As for the lender side, BAC has tapped Eddy Perez of EPM, Phil Shoemaker of The Loan Store, Chris Vinson of Windsor Mortgage, and Kevin Peranio of PRMG, Inc. Rounding out the board are BAC’s co-founders, Brendan McKay and Katie Sweeney, who also serve as chief advocacy officer and chief executive officer, respectively. BAC was … [Read more…]
The Broker Action Coalition (BAC) — an independent, nonprofit organization that initiates communications between mortgage brokers and their legislators — formed its first board of directors and leadership council as it kickstarts its work as an independent nonprofit organization.
The newly formed board has 10 voting member seats consisting of four lenders, four brokers, BAC chief advocacy officer and co-founder Brendan McKay, and CEO and co-founder Katie Sweeney.
The industry side of the board includes Eddy Perez, CEO of Equity Prime Mortgage (EPM); Phil Shoemaker, CEO of The Loan Store; Chris Vinson, CEO of Windsor Mortgage; and Kevin Peranio, chief lending officer of Paramount Residential Mortgage Group (PRMG).
Representing the broker side are Elena Boland of Wholesale Mortgage Services, Joseph Dionne of appli Home Loans, Major Singleton of Edge Home Finance and Daniel Iskander of West Capital Lending.
BAC also created seven nonvoting roles that include vendor advisory roles and a leadership council.
The three vendor advisers are Brian Vieaux, president and COO of FinLocker; Sam Parker, owner of My Credit Guy; and Sofia Rossato, president and general manager of Floify.
The leadership councils will focus on specific consumer groups to advocate for diverse causes across a wide range of initiatives, BAC said.
Gay Veale, a mortgage originator at Epoch Lending, will chair the Veteran Homeownership Leadership Council.
Mortgage broker Whitley Cooper from Advocate Home Loans will lead the Black Homeownership Leadership Council, while Amorette Hernandez from CMS Mortgage Solutions will be chair of the Hispanic Homeownership Leadership Council.
Additionally, mortgage broker Jerry Robinson from 1st Choice Mortgage Co. will chair the Government Affairs Leadership Council that focuses on federal legislation.
BAC plans to announce state legislative leadership in the coming weeks.
BAC was formed by AIME CEO Katie Sweeney in 2022 to gauge the industry’s appetite for advocacy and reform. There was no separate leadership group within BAC. Sweeney and McKay, former AIME president of advocacy, have been overseeing the work.
Since its establishment two years ago, Sweeney found immense work to be done on industry accountability and product reform, which led her to take on a full-time role at BAC.
Jonathon Haddad, president of Next Door Lending, will replace Sweeney as the chairman and CEO of AIME starting April 1.
The BAC will continue its efforts on passing the disabled veteran tax exemption bill, as well as efforts around trigger lead reform this year, Sweeney said in a previous interview with HousingWire.
Other regulatory issues that the coalition wants to tackle include the third-party originated (TPO) surcharge imposed by the Federal Housing Finance Agency (FHFA), Fannie Maeand Freddie Mac.
Among the 65,000 members of AIME, BAC was able to engage more than 50,000, according to Sweeney.
In the third quarter of 2023, the broker-driven wholesale channel accounted for slightly more than 16% market share, with retail at 55% and correspondent at 29%, according to an Inside Mortgage Finance (IMF) analysis of first-lien mortgage originations.
Brokers originated $62 billion in Q3 2023, down from $67 billion in Q2 2023 and $81 billion in Q3 2022.
There’s no doubt that being a single mom is challenging. There’s also no doubt that qualifying for a mortgage can be difficult even under normal circumstances.
The National Association of Realtors found that single female buyers account for 9% of all home purchases. This figure is down from 20% in 2010. And the median purchase price for single female buyers was $189,000, which is the lowest of all median home purchases.
For many single mothers, trying to qualify for a mortgage with only one income can feel next to impossible. But as a parent, it’s normal to want to provide a comfortable home for your children.
And thankfully, there are loans and financial assistance programs available that can help you do just that. Let’s look at some of the best mortgage programs available for single moms.
Challenges Single Moms Face in Buying a Home
One of the most difficult challenges that many single mothers face is a lack of income. They are responsible for providing for themselves and their children on one income, and they don’t always receive child support.
It can be challenging because mortgage companies want to see that you have a certain amount of disposable income before they’re willing to lend to you. You need to prove that you can make your monthly mortgage payments, have a low debt-to-income ratio, and a strong credit history.
Plus, most lenders require down payments between 10% and 20%. Most people struggle to come up with this kind of cash, so it can be especially challenging for a single mother.
5 Home Loans for Single Moms
If you’re a single mom looking to purchase a home, there are options available to you. Listed below are the five best mortgage assistance programs for single moms.
1. Down Payment Assistance Programs
Homeownership is a dream for many, but the initial costs can sometimes stand as a formidable barrier. For aspiring homeowners facing this challenge, down payment assistance programs act as a financial bridge, easing the burden of upfront expenses. Offered across various states and localities, these programs are crafted to cater to differing financial situations.
Lifting financial barriers: The highlight of these programs is their primary purpose – reducing the initial costs of buying a home. By either lowering or completely covering the down payment, they create a more accessible route to homeownership for many who might find it out of reach otherwise.
Local solutions for local challenges: Many states and cities have their unique down payment assistance programs designed with their residents in mind. From specific grants to interest-free loans, the types and benefits of these programs can vary widely based on the region.
Multiple options: Some programs might offer flat monetary assistance, like a set grant amount, while others could provide a percentage of the home’s price. Additionally, there might be options that assist not just with the down payment but also with closing costs.
Criteria and eligibility: Like any financial program, these assistance initiatives come with their sets of requirements. Factors like income levels, property location, and first-time homebuyer status can influence eligibility.
Your next steps: If the prospect of reduced initial costs sounds appealing, dive into research specific to your state or city. Local housing agencies and official state websites often provide comprehensive lists of available down payment assistance programs. By understanding what’s accessible in your region, you can make a more informed decision on your path to homeownership.
2. FHA Loans
FHA loans are a popular option for single parents struggling to come up with a down payment. You can apply for this type of home loan through a bank or online mortgage lender, and the Federal Housing Administration (FHA) and the U.S. Department of Housing and Urban Development (HUD) guarantee the home loan.
Flexible credit requirements: One of the most significant advantages of an FHA loan is its lenient credit criteria. Even if your credit score isn’t perfect, you may still be eligible for this loan, offering a lifeline to many potential homeowners who’ve faced financial hiccups in the past.
Lower down payments: Traditional loans often demand a hefty down payment, but with an FHA loan, you can potentially secure your dream home with as little as 3.5% down. This makes the path to homeownership more feasible for individuals without vast savings.
Debt-to-income leeway: Where many conventional loans are strict about debt-to-income ratios, FHA loans often provide a bit more wiggle room, accommodating borrowers with higher debt levels.
Government assurance: With the Federal Housing Administration backing these loans, lenders often feel a heightened sense of security. As a result, borrowers can often enjoy more favorable loan terms and conditions.
Understanding the criteria: While FHA loans offer flexibility, there are still criteria to meet. This includes ensuring the property meets specific standards and falls within set loan limits. Additionally, borrowers will need to pay a mortgage insurance premium (MIP), which can add to the monthly payment. It is usually more expensive than a conventional loan, and it remains in place until you refinance or sell the property.
Getting started with an FHA loan: If the benefits of an FHA loan resonate with your situation, the next logical step is to consult with an FHA-approved lender. They’ll guide you through the process, ensuring you’re informed, prepared, and ready to make the best decision for your homeownership dreams.
3. USDA Loans
When thinking of affordable homeownership, rural areas might not be the first thing that comes to mind. Yet, the U.S. Department of Agriculture (USDA) has paved a unique path to homeownership, especially in these lesser-populated regions. USDA loans stand as a testament to the government’s commitment to making homeownership accessible to a broader audience, regardless of urban or rural preferences.
Zero down payment: The standout feature of USDA loans is the possibility to finance the entire purchase price of a home. Imagine walking into your new home without the stress of a hefty upfront payment. That’s the magic of the USDA.
Flexible location choices: While the term “rural” defines the USDA’s primary target, many suburban areas also fall within their eligibility map. It’s not just about countryside homes; it’s about expanding homeownership in less densely populated areas.
Competitive interest rates: Often, USDA loans come with interest rates that are either at par or even better than conventional loans. This can translate into significant savings over the life of the mortgage.
Government guarantee: With the backing of the U.S. Department of Agriculture, lenders often extend more favorable terms to borrowers. This backing ensures lower risks for lenders and better loan conditions for aspiring homeowners.
Understanding eligibility: To be a part of the USDA’s vision, you’ll need to meet specific criteria. This includes income restrictions based on the median in your area and ensuring the property falls within the USDA’s designated zones.
Starting the USDA adventure: If the prospect of a no-down-payment home in a tranquil setting appeals to you, look into the USDA loan process. Engaging with a lender familiar with USDA loans will offer clarity and set you on a promising path toward a home that aligns with your dreams.
4. VA Loans
For those who have bravely served in our nation’s military, VA loans are the government’s way of saying thanks. Whether you’re a veteran, an active-duty service member, or the widow of someone who served, these loans offer distinct benefits tailored to recognize and support your sacrifices.
No down payment: What sets VA loans apart is the option to finance 100% of a home’s purchase price. That means you can step into homeownership without the heavy upfront cost that often deters potential buyers.
Low-interest rates: Traditionally, VA loans come with interest rates that are more competitive than many conventional loans. Over the lifespan of your mortgage, this could equate to substantial savings.
Skip the PMI: With many mortgages, if you can’t put down a certain percentage, you’re hit with the additional monthly cost of private mortgage insurance (PMI). However, with VA loans, you won’t have to factor in PMI, no matter your down payment amount.
Government assurance: With 100% backing from the government, lenders often offer more favorable terms. It’s a win-win; you get better conditions, and they get added security.
Meeting the criteria: To take advantage of a VA loan, you’ll need to meet specific service stipulations. The criteria vary based on your military service’s nature and duration. Additionally, the property you choose must meet VA standards, which entails an inspection and appraisal by a licensed professional.
If a VA loan sounds like a good fit, your next step is to consult with a VA-approved lender. They’ll walk you through the ins and outs, ensuring that you’re both eligible and fully informed.
5. HomeReady Mortgage by Fannie Mae
If you’re a single mom or a first-time homebuyer searching for a more flexible mortgage option, the HomeReady Mortgage by Fannie Mae might be just what you’re looking for. This program is designed to assist individuals, like you, in accessing affordable home financing.
Low down payment: With HomeReady, the daunting hurdle of a large down payment becomes more manageable. This program allows for down payments as low as 3%, enabling homeownership for those who might be limited by savings.
Inclusive co-borrowing: Understanding that households today come in all forms, HomeReady offers a unique feature. It permits co-borrowers who won’t be residing in the house, like a supportive relative or close friend. This flexibility can significantly enhance borrowing capacity.
Reduced PMI: While many mortgages saddle borrowers with hefty private mortgage insurance (PMI) premiums, the HomeReady program shines with its reduced rates. Over time, this can result in tangible savings.
Government-backed confidence: Fannie Mae’s backing offers lenders the assurance they need, which often translates to more favorable loan terms and conditions for borrowers.
Meeting the guidelines: Like all specialized loan programs, HomeReady comes with its specific criteria. It’s essential to understand these requirements and ensure that both the borrower and the property align with them.
Stepping into HomeReady: If the features of the HomeReady Mortgage align with your situation, the next step is to liaise with a lender experienced with Fannie Mae’s offerings. Their guidance can illuminate the home buying process, ensuring that you make an informed choice, well-suited to your housing aspirations.
Preparing for Homeownership: Key Steps for Single Moms
Taking the first step towards homeownership as a single mom can feel daunting, but with the right preparation, it becomes a more manageable process. To ensure you’re making the right choices for you and your family, consider these foundational steps:
Determine your budget: Before diving into the property market, it’s crucial to have a clear understanding of your financial standing. Assess your monthly income, expenses, and potential home-related costs. This will give you a clear picture of the mortgage payment you can afford without straining your finances. Remember, it’s not just the monthly mortgage you have to account for; consider property taxes, utilities, and potential maintenance costs too.
Search for low down payment options: Not all home loans for single moms require a hefty down payment. It’s beneficial to look for home buying programs that offer low down payment options. This can help in making homeownership more attainable without depleting your savings.
Establish a savings plan: Even if you opt for a low down payment loan, you’ll still likely need to pay some upfront costs. Establishing a dedicated savings goal can help. Consider opening a high-interest savings account where your money can grow over time, helping you reach your down payment goal faster.
Stay informed: Securing home loans for single moms can be a challenging process. Stay informed by researching and comparing different home loan options. Consider reaching out to financial advisors or housing counselors who can guide you through the home buying process.
In addition to these steps, it’s also beneficial to look into loan programs tailored for low-income borrowers. Such programs can offer favorable loan terms, grants, or even down payment assistance, making homeownership even more achievable.
See also: Best Home Loans for Low-Income Borrowers
Home Loans for Single Mothers FAQs
Can I buy a home as a single mom?
Yes, you can purchase a home as a single mom. However, it can be more difficult to qualify for traditional home loans when you are a single parent.
You may need to look into government-backed loans such as FHA loans or USDA loans, which may have more flexible qualification requirements. Alternatively, you could look into owner-financing or rent-to-own options.
What types of home loans are available for single moms?
Single moms may be eligible for several types of home loans, including FHA loans, USDA loans, VA loans, and conventional loans.
How much money can single mothers borrow when applying for a home loan?
The amount of money that single mothers can borrow when applying for a home loan depends on several factors. These include income, credit score, debt-to-income ratio, and down payment.
Lenders will look at your income to determine how much they are willing to lend, and your credit score will determine the interest rate you receive. It is also important to have a sufficient down payment, typically at least 3-5% of the home’s value.
Additionally, lenders will want to see that your debt-to-income ratio is less than 43%, meaning that your monthly debt payments are less than 43% of your monthly income. With good credit and a sufficient down payment, single mothers may be able to borrow up to 97% of the home’s value.
What is the minimum credit score required to get a home loan for single mothers?
The minimum credit score required to get a home loan for single mothers can vary depending on the type of loan and the mortgage lender.
Generally speaking, FHA loans tend to have the lowest credit score requirements, with a minimum score of 500. This can be helpful for single mothers who may not have the best credit.
Other types of loans, such as a conventional loan, may have a minimum credit score requirement of 620 or higher. It is important to check with the lender to find out the exact credit score requirements for the type of loan you are applying for.
Are there any special programs available for single mothers looking to purchase a home?
Yes, there are several programs available across the U.S. designed to assist single mothers and low-income families in their quest for homeownership. These programs can make the home-buying process more affordable through a combination of grants, low-interest loans, down payment assistance, and more. Aside from the ones we mentioned above, here are some other notable ones:
State-specific programs: Various states offer specific programs to assist single parents or low-income individuals. For instance, states might have special housing grants for single mothers, or they may offer seminars and classes on home buying that come with financial incentives upon completion.
Habitat for Humanity: This non-profit organization helps families build and rehabilitate their homes. Single mothers can offer volunteer hours to the organization as a form of ‘down payment,’ assisting in constructing their own homes or others.
Individual Development Account (IDA): IDAs are matched savings accounts, where for every dollar saved, it gets matched by federal and non-federal funds. This can be a boon for single mothers looking to accumulate a down payment.
Section 8 Homeownership Voucher: While Section 8 is often associated with rental assistance, there’s a homeownership option that allows eligible participants to use voucher payments to make mortgage payments.
Are there any special tax benefits for single mothers who purchase a home?
Yes, there are several tax benefits available to single mothers who purchase a home, such as the mortgage interest deduction and the homeowner’s tax credit.
How can a single parent save for a house?
Set a budget and stick to it: Make sure to create a budget and stick to it. Track your income and expenses and cut out unnecessary costs.
Set realistic goals: Set realistic goals for what you can afford and how much you will need to save each month.
Automate your savings: Set up an automatic transfer from your checking account to savings each month.
Reduce interest-bearing debt: Pay off as much debt as possible.
Use tax-advantaged savings accounts: Consider using tax-advantaged savings accounts, such as an IRA or 401k, to save for a house.
Take advantage of grants and assistance programs: Research grants and assistance programs available to single parents and take advantage of any that you may qualify for.
Make extra money: Look for ways to make extra money, such as a part-time job, side hustle, freelance work, or selling items online.
Live below your means: Live below your means and make sacrifices if necessary.
Talk to a financial advisor: Speak to a financial advisor or real estate agent to get advice on the best way to save for a house.
Does child support count as income for a mortgage?
Yes, child support may be counted as income when applying for a mortgage. Lenders will usually require proof of the payments, such as a tax return or court order.
Bottom Line
None of the home buying programs outlined above are specific to single mothers. However, hopefully, you can see that it’s possible to find an affordable mortgage with a low down payment. Purchasing a home as a single mother can be challenging, but it’s also very doable. Make sure you compare your options and find the program that works best for your family.
Inside: Explore top high income skills that don’t require a degree. From AI to Cybersecurity to copywriting, learn how to earn big and without a traditional education.
In today’s rapidly changing economy, traditional educational paths such as acquiring a master’s degree are no longer the sole route to a lucrative career.
In my own journey, I discovered that mastering certain high-income skills (stock trading) can lead to financial success that outpaces even those with advanced degrees. This revelation underscores the value of investing time and effort into developing marketable abilities that align with industry demands.
These high-paying skills, often honed through online platforms, specialized training, and real-world experience, provide a level of flexibility. Plus an earning potential that can exceed the prospects of conventional academic education.
As such, they represent a powerful, alternate paradigm for career advancement and personal growth that you may want to check out.
Quick Answer
Typically, these are based on online jobs that include expertise in certain fields. These roles leverage the digital space to generate significant income and careers are in demand into the foreseeable future.
You can learn and develop these skills through online educational platforms, which can open up a plethora of high-paying job opportunities without the need for traditional college credentials.
High Income Skills for Tech and Digital Domination
In case you haven’t heard, AI and the tech world are the focus of most high paying jobs.
In fact, Microsoft, Google, and Apple recently stated they will take certification over a college degree.1
Now, let’s explore the various high-income skills that are currently shaping the technology sector and will move to making over six figures.
AI and machine learning
AI and machine learning are not just buzzwords! These fields represent some of the most lucrative areas in tech. As businesses seek ways to make sense of big data, professionals who can design intelligent systems and algorithms are in high regard.
The beauty is that many resources exist to self-educate in this domain, such as online courses, bootcamps, and certifications, making the path accessible for those without a formal business degree.
Best for: This field is ideal for individuals who have a strong aptitude for mathematics, statistics, and programming, and who are passionate about tech and innovation.
Mastering SEO
Search Engine Optimization (SEO) has become a coveted skill in the arsenal of every digital strategist. Why is it so invaluable? Because it acts as the linchpin for visibility in the digital space.
SEO isn’t just about playing with keywords; it’s about understanding the user’s intent, the algorithms of search engines, and the technical makeup of websites to ensure they’re discoverable.
Mastering SEO involves a cocktail of abilities: from understanding meta tags and crafting content that resonates with both humans and search engines, to building a robust backlink portfolio.
Best for: SEO is suited for those who enjoy both the analytical and creative sides of digital marketing and are interested in a dynamic, ever-evolving field.
Cybersecurity
In the digital age, cybersecurity is not just important—it’s essential. Protecting sensitive data and maintaining the integrity of computer systems against threats can be the difference between a thriving business and one that’s exposed to potentially catastrophic breaches.
Notably, cybersecurity proficiency can often be achieved through specialized certifications, bootcamps, or practical experience rather than a traditional degree. Those who commit to ongoing education and remain vigilant of the industry’s pulse become indispensable assets in any organization.
Best for: Perfect for individuals who have a knack for problem-solving, are detail-oriented, and enjoy learning about technology’s cutting edge.
Software Development
As the pillars of our increasingly digital world, software developers write the code that powers everything from mobile applications to global banking systems. The lure of software development as a high-paying skill is evident.
It’s foundational to virtually every industry, offers diverse opportunities for specialization, and provides the satisfaction of building something tangible.
With abundant online resources like coding bootcamps and tutorials, passionate learners can bypass the traditional degree route and directly jump into this lucrative and fulfilling career.
Best for: Individuals who are logical, detail-oriented, and have a strong interest in technology and its potential applications will find a career in software development both rewarding and profitable.
Mobile app development
Mobile App Development is your ticket into the heart of the booming app economy. As smartphone ubiquity grows, so does the need for innovative apps that simplify life—whether that’s for banking, shopping, or entertainment.
Given the high demand for mobile experiences, companies are willing to pay top dollar for developers who can craft intuitive and effective mobile applications. The best part is that this skill can be honed through free courses or even app-building software for those with limited coding knowledge.
Best for: Perfect for those who are not only passionate about coding but also keen on understanding and improving how users interact with technology.
Blockchain Expertise
The field of blockchain has transcended its association purely with cryptocurrencies to become a high-value asset in various sectors. Businesses seek talented individuals who can leverage this technology for secure, decentralized solutions.
Unlike many traditional roles, the burgeoning blockchain field offers the chance for self-taught experts to demonstrate their value based on their skills, portfolio, and understanding of blockchain’s practical applications.
Best for: Blockchain expertise is a high-income skill ideal for individuals who have a strong foundation in technology and an interest in how it can be used to innovate traditional business practices.
Creativity Pays Off with These High Income Skills
Graphic Design
Embarking on a career in graphic design could very well be your gateway to a creatively fulfilling and financially rewarding job market. By marrying aesthetics with functionality, you bring concepts to life, whether it’s through website visuals, logos, or digital media.
The journey to mastering graphic design can be self-directed—you can learn the principles online, through software tutorials, and practice them into existence.
Best for: Individuals with a flair for the arts who enjoy thinking creatively to solve visual challenges and like the aspect of using technology.
Video Production & Editing
In a content-driven era, where video is king, mastery in this field could land you lucrative gigs across various platforms and industries.
Whether it’s for digital marketing, entertainment, or online education, the demand is high, and the barrier to entry is lower than ever—thanks to a plethora of self-teaching resources and accessible technology.
Best for: Those who have a keen eye for detail and a passion for creating engaging, high-quality video content that tells a story.
Professional Photography
Photography captures more than images; it encapsulates emotions, stories, and moments. With the advent of high-quality smartphone cameras and affordable DSLRs, the skill of professional photography is more accessible than ever.
Whether for stock photography, events, or branding, your keen eye for composition and lighting can open doors to a rewarding career without the need for a degree.
Best for: Individuals with a passion for visual arts, a creative mindset, and a strong sense of detail are often the best fit for a high-income career in professional photography.
Copywriting
The pen (or keyboard) can indeed be mightier than the sword in today’s digital-driven world through copywriting.
Articulating compelling narratives that resonate with audiences can catapult brands to new heights, making this skill a valuable asset. The best part? You can cultivate your copywriting prowess from anywhere, thanks to online courses, ebooks, and practice platforms.
All you need is a sharp mind, a clear writing style, and a grasp of persuasive techniques.
Best for: Copywriting is a top choice for those who love writing and are curious about a multitude of topics, with an interest in marketing principles and audience engagement.
Voiceover Artistry or Podcast Production
Unlock the power of your voice and make money – a skill set that’s becoming increasingly profitable. Whether you’re voicing animated characters or hosting a thought-provoking podcast series, the audio medium is a bustling marketplace.
Podcasting, it’s about creating a compelling narrative that listeners can’t resist. While for voiceovers, it’s about bringing scripts to life. Both can be learned through online tutorials, training programs, and practice.
Best for: Individuals with a strong, versatile voice and passion for storytelling will find voiceover work and podcast production both lucrative and rewarding, even without formal training.
Marketing High Income Skills Know-How
Content Creation
Content Creation has become the cornerstone of the digital marketing world, attracting not just audiences but also significant revenue streams. As a content creator, you can weave words, videos, or images to capture attention, inspire, and inform—whether it’s through social media, websites, or other digital platforms.
My path to becoming a content creator was primarily through hands-on experience as well as through consistent practice and staying up-to-date knowledge of digital trends.
Best for: Content Creation is especially suited for those with a creative mindset, who enjoy storytelling and are adept at using digital tools to craft content for an online audience.
Social Media Marketing
This is a brilliant intersection of creativity, strategy, and communication. As a social media marketer, you’ll help brands navigate the bustling social landscape, where billions of users engage daily.
You’ll be tasked with crafting campaigns, analyzing data, and connecting with audiences in a way that drives not just likes, but also leads and loyalty—all of which you can master through free online resources and real-world practice.
Best for: Those who enjoy fast-paced, dynamic environments and have a knack for engaging with people and understanding modern communicative trends.
Affiliate Marketing
Becoming an influencer and tapping into the world of affiliate marketing seems so easy but truly it is a strategy where your persuasion skills can translate into earnings—all without a formal degree.
By promoting products or services via unique affiliate links, you earn commissions on sales. Flourishing in this domain stems from understanding your audience and aligning the products you endorse with their interests.
Best for: Those who have a passion for sales and marketing, are comfortable with self-promotion, and are interested in monetizing their digital presence.
Sales Strategies
The key to unlocking staggering profit margins and business growth is sales and this doesn’t require formal education. This high-income skill revolves around understanding consumer psychology, building relationships, and convincingly presenting products or services.
Many times, those in sales have a knack for the industry. Whether refining your approach through online courses, books, or hands-on experience, excellence in sales comes down to a blend of empathy, insight, and adaptability.
Best for: Excellent fit for outgoing individuals who thrive in competitive environments and derive satisfaction from meeting and exceeding targets.
High Income Skills That Work With People
Language translation and interpretation
This is not only about converting words from one language to another; it’s about bridging cultural divides and facilitating communication. With the globalization of business and the rise of remote work, fluent speakers in multiple languages can capitalize on a multitude of high-paying roles.
And the best part? You can often get started with just bilingual proficiency, some formal certification, and a deep understanding of cultural nuances.
Best for: Ideal for multilingual individuals passionate about language and communication, with a desire to facilitate dialogue in an increasingly connected world.
Freelance consulting in various niches
These are seasoned professionals with an avenue to monetize their wealth of experience and expertise. This thriving field allows you to empower clients with your knowledge, whether it’s in marketing, finance, HR, or any other domain.
What’s more, you can kickstart this lucrative journey with minimal prerequisites—a strong track record, a portfolio of successful projects, and perhaps some industry-recognized certifications.
Best for: Experts in their respective fields who are adept at problem-solving, enjoy sharing their insights and are looking for flexible, high-income opportunities.
Coaching
This is a skill that transforms lives and careers, catapulting you into roles where you guide and motivate others to achieve their personal and professional goals.
As a coach, whether it’s in life, business, career transition, or personal development, you can create a substantial income stream. What’s particularly enticing about coaching as a high-income skill is that it often requires no formal degree—many coaches are self-taught, certified through various programs, and most importantly, driven by a passion to help others succeed.
Best for: Coaching is perfect for individuals with a strong desire to help others, who can cultivate trust, and who possess both the self-discipline and initiative to build their own coaching business.
Public Speaking
Often touted as a soft skill, public speaking has immense potential as a high-paying expertise. The ability to captivate, engage, and influence an audience is invaluable in various professional settings—from corporate presentations to motivational speaking circuits.
The good news is that you can develop this skill through local workshops, online courses, and ample practice. Perhaps even more compelling, is how public speaking bolsters other aspects of personal development, such as confidence and clarity of thought.
Best for: Individuals who enjoy expressing their ideas, exhibit strong interpersonal abilities and derive satisfaction from influencing and inspiring others.
Real Estate
A dynamic field where you can significantly profit from the buying, selling, and leasing of property.
With the right approach and knowledge, personalized by your unique sales flair, you can achieve notable success without the prerequisites of a higher degree. It’s all about your ability to network, negotiate, and understand market trends, guided by state-specific licensing requirements.
Best for: Suited to go-getters with an entrepreneurial spirit, a passion for property, and the perseverance to cultivate a strong portfolio of clients and sales.
High Income Skills for Introverts
Stock Trading
My personal gateway to the exhilarating world of finance, where the potential for high earnings exists for those with the knack and nerve for it.
This high-stress skill—often considered one of the most lucrative skills without a degree—entails buying and selling stocks or options to capitalize on daily market fluctuations. While challenging, with diligent self-education, a cool head for numbers, and a calculated risk approach, you can make stock trading a profitable venture.
Best for: Stock Trading is particularly fitting for those who exhibit patience, enjoy learning about economics and finance, and can handle significant levels of stress without clouding their judgment. Highly recommended to take an investing course.
UX/UI Design
Focusing on crafting meaningful interactions between users and products, UX/UI designers are the architects behind the intuitive use of websites and applications.
The plethora of free resources and communities available online means you can build a portfolio and learn this sought-after skill without a degree.
Best for: Creative minds who have an affinity for technology and user psychology and who enjoy the iterative process of improving product usability and appeal.
Web development and coding
Building and maintaining the structural foundation of websites offers a variety of high-income opportunities without necessarily requiring a four-year degree. Armed with the knowledge of HTML, CSS, and JavaScript, which can be self-taught through platforms like Codecademy, you can create and innovate on the internet’s exciting canvas.
Best for: Analytical thinkers who also appreciate creative expression, and those willing to evolve with the digital landscape constantly.
Data Analysis
Transforming raw numbers into actionable insights, data analysts contribute significantly to strategic decision-making. Fascinatingly, this skill is achievable without a degree, thanks to a plethora of online tools and courses in Excel, SQL, and Python that are freely available.
With a logical mindset and an eagerness to decipher data stories, you could secure a high-income position in businesses of all stripes, from tech startups to major corporations.
Best for: Suitable for those who enjoy crunching numbers, identifying patterns, and have a deep curiosity about how information can influence business strategies.
Bookkeeping
A critical yet often understated skill that plays a foundational role in businesses both big and small. As a bookkeeper, you steward financial accuracy, track transactions, and ensure the book balance.
What may come as a surprise is that modern bookkeeping doesn’t always require a degree—there are online courses that can pave the way for a high-income career for detail-oriented and number-savvy individuals.
Best for: Those who appreciate routine, enjoy working with numbers and take satisfaction in playing a key support role in a business’s financial health.
Must Need High Income Soft Skills
In today’s competitive job market, possessing high-income soft skills can significantly enhance your career trajectory and boost your earning potential.
These soft skills not only complement your technical abilities but also ensure you are a valuable asset to any team, fostering seamless collaboration and leadership. As the workplace evolves, employers increasingly seek candidates who exhibit a rich blend of interpersonal and strategic skills that drive business success.
Problem-solving skills for critical situations are invaluable, and the best news? Whether it’s through active listening, analytical reasoning, assessing risks, or critical thinking, being adept at navigating complex problems can set you apart in the workforce.
Communication skills in professional environments are the linchpin of a thriving career. Being able to articulate your thoughts and listen to others effectively means smoother collaborations and clearer negotiations.
Time Management for efficient productivity is a transformative skill that can make or break professional success. Mastering time management means accomplishing more in less time, leading to greater productivity without the need for a formal degree.
Leadership and Team Management capabilities signal an upgrade in your professional toolkit. Great leaders can marshal a group towards common goals, fostering teamwork, and eliciting the strengths of each member.
Negotiation Skills for Maximizing Value are a powerhouse in the world of commerce, crucial for deal-making and advancing business interests. Learning the art of negotiation is possible without formal education; it’s about understanding human psychology, effective communication techniques, and strategic planning.
Creative Thinking for Innovative Solutions is a valued asset in any business context, prized for driving forward unique and effective problem-solving. This type of thinking allows you to step outside traditional boundaries and generate fresh ideas.
Stepping into the entrepreneurial arena can be your ticket to independence and potential high earnings. Entrepreneurs are the trailblazers of the business world, initiating new ventures, and driving economic growth. While there’s no fixed educational path to entrepreneurship, the journey is fueled by a diverse skill set including innovation, perseverance, management, and the ability to pivot strategies as needed.
FAQs
A skill is considered ‘high-paying’ in 2024 if it is in high demand, offers significant value to employers or clients, and requires a level of expertise that’s not easily found.
These skills typically address current market needs, technological advancements, or specialized knowledge that can drive revenue, increase efficiency, or create competitive advantages. Essentially, the rarer and more necessary the skill, the higher the potential earning power becomes.
Yes, self-taught skills can compete with a traditional degree, especially in industries that prioritize practical experience and proven ability over formal education.
Personally, I can attest to this as I learned many of these high income skills long after I completed my degree.
In fields like technology, digital marketing, or creative arts, a portfolio showcasing your work often carries more weight than a degree. Furthermore, many companies adopt skills-based hiring practices, valuing competency and initiative as key indicators of a candidate’s potential.
Which High Paid Skill to Learn Will You Focus on?
In conclusion, acquiring high-income skills is a powerful strategy for advancing your career and unlocking new professional opportunities or even side hustles. In fact, many are ways to make money online.
This is a simple way to increase the amount of money you make each month.
By embracing continuous learning to hone these in-demand abilities, you can significantly enhance your earning potential and job market desirability.
Investing in the development of high-income skills will pave the way for a brighter, more prosperous future. Just like finding a low stress jobs that pay well without a degree.
Don’t just read. Now, is the time to take action!
Source
Business Insider. “Microsoft doesn’t require a college degree for entry-level jobs.” https://www.businessinsider.com/microsoft-execs-no-college-degree-for-entry-level-positions-2020-2#ping-look-who-leads-microsofts-cybersecurity-detection-and-response-team-added-that-candidates-who-apply-to-jobs-without-a-college-degree-already-signal-a-level-of-determination-that-she-respects-3. Accessed February 18, 2024.
Know someone else that needs this, too? Then, please share!!
Did the post resonate with you?
More importantly, did I answer the questions you have about this topic? Let me know in the comments if I can help in some other way!
Your comments are not just welcomed; they’re an integral part of our community. Let’s continue the conversation and explore how these ideas align with your journey towards Money Bliss.
For some people, freelancing is the way they earn their living, relishing the freedom and flexibility of this type of work. For others, it’s a smart way to bring in some income in addition to a salary. Regardless of whether you’re managing your freelance business as a full-time endeavor or a side hustle, one fact is true: You’ve got to pay taxes on your earnings.
In this guide, you’ll learn about the steps to take in your situation, including:
• How do you pay taxes as a freelancer?
• Why are freelance taxes higher?
• What are some ways to reduce taxable income?
• What deductions should freelancers take?
• What should freelancers know about tax refunds?
How Taxes for Freelancers Are Different
The first thing to note is that taxes for freelancers are notably different in two major ways: Freelancers pay a larger percentage of their income (because of self-employment tax), and they’ve got to make estimated tax payments every quarter.
What Is Self-Employment Tax?
For the 2023 tax year, self-employment tax is 15.3%. That’s 12.4% for Social Security and 2.9% for Medicare.
That doesn’t mean that’s all that freelancers pay. Self-employment tax is what freelancers pay on top of regular income taxes. The percentage you pay in income taxes depends on what tax bracket you’re in but can range from 10% to 37%.
Why do freelancers pay a self-employment tax? When you’re an employee for a business who receives a W-2 form, your company pays some taxes for you.
But if you’re a freelancer — whether a writer, photographer, dog walker, or consultant — your clients don’t pay any taxes for you, so you’ve got to pick up the slack.
And don’t forget: You may also have to pay state and local taxes, depending on where you live.
What Are Quarterly Taxes?
Most people think of April 15 as the dreaded Tax Day for all Americans, when they have to pay their taxes. But taxes aren’t actually due on April 15: They’re due when you earn the money.
That’s why employers withhold taxes from every paycheck. Tax season is just that special time where the IRS wants you to go over the numbers and make sure the right amount was withheld — and pay up if you actually owe more. (Or, if you overpaid, file your return to claim a refund.)
But since taxes aren’t withheld when freelancers earn revenue from clients, the government expects freelancers to make quarterly tax payments throughout the year.
Freelancers have two options:
1. Pay 100% of the taxes they owed the prior year, split over four payments.
2. Pay 90% of the taxes they’ll owe for the current year, split over four payments.
Note that these percentages may be different if you’re a farmer, fisherman, or high-income earner.
Estimated taxes are among the most complicated parts of being a freelancer, and you can face underpayment penalties if you don’t send Uncle Sam your fair share throughout the years.
You can check out the IRS’s guidelines for estimated taxes , but a tax professional may be worth the cost if you’re confused.
💡 Quick Tip: Typically, checking accounts don’t earn interest. However, some accounts do, and online banks are more likely than brick-and-mortar banks to offer you the best rates.
Paying Taxes as a Freelancer
Now that you understand that freelancers must pay more in taxes and that they need to keep track of more tax deadlines, consider the actual process for freelancer tax filing.
Here’s how to pay freelance taxes in five steps.
1. Determine If You Have to Pay Freelancer Income Tax
First and foremost, it’s a good idea to make sure you actually have to pay freelancer taxes. If you fit the bill of the IRS’s definition of an independent contractor, you’ll have to file as a freelancer and will be subject to self-employment taxes.
The IRS says you’re an independent contractor “if the payer has the right to control or direct only the result of the work and not what will be done and how it will be done.”
It’s a rather broad designation and might fit traditional freelance gigs like writers and graphic designers, but it can also apply to app-based workers, like drivers for Uber and Lyft, and even doctors, lawyers, and veterinarians.
Even if you receive a W-2 from an employer but made other revenue on the side, you’re still subject to freelancer income taxes — and must make estimated payments on that income.
2. Calculate How Much You Earned
As a freelancer, you may receive 1099-NECs from clients for the work you do, detailing just how much money you made from them (as long as you made $600 or more).
Even if you don’t receive a 1099, you still have to report any income you made on your tax return. This means paying taxes if you are paid on Venmo or another platform versus by check or a direct deposit.
If you don’t declare the income, you’re committing tax fraud — and the IRS can find out during an audit.
You may want to use a tax preparation checklist to help you organize these materials. You might start by compiling all your 1099-NECs and any other income forms, including 1099-INTs, 1099-Ks, 1099-MISCs, and W-2s, and then input them on your tax return or into your tax software. If you have additional income not represented by any forms, you’ll be able to report that as well.
3. Compile Your Business Expenses
As a freelancer, you can deduct genuine business expenses from your taxable income. The more expenses you have, the lower your adjusted gross income — and the less you have to pay in taxes.
These are called tax deductions. Many tax filers choose to take the standard deduction: $13,850 for single people or married individuals filing separately and $27,700 for married couples filing jointly. However, freelancers with a lot of business expenses might earn a larger deduction by itemizing all their business expense deductions.
Common Tax Deductions for Freelancers
Business expenses can vary significantly depending on the kind of work you do, but you may be able to to use some of these freelancer tax deductions, like:
• A portion of your rent or mortgage (your home office deduction)
• Phone and internet bills
• Any computer and software expenses
• Automotive expenses, including miles on your car when used for business (and only for business)
• Office supplies
• Travel expenses
• Marketing and advertising expenses
• Continuing education
Freelancers may also be able to take the qualified business income deduction and self-employment tax deduction.
Other Tax Deductions and Tax Credits
Business expenses may apply to freelancers specifically, but independent contractors can take advantage of other common tax deductions and credits.
Other common tax deductions include mortgage interest payments, charitable contributions, student loan interest payments, and the state and local tax deduction.
Tax credits are also a useful tax tool and can greatly reduce your tax bill as a freelancer. Some popular tax credits include the child tax credit, Earned Income Tax Credit, and electric vehicle tax credit.
Recommended: Fastest Ways to Get Your Tax Refund
4. Account for Estimated Payments
If you made estimated tax payments the previous year, don’t forget to apply those to your tax form when filing. After all, if you’ve handed over a chunk of change to the IRS already, you’ll want credit for it.
You’ll add your total payments to line 26 on Form 1040 if filling out the form yourself, but most tax software and accountants should prompt you for this information.
5. File and Calculate Estimated Payments
The last step in how to pay freelance taxes: You’re now ready to complete your forms, and send in your tax return and any payments that you owe. And it’s not necessarily just federal taxes that are needed for freelancer tax filing: Depending on where you live, you may owe state, local, and school district income taxes as well.
After filing, surprise: You’re not done yet. You’ll also need to estimate taxes for the current year. Your first quarterly payment is due on Tax Day in April.
If you’re working with an accountant, they can help you calculate how much you’ll likely owe and print out vouchers for you to mail in with your payments. If you wind up making significantly more or less throughout the year, you can adjust your estimated payments to match. That’s part of learning how to budget on a fluctuating income.
Freelancer Tax-Filing Tips
Freelancing and taxes can seem complicated. Here are tips to help you save money and hit all your deadlines.
Plan for Retirement as a Freelancer
Reducing your taxable income is helpful when you have to pay significantly more in taxes on your earnings. One way to do this — and prepare for your future — is to open a retirement account and make pre-tax contributions.
You can contribute to a traditional IRA, but there are also retirement plans designed for self-employed individuals, including a SEP IRA and a solo 401(k). It’s worth educating yourself about how these work and contribution limits so you can find the best option for your financial situation and aspirations.
Research Deductions
You may be tempted to take the standard deduction when filing, but if you have a lot of business expenses, you may earn a larger tax break by itemizing. Tax software and accountants generally know all the different types of taxes and guidelines. They can help you find all the tax deductions you qualify for, but it never hurts to do some research on your own.
Stay Organized
Organization is crucial when running your own business — and that holds true at tax time. By organizing your bills and tracking your income throughout the year (even on a daily basis), you should have good records of all your revenue and expenses.
Find record- and receipt-keeping systems that work for you. You may also want to set calendar reminders so you never miss a quarterly tax payment deadline.
Work with a Tax Professional
Freelancer income taxes can be challenging and confusing. If you’re overwhelmed and worried about making a mistake, it may be worth the money to hire an accountant or tax preparer.
Plus, the tax-filing fee may count as a deductible business expense for next year.
Understand Tax Refunds for Freelancers
Know that it is unlikely that you’ll get a tax refund as a freelancer. What often triggers a tax refund is that a full-time employee had too much money withheld for taxes from each paycheck and their overpayment comes back to them. (They can adjust their W-4 employee withholding tax form to avoid this situation in the future.)
But as a freelancer, it is unlikely you are overpaying your taxes, especially if you are tracking your income and paying the appropriate amount of quarterly taxes.
Recommended: Maximizing Your Time and Money
The Takeaway
Taxes can get more complicated if you’re a freelancer. You likely will pay more in taxes (thanks to the self-employment tax), and you’ll probably need to make quarterly estimated payments. It’s wise to regularly track and review your earnings and expenses so you can stay on top of how you are doing. For many freelancers, working with a tax professional is the best path forward.
Also worth noting: As a freelancer, you need several tools to stay organized and run your business, including a bank account.
Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with direct deposit, you’ll get a competitive annual percentage yield (APY), pay zero account fees, and enjoy an array of rewards, such as access to the Allpoint Network of 55,000+ fee-free ATMs globally. Qualifying accounts can even access their paycheck up to two days early.
Better banking is here with up to 4.60% APY on SoFi Checking and Savings.
FAQ
Why is freelance tax so high?
Freelance taxes are higher because they include self-employment tax. This additional 15.3% is what employers traditionally pay on behalf of their employees. In the case of freelancers, they’re both the employer and the employee so they have to cover that amount.
Do I need to declare freelance income?
Yes, you must declare all freelance income. Even if you didn’t make enough to trigger a 1099 from a client — or that client forgot to send you a 1099 — you must report any and all income to the IRS.
What happens if you don’t file freelance taxes?
If you don’t make quarterly tax payments as a freelancer, you could be subject to underpayment penalties when you go to file. If you don’t pay at all, you’ll be subject to Failure to File and Failure to Pay penalties. You’ll owe interest on top of the fines — and eventually could face jail time if you don’t pay.
Can freelancers pay taxes annually?
While freelancers must file taxes annually like everybody else, they are usually required to make quarterly estimated taxes since no taxes are being withheld from their payments throughout the year.
The SoFi Bank Debit Mastercard® is issued by SoFi Bank, N.A., pursuant to license by Mastercard International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.
SoFi members with direct deposit activity can earn 4.60% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. Direct Deposit means a deposit to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Direct Deposit”) via the Automated Clearing House (“ACH”) Network during a 30-day Evaluation Period (as defined below). Deposits that are not from an employer or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, do not constitute Direct Deposit activity. There is no minimum Direct Deposit amount required to qualify for the stated interest rate.
SoFi members with Qualifying Deposits can earn 4.60% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Qualifying Deposits means one or more deposits that, in the aggregate, are equal to or greater than $5,000 to an account holder’s SoFi Checking and Savings account (“Qualifying Deposits”) during a 30-day Evaluation Period (as defined below). Qualifying Deposits only include those deposits from the following eligible sources: (i) ACH transfers, (ii) inbound wire transfers, (iii) peer-to-peer transfers (i.e., external transfers from PayPal, Venmo, etc. and internal peer-to-peer transfers from a SoFi account belonging to another account holder), (iv) check deposits, (v) instant funding to your SoFi Bank Debit Card, (vi) push payments to your SoFi Bank Debit Card, and (vii) cash deposits. Qualifying Deposits do not include: (i) transfers between an account holder’s Checking account, Savings account, and/or Vaults; (ii) interest payments; (iii) bonuses issued by SoFi Bank or its affiliates; or (iv) credits, reversals, and refunds from SoFi Bank, N.A. (“SoFi Bank”) or from a merchant.
SoFi Bank shall, in its sole discretion, assess each account holder’s Direct Deposit activity and Qualifying Deposits throughout each 30-Day Evaluation Period to determine the applicability of rates and may request additional documentation for verification of eligibility. The 30-Day Evaluation Period refers to the “Start Date” and “End Date” set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the “30-Day Evaluation Period”). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. Upon receiving a Direct Deposit or $5,000 in Qualifying Deposits to your account, you will begin earning 4.60% APY on savings balances (including Vaults) and 0.50% on checking balances on or before the following calendar day. You will continue to earn these APYs for (i) the remainder of the current 30-Day Evaluation Period and through the end of the subsequent 30-Day Evaluation Period and (ii) any following 30-day Evaluation Periods during which SoFi Bank determines you to have Direct Deposit activity or $5,000 in Qualifying Deposits without interruption.
SoFi Bank reserves the right to grant a grace period to account holders following a change in Direct Deposit activity or Qualifying Deposits activity before adjusting rates. If SoFi Bank grants you a grace period, the dates for such grace period will be reflected on the APY Details page of your account. If SoFi Bank determines that you did not have Direct Deposit activity or $5,000 in Qualifying Deposits during the current 30-day Evaluation Period and, if applicable, the grace period, then you will begin earning the rates earned by account holders without either Direct Deposit or Qualifying Deposits until you have Direct Deposit activity or $5,000 in Qualifying Deposits in a subsequent 30-Day Evaluation Period. For the avoidance of doubt, an account holder with both Direct Deposit activity and Qualifying Deposits will earn the rates earned by account holders with Direct Deposit.
Members without either Direct Deposit activity or Qualifying Deposits, as determined by SoFi Bank, during a 30-Day Evaluation Period and, if applicable, the grace period, will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances.
Interest rates are variable and subject to change at any time. These rates are current as of 10/24/2023. There is no minimum balance requirement. Additional information can be found at https://www.sofi.com/legal/banking-rate-sheet.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.
Tax Information: This article provides general background information only and is not intended to serve as legal or tax advice or as a substitute for legal counsel. You should consult your own attorney and/or tax advisor if you have a question requiring legal or tax advice.
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.
As we navigate the spaces we call home, there’s an inherent desire to create a living space that feels warm, comfortable, and connected. In this Redfin article, we will look into 16 creative and meaningful ways to bring love into your home. From thoughtfully chosen decor and aromatic additions to personal touches that resonate with cherished memories, these suggestions aim to transform your living space into a haven of love. So whether you’re looking to bring love into your home in Medford, MA, or apartment in Portland, ME, embark on this journey to discover how simple, intentional choices can significantly enhance the love-filled ambiance within the walls of your home.
1. Display large artwork
Incorporating large artwork into your home serves as a great way to bring love into your living space, as it adds visual appeal and reflects personal taste and emotions.
“Any large artwork that depicts love or people working together in harmony is a great way to bring love into your home. Be sure to position it in your hall so it is the first thing you see or in your living room,” notes consultant Feng Shui West Country.
2. Decorate with a custom area rug
Bringing a custom area rug into your home offers functional and stylish benefits.
“It helps define and delineate different living spaces within an open floor plan, creating a sense of organization and intimacy. A custom rug allows you to express your unique taste and tie together various design elements, adding warmth, texture, and personality to your living space,” states family business The Carpet Workroom.
3. Clean with your loved ones
One of the keys to bringing love into a home is to approach house cleaning with a positive mindset and a focus on creating a loving and harmonious environment.
“Involve your loved ones in the cleaning process to promote teamwork and togetherness,” shares Le Vvintre Living Luxury Cleaning Services. “Assign appropriate tasks to each person and work together to clean and organize the home. This not only lightens the workload but also strengthens bonds and fosters a sense of unity.”
“Nothing says you care like a home that’s not only clean but also radiates a welcoming scent that hugs you the moment you walk through the door. Imagine the gentle fragrance filling your home, creating an atmosphere where love thrives in every corner,” adds Affordable Cleaning Today.
4. Hand-select consignment home decor
Hand-selecting consignment home decor infuses each piece in your home with unique character and history, creating a personalized and curated living space that reflects your individual style.
Lori Schroeder of Consign Couture remarks, “Transform your living space into a haven of love by carefully hand-selecting consignment home décor that resonates with your style. Explore local consignment shops or online platforms to discover unique pieces that evoke positive emotions, memories, and love.”
5. Bring in candles
Introducing scented candles into your home is a delightful way to bring love into your space, as the soft, warm glow creates an intimate and cozy ambiance.
“Nothing whispers ‘I love you’ quite like the soft flicker and warm scent of a beautifully crafted candle,” says luxury candle company melt. “Imagine a candle that blends the sultry notes of rose with the exotic whispers of orchid, setting the stage for those oh-so-precious moments of connection. It’s like a love letter but in fragrance form.”
6. Think in pairs of two
Reiko Gomez of Reiko Home recommends, “In the bedroom, create balance and harmony in by having two bedside tables and two table lamps that are relatively equal in size and style. Think of ways to make your bedroom feel like a cozy cocoon of rest. For example, adding a plush rug, pretty bedding and thick curtains, of fresh cut flowers. A space that feels serene, soft, and inviting attracts good experiences into your life.”
Rose quartz crystals are believed to emanate a gentle and compassionate energy.
“In Feng Shui, love is associated with the element of earth, shares transformation expert LMG Creative. “Bring loving earth energy into your home with two rose quartz crystals. Ensure the pair is balanced in size to symbolize an equal partnership.”
7. Bring in love through floral designs
Incorporating floral design adds a touch of nature’s beauty, infusing the space with freshness and positivity.
Designer Avalana Simpson from Avalana Design comments, “Romantic florals in interior design will always stand the test of time. There’s something about hand-painted cascading flowers in full bloom, which brings a level of warmth, love, and contentment to a space. Often, flower power is overlooked for bedrooms, but intricate oversized blooms are perfect for adding a little love.”
8. Decorate with flowers
Flowers’ vibrant colors and natural fragrances create a visually appealing and emotionally uplifting atmosphere, thus bringing love into your home.
“Flowers are consistently a quintessential way to bring feelings of love into your home. From the sweet fragrance to the eye-catching color palette of a spring bouquet, bright blossoms emit an aesthetic that elevates your mood,” says flower company Fleurish Floral Studio.
“Try introducing fresh-cut flowers for a touch of natural beauty and freshness in your home while creating a warm and inviting atmosphere with soft lighting to enhance feelings of comfort and connection,” adds cleaning service Elite Maids RVA.
Photo courtesy of Fleurish Floral Studio
9. Hang photos of loved ones
Hanging photos of loved ones is a heartfelt way to bring love into your home, as the visual reminders of cherished moments and relationships.
“Hanging a framed photo of loved ones or special moments in your life can create a positive and nostalgic atmosphere in your living space. They also serve as great conversation starters as guests will inquire about the story behind the photos,” shares Kyle Cong Photography.
Brindy Ruby Photography says, “One of my favorite ways to bring love into my home is through photographs. The best photos to hang up are the ones where there is a true connection between loved ones. This could look like giggles while running through a field or snuggles on the couch.”
“Photos are a great way to bring love into your home. Display some in photo frames on shelves or cluster them together on a living room wall. A scrapbook or photo album can hold more loving memories. If you prefer digital, there are several digital photo frames that keep a slideshow of all of your favorite photos and can be updated at any time,” adds Leslie and Carlos of Absolute Luxury LLC.
10. Bring in plants
Taking care of plants fosters a sense of responsibility and connection with nature, contributing to a home environment that radiates love, care, and a touch of the outdoors.
“To bring more love into your home, fill it with things you love,” recommends watercolor painter My Giant Strawberry. “I’m an artist and a gardener so I always need to be surrounded by plants and art. Think about what brings you the most joy, whether it’s a reminder of those you love, mementos from special trips, or even just your favorite colors.”
“The bathroom rarely receives the kind of interior design attention our living rooms or bedrooms enjoy. Still, these smaller, occasionally steamy spaces are the perfect environment for all sorts of potted pals. Spider plants thrive in bathrooms due to their ability to tolerate low light and high humidity levels, for example, and it’s a similar story to the ever-in-vogue Monstera. Don’t be worried about accidentally killing them, either. Both of these specimens are extra hardy and require very little care,” adds Plant Studio.
11. Create a cozy corner
“We love the ‘cozy corner’ trend,” states luxury gift company MyCOCCO. “It’s all about carving out a little nook of comfort and tranquility in your home. Drawing inspiration from the Danish hygge concept, which is all about coziness and finding joy in the simple things.”
Add a snug armchair with a fluffy blanket thrown over it, a small shelf within arm’s reach stocked with beloved books, and a soft lamp casting a warm glow. This spot can become a private retreat for enjoying those quiet moments of reflection or losing oneself in a good read, creating the perfect backdrop for love to bloom in the simplest of activities.
12. Scent up your space
The subtle aroma of scents like vanilla, lavender, or citrus can foster a loving and cozy atmosphere.
“One of the ways to bring love into your home is through fragrance. This could be in the form of candles, diffusers, and room sprays. Pick up a candle or reed diffuser on your next grocery shopping trip and bring love into your home,” recommends candle business Nneka’s Candle Blog.
“If you’re looking for a fragrant welcome to your home, why not try a reed diffuser in your hallway or porch? There are many refreshing scents like Rhubarb & Ginger Gin with a touch of lime. Bring some love back into your bathroom with a eucalyptus and peppermint room spray with a built-in odor eliminator, making it the perfect choice to freshen any room,” shares scent company Lumiescents.
13. Paint the walls in a different color
Selecting warm and soothing tones can also create a loving environment.
Brilho Cleaning Services says, “Consider using warm and inviting colors like soft shades of red or muted tones of pink to create a cozy atmosphere in your home. Opt for colors that resonate with positive emotions, bringing a sense of warmth and connection. Balance vibrant hues with neutral tones for a harmonious and comforting environment.”
14. Hang plates on your walls
Hanging plates is a charming way to bring love into your home, as the carefully arranged display not only adds a touch of personal style but also reflects a sense of cherished memories.
“One way I bring love into our home is to decorate with plates we find at stores,” notes photographer Jeanna Hayes. “Sometimes, they have special meaning to us, and other times, we just like the pattern and buy it while we are together at the store. We are always on the hunt for our plate wall.”
Photo courtesy of Jeanna Hayes
15. Adding cool furniture pieces
Adding carefully chosen furniture pieces to your home is a thoughtful way to bring love, as each item can contribute to making the space feel like your own.
“Enhance the love in your home by incorporating comfortable and inviting furniture, creating spaces that encourage togetherness and relaxation,” shares mindfulness expert Still Jacey. “Select pieces with sentimental value or unique designs that resonate with your personal style, infusing warmth and personality into your living spaces.”
“My Uncle John would probably roll over in his grave to see his favorite chair covered in pale coral and pink. But I loved my Uncle and the memory of him sitting in his cozy, comfy chair with brown upholstery,” remarks florist Camrose Hill. “Instead of getting rid of the chair, I transformed it by upholstering it into something that fits my space and that I love.”
16. Host dinner parties
Hosting dinner parties and wine nights is a delightful way to bring love into your home, fostering a sense of connection and warmth through shared meals and good conversation.
“I love hosting dinner parties and wine nights for friends and family, which has resulted in the most beautiful memories in this space. I believe that the best parts of a home aren’t the physical items you have in it, but the people who are there to share moments with you,” shares photographer Taylor Rossi.
This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.
There are many ways to manage your money, but there is always one key piece that you need no matter how much or little you earn. The best way to get ahead in life and work when it comes down to personal finances:
Planning.
Yes, a little bit of planning will make sure your bills are paid.
If you are looking to save money and make more, then this article is for you.
We have broken down five effective bill calendar strategies that can help boost your finances. With each strategy comes an eye-opening fact about how to make paying bills easier.
Use these tactics in order to get ahead of the game and be one step closer to financial freedom.x
The term “bill calendar” may seem like a jargon-y thing stuck in the past, but it’s actually an effective way to keep track of your finances and budget.
That being said, not all bill calendars are created equal. Make sure you choose one that meets your needs or is most suitable for what you’re looking for so you can get the maximum benefit from this tool!
What is a Bill Pay Calendar?
A bill pay calendar is a financial tool that enables an individual to manage, track, and forecast bills.
It is useful for those who have multiple bills each month or need to plan ahead for upcoming expenses.
This is one of the files you can find in our budget binder.
A bill pay calendar is typically used in conjunction with a budget planner to help manage financial goals and stay on track towards financial success.
This simple tool helps you manage your finances better. The useful trick is to see where all of our bills fall in relation to when we make money, so it’s easy enough for us to plan out what we need and don’t need.
The strategies are effective because they allow you a visual way to see your bills and expenses. Thus, making bill-paying much easier than ever before.
Why a Monthly Bill Calendar Works
A monthly bill calendar is a great way to keep track of upcoming bills and make sure you’re not missing any.
Also, it is helpful if you want to plan ahead for certain events like birthdays, holidays, or special occasions. Just to make sure you set aside enough money.
If you’re struggling to keep up with your bills, a monthly bill calendar can help.
It will remind you when it’s time to pay them and give you the proper schedule for future payments so that they don’t get delayed.
A monthly bill calendar is an effective way of organizing finances because it provides reminders about what needs to be paid on which day. This helps to ensure debts do not accumulate over time without being noticed until they become unmanageable.
Other benefits of a bill paying calendar:
Keeps you focused.
Motivation to improve your finances.
Visually track your progress.
Simple Bill Calendar Strategies
The financial benefits of a proper bill calendar include increased productivity, improved cash flow management, and long-term savings opportunities all brought about by thoughtful organization with an emphasis on efficiency in priority setting.
Just like with any time management idea, you must actually implement the system for it to work.
All of these strategies will give you a chance to get on top of your finances and start working towards getting out from under that large, unmanageable debt.
Five effective bill calendar strategies that will boost your finances include:
1. Use Budget Binder
Personally, I have found that those who have a printable budget binder stick to their budgets long term vs those who try to manage their finances digitally. That doesn’t mean you can use your favorite budgeting app (I love Quicken). It just means you are writing out key financial information for your reference or if someone needs to pay your bills.
If you’re looking for a way to organize your bills and keep track of when they are due, the bill calendar is an effective tool. By putting all of your bills on one page, it makes it easier to coordinate payments with your employer or other creditors.
The template allows you to add in expected paydays so that you can easily plan ahead.
2. Plan Reoccuring Time to Review
Not many people jump at the excitement of paying bills. Normally, it is a task that we put off until we just cannot wait any longer.
For me, I review our bills every two weeks. That is what I have found to work best for us.
To make the time more plausible, many couples will celebrate bill paying with a special treat or date night.
Do what you need to do.
Just make sure you review your bill payment calendar on a regular basis.
3. Avoid Paying Bills Late
Paying your bills late will incur additional fees; those penalities in extra fees and interest are just not worth it. In addition, your credit score will take a hit with each late payment.
By consistently paying your bills late, you will have access to less cash. On the flip side, you could be saving money by paying your bills on time.
To avoid paying bills late, many people have set up automatic payments. This can be done by setting up a direct debit or Automatic Clearing House (ACH) payment.
When looking at your bill payments calendar, decide what bills are going to be paid by what paycheck. Make a plan for your money.
That will help you avoid paying bills late.
4. Keep Track of Bill Due Dates
One of the most important tasks that households have is paying their bills on time. However, it can be difficult for those without a lot of organizational skills to keep track of bill due dates and upcoming bills.
One way to keep track of bill due dates is by using a calendar that has notes on each day, as well as other information such as what’s coming up in the near future.
You may want to color-code your bills by paycheck. Another option is to track your payments with colors, such as red for debt, green for paydays, etc.
Either way, you want to notate when you paid a bill and the manner you paid it.
5. Digital or Paper
Now, for the endless debate… do you use a digital or paper system? Or do you need to use both for double reminders?
Regardless of what you decide, you should use a monthly calendar printable template to track what needs to be done.
Here are some options on how to organize your bill calendar.
Keep your monthly bill calendar in your budget binder.
Print out the month’s schedule and hang it up on your refrigerator or wall for easy reference. This is an important habit because you’ll never miss due dates if you don’t have to worry about finding paper calendars or trying to remember which bills are due when.
Create a post-it note with the day’s due date on it and stick it to your monitor so you don’t forget.
Use Google Calendar or iCalendar, which are both free online calendars that can be accessed from any computer or mobile device. This allows you easy access when away from home but still keeps things relatively simple as well since these options only.
Many budget apps have cost-effective solutions with tons of cool features and helpful tools that will make your life easier.
The end goal is to keep things simple, allowing you more time for other tasks.
Bill Calendar Sample
Here is a bill calendar example.
You would personalize this for your needs and your expenses.
Remember, many times it is helpful for people to visualize how bills will be paid and when.
This helps with cash flow planning.
Bill Calendar Template
It is important to keep track of your bills and how much you have to pay each month. The best way to do this is with a bill calendar template that has columns for your monthly expenses, which include rent, utilities, phone service, groceries, etc.
Some effective strategies for keeping tabs on what’s due when are:
– Create a list of all the upcoming payments in order from high priority (such as a mortgage) to low priority (such as grocery store), and then put them in your calendar as they come due.
– Create a list of all the upcoming bills, rent from highest to lowest priority, and then put them in your calendar as they come due.
To make the most of your budget, you need to know where every dollar is going.
A bill calendar template will help you plan and prioritize which bills are due when so that money can be properly allocated for important expenses without letting any slip through the cracks or being overspent on things like entertainment.
FREE Printable Bill Calendar
A bill calendar is a type of monthly planner used to keep track of bills that are due. This free bill calendar printable can be downloaded and used personally.
Having a visual reminder of what’s coming up helps me stay focused and watch my spending because it gives me an idea at a glance of how much money comes out each month.
It also helps remind me when certain events occur such as income tax or mortgage payments.
Download your printable monthly bill calendar.(This is a perk for our readers who subscribe to our email list.)
A bill payment calendar is a helpful tool for keeping track of when your bills are due.
Bill Calendar App
A bill payment app is a form of software that helps people pay their bills online. It offers a way to manage the process and avoid any potential late fees.
Bill payment apps are useful for many individuals.
They can help you keep track of your monthly bills without having to use a paper calendar, which is typically cluttered with social events and day-to-day tasks.
Furthermore, bill month calendars organize recurring payments that occur on the same date each month so that they don’t get charged twice or renew prematurely before you know it!
Here are some great options:
How Will a Bill Paying Calendar Help You?
All in all, a bill calendar is another tool in the personal finance toolkit.
This bill organizer calendar is an important part of your managing money.
You can choose a checklist style or a monthly layout.
Bill calendars are a simple and effective way to keep track of your bills and expenses.
They can help you save money and come up with strategies to boost your finances. They come in many different types and are often used for budgeting purposes.
Many people use a bill calendar in conjunction with a budget binder with envelopes as well.
How do you see a bill calendar improving your finances?
From all of the free and paid budgeting apps, here are our top budgeting apps to check out!
This section may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. Please read the full disclosure below.
Empower Personal Wealth, LLC (“EPW”) compensates Money Bliss for new leads. Money Bliss is not an investment client of Personal Capital Advisors Corporation or Empower Advisory Group, LLC.
Personal finance and money management software allows you to manage spending, create monthly budgets, track investments, retirement and more.
Save 40% off on new memberships.
Enjoy guilt-free spending and effortless saving with a friendly, flexible method for managing your finances.
Change your relationship with money!
Personal Capital is wealth management for the Internet Age. The online platform combines digital technology with highly personalized service to provide a holistic view of a unique financial picture (AKA your net worth).
Make sure to connect all of your accounts within 7 days to set up your Personal Financial dashboard.
Tiller is the only tool that automatically updates Google Sheets and Microsoft Excel with your spending, transactions, and balances each day.
Start your free trial.
Automate your financial plan with set-and-forget money tools that fit right into your daily life.
That’s why Qapital puts your goals front and center, then helps you plan your spending, saving, and investing around them.
Manage your money less in 5 minutes each week. Reach your money goals with confidence! The personal finance app gives you something to look forward to.
“The easiest, most comprehensive way to both see where your money is going and plan for future expenses.”
Your automated financial assistant and budget tracker are designed to put you back in control of your money.
Stay on top of your spending, easily track bills, cancel unwanted subscriptions, and find ways to improve!
Photo Credit:
moneybliss.org
HoneyMoney increases your awareness about your money habits. Being fully aware of your money naturally changes how you spend it.
Great way to use cash flow budgeting. Plus uses “envelopes” to budget.
Start your free trial.
Moneyspire is user-friendly personal finance and small business accounting software that brings your entire finances together in one place.
Have total control over your financial life in one click.
Know someone else that needs this, too? Then, please share!!
Did the post resonate with you?
More importantly, did I answer the questions you have about this topic? Let me know in the comments if I can help in some other way!
Your comments are not just welcomed; they’re an integral part of our community. Let’s continue the conversation and explore how these ideas align with your journey towards Money Bliss.
A bill introduced in the New Jersey Senate would require face-to-face counseling for the state’s reverse mortgage transactions and would void any loans executed without proof of such counseling having taken place. The bill is currently awaiting deliberation in the state Senate’s commerce committee.
The bill, S2520, would also offer a seven-day right of rescission on any reverse mortgage transaction, allowing a borrower to cancel the loan within that window without a penalty.
Bill proposal, lawmaker concerns
The current version of the bill was introduced earlier this month by state Sen. Shirley Turner (D), who represents New Jersey’s 15th district encompassing Hunterdon and Mercer counties. Turner originally introduced a similar bill in 2016, she told RMD in an interview.
Turner explained that her primary concern when initially introducing the bill came from a distressed constituent whose elderly mother lost her home after taking out a reverse mortgage without fully understanding the requirements of the loan, the senator said.
“His mother had taken out a reverse mortgage unbeknownst to him and he was very distraught because he didn’t learn of the reverse mortgage until it was too late for him to intervene,” Sen. Turner explained to RMD. “That was when he contacted me and he also contacted the state attorney general. We both investigated and found out that there was nothing that we could do because it was too late in the process.”
The constituent had hired his own lawyer, but his mother ended up having to leave the home after falling behind on associated taxes.
“She just fell further and further behind, and did not tell [her son] until it was too late, when she was getting the notices threatening to evict her from the house,” Turner said. “And she was then, of course, extremely upset because that was the house that she had lived in — and thought she would die in — because she had lived there for 60 years.”
The home, Turner added, had been built by the woman’s late husband in the mid-1950s. That made the senator concerned about the reverse mortgage industry’s marketing activities to borrowers, particularly those who might be dealing with the recent loss of a spouse.
Industry response
Turner’s bill would have a “chilling” effect on reverse mortgage business in the state of New Jersey, according to a letter submitted to the lawmaker’s office on Feb. 13 by the National Reverse Mortgage Lenders Association (NRMLA).
When asked if she had seen the letter, Turner said it had not yet arrived at her office as Friday.
NRMLA contends that the in-person requirement would dampen reverse mortgage availability in the state, primarily since most reverse mortgages originated in New Jersey are Federal Housing Administration (FHA)-sponsored Home Equity Conversion Mortgages (HECMs).
FHA’s HECM program already requires counseling prior to the closing of a reverse mortgage from agencies approved by the U.S. Department of Housing and Urban Development (HUD), and HUD requirements dictate that “clients may receive telephone counseling unless such counseling is prohibited in their state.”
“[W]e further note that, as of today, it appears that only […] six counseling agencies in New Jersey are approved by HUD to provide reverse mortgage counseling,” NRMLA wrote.
NRMLA also points out that an in-person counseling requirement is not imposed by FHA or HUD for HECM loans, and that such a requirement in New Jersey would “have the unintended consequence of decreasing the availability of reverse mortgage counseling while simultaneously imposing unnecessary hardships on New Jersey seniors seeking a reverse mortgage loan,” the letter stated.
Turner explained that she would be happy to meet with NRMLA or any other organization that either supports or opposes any legislation she introduces.
“I always meet with everybody,” she said. “Not just those who support my bill but also those that oppose it. And hopefully, we can find common ground and everybody wins.”
In-person hurdles
An in-person counseling requirement remains law in Massachusetts, which contributed to the halting of reverse mortgage business throughout the state at the onset of the COVID-19 pandemic due to stay-at-home orders handed down by then-Gov. Charlie Baker (R) in an effort to arrest the spread of the virus.
Soon afterward, an emergency bill passed by the Massachusetts Legislature relaxed the in-person counseling requirement, particularly due to the susceptibility of older people to the effects of illness caused by COVID-19. Since that point, the legislature has considered permanently rescinding the in-person counseling requirement, citing post-pandemic challenges and a limited supply of HUD-approved counselors who serve the full state.
A permanent solution has not yet materialized, however, with the legislature instead opting for temporary extensions of the relaxed rule. The current extension is scheduled to expire at the end of March 2024.
Comparisons to Massachusetts
Reverse mortgage industry veteran George Downey of The Federal Savings Bank in Braintree, Massachusetts, has been a key figure in the industry’s efforts to change the law within that state. He offered his personal opinion on the New Jersey matter.
“Clearly, this is another well-intended but misguided initiative,” Downey said an interview, comparing the proposed New Jersey bill to the in-person provision in his state. “But in addition to the logistical reasons, attorneys I’ve spoken with agree with my opinion that the issue of disparate impact under the American Disabilities Act and Fair Credit Reporting Act (FCRA) could be a consideration.”
Disparate impact provisions in U.S. law refer to practices that may adversely affect one group of people within a protected class more than another, even though rules applied are ostensibly or formally neutral.
“As you bear down on this in-person counseling issue, it puts a protected class at a distinct disadvantage by requiring them to assume additional cost,” Downey said, primarily referring to transportation. Downey has had personal experience with disabled clients who had to shoulder high costs to reach an in-person counseling appointment.
“Just as easily, the counseling could have been accomplished with a phone call,” he said.
MISMO, the real estate finance industry’s standards organization, is calling for industry professionals to join a new development work group aimed at creating a servicing data standard for Federal Housing Agency (FHA) loans. The initiative, named the Federal Housing Agency Servicing Dataset workgroup, is powered by Sagent. According to a Press release, a coalition comprising … [Read more…]
Looking for the best summer jobs for teachers? Teachers, just like students, really enjoy the summer break. It’s a great time for them to relax and feel refreshed. But, this break can also be a chance for teachers to make extra money and even start a new business. I know many, many teachers who have…
Looking for the best summer jobs for teachers?
Teachers, just like students, really enjoy the summer break. It’s a great time for them to relax and feel refreshed. But, this break can also be a chance for teachers to make extra money and even start a new business.
I know many, many teachers who have side hustles in the summer. From part-time gigs to full-time summer businesses, there are many side jobs for teachers that you may want to try out.
Best Summer Jobs for Teachers
There are many summer jobs for teachers listed below. If you want to skip the list, here are some jobs that you may want to start learning more about first:
Flexible way to freelance – Proofreading
Side job for teachers from home – Blogging
How to make passive income as a teacher – Sell printables
Work as much or as little as you want – Flea market flipping
Creative job idea – Dog treat baker
Side job for teachers in summer – Grocery shopper
Camp counselor – If you love the outdoors, being a camp educator can be both rewarding and enjoyable, combining teaching with adventure activities.
Summer school teacher – Many schools have summer classes where you can continue teaching.
1. Teach summer school
One clear way for teachers to earn extra money in the summer is by teaching summer school.
It’s a good way to use your teaching abilities and make some additional income. The best part is that summer school happens during your summer break (big surprise, right?!), so it fits well with your schedule when you’re already off from regular school.
To start, check with your local school districts. A lot of them have summer school programs, and they usually share job opportunities on their websites or local education job boards.
2. Sell educational printables
Selling educational printables is a way for teachers to earn extra money. It’s especially good for those who want to make passive income as a teacher.
Your materials, like worksheets, lesson plans, and activities, are helpful to other teachers and parents looking for high-quality educational content.
Some places to sell your educational printables include:
Teachers Pay Teachers(TPT) – This is a popular site where millions of teachers buy and sell original educational resources.
Etsy – This site is known for handmade items, but also is a great place for selling educational materials and printables.
Educational printables include things like math problems, vocabulary cards, and science experiments. They’re useful for different grades, age groups, and learning goals, making it simple to improve regular teaching or homeschooling. You can share these resources online or print them for in-person classes too.
Recommended reading: How I Make $400,000 Per Year Selling Educational Printables.
Do you want to make money selling printables online? This free training will give you great ideas on what you can sell, how to get started, the costs, and how to make sales.
3. Flip used items for resale
Trying your hand at flipping items from flea markets and thrift shops can be a fun and money-making summer job for you as a teacher.
Flippers are people who find items at flea markets, yard sales, and thrift stores that are priced lower than their actual value. They then sell these items for a profit.
The summer is a great time to do this because there are typically a lot of yard sales, flea markets, and people just in general decluttering more (so you may find more things that people are giving away), where you can find items to resell.
Some items that you can buy and resell include clothing, antique furniture, collectible toys, sports equipment, electronics, rare books, jewelry, and more.
10
This free workshop will teach you how to get into the flipping business. It will teach you how to resell furniture, electronics, appliances, and anything else you can find.
4. Tutor
During the summer, your teaching skills are still needed. Tutoring can be a flexible and fulfilling summer job that lets you work with students one-on-one either online or in person.
You may be able to tutor on subjects like math, foreign language, science, and more. You also may be tutoring kids, teenagers, or even adults.
To begin, you can look for tutoring jobs on online tutoring sites like Tutor.com. You can also sell in-person local tutoring sessions by reaching out to tutoring companies nearby or advertising your services on social media or in local Facebook parent groups for your area.
5. Camp counselor
Becoming a camp counselor could be a rewarding experience for you in the summer. In this job, you’d guide groups of children through indoor and outdoor activities, as well as educational programs at summer camps.
Your daily tasks would include keeping campers safe, organizing games, and giving both educational and emotional support.
Summer camps come in different types, ranging from general adventure camps to specialized ones focusing on sports, arts, or science.
6. Freelance bookkeeping gigs
If you like numbers and you’re a teacher, online bookkeeping can be a way to spend your summer.
A bookkeeper is someone who assists in managing and tracking the financial aspects of a business. They usually keep records of sales, track expenses, and generate financial reports.
People with virtual bookkeeping jobs work from home, handling their responsibilities remotely. Virtual bookkeeping is a great choice for remote work as all tasks can be completed online or with computer software, eliminating the need to go into an office physically.
Recommended reading: How To Find Online Bookkeeping Jobs
10
This free training will teach you what you need to know to become a virtual bookkeeper and make money from home.
7. Swim instructor
If you’re a teacher who loves the water, becoming a swim instructor for the summer could be the perfect seasonal job for you. Your educational background gives you the ability to communicate and manage classes, which are important skills for teaching swimming.
To find swim instructor jobs:
Look on websites like Craigslist or Facebook for listings, including summer-specific roles.
Check out local community centers, pools, and summer camps.
Networking can help, so let friends and professional contacts know you’re looking.
Another job similar to this would be to become a lifeguard at a local pool.
8. Tour guide for local attractions
As a teacher, your ability to tell stories and lead can be very useful for a summer job as a tour guide. Your skill in explaining things well makes you a great choice to share history and local stories with visitors.
Check out jobs at museums, historical places, or become an ambassador for your city by guiding people to discover hidden treasures.
9. Pet care jobs
If you’re a teacher who loves animals, you may want to look into summer jobs in pet care, like being a dog walker or pet sitter. Your caring skills can easily transition to taking good care of furry friends while students are on break.
Rover is a website that connects pet owners with pet sitters and dog walkers. You can choose to do this job on weekends throughout the year or only open your schedule during the summer months – it’s your choice.
Starting on Rover is simple – you create a profile sharing your experience with pets and the services you can offer, such as dog walking, pet sitting, and house sitting.
After that, customers will send you requests, and you can discuss pricing. Rover handles the payment process, and you’ll get paid directly into your account.
Recommended reading: 7 Best Dog Walking Apps To Make Extra Money
10. Test prep instructor
As a teacher, your knowledge of academic subjects is very helpful, especially in the summer. Becoming a test prep instructor can be a great chance to help students in getting ready for their exams and earn extra money.
Test prep instructor jobs include subjects like math and English, and they cater to different education levels, from elementary school to college.
11. Sell your lesson plans
Teachers Pay Teachers (TPT) is a website made just for educators to buy and sell educational items, and it’s a well-liked side hustle for teachers. If you’ve created lesson plans, worksheets, or other teaching tools for your class, you can share them on TPT and make some extra income.
The school year may be over for you, but that doesn’t mean that you can’t create and sell lesson plans – these are bought year-round!
You can sell:
Lesson plans and unit studies
Worksheets and printable activities
PowerPoint presentations and interactive notebooks
Posters, charts, and visual aids
On Teachers Pay Teachers, the typical teacher can earn around an extra $300 to $500. However, some teachers make hundreds of thousands of dollars extra each year.
12. Coach a school sport
If you love sports and you’re a teacher, coaching a school sport during the summer might be a great match for your skills and interests.
Coaching a school sport is a great option within your own school district, as many schools need help with their sports teams. You can try coaching sports like soccer, basketball, volleyball, and track and field. Additionally, there are opportunities with after-school clubs such as yearbook, chess, choir, and more that can be a teacher’s side hustle.
13. Run a dog bakery
Beginning a dog bakery can be an enjoyable side job for teachers who adore both dogs and baking. By creating treats for dogs such as cupcakes, cookies, cakes, and more, you can earn an additional $500 to $1,000, or even more, each month.
Recommended reading: How I Make $4,000 Per Month Baking Dog Treats (With Zero Baking Experience!).
14. Sell handmade goods on Etsy
Etsy is a popular online marketplace that connects makers and shoppers looking for unique handmade goods. If you’re a teacher with a creative side, this could be a great site for you to showcase and sell your crafts during the summer months.
Some examples of what you can sell on Etsy that are related to school include:
Educational games and activities
Educational materials like lesson planners and printable worksheets
Handcrafted classroom decorations or educational games
Personalized items such as bookmarks, nameplates, or tote bags
But, you don’t have to only sell teaching-related items. You can sell many other things such as furniture, clothing, jewelry, soap, home decor, and more.
15. Work at a restaurant
Many teachers work part-time or full-time at a restaurant during the summer as servers, hosts, bartenders, and kitchen staff.
Working in restaurants can fit teachers well since they have flexible hours that can match your open summer schedule, and you can leave the job easily once school resumes in the fall.
I know many, many people who have done this, and I would say this is one of the top summer jobs for teachers.
16. Proofread
As a teacher, you likely excel at proofreading and can easily catch mistakes. Using these skills, proofreading can be a fantastic side job. By proofreading, you can help authors, website owners, students, and others in their writing while earning extra income.
Even the best writers can overlook errors in grammar, punctuation, and spelling. That’s why having a proofreader can be helpful for nearly everyone.
You can usually set your own hours, which is perfect for the irregular schedules you might have.
10
This free 76-minute workshop answers all of the most common questions about how to become a proofreader, and even talks about the 5 signs that proofreading could be a perfect fit for you.
17. House sit
House sitting is a good option for teachers looking to make extra income during the summer months because a lot of people take vacations in the summer. As a house sitter, you are typically responsible for maintaining someone’s home while they are away. This can include watering plants, collecting mail, and making sure the house remains secure.
People hire house sitters to make sure their homes aren’t left empty, as a visible presence can discourage potential thefts.
To begin house sitting, you can join house-sitting websites to find gigs in your area or ask for referrals from friends and family. Starting with people you know for house-sitting and then using their references can expand your job search.
18. Blog
Blogging can be an enjoyable way for you, as a teacher, to earn extra money from home. Many teachers run blogs, and it makes sense – you can blog when you have free time, without sticking to a strict schedule.
To start your blog, first, pick a topic you’re passionate about, maybe something related to your teaching field or a hobby you enjoy. There are plenty of different niche ideas such as personal finance, travel, food, home, pets, and so much more.
You can earn money as a blogger through ways like:
Affiliate marketing – Share links to products or services related to your blog topic and earn a commission for sales made through your referral links.
Advertising – Add display ads or sponsored posts on your blog.
Courses and ebooks – Create courses or ebooks in your expertise area and sell them through your blog.
Learn more at How To Start A Blog FREE Course.
10
Want to see how I built a $5,000,000 blog?
In this free course, I show you how to create a blog, from the technical side to earning your first income and attracting readers.
19. Freelance writing
If you’re looking for remote summer jobs for teachers, then becoming a freelance writer can be a great option.
Freelance writers create content for blogs, websites, magazines, newspapers, advertising companies, and more. You can find writing jobs on platforms like Upwork and Fiverr. Also, you can find clients independently by reaching out to websites you are interested in writing for.
I have been a freelance writer for years, and it all started as a side hustle. This is a great side hustle because you can choose to work as much or as little as you want, such as if you are only looking to do freelance writing in the summer months when you are not teaching at a school.
Recommended reading: 14 Places To Find Beginner Freelance Writing Jobs
20. Transcribe
An online transcriptionist’s role involves listening to video or audio files and typing out the content they hear. Various types of transcriptionists exist, including legal, general, and medical transcriptionists.
This job demands solid typing and listening skills, and the flexibility to work from home on your schedule. Transcriptionists typically earn an average of $15 to $30 per hour.
This is another great side hustle because you can choose to work as much or as little as you want, such as if you are only looking to make extra money during the summer months.
I recommend signing up for FREE Workshop: Is a Career in Transcription Right for You? You’ll learn how to get started as a transcriptionist, how you can find transcription work, and more.
Recommended reading: 18 Best Beginner Online Transcription Jobs To Make $2,000 Monthly
10
In this free training, you will learn what transcription is, why it’s a highly in-demand skill, who hires transcriptionists, how to become a transcriptionist, and more.
21. Rent out an unused room in your home
If you have a spare room in your house, you might want to try renting it out over the summer. Platforms such as Airbnb or Vrbo make it easy for you.
I have rented out rooms to others in the past, and it has been a great way to make extra money. If you live in a touristy area, this could even be a gig that you only do in the summers and earn enough to cover your bills or at least pay for some of them.
22. Rent your garage space
If you have available storage space like a garage, driveway, closet, basement, or attic, you might consider renting it out to make extra money. This can be a profitable side hustle without requiring much of your spare time.
Neighbor is a platform where you can list your extra space for rent and potentially earn up to $15,000 per year.
This is a gig that may take up more than just your summer because typically people may store their stuff more long-term. But, you may find some people who only need to store things a few months at a time or perhaps you can also try to turn this into a year-round side hustle.
Recommended reading: Neighbor Review: Make Money Renting Your Storage Space
10
You can use this website to list your unused space for rent and make up to $15,000 per year by doing so. With Neighbor, you can rent out your garage, driveway, basement, parking lot, shed, warehouse, carport, attic, street parking, or even a closet.
23. Teach English as a second language
If you’re a teacher looking for a seasonal opportunity, teaching English as a second language (ESL) during the summer can be a rewarding experience.
Many institutions are looking to hire for ESL teaching jobs, ranging from local schools to international language camps and online platforms. Here’s how you can get started and what you might expect:
Typically, ESL teachers need a bachelor’s degree and a teaching credential like TEFL (teaching English as a foreign language) certification. Some positions abroad might have additional requirements.
24. Answer online surveys
If you’re looking for a flexible way to earn extra cash during the summer, answering online surveys could be a great fit. Companies are always in search of genuine feedback to improve their products or services, and your opinions are valuable.
Now, this won’t be a full-time job, but you share your thoughts and can make extra money or free gift cards on your own schedule.
The survey companies I recommend are:
Swagbucks
User Interviews – These are the highest paying surveys with the average being around $60 for an hour of your time.
Branded Surveys
American Consumer Opinion
Pinecone Research
PrizeRebel
InboxDollars
Recommended reading: 18 Best Paid Survey Sites To Make $100+ Per Month
10
User Interviews pays very well for market research studies and these are some of the highest paying online surveys, with each paying $50 to $100 or more. The average pays over $60.
25. Mystery shop
Companies hire mystery shoppers to gain insights into their customers’ experiences. They seek genuine opinions on products, feedback on customer treatment, evaluations of phone call interactions, and more. Mystery shoppers play a key role in providing valuable feedback to companies.
This is a great summer side hustle for teachers because you can simply pick up mystery shopping jobs when you need them. So, it’s completely okay and normal to only accept jobs during the summer.
Here’s what mystery shoppers do:
Visit businesses anonymously.
Complete specific tasks, such as purchasing a product or asking questions.
Record your observations.
Provide a detailed report on your experience.
I have done many secret shopping jobs over the years, and I often got mystery shops that provided me with $100 to cover a free dinner.
Recommended reading: How To Become A Mystery Shopper
26. Find gigs on Craigslist
Craigslist can be a goldmine for finding great summer jobs for teachers. It’s a site where individuals and businesses post quick jobs to make extra money.
You can find these gigs by going to the Craigslist website for your city or area. Right on the home page, you’ll spot a section labeled “Gigs.” This is where short-term job offers are posted, ranging from labor-intensive tasks to more skill-specific roles.
Here are some jobs I have found in the past on Craigslist:
Moving boxes to a new house
Deep cleaning a home
Putting together new furniture out of a box
Taking down a shed in a backyard
Handyman
Movie extra
Event parking help
27. Deliver groceries with Instacart
If you’re a teacher looking for flexible summer jobs for teachers, try delivering groceries with Instacart.
Grocery delivery services, like Instacart, are in demand as more people prefer having someone else do their grocery shopping.
Becoming a personal grocery shopper with services like Instacart can earn you an average of $15 to $20 per hour for delivering groceries. You’re paid per order, and you get to keep 100% of your tips. The flexibility allows teachers to choose their schedules, working in the evenings, on weekends, or even exclusively during the summer.
Recommended reading: Instacart Shopper Review: How much do Instacart Shoppers earn?
9
Instacart is a popular website for people looking to earn extra money shopping for and delivering groceries. Instacart gives you the option to turn your free time into a chance to make some extra money.
28. Real estate agent
If you’re a teacher looking for a productive way to spend your summer months, you may consider becoming a real estate agent.
Some teachers work as real estate agents alongside their full-time teaching jobs. This is possible because you can list and sell homes during weekends, breaks, evenings, and over the summer.
However, selling homes may have some challenges, as clients may occasionally require your full attention during the day, and you might be occupied with teaching. This is something to consider before getting into real estate as a side job.
29. Virtual assistant
If you’re a teacher looking for a flexible summer job that pays well, becoming a virtual assistant (VA) could be a perfect fit. As a VA, you can use your organizational skills and attention to detail to help businesses and entrepreneurs from the comfort of your home.
Some examples of what a VA does include:
Email management – Keep inboxes organized and respond to emails on behalf of your clients.
Scheduling – Manage calendars, arrange meetings, and send reminders.
File organization – Keep digital files in order using online tools like Google Drive or Dropbox.
Recommended reading: Best Ways To Find Virtual Assistant Jobs
30. Drive for Uber or Lyft
Driving for Uber or Lyft can give you a flexible way to earn money during your summer break.
You get to set your own hours and work as much or as little as you desire, meaning you can align this job with your summer plans.
31. Library assistant
As a teacher, your skills are a natural fit for a summer position as a library assistant. Libraries often seek additional staff during the summer months, providing a great opportunity for you to engage in a role that supports literacy and learning in a calm environment.
Your job may include doing things such as:
Organizing books – Keeping the library orderly and materials easy to access
Circulation desk duties – Checking books in and out for people
Helping library users – Helping visitors find books and resources, and answering inquiries
You can simply contact libraries near you to see if they are hiring.
32. Driver’s ed teacher
Teaching driving lessons to teenagers and adults is a popular side hustle for teachers. If you’re interested, you can check if the high school near you needs a teacher for this subject. Alternatively, reach out to a local driving school to inquire about potential teaching opportunities.
Driving instructors make around $20 an hour more or less, depending on where you live.
Back when I was in high school, I actually took my driver’s ed course at my high school in the summer. It was an easy summer credit, and I also got a discount on my car insurance. One of the teachers taught this course and it seemed fairly easy (other than having to deal with a bunch of us high school students over the summer who were wanting to learn how to drive, ha!).
33. Babysitting
Babysitting can be a side job for teachers, and depending on your location, you might earn around $15 to $25 per hour. Parents tend to prefer hiring teachers as babysitters due to their extensive experience with children.
Becoming a babysitter can be a great way to make extra money in the summer as well, as you can choose to sign up for babysitting jobs that are only during this time.
Plus, many families need extra help during the summer because school is not in session, but the parents still have to work. That is where you come in!
Another job similar to this would be elderly companion care.
Frequently Asked Questions
Below are answers to common questions about finding summer jobs for teachers.
Do teachers still make money during the summer?
Yes, many teachers do receive income during the summer, especially if their annual salary is distributed over 12 months. However, if you’re paid only for the months you work, looking for summer employment can supplement your income during this period. Not all teachers have summer gigs, but those who want to make income in addition to their teacher salaries may try to find something in the summer.
What is the best summer job for a teacher?
The best summer job for a teacher often capitalizes on their skill set. Positions like tutoring, educational program coordination, or teaching summer school are highly relevant options. Teachers might also consider roles in curriculum development or educational content creation.
What jobs exist for substitute teachers looking for summer employment?
Substitute teachers can find summer jobs in other educational roles, such as tutoring, mentoring, or working in summer camps. Many community centers and educational institutions also look for qualified professionals to lead summer workshops or help with childcare programs.
What are some summer jobs for teachers from home?
Teachers looking for summer jobs from home can find opportunities such as online tutoring or virtual summer school teaching. Other side gig ideas include writing content for websites, blogging, transcribing, and more.
Best Summer Jobs for Teachers – Summary
I hope you enjoyed this article on the best summer jobs for teachers.
As you can see, there are many ways to make extra money over your summer vacation.
Teachers have lots of options during the summer. They can stick with education by teaching summer school or tutoring. Or, they can try something new like being a camp counselor or giving local tours.
Teachers who like trying out new things might sell educational printables, sell things for profit, or sell services like pet care or freelance writing.
What do you think are the best jobs for teachers in the summer?