a mistake with a deposit, bill payment, or any other transaction, it’s important to contact the bank right away. You can explain what you believe the mistake to be so the bank has an opportunity to correct it.
What are the disadvantages of these banking mistakes?
Making banking mistakes can cost you both time and money. You may end up spending more time than you’d like to managing your accounts. Or you might overpay banking fees if you’re not paying attention. Correcting any banking mistakes can help you avoid those scenarios.
The SoFi Bank Debit Mastercard® is issued by SoFi Bank, N.A., pursuant to license by Mastercard International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.
SoFi members with direct deposit activity can earn 4.50% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. Direct Deposit means a deposit to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Direct Deposit”) via the Automated Clearing House (“ACH”) Network during a 30-day Evaluation Period (as defined below). Deposits that are not from an employer or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, do not constitute Direct Deposit activity. There is no minimum Direct Deposit amount required to qualify for the stated interest rate.
SoFi members with Qualifying Deposits can earn 4.50% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Qualifying Deposits means one or more deposits that, in the aggregate, are equal to or greater than $5,000 to an account holder’s SoFi Checking and Savings account (“Qualifying Deposits”) during a 30-day Evaluation Period (as defined below). Qualifying Deposits only include those deposits from the following eligible sources: (i) ACH transfers, (ii) inbound wire transfers, (iii) peer-to-peer transfers (i.e., external transfers from PayPal, Venmo, etc. and internal peer-to-peer transfers from a SoFi account belonging to another account holder), (iv) check deposits, (v) instant funding to your SoFi Bank Debit Card, (vi) push payments to your SoFi Bank Debit Card, and (vii) cash deposits. Qualifying Deposits do not include: (i) transfers between an account holder’s Checking account, Savings account, and/or Vaults; (ii) interest payments; (iii) bonuses issued by SoFi Bank or its affiliates; or (iv) credits, reversals, and refunds from SoFi Bank, N.A. (“SoFi Bank”) or from a merchant.
SoFi Bank shall, in its sole discretion, assess each account holder’s Direct Deposit activity and Qualifying Deposits throughout each 30-Day Evaluation Period to determine the applicability of rates and may request additional documentation for verification of eligibility. The 30-Day Evaluation Period refers to the “Start Date” and “End Date” set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the “30-Day Evaluation Period”). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. Upon receiving a Direct Deposit or $5,000 in Qualifying Deposits to your account, you will begin earning 4.50% APY on savings balances (including Vaults) and 0.50% on checking balances on or before the following calendar day. You will continue to earn these APYs for (i) the remainder of the current 30-Day Evaluation Period and through the end of the subsequent 30-Day Evaluation Period and (ii) any following 30-day Evaluation Periods during which SoFi Bank determines you to have Direct Deposit activity or $5,000 in Qualifying Deposits without interruption.
SoFi Bank reserves the right to grant a grace period to account holders following a change in Direct Deposit activity or Qualifying Deposits activity before adjusting rates. If SoFi Bank grants you a grace period, the dates for such grace period will be reflected on the APY Details page of your account. If SoFi Bank determines that you did not have Direct Deposit activity or $5,000 in Qualifying Deposits during the current 30-day Evaluation Period and, if applicable, the grace period, then you will begin earning the rates earned by account holders without either Direct Deposit or Qualifying Deposits until you have Direct Deposit activity or $5,000 in Qualifying Deposits in a subsequent 30-Day Evaluation Period. For the avoidance of doubt, an account holder with both Direct Deposit activity and Qualifying Deposits will earn the rates earned by account holders with Direct Deposit.
Members without either Direct Deposit activity or Qualifying Deposits, as determined by SoFi Bank, during a 30-Day Evaluation Period and, if applicable, the grace period, will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances.
Interest rates are variable and subject to change at any time. These rates are current as of 8/9/2023. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet..
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.
Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.
Ready to get started investing but not sure where to start? We’ve compiled a list of the best online stock brokers for beginners that we recommend for 2023.
Whether it is customer service, affordability, or platform versatility, each of these online brokers shines in its own way.
Be sure to compare the most important differentiators, such as trading costs and account minimums before you make your choice. As a beginner, you may also place more value on educational resources and customer support while you’re still learning the ropes.
6 Best Online Stock Brokers for Beginners
Robinhood
Robinhood is aptly named, offering commission-free stock and ETF (exchange-traded funds) trades. Not just some of the time—all the time.
On top of this, they don’t have an account minimum. If you want to get started trading, there’s no reason to wait. Robinhood also offers fractional shares.
Robinhood has a great mobile app team. It’s so good there’s no reason for you to ever hop on a PC. It takes new investors five minutes to set up and only an hour for them to activate your brokerage account.
By industry standards, that’s pretty fast. (Keep in mind this is a brokerage account, not a Twitter account you’re setting up.)
When you transfer $1,000 to Robinhood, it is available immediately for you to invest. If you upgrade to Robinhood Instant (a free upgrade), any proceeds you make from selling stocks or ETFs can be immediately used to buy stocks or ETFs elsewhere.
Read our full review of Robinhood.
Merrill Edge
Merrill Edge is a great option for beginning investors. You can open an account with $0 minimum investment. They also offer excellent customer service, strong education and research, and low fees.
You can get unlimited free online stock, ETF, and options trades with their Preferred Rewards program, or pay just $2.95 per trade with no trade or balance minimums.
Merrill Edge offers flexible tools with customizable features and the best part is they are there to guide you step-by-step.
They have dedicated advisors who will work with you one-on-one to help you build a comprehensive financial strategy.
Their advisors can give you recommendations based on your needs to help you grow and preserve your wealth.
If you prefer to meet with them in person, Merrill Edge has over 2,000 Bank of America locations where an advisor will be more than happy to work with you.
Charles Schwab
There are only a few online brokers out there where we can honestly say are well suited for both beginning and advanced investors, but Charles Schwab is one of them. It has the tools to satisfy anyone, no matter their level of expertise.
Are ETFs your thing? Charles Schwab offers over 200 commission-free ETFs. Are you an absolute beginner? Schwab objectively selects what it believes to be the best ETF in every category, so you don’t have to go down rabbit holes of information and research.
On top of this, if you are just starting to build your portfolio, Schwab also offers recommendations based on your chosen risk tolerance. Take the safe road and know that your money is in good hands.
If you need to speak with a representative, you may do so no matter the time of day, via phone or online chat. That said, Schwab is a full-service broker that has a pretty large brick and mortar presence. You can schedule an appointment to speak with a representative or attend invaluable workshops.
A downside to Schwab is that they do have an account minimum. While several online brokers we’ve discussed require no account minimums, Schwab does require that its investors maintain at least $1,000 with them.
If you don’t have that, you can have the minimum waived when you sign up for an automatic monthly deposit of $100.
Vanguard
Perhaps one of the best online stock brokers for low-cost investing, Vanguard is frequently utilized by buy-and-hold and retirement investors with high account balances.
Its expense ratios on index funds and ETFs are quite below the national average, so it is the go-to broker for long-term investors.
Retirement-minded investors can find many resources with Vanguard through its website. They list safe and healthy investment options that promise long-term growth.
It also gives helpful hints on where you should prioritize your time and energy if you’re just getting started.
They also have a sophisticated program that can estimate when you’ll be able to retire and can help calculate your monthly expenses (sudden or otherwise) once you do.
If you have some money to invest, you can save by choosing Vanguard. For brokerage accounts with at least $50,000, trades only cost $7 regardless of how big they are. When the brokerage account hits $500,000, trades only cost $2. When it surpasses a million dollars, many trades become free.
Want to make active trades? Keep looking.
If you’re an active trader and don’t have nearly that amount of money lying around, however, Vanguard isn’t the best stock broker. It doesn’t have any software to support its traders (meaning there aren’t any trading tools or platforms to utilize).
Furthermore, investors who frequently trade (say, more than 25 times a year) are penalized with fees (assuming, of course, they don’t have $1 million invested with Vanguard).
Fidelity
With low $4.95 commissions per trade, Fidelity is one of the most affordable online stock brokers, considering what it offers to its customers.
Utilizing top-notch research from over 20 companies, Fidelity provides its investors with some of the best investment advice that money can buy.
It could be a lot of information to wade through, but after a few quick questions, Fidelity can match you up with providers that resonate with your personal investment style.
Though it’s not considered the best customer support in the industry, Fidelity still offers some pretty sharp service for its customers. Investors can meet with representatives in physical branch locations, as well as attend investor seminars throughout the year for free.
The seminars cover a wide array of topics, such as Social Security and technical analysis. Plus, if in person doesn’t appeal to you, you can still study and expand your knowledge via webinars.
Looking for a solid online broker? Fidelity is truly among the best.
It offers both online and mobile support, and if you are an active trader, you can even get real-time feeds displayed on your desktop. Each trading platform is intuitive and easy to use and provides tools to help you get a leg up on your competition.
For those interested, Fidelity also offers a premium tool called Wealth Lab Pro, which offers customizable strategies and 20 years of historical data.
Ally Invest
If you’re a seasoned investor, you may never have heard of Ally Invest, but its newness to the scene shouldn’t make you discredit it.
In 2016, Ally invest bought out TradeKing and has only recently emerged into the online brokerage game. That said, it’s quickly become very clear that everything that was great about TradeKing has only gotten better.
Ally offers automated portfolio management and forex trading. There is no account minimum, commissions on trades are $4.95.
Are you a frequent investor?
Ally Invest offers discounts to members who trade 30 or more times per quarter. At that point, the fee drops to $3.95.
Whether you use a PC or a smartphone, Ally has a great online stock trading platform for its users. Trade fast, get current, 24-hour quotes and data, make your own unique dashboard, and get a diverse set of trading tools at your disposal.
Here are some of our favorite helpful features:
Profit-and-loss calculator
Maxit Tax Manager, which informs you of any changes to your taxes based off of trades
Probability calculator to tell you of the likelihood of your desired targets for each share
Worried about trading from work? Don’t be. Ally Invest’s web platform doesn’t require you to download anything.
Simply log in and you are ready to trade. Considering everything they offer online, this is quite an achievement in and of itself.
Why Beginners Should Consider Online Stock Brokers
Diving into the world of stock trading can be both exciting and intimidating. As a beginner, you might have certain apprehensions, especially with traditional stock trading often being associated with experienced and wealthy individuals.
However, with the advent of online brokerages, the investment landscape has dramatically transformed, making it more accessible for everyone. So why should you, as a beginner, consider going the online route? Let’s break it down.
Leveling the Playing Field
Traditionally, stock trading was a complex system with many barriers to entry. It was time-consuming, requiring regular phone calls with brokers, and often demanded a substantial initial investment.
However, online stock trading platforms have simplified this process, allowing anyone with an internet connection to participate in the market. They’ve effectively democratized stock trading, enabling a broader demographic to engage in investment activities.
Cost-Effectiveness
Cost has been one of the biggest hurdles for beginners interested in stock trading. High brokerage fees were once a significant barrier to entry. Online stock brokers have dramatically reduced this burden by offering lower trading fees compared to their traditional counterparts.
Many even offer commission-free trades, which is especially beneficial for those who are just dipping their toes in the investment waters and may not have a significant amount to invest yet.
Flexibility and Control
With an online broker, you get the advantage of real-time trading from the comfort of your home, or anywhere else for that matter. You have more control over your trades, with the ability to review and modify your orders whenever you see fit. This flexibility can be a game-changer for beginners who are still learning the ropes and need the freedom to make adjustments as they see fit.
Access to Tools and Education
Most online brokers provide a wealth of resources to help you understand the stock market better. These resources often include educational articles, webinars, video tutorials, and even simulated trading environments. You can learn at your own pace, apply your knowledge in a risk-free environment, and then proceed with more confidence when you’re ready.
Busting the Myth: Stock Trading is Not Just for Experts
You might be thinking, “Sure, these benefits sound great, but isn’t stock trading still a field best left to the experts?” This is a common misconception, but it couldn’t be further from the truth. While knowledge and experience undoubtedly play a role in successful investing, the barrier to entry has significantly decreased with online brokerage accounts.
They’ve built platforms that cater to investors of all experience levels, with easy-to-use interfaces, educational content, and customer support to guide you through your investment journey. In fact, the rise of online trading has given birth to a new generation of investors who’ve started with little to no knowledge of the stock market.
Choosing Your Online Broker: Essential Criteria to Consider
Selecting an online broker as a beginner can seem daunting. However, by focusing on the right criteria, you can make a well-informed decision that suits your individual needs and goals. Here are the key factors you should consider when choosing your online stock broker.
User-Friendly Platform: Navigate with Ease
As a beginner, the last thing you want is to grapple with a complicated platform while trying to understand the intricacies of stock trading. Hence, a user-friendly interface is essential.
An intuitive platform will make navigation a breeze, allowing you to focus on your investment decisions rather than struggling with complex tools. Look for brokers that offer clear layouts, easy-to-find features, and streamlined processes for trading.
Educational Resources: Your First Step Towards Mastery
Education is paramount when you’re embarking on your investment journey. The best online brokers provide a variety of learning materials, including tutorials, webinars, articles, and even a glossary of trading terms.
These resources can help demystify complex financial concepts, making it easier for you to understand market trends and make informed decisions. Ensure the broker you choose places a strong emphasis on education and continuous learning.
Customer Support: Guidance When You Need It
No matter how user-friendly a platform is, you’re likely to encounter queries or issues that need resolution. This is where robust customer support comes in.
A good online broker should offer responsive, efficient, and friendly customer service, ready to assist you via multiple channels – be it phone, email, or live chat. Remember, as a beginner, having readily available support can be a significant confidence booster.
Fees and Commissions: The Impact on Your Investments
Even the smallest fees can add up over time and eat into your returns. So, it’s essential to understand the fee structure of any online broker you consider. This can include trading fees, account maintenance fees, withdrawal fees, and more. Many online brokers now offer commission-free trades, which can be particularly advantageous for beginners starting with a smaller investment.
Account Minimums: Barrier or Welcome Mat?
Some online brokers require you to deposit a minimum amount to start trading. This can be a hurdle for beginners who are looking to start small. Therefore, finding a broker with low or no account minimums can be a significant advantage when you’re just getting started. It allows you to dip your toes into investing without committing a substantial sum upfront.
Diverse Investment Options: The Power of Choice
While you might start with trading stocks, having a range of investment options can be beneficial as you grow and diversify your portfolio. Look for an online brokerage account that offers a variety of investment products, such as bonds, ETFs (exchange-traded funds), mutual funds, and more. Having these options at your disposal allows for more flexibility in your investment strategy.
Security: Safeguarding Your Investments
With the increasing number of cyber threats, security has never been more critical. You want to ensure that the online broker you choose uses top-tier encryption and security measures to protect your personal information and investments. This can include two-factor authentication, biometric recognition, and advanced encryption technologies.
Tips for Getting Started With Online Stock Trading
Stepping into the world of online stock trading can be thrilling. The possibility of seeing your money grow can be enticing, but it’s also crucial to approach this journey with a strategic and educated mindset. Here are some practical tips to get you started on the right foot.
Understand Your Investment Goals
Before you make your first trade, take some time to understand your investment goals. Are you saving for retirement, a down payment on a house, or your child’s college education? Having a clear idea of your goals will help you make informed decisions about the type of investments you want to make.
Start Small and Gradually Increase Your Investments
As a beginner, it’s wise to start small. You might be eager to dive in, but starting small allows you to get a feel for trading without risking too much. As you become more comfortable and experienced, you can gradually increase your investments.
Diversify Your Portfolio
Don’t put all your eggs in one basket. Diversification, or spreading your investments across a variety of assets, is a key strategy to manage risk. By diversifying your portfolio, you can protect yourself from significant losses if one of your investments underperforms.
Practice with a Demo Account
Many online brokers offer demo or “paper” trading accounts. These accounts allow you to practice trading with virtual money. It’s a great way to learn the ropes, try out different strategies, and understand the dynamics of the market without risking real money.
Keep Emotions in Check
Investing can be an emotional rollercoaster. The value of your investments can go up and down, but it’s crucial to stay calm and stick to your investment plan. Avoid making impulsive decisions based on short-term market fluctuations.
Develop a Disciplined Investment Strategy
Having a disciplined investment strategy means making thoughtful and researched decisions rather than chasing ‘hot’ tips or trends. This strategy involves regularly reviewing and adjusting your portfolio, reinvesting dividends, and not being swayed by market volatility.
Embrace Continuous Learning
The investment world is dynamic and ever-changing. Make an effort to learn continuously about different investment products, market trends, and trading strategies. Take advantage of the educational resources offered by your online broker.
Consult a Financial Advisor
While online stock trading can be done independently, consulting a financial advisor can be beneficial. They can provide personalized advice tailored to your financial goals and risk tolerance.
Frequently Asked Questions for Online Stock Trading Beginners
Here are some commonly asked questions that beginners often have when they’re starting out with online stock trading.
What is a brokerage account?
A brokerage account is an arrangement between an investor and a licensed brokerage firm that allows the investor to deposit funds with the firm and place investment orders through it. Essentially, it’s the account you use to make trades and hold your investments. The brokerage acts as the intermediary between you and the markets.
In a typical brokerage account, you can invest in a wide variety of securities, including stocks, bonds, mutual funds, and ETFs (exchange-traded sunds). There are also different types of brokerage accounts, like individual or joint accounts, retirement accounts, and education savings accounts, each serving different investment purposes and offering varying tax benefits.
Why should I consider online stock trading?
Online stock trading offers a host of benefits, including easy access to financial markets, lower transaction costs, real-time trading, a wealth of educational resources, and the ability to trade at your own pace and convenience.
How much money do I need to start online trading?
The amount needed to start online trading can vary greatly depending on the broker you choose. Some online brokers require minimum deposits, while others do not. It’s possible to start trading with a small amount, but remember that it’s crucial to only invest money that you can afford to lose.
What are the risks of online stock trading?
Like any investment, online stock trading comes with risks. The value of your investments can fluctuate based on market conditions, which can lead to losses. It’s also possible to lose money due to poor investment decisions. It’s important to educate yourself, develop a solid investment strategy, and consider diversifying your investments to manage these risks.
What is a stockbroker?
A stockbroker is a professional who executes buy and sell orders for stocks and other securities on behalf of clients. Online stock brokers offer platforms where you can conduct these transactions yourself.
How do online stock brokers make money?
Online stock brokers make money in several ways. Some charge commissions on trades, while others offer commission-free trades but may charge other types of fees, such as account maintenance fees or withdrawal fees. Some brokers also earn money from interest on cash in trading accounts or by lending out securities in margin accounts.
What is diversification?
Diversification is a risk management strategy that involves spreading your investments across various types of assets, such as stocks, bonds, ETFs, etc. The idea is to reduce risk by investing in different areas that would each react differently to the same event.
Is my money safe with online brokers?
Most reputable online brokers are members of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC), which provide certain protections for investors. However, while these protections can safeguard your money if the brokerage fails, they do not protect against losses from trading.
Rent prices are on the rise, with the average cost increasing 18% between 2017 and 2022. But buying a home requires a hefty down payment and good credit. Renting to own your home can give you the best of both worlds, but there are some downsides.
If you’re thinking about signing a rent-to-own agreement, it’s important to weigh the pros/cons of rent-to-own home deals. Here’s what you need to know before you sign on the dotted line.
What are rent-to-own homes?
When you own a home, part of your monthly payments goes toward paying off the principal. If you stay in the home long enough, you’ll own it.
The same doesn’t apply to rentals. Your monthly rent solely covers your costs of living in that home, whether it’s a condo, apartment, townhouse, or single-family house.
A rent-to-own home lets you pay rent to live on the property, with the option to buy it when the lease runs out. In some cases, a portion of your rent goes toward the purchase price, but that isn’t always the case.
How does rent-to-own work?
A rent-to-own agreement is essentially a lease agreement with an option to buy. Rent-to-own contracts should be read thoroughly. Those options can vary from one contract to another.
When you sign a rent-to-own contract, you pay an upfront fee called an option fee. This is typically 1 to 5% of the home’s purchase price, and it’s non-refundable.
It’s important to note that a lease does not relieve you of the requirements to buy a house. You’ll still have to qualify for a mortgage and make a down payment. It’s merely a way to buy yourself some time and possibly put some of your rent toward the purchase price of a home.
Lease Option vs. Lease Purchase
Before you sign, pay close attention to the lease agreement you’re signing. There are two types, and one contractually obligates you to buy the property.
Lease Option Agreement
A lease option agreement is the best deal of the two for you, the buyer. You’re signing a lease option contract that merely gives you first rights to the house when the lease is up. If you change your mind, find a better deal, or can’t qualify for a mortgage, you can find somewhere else to live and move your belongings out.
Since the option fee is nonrefundable, it’s important to note that you will lose money if you choose not to buy. Calculate this loss when you’re deciding whether to buy.
Lease Purchase Agreement
Unlike a lease option agreement, lease purchase agreements obligate you to buy at the end of the lease. Since it’s a contract, that means you’re legally obligated to purchase the house.
This can be risky for a couple of reasons. Once you’re in the house, you may see issues you didn’t notice when you were first touring the house. Things could change with the neighborhood or your circumstances that you couldn’t know at the outset.
But the biggest issue with a lease purchase contract could simply be that you aren’t eligible for a mortgage to buy the house. Make sure you know, up front, what penalties or liabilities you’ll face if you can’t buy the house when your lease is up.
Even though both agreements operate differently on your end, they do obligate the seller to give you the option to buy when your lease expires. This puts you in a position to own a home at a predetermined future date, giving you the opportunity to start planning.
Length of a Rent-to-Own Agreement
Rent-to-own contracts start with a lease period that can be up to five years but is usually less than three. The thought is that the rental period will give a renter time to qualify for a mortgage. During this time, you’ll work on building your credit, if necessary, and saving for a down payment.
In some cases, a rent-to-own arrangement could have renewal terms. That means if you reach the end of the lease and want more time, you can extend the lease. With this option, though, the property owner could increase your monthly rent or the purchase price.
Preparing for Homebuying
During your lease term, you’ll make each monthly rent payment in exchange for remaining in the house. But it’s important during that time that you work toward purchasing the house when your time is up. Here are some things to do to boost your chances of landing a mortgage once your lease expires.
Boost Your Credit Score
Your rent-to-own deal requires that you qualify for a mortgage once the term is up. To do this, you will need to meet the minimum credit score requirements. You can get a free copy of your credit report each year at AnnualCreditReport.com, but there are also credit monitoring services that can help you stay on top of things.
Although requirements can vary from one lender to the next, Experian cites the following credit scores as necessary to land a mortgage:
FHA: If you qualify, a Federal Housing Association loan will accept credit scores as low as 500.
USDA loans: Those who meet the requirements can qualify with a score as low as 580.
Conventional loan: Generally 620 or higher, but some lenders require 660 at minimum.
VA loans: Eligible military community members and their families can obtain loans with scores as low as 620.
Jumbo loan: These loans cover houses at a higher price, so you’ll need a score of at least 700.
Save for a Down Payment
In addition to a good credit score, you’ll need to put some money down on your new home. Down payment requirements vary by loan type, but it’s recommended that you put at least 20% down. That means if you’re buying a $200,000 home, you’ll need at least $40,000 by closing.
There are lower down payment options, but if you choose those, your mortgage payments will include something called private mortgage insurance. This will increase your monthly payment by $30 to $70 per $100,000 borrowed.
If you can’t save up 20%, you may qualify for an FHA loan, which requires as little as 3.5% down. Both VA and USDA loans have zero down payment options, and there are programs offering down payment assistance to those who qualify.
The best part about rent-to-own properties, though, is that some come with rent credits. With a rent credit, a percentage of your rent will go toward your required down payment. Calculate in advance how much you’ll have in that escrow account at the end of your lease to make sure you save enough to supplement it.
What are the pros of rent-to-own?
Rent-to-own homes can be a great option, especially during a tight housing market. If there’s a house you want to buy, but you can’t make a down payment or your credit isn’t where it should be, it could be a great workaround. Here are some of the biggest benefits of rent-to-own agreements.
Rent May Go Toward Purchase Price
Depending on the terms of the rental agreement, renting to own could help you work toward paying for the home. Instead of the full amount of your rent being pocketed by a landlord, a percentage of your rent could go toward the eventual purchase price. Before signing, pay attention to rent credits and try to negotiate the best deal possible.
The Purchase Price Is Locked In
When a landlord agrees to a lease option, the home’s purchase price is written into the contract. That price will typically be higher than what the market says it’s currently worth. This means if the U.S. housing market sees an unexpected increase, you’ll be buying the home for less than its value. Even if the market dips, once you purchase the house and remain there for a few years, you may be able to sell it at a profit.
You’ll Buy Extra Time
For many renters, the rent-to-own period provides time to qualify for a mortgage. If you’ve researched all the options and found you’re close but not quite there yet, a rental period could be just what you need.
Before you choose this option, though, take a look at your circumstances. If substantial existing debt and poor credit mean you won’t qualify, you may need more than the few years you’ll get with a rent-to-own agreement.
No Moving Necessary
Let’s face it. Moving can be a pain. You have to pack everything up, line up a moving truck and get help moving, and unpack your items once you’re in the new location.
With a rent-to-own agreement in place, you skip the hassle of moving. You’ve already been in that home, making monthly rent payments, for at least a couple of years. You’ll simply go through the closing process and switch from rent payments to mortgage payments.
What are the cons of rent-to-own?
If you can get a mortgage, that’s always going to be a better option than renting or leasing to own. But there are some instances where renting without the buy option could be better for you. Here are some things to consider.
Rent-to-Own Home Maintenance
Before you sign any lease agreement, it’s important to read the fine print. One thing to note, specific to own agreements, is who will be responsible for maintenance during the rent-to-own period. If you rent without the promise of eventual ownership, your landlord will take care of those costs. In some cases, rent-to-own agreements require the renter to handle all repairs.
But there’s an upside to handling repairs on your own. To your landlord, the property is technically yours. That means you likely will give it more TLC. Still, it’s well worth it to pay for a home inspection before you agree to a rent-to-own agreement. This will identify any serious issues that will need to be addressed before you buy.
Option Fee
One distinguishing feature of a rent-to-own property is the option fee. This is usually between 1 and 5% of the purchase price and is non-refundable. That means if you don’t ultimately qualify for a mortgage, you’ll lose that money.
Home Values Could Drop
Property values aren’t guaranteed. Your landlord estimates the value of the property, but if you’re in a rising market, you might get that home at a steal. While that’s good news for you, the reverse can happen. If housing prices drop substantially during that time frame, you could find yourself buying a property for more than it’s worth.
Contract Breaches Can Be Costly
Rental agreements are a legal obligation. If you don’t pay your rent, your landlord can evict you and keep your security deposit. But rent-to-own contracts bring an additional level of risk. Missed payments mean you could be evicted and lose all the money you’ve put in. That includes the upfront fee and any rent credit you’ve earned.
All that money will also be lost if you can’t qualify for a mortgage when your rental time is up. These agreements can give you some breathing room. However, if your low credit scores, income, lack of a down payment, or employment situation make you ineligible for a mortgage, you could be searching for another rental while losing everything you’ve paid on the lease-to-own home.
Steps to Buy a Rent-to-Own Home
Once you’ve decided renting to own is the route you want to take, you may wonder what to do next. The following steps can help you ensure you get the best deal in a rent-to-own agreement.
1. Find a Home
This is more challenging than it might sound, especially if you’re looking in a competitive real estate market. Rent-to-own homes are extremely rare, so you may have to find a home for sale and try to negotiate this type of setup.
Typically, homeowners become renters when they can’t sell their homes. This means your rent-to-own contract might be on a home that’s in a less desirable or convenient area of town. For someone whose home has been on the market for a while, being able to collect rent money with the promise of a sale in a few years can be a huge relief.
For best results, find a real estate agent who can help you track down a home and negotiate with the seller. The National Association of REALTORS® maintains a directory of real estate agents, but you can also ask for a referral or find real estate agents nearby who have brokered these types of deals recently.
2. Research the Home
Even if it’s tough to find a lease-to-own home in your area, don’t snatch up the first one you find. Crunch the numbers to make sure the rent and purchase price make financial sense for you. Look at the sale history of the home to verify that the owner’s estimated purchase price is somewhat within what the median home price will likely be when your lease expires.
3. Research the Seller
The seller needs to be looked into as well. This is even more important with rent-to-own agreements since this person will be your landlord for the entire lease period. If you see any red flags during your interactions with the seller, move on.
4. Choose the Right Terms
Before you make a real estate purchase, you would have a closing attorney review the documents. The same goes for a rent-to-own agreement. Run all the paperwork past a real estate attorney to make sure there’s nothing in the contract that will hurt you in the long run.
Your real estate agent should be able to negotiate the best terms for you, including how each rent credit will help you build equity and what happens at the end of the lease.
5. Get a Property Inspection
Any time you make a home purchase, it’s essential to know what you’re buying. The same is true for rent-to-own properties. A home inspector can check things out and make sure you aren’t purchasing a home with serious issues.
6. Start Preparing to Buy
Once you start making rent payments, it’s time to start preparing for your eventual home purchase. Chances are, you’ll have to make a sizable down payment on a home loan, so plan to have that ready. Also, keep an eye on your score with all three credit bureaus and make sure you’ll qualify.
A rent-to-own contract can be a good deal for both the buyer and the seller. It can give you time to save money and improve your credit score. A real estate lawyer should take a look at your contracts and make sure your best interests are protected.
Bottom Line
Rent-to-own homes present a unique option for potential homeowners. This approach offers the opportunity to enter the homeownership arena at a slower pace, allowing individuals to build credit, save for a down payment, and experience living in the home before making a final purchase decision.
However, the rent-to-own path isn’t free from drawbacks. Potential buyers should be wary of unfavorable terms, higher monthly payments, and the risk of losing money if they decide not to buy. Ultimately, like all significant decisions in life, choosing a rent-to-own option requires careful consideration and thorough research.
Frequently Asked Questions
Where can I find rent-to-own houses?
Rent-to-own houses can be found through specialized websites dedicated to these types of listings, local real estate agents familiar with the concept, or sometimes through classified advertisements in local newspapers or online platforms.
Can I find rent-to-own homes on Zillow?
Yes, Zillow does list rent-to-own homes. When searching for properties, you can filter the search results to show only rent-to-own options. However, availability may vary based on the region and market conditions.
How long is the typical rent-to-own contract?
The typical lease term ranges from one to five years, but terms can vary based on the agreement between the homeowner and tenant.
Do I have to buy the house at the end of the lease?
No, the decision to buy is optional. However, if you decide not to purchase, you may lose any upfront fees or additional monthly amounts set aside for the potential purchase.
Can the seller change the purchase price once set?
Generally, the purchase price is fixed in the initial agreement. However, some contracts may have clauses allowing price adjustments based on market conditions.
What happens if the property value decreases during the lease period?
If the home’s value decreases and you’ve agreed on a set purchase price, you could end up paying more than the current market value. It’s crucial to negotiate terms that protect your interests.
Who is responsible for repairs and maintenance?
The agreement should clearly outline these responsibilities. In most cases, the tenant bears the responsibility for maintenance and repairs during the lease term.
What’s the benefit of a rent-to-own agreement for sellers?
Sellers can generate rental income while waiting to sell, often at a premium. It also widens the pool of potential buyers, especially those who need time to improve their credit or save for a down payment.
How do property taxes work in a rent-to-own agreement?
In a rent-to-own scenario, the property taxes are typically the responsibility of the homeowner, as they still retain ownership of the property during the rental period. However, the specific arrangement can vary based on the terms of the agreement.
Some contracts may stipulate that the tenant pays the property taxes directly or reimburses the homeowner. It’s crucial for both parties to clearly understand and agree upon who will cover the property tax obligation before entering into a rent-to-own contract.
If I don’t buy, do I get a refund for the extra money paid?
Typically, the extra money paid above regular rent, often referred to as “rent premium,” is forfeited if you decide not to buy.
Is the rent in a rent-to-own agreement higher than usual?
Often, yes. A portion of the monthly rent may be used for the potential down payment or purchase price, making it higher than the average rent for similar properties.
What’s the difference between rent-to-own and mortgage?
Rent-to-own is an agreement where a tenant rents a property with the option to buy it at the end of the lease. No bank is involved initially, and the tenant isn’t obligated to buy. A mortgage, on the other hand, is a loan specifically for purchasing a property. The buyer borrows money from a bank or lender and agrees to pay it back with interest over a predetermined period.
Does rent-to-own hurt your credit?
A rent-to-own agreement, in itself, doesn’t usually affect your credit. However, if the homeowner reports late payments to credit bureaus, it could hurt your credit score. On the positive side, consistently paying on time and eventually securing a mortgage can benefit your credit.
What is another name for rent-to-own?
Rent-to-own agreements can go by various names, including:
Lease to purchase
Lease option
Rent-to-buy
Rent-to-purchase option
Lease purchase
Each of these terms represents the concept of renting a property with the potential option to buy it after a set period.
Are you wanting to invest in the stock market but don’t know where to start? You’re not alone. Buying stocks online is a simple process. But doing the research can be a bit overwhelming if it’s your first rodeo. But don’t fret. Read on for a step-by-step guide on how to buy stocks.
Mastering the Basics: A 4-Step Guide to Buying Stocks for Beginners
Embarking on your stock trading journey can be both exciting and overwhelming. With this concise 4-step guide, we’ll help you navigate the essentials of stock trading, from setting up a brokerage account to making informed decisions on stock purchases.
Step 1: Set Up a Brokerage Account
To buy stocks, you’ll need to apply for a brokerage account. With an online brokerage account, you can transfer funds into your account electronically from a linked bank account to fund any future investment orders. And upon making a purchase the stocks will remain in the account until you trade them.
Types of Brokerage Accounts
The basic types of brokerage accounts are:
Discount Broker
Common amongst online brokers
Similar to a do-it-yourself option with limited support
Minimal fees and commissions
Some don’t have a minimum deposit requirement
Full-Service Broker
Designed to help investors from start to finish with planning and execution of trading goals
Offers extensive support from financial advisers at brokerage firm
Commission or fee-based structure
When analyzing brokerage firms, you want to consider the following:
Minimum deposit requirement: if you’re just starting out, you may only want to invest a small amount to get your feet wet. Once you’re acclimated with buying and selling stocks online, you’ll beef up your stock portfolio. But until you reach that point, a discount brokerage with minimal fees and little to no deposit requirement may be best.
Short term goals: do you plan to hit the ground running? Do you need all the support you can get to maximize your investment in the shortest amount of time possible? If so, a full-service brokerage may be the better choice.
Some of the most popular online brokers include Ameritrade, Charles Schwab, E*Trade, Fidelity, Merrill Edge, Robinhood, and Vanguard.
Direct Stock Purchase Plan
Some publicly-traded companies also offer a direct stock purchase plan (DSPP), which allows you to buy stock from them. This is another way to buy stocks that require using online brokers. Instead, the company’s transfer agent manages the transaction.
Check Out Our Top Picks for 2023:
Best Online Stock Brokers for Beginners
Step 2: Evaluate Your Options
There are tons of individual stocks to choose from. So how do you narrow down your options and select the best fit for your financial situation? You can sift through mountains of financial data inundated with jargon you’ve never seen a day in your life.
A better idea: think about industries or businesses you have a keen interest in. Are there a few that you’d like to own a piece of? If so, start there. Otherwise, you can always ask your financial adviser for data on up-and-coming companies or pay attention to market trends in the media.
Get a Copy of the Annual Report
Once you have a list of top prospects, head on over to the company’s website and download a copy of the annual report. It’s an extensive document that provides an overview of how the company performed in the last year, along with detailed financial reports.
The U.S. Securities and Exchange Commission (SEC) mandates that public companies provide this report to shareholders on an annual basis.
But it’s usually available through the company’s website as well for the public to see. If you’re unfamiliar with any of the terms listed, the broker’s website should have information and resources that can assist.
Monitor the Company’s Performance
You may also want to consider monitoring the company’s performance before making a purchase decision. Steep fluctuations or signs of declining revenues could indicate that it may not be the right time to invest.
(Most brokerage firms will also offer tools and resources to help you stay on top of what’s going on with the companies you’re considering).
Step 3: Get a Quote
You’ll want to pay close attention to the information presented in the quote. Stock quotes, which are represented by ticker symbols that are abbreviations of the company, include:
Bid: highest price per share a buyer wants to pay per share
Offer or Ask Price: lowest price per share a seller will accept per share
Historical information on trading volume
Interactive resources to help gauge projected performance
Contact your online broker to learn more or visit Nasdaq.com to retrieve a real-time quote.
Step 4: Place an Order
Now that you’ve gotten all the technical/admin duties out of the way, it’s time to buy stock. But before you get too excited, it’s important to familiarize yourself with order types.
Market Order
A market order ensures you get the amount of shares requested, even if the asking price is a bit higher than your bid. This is usually the case when your primary concern is the share volume and not stock price.
This type of order is best for investors who are in it for the long haul. Why so? Well, a slight spread, or the difference between the asking price and bid, shouldn’t make that much of a difference over time.
Let’s say you want to buy 75 shares at $150 and the quote states:
Bid: $149 (75)
Ask: $150 (60)
Last: $151 (100)
If the seller agrees to issue 75 more shares at $153, your market order will be for 60 shares at $150 and 15 at $153.
Limit Order
A limit order ensures the broker purchases shares at the desired price point. So there’s a possibility you may not receive the number of shares you want until the price point decreases.
Let’s say you want to buy 80 shares at $160 and the seller is only offering 45 at that price point. If you decide to execute a limit order, you would get 45 shares and wait for sellers offering at least 35 or more shares at $160 to reach 80 shares.
No Guarantees
When you place a limit order, understand that there are no guarantees your order will be filled since market orders are executed first.
If it takes several rounds of trading to get the desired volume of shares, expect a hefty amount of broker fees because commissions are tacked on after each transaction.
In this case, it may be in your best interest to execute a market order and pay a bit more per share since the cost of commissions may wipe out the cost-savings per share of stock.
AON Limit Orders
You should also be mindful of all-or-none (AON) limit orders, which indicate to the seller that you’ll only purchase if the price is at or below the amount of your bid. Furthermore, the requested amount of shares must be offered during that specific bid.
If you want to leave the order on the table for an extended period of time, it can be coded as good till canceled (GTC). The timeframe can span from a few to several months.
Stop Orders
Stop orders are driven by price and are only filled when the requested amount of shares reaches the stop price. There are two types of stop orders you should be aware of:
Stop-limit order: functions like a limit order because it’s only executed at the “stop-price”. However, you may not get the number of shares you want.
Stop-loss order: functions like a market order, but the primary difference is the entire order will only be filled when the price is at or below the “stop level”.
How many shares will you be purchasing?
Before you can execute a market or limit order, you’ll need to decide on the number of shares you wish to purchase. There’s no right or wrong amount, and some newbies prefer to start small and scale up once they’re a bit more comfortable with how stock trading works.
The Next Steps
Kudos to you on your first stock purchase. It’s a great first step toward building wealth and helping secure your financial future.
And even if your first round doesn’t turn out as planned or your experience steep market downturns, don’t throw in the towel right away. Remember why you started and focus on the light at the end of the tunnel, or your future earning potential.
If you are unsure of which stocks to pick, you might want to consider buying mutual funds or ETFs.
Best Online Brokers and Trading Platforms for Buying Stocks
The best online brokers offer low commissions and fees, and great research tools, such as charts and stock screeners. You will also want to choose a brokerage platform that is easy to use and intuitive.
Good customer service is also essential when considering an online brokerage account. Check to see if the broker offers phone and email support, as well as live chat. Here are some of the most popular brokers to look into:
Robinhood is a good choice for buying stocks with zero commissions. It offers a simple mobile app with a limited selection of commission-free ETFs and no-transaction-fee mutual funds.
Charles Schwab offers a comprehensive trading platform with powerful research capabilities. You also get access to a wide variety of financial products, and Schwab offers 24/7 customer service.
Fidelity offers comprehensive research and market analysis tools, low trading fees and commissions, and a dedicated customer service team.
With E-Trade, you can easily invest in stocks and other financial instruments online or on your mobile device. They also offer advanced trading tools and charting.
How to Buy and Sell Stocks FAQ
How do I buy and sell stocks?
You can buy and sell stocks through a stockbroker or online trading platform. A stockbroker can help you with the purchase and sale of stocks and provide advice on the best investments for your portfolio. If you decide to use an online trading platform, you’ll need to research and choose one that best meets your needs.
What is the best way to buy stocks?
The best way to buy stocks is to do your research and learn about the different stocks and companies you’re interested in. Then, choose the ones that best fit your investment goals and risk tolerance.
You should also consider the fees associated with trading and the terms of the broker you plan to use when making your purchase. Additionally, it is important to practice patience and discipline to avoid making rash decisions.
How do I choose which stocks to buy?
When choosing which stocks to buy, you want to consider a variety of factors. You should look into the company’s financial health, its competitive advantage in the market, its management team, the industry it operates in, and its earnings potential.
Additionally, you should consider your own financial goals, risk tolerance, and investing timeline. Before you start buying stocks, it is important to do your own research. You may even want to consult a financial advisor to ensure that the stocks you are considering are appropriate for your individual financial situation.
What is the risk associated with investing in stocks?
Investing in stocks carries a certain level of risk, as the stock market can be volatile and movements in stock prices can be unpredictable. It’s critical to understand that stocks have the potential to both increase and decrease in value.
What are the costs associated with buying and selling stocks?
The costs associated with buying and selling stocks include commission fees, taxes, and any other applicable fees. Depending on the broker, commissions can range from a flat fee to a percentage of the total trade value.
Taxes, such as capital gains taxes, may also be applicable when selling stocks. Other fees such as account maintenance fees, custody fees, and margin interest may also be applicable.
How old do you have to be to trade stocks?
You must be at least 18 years old to open a brokerage account and trade stocks in the United States. However, some brokers, and in certain states, you need to be at least 21 years old to trade stocks.
How much money do I need to start investing in stocks?
The amount of money needed to start investing in stocks will depend on the types of stocks you plan to buy and the amount of money you are comfortable investing. Generally, you should expect to start with at least $1,000. However, some online platforms require a minimum of $500 or less.
How much money can I make from investing in stocks?
The amount of money you can make from investing in stocks depends on the types of stocks you invest in, the amount of money you invest, and the success of your investments. It’s important to remember that stock investing can also result in losses as well as gains.
When you purchased your first home, it likely checked off all the boxes. But over time, perhaps your lifestyle has changed and your family has grown, and now you’ve started asking yourself, “Should I buy a bigger house?” Whether you’re looking for larger bedrooms, expanded family space or more storage solutions, buying a bigger home — or even just moving to a different layout or location — might be a change you’re ready to make.
Scott Bridges, Senior Managing Director of Consumer Direct Lending at Pennymac, says that upsizing happens frequently. He explains that a “healthy percentage of buyers are looking to buy up for space, neighborhood, school district and work proximity reasons. It’s a great pursuit and one of the more exciting chapters in one’s homeownership journey.”
Here’s how to figure out if you’ve outgrown your current home and how to determine how big a house you actually need.
The Signs You’ve Outgrown Your Home
While starting a new chapter in a bigger home may sound appealing, moving is a big decision that can come with a hefty price tag. How do you know if you’ve really outgrown your house? Bridges says the following are some of the most important items to consider.
Physical Aspects
One of the first things you’ll want to assess is the number of bedrooms and bathrooms you have versus the number you need. Bridges notes, “If your family is growing, if you have kids or parents moving in, you will need additional space for the new members of the household.”
Evolving household dynamics can also change your idea of an optimal home layout. If you currently have a one-story home, do you want to move to a two-story residence or vice versa? Do you want your children’s bedrooms on the same floor as yours? Do you need a separate entrance and living area for mom and dad or grandma and grandpa?
You’ll also want to think about your outdoor space. Bridges recommends asking yourself how much space you’ll need. For example, will you want to entertain, maybe have a pool, how much yard would you like to manage? All things to consider when looking to buy a bigger house.
Future Plans
Even if you’re comfortable in your home right now, do you foresee life events on the horizon that may lead to things getting cramped? Think carefully about your future plans and determine if they align with your current living environment. Consider the following:
Will you be having more children or expanding your family?
How long will your kids be living in the house before they leave for college or work?
Will you need a larger garage or driveway as your children get their driver’s licenses?
Do you envision an elderly parent moving in with you at some point?
Your answers to these questions will help you decide if moving to a bigger home is right for you.
Daily Life
Your home’s physical size may be the primary factor when deciding if you’ve outgrown it, but there are other lifestyle factors to consider as well. For example, do you have a short or a long commute from your current home? Bridges points out, “Most people don’t want to add significant time to their commute, even if it is for a larger home.” Others, however, may feel a longer commute is an adequate trade-off for increased space.
Or maybe you aren’t commuting as much because you work or attend school from home. Could a dedicated work area in a larger home reduce distractions?
Consider, too, the benefits and drawbacks of your present location. Even if you love your neighborhood, perhaps you want to move to a quiet, traffic-minimal cul-de-sac. Or maybe you’d like to be within walking distance of stores, restaurants or public transportation.
Quality of life is key. If your current home is causing you stress and not providing you the comfort you need, it may be time to upsize. Bridges urges, “Carefully think about how much better your day could potentially be with more space, a bigger kitchen, larger yard and more rooms.”
Considerations for Staying Put
There are many reasons why you may want or need to move to a bigger house. But that increase in square footage will likely increase your expenses and responsibilities. Here are a few reasons why staying put may be a better option for some homeowners.
Difficulty Finding a Home in Your Ideal Location
Depending on your desired location, a larger home in your price range may be difficult to find. If you want to remain in the same neighborhood or school district, you’ll have to decide whether moving away from your preferred area for a bigger space is worth the sacrifice.
Higher Costs Beyond the Mortgage
Even if you can comfortably afford your down payment and monthly mortgage payment, there are other expenses you’ll need to consider when moving to a bigger house. “If you live in an area with colder winters, understand your heating costs will go up,” Bridges says. “In a warmer climate, think Arizona and Texas in the summer, AC costs can run very high electric bills in bigger homes.”
Increased Responsibilities
A larger home requires more interior and exterior upkeep. There’s more to clean, furnish, repair, landscape and maintain, which takes time, money and energy.
Not a Guaranteed Investment
If you’re purchasing a home based on an anticipated greater return on investment, keep in mind that real estate values can be unpredictable. There’s no guarantee that your larger home will increase in value when you’re ready to sell.
Commute
Housing costs are often less the further you move away from city centers, giving you more bang for your real estate buck. But if it takes you longer to get to your job, the added time, hassles and transportation expenses may not be worth it. Bridges notes, “If you’re extending your commute to live in a bigger house in the suburbs, the drive may be just too hard.”
Financial Tips for Buying a Larger Home on a Budget
Moving involves a considerable amount of expense, stress and time. Many people try to avoid it by buying a home that will meet their needs for many years to come. However, it’s also important not to buy a house bigger than what you really need. Maintenance requirements, increased utility bills and expensive mortgage payments can be significant burdens. When purchasing a home, how can you be prepared for a growing family without overstretching your budget? Here are a few tips.
Anticipate Costs
Try your best to forecast the additional costs of a bigger home. “When you buy a larger home, you can easily anticipate your mortgage, taxes and insurance costs increasing, but many people don’t anticipate the additional costs of a larger home,” Bridges explains. “Your utilities will be more expensive, lawn and landscaping and amenities like pools will increase your monthly expenses as well. Lastly, repair costs can be much more expensive on bigger homes. Think of a roof replacement on a 2,000 square foot house versus a 4,000 square foot house.”
Consider Your Income and Employment Stability
While more space may support your plans, Bridges stresses that stability of income and employment must be part of the discussion when considering moving to a larger home. Your household income will need to cover the higher costs of owning a bigger house — now and in the days ahead.
Rent Out Your Original House for Income
It may make sense to sell your current home and use the proceeds for the down payment. But if you don’t have to do that, consider keeping it as a rental. Some homeowners move to a bigger home while renting out their old home, creating what can be a lucrative income stream in the future. Bridges advises, “Depending on how much you owe on your house, sometimes it makes sense to keep the original house and rent it out, as it can represent a good income source in the long run. Over time, real estate tends to appreciate and rents tend to rise, so holding the property as a rental can add to your overall wealth as the years go by.”
What to Look Out for When You’re Ready to Buy a Bigger House
Moving to a larger home is a significant change and takes careful thought. If you’re ready to upsize, think about how your prospective new home could adapt as your needs evolve. Bridges says that during the buying stage, homeowners with growing families often look for the following:
Bedrooms on the same floor
A bigger kitchen, a nursery or a media room
Backyard space for kids and pets
A better school district, which generally speaking, impacts home value stability
Want to start your new home search now? See how much your current home is worth, and then go beyond home affordability calculators to determine how much house you can actually afford.
Are You Ready to Move to a Larger Home?
So, should you move to a bigger home? “Every buyer has to make their own decision, as their circumstances vary,” Bridges says. Moving may be challenging, and selling is a process, but he adds, “At the end of the day, buying a bigger home might be one of the more memorable and enjoyable things you can do in your life, so don’t wait too long, if you can!”
Choosing a home that is the right size for your life today and tomorrow involves balancing both your family needs and your budget. If you’re ready to take the next step toward a larger home and are looking for expert guidance in the mortgage loan process, get a custom instant rate quote from Pennymac today.
Inside: Looking for a job that pays at least $25 per hour? This list has the best jobs that fit that description. Each job offers unique benefits and opportunities, so take a look and see if any of them match your interests and skills.
Making $25 an hour is not a pipe dream; it’s a viable reality for thousands of people worldwide.
Earning such an income not only instills a sense of financial well-being but also provides a robust platform to plan for the future.
Today, we dive into elucidating the different opportunities potential jobs offer, aligning your skills and experience with an hourly rate that feels just right for your wallet.
Hence, securing such a job is not a function of luck but more a strategic alignment of skills, passion, and industry demands. But if you’re not entirely sure about where to begin or how to hone your skills for these high-paying jobs, don’t worry.
Imagine earning smooth entry-level jobs 25 an hour, all from the comfort of your workspace. Sounds enticing, right?
This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.
Best Jobs That Pay $25 an Hour
This section will highlight various professions across distinct fields that provide such a desirable pay rate.
Looking for jobs that pay $25 per hour? We’ve got you covered.
Whether you’re transitioning careers or just starting, this list could help you discover a role that fits your skills and experience.
1. Paralegal
A paralegal role is an excellent job choice due to the vast knowledge gained in the field of law and legal procedures.
Being a paralegal involves a variety of interesting tasks, such as helping lawyers prepare for hearings, trials, and corporate meetings.
This position is not solely monetarily advantageous, it also presents opportunities for growth and professional development in the legal sector.
Earning Potential: It offers rewarding prospects with an average pay of $25 per hour, with the potential to earn up to $40 an hour depending on experience and expertise.
2. Landscaper
Why toil in a stuffy office when the great outdoors can be your workspace? Relish the satisfaction of planting, pruning, and mowing yourself into a healthier, happier lifestyle.
Ideal for nature enthusiasts and people persons out there, landscaping combines green-thumbed work with personnel management. A knack for the outdoors and previous work experience will be your stepping stones, while a certificate in grounds maintenance can make your application stand out.
Start by volunteering in your local community gardens or offering your services to neighbors. Through this, not only will your skills blossom, but your resume will flourish, too.
Earning Potential: You can expand your lucrative landscaping journey by owning your own company and training others to be laborers.
3. Truck Driver
Why is it a top-tier job, you ask? Consider this: truck drivers are the beating heart of global commerce, pivotal figures in ensuring warehouses stay stocked and goods reach their desired destinations. Plus, you’re free of the traditional office environment.
This job is perfect for those who prefer to work alone as well as those who prefer delivery routes that often stretch into the night.
You must be over the age of 21 years old and able to pass a CDL exam. Many truck drivers to a training course to get a jumpstart in the industry.
Earning Potential: Many truck drivers start their own company and will employ a couple of rigs to make passive income.
4. Social Media Marketing
Do you have a knack for creating engaging captions or a Sherlockian eye for data? Then Social Media Marketing could be your calling.
This position, hot in demand and rewarding, calls for creativity and analytical prowess.
Why is it a top job? Well, it’s not for the adrenaline rush of its fast pace. It’s the fact that you get to put your tech-savviness to great use. Social media marketers nurture and grow brands through smart strategies and engaging content.
Earning Potential: Many people start working for someone else as a Social Media Coordinator and then go on to open up their own business.
5. Event Planners
As an event planner, you are the unseen forces behind flawless galas, memorable weddings, and standout corporate functions. If you thrive on creativity, organization, and people skills, you will ensure that each event is meticulously executed.
This role allows you to blend creativity with pragmatic decision-making: from the captivating process of selecting venues, and coordinating with caterers
It’s a dream job for you if you love putting smiles on people’s faces and making their day unforgettable.
Earning Potential: An enticing reason is its attractive pay rate: on average, $24-28 per hour, peaking up to $40, with the potential of a quick pay raise. Plus those lucrative tips!
6. Mechanical Technician
If you’re seeking a rewarding, high-paying role that gets you hands-on with varied machinery, then a Mechanical Technician career.
This role is particularly apt for those with a fascination for machinery and a problem-solving mindset. To climb the ladder to success, one needs to keenly understand how to operate and maintain industrial machines, prevent damage, and optimize performance.
So gear up to diagnose, adjust, repair, and don’t forget – your hands, mind, and machines are a team.
Earning Potential: With an average pay of $26 per hour, you can start repairing machines and set up your own company.
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7. Maintenance Technician
This job is best suited for those who enjoy diagnosing technical puzzles and are adept at hands-on solutions.
By developing a strong mechanical aptitude, attention to detail, and top-notch problem-solving skills. Remember, your primary duty is ensuring machinery and equipment operate smoothly – the backbone of any industry.
Start by checking out some free online webinars or training programs related to industrial maintenance.
This is a low-stress job that pays well without a degree.
Earning Potential: As an entry-level worker, you can start by having a vocational certification or general education diploma (GED).
8. HVAC Technician
This role is perfect for those who love hands-on work and can’t get enough of problem-solving – who wouldn’t enjoy the thrill of being an office’s last defense against an impending heatwave?
The key to thriving in this breezy career path is training – dive into an HVAC training program at a vocational school or consider an associate degree in RACH (refrigeration, air conditioning, and heating).
Earning Potential: Being an HVAC technician pays around $25.75 an hour, which will keep your bank balance healthily ‘ventilated’. By having experience, your hourly wage can increase more.
9. IT Support Specialist
If terms like configuring, maintaining, and troubleshooting tech equipment are your weekend chat topics, you’re the perfect match for this.
Thanks to Google’s free certification program, you can start this job by having online training in your spare time.
Start your journey by heading over to Google’s free IT certification program today. Master the IT realm, earn well, and enjoy your work- the trifecta is right there!
Earning Potential: An IT Support Specialist has an average above $25 an hour wage and could rise to $51 an hour for having experience.
10. Day Trader
By poised as a top job due to its flexibility and potential for high earnings, day trading allows you to take full control of your income by making well-informed decisions about the financial market.
It’s perfect for those with an acute mind for numbers, an unflappable nerve, and those who enjoy working from the comfort of their study.
All it takes to get started is some knowledge about the stock market – something you can easily acquire by attending a free webinar or training, which is accessible online!
Of course, remember the golden rule – never invest money you can’t bear to lose. Now, conquer the finance world, one trade at a time!
Earning Potential: By having the eagerness to be a learner and acquire more knowledge about this job, you can earn way higher than you thought. But, there will always be a risk when trading stocks.
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11. Bartender
This job is perfect for friendly individuals! As you’re the life of the party.
Your life will be as vibrant as a well-mixed cocktail—chock-full of lively conversations and new friendships.
Bartending has a steep learning curve, but the payoff is big as it is a job that pays weekly and even daily. Know your spirits, perfect your pour, and master the mix—each skill is a toast to your increasing bank balance.
So, roll up your sleeves, flash that charismatic smile, and prepare to shake things up in the bustling world of bartending.
Earning Potential: With an entry-level job—at a local pub or a fine dining restaurant, you’ll get paid handsomely, at least $25 an hour.
12. Mechanic
The job is a perfect blend for those with a knack for solving complex issues and have the stamina to be on their feet for prolonged periods.
If you’re not averse to the roar of engines and the smell of oil, you might be the grease monkey we’re looking for.
This job is perfect for dipping your toes in oily water. So, go ahead, rev up your career with a mechanic job!
Earning Potential: Personally, my independent auto mechanic makes way more than $25 an hour, but he has years of expertise and opened his own shop.
13. Transcription
Transcription suits anyone craving flexibility or looking to dip their toes into fields like legal, medical, and entertainment.
To shine, you’ll need to master speed, accuracy, and the art of capturing every ‘um’ and ‘ah.’ Noise-canceling headphones and a quiet workspace are your best friends.
Kickstart your move to transcription with free training like a mini-course to see if you like it. Gain insights into making money and build your portfolio.
This high-demand job needs skills you convert audio into text.
Earning Potential: By working remotely as a transcription, you can earn an impressive $25 an hour or more.
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14. Accountant
Start your second act as an accountant today. The balance sheets await your expertise.
By aiding your clients in reviewing their financial information, preparing tax and finance documents, and updating their changes in tax laws or governmental regulations. Certified Public Accountants (CPAs) can earn exceptionally well.
The longer you’re in the industry, the more you can be able to demand potential compensation for your service. Just by conducting audits, successful financial and bookkeeping strategies. CPAs perform a pivotal role that justifies their earnings.
Earning Potential: Right now, there is a severe shortage of accountants graduating from college. So, your earning potential will substantially increase with each year of experience, and possibly earn up to $50 an hour.
15. Proofreader
Proofreader is an ideal job for detail-oriented individuals with a passion for perfect punctuation, splendid spelling, and grandiose grammar.
Did you get a degree in English or similar? Perfect! But remember, while it helps, it isn’t a must-have.
It’s an excellent stepping stone for a stay-at-home parent or anyone seeking to make some extra cash it is one of the best jobs for moms. So hop on the proofreading wagon and ride your way to a more profitable future!
Earning Potential: Just by sitting and reading on your couch, you can now hop on and start earning $25 an hour depending on experience.
16. Recreational Therapist
Bring great immense job satisfaction by improving the lives of those grappling with illness and disability.
To get started, all you need is a bachelor’s degree in recreational therapy and then obtain a Certified Therapeutic Recreation Specialist credential.
So, why wait to become an everyday hero with a salary that smiles back at your bank account?
Earning Potential: You can earn more than $25 an hour by being a Certified Therapeutic Recreational Therapist.
17. Dental Assistant
Do you have strong communication skills, and the ability to partake in a hands-on career?
Just sterilizing equipment or lending a diligent hand during treatments will be part of your daily grind. Ensure every instrument screams ‘clean’ before the dentist reaches for it.
To become a dental assistant, you typically need to earn a certification or diploma through a dental assisting program, which often takes about a year to complete.
On-the-job training may also be required, during which you’d learn about dental procedures, patient care, and office duties under the supervision of a dentist.
You may have found the tooth fairy’s best job yet! Dive in!
Earning Potential: With a wage average of $19 an hour and earning up to $25 just being a Dentist Assistant.
18. Certified Nursing Assistant
Have a career dream to dive into the healthcare industry? Familiarize yourself with basic health practices, hygiene, and safety procedures.
Start your journey as a Certified Nursing Assistant by attending to patients, assisting nurses, and providing emotional support to everyone. You will have to start a training program, but thankfully there are many to choose from.
Earning Potential: This career pays more than $25 an hour and might increase through experience and skills.
19. Housecleaners
According to Zippia, 48.9% of the housecleaner’s qualification is to have a high school diploma, but experience could help. You must have a strong understanding of cleaning procedures and practices.
Also, you can consider taking a course to learn about safety guidelines and recommendations.
Other important attributes include attention to detail, physical stamina, and excellent time management skills.
Earning Potential: Whether you’re a single mom or a high school graduate, you can potentially earn up to $25 an hour.
20. Nanny
Fascinated by child psychology or studying pedagogy? Or just love kids? Then, this job is tailored for you; it offers both consistent income and practical field experience.
Getting started can seem daunting, but it doesn’t have to be. Step into the kiddie world, it might just be the best move you make. Where you are not required to pass any school diploma.
You can find plenty of nanny gigs on Sittercity.
Earning Potential: If being a nanny is just a child game then I want in and earn up to an incredible $1000 to $1100 a week.
21. Delivery Drivers
Welcome to the job of a delivery driver, a blend of independence and earning potential on wheels. When you are good at your job, you don’t have customers wondering how late does Amazon deliver.
This career is a perfect fit for introverts who prefer their own company, the job offers flexibility with the ability to set your hours.
But, keep in mind that larger roles, such as FedEx, may require truck driving experience, the ability to lift heavy boxes, and the completion of a few additional checks.
Earning Potential: Most delivery drivers for FedEx and UPS are union workers. Thus, they have the union to fight for pay increases. Plus you can increase your salary by moving up in the ranks.
22. Licensed Plumbers
Get ready to hop into commercial, residential, and industrial projects, working flexibly based on your schedule.
If you love problem-solving and can handle the occasional wade through the muck, then this amazing career is for you! Don’t worry about your expertise level; It’s the perfect time for you to dip your toes into the world of plumbing.
Earning Potential: Don your gloves, grab your tool kit, and join the ranks of expert plumbers making upwards of $25 an hour.
23. Athletic Trainers
Are you into sports and fancy being in the thick of the action?
You are considering becoming an Athletic Trainer – a well-paid role that combines both your passions brilliantly. Then, get to work closely with athletes, which means you’re right at the heart of the sports action.
You’ll need to be certified and licensed in healthcare to offer your professional services. The ball’s in your court!
Earning Potential: Earning about $25 per hour, it’s among the few amazing careers that can up your game financially and health-wise. Also, it may take you to the Super Bowl as the team’s athletic trainer!
24. Customer Service Managers
So, you’re a people person with a knack for solving problems? Consider a job as a Customer Service Manager.
This job is best for ambitious, empathetic individuals who love making a difference in customer experience, enhancing team performance, and ensuring business profitability.
Want to up your game? Brush up on customer relationship tools like Hubspot or project management tools like Asana. Then, prepare to rule the customer service realm as an expert Customer Service Manager.
This can be a great non-phone work-from-home job as many customer service requests are handled through chat and email.
Earning Potential: One of the amazing careers that pay a satisfying $25 per hour, it’s a chance to flex those crucial customer service muscles while managing a team.
25. Freight Broker
With an average pay topping most traditional roles, this often-overlooked profession is a gem amidst the rubble.
Here’s why: Despite its lucrative nature, competition in freight brokerage is surprisingly low.
Jumpstart your journey with a free webinar or training – there are many available online. This will equip you with vital information about the ins and outs of the role and the industry.
Earning Potential: You will be surprised to learn what a freight broker’s salary can be.
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This course is designed to help you source more leads and move more freight. Or even start your brokerage!
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FAQs
Have you ever dreamt of earning $25 an hour with flexible hours at your convenience?
The list above are some of the jobs that can earn $25 an hour. However, try to evaluate yourself if the requirements perfectly suit you. By having skills and experience on the said job you can ace up and boost your chances of getting one of the high-paying jobs above.
Unlock and upgrade your skills now by attending any training that aligns with your dream job. Be able to receive a rewarding amount of earnings in your pocket!
These amazing careers above can fetch you at least $25 per hour. Start earning big and turn your dream into your paycheck.
Improving your skills through attending training, updating certificates, and seeking additional knowledge in your field. Plus, It increases your chances of landing a job that pays $30 an hour.
Actively applying for new jobs, particularly those that value your enhanced skills, can open the door to higher-paying opportunities potentially enabling you to reach that $30 an hour wage.
So master the craft, build your credibility, and let your work do the talking.
The ball is in your court now. Step up and start crafting your destiny, one skill (and dollar) at a time. So, start attending any training that is aligned with the career you’re looking for.
Find out what should I do for a living. Sign up for a free webinar or training. Sites like Udemy and Coursera offer a plethora of free courses to help you fine-tune your skills or discover new ones.
Which Applications will you Submit for jobs paying 25 an hour?
The possibilities in today’s remote job market are exhilarating. Amid the myriad of options, some rake in at least a solid 25-dollar-an-hour job.
Begin by brushing up on your skills or discovering new ones through free webinars or training sessions that align with your chosen profession to increase your qualifications. Make sure your resume is polished and start applying to suitable jobs in your field. The next step is nailing that job interview.
Thus, finding and applying for such lucrative positions is not just an aspiration for a better standard of living, but a practical step towards improved financial stability.
Remember to job-seek smartly and relentlessly. The end game is finding that perfect remote job – working on your terms, from your comfy corner of the world, and padding your bank account one $25 hour at a time. It’s time to get cracking!
Know someone else that needs this, too? Then, please share!!
Car subscriptions allow drivers to swap out their cars for a new one every few weeks or months (depending on the service), for a set monthly fee.
Buying a car can be a daunting process, especially as the auto market reels from a period of high prices, soaring interest rates and supply chain issues. Car subscriptions can be a flexible and convenient alternative to buying a car, depending on your needs and budget.
What are car subscriptions?
Car subscription services allow drivers access to new cars and other benefits, for a monthly fee.
Much like car leasing or renting, drivers don’t own the vehicle during the time of subscription or after. However, unlike traditional car leasing, which typically offers three-year contracts, car subscription services allow customers to change their car for a new one every month or every couple of weeks. Subscribers also get the flexibility to end their subscriptions after only a couple of months.
Car subscription services are offered by independent rental companies, automakers and dealers. Examples of automaker-backed subscription services include Care by Volvo and Porsche Drive. These programs operate via franchised dealer networks, but not all dealers offer them.
Independent companies like FINN offer subscriptions to a variety of automakers like Audi, Chevrolet, Jeep and Ram, and allow subscribers to swap out cars every six to 12 months. Similarly, the car rental service Hertz allows drivers to exchange cars up to twice a month, through the service Hertz My Car.
How do car subscriptions work?
To join a subscription service, you must meet the program’s insurance, credit and driving history requirements. If approved, you can go to a subscription center, which are typically franchised dealers, or download the company’s app to begin using their service.
Most car subscription services come with a one-time enrollment fee in addition to the monthly fee. Enrollment fees typically cost a few hundred dollars — Hertz My Car charges $250 while Porsche Drive charges $595 for a one-month membership or a multi-vehicle subscription, for example.
Monthly subscription costs also vary among services and even model type: The Care by Volvo monthly price starts at around $915 for a C40 Recharge Plus model and goes up to $1,100 for an XC90. Similarly, Hertz has three program tiers, the lowest of which costs $599 per month (plus taxes) for compact and mid-size sedans and the highest of which costs $1,399 per month (plus taxes) for SUVs, large trucks, luxury sedans and the like. Most subscription program monthly fees also include benefits like insurance coverage, maintenance, 24-hour roadside assistance and more. Many offer complimentary delivery and pickup as well.
The vehicles available to drive will depend on the inventory at your local franchised dealer. And when you subscribe through a third party company like Hertz, you may not get the model you pick if the car is not available.
When your term is over, you can choose to cancel your subscription or return the car for a new one. Note that most of these programs have monthly mileage caps — 1,250 for Care by Volvo, for example. If you go over your allotted miles per month, you won’t be able to purchase more, and will be charged a fee for each additional mile you drive.
Should I join a car subscription service?
Car subscriptions are flexible and convenient: There’s no down payment required, you’re not saddled with monthly payments nor locked into a long contract. However, there are some downsides to consider.
As with renting or leasing, subscribers don’t own the car they’re driving, which means their monthly fee payments don’t go toward having equity in the car. And these fees can be hundreds of dollars more costly than monthly leasing or finance payments. Additionally, because you don’t own the car, you’ll have to pay for any excess wear and tear at the end of your term, which can be costly depending on the damage.
Keep in mind that some third-party subscription services don’t operate in every state and have very limited coverage, which means not all drivers can use them.
Despite these constraints, car subscriptions can offer access to newer cars, electric cars and luxury car models if you have the budget and want to drive a new car every month or so. Plus, if you’re shopping for a specific make or model, a car subscription can be a good way to test drive a car for an extended period of time to see if you like it. But subscribing to a car service likely won’t make sense for the average driver.
When buying a home, it can be challenging to know what to look for. Should you look for a garage, a spacious bedroom or even a big driveway? You could, but you should also look for structural aspects of the home. Ensuring that the house you are buying is made with quality materials that will not either wear down or break, will project a happy and safe home ownership.
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Below are the specific things you should look for in a house to make sure that your future home will stand strong!
Exterior Face
The base of a house is what keeps it afloat. Making sure that you have a safe foundation is key.
Brick is very low maintenance and long-lasting but there are limited colour options and it does get quite expensive. Brick is also eco-friendly and is resistant to fire and infestations that may occur. It is also a great temperature regulator that can increase the comfortability of your home.
Vinyl Siding is quite durable in various weather conditions and is significantly cheaper but it is not as eco-friendly and can be susceptible to leaks. Though vinyl siding doesn’t require a lot of maintenance, in the case that it does break or tear, the entire plank will need to be repaired which can become costly.
Roofing
Metal roofing is more expensive, lasts usually twice as long as asphalt, endures worse weather, has better energy efficiency and tends to weigh less, putting less stress on your foundation.
Asphalt roofing is cheap and easier to install, it is somewhat durable but can be damaged with weather.
Slate roofing is made up of tiled slates that can come in various colours. This roofing type is very durable, fire-resistant and eco-friendly as it can be recycled. The downsides are that it is very expensive, heavy and takes a lot of work and precision to install.
Foundation
Looking for the foundation can help buyers avoid costly repairs if it is already damaged and possibly leaking. Always remember to ask the realtor about the foundation if it is not visible. Here are the three types of foundations:
Insulation concrete form incorporates insulated forms and poured cement. This option is expensive but increases energy efficiency and is far stronger than any other form.
Poured cement is the standard foundation for many homes. It is reliable and durable with a lesser tendency to crack while being easier to repair if needed.
A cement block wall is more prone to leaking because of cracks that can occur and is harder to fix, but is the more affordable option.
Windows
It is also important to inspect the windows on the property and make sure that they are operating properly. Faulty windows can spike your energy bill and be a safety concern. Here’s what to do and look for:
Double-pain glass is something to look for as this means that you have quality windows. This helps with sound, energy efficiency and durability.
Research the manufacturer of the windows if you can’t tell to see the credibility of the window and if it is a quality brand.
See if they are operating properly. Are they moving smoothly and sealing with no cold air seeping through?
Doors
Just like windows, it is vital to check your doors for operational malfunctions so you can enjoy your home to the fullest. Here’s what to look for:
Are they operating properly? Ensure that there is no air drafting through, no major cracks visible and that there is no condensation between the glass panel of your door.
Check the weather stripping around the door to ensure proper sealing which helps with energy efficiency and comfortability.
Are you currently looking for a property? Call us today to talk with one of Zoocasa’s experienced real estate agents to guide you through the exciting home-buying journey!
Inside: Are you looking for ways to make money while you’re still in college? This guide has a variety of ideas for side hustles for college students that can help you get started. From online businesses to odd jobs, there’s something for everyone.
Are you a college student searching for ways to increase your income and improve your financial situation while balancing your academic commitments? We’ve got your back!
In this student-friendly guide, we’ll share side hustles for college students, giving you many opportunities to earn extra cash.
You can even learn to get paid to go to school!
Whether you’re tech-savvy, creative, or inclined towards offline work, you’ll find something that suits your preferences.
Let’s jump in and explore how you can transform your free time into a valuable money-making asset!
What is a Side Hustle?
Simply put, a side hustle is like having a little extra adventure on the side while you’re busy with your main gig, which in this case might be college classes.
It’s your chance to boost your finances and gather valuable experience that could pave the way for future career opportunities. It’s like adding a dash of extra flavor to your college life along with extra cash!
What side hustles can I do as a college student?
As a college student, you possess a unique set of skills and resources that can be leveraged to generate income.
Whether you aspire to know how to make quick money in one day or debate what should I do for a living, opportunities await you.
Stay tuned for the second part of this article, where we’ll explore a treasure trove of side hustles perfectly tailored for college students.
What can I do to make extra money as a college student?
As a college student, there are various ways to earn extra money.
Most importantly, you need to find something that works well into your college schedule.
That is why many college students prefer to learn how to make money online for beginners. That gives them the chance to make money on their time from their campus or anywhere else they choose to move.
Now, let’s move on to the best online and offline side hustles for college students that may be of interest to you.
This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.
Best Online Side Hustles for College Students
As the digital era continues to expand, opportunities for online side hustles are becoming more prevalent.
These side gigs leverage the power of the internet allowing flexibility, diversity, and potential profitability without sacrificing full-time commitments.
From millennials to retirees, are venturing into online side hustles to supplement their income, make use of their skills, or explore new career paths.
1. Write Articles for Websites
If you have a flair for writing, you can explore freelance opportunities as a content writer for websites and blogs. Numerous online platforms offer paid writing gigs.
Create a portfolio of your writing samples, sign up on freelancing websites like Upwork or Fiverr, and start bidding on writing projects.
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2. Build Websites
If you’re tech-savvy and have web design skills, offer website design services to individuals or small businesses looking to establish an online presence.
Showcase your web design work through a portfolio website, network with potential clients, and consider joining platforms like WordPress or Wix for easy website creation. Just make sure to use Kadence WP for themes!
This is a great gig for college students because you can take on more clients during your school breaks and none during finals week.
3. Starting an Etsy Business Selling Printables
Creating printables on Etsy is a popular and potentially profitable endeavor. It involves designing digital products that users can download and print at home.
Find the most popular digital products to sell on Etsy.
Beyond imagination and design skills, it is essential to learn how to optimize product descriptions and pricing, for which you can turn to comprehensive online courses. By following this how to sell printables course, you can equip yourself with the right tools to excel in this Etsy niche.
4. Create Videos
As a college student, there are two possible avenues for this side gig.
You can start a YouTube channel or offer video creation/editing services.
If you choose to venture into your own YouTube challenge, then you are able to monetize your videos through ads and sponsorships. Most importantly, you need to choose a niche for your YouTube channel, then create engaging content, and build a loyal audience.
Don’t want to be in the limelight? You can also offer video editing services on freelancing platforms.
5. Start a Blog
Share your knowledge or passion through a blog and monetize it through affiliate marketing, sponsored posts, and ads.
Pick a niche you’re passionate about, set up a blog using platforms like WordPress and Kadence theme, and consistently publish high-quality content.
This is not for the faint of heart, but college students traditionally have better success because of promotion through social media and engaging with readers.
6. Start an E-commerce Business
Launch your online store selling products you’re passionate about. Platforms like Shopify make it easy.
Source or create your products, set up an e-commerce website, and market your products through social media, email marketing, and search engine optimization.
One of the main benefits is an e-commerce business with low start-up costs, low ongoing maintenance, and the ability to remain open and generate sales 24/7.
7. Become a Freelancer
Explore freelance platforms for various opportunities like graphic design, programming, or digital marketing.
As a freelancer, you can work remotely and at your own pace. Create a compelling freelancer profile, showcase your skills, and bid on projects that match your expertise on platforms like Upwork, Freelancer, or Guru.
This is a great way to start building your portfolio of experience.
8. Write Your Classmates’ Cover Letters and Resumés
Engaging in the preparation of your classmates’ cover letters and resumes can be a rewarding side hustle.
Many employers today express concern about the lack of well-written cover letters and resume submissions they receive. By capitalizing on your writing skills, you can provide a much-needed service for your peers while earning some income.
Hence, build your proficiency with practice resumes, then decide on your charge per each document created.
9. Sell Stock Photos
If you have photography skills, sell your photos on stock photography websites like Shutterstock.
This is a perfect side hustle for young adults because you are constantly capturing the moments.
To get started, create an account on stock photography platforms, upload high-quality images, add relevant keywords, and start earning royalties when your photos are downloaded.
10. Write eBooks
Capitalize on your expertise in a specific subject and create eBooks to sell on platforms like Amazon Kindle Direct Publishing. Design an eye-catching cover and promote your eBook through social media and book-related forums.
This is the first step to passive income before you even graduate!
11. Proofreading
Proofreading can be a fruitful side hustle for students looking to earn extra money.
By leveraging your writing skills, you can charge a fee to proofread and edit classmates’ assignments, theses, or essays. Also, many small businesses are always looking for help!
With platforms like Fiverror college bulletin boards, you can advertise your services and set your own rates, potentially making $25–$45/hour according to proofreading expert Caitlyn Pyle.
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12. Start a Podcast
Starting a podcast can be an excellent revenue stream, given the significant increase in podcast listenership, with 82 million Americans being weekly podcast listeners according to a 2021 study.1
Your revenue can come from sponsorships, donations, and offering premium content or services. It’s essential to plan your podcast content aligning with your targeted audience and consistently producing high-quality episodes to grow and maintain your listener base.
13. Work as a Virtual Assistant
If you’re looking to start as a virtual assistant without prior experience, don’t worry!
Many businesses look for virtual assistants for tasks like email management, data entry, or social media management. Find out exactly what is needed with this virtual assistant checklist.
Plus working as a virtual assistant offers the flexibility to work remotely, which is a benefit for a college student.
Learn how to jumpstart your side hustle with this free Virtual Savvy training.
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Best Offline Side Hustles for College Students
In this section, we delve into the world of in-person side hustles.
Ideal for those preferring tangible interactions and a more predictable income, these opportunities demand physical presence and often offer good remuneration for physical labor.
However, they come with their own set of challenges like fixed service hours and potential clashes with a busy schedule.
1. House Sitting
House sitting is an excellent side hustle for college students.
You can offer your house-sitting services to neighbors or anyone going on vacation. It’s all about providing peace of mind to homeowners by ensuring their property is secure and well-maintained.
Build trust in your community by offering reliable house-sitting services, and word-of-mouth recommendations will follow. Consider promoting your services through Trusted Housesitter.
2. Food Delivery Driver
This is an extremely easy way to make money.
Sign up as a food delivery driver for platforms like UberEats or DoorDash. After registering as a driver and meeting the platform’s requirements, you can start delivering food orders in your area.
This side hustle allows you to set your hours and earn extra cash while enjoying the freedom of the open road.
3. Offer Lawn and Gardening Services
For those with a green thumb or a passion for outdoor work, offering lawn and gardening services can be a lucrative side hustle.
All by helping homeowners in your area with lawn care and gardening tasks. Investing in basic gardening tools is essential, and you can advertise your services through flyers, local online groups, or by simply offering your services to friends and family.
In fact, this may turn into your full-time business like this high school student.2
4. Shovel Snow During the Winter
If you live in an area with snowy winters, don’t miss the opportunity to capitalize on it. Offer snow shoveling services to residents in your community.
Promote your snow shoveling services well in advance of the winter season to secure clients.
On a snowy day, you can easily make 200 dollars fast. Just by being prepared to respond promptly to snowfall, and ensuring that driveways and walkways are safe and clear.
5. Become a Tutor
Sharing your knowledge by becoming a tutor is not only a valuable service but also a great way to earn extra income.
You can tutor fellow students in subjects you excel in or offer your expertise to local school kids. You can also tutor your classmates who are struggling in class.
Advertise your tutoring services through college bulletin boards, social media, or tutoring websites.
6. Clean Houses and/or Offices
Cleaning services are in demand, and you can provide them to individuals or businesses in your area.
Invest in basic cleaning supplies and equipment, set competitive rates, and market your services through local ads, referrals, and social media.
A reputation for thorough and reliable cleaning can quickly build your clientele.
7. Edit Your Classmates’ Papers — For a Fee, Of Course
If you have strong writing and editing skills, consider offering your editing services to your fellow students.
Many students appreciate having their papers reviewed and improved by a peer.
Promote your editing services within your college network, showcase your skills, and offer reasonable pricing to attract clients. This can quickly spiral to making 300 dollars fast.
8. Become a Handyman or Handywoman
If you’re skilled in fixing household issues or performing basic maintenance tasks, this side hustle can be highly profitable.
Acquire a basic toolkit, and offer your handyman services locally. From minor repairs to assembling furniture, providing reliable and affordable solutions can earn you a good reputation and repeat business.
You can quickly get started on TaskRabbit today.
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9. Translator
This is a highly needed service! If you’re proficient in multiple languages, offering translation services can be a rewarding side hustle.
Create a portfolio that showcases your language proficiency and advertise your skills to businesses or individuals who require translation services.
Your ability to bridge language barriers can be a valuable asset to various clients.
10. Deliver Anything Else Someone Might Need
If you’re the proud owner of a vehicle or even a trusty bicycle, you can tap into the world of delivery services. While food delivery is a popular option, you can expand your offerings to deliver a wide range of items.
Consider offering delivery services for groceries, prescription medications, packages, and even care packages for college students.
People are always willing to pay for help.
11. Drive for Uber or Lyft
Becoming a rideshare driver with companies like Uber or Lyft is a popular side hustle that offers flexibility. Sign up as a driver, meet the platform’s requirements, and start offering rides to passengers.
The benefit is you can choose your working hours, making it convenient to fit around your class schedule.
12. Hauling Junk
Help people declutter their homes by offering junk hauling services. You’ll need access to a pickup truck or a vehicle with ample cargo space.
Advertise your services, establish rates based on the volume of items to be hauled, and provide efficient and responsible junk removal.
Seriously, I see three or more posts in my neighborhood with people asking for help to move their junk!
13. Turning Your Car into a Moving Advertisement
Ever wondered if you could make money while driving around town? Well, here’s an interesting side hustle idea – turning your car into a moving advertisement.
Some companies are willing to pay you to wrap your car with their branding, turning it into a rolling billboard.
As you cruise through town, you’ll not only earn money but also become a conversation starter. It’s a unique way to earn extra income while sparking interesting discussions about the products or services you’re promoting.
14. Offer Moving Services
Assisting with local moves can be physically demanding but financially rewarding. Advertise your moving services locally, and consider forming a team if necessary.
Ensure you have the necessary equipment, such as dollies and moving blankets, to facilitate the moving process. By providing a smooth and efficient moving experience can lead to positive reviews and referrals.
15. Entertaining Kids at Birthday Parties
Entertaining children at birthday parties is a profitable side hustle for college students, especially those who have a knack for acting or enjoy engaging with children.
This venture could earn you between $50 and $100 per hour.
Develop a repertoire of entertaining acts, start promoting your services through local event planners and social media, and offer packages for different party sizes.
16. Teach Music or Sports Lessons
Share your musical or athletic skills by offering lessons to aspiring learners.
Whether you’re skilled in playing an instrument, coaching a sport, or giving dance lessons, there’s likely a demand in your community. Advertise your lessons through flyers, social media, or local community centers.
Make sure you have the necessary equipment and expertise to provide quality instruction. This is what I did in high school and college.
17. Proctor Tests
If your college conducts exams, there may be opportunities for students to work as test proctors for a fee. Inquire about proctoring opportunities at your college’s testing center or academic department.
This can be a convenient way to earn extra income without straying far from your campus.
18. Become a Legal Street Performer
If you have a talent for street performing (e.g., playing music or juggling), consider performing in public spaces for tips.
Choose a suitable location, prepare your act, and follow local regulations for street performances.
Could you make $1000 in a day?
19. Be a Lifeguard
Lifeguarding is a responsible job that requires attentiveness and quick response in case of emergencies. If you’re a strong swimmer with the necessary certifications, consider working as a lifeguard at local pools or aquatic centers.
Unfortunately, this is a high-stress and low-paying job. So, you are better off considering one of these low stress jobs that pay well.
20. Offer a Painting Service
Offering painting services can be a rewarding side hustle, especially for those who find the task peaceful and enjoy bringing a fresh new look to rooms or entire homes.
Most homeowners dread the prospect of painting their own homes and are often willing to hire a handyman to do the job. You can easily make 500 dollars fast.
With minimal initial investment in quality brushes and rollers, you can unleash your creativity and transform spaces with color and design, choosing your own hours and clients in the process.
21. Sign Up as a Substitute Teacher
Working as a substitute teacher is an excellent opportunity for individuals who do not necessarily have a teaching certificate but possess a high school diploma and a clean background check.
My husband, having served as a substitute teacher, found the experience to be rewarding when he was in college.
Not only did it pay well, averaging about $131 per day, but it also allowed him the chance to engage in student activities and provide value to the local school district.
22. Babysitting
Babysitting is a viable side gig, particularly suitable for early childhood education degree seekers, offering flexibility and a rewarding experience while caring for others’ children.
It involves variable commitments mostly during evenings, weekends, and some weekdays, with an average earning potential of $17 per hour.
Securing babysitting roles can be accomplished through personal connections, local community outlets, and digital platforms likeCare.com and Sittercity.
Why is college the best time to start a side hustle?
Before we bid adieu for now, let’s ponder why college is the perfect breeding ground for side hustles:
Flexibility: College schedules often come with pockets of free time, making it easier to juggle academic responsibilities and a side gig.
Learning and Growth: Side hustles offer valuable lessons in time management, financial literacy, and entrepreneurship that complement your academic knowledge.
Networking: Your college is a hub of potential clients, collaborators, and mentors, providing a fertile ground for your side hustle to thrive.
Financial Independence: Earning your own money allows you to alleviate the burden of student loans and gain financial independence.
Employing multiple streams of income is the savviest thing you could do for your finances and your long-term wealth.
Tips to be Successful with Your Side Jobs for Students
One of the best things about side hustles, is you are able to get real-life experiences and knowledge. This side hustle may or may not become your full-time job, but the skills are transferable.
The goal is to find success, so let’s explore some essential tips to succeed in your side hustles as a college student:
Time Management: Prioritize your college commitments and allocate dedicated time for your side hustle.
Skill Utilization: Leverage your skills, whether it’s writing, design, or a particular subject you excel in.
Online Presence: Create a portfolio or profile to showcase your skills and attract potential clients or customers.
Networking: Connect with fellow students, professors, and professionals who might offer opportunities or guidance.
Also, don’t give up if your first side justle doesn’t work out the way you hoped. Keep going until you find something you love to do!
Are You Ready To Start Hustling?
As you set off on your side hustle journey, keep in mind that consistency, dedication, and adaptability will be your trusted companions.
Whether you choose to dive into online opportunities, embrace offline endeavors, or strike a balance between the two, every experience will play a part in your personal and entrepreneurial growth.
If you are going to be in various locations during your college years, it is best to look for remote jobs for college students.
Your path towards financial empowerment is only just beginning, and we’re thrilled to be with you every step of the journey.
Between each college exam and class, you can make money to pay for your schooling. I think that is a win-win to pay for college without loans.
Start your side hustle today and get on the path to financial freedom with Money Bliss.
Source
Statistica. “U.S. Podcasting Industry – statistics & facts.” https://www.statista.com/topics/3170/podcasting/#topicOverview. Accessed on October 4, 2023.SSt
10 News. “A CEO at 17: How this Colorado teen transformed his side hustle into a legitimate business.” https://www.10news.com/news/green-worx-landscaping-golden-colorado. Accessed on October 4, 2023.
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