Home to Mount Rushmore and the Badlands, South Dakota is not only rich in natural beauty but it’s also a treasure trove of educational opportunities.
These college towns in South Dakota offer an ideal environment for students to pursue their passions, earn their degrees and lay down roots for bright futures. In this article, we will explore the top college towns in South Dakota, featuring Vermillion, Brookings, Sioux Falls and more. Lace up your hiking boots, it’s time to embark on a delightful journey through these charming South Dakota college towns.
Nestled along the scenic bluffs of the Missouri River, Vermillion is home to the University of South Dakota. As one of the best college towns in South Dakota, Vermillion boasts a picturesque setting that complements a top-quality educational experience. The National Music Museum on the University of South Dakota campus is a must-see, displaying a remarkable collection of musical instruments from around the world. With more than 15,000 instruments, this museum is a true gem for music enthusiasts and historians.
When it comes to entertainment, Vermillion doesn’t disappoint either. The city’s historic downtown offers a variety of shops, bars and restaurants for locals and students to enjoy. From the legendary drinks at Charcoal Lounge to the eclectic menu at Café Brulé, there is something for every palate in the picturesque downtown.
Vermillion is also home to numerous parks and trails, providing ample opportunities for outdoor enthusiasts to explore the breathtaking South Dakota landscape. No matter your interests, Vermillion is sure to provide an unforgettable college town experience.
Located in eastern South Dakota, Brookings is another vibrant college town that hosts South Dakota State University (SDSU). As the state’s largest university, SDSU brings an undeniable energy to Brookings, making it one of the most sought-after college towns in South Dakota. The South Dakota Art Museum, located on the SDSU campus, showcases a stunning collection of Native American art, as well as regional and national contemporary art. This museum is a haven for art lovers and an excellent way to immerse yourself in South Dakota’s unique cultural heritage.
Brookings is also known for its lively downtown district, which is home to a range of shops, restaurants and entertainment options. For foodies, there’s no shortage of delicious options: indulge in authentic Italian cuisine at Roma’s Ristorante or savor the local flavors at Cottonwood Coffee. If you’re looking to enjoy the great outdoors, Brookings has you covered with several parks, bike trails and the Dakota Nature Park, where you can hike, fish or simply relax in the peaceful surroundings.
The city’s warm and friendly atmosphere, combined with its excellent educational resources, make Brookings a must-visit destination for anyone interested in exploring the best college towns in South Dakota.
As the largest city in South Dakota, Sioux Falls is a thriving hub of education, culture and entertainment. Home to Augustana University, the University of Sioux Falls and several other colleges, Sioux Falls ranks among the best college towns in South Dakota. As you stroll through the city’s historic downtown, you’ll encounter a captivating blend of old-world charm and modern amenities. Be sure to visit the Washington Pavilion, which houses the Visual Arts Center, the Kirby Science Discovery Center and the Wells Fargo CineDome—a one-stop destination for art, science and entertainment.
The city’s culinary scene is equally impressive, with a diverse array of dining options ranging from upscale restaurants to cozy cafes. Treat yourself to some delectable sushi at Oshima or sample mouth-watering Mediterranean fare at Sanaa’s Gourmet. Sioux Falls also offers ample recreational opportunities, with the serene Falls Park at its heart. This beautiful park features the city’s namesake falls, walking trails and picnic areas, making it a perfect spot to unwind amidst nature. Outdoor enthusiasts can also explore the 29-mile Sioux Falls Bike Trail, which meanders through parks and green spaces, providing a picturesque way to experience the city.
With its thriving educational institutions and vibrant cultural scene, Sioux Falls is an excellent choice for those seeking out the best college towns in South Dakota.
While not as well-known as Vermillion, Brookings or Sioux Falls, Spearfish is an up-and-coming college town that deserves some attention. Home to Black Hills State University, Spearfish offers a unique mix of small-town charm and big-city amenities. This beautiful city is nestled in the picturesque Black Hills with provides a breathtaking backdrop for all educational pursuits.
Spearfish’s downtown area is a hub of activity, featuring a ton of locally-owned shops, restaurants and galleries. Savor some delicious wood-fired pizza at Dough Trader Pizza Company or indulge in fresh Mexican cuisine at Guadalajara’s Spearfish. The city is also a haven for outdoor enthusiasts, with nearby Spearfish Canyon offering opportunities for hiking, fishing and wildlife viewing. The canyon’s majestic waterfalls and colorful foliage create a mesmerizing landscape that is sure to leave a lasting impression.
Known as the ‘Gateway to the Black Hills,’ Rapid City is another fantastic college town in South Dakota. Home to the South Dakota School of Mines and Technology, this bustling city is a dynamic environment for students and locals alike. Rapid City’s vibrant downtown area, with its mix of historical architecture and modern amenities, provides plenty of options for dining, shopping and enjoying life to the fullest.
The city’s culinary scene is as diverse as it is delicious, with options like the mouth-watering steaks at Delmonico Grill and the tasty vegan fare at Everest Cuisine. Rapid City also boasts a wealth of outdoor activities, including hiking, rock climbing and mountain biking in the nearby Black Hills National Forest. For a unique cultural experience, visit the nearby Crazy Horse Memorial or take a scenic drive to Mount Rushmore.
With its excellent educational opportunities and unforgettable surroundings, Rapid City is a fantastic choice for those exploring college towns in South Dakota.
Settle down in a cool South Dakota college town
South Dakota’s top college towns offer a unique combination of exceptional educational institutions and vibrant communities. From the picturesque Vermillion to the bustling Sioux Falls, these cities provide a perfect environment for students and visitors to immerse themselves in the rich culture and natural beauty of the state. So, whether you’re a prospective student or a curious traveler, consider setting out on a delightful adventure through the best college towns in South Dakota.
These Pennsylvania college towns stand out thanks to their rich history, vibrant culture and top-tier academic institutions.
The best college towns in Pennsylvania offer a unique blend of small-town charm and big-city excitement, making them the perfect places to live, work and study. Whether you’re a student embarking on a four-year journey or simply someone looking for a change of scenery, these Pennsylvania college towns have something for everyone.
State College, often referred to as Happy Valley, is the quintessential college town in Pennsylvania. Home to Penn State University, this lively community boasts a diverse array of cultural, educational and recreational opportunities. With picturesque tree-lined streets, vibrant downtown shops and a plethora of outdoor activities, it’s no wonder State College is consistently ranked among the best places to live in the country. The town’s close-knit community and the strong relationship between university students and locals make for an ideal environment for students to thrive.
State College’s thriving arts scene is also a major draw. From world-class museums and galleries to local theater productions and concerts, there is always something happening in this dynamic college town. The Central Pennsylvania Festival of the Arts, held each summer, brings together artists, musicians and performers from across the country, transforming downtown State College into a bustling hub of creativity and inspiration.
With its combination of natural beauty, vibrant culture and top-notch educational opportunities, State College is undoubtedly one of the best college towns in Pennsylvania.
Pittsburgh is a flourishing college town that’s home to several prestigious institutions, including the University of Pittsburgh, Carnegie Mellon University and Duquesne University. With its rich industrial history, diverse culture and burgeoning arts scene, Pittsburgh has become a beacon for students and professionals alike. The city’s bustling urban center, complete with world-class museums, theaters and sports venues, is balanced by its quaint neighborhoods, including Oakland and Shadyside, where students can enjoy a more relaxed, community-focused lifestyle.
Nestled at the confluence of the Allegheny, Monongahela and Ohio Rivers, Pittsburgh provides a wealth of outdoor recreation opportunities for its residents. From the picturesque trails at Frick Park to the scenic vistas of Mount Washington, the city’s stunning landscape provides the perfect backdrop for students looking to unwind after a long day in the classroom.
Philadelphia boasts a rich history, a diverse population and a thriving arts scene. As one of the premier college towns in Pennsylvania, Philadelphia is home to numerous renowned universities, including the University of Pennsylvania, Temple University and Drexel University. The city’s historic charm, paired with its modern amenities, makes it an attractive destination for students seeking a well-rounded college experience.
Students in Philadelphia can easily immerse themselves in the city’s rich cultural history by visiting iconic sites like Independence Hall and the Liberty Bell or exploring its thriving arts scene at the Philadelphia Museum of Art and the Kimmel Center for the Performing Arts. The city’s diverse neighborhoods, like Fishtown and Manayunk, provide a vibrant backdrop for college life, with an abundance of restaurants, boutiques and entertainment options.
Lewisburg, a picturesque town located along the banks of the Susquehanna River, is home to Bucknell University, one of the nation’s premier liberal arts colleges. With its historic downtown, charming architecture and welcoming community, Lewisburg offers a unique small-town atmosphere that attracts students from around the world. This quaint college town in Pennsylvania is the perfect setting for those seeking a close-knit community and an academically enriching environment.
Lewisburg’s vibrant culture is a major draw for students and residents alike. The town boasts several art galleries, theaters and music venues. Lewisburg also hosts the annual Lewisburg Arts Festival, which features a variety of performances, exhibits and workshops. The town’s proximity to the Susquehanna River and the surrounding countryside offers numerous opportunities for outdoor recreation. From hiking and biking to kayaking and canoeing, students and residents can do it all with ease from Lewisburg’s convenient location.
Bethlehem, a historic city nestled in the heart of Pennsylvania’s Lehigh Valley, is home to Lehigh University and Moravian College. Known for its rich industrial history and emerging creative scene, Bethlehem offers a unique blend of tradition and innovation that attracts students from across the country. As one of the most charming college towns in Pennsylvania, Bethlehem provides an engaging and inspiring environment for students to grow and thrive.
The city’s historic downtown, featuring beautifully preserved 18th-century architecture, is a testament to Bethlehem’s rich history. Beyond that, the city’s thriving arts scene offers an exciting array of cultural experiences. From the annual Musikfest, one of the largest free music festivals in the country, to the Banana Factory Arts Center, Bethlehem is a hub of creativity and innovation.
A charming suburb located just outside of Philadelphia, Swarthmore is home to Swarthmore College, a prestigious liberal arts institution known for its commitment to academic excellence and social responsibility. The town’s lush green spaces, historic architecture and tight-knit community make it an ideal setting for students seeking a serene and supportive college experience in small-town Pennsylvania.
Swarthmore’s picturesque campus, often referred to as the ‘arboretum campus,’ boasts an impressive collection of trees and plants, providing a tranquil environment for students to study and relax. The town itself offers a variety of shops, restaurants and culture, including the Swarthmore Co-op and the Players Club of Swarthmore.
With its easy access to Philadelphia, Swarthmore students can enjoy the best of both worlds: the charm of a small-town college community and the excitement of a bustling urban center. Thanks to its idyllic setting and strong academic reputation, Swarthmore is a standout among the best college towns in Pennsylvania.
Find the perfect Pennsylvania college town for you
Pennsylvania’s diverse array of college towns offers something for everyone, from the vibrant urban atmosphere of Pittsburgh to the quaint small-town charm of Lewisburg. Each of these communities boasts a unique blend of culture, history and natural beauty, creating an inspiring and enriching environment for students to live, learn and grow.
Whether you’re seeking a serene campus setting, a bustling cityscape or a perfect balance between the two, the college towns in Pennsylvania featured above are sure to provide a memorable and fulfilling college experience for all.
Do you feel like you are stuck in a never-ending debt cycle?
Perhaps you keep getting out of debt, only to fall back into it shortly after. That is what a debt cycle is, and many people fall into this cycle and can’t seem to get out.
Falling into debt over and over again can lead to insane amounts of stress, unhappiness, sadness, and feelings of hopelessness. No one wants to experience these feelings.
But, I want to tell you that it IS possible to get out of the debt cycle.
Today, I will help you finally escape the debt cycle so that you can live the life you want.
Face your problem
Before we continue, you need to realize why you keep falling into a debt cycle. You should think about the answers to the questions below:
Do you feel like you deserve everything you buy?
Are you trying to keep up with the Joneses?
Do you have an emotional spending problem?
Are you afraid to face how much debt you have?
Do you feel like debt makes things seem more affordable?
Are you unprepared for emergencies?
Do you truly understand how debt and interest rates work?
Are you living paycheck to paycheck?
Do you live beyond your means?
Do you have credit card spending problems?
To get out of a debt cycle, you need to realize why you keep falling into debt. By understanding why you are falling into debt, you can begin to prevent yourself from falling back into a debt cycle.
However, until you dig deep and realize this, the debt cycle will never end.
Side note: I highly recommend that you check out Personal Capital if you are interested in gaining control of your financial situation. Personal Capital is very similar to Mint.com but 100 times better. Personal Capital allows you to aggregate your financial accounts so that you can easily see your financial situation. You can connect accounts such as your mortgage, bank accounts, credit card accounts, investment accounts, retirement accounts, and more. And, it is FREE.
Add up your total debt
This is related to facing your problem, as adding up your total amount of debt will help you realize how to gain control of your debt. This will help you to truly understand how much debt you are dealing with.
Plus, most people have no idea how much debt they have. By adding it up, you will have a more realistic view of your debt problem.
Create a budget
Most people have student loans, credit card debt, a mortgage, car loans, and sometimes many other forms of debt. However, not many people have a budget.
According to a survey done by Gallup, 68% of households in the U.S. do not have a budget.
Budgeting can help you take control of your financial situation so that you can stop the revolving debt cycle.
Read more at The Complete Budgeting Guide: How To Create A Budget That Works.
Pay off debt
In order to get out of the debt cycle, you’ll have to pay off your debt!
No surprise there.
Paying off your debt can lessen your stress levels, allow you to have more money to put towards something else (such as retirement), stop paying interest fees, and more.
Read more at How To Eliminate Your Debt.
Create a vision board
Having your financial goal displayed in front of you can make it that much more real, plus it’s nice to have a constant reminder of what you’re working towards.
Various ways to make your financial goal visual include:
Create a graphic that demonstrates your financial goal. I did some research and found a blog post on A Cultivated Nest about many creative ways to do this.
Keep a picture of your goal on hand. You could even go all out and create a vision board on Pinterest, or you can create a poster board of all of the things that debt freedom will allow you to do.
Write down what debt free life will be like for you.
Start an emergency fund
An emergency fund is something that everyone should have. However, according to a report by Bankrate.com, 26% of Americans have no emergency fund whatsoever. This same report found that only 40% of families have enough in savings to cover three months of expenses, with an even lower percentage having the recommended six months worth of savings.
This is scary to me, as having an emergency fund can greatly help you get through hard and unexpected situations that may arise.
An emergency fund can help if you:
Lose your job
Have your hours cut back
When your car breaks down
If you have a medical expense, and so on.
Plus, an emergency fund can help you get out of the revolving debt cycle. This is because if an emergency does arise, you won’t be forced to rely on debt in order to solve your situation. Instead, you’ll have your emergency fund to bail you out!
Read more at Everything You Need To Know About Emergency Funds.
Spend less than you earn
Too many people live paycheck to paycheck. This can lead to credit card debt, high interest rates, and more.
You should always be spending less than you earn. If you aren’t, then you need to find ways to cut your budget and/or increase the amount of money you earn.
Save more money
Finding ways to save more money may allow you to pay off your debt a little faster, improve your financial habits, help you reach your dream sooner, and more.
Read more at 30+ Ways To Save Money Each Month.
Make extra money
I believe that earning extra income can completely change your life in a positive way. You can stop living paycheck to paycheck, pay off your debt, and more, all by earning extra money.
In fact, because of extra income and my blog, I was able to pay off $38,000 in student loans within 7 months, leave my day job in order to pursue my passion, travel full-time, and more!
Making extra money can do something similar for you as well. It can help you break out of the debt cycle as you’ll be able to put more money towards your debt, and you will be able to spend less than you earn.
Related articles:
Try using just cash
If your problem with debt is that you don’t know how to correctly use credit cards, or credit cards or too tempting for you, then you may want to get rid of your credit cards and try using cash.
A cash budget is when you pay for the majority of your purchases in cash. Of course, there are certain expenses, like a mortgage payment, that you may not be able to do that for or that you may not want to do that for. For the most part, any and almost all spending is done with cash when a person is taking part in a cash budget.
A cash budget can help because:
It forces you to think about where your money is going
It can prevent impulse shopping and clutter
Spending actual cash “hurts” more than spending money with a credit card
Don’t keep up with the Joneses
Whether you are a young child and want that new toy everyone is playing with, or if you are a parent and are feeling the need to upgrade your house, car, etc., everyone has experienced wanting to keep up with someone else.
The problem with this is that keeping up with the Joneses can make you broke and fall into a revolving debt cycle.
When trying to keep up with the Joneses, you might spend money you do not have. You might put expenses on credit cards to, in a pretend world, “afford” things. You might even buy things you don’t really care about. The problems can go on and on.
This can then lead to a lot of debt and potentially set your financial goals back years, if not decades.
You should stop caring about what other people are buying, and, instead, only do what makes you happy.
Are you stuck in the revolving debt cycle? What are you doing so that you can get out?
My monthly Extraordinary Lives series is something that I really enjoying doing. First up was JP Livingston, who retired with a net worth over $2,000,000 at the age of 28. Today’s interview is with Jeremy, Winnie, and Julian, also known as the family behind Go Curry Cracker.
With the goal of traveling around the world, Jeremy and Winnie were in their 30s when they retired around six years ago. Their 3-year-old son travels with them and has already been to 29 countries as well!
They were able to do this by saving intensively – over 70% of their after-tax income.
In this interview, you’ll learn:
How they retired in their 30s.
What made them want to retire early.
How they live comfortably, rent houses with private pools, fly business class, and travel a ton – as opposed to the myth that early retirees are boring and just eat beans and rice to survive.
How they decided on the amount they needed to retire.
What they do about health insurance in early retirement.
And more! This interview is jam packed full of great information!
I asked you, my readers, what questions I should ask them, so below are your questions (and some of mine) about their story and how they accomplished so much. Make sure you’re following me on Facebook so you have the opportunity to submit your own questions for the next interview.
Related content:
1. Tell me your story. When did you retire and HOW?!
We are Jeremy, Winnie, and Julian, also known as the family behind Go Curry Cracker!
Winnie and I retired about six years ago with the goal of traveling the world. Traveling more in retirement is a pretty common goal, so I suppose the interesting bits are that we were still in our 30s and our 3-year-old son has now been to 29 countries.
What made our location and financially independent lifestyle possible was a decade of intensive saving – we were literally saving 70%+ of our after-tax income. Instead of buying stuff or experiences, we were investing in our future freedom.
Alas, we had already succumbed to some lifestyle inflation so we sold the house and moved into a small apartment, sold the car and started walking and riding bicycles, and turned our home kitchen into the best restaurant in town.
Unwinding lifestyle inflation is a huge mental challenge, but we both grew up on the edge of poverty so we had some experience with prioritizing purchases and finding solutions that didn’t require money. Nowadays, our investments pay all of our bills, and we could buy a house, buy a car, live a typical life… we just happen to not want those things.
Instead, for the past many years, we’ve basically spent the summer in Europe, autumn in the US, and winter in Asia. It’s not quite a perpetual summer vacation, but close.
2. Was early retirement always something you were striving for? What made you want to retire early?
Prior to 2002, we were both essentially following the normal life script – go to school, get good grades, get a job, etc… Maybe the only unconventional thing is I had student loan payoff as the #1 priority. Every story I heard about debt while growing up had a tragic ending, so I wanted to be debt free ASAP. I even cashed out all of my vacation time for five years or so to get extra pay. We also did crazy things like using 0% interest credit card offers to accelerate student loan payoff. Literally every extra penny went to the student loans.
When I finally got my head above water, I took a vacation, my first as an adult. After three weeks of scuba diving, fresh seafood, and tropical drinks, I looked back at where life in the real world was headed and thought, “This is it? This is the American Dream?”
Within six months the house and car were gone and the early retirement plan was underway.
3. Would you say that you live comfortably?
If by comfortably you mean do we rent houses with private pools, fly business class, and enjoy an occasional Michelin Star restaurant, then yeah, that sounds about right. Combined with 52 weeks of vacation per year and full autonomy, we are probably at an above average comfort level.
That may sound a little smug, for which I apologize, but I think it is important to truly understand the power of deferred consumption. We can only live as we do today because we didn’t live like this yesterday.
By living well beneath our means for just a small part of our total lifetimes (10 years +/-), something many would consider “uncomfortable”, we are now able to live well above the standards of even high-income households – just without the need to consume all of our waking hours with a high-income job.
In summary – yeah, life is good.
4. What career did you have before you retired? Did that career help you to retire earlier?
Winnie was a Program Manager for a large PC company, and I was an Engineer at a large software company.
I do wish we had those insane technology salaries that I sometimes hear about in the news, but our average combined income over our hardcore saving years was only about $135k. I guess I should have studied harder.
I think more than the job, my degree helped us retire early. I basically applied engineering principles to our finances and our lifestyle, trying to optimize for quality of life and low expenses. I then used that same mentality in designing our investment portfolio (100% index funds) and minimizing our taxes ($100k income with $0 income tax.) If I had studied art history or interior design, I probably would have thought about these things from an entirely different perspective, perhaps one that required more expensive furnishings.
5. What advice do you have for the average person that doesn’t make six figures a year who wants to retire early?
The core principle to follow is living well beneath your means, aiming for at least 50% savings rates. Or in 1950s parlance, live off one income and save the other. This recipe for financial success has worked for much of recorded history.
Of course, this is easier when making $100k than it is when making $10k, all else being equal.
For many average income households, it helps to change perspective: It isn’t that we can’t afford to save 50%, it is that we can’t afford our current lifestyle.
This is where we were when we got started, and some tough choices are ahead… it is necessary to either earn more, spend less, or wait (much) longer. Or all 3.
For households with incomes well below average, such as our families when we were growing up, it is absolutely necessary to grow income. Public assistance can help for a while (I’ve eaten a fair amount of government cheese), but ultimately skill development and probably even relocation to a job center are necessary.
6. Do you still earn an income in retirement?
We do. With all of this free time, it is fairly difficult to NOT do something that brings in some extra cash.
Last year Winnie published her first book (in Mandarin / Chinese) which was on the bestseller list in Taiwan for a while. About three years ago, Go Curry Cracker accidentally started to earn some affiliate income. I now actually try to run the site as a business, but limit myself to just a few hours per week.
I also employ a pretty aggressive long-term tax minimization strategy, which saves us thousands of dollars every year in taxes. I suppose that can also be thought of as extra income. We’ve actually reported about $100k annual income each of the last five years with income tax bills of $0.
For anybody who is interested, I do publish our full income statements and tax returns (business and personal) every year (linked to above). A lot of people have found those helpful to optimize their own finances.
7. How did you decide how much you needed to retire?
We set a target to have an investment portfolio worth 25x our desired cost of living in Seattle, where we were living at the time, although we were spending much less to turbocharge our savings.
25x is just the standard 4% Rule, which (in oversimplified terms) says you can annually spend an inflation adjusted 4% of your portfolio, probably forever. So, say if you wanted to spend $40k/year, you would need $1 million. That was our minimum.
When we hit that target, Winnie stopped working, and I continued on for about three more years, during which we were just living off dividends, so we were essentially investing 100% of my paycheck.
We also wanted the portfolio to continue to grow so we could leave a bit of a legacy, so even after we stopped working, we wanted to continue living beneath our means. We did this by living large in Mexico and Guatemala rather than Paris or Tokyo. And as luck would have it, the stock market performance over the past five years has been pretty good, so our portfolio just continues to grow, and we can’t spend it fast enough.
8. What sacrifices or hard decisions did you have to make?
This may sound cliché, but I don’t think of anything we did as a sacrifice – we just employed a suggestion my grandmother used to make all the time, “Hey there, you hold onto your britches now young man!” Roughly translated from the original Minnesotan, I think that means “slow down.” In other words, hold off on the lifestyle inflation for a while.
When people rush out to buy their dream house (with rented money) or a new car or a big vacation, they are sacrificing their future for immediate consumption. We just waited a little longer, and along the way we discovered that none of those trappings of success have any real meaning to us.
But of course, when society and advertisers are screaming at you that you need to consume and upgrade, it can be difficult to pause and reconsider. We avoided a lot of that by not owning a television and using the great outdoors for entertainment.
9. What do you do about health insurance in early retirement?
For many years, we were self-insured and just paid cash for any medical needs. We paid $3 for a doctor visit in Mexico, $20 for some dental care in Thailand, $50 for a chest X-ray in Taiwan, and $90 for a visit to the emergency room in Portugal. Medical tourism is your friend. What we weren’t spending on health insurance, we invested in more index funds, building our own healthcare fund.
If we were in the US, we would buy health insurance on the State or Federal Health Exchanges. The US health system is all kinds of messed up, so without insurance you are only one minor incident from total financial devastation.
As of about six months ago, we are now all covered by the Taiwan national health system, which is a single payer universal healthcare provider. We pay about $25/person/month for great coverage, which includes dental. (Hot tip: marry somebody from a country with a good health system.)
10. Will you be planning a place for your child to make long term friendships and connections? Do you plan to continue travel when your child is school age?
We like the idea of homeschooling up to age 10 or 12 or so, but we are still figuring it out. Even so, it probably won’t be all or nothing (Julian is enrolled part time in a Montessori pre-school now.)
The pros/cons of life-in-place vs nomadic living is such an interesting discussion for us, because we are inherently a global family (our nuclear families are spread across 2 countries, 3 States, and 6 cities) and despite our very different backgrounds, we independently concluded that the idea of “home” for us isn’t really a place.
Our thinking comes from our existing communities – Winnie grew up in a big city (Taipei), and she has friends from back in the 3rd grade who all have kids around the same age as Julian. When we are in Taiwan, we all get together and it is like they never missed a beat. It’s a beautiful thing.
I grew up in a small town in Minnesota, and 99% of my childhood / high-school friends and family moved away for college and career. There is literally no one place I can go where all long-term friendships and connections exist, and yet I have them, just spread around the world. It’s also a beautiful thing.
We try to get quality time with all of our family every year, which is much easier now that we don’t have jobs. 2 years ago, we had 4 generations together for a week on a lake, with Grandma, my parents, my sister and 2 brothers and spouses, and their 9 kids. This year we took my Mom and Grandma on an Alaska Cruise, and also spent a couple weeks with all of Julian’s cousins. Next year will be something special again, and we all stay in touch via Skype. We also plan on having more kids, which means sibling connections.
What we do will change and evolve as we learn more and figure things out, but overall, we’ll listen to our kids, make sure we have regular quality time with family, and stay connected with friends and family via Skype. And everywhere we go, we build community with friends, family, and other adventurers. I think it will be the same for the next generation.
11. What hardships come up when traveling with a child and what do you do about it?
The hardships of traveling with a child are largely the same as the hardships of parenting. Kids have needs and wants, and if they aren’t addressed in a timely fashion then chaos ensues. As with most things, an ounce of prevention is worth a pound of cure – and even then, things go awry.
Where most families have to balance child rearing with a career and fixed schedules, we have a great deal of flexibility. Seldom are we schedule driven, and when we are (e.g. a flight departure time) we avoid other commitments. We also aren’t doing the quick 1 week vacation thing, with a lot of time getting from A to B and a whirlwind of tours and activities; that’s much too intense and exhausting. We are more so living our normal lives, just in different locations. We play at the park daily, take naps, explore by foot, and enjoy the local delicacies. If we are having too much fun at the park, we can always see the museum tomorrow. Somehow, we usually manage to see the highlights.
Since we aren’t always in one location with a regular schedule, we focus on having routine in the absence of routine. We have regular toys, regular nap time, and a bedtime ritual which involves a bath, songs, and books. Plus we all co-sleep, so we are together 24/7. It’s hard to provide a stronger sense of security than parental presence.
It all seems to be going well; Julian is a happy, healthy, normal kid. He loves being outside exploring, enjoys meeting new people, and is always ready for the next plane, train, or automobile.
12. If you were starting back in the beginning, what would you do differently from the beginning?
We made a lot of mistakes… buying a house, buying a car, spending money without a long-term plan, but I don’t know if I would change any of them. Those mistakes helped us grow and appreciate where we are today. For example, we are Renters for Life, but we probably wouldn’t really appreciate the total joy and financial advantages that come with not owning a deteriorating wooden box.
If I could go back in time and tell my younger self, “Hey, read this Go Curry Cracker blog, you’ll learn a lot!” we could probably have become Financially Independent 3 to 5 years earlier. That’s a lot, considering my entire career was only 16 years, but it’s not that that much in an 80 – 100 year life span.
But, what I would do differently:
invest only in index funds from the beginning
not waste my time dabbling in rental properties
always live within biking distance of work and prioritize biking and walking
always rent
learn to cook well sooner
start travel hacking sooner instead of paying for vacations
13. Lastly, what is your very best tip (or two) that you have for someone who wants to reach the same success as you?
Design your life so that saving a high percentage of income is the natural and ordinary outcome.
Aim for saving 50%+ of after-tax income, and minimize taxes
Certificates of deposit (often simply called CDs), by definition are time deposits. You give your money to the bank and then promise not to touch it for a specific length of time. In general, the longer you agree to let the bank keep your money via a CD investment, the higher the interest rate you will receive.
If certificates of deposit offer higher returns than a savings account, then why doesn’t everybody use them? The primary reason is that a CD investment is less liquid than a savings account in that you can’t just move money in and out without penalty as you can in a savings account. You can take your money out of a CD before it “matures,” but you are docked interest when you do. In fact, it is typical for a bank to penalize the interest amount even if it hasn’t been earned (meaning you could lose part of your principal if you close your CD early).
Anatomy of a CD
I was fortunate to win a $1,000 6-month certificate of deposit from ING Direct recently. (I never win anything!) Looking at it might be instructive:
Reviewing this screenshot, you can see that a certificate of deposit has an initial value (in this case, $1,000), an interest rate (3.50%), and a term (6 months). In other words, this is very much like a loan that I am making to the bank.
You can also see that the bank has an “Early Redemption Policy” that states that I would sacrifice three months’ interest if I chose to redeem this CD early, whether the interest has been earned or not. Because I have held the CD less than a month, I would actually sacrifice part of my principal if I were to close the account now.
When this CD investment matures on April 9th, I will have $1,017.28. Obviously $17.28 isn’t a huge return, but it’s important to remember that interest rates are low right now. (Also consider that if my $10,000 emergency fund were all in CDs, I would earn $172.80 in six months.)
Another important difference to be aware of is that, unlike a savings account, a certificate of deposit ends after a set amount of time. What happens at the end of the term depends on the arrangements you have (or have not) made with your bank. (I explain this further below.)
CD Tips and Tricks
A certificate of deposit is a great way to put your savings on steroids, so to speak, but there are ways to make them even better. Here are a few tips and tricks that can help you get the most out of your investment.
Use CDs to beat falling interest rates. When the Federal Reserve cuts short-term interest rates, you feel the pinch in your savings account. Certificates of deposit are a great way to buy yourself “protection.”
When you see a rate drop coming, open another CD. For example, the Federal Reserve just cut short-term rates another 0.50 percent last week. I would be shocked if banks didn’t follow suit, lowering the interest on their savings accounts. ING Direct could go as low as 2.25 percent.
When you see an interest drop coming, take some money from your savings account and throw it into a 6- or 12-month certificate of deposit, locking in the higher rate. (My web research hasn’t revealed what causes CD rates to move, but they do not move in lockstep with savings accounts.)
Climb the CD investment ladder. Just as you might use dollar-cost averaging to profit from fluctuations in the stock market, you can use a “CD ladder” to profit from fluctuations in interest rates.
Say you have $5,000 to invest. To build a CD ladder, you would invest the money in CDs with staggered maturation dates:
$1,000 in a one-year CD
$1,000 in a two-year CD
$1,000 in a three-year CD
$1,000 in a four-year CD
$1,000 in a five-year CD
As each CD matures, you immediately invest your money in a new five-year CD, effectively maintaining the one-year stagger, or ladder. You won’t earn the best possible rate of return, but you will earn a good one, and your income will be relatively constant. The CD ladder is also a form of diversification: you’re not betting all your money on one interest rate.
Protect yourself with parallel CDs. One of the biggest risks to your investment in a certificate of deposit is the need for early withdrawal. What if something happens and you need to pull the money out? As we’ve seen, this can be expensive. Nickel at Five Cent Nickel suggests mitigating your risk with parallel certificates of deposit.
Again, assume have $5,000 that you’d like to put into CDs. Instead of opening a single certificate of deposit for the full amount, consider opening multiple CDs. You might open three CDs at once, for example: two $1,000 CDs and one $3,000 CD.
This gives you a buffer in case you need to get at the money early. If you find you need $500, you can break a single $1,000 CD and the rest of your money is safe from penalty.
Related >> Beginners’ Guide to Investing
Beware of auto-renewals. Nicole wrote last week because she was surprised to find that her certificate of deposit at Countrywide had automatically renewed at the maturation date. Many (most?) banks will do this unless you instruct them not to.
If you know you’re ready to pull your money out of a certificate of deposit, be sure to contact your bank to find out the proper procedure for doing so. Nicole found herself locked into another twelve month CD when she needed the money now. If she broke the contract, she would be forced to sacrifice 180 days interest, whether earned or not.
(Note that Nicole’s story had a semi-happy resolution. She knows to speak up when something seems wrong. Countrywide wouldn’t let her out of the CD investment entirely, but “I was able to negotiate a compromise to transfer the money to a 3-month CD, rather than the 12 month CD. Although the interest rate is lower, I will be out in 3 months, which isn’t too bad.”)
Shop around. As with any financial decision, it pays to shop around for CD rates. You may find that your local bank actually offers a better deal on certificates of deposit than the online banks.
For example, my local credit union only offers 0.35% on its regular savings account, but its CD rates are competitive with (and sometimes higher than) ING Direct. Since I keep my checking account at the credit union, it might make sense for me to hold my CDs there. (In this case, however, they’re not high enough to make me switch; I’d rather track everything in one place at ING.)
Here’s my list of current CD rates from online banks.
CDs in Practice
I’m new to the certificate of deposit, but I can already see some uses for it. My $10,000 emergency fund, for example, is currently earning 2.75%. I may instead create a series of parallel CDs, as described above.
Also, I’m saving for my Mini Cooper. That money is also earning 2.75%. I’m nowhere close to buying the car, though, so I might as well put it into a certificate of deposit, too.
Though certificates of deposit are new to me, I’m sure that most of you have been using them for years. What tips and tricks can you offer? Do you have favorite sources for CD investments? How do you decide which money to keep there and which to keep in a savings account?
Identifying the Best CD Rates
It is important to think through how best to use a certificate of deposit in your overall financial plan, but it starts with understanding your goals and how a CD can help you reach them. Interest rates change constantly, so having up-to-date rate information is critical to identifying the best CD rates and terms to make the most of your investment. We have made the whole process easier in a convenient page that is updated weekly with the most current interest rates.
Different strategies can help you capitalize on fluctuating interest rates too. A CD ladder can help you maintain a relatively constant income no matter how current CD rates change. A parallel CD strategy can help you maintain some accessibility to your funds during the term. Richard Barrington’s post can help you understand how to find the right CD but do shop for the highest CD rates and terms regularly to maximize your return. Bookmark this page as well so you can easily come back to our table to check rates and terms as often as you want.
Current Certificate of Deposit Rates
An online account is arguably one of the most convenient ways to manage CDs and, generally speaking, online banks offer higher rates than traditional brick-and-mortar institutions. The following listings of online banks are updated weekly too, and a little more information about each bank is given next to each listing as well. Credit unions and savings associations are also sources of CDs and other deposit accounts.
CD Basics
A certificate of deposit, or CD, is a deposit account that is generally considered a very low-risk investment. You might also hear it described as a time deposit because it is not a liquid asset that can be accessed on demand. Instead, the amounts deposited into a CD are expected to remain untouched for a specific period of time, which is the term of the CD. In exchange, the bank will pay you a fixed rate of interest. Example investment: You put $10,000 in a 5-year certificate of deposit at an interest rate of 1.75%. At the end of five years, with interest compounded daily, you would have $10,914.
Early withdrawal penalty – The full value of the CD (your principal plus the interest earned) is accessible when the term has been reached; however, there is usually a penalty if you withdraw your funds before the end of the term. This means that the bank will keep a portion of the interest earned, which could also cut into the original principal balance if the CD has not accrued enough interest to satisfy the entire penalty yet.
For example, if a depositor wishes to close a one-year CD account after two months but the bank’s policy states that an early withdrawal penalty equal to three months’ interest would be due in that event, then the bank will dip into the depositor’s principal balance to make up for the shortfall between the interest earned and the penalty. Early withdrawal penalties vary from bank to bank, and this is another important item to consider as you shop for the best CD rates and open your new account.
Fixed interest rates – Even though interest rates change regularly, banks usually offer a fixed interest rate that doesn’t fluctuate, allowing you to lock in that particular rate for the entire term of your CD. Banks are willing to fix the interest rate, which is generally higher for certificates of deposit than for most savings accounts, because the funds remain on deposit with the bank untouched for that specific period of time. (In general, the longer the term, the higher the interest rate for a CD.)
FDIC insurance – The Federal Deposit Insurance Corporation insures most certificates of deposit so that the balance of your CD will be paid to you even if the banking institution becomes insolvent for some reason. The standard deposit insurance coverage limit is $250,000 per depositor, but it is important to verify the amount of FDIC insurance that applies to the particular CD accounts you open.
High Interest CDs that Can Double Your Interest Income
According to the FDIC, five-year CD rates (certificates of deposit or CDs) are currently averaging just 0.75 percent nationally. Fortunately though, not all CDs are created equally. Here are 10 CDs that offer at least double the interest income that today’s average account provides:
iGOBanking. Forget the awkward name and focus on the rate: Annual percentage yield (APY) is 0.35 percent on a five-year CD. iGOBanking is the online division of Flushing Bank. Though Flushing Bank is quite small, with deposits of less than $600 million according to FDIC data. The minimum deposit is just $1,000, so the iGOBanking CD is readily accessible. The penalty for early withdrawal is 12 months now. (Rate as of July 5, 2016.)
EverBank. EverBank has made a commitment to offering high interest rates by pledging to keep its CD rates in the top 5 percent of comparable products. With a 1.76 percent APY on its 5-year CD, it seems to be living up to that pledge. (Rate as of July 5, 2016.) EverBank’s 17 branches are all in Florida, but its products are available to a national audience online, and with more than $10 billion in deposits, they have built up a fairly substantial customer base. The minimum to open is a reasonable $1,500, but the only catch is a hefty penalty for early withdrawal — equal to 900 days of interest on its five-year CD.
Nationwide Bank. This online banking affiliate of the insurance giant offers a five-year CD with a 1.95 percent APY for balances between $0 and $9,999.99 and a minimum of $500 to open. That APY bumps up to 2.00 percent for deposits of $100,000 or more. These strong rates do require a long-term commitment, since the early withdrawal penalty is 360 days of interest. (Rates as of July 5, 2016.)
Barclays Bank. Barclays is an international banking powerhouse, and it offers a very competitive five-year CD with a 2.65 percent APY. This rate applies to its online CD, which has the added advantages of having no minimum balance requirement and the penalty for early withdrawals is 180 days. (Rate as of 05 March 2018.)
GS Bank. GS Bank’s five-year CD has a 2.00 percent APY and a user-friendly $500 minimum deposit to open. There is a 270-day early withdrawal penalty, so make sure you are committed for at least a couple years if you choose this product. (Rate as of July 5, 2016.)
BBVA Compass. Though most of these highest-yielding CDs are found at online banks, BBVA Compass also offers a traditional, branch-based alternative with 716 locations. The account minimum is just $500, and the rates may reach as high as 2.00 percent APY for a four-year term, depending on which branch location you visit. Rate collected within: Birmingham, AL: 0.50%(Rate as of July 5, 2016.)
Ally Bank. One of the leaders in online banking, Ally has built itself up to more than $40 billion in deposits. The 1.65 percent APY on its five-year CD is well over twice the national average, but there is a 150-day early-withdrawal penalty. Still this CD is an excellent choice even if you think that rates might rise within the next five years. (Rate as of July 5, 2016.)
Sallie Mae. Sallie Mae is probably better known for student loans, but it also offers online deposit products, including a five-year CD with a 1.80 percent APY and a $2,500 minimum deposit. The early withdrawal penalty is equal to 180 days of interest. (Rate as of July 5, 2016.)
Discover Bank. Though the Discover name is more commonly linked to credit cards, Discover Bank also has more than $40 billion in deposits. Its five-year CD rate offers an APY of 1.85 percent with a $2,500 minimum deposit to open and an early withdrawal penalty equal to what can be up to 18 months of interest. (Rate as of July 5, 2016.)
The above are not necessarily the 10 highest-yielding five-year CDs in the country. They were chosen because their rates are at least twice the national average, they are available in multiple states and they have relatively user-friendly websites. You may find additional options in your area, but the points discussed above can still provide you with some framework for what criteria to consider — including rates, minimums and penalties — when choosing a CD.
Have you been able to find CD rates that rival these? If so, please add a comment below. Don’t forget to include the details: name of the bank, state, rate, when you opened the account with this rate, and whether you can open the account online or must appear in person.
A credit union is a nonprofit institution that’s owned by its members. Compared to a traditional bank, a credit union tends to offer more personalized service.
You can turn to a credit union for a variety of financial products, like checking and savings accounts, credit cards, car loans, and mortgages. Some regional and federal credit unions also offer wealth management services and other extras.
A typical credit union only accepts members who live in a specific region or work for an eligible employer. For example, they may require that you’re a resident of Atlanta, Georgia or work as a teacher.
The good news is some credit unions require less and make it easy for just about anyone to join. If you’d like to join a credit union but don’t want to worry about the strict membership requirements at most institutions, you’ve come to the right place.
38 Best Credit Unions Anyone Can Join
There are hundreds of credit unions that anyone can join, but we’ve done the heavy lifting and found the best ones for you. The credit unions below, which are overseen by the National Credit Union Administration (NCUA) may be an option for you, regardless of what you do for a living or where you’re located.
Just keep in mind that you may have to make a donation, join an organization, live in a certain state, or meet some other eligibility requirement. We encourage you to explore this lengthy to list of credit unions anyone can join so you can hone in on the ideal credit union for your unique situation.
1. Alliant Credit Union
Alliant Credit Union made its debut in 1935 to serve the employees of United Airlines. It stands out for it high-interest savings and checking accounts with low minimum opening deposits as well as excellent customer service.
You’ll also receive access to more than 80,000 free ATMs across the U.S. and get reimbursed up to $20 in out-of-network ATM charges per month. Since it only has two brick-and-mortar locations, you should feel comfortable with online banking. If you’d like to join Alliant Credit Union, make a $5 donation to Foster Care to Success.
2. Connexus Credit Union
Connexus Credit Union was founded in 1935 and has a widespread presence in Wisconsin as well as more than 54,000 ATMs across the country. It couldn’t be easier to join the credit union as all you have to do is pay a one-time $5 fee to the Connexus Association, which supports financial education through college scholarships.
As a member, you can open one of its three checking options with high APYs and a traditional savings account or one that’s specifically designed for the holidays.
3. Pentagon Federal Credit Union
Pentagon Federal Credit Union, or PenFed, was founded in 1935 as a credit union for military and civilian government. Today, this Virginia-based credit union has opened it doors to anyone as long as they open a savings account and deposit a minimum of $5. It offers two savings accounts, including the Regular Savings and Premium Online Savings.
In addition, you can find checking accounts, CDs, and money market accounts. Other products include Coverdell Education Savings Certificates, IRAs, credit cards, mortgages, home equity loans, and student loans. Plus, you can enjoy modern perks like mobile check deposits, online bill pay, and instant transfers.
4. First Tech Federal Credit Union
First Tech Federal Credit Union is headquartered in California. The credit union offers many benefits, such as excellent customer service, many branches throughout the U.S. and Puerto Rico, online banking, and mobile banking.
It also has the Dividend Rewards Checking Account, which gives you 1.00% APY on balances below $1,000. You don’t have to live in California to join as long as you donate to a nonprofit called the Financial Fitness Association.
5. Consumers Credit Union
Consumers Credit Union was established in 1951 as a local credit union. Based in Illinois, it’s one of the largest credit unions in the state with over 100,000 members and more than $1.2 billion in assets.
You can join it, even if you don’t live in Illinois. All you have to do is donate the $5 membership free to an affiliated nonprofit. You can open almost all of its accounts online, except for the checking accounts and IRAs. The credit union also offers a high-yield checking account that offers high interest if you meet certain criteria.
6. Langley Federal Credit Union
Langley Federal Credit Union is based in Virginia and made its inception in 1936. At that time, members of the National Advisory Committee for Aeronautics, the predecessor to NASA, chartered the credit union.
Today, Langley offers membership to anyone who pays a fee to support an important cause in Virginia and deposits at least $5 into a savings account. You can choose from a checking account without a monthly fee, a variety of no-fee savings accounts with competitive interest compounds monthly, and Visa Cards with cash back rewards.
7. Lake Michigan Credit Union
Lake Michigan Credit Union made its debut in 1933 by a group of teachers. Headquartered in Grand Rapids, Michigan, it has 51 branches in Michigan and southwest Florida. Since it’s part of the Allpoint ATM network, members can enjoy free access to more than 55,000 free ATM.
To join, donate $5 to the ALS Foundation and deposit $5 into a Member Savings account. Once you do, you can earn perks through the MORE rewards program and redeem them for complimentary checks and free out-of-network ATM transactions.
You may also open the free, no frills Max Checking account. Note that the Member Savings account, which you must open to become a member, requires a minimum daily balance of $300 or you’ll be charged a $5 monthly fee.
8. Lafayette Federal Credit Union
Lafayette Federal Credit Union was founded in 1935 as an alternative to traditional banks. It offers numerous perks, like no minimum balance requirement or monthly maintenance fees, online banking, mobile deposits, free direct deposit, and special discounts.
You can join it if you live, work, worship, or attend school in Washington D.C. If you live outside the D.C. area, you may still become a member as long as you invest in a lifetime Home Ownership Financial Literacy Council (HOFLC) membership for only $10. This nonprofit focuses on helping consumers navigate the path to homeownership.
9. Affinity Plus Federal Credit Union
Affinity Plus Federal Credit Union has 26 branch locations across Minnesota. APFCU offers MyPlus Rewards that gives you points if you keep a certain amount of money in your bank account or use its debit or credit card.
To be eligible to join, all you have to do is donate $25 to the Affinity Plus Foundation and open a basic savings account. If you live and work in Minnesota or have a family member in the state, there are other ways to become a member.
10. Chevron Credit Union
Chevron Credit Union has been around since 1935 and has 19 branches that span six states, including California, Louisiana, Mississippi, Texas, Utah and Virginia. It operates under two brands: Chevron Federal Credit Union and Spectrum Credit Union.
To become a member, join one of its nonprofit partner organizations, such as the Contra Costa County Historical Society. You’ll also need to deposit $25 into a primary savings account and maintain a $25 minimum balance.
Chevron also offers a second chance checking account called New Solutions for those who need help rebuilding their banking history.
11. Ascend Credit Union
Since its inception in 1951, Ascend Credit Union has offered a variety of products, like checking and savings accounts, a money market account, Christmas Club account, youth accounts, credit cards, and loans.
If you’re interested in these services, join The Nature Conservancy, Tennessee Chapter and you’ll be eligible automatically. Note that there is a one-time fee of $25.
12. Hope Credit Union
Hope Credit Union is a black-owned credit union that was organized in 1995 by the Anderson United Methodist Church in Mississippi. You can join if you pay a $10 membership fee and show a foreign passport, permanent resident card, or Matricula Consular. Plus, you may use an ITIN number instead of a Social Security number.
Hope Credit Union provides a number of personal bank accounts, business banking accounts, and transformational deposits. With its transformational deposits, you can participate in socially responsible investing.
13. Boeing Employees Credit Union
Boeing Employees Credit Union, or BECU, was established in 1935 for Boeing employees and currently caters to more than 1 million members. But despite its name, you don’t have to work at Boeing to join.
Its products and services are available to you if you become a member or donor to the KEXP, which is a nonprofit art organization or the Sea Hawkers Central Council. The most noteworthy benefit of joining is the first-time homebuyer grant in which you can receive $7,500 toward your down payment and closing costs.
14. Hiway Credit Union
Hiway Credit Union made its debut in 1931 to serve employees of the Minnesota Department of Transportation. It offers a free checking account with no monthly fee or minimum balance requirements, a free money market account with a $500 minimum deposit, credit cards, and loans.
You can qualify for a Hiway Federal Credit Union membership if you donate to the Minnesota Recreation and Park Foundation for $10 per year or the Association of the U.S. Army, which costs $40 for two years.
15. GreenState Credit Union
GreenState Credit Union was founded in 1938. It provides its members with personal accounts, business accounts, credit cards, loans insurance, wealth management services, and more.
GreenState was named one of the fastest growing credit unions in 2021. As long as you live or work in the state of Iowa, you can become a member and take advantage of its services without any issues.
16. Cascade Credit Union
Cascade Credit Union made its debut in 1952 to serve employees of the Cascade Division of the Great Northern Railway. Today, it’s open to many people and offers great perks like members-only sweepstakes, competitive rates, online banking tools, financial counseling, and group insurance benefits.
If you’d like to join, simply become a member of the Great Northern & Cascade Railway Association (GNCR) and pay an annual membership cost of $40. The credit union can help you fill out your application online or in-person at a local branch.
17. Wildfire Credit Union
Wildfire Credit Union began in 1937 as Saginaw Telephone Employees Credit Union, its original credit union name. Its first location was in the basement of the home of Hank Kosk, the credit union’s treasurer.
After some office upgrades, the credit union opened the doors to its current location on Bay Road in Saginaw and merged with Flint Telephone Employees Credit Union that same year. Today, Wildfire Credit Union offers several deposit accounts as well as personal banking and business banking services. You can join if you live, work, worship, or attend school in Michigan.
18. Nextmark Credit Union
Nextmark Credit Union made its debut in 1958. Its offerings include personal and business checking, home equity loans, personal loans, credit cards, gift cards, and more.
To join, you must live in a qualifying county in Virginia or make a donation to Herndon Elementary PTA, a Title I school.
19. Technology Credit Union
Technology Credit Union, or Tech CU, was established in 1960. It’s based in Silicon Valley and provides its members with no shortage of benefits. These include competitive rates, online banking, access to fee-free ATMs, free credit score monitoring, conference room space, and easy online appointment booking. To become a member, join Financial Fitness Association for only $8.
20. Veridian Credit Union
Veridian Credit Union was established in 1934. Most of its members are those who live or work in Iowa or certain counties of Nebraska. However, it’s open to anyone who is a registered user of Dwolla, a financial technology company. This means you can join as long as you sign up for a personal account at Dwolla.
You’ll also need to open a savings account and deposit at least $5. If you’re already a member of a credit union or bank but would like to switch to Veridian Credit Union, the switch kit may be helpful.
21. Harborstone Credit Union
Harborstone Credit Union’s roots date back to 1955, when it was known as McChord Federal Credit Union and served airmen on the McChord Air Force Base. In 1996, the credit union expanded its membership to anyone in the state of Washington and changed its name as a result.
As long as you live, work, or worship in Washington, you may join Harborstone Credit Union and enjoy a variety of financial products and digital tools.
22. NASA Federal Credit Union
NASA Federal Credit Union began in 1949 to serve NASA employees. Since then, it’s grown to more than 177,000 members. While the credit union is headquartered in Upper Marlboro, Massachusetts, there are 12 branches in Maryland, Virginia, and Washington, DC.
Its product lineup includes a simple checking account with no minimum opening deposit, a savings account with a great rate, and several CDs. You can also monitor your credit score and make deposits with the mobile app. If you don’t work for NASA, you can still join. Simply sign up for a one-year membership at the National Space Society (NSS).
Hanscom Federal Credit Union opened in 1953. The credit union has over 20 branches in and around Boston as well as one in McLean, Virginia. It offers fee-free checking accounts, savings accounts with rewards, credit cards, and loans.
To join, you’ll need to support one of its partner organizations, such as the Burlington Players, a volunteer theater group. In addition, you’ll be required to deposit $25 into a free primary savings account.
24. Pen Air Federal Credit Union
Pen Air Federal Credit Union was founded in 1936 to support civil service employees of Naval Air Station Pensacola. It has 16 locations in northwest Florida and southeast Alabama. You may be surprised to learn that you don’t have to be an active duty or retired military member to join.
You’ll be able to take advantage of Pen Air Federal Credit Union if you become a member of the Friends of the Navy-Marine Corps Relief Society and deposit a minimum of $25 into a savings account. As a member, you can enjoy the Pen Air Platinum Mastercard, Share Savings account with the Round It program, and more.
25. State Department Federal Credit Union
State Department Federal Credit Union was founded in 1935. To join, you can become a member of the American Consumer Council for $8. This is a non-profit organization with a focus on consumer education and financial literacy.
The State Department Credit Union offers a long list of products and services, including basic, advantage, and privilege checking, a money market account, share certificate accounts, individual retirement accounts (IRAs), credit cards, and loans.
26. United Nations Federal Credit Union
United Nations Credit Union made its debut in 1947. As long as you join the United Nations Association of the United States of America, you can become a member.
UNFCU has a vast product lineup that includes a checking account, membership savings account, credit cards, debit cards, and loans, like car loans and debt consolidation loans.
Other membership perks include loyalty rewards, credit card rewards, and the member referral program.
27. Premier Members Credit Union
Premier Members Credit Union was established in 1959 for members of the Boulder Valley School District. You’re eligible to join if you make a donation to Impact on Education, a charity in the Boulder Valley School District, and open an online savings account or youth savings account.
As a member, you can expect perks, such as high interest rates on checking accounts, no monthly service fee, no overdraft fees, and free overdraft protection. The credit union also offers an extensive network of branches and ATMs for your convenience.
28. SRI Federal Credit Union
SRI Federal Credit Union is headquartered in Menlo Park, California. It was founded in 1957 and offers membership to anyone who joins the Financial Fitness Association for $8 per year.
The credit union’s account offerings include a checking and savings account, money market account, IRA, health savings account, and youth, teen, and gradate accounts.
29. United States Senate Federal Credit Union
United States Senate Federal Credit Union has been around since 1935. Its mission is to “improve the financial wellness of members throughout all stages and circumstances of life.” Its products are similar to what most credit unions offer.
As a member, you can enjoy access to a number of checking and credit union savings accounts, mortgage loans, personal loans, auto loans, Visa debit cards, and business advisory services. To join, you’ll need to become a member of the U.S. Capitol Historical Society for $65.
30. Wings Financial Credit Union
Wings Financial Credit Union was founded in 1938 by seven employees from Northwest Airlines. To date, it serves more than 320,000 members with more than $7.5 billion in assets. You can join if you donate $5 to the Wings Financial Foundation, even if you don’t work in the aviation industry.
There are no fees on its basic banking accounts, including its checking and savings accounts, a money market account, and CDs. Its high yield savings and checking accounts offer competitive rates to help you grow your money.
31. Skyward Credit Union
Skyward Credit Union was chartered in 1941. It offers a share savings account with competitive rates, an aim higher checking account with no monthly fees or minimum balance requirements, affordable mortgage and home equity loans.
It also offers online banking, a variety of insurance products, and access to over 30,000 surcharge-free ATMs. Like most credit unions require membership, so does this one. To become a member, join the Kansas Aviation Museum.
32. San Diego County Credit Union
San Diego County Credit Union has been around since 1938 and has over 430,000 credit union members. It’s considered the largest locally owned financial intuition in San Diego.
As a member, you can enjoy a free checking account, secured and unsecured credit cards, a wide range of account options with no service fees, and access to over 30,000 ATMs without ATM fees. To join San Diego County Credit Union, become a member of the Financial Fitness Association.
33. Bellco Credit Union
Bellco Credit Union is a Denver-based credit union that opened its doors in 1936. You can join it even if you don’t live in Colorado as long as you donate at least $10 to the Bellco Foundation, pay a one-time $5 membership fee, and deposit at least $25 in a savings account.
Once you do, you’ll have access to several noteworthy products, like the Boost Interest Checking account, which offers a competitive interest rate, the Premier Money Market Account, and two, no-fee credit cards.
34. Bethpage Federal Credit Union
Bethpage Federal Credit Union was founded in 1941 and currently has over 30 branches across Long Island and New York City. It has a reputation for competitive rates on it money market accounts and certificates of deposit (CDs).
The credit union also offers three checking accounts, a few savings accounts, retirement planning services, IRAs, insurance, and more. You don’t have to live in New York to join if you open a $5 savings account. As a member, you may meet with credit union staff virtually and bank on the go with a handy mobile app.
35. First South Financial Credit Union
First South Financial Credit Union opened its doors in 1957 to serve those on the Millington base. Since then, it has become of the safest financial institutions in the U.S., as stated by independent rating agencies. While the credit union has locations throughout Tennessee and Mississippi, its online banking services make it a suitable option if you live elsewhere.
Like other credit unions, it offers a full suite of checking, savings, CDs, and IRA accounts. To join, become a member of the Courage Thru Cancer Association, which supports St. Jude Children’s Research Hospital.
36. Dow Credit Union
Dow Credit Union was founded in 1937 in Midland, Michigan. It provides numerous products, including checking and savings accounts, certificates of deposit (CDs), HSAs, deposit trust accounts, and loans.
Fortunately, you don’t have to work at Dow Chemical to take advantage of them. To join, make a $10 donation to the Dow Chemical Employees’ Credit Union Endowed Scholarship Fund.
37. Blue Federal Credit Union
Blue Federal Credit Union was chartered in 1951 as Warren Federal Credit Union. If you’re looking for a high-yield checking account, you’ll appreciate its Blue Extreme Checking Account with no minimum opening deposit or monthly service fees.
Other perks include a tiered membership rewards program and round-the-clock customer service. The easiest way to become a member is to donate $5 to the Blue Foundation and open a Membership Share Savings Account with $5.
38. Digital Federal Credit Union
Digital Federal Credit Union (DCU), based in Marlborough, Massachusetts, was established in 1979. Today, it is known for its comprehensive range of financial products that includes checking and savings accounts, auto loans, mortgages, personal loans, credit cards, and wealth management services.
Perhaps one of DCU’s standout features is its commitment to digital banking, offering robust online and mobile platforms that compete with larger, nationwide banks. This makes DCU a fitting choice for those who prefer online banking, no matter where they live.
Membership is open to those who are a part of participating organizations or live, work, worship, or attend school in eligible communities. If you don’t fit those criteria, you can still join by becoming a member of a participating nonprofit organization, such as Reach Out for Schools, which requires a nominal donation.
See also: Best Nationwide Credit Unions of 2023
Bottom Line
Not all credit unions are created equal. Some have strict membership criteria, while others are more flexible. Before you join a credit union (or several credit unions) on this list, be sure to consider numerous factors.
You’ll want to look at eligibility requirements, branch location, monthly maintenance fees, accounts offered, interest rates, mobile banking, digital banking, reputation, and customer service. Best of luck as you explore the best credit unions and search for the perfect credit union.
Frequently Asked Questions
Can civilians join Navy Federal Credit Union?
Yes, civilians can join the Navy Federal Credit Union (NFCU), the largest credit union in the U.S. However, this is limited to immediate family members of service members in all branches of the armed forces. This broad eligibility criteria is one of the reasons why NFCU has grown to be the largest credit union in the country.
Can anyone join American Airlines Credit Union?
No, not anyone can join the American Airlines Credit Union. Membership is limited to those who work in the air transportation industry, including airlines, airports, and related businesses, as well as their family members. While this broadens the scope beyond just American Airlines employees, it still doesn’t include everyone.
If you live in Florida — or are thinking of relocating — the Sunshine State has several prestigious colleges and universities, including Embry-Riddle Aeronautical University, the University of Florida and Rollins College.
Higher education is less expensive in Florida than in most other states. The state also operates several robust financial aid programs, such as the Bright Futures scholarship program, that can make college more affordable for residents.
The cost of education in Florida
Florida’s education system includes 40 public colleges and universities. There are also at least 30 private, non-profit schools throughout the state.
Generally, a college education in Florida is cheaper than the national average. Here’s how much you can expect each year of your degree to cost at different types of institutions, based on 2020-21 average tuition rates as reported by the National Center for Education Statistics:
Public four-year, in-state: Nationally, the average cost of a public, in-state university was $21,337 per year. In Florida, the cost was $15,543 per year — a difference of almost $6,000.
Private non-profit: Private colleges and universities are usually more expensive than public schools. The average cost of a year at a private school in Florida was $28,860, about $4,500 less than the national average.
Community college: The average cost of attending a two-year school was $3,501 per year at the national level. In Florida, the average cost was $2,506 per year, nearly $1,000 less.
Financial aid options in Florida
To qualify for state-based financial aid, you must establish residency. For the purposes of in-state tuition rates and other state aid, you or your parents must live in Florida for at least 12 consecutive months before the first day of the term.
Currently, undocumented and Deferred Action for Childhood Arrivals (DACA) students can qualify for in-state tuition rates at Florida public colleges and universities if they meet the following criteria:
Attend a secondary school in Florida for at least three consecutive years before graduating.
Enroll in a Florida postsecondary institution within 24 months of graduating from high school.
Submit an official Florida high school transcript as evidence of attendance and completion.
However, the 2014 law that allowed those students to qualify for in-state tuition is facing challenges. Current Florida Governor Ron DeSantis has proposed repealing the measure, so this benefit may not be available in the future.
If you are a Florida resident, you may qualify for one or more of the following financial aid programs:
529 plans.
In-state tuition.
Scholarships.
Student loan repayment assistance.
Florida 529 plans
529 plans are tools to save for a child’s future education. In Florida, there are two programs:
Prepaid tuition plan: Florida Prepaid College Plans allow you to purchase college credits for future use at today’s prices. The credits can be used in-state or out, and the child can attend public or private schools. The funds are available for up to 10 years after the child’s projected high school graduation date, and plans start at $45 per month. There’s also a $50 application fee.
529 college savings plan: The Florida 529 Savings Plan is an investment account you can use to save for a child’s education. You can choose from a range of investment options to grow your contributions tax-free as long as you use the money to pay for eligible education expenses.
While some states offer special benefits, such as state account contributions or tax credits, Florida does not provide the same incentives or benefits.
Florida in-state tuition
Florida participates in the Academic Common Market. This network allows resident students to attend school in other states and pay in-state tuition rates. Through the network, students can qualify for in-state tuition at eligible programs in the following states:
Louisiana.
Mississippi.
South Carolina.
Tennessee.
West Virginia.
Not all schools or programs qualify, so talk to your selected school’s financial aid office to find out if you’re eligible for in-state rates.
Florida grants
Grants, as a form of gift aid, don’t need to be repaid, and they’re typically awarded based on financial need. Florida has three state grant programs:
First Generation Matching Grant Program
The First Generation Matching Grant Program is for Florida undergraduate students with substantial financial need and whose parents did not earn a college degree. Award amounts vary by year and the needs of the student.
Florida Student Assistance Grant Program
José Martí Scholarship Challenge Grant Fund
Florida scholarships
Students from Florida may qualify for one of nine scholarships.
Bright Futures Scholarship Program
Florida’s best-known and most valuable scholarship is the Bright Futures Scholarship Program. Through Bright Futures, students can qualify for an award for as much as 100% of college tuition and fees.
To qualify, students must be Florida residents, earn a Florida high school diploma or its equivalent, and maintain a GPA of 3.0 or higher in high school. Students must also complete volunteer service or paid work hours to qualify for the Bright Futures program.
Benacquisto Scholarship Program
The Benacquisto Scholarship Program is a merit-based award for high school graduates who achieved National Merit Scholar status. The award amount varies, but it can cover the total cost of attendance at participating schools, minus other financial aid.
Florida Farmworker Student Scholarship Program
The Florida Farmworker Student Scholarship Program is both merit-based and need-based. Each year, up to 50 eligible students can qualify for financial assistance that covers up to 100% of the credit hours required for degree or certificate programs. To qualify for the scholarship, students must be farmworkers or the children of farmworkers.
Mary McLeod Bethune Scholarship
As a merit- and need-based scholarship, the Mary McLeod Bethune Scholarship provides up to $3,000 in financial aid to academically strong students with financial need. To qualify, students must have a 3.0 GPA or higher and enroll at Bethune-Cookman University, Edward Waters College, Florida A&M University or Florida Memorial University.
Minority Teacher Education Scholars program
Administered by the Florida Fund for Minority Teachers, the Minority Teacher Education Scholars program is a performance-based scholarship for African American, Hispanic American, Asian American and Native American students. Eligible students can receive up to $4,000 per year in financial assistance.
Randolph Bracy Ocoee Scholarship Program
Students who are direct descendants of the victims of the Ocoee Election Day Riots of November 1920 or are current African American residents of Ocoee are eligible for the Randolph Bracy Ocoee Scholarship Program. Eligible students will receive up to $6,100 per year in financial aid.
Rosewood Family Scholarship
The Rosewood Massacre occurred in 1923. Students who are direct descendants of Rosewood families affected by those events can qualify for the Rosewood Family Scholarship. Qualifying students will receive up to $6,100.
Scholarships for Children and Spouses of Deceased or Disabled Veterans
This award is for the children or spouses of deceased or disabled military veterans who were Florida residents. Eligible students can receive funding for up to 110% of the required credit hours for an initial baccalaureate degree or certificate program.
William L. Boyd, IV Effective Access to Student Education Program
Student loan repayment programs in Florida
If you have student loans and live and work in Florida, you may be eligible for help from the state in repaying your loans. Florida has programs for attorneys and health care workers who will repay a portion of your debt if you complete a service obligation in a high-need area. The following loan repayment assistance programs (LRAPs) are available:
Florida Bar Foundation
The Florida Bar Foundation designed its LRAP to encourage attorneys to work for legal aid organizations. Under the terms of the LRAP, eligible lawyers can receive up to $5,000 per calendar year to repay federal or private student loans.
Florida John R. Justice
Florida’s John R. Justice LRAP provides repayment benefits to state and federal public defenders and state prosecutors who commit to remaining as defenders or prosecutors for at least three years. Participants in the program can receive up to $10,000 in loan repayment assistance per year, up to a maximum of $60,000. This program will only repay federal student loans; borrowers with private student loans aren’t eligible.
Florida Reimbursement Assistance for Medical Education program
The goal of the FRAME program is to recruit and retain medical professionals to practice in underserved areas. Through the program, nurses, physicians and physician assistants can receive assistance with their student loans. Award amounts vary by profession, but eligible borrowers can receive up to $20,000 per year in student loan repayment benefits. Federal and private student loans can be repaid through FRAME.
Nursing Student Loan Forgiveness Program
The Nursing Student Loan Forgiveness Program provides up to $4,000 annually in loan forgiveness to nurses working full time at a designated site. Examples include public schools, state-operated medical and health care facilities, and county health departments.
Nurses can participate in the program for up to four years. The program will repay federal and private student loans.
How to apply for financial aid in Florida
Florida has several financial aid programs, including gift aid in the form of grants and scholarships. To ensure you get all of the aid you’re eligible for, follow these steps:
Fill out the FAFSA: Need-based programs will determine your financial need based on the information that you submit with the Free Application for Federal Student Aid (FAFSA). The FAFSA can take less than an hour to complete. Fill it out online at FAFSA.gov.
Look up deadlines: Although Florida’s FAFSA deadline is in mid-May, some scholarship or grant programs may have different deadlines and requirements. Review the application materials of each program carefully, and make a note of any deadlines.
Create an account with Florida’s Office of Student Financial Assistance: Some of Florida’s programs require you to have a student account with the Office of Student Financial Assistance. It’s free to create an account, and you can open one at FloridaStudentFinancialAidSG.org.
Fill out the Florida Financial Aid Application: Some grant and scholarship programs require the Florida Financial Aid Application as well as the FAFSA. You must have a student account with the Office of Student Financial Assistance. Once your account is created, you can access and fill out the application.
Apply for specific programs: Some programs, such as the Benacquisto Scholarship Program or the Minority Teacher Education Scholars program, require separate applications or additional materials. Review each program’s eligibility requirements online so you can fulfill the application requirements.
Frequently asked questions
Is Florida Bright Futures based on income?
No, Bright Futures scholarships are not awarded based on your family’s income. In fact, the FAFSA isn’t required at all. Eligibility is determined by your residency, grades, standardized test scores, and volunteer or paid work hours.
Are undocumented or DACA students eligible for Florida in-state tuition?
Currently, undocumented and DACA students are eligible for in-state tuition rates under Florida House Bill (H.B.) 851, which was passed into law in 2014.
Can Florida residents get help completing the FAFSA?
Yes. Visit the Florida College Access Network for free resources, including detailed videos and tutorials, that can help you fill out the required forms to get the maximum amount of financial aid possible.
What is the FAFSA deadline for Florida?
Florida’s FAFSA deadline for the 2023–24 academic year was May 15, 2023. The application typically opens to students on Oct. 1 each year, so it’s a good idea to fill it out as soon as possible. If you missed this deadline, you can still complete the FAFSA for federal aid through Jun. 30, 2024.
Red dirt, rolling hills and real-world experience abound in Oklahoma’s best college towns.
Oklahoma is not just about cowboy culture and stunning landscapes. It’s also home to some of the most vibrant college towns in the nation. These bustling hubs of education, creativity and entertainment provide students with a perfect blend of academic rigor and exciting social opportunities. In this article, we’ll dive into the best college towns in Oklahoma, exploring their unique charm and the reasons why they’re ideal for students of all walks of life seeking a fantastic college experience.
Let’s start our journey with Norman, the third-largest city in Oklahoma and home to the prestigious University of Oklahoma. With a population of over 120,000, Norman has everything a student could want in a college town. It’s a town proud of its rich history and tradition, with the university’s stunning architecture and beautiful campus as its centerpiece.
The city’s lively downtown area is teeming with local restaurants, bars and shops, ensuring that students never run out of things to do or places to explore. Nestled within the heart of Tornado Alley, Norman is a thriving hub of weather research and meteorology, making it an excellent choice for students pursuing a degree in these fields.
Next up is Lawton, a city that perfectly exemplifies the unique blend of military and academic life found in many small college towns throughout the country. Home to both Cameron University and the Fort Sill military base, Lawton is a place where students can enjoy the best of both worlds. It boasts a vibrant arts scene, with several museums and galleries to explore, including the Museum of the Great Plains and the Comanche National Museum and Cultural Center.
For outdoorsy types, Lawton’s proximity to the Wichita Mountains Wildlife Refuge provides ample opportunities for hiking, wildlife observation and even rock climbing. This picturesque backdrop, combined with a friendly community and affordable living, makes Lawton a great choice for students looking for a college town in Oklahoma with a unique atmosphere.
Our journey continues to Tulsa, Oklahoma’s second-largest city and home to several colleges and universities, including the University of Tulsa, Oral Roberts University and Tulsa Community College.
This vibrant and cosmopolitan city offers students a wide array of activities, attractions and cultural experiences to indulge in. From attending concerts at the historic Cain’s Ballroom or the BOK Center to exploring the Philbrook Museum of Art or the Gilcrease Museum, there’s always something happening in this bustling town. The thriving music scene, combined with the city’s diverse culinary offerings, ensures that students in Tulsa have easy access to global and local culture.
The home of Oklahoma State University, Stillwater is often referred to as the quintessential college town in Oklahoma. Its welcoming atmosphere, rich history and strong sense of community make it an ideal destination for students to receive a top-tier education and stick around after receiving their degrees.
The city’s lively downtown area, known as ‘The Strip,’ offers an eclectic mix of shops, restaurants and bars, making it the perfect place for students to unwind and socialize after a long day in the classroom. Additionally, the university’s sports teams, particularly the OSU Cowboys football team, are a significant source of pride and excitement for the town, with game days drawing thousands of fans to Boone Pickens Stadium.
With a strong emphasis on agricultural research, Stillwater is also an excellent destination for students pursuing careers in agriculture, animal science or environmental studies.
We can’t discuss college towns in Oklahoma without mentioning Oklahoma City, the state’s capital and largest city. Home to Oklahoma City University, Oklahoma State University – Oklahoma City and the University of Central Oklahoma, this metropolis offers students an urban experience with a distinctively Oklahoman flavor.
Oklahoma City is rich in history, culture and entertainment, with attractions like the Oklahoma City National Memorial & Museum, the Myriad Botanical Gardens and the Bricktown entertainment district. The city’s booming economy and numerous internship opportunities make it an ideal destination for students looking to jump-start their careers.
Now that we’ve covered some of the most notable college towns in Oklahoma, let’s explore a couple of hidden gems that are also worth considering. One such town is Weatherford, located about an hour west of Oklahoma City. Home to Southwestern Oklahoma State University, Weatherford offers students a warm, welcoming atmosphere and a vibrant local community. Its proximity to the stunning Red Rock Canyon State Park and the historic Route 66 provides students with ample opportunities for outdoor adventures and sightseeing.
Another lesser-known college town in Oklahoma is Shawnee, situated just east of Oklahoma City. As the home of Oklahoma Baptist University and St. Gregory’s University, Shawnee provides students with a close-knit, faith-based environment. The town’s rich Native American history and cultural attractions, including the Mabee-Gerrer Museum of Art and the Citizen Potawatomi Nation Cultural Heritage Center, offer students a unique and engaging educational experience.
Claim your space in one of Oklahoma’s best college towns
Oklahoma is home to a diverse array of college towns, each with its own unique charm and character. From the bustling urban centers of Tulsa and Oklahoma City to the serene, rural landscapes of Weatherford, there’s a college town in Oklahoma to suit every student’s preferences and interests.
The towns above offer not only excellent educational opportunities but also lively social scenes, rich cultural experiences and strong communities, making them the ideal destinations for students seeking a fulfilling and unforgettable college experience. Find your favorite city, pick an apartment and enjoy your new life in one of the top college towns in Oklahoma.
My monthly Extraordinary Lives series has been a lot of fun, and I’m back with another inspiring interview. First up was JP Livingston, who retired with a net worth over $2,000,000 at the age of 28. Today’s interview is with Amanda, who is now living debt free after paying off $133,000 in three years and seven months.
I’ve been following Amanda – @debtfreeinsunnyca – on Instagram for quite some time, and I’m so happy that I was finally able to interview her!
In this interview, you’ll learn:
How Amanda got into debt.
Why she decided to get out of debt fast.
The expenses she cut so that she could pay off her debt quickly.
What she thinks about the cash envelope method.
The sacrifices she made to reach her goal.
What she did to stay motivated.
And more! This interview is packed full of valuable information!
I asked you, my readers, what questions I should ask her, so below are your questions (and some of mine) about Amanda’s story and how she has accomplished so much. Make sure you’re following me on Facebook so you have the opportunity to submit your own questions for the next interview.
Related content:
Tell me your story.
Hey Michelle! Thank you for the opportunity. Here is my story.
I was 22 years old and working as a massage therapist on a cruise ship when I was diagnosed with carpal tunnel and cubital (elbow) tunnel. The career that I had trained for was no longer an option. I had to start over and pick a new career. Tired of working commission jobs where your paycheck depends on how good of a salesperson you are, I sought out an in demand, well-paying career in cyber security.
Like any normal person would do, I took out student loans to cover my tuition. I didn’t pay any attention to how much I was borrowing or the interest rate. I figured I would be making the big bucks when I graduated and could afford the payments. To make that happen, I worked hard to get into my field and landed an internship during my first year in school. By the time I graduated, I had already been in the IT field for several years.
So, was I making the big bucks now? Nope, not even close. There was no big, fat pay raise when I graduated. Reality slapped me hard in the face when I realized I wasn’t going to be able to afford my student loan and car payments with my small salary in California.
I knew I had to do something to clean up my mess. Years before I had tried to get out of debt by following Dave Ramsey’s plan, but reverted to my old ways after going through some personal things. Wanting to give it another try, I enrolled in Financial Peace University. I also went back to school for my master’s degree. This allowed me to defer my loans while cleaning up my mess. The best part was the company I now worked for reimbursed tuition for degrees that are related to your field.
My debt was over $80,000 and consisted of student loans, a car, and a small credit card. Once I committed to doing a zero-based budget, I started to see some great progress. I was sharing all my progress with my then boyfriend, now husband. I tried to get him on board, but he wasn’t interested at the time. After a few months of hitting it hard, I started to get mad that my balance wasn’t going down as fast as I wanted it to. It was going to take me forever to get out of debt!
That’s when I had my second “I’ve had it” moment where I was now ready to take action. The Prius I was upside down on had to go. It was a drastic, but necessary move. I quickly saved up $5,000 for a used Honda Civic and sold my car. With one transaction I got rid of $17,000 worth of debt. It felt like I was getting somewhere now! Because of my past, dumb mistakes, I had to take out a $7,000 loan to cover the difference I was upside down on. Owing $7,000 is WAY better than owing $24,000. I consider this to be the best financial decision I’ve ever made. It catapulted my debt snowball and provided the motivation I needed to continue.
After seeing my progress and going through FPU, Josh got on board and started paying off his debt. He cash flowed my engagement ring and proposed several months later! We paused our debt free journey and cash flowed $14,000 in six months for our wedding and honeymoon.
With the wedding behind us, it was time to get to business. Together we had a total $133,763 in debt. Josh added a truck and multiple credit cards to the pile of debt. We combined our accounts, started doing a zero-based budget, and utilized cash envelopes to stay on track. We both worked to increase our income while keeping the same lifestyle. After three years and seven months of hard work, we became debt free on July 5th, 2018!
How much debt did you have and what was your debt from?
Our debt totaled $133,763 and consisted of 16 student loans, 8 credit cards, 2 vehicles, and 1 personal loan. Nearly half of our debt was my student loans from my associate’s and bachelor’s degrees.
Why did you want to get out of debt fast?
It’s an awful feeling not having enough money to pay your bills or having to tell your friends/family you can’t go out because you’re broke. I wanted to get out of debt fast so I could afford my bill and have money to do the things I enjoy.
My why evolved over time when Josh and I started talking about our future together. He almost bought a sailboat when he got out of the Army years ago. Josh ended up moving back to San Diego instead, and then we met. He shared his dream with me, and I was immediately on board. I had been obsessed with tiny house living, and having worked on cruise ships, I loved the water. Getting a sailboat and one day quitting our jobs to travel became our new why.
How long did it take you to pay off your debt and reach debt freedom?
We spent three years and seven months working on paying off all our debt. The first year I was on my own. We weren’t married yet, and it took some time to convince Josh to get on board. After getting engaged, we paused our debt payments for six months to cash flow our wedding. We finished up the remainder of our debt a year and a half after we were married.
How did you manage to get out of debt so fast?
Getting out of debt can be broken down into two areas: increasing your income and cutting your expenses. We did both during our journey.
Our income increased by $75,000 during our debt free journey. This was from raises, overtime, and on-call pay. How did we do this? I attribute a lot of my success to working while I was going to school. I landed a part-time internship when I was in my first year of school. It allowed me to work my way up the ladder faster and increase my income. While in my master’s program, I managed to get into the IT Security department at my company. It came with a significant pay increase and each yearly raise has been a generous amount.
Josh also works in IT. He doesn’t have a degree, but his eight years of experience in the Army and his drive more than make up for it. Josh manages critical applications and is one of the go-to people in the IT department. He’s on-call and often working overtime. His skills and work ethic have earned him well deserved pay increases over the years.
Cutting expenses also helped us reach debt freedom faster:
Housing
For most of our journey, we lived in a small 550 sq. ft house to keep rent low. This saved around $400 a month for the 2.5 years we lived there. That’s $12,000 saved!
Vacations
Other than a honeymoon, we didn’t go on a vacation during our whole debt free journey. We had a few small trips: graduation, a wedding, Christmas in Tennessee with my family, which my mom paid for because she wanted to see us while supporting our journey.
Instead of traveling, we found free things to do in San Diego. Going hiking with the dogs was one of our favorite things to do. We also hung out with friends at their house instead of going out. We would cook dinner and watch a movie or TV series.
Hobbies and fun
Josh has a lot of expensive hobbies that he put on hold during our debt free journey: spear fishing, fishing, tech stuff, etc. I didn’t have any hobbies since my life was consumed by work and school. We cut out restaurants, date nights, movies, and excessive clothing. If we wanted to go out to eat or buy booze, it would come out of our budgeted spending money. There were a lot of Netflix and chill nights! Our date nights consisted of grilling out in our yard and sitting by the fire pit. We did budget for date nights whenever we hit a big milestone.
Work perks
Josh and I work at the same company, which allowed us to carpool to save money. Additionally, our company has amazing benefits. Our health and dental insurance are extremely affordable, both of our cell phones are paid for because we’re on call, and we’re able to make up missed hours instead of taking PTO if we need to leave work for some reason.
Can you tell me about cash envelopes? How does it work and why do they help?
Cash envelopes are a budgeting method where you take out cash for specific categories instead of using your debit/credit card for purchases. Each payday we take out money for groceries, gas, spending money, and any sinking funds we’re saving for. For that two-week period, all groceries come out of the grocery envelope. Same with gas and spending money. Once it’s gone, it’s gone! There’s no money left in our accounts because it’s all been paid to debt, so you better spend the money wisely! We had our emergency fund in case anything happened, but spending too much on groceries is not an emergency.
This method really helps curb your spending because you feel it more when you use cash. It’s also easy to look in your wallet and see how much money you have for each category to stay on track. Josh is a spender and he’s had great success with cash envelopes. I had a wallet with several dividers made for him to make it easy.
A lot of people are scared to carry around cash. I think the benefits of using cash outweigh the risk of losing it or it being stolen. I suggest only carrying around the amount that you need and leaving the rest at home in a safe until you need it. If anything were to happen, you always have your emergency fund to fall back on.
What is your response to people that say, “You should invest that money instead of paying off the debt, you’ll earn more in the long run…” etc.?
Ahhh the age-old argument! My response is do what works best for YOU! Everyone’s situation and priorities are different.
When I started, I didn’t have a choice because I wasn’t going to be able to afford the minimum payments on my debt! As we got further into our journey, sure we could have invested, but paying off debt was more important to us. Becoming debt free is a sure thing and will force you to change your spending habits for the better. I never want to get in a bind and have to pull out investments early because of debt or bad spending habits.
What sacrifices did you have to make in order to become debt free?
The biggest sacrifice I made to become debt free was selling my beloved Prius for a 2005 Honda Civic. At first, I didn’t want to sell it. I was going to try and get out of debt while keeping the car. After eight months of paying down my car loan and not making a lot of progress, I realized I had to make some bigger sacrifices, otherwise I would fall back into my old spending habits and go further into debt. I still miss the ability to get into my car without taking the keys out of my purse and the convenience of Bluetooth! My used Honda is old and janky, but it’s paid off!
Often people paying off loads of debt feel they have to choose between “living life” and making payments. Were there any times during the journey that you chose to “splurge”?
There were a few times we splurged! We got sick and tired of living in a small house, so we moved into a bigger rental with office space and a yard for the dogs. Before moving we did a cost analysis on the expenses to determine if it was worth it to us to push back our debt free date by a few months or stick it out and continue living the same way.
Our new place was so empty when we moved in. Imagine going from 550 sq. ft to over 1,300! We didn’t even have a table. We spent a few weeks buying furniture and things that we needed for the house before getting back into the swing of things.
Another big splurge was a complete surprise to me! I had been eyeballing this nice Canon DSLR camera and planned on getting it as a debt free gift to myself. Right before I graduated with my master’s degree, my mom was in California on a travel nursing assignment. She knew we were on a strict budget and would say no to most things that cost money. My mom told me she won $150 gift card and wanted to use it to take us out to eat.
I agreed because who passes up free!? During dinner, I kept making comments about us going all out because we have to use up the gift card. Avocado eggrolls, pizza, and several beers later, Josh said he forgot his wallet out in the truck and went to grab it. He came in the door behind me and set a big present on my lap! I immediately knew it was the camera!
So, how did Josh get this big purchase by me? He’s a veteran and was in school at the time. Veterans get a housing allowance each month while in school per the Post-911 GI Bill. The money was deposited into his personal checking account, and then he moved it to our joint checking every month. He told me that the allowance was delayed that month because of paperwork! I completely bought it. Josh used the money to go in on my graduation gift with my mom.
And the gift card? There was no gift card! They knew the only way to get me to a restaurant during our debt free journey was to lie to me and say she had a gift card. The total with tip came out to just over $150.
What did you do to stay motivated?
It’s so important to find ways to stay motivated when you have years of work ahead of yourself. Because I had fallen off track once before, I knew I had to find better ways to stay motivated and focused.
Visuals were by far my favorite way to stay motivated. I had multiple charts, spreadsheets, and countdowns going at home and work. Every time we made a payment towards debt, I would get to color in charts, change Excel spreadsheets, and update the whiteboard at work. Having reminders where you’ll see them every day is extremely motivating.
I also sought to find other people on the same journey. Back in 2014, there weren’t a lot of people on Instagram sharing their progress and journey. I found a small group of people from searching #debtfree and #daveramsey, and started following them. The hashtags started to get polluted by people selling those skinny teas and weight loss wraps. I put out a call to the small community, and we decided to vote on our own hashtag. That’s how the #debtfreecommunity was born!
It’s so motivating to talk to people who are going through the same thing. In real life, none of my friends or coworkers were trying to get out of debt. Their eyes would gloss over when talking about budgets or paying off a debt. Every time I opened Instagram, I would immediately be motivated by another person’s journey or the lovely comments left on my posts.
If you were starting back at ground zero, what would you do differently?
There are so many things I would do differently! First off, instead of getting a $12,000 car when I was 16, I would save up a few thousand and buy a used, reliable car. That one decision would set my life on a much better path! I’d be able to save up money and pay for school upfront, which is my next point. I would spend more time figuring out what I want to do in life and researching schools. I’d make sure to pick a career that is not commission based and makes a great salary. I would start investing early in life, even if it was only $100 a month. I would continue to pay cash for purchases, save money, and invest.
What is your very best tip (or two) that you have for someone who wants to reach the same success as you?
Hands down the best tip I can give is to create a zero-based budget and stick to it. A budget doesn’t sound sexy or fun, but it gives you freedom to spend money on the things that matter to you. Budgeting doesn’t mean you have to cut out all your fun! Put it in the budget. The point is to know where your money is going and to spend it intentionally. Don’t resist the budget!
The second tip I can give is to find your people! It’s hard to stay motivated to pay off debt or save when all your friends are spending money left and right. Having a supportive group of people that get you is priceless.
What’s your next financial goal?
Our next financial goal is to save $25,000 for our 6-month emergency fund. We want to be prepared for anything that comes at us!
We keep $2,000 in a local savings account and the rest will be in a high interest savings account. Transferring money from our large emergency fund to our checking account takes a few days, which is great because it helps prevent us from dipping into it for non-emergencies.
The emergency fund will cover all of our expenses for six months with minimal cuts to the budget. It’s going to be a huge relief to have money set aside just in case. No more money fights when something unexpected happens!
Where can my readers go to learn more about you?
You can learn more about us by following along on Instagram.
Do you have any other questions for Amanda? Are you trying to pay off debt?
The average person probably wants to learn how to get rich.
While many think figuring how to get rich may be impossible, I’m here to tell you that it isn’t. And no, you don’t need to win the lottery or become a professional athlete.
The meaning of wealth and being rich means something different to everyone. For some, it means having lots of money, for others it may mean having a positive net worth, and for others it may be to retire one day.
Whatever your definition of “rich” is, everyone has the potential to build and improve their financial situation.
If you want to be rich one day, then you’ll have to form good financial habits now, work hard, and reach outside of the norm.
Learning how to get rich won’t be easy – but what good things come easy anyways?
For many people, learning how to get rich may seem impossible and completely unattainable, but that’s simply not true.
Building wealth and learning how to get rich is about your mindset, and figuring out how to get rich now is better than waiting any longer.
Related posts about how to get rich:
Here’s how to get rich– for anyone and at any age.
Don’t wait until tomorrow to learn how to get rich.
Instead of thinking that you’re invincible and that you have all the time in the world to improve your finances, you should stop procrastinating and learn how to build your wealth now.
Many people push things off and/or spend their money carelessly because they think they can start tomorrow, start next month, and so on. However, for everyday that you push off improving your finances the further away and harder you’ll have to work towards your goal.
Stop wasting time and take control of your financial situation now.
Related tip: I recommend looking into Digit if you want to trick yourself into saving more money. Digit is a service that looks at your spending and transfers money to a savings account for you. Digit makes everything easy so that you can start saving money with very little effort.
Be better than average if you want to learn how to get rich.
If you want to build your wealth, whatever that might mean to you, then you’re going to have to go outside the norm, be better than the average, and do new things.
When learning how to get rich, you should always strive to do your best as sometimes “average” is not good enough for you to build wealth. Keep in mind that the average person is not the greatest with money, and many are wrecked with stress and hardship due to their unfortunate financial situation.
68% of people live paycheck to paycheck.
26% have no emergency savings.
The median amount saved for retirement is less than $60,000.
The average household has $7,283 in credit card debt.
The average student loan debt is $32,264.
To be better than average, you’ll have to work hard, learn how to manage your money better, and perhaps take some risks (such as starting a business or applying for your dream job) as well.
Give yourself great goals.
Those who set goals are much more likely to be successful than those who do not. Due to that, if you want to be rich, you’ll want to start setting goals for yourself.
Setting goals is important because without a goal, how do you know where you’re heading? Goals can keep you motivated and striving for your best.
When building your wealth, you should always make sure that any goal you set is SMART.
A SMART goal is:
Specific – What is your goal? Is it specific enough or is it too broad? What needs to be done for you to achieve your goal? Why do you want to reach your goal?
Measurable – How can you measure your progress? How will you know if you’re on track?
Attainable – Is this a goal that can be achieved?
Realistic/relevant – Can you achieve your goal? Is the goal worth it?
Time – What’s your time frame for reaching your goal?
To reach your financial goals and learn how to get rich, you’ll want to:
Write down your goals and objectives.
Create a plan to reach your life goals.
Break your goal apart into smaller goals.
Keep track of your goal setting progress and make changes (if needed).
Find small ways to stick to your goal.
Find ways to motivate yourself when setting goals.
Make reaching your goal a friendly competition.
Read further at The Best Way To Set Goals And Reach Success in 2017.
Create a realistic budget.
To learn how to get rich, you’ll want to create a budget. Yes, even the rich have budgets!
The average person has a lot of financial stress and may be dealing with student loans, credit card debt, a mortgage, car loans, and sometimes even other forms of debt.
However, not many people have a budget. In fact, more than 60% of households in the U.S. do not have a budget.
Budgets are great, because they keep you mindful of your income and expenses. With a monthly budget, you will know exactly how much you can spend in a category each month, how much you have to work with, what spending areas need to be evaluated, among other things.
Remember, even those with high incomes have a budget. The rich stay rich because they have learned how to manage their money better than the average person, which includes being aware of your spending and saving.
When creating your budget, be sure to include all of your income and expenses.
Here are some expenses you may want to include when creating a budget, but don’t forget any expenses you have that aren’t listed:
Home – House payment, rent, maintenance, utilities, insurance, property taxes, etc.
Car – Monthly car payment, gas, maintenance, insurance, license plate fees, and so on.
Television, cable, Netflix, Hulu, etc.
Cell phone.
Internet.
Food – Groceries, restaurant spending, snacks, etc.
Clothing.
Entertainment – Entertainment can include many things, such as going to the movies, going out for drinks, concert tickets, sports, and so on.
Charity – If you regularly donate to charity, then this should be an area you budget for.
Savings funds – This can be for your retirement fund, wedding, travel, etc.
Taxes – If you are self-employed, then taxes may consist of a large part of your budget.
Health insurance.
Miscellaneous – Pet expenses, fees, childcare, school, gifts, etc.
You can get a free budget printable by signing up below.
Realize that a good life can be affordable.
As you all know, I really dislike the myth that people who save money are boring. That’s not true at all.
I believe that you can balance living a good life along with saving a comfortable amount of money.
There are plenty of ways to live an awesome life while saving money. Yes, you can still see your friends, have fun with your loved ones, go on vacations, and more, all while staying on a realistic budget.
Here’s a list of some great early retirees who are leading great lives. I definitely recommend reading about them:
If you want to learn how to get rich, then learning how to be happy with yourself and figuring out affordable ways to enjoy life are key.
Related: How To Become Rich – It’s More Than Millions In The Bank
Pay off your debt if you want to learn how to get rich.
If you want to learn how to get rich, then you’ll most likely want to figure out how to eliminate any debt that is preventing you from reaching your financial goals. For the average person, this probably means any high interest debt, any debt that’s causing you stress, and so on.
Paying off your debt can lessen your stress levels, allow you to have more money to put towards something else (such as retirement), stop paying interest fees, and more.
The first step to eliminating debt is to realize why you have debt in the first place. I believe that if you don’t understand where your problem with debt stems from, then it would be hard to make a positive change.
Yes, it is great to just start attacking your debt, but you also don’t want to fall into the same cycle of going into debt over and over again.
After you realize why you are in debt (or why you keep going back into debt), the next step is to figure out how you will eliminate it. There are many different ways to attack your debt, and I prefer a mixture of everything.
To pay off your debt and learn how to get rich, you should:
Quit adding more debt to your life. You may want to cancel or freeze your credit card, think harder before your next purchase, and avoid spending temptations like the mall.
Be realistic with your income and spending. If you have debt, then you either have an income or spending problem. You may need to start earning more money and/or start spending less if you want to learn how to become wealthy.
Decrease your spending and expenses. Depending on how quickly you want to get rid of your debt, there are different things that you may want to cut out. You could cut out Starbucks (I know, I know), lower your restaurant spending, find a cheaper way to workout, sell your car for something cheaper/more affordable, cook from scratch, and so on.
Make more money. The extra money that you earn can be put towards your debt to help you pay it off more quickly.
Pay more than the minimum. If you have debt, you should always be paying more than the minimum so that you can lower the amount you are paying towards interest.
Put little amounts toward your debt. For example, whenever you get an extra $25 (such as by selling something), then you should just throw that extra money (that you won’t even miss!) towards your debt.
Related: How To Take A 10 Day Trip To Hawaii For $22.40 – Flights & Accommodations Included
Start investing as one of the ways to get rich.
One of the best ways to figure out how to get rich is to start investing. After all, you need to have your money work for you!
The sooner you start saving, the more it becomes a habit and the easier it becomes. By investing money now, you will learn good investing habits that will help you well into the future.
I always say that the first thing you need to do if you want to start investing is to just jump in. However, what if you don’t even know how to start investing?
If you are like many out there, you may not know how to start investing your money.
Investing your money can be a scary, stressful, and overwhelming topic to tackle. You want to invest so that you can:
Retire one day.
Prepare for unexpected events in the future.
Allow your money to grow over time.
Learn how to get rich.
Remember, time is on your side, and due to the powerful impact of compound interest it can change your life. This means the sooner you invest, the more you will earn.
Compound interest is when your interest is earning interest. This can turn the amount of money you have saved into a much larger amount years later.
This is important to note because $100 today will not be worth $100 in the future if you just let it sit under a mattress or in a checking account. However, if you invest, then you can actually turn your $100 into something more. When you invest, your money is working for you and hopefully earning you income.
For example: If you put $1,000 into a retirement account that has an annual 8% return, 40 years later that would turn into $21,724. If you started with that same $1,000 and put an extra $1,000 in it for the next 40 years at an annual 8% return, that would then turn into $301,505. If you started with $10,000 and put an extra $10,000 in it for the next 40 years at an annual 8% return, that would then turn into $3,015,055.
A great article that explains the power of compound interest is Mr. Money Mustache’s The Shockingly Simple Math Behind Early Retirement.
Here are the easy steps to take so that you can start investing your money:
Start saving your money. In order to invest your money, you need to start setting aside money specifically for it. The amount of money you save for investing is entirely up to you, but in general, the more the better.
Do your research. Before you start dumping your money into the stock market and other investments, it’s a good idea to know what you’re putting your money towards. Reading about various investment-related tips and research will help you become more informed about your investing decisions, which will then help you make better decisions well into the future.
Find an online brokerage or someone to manage your investments. There are two main ways to invest your money. You can either invest your money yourself through a brokerage or you can find someone to manage your investment portfolio for you. You will need to take part in one of these options to actually start investing your money. Personally, I like to do everything myself through Vanguard.
Decide how you will invest. Now that you’ve opened an investment account, you will want to decide where you will put your investments. How you invest depends on your risk tolerance, the time period for which you are investing (when will you retire?), and more. Generally, the sooner you need your funds the less risk you will take on, whereas the longer your time period is, then the more risk you may be willing to take on.
Track your investment portfolio. The next step when learning how to get rich by investing is to regularly track the things you have invested in. This is important because you may eventually have to change what you are invested in, put more money towards your investments, and so on.
Continue the steps above over and over again. To invest for years and years to come, you will want to continue the steps above over and over again. Now that you know the steps it takes to invest your money, it only gets easier.
Related tip: I recommend using Motif Investing if you are looking to invest your money. Motif Investing allows individuals to invest affordably. This approachable investing platform makes it easy to buy a portfolio of up to 30 stocks, bonds or ETFs for just $9.95 total commission.
Start making more money.
Figuring out how to get rich usually means that you’ll have to find ways to make more money than you currently do.
On Making Sense of Cents, I talk a lot about how to make extra income because I believe that earning extra income can completely change your life. You can stop living paycheck to paycheck, you can pay off your debt, and more- all by learning about the many different ways to make money.
Trust me when I say that making more money is important. I was able to pay off $38,000 in student loans within 7 months, I was able to leave my day job in order to pursue my passion, travel full-time, and more!
The great thing about finding ways to make more money is that your income potential is unlimited. There’s no cap on how much money you can make- it all depends on what you decide to do and how much time you plan on devoting to it.
Making more money can change your life in great ways, such as:
You can pay off your debt.
Save for big purchases, such as a vacation.
Stop living paycheck to paycheck.
Reach retirement sooner.
Become more diversified with your income sources.
Whether you have just one free hour a day or if you are willing to work 40 to 50 hours a week on top of your full-time job, there are many options when it comes to earning more money. Finding ways to make more money will only help you as you learn how to become rich.
Some ways to make more money include:
Find a part-time job.
Make money online such as creating a blog, becoming a virtual assistant, etc.
Become an Uber or Lyft driver – Spending your spare time driving others around can be a great money maker. Read more about this in my post How To Become An Uber Or Lyft Driver. Click here to join Uber and start making money ASAP.
Maintain and clean yards. You can make money by mowing lawns, killing/removing weeds, cleaning gutters, raking leaves, and so on.
Answer surveys. Survey companies I recommend include Swagbucks, Survey Junkie, Clear Voice Surveys, VIP Voice, Pinecone Research, Opinion Outpost, Survey Spot, and Harris Poll Online. They’re free to join and free to use! You get paid to answer surveys and to test products. It’s best to sign up for as many as you can as that way you can receive the most surveys and make the most money.
Move furniture and find jobs on Craigslist. Movers can earn a broad range when it comes to hourly pay, but it’s usually somewhere around $50 an hour if you run your own business.
If you love animals, then you may want to look into how to make extra money by walking dogs or pet sitting. With this side hustle, you may be going over to your client’s home to check in a few times a day, you may be staying at their house, or the animals may be staying with you. Rover is a great company to sign up with in order to become a dog walker and pet sitter. Learn more about this at Rover – A Great Way To Make Money And Play With Animals.
Babysit and/or nanny children.
Sell your stuff.
Rent a spare room in your home to someone else.
As you can see, the list is endless when it comes to making more money.
Related posts on how to make extra money:
Diversify your income streams to learn how to be rich.
One thing that separates the rich from those who aren’t is that the rich and successful tend to have many different forms of income streams.
They may have a day job, a business, rental properties, dividend income, and more. This allows them to bring in more money.
They also do this because the rich know that one source of income may not last forever, and they are also able to lessen their risk by having multiple income streams.
So, if you want to learn how to get rich, then you may want to add more income streams to your life.
If you ever feel too reliant on one source of income, then you know how important this is. Maybe you are afraid that one day you will lose your job or that something will happen to your main source of income.
If you work towards building up multiple income streams and diversifying your income, then you won’t have to worry as much if something happens to one of your income streams.
By diversifying your income with multiple income streams you will have a backup plan, you may be able to retire easier, you will learn how to get rich, and so on.
Note: I recommend that you check out Personal Capital (a free service) if you are interested in gaining control of your financial situation. Personal Capital is very similar to Mint.com, but 100 times better as it allows you to gain control of your investment and retirement accounts, whereas Mint.com does not. Personal Capital allows you to aggregate your financial accounts so that you can easily see your financial situation, your cash flow, detailed graphs, and more. You can connect accounts such as your mortgage, bank accounts, credit card accounts, investment accounts, retirement accounts, and more, and it’s FREE.
Even the rich find ways to save money.
Finding ways to save more money may allow you to pay off your debt a little faster, improve your financial habits, help you reach your dream sooner, and more.
And yes, even the rich find ways to save money.
Sure, there are stories about rich people who spend their money like crazy and end up in bankruptcy. But surprisingly, the average millionaire is frugal, and they know how to manage their money well.
Don’t believe me? Here are some examples of millionaires and billionaires who still find ways to save money:
Warren Buffett lives in a house that he bought in 1958 for around $30,000.
Mark Zuckerberg drives an Acura.
John Caudwell (worth $2.7 billion) rides his bike 14 miles to work every day and even cuts his own hair.
Jim C. Walton (son of Walmart founder) drives an old truck with no air conditioning.
Another interesting statistic is that the average couponer is someone who earns over $100,000 a year. Surprisingly, those who earn less than $100,000 a year rarely use coupons compared to those with high incomes!
By finding ways to save money, you’ll be able to keep more of your money, learn how to get rich, add more to your investments, and so on. You worked hard for your money, so you may as well find ways to keep more of it!
Find ways to save money at 30+ Ways To Save Money Each Month.
Stop trying to impress others.
When was the last time you bought something that was mainly purchased to impress someone else?
Sadly, this is something that the average person does quite often.
If you want to start building wealth and understand how to get rich, then you’ll want to stop trying to impress others and start living your own life.
The rich tend to live below their means. Yes, many of them still spend money extravagantly, but many aren’t living paycheck to paycheck in order to do so. Many millionaires buy items used, they drive “normal” cars like Toyotas, and they aren’t buying things with the sole purpose of impressing others.
This is drastically different from those who aren’t rich.
Many people try to keep up with others and fall for lifestyle inflation, which can prevent a person from being a good money manager.
When trying to keep up with the Joneses, you might spend money you do not have. You might put expenses on credit cards so that you can (in a pretend world) “afford” things. You might buy things that you do not care about. The problems can go on and on.
Instead, you should focus on what you want and need. This will help you to save more money, be more realistic with your income and spending, and to build wealth.
Do you want to learn how to get rich? What does “rich” mean to you?