Our rights as women have come a long way since we earned the power to vote on August 26, 1920.
But the financial playing field between men and women still isn’t level. Not even close.
To help you make waves in your own financial life, I interviewed several Millennial and Gen Z women to find out what financial advice they’d give to other women today
Here’s what they had to say.
What’s Ahead:
1. “Don’t be afraid to negotiate your salary.”
Anna Barker, Founder of LogicalDollar, offered me this advice.
There’s no question that it can be scary to ask for more money. Especially as women, we often internalize the feeling that we’re going to be seen as pushy or demanding if we ask for a raise.
However, various studies show this is actually one of the reasons women end up earning less over their lifetimes than men, who tend to be more likely to ask for more money.
2. “Take advantage of any employer match ASAP.”
Barker also talked with me about retirement. One of the best things that you can do for your future financial security is to start investing as early as possible.
If your employer offers any matching of your 401(k) contributions, this is basically free money and you should do everything you can to invest up to the limit of the match.
3. “Avoid high-interest debt.”
According to Barker, a big money mistake that a lot of women in their 20s and 30s make is signing up for high-interest credit cards. To be clear, credit cards can actually be a great tool if used correctly — which primarily involves paying the balance off in full by the end of each billing cycle.
The problems start to arise once those interest-free periods run out and you realize you’re not able to immediately pay off the debt you’ve accrued.
4. “It is SO cliché, so hear me out… please start saving early for retirement!”
Heather Albrecht, Financial Coach and Founder of Balance Financial Coaching, discussed this with me.
It’s hard because when you’re young, you seem to have SUCH a long time until that money is needed. But the math doesn’t lie.
Starting young makes it easier because you can save less. Gosh, I wish I had made the space in our spending plan to save earlier even though it seemed impossible. The $25 here or there would have been huge by now.
5. “Start using a spending plan or budget. Zero it out each month, and save the rest.”
Albrecht also spoke with me here. And I have to say if I had been able to get myself into the mindset of “saving money is spending money on my future freedom” at a younger age, there would have been a lot less stress at times.
Budgeting doesn’t have to be difficult, either. Just pick the right method and it’ll become just another habit.
6. “As a Millennial myself, the best money advice I would give women in their 20s and 30s is to diversify how you save and spend money.”
Siobhan Alvarez, Founder of Budget Baby Budget, shared this wisdom with me.
I am a big believer in not being dependent on one checking and savings account! I have a long-term high-yield savings account for an emergency fund, a savings account at my local bank for big purchases, a checking account for everyday expenses; and a checking account for fun purchases throughout the month.
This has helped me not only pay off a huge amount of debt over the past few years but do it in a way so I didn’t feel like I was missing out on life and fun!
7. “Protect yourself and your people financially.”
Brittney Burgett, Head of Communications at Bestow, gave this little nugget of advice. Emergency savings, disability insurance, and life insurance matter, especially if you have financial dependents.
Insurance, in particular, is more affordable to buy the younger and healthier you are. I, for example, have life insurance because I own a home.
My mom is my beneficiary, so if anything were to happen to me, the payout from a policy would enable her to continue the mortgage payments and decide later on what to do with my house — keep it, rent it or sell it. Life insurance would give her flexibility when it’s needed most.
8. “Educate yourself so you understand how money, interest, and debt works.”
Lindsay Feldman, Publicist and Founder of BrandBomb Marketing, broke down this for me.
It wasn’t until I really started reading financial books and listening to podcasts that I really began to take control over my financial situation. Understanding how money, interest, and debt works are key to being able to make your money work for you. I look at everything differently now which has empowered me to make smarter decisions.
9. “Sign up for Experian Boost. It’s free and will report monthly bills that generally don’t boost your credit like a phone bill, gas, and power!”
Feldman offered up a way for folks to finally help their credit the easy way. Experian Boost™ is free and it takes just a few minutes to sign-up.
Always be on the lookout for ways to improve your credit – it’ll only help you in the long run.
Feldman shares a great tip that can help homeowners own their home sooner (and pay wayyy less in interest). If it’s possible, work those extra payments into your budget.
11. “When it comes to money, you can have your cake and eat it too.”
Youmna Rab, Founder of Brilliantly Budgeting offered me this quote.
You don’t need to save every penny you earn and give up your favorite indulgences like spa days or dinners out.
If you make a plan for your money, you can enjoy what you like while also saving money for the future.
12. “Do not share bank accounts with anyone you’re dating but not married to, even if you live together.”
Shannon Vissers, the Financial and Retail Analyst of Merchant Maverick, shared some tough love here.
If you break up or your partner spends on things you don’t agree with, you’ll have no legal recourse to get your money back apart from suing them in small claims or court (which is expensive and stressful and may not go in your favor).
13. “Do not lease your car. Take out a loan instead.”
Vissers makes a good point here as well. A lease is essentially a very expensive car rental, and it’s a bad choice unless you’re wealthy enough to comfortably afford this luxury.
This doesn’t mean you can’t get a new car when you’re young. Rather than leasing a car out of your price range, opt to finance a cute, reliable car that you’ll own in three or five years (ideally three). You’ll build credit history this way and, in a few years, you won’t even have a monthly car payment.
14. “Be a minimalist, especially if you rent.”
While this tip may not be for everyone, there’s a good reason Visser’s offers this pearl of wisdom as well.
A good case can be made for spending on experiences when you’re young – trips, concerts, etc. — but overspending on retail goods is another story. Ever heard of the saying, what you own, owns you?
It’s true.
Remember, you’ll have to deal with all your clothes, shoes, furniture, kitchen items, knick-knacks, etc. the next time you move — and your headaches will be compounded if you have to move to a smaller place.
15. “The greatest gift you can give yourself is to save and invest early.”
Sarah Jane Paulson, CFP® at Valkyrie Financial, gave me this bit of guidance.
The classic pay yourself first mentality is the easiest way to a financially strong future. Build that emergency fund (or F*** You fund, if you prefer) of three to six months worth of expenses in a separate account other than your everyday checking.
Then go out and open an IRA or Roth for yourself. Put your money into cheap, diverse index funds and keep adding to it. The greatest money strength you have on your side is that you have years for the market to create an avalanche out of the first few snowflakes of money you invest.
16. “Becoming a financially grown-up woman means unlearning a lot of money lessons society taught us as girls: that men are better at money and math (they’re not), that investing is scary (it’s not), and that the best route to financial stability is to marry a high earner (absolutely not!).”
Sara Rathner, credit cards expert at NerdWallet, wanted to share this with other women.
So throw all those old lessons in the garbage, because that’s where it belongs. Now, today, learn everything you can about managing your finances on your own.
There is nothing more empowering than being the boss of your own life, and of being an equal partner in your relationships. No one will ever care as much about your money as you will.
17. “Surround yourself with people with similar money values.”
Sue Hirst, Co-Founder and CFO of CFO On-Call shared her experience when we talked.
When I was in my 20s, I used to hang out with many people who didn’t share my money values. As a result, almost every time I went out with my friends, I splurged money recklessly due to peer pressure.
This was one of the top reasons I was unable to save as much money as I would have liked each month. Looking back, I wish I had either told my friends directly that I wasn’t comfortable spending huge amounts of money routinely, or made new friends whose financial values aligned with my own.
18. “Make saving a habit as soon as you start making income.”
Imani Francies, Finance Expert at US Insurance Agents, shared this little mind shift.
Saving becomes easier when you look at yourself with the same significance that you look at your power bill or any other bill. No matter what, you are going to do your best to pay your power bill. You should feel the same way about putting money into your savings.
Paying yourself first every month is investing in your future. Even if you can only put $5 into a savings account once a month, start early.
19. “Budget, but give yourself room to indulge.”
Lisa Thompson, Savings Expert at Coupons.com, offered up ALLLL the good tips when I spoke with her.
What’s your weakness: designer handbags, weekend getaways, fine dining with a great bottle of champagne? Make room for things you love by controlling what you spend in other areas.
20. “Cash back offers are everywhere, from brands like Rakuten, to credit card perks, to apps like Coupons.com. Use them!”
Thompson also offers this bit of advice. Refuse to pay full price for anything until you’ve looked for an offer. If you can pair a coupon or cash back offer with a store discount or sale, bam! That’s a savvy way to shop.
21. “Learn to use credit cards wisely.”
To tack on, Thompson also had this to say.
She makes a good point, too. Today, there are so many options for credit cards that offer perks from cash back to miles to points, as well as incentives, like a free Dash Pass for DoorDash or money toward a Peloton membership. The key, of course, is to not carry a balance and pay so much interest that it cancels out the perks. But if you can learn to use credit cards wisely by paying them off each month, the perks and incentives can help make everything from dining out to travel more affordable.
22. “Get a side gig by turning a passion into a money-making opportunity.”
Finally, Thompson ended our conversation with the quote above.
Do you love essential oils? Make balms, rollerballs, and pillow sprays, and sell them on Etsy or at pop-up shops.
Do you love thrifting, going to estate sales, and visiting antique shops? Find items worth more than what you’re paying and resell them! Facebook Marketplace is the perfect spot for that, and it’s free.
If you can turn a hobby into a source of income, that’s extra money for you to invest, save, or use as your slush/entertainment fund.
23. “Know your worth and advocate for yourself when negotiating.”
Amy Maliga, Personal Finance Consultant at Take Charge America, tells it like it is with her wise advice above.
Since the gender pay gap is still a real thing (ugh), it’s important to do your research on salaries for your position and advocate for yourself when negotiating a new job or discussing your annual performance review.
24. “Set goals and actively work toward them.”
Maliga offered me a simple but strong piece of advice above.
Whether it’s buying a home, starting a business, or embarking on world travel, setting financial goals gives a structure and framework to how you plan your finances.
25. “Forget FOMO. Don’t be afraid to say no.”
Maliga also makes a good point here.
TikTok made me buy it – or did it?
It’s way too easy to shop these days, and social media knows exactly what it takes to get you to press “add to cart.” When you’re tempted to buy something you hadn’t planned on, or friends are trying to talk you into activities you can’t afford, keep those long-term financial goals in mind, and don’t be afraid to say no.
Summary
We celebrate Women’s Equality Day every August 26th to commemorate the day the 19th Amendment finally recognized that women have the right to vote. But that same equality hasn’t trickled to the financial space yet, where the gender pay gap, wealth gap, and investing gap still exist today.
We’ve made a lot of progress over the decades, but a lot still needs to happen at the company, state, and national levels to achieve equal pay and equal opportunities for equal work. Until then, I hope these financial tips from awesome Millennial and Gen Z women serve as inspiration for how you can up the ante in your own financial life.
Are there any tips you’d add to the list? Let me know in the comments below!
California-based lender loanDepot has promoted Alec Hanson, the company’s senior vice president of production for the West division, to the role of chief marketing officer.
In this role, Hanson will lead a consolidated marketing team and oversee the development of the brand, digital marketing, and the organic and digital lead generation campaigns, the company said.
Hanson will also be responsible for the company’s originator-led field-level marketing capabilities.
“I’m thrilled to be able to bring my sales-centric mindset and background into this role to further transform our marketing ecosystem both digitally and locally in the communities we serve,” Hanson said in a statement.
Hanson’s promotion comes at a time when the lender is focused on propelling forward its Vision 2025 strategic plan, which includes rightsizing its operations as the company is in the red.
The Vision 2025 plan, announced in July 2022, also includes components such as increasing focus on purchase transactions; rightsizing cost structure; and launching an all-digital home equity line of credit (HELOC), which the lender rolled out in Q4 2022.
The lender closed its wholesale channel in Q3 2022 after its origination volume plummeted in the face of increased broker competition. In its latest Q1 2023 earnings call, loanDepot posted a loss of $60.2 million in non-GAAP adjusted net income, an improvement in margins and revenue from the previous quarter.
The company expects higher production and a further reduction in controllable expenses that will help the lender narrow losses in Q2.
“With his social media savvy and industry expertise, Hanson understands the evolution of today’s homebuyers and is poised to disrupt the traditional mortgage marketing mindset as he works to further differentiate loanDepot in the minds of its many stakeholders,” the company said in a statement.
The average millennial is 35 years old, earns $54,000 per year, and has a net worth (including any home equity) of around $130,000
45% of millennials have student loan debt, with an average balance of $40,600
52% of millennials are homeowners, with a majority of those home purchases occurring over the past 5 years
55% of millennials have children, with a total U.S. birthrate in 2021 of 1.66 children per woman (it takes 2.00 children per woman for the population to replace itself, so we might be in trouble there…)
There are simple steps you can take to become better-than-average financially, including focusing on increased income, measuring your monthly cashflows, using tax-advantages investing vehicles, and more.
The Stats
I’m a Millennial. Many of you reading this are too. Millennials – also called Gen Y – are people born between 1981 and 1996. The average millennial is currently 35 years old.
Let’s walk through some vital financial statistics for American millennials. Then we’ll talk about how we can improve our own financial life to become above average.
Using income data and net worth data from the website DQYDJ, we can see that the average 35-year-old earns $55,000 per year and has a net worth (including home equity) of $130,000.
If we add in data from this Business Insider article, we also learn:
Just under half of American millennials have student loan debt. Roughly 45% of millennials have loans, with an average remaining balance of $40,600.
I’m sure this data skews younger. The oldest millennials are 42 years old, while the youngest are 27. Not only have college costs continued to rise in the past 20 years (affecting younger Millennials more than older), but there’s also the plain fact that older millennials have had more time to pay their loans off.
According to a RentCafe study, 52% of millennials own a home.
18.2 million Millennials now own, or share ownership in, a home, vs. 17.2 million millennial renters (note: this data looks at the 110 largest American metro areas, thus does not include all millennials)
Again, this data likely has an age skew. The chart below shows how millennial homeownership first increased in the early 2000s – when the youngest millennials were still in elementary school. The oldest millennials have had a long time to buy.
That said, 7.1 million millennials became homeowners in the past 5 years (including yours truly). More and more younger millennials are looking to purchase homes.
An important caveat…home ownership might be the so-called “American Dream,” but it’s not mathematically optimal for all people, nor a great investment in general. I’m a huge proponent that your primary home is “a home first, an investment second.” You need a place to raise a family. You don’t need a 7% real return on investment.
According to an older (2019) Pew Research study, fewer millennials are starting families than previous generations. Pew found that 55% of millennial women had had a live birth, compared to 62% of Gen X women and 64% of Baby Boomer women in the same age range.
What does this have to do with personal finance?
First, kids are expensive. Having kids is financially challenging. And not having kids can be a symptom of an already-challenging financial life e.g. “I’m not having kids because I couldn’t afford to give them a good life,” or, “My goddamn student loans were so high we delayed having kids by 5 years.”
Second, birthrates drive economies. Children grow into adults – who work, consume, and oil the economic machine. Personal finance is tied to that economy.
How to Be a Better-Than-Average Millennial…At Least Financially
What can you do to rise above the average?
First, adopt a stoic mindset. If you’re “worse” than average, you’re not a bad person. And whatever happened in the past – those events that brought you to this moment – is immutable. You can’t change it. All you can do is forge on and blaze a better trail ahead.
So let’s blaze that trail.
Salary and net worth are easy-to-measure metrics, so let’s start there.
Improving Your Salary
One of the worst pieces of financial advice I see all too often is, “Did you consider increasing your income?” …as if there are raises hiding in your office cabinets if only you’d look for them!
The better advice, instead, is encouragement that you can increase your income. You just need the right approaches and tactics. What are some examples?
Talk to your manager. Is there a path for increased pay in your role or at your company? Ask them: what does that path look like? Get them to agree that if you follow the path, a pay raise will follow.
More education. Maybe there isn’t a positive path at your current job. It’s a dead end. You need to find ways to get on a better path, and further education is highly effective. BUT! You need start with the end in mind. Get a degree or certification that will truly further your career and your income. Computer science? Yes. Underwater basketweaving? Not so much.
Look outside your current role, too. One of the fastest ways to higher pay is by switching jobs. Or using a potential job switch to negotiate a raise.
Side hustles can work. But choose carefully. I know too many Uber drivers who, if they ran the numbers, would realize their side hustle barely pays them minimum wage.
Getting some inflation-adjusted raises would help, too…
Increasing Your Net Worth
Salary is a one-trick pony. All it measures is incoming cashflow in. Net worth is far more comprehensive, as it’s a function of:
inbound cashflow
outbound cashflow
changes in asset values (e.g. investment growth)
There are many ways to increase your net worth, most of which are within your control today (unlike increasing your salary, which might take years to successfully execute).
Learn from the #1 lesson I’ve found from the various financial experts I’ve interviewed on my podcast:
Measure your cashflow – a.k.a. budgeting. You can’t manage what you don’t measure. The only way you’ll ever decrease your spending is if you measure your spending. You need a budget – it can be detailed, or simple. But you can’t not have a budget.
Follow the financial order of operations. Learn how to prioritize your financial to-do list.
Put in more “work” to combat financial disorder. You’ll need to read this article for context.
Remove the negatives. Personal finance is a “negative art.” Increasing your net worth is more about avoiding mistakes than taking huge steps forward.
Bucket your money, then put it to work. Determine the timeline for the various expenditures in your life, then invest the money you don’t need in the short term.
Take advantage of tax advantages and “free money,” like 401(k) or Roth IRA accounts.
Housing and Kids
How can you be “better-than-average” in terms of housing and children?
If you’re thinking, “Homeowner plus 3 kids is better than renter with zero kids,” I think you’re doing it wrong. Instead, consider the financial (and more importantly, non-financial) acumen that goes into making those decisions.
For example, I think rent vs. buy calculators – like this one from Nerdwallet – are fantastic tools. If the math points you toward renting, then rent. There’s no race to be a homeowner, nor do I think homeownership is intrinsically good. “Better than average” doesn’t apply here.
But I think it’s more important to look yourself in the mirror and be honest with answers like:
How many years do I plan on living here?
Do I love this house? This neighborhood? This school district?
If this home never appreciates in value, am I ok with that?
Or the alternative: Since rent doesn’t build equity, am I ok “throwing my money away” in exchange for flexibility and less responsibility?
Children are even more personal and less financial. The only major financial question, in my opinion, is: do we have the financial means to provide for this child? Every other important question is personal.
Again, there’s no such thing as “better than average.” Instead, I see child-rearing in a binary way: are you giving your children a good home? Or not?
If you are, then you’re doing it right. Whether you have 10 kids or 1, you need to give them a good home. What’s a “good home” vs. a “bad home?” Everyone’s opinion will differ. But you know it when you see it.
Millennials are getting their financial life in order. It’s a wonderful thing. And through smart, patient personal finance decisions, you can carry on to become a “better-than-average” financial millennial. Investing in knowledge is a great place to start.
Thank you for reading! If you enjoyed this article, join 6000+ subscribers who read my 2-minute weekly email, where I send you links to the smartest financial content I find online every week.
-Jesse
Want to learn more about The Best Interest’s back story? Read here.
If you prefer to listen, check out The Best Interest Podcast.
The average millennial is 35 years old, earns $54,000 per year, and has a net worth (including any home equity) of around $130,000
45% of millennials have student loan debt, with an average balance of $40,600
52% of millennials are homeowners, with a majority of those home purchases occurring over the past 5 years
55% of millennials have children, with a total U.S. birthrate in 2021 of 1.66 children per woman (it takes 2.00 children per woman for the population to replace itself, so we might be in trouble there…)
There are simple steps you can take to become better-than-average financially, including focusing on increased income, measuring your monthly cashflows, using tax-advantages investing vehicles, and more.
The Stats
I’m a Millennial. Many of you reading this are too. Millennials – also called Gen Y – are people born between 1981 and 1996. The average millennial is currently 35 years old.
Let’s walk through some vital financial statistics for American millennials. Then we’ll talk about how we can improve our own financial life to become above average.
Using income data and net worth data from the website DQYDJ, we can see that the average 35-year-old earns $55,000 per year and has a net worth (including home equity) of $130,000.
If we add in data from this Business Insider article, we also learn:
Just under half of American millennials have student loan debt. Roughly 45% of millennials have loans, with an average remaining balance of $40,600.
I’m sure this data skews younger. The oldest millennials are 42 years old, while the youngest are 27. Not only have college costs continued to rise in the past 20 years (affecting younger Millennials more than older), but there’s also the plain fact that older millennials have had more time to pay their loans off.
According to a RentCafe study, 52% of millennials own a home.
18.2 million Millennials now own, or share ownership in, a home, vs. 17.2 million millennial renters (note: this data looks at the 110 largest American metro areas, thus does not include all millennials)
Again, this data likely has an age skew. The chart below shows how millennial homeownership first increased in the early 2000s – when the youngest millennials were still in elementary school. The oldest millennials have had a long time to buy.
That said, 7.1 million millennials became homeowners in the past 5 years (including yours truly). More and more younger millennials are looking to purchase homes.
An important caveat…home ownership might be the so-called “American Dream,” but it’s not mathematically optimal for all people, nor a great investment in general. I’m a huge proponent that your primary home is “a home first, an investment second.” You need a place to raise a family. You don’t need a 7% real return on investment.
According to an older (2019) Pew Research study, fewer millennials are starting families than previous generations. Pew found that 55% of millennial women had had a live birth, compared to 62% of Gen X women and 64% of Baby Boomer women in the same age range.
What does this have to do with personal finance?
First, kids are expensive. Having kids is financially challenging. And not having kids can be a symptom of an already-challenging financial life e.g. “I’m not having kids because I couldn’t afford to give them a good life,” or, “My goddamn student loans were so high we delayed having kids by 5 years.”
Second, birthrates drive economies. Children grow into adults – who work, consume, and oil the economic machine. Personal finance is tied to that economy.
How to Be a Better-Than-Average Millennial…At Least Financially
What can you do to rise above the average?
First, adopt a stoic mindset. If you’re “worse” than average, you’re not a bad person. And whatever happened in the past – those events that brought you to this moment – is immutable. You can’t change it. All you can do is forge on and blaze a better trail ahead.
So let’s blaze that trail.
Salary and net worth are easy-to-measure metrics, so let’s start there.
Improving Your Salary
One of the worst pieces of financial advice I see all too often is, “Did you consider increasing your income?” …as if there are raises hiding in your office cabinets if only you’d look for them!
The better advice, instead, is encouragement that you can increase your income. You just need the right approaches and tactics. What are some examples?
Talk to your manager. Is there a path for increased pay in your role or at your company? Ask them: what does that path look like? Get them to agree that if you follow the path, a pay raise will follow.
More education. Maybe there isn’t a positive path at your current job. It’s a dead end. You need to find ways to get on a better path, and further education is highly effective. BUT! You need start with the end in mind. Get a degree or certification that will truly further your career and your income. Computer science? Yes. Underwater basketweaving? Not so much.
Look outside your current role, too. One of the fastest ways to higher pay is by switching jobs. Or using a potential job switch to negotiate a raise.
Side hustles can work. But choose carefully. I know too many Uber drivers who, if they ran the numbers, would realize their side hustle barely pays them minimum wage.
Getting some inflation-adjusted raises would help, too…
Increasing Your Net Worth
Salary is a one-trick pony. All it measures is incoming cashflow in. Net worth is far more comprehensive, as it’s a function of:
inbound cashflow
outbound cashflow
changes in asset values (e.g. investment growth)
There are many ways to increase your net worth, most of which are within your control today (unlike increasing your salary, which might take years to successfully execute).
Learn from the #1 lesson I’ve found from the various financial experts I’ve interviewed on my podcast:
Measure your cashflow – a.k.a. budgeting. You can’t manage what you don’t measure. The only way you’ll ever decrease your spending is if you measure your spending. You need a budget – it can be detailed, or simple. But you can’t not have a budget.
Follow the financial order of operations. Learn how to prioritize your financial to-do list.
Put in more “work” to combat financial disorder. You’ll need to read this article for context.
Remove the negatives. Personal finance is a “negative art.” Increasing your net worth is more about avoiding mistakes than taking huge steps forward.
Bucket your money, then put it to work. Determine the timeline for the various expenditures in your life, then invest the money you don’t need in the short term.
Take advantage of tax advantages and “free money,” like 401(k) or Roth IRA accounts.
Housing and Kids
How can you be “better-than-average” in terms of housing and children?
If you’re thinking, “Homeowner plus 3 kids is better than renter with zero kids,” I think you’re doing it wrong. Instead, consider the financial (and more importantly, non-financial) acumen that goes into making those decisions.
For example, I think rent vs. buy calculators – like this one from Nerdwallet – are fantastic tools. If the math points you toward renting, then rent. There’s no race to be a homeowner, nor do I think homeownership is intrinsically good. “Better than average” doesn’t apply here.
But I think it’s more important to look yourself in the mirror and be honest with answers like:
How many years do I plan on living here?
Do I love this house? This neighborhood? This school district?
If this home never appreciates in value, am I ok with that?
Or the alternative: Since rent doesn’t build equity, am I ok “throwing my money away” in exchange for flexibility and less responsibility?
Children are even more personal and less financial. The only major financial question, in my opinion, is: do we have the financial means to provide for this child? Every other important question is personal.
Again, there’s no such thing as “better than average.” Instead, I see child-rearing in a binary way: are you giving your children a good home? Or not?
If you are, then you’re doing it right. Whether you have 10 kids or 1, you need to give them a good home. What’s a “good home” vs. a “bad home?” Everyone’s opinion will differ. But you know it when you see it.
Millennials are getting their financial life in order. It’s a wonderful thing. And through smart, patient personal finance decisions, you can carry on to become a “better-than-average” financial millennial. Investing in knowledge is a great place to start.
Thank you for reading! If you enjoyed this article, join 6000+ subscribers who read my 2-minute weekly email, where I send you links to the smartest financial content I find online every week.
-Jesse
Want to learn more about The Best Interest’s back story? Read here.
If you prefer to listen, check out The Best Interest Podcast.
Depending on your age, your insurance needs change. As an applicant who is 51 years of age, your needs vary tremendously from that of someone who is younger. There are multiple factors that need to be considered before deciding on which life insurance to settle on.
If this is your second time buying a life insurance policy, you may notice that its’ very different from the last time that you purchased a plan, but it’s no less important at age 51. Life insurance is the single most essential investment you’ll buy for your family, but there are a lot of people in their 50s that avoid buying life insurance coverage.
Determine Your Needs
As a 51 year old you are most likely starting to hunker down on your retirement, your children have most likely left the house, and your home is hopefully close to being paid off. If might even be the case that you have grandchildren at this stage of life. With all of these potential factors in your life it is not surprising that life insurance may not be a top priority. The fact of the matter is that it is still extremely important.
Before you buy an insurance plan, you need to calculate how much life insurance you need, and there are several things you need to account for. The first is your debt. As we mentioned, your house should be close to being paid off, but that isn’t going to be your only debt, or maybe you still have a lot left on your mortgage. All of your debts and unpaid expenses would be passed on to your family if you passed on. You’ll also need to account for any funeral costs or possible medical expenses you could rack up.
You’ll also need to think about your annual salary. Your kids have already moved out, or are close to it, but what about your spouse? Does he/she depend on your income? Would anyone else experience financial suffering? If so, you’ll need to account for replacing your salary.
What Cost Can You Expect at Age 51?
Assuming you are a non-smoker and can achieve a Preferred Plus rate, you are in a good spot to receive top notch insurance at a reasonable rate. The going rate for a 10 year term is $15.26 whereas the going rate for a 20 year term is $25.20. Both of these rates are for a man who is seeking $100,000 of coverage and assumedly good health. Here are some quotes for $250,000:
Sex
10 Year
20 Year
30 Year
Male
Protective – $26.73/month
SBLI – $46.93/month
Banner – $79.84/month
Female
Protective – $22.35/month
SBLI – $35.24/month
Banner – $59.94/month
You may still be of the mindset that you will not need life insurance for the foreseeable future, but there is no telling what health problems you can be faced with in this stage of life. Your body unfortunately starts to deteriorate whether you like it or not, and being proactive and prepared is the best defense against this.
There are several things that you can do to help you get the lowest rates possible. The first is to quit smoking. The sample quotes above are from a non-smoking applicant, if you’re a smoker, you can expect those rates to double, or even triple depending on the company.
Additionally, you’ll need to get in the best shape possible. Starting a good diet and getting regular exercise is an excellent way to lower your blood pressures, lose some weight, and lower your cholesterol. They aren’t quick or easy changes, but committing yourself to a healthier life can save you hundreds.
We give every applicant the same piece of advice, compare plans. With 6,000 insurance carriers, there are plenty of options. Working with an independent agency (like ourselves), is like working with over 50 different highly rated companies. You could spend days calling insurance companies yourself, or you can let us do the work for you. Independent agents not only save you time, but save you money by connecting you with the perfect insurance company to fit your needs.
What Type of Insurance Does a 51 Year Old Need?
There are dozens of options, but as a 51-year-old applicant, not all of them are suitable. The two main kinds are term and whole, but in whole life insurance is going to be drastically more expensive at this age. We suggest people 50 and above buy a term plan.
There are several different types of life insurance that you’ll have to compare. You’ll need to weigh the pros and cons before you make a choice. It’s vital that you pick the perfect policy type to fit your insurance needs.
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What is Term Life Insurance?
At age 51, perhaps the best type of insurance to consider is term life insurance. Not only is it affordable, but it oftentimes covers you for a wide variety of situations and provides you with the peace of mind that is so appealing with insurance.
Term insurance is the most common. It’s simple and it’s cheap, what’s not to love. These plans are temporary coverage, and you can buy them to match your life insurance needs.
Getting the Best Rates
The key to getting the best rates for anyone looking to get over 50 life insurance is to shop around. Instead of you having to go from company to company or website to website, an independent agent will shop all of the available plans and companies in your area.
Rebecca Atwood Designs is seeking a dynamic and experienced Sales Manager to join our team. As a Sales Manager, you will be responsible for executing sales strategies to drive revenue growth and expand our customer base. You will analyze sales performance, develop strong relationships with key clients, and collaborate closely with cross-functional teams to ensure alignment with our brand vision and business objectives. This is an exciting opportunity to contribute to the continued success and growth of Rebecca Atwood Designs.
Key Responsibilities & Accountabilities:
• Execute and help develop strategic sales plans and initiatives to achieve revenue targets and maximize market penetration.
• Travel to top markets for interior designer firm meetings at least once a month.
• Build and nurture strong relationships with key clients, including interior designers and industry professionals, to expand our customer base and secure new business opportunities.
• Collaborate with the marketing and creative team to align sales efforts with marketing campaigns and line expansion opportunities.
• Drive the development and execution of effective sales presentations and emails.
• Analyze sales data, generate monthly reports, and provide insights and recommendations to the VP of Sales & Marketing on sales strategy performance, trends, and opportunities.
• Learn about market trends, competitive landscape, and customer needs to identify new sales opportunities and areas for growth.
• Stay up to date with industry developments, emerging trends, and best practices in sales.
• Represent Rebecca Atwood Designs at industry events and networking opportunities to build brand visibility and forge partnerships.
• Travel to our headquarters in CHS bi-quarterly for team meetings.
Qualifications:
• Bachelor’s degree. A degree in business, marketing, or a related field is preferred but not necessary.
• Proven track record of success in sales roles, preferably within the design, home decor, or related industry.
• Strong understanding of the design and home decor market.
• Exceptional communication skills, both verbal and written.
• Strategic thinker with the ability to execute sales strategies and develop new ones.
• Analytical mindset with the ability to analyze sales data and market trends to identify opportunities.
• Self-motivated and results-oriented, with a passion for driving sales growth.
• Strong interpersonal skills, with the ability to build and maintain relationships with clients and internal stakeholders.
• Flexibility to travel as needed for client meetings, industry events, and trade shows.
Email the following to [email protected] and include your name and “Sales Manager” in the subject line:
• Your resume
• Cover letter
• Any relevant work samples demonstrating your sales achievements and industry knowledge.
• What product category you are most looking forward to selling and why
We look forward to reviewing your application and exploring the possibility of having you on our team!
At Rebecca Atwood Designs we inspire through design. By creating patterns and palettes that activate and reflect people’s interior worlds, we invite them to experience the deep pleasure of finding expression in their environment.
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.
Zero based budgeting is a process where every dollar that comes in goes to the number one priority.
It’s an effective way of prioritizing your money and executing properly, but it can be hard to know where to start when you are just getting started with this new system.
Budgeting can be a nightmare when you don’t have the mindset and tools to make it easier.
So many people struggle with money- they are overspending on things their family doesn’t need or doesn’t enjoy, which causes stress in their lives. But if your goal is financial freedom, it’s time to learn about a new budgeting system.
If you have a desire to:
Spend less than you make
Get out of debt
Save money faster
Become financially independent
Then, you are in the right place! Let how easy and simple zero based budgeting really is!
Decide what you want your budget to achieve: a zero-based budget forces you to think about what you want your money to do, rather than just accepting the status quo.
If you want to use zero based budgeting but aren’t sure where to start, this article will guide you through setting it up in an easy and effective way.
What is zero based budgeting?
Zero based budgeting is a financial planning strategy where every dollar in the budget has a specific purpose. With this type of budget, it can be helpful for those looking to get their finances in order or who want more control over their spending.
A zero based budget is when you start from scratch every month and assign every dollar a job.
Income – Expenses = $0
You begin by calculating your income for the month, then subtracting your known expenses. What’s left is $0, which means you have to get creative with how you’ll spend the rest of your money.
You can use a zero based budget template to help make this process easier.
What are the benefits of using a zero based budget template?
There are many benefits to using a zero based budget template.
Perhaps the most obvious benefit is that it allows you to see where every penny is going. This comprehensive view gives you a clear picture of your expenses and makes it easy to identify areas where you can cut back on spending.
In addition, using a zero based budget helps individuals worry less about their financial health. Since all living expenses are accounted for in the budgeting process, there is no need to panic if an unexpected expense pops up. This peace of mind can be very helpful when trying to stick to long-term financial goals.
A zero based budget template is also easy to follow. The basic plan can be executed without any difficulty, making it a great choice for people who want a simple way to manage their finances.
How to create a zero based budget template?
A zero based budget template can be helpful in tracking your money and achieving financial goals.
There are a variety of ways to create a zero based budgeting template, and no one size fits all approach. That is why we offer a zero based budget template in our shop that you can modify to your needs.
There are a few key things you’ll need to create your zero based budget template. The first is a list of your monthly income, expenses, and savings goals for the year. This will help you stay on track and plan ahead.
The next step is to individually itemize each expense and income. This may be time-consuming but it’s crucial in order to get an accurate picture of where your money is going.
After that, it’s important to track your spending and income on a monthly basis. This will help you see if you’re meeting your goals or not.
It is important to choose the proper zero based budgeting template for your needs.
What are the 5 steps in creating a zero based budget?
There are five steps in creating a zero-based budget. This system was made popular by Dave Ramsey.
We will quickly outline the five steps to make your first zero based budget. Then, we will go into detail on creating your own zero based budget.
List your income
List your expenses
Subtract your income from expenses to reach zero
Track your expenses.
Make a new budget for the next month or pay period.
One way to ensure success by following a zero based budget is by taking small steps instead of making large changes all at once–this can be difficult for some people who are used to living paycheck-to-paycheck.
Another suggestion is to allow yourself some “fun money” so that you don’t feel too restricted while trying to adjust your spending habits.
By following these tips and using a zero based budgeting template, you can successfully get yourself back on track financially!
How to Create a Zero Based Budget
Zero-based budgeting is a system of budgeting that has been gaining in popularity since the introduction of personal computers and spreadsheets. It encourages decision-making based on values and not numbers, which is important in a time when numbers are often used to make decisions.
Zero-based budgeting allows you to start with a clean slate and create your own vision of what the future looks like.
You will need to gather all of your financial information together, including your income, debts, and expenses.
Step # 1: List out your income
The first step in creating a zero based budget is to list out all of your income.
This should include job income, side hustles, rental properties, alimony, child support, and investment income. Once you have a complete picture of your income sources, you can start to make decisions about how to allocate your money.
It is important to decide how you plan to budget your money on a monthly basis, bi-weekly basis, or by paycheck.
Step #2: Tally up your expenses
Be sure to include any regular expenses you have as well, such as rent or mortgage payments, car loans, and credit card bills.
Think of all of the budgeting categories you need for absolutely everything.
This will help you track your spending more closely and make it easier to find areas where you can cut back. Some people recommend creating as many budgeting categories as possible, including for example:
Housing
Utilities
Food
Transportation
Entertainment
Health care
If there’s something that doesn’t fit neatly into a category, come up with a name for it that will help you remember what it is. For example, “clothes” or “misc.”
You’ll also need to factor in any debts you may have.
Step #3: Get your budget to zero
Once you have a full list of your expenses, it’s time to subtract that amount from your income. Then, figure out if you are close to zero.
This is where you will likely have to make adjustments.
There are two ways to get your budget to zero- either spend less than you make (aka cut spending) or make more money.
If you want to stay out of debt and save money, it’s important to do one or both of these things. It may be difficult at first, but with a little bit of effort, you can get your budget under control and start saving for the future.
Budgeting is an extremely important tool to have in your financial arsenal. It allows you to have more control over your money and can help you make more of it. By following a few simple steps, you can get your budget to zero and start saving for the future.
Step # 4: Track your expenses
In order to be successful with a zero based budget, you have to be willing and able to track your expenses. This means being mindful of every penny that goes in and out of your account – ALL month long!
By tracking your expenses, you’re ensuring that every penny goes into the right place. This enables you to see where your money is going and how you can save in specific areas.
Expenses tracking apps allow you to easily record, categorize, and analyze your spending. They let you see how much money you spend on different categories of items from groceries to travel and more. Some of the most popular apps are Simplifi, You Need a Budget, and Qube Money.
This also makes tax season less daunting because you’ll have a complete record of all of your transactions.
You can also use this information to refine a realistic budget that works for you.
Step # 5: Make a new budget for each month or paycheck
Creating a new budget every month is an important part of zero based budgeting. This helps ensure that you are always aware of your current financial situation and can make changes as needed.
It is best to create your budget before the month begins, so you have time to adjust as necessary.
A zero-based budget is a great way to get your finances in order. It can be tough to stick to, but it’s worth it because it forces you to pay attention and make adjustments.
This is why the budget by paycheck method has gained popularity in conjunction with the zero based budgeting system.
Tips to Make Your Zero Based Budget Successful
It can be difficult to stick to a budget, but there are ways to make it happen.
Here are a few quick budgeting tips:
Make a list of your necessary expenses and stick to it.
Cut back on unnecessary spending.
Live within your means.
Find cheaper alternatives to your regular expenses.
In addition, here is what you need to make sure your money is spent where you want and not following the status quo.
You need to learn which payment type is best if you are trying to stick to a budget.
Know your End Goal
What do you want your money to do for you?
Too many times, we let life dictate how and where we want to spend money. Then, we are always chasing from behind.
To truly make your money work for you, decide on three core areas you want to spend your money. Then, make your budget reflect those values.
Understand the Flexibility of Zero Based Budget
Zero-based budgeting is a great way to stay flexible with your finances. There are no set rules to follow, and you can adapt as your life changes. The goal is to always be mindful of your spending and make sure that every penny counts.
Unexpected expenses are going to pop up from time to time, so it’s important to have some flexibility in your budget. That way, you can handle these unexpected costs without breaking the bank.
Put Most Important Expenses at the Top
When creating a zero based budget, it is important to start with the most important items and work your way down.
This ensures that you do not miss any essential expenses and that you are able to stick to your budget. It is also important to be realistic about what you can afford and to make sure that you are flexible in case of unexpected expenses.
Put in a Cushion or a Buffer
When starting a zero based budget, it is important to be realistic about what you can and cannot do.
Some people find it helpful to have a cushion in case of unexpected expenses, while others prefer to keep their spending as low as possible. It is important to find what works best for you and stick to it.
Additionally, remember that your goal should be to live within your means, not spend less than you make.
Look Ahead
When creating or following a zero based budget, it is important to be mindful of any upcoming events that may require more money.
This includes things like holidays, birthdays, and special occasions. If you know these events are coming up, you can plan for them in your budget and make sure you have the funds available.
Check out ideas for bill calendar strategies.
Sinking Funds
One of the most important things to remember is that you need to plan for big-ticket items and one-off events. This can be done using sinking funds.
Sinking funds are special savings accounts that are specifically designated for planned expenses.
You put money into the account over time until you have saved enough to cover the expense. This allows you to avoid breaking your budget when something unexpected comes up.
Learn how to use sinking funds.
zero based budgeting Example
Zero based budgeting is a way of organizing your finances in which you spend money only on things that have an actual impact on your financial situation.
This method can help you stay mindful of how much you are spending and where it is going.
It can also help you to make better decisions about what needs to be paid off, saved for, or invested in.
Here is a basic zero based budget example:
Can You Make a Zero-Based Budget With an Irregular Income?
Zero-based budgeting is an excellent way to manage your finances when you have an irregular income.
Regardless of how much money you earn each month, you can create a budget that will help you save money and make the most of your income. With a zero-based budget, every penny has a purpose and you can be sure that you are making the most of your resources.
It is also helpful to “age” your money by at least one month. That means your April income will be paying your May bills.
The Best Zero Based Budget Templates and Apps
Zero-based budgeting is a methodology of budgeting that starts with the assumption that how much one has at the beginning of each period should be used to purchase only those things needed. This is different from the traditional budgeting practice of starting with how much one has at the end of the last period and using that as a basis for what needs to happen during the next period.
There are a number of zero-based budget templates and apps that are available on the internet. The following seven are some of the most popular:
1. Tiller Money
Tiller Money is a budgeting app that allows you to create a zero-based budget. This means that every dollar in your budget has a specific purpose.
It has a “Foundation Template” feature that allows expenses to be budgeted against goals in order to make sure the amount of money actually spent is at a minimum.
This allows you to create a zero based budget quickly and easily.
You can try Tiller Money for free for 30 days, and the annual cost is $79.
2. Simplifi by Quicken
Simplifi by Quicken is a budgeting app that takes a different approach to budgeting.
Rather than starting with your current income and expenses and trying to adjust them, Simplifi starts with your savings goals and works backwards. This can be helpful for those who have trouble sticking to a budget because it allows you to focus on your financial dreams rather than your current spending habits.
You can set up your own categories, limits, watchlist, and spending plan.
It offers all of the features of Quicken with the added convenience of being able to access it on your phone or tablet.
Another thing that makes Simplifi stand out is that it is ad-free (unlike Mint), which can be helpful if you are trying to stay focused while budgeting.
Enjoy your first 30 days free and then pay as low as $3.99 per month.
3. Qube Money
Qube is an app that helps you create intentional, smart spending habits.
With Qube, you have the freedom to manage your money with real purpose. Qube helps you stay on top of your finances by giving you a clear picture of where your money is going and how much you have leftover each month.
Qube Money is a budgeting tool that helps you manage your money by automatically ledger transactions and allowing you to divvy up your money into qubes. This makes it easy for you to see how much money you have in each category and click to spend.
Get started with Basic for free with 10 qubes. Upgrade to Premium for $6.50 per month.
4. YNAB
You Need a Budget (YNAB) is a popular method of budgeting that requires you to spend money from the previous month’s income. They stress “aging your money” to break the living paycheck to paycheck method.
Each month you start from scratch each month, accounting for all of your income and expenses.
YNAB is best known for its awesome support community and training.
It offers a free trial for 34 days, after which it costs $84 per year.
Best Zero-Based Budget Template For Debt Payoff
It is useful to make a debt payoff plan that starts from the zero level. This will allow you to track your progress and adjust your budget as necessary.
Using Tally is a great tool when paying off debt.
Time for you to Start with the 0 Budgeting Method
A zero based budget is a financial planning strategy where every dollar in the budget is assigned a purpose. This differs from traditional budgeting where the focus is on last month’s spending and last year’s income.
With a zero based budget, you start fresh each month and assign every dollar a job or responsibility. This way, you can ensure that your money is being put to its best use.
When you use a zero based budget template, you are able to track every dollar that you spend.
This comprehensive view gives you a clear idea of where your money is going and where you can cut back on spending. Additionally, using a zero based budget template makes it easy to see if there have been any areas where you could save money.
The best part is you are comfortable knowing that all of your living expenses are accounted for.
This means that you can spend money without worrying about jeopardizing your financial health.
Know someone else that needs this, too? Then, please share!!
Inside: Trade and Travel is a legitimate investing course to learn how to make money in the stock market. See my personal view as a student.
I have been in the personal finance industry for a long time and have watched gurus with CFP and many more designations struggle to make money consistently in the stock market.
There are many concepts on how to trade the stock market.
Teri’s IWT system works.
It’s legit.
I’m a part of her investing course. I have seen the results. $1000 a day club in my LIVE account. Yes.
So, you get to read my Invest with Teri review first.
Teri is able to break down investing into the stock market like no one else I have seen.
You can read a book or blog and find many different concepts that work for them. Then, walk away with your head spinning and quit on the idea of trading and lose a bunch of money along the way. This is why most people leave it to professionals (which is a mistake with that pesky 1% asset management fee).
The Invest with Teri Method is a 7 Step Process that simplifies how to invest in the stock market.
She goes into detail on each of the seven steps to make sure you pick the right companies, limit your risk, know when to buy, and when to take profit.
Plus you have access to a private Facebook group and countless hours of coaching calls to really understand the IWT method.
This is how I am choosing to finance the life I want.
Okay, now that we got that out of the way… let’s dig into the details of the Invest with Teri review and learn how to travel and travel.
This is what you want? Right?
Make more money and have more time freedom.
Enough sitting on the sidelines… read this IWT review and then sign up today.
Honestly, if you have any money in the stock market, you need to take this course to understand the fundamentals.
This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.
What Are Online Stock Trading Classes?
If you’re interested in taking stock trading classes, there are a few things to consider before jumping into the world of investing. Stock trading is an investment that can be profitable if done correctly and is a way to grow your money.
Stock trading courses are a great way for newcomers to learn about the stock market. Also, courses are fantastic for those who want to refine their investing skills or maybe stop the bleed of money from trying on their own.
The Invest with Teri Ijeoma course provides a more structured learning path and can help you avoid some of the common mistakes made by novice traders.
In order to get the most out of a stock trading course, it is important to find one that matches your individual needs and goals. Plus one that can offer support and guidance because learning to trade is a learning curve.
Who Should Take Stock Trading Classes?
It is possible to learn the ins and outs of stock trading on your own without taking any classes.
However, for those who want a more structured learning experience, or for those who want to have access to a community of traders, stock trading classes can be a great option.
Taking stock trading classes can be a great idea for people who are interested in getting into the industry. The stock market is one of the most popular industries to get involved with, so it is likely that you’ll want to pursue a side hustle that may lead to a career in this field.
There are many different types of stock trading classes available, so it is important to do your research and find the one that best suits your needs.
Even if you are an index fund investor doing it on your own, this investing class is great knowledge to understand how the market works beyond “I hope it keeps going up.”
Must Read: How To Invest In Stocks For Beginners: Investing Made Easy
Trade and Travel 2.0
Right now, Teri and the rest of her coaches are doing a MAJOR overhaul on the signature course.
Her design team is currently working really hard to create an updated look and feel so you can experience Trade and Travel even better than before.
However, there will be changes – some we know about and some we don’t.
What we Know Today:
A significant Price increase happened (like double to $10k)
Shorting and gaps will be included in the main Trade and Travel course.
Limited time support on coaching calls. (However, a subscription model for additional coaching will be available.)
What You’ll Learn in the Trade and Travel 1.0 Course
The Trade and Travel course is an online course that will teach you everything you need to know about the world of trading, and more!
First of all, Invest with Teri along with Trade and Travel are used interchangeably. They are both the same AMAZING course that will teach you to make money in the stock market.
You will learn the Teri Ijeoma trading strategy.
The Invest with Teri 1.0 course is divided into two sections:
Travel & Travel – This is the basic course to understand fundamentals and to learn how to make money as the stock market goes up.
VIP Program – This is an advanced course that covers shorting, gaps, and options.
The great news… you can start with the basic Trade & Travel program and upgrade to VIP at a later date.
If any of this sounds foreign to you, Teri is one of the best teachers I have ever met. She breaks break down investing in the stock market like no one else I have seen. She is able to take difficult concepts and make them easy.
Simply put, Teri offers a course that teaches you everything you need to know about investing.
Later, in this Invest with Teri review, I will detail the difference between the two courses and what you will learn.
Teri’s Purpose of Trade and Travel – Financial Independence
The purpose of the course is to help students learn how to generate wealth.
Students can use the extra income earned from the course to supplement their income, pay off debt, or save so they can solidify their financial independence.
There is no doubt that in order to achieve financial independence, you need to invest in yourself. This means learning new skills, working on your mindset, and making smart choices with your money.
With a positive attitude and a determined spirit, anything is possible!
Want to Learn More about Investing?
How do you trade with Teri?
The privilege to have one-on-one coaching with Teri herself is very rare. However, she is known to offer group mastermind sessions for her VIP students.
So, in order to trade with Teri, you must enroll in the full $5000 course and wait for the next opportunity to trade with her.
Trade And Travel Program
The Trade and Travel program is the fundamental part of the investing course. This section will teach you the basics of the stock market and how to make money on the way up.
Teri’s trading strategies focus on risk management and she has seen many of her students achieve success with trading.
To be upfront in this Trade and Travel review, you will learn:
Learn how to pick stocks
Understand how the stock market works and how you can make money off it
Recognize why risk management is the most important aspect of trading
Understanding how to read charts
Learn the best places to buy and sell a stock could be
Be able to tell the story of the candles
Understand if your stock trade has a strong likelihood of being profitable
Determine how many stocks to buy based on your risk tolerance
How to place a trade at your brokerage
Manage your trade and exit based on your trading plan
That is a highlight of what you will learn in the basic Trade and Travel program.
Trade And Travel VIP Investor Program
The VIP program is the advanced piece of the course once you learn the fundamentals of the Trade and Travel program.
For those looking to upgrade to the VIP program, you will learn:
Make money when the market goes down.
How does shorting the stock work
When to look for gaps and what they mean
What is globex?
Options! This is everyone’s favorite part of the course!
Understand how to make money with option contracts
Risk management with options
Plus so much more!
Plus you can rewatch all of the curriculum and coaching calls over and over until you get it. That aha moment!
Both Travel & Travel and VIP offer live zoom training each week. Plus there is a vault of recording coaching calls to review.
Supportive Trading Community
Teri has built a supportive trading community of fellow students who have gone through the course.
Each trade cuzzin offers encouragement, advice, moral support, and feedback to each other.
This supportive community can help people overcome their anxiety and doubts when trading and investing.
You can find this supportive community on Facebook groups, Telegram groups, Clubhouse clubs, local meetups in your city, and people have connected to create a mastermind group. Honestly, there are plenty of people available to make sure you are successful on your journey.
Don’t forget… There are weekly live calls and chart parties.
This is how many people have turned 10k into 100k.
My Personal Trade and Travel Reviews
This is one of the best educations I have received.
My biggest regret is that I did not enroll in the course sooner (same as the time before I upgraded to VIP).
In all honesty, this course is a better education than spending hundreds of thousands on a college degree.
Personally, I meet Teri during FINCON, a huge conference for personal finance content creators and brands.
I loved how Teri spoke during her presentation and quickly reached out to learn more about her Invest with Teri course. Also, I was intrigued by the $1000 in a day club.
As always, I investigate every single company or platform that I recommend.
Obviously, this course has an eye-shocking price tag when you first see it. However, once you start earning your money back, you quickly realize how undervalued her course is.
As I always tell my readers… if I wouldn’t put my time, energy, or money on the line, then I am not going to tell you about it. I will only recommend products, services, and courses only that I truly know that work.
My View as a Trade and Travel Student
After a few months of debate if I could afford to spend the money on this investment course…
I became a Trade and Travel student in February 2021.
As outlined above, the course is jam-packed with information. I thought with my background in personal finance I would have a leg up over the others. However, I quickly learned that I need to view the stock market from Teri’s point of view and put blinders on to others’ opinions or styles of trading.
There are a ton of ways to make money in the stock market. This is one of them.
You can google and probably find many more investment courses and rabbit holes to follow. Investing is one of the most popular Reddit Personal finance topics. People want to learn to trade and most are looking to be fed information.
You have heard that saying, “teach a man to fish and he will never go hungry.”
The same holds true for completing this course, “Teach a trader to make money and you will be more profitable than your dreams.”
The best thing about life is you get to decide what you want to do, spend your time, and budget your money. Investing in this course is a big pill to swallow and I get it. However, I would not be so adamant about telling others about this course since I see a path for people to stop the stress with money.
I am successful with trading. Now, it is your turn to become successful.
This is by far the best investing course I have ever seen. 1000% recommended by me personally.
$1,000 In A Day Club
Here is proof. I made the $1k club in my live account and $10K in SIM.
I am a part of the trading community.
What exactly is the $1000 in a day club?
This exclusive club is for those traders who have made over $1k in a day.
Many IWT traders have received this plaque and part of this $1000 in a day club.
If you want to invest money and make $1000 a day this is how to start.
This is how I am choosing to finance the life I want.
Get one step closer to reaching your dreams and financing your life!
How Long Does It Take to Learn to Trade Stocks?
The time it takes to learn how to trade stocks depends on your personal learning style.
It typically takes 2 to 3 years to learn how to trade stocks.
By taking an in-depth course, you can shorten your learning curve.
Teri’s Approach to Learning to Trade Stocks
More importantly, the results you see trading stocks will depend on the effort put in to learn the curriculum, manage the trade, minimize your risk, and prepare your mindset.
Teri’s goal for her student is to earn 1% of our capital consistently.
This is not a get-rich-quick scheme. You have to put in the hard work to reap the benefits (aka profit).
For example, some people learn better by reading and others prefer watching videos. Some people may find that they learn best by following an instructor in a live trading room.
Who is Teri Ijeoma?
How many years of trading experience does Teri have?
Teri Ijeoma has over 10 years of trading experience.
Once she left her job as an elementary school assistant principal, she took off to travel the world. Those around her started asking questions and she taught her first group of students in Thailand.
Teri enjoys enlightening people on investing strategies and is passionate about building wealth.
Combining her trading experience with her teacher background, Teri is a talented educator in the investing world.
Teri has been featured on Forbes, NBC, CBS, ABC, Black Enterprise, Yahoo Finance, Business Insider, Fox News, Comcast – just to name a few!
She thrives by teaching others how to invest, so they can afford the life of their dreams.
Teri has made significant amounts of money through trading and is motivated by helping others achieve success.
Check out Teri discussing her $1,000,000 in a day profit. Yes, one million dollars in a day!
I’m scared to lose my real money trading. Can I still take the course?
Don’t want to risk your money, but are curious?
You can practice in a simulated account before you move to real money. Then, you can make mistakes. Learn from those mistakes. Understand how the stock market moves. Make wins.
The bottom line you can make real money in the stock market. You just have to be armed with knowledge and a trading system that works.
That is why most people lose money in the stock market! They don’t understand how the stock market works. They have poor risk management strategies and tend to select the wrong companies to trade with.
In the Trade and Travel course, you will walk away with so much investment knowledge and support from other people in the course to be successful.
Afraid to trade individual stocks? Teri’s process works with ETFs too!
Is Invest with Teri Reviews Reddit? Is this a scam?
As with any popular r/personalfinance thread, this is one that comes up often…is Invest with Teri legit?
There is a lot of mixed information on the web when it comes to Invest with Teri.
Some people have had great experiences and made a lot of money, while others have had negative experiences and lost money.
Since I have been forthcoming that I am a student of her course, I would recommend active trading as a way to supplement your income.
However, you must be willing to put in the time and effort to see the results.
And honestly, that is where most people give up because you must put in the effort.
At Invest With Teri, they believe anyone can learn how to invest and generate income through investment. They offer a variety of courses on how to invest, as well as a community of support to help you get started.
Their program has helped people from all backgrounds achieve their financial goals.
Did this Trade and Travel Review Convince You?
Teri Ijeoma is a millionaire trader and coach who shares her tips and tricks for success.
Trading is a skill that can be learned, and with the right education, anyone can do it successfully.
Trading is not a get-rich-quick scheme – it takes time and effort to learn.
Don’t waste your time or money on being a self-taught trader. Take a course from an expert.
I am part of this trading community and so excited to be a trade cuz!
Start building another income stream for yourself.
Invest with Teri Ijeoma teaches you how to make a lot more money than you currently are. Very possibly, trading can help you replace your current income or even exceed it
To be successful, you need to invest in this investing course, develop a solid trading plan and stick to it.
Get one step closer to reaching your dreams and financing your life!
Be the first to know when Teri releases a coupon code for her Invest with Teri course.
Do you have an Invest with Teri Coupon?
It is VERY rare that Teri puts out a coupon code.
However, if she does, I always notify my email list who have been on the fence about enrolling.
Typically, these coupon codes are valid for a limited time only.
Trade and Travel FAQs
Obviously, you are doing your due diligence before enrolling in this course, which I completely understand. I did too! I spent a lot of time researching prior to enrolling in this course.
Here are answers to the most asked questions about Invest with Teri, Trade and Travel, VIP program, as well as Teri Ijeoma.
Is the Trade and Travel course for new investors?
Yes, the Trade and Travel course is for both new investors and experienced investors.
Honestly, you are more likely to lose money in the stock market by trading on your own rather than spending money on the best investing course available.
The course is designed for everyone, regardless of experience level.
There are different courses available within the program for more advanced students (like shorting and options).
How long does the program take to complete?
You can complete the course within a weekend if you binged watch everything.
However, it takes 8 weeks to thoroughly go through the curriculum.
The main Trade and Travel course is broken down into sections, and modules include videos, tutorials, pdf worksheets, quizzes, and more.
The course instructor, Teri Ijeoma, estimates that it will take 8 weeks to complete the online course material before you begin trading.
In addition, there are plenty of coaching calls, which are filled with gems of information that you can watch.
This investing course is much like obtaining a college degree. The more you study, the better results you will have.
What will I learn in Invest with Teri course?
You will learn how to trade stocks and options based on her Invest with Teri method.
This is a solid, effective investing strategy.
Learning how to effectively trade stocks and make 1% consistently is the goal. This is higher than the market returns on any given day.
How much does Teri ijeoma course cost?
The cost of the Trade and Travel 2.0 course is $10000.
In addition, there is a payment plan available that allows you to pay in installments which is a great option without interest or hidden fees.
Honestly, this investing course is undervalued given the amount of knowledge you will gain.
Is there a payment plan?
Yes, there is a payment plan.
This is a great way to invest in the program with an affordable payment plan based on what you can pay today.
Right now, you can start the course with Payment Plans as LOW as $208/Month.
Can I purchase the Trade and Travel course and upgrade to the VIP program later?
Yes, you can always upgrade to VIP and pay the $2,500 difference. This is something you can do at any time.
I purchased the course to learn the basics and when I made money to pay for the VIP course I upgraded. Many students have done the same.
My gem of advice… eventually, you need to upgrade to VIP to fully understand the chart analysis as well as make money on the way down.
How much money do I need to start trading?
Many students start with $500.
This question is very difficult to answer because it depends on your personal finance situation and the type of trading you want to do.
The best advice is to start small and grow your account.
Trading stocks and options come with risk as such you must recognize that it is possible to lose all of your trading money.
Personally, I recommend starting with the amount you are comfortable losing. For me, I started with $3000.
Again, you do not need a lot of money to start trading. Check out this interview with Chris Calvin (aka Trade with Coach). He started with $500 and quickly grew it to 5 figures!
What trading platform does Teri Ijeoma use?
In her Trade and Travel course, she reveals which brokerages she has used in the past.
Right now, she is known to use Tradestation.
Recently, in her 5 Day Take the Trade Live Challenge, she set up a brokerage account with TD Ameritrade.
Do I have to attend coaching calls live?
You don’t have to attend coaching calls live. Also, all of the live trainings are recorded except the weekly Trade and Travel Q&A.
By attending a live coaching call, you have the opportunity to ask questions and get help from the instructor.
You can access the class recordings at your convenience once the coaching call is uploaded.
Personally, I attend the VIP coaching calls live to get the best out of the experience.
Remember, if you miss a class, you can always watch the recording later. You will have lifetime access to the coaching call recordings.
How long do you have access to the curriculum?
LIFETIME ACCESS!
You will have lifetime access to the curriculum.
That is pretty amazing to have these resources available forever.
You can review the curriculum as many times as you like.
Personally, I have gone back and reviewed many modules and coaching calls again (and again).
Is there a Facebook group? How long do you have access?
In fact, there are two Facebook groups for students that are run by the IWT coaching staff.
One Facebook group focuses on the general IWT method and the other is specific to VIP strategies.
In addition, there is a Trade and Travel sponsored Telegram group.
These Facebook groups are a great way to connect with other students and to learn from each other.
You have access to the group for as long as you are enrolled in the course.
What’s Teri’s Instagram handle?
First of all, there are so many fake accounts for Teri Ijeoma, Invest with Teri and the Trade and Travel Course.
Teri’s real account is @teriijeoma
Beware of imposters accounts and scams.
Can I share my course log-in information with others?
No, this is not allowed.
Each person should purchase the course separately.
The only exception is you can share with your spouse.
What is the refund policy?
According to their policy, refunds are not available for any of their courses. (You can read that here).
However, they do not want unhappy students or I don’t want unhappy trading cuz.
So, if you need additional assistance, reach out to their support team at [email protected] and one of the fabulous coaches will assist you.
Honestly, this makes 100% sense as a student. There is so much knowledge and information in the course that it is not surprising.
If you truly put in the time and effort, you will see success. You have to put in the work though.
Just a reminder… trading is a risky investment if you don’t know what you are doing. You can lose money in the stock market.
Know someone else that needs this, too? Then, please share!!
Okay – your flight’s booked, you’ve requested time off from work, and your family knows you’re going. The bare essentials for going on your trip are done.
Even so, you have this nagging feeling like there’s some more… adulting to do before you leave.
Indeed, there are definitely a few additional steps you’ll want to take before your big trip to ensure your personal finances stay taught and tidy while you’re adventuring abroad.
(P.S. I traveled to 41 countries in my 20s, so please enjoy learning from my mistakes!)
What’s Ahead:
1. Let your bank and credit card company know that you’re traveling
Setting a “travel notice” with your bank is a quick win and can be done in a single phone call. Some banks will even let you do it from your online dashboard.
When you set a travel notice, you’re essentially telling your bank: “hey, I’ll be in Bolivia in August – so if you see a charge from a hostel in La Paz, that’s not fraud – that’s just me.”
Without a travel notice, your bank will typically block your account until they hear confirmation that it’s just you. This could leave you in a sticky situation – you may be unable to withdraw cash, buy food, or check into your accommodations until you call your bank.
So, be sure to set a travel notice so your bank doesn’t flip out when you try to buy your first cuñape.
2. Download banking and payment apps
After visiting 41 countries, I’ve learned one universal truth about group travel: money changes hands between you like the trading floor of the New York Stock Exchange.
Restaurant tabs and outdoor market negotiations quickly devolve into a humbling frenzy of open wallets, wads of cash, and grown adults counting on their fingers.
“Oh, shoot – can anyone spot me twenty Euros?”
“I’ve got plenty of pesos if anyone needs any.”
“Does anyone have an extra 5,000 Yen for the tip?”
At the end of the day, sipping Sopporo at the hostel, you’ll need to settle your tab with your cohorts – and that’s when having your banking and payment apps pre-installed is a godsend. Not only do Zelle and PayPal automatically convert to the recipient’s currency, but they also save you a nighttime trip to the ATM – which can be expensive and dangerous.
Read more: Make Paying Easier With The 10 Best Payment Apps
3. Get a budgeting app to help you stay on track
In addition to a payment app, it’s helpful to have a budgeting app while you travel so you can stay on track with your financial goals.
On a more personal note, establishing a budget before your trip and sticking to it takes a ton of the stress and guilt out of travel. Take it from me, when you’re traveling on a budget, without a budget, every nonessential expense can come with a heaping side of guilt.
Another five euro beer in Bavaria? I probably shouldn’t.
This beautiful painting of Ha Long Bay that’s only $30? Ehhh…. not when I’m between jobs.
Not knowing how much you’re allowed to spend when you’re traveling can be a huge buzzkill. But conversely, once you set a budget, your mindset shifts and you feel much more confident and relaxed in your spending:
I can safely afford three craft beers tonight.
Even if I buy this beautiful painting, I’ll still have $220 left in my art budget!
So I passionately suggest establishing a budget before you head overseas – it’s low-key the #1 stress reliever before a big journey!
Read more:9 Best Budgeting Apps To Take Control Of Your Finances
4. See what travel perks and insurance you already get with your rewards card
Sure, 2% cash back rewards are great – but did you know that your credit card might also include up to $25,000 worth of trip insurance?
It’s a lesser-known perk of many rewards cards, but yes – many credit cards these days include travel-related insurance and coverage including:
Trip Delay Reimbursement. Delay coverage would reimburse you for extra expenses due to a delay, like hotels/meals after a canceled flight.
Trip Cancellation/Interruption. This is the big one; if you or even just someone in your family misses a trip due to sickness, a death in the family, severe weather, or even jury duty, your card could cover your trip for up to $25,000.
Baggage Delay.If your bag is delayed by at least 12 hours, your credit card company will actually reimburse you for typically around $150 of clothes and toiletries to get through the day.
Lost Luggage Reimbursement.If your bag never arrives, your card company could cover the replacement cost of your luggage plus contents, usually up to $500 or $1,000. You should know, however, that by law airlines are required to reimburse you for up to $3,500 for lost, damaged, or delayed luggage.
Travel and Emergency Assistance Services.Stuck in a foreign country with a canceled flight? It may not be your first impulse, but calling your card issuer can actually save the day. Many credit card companies have 24/7 travel concierges that can help you make emergency travel plans.
Emergency Evacuation and Transportation Coverage.Finally, and this one became more common during the pandemic, if you incur hotel/transportation costs during an emergency evacuation, your credit card may cover it.
Head online and read your credit card’s cardholder agreement, top to bottom. That’ll give you an idea of the perks included, which could save you tens of thousands of dollars under the right (unfortunate) circumstances.
5. Get traveler’s insurance
Whether or not your card includes some trip insurance, you’ll still want to consider plugging any sensitive gaps. Travel insurance is cheap, relieves a ton of stress, and some consider it to be essential.
There are three types of travel insurance:
Financial travel insurance covers your trip itself, and may already be covered by your credit card. It includes trip cancellation/interruption coverage, baggage delay reimbursement, and more.
Medical travel insurance covers you during your trip and includes your medical bills for emergency evacuation, basic healthcare, etc. Even if you’re traveling to a country with affordable out-of-pocket healthcare, the U.S. State Department reminds us that medical transportation costs can reach $100,000 alone.
Comprehensive travel insurance quite simply includes both Financial and Medical travel insurance.
I know, when you’re budgeting for a trip, purchasing $50 to $300 or so worth of insurance that you might not even use feels like a frustrating tax.
But think of it this way – even if you never end up using it, travel insurance still has a tangible benefit – every day, it removes stress from your trip. For a couple of hundred bucks, it prevents any interruption in your goal to achieve financial freedom.
6. Bring a travel rewards card
Depending on where you’re going and for how long, you might consider applying for a travel rewards card to bring with you.
Now, the credit card companies would have you believe that getting a new credit card is as simple and straightforward as ordering a burrito.
It’s not, and there are some hidden caveats/drawbacks for you to seriously consider before applying:
Credit card applications hurt your credit score. When you apply for a new credit card, the company will make a hard pull of your credit, causing an immediate drop of five to seven points.
Travel rewards cards typically require excellent credit. Because travel cards are “lifestyle cards” that encourage high spending, the card companies want to know that they can trust you to pay your bill when you’re back home. Therefore, they typically require a credit score of 750 or higher
The best travel cards charge an annual fee.The best travel cards almost always charge a $95 annual fee (or higher). Granted, they also tend to have generous signup bonuses ($500+) if you spend enough within your first three months.
The best time to get a travel rewards card is before you book your trip. That way, you can put your trip on your new card for extra cash back and to make progress on earning your signup bonus.
Aside from getting trip insurance, better cash back on travel expenses, and a signup bonus, the final perk to bring a travel rewards card is zero foreign transaction fees. Most non-travel cards will charge a 3% fee on every purchase you make overseas, making your cash back rewards null and void.
If you plan to go shopping abroad, a travel card (or at least one with no foreign transaction fees) is an excellent companion.
Read more: Best Travel Rewards Credit Cards
7. Turn on notifications for every single transaction
Circling back to my very first point, you definitely should still give your bank a travel notice so they don’t immediately freeze your account as soon as you try to make a purchase overseas.
That being said, I recommend you still set up alerts for every single transaction made on your card while you’re traveling.
What if you’re in Bolivia, but that charge at the hostel in La Paz wasn’t you? Now, the roles have reversed – your bank probably thinks it’s OK, but you obviously don’t.
That’s why it’s a good idea to have your bank ping a notification to your phone every time there’s a transaction on your account. Yes, you may get eleven pings a day, but I promise – it’s all worth it for that one ping that makes you go: hol’ up.
8. Prepare to use card lock
Let’s say you do get an alert for a fraudulent charge. Or maybe, you’ve simply lost your credit card and want to prevent any bad guys from using it.
What now? Do you call up Chase and cancel your card?
Hold the phone, because canceling a credit card could have seriously negative consequences on your personal finances. To start, every merchant you have on autopay will experience a missed payment, which could lead to a disruption in subscription services and even a dip in your credit score.
Plus, and I’m pulling from personal experience here, canceling a credit card abroad means that card is donezo. Six feet under. In most circumstances, your card issuer won’t be able to get you another physical card until you’re back home.
Besides, what if you find your card behind the hostel bar right after you cancel it?
That’s why card lock is such an essential feature for travelers. Card lock is a simple toggle in your banking app that lets you block any new transactions on your card. Pre-authorized transactions are allowed, but the bad guys won’t be able to charge anything new. They’ll probably assume you already canceled it and toss it in the trash.
Card lock is also a no-brainer if you’re searching for a lost card, or you do know where it is and just need a few hours to retrieve it.
9. Automate your bills
Speaking of pre-authorized transactions, another key step in ensuring a smooth trip (financially speaking) is to ensure that you won’t come home to any delinquent bills.
You’ll be glad you set up autopay for your rent, utilities, etc. if you haven’t already. It’s not just decidedly unfun to return from Bali to a pile of bills – it can also be expensive and hurt your credit score.
Some less patient merchants (notably utility providers) keep their fingers on the trigger, and as soon as you miss a payment they’ll ambush you with late fees and report your delinquent payment to the credit bureaus.
So, be sure that all of your bills, rent, etc. are set on autopay so you don’t get in trouble while you’re gone. And TBH, just keep everything on autopay so you don’t miss any payments in the future!
Read more:Automatic Payments Explained – Everything You Need To Know About AutoPay
10. Suspend your paid subscriptions
Conversely, if you’ll be gone for more than a month, you might even consider canceling some of your subscriptions until you’re back. This is a frugal life hack that I’ve used to save hundreds during my overseas adventures.
For example, you may want to consider canceling the following services (and more) if you won’t be using them while overseas:
Hulu.
Disney+.
Peloton.
HBO Max.
Spotify.
Netflix.
After all, these services let you reactivate on a whim, so you might as well suspend your subscription and save $20, $40, even $100 during each month you’re gone.
Not only is it effortless to re-subscribe – they’ll often give you promos for it (e.g. reactivate now to save 20% off your next three months).
Now, if it’s a subscription to a small business, like a local gym or a life coach, I’d encourage you to continue supporting them even while you’re overseas.
But Disney? They’ll be fine.
11. Remember to skip your meal deliveries
I’m giving this one its own header because it caused me a surprising amount of stress on my recent jaunt to the Bahamas.
While I was checking my email in Nassau, I got a notification that my Freshly box was out for delivery.
Oops.
Now, if it were just a regular package I could’ve rolled the dice and let it sit on my porch. If I were feeling paranoid, I probably could’ve gotten a pal to swing by within a few days and hide it.
But fresh meals? They had hours before they expired and I lost $100 worth of meal prep (and created tons of food waste).
For an undisclosed amount of bribery, I finally got my up-the-street neighbor to rescue my meals and keep them in her fridge for five days, but lesson learned – skip any fresh meal deliveries while you’re overseas.
12. Have a plan for your mail and packages
On a similar note, it pays (literally) to have your mail and packages taken care of while you’re gone.
If you go online, you can typically redirect UPS and FedEx packages for delivery to the nearest brick-and-mortar store for complimentary safe-keeping – even if the package is already in transit.
USPS offers a service called USPS Hold Mail® that, as the name subtly implies, will hold your mail at the nearest post office for up to 30 days. You can set it up online by creating a USPS account.
(Fun fact – you can also opt-out of junk mail for $2).
13. Freeze your credit report
This is a newer travel tip that some would consider extreme, while others consider it 100% necessary. I’ll let you be the judge.
Remember card lock, which prevents your credit card from being used? Well, there’s a more intense version of that where you can actually prevent your entire credit report from being used.
When you travel abroad and use your credit card in more places, the threat of identity theft naturally rises. Then, the usual first step in identity theft is that the bad guy will start applying for loans in your name.
At this stage, the lender sends a request to the credit bureaus to release your credit report, and when they see you have good credit, they give the bad guy whatever he wants.
But if you freeze your credit report, it stops the bad guy right in his tracks.
To freeze your credit report, you have to call up each of the three credit bureaus:
Equifax (1-800-349-9960).
TransUnion (1-888-909-8872).
Experian (1-888-397-3742).
They’ll ask you for a password to release it again – be sure to get it tattooed on your arm (or your friend’s arm) because you won’t want to lose it. Then, all you have to do is unfreeze it again when you apply for your next loan or line of credit.
14. Sublet your apartment
If your lease allows it, subletting your apartment while you’re gone could cover the cost of your trip!
When you sublet, you’re essentially letting a renter stay in your space while you’re gone. You’re effectively a landlord for a few weeks/months during your trip, and you’ll have to issue a lease of your own and collect rent.
You’ll likely want to collect a security deposit, too, to cover any potential theft or damages to your property.
Subletting makes the most sense if your renter is someone you trust – a friend, colleague, family member, etc. A total stranger might squat in your space, refuse to pay rent, and simply disappear before you return (with your stuff).
For that reason, subletting isn’t for everyone; but if you have a renter in mind and could get a lot for your space, it’s definitely worth investigating!
Read more: How to Sublet Your Apartment Safely
15. Make sure you don’t pay for data roaming
There’s a scene from An Idiot Abroad where Ricky Gervais knows Karl gets charged 70 pence every time he receives a text message in Egypt so he keeps texting him this:
Even if your data carrier says they include data roaming in your monthly bill, don’t believe them. T-Mobile claims they include unlimited data roaming and a “low rate ceiling” for global travelers, and yet felt justified charged a family $13,470.19 while they traveled – $1 per megabyte.
Here’s the crazy thing – the family’s phones were on airplane mode the entire time – but apparently, certain apps these days can shrug off airplane mode and vampire data regardless.
So, the key to avoiding roaming charges is to either:
Go into Airplane Mode Settings and ensure that Cellular Data is disabled.
Prepay for roaming data, if it’s essential.
Only then will you ensure that you never pay 70p for a text from Ricky Gervais again (actually, that might be worth it).
Read more: Should You Buy An International SIM Card For Your Next Trip?
16. Download a VPN
My final travel tip for safeguarding your finances is to download and start using a virtual private network, or VPN.
VPNs are essential travel tools because, among other things, they scramble your data while you browse the web. You’re going to be using a lot of public WiFi while you’re traveling, especially in airports, and that’s precisely when you’re the most vulnerable to having your data stolen (ID, bank passcodes, etc.)
Thankfully, even the cheapest VPN (~$3 a month) can protect you and ensure your sensitive financial data stays invisible.
Plus, VPNs can also help you circumvent national firewalls and download region-locked content. Want to download a movie only available on Netflix Canada? Want to visit Western social media while you’re in China? VPN.
Even if you’re unfamiliar with VPNs, they’re super easy to download and use – so be sure to pick one and tinker with it before you depart!
Summary
Money is a serious consideration for every big trip, but if you plan it well and implement a few key travel hacks, I guarantee you’ll have a less stressful (and more lucrative) adventure overseas.
Chances are life insurance can provide some kind of benefit to your life. At age 57 you most likely have different priorities than that of a person who is younger, but there is still a valid reason for having a quality insurance policy
When it comes to insurance, there are multiple factors that must be brought into consideration before deciding on a particular type of life insurance.
What Do you Need?
As a 57 year old you are hopefully either already retired or are close to retirement. Additionally, your family most likely isn’t as dependent on you as your children are (hopefully) out of the house. If you have fewer people, or nobody, dependent on your annual salary, you may think that you don’t need life insurance anymore, but this isn’t the only purpose for life insurance. Even if your kids have finally moved out of the basement, you still need protection for your family
Regardless, you probably still have liabilities and most likely still have the desire to provide for your family.
It provides the peace of mind that your family will be cared for in the event of some kind of misfortune.
What are the going rates of life insurance at age 57?
The rates that are quoted depend on a number of factors aside from your health. Most likely though if you are a non-smoker, you have a clean bill of health, you most likely will be eligible for a Preferred Plus rate.
Many life insurance providers will perform a medical exam as well as obtain a history of your medical records before offering final quote.
Sex
10 Year
20 Year
30 Year
Male
Protective – $46.26/month
SBLI – $80.91/month
Transamerica – $180.69/month
Female
Protective – $34.30/month
SBLI – $59.60/month
Transamerica – $126.88/month
At age 57 you hopefully have no medical ailments, but this most likely will not be the case forever. It is easy to fall in the mindset that you will always be healthy, but life happens, and it is not always in pleasant form.
Life insurance comes into play by offsetting these misfortunes and offering peace of mind.
What Type of Insurance Does a 57 Year Old Need?
When you’re over 50, your life insurance needs are very different. There are several kinds of plans still available to you, but not each of them is a good purchase.
In most cases, a term life insurance policy is going to be the best option, because they allow you to decide how much longer you’ll need coverage. There might be a time in the next 10 or 20 years where you no longer need life insurance, which is why term insurance is so handy.
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What is Term Life Insurance?
A cheap term life insurance policy is appealing for many ages, but particularly for someone at age 57. In addition to being affordable, it offers a large degree of protection against of number of different scenarios.
Unlike a traditional insurance agent, independent agents don’t just represent one single company, we represent dozens of the most highly rated insurance companies across the United States. Don’t waste time calling all of the companies yourself, we can bring all of the lowest quotes directly to you. Contact our agents or simply fill out the quote form with your information, and you can get the best rates from reputable companies.
Working with an independent agent isn’t the only way that you can get cheap term life insurance. There are several other things that you can do to keep some extra cash in your pocket.
The first is to improve your health and start using that dusty gym membership that you’ve had for years. Unless you choose a no medical exam policy, you’ll be required to complete a short health physical before you are accepted for coverage. The medical exam is going to impact how much you pay for coverage. Put simply, the better health you’re in, the less you pay for life insurance. If you want to save money, cut back on the junk food and start hitting the gym. Your doctor and bank account will both thank you.
Similarly, you’ll need to quit smoking or using chewing tobacco. Being listed as a smoker on your insurance application is going to cause your premiums to double automatically, regardless of how the rest of your health is. If you want to save as much money as possible on your coverage, you’ll need to kick the cigarettes. Smoking is one of the worst things that you can do for your insurance rates.
The last thing you should do is make sure that you’re getting the right amount of coverage. It’s a delicate balance trying to get the perfect amount of coverage, but if you purchase too much life insurance, you’ll be tossing away money. Sure, it’s better to have too much than too little, but it could also mean you’re spending way more on monthly premiums.
Bottom Line
If you are getting standard life insurance quotes over 50 then you will see some wide variance in the premium costs. The key is to work with an agent that knows the market and can shop for the best life insurance for your needs.
One of the worst things that you can do for your family is to not have life insurance. Your loved ones will be responsible for thousands and thousands of dollars of debt, and not have the money they need to pay those bills. It can make a difficult situation that much worse.
