It’s no secret that student loan debt in the U.S. is soaring. A quick internet search will return countless headlines noting the rising debt total—now over $1.7 trillion.
In search of a possible remedy, Public Service Loan Forgiveness (PSLF) was created in 2007 when Congress passed the College Cost Reduction and Access Act.
What Is Public Service Loan Forgiveness?
Public Service Loan Forgiveness was developed to encourage graduates with federal student loans to pursue relatively low-paying jobs in public service, like teachers, nurses, or public interest lawyers, by helping them with their student loan debt — which may be higher than what their salary could allow them to repay.
At its core, the idea seems relatively simple. After 10 years of qualifying student loan payments while working in a qualified public service job, the remaining balance on a borrower’s student loans would be forgiven by the government.
But when the first batch of students became eligible for PSLF in 2017, 10 years after the program’s inception, it became clear that the guidelines were a little murkier than originally thought.
Data showed that nearly 99% of applicants were denied loan forgiveness. According to the Department of Education, 70% of the approximately 29,000 applicants that have been processed were denied because they failed to meet program requirements.
So, if you plan to pursue PSLF, it could be worth taking a few minutes to double check the program requirements and make sure you meet them all.
PSLF: The Requirements
In order to be considered for loan forgiveness, there are a few program requirements to meet. You can see all the requirements on the Federal Student Aid website , but here’s our high-level look.
Firstly, the borrower has to work for a qualifying employer — like a government agency or certain types of nonprofits.
They’d also have to work full-time. If they happen to be working a few jobs that all qualify for the program, it’s possible to work a cumulative total of 30 hours a week to meet the full-time employment qualification.
PSLF requires applicants to have a Direct Loan or a Direct Consolidation Loan and the loan cannot be in default. Also, 120 qualifying payments would have to be made on an income-driven repayment plan or the 10-year Standard Repayment Plan.
What Is a Qualifying Payment for Public Service Loan Forgiveness?
While it may seem easy to make qualifying payments for loan forgiveness, the process can be confusing at times and requires attention to detail from the borrower pursuing loan forgiveness.
Part of making PSLF qualifying payments is working for an employer who qualifies for the program. To confirm whether an employer qualifies, borrowers need to fill out the employment certification form. As borrowers work toward loan forgiveness in the program, they should fill out the employment certification form every year and every time they switch jobs.
If you’re considering applying to the program, double check the type of loans you hold and make sure they qualify for the program. To check, you can log into the Federal Student Aid website. For example, federal loans such as Perkins Loans or Family Federal Education Loans (FFEL) don’t qualify for PSLF.
However, if they are consolidated into a Direct Consolidation Loan, they may. Note that when loans are consolidated, any payments made prior to consolidation will not count toward the total of the 120 qualified payments required by the PSLF program.
You’ll also likely want to take a look at the repayment plan. In order to make a qualifying payment, the loan should be enrolled in a qualifying repayment plan, typically one of the income-driven repayment plans.
While the standard 10-year repayment plan does qualify for PSLF, by the time 120 payments have been made, the loan should be repaid, so there likely won’t be a balance left to forgive.
Don’t qualify for PSLF? See if refinancing your student loans is right for you.
Once program requirements are being met, making qualifying payments requires continued diligence. Qualifying payments must have been made after October 2007, when the program started.
Payments should also be for the “full amount due as shown on your monthly bill” and should be made no later than 15 days after the payment due date. Many loan servicers offer the option to enroll in automatic payments, which could potentially make it easier to pay on-time every month.
Another thing to note is that payments only count toward PSLF if they are “required payments.” This means that any payments made while a borrower has in-school status, during the grace period, or during periods of nonpayment like deferment or forbearance, won’t count as a qualifying payment for the PSLF program.
However, payments that were paused due to COVID-19 will count as though you made those payments.
A borrower will only receive credit for one payment per month. Making payments larger than the monthly minimum or making multiple payments a month doesn’t translate into reaching PSLF faster.
If a borrower pursuing PSLF plans to make an overpayment, it can be worth contacting the loan servicer to confirm the additional payment isn’t being applied to future payments.
A payment will only qualify toward PSLF if there is a payment due, so if a borrower has paid ahead, they may be unable to make a qualifying payment for that month.
For those volunteering with AmeriCorps or the Peace Corps, there are separate rules that make it possible for volunteers to use their Segal Education Award or Peace Corps transition payment toward their student loans.
In certain situations, volunteers in these programs are able to make a lump-sum payment that could count for as many as 12 PSLF qualifying payments.
Student loan qualifying payments don’t need to be made consecutively. For instance, if you had made a series of payments while employed with a qualifying employer, but then switch jobs and no longer work with a qualifying employer, you won’t lose credit for the PSLF qualifying payments you’ve already made.
After making 120 qualifying payments, borrowers can apply for loan forgiveness by filling out an application manually or digitally. After years of hard work, they’ll (hopefully) be able to celebrate the sweet victory of achieving student loan forgiveness.
Buyer Beware: Looking Out for Scams
There are many boxes to check as you pursue loan forgiveness and it can be tricky to navigate the intricacies of the program. But, there is help out there.
The Department of Education offers an online help tool for borrowers pursuing PSLF. It can give borrowers an idea of where they stand and assist them through the process of pursuing PSLF.
An important note, there is no fee associated with filing paperwork for PSLF. If you’ve been contacted by a service that offers to provide assistance for a fee, they’re likely not affiliated with the Department of Education. In a worst case scenario, it could be one of the many scams that prey on confusion and have grown in number as student loan debt increases.
Recommended: 7 Tips to Avoid Student Loan Scams
What If You Don’t Qualify for PSLF?
If pursuing loan forgiveness through PSLF isn’t an option for you, you can explore some alternatives to manage your student loans. One option available is student loan refinancing, which could give borrowers the ability to lower their interest rate or shorten their repayment term. Terms will vary based on personal financial situations.
Refinancing federal loans would eliminate eligibility for programs like PSLF and income-driven repayment plans, so it won’t be right for everyone. To see what refinancing could do for your student loans, take a look at SoFi’s student loan refinancing calculator.
With SoFi, refinancing is fast, easy, and all online. We offer competitive fixed and variable rates.
SoFi Student Loan Refinance If you are a federal student loan borrower, you should consider all of your repayment opportunities including the opportunity to refinance your student loan debt at a lower APR or to extend your term to achieve a lower monthly payment. Please note that once you refinance federal student loans you will no longer be eligible for current or future flexible payment options available to federal loan borrowers, including but not limited to income-based repayment plans or extended repayment plans.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
External Websites: The information and analysis provided through hyperlinks to third-party websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are provided for informational purposes and should not be viewed as an endorsement.
Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.
Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.
It’s not likely you can travel with an expired passport, as a passport is generally required for international air travel. It also doubles as a valid form of ID for domestic U.S. travel.
If you realize your passport has expired and you have immediate travel plans, you’ll need to check the rules for the country you’re visiting and quickly submit an application for a new passport.
Learn why and when you need a passport to travel, how to renew your passport and what the rules are for traveling with an expired passport.
Why do you need a passport to travel?
A passport is a standardized form of government identification for those traveling internationally, though it can often be used for identification purposes domestically, too.
Passports ensure that travelers are who they say they are when entering or leaving a country or in other situations when identification is necessary. In most circumstances, everyone entering or leaving a country by land, sea or air needs to have their own passport, even if they’re a child, toddler or baby.
Generally, U.S. passports must be valid for six months beyond the traveler’s departure date to enter another country. However, some countries allow entry to travelers with only three months’ validity on their passport, and others have different regulations altogether. It’s important to verify the country’s rules where you’re planning to travel to ensure you can enter.
How do you renew a passport?
If your passport has expired and was issued more than 15 years ago, you must apply for a new one. Child passports for those under 16 expire after five years and cannot be renewed.
To renew your passport, follow these steps:
Complete a passport renewal application (Form DS-82).
Get passport photos taken.
Mail in your completed application and photos along with your current or expired passport and the required fees.
Currently, it takes up to 10 weeks to get a new passport or renew an existing one. However, there are ways to reduce the time it takes to get a new passport if you need it faster.
Expedited processing. By choosing expedited processing for an additional $60, your passport can be issued in three to five weeks.
Expedited delivery. Applicants can pay $19.53 for expedited delivery from the U.S. Postal Service. This upgrade delivers your new passport to you one to two days after it is mailed.
Urgent travel. This service is available by appointment at a passport agency and is for those with urgent travel plans within the next 14 days (or five days if you’ve already applied by mail). There is no fee for the appointment but spots are limited.
Emergency. In life-or-death situations that require travel within 72 hours, you may be able to obtain a passport the same day or the next day.
Passport expeditors or courier companies are another option to get your passport more quickly. These private, third-party companies are allowed to submit expedited passport applications on behalf of their customers. These agencies typically charge additional fees on top of the standard application and expedited service fees.
Can you fly with an expired passport?
Typically, travelers are required to have valid identification when flying. However, the rules can vary depending on whether you’re flying domestically or internationally.
Can you travel domestically with an expired passport?
A passport isn’t required for U.S. citizens traveling within the United States. If you’re flying within the U.S. and your passport has expired, it’s best to use another form of government identification. Forms of ID that are accepted by the Transportation Security Administration (TSA) and the airlines include state-issued driver’s licenses, state-issued ID cards and military ID.
If you’re traveling with an expired passport and don’t have one of the forms of ID listed above, you may still be able to fly if your passport hasn’t expired more than 12 months ago. However, you may be asked to show secondary forms of identification to prove your identity.
Can you fly with an expired passport to another country?
Traveling internationally requires a valid passport to depart the U.S. and/or return from a foreign country.
There are a few exceptions for passengers traveling within the Western Hemisphere. These include a NEXUS card when returning from Canada, a Merchant Mariner Document when traveling on official business or a Military Identification Card when traveling on official orders.
Traveling with expired passport rules during COVID
During the pandemic, the U.S. government issued a temporary order allowing those with an expired passport to fly home to the U.S. This rule granted travelers with passports expiring on or after Jan. 1, 2020, to return directly to the U.S. until June 30, 2022. This exception has since expired and is no longer valid.
What if your passport expired and you need to travel tomorrow?
If you’re traveling within three business days because of a life-or-death emergency of one of your immediate family members, you may be able to get a new passport the same day. Here’s how to get a passport quickly for next-day travel:
Get documentation of the emergency. This could be a death certificate, letter from a mortuary or a letter from a hospital explaining your family member’s condition. It must be translated by a professional if it’s not in English.
Obtain proof of your upcoming travel, such as an airline ticket or itinerary.
Complete a passport application and get passport photos taken.
Call the National Passport Information Center at (877) 487-2778 during business hours or (202) 647-4000 during non-business hours.
Explain your situation and why you need to travel right away.
If you qualify, the center will assist you in making an appointment at an eligible passport agency. Note that an appointment is not guaranteed.
Bring proof of the emergency and travel plans, your passport application and payment for all necessary fees to your appointment.
Flying with an expired passport recapped
Travelers must have a valid passport when traveling internationally. However, if your passport has expired, you have a few options to get a new passport faster than the standard seven to 10 weeks it currently takes. The fees and process required will depend on how quickly you need your new passport.
In life-or-death situations, you may be able to get a new passport the same day if your international travel is within three business days.
How to maximize your rewards
You want a travel credit card that prioritizes what’s important to you. Here are our picks for the best travel credit cards of 2023, including those best for:
Looking to know where to cash coins for free near you? Saving coins can be a great way to save money without even noticing it. However, when you end up with a jar full of loose change, finding an easy way to cash in your coins without paying a fee can feel like a challenge….
Looking to know where to cash coins for free near you?
Saving coins can be a great way to save money without even noticing it. However, when you end up with a jar full of loose change, finding an easy way to cash in your coins without paying a fee can feel like a challenge. Places that have free coin cashing services do exist, so you can enjoy the full value of the money that you have saved.
In this article, I will be talking about places where you can exchange your coins for free near you. We’ll also discuss the pros and cons of using Coinstar machines and tips on how to find coin exchanges in your area. Rolling coins might be an option for you too, and I will explain how to wrap coins as well.
Key Takeaways
Several places will cash coins without charging a fee.
Local banks and credit unions are a great choice for coin exchange.
Coinstar machines are a popular option but may come with a fee. They do have many no fee e-gift cards, though.
Rolling your coins and using free services from banks can save you money.
9 Places To Cash Coins For Free (Or Cheap!)
Finding the right place to exchange your coins can make a big difference. It’s not just about convenience, it’s about keeping more of your money too. Many people hoard coins without realizing the actual value. Dumping your coins into the first machine you see can cost you.
Did you know that some coin exchange machines charge up to 11.9% to convert your change into cash? If you have $100 in coins, that’s nearly $12 lost. It might not seem like much initially, but imagine losing $12 for every $100 in coins you have.
That’s why it’s important to choose the best place to convert your coins into cash. Below are the best places to cash coins for free near you.
1. Wells Fargo
Wells Fargo is a popular bank that allows you to cash your coins for free if you are a customer. You can visit your local branch and ask the teller for help with processing your coins to get cash in return.
2. Credit unions
Credit unions are similar to banks and also have coin exchange services for their members at no additional cost. There are some credit unions that don’t charge for nonmembers as well, so you may be able to call around and see if there is one near you that can exchange your coins for cash for you.
3. Bank of America
As one of the largest banks in the United States, Bank of America allows its customers to cash coins for free. They do require that your coins be rolled, so you will have to remember to do that first.
4. Chase
Chase is another popular banking institution where you can cash your coins without any extra fees. However, you need to be a Chase customer to access this service. Before you go, though, make sure to check Chase’s branch location to make sure that they accept coins as there are some locations that do not.
5. US Bank
If you have an account with U.S. Bank, you can cash your coins free of charge. Just bring your coins and account details to the branch, and their staff can help you. You don’t even need to roll your coins either.
6. QuikTrip
QuikTrip is a convenience store and gas station chain that often allows you to cash your coins for free. Depending on the location, QuikTrip may or may not charge service fees for coin exchanges. QuikTrip’s coin exchange program is a great option for those who need to cash coins quickly without the hassle of becoming a bank member.
They do this because there is a shortage of coins, and they are in need of coins. I do recommend rolling them ahead of time so that you are saving everyone time.
7. Target
Target stores with Coinstar machines allow you to cash your coins for a fee (generally 11.9% or more). Coinstar machines are convenient and can be found in many places.
8. Citi Bank
As a large financial institution, Citibank also permits its customers to cash coins for free. Visit your local branch with your account details and coins, and their staff will help you with converting your coins into cash.
9. Coinstar coin counting machines
I wanted Coinstar to have its own section in this article because it is so well-known as a coin counting machine. Whether you have just some loose change or if you have a busting piggy bank, Coinstar does make it easy.
Below, I will be diving further into Coinstar. And, yes, there is a way to use these coin counting machines near you for free.
What is Coinstar?
Coinstar is a service that has coin counting machines, commonly found in grocery stores, retailers, and more. These kiosks make it easy for you to convert loose change into cash, gift cards, or even donate to charity.
Charity options include the American Red Cross, Children’s Miracle Network Hospitals, Make-A-Wish, NAACP, The Humane Society of the United States, United Nations Children’s Fund (UNICEF), and more.
How to find Coinstar machines
To locate a Coinstar kiosk near you, simply use Google Maps or visit Coinstar’s website and access their Coinstar Kiosk Locator. I used their locator and I found 30 Coinstar machines within just around 30 minutes of me – so there are probably a few coin counting machines near you as well!
There are Coinstar coin sorter machines at Walmart, Safeway, CVS, Winn-Dixie, local credit unions, Target, and more.
Coinstar fees
While it’s convenient to use Coinstar to count and exchange your coins, it’s important to know of the fees associated with cashing in your change when using their machines. Coinstar charges an 11.9% coin processing fee when you convert your coins into cash.
How do I avoid Coinstar fees?
There is a way to cash in your coins at a Coinstar counting machine for free.
If you choose an e-gift card option instead of cash, coin counting is free at most locations in the United States. With a wide variety of eGift Card options from popular stores and restaurants, you can avoid the fees while still benefiting from your collected coins. Some of the places where you can get Coinstar gift cards include AMC Movie Theaters, Amazon, Apple, Cabela’s, Dominos, DoorDash, Lowe’s, Starbucks, Chili’s, Nike, GameStop, Applebee’s, Outback Steakhouse, and more.
How does Coinstar work?
Cashing in your coins is easy with Coinstar. You simply:
Find a Coinstar coin machine near you.
Put your coins into the machine.
Choose to get cash (which has around an 11.9% fee), receive a no-fee gift card, or give a charity donation.
Check the return tray for any coins that were rejected.
Receive your payment. If you chose cash, then you will receive a voucher that you will need to redeem, and you should redeem it on the same day. If you chose a gift card, you can use the unique code printed at the top of the voucher anytime to redeem your gift card.
How to roll coins
If you want to turn your coins into cash, then you may want to learn how to roll coins.
Rolling coins can be an easy way to organize and store your loose change, making it easier to cash them in for free at banks or credit unions. This can help you save on any fees that might be charged by coin counting machines.
First, gather all the coins you’d like to roll. Separate them by denomination (pennies, nickels, dimes, quarters) to make the process easier. Next, you’ll need coin rolls, which are paper or plastic tubes designed to hold a specific number of coins. You can often find these at your local bank or credit union, or buy coin wrappers online on Amazon. These rolls not only help you keep track of your savings but also make it easier for places to accept your coins.
Once you have your coin rolls, start filling them with the appropriate coins. Be sure to use the correct roll for each denomination, as follows:
Pennies: 50 per roll
Nickels: 40 per roll
Dimes: 50 per roll
Quarters: 40 per roll
After filling the rolls, fold or twist the open ends to secure the coins inside. It’s important to have the correct number of coins in each roll to have accurate counting when you take them to the bank.
Now that your coins are rolled, you can cash them in for free at various locations. Banks and credit unions are often the best places to exchange coins, especially if you’re an account holder. It’s always a good idea to call ahead and confirm that they accept rolled coins. Some institutions may have specific requirements for accepting rolled coins, such as labeling the rolls with your account number or providing a deposit slip.
In addition, some stores or gas stations might cash coins for free during a coin shortage, like QuikTrip. Be sure to keep an eye out for such opportunities in your area.
By taking the time to roll your coins, you’re not only organizing your spare change but also potentially improving your overall savings. Rolling coins is a simple process that can provide a great way to turn your loose coins into cash without any additional fees.
Frequently Asked Questions About Where To Cash Coins For Free
Below are answers to common questions about where to cash coins for free.
Where can I cash in coins for free?
You can cash in coins for free at several banks, credit unions, and some stores. Banks like Bank of America, Wells Fargo, and U.S. Bank are known to have this service. Additionally, some credit unions (like American Eagle Federal Credit Union and Westerra Credit Union) and QuikTrip stores also have free coin exchanges.
Where can I find a free coin counting machine?
Free coin counting machines can be found at certain banks and credit unions, as well as some stores like QuikTrip.
Do all banks cash coins for free?
Not all banks have free coin-cashing services, and this service depends on the bank and whether or not you hold an account with them. Some banks may charge noncustomers a fee for coin-cashing services while providing the same for their customers free of cost.
Which banks offer free coin exchange services?
Banks that have free coin exchange services include Bank of America, Wells Fargo, U.S. Bank, Citibank, Capital One, Chase, Citizens Bank, PNC Bank, TD Bank, and more. Credit unions can also be a great option for exchanging coins without a fee.
Are coin sorting and counting machines accurate?
Yes, most coin sorting and counting machines are accurate. However, like all machines, there may be a margin of error, and the accuracy can also largely depend on the specific machine and its maintenance.
Are there any alternatives to Coinstar for cashing in coins?
Yes, there are alternatives to Coinstar for cashing in coins. Going to a bank, credit union, or QuikTrip store can be a better option, as many have free coin counting machines and exchanges, but you should always call ahead to make sure they will change your coins into cash.
How much does Coinstar take out of $100?
Coinstar charges a fee of around 11.9% for cashing in your coins. So, if you cash in $100 worth of coins, Coinstar would take about $11.90, leaving you with $88.10 in cash.
Does Walmart have free coin exchange services?
Walmart doesn’t have free coin exchange services themselves, but some locations have Coinstar coin counter machines. Keep in mind that Coinstar charges a fee, but you can avoid this by choosing a gift card option instead.
Are there any free coin deposit options at Bank of America?
Bank of America has free coin deposit options for its customers. However, you should call your local branch beforehand to make sure they have a coin counting machine available, as not all locations may provide this service.
How To Find Free Coin Counting Machines Near You – Summary
I hope you enjoyed this article on how to find the best places to cash coins for free.
Finding free coin counting machines near you can help you turn your loose change into cash or even gift cards without any additional fees. The best places to turn your coins into cash include:
Local banks and credit unions – Many banks and credit unions have free coin counting services for their customers.
QuikTrip gas stations – QuikTrip has gas stations across 11 states, with 800 locations in total. Some of these locations have free coin counting and exchange services to make up for the coin shortage. You can check the availability of coin counting machines at your local QuikTrip by giving a location a call.
Retailers with coin counting machines – Some stores have coin counting machines that can be used for free or for a very low fee.
As you look for free coin counting machines near you, remember to give them a call first. The fees or services will vary so you will want to check with them directly first.
When was the last time you turned your coins into cash?
You’ve probably used Venmo a lot this past year, but is Venmo safe? And if so, what are the advantages of Venmo over other online payment providers? Read answers to these questions and more in our helpful guide below.
In This Piece
What Is Venmo?
Venmo is a type of peer-to-peer—or person-to-person—payment app. Its parent company is money-moving giant PayPal, which had over 377 million registered users in the last quarter of 2020. Think of Venmo like “PayPal lite”—you can receive cash and send money to people, but you can’t send invoices or do anything complex.
PayPal launched Venmo for one reason—to compete in the P2P payment marketplace. Not everyone needs PayPal’s full suite of services, but they appreciate a convenient way to split the bill. You can pay for part of a dinner or your share of the shopping with Venmo, and some online retailers also accept Venmo as a form of payment.
Venmo began offering a cash back rewards debit card—the Venmo Debit Card—in 2018. In late 2020, it launched the Venmo Credit Card. Like the Venmo Debit Card, the Venmo Credit card offers cash back—up to 3% on your “top spend” category.
How Does Venmo Work?
Venmo works a little like PayPal. To use the services you simply:
I just watched a documentary on the dark web, and I will never feel safe using my credit card again!
Luckily I don’t have to worry about that. I have ExtraCredit, so I get $1,000,000 ID protection and dark web scans.
I need that peace of mind in my life. What else do you get with ExtraCredit?
It’s basically everything my credit needs. I get 28 FICO® scores, rent and utility reporting, cash rewards and even a discount to one of the leaders in credit repair.
It’s settled; I’m getting ExtraCredit tonight. Totally unrelated, but any suggestions for my new fear of sharks? I watched that documentary too.
…we live in Oklahoma.
Download and install the app on your phone
Link the app to your bank account, debit card, or credit card
Begin sending payments to friends, family members, and select online retailers
Venmo has an initial $299.99 weekly sending and receiving limit. To lift that limit, you need to provide identification documents. Once your ID is confirmed, you’ll have a $4,999.99 weekly limit.
If you want a Venmo Debit Card, you’ll need to apply online. To get a Venmo Credit Card, you need to be over 18 and a U.S. resident—and you also need to have had your Venmo account for at least 30 days.
Is Venmo Safe? What Are the Risks of Using Venmo?
Venmo is generally very safe—the company uses bank-level encryption to keep your data safe. You can add a PIN number and enable multi-factor authentication (MFA) to make your account even more secure. A strong password combined with a PIN and MFA greatly reduces the chance of hacking.
Venmo’s default profile and payment settings are public. Thankfully, you can change your privacy settings to keep your payment settings under wraps. Venmo’s three privacy levels are:
Anyone can find you and see your transactions.
Only you and the person you send payment to will see a transaction.
Friends only. Your Venmo friends can see you and can also see your transactions.
You can set your privacy settings to default to any of these three levels, or you can set levels on a transaction-by-transaction basis. You can also hide your past transactions.
Is Venmo Free?
Depending on how you use Venmo, it can be 100% free. Believe it or not, if you’re strictly using Venmo to transfer payments from one party to another and you’re not using a credit card, you may be able to use it for free.
However, there are some instances where Venmo does charge a fee. For example, if you’re using Venmo as part of your business, you’ll likely need to pay merchant fees. Here’s a look at the various fees Venmo charges account holders.
Instant Transfer Fees
You can transfer money from your Venmo account to your bank account at any time. This process can take 1-2 days to complete. If you need the money faster, you can opt for the instant transfer option, but it will cost you. Venmo charges an instant transfer fee of 1.75%, with a minimum fee of $0.25 and a maximum fee of $25.
Processing Fees
If you choose to make a Venmo payment using your bank account or debit card, you’ll incur no additional fee. If, on the other hand, you use a credit card to make this payment, you must pay processing fees. Venmo’s processing fees are 3%.
Check Deposit Fees
Venmo allows account holders to deposit checks directly into their Venmo account. However, it charges a fee for this service. The check deposit fee is 1% or a $5 minimum when depositing government-issued or payroll checks and 5% or a $5 minimum when depositing all other checks.
Merchant Fees
If you’re using Venmo to accept payments for a business you operate, you must pay merchant fees. Venmo charges business owners a 1.9% merchant fee plus an additional $0.10 per transaction.
What Is Venmo Debit Card and How Does It Work?
If you use your Venmo account quite often or have your payroll or government check deposited into your Venmo account, you might want to consider applying for a debit card with Venmo. This card is similar to any other debit card from a financial institution. It lets you spend the money in your Venmo account anywhere that accepts debit cards.
You can track your deposits and payments directly on the Venmo app, and you can also check the balance in your account. Since this is a debit card, it doesn’t have the same strict credit requirements you might run into when attempting to obtain a credit card. Obtaining this type of debit card can avoid the need to transfer funds from your Venmo account to your bank account.
There can be some fees associated with having a Venmo debit card. For instance, you incur a $2.50 fee when you withdraw funds from your Venmo account via an out-of-network ATM. There’s no fee for using an in-network MoneyPass ATM. A $3 fee applies for an over-the-counter cash withdrawal at a bank. Additionally, you can only withdraw up to $400 per day from your Venmo account.
Venmo and Taxes
If you’re only using Venmo to transfer funds to friends and family members, taxes won’t be an issue. If, on the other hand, you’re using Venmo to collect payments for your business, you may be responsible for paying taxes. If you earn over a certain amount during the year, you need to include any Venmo payments you received for your business on your taxes. Before starting any business, it’s important to understand what your tax responsibilities are.
Venmo Scams to Watch Out for
If you’re wondering “Is Venmo safe to use?” the answer is yes, it’s relatively safe to use. Venmo uses encryption security to protect your personal information from hackers. Its robust security features are in place to keep your money safe.
Even these robust security features can’t stop all scammers. But there are steps you can take to avoid this type of bank account fraud. It’s important to recognize these scams before scammers take advantage of you. Below is a look at the most common Venmo scams.
Fake Products for Sale
One of the most common Venmo scams involves online sales. The scammer pretends to be selling something online. However, once you make a payment, you never receive the product.
Once a Venmo payment is processed, you can’t reverse it and there’s no way to get your money back. This is why it’s so important to only submit payments to people and businesses you know and trust.
Pretending to Be from Venmo
Another common scam involves scammers pretending to be Venmo. If you receive an email or text message claiming to be from Venmo, don’t automatically assume it is. Some scammers send these messages to try to steal your personal information, such as your account number and password. Once they have this information, they can hack into your account and make payments without your permission.
Using Your Phone
There have been reports of strangers asking a person to borrow their phone. Instead, they actually open the Venmo account on your phone to send money to an account associated with them. Unfortunately, trying to do a good deed by letting someone borrow your phone could cost you hundreds or thousands of dollars.
Why Does Venmo Require Identify Verification?
If you open an account with Venmo, you’ll have to prove your identity. This isn’t just a Venmo requirement. According to the Consumer Identification Program under the U.S. Patriot Act, all financial institutions must verify the identities of all their customers.
This program helps prevent terrorists from sending and receiving money and helps to stop money laundering. It can also help reduce the risk of fraud on Venmo. However, even identity verification can’t prevent all forms of fraud. It’s important to always remain vigilant and report any suspicious activity to Venmo.
Staying Safe with Venmo
There are several things you can do to protect yourself when using Venmo.
Monitoring Your Account
Be sure to periodically check your Venmo account for unauthorized transactions. If you notice any, report it to Venmo immediately.
Set Up Venmo Notifications
Receiving notifications as soon as there’s suspicious activity on your Venmo account may help prevent a scammer from accessing your account. Always be sure to have your notifications on for Venmo.
Secure Your Account
There are multiple ways to secure your Venmo account if you lose your phone or allow someone to use it. First, turn on the PIN feature. This step requires you to enter a specific PIN number before you can even open your Venmo account. You should also set up the two-function authentication feature to make it even more difficult for someone to hack into your account.
Choose Private Setting
You may not realize it, but Venmo automatically makes all accounts public. While other users can’t see the specific details of your account, they can see how often you use Venmo. To keep your account safe, it’s recommended to switch your account to private so only your friends and family members can see your information.
Don’t Keep a High Balance
It’s recommended to avoid keeping a high balance in your Venmo account. This way, if your account is hacked, you’re not at risk of losing too much money. Instead, take steps to transfer your Venmo balance to your bank account as soon as possible.
Don’t Share Phone
Even if you’re using the passcode and two-factor authentication features, it’s recommended not to let a stranger use your phone. Only those you know and trust should have access to your phone.
Only Enter Venmo Through the App or Website
Don’t activate your Venmo account through a link you receive in an email or text message. This could be a phishing email designed to steal your Venmo account information, such as your account number and password. Instead, only access your Venmo account through the Venmo app or website.
Venmo Alternatives
Venmo isn’t alone in the payment marketplace. Like most other payment options, it has a long list of rivals. Let’s line up three formidable adversaries for comparison.
Tip: PayPal is another popular payment app. Check out our safety review for more information.
App Name
Venmo
Zelle
Cash App
Parent company
PayPal
Early Warning Services
Square
Need a bank account?
No
Yes—but you can still use and download the app if your bank doesn’t offer Zelle
No
Who can you pay?
Friends, family members and other people you trust
Friends, family members and other people you trust
Anyone, including contractors, utility companies and charities
Debit card available?
Yes
No
Yes
Can you hold a balance?
Yes
No—but Zelle is connected to your bank account by default
Yes
How much does it cost?
Free if you use a bank account, a debit card or your Venmo balance. If you use a credit card, Venmo charges a 3% fee. Instant outgoing bank transfers cost 1%, while standard bank transfers are free.
No fees to send or receive money. Your connected bank may charge fees, however.
Free if you use a bank account, a debit card or your Cash App balance. If you use a credit card, Cash App charges a 3% fee. Instant outgoing bank transfers cost 1.5%, while standard bank transfers are free.
Any limits?
You’ll have a $299.99 weekly peer-to-peer limit immediately after signup. If you confirm your identity, your weekly limit will go up to $4,999.99.
Limits depend on the financial institution. If your bank doesn’t offer Zelle, your weekly transaction limit will be $500.
You can send or receive up to $1,000 during a period of 30 days.
Venmo Versus Credit Cards
What if you don’t want to pay via an app, and you don’t like carrying cash around either? In that case, your best bet might be a credit card. You’ll need to ask your waiter or your cashier to split the bill, but most merchants are happy to oblige.
Look for credit cards with the following perks:
A low APR. Choose a low-interest credit card to save money on interest payments.
Cash back rewards. Why go for a standard credit card when you can get a little money back each time you shop?
Balance transfer offers. Transferring your balance from another credit card? In that case, look for a 0% balance transfer offer.
Credit builder cards. If you don’t qualify for an unsecured credit card, go for a secured card or a credit builder card to boost your credit score.
So is Venmo Safe?
Let’s recap. Venmo is a P2P payment app, and its parent company is PayPal. You can send money to friends, family members and other trusted individuals via Venmo. Some online stores accept the payment method, too. Venmo offers a debit card and—if you qualify—a credit card. You can fund your account with your bank account, a credit card or a debit card.
If you prefer not to pay by app and you don’t feel safe carrying cash, you might want to go with a credit card. Looking for the right credit card for you? Check out ExtraCredit® today. You’ll see select personalized credit offers when you visit your Reward It portal.
Moving into a new place is always an exciting time. You have everything figured out — you’ve found the right apartment, you know exactly how you’ll decorate it and you’ve planned out a budget. But have you thought about the apartment application fee? Do you know what the application fee is?
These are all things you should know about before moving into a new apartment. In this article, we’ll go into what the application fees are, what they cover and why or if they’re required.
What is an apartment application fee?
Almost every apartment complex or landlord requires some form of application fees when you move in. When deciding to rent out an apartment, a landlord wants to make sure they have an ideal candidate for renting, therefore, they use application fees to do just this.
Application fees cover the costs of running a background check, credit check and processing the rental application itself. By running credit and background checks through screening companies, they are able to ensure that you are able to pay your rent on time and make sure that they keep the apartment safe from crime.
In some scenarios, the fees cover when the landlord takes the apartment off the market to secure it for you. While it is rare, sometimes there will be a no application fee apartment and the landlord will simply ask you these questions and not make you pay a fee.
How much are apartment application fees?
Fees vary greatly from state to state. Generally speaking, they are usually affordable and cost anywhere between $20 and $50. That being said, there are some that can cost upwards of $100. One of the things you should watch out for is getting scammed when landlords charge high prices on application fees.
In some cases, there are landlords that try to take advantage of new tenants and will charge outrageous application fees. If this is the case, it’s probably best to walk away. In some states, there are laws that cap the amount a landlord can charge for application fees. It’s important for you to look into this and know what you can and cannot be charged.
Is an apartment application fee different from a security deposit?
Security deposits and application fees are two different fees you’ll pay when moving into a new place. As mentioned, the application fees cover the costs of credit and background checks, as well as other paperwork. The security deposit, however, is a sum of money — typically around the price of the first month’s rent — you give to your landlord when you first move in and they’ll hold onto it until you move out.
Typically, the security deposit covers damage to the apartment that is beyond usual wear and tear, such as ruining a wall or having to replace the carpet. Your landlord will deduct these costs from your security deposit when moving out. If the damage is too bad, they might keep the entire deposit to fix the apartment for the next tenant.
Are apartment application fees refundable?
There are some cases in which you’ll be refunded the application fee, but it’s very situational. For instance, if the landlord decided to rent the apartment to another tenant before they processed your application. Sometimes the landlord will refund you if they did all the checks but decided to go another way. However, it’s important to note that this is a rare occurrence.
If the landlord approves and you decide to rent the apartment, most of the time the application fee will go toward your security deposit. Application fees are also a one-time fee, so you won’t get charged this amount monthly.
How to find rental application fee-free apartments
Finding no application fee apartments is difficult. Because of the Fair Housing Act, many landlords are wary of not doing an application fee or waving it for certain people but not others.
Depending on where you are and what type of apartment you are looking for will also vary finding no application fee apartments. In some cases, people renting their apartments themselves or subletting won’t charge an application fee. That is one of your best chances of finding a place with no fee, or you could try and discuss fees with your landlord.
Apartment application fees are part of the process
Renting an apartment is exciting and the start of a new journey and you don’t want it ruined by not knowing about certain fees. Before deciding on a place make sure to sit down and figure out a budget that includes all apartment fees. This way when you go to rent you know exactly what you’re in for. Also, check in your state to see if there is an apartment application fee cap so that you don’t get overcharged.
Knowing all this information will save you time and make the moving process much more fun. Start your renting journey today, here!
Wesley is a Charlotte-based writer with a degree in Mass Communication from the University of South Carolina. Her background includes 6 years in non-profit communication and 4 years in editorial writing. She’s passionate about traveling, volunteering, cooking and drinking her morning iced coffee. When she’s not writing, you can find her relaxing with family or exploring Charlotte with her friends.
Chase is offering 65,000 Hyatt points after $5,000 in spend within the first three months when you open a new World of Hyatt Business card and an additional 15,000 bonus points after you spend $12,000 within the first 6 months
Card Details
$199 annual fee (fee is NOT waived the first year)
Card earns at the following rates:
Earn 4x points per dollar at Hyatt properties
Earn 2x points per dollar on your top three categories, from a selection of the following eight categories (they call this “Adaptive accelerator”):
Dining
Shipping
Airline tickets when purchased directly with the airline
Local transit & commuting
Social media & search engine Advertising
Car rental agencies
Gas stations
Internet, cable & phone services
Earn 2 points per dollar on fitness club and gym memberships
Earn 1 point per dollar on all other spend
Spend $50,000 or more on the card in a calendar year and receive 10% of redeemed points back as Bonus Points for the remainder of the calendar year (maximum of 20,000 Bonus Points per calendar year)
Earn $100 in Hyatt credit each anniversary year: Spend $50 or more at any Hyatt property and earn $50 in statement credits up to two times each anniversary year
Automatic Discoverist status in World of Hyatt (typically requires 10 Tier-Qualifying Nights or 25,000 Base Points)
Gift up to 5 Discoverist statuses to their company employees (they do not have to be cardholders)
5 Tier-qualifying night credits with each $10,000 in spend on the card in a calendar year
With World of Hyatt’s 2021 reduced elite status criteria, World of Hyatt Business Credit cardmembers can earn top tier Globalist status with $60,000 in spend on the card now through Dec. 31, 2021.
Access to Hyatt Leverage, Hyatt’s global business travel program that offers special rates to qualifying small and mid-sized enterprises at participating Hyatt hotels worldwide
No foreign transaction fees
No fee for employee business cards
Primary rental car collision damage waiver
Our Verdict
This is the same bonus that the card launched with and an all time high (actually not as good as that only required $5,000 total spend). Hopefully it becomes available as a referral bonus as well. Could definitely be worth it for some people, especially as Chase business cards don’t count towards your 5/24 status (you still need to be under 5/24 to get approved though). We will add this to our list of the best credit card bonuses.
Robo-advisors have barely been around for 10 years, but in the past couple of years several have been steadily expanding their investment menus, and even offering valuable add-on services. One of the leaders in this regard is Wealthfront. The robo-advisor has been growing its investment capability in every direction but is now even offering financial planning. The platform now bills itself as offering High-Interest Cash, Financial Planning & Robo-Investing for Millennials. If you’re looking for more than just investing, Wealthfront has it. And as has become their trademark, it’s all available at a low cost.
What is Wealthfront?
Based in Palo Alto, California, and founded in 2011, Wealthfront has about $25 billion in assets under management. It’s the second-largest independent robo-advisor, after Betterment. And while dozens of robo-advisors have arrived in recent years, Wealthfront stands out as one of the very best. There isn’t any one thing Wealthfront does especially well, but many. And they’re adding to their menu of services all the time.
Their primary business of course is automated online investing. You can open an account with as little as $500, and the platform will design a portfolio for you, then manage it continuously. Your money will be invested in a globally diversified portfolio of ETFs–just like most other robo-advisors. But Wealthfront takes it a step further, and also adds real estate and natural resources.
Like other robo-advisors, Wealthfront uses Modern Portfolio Theory (MPT) in the creation of portfolios. They first determine your investment goals, time horizon, and risk tolerance, then build a portfolio designed to work within those parameters. MPT emphasizes proper asset allocation to both maximize returns, and minimize losses.
But in a major departure from other robo-advisors, Wealthfront now offers the ability to customize your portfolio and get access to a variety of investment methodologies and portfolios, including Smart Beta, Risk Parity and Stock-Level Tax-Loss Harvesting. And more recently, they’ve also stepped into the financial planning arena. They now offer several financial planning packages, customized to very specific needs, including retirement planning and college planning.
If you haven’t checked out Wealthfront in the past year or so, you definitely need to give it a second look. This is a robo-advisor platform where things are happening–fast!
How Wealthfront Works
When you sign up with Wealthfront, they first have you complete a questionnaire. Your answers will determine your investment goals, time horizon, and risk tolerance. A portfolio invested in multiple asset classes will be constructed, with an exchange-traded fund (ETF) representing each.
The advantage of ETFs is that they are low-cost, and enable the platform to expose your portfolio to literally hundreds of different companies in each asset class. With your portfolio invested in multiple asset classes, it will literally contain the stocks and bonds of thousands of companies and institutions, both here in the U.S. and abroad.
Wealthfront offers tax-loss harvesting on all portfolio levels. But they’ve also added portfolio options for larger investors, that include stocks as well as ETFs. The inclusion of stocks gives Wealthfront the ability to be more precise and aggressive with tax-loss harvesting.
Each portfolio also comes with periodic rebalancing, to maintain target asset allocations, as well as automatic dividend reinvestment. As is typical with robo-advisors, all you need to do is fund your account–Wealthfront handles 100% of the investment management for you.
More recently, Wealthfront has also added external account support. The platform can now incorporate investment accounts that are not directly managed by the robo-advisor. This will provide a high-altitude view of your entire financial situation, helping you explore what’s possible and providing guidance to optimize your finances.
And much like many large investment brokers, Wealthfront now offers a portfolio line of credit. It’s available only to investors with $25,000 or more in a taxable account, but if you qualify you can borrow money against your investment account and set your own repayment terms in the process
Wealthfront Features and Benefits
Minimum initial investment: $500
Account types offered: Individual and joint taxable accounts; traditional, Roth, rollover and SEP IRAs; trusts and 529 college accounts
Account access: Available in web and mobile apps. Compatible with Android devices (5.0 and up), and available for download at Google Play. Also compatible with iOS (11.0 and later) devices at The App Store. Compatible with iPhone, iPad and iPod touch devices.
Account custodian: Account funds are held in a brokerage account in your name through Wealthfront Brokerage Corporation, which has partnered with RBC Correspondent Services for clearing functions, such as trade settlement. IRA accounts are held with Forge Trust.
Customer service: Available by phone and email, Monday through Friday, from 7:00 AM to 5:00 PM, Pacific time.
Wealthfront security: Your funds invested with Wealthfront are covered by SIPC, which insures your account against broker failure for up to $500,000 in cash and securities, including up to $250,000 in cash.
Wealthfront uses third-party providers to maintain secure, read-only links to your account. The providers specialize in tracking financial data, as well as employ robust, bank-grade security, and in general, they follow data protection best practices. In addition, Wealthfront does not store your account password.
Wealthfront Investment Methodology
For regular investment accounts, Wealthfront constructs portfolios from a combination of 10 different specific asset classes. This includes four stock funds, four bond funds, a real estate fund, and a natural resources fund.
Each portfolio will contain various allocations of each asset class, based on your investor profile as determined by your answers to the questionnaire. The one exception is municipal bonds. That allocation will appear only in taxable accounts. IRAs don’t include them since the accounts are already tax-sheltered.
Notice in the table below that most asset classes have two ETFs listed. This is part of Wealthfront’s tax-loss harvesting strategy. In each case, the two ETFs are very similar. To facilitate tax-loss harvesting, one fund position will be sold, then the second will be purchased at least 30 days later, to restore the asset class. (We’ll cover tax-loss harvesting in a bit more detail a little further down.)
The ETFs used for each asset class are as follows, as of December 29, 2018:
Specific Asset ClassGeneral Asset ClassPrimary ETFSecondary ETF
US Stocks
Stocks
Vanguard CRSP US Total Market Index (VTI)
Schwab DJ Broad US Market (SCHB)
Foreign Stocks
Stocks
Vanguard FTSE Developed All Cap ex-US Index (VEA)
Schwab FTSE Dev ex-US (SCHF)
Emerging Markets
Stocks
Vanguard FTSE Emerging Markets All Cap China A Inclusion Index (VWO)
iShares MSCI EM (IEMG)
Real Estate
Real Estate
Vanguard MSCI US REIT (VNQ)
Schwab DJ REIT (SCHH)
Natural Resources
Natural Resources
State Street S&P Energy Select Sector Index (XLE)
Vanguard MSCI Energy (VDE)
US Government Bonds
Bonds
Vanguard Barclays Aggregate Bonds (BND)
Vanguard Barclays 5-10 Gov/Credit (BIV)
TIPS
Bonds
Schwab Barclays Capital US TIPS (SCHP)
Vanguard Barclays Capital US TIPS 0-5 Years (VTIP)
Municipal Bonds (taxable accounts only)
Bonds
Vanguard S&P National Municipal (VTEB)
State Street Barclays Capital Municipal (TFI)
Dividend Stocks
Bonds
Vanguard Dividend Achievers Select (VIG)
Schwab Dow Jones US Dividend 100 (SCHD)
Wealthfront’s historical returns are as follows (through 1/31/2019). But keep in mind these numbers are general. Since the portfolios designed for each investor are unique, your returns will vary.
Specialized Wealthfront Portfolios
As mentioned in the introduction, Wealthfront has rolled out several different investment options, in addition to its regular robo-advisor portfolios. Each represents a specific, and generally more specialized investment strategy, and is typically available to those with larger investment accounts.
Smart Beta: You’ll need at least $500,000 to be eligible for this portfolio. Smart beta departs from traditional index-based investing, which relies on market capitalization. For example, since Apple is one of the most highly capitalized S&P 500 stocks, it has a disproportionate weight in strict S&P 500 index funds. In a smart beta portfolio, the position in Apple will be reduced based on other factors.
In general, under smart beta, the weighing of stocks in the fund uses a variety of factors that are less dependent on market capitalization. There’s some evidence this investment methodology produces higher returns. This portfolio is available at no additional fee.
Wealthfront Risk Parity Fund: This is actually a mutual fund–the first offered by Wealthfront. It involves the use of leverage with some positions within the portfolio. It attempts to achieve higher long-term returns by equalizing the risk contributions of each asset class. It’s based on the Bridgewater Hedge Fund, and requires a minimum of $100,000, with an additional annual fee of 0.25% (0.50% total). This is the only Wealthfront portfolio that charges a fee over and above the regular advisory fee.
Socially responsible investing (SRI): Wealthfront just recently began to offer a specific SRI portfolio option. Once you sign up, you’ll be able to customize your portfolio and add socially responsible ETFs.
Sector-specific ETFs: If you want to invest in a particular portion of the market, such as technology or healthcare, Wealthfront gives you the option to build a portfolio that focuses on certain industries to portions of the stock market.
Customized Wealthfront Portfolios:
Wealthfront also lets investors build their own portfolios, which is somewhat uncommon among robo-advisors.
Most robo-advisors will build your portfolio automatically based on your risk tolerance and goals. If you like that service, Wealthfront can do it. However, more hands-on investors are free to make tweaks to the automatically designed portfolio by adding or removing ETFs.
You can also build a portfolio entirely from scratch if you’d rather. You can choose which ETFs to invest in and how much you want to invest in them. You can then let Wealthfront handle things like rebalancing and tax-loss harvesting while maintaining the portfolio you desire.
Wealthfront Tax-loss Harvesting
If there’s one investment category where Wealthfront stands above other robo-advisors, it’s tax-loss harvesting. Not only do they offer it on all regular taxable accounts (but not IRAs, since they’re already tax-sheltered), but they also offer specialized portfolios that take it to an even higher degree.
Wealthfront starts with a tax location strategy. That involves holding interest and dividend-earning asset classes in IRA accounts, where the predictable returns will be sheltered from income tax. Capital appreciation assets, like stocks, are held in taxable accounts, where they can get the benefit of lower long-term capital gains tax rates.
But for larger portfolios, Wealthfront offers Stock-level Tax-Loss Harvesting. Three specialized portfolios are available, using a mix of both ETFs and individual stocks. The purpose of the stocks is to provide more specific tax-loss harvesting opportunities. For example, it may be more advantageous to sell a handful of stocks to generate tax losses, than to close out an entire ETF.
Given that Wealthfront puts such heavy emphasis on tax-loss harvesting, it’s not surprising they’ve published one of the most respected white papers on the subject on the internet. If you want to know more about this topic, it’s well worth a read. The paper concludes that tax-loss harvesting can significantly increase the return on investment of a typical portfolio.
US Direct Indexing
US Direct Indexing is an enhanced level of tax-loss harvesting that Wealthfront offers to people with account balances exceeding $100,000.
Instead of building a portfolio of ETFs, Wealthfront will use your money to directly purchase shares in 100, 500, or 1,000 US companies. By buying shares in so many companies, Wealthfront can emulate an index fund in your portfolio while owning individual shares in the businesses.
Owning individual shares in hundreds of companies makes tax-loss harvesting easier as it lets Wealthfront’s algorithm trade based on movements in individual stocks rather than in funds. This can increase the number of tax losses that Wealthfront harvests each year, reducing your income tax bill.
Other Wealthfront Features
Wealthfront Cash Account
Wealthfront offers acash account where you can safely and securely store your money for anything–emergencies, a down payment for a home, or to later invest. By working with what they call Program Banks, Wealthfront has quadrupled the normal FDIC insurance on this account, so you’re protected for up to $5 million.
There’s also no market risk since it’s not an investment account and the money isn’t being invested anywhere. You can make as many transfers in and out of the account as you’d like, and it only takes $1 to start.
So what’s the catch?
There really isn’t one. Wealthfront will skim a little off the top to make some money before giving you an industry-leading 4.30% APY, but other than that, you’re just giving them more financial data. Since we’re doing this all the time with technology anyway, it shouldn’t make that big of a difference.
I see no downside, especially if you’re already a client of Wealthfront.
They’re really making a play to be your all-in-one financial services provider, too.
A new feature, just launched, is the ability to use your cash account as a checking account. This includes the ability to access your paycheck up to two days early when you set up a direct deposit. Additionally, you can invest in the market within minutes using your Wealthfront Cash account. Put the two together and you give yourself the ability to invest more than 100 days more in the market. The account also allows you to auto-pay bills and use apps like Venmo and PayPal to send money to friends or family. Account-holders also get a debit card to make purchases and get cash from ATMs. And you can use the account to organize your cash into savings buckets – like an emergency fund, down payment on a house, or other large purchase – and use Wealthfront’s Self-Driving Money offering to automate your savings into those buckets.
If you have cash that’s getting rusty in a traditional bank account and you want to earn more, the Wealthfront Cash Accountis a great place to keep it.
Read more about the cash account in our Wealthfront Cash Account full review.
Wealthfront Portfolio Line of Credit
This feature is available if you have at least $25,000 in your Wealthfront account. It allows you to borrow up to 30% of your account value, and currently charges interest rates between 3.15% and 4.40% APR depending on account size. You can make repayments on your own timetable, since you’re essentially borrowing from yourself. And since the credit line is secured by your account, you don’t need to credit qualify to access it.
Wealthfront Free Financial Planning
This is Wealthfront’s entry into financial planning. But like everything else with Wealthfront, this is an automated service. There are no in-person meetings or phone calls with a certified financial planner. Instead, technology is used to help you explore your financial goals, and to provide guidance to help you reach them. And since the service is technology-based, there is no fee for using it.
The service can be used to help you plan for homeownership, college, early retirement, or even to help you plan to take some time off to travel, like an entire year!
Simply choose your financial objective, enter your financial information, and Wealthfront will direct you on how to plan and prepare.
Self-Driving Money
One of the biggest and largely unrecognized obstacles for most investors is something known as cash drag. That’s when you have too much of your portfolio sitting in cash, which may earn interest, but it doesn’t provide the investment returns you can get in a diversified investment portfolio.
Wealthfront has addressed the cash drag dilemma with their newly released Self-Driving Money features. It’s a free service offered by the robo-advisor that essentially automates your savings strategy. It does this by automatically moving excess cash to help meet your goals, including into investment accounts where it will earn higher returns. And in the process, it eliminates the need to make manual cash transfers, and the judgment needed to decide exactly when to make that happen.
Our vision of Self-Driving Money is going to be a complete game-changer for people’s finances, said Chris Hutchins, Head of Financial Automation at Wealthfront. We want to completely remove the burden of managing your money so you can focus on your career, your family or whatever is most important to you.
You can take advantage of Self-Driving Money from the Wealthfront Cash Account. You’ll set a maximum balance for the connected account, which should be an amount that’s more than you expect to spend or withdraw on a monthly basis.
How It Works
When Wealthfront determines you’re over your maximum balance by at least $100 it will schedule an automatic transfer of the excess cash based on your goals. For example, you can tell Wealthfront you want to save $10,000 in an emergency fund, then max out your Roth IRA, then put the rest toward saving for a down payment on a house. Once you set the strategy, Wealthfront will automate the rest.
And before it happens, you’ll receive an email alert, then always have 24 hours to cancel the transfer if you need to cover unexpected expenses. You’ll also be able to turn on and off your Self-Driving Money plan at any time.
It’s usually possible to set up automated transfers from external accounts into most investment accounts. But what sets Wealthfront apart is the fact that it will make those transfers automatically. They will make sure you always have enough cash to pay your bills, then automatically transfer any excess into your savings buckets or investment accounts to improve the return on your money.
The strategy is designed to optimize your money across spending, savings, and investments, and to make it all flow with no effort on your part. You can simply have your paycheck direct deposited into your external checking account or Wealthfront Cash Account, cover your expected monthly spending, then have excess funds automatically transferred into the Wealthfront account of your choice.
By delivering on its Self-Driving Money vision, Wealthfront is taking the robo-advisor concept to a whole new level. Not only do you not need to concern yourself with managing your investments, but now even funding those investments will happen automatically. The result will be near complete freedom from the financial stresses that plague so many individuals.
Wealthfront Fees
Wealthfront has a single fee structure of just 0.25% per year for their advisory fee. That means you can have a $100,000 portfolio managed for just $250, or only a little bit more than $20 per month.
The one exception is the Wealthfront Risk Parity Fund, which has a total fee of 0.50% per year.
How to Sign Up with Wealthfront
To open an account with Wealthfront, you’ll need to be at least 18 years old, and a U.S. citizen.
You’ll need to provide the following information:
Your name
Address
Email address
Social Security number
Date of birth
Citizenship/residency status
Employment status
As is the case with all investment accounts, you’ll also be required to supply documentation verifying your identity. This is usually accomplished by supplying a driver’s license or other state-issued identification.
As mentioned earlier, you complete a questionnaire that will be used to determine your investment goals, time horizon, and risk tolerance. Your portfolio will be based on your answers to that questionnaire, and will be presented to you upon completion of the questionnaire.
For funding, you can use ACH transfers from a linked bank account. You will also have the option to schedule recurring deposits, on a weekly, biweekly, or monthly basis. The platform can even enable you to set up dollar-cost averaging deposits.
If you already have a brokerage account with another company, Wealthfront makes it easy to transfer your funds to your new account. If you’re invested in ETFs that Wealthfront supports, Wealthfront will assist with an in-kind transfer.
That means that you won’t have to sell your shares before transferring funds, which lets you avoid capital gains taxes that would be triggered by a sale.
Wealthfront Alternatives
Wealthfront’s closest competitor, and the robo-advisor that offers the most comparable services, is Betterment. They also have an annual advisory fee of 0.25%, but require no minimum initial investment. That could make it the perfect robo-advisor for someone with no money, who plans to fund their account with monthly deposits. Read the full Betterment review here.
Related: Wealthfront vs. Betterment
Another alternative is M1. Also a robo-advisor, M1 enables you to invest your money in what they call “pies”. These are miniature investment portfolios comprised of both stocks and ETFs. You can invest in existing pies, or create and populate pies of your own design. Once you invest in one or more pies, the platform will automatically manage it going forward. What’s more, M1 is free to use. Read more about M1 here.
Related: Wealthfront vs. Vanguard
Read More: The Best Robo Advisors – Find out which one matches your investment needs.
Wealthfront Pros and Cons
Investment options: Wealthfront offers more investment options than just about any other robo-advisor, particularly for investors with at least $100,000.
Reasonably priced: The annual fee of 0.25% is extremely reasonable, especially when you consider the degree of sophistication offered by Wealthfront’s investment methodology.
Tax-loss harvesting: This is available on all accounts, and Wealthfront is probably better at this investment strategy than any other robo-advisor.
Portfolio credit line: Gives you the ability to borrow against your portfolio with ease, and represents a form of margin investing.
Financial planning feature: The financial planning service is free to use and is available to all investors.
Limited access for smaller investors: Some of the more advanced investment portfolios and services are available only to investors with $100,000 or more to invest.
$500 minimum initial investment: It’s a minor issue, though some competitors require no funds to open an account.
FAQs
[faqs-content id=”MXKBSNXLNBBI5PDCYD4XJTU4PM” /]
Should You Sign Up for Wealthfront?
In a word, absolutely! Wealthfront is one of the very top robo-advisors, and you can’t go wrong with this one. Not only do they offer far more services than most other robo-advisors, but they also allow you to grow along the way. For example, as your account increases in value, you can take advantage of more sophisticated investment strategies, including advanced tax-loss harvesting.
That Wealthfront offers its portfolio line of credit and free financial planning services only makes the platform a bit more attractive, But the real benefit is the actual investment service. Wealthfront’s investment service comes extremely close to that of traditional human investment advisors, but at only a fraction of the annual cost.
An AskMetafilter user wonders: How many credit cards do typical people have?
For various reasons I have four credit cards. I always thought of this as too many, but haven’t cancelled mine since the crappiest one is also the oldest, and has no fee, and I want to maintain the age of the card on my credit report. Most people I know have one or two cards. But reading online forums on credit, I see plenty of people with more than four. How many is normal? How many do you have?
According to How Many Credit Cards is Too Many? at MoneyCentral, “most Americans carry between five and ten credit cards”. According to Steve Bucci at bankrate.com:
The average person carries eleven “credit vehicles.” Typically, seven are different types of cards and four are installment loans for cars, furniture, student loans or mortgages.
I heard recently that the average number of credit accounts was 12.7 per person, which is slightly higher than Bankrate’s numbers indicate. The numbers I heard are closer to the average credit statistics at myfico.com:
On average, today’s consumer has a total of thirteen credit obligations on record at a credit bureau. These include credit cards (such as department store charge cards, gas cards, or bank cards) and installment loans (auto loans, mortgage loans, student loans, etc.). Not included are savings and checking accounts (typically not reported to a credit bureau). Of these thirteen credit obligations, nine are likely to be credit cards and four are likely to be installment loans.
Perhaps of more interest to some readers, Nellie Mae has statistics from the year 2000 about student credit card use. Undergrads carry about three credit cards each and graduate students carry about four credit cards each. The credit trap begins early.
Myfico.com also offers information about average debt load:
About 40% of credit card holders carry a balance of less than $1,000. About 15% are far less conservative in their use of credit cards and have total card balances in excess of $10,000. When we look at the total of all credit obligations combined (except mortgage loans), 48% of consumers carry less than $5,000 of debt. This includes all credit cards, lines of credit, and loans — everything but mortgages. Nearly 37% carry more than $10,000 of non-mortgage-related debt as reported to the credit bureaus.
Liz Pulliam Weston at MSN Money sees these numbers and concludes that the media is filled with alarmists. She recently wrote a column entitled The Truth About Credit Card Debt in which she attempts to argue that the U.S. is not filled with people struggling under the burden of too much debt. Weston says that one quarter of Americans have no credit cards. Another third of Americans do not carry a balance on their cards. She claims this is good news. And it is, but I think she’s overstating the situation.
According to her own admission, 45% of American households still carry a median of $2200 in credit card debt. She also admits that debt burdens are climbing (she notes that credit card debt has increased 10% in three years), that debt-to-income ratios are near record highs, and that bankruptcies are at record levels.
Weston’s broad point may be correct, but it minimizes the trouble that millions of Americans have: they’re in debt, and deeply so. Credit cards play a huge role in the problem.
Most experts recommend keeping between two and five low-interest credit cards, and to pay them off regularly. Certainly keep balances below 50% of the max (for credit score purposes and for debt burden purposes). Personally (and I’m no “expert”), I think a person should have zero credit cards if at all possible. If this makes you nervous because you think you need one as a safety net, or if you know (not “think”) that you’re responsible enough to pay off your balance regularly, then carry one or two cards to get free credit report for easy maintenance (preferably rewards cards that you pay off monthly). Don’t carry more. (And if they’re truly for “emergency use”, make them cards that don’t let you carry a balance.)
Too many people focus on credit cards with regards to credit history. The ideal — admittedly very difficult to obtain — is to live a life in which your credit history is irrelevant because you’re not obtaining new debt (aside from a mortgage). I haven’t carried a personal credit card in almost a decade. I don’t miss them at all.
Want to get paid sooner? Your checking account might be able to help.
August 9, 2023
Watching for a direct deposit to hit your bank account can be a stressful waiting game, especially if you have everyday expenses to cover and bills that need to be paid. If this is an all-too-familiar challenge, you aren’t alone. Many Americans live paycheck to paycheck, without much of a financial buffer between paydays. And even after your paycheck is sent to your bank, it can still take a few days before that money is in your checking account and available to spend.
Whatever the reason, being able to get your paycheck early can make a huge difference. And your checking account can actually help you do this, depending on your bank. So, how can you get your paycheck early using an online checking account? It just takes a few simple steps and a little know-how.
Can you get your paycheck early using your online checking account?
Yes! You may be able to get your paycheck early and access your cash even sooner than expected, depending on the checking account you pick. Early access to these funds could help you cover immediate expenses or pay bills without having to rely on credit cards or incur late fees.
Not all online checking accounts allow you to get paid early, but some do. For example, Early Pay is one of the many benefits of a Discover® Cashback Debit checking account, and this feature allows you to tap into qualifying deposits days earlier than scheduled.1
What is Early Pay?
Early Pay is a no-fee service offered to Discover checking account customers, giving you access to qualified Automated Clearing House (ACH) funds up to two days early. (ACH is an electronic fund transfer network across which banks and credit unions transfer money.) Eligible funds can include a direct deposit paycheck from your employer or an ACH transfer from a government entity, just to name two.
With the Early Pay feature, your direct deposits are made available to you soon after Discover is notified that the pending transfer is on the way. This means you can pay bills, make purchases, and prevent overdrafts on your Discover checking account up to two days earlier than expected.
How do I set up direct deposit?
The process for setting up direct deposit will vary by the payor (your employer, in most cases). Payors often have their own direct deposit form for you to fill out, or you may be able to provide an ACH form that your bank generates on your behalf.
In order to set up direct deposit, you’ll need to provide the payor with information such as your:
Name on your account
Bank name
Bank account and routing numbers
Bank address
Also, you’ll likely need to tell the payor how you want the money deposited. Suppose you want half of your paycheck to go into savings, for example, or a set dollar amount to be redirected into another checking account. You may be able to specify those details when you set up direct deposit.
Checking with cash back and no monthly fees
Discover Bank, Member FDIC
What types of accounts are eligible for Early Pay?
Early Pay is available to Discover customers with online checking accounts, online savings accounts, or money market accounts. Early Pay isn’t available for Individual Retirement Account (IRA) savings accounts or IRA CDs because those are retirement accounts that aren’t typically used for short-term expenses.
What kinds of ACH deposits qualify for Early Pay?
If you have an online checking account, online savings account, or money market account with Discover, your ACH deposits may be eligible for Early Pay.
How early will direct deposit funds be available?
Discover Cashback Debit customers may be able to access their eligible direct deposit funds up to two days early. The timeline depends on when the ACH transfer is initiated by the payor and when Discover is notified that funds are on their way.
Will funds from my qualifying direct deposit always be available early?
Early Pay is available to eligible banking customers with qualifying direct deposits, but does direct deposit come early for all Discover customers, all the time? Not necessarily. Discover can’t guarantee that the funds will always be available early because of actions the payor may take. Timing can also depend on when Discover is notified of the pending payment.
How do I enroll in Early Pay?
If you’re wondering how to get your direct deposit funds early with Early Pay, it’s easier than you might think. Once you get set up with direct deposit, which is usually done with an employer or benefits provider like Social Security, Discover takes care of the rest. Or, if you’re already receiving qualifying ACH direct deposits into your checking, savings (excluding IRA savings), or money market account, you’re already automatically enrolled in the Early Pay feature. Once Discover is notified that a qualifying ACH payment is en route, you can have access to your money up to two days early.
Is there a fee for using Early Pay?
For Discover Cashback Debit customers, there’s no fee for the Early Pay feature. This means you can access your ACH deposits sooner at no additional cost.
Can I be informed when my direct deposit posts with Early Pay?
You sure can. With Discover Cashback Debit, you’ll automatically be set up with Early Pay email alerts, so you’ll always know when your paycheck or other qualified deposit hits your account. If you want to turn off email alerts, you can unsubscribe anytime. And if you prefer text or push notifications, you can turn those on in the Discover App.
Start using your checking account to get your paycheck early
When choosing a bank, you’ll want to look for important benefits such as no fees, expansive ATM networks, mobile check deposit, and even rewards on checking accounts. Being able to get your paycheck early might be one of the most beneficial perks, though, whether you need it to pay some bills or if you’re ready to make a big purchase.
Discover Cashback Debit customers enjoy more than 60,000 no-fee ATMs in their network, receive 1% cash back on up to $3,000 in monthly debit card purchases,2 and can even get paid up to two days sooner with Early Pay—all with no fees. Take a closer look at Discover Cashback Debit and see if it’s right for you.
1 Early Pay is automatically available to checking, savings (excluding IRA savings) and money market customers who receive qualifying ACH direct deposits. At our discretion, and dependent on the timing of our receipt of the direct deposit instructions, we may make funds from these qualifying direct deposits available to you up to 2 days early. See our Deposit Account Agreement for more information.
2ATM transactions, the purchase of money orders or other cash equivalents, cash over portions of point-of-sale transactions, Peer-to-Peer (P2P) payments (such as Apple Pay Cash), online sports betting and internet gambling transactions, and loan payments or account funding made with your debit card are not eligible for cash back rewards. In addition, purchases made using third-party payment accounts (services such as Venmo® and PayPal®, who also provide P2P payments) may not be eligible for cash back rewards. Apple Pay® is a trademark of Apple Inc. Venmo and PayPal are registered trademarks of PayPal, Inc. Samsung Pay is a registered trademark of Samsung Electronics Co., Ltd. Google, Google Pay, and Android are trademarks of Google LLC.
Articles may contain information from third-parties. The inclusion of such information does not imply an affiliation with the bank or bank sponsorship, endorsement, or verification regarding the third-party or information.
Have you ever held back from asking a question? Although you really want to know the answer, you might hold back because you are afraid that your question is stupid. But when it comes to personal finances – there is no such thing as a stupid question.
In fact, by holding off on asking simple questions, you could seriously jeopardize your financial future. On Ask A Stupid Question Day, I will share the questions that I thought were too stupid to ask when I started my personal finance journey.
Let’s dive right in!
What’s Ahead:
Ask A Stupid Question Day
Ask A Stupid Question Day is a holiday celebrated on September 28th in the United States. School teachers started the holiday in an effort to encourage students to ask more questions.
Although the holiday is traditionally celebrated in a classroom, you are never too old to ask questions. Asking questions is important for all aspects of life, but it is especially important in building a solid financial future.
No one is simply born with the answers to all the personal finance questions you might have along the way. Instead of guessing, it is important to seek out the answers to personal finance questions. With a little bit of knowledge, you can set yourself up for a bright financial future. Without taking the time to seek out the right answers for your financial situation, you may encounter a bumpy road ahead.
Why there aren’t any stupid questions when it comes to personal finance
When I started my own personal financial journey, I had so many questions that it was intimidating to even start asking. I often worried about whether or not my questions would be seen as silly. But I quickly realized that there is no such thing as a stupid question where finances are concerned. There are even financial advisors, like those found through The Paladin Registry, that specialize in helping you find answers. It is much better to ask the question than let it burn a hole in your brain – and potentially derail your financial future.
You can, and should, take the time to ask any questions that pop into your brain. As you start to approach your finances, you’ll encounter a litany of questions. That’s okay! If you have plenty of questions, that means that you are ready to take responsibility for your finances.
Don’t be afraid to seek out the answers to the money questions that are swirling around in your head. With more information, you will be better prepared to build a worry-free financial future.
Questions that helped me on my personal finance journey
As you first start making decisions that have financial ramifications, you will find that many questions will pop up. You’ll start wondering about things that you had truly never considered before.
I found that asking a series of basic questions over the years has helped me create a relatively secure financial position. I will share a few of the questions that have helped me over the years below.
How to set up a bank account that works with me?
If you are anything like me, then you likely opened up a bank account with a big bank to get you started. It seemed like the simplest option when I was 18 and needed a bank account to accept my direct deposited paychecks. But what I didn’t realize at the time was that the big bank that I had chosen would provide an account experience riddled with fees.
For a while, I simply accepted that fees were just a part of my banking experience. But then, I started to question my logic and look at what other banks had to offer. One financial app that I wish I had known about sooner is Chime®.* The online financial services app offers a completely no fee experience that can come in handy. 2
Chime allows you to manage your money without worrying about any fees along the way. With the help of automatic savings features, real-time alerts, and no minimum balances to hold you back, you’ll be ready to up your savings game in no time.
Instead of working against the endless stream of account fees with a bigger bank, why not look for a bank that won’t stand in the way of you reaching your financial goals?
* Chime is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC. 2 There’s no fee for the Chime Savings Account. Cash withdrawal and Third-party fees may apply to Chime Checking Accounts. You must have a Chime Checking Account to open a Chime Savings Account.
How can I avoid taking on too much debt?
When you are starting out, then the thought of paying for everything upfront can seem overwhelming. Especially when everything from school tuition to living expenses can be covered with a variety of loans. It can be very tempting to take on loans to cover your expenses. But taking on too much debt early in life can dramatically negatively impact your financial future.
It is no secret that a heavy debt burden can put a damper on your finances for years to come. But how can you avoid taking on too much debt? Consider living as cheaply as possible when you are faced with the option of taking on more debt. Do your best to limit extra expenses if you know that you cannot afford it at the moment.
If you can’t lower your expenses, then consider picking up a side hustle to make ends meet. Or if you are looking to cover educational costs, then seek out scholarships or work-study opportunities to lower your overall costs. If you are able to avoid taking on more debt, your future self will thank you!
How can I save more money?
As you likely know, saving money is important. But you might not know how you can keep more money in your wallet. After all, life can be expensive, and it can be all too easy to feel light on savings!
Luckily, there are many ways to save more money. Although you’ll likely need to get creative, it is likely possible to squirrel away more of your income. As you build your savings, stash them somewhere safe. Specifically, a high yield savings account is one of the best places to store your savings. Not only will you enjoy the protection of FDIC insurance, but also a relatively high return on your savings compared to traditional savings accounts.
One of the best available high yield savings accounts is the CIT Savings Builder. The account provides an APY of 1.00% if you have a balance of $25,000 or deposit $100 each month. See details here. With this account, you won’t need to worry about account fees cutting into your savings. Plus, the incentive of a higher APY will encourage you to build strong saving habits each month.
CIT Bank. Member FDIC.
What is my credit score and why does it matter?
As if the world of personal finance wasn’t confusing enough, you’ll eventually encounter your credit score. The three-digit number can have a big impact on your finances. But what does it even mean?
Your credit score is based on your credit history. Your credit history is a record of financial transactions that provides the details which determine your credit score. Generally, a clean report without any late payments or large outstanding balances will lead to a high credit score. With a high credit score, you can access credit opportunities more easily. For example, you could more easily obtain a mortgage with a low interest rate with a high credit score. On the flip side, a bad credit score could reflect a history of late payments or a high credit utilization rate.
Take some time to better understand how credit works today.
How can I start investing?
As you get your financial bearings, the call to invest money for your future will become stronger. The good news is that it can be fairly easy to get started investing. Even starting with a small amount of money can lead to big long term rewards.
The best place to get started is to seek out an investment platform that will allow you to work towards your goals.
If you want to learn more about the inner workings of building an investment portfolio, Public’s platform is designed to work with you beyond simply choosing your preferences. With Public, you’ll have access to helpful guidance and answers to all of your investment questions. Plus, you’ll enjoy the commission-free trading offered by Public.
Should I buy a house?
As you venture into adulthood, the question of where to live becomes more important every day. The big question is whether you should buy a place or continue renting for now. The answer to this question depends on your situation.
You’ll need to consider your current savings situation and your plans for the future. If you want to leave the area in a year or two, then renting might be easier. But if you are planning to stay for years, then owning a home might be the best economic approach.
Personally, I’ve chosen to buy a home with my husband. But only after asking many questions and listening to both sides of the debate. If you are struggling to determine the best solution, then check out MU30’s rent vs. buy calculator to help you crunch the numbers of this decision.
How can I maintain a budget and still have fun?
As you stare down your long term money goals, it can seem a bit overwhelming at first. After all, how are you supposed to have any fun while attempting to save every last penny? The answer is that you need to determine your spending priorities when creating a budget.
It is completely possible to enjoy your life and have fun while sticking to a budget. Although frugal fun will require some creativity, you can make it happen. But remember that it is important to find a balance between saving and spending. Both are important, so find a way to strike a balance that you can live with.
For me, this means allocating a substantial portion of my budget towards travel spending. But I still sock away a larger portion of my income to reach my long term financial goals. I could meet those goals sooner if I gave up my travel spending habits – but I’m not willing to sacrifice that balance.
A budgeting and savings app like Empower can help with that. Using Empower, I can set spending limits for each category in my budget. As I reach my limit, the app alerts me so that I know to cut back a little.
Best of all, after I tell Empower my savings targets, the app will automatically set a little money aside each week to help me reach my goals. And, if expenses are unusually high, Empower cuts back on what it sends to savings.
*Empower is a financial technology company, not a bank. Banking services provided by nbkc bank, Member FDIC.
Summary
I hope you’ve realized by now that the ‘stupid’ questions I asked about money weren’t stupid at all! As I continued to make decisions about my financial future, a curious mind has helped me seek out the best possible options for my situation.
As you continue making decisions about your personal finances, I strongly encourage you to ask all the questions that pop into your head. After all, it never hurts to ask the question – especially when the answer can help you reach your financial goals. Don’t let anything stand in your way from learning what you want to. Let the knowledge empower you to take charge of your finances and move in the direction you desire!