A tax deduction reduces your taxable income, potentially lowering the amount of income you can be taxed on. A tax credit directly reduces the amount of tax owed. Tax deductions are based on expenses or contributions, such as mortgage interest or charitable donations. Tax credits are applied after calculating how much you owe in taxes and can provide a dollar-for-dollar reduction.
When you file your federal and state tax returns, you probably look for ways to reduce the amount of money you owe. To maximize your savings, you need to know the difference between a tax credit vs. a deduction. Both affect the amount of tax due, but they do so in different ways. Here’s how to distinguish between the two.
Note: This is for informational purposes only and is not tax advice. Please consult your tax professional to discuss your individual situation.
Defining Tax Credit vs. Tax Deduction
A tax credit is a tax incentive that allows you to subtract the amount of the credit from the amount of tax you owe. For example, if you owe $2,000 in taxes and take a credit worth $1,000, the credit reduces your tax bill to $1,000. The tax credit is a dollar-for-dollar adjustment.
In contrast, a tax deduction is an amount of money deducted from your income. When you take a deduction, it reduces your taxable income by the same amount of money. For example, the standard deduction allows you to deduct $14,600—$29,200 for married couples—from your adjusted gross income.
Here’s the main difference between the two. Tax credits reduce your tax bill directly, as they offset your tax liability. Tax deductions don’t reduce your taxes directly, but they lower your tax bill by reducing the amount of taxable income you have.
Refundable vs. Nonrefundable Tax Credits
Once you understand the difference between a tax credit vs. a deduction, you also need to know the difference between refundable and nonrefundable tax credits. The type of credit you apply makes a big difference in determining the size of your refund.
If you owe less than the amount of a refundable credit, you get the difference back from the IRS or your state revenue agency. Assume you owe $500 and are eligible for a refundable credit worth $1,500. Not only would the credit wipe out your $500 tax bill, but it would also help you qualify for a $1,000 tax refund.
With nonrefundable credits, you don’t get back the difference between the amount of the credit and the amount of tax you owe. In the scenario above, the credit would reduce your tax bill to $0, but you wouldn’t get the extra $1,000 as a refund.
Common Tax Credits and Deductions
Before you prepare your tax return, take time to learn about some of the most common tax credits and deductions for taxpayers in your situation. Many credits and deductions are based on your income, family size, and filing status. You may also qualify for credits and deductions based on college enrollment, self-employment, or charitable donations.
Tax Credits
Earned Income Tax Credit
The EITC is a federal tax credit for filers with low to moderate incomes. To qualify, you must have earned income, which is income you get from working. Dividends, bank interest, and other forms of passive income don’t count as earned income.
You must also earn less than $63,398 annually. The amount of the EITC ranges from $600 to $7,430, depending on how many children you have.
American Opportunity Tax Credit
The American Opportunity Tax Credit is a federal tax credit worth up to $2,500 per year. You may qualify if you have expenses related to your first four years of higher education, such as tuition, textbooks, or course fees.
Additionally, the AOTC is partially refundable. If you owe $0, you can get back 40% of the remaining amount of the credit as a refund. For example, if you owe $0 and are eligible for the $2,500 maximum, you can get a $1,000 refund when you file your return.
To qualify for the AOTC, you must have a modified adjusted gross income of no more than $80,000 per year—$160,000 if you’re married and file a joint tax return.
Lifetime Learning Credit
The Lifetime Learning Credit is also an educational credit, but it’s a little more flexible than the AOTC. To claim this credit, you must meet the following requirements:
You paid qualified expenses for higher education.
You paid the expenses for an eligible student enrolled at any college, trade school, university, or other educational institution that meets the requirements to participate in a federal student aid program. This is known as an “eligible institution.”
The eligible student is you, your spouse, or a dependent claimed on your tax return.
Your modified adjusted gross income doesn’t exceed $90,000—or $180,000 if you’re married and file a joint tax return. Note that the amount of the credit is gradually reduced if you have a MAGI between $80,000 and $90,000. If you’re married and file a joint tax return, the phaseout starts at $160,000.
This credit is worth up to $2,000 per year, and there’s no limit to the number of times you can claim it.
Child and Dependent Care Credit
The child and dependent care credit reimburses you for some of the expenses you paid for the care of a qualifying individual. If you have a child, they must be under the age of 13 at the time you pay for care. A qualifying individual may also be an adult who’s mentally or physically unable to care for themselves.
The IRS only allows you to claim this credit if you paid for care because you were working or actively looking for work. You can’t claim the credit if you needed child or dependent care for another reason, such as attending school or taking time off to care for an elderly parent.
If you qualify for the credit, the amount you can claim depends on your income. Under the IRS rules, an eligible taxpayer may claim 20% to 35% of their child and dependent care expenses. However, you’re only allowed to claim up to $3,000 in expenses for one dependent or $6,000 in expenses for two or more dependents.
Assume the following:
You have one eligible dependent.
You spent $3,600 on childcare expenses during the tax year.
Based on your income, you can claim 35% of your eligible expenses.
In this scenario, you can’t claim the full $3,600 in expenses, so you’d multiply $3,000 by 35% to determine the amount of your credit.
Tax Deductions
Medical Expense Deduction
The medical expense deduction allows you to deduct unreimbursed medical expenses on your federal tax return. However, you can’t use this deduction unless you itemize, which involves deducting specific expenses rather than taking the standard deduction. Itemizing doesn’t always save you the most money, so consult with a tax professional before you take this deduction.
If you decide that itemizing is right for your situation, you can only deduct medical expenses that exceed 7.5% of your adjusted gross income. Here’s an example:
Assume you have an AGI of $60,000 and $7,000 in unreimbursed medical expenses. If you multiply $60,000 by 0.075, you get $4,500. You can only deduct expenses exceeding the 7.5% threshold, so your deduction would be $2,500, not the full $7,000.
An unreimbursed medical expense is any expense that hasn’t been reimbursed by your health insurance company or another entity. Note that you can’t claim expenses that were paid from a flexible spending account or a health savings account, as both types of accounts already have tax advantages.
Mortgage Interest Deduction
If you have a home loan, you may be able to deduct the interest on your federal tax return. To qualify for this deduction, you must file Form 1040 or Form 1040-SR, itemize your deductions on Schedule A and have an ownership interest in the mortgaged property.
The amount of money you can deduct depends on the amount of your mortgage and when you took it out. Calculating the deduction can be a bit tricky, so don’t be afraid to consult a qualified tax professional.
Student Loan Interest Deduction
If you have student loans, the IRS allows you to deduct $2,500 or the amount of interest you paid during the year, whichever is less. For example, if you paid $2,346 in interest during the year, you can deduct $2,346 from your AGI. You can’t deduct the full $2,500.
Additionally, you can’t claim the student loan interest deduction if you earn more than $75,000 as a single filer or $155,000 if married filing jointly.
Making Sense of Tax Credits vs. Deductions
Credit and deduction amounts aren’t set in stone. The IRS may decide to change the eligibility criteria for some of these credits and deductions. It’s wise to consult a tax professional if you need help determining the best way to file your tax return.
Note that the credits and deductions above apply to your federal tax return only. Your state may offer additional savings opportunities, or it may have different eligibility criteria. Ask your tax professional if you qualify for any state-level credits or deductions.
Visit Credit.com for more information that may help you during tax season.
Want to learn how to make $5 fast? If you need to make $5 as quickly as possible, there are ways to make that happen. Many of the ways to make $5 dollars fast on today’s list are quite easy and can even be stacked together so that you can make extra income many times…
Want to learn how to make $5 fast?
If you need to make $5 as quickly as possible, there are ways to make that happen. Many of the ways to make $5 dollars fast on today’s list are quite easy and can even be stacked together so that you can make extra income many times over and over again.
Whether you’re in need of a little extra cash or just looking for a way to supplement your income, various strategies can help you earn that money quickly.
17 Ways To Make $5 Fast
Want to learn how to make $5 fast? Here are the best ways to make $5 right now and every week.
1. Take surveys online
Earning $5 a day just by answering surveys is possible and is an easy way to make money from home.
When I was paying back my student loans, I filled out many surveys every week. I did this before work, during lunch, or after work. It was easy because I could do it whenever I had some free time.
Survey companies give you money for answering surveys, watching videos, and trying out products. Sometimes, they might even give you free products to test. And the great thing is, signing up with these companies doesn’t cost anything!
Some of the paid online survey companies I recommend are:
The sites above usually pay out via cash rewards to PayPal accounts or gift cards to places like Amazon.
Here are 11 Paid Online Survey Sites if you want to learn more.
2. Get rewarded for grocery shopping
When you go shopping for groceries, you can earn money back just by buying the things you need. My favorite way to do this is with the Fetch Rewards app.
Fetch Rewards is an app you can use on your phone to get free rewards just by scanning your grocery receipts. Whenever you go grocery shopping, make sure to keep your receipt. Then, after you’re done shopping, use the Fetch app to scan your receipt. This will earn you points for every purchase that has an offer tied to it.
I personally use this app every time I shop for groceries. It only takes me less than a minute to scan my receipt from the grocery store. Doing this lets me earn points easily, which I can then use for free gift cards.
Recommended reading: 21 Ways To Get Free Money Now
3. Play games and earn
If you enjoy playing games, you can actually make money from it! That’s right, you can earn real cash by playing games on your phone or computer!
Game apps are able to pay you real money because they make their own money from ads and purchases within the app. Then, they give you a portion of what they earn to keep you interested in playing their games.
Below is a quick list of popular game apps that pay real cash:
KashKick
Swagbucks
InboxDollars
Other popular games to make $5 fast include Mistplay, Blackout Bingo, and Solitaire Cube.
4. Watch videos and ads for money
Companies pay people to watch ads to understand what consumers want and if they would buy their product. This helps companies make their products better and possibly earn more money. They also pay people to watch their ads to get more attention for their company.
Some companies that pay you to watch videos and ads include:
Watching videos for cash is easy. You sign up for these websites, choose videos or ads to watch, and start earning. Most videos pay just a few pennies, but there are some that may pay a few dollars.
Recommended reading: 13 Ways To Get Paid To Watch Ads
5. Shop through cash back sites
When you shop online, you can actually get some of your money back by using cash back sites. It’s kind of like getting a discount, but instead of saving money right away, you get some money back later on. I use cash back sites and apps almost every time I shop online – it’s a simple way for me to get some extra cash for free.
One popular app is Rakuten. When you shop through them, they give you a percentage of your purchase back. It’s super easy too. Start by making a Rakuten account, find your store on their site, and shop like normal. Rakuten sends the cash back to you afterward.
Some popular cash back apps and sites that I like include:
Rakuten – You can receive checks or PayPal payments. By shopping online through their website, you earn a percentage of your spending back. They offer deals for many stores and retailers, giving you more opportunities to get money back on your online purchases.
Swagbucks – You can earn points that you can exchange for cash or gift cards.
Capital One Shopping – Capital One Shopping looks for better deals and coupons. You earn credits from purchases, which you can exchange for gift cards. I personally have this browser extension installed on my laptop, and it’s very easy to use.
6. Join a focus group
Participating in a focus group is a good way for you to make $5 fast – or even much more! A focus group is a small group of people who give their opinions about new products or services. Companies use these opinions to make their products better.
I have participated in a focus group that paid me about $400 for just 75 minutes of my time. Although that’s more than usual, most focus groups typically pay anywhere from around $50 to over $100 per hour. How much you get paid can vary a lot based on how long the study is and what it’s about, but there are definitely some studies that pay more than others.
One focus group company that I recommend is User Interviews. User Interviews recruits people like you and me to answer surveys and share your feedback.
7. Earn with cash back credit cards
If you’re looking to make a quick $5, your cash back credit card may be a way to make some extra money. If you have a credit card, you’re probably earning points just by spending money as you normally would.
You can convert your points into cash back with rewards credit cards. Here’s how it works: Every time you use your credit card to make a purchase, you earn points as a reward for spending money.
I have rewards credit cards, and I earn points every time I shop or pay a bill, without doing anything extra. I just handle my bills and expenses as usual. In fact, I recently signed up for a new rewards credit card with an amazing sign-up bonus worth over $800.
Recommended reading: Best Rewards Credit Cards
Note: Please make sure that you use credit cards responsibly and that you are aware of any annual fee that your credit card may charge.
8. Sell unused gift cards
If you’ve got gift cards lying around that you’re not going to use, you can turn them into cash quickly. You can easily sell your unused gift cards online and make that $5 or more, fast!
The top places to sell your gift cards include Raise, CardCash, CardSell, ClipKard, Gameflip, GiftCash, and Check Into Cash. If you want to get the most money for your gift card, it’s a good idea to check out different websites and see how much they’re willing to offer.
Recommended reading: 7 Best Places To Sell Gift Cards For Cash
9. Sell things you don’t need
One easy way to make $5 fast (or more) is to sell things around your home that you do not need. Everyone has things they no longer need or use – old books, clothes, or electronics. These items can turn into quick cash.
There are many places you can sell your old stuff too, such as eBay, Facebook, Mercari, Craigslist, or even hosting your own garage sale.
Recommended reading: How To Get $20 PayPal Now
10. Return something that you’ve recently bought
There may be a good chance that you have bought something recently that you don’t actually need. If you need $5 quickly, then finding something to return may be an easy way to make some extra bucks.
To make $5 quickly by returning an unused item, first, find items you don’t need anymore and make sure they’re in new condition with the original packaging and receipts.
Check the store’s return policy to make sure you can return the items and to know the time limit for returns. Then, go to the store’s customer service or returns desk with the item and receipt.
Follow the return process, and you’ll get your refund either in cash, credited back to your original payment method, or as store credit. If you can’t return the item, think about selling it online for fast cash.
11. Deliver food and groceries
If you want to make $5 fast, delivering food and groceries is a smart pick with companies like DoorDash, Instacart, and Uber Eats. All you need to make money with delivery services is a way to get around and a phone to accept orders.
When you deliver food, you pick up meals from restaurants and grocery stores and take them to people’s homes:
Instacart – This has a focus on grocery runs. You’re the one who goes up and down the aisles, grabbing what people need. You check the list, find the items, and deliver them.
DoorDash – It’s more about restaurant meals. You grab takeout orders and make sure they get to the customer while the food’s still hot.
Uber Eats – This is similar to DoorDash. It’s all about quick trips from the restaurant to the customer’s place.
You usually get more than $5 for each delivery. Plus, customers might tip you for your service too.
12. Freelance your skills online
To make $5 quickly by freelancing your skills online, first, figure out what you’re good at, like writing, graphic design, programming, or something else.
Then, sign up on freelance gig websites like Upwork, Fiverr, or Freelancer, and sell your services at a reasonable price, like $5 for a small task.
You can also share your services on social media, forums, or online groups to find clients fast.
13. Open a new bank account
Many banks have sign-up bonuses for new customers, such as for $100 or more for depositing a certain amount of money into a new bank account or for setting up direct deposit to your new bank account.
14. Test websites and apps
If you’re looking to make a quick $5, testing websites and apps could be a great option for you. Websites like User Testing will pay around $10 for you to test other people’s websites.
When you test websites, you pay attention to things that don’t work smoothly or might be confusing. Your feedback is valuable because companies want real opinions to improve their websites, not just simple answers.
15. Dog walking or pet sitting
Dog walking is a fun way for you to make some extra cash with a side hustle (this could be a full-time job as well!). If you enjoy spending time with dogs and love being outdoors, this could be your quick $5 or even more!
Dog walking apps like Rover allow you to list your dog walking services. This is an in-demand service where you may be able to earn $15 to $30 an hour walking dogs.
Recommended reading: 22 Ways To Make Money Online Without Paying Anything
16. Get paid to recycle
Recycling isn’t just good for the planet, it’s also a way to put a little extra cash in your pocket. You’re probably used to tossing your plastic bottles and aluminum cans into the recycling bin without a second thought, but did you know that some places will pay you for these items?
The first step is to look up a local recycling center that pays for recycling. They may list out which items they’ll pay for and how much they offer. Items like glass bottles, aluminum cans, and scrap metal are usually in demand.
17. Save money in a high yield savings account
A high-yield bank account is a low-risk method to make extra cash.
These types of savings accounts earn a higher interest rate than a regular savings account, so your money grows faster.
You will want to make sure that you pick a trustworthy bank and check the interest rates regularly because they can go up or down. Some people move their money into high-yield savings accounts often so that they can get the highest interest rates.
I personally use Marcus by Goldman Sachs as they have a very high rate. You can get up to 5.40% at the time of this writing through a referral link bonus. According to this high-yield savings account calculator, if you have $10,000 saved, you could earn $540 with a high-yield savings account in a year. Whereas with normal banks, your earnings would only be $46.
Frequently Asked Questions
Below are answers to common questions about how to make a quick $5.
What easy tasks can I do right now to earn $5 quickly?
If you want to make $5 right now, then I highly recommend finding items around your home to sell. This could be clothing, an old cell phone that you no longer use, or even furniture.
How can I sell my stuff fast for some quick cash?
To sell your things fast, list your stuff on sites like eBay or Facebook Marketplace. You’ll want to take good pictures, write clear descriptions, and set fair prices. You can often sell items you no longer need within a day or two, sometimes hours.
Can I get paid for doing online surveys or playing games?
Yes, you can! Websites like American Consumer Opinion pay you for completing surveys, and apps like Swagbucks reward you for surveys, playing games, referrals, and more. By signing up and participating, you can reach that $5 mark in no time.
How can kids or teens make $5 fast with little effort?
Kids and teens have lots of options such as doing household chores for a neighbor or having a small garage sale. I recommend reading 23 Best Business Ideas For Kids to learn more.
How can I make $5 in passive income?
My favorite way to make a quick $5 in passive income is to save money in a high-yield savings account. These types of savings accounts earn a higher interest rate than a regular savings account, so your money grows faster.
How To Make $5 Fast – Summary
I hope you enjoyed this article on how to make $5 quickly. As you can see, there are many ways to make $5 fast, and many times from home.
Examples of how to make $5 fast include taking online surveys, using grocery receipt apps, playing games online, getting cash back, selling freelancing gigs, and selling things that you no longer need.
Whether you need to make $5 just once, or if you are looking to make an extra $5 each day, there are many ways to do this.
Inside: r/personalfinance is full of popular subreddits with ideas on how to make money and save money or invest. Know best practices for Reddit personal finance and ways to learn from them.
Reddit is a popular online community where people can share content, ask questions, and comment on news articles and topics. One of the most popular sections for personal finance discussions is /r/personalfinance.
Here are some of the best posts from that section:
“How has your finances changed post-graduation?”
“I was able to pay off my student loans as well as move back into my parents’ house without any difficulty.”
“My financial situation isn’t too bad right now, but I worry about the future.”
Reddit has some great threads that cover personal finance topics.
This blog post will give you a list of the top 25 Reddit Personal Finance Threads, letting you know which ones to check out next time you want to learn more about personal finances.
I created this list because there are very few resources that point to real people with real stories they want to share.
Our site is jammed packed with information on how to succeed with money. You may be looking for more specific personal finance information.
Also, you can find very specific information on r/personalfinance like how to save money when you’re starting off your career or trying to figure out how much it costs for certain things in life like specific college tuition, where rent costs vary, and so forth.
In addition, it includes some of the most popular and insightful posts on this website.
Hopefully, this will help you learn about all aspects of personal finance so that you can start managing money and reach financial independence today!
Why use Reddit Personal Finance?
There are many reasons to use Reddit Personal Finance.
Some people use it as a resource for their own personal finance, while others may be using it in order to plan out what they want to do with their finances.
Reddit Personal Finance is a community of people who share their experiences and tips on personal finance.
Users can post questions, browse the subreddit’s popular posts, or find new content in the “new” tab. Reddit Personal Finance also has a directory of personal finance resources and tools that you can use to better your finances.
The personal finance subreddit is thriving, and it’s only going to get bigger. With over 15 million subscribers in 2022, the community has a lot of content to explore. Plus almost half of users are online at any time to answer questions.
It can be hard enough to find your way around this vast platform but by following these 15 threads you will soon have no problem navigating Reddit Personal Finance with ease!
Positives of Personal Finance Subreddits
The internet is a place to share information and connect with others. One of the best ways to do this is through various social media platforms such as Reddit.
The following are some of the benefits of using personal finance subreddits.
Find out about new financial trends and learn about the best ways to invest your money
Get advice on how to manage your finances and make smart financial decisions
Be a part of the community and have a chance to grow your own knowledge
Learn about new products, services, and companies that could help you with your finances
Get advice on how to invest your money.
Grow your personal finance knowledge to help you reach your goals faster.
If you’re looking for a place to find some personal finance-related content, Reddit offers many subreddits that are all about these topics.
Some of the posts offer objective and helpful information while others can be subjective and relatable in person.
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.
Reddit Basics
Before getting completely lost in Reddit, here are some important things you need to know.
For me, I quit using Reddit because I got overwhelmed and couldn’t find what I needed quickly enough. Thus, here is the lingo that will help you succeed.
Subreddit: A popular place to find information is on the subreddit; for example: “r/personalfinance”.
Upvote / Downvote: Users can upvote or downvote a comment. Reddit gives the comment a “score,” which is the number of upvotes minus the number of downvotes.
Karma: Other users can upvote or downvote your posts and comments; these tally to your “karma.” When providing helpful comments and posts, then they will reflect a higher karma score.
OP: Original Poster.
AMA: Ask Me Anything. An online Q&A session hosted by Reddit’s community in which some guest (normally famous) is or are available for questions
EDIT and ETA: Edit and Edited. A simple way for a user to denote the added to their original comment.
TL;DR: Too Long; Didn’t Read. This is added at the end of long text posts or comments to quickly summarize an article or comment as being too long to read. Sometimes, people use it to summarize the main point in case you don’t want to read the entire thing.
Top 5 Reddits Personal Finance
These are the most popular subreddits for personal finance. They have the most followers and daily interactions.
Does it mean they are the most important? No, there are plenty of subreddits to read regarding personal finances. (Don’t worry… we have a list of them below!)
R/PersonalFinance
R/PersonalFinance is a subreddit that focuses on personal finance.
This is the most popular community related to personal finances.
R/PersonalFinance is a subreddit for personal finance discussions, such as investing, budgeting, and saving money.
The subreddit’s community primarily consists of people who are just starting out with personal finance and those who are struggling to make ends meet as well as plenty of people who are ready to give back and help others.
Followers: 17.6m Members (as of April 2023)
Top Post: You are not “family” to your employer.
r/wallstreetbets
r/wallstreetbets is a subreddit that discusses the world of Wall Street, and how it impacts current events in financial markets. The subreddit’s name is a reference to the popular trading platform Wall Street.
Wall Street bets are financial wagers known for moving so-called “meme” stocks. Also, they are known to move stocks quickly in one direction to force hedge funds to cover their short sales, such as GME or AMC.
People in this community may win big and lose big since they are gambling on the information. You need to learn the meaning of YOLO.
Followers: 13.8m Members (as of April 2023)
Top Post: Times Square right now
r/bitcoin
The subreddit r/bitcoin is a popular Bitcoin news, discussion, and information site. The subreddit is one of the most active on Reddit with over 3 million subscribers.
As it is a digital means of payment, Bitcoin can resist wild rises in inflation and unfair banking practices because people are the ones who control their power and money. That is the belief of this community.
Followers: 4.9m Members (as of April 2023)
Top Post: It’s official! 1 Bitcoin = $10,000 USD
r/stocks
r/stocks is a subreddit in which people discuss the stock market, share trading strategies, and ask questions related to the stock market. There are no rules on r/stocks; users can post links to articles, ask questions, or share their own thoughts on the stock market.
Posts related to reddit stocks are welcome on /r/stocks, but read the rules first. Feel free to share a ticker everyone should know about.
Followers: 5.3m Members (as of April 2023)
Top Post: Companies try to prevent people from trading GME and AMCDiscussion
As you can tell, most of the popular Reddit topics are related to making money through stocks or cryptocurrency.
Is that a bad thing? No.
Just remember… You can learn to fish or you can be fed by others. Personally, I think it is best to learn how to fish and find your own way to make money with stocks and cryptocurrency.
Must Read:
The Next Best 21 Personal Finance Subreddits
The purpose of any of these subreddits is to provide an online community where people can discuss their finances in a respectful, non-judgmental, and anonymous environment.
We will cover the best personal finance Reddit forums that offer advice that can help people at all levels of their finances with tips ranging from simple ones such as grocery shopping without checking receipts and getting discounts by using apps to more complicated ones like how to save up for a vacation.
This list is not limited to just Reddit threads.
Here is a collection of the top 22 personal finance subreddits on Reddit:
R/Frugal
R/Frugal is a subreddit on Reddit.com that focuses on frugality and the concept of living life with less money. Also, the community is made up of individuals who are interested in living a lifestyle of less spending and more saving.
Frugality takes mental preparation of all your resources including time, money, convenience, and any other desired things.
Followers: 2.9m Members (as of April 2023)
Top Post: I got bids from tile setters to do a backsplash for $2000. I ended up doing it myself for under $200.
R/investing
Reddit’s r/investing is a subreddit dedicated to the stock market. It has more than 2.0 million subscribers and provides information on stocks, investing strategies, and other related topics.
Investing is the process of putting money into assets in the hope that they will increase in value. Sometimes investments are made by professionals, but most often, people invest for themselves and their families.
If you are looking for advice on investing, r/investing is the place to go. With nearly 2 million readers and growing, there is a lot of information here that can help people make better financial decisions.
Followers: 2.2m Members (as of April 2023)
Top Post: Robinhood and other brokers literally blocking purchase of $GME, $NOK, $BB, $AMC; allow sells
R/Shoestring
A discussion community focusing on travel and cheap options for traveling, whether through couchsurfing, camping, staying in hotels or hostels.
Discuss topics such as booking last-minute plane tickets, cheap destinations, budget transportation like hitchhiking or staying in Airbnbs. Learn the benefits of these different methods of travel.
Wanting to travel on a shoestring budget is a real gig!
Followers: 2.0m Members (as of April 2023)
Top Post: I worked roughly 10 hours a week at an Airbnb in exchange for housing and amenities.
R/realestateinvesting
Real estate investing is the process of buying a property with the intention of renting it out or flipping it for profit. The term applies to any real estate investment but typically refers to residential properties that are bought and sold.
Real Estate Investing is a popular topic on Reddit. It covers the types of investments, such as flipping houses to investing in commercial real estate, or even wholesaling.
Followers: 1.7m Members (as of April 2023)
Top Post: Today, at the age of 28, I became a millionaire
R/Financialindependence
The r/financialindependence subreddit is a good place to find people who are working towards financial independence.
This is a place where people who are or want to become financially independent, which means not working for money can meet one another.
Having money affirmations are a huge part of the motivation for those in the FI movement.
Followers: 1.9m Members (as of April 2023)
Top Post: Just Crossed 100K Net Worth Living in NY
r/PersonalFinanceCanada
r/PersonalFinanceCanada is a subreddit that is dedicated to Canadian personal finance and investing topics. The Reddit personal finance Canada community has over 600,000 subscribers who share questions, experiences, advice, and more.
This is great for country-specific financial issues.
Followers: 1.2m Members (as of April 2023)
Top Post: Bullet Dodged- First Time Home Buyers Be Ware.
r/UKPersonalFinance
The subreddit r/UKPersonalFinance is a place for people to share their personal finance experiences with others. The subreddit was created by two UK-based users in 2013 and originally had about 200 subscribers. It now has more than 500,000 subscribers and is one of the most popular finance-related subreddits on Reddit.
Learn, discuss, and request help on how to get access to, budget for, protect your money from, save and invest your money in the UK.
Followers: 1.0m Members (as of April 2023)
Top Post: Financial Reality Check
R/CreditCards
R/CreditCards is a subreddit dedicated to the discussion of credit cards, credit and debit cards, prepaid cards, banks, loans, etc.
In addition to the standard trading of information on pricing and terms, Reddit users can also post links to other websites that offer credit card offers.
Followers: 1.2m Members (as of April 2023)
Top Post: Do not do this, if you want your credit card to remain open
r/finance
R/Finance is a subreddit on Reddit that focuses on personal finance. The sub has more than 20,000 subscribers and receives more than 100,000 views per day.
All questions must be asked in the Monday Morning catch-all threads.
Followers: 1.8m Members (as of April 2023)
Top Post: Bipartisan bill would ban lawmakers from buying, selling stocks
r/budgetfood
The subreddit r/budgetfood is dedicated to discussing and sharing the best cheap food ideas. It has a strong focus on coming up with recipes that are both nutritious and easy to make.
Find great tips to stretch your grocery budget.
Followers: 1.2m Members (as of April 2023)
Top Post: Sesame “chicken,” but with cauliflower
r/FinancialPlanning
A subreddit to discuss and ask questions about personal finances, budgeting, investments, and insurance of people’s portfolios.
Followers: 581k Members (as of April 2023)
Top Post: Dad Level – Expert
R/leanfire
R/leanfire is a subreddit for posts about lean startup, business, and marketing. The name of the subreddit comes from the lean startup methodology philosophy which has been popularized by Eric Ries and Steve Blank, who are both cited as the founders of the lean startup movement.
R/Leanfire is a subreddit for those who are trying to achieve the type of success that qualifies you as financially independent. It’s not an easy task, but it can be done with hard work and determination.
Followers: 260k Members (as of April 2023)
Top Post: Just paid off my house
R/passive_income
Reddit has a subreddit that is dedicated to the topic of passive income. This includes things like side-hustles and other ways to make money without having to work for it.
The passive income community on Reddit discusses how they can make money. They post their experiences and give advice to other members of the community about making passive income. This is great for finding more ways to make money.
Followers: 322k Members (as of April 2023)
Top Post: I’m sure this means passive income. But can someone explain it. I don’t get it.
R/FIRE
R/FIRE is a subreddit that focuses on the topic of financial independence retire early.
For financial independence retire early movement has become popular over the past 5-10 years.
This is not just a community, but a place to discuss Financial Independence Retiring Early (FIRE) by fighting for financial freedom and controlling your destiny.
Followers: 263k Members (as of April 2023)
Top Post: Don’t be discouraged by young people who seem to be doing way better than you.
R/StudentLoans
R/StudentLoans is a subreddit dedicated to financial aid advice and discussion.
Some people are having trouble with student loans and they may be asking for advice. Here is some information on how to pay off your loan, as well as make mistakes that could lead to fees or interest added onto the balance of a loan.
Followers: 281k Members (as of April 2023)
Top Post: Biden to extend waivers another nine months
R/Bogleheads
The subreddit R/Bogleheads is a community for people who follow Jack Bogle’s simple investing methods to diversify and let compounding grow wealth. They share common interests and discuss topics such as the US financial system, taxation, Social Security, and retirement.
Perfect community for the passive investor.
Followers: 241k Members (as of April 2023)
Top Post: I started investing in my 401k 25 years ago this week. Hit a milestone today.
R/sidehustle
The term, “side hustle”, is a movement in recent years. Side Hustlers are people who would like to supplement their income by doing activities that they enjoy outside of work or school. In this community, start a small business or non-professional activity that you do in your spare time to supplement your income.
Followers: 412k Members (as of April 2023)
Top Post: Strange Side Hustle – I resell Bras full time on Amazon. AMA
R/money
r/money is primarily composed of people discussing personal finance topics such as stocks, investing, taxes, and personal finance.
Consequently, this smaller subreddit will help you get real advice and not lots of random opinions.
Followers: 89.9k Members (as of April 2023)
Top Post: New r/money subreddit icon?
Reddit Personal Finance Flowchart
The flowchart below describes the general process of saving for a goal. The user has to consider how much money they can allocate each month, and then determine how long it will take them to save for their goal.
This is a very similar concept to a personal financial statement.
You must consider how much you want to save each month, as well.
Find the Reddit personal finance flowchart.
In addition, the simplicity of the flowchart will be surprising.
Must Read: Money Bliss Steps to Financial Freedom
Reddit Personal Finance FAQ
Avoiding Reddit may be hard, but it is possible to avoid the more toxic parts of this site. There are a few key things to keep in mind that will help you avoid the worst of Reddit.
Avoid #1 – Posting Personal Information
The best practice is to avoid posting personal information. As such, your information may be used against you. Reddit is a social media website with different spheres of interest.
In order to avoid appearing disingenuous, it is best not to ask for upvotes or downvotes on posts.
Avoid #2 – Breaking the Thread Rules
The website has its own set of rules which every user should be familiar with before posting anything on the website. Reddit is known for its open dialogue, where members are encouraged to discuss a variety of topics from politics to technology.
However, people frown upon breaking the community rules.
Getting kicked out of many Reddit forums for not following the community rules is a possibility.
Avoid #3 – Be Careful on Opinions
The popular, winning opinions on Reddit are often biased and not based on facts. One example is the “What’s your favorite type of cheese” thread. In the end, it was a wildly popular opinion and later debunked by science.
One way to avoid these posts is by following an established Redditor with a solid reputation who has shown their ability to discuss topics like investing or personal finance without being judgmental or overly emotional about it.
Always do your own research to back up anything you may have learned on a r/personalfinance thread.
Reddit Personal Finance Windfall of Information
It is difficult to save money and track your finances because there is so much information coming at you.
There is no one likable than a hero in the story of personal finance, but what if you could be that hero?
These Reddit Personal Finance Threads are a great way for beginner investors or people just starting out on their own journey to learn about the different aspects of personal finance.
Also, there are helpful for veterans trying to keep up with all those new financial technologies over the years.
The best 25 Reddit Personal Finance Threads include some interesting posts on the topic from different perspectives like stocks, earning more money through certain professions, making your first million dollars, etc.
Thus, giving you plenty of insightful tips for success in life and finances!
After reading this Reddit personal finance article, make sure to subscribe for more Money Bliss tips.
One of the best ways to improve your personal finance situation is to increase your income. Here are a variety of side hustles that are very lucrative. With time and effort, you can start enjoying the lifestyle you want.
As an Amazon Associate and member of other affiliate programs, I earn from qualifying purchases.
This is the perfect side hustle if you don’t have much time, experience, or money.
Many earn over $10,000 in a year selling printables on Etsy. Learn how to get started by watching this free workshop.
Are you passionate about words and reading?
If so, proofreading could be a perfect fit for you, just like it’s been for countless of readers! Learn how you can create a freelance business as a proofreader.
Check out this free workshop!
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Bookkeeping is the most stable, reliable & simple business to own. This is how to make a realistic income -either part-time or full-time.
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You can make money as a freelance writer. Learn techniques to find those jobs and earn the kind of money you deserve! Plus get tips to land your first freelance writing gig!
Learn how to buy and resell items from flea markets, thrift stores and yard sales. They will teach you how to create a profitable reselling business quickly
…no matter how much or how little experience you have.
Learn how to supplement your daily, weekly, or monthly income with trading so that you can live your best life! This is a lifestyle trading style you need to learn.
Honestly, this course is a must for anyone who invests. You will lose more in the market than you will spend this quality education – guaranteed.
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Designed as a 101-level course on freight brokerage, you’ll learn the basics of freight brokering in this online course.
This course is designed for freight brokers in any setting, regardless of their employment status.
If you want to start your brokerage, we’ll show you exactly how to do it. If you are an agent or employee of a brokerage, we’ll take you through sales and operations modules designed to help you source more leads and move more freight.
The Empowered Business Lab teaches you how to sell your digital products naturally with strategies that just make sense.
Monica helps thousands find momentum and create revenue streams in their businesses.
After taking a second job as a driver for Amazon to make ends meet, this former teacher pivoted to be a successful stock trader.
Leaving behind the stress of teaching, now he sets his own schedule and makes more money than he ever imagined. He grew his account from $500 to $38000 in 8 months.
Check out this interview.
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.
Real estate investing can be an effective way to hedge against the effects of inflation in a portfolio while generating a steady stream of income. When it comes to how to invest in real estate, there’s no single path to entry.
Where you decide to get started can ultimately depend on how much money you have to invest, your risk tolerance, and how hands-on you want to be when managing real estate investments.
Why Invest in Real Estate?
Real estate investing can yield numerous benefits, for new and seasoned investors alike. Here are some of the main advantages to consider with property investments.
• Real estate can diversify your portfolio, allowing you to better balance risk and rewards.
• Provides the opportunity to generate investment returns outside of owning securities such as stocks, ETFs, or bonds.
• Historically, real estate is often seen as a hedge against inflation, since property prices tend to increase in tandem with price increases for other consumer goods and services.
• Owning real estate investments can allow you to generate a steady stream of passive income in the form of rents or dividends.
• Rental property ownership can include some tax breaks since the IRS allows you to deduct ordinary and necessary expenses related to operating the property.
• Real estate may appreciate significantly over time, which could result in a sizable gain should you decide to sell it. However, real estate can also depreciate in value, leading to a possible loss or negative return. Investors should know that the real estate market is different than the stock market, and adjust their expectations accordingly.
There’s one more thing that makes real estate investing for beginners particularly attractive: There are many ways to do it, which means you can choose investments that are best suited to your needs and goals.
💡 Quick Tip: While investing directly in alternative assets often requires high minimum amounts, investing in alts through a mutual fund or ETF generally involves a low minimum requirement, making them accessible to retail investors.
Alternative investments, now for the rest of us.
Start trading funds that include commodities, private credit, real estate, venture capital, and more.
7 Ways to Invest in Real Estate
Real estate investments can take different forms, some of which require direct property ownership and others that don’t. As you compare different real estate investments, here are some important things to weigh:
• Minimum investment requirements
• Any fees you might pay to own the investment
• Holding periods
• Past performance and expected returns
• Investment-specific risk factors
With those things in mind, here are seven ways to get started with real estate investing for beginners.
1. Real Estate Investment Trusts (REITs)
A real estate investment trust (REIT) is a company that owns and operates income-producing properties. The types of properties you might find in a REIT include warehouses, storage facilities, shopping centers, and office space. A REIT may also own mortgages or mortgage-backed securities.
REITs allow investors to enjoy the benefits of property ownership without having to buy a building or land. Specifically, that means steady income as REITs are required to pay out 90% of taxable income annually to shareholders in the form of dividends. Most REIT dividends are considered to be ordinary income for tax purposes.
Many REITs are publicly traded on an exchange just like a stock. That means you can buy shares through your brokerage account if you have one, making it relatively easy to add REITs to your portfolio. Remember to consider any commission fees you might pay to trade REIT shares in your brokerage account.
2. Real Estate Funds
Real estate funds are mutual funds that own a basket of securities. Depending on the fund’s investment strategy, that may include:
• Individual commercial properties
• REITs
• Mortgages and mortgage-backed securities
Mutual funds also trade on stock exchanges, just like REITs. One of the key differences is that mutual funds are not required to pay out dividends to investors, though they can do so.
Instead, real estate funds aim to provide value to investors in the form of capital appreciation. A real estate fund may buy and hold property investments for the long term, in anticipation of those investments increasing in value over time.
Investing in a real estate fund vs. REIT could offer broader exposure to a wider range of property types or investments. A REIT, for instance, may invest only in hotels and resorts whereas a real estate mutual fund may diversify with hotels, office space, retail centers, and other property types.
3. REIT ETFs
A REIT ETF or exchange-traded fund is similar to a mutual fund, but the difference is that it trades on an exchange just like a stock. There’s also a difference between REIT ETFs and real estate mutual funds regarding what they invest in. With a REIT ETF, holdings are primarily concentrated on real estate investment trusts only.
That means you could buy a single REIT ETF and gain exposure to 10, 20 or more REITs in one investment vehicle.
Some of the main advantages of choosing a REIT ETF vs. real estate funds or individual REITs include:
• Increased tax efficiency
• Lower expense ratios
• Potential for higher returns
A REIT ETF may also offer a lower minimum investment than a REIT or real estate fund, which could make it suitable for beginning investors who are working with a smaller amount of capital.
But along with those advantages, investors should know about some of the potential drawbacks:
• ETF values may be sensitive to interest rate changes
• REIT ETFs may experience volatility related to property trends
• REIT ETFs may be subject to several other types of risk, such as management and liquidity risk more so than other types of ETFs.
As always, investors should consider the risks along with the potential advantages of any investment.
4. Real Estate Crowdfunding
Real estate crowdfunding platforms allow multiple investors to come together and pool funds to fund property investments. The minimum investment may be as low as $500, depending on which platform you’re using, and if you have enough cash to invest you could fund multiple projects.
Compared to REITs, REIT ETFs, or real estate funds, crowdfunding is less liquid since there’s usually a required minimum holding period you’re expected to commit to. That’s important to know if you’re not looking to tie up substantial amounts of money for several years.
You’ll also need to meet a platform’s requirements before you can invest. Some crowdfunding platforms only accept accredited investors. To be accredited, you must:
• Have a net worth over $1 million, excluding your primary residence, OR
• Have an income of $200,000 ($300,000 if married) for each of the prior two years, with the expectation of future income at the same level
You can also qualify as accredited if you hold a Series 7, Series 65, or Series 82 securities license.
5. Rental Properties
Buying a rental property can help you create a long-term stream of income if you’re able to keep tenants in the home. Some of the ways you could generate rental income with real estate include:
• Buying a second home and renting it out to long-term tenants
• Buying a vacation home and renting it to short-term or seasonal tenants
• Purchasing a multi-unit property, such as a duplex or triplex, and renting to multiple tenants
• Renting a room in your home
But recognize the risks or downsides associated with rental properties, too:
• Negative cash flow resulting from tenancy problems
• Problem tenants
• Lack of liquidity
• Maintenance costs and property taxes
Further, the biggest consideration with rental properties usually revolves around how you’re going to finance a property purchase. You might try for a conventional mortgage, an FHA loan if you’re buying a multifamily home and plan to live in one of the units, a home equity loan or HELOC if you own a primary residence, or seller financing.
Each one has different credit, income, and down payment requirements. Weighing the pros and cons of each one can help you decide which financing option might be best.
6. Fix and Flip Properties
With fix-and-flip investments, you buy a property to renovate and then resell it for (ideally) a large profit. Becoming a house flipper could be lucrative if you’re able to buy properties low, then sell high, but it does take some knowledge of the local market you plan to sell in.
You’ll also have to think about who’s going to handle the renovations. Doing them yourself means you don’t have to spend any money hiring contractors, but if you’re not experienced with home improvements you could end up making more work for yourself in the long run.
If you’re looking for a financing option, hard money loans are one possibility. These loans let you borrow enough to cover the purchase price of the home and your estimated improvements, and make interest-only payments. However, these loans typically have terms ranging from 9 to 18 months so you’ll need to be fairly certain you can sell the property within that time frame.
7. Invest in Your Own Home
If you own a home, you could treat it as an investment on its own. Making improvements to your property that raise its value, for example, could pay off later should you decide to sell it. You may also be able to claim a tax break for the interest you pay on your mortgage.
Don’t own a home yet? Understanding what you need to qualify for a mortgage is a good place to start. Once you’re financially ready to buy, you can take the next step and shop around for the best mortgage lenders.
How to Know If Investing in Real Estate Is a Good Idea for You
Is real estate investing right for everyone? Not necessarily, as every investor’s goals are different. Asking yourself these questions can help you determine where real estate might fit into your portfolio:
• How much money are you able and willing to invest in real estate?
• What is your main goal or reason for considering property investments?
• If you’re interested in rental properties, will you oversee their management yourself or hire a property management company? How much income would you need them to generate?
• If you’re considering a fix-and-flip, can you make the necessary commitment of time and sweat equity to get the property ready to list?
• How will you finance a rental or fix-and-flip if you’re thinking of pursuing either one?
• If you’re thinking of choosing REITs, real estate crowdfunding, or REIT ETFs, how long do you anticipate holding them in your portfolio?
• How much risk do you feel comfortable with, and what do you perceive as the biggest risks of real estate investing?
Talking to a financial advisor may be helpful if you’re wondering how real estate investments might affect your tax situation, or have a bigger goal in mind, like generating enough passive income from investments to retire early.
💡 Quick Tip: When you’re actively investing in stocks, it’s important to ask what types of fees you might have to pay. For example, brokers may charge a flat fee for trading stocks, or require some commission for every trade. Taking the time to manage investment costs can be beneficial over the long term.
The Takeaway
Real estate investing is one of the most attractive alternative investments for portfolio diversification. While you might assume that property investing is only for the super-rich, it’s not as difficult to get started as you might think. Keep in mind that, depending on how much money you have to invest initially and the degree of risk you’re comfortable taking, you’re not just limited to one option when building out your portfolio with real estate.
Ready to expand your portfolio’s growth potential? Alternative investments, traditionally available to high-net-worth individuals, are accessible to everyday investors on SoFi’s easy-to-use platform. Investments in commodities, real estate, venture capital, and more are now within reach. Alternative investments can be high risk, so it’s important to consider your portfolio goals and risk tolerance to determine if they’re right for you.
Invest in alts to take your portfolio beyond stocks and bonds.
FAQ
How Can I Invest in Property With Little Money?
If you don’t have a lot of money to invest in property, you might consider real estate investment trusts or real estate ETFs for your first investments. REITs and ETFs can offer lower barriers to entry versus something like purchasing a rental property or a fix-and-flip property.
Is Real Estate Investing Worth It?
Real estate investing can be worth it if you’re able to generate steady cash flow and income, hedge against inflation, enjoy tax breaks, and/or earn above-average returns. Whether investing in real estate is worth it for you can depend on what your goals are, how much money you have to invest, and how much time you’re willing to commit to managing those investments.
Is Investing in Real Estate Better Than Stocks?
Real estate tends to have a low correlation with stocks, meaning that what happens in the stock market doesn’t necessarily affect what happens in the property markets. Investing in real estate can also be attractive for investors who are looking for a way to hedge against the effects of inflation over the long term.
Is Investing in Real Estate Safer Than Stocks?
Just like stocks, real estate investments carry risk meaning one isn’t necessarily safer than the other. Investing in both real estate and stocks can help you create a well-rounded portfolio, as the risk/reward profile for each one isn’t the same.
Photo credit: iStock/Pheelings Media SoFi Invest® INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE SoFi Invest encompasses two distinct companies, with various products and services offered to investors as described below:
Individual customer accounts may be subject to the terms applicable to one or more of these platforms.
1) Automated Investing and advisory services are provided by SoFi Wealth LLC, an SEC-registered investment adviser (“SoFi Wealth“). Brokerage services are provided to SoFi Wealth LLC by SoFi Securities LLC.
2) Active Investing and brokerage services are provided by SoFi Securities LLC, Member FINRA (www.finra.org)/SIPC(www.sipc.org). Clearing and custody of all securities are provided by APEX Clearing Corporation.
For additional disclosures related to the SoFi Invest platforms described above please visit SoFi.com/legal.
Neither the Investment Advisor Representatives of SoFi Wealth, nor the Registered Representatives of SoFi Securities are compensated for the sale of any product or service sold through any SoFi Invest platform.
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.
Investment Risk: Diversification can help reduce some investment risk. It cannot guarantee profit, or fully protect in a down market.
[cd_fund-fees] Exchange Traded Funds (ETFs): Investors should carefully consider the information contained in the prospectus, which contains the Fund’s investment objectives, risks, charges, expenses, and other relevant information. You may obtain a prospectus from the Fund company’s website or by email customer service at [email protected]. Please read the prospectus carefully prior to investing.
Shares of ETFs must be bought and sold at market price, which can vary significantly from the Fund’s net asset value (NAV). Investment returns are subject to market volatility and shares may be worth more or less their original value when redeemed. The diversification of an ETF will not protect against loss. An ETF may not achieve its stated investment objective. Rebalancing and other activities within the fund may be subject to tax consequences.
Claw Promotion: Customer must fund their Active Invest account with at least $10 within 30 days of opening the account. Probability of customer receiving $1,000 is 0.028%. See full terms and conditions.
An investor should consider the investment objectives, risks, charges, and expenses of the Fund carefully before investing. This and other important information are contained in the Fund’s prospectus. For a current prospectus, please click the Prospectus link on the Fund’s respective page. The prospectus should be read carefully prior to investing. Alternative investments, including funds that invest in alternative investments, are risky and may not be suitable for all investors. Alternative investments often employ leveraging and other speculative practices that increase an investor’s risk of loss to include complete loss of investment, often charge high fees, and can be highly illiquid and volatile. Alternative investments may lack diversification, involve complex tax structures and have delays in reporting important tax information. Registered and unregistered alternative investments are not subject to the same regulatory requirements as mutual funds. Please note that Interval Funds are illiquid instruments, hence the ability to trade on your timeline may be restricted. Investors should review the fee schedule for Interval Funds via the prospectus.
Are you looking for the best low stress jobs? If you currently dread going to work and are looking for something new, here’s where to start. If your current job is too stressful, you may be thinking about switching to something less intense. Lots of jobs pay well without making you feel anxious or burned…
Are you looking for the best low stress jobs? If you currently dread going to work and are looking for something new, here’s where to start.
If your current job is too stressful, you may be thinking about switching to something less intense. Lots of jobs pay well without making you feel anxious or burned out all the time.
Whether you’re making online content, helping people get fit as a personal trainer, or organizing medical records, there are many options for a job that helps you stay calm and relaxed.
Recommended reading: 40 Best Jobs Where You Work Alone
Best Low Stress Jobs
There are many low stress jobs listed below. If you want to skip the list, here are some jobs that you may want to start learning more about first:
Below are the best low stress jobs.
Note: While these jobs are low stress for some, they may not be for all. There may be a certain aspect of it that may make it low stress for you, such as being able to work alone, being able to work from home, having a flexible schedule, or doing something that you enjoy. But, nearly all jobs have some sort of stress that is a part of the job, so that is something to keep in mind. And, that doesn’t mean that these jobs are easy. Many of the jobs below are still quite difficult, requiring schooling (even getting your doctorate degree!) and hard work.
1. Blogger
If you enjoy writing and sharing ideas, becoming a blogger might be the perfect low stress job for you.
As a blogger, you have the freedom to create content on topics that interest you. Whether it’s personal finance, cooking, travel, tech, or any hobby, your blog is a space to express yourself.
I started my blog, Making Sense of Cents, in 2011 without much planning. I just wanted to talk about my own experiences with money. Surprisingly, since then, I’ve made over $5,000,000 from it. And now, blogging is my main job!
I really enjoy being able to blog full-time, and it’s much less stressful than the previous day job I had. But, it is still running my own business, so there are other stresses that come along with that, of course.
But, there are many positives as well! I can work alone, I get to make my own schedule, I am my own boss, I get to do the work that I choose to do, and I can work from home. I have an amazing work-life balance, and I wouldn’t trade this job for anything else.
So, what’s a blog? Well, it’s like what you’re reading now – it’s writing on a website. You can write a blog about something you really like, something you know a lot about, or even something you want to learn more about. People like to read blogs because they get to follow along with someone’s real experiences and journeys!
You can learn how to start a blog with my free How To Start a Blog Course (sign up by clicking here).
2. Sell printables
Selling digital printables online is a great way to work from home with less stress and make money.
Creating printables can be a less stressful job because you only need to make one digital file for each product, and then you can sell it many times. It’s also not expensive to start because all you need is a laptop or computer and an internet connection.
Plus, you can do all of this from home and on your own time.
Printables are things you can get on the internet and print at home. They could be games for a bridal shower, lists for groceries, planners for managing money, invites for events, quotes you can hang on your wall, or designs you can use for crafting.
I recommend signing up for Free Training: How To Earn Money Selling Printables. This free workshop will give you ideas on what types of printables you can sell, how to get started, the costs of starting a printables business, and how to make money.
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. Bookkeeper
Bookkeepers handle money matters for businesses, and they write down sales, keep track of expenses, and create financial reports.
This job allows you to work independently, earning a typical salary of $40,000 or more each year. You’ll mainly work with numbers instead of interacting with people.
Many bookkeepers like their jobs because they work regular hours and don’t have as much pressure as some other jobs.
You don’t need a college degree to start as a bookkeeper either. This is something that you can learn to get started, as there are no education requirements.
You can join the free workshop that focuses on finding virtual bookkeeping jobs and how to begin your own freelance bookkeeping business by signing up for free here.
Recommended reading: How To Find Online Bookkeeping Jobs
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This free training will teach you what you need to know to become a virtual bookkeeper and make money from home.
4. Proofreader
If you already enjoy reading articles or books and spotting errors, then you may find this job interesting.
A proofreader’s main task is to read content and look for mistakes in spelling, grammar, and punctuation. They’re the last line of defense, ensuring that everything reads perfectly before it goes out into the world. Many proofreaders enjoy the flexibility this job has, as they can often set their own hours and work from where they feel most comfortable.
Many writers, website owners, and students hire proofreaders to improve their work. There’s a big demand for proofreaders, and you can find jobs on different sites.
Even the best writers can make errors in grammar, punctuation, and spelling. That’s why hiring a proofreader can be extremely helpful for almost everyone.
In fact, I have a proofreader for my blog. Even though I write all day long, I know that it is very important to have a proofreader go through everything that I write.
If you want to become a proofreader, I recommend joining this free 76-minute workshop focused on proofreading. In this workshop, you’ll learn how to begin your own freelance proofreading business.
Recommended reading: 20 Best Online Proofreading Jobs For Beginners (Earn $40,000+ A Year).
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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.
5. Transcriptionist
Transcriptionists listen to recordings and type out what they hear.
Becoming a transcriptionist is a low stress job if you’re looking for flexibility in terms of work schedules and the comfort of working from your own space.
Online transcriptionists typically earn between $15 to $30 per hour on average, with new transcribers usually starting at the lower end of that range.
A helpful free training to take is 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 Online Transcription Jobs For Beginners To Make $2,000 Monthly
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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.
6. Software developer
A software developer is a person who designs, creates, tests, and keeps up software applications, systems, and programs. They’re good at programming languages and frameworks, using their skills to make solutions that meet specific needs or solve problems.
Software developers work in different fields like technology, finance, healthcare, and entertainment. They work with other team members like designers, engineers, and project managers to finish software projects well and meet the needs of users.
I know many software developers who enjoy what they do. While it is a hard job, many of them are able to work from home, travel whenever they want, and they tend to enjoy solving complex technical issues.
Other less stressful jobs in a related field include becoming a computer systems analyst, software architect, computer hardware engineer, and web developer. For these jobs, you may need a bachelor’s degree in software engineering, computer science, or a related field.
7. Massage therapist
If you’re looking for a stress-free job that lets you help others, think about being a massage therapist. Massage therapists use their hands to ease pain, help people relax, and help people feel less stressed.
Massage therapy might be a little less stressful for you because the atmosphere at work is usually calm (after all, that’s why people are going there – to relax!), and you don’t bring work home with you (so, no late night phone calls from clients!).
Massage therapists usually work in places like spas, wellness centers, or chiropractic clinics. Some may also have their own private businesses or have mobile services, which lets them have a more flexible schedule and be their own boss.
To become a massage therapist, you will need to go to school for massage therapy and pass a state exam. This typically takes around 6 months to 2 years to complete (it depends on the state you live in).
8. Personal trainer
Personal trainers help people with their fitness and being more healthy, which can mean creating workout plans, motivating them to work out, or showing the right way to lift weights.
Personal trainers work in a gym, hospital, or even go solo as a freelancer.
This job has some flexibility, which is something that many personal trainers like. You get to choose who you train, where you work, and when you have sessions. Plus, you’re not stuck at a desk all day, which keeps things fresh and fun.
9. Dental hygienist
Dental hygienists clean teeth, check for things like cavities or gum disease, and teach patients the best ways to brush and floss.
You can start this career with an associate’s degree, which usually takes about two years to finish. Plus, you may be able to make over $75,000 a year as a dental hygienist.
10. Medical records technician
If you’re in the job search for low stress jobs in healthcare, then becoming a medical records technician may be for you.
Medical records technicians handle health information data, and they make sure that all the records (both electronic health records and paper files), such as patient history, test results, and treatments, are accurate, accessible, and secure.
It’s low stress because, unlike some roles in medicine, you won’t be on the front lines dealing with emergencies. Your work environment is typically calm, allowing you to focus on your tasks without the pressure of patient care.
To become a medical records technician, you typically only need a high school diploma, but some employers may want to see a certificate related to the field or higher education.
11. Optometrist
An optometrist is an eye doctor who helps people see better. They check your eyes, find out if you need glasses, and help keep your eyes healthy.
You may like being an eye doctor because:
You usually work regular hours. People don’t typically have optometrist emergencies.
The pay is great.
It’s usually a relatively calm job.
Plus, according to the Bureau of Labor Statistics, the median salary for optometrists is over $125,000 a year, and there is expected to be a 9% job growth outlook over the next decade.
12. Physicist
Physicists study the laws and principles that govern the universe, like gravity and motion, and how they apply to everyday life.
Most physicists work in research and development. Some work in offices, while others spend time in laboratories. There are also those who teach at universities.
The job comes with a reasonable stress level, as physicists frequently engage in deep thinking rather than dealing with tight deadlines or high-stress situations, and they typically conduct research. This can make for a fulfilling and low-pressure work environment if you enjoy physics.
To be a physicist, you will likely need a Ph.D. That means a lot of school, but it’s worth it if you love science and discovery.
13. Statistician
Being a statistician might be a perfect choice for your career if you love numbers and data.
Statisticians analyze data and identify patterns, such as by taking a bunch of numbers and turning them into useful information that companies can use to make decisions. Statisticians also might collect data from surveys and experiments.
Statisticians usually have pretty regular hours and it’s normally a quiet place to work, so you can focus just on your tasks without a bunch of noise. Plus, it’s not a job that is typically rushed, so you can take your time.
14. Mathematician
If you love numbers and problems that make you think, a related field to the above may be becoming a mathematician.
Mathematicians use mathematics to unravel patterns and address significant questions.
Mathematicians are needed in many different fields like academia, government, finance, and technology.
In academia, they work as professors and researchers, studying both theoretical and practical math ideas. Government agencies like NASA and the NSA hire mathematicians for jobs like exploring space and analyzing statistics. Financial companies hire mathematicians to make algorithms for things like evaluating risk, pricing items, and creating trading strategies. Also, big tech companies like Google and Microsoft use mathematicians to develop algorithms and analyze data.
15. Librarian
Becoming a librarian is a great job for someone who likes quiet places and books.
Being a librarian is not just about checking out books. It’s a role that’s all about helping people find information and enjoy reading.
Your main job as a librarian would be to help people find the books or online resources they need. You also get to put together fun programs, like story time for kids or book clubs. Keeping the library in tip-top shape is part of your work too, like putting books back on the shelves, managing schedules for employees and volunteers, and making sure everything is where it belongs.
Libraries are usually calm and quiet, which can make it stress-free for you. This makes your workplace quite relaxing, which is great if loud and busy spots make you feel stressed. Plus, you get to have a regular schedule.
Most librarian jobs need a bachelor’s degree at the minimum and sometimes, you will most likely need a master’s degree in library science (MLS) from an accredited program.
Librarians work in many places, such as public libraries, schools, law firms, universities, and more.
16. Orthodontist
One of the best high-paying jobs for people who don’t like stress is becoming an orthodontist.
An orthodontist is a specialized dentist who focuses on fixing teeth and jaw alignment problems. They help patients get straighter smiles and better oral health using treatments like braces, clear aligners, and retainers.
Orthodontists get extra training after dental school to become experts in diagnosing and treating issues like misaligned bites and other dental problems.
By carefully checking each patient, orthodontists make personalized plans to straighten teeth properly, leading to better-looking smiles and improved function of the teeth and jaws.
Being an orthodontist can be pretty low stress since they usually have a set schedule, seeing patients for regular appointments instead of dealing with sudden dental emergencies.
17. Groundskeeper/gardener
Becoming a groundskeeper or a gardener could be a great fit for you if you like being outside and want a stress-free job. You get to work with plants and make outdoor spaces look beautiful. This job is perfect if you’re looking for something that lets you enjoy fresh air and doesn’t have you sitting at a desk all day.
Here are some things that a groundskeeper or gardener may do:
Take care of plants and grass by watering, weeding, and trimming.
Make sure gardens look neat and are healthy.
Sometimes work with tools and machines, like lawn mowers and trimmers.
Shovel snow or take care of indoor plants.
This is one of the best low stress jobs because it is usually quiet, which makes it great for people who get overwhelmed by noisy places.
Recommended reading: 15 Outdoor Jobs For People Who Love Being Outside
18. Audiologist
Audiologists help people with their hearing, and this includes testing hearing, picking out hearing aids, and teaching people how to use them.
This is typically a low stress career choice because you get to work in an office and do similar tasks each day. You are not usually rushing around, instead you have a lot of calm one-on-one time with patients.
Audiologists work in different places like hospitals, clinics, private practices, schools, and research institutions.
19. Pet sitter
Becoming a pet sitter is a great job if you like animals and enjoy caring for them. This is a job that doesn’t typically have a lot of stress because it is not fast-paced. Plus, if you like pets, then you probably enjoy being around them, which can make the job fun.
A pet sitter’s main job is to look after pets while their owners are away. This might mean feeding them, giving them water, and playing with them. It’s important to make sure the pet feels happy and safe when their owner isn’t home.
You might have pets come to your home, or you can go to their owners’ place (this is something that is agreed upon beforehand). Dog walkers typically earn around $20 for every hour they spend walking a dog. Taking care of someone’s pet overnight can earn a person around $25 to $100 or even more each day.
I have used many pet sitters over the years for my dogs, and they all seemed to love what they do. Plus, my mother-in-law is a pet sitter as well, and she enjoys her time with the dogs that she takes care of.
20. Stock photo photographer
Stock photo photographers take photos of things like people, businesses, animals, and more, and sell them for other people to use.
Stock image sites are some of the most popular platforms for photographers to sell their pictures. These websites allow customers to purchase images for purposes such as websites, TV shows, books, and social media accounts. You can take a look at some of the stock photos I’ve purchased within this blog post as examples.
Stock photo photographers typically work by themselves, and this job can be done without much interaction with others. Most of the tasks involve using a camera and then uploading photos to a website.
As a stock picture photographer, you get to set your own schedule. This means you can choose when and where you work.
One great thing about stock photo sites is that they can be a great form of passive income. You can take pictures, upload them, and continue to earn money from those photos for months or even years into the future. Since everything is online and mostly automated, there’s no need to talk with anyone directly.
Recommended reading: 18 Ways You Can Get Paid To Take Pictures
21. Freelance writer
Freelance writers create content for clients, including blog posts, advertising materials, and more.
It’s common for freelance writers to work independently, receiving topics from clients and submitting their completed work. Occasionally, they may receive feedback, such as suggestions for improvement, but this is usually the extent of human interaction they’ll have.
This is one of the best low stress jobs from home where you work alone.
I have been a freelance writer for many years and I enjoy this job a lot. I get to work from home, make my own hours, work alone, and choose the topics that I write about.
Recommended reading: 14 Places To Find Freelance Writing Jobs As A Beginner
22. Graphic designer
A graphic designer is someone who creates designs for individuals and businesses.
They create things such as images, printables, planners, T-shirt designs, calendars, business cards, social media graphics, stickers, logos, and more.
Graphic designers tend to have the freedom to set their own schedules, especially if they work as a freelancer. This job allows you to work at your own pace, and most of the time, you don’t have to deal with rush hour traffic or crowds since a lot of graphic designers can work from home.
23. Hairstylist
We’ve all been to a hairstylist, so I don’t think I need to describe this job too, too much. Hairstylists cut, style, and take care of hair.
Hair styling is lower stress because you work with clients in a relaxed setting. Also, you don’t have to sit at a desk all day – you move around and talk with people.
Plus, you can set up your day the way you like it. If you want, you can take breaks between clients. This means you won’t feel rushed and can enjoy your work more.
24. Social media manager
Social media managers engage with people online and share news, pictures, and videos on behalf of a company.
You may find this to be a low stress job because you mostly type on a computer or phone as a social media manager. So, if talking in front of people makes you nervous, this could be the perfect job. Plus, you can often work from home.
25. Virtual assistant
One of my first side gigs was working as a virtual assistant, and it was both enjoyable and flexible for earning income.
While you have a boss as a VA, many of the tasks you handle will require you to take the lead and complete them independently, usually from your own home.
A virtual assistant is someone who assists people with office tasks remotely, whether from home or while traveling. This could involve tasks such as responding to emails, scheduling appointments, and managing social media accounts.
Recommended reading: Best Ways To Find Virtual Assistant Jobs
26. Litter cleanup worker
This is one of the least stressful jobs.
If you have a business, it’s important to keep it clean and neat. No one likes seeing trash scattered about when they’re shopping, correct?
That’s why some business owners pay someone to tidy up before their business opens. A clean space makes the place look inviting and pleasant for customers.
This low stress job without a degree can be started all by yourself, and you can earn around $30 to $50 for every hour you work. It’s quite straightforward too. All you’ll need is a broom, a dustpan, and some tools to help you pick up litter more easily.
People like this job because they can work alone and it’s easy to clean an area up.
Recommended reading: How I Started A $650,000 Per Year Litter Cleanup Business
27. Economist
Economists examine how goods and services are made, shared, and used within an economy. They use different tools, like math and stats, to grasp and predict economic patterns and actions.
Economists might work for the government, giving advice to policymakers on things like money policies and taxes. They also help businesses by explaining market trends, so they can make good decisions about prices, production, and investments.
A somewhat related field to this would be becoming an economics professor.
28. Astronomer
Astronomers study objects and events in space beyond Earth’s atmosphere, like stars, planets, galaxies, and cosmic happenings such as black holes and supernovas.
They use a mix of observations, data analysis, and theoretical models to learn about the origins, changes, and behaviors of these objects. Astronomers usually use advanced telescopes, both on the ground and in space, to observe and gather data from far-off parts of the universe.
They also work with physicists, mathematicians, and engineers to create new technologies and tools for exploring space. Through their work, astronomers help us understand big questions about the universe, like how old it is, what it’s made of, and what will happen to it in the future.
Unlike many jobs, being an astronomer means regular hours with few surprises. Plus, the quiet of a lab or observatory is perfect for staying focused and calm.
29. Actuary
Actuaries assess and handle financial risks by using math and stats to analyze data and forecast future events.
They mainly work for insurance companies, pension funds, and financial consulting firms. Actuaries examine how likely events like death, illness, accidents, and natural disasters are to happen, and what impact they could have on insurance policies and pension plans.
Based on their analysis, they help create insurance policies, decide on premiums, and suggest investment plans to make sure these financial products stay stable and have enough coverage for customers.
If you enjoy numbers and are looking for a job that’s pretty easy on stress, becoming an actuary could be a smart move. Actuaries help businesses look into the future and protect against loss.
30. Radiologist
If you’re interested in a career in the medical field that is both high-paying and considered to have lower stress, you might want to think about becoming a radiologist.
Radiologists specialize in diagnosing and treating diseases and injuries using medical imaging techniques like X-rays, CT scans, MRI scans, ultrasound, and nuclear medicine. They analyze images to find any abnormalities and give detailed reports to other doctors, helping with patient diagnosis and treatment plans.
Radiologists work closely with other healthcare professionals to make sure they understand the imaging results and can provide the best care for patients.
31. Data entry clerk
Data entry is one of the easiest low stress jobs without a degree needed.
Data entry clerks input, edit, and verify data in databases or spreadsheets. They enter details like numbers and names into computers to maintain organization and records.
This job can often be done remotely and independently, with little supervision or interaction with customers. For some people, this is key to having a stress-free job, and I completely get it – this is what I want as well!
Data entry positions generally pay around $15 to $20 per hour.
Recommended reading: 15 Places To Find Data Entry Jobs From Home
32. Yoga instructor
If you love helping others relax and stay fit, being a yoga instructor could be the perfect job for you if you want to find fun low stress jobs.
Yoga instructors lead classes and sessions in practicing yoga, a holistic discipline involving physical postures, breathing exercises, relaxation techniques, and meditation.
They help students through different yoga poses, focusing on correct alignment, breath control, and mindfulness. Yoga instructors create a welcoming environment where students of all levels can explore and improve their practice.
33. Dietitian
A dietitian talks to clients about their eating habits and helps figure out the best way to eat healthy.
Being a dietitian is usually not too stressful. You get to chat with people one-on-one or in small groups. You don’t have to rush around or handle dangerous equipment.
They can work in places such as hospitals, clinics, schools, community health centers, and food service establishments.
Frequently Asked Questions
Below are answers to common questions about how to find low stress jobs.
What’s the least stressful job?
The least stressful job will depend on your personality, as everyone is different. Some less stressful jobs include writing online, gardening, selling printables, and data entry. For me, I really like blogging, and I think it’s a great stress-free career that you can do at home.
How do I find a peaceful job?
If you want a peaceful job that doesn’t have a lot of stress, then I recommend first thinking about what you would find peaceful in a career, such as by looking for jobs with fewer deadlines and less contact with lots of people. Jobs where you can set your own pace, like a blogger or a freelancer, tend to have a peaceful workday. Think about what makes you feel calm, and then look for jobs that match that feeling.
What job is the easiest and pays the most?
Some jobs that are pretty easygoing and also pay well include orthodontist and optometrist. These jobs usually have regular hours and don’t need you to rush around. Plus, they pay more than enough to help you save for those things you love to buy.
What types of work-from-home jobs are low stress?
Working from home can be really laid back when you’re doing something like freelance writing, blogging, transcribing, or graphic design. You can pick the jobs you want and work when it suits you best.
What are the best low stress jobs for introverts?
If you’re quiet or introverted, then you might be interested in jobs where you can work solo or with just a few people. Jobs like a bookkeeper, transcriptionist, or data entry let you focus on your work without having to talk to many people.
What are high-stress jobs?
Some of the most stressful jobs include being a nurse, police officer, surgeon, social worker, anesthesiologist, firefighter, lawyer, airline pilot, paramedic, and in the military.
Best Low Stress Jobs – Summary
I hope you enjoyed this article on the best low stress jobs.
Nowadays, people are realizing how important it is to balance work and personal life and to take care of their mental health while lessening their anxiety about work. Some occupations, like software development and data entry, have this balance and a sense of calm.
Professionals such as dental hygienists, librarians, and dietitians also enjoy low stress roles with predictable schedules.
You don’t have to give up peace of mind to have a career. By thinking about what you’re good at and what you enjoy, you can find jobs that meet your goals while keeping stress levels low.
For me, I personally love having a career that has low stress. While it is still hard, I love that I can work from home, choose the work I do, and have a flexible schedule – all things that help me be less anxious and happier about the work that I do.
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.
The concept of new vs. old wealth did not exist until fairly recently in human history; before that, most people could not have even imagined that they were one or the other kind of person simply because there was no such thing as cash!
Typically, old money is people with a lot of resources who are looking to pass on what they have in order to secure their future. New money, on the other hand, comprising mostly or exclusively by entrepreneurs starting from scratch.
The concept of old money vs new money has been around since the 1920s -yet many people have not given much thought to the concept.
Since most people feel like they will never belong in either group of people – old money or new money.
Are you interested in the concept of old money, but need to make it happen with new money? There are many reasons why you should give both styles of money a chance.
Over time, old money becomes new money.
A lot of people are fascinated with the idea of becoming independently wealthy quickly, right! But, what about those who want to become wealthy gradually? It takes time for old money to become new money.
There is a lot of discussions these days about the old and new money.
When you’re trying to make a big change in your life and start to build your own wealth, it can be difficult.
In order for the change to stick and grow into something more permanent, there are many steps that must take place. Lessons learned from old money.
If you are looking to improve your finances, then this post will help spark some inspiration!
What is Old Money?
The definition of “old money” is describing a social class of people we consider members of the upper class in society. This type of old money has been around for centuries and can be traced back to previous generations.
Old money is a wealth passed down from one family generation to another.
It is not “new,” and old money is a result of work that has made their first generations wealthy.
However, many people do not know about the qualities of old money because they may have been brought up as “old” money is only for a select few.
In today’s society, it is easy to identify someone as having old money because they are typically wealthy and have descended from many generations. You may look down on those who have old money for being “old-fashioned” or not “progressive” enough or just “trust fund” babies. This is a misconception.
Many of those with old money carry the wealth that has been given to them by their ancestors with dignity, insightfulness, and grace. Even when others lost everything due to greediness, they were able to withstand time periods of economic hardship.
Old Money tends to be more generous and kind than new money, which is often seen as selfish.
You can look at families such as the Vanderbilts or even the Rockefellers as old money passed down from generation to generation.
Even in Europe, the term “old money” associates with wealthy families. These families have been able to keep the wealth and power that they have passed down from generation to generation, as well as the pride of their heritage.
What is New Money?
New money is the self-made wealthy people in the world who have made it big.
New money is the recent abundance of money that has created their wealth.
It is new to them, and it took a lot of time for them to get where they are.
New money refers to self-made millionaires of the world, such as Jeff Bezos, Steve Jobs, and Mark Zuckerberg. They are rich because they were able to create a product or service that would go on to be one of the most popular products in their respective markets and quickly become successful.
Most of the new money is mainly found in occupations like technology, sports, and entertainment. These self-made millionaires of the world are entrepreneurs and innovators who have helped shape our society as we know it today.
Many of these people may have grown up poor or broke without extra money for anything. They did not have the support of old money to help them find success.
However, today, they can show that they have a lot of money.
What is the difference between old money and new money?
New money is made recently, whereas old money is made by previous generations in years prior.
Beyond that, there are some notable differences of old money vs new money behavior.
Chance to Make New Money
The biggest difference between new and old money is that new money has a lot of competition, which means there are many more opportunities to earn it.
You can make new money today.
You cannot change your heritage and family’s ability to pass down old money and wealth to you.
This is great for those with an entrepreneurial spirit. They can start to build wealth today.
Wealth Source
New money is self-made and old money is inherited.
Old and new money can be differentiated by who created the wealth.
You have old money if you inherited something from your parents or grandparents. Inheritance is when one person or business transfers part of its assets to another person at the time of death.
Earned wealth is the result of an individual’s effort and hard work, which is seen in the person’s bank account. Creating new money happens in your lifetime.
You are able to pass down that wealth and then, it becomes old money.
Tolerance for Risk
Old-money investors typically do not take on risks. So, they would not invest in something that has a 50-50 chance of working out. That’s why old money is safer than new money because it has a much lower risk factor.
Old-money investors typically invest in things they know will work out such as real estate, long-term investing, or other businesses.
New money takes on a lot of risks because you cannot rely on it as much as you would with old-money investments.
New money investors are starting from zero with nothing. They have much less to risk and the reward is much higher.
Social Perception
New money is not as elitist as old money.
People’s perception of old money is different from new money.
Old money has an attached stigma to the lifestyle they must maintain. In the United States, old wealth is more respected than recent wealth. This idea comes from the social perception of those who are wealthy for a long time and are able to maintain their status with ease.
People who come from lower-class societies often will have a hard time being accepted into high society. Thus, why old money and new money collide on many hot topics.
New money entrepreneurs may grow up poor and end up in a higher class than their parents. However, they may still be looked down on by those of Old Money because they grew through grit and ingenuity.
Differences in Spending Habits
The difference in spending habits between each group is not just limited to the amount of money they spend. Not only do different people have different tastes and needs, but there are also differences in how much people are willing to spend on certain items.
For example, there is a difference between people who buy luxury goods and those who don’t, but both groups could have the same amount of income.
There are many differences in spending habits between old money families and new money.
However, it is important to understand that they do not have a direct correlation with success or financial status.
For old money, they tend to be willing to spend money to uphold an appearance and a certain lifestyle. Yet, they are careful to make sure the family money can be passed on for generations.
Whereas, new money has wildly different spending habits. Some are frivolous with their money because they have waited so long for the opportunity and know they can always make it back again. Others are more hesitant to spend because they worked too hard to get where they are at today.
When does New Money become Old Money?
There is no clear line between old and new money, but the comparison still has value because there is still enough generational wealth to draw from.
The transition from new money to old money happens when the generational wealth is passed down.
The perception of old money was made in the early 1900s. In fact, old money is just wealth passed down and lasts another generation.
The hardest part for new money to become old money is teaching the younger generations how to manage their newfound wealth.
In addition, the common “new money” folks with net worth of over $2 million may not have the right advisors like the billionaires to properly transfer their wealth to future generations and start to build the old money way of life.
Do you know what 10 figures in money is?
Old Money vs New Money Examples
The easiest way to differentiate between old and new money is that old money is inherited from the older generation while new money is created by the current generation.
Old Money has the privilege of being passed down for generations, giving it a sense of stability and security.
New Money comes with its own set of challenges in terms of debt, lack of legacy, and lack of time-tested investment strategies for saving or spending.
New-Age millionaires are self-made wealthy families with new money, making up a large percentage of the wealthiest Americans. These people tend to be more frugal than old-money families who may have been successful for generations and acquired their wealth in the past without much effort. The current generation is acquiring its own lavish lifestyles rather than relying on inheritance. New money families are considered “new entrants” into an exclusive club for old money family members and can feel like they’re being left out due to their lack of legacy.
There are many reasons to give old money a chance, including the fact that it is more likely to be passed down than new money.
Old money is inherited while new money is created by the current generation. Old families are seen to be more educated and refined. In addition, they tend to spend less on luxuries because they know the next generation will have their hands full with managing their possessions.
Old Money is seen to be more classy than New Money.
Accordingly, Old Money families are considered a higher class, with roots going back centuries and attributed to industrialists from a previous era of wealth creation.
Why Take on an Old Money Mentality with New Money
There are many reasons why you should give “old money” a chance. Even if you were not born into inherited wealth, there are plenty of lessons to learn and pass along to your family.
Reason #1 – Financially Stable
First, the people who have old money are usually more financially stable and will be able to help out when times get tough.
They are taught how to be wise with money.
Learn if you embody one of the 32 habits of financially stable people.
Reason #2 – Life Experiences
Second, old money people are more knowledgeable and worldly than new money. They have a wealth of knowledge about the world and will be able to share it with you when hanging out with someone who is new money.
With old money, they have the resources to provide a higher level of education as well as travel to many countries.
However, you do not need money to do experience life to the fullest. One of the best ways to find immeasurable life experiences is to volunteer either locally or globally.
Reason #3 – Financial Safeguards
Third, old money people are more financial safeguards in place than new ones. So, they never worry about being broke or homeless due to the fact that they were born into wealth and their parents passed it down to them.
You can accomplish this with new money as well.
You must create financial safeguards to make sure a sizable chunk of your wealth is making a passive income. Thus, providing for your needs as well as your heirs for many years to come.
This is where a strong financial plan of how to transfer assets to the next generation is needed.
Reason #4 – Giving Back
Fourth, old money people usually give back more frequently than new money. As such, you can find many places with old money names on the building.
Here are some examples of what old money and new money can do:
– Give opportunities for young entrepreneurs
– Help create jobs and is an important part of the economy
– Give people a voice who don’t have many opportunities.
-Create funding for social projects that are beneficial to society
Reason #5 – Transfer Inherited Wealth
Lastly, there is something special about being able to pass down generational wealth.
This is something that comes with a lot of responsibility as you must teach your heirs how to manage money wisely.
However, you can build a lasting legacy beyond your own life.
Ready to Build New Money Wealth?
Money in the 1920s is much different than today.
Old money is usually inherited wealth or obtained through family connections. As technology increases, new money is replaced old money. However, when you look at industries like real estate where there’s not a lot of room for new money, it may be a good idea to give old money habits a chance.
When you give old money a chance in life, you will learn how much time-tested wisdom there really is behind these worldly possessions and riches.
Just because you want old money or new money, it does not greedy or extravagant. It means you know the value of a dollar and want the best for your family.
Embrace one of the many important habits of those with a background of wealth.
But the truth is, nobody likes the idea of talking about money, especially when it involves inherited wealth. So, have discussions today about long-term money decisions.
At the end of the day, it is more important to appreciate family ties over material possessions since they will last longer than any other form of wealth.
Old money offers wisdom to help new money avoid making the same mistakes.
The old money vs new money style is here to stay.
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.
Inside: Learn what 29 an hour is how much a year, month, and day. Plus tips to budget your money. Don’t miss the ways to increase your income.
You’re probably wondering if I made $29 a year, how much do I truly make? What will that add up to over the course of the year when working? Is $29 an hour good?
Is this wage something that I can actually live on? Or do I need to find ways that I can increase my hourly wage? How much more is $29.50 an hour annually?
When you finally start earning $29 an hour, you are happy with your progress as an hourly employee. Typically, this is when many hourly employees start to become salaried workers.
In this post, we’re going to detail exactly what $29 an hour is how much a year. Also, we are going to break it down to know how much is made per month, bi-weekly, per week, and daily.
That will help you immensely with how you spend your money. Because too many times the hard-earned cash is brought home, but there is no actual plan for how to spend that money.
By taking a step ahead and making a plan for the money, you are better able to decide how you want to live, make sure that you put your money goals first, and not just living paycheck to paycheck struggling to survive.
The ultimate goal with money success is to be wise with how you spend your money.
If that is something you want too, then keep reading. You are in the right place.
$29 an Hour is How Much a Year?
When we ran all of our numbers to figure out how much is $29 per hour is as an annual salary, we used the average working day of 40 hours a week.
40 hours x 52 weeks x $29 = $60,320
$60,320 is the gross annual salary with a $29 per hour wage.
As of June 2023, the average hourly wage is $33.58 (source).
Let’s Break Down Of 29 Dollars An Hour Is How Much A Year
Typically, the average workweek is 40 hours and you can work 52 weeks a year. Take 40 hours times 52 weeks and that equals 2,080 working hours. Then, multiply the hourly salary of $29 times 2,080 working hours, and the result is $60,320.
That number is the gross income before taxes, insurance, 401K, or anything else is taken out. Net income is how much you deposit into your bank account.
That is slightly above the $60000 salary threshold, which is desired to become middle-income worker.
Work Part Time?
But you may think, oh wait, I’m only working part time. So if you’re working part time, the assumption is working 20 hours a week at $29 an hour.
Only 20 hours per week. Then, take 20 hours times 52 weeks and that equals 1,040 working hours. Then, multiply the hourly salary of $29 times 1,040 working hours, and the result is $30,160.
Just over $30000 a year.
How Much is $29 Per Month?
On average, the monthly amount would average $5,027.
Annual Amount of $60,320 ÷ 12 months = $5,027 per month
Just over $5000 a month.
Since some months have more days and fewer days like February, you can expect months with more days to have a bigger paycheck. Also, this can be heavily influenced by how often you are paid and on which days you get paid.
Plus by increasing your wage from $24 an hour, you average an extra $867 per month. So, yes a few more dollars an hour add up!
Work Part Time?
Only 20 hours per week. Then, the monthly amount would average $2,513.
How Much is $29 per Hour Per Week
This is a great number to know! How much do I make each week? When I roll out of bed and do my job, what can I expect to make at the end of the week?
Once again, the assumption is 40 hours worked.
40 hours x $29 = $1,160 per week.
Work Part Time?
Only 20 hours per week. Then, the weekly amount would be $580.
How Much is $29 per Hour Bi-Weekly
For this calculation, take the average weekly pay of $1,160 and double it.
$1,160 per week x 2 = $2,320
Also, the other way to calculate this is:
40 hours x 2 weeks x $29 an hour = $2,320
Work Part Time?
Only 20 hours per week. Then, the bi-weekly amount would be $1,160.
How Much is $29 Per Hour Per Day
This depends on how many hours you work in a day. For this example, we are going to use an eight-hour workday.
8 hours x $29 per hour = $232 per day.
If you work 10 hours a day for four days, then you would make $290 per day. (10 hours x $29 per hour)
Work Part Time?
Only 4 hours per day. Then, the daily amount would be $116.
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.
$29 Per Hour is…
$29 per Hour – Full Time
Total Income
Yearly Salary (52 weeks)
$60,320
Yearly Wage (50 weeks)
$58,000
Monthly Salary (173 hours)
$5,027
Weekly Wage (40 Hours)
$1,160
Bi-Weekly Wage (80 Hours)
$2,320
Daily Wage (8 Hours)
$232
Net Estimated Monthly Income
$3,834
**These are assumptions based on simple scenarios.
Paid Time Off Earning 29 Dollars an Hour
Does your employer offer paid time off?
As an hourly employee, you may or may not get paid time off.
So, here are the scenarios for both cases.
For general purposes, we are going to assume you work 40 hours per week over the course of the year.
Case # 1 – With Paid Time Off
Most hourly employees get two weeks of paid time off which is equivalent to 2 weeks of paid time off.
In this case, you would make $60,320 per year.
This is the same as the example above for an annual salary making $29 per hour.
Case #2 – No Paid Time Off
Unfortunately, not all employers offer paid time off to their hourly employees. While that is unfortunate, it is best to plan for less income.
Life happens. There will be times you need to take time off for numerous reasons – sick time, handling an emergency, or even vacation.
So, let’s assume you take 2 weeks off without paid time off.
That means you would only work 50 weeks of the year instead of all 52 weeks. Take 40 hours times 50 weeks and that equals 2,000 working hours. Then, multiply the hourly salary of $29 times 2,000 working hours, and the result is $58000 per year.
40 hours x 50 weeks x $29 = $58,000
You would average $232 per working day and nothing when you don’t work.
$29 an Hour is How Much a year After Taxes
Let’s be honest… Taxes can take up a big chunk of your paycheck. Thus, you need to know how taxes can affect your hourly wage.
Also, every single person’s tax situation is different.
On the basic level, let’s assume a 12% federal tax rate and a 4% state rate. Plus a percentage is taken out for Social Security and Medicare (FICA) of 7.65%.
Gross Annual Salary: $60,320
Federal Taxes of 12%: $7,238
State Taxes of 4%: $2,413
Social Security and Medicare of 7.65%: $4,614
$29 an Hour per Year after Taxes: $46,054
This would be your net annual salary after taxes.
To turn that back into an hourly wage, the assumption is working 2,080 hours.
$46054 ÷ 2,080 hours = $22.14 per hour
After estimated taxes and FICA, you are netting $22.14 an hour. That is $6.86 an hour less than what you thought you were paid.
This is a very highlighted example and can vary greatly depending on your personal situation. Therefore, here is a great tool to help you figure out how much your net paycheck would be.
Plus budgeting for under $22 an hour wage is much different.
$29 An Hour Salary Calculator
Now, you get to figure out how much you make based on your hours worked or if you make a wage between $29.01-29.99.
This is super helpful if you make $29.15, $29.45, or $29.81.
Also, if you work various hours other than the standard 40 hours per week. You can adjust to your personal situation.
$29 an Hour Budget – Example
You are probably wondering can I live on my own making 29 dollars an hour? How much rent or mortgage payment can you afford on 29 an hour?
Using our Cents Plan Formula, this is the best-case scenario on how to budget your $29 per hour paycheck.
When using these percentages, it is best to use net income because taxes must be paid.
In this example, above we calculated that $29 an hour was $22.14 after taxes. That would average $3838 per month.
According to the Cents Plan Formula, here is the high-level view of a $29 per hour budget:
Basic Expenses of 50% = $1919
Save Money of 20% = $768
Give Money of 10% = $384
Fun Spending of 20% = $768
Debt of 0% = $0
Obviously, that is not doable for everyone. Even though you would expect your money to go further when you are making double the minimum wage. So, you have to be strategic in ways to decrease your basic expenses and debt. Then, it will allow you more money to save and fun spending.
To further break down an example budget of $29 per hour, then using the ideal household percentages is extremely helpful.
recommended budget percentages based on $29 per hour wage:
Category
Ideal Percentages
Sample Monthly Budget
Giving
10%
$402
Savings
15-25%
$1005
Housing
20-30%
$1,181
Utilities
4-7%
$176
Groceries
5-12%
$385
Clothing
1-4%
$20
Transportation
4-10%
$176
Medical
5-12%
$251
Life Insurance
1%
$15
Education
1-4%
$25
Personal
2-7%
$75
Recreation / Entertainment
3-8%
$126
Debts
0% – Goal
$0
Government Tax (including Income Taxes, Social Security & Medicare)
15-25%
$1,189
Total Gross Income
$5,027
**In this budget, prioritization was given to basic expenses.
Can I Live off $29 Per Hour?
At this $29 hourly wage, you are more than likely double the minimum wage. Things should be easy to live off this $29 hourly salary.
However, it is still slightly above the median income of over $60,000 salary. That means it can still be a tough situation.
Is it doable? Absolutely.
In fact, $29 an hour is higher than the median hourly wage of $19.33 (source). That seems backward, but typically salaried workers earn more per hour than hourly workers.
Can you truly live off $29 an hour annually?
You just have to have the desire to spend less than your income. Plus consistently save.
If you are constantly struggling to keep up with bills and expenses, then you need to break that constant cycle. It is possible to be smart with money.
Your mindset is everything.
This is what you say to yourself… Okay, I have aspirations and goals to increase how much I make. This is the time to start diversifying my income into multiple streams and start investing. I am going to stretch my 29 dollars per hour.
In the next section, we will dig into ways to increase your income, but for now, is it possible to live on $29 an hour?
Yes, you can do it, and as you can see it is possible with the sample budget of $29 per hour.
Living in a higher cost of living area would be more difficult. So, you may have to get a little creative. For example, you might have to have a roommate. Move to a lower cost of living area where rent is cheaper.
Also, you must evaluate your “fun spending” items. Many of those expenses are not mandatory and will break your budget. You can find plenty of free things to do without spending money.
5 Ways to Increase Your Hourly Wage
This right here is the most crucial section of this post.
You need to figure out ways to increase your hourly income because I’m going to tell you…you deserve more. You do a good job and your value is higher than what your employers pay you.
Even an increase of 50 cents to $29.50 will add up over the year. An increase to $30 an hour is a big milestone!
1. Ask for a Raise
The first thing to do is ask for a raise. Walk right in and ask for a raise because you never know what the answer will be until you ask.
If you want the best tips on how specifically to ask for a raise and what the average wage is for somebody doing your job, then check out this book. In this book, the author gives you the exact way to increase your income. The purchase is worth it or go down to the library and check that book out.
2. Look for A New Job
Another way to increase your hourly wage is to look for a new job. Maybe a completely new industry.
It might be a total change for you, but many times, if you want to change your financial situation, then that starts with a career change. Maybe you’re stressed out at work. Making $29 an hour is too much for you and you’re not able to enjoy life, maybe changing jobs and finding another job may increase your pay, but it will also increase your quality of life.
3. Find a New Career
Because of student loans, too many employees feel like they are stuck in the career field they chose. They feel sucked into the job that they don’t like or have the potential they thought it would.
For many years, I was in the same situation until I decided to do a complete career change. I am glad I did. I have the flexibility that I needed in my life to do what I wanted when I needed to do it. Plus I am able to enjoy my entrepreneurial spirit.
4. Find Alternative Ways to Make Money
In today’s society, you need to find ways to make more money. Period.
There is no way to get around it. You need to find additional income outside a traditional nine-to-five position or typical 40 hour a week job. You will reach a point where you are maxed on what you can make in your current position or title. There may be some advancement to move forward, but in many cases, there just is not much room for growth.
So, you need to find a side hustle – another way to make money.
Do something that you enjoy, turn your hobby into a way to make money, turn something that you naturally do, and help others into a service business. In today’s society, the sky is the limit on how you can earn a freelancing income.
Must Read: How to Make Quick Money in One Day: 50 Best Ways to Make Cash
5. Earn Passive Income
The last way to increase your hourly wage is to start earning passive income.
This can be from a variety of ways including the stock market, real estate, online courses, book sales, etc. This is where the differentiation between struggling financially and becoming financially sound.
By earning money passively, you are able to do the things that you enjoy doing and not be loaded down, with having a job that you need to work, and a place that you have to go to. And you still make money doing nothing.
Here is an example:
You can start a brokerage account and start trading stocks for $50. You need to learn and take the one and only investing class I recommend. Learn how the market works, watch videos, and practice in a simulator before you start using your own money.
One gentleman started with $5,000 in his trading account and now has well over $36,000 in 8 months. Just from practice and being consistent, he has learned that passive income is the way for him to increase his income and also not be a slave to his job.
Watch his inspiring story!
Tips to Live on $29 an Hour
In this last section, grasp these tips on how to live on a $29 an hour or just above $60k yearly salary. On our site, you can find lots of money saving tips to help stretch your income further.
Here are the most important tips to live on $29 an hour. More importantly stretch how much you make, in case you are in the “I don’t want to work anymore” mindset. Highlight these!
1. Spend Less Than you Make
First, you must learn to spend less than you make.
If not you will be caught in the debt cycle and that is not where you want to be. You will be consistently living paycheck to paycheck.
In order to break that dreadful cycle, it means your expenses must be less than your income.
And when I say income, it’s not the $29 an hour. As we talked about earlier in the post, there are taxes. The amount of taxes taken out of your paycheck is called your net income which is $29 an hour minus all the taxes, FICA, Social Security, and Medicare are taken out. That is your net income.
So, your net income has to be less than your gross income. Learn more on gross pay vs net pay.
2. Living Below Your Means
You need to be happy. And living on less can actually make you happier. Studies prove that less is better.
Finding contentment in life is one thing that is a struggle for most.
We are driven to want the new shiny toy, the thing next door, the stuff your friend or family member got. Our society has trained you that you need these things as well.
Have you ever taken a step back and looked at what you really need?
Once you are able to find contentment with life, then you are going to be set for the long term with your finances.
Here is our story on owning less stuff. We have been happier since.
3. Make Saving Money Fun
You need to make saving money fun. If you’re good, since you must keep your expenses low, you have to find ways to make your savings fun!
Find new ways of saving money and have fun with it.
Even better, get your family and kids involved in the challenge to save money. Tell them the reason why you are saving money and this is what you are doing.
Here are 101 things to do with no money. Free activities without costing you a dime. That is an amazing resource for you and you will never be bored.
And you will learn a lot of things in life you can do for free. Personally, some of the best ones are getting outside and enjoying some fresh air.
4. Make More Money
If you want if you do not settle for less, then find ways to make more money. If you want more out of life, then increase your income.
You need to be an advocate for yourself.
Find ways to make more money.
It could be a side hustle, a second job, asking for a raise, going to school to change careers, or picking up extra hours.
Whatever path you take, that’s fine. Just find ways to make more money. Period.
5. No State Taxes
Paying taxes is one option to increase what you take home in each paycheck.
These are the states that don’t pay state income taxes on wages:
Alaska
Florida
Nevada
New Hampshire
South Dakota
Tennessee
Texas
Washington
Wyoming
It is very interesting if you take into account the amount of state taxes paid compared to a state with income taxes.
Also, if you live in one of the higher taxed states, then you may want to reconsider moving to a lower cost of living area. The higher taxes income tax states include California, Hawaii, New Jersey, Oregon, Minnesota, the District of Columbia, New York, Vermont, Iowa, and Wisconsin. These states tax income somewhere between 7.65% – 13.3%.
6. Stick to a Budget
You need to learn how to start a budget. We have tons of budgeting resources for you.
While creating a budget is great, you need to learn how to use one.
You do not have to budget down to every last penny.
You need to make sure your expenses are less than your income and that you are creating sinking funds for those irregular expenses.
Budget Help:
7. Pay Off Debt Quickly
The amount that you pay interest on debt is absolutely absurd.
Unfortunately, that is how many of these companies make their money from the interest you pay on debt.
If you are paying 5% to even 20-21% or higher, you need to find ways to lower that debt quickly.
Here’s a debt calculator to help you. Figure out your debt-free date.
Make that paying off debt fast is your target and main focus. I can tell you from personal experience, that it was not until we paid off our debt that we finally rounded the corner financially. Once our debt was paid off, we could finally be able to save money. Set money aside in separate bank accounts and pay for cash for things.
It took us working hard to pay off debt. We needed persistence and patience while we had setbacks in our debt-free journey.
Jobs that Pay $29 an Hour
You can find jobs that pay $29 per hour. Polish up that resume, cover letter, and interview skills.
Job Search Hint: Always send a written follow-up thank you note for your interview. That will help you get noticed and remembered.
First, look at the cities that require a minimum wage in their cities. That is the best place to start to find jobs that are going to pay higher than the federal minimum wage rate. Many of the cities are moving towards this model so, target and look for jobs in those areas.
Possible Ideas:
Virtual Assistant – Get free training NOW!
Freelance writer
Class A Truck Driver
Managers
Entry Level Marketing Jobs
Data Entry Clerks
Customer service managers
Bank tellers
Maintenance workers
Freight broker – Learn how easy it is to start!
Administrative assistants
Athletic Trainers
Event Planners
Day trader
Security guard
Movers
Cashiers
Warehouse workers
Companies that pay more than $29 per hour: Wells Fargo, Disney World, Disney Land, Bank of America, Cigna, Aetna, etc
$29 Per Hour Annual Salary
In this post, we detailed 29 an hour is how much a year. Plus all of the variables that can impact your net income. This is something that you can live off.
$60,320
That is making between $60000 a year and $62000 a year.
In this post, we highlighted ways to increase your income as well as tips for living off your wage.
Use the sample budget as a starting point with your expenses.
You will have to be savvy and wise with your hard-earned income. But, with a plan, anything is possible!
Still thinking I don’t want to work anymore, you aren’t alone and need to start to plan for your early retirement.
Learn exactly how much do I make per year…
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.
Today, I have a fun guest post from my friend Cody Berman. Cody is a digital nomad who quit his corporate job to pursue entrepreneurship full-time. He started selling digital products in 2018 and became hooked after earning $700+ in one week. He now helps other entrepreneurs and creators monetize their businesses through digital products….
Today, I have a fun guest post from my friend Cody Berman. Cody is a digital nomad who quit his corporate job to pursue entrepreneurship full-time. He started selling digital products in 2018 and became hooked after earning $700+ in one week. He now helps other entrepreneurs and creators monetize their businesses through digital products. He’s been featured here on Making Sense of Cents before and you can find that article here – How I Make Money Selling Printables On Etsy.
—
I used to be a chronic side hustler. At one point I had 20+ income streams. Sounds great, right? Except it wasn’t.
I was all over the place, trying every side hustle imaginable – delivering UberEats, editing podcasts, building websites, selling discs, running affiliate campaigns, writing articles, buffing boats, you name it. But most of the time, I felt like I was stuck trading my time for money.
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.
Don’t get me wrong, the money was great for some of these side hustles, but if I didn’t work I didn’t get paid. At one point, I made $500 for writing a single blog article! But once the article was delivered and the invoice was paid, I had to hunt for my next gig and turn in the work to make my next dollar.
At one point, I co-founded a disc golf manufacturing business. I thought that this business was going to be my golden ticket. For those who don’t know, disc golf is similar to ball golf, except instead of hitting a ball into a hole with a club, you are throwing a plastic “disc” into a basket. Our company manufactured those discs.
We started scaling pretty quickly and within two years we were selling our products in all 50 states and 20+ countries. On paper, everything looked amazing. But behind the scenes, we constantly had product issues, shipping delays, mismanaged inventory, and everything that else could possibly go wrong with a physical product business.
I was feeling tired and burnt out and looking for something new.
Fast forward to early 2019 and my friend Julie, another side hustler, told me that she had been selling printables on Etsy. She had spent about 60 hours creating a bunch of digital products (a.k.a. printables) and had made over $5,000 so far. The words “so far” were the ones that got me hooked.
Unlike my my physical products business where each unit had to be manufactured, quality tested, packaged, and shipped, these “digital products” sounded different. By the way Julie was describing it, I could create a digital product once and keep making money from it without much additional effort. This sounded ten times better than all of the side hustles I had tried (and way more passive).
The only problem was that I didn’t really have any clue what a “printable” was… and I had never even been on Etsy. And at this point, you might be thinking the same thing.
What exactly are printables? Basically, they’re digital files that customers can download and print at home. Think cards, planners, calendars, games, gift tags – the possibilities are endless!
The best part? Once you’ve created a printable, you can sell it an unlimited number of times without ever having to worry about restocking inventory or shipping costs.
Now back to my story. Even though I didn’t really know how to create printables, or what printables to sell, or anything about graphic design for that matter, I decided to give it a shot. If Julie could do it, I could do it, right?
Wrong.
My first ~20 printables were absolutely terrible, but I listed them on Etsy anyway. You’ll never guess what happened next. I got a whopping… zero sales.
OK, maybe you did guess that.
Between my zero graphic design skills, lack of product research, and unfamiliarity with the Etsy platform, I definitely wasn’t setting any sales records.
But after some trial and error – well, a lot of trial and error – I managed to come up with some pretty decent-looking printables. I focused on creating seasonal products, a strategy I often recommend to beginners. And let me tell you, it paid off big time.
In December and January, I created dozens of Valentine’s Day printables since I had heard that it was one of the biggest holidays on Etsy. Some of my designs included Valentine’s cards, love coupons, editable love notes, custom photo cards, and more.
And finally, after months of crickets, it seemed like the algorithm was working in my favor, with tons of people searching for Valentine’s gifts and cards for their loved ones. The real excitement started on February 9th, just five days before the big holiday.
I remember that week vividly because while all this was happening, I was actually skiing in Lake Tahoe. And on February 9th, when I checked my phone in the ski lodge at lunch, I had made over $100… that day.
The entire week continued to be extremely profitable and I ended the week with $718 in sales from just a handful of products that took me a couple of hours to create. It was the first time I experienced true passive income. The only part that wasn’t passive was answering the occasional customer question, which took less than five minutes per day from my phone.
That experience was a game-changer for me. It was the moment I realized the true potential of selling digital products on Etsy. And I owe a big thank you to Julie, who introduced me to this side hustle and helped me see that I could create products that continued to make money long after I’d created them.
Let me be clear – building a successful Etsy shop isn’t a get-rich-quick scheme. There’s work involved in getting your shop up and running, from creating high-quality designs to optimizing your listings and promoting your products. But trust me when I say that the effort is worth it.
Once your Etsy shop is up and running, it can become a passive income machine. Your printables can sell for years and years after you list them. That next Valentine’s Day, I was in Aruba for a wedding event, and the same exact designs that earned me $718 in Lake Tahoe, earned me hundreds again that next year.
These Valentine’s Day printables have been sitting in my Etsy shop for years at this point, and they continue to make sales every single year. Compared to selling physical products, delivering UberEats on a bike, editing podcasts, or writing blog posts, this side hustle is so much more passive.
If you want to learn more, I recommend signing up for the Free Training Workshop: Earn Money Selling Printables. This free workshop will teach you how to get started selling printables. You will learn different ideas for printables to sell, how to get started on Etsy, and how to actually make sales.
Are you interested in selling printables online? What questions do you have?
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.
Recommended reading: Gold City Ventures Review: E-Printables Course Review
Want to learn how to make money online without paying anything? Here are ways to earn money online for free. Making money online without putting in money up front is doable for many people. Thanks to the growth of online jobs and businesses, you can make extra money or create a full-time job from home….
Want to learn how to make money online without paying anything? Here are ways to earn money online for free.
Making money online without putting in money up front is doable for many people. Thanks to the growth of online jobs and businesses, you can make extra money or create a full-time job from home.
It doesn’t matter if you’re skilled or just getting started – there are ways to make money without paying anything at the beginning. You can use your creativity and skills in things like making content, providing digital services, and selling stuff online to make a steady income.
I personally have made money online in many different ways without paying anything to get started, so I know that this truly does exist.
Best Ways To Make Money Online Without Paying Anything
Here’s a quick summary of my favorite ways to make money without investment:
Best way to make money online freelancing – Proofreading
My favorite way to make money online for free – Blogging
Best way to make money online for passive income – Selling printables
Best way to make money online for those who like numbers – Bookkeeping
Below are the best ways to make money online without paying anything.
1. Blogging
Blogging is exactly what I started years ago, and I didn’t pay any money in the beginning to get started.
If you want to make money with a laptop, then this is what I recommend.
I began Making Sense of Cents in 2011, and it has helped me earn over $5,000,000 since then. I started my blog on a whim to share my own money journey, not even knowing that people could make money from blogs or how to make a successful one.
Now, it’s my full-time job!
Eventually, you will have costs with a blog, just like with most of the businesses listed below, if you want to grow and make more money. But, the expenses are low compared to how much money you may be able to make.
So, what’s a blog? A blog is like this content you’re reading now – it’s writing on a website. You can blog about something you’re passionate about, something you know a lot about, or even something you want to learn more about (people enjoy following firsthand journeys!).
There are many different niches (topics) that you can write about too, such as travel, personal finance, home, lifestyle, family, food, and more.
You can learn how to start a blog with my free How To Start a Blog Course (sign up by clicking here).
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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.
2. Printables
Selling printables is a way to make passive income from home without upfront costs.
This is because printables are digital files that you can download and print at home. You only need to make one digital file for each product, and then you can sell it multiple times.
They can be things like grocery shopping lists, invites, thank you cards, digital art, or gift tags.
I have bought many printables myself, and many others do too. Recently, I purchased a printable to help teach my daughter the alphabet. It was a useful tool, and I could easily print it at home.
You can learn more about this at How I Make Money Selling Printables On Etsy.
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. Proofreading
If you like finding mistakes in written content and want to start a business without spending a lot of money, then proofreading might be a good choice for you. This can be a part-time job or a full-time career working from home.
Many proofreaders earn around $40,000 a year or even more.
Proofreaders look for errors in articles, ads, books, student papers, emails, transcripts, and more.
To become a proofreader, all you need is a laptop or tablet, an internet connection, and the ability to spot mistakes and errors. So, you probably already have everything you need to get started.
I recommend signing up for a free 76-minute workshop, where you can learn more about becoming a proofreader. You can sign up for the free How To Become a Proofreader workshop here.
Recommended reading: How To Become A Proofreader And Work From Anywhere
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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.
4. Freelance writing
Freelance writing is a great way to make money online without any upfront costs, as you don’t need any expensive equipment to get started.
A freelance writer is someone who writes for different places like websites, blogs, magazines, ads, books, and other things.
I have been a freelance writer for many years now, all from my laptop. I really enjoy being a freelance writer, and I have many friends who do this as well. I started this job because I wanted to make money from home and not spend money trying to figure it out. And, it worked!
This job can earn you more than $50,000 a year. Some of my friends who are freelance writers make over $200,000 a year.
Recommended reading: 14 Places To Find Freelance Writing Jobs
5. Opening an online store
Starting an online store is a way to make money without upfront costs, and sites like Etsy and Shopify make this possible.
On Etsy, you can sell things like handmade or vintage items and craft supplies. This online marketplace is great if you’re creative and want to sell unique, one-of-a-kind products. Shopify, on the other hand, has more flexibility in what you can sell and allows you to build your personal storefront.
There are many different types of things you can sell, such as digital products like ebooks or web design templates, which don’t require inventory and can be sold repeatedly without additional cost. Physical products, on the other hand, can also be sold but keep in mind that you’ll need a plan for shipping, and you may have to spend money in order to have them as inventory to list on your store.
Another idea is dropshipping. This is a business model where you don’t need to keep inventory or ship products yourself. Instead, you work with suppliers who take care of inventory and shipping for you.
Below are some ideas for things you could sell through an online dropshipping store:
Travel items such as portable luggage scales, neck pillows, or travel cubes
Fitness equipment like yoga mats, weights, or resistance bands
Sustainable products such as reusable utensils, bamboo toothbrushes, tote bags, or eco-friendly cleaning supplies
Camping-related items like hammocks, lanterns, cookware sets, and survival kits
Jewelry such as stackable rings, layered bracelets, anklets, and statement earrings
6. Print-on-demand
Similar to the above, print-on-demand (POD) is a business model where you sell your custom designs on products like T-shirts, mugs, and books, but only print them once an order is placed.
It’s a popular way to start an online business with minimal upfront costs because you don’t have to worry about inventory. Your job is to create the designs and set up your online store.
Once a customer buys a product, the order goes straight to your POD supplier who prints and ships it under your brand name.
7. Stock photography
Stock photography is a way to make money online without any cash up front. If you already have a camera or even just a cell phone, you can get started selling stock photographs.
You are simply taking photos, putting them on a stock photo website, and selling them to people and companies.
People buy stock images from websites like Shutterstock, Getty Images, or Adobe Stock for many reasons, such as adding them to their websites, articles, blog posts, advertisements, and social media.
You can sell many types of pictures, including travel, business, people, food, animals, health, fashion, sports, and more.
For example, if I write a blog post about making money with a laptop, I might buy a stock photo of a laptop. Or, if I need a picture related to making money while traveling, I’d find a picture of a vacation to include in my blog post. Stock images can make a blog post more enjoyable to read.
Recommended reading: 18 Ways You Can Get Paid To Take Pictures
8. Affiliate marketing
Affiliate marketing is a way for you to earn money by promoting products or services online, and you don’t need anything special to get started.
With affiliate marketing, if your friend or follower buys a product through a referral link you share, you get paid a commission – it’s as simple as that.
First, pick products you love and are sure others will benefit from. Then, sign up for their affiliate program. Each program gives you an affiliate link. This link tracks who clicks and buys from your recommendation.
Your job is to share your affiliate link with as many interested people as possible. You could write about it on your blog, make videos, or even just share it on social media.
I recommend signing up for Affiliate Marketing Tips For Bloggers – Free eBook to learn more.
9. Playing games and watching videos for money
There are lots of money-making apps that let you earn cash by playing games or watching videos on your phone.
These apps pay you real money because they make money from ads and in-app purchases. To get you to keep playing, they give you a share of their earnings. For watching videos, the sites reward you with points for watching sponsored videos, and these videos can range from ads to short clips.
Now, these won’t make you rich, but it is a way to make money from your phone without upfront costs.
Here’s a quick list of the top video and game apps that pay real cash:
KashKick
Swagbucks
InboxDollars
Recommended reading: 15 Ways To Make Money From Your Phone
10. Market research and focus groups
If you love sharing your opinions, market research and focus groups are great ways for you to earn cash online without paying anything. This kind of work connects you with companies seeking feedback on their products or services. It’s all about understanding what you think as a consumer.
Lots of companies want to hear from people like you and me, and you can share your opinions with them using just a laptop or phone, some free time, and a good internet connection.
When I was paying off my student loans, I took online surveys almost every day. I did them before work, during lunch, or after work. Even though they didn’t make me a lot of money, they were flexible because I could do them whenever I had time. Plus, they were really easy and didn’t require much thinking!
Here are some survey companies I suggest:
American Consumer Opinion
Survey Junkie
Swagbucks
InboxDollars
Branded Surveys
PrizeRebel
User Interviews – This one pays on average around $60 per assignment (much higher than the rest, but it is a little more work for participants as these are usually video calls or on the phone)
Signing up for these survey sites is free, and typically, they pay about $1 to $3 for each survey you finish.
11. Online tutoring
As an online tutor, you get to teach students from the comfort of your home. Your job is to share your knowledge and help in a subject you know well. You don’t have to worry about traveling or a strict schedule; you can choose when to do your online tutoring gig.
You can make between $30 and $60 per hour or more, depending on the subject’s difficulty and your expertise. And you don’t need to spend any money up front, so it’s a way to earn online without extra costs.
As a tutor, you might spend 30 minutes to an hour giving a lesson, answering questions online, or working one-on-one with a student in a video lesson.
12. Virtual assistant job
You can make money from home as a virtual assistant by doing administrative tasks for clients online. You don’t need anything to get started other than a computer or laptop.
Virtual assistants, or VAs, do tasks similar to administrative assistants, but they work from home or anywhere with internet.
Virtual assistants do things like:
Email management – Answering and organizing emails
Calendar management – Scheduling appointments, meetings, and events
Administrative support – Preparing reports, presentations, and documents
Travel arrangements – Booking flights, hotels, and transportation for business trips
Internet research – Doing online research on topics to write about, competitors, products, etc.
Personal tasks – Booking appointments or making dinner reservations
I’ve been a virtual assistant before (it was actually one of my first online jobs, and I liked how I didn’t have to spend money to become a VA), and I also have one who works for me, so I know how useful they can be! Plus, you don’t need anything expensive to get started.
13. Social media influencer
Being a social media influencer is a real way to make money online without any initial cost, and plenty of people have started their social media accounts by spending absolutely $0. In fact, I think most people start as just a hobby!
You can start with just your phone, by taking pictures and sharing your thoughts on social media accounts like Instagram, TikTok, and Facebook.
You can earn money as a social media influencer through sponsored posts, where brands pay you to promote their products or services in your posts. You can also make money through affiliate marketing, where you earn commissions from sales made through your referral links. Plus, you can sell digital products like ebooks or online courses.
I’ve been a social media influencer for years, monetizing my Instagram and Facebook accounts. It’s allowed me to collaborate with brands I love and promote products I already use.
14. Transcriptionist
Becoming a transcriptionist can be a good choice to make money online without upfront costs. This is something that you can learn to do, and transcriptionists usually make around $15 per hour.
As a transcriptionist, you can earn money from home by turning audio files or video files into written documents. Clients can include marketers, authors, filmmakers, academics, speakers, and conferences.
To find transcription jobs, some places to start include:
Rev – Transcribers on Rev earn an average of $245 per month, with top earners making up to $1,495.
CrowdSurf – CrowdSurf pays for short transcription tasks, which are great for those looking for quick, manageable projects.
TranscribeMe – This platform is good for beginners as they give training and only require a reliable internet connection and computer.
Recommended reading: 18 Top Online Transcription Jobs For Beginners
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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.
15. Video gaming livestreams
Yes, you can make money online with no upfront costs by live streaming (such as a video game that you like to play). Eventually, you may want to upgrade to higher-quality equipment, but you can start right away with what you already have – your computer and phone.
Twitch is a website where you can make money by playing video games, talking with viewers in real time through live streams, and more.
As your viewer count grows, you can start making money. Streamers can earn through ways such as:
Subscriptions – Your fans can pay a monthly fee to support you as subscribers.
Donations – Viewers can send you tips if they enjoy your stream.
Advertisements – You can get paid from ads that run on your live stream.
Sponsorships – Companies may pay you to promote their products.
Recommended reading: How Much Do Twitch Streamers Make?
16. YouTube
Starting a YouTube channel is a popular way to make money online without any initial investment. You can record videos from your phone or camera, and you don’t really need anything else to get started in the beginning.
You can start a YouTube channel about many different topics like finance, home, travel, toys, pets, and more. There’s a YouTube channel for almost anything nowadays, and there’s still space for more!
In your YouTube videos, you can include links to products you recommend, earn money from ads that play during your videos, get paid by brands to feature their products, and even sell your own stuff.
17. Freelance graphic design
As a graphic designer, you can earn money online without investing any money up front. You can create designs such as logos, social media graphics, and branding materials for clients.
To start, you will most likely want to create a simple but impactful portfolio to display your work. This is your opportunity to show your abilities to potential clients, so you will want to include your favorite projects and what reflects your design style.
You can also sign up on freelance sites like Fiverr where businesses look for designers like you.
18. Virtual bookkeeping
Bookkeepers manage financial records, track expenses, and generate financial reports; it requires attention to detail and strong organizational skills.
This job typically pays more than $40,000 a year. Plus, many types of businesses require bookkeepers, making it a great career choice with opportunities for growth.
Even better, you can do this job from home using your computer and the internet.
Yes, you don’t need a degree to be a bookkeeper. You can start by learning basic bookkeeping and the software most businesses use.
If you want to become a bookkeeper, there is a free workshop all about finding a virtual bookkeeping job, and you can sign up for free here.
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This free training will teach you what you need to know to become a virtual bookkeeper and make money from home.
19. Write an ebook
Writing an ebook can be a way to make money without needing upfront investment, other than your time and effort. This is something you can do yourself too, such as through the self-publishing route on Amazon.
Ebooks are digital books that you can download and read on devices like tablets, phones, e-readers, or laptops. They’ve become very popular because they’re affordable and easy to access.
I’ve purchased many ebooks myself, ranging from nonfiction to fiction, and many, many other people have as well.
Recommended reading: How this person is making $200 a day in book sales passively.
20. Online travel agent
A travel agent is a professional who helps people plan and book trips, vacations, and other travel arrangements. They give their expertise and support in finding the best deals on transportation, accommodations, and activities, considering their clients’ preferences, budgets, and needs.
Travel agents also give helpful advice on destinations, suggest itineraries, arrange tours and excursions, and handle logistics such as flights, hotels, car rentals, and travel insurance.
There are many different kinds of niches you can sell vacations and trips in, such as luxury travel, cruises, Disney, budget travel, and adventure holidays.
21. Write book reviews
If you enjoy reading and talking about books, you can make money by writing reviews at home. Authors and publishers want to hear your honest opinions because they help other readers choose their next book. Readers also like these reviews, so it benefits everyone involved.
You don’t need anything other than your computer (or even just your cell phone) to write the reviews. Many times, the book is given to you to review, so you don’t even have to pay for that.
This is typically more of a side gig for spare cash and free books.
Here are some websites where you can make money online by writing book reviews:
OnlineBookClub.org – They give free books for your first book review (and no other payment). After your first review, you can earn cash for each review, usually between $5 and $60.
Kirkus Media – They look for reviewers for both English and Spanish books, particularly in the Kirkus indie section. Reviews involve around 350-word summaries due two weeks after receiving the book. They cover all genres, with over 10,000 books reviewed annually.
Upwork – Create a profile as a book reviewer on this freelance platform. You can choose projects that interest you and set your own rates.
The US Review of Books – They hire freelance writers for 250- to 300-word reviews that go beyond summarizing to provide insights into the book. To join, submit a resume, writing samples, and a couple of references.
Reedsy Discovery – Review books before they are published and get paid through tips from readers, ranging from $1 to $5. It’s an exciting way to influence which books become popular.
Learn more at 16 Best Ways To Get Paid To Read Books.
22. Online job opportunities
There are many more ways to make money online that won’t cost you money to get started, and these include:
Finding remote part-time or full-time jobs – If you want a full-time income or are interested in part-time work, popular job search platforms like Indeed can help. They help you find jobs that fit your schedule where you work for someone else as an employee, such as software engineer, developer, human resources manager, IT manager, and more.
Customer service and support jobs – As an at-home customer service rep, you would work for companies, answering customer questions and issues that they may be having.
Data entry and administrative jobs – Data entry jobs are ideal for you if you have a good eye for detail and can work independently.
These are all jobs where you would be working for someone else, but online from home. The company would normally provide you everything you need to get started, such as any software and possibly even the laptop as well.
Frequently Asked Questions
Below are answers to common questions about how to make money online without paying anything.
How can I make money online completely for free?
There are many ways to make money online completely for free. You can start a blog, freelance write, bookkeep, write book reviews, sell stock photography, or become a virtual assistant.
How can students earn money online without any investment?
Students can make money online without any investment by answering online surveys, tutoring online, freelance writing, proofreading, blogging, and more. Whether you want to make extra cash or a full-time income, there are many options for students.
How to Make Money Online Without Paying Anything – Summary
I hope you enjoyed this article on how to make money online without paying anything.
Getting started with making money online might feel overwhelming and impossible, but it’s not impossible if you do it right.
The internet has many places where you can show off your skills as a writer, artist, or tutor. You can also sell items online, or even play games and give your opinion in surveys.
What other ways are there to make money online for free without investment?
Looking for the best business ideas for teens? Whether you’re a teenager trying to find ways to make extra money or if you’re a parent trying to help your child start a business to learn about money, there are many positives of starting your own business young. Whether it’s in the summer, after school, or…
Looking for the best business ideas for teens?
Whether you’re a teenager trying to find ways to make extra money or if you’re a parent trying to help your child start a business to learn about money, there are many positives of starting your own business young.
Whether it’s in the summer, after school, or on weekends, having a small business can be a fun and educational thing to start.
I did many different things as a teen to make extra money, and they all taught me so much. There are many different ways for teens to make money, as you will learn below.
Best Business Ideas for Teens
There are many business ideas for teens listed below. If you want to skip the list, here are some ways for teens to make money that you may want to start learning more about first:
Below are the best small business ideas for teenagers to start.
Recommended reading:
1. Babysitting
Babysitting is an obvious job for teenagers, and it can be a great way to make money. I was a babysitter when I was a teenager and regularly earned over $1,000 a month by babysitting (mainly in the summer).
Starting a babysitting business is a smart choice for teens as it’s simple to start with very few costs. Your main investment is the time and effort you spend taking care of children.
To get started, you’ll need to let people know you’re available. Reach out to your parents’ friends, neighbors, or family members. After a while, word of mouth can help you find more jobs.
Safety is really important too, of course. So, you will most likely want to get certified in first aid or CPR. This not only makes you more trustworthy but also helps you handle emergencies.
2. Car washing services
Starting a car washing business can be a great business for a teen entrepreneur.
To start, you just need basic supplies: a bucket, a soft sponge, window cleaner, and cloths for drying and polishing.
With a straightforward service like car washing, you can operate right in your driveway or travel to clients’ homes for convenience.
3. Start a blog
Starting a blog is a great way for you to share your thoughts and ideas while potentially earning money. Your blog can cover any topic you’re passionate about, whether it’s fashion, sports, technology, or your daily experiences.
While I was around 21 years old when I started my blog, I know a few people who started theirs as teenagers.
A blog can be a great business idea to start when you’re young, as you can decide how to build your blog, how you earn an income, and the schedule you put toward it.
You can easily learn how to start a blog with my free How To Create a Blog Course.
Here’s a quick outline of what you will learn:
Day 1: Why you should start a blog today
Day 2: What topic to blog about
Day 3: Tutorial on how to start a blog on WordPress
Day 4: How to make money with your blog
Day 5: How to make passive income on your blog
Day 6: How to get pageviews to your blog
Day 7: Tips to see success with your blog
Out of all of these business ideas for teens, blogging is by far my favorite. It does take more time to start making money, but it’s very flexible and fits with any kind of schedule.
4. Tutoring and teaching
If you’re a teen who’s really good at a certain subject, tutoring could be a great way to start a rewarding business. You can use your knowledge to help others do well in areas you’re good at.
Your friends or younger students might find it helpful to have one-on-one sessions where you explain difficult topics in simple ways.
Subjects you may be able to tutor in include:
Math
Science
Foreign languages
English
Many tutors are teenagers, so this may be a great fit for you!
5. Photography
If you love capturing moments through a lens, starting a photography business could be a perfect fit for you.
Starting a business as a photographer can kick off with a relatively low investment. Initially, you might need to spend between $500 to $2,000 on equipment like a good camera, lenses, and editing software. But, if you already have a camera, then that is the bulk of the cost.
You can take pictures at events like birthdays or graduations, capture stunning portraits, or create art through landscape and wildlife photography.
6. Home care services in your neighborhood
When you start a home care services business, you’re stepping into a role that helps busy homeowners manage their households.
This can include a range of services that assist with the upkeep of a home, such as:
Housecleaning – You can offer to dust, vacuum, and clean the different areas of a home. People always appreciate coming back to a sparkling clean space.
Laundry – Washing, drying, and folding clothes are tasks that many would gladly outsource to you. Organizing wardrobes or ironing clothes can be added services.
Plant care – Have a green thumb? Offer to water plants, prune leaves, and take care of any garden needs.
Raking leaves – Raking leaves is a good business idea for teens, especially during the fall. Trees drop their leaves and many homeowners need help gathering and disposing of them.
Errand runner – As an errand runner, you’ll help people in your community with tasks they might not have time for, like grocery shopping, picking up prescriptions, or mailing packages.
When I was a teen, I had a friend who was a personal assistant for someone in her neighborhood. She would pick up their dry cleaning, take care of their plants, walk their dogs, and more.
7. Pet care (pet sitting and dog walking)
If you’re a teen who loves animals, starting a pet care business can be a great way to earn some extra cash. Pet sitting and dog walking services are in high demand and can be both fun and rewarding.
To start, you can join a dog walking app-based service. Rover is a user-friendly option that connects you with pet owners. You can create a profile, set your own prices, and specify the types of services you feel comfortable providing, such as dog walking or pet sitting.
You can typically earn between $15 and $30 for each hour spent with a pet, considering you might need to commute to the pet’s location.
8. Graphic design
If you’re interested in art and technology, you can start a graphic design business.
Graphic design is about creating visual content for companies and individuals. You’ll use software to make logos, social media graphics, posters, and much more.
As a teen graphic designer, your income will vary. Typically, you can make anywhere from $5 to $100 per project when starting. As your skills grow, so can your rates. The market for design work is expanding, making room for you to succeed.
9. Music and art lessons
Can you play piano, guitar, or violin? Or maybe you’re skilled in drawing or painting?
If you’re a teen with a talent for music or art, teaching art or music lessons can be a great business idea. Whether you play an instrument or paint like a pro, other kids and parents might pay for your expertise.
10. Sell handmade goods and crafts
If you like being creative and making things with your hands, selling arts and crafts can be a great business idea for teens.
Here are some crafts that teens can create and sell for extra money:
Jewelry – You can make necklaces and bracelets.
Homemade candles – Candles are simple to make and can be sold to people who like to add a cozy feel to their homes.
Paintings – If you like to paint or draw, you can create artwork to sell.
Slime – Slime is really popular and fun to play with. Teens can make and sell their own slime in different colors and maybe even add things like glitter to make it unique.
Soap – Homemade soap is always nice to have, and people love to buy it.
Stickers – Everyone loves stickers and this can be a fun way to make extra money on Etsy or in person.
You may be able to sell your homemade items at local craft fairs or online on Etsy.
Recommended reading: 16 Best Things To Sell On Etsy To Make Money
11. Providing technical support
If you’re good with technology, starting a technical support service can be a choice to look into. Lots of people have trouble with technology and need help. As a teen, you can meet this demand by selling your tech-savvy skills and knowledge.
Services you can sell include:
Software installation and updates
Virus and malware removal
Hardware troubleshooting
Help with using different programs and apps
You can market your business by telling your friends, family, and neighbors about your services, and even by creating flyers to distribute and post on local community boards and at local businesses.
12. Start a YouTube channel
Making a YouTube channel is a way for you to share what you love, your talents, and your ideas with the world. It can also become a fun way to earn some money.
Most people know about YouTube, and almost everyone has seen at least one video on the platform. According to YouTube, there are over 2 billion people who watch at least one video on YouTube every month.
Many people have goals of starting a YouTube channel and making money, but not many people ever actually start.
You can learn more at How I Grew From 0 Subscribers To Over $100,000 On YouTube In Less Than One Year.
13. Design and sell print-on-demand products
Starting a print-on-demand business lets you be creative and make money. You can make products that are inexpensive to create, such as posters or custom-designed mugs.
To begin, design things that show your interests or what customers like. After that, use a service like Printful to put these designs on different products. The company takes care of everything else, from printing to shipping.
14. Lawn care business
Starting a lawn mowing business is a great way for teens to make money and is one of the popular small business ideas for teens. It’s easy to get started, and you can make cash during spring and summer (or even year-round depending on where you live, like Florida, Texas, Arizona, and California).
All you need is a lawn mower, some fuel, and basic gardening tools.
You can talk to neighbors, family, and friends to find new lawn mowing jobs.
I know many families with teenagers who mow lawns to make money. Some even turn it into a full-time business as they grow up.
15. House sitting
For teenagers, starting a house sitting business is a smart way to make money. You’re responsible for looking after someone’s home while they’re away, which is a big job.
Trust is important due to this, and homeowners must feel sure that their property and pets are safe in your care.
When I was a teen, I had a friend who was a regular house sitter for several people. She would water their plants, walk their dogs, and stay overnight in their homes to make sure everything was fine with the house.
16. Sell printables on Etsy
If you want to earn money from home and be your own boss with low startup costs, creating printables could be a great option for you.
A printable is a digital product that can be downloaded and printed at home. You create them once and then sell them on a platform like Etsy for people to purchase. You don’t have to physically print anything; you’re just selling the digital download.
Printables include things like grocery shopping checklists, weekly meal plans that people can put on their fridges, gift tags, and quotes to be framed. These are digital products that users can download and print for their use.
Making money at home as a teenager through creating printables is great because you create one digital file download for each product, and then you can sell them an unlimited number of times.
I recommend reading about this further at How I Make Money Selling Printables On Etsy.
Important note: To sell on Etsy, you need to be at least 18 years old. If you’re between 13 and 17, you can still sell on Etsy with the proper permission and under the direct supervision of your parent or legal guardian. The Etsy account should be registered using the parent or legal guardian’s information.
17. Social media influencer
If you enjoy being in front of the camera and are good at connecting with people, you could possibly make money as a social media influencer.
This can include platforms such as TikTok, Instagram, and more.
Now, this is not a guaranteed way to make extra money as a teen, as not everyone makes it. But, you won’t know unless you give it a try.
It’s all about your image and your message (and some luck too, of course). Ask yourself, what are you passionate about? Fashion? Gaming? Fitness?
You’ll want to keep your posts consistent (for many platforms, this will include posting at least once a day) and your voice authentic. This is how you’ll attract followers who can’t wait to see what you post next.
You’ll also want to interact with your audience. Reply to comments, ask questions, and listen to what they want. An engaged audience is a loyal one, and brands notice this. The more you connect, the more your followers trust you.
As your following grows, companies might pay you to talk about their products. That’s because they see value in your ability to reach and engage with a dedicated audience.
You can learn more at How I Make Money On TikTok – How I Grew To 350,000 Followers and Made $60,000 In 6 Weeks.
18. Videography
If you love making videos, starting a videography business could be a perfect idea for you. As a young entrepreneur, you can begin this business idea with just a smartphone or a basic camera.
You can start this small business idea by practicing filming different events like school activities or community gatherings. This will help you to create a portfolio that highlights your unique style and skills.
19. Streaming
If you like playing video games and have a fun personality, you may be able to make money streaming. With platforms like Twitch, you can create a channel where you showcase your gaming skills or entertain an audience with your commentary.
Once you gather a following, you can monetize your channel through subscriptions, ads, sponsorships, and donations. Selling branded merchandise is another way to earn money.
Recommended reading: How Much Do Twitch Streamers Make?
20. Baking
If you love making treats that leave your friends and family asking for more, starting a baking business could be your path to success.
You could bake things like cookies, cakes, bread, and more.
Before selling, make sure you understand the legal requirements, such as if you need a permit or license.
21. Proofreader
A proofreader is someone who reads through written stuff like articles, books, or ads to find and fix any mistakes. Your job is to make sure everything’s correct before people see it.
If you love reading and often spot mistakes in written content, you might want to explore becoming a proofreader.
Freelance proofreading is a flexible and detail-oriented job that only requires a laptop or tablet, an internet connection, grammar skills, and a good eye for finding mistakes.
If you want to find online proofreading jobs, I recommend watching this free 76-minute workshop all about how to get started proofreading.
Recommended reading: 20 Best Online Proofreading Jobs For Beginners (Earn $40,000+ A Year).
22. Buy and sell flipper
Reselling items online on platforms like Craigslist, eBay, or Facebook Marketplace can be a great way to run your own business and make extra money.
Plus, it’s something that anyone can start because many of us own things that we could probably sell.
And, there are always things you can buy for a low price and potentially resell for a profit. You might even find free items that people are throwing away and sell those too.
There is a helpful free webinar that I recommend – Turn Your Passion For Visiting Thrift Stores, Yard Sales & Flea Markets Into A Profitable Reselling Business In As Little As 14 Days.
23. Answer online surveys
Okay, so this isn’t a business, but it is a way to make money online.
Taking surveys won’t make you rich, but it can help you earn a bit of extra money during your spare minutes throughout the day.
Companies pay you to take surveys because they want to know what people think about their product and their company. They want real opinions from real people.
Here are some of the survey companies that are open to teenagers (along with their minimum age requirements):
American Consumer Opinion – Age minimum – 14 years old
Survey Junkie – Age minimum – 12 years old
Branded Surveys – Age minimum – 16 years old
Swagbucks – Age minimum – 13 years old
InboxDollars – Age minimum – 12 years old
User Interviews – Age minimum – 16 years old
Things To Think About as a Teen Entrepreneur
As a teen wanting to start a business, it’s important to think about things like balancing schoolwork, managing finances, and making sure that you are staying safe.
Balancing school and business
Your school schedule is a priority, and finding a balance between it and your new business venture is important, so it’s important to plan out your week.
I recommend creating a visual where you can see your school time, study hours, and time for your business.
Example of a weekly schedule:
Day
School Hours
Study Time
Business Hours
Free Time
Monday
8 a.m. – 3 p.m.
4 – 6 p.m.
7 – 9 p.m.
Remaining
Tuesday
8 a.m. – 3 p.m.
4 – 6 p.m.
7 – 9 p.m.
Remaining
…
…
…
…
…
Sunday
None
Optional
Flexible
Flexible
Financial planning
It’s important to understand the basics of financial planning when it comes to your business so that you can make sure you are making money and not wasting money.
So, I recommend listing the resources and materials you’ll need along with their costs. This also includes keeping track of all your expenses and income using a spreadsheet or even just writing your expenses down.
Working safely
You should always be safe, and make sure not to fall for any scams or fall into business with someone that you do not want to. Keep parents up-to-date on what is going on in your business and make sure to meet strangers in public/safe places.
Frequently Asked Questions
Below are answers to common questions about starting a business as a teen.
What are some easy-to-start business ideas for high school students?
If you’re in high school and want to start a business, you can sell services like lawn care, dog walking, or car washing. These types of businesses require minimal money from you to get started and can be managed around your school schedule.
What are the business ideas for teens online?
For online business ideas for teens, there are many things you could do such as selling printables, starting a blog, online tutoring, selling handmade crafts on Etsy, and more.
What are the top business ideas for young adults?
The top business ideas for young adults include babysitting, car washing, lawn mowing, online tutoring, and starting a YouTube channel.
What types of businesses are suitable for 13 to 17-year-olds?
Teens between 13 and 17 can look into babysitting, pet sitting, tutoring, or crafting and selling homemade goods.
Business Ideas for Teens – Summary
I hope you enjoyed this article on the best business ideas for teens.
Starting a business when you’re a teenager can be fun and help you make some extra money. This can help you to save money for college, buy things that you want, hang out with your friends, buy clothing, and more.
Plus, it’s a chance to learn important skills and a good work ethic.
You can do different things to earn cash, like doing chores at home or trying out creative online projects. If you enjoy outdoor work, you can wash cars or take care of lawns. If you’re into technology, you might want to start a blog or a YouTube channel.
There are lots of options depending on what you like and what you’re good at!
What other business ideas for teens would you add to this list?