As any long-term investor in the market can attest, stocks rise and fall — influenced by a mix of economic trends and supply and demand.
Given the inherent volatility of stock values, there are periods when the market is down, and times when it’s gaining steam. So, how low can a stock go? Well, in some cases, stock prices can fall all the way to zero.
What happens when a stock goes to zero? Watching a stock in free fall can induce fear and panic in investors, causing some to sell their holdings. While most every investor aims to buy low and sell high, timing the stock market is very challenging and doesn’t guarantee that investors will see gains.
Sometimes when a stock goes down in value it can present an investment opportunity, but in other cases the stock could fall to zero and never recover. In the latter case, it may benefit investors to sell before the stock price falls all the way down to zero.
What Causes a Stock to Fall to Zero?
When a stock falls to zero, it doesn’t mean that the company is worth nothing. Some companies with very low stock values are still earning money or possess assets. And, some investors buy penny stocks that have extremely low prices.
What happens to a company when stock prices fall to zero? If a company continuously spends more money than it earns, and investors sell off the stock, ultimately, that can lead to the company going bankrupt. Most companies file for either Chapter 7 or Chapter 11 bankruptcy before their stock reaches $0.00.
Chapter 7 Bankruptcy
With a Chapter 7 bankruptcy filing, the company must sell off its assets until it can repay lenders and creditors. The order that stakeholders get paid is: creditors, bondholders, preferred stockholders, common stockholders.
This means that if the asset sale doesn’t bring in enough money to pay everyone, it’s likely that common shareholders won’t receive a dime. In this case, stockholders lose all the money they had invested in that stock.
Under Chapter 7, stock trading and all business activities must be put on hold.
Chapter 11 Bankruptcy
Under a Chapter 11 bankruptcy, the company negotiates loan terms with its creditors in order to avoid selling off assets. With Chapter 11, companies can still conduct business and their stock can be traded.
Once a company files for Chapter 11, it is likely that the stock will continue to fall, since many investors won’t have much faith in the business. Sometimes shares are canceled with a Chapter 11 filing. In that case, investors lose all the money they had put into the stock.
Even if a company files for bankruptcy before its stock falls to zero, their attempts to salvage the business may ultimately fail and the stock could become worthless. However, it can take a strong team and business model to go public and get listed on stock exchanges in the first place, so some bankrupt companies may have the potential to make a comeback.
Some companies with very low stock prices get acquired by larger companies before their stock falls to zero. Even a company with a low stock might have a promising product or service that a larger company is able to sell successfully. One example of this is when Alphabet acquired FitBit in 2021. 💡 Quick Tip: All investments come with some degree of risk — and some are riskier than others. Before investing online, decide on your investment goals and how much risk you want to take.
What Happens to a Company When Stock Prices Fall to Zero?
Some stock exchanges delist stocks if they fall below a certain level. For example, the New York Stock Exchange will remove a stock if its share price falls below $1 for 30 days in a row.
And, as mentioned above, if a company files for Chapter 7 bankruptcy, its stock will be delisted temporarily.
Can a stock go negative? Fortunately, it is not possible for a stock’s price to go into the negative territory — under zero dollars in value, that is.
Still, if an investor short sells or uses margin trading, they may lose more than they invested. For this reason, margin trading and short selling are risky investment strategies.
Short selling is when an investor predicts that a stock is going to decrease in value. So, rather than buying the stock, they ‘bet’ that it will go down. If the stock does in fact go down, they make money.
But, if the stock ends up increasing in value, they lose money. Potentially, an investor in this scenario could lose more money than they put into the initial short sell.
Margin trading is when an investor borrows money from the brokerage firm to trade stocks. If the investor makes a trade that doesn’t go in their favor, they can end up owing the brokerage firm money.
How Low Can a Stock Go?
Stock prices can fall all the way down to zero. That means the stock loses all of its value and a shareholder’s earnings are typically worthless. In this case, the investor loses what they invested in the stock.
Reasons for a Stock Losing Value Down to Zero
What makes a stock fall to zero? The are a number of reasons that may come into play, including:
• Losses in the company’s revenue or earnings, especially if the losses are persistent
• A perception in the market that the stock is overvalued
• Management issues, shake-ups in the company’s leadership positions, scandal, fraud — in short, anything that can make investor sentiment turn negative
For investors, these are all signs a stock is underperforming and red flags to watch out for.
Types of Stocks Likely to Fall to Zero
What is a stock that falls to zero? Every stock comes with risks, but some are more risky than others. Besides companies on the brink of bankruptcy, there are certain types of businesses that have a higher chance of becoming worthless.
Knowing what to look for and researching and evaluating stocks before buying is key to building a resilient portfolio. Some of these higher risk stocks might include:
Companies With Weak Business Models
Even if a stock is currently performing well, it may fall in the future if the business model is fundamentally flawed. For this reason, many investors prefer to research a company’s practices, team composition, and business model before investing in its stock.
Penny Stocks
Stocks that trade below $5 are known as penny stocks. These low price stocks tend to be very volatile, as the companies that issue them have low or no profit.
Sometimes penny stocks can even turn out to be scams.
Buying the Dip
Rather than selling stocks when the market declines, some investors believe it can be a good idea to buy while the market is low. By buying the dip, as it’s known, investors pay less for stocks.
And, since these stocks still have the potential to go up in value as the market recovers after the decline, they can be preferred by long-term investors who may have more time to let their portfolio go back up in value.
However, if a company is going bankrupt or otherwise likely to fall to zero, it’s unlikely to offer a strong return on investment.
It’s also very difficult to time the market, so a trader might buy in when they think the market has hit bottom, only to watch it continue to go down.
Generally, building a diversified portfolio can offer higher returns on average over time than trying to time the market based on shorter-term trends or dips.
Examples of Stocks That Fell to Zero
There are two particularly infamous examples of stocks that fell to zero:
Enron
In the 1990s, Enron, an energy company, hid massive losses by using accounting tricks. At one point, its stock price was over $90. In 2001, analysts and investors became suspicious and began asking questions. That same year, the company reported huge losses, and its stock plummeted to $0.26 right before it declared bankruptcy.
World Com
This telecom company falsely inflated its cash flow and net income by listing expenses as investments to hide losses. Its stock price fell from more than $60 a share to less than $1 before the company declared bankruptcy in 2002. 💡 Quick Tip: When you’re actively investing in stocks, it’s important to ask what types of fees you might have to pay. For example, brokers may charge a flat fee for trading stocks, or require some commission for every trade. Taking the time to manage investment costs can be beneficial over the long term.
How to Prevent Holding a Stock that’s Falling Lower
While it’s true that the market is impossible to predict, there are some measures that investors can take to protect themselves from losses — especially in the case of a stock spiraling towards zero. Below are some common preventative investment measures.
Stop Losses
Knowing when to sell a stock is important. Investors can set up a trade to automatically sell shares if a stock reaches a specific price. This type of trade is called a stop loss. It’s a strategy that could help prevent losses in the case of an individual stock or overall market drop.
There are multiple types of stop losses, including trailing stops and hard stops. Trailing stops move the stop level up as the stock rises in value, but stay in place if the stock falls. Hard stops are fixed at a specific price and will execute if the stock falls to that price.
Limit Orders
Limit orders allow investors to set the price at which they want to buy a stock. An investor selects the price and the number of shares they wish to buy. In practice, the order only executes if the stock then hits that price.
This is one way for traders to step away without worrying that they’ll be buying in at a price they didn’t want.
Put Options
A put option is a type of order that gives traders the option to sell or short-sell a specific amount of stock at a specific price, within a certain time frame. If a stock decreases in value in this case, the trader can still sell it at a higher price than it previously held.
Diversifying Asset Holdings
In an effort to prevent losses, investors may want to diversify their portfolios into a mix of non-correlated assets — dividing their holdings between assets at a higher and lower risk of fluctuating in value.
In a diversified portfolio, if one asset class decreases in value, the other types may not. Over time, the ups and downs of each asset could possibly balance the losses in each.
Setting Up a Stock Portfolio
By researching companies and setting up a portfolio according to one’s personal risk tolerance, and then keeping tabs on the assets in that portfolio to monitor their performance, it may be possible to help hedge against a stock sinking down to zero.
FAQ
At what point does a stock become worthless?
A stock becomes worthless when it falls to zero and has no value. In this case, an investor loses the money they invested in the stock.
How low can a stock go before being removed?
Some stock exchanges delist stocks if they fall below a certain level. The New York Stock Exchange will remove a stock if its share price falls below $1 for 30 days in a row, for instance.
Do you owe money if a stock goes negative?
No. A stock price can’t go negative, or, that is, fall below zero. So an investor does not owe anyone money. They will, however, lose whatever money they invested in the stock if the stock falls to zero.
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In the world of interior design, where colors orchestrate emotions and ambiance, one hue stands out as a timeless symbol of sophistication and allure: black. For some, diving into the trenches of bold colors such as black can be daunting. But we’re here to tell you that designing in black doesn’t have to be intimidating. In this Redfin article, we asked design experts to share tips to help you create the ultimate aesthetic using black paint. So whether you’re designing a luxury home in Beverly Hills, CA, or a colonial-style house in Savannah, GA, join us as we unlock the secrets to harnessing the elegance and versatility of designing with black.
1. Contrast with lighter tones
One of the most impactful techniques in designing with black is to juxtapose it against lighter tones. This can also be done in varying design styles (not just ultra-modern). The interplay between deep black and airy, light shades creates a visual contrast that draws attention to both elements. Whether it’s a sleek ebony sofa in a white-walled living room or matte black hardware against a pale kitchen palette, this approach elevates the overall aesthetic while ensuring that the darkness of black doesn’t overpower the space.
In a recent remodel by Dotan Trabulsi, owner of Optimal Remodeling, his team incorporated lower black cabinetry. They supported the dark elements with natural wood upper cabinets, open shelving, and a lighter quartz countertop.
Founder and Principal Designer for Jubilee Interiors, Judi Lee-Carr, shares that, “achieving harmony through contrast is key when balancing black with other colors in minimalist interior design. Black, being a bold and dominant color, can enhance the overall aesthetic while maintaining the simplicity and elegance that defines minimalism.” She continues, “To strike the right balance, try a neutral color palette such as white and beige.”
Shelby, with The Home Styles Group, shares how layering “materials like rope, rugs, burlap fabrics, linen window treatments,” can also balance black features. She mentions that the team at The Home Styles Group enjoys mixing in bold colors like green, blue, or orange.
2. Consider room size and lighting
When designing with black, it’s crucial to take into account the size of the room and the available lighting. In smaller spaces, a heavy use of black can create a cozy, intimate atmosphere, but excessive use might make the room feel cramped. Conversely, in larger rooms, black elements can anchor the space and provide a sense of definition.
Interior designer Sabrina Antony with Kitchen Design NYC shares, “If you’ve got a spacious and light-filled kitchen, go all out.” Antony advises embracing black cabinets with copper metal accents or warm wood blends such as walnut or oak. If unsure, she recommends introducing black in smaller doses-“think chic black shelves, handles, or a snazzy black faucet.”
Shelby, with The Home Styles Group, adds, “due to black being a natural absorbent of light, avoid using too much where there is insufficient lighting in a space.” Think small narrow bedrooms, dimly-lit offices, or powder bathrooms.
This isn’t to say these rooms won’t work with black. Black can add to the space when paired with ambient lighting if you’re seeking to achieve an ultra-modern, moody aesthetic.
3. You don’t have to use paint
Designing with black isn’t limited to painting cabinets, accent walls, or wallpaper. Designing with black can also be introduced by integrating furniture pieces within a space.
Offer Steuer, President of OTM Designs and Remodeling Inc., shares that “in rooms that are desired to be light and airy, it would be better to limit the use of black or opt for a softer, muted shade instead. Consider using black furniture pieces to add black features to the home, such as a sleek black leather sofa or black accent chairs. You can also bring in black through statement accessories like black wheels, lamps, and decorations to create a bold focal point in the room.”
Denise Wenacur, with DW Design and Decor, shares how in one of her bathroom renovations, rather than using paint, they introduced black through floor tile, trim, and accessories.
Moana Dixon, designer for Hunted Fox, skillfully weaves black and white tones throughout her projects, utilizing them to artfully capture the nuances of culture. She pairs the black and white tones with hand-selected decor and accents, hand-pours cement sinks, and bespoke leather headboards, pillows, and drapery.
Final thoughts on designing with black
No matter your home’s design style, integrating black elements has the power to elevate your space into a sophisticated and timeless sanctuary. Whether you’re seeking a minimalist living room or an ultra-modern bathroom, armed with these insights, you can boldly infuse black into your space, crafting a home that authentically embodies your style.
Plumbing is an essential aspect of any modern household, ensuring the smooth flow of water and the efficient removal of waste. However, plumbing systems can be complex whether you live in a house in Columbus or a condo in Sacramento, and homeowners often have questions about their maintenance, repair, and functionality. In this article, Redfin addresses ten common plumbing questions to help you better understand your plumbing system and how to keep it in good working condition.
1. How can I prevent clogged drains?
Clogged drains are a common plumbing issue. To prevent them, avoid pouring grease, coffee grounds, hair, and other debris down the drain. Use drain screens to catch solids and run hot water periodically to clear away the buildup.
2. What should I do in case of a leak?
In case of a leak, it’s crucial to act promptly. Start by turning off the water supply to the affected area or your entire house if needed. This will help prevent further water damage. Next, use towels, buckets, or other absorbent materials to contain the leak. If the leak is from a fixture like a faucet or toilet, you might be able to temporarily stop it by closing the shut-off valve for that fixture. However, it’s recommended to call a professional plumber to assess the situation and perform necessary repairs to ensure the leak is fixed correctly and doesn’t lead to more significant issues.
3. How can I prevent frozen pipes in the winter?
To prevent frozen pipes, insulate exposed pipes in unheated areas, keep cabinets under sinks open to allow warm air circulation, and let faucets drip during freezing temperatures to relieve pressure and prevent freezing.
4. Why does my toilet keep running after flushing?
“Rubber parts and mechanical parts in the tank fail after some time,” says Sean from Economy Plumbing Services. The flapper may have deteriorated (this is the seal that actuates when the toilet handle is operated), allowing the water to pass from the tank to the bowl, or the fill valve (the part that fills the tank) has not shut off. There are various types of toilets with different kinds of seals/parts, so a plumber would need to assess to know what’s wrong.”
5. What’s the difference between hard water and soft water?
Hard water contains high levels of minerals like calcium and magnesium, which can lead to limescale buildup in pipes and appliances. Soft water, on the other hand, has fewer minerals due to a water softener, reducing the risk of scale accumulation.
6. How often should I flush my water heater?
Flushing your water heater annually is recommended to remove sediment buildup that can affect its efficiency and lifespan. This process helps maintain consistent water temperature and prolongs the heater’s longevity.
7. Can I fix a dripping faucet myself?
Yes, you can often fix a dripping faucet yourself. A dripping faucet is usually caused by a worn-out washer or O-ring inside the faucet. Turn off the water supply to the faucet, disassemble the handle, and replace the worn part with a new one from a hardware store. Reassemble the spout, turn on the water supply, and the dripping should stop. However, if you’re uncomfortable with plumbing repairs, it’s a good idea to consult a professional plumber.
8. What’s the purpose of a P-trap under sinks?
A P-trap under the sinks prevents sewer gasses from entering your living space and traps a small amount of water, which acts as a barrier between your home and the sewage system. The curved shape of the P-trap allows water to collect, creating a seal that blocks foul odors from traveling back into your home. Additionally, the P-trap captures debris that could clog your plumbing system, helping maintain proper drainage and preventing potential issues.
9. Are chemical drain cleaners safe to use?
“No, chemical drain cleaners are not safe,” says Liriano Plumbing. “They can be harmful to your plumbing system, as well as to the environment and your health. These harsh chemicals can corrode pipes, potentially causing leaks or more extensive damage. Additionally, the fumes and residue from these cleaners can be hazardous if inhaled or touched. It’s better to use alternative methods or contact a professional plumber to clear clogs safely.”
10. When is it time to call a professional plumber?
It’s advisable to call a professional plumber if you’re dealing with major leaks, sewer line issues, water heater problems, or if you’re unsure about a plumbing task. Attempting complex repairs without proper knowledge can lead to further damage.
In conclusion, understanding basic plumbing concepts can help you address common issues and maintain your plumbing system more effectively. If you’re ever unsure about a plumbing problem, consulting a licensed plumber is the best way to ensure proper repairs and prevent further complications.
Inside: Dreaming of ways to make money fast as a woman? Stop dreaming and take action. These are genius ways of making money online and at home.
Making money fast is crucial for maintaining a comfortable lifestyle, especially in the face of rising living costs. It can be the key to financial stability, providing additional funds to support and enjoy your lifestyle.
As a woman, you need to know how to make money fast.
This isn’t just about getting rich quickly. It’s about women gaining the freedom to live independently without financial constraints.
The feeling of financial security lessens stress; not having to worry over unexpected expenses plays a big role in your overall well-being.
This is what you want to do – make money fast!
Good news! You are in the right spot and I’ll show you my favorite ways to make money online.
Get into the right mindset, ladies! Making money fast isn’t just possible, but also liberating.
How can I make easy money ASAP?
Making easy money quickly can be achieved in various ways that utilize your skills and knowledge.
First and foremost, consider your own skills and expertise, and determine whether they could apply to jobs like cake baking, childcare, bookkeeping, house cleaning, or freelance writing.
This will tell you the easiest way for you to make money quickly. For me, I prefer to trade options in the stock market. Whereas someone else may choose babysitting or dog walking.
You need to find how to make money fast and we will help you with that decision.
Why Making Money Fast is Important
1. Makes it possible to live comfortably 2. Enables you to afford the best quality of life 3. Gives you the freedom to pursue your dreams 4. Gives you the freedom to live without financial constraints 5. Provides you with security and safety 6. Freedom to give back to your community 7. Freedom to choose how you spend your time 8. Opportunity to take risks and start a business 9. Provides you with a sense of power and control 10. Live without financial worry
This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.
Are you passionate about words and reading?
If so, proofreading could be a perfect fit for you, just like it’s been for countless of readers! Learn how you can create a freelance business as a proofreader.
Check out this free workshop!
Bookkeeping is the most stable, reliable & simple business to own. This is how to make a realistic income -either part-time or full-time.
Find out TODAY if this is THE business you’ve been looking for.
How can I make a lot of money in hours?
Making income in a matter of hours for a woman is entirely feasible with a blend of freelancing, leveraging gig economy platforms, and capitalizing on your skills or assets. Here’s a quick guide for you:
Consider freelancing: Establish your writing, graphic design, or programming services on platforms like Fiverr or Upwork.
Dive into the gig economy: Sign up for TaskRabbit, Airbnb, or Turo to start earning.
Try online tutoring or content selling: Proficient in any subject or have strong graphic design skills? Go for tutoring or sell your content.
Indulge in buying & selling: If you’re good at purchasing low and selling high, then swap clothes or furniture, or even stocks.
Take online surveys or join market research groups on sites like Swagbucks for a rapid source of income.
Remember, time management is crucial for balancing multiple streams at once. Don’t forget to schedule wisely!
How to Make Money Fast as a Woman
No matter who you are, making money can be tough. But if you’re a woman, it can feel impossible.
From getting paid less than men for the same job to having a harder time getting promoted, the deck is often stacked against us.
Just so you know that making quick money in one day won’t happen overnight.
So, I’m going to tell you the best ways to make money fast as a woman.
1. Sell Services
Selling your skills or expertise is a fast, viable way to earn money. It’s all about utilizing what you already know to provide value to others.
Identify your marketable skills, such as cake baking, freelance writing, bookkeeping or even organizing spaces.
Brainstorm which of these services people could pay for.
Remember, you can tap into both physical tasks, like house cleaning or pet-sitting, and digital ones, like creating digital printables or offering consulting in your field of expertise.
Expert Tip: Launch your service with a few testimonials, helping to build trust with potential customers from the get-go.
2. Freelance
Freelancing is a savvy way for women to stack up earnings fast, offering flexibility and complete control over the workload. It’s a ticket to dodge conventional office politics and punch above your earning potential.
Start by identifying your freelance niche. You can be a writer, graphic designer, or anything you’re skilled at. Many people use their transferable 9-5 skills to side hustle.
Then, create your profile on platforms like Fiverr, Upwork or Guru – be sure to showcase your accolades.
Set your rates, then start connecting with clients looking for your talent.
Remember, success in freelancing is driven by quality and consistency. So, sharpen your skills and always exceed your client’s expectations.
Freelancing may start as a side gig, but with dedication, it can grow into a full-time job.
3. Become a Product Reviewer
Being a product reviewer is an intriguing job opportunity for those who enjoy sharing candid feedback about their experiences with various products.
As a product reviewer, you are required to assess products often sent to you from diverse companies.
Your role involves providing a comprehensive review that could range from making an unboxing video to writing a detailed article about the product’s features and performance.
This kind of job requires an unbiased perspective and the capacity to articulate your thoughts and experience in a detailed, user-friendly manner.
Companies value this form of direct feedback as it provides them with significant data about their product’s strengths and weaknesses as perceived by an end-user.
4. Virtual Assistants
As a woman, becoming a virtual assistant could be your fast lane to earning a substantial income.
This is especially a great option if you’re excellent in organization and time management along with the need for flexibility.
For many becoming a virtual assistant with no experience is possible. And very lucrative.
Finally, for your best shot at success in this field, taking a course to improve your learning curve is extremely helpful.
Potential to earn up to $43,000 per year.
5. Sell Your Crafts
Ladies, have you thought of turning your love for crafts into a profitable venture?
Find out what crafts are in demand. The higher the demand, the more profitable it would be to make and sell these crafts.
Remember, profitability hinges on what you sell and how much you sell. Happy crafting!
While you are limited on what you can earn by what you can make, it is possible to make money doing something you absolutely enjoy.
6. Stock Trading
Stock trading may seem daunting but it can be a quick route to financial independence, especially for women.
With the right tools, information, and mindset, you can swiftly navigate the market and amplify your earnings. In fact, this is something Teri Ijeoma did herself.
Educate yourself on the basics before you invest. This is exactly what I did and my investment has paid off.
Always be aware of the risks involved in stock trading and proceed cautiously. However, building up an investing education is a wise decision.
Learn how fast can you make money in stocks.
7. Babysit
Babysitting is a versatile side hustle offering flexible hours and good earning potential.
It’s an ideal opportunity if you’re seeking quick, extra income and enjoy children.
Obtain optional certifications like CPR and first aid to enhance your appeal. Visit platforms like Care.com, Sittercity, or Urbansitter to create your profile and connect with clients.
8. Transcriber
One field that remains highly overlooked is transcription.
A transcriptionist listens to audio files and converts them into written documents.
Gain a thorough understanding of the industry. Check out this free webinar to get the basics right.
Consider specializing in legal or medical transcription. These niches often fetch higher wages.
You could easily make $3000-$4000 monthly, working on your own schedule.
Remember, practice and precision can help you achieve a lucrative transcription rate.
9. House Cleaning
Cleaning can be a rewarding gig, especially if you like tidying spaces.
Despite recognizing the need for a clean home, many people often struggle to find the time or energy to routinely clean their homes. This is where the prospect of a housecleaning business arises.
Busy homeowners, parents juggling work and childcare, elderly individuals needing assistance, and even businesses needing regular cleaning services are all potential clients for a housecleaning business. This demand provides a consistent income flow for those offering cleaning services.
In fact, individuals transitioning into this field of work can negotiate their wages with clients, potentially earning more than $15 an hour based on the complexity and demands of the job.
10. Sell Printables on Etsy
Selling printables is an effective and lucrative method to generate passive income.
Once printables such as planners, calendars, and journals are designed, created, and listed for sale on platforms like Shopify or Etsy, they can consistently produce income without requiring continual input or maintenance.
According to several experts, one of the keys to making substantial profits from printables is to differentiate your products.
Building upon this idea of making money from printables, the free Printables Workshop by Gold City Ventures offers comprehensive insights into the process of creating and selling aesthetically pleasing printable products online. This accessible course can be an excellent starting point for beginners looking to navigate the printables market.
Selling printables on Etsy might be the perfect venture for you!
11. Dog Walking
Looking for a fun-filled way to make some quick bucks?
Dog walking could be the right side hustle for you, especially if you’re an animal lover.
Easy to find jobs for dog walking.
Suitable for people with flexible schedules.
Offers an active way to earn money.
Option to select your rates with platforms like Rover.
High demand especially due to increasing pet adoptions and busy pet owners.
You can work when you need to and not take clients when you don’t want too.
12. Make Money Blogging
Blogging is a popular and prevalent way to earn money. Many blog owners are women who want the flexibility to earn significant money at their own pace and schedule.
Earning money through blogging allows you to focus on something you’re passionate about. Any topic that can provide value to an audience can be blogged about. Targeting a niche that has been overlooked by existing blogs can increase your blog’s potential earnings.
Starting a blog doesn’t require formal training, but it does require a willingness and ability to write effectively for an audience.
By employing monetizing avenues, like affiliate marketing and advertising, a blogger can boost their earning significantly.
Despite the vast number of existing blogs, the industry is very accommodating toward new voices, especially female voices. Thus, knowing how to monetize a blog can offer women many opportunities.
Remember, blogging is not just about earning fast bucks, it also needs consistent efforts. It’s rewarding but can start slow.
13. Ride-Sharing
Ridesharing is an excellent opportunity for women looking to make fast money. With apps like Uber and Lyft, you can earn an income simply by offering transportation services.
Here are a few tips to increase your earnings:
Consider driving during peak hours, weekends, or during special events to cash in on higher demand.
Choose busy locations such as city centers and nightlife spots to increase your chances of getting rides.
Maintain good customer service and ensure safe driving to uphold your rating and receive more ride requests.
14. Office Cleaning
Considering the hustle and bustle of the daily grind, office cleaning can be an untapped treasure trove for women seeking quick cash. Given the high demand and flexible hours, it’s an ideal source of extra income.
You must identify office premises needing cleaning services. Reach out to the owners or management, and propose your services.
Think about offering your services to offices in your local area. It’s a fast way to make extra money while managing your other commitments.
15. eBay Arbitrage
Looking to earn some quick money? eBay Arbitrage could be the game-changer you need.
Aimed mostly at women who love shopping, it’s about buying products cheaply and selling them on eBay for a profit.
First, hunt for bargains in thrift stores, sales, or online markets.
Go with high-demand items; electronics, collectibles, or brand sneakers are a good start.
Then, create your eBay store and list your finds at a competitive but profitable price.
Track each item’s demand through keyword research and buyers’ reviews.
Remember to calculate potential profits inclusive of shipping costs and eBay fees.
Armed with the right strategies, you can start earning with eBay in no time!
16. Freelance Writing
Did you know your writing passion can become a quick buck-making engine? That’s right, freelance writing is a gold mine you ought to tap.
First, identify a writing niche you love. It’s easier to excel when you’re passionate about your work.
Continually hone your writing skills. The more you practice, the better you become and the more valuable your skills. Finally, don’t be shy to market your skills. Reach out to small businesses and startups—they often need freelance writers.
Remember, quality over quantity will earn you a solid reputation in the long run. Now, go turn those wordy wonders into wealth!
17. Online Surveys
Curious about making a quick buck? Engaging in online surveys can be a fast money-making method just for you!
You don’t earn a huge amount per survey but when taking multiple surveys, it will add up fast.
Here are the top legit survey platforms:
Use your free time wisely. Take surveys during work breaks or leisure hours.
Redeem points for PayPal cash or gift cards.
18. YouTube Channel Building
Building a YouTube channel can be an interesting and rewarding venture.
It provides an incredible platform to share your content, express your creativity, and engage with a global audience. Whether you want to showcase your talents, teach something unique or simply entertain, having a YouTube channel opens up many opportunities.
Effective engagement with your audience is vital.
Last but not least, patience is something you will need in abundance. Building a successful YouTube channel takes time, so don’t lose hope if you’re not seeing immediate results.
Remember, there’s no limit to what you can achieve with your YouTube channel. It all comes down to how creatively you can use this platform to engage with your audience and grow your presence.
19. Bookkeeper
In our increasingly digital age, online bookkeepers are in high demand, with more businesses choosing to move their financial operations to the online platform. This shift in business operations has created a robust opportunity for those trained in bookkeeping to tap into the market and earn income while working from the comfort of their homes.
To be successful as web-based bookkeeper, you need to be well-organized and have previous experience dealing with numbers. However, even without a formal accounting education, individuals can take advantage of online learning platforms like Bookkeepers.com to learn and sharpen their bookkeeping skills for free.
Becoming a virtual bookkeeper is not just a fantastic full-time job opportunity; it’s also an excellent side hustle for women and mothers proficient with numbers. It provides flexible hours and allows the freedom to work from anywhere, making it ideal for those juggling multiple responsibilities.
The financial compensation for an online virtual bookkeeper is quite significant. On average, bookkeepers can earn at least $50000 a year helping business owners manage their finance and bookkeeping online.
20. Start a Dropshipping Store
Dropshipping is a viable option with low startup costs that lets you run an online store without handling any physical products.
There is still plenty of time to get into the dropshipping business.
Start by deciding what products to sell. Find a niche you’re passionate about for a higher chance of success.
Remember, a successful dropshipping venture involves effective marketing as well. So invest time and effort into perfecting your advertising tactics.
21. Do Clerical Work
Clerical work offers flexible, remote opportunities for women to make quick money.
With adequate admin experience and internet access, you can explore roles like Virtual Assistant, Online Data Entry Professional, or Court Transcriptionist.
This is one of the best non phone work from home jobs.
Experts tip: Perfection and punctuality are key. Attention to detail and meeting deadlines can make you stand out.
22. Resell Clothes
Reselling clothes online is a savvy way to turn your clutter into cash, especially if you love digging for hidden gems.
It’s a popular method for fast cash flow, with Poshmark and Facebook Marketplace being perfect platforms. One of my friends is very successful with this!
Begin with your own closet, and sell kids clothes they have outgrown too.
Reinvest your earnings, by buying second-hand clothing to resell can boost your profits.
Don’t forget quality. Run a quick check for authenticity and brand labels.
Visuals sell. Stage items and capture high-res photographs.
Providing a great customer experience is key, ensuring prompt shipping and maintaining politeness.
Play your cards right, you could earn anywhere between $100 to $1,000 a month or even reach a six-figure yearly income.
23. Do Home-Based Child Care
Home-based child care is a viable option to earn money, leveraging the natural maternal instincts and caregiving skills of many women. It can be a lucrative side hustle and a means to financial independence.
This is especially a great avenue to pursue when you are already at home raising your own children.
Make sure to follow any state regulations about running a daycare out of your home.
Begin by determining the number of children you can handle at a time, taking care not to overbook.
24. Podcasting
Podcasting is a wonderful opportunity for delivering narratives. It enables you to weave compelling stories while inspiring, instructing, or simply entertaining your listeners.
The unique format of podcasting lets you connect with your audience on a personal level. They listen to your voice, engage with your thoughts, and feel a stronger connection to you.
By starting a podcast, you are joining an increasingly popular trend, with the global number of podcast listeners has grown to 464.7 million listeners in 2022 (source).
Podcasting also opens up doors for networking and collaboration. You can invite experts, artists, or like-minded individuals as guests on your show, thus expanding your network.
There’s a potential to earn from podcasting. With affiliate marketing, sponsorships, and advertising, the commercial possibilities of podcasting are extensive.
25. Merch by Amazon
“Merch by Amazon” is a print-on-demand service that allows you to design and sell your merchandise.
It’s a great money-making alternative as it offers massive exposure and doesn’t require any upfront costs.
One of the significant advantages of using Merch by Amazon for passive income is that you are not required to maintain inventory or deal with shipping. Amazon handles these aspects, allowing you to focus on the creation process and customer satisfaction.
Amazon’s royalty system ensures that you get paid instantly whenever your merchandise is purchased. This allows you to earn money passively with every sale.
When your designs meet the current market trends and the preferences of your customers, they are more likely to be popular, leading to an increase in sales, hence, higher passive income.
26. Become an Influencer
Becoming an influencer is a smart, quick way for women to make money. While most people just stumble upon becoming an influencer, you can decide to pursue this avenue.
With earning potential that is unlimited, this opportunity is flourishing, requiring no specific degree or job experience.
Remember, platforms like TikTok, Instagram and YouTube reward new, engaging creators.
Dedication and consistency could lead you to major earnings where you make thousands for each post.
27. Work as a Translator
Having mastery in more than one language opens up a world of opportunities, particularly in the realm of translation services. The ability to translate language effectively and accurately is a skill that’s in high demand in the current globalized world.
A top benefit of being a freelance online translator is the flexible work environment. You have the freedom to choose when, where, and how much you want to work. This flexibility for work-life balance is more appealing now than ever, especially in the unsteady job market.
Freelance translators also have access to a wider client base. Unlike full-time translators who work for specific organizations or agencies, freelance translators can work with various clients from all over the world, widening their potential income streams.
The need for translators is projected to grow substantially. In the United States alone, the U.S. Bureau of Labor Statistics reports that employment for interpreters and translators will increase by 20% from 2021 through 2031, which is much faster than the average for all occupations.
Among other freelance professions, translation can often provide a more stable income.
As most sectors including education, legal, business, medical, and technological firms continue to globalize, they regularly need translators to bridge the language gap, making freelance translation services a steady income source.
31. Become a Flipper
Becoming a flipper is a high-return, low-investment way to make money fast. It involves buying low and selling high, perfect for those wanting a profitable side hustle.
Here are actionable steps to kickstart your flipping journey:
Identify items to flip: Popular options include toys, clothes, electronics, books, and furniture. Pro-tip: Sell things you have around your house to start risk free.
Choose a selling platform: Sell locally via Facebook groups or Craigslist, use reselling apps like Decluttr, or open an online store on eBay.
Price it right: Pricing items competitively garners buyer interest and maximizes profit.
Learn more: Free webinars, like Flipper University and the Flea Market Flipper, offer insights for a successful flipping business.
Remember, flipping can be more than just a side hustle; it’s a potential full-time career.
32. Micro-Tasking
Micro-tasking offers a quick way for you to earn money by completing short and simple tasks.
As its popularity grows, so does the list of platforms where you can find micro-jobs. Here are the popular platforms.
This allows your the flexibility to work whenever you want. Plus no special skills or degrees are needed.
Just note… This is not a stable income source
Tips for Finding the Best Way for You to Make Money
As you can see, there are many different ways to make money fast as a woman.
You can find the best way for you by considering your skills, interests, and the amount of time you have available.
Here are some helpful tips to make sure you are earning money quickly.
1. Identify Your Skills and Offerings
You’re already gifted, let’s transform those skills into fast cash.
Make a list of your skills, passions, and expertise; you can tap into anything from programming to knitting.
That is where you want to start.
From personal experience, I can tell you it is way easier to work on a side hustle or business when you are passionate about the topic.
Remember, the digital world is your playground, so play, innovate and cash-in.
2. Research the Best Ways to Make Money
Now, that you know the skills and experience, look at the list above and determine which ones match up.
You will need to spend time watching a free webinar to learn more.
Compare different money-making ideas. From part-time jobs to freelancing, there’s a plethora of options. You need to pick what works best for you.
Remember, generating a consistent income requires effective strategies and the right mindset. So choose wisely!
3. Try Different Ways to Make Money – Not Just 9-5 Jobs
It’s vital to explore different money-making strategies as a woman for financial stability and independence.
Just because one avenue didn’t work out doesn’t mean you should throw in the towel.
Remember, the key to success is perseverance, so pick something you’re passionate about and stick to it. Try not to jump from one idea to another out of impatience; success takes time.
Also, as your revenue increases, start building a lifestyle business for passive income.
4. Focus on the Things You Are Good at
Unlock your financial potential by recognizing and utilizing things you’re excellent at.
To cash in fast:
Identify your standout skills. These could range from writing, fine arts, math, e-commerce to digital marketing or even passions such as sports and hobbies.
Assess the viability of earning via your skills. Research shows that the digital economy is filled with opportunities.
Exploit platforms that cater to your expertise. For freelance gigs, you can try platforms like Upwork, Fiverr, or Guru.
There are so many ways to make money online as a beginner. So, indulge in the digital playground, embrace exploration and innovation, and let your skills earn for you.
5. Find Opportunities That Allow You to Work Flexibly
You can choose when to work and when not to, rather than being constrained by a 9 to 5 workday. The flexibility to create your schedule means you can operate at your most productive times, whether that’s early in the morning or late at night.
Working from home or any location across the globe enables a better work-life balance, reducing stress and improving productivity. This is particularly beneficial for those who have families or are committed to other obligations.
When working for yourself, you may have the potential to earn more than traditional salaried roles.
Lastly, making a living from your passion is huge!
You are being paid to do what you love anywhere, anytime which is rare and precious.
6. Consider Specializing in a Niche Subject
Specializing in a niche subject can elevate your earning potential quickly, owing to smaller competition and a personalized audience.
Being a subject matter expert in a specific area can provide you with an edge over your competitors.
Specializing in a niche can help you stand out and garner a dedicated audience, ultimately leading to faster earnings.
Remember, the key to making money faster in your specialized area is persistence and patience. It may take time to build a strong following, but once you do, the financial rewards can be substantial.
Stick to your chosen area, continuously learn and improve, and consistently deliver high-quality content to make your mark in your chosen niche.
7. Take Advantage of Trending Opportunities
Jumping on trending opportunities can be a gold mine, especially for women who want to make money fast from home. These ever-evolving trends tap into various skill sets, interests, and experiences, potentially translating into a lucrative gig.
For many, it may have been TikTok when the company first started.
Remember, the digital world holds limitless potential. Just needing to innovate and execute your ideas!
8. Invest in the Right Tools and Equipment
The key to making money, either online or offline, is making an informed investment of your time into the right tools, equipment, and learning resources.
While this can initially seem like an expenditure rather than a money-making step, it is, in fact, a cornerstone of your financial growth strategy.
Investing time in learning and increasing your knowledge base is vital. This could mean spending your time reading about new insights in your area of work, attending webinars, or enrolling in online courses. The ROI of this proactive learning is immense.
Consider this an opportunity or a catalyst that speeds up your journey toward substantial income generation and financial freedom.
9. Commit to Consistent Efforts
Commitment to consistent efforts is the cornerstone of any successful endeavor, more so when running your own side hustle.
One of the fundamental principles for making money is the dedication to keep improving your craft, always learning, and always evolving.
This continual effort involves a long-term commitment to staying updated with the latest writing trends, styles, and industry standards.
With persistence and patience, the fruition of your investments will lead you toward the fulfillment of your financial dreams.
10. Utilize Social Media Platforms to Promote Your Business
Social media platforms are powerful tools for business promotion, and when used strategically, they can lead to fast monetary gains.
Understanding how to effectively utilize these platforms can drastically enhance your chances of making quick bucks.
Start by creating a robust online presence for your business on various social media platforms. Remember, consistency is key to building your brand.
Engage with your audience frequently and respond to their comments. This boosts engagement on your posts.
Post content that is engaging, relevant, and aligns with your business values.
Always monitor your performance using social media analytics to understand what works best for your audience.
Which side hustles for women have you tried?
Personally, here are the side hustles I have done or currently do:
Stock Trading as a swing trader
Online Content Creation
Social Media Influencer
Online Consulting
Pet Sitting or House Sitting
Teaching Dance Lessons
Personal Organizer
However, I know many people that have tried the ones listed above.
So ladies, which of these enticing hustles appeals to your skills and schedule the most?
FAQ
Stay-at-home moms have numerous opportunities to earn money from the comfort of their homes. Plus being able to bump up your household income while juggling parenthood is the perfect combination.
Find the best jobs for moms specifically!
Any of these opportunities requires dedication and consistent effort, but with time they can all yield substantial returns.
Thankfully, there are many ways for women to make money online.
Above we covered all of the interesting ways and many are online.
Remember, opt for an avenue that suits your skills, interests, and time availability.
Well. the answer to this will depend on who you speak with.
Personally, I find ways to build passive income with your side hustle as the best option. Then you aren’t trading your time for money.
As a woman, many opportunities are right at your fingertips. The most popular and profitable include:
Start a blog: With consistent readership, you can make thousands from ad revenue and sponsored content.
Virtual assistant: Services can fetch around $10-30/hour.
Social Media Management: Businesses are willing to pay up to $1000-2000 per month for proficient managers.
Bookkeeping: On average, freelance bookkeepers earn around $34/hour.
Selling products online: Sites like Etsy, Amazon FBA, or your own platform can earn you a substantial income with a successful shop.
Trading Stocks or Options: by improving your investing knowledge, you can quickly increase your net worth.
Remember – it all starts with a step. Your side hustle could turn into a full-time passion!
This is How to Make Money from Home as a Woman
In conclusion, as a woman, there are plenty of genius and fast ways for you to make money.
The article underlines the significance of grabbing the reins of your financial future.
Through the strategies shared – including investing in stocks, working from home, or using budgeting hacks, you can boost your income significantly.
One of the concepts, I’m big on is making sure you know how to make your money work for you.
With wise decisions and being open to possibilities, your financial independence is within reach.
Remember – the ball is in your court, so make sure to take that shot and score your financial goals. It’s high time to cash in on your potential!
Know someone else that needs this, too? Then, please share!!
NOTE: The tax deadline for the 2022 filing season is April 18th, 2023. Learn more about changes the IRS has made here.
Filing your taxes can be complex, time-consuming, and stressful. For these reasons, some individuals and business owners turn to professional tax preparers to handle the tax filing process for them. However, there are numerous online tax software options that allow many tax filers to file their own taxes.
You don’t want to trust your taxes to just anyone. Instead, you want to use an online tax software with a strong reputation and one that can handle all aspects of your tax return. With so many options, it can be hard to determine which online software tool is the best for your specific situation. This professional tax software comparison reviews the top four online options to help you choose the right one.
In This Piece
What Is the Best Online Tax Software?
While there are a number of professional tax software options available, there are a few with a long-standing reputation for providing effective and affordable services. It’s important to note that while this software handles most, if not all, of the tax calculations, you still need to prepare for tax season by gathering all of your tax documents.
Below is a tax software for tax professionals comparison to help you better compare your options.
TaxSlayer
With nearly 60 years of providing tax preparation services, TaxSlayer is one of the top professional tax filing services online. It offers unlimited phone and email support, as well as live chat services for Premium accounts and higher. TaxSlayer also guarantees that its software provides the greatest tax refund, or it will reimburse you the difference.
Best of all, TaxSlayer stands by its services by offering a 100% accuracy guarantee. If there are any issues with your taxes, other than user error, it covers any penalties you may incur. If you’re anticipating a tax return, you can have any service fee deducted right from your refund check to avoid any upfront, out-of-pocket expenses.
Costs: Basic filing of 1040s are free. The Classic package is $19.95, the Premium package is $39.99 and the Self-Employed package is $49.95.
TurboTax
TurboTax is one of the most popular online tax software options available and serves millions of Americans every year. Its services come with a 7-year guarantee that ensures 100% accuracy, which means TurboTax will refund you for any penalties or interests accrued due to an error in its software.
TurboTax offers three tiers of services, including Simple, Deluxe, and Premium. The Simple package is ideal for the most basic tax returns. The Deluxe package is best for those with more credits and deductions, and the Premium plan is for investors and self-employed tax filers. Users can also upgrade to receive unlimited Live Assisted support from tax professionals or opt to have the company prepare their taxes for them.
Costs: Simple 1040 returns are free, if filed by March 31, while Deluxe services start at $59 and Premiums packages start at $105.
FreeTaxUSA
There are several ways you can file your federal taxes for free, and FreeTaxUSA is one of them. Its free services include its Basic, Advance, Premium and Self-Employed packages. These tiered packages are available to individuals, families, contractors, self-employed taxpayers and small-business owners.
TaxFreeUSA also offers a Deluxe package that includes live chat service for an additional fee. State tax filing services start at $14.99. You can import your W-2s and previous year’s taxes for easier filing. Its services include a 100% accuracy guarantee, as well as free federal tax extension filing services and unlimited amends.
Cost: Federal tax filing is free, but you can upgrade to the $7.99 Deluxe package that includes live chat support. State tax filing services start at $14.99.
TaxAct
TaxAct is another popular online tax filing service company. It offers four tiered packages, including its free basic version for simple tax returns, its Deluxe package for taxpayers with loans and children, its Premier package that is designed for investors and its Self-Employed package for those who are self-employed, contractors and small-business owners. All packages include live support through its free Xpert Assist services.
TaxAct lets you import information from your previous year’s tax returns and current year W-2s to simplify the tax filing process. It also offers an accuracy guarantee that covers any penalties and interest you incur (up to $100,000) if there is an error in your tax return due to TaxAct software.
Cost: Basic tax filing services are free. The Deluxe package is $24.98, the Premier package is $34.95 and the Self-Employed package is $64.98.
What to Know about Online Tax Preparation Software
Before selecting an online tax filing service, it’s important to do your research. This online tax service comparison can help you identify the different services various tax filing companies offer. All the services companies listed above offer an accuracy guarantee, which can protect you if there’s an error in the software.
After you compare tax software, it’s important to choose the right package. For example, if you own your own home or have children, you likely won’t qualify for the basic package. If, on the other hand, you’re an investor or self-employed, the premium package might be the best option.
Get Help with Your Taxes
If you’re uneasy about doing your own taxes or have additional concerns, don’t hesitate to reach out to a tax professional, such as a CPA, for tax advice or tax filing services. For more tax tips and resources, check out Credit.com’s online tax education resources.
College is a great place to make lifelong friends. In college, students bond over shared interests, have fun times together, and help each other through some challenging times, cementing bonds that can last for years after graduation.
When you first arrive on campus, however, making friends in college can seem intimidating. Exactly where and how do you meet people? It can feel especially challenging if you go to a large school or you’re in unfamiliar territory, like a college that’s far away from home.
Don’t stress. Making friends in college can be easy. The key is to get involved early on, put yourself out there, and always try to be your true self.
Here are some ways you can go about making friends in college.
Hang Out With Your Roommates
Whether you chose your roommate or went with a random pairing, you may or may not have a lot in common with this individual, at least from the outside. Nevertheless, it can be a good idea to try to forge a connection with your roommate. This will not only make your living situation more enjoyable, but you’ll be able to turn to your roommate when you need support.
You can bond with your roommate by cooking meals, watching favorite shows, and studying together. It can also help to be considerate and respectful of your roommate by not making too much noise late at night or early in the morning, cleaning up after yourself, and chipping in for shared supplies. By respecting your roommate’s boundaries and establishing ground rules for the room, you’ll be more likely to have a good relationship, and perhaps even become good friends, with your roommate. 💡 Quick Tip: Fund your education with a low-rate, no-fee SoFi private student loan that covers all school-certified costs.
Join a Fraternity or Sorority
If you join a fraternity or a sorority, you’ll have the opportunity to make a lot of new friends. While some fraternities and sororities may have bad reputations because of their hazing practices and emphasis on parties, many focus on philanthropy and building friendships instead.
Just keep in mind that joining Greek life can cost $100 to $1,000 per semester, since you are generally required to pay fees or dues. The cost will vary depending on the school and chapter you join, and there may also be additional fees for first-year membership.
You’ll also need to apply to get into a sorority or fraternity and go through a recruitment process to ensure it’s going to be a good fit. Then, if you’re accepted, you will typically live with your fraternity or sorority in a house on campus and socialize and volunteer with them on a regular basis.
Recommended: 11 Strategies for Paying for College and Other Expenses
Get Involved in Clubs
Another easy way to make friends in college is to join a club. At the beginning of the school year, colleges will typically have club fairs, where club leaders set up booths and give information about their clubs to incoming freshmen and transfer students. This is where you can learn more and sign up for an initial meeting.
Some of the various types of clubs you can join include religious, political, academic, cultural, media, and community service clubs. For instance, students can join the school paper, radio or TV station, participate in math and science groups, join an on-campus religious group, find the school’s Republican and Democrat clubs, and volunteer at local animal rescue organizations or homeless shelters.
If you can’t find clubs you’re interested in, you may be able to start one of your own. You’ll likely have to go to the proper office on campus and follow the guidelines for establishing a new club.
Recommended: How to Get Involved on Campus in College
Find Study Buddies in Your Classes
Another avenue for making friends in college is through your classes. You might start or sign up for a study group, which allows students in the same class to do homework and study for tests together. If you make a connection with another student in a study group, you might suggest hanging out after the group is over or meeting up for a coffee or meal on campus another time.
Sign Up for Sports
One of the ways that many students go about making friends in college is by joining a sports team or an intramural sports club on campus. The sports teams are for athletes who are interested in playing on schools’ official teams, while intramural sports clubs are just for fun. Schools offer a variety of different sports like basketball, football, soccer, golf, tennis, and swimming. You can check out the campus life and sports section of your school’s website and look into the options.
Audition for the School Play
Theater clubs or the theater department on campus may hold auditions for school plays. You might consider auditioning for a part and making friends with the cast and crew members during rehearsal. Putting on a play can be a strong bonding experience, allowing you to cultivate lasting friendships.
Recommended: 10 Ways to Prepare for College
Go to Campus Events
Schools are always putting on events. This might include concerts, talent shows, guest speaker series, music festivals, stand-up comedy, and more. You might ask acquaintances to go to an event and/or meet new friends there. If the event is crowded, you might need to be a little more outgoing and start up conversations with the people nearby in order to (hopefully) make friends.
Connect With Other Student Workers
If you have a job or internship on campus, you might try to strike up conversations with your colleagues, as long as it doesn’t interfere with your work. Some places students may work on campus include the college’s admissions office, the endowment office, the dining hall, the coffee shop, the art museum, and the library.
Recommended: Am I Eligible for Work-Study?
Go to Social Gatherings
If your roommates or friends are holding a social gathering or going off campus to check out a local movie theater or restaurant, consider tagging along. This can be a great way to strengthen the bonds you already have, as well as meet new people. Just keep in mind that while parties can be fun, they can also distract from schoolwork and you could end up with lower grades if you are partying too often.
Recommended: The Ultimate Guide to Studying in College
Ask People to Hang Out One-on-One
Whenever you meet potential new friends in classes or through clubs, consider inviting them to hang out one-on-one to get to know them better. For example, you might ask them out for coffee or a meal, to an on-campus concert or show, to work out at the gym, or to a sports game. While this involves putting yourself out there, the rewards of making a new friend can be well worth the risk that they’ll say “no.”
The Importance of Being Yourself When Making Friends in College
Although you may be worried about making new friends in college, you generally don’t want to change your personality or hide who you really are in order to fit in. It may be a little tough at first, but by joining clubs you’re interested in and finding people who accept you for who you are, you could make lifelong friends. It can take some time and might not always happen within the first semester. However, you’ll want to keep trying to meet and connect with new people throughout your four years at college. 💡 Quick Tip: Even if you don’t think you qualify for financial aid, you should fill out the FAFSA form. Many schools require it for merit-based scholarships, too. You can submit it as early as Oct. 1.
Affording College
College is where you can set yourself up for professional success as well as make wonderful new friends. However, if you don’t know how you’ll pay for it, you might feel even more anxiety before embarking on this exciting next step in your life.
Fortunately, there are a number of ways to cover the cost of attending college, including grants, scholarships, work-study programs (which are also great for making friends), and subsidized and unsubsidized federal loans. If you get your financial aid letter and still have gaps in funding, you might also consider a private student loan.
Private loans are available through banks, credit unions, and online lenders. Unlike federal student loans, they require a credit check. However, if you have solid credit (or can recruit a cosigner who does), you may be able to qualify for a competitive interest rate. Just keep in mind that private loans may not offer the same protections that come with federal loans, such as income-driven repayment plans and forgiveness programs.
If you’ve exhausted all federal student aid options, no-fee private student loans from SoFi can help you pay for school. The online application process is easy, and you can see rates and terms in just minutes. Repayment plans are flexible, so you can find an option that works for your financial plan and budget.
Cover up to 100% of school-certified costs including tuition, books, supplies, room and board, and transportation with a private student loan from SoFi.
SoFi Loan Products SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.
SoFi Private Student Loans Please borrow responsibly. SoFi Private Student Loans are not a substitute for federal loans, grants, and work-study programs. You should exhaust all your federal student aid options before you consider any private loans, including ours. Read our FAQs.
SoFi Private Student Loans are subject to program terms and restrictions, and applicants must meet SoFi’s eligibility and underwriting requirements. See SoFi.com/eligibility-criteria for more information. To view payment examples, click here. SoFi reserves the right to modify eligibility criteria at any time. This information is subject to change.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
With rent prices at an all-time high, finding affordable housing is becoming more challenging for all renters. Right now, the average rent for a one-bedroom apartment is $1,722 and the average rent for a two-bedroom apartment is $2,047.
For low-income renters, finding a safe and affordable place to rent is even more difficult. Government programs like Section 8 are in place to help ease the financial burden of rent. But what is Section 8 exactly and how do you find apartments that accept Section 8?
We’ll walk you through the basics of Section 8 and help you understand what it is, who is eligible and how to apply for it. Here’s everything you need to know about Section 8.
What is Section 8?
Section 8, formally called the Section 8 Housing Choice Voucher Program, is a government-funded program run by the U.S. Department of Housing and Urban Development (HUD).
The program aims to help people find and pay for affordable and decent housing. The program gives monthly financial assistance to over 1.2 million households who are struggling to pay rent based on their annual income, which must fall below a certain threshold to qualify for Section 8.
Section 8 housing is not limited to low-income or subsidized housing areas only. Section 8 housing is single-family homes, apartments or townhomes. It’s up to the landlord or property management company to decide whether or not they accept Section 8 vouchers. Some states require landlords to accept Section 8, while other states do not. You’ll want to check with your local government to understand what rules are in place regarding Section 8.
Who is eligible for Section 8?
To qualify for Section 8, applicants must be U.S. citizens (in most cases) and fall under a certain income bracket. While that bracket varies based on the city or area you live in, it generally looks like this:
You make 30 percent of the median income in your area
You make 50 percent of the median income in your area
Typically, priority is given to renters who make less than 30 percent of the median area income as they fall within the category of extremely low income. The local public housing authority must give 75 percent of the Section 8 vouchers to those who make less than 30 percent of the area’s median income. Section 8 will take into consideration all of the gross income generated by people in the household.
Here’s a real-world example for a prospective Section 8 renter living in Los Angeles. The median income in Los Angeles is $71,358 annually. If someone makes $21,407 or less — which is 30 percent of the median L.A. income — they’d qualify for Section 8. To see what the median income in your area is, check out the Quick Facts section of the Census Bureau.
Section 8 does not cover the entire cost of the rent. It subsidizes a portion of it. Typically, Section 8 has the renter pay 30 percent of their salary towards rent and then, Section 8 vouchers cover the remaining rent due.
Section 8 is not an emergency rental assistance program, so keep that in mind if you’re applying for it. It can take weeks or even months to qualify for Section 8. There are often long wait times to receive Section 8 and, generally, only 1 in 4 people receive assistance immediately.
How to apply for Section 8
Section 8 housing can exist anywhere that landlords choose to participate. It’s not limited to certain cities or neighborhoods. Because specific geographic areas determine the eligibility factors, you’ll need to apply through the local public housing authority or PHA.
Here’s a step-by-step process on how to apply for apartments that accept Section 8.
Find your local PHA contact information
Download the PDF with each county’s contact information
Submit an application to verify your eligibility
Wait for approval
Once approved, you’ll either receive your Section 8 voucher or be placed on the waiting list
If you’re placed on a waiting list, here are some tips on how to gauge the actual wait time:
Ask your PHA for a time estimate
Ask your PHA how long the wait list is to see how many people are on it
Ask your PHA for information about the turnover rate to see how quickly the wait list moves
Understand that larger cities usually have longer wait times
Wait times vary city by city but it can take weeks or months to finally receive Section 8 assistance.
Finding apartments that accept Section 8
So, you’ve qualified for Section 8 housing and you’re off the waitlist. Now, it’s time to find an apartment that accepts Section 8 so you can start the apartment search and application process.
Usually, you’ll have 90 days to find an apartment that accepts Section 8. Once you find a place that accepts Section 8, you’ll need the PHA to inspect and approve the unit and the lease. This helps ensure you’re renting a clean, safe and livable place that meets HUD criteria.
There is not a one-size-fits-all approach to finding an apartment or landlord that accepts Section 8, but here is our advice on how to start your apartment search.
Search Rent. using the “income-restricted” filter and ask the prospective landlord if they accept Section 8 vouchers
Use the HUD interactive map to see which areas and apartment complexes accept Section 8
Conduct a basic Google search to see what comes up in your area
Work with non-profit groups that specialize in low-income housing assistance
Settling into your new apartment that accepts Section 8
Now that you’ve qualified for Section 8 and found an apartment that accepts Section 8 vouchers, you’ll want to consider a few other things to set you up for success in your place. Understand the cost of the utilities and security deposits so you can budget accordingly. Also, make sure you thoroughly understand the terms of the agreement of Section 8 — read the fine print! Once you’ve done those things, it’s time to move in and enjoy your new apartment and home.
Sage Singleton is a freelance writer with a passion for literature and words. She enjoys writing articles that will inspire, educate and influence readers. She loves that words have the power to create change and make a positive impact in the world. Some of her work has been featured on LendingTree, Venture Beat, Architectural Digest, Porch.com and Homes.com. In her free time, she loves traveling, reading and learning French.
Fires are becoming increasingly frequent and destructive across the nation, particularly along the West Coast. Your homeowners insurance usually includes fire insurance, safeguarding against all accidental blazes. However, the specifics of your coverage can vary depending on where you live, especially if you own a home in wildfire territory.
So what is fire insurance, what does it cover, and how is it changing? Whether you live in a city with high-fire risk like Brentwood, CA, or in low-risk Duluth, MN, this Redfin article has everything you need to know.
What is fire insurance?
Fire insurance is a specific type of insurance coverage that compensates homeowners for accidental damage caused to their property by fire. It’s often included as part of a standard homeowners insurance policy, but depending on where you live and the specifics of your policy, the coverage can vary.
Does homeowners insurance cover fires?
Yes, homeowners insurance usually covers all fires, including wildfires. In fact, fire coverage is one of the foundational elements of most standard homeowners insurance policies. Here’s a breakdown of what’s generally covered in the event of a fire:
Dwelling coverage: This covers the structure of your home, including walls, roofs, and built-in appliances. If a fire damages or destroys any part of the physical structure of your home, this portion of your policy would help pay for repairs or rebuilding.
Personal property coverage: This covers your belongings inside the home, such as furniture, clothing, electronics, and other personal items. If these are damaged or destroyed by fire, your policy would help compensate you for their value, either at actual cash value (which accounts for depreciation) or replacement cost (which doesn’t factor in depreciation), depending on your policy.
Detached structures: If you have other structures on your property, like a garage, shed, or fence, these are typically covered under a standard homeowners policy if they’re damaged or destroyed by fire.
Loss of use or additional living expenses: If a fire makes your home uninhabitable, this portion of your policy can help cover the costs of living elsewhere temporarily, such as hotel bills, meals, and other associated expenses.
Liability protection: If someone is injured on your property as a result of the fire, or if you accidentally cause a fire that damages a neighbor’s property, this part of your policy may cover legal or medical expenses.
What doesn’t fire insurance cover?
While fire insurance is designed to provide broad coverage for damages resulting from fires, there are certain exclusions and scenarios that might not be covered by a standard policy. Here are some common limitations:
Intentional fires (arson): If the fire is determined to have been set intentionally by the homeowner or with their knowledge, the insurance will not cover the damages.
Vacancy: If a property has been vacant for a specified period (typically more than 30 days), damages from a fire might not be covered. Insurance companies see vacant properties as higher risks for vandalism, theft, and neglect.
War and nuclear hazard: Damages resulting from war, including undeclared war, civil war, insurrection, rebellion, or revolution, are typically excluded. Similarly, fires resulting from nuclear reactions or radiation are not covered.
Other perils: If a fire results from an earthquake, landslide, power outage, neglect, faulty design or materials, or ordinance of law, insurance may not cover your property.
How is fire insurance changing?
With the increasing frequency and intensity of wildfires, especially in places like California, insurers are reevaluating their risk models. Recently, State Farm stopped offering homeowners insurance entirely in California in early 2023. This has led to much higher premiums from other companies in some areas and even refusal to insure homes in particularly high-risk zones. These changes follow the most destructive wildfire seasons in the state’s history, with 11 of the state’s 20 largest wildfires occurring in the past five years.
This follows a trend in other states across the country ravaged by climate change-induced disasters. For example, in parts of Kentucky ravaged by flooding in 2022, flood insurance rates are set to quadruple. Similarly, insurance companies in Florida and Georgia are raising rates due to more frequent hurricane damage.
Insurance markets are regulated by local and federal governments, and many states and counties are struggling to keep their residents insured. In areas frequently hit by wildfires, state governments are stepping in to ensure homeowners can access affordable fire insurance. This might include offering subsidies, such as through high-risk pools.
What can you do?
If your home is at risk of wildfires, there are actions you can take to lower your insurance rates and help keep your coverage. Installing fire protection devices, like smoke detectors, fire alarms, sprinkler systems, and smart home security systems can all help lower your premiums.
It’s also essential to understand the specifics of your coverage. The more transparent and comprehensive your policy is, the better off you are in the case of a disaster.
Final thoughts
Fire insurance is a vital safety net for homeowners, ensuring that they can rebuild and recover after a devastating fire. As the world changes, so too does the landscape of fire insurance. Homeowners should regularly review their policies, stay informed about changes in the industry, and consider the evolving risks and benefits associated with their property.
Studies show that parents spend, on average, more than $650 per child on back-to-school supplies. This number is even higher for adult children heading off to college. With ongoing inflation concerns and rising costs, you, like many other parents, are likely looking for ways to reduce these costs as much as possible.
If you’re lucky enough to live in one of the states that offer tax-free weekends right before school starts, this may be one of your best chances for saving money on clothes, shoes and school supplies. While these events can’t show you how to get more money on your tax return, they can help you save money on sales tax on the supplies you buy now.
What is a tax-free weekend? Keep reading to find the answer to this question and see if your state participates.
In This Piece
What Is a Tax-Free Weekend?
What States Do Tax-Free Weekends?
When Does Tax-Free Weekend Happen?
How to Prepare for a Tax-Free Weekend
Prepare for Tax Season
What Is a Tax-Free Weekend?
As the name suggests, tax-free weekend is a designated weekend, or in some cases even longer, when the state agrees not to collect sales tax on specific items. The idea for tax-free weekends started as a way of helping parents offset some of the costs for back-to-school supplies, such as clothing, shoes and computers. Many states also set limits on what items are tax-free. For example, in many states, only clothing items that cost $100 or less are eligible.
These weekends include both in-store and online purchases. Each state has its own rules for which items you can purchase tax-free and which you can’t. It’s important to understand the specific details of your state before you start shopping.
How Many States Have Tax-Free Weekends?
The number of states scheduling these weekends seems to grow every year. In 2022, a total of 20 states held one or more tax-free weekends, or weeks, during the year.
What States Do Tax-Free Weekends?
First, it’s important to note that five states, including Alaska, Delaware, Montana, New Hampshire and Oregon, don’t have a sales tax, so it makes sense that they wouldn’t participate in these events. Out of the other 45 states, 20 held at least one tax-free weekend.
Participating states in 2022 were:
Alabama
Arkansas
Connecticut
Florida
Illinois
Iowa
Maryland
Massachusetts
Mississippi
Missouri
Nevada (only for members of the National Guard)
New Jersey
New Mexico
Ohio
Oklahoma
South Carolina
Tennessee
Texas
Virginia
West Virginia
When Does Tax-Free Weekend Happen?
When is the tax-free weekend? That depends on where you live. Because tax-free weekend is not a national event, each state sets its own dates and determines how long the event will last. For example, Iowa’s tax-free event runs from Friday to Saturday, while New Jersey holds weeklong tax-free events.
Additionally, some states are starting to hold two tax-free events each year. For example, Florida holds its standard back-to-school tax-free event in late July but also has a tax-free event for outdoor recreational items in early July. Some states are also holding special tax-free events. For instance, in 2022, Tennessee held a tax-free event on groceries for the entire month of August as well as a year-long tax holiday on gun safety products such as gun safes.
When Does Tax-Free Weekend Start?
Because the main goal for tax-free weekends is to help parents offset the cost of school supplies, most states hold their event close to the beginning of the school year. For instance, states with an early start date for school, including Alabama, Mississippi and Florida, typically hold their weekend in July, while other states, such as Missouri, Oklahoma, and South Carolina, wait until August to hold their tax-free weekend.
You can check with your state offices to find out exactly when it starts in your state. Because these tax-free events include online sales, most events begin just after midnight, at 12:01 a.m. on the first day of the event.
When Does a Tax-Free Weekend End?
For a majority of participating states, these events last the entire weekend, including Friday, Saturday and Sunday. Some states, such as Iowa and Arkansas, only hold 2-day tax-free events, while other states, including Florida, New Jersey and Illinois, have weeklong events. Because most of these events begin just after midnight on day one, they often end just before midnight at 11:59 p.m. on the last day of the event.
How to Prepare for a Tax-Free Weekend
If you’re fortunate enough to live in a state that holds tax-free weekends, you want to make sure you head into this event prepared. Here’s a list of tips that can help you make the most of these tax-free events.
Find Out What’s Included
The last thing you want to do is get to the register just to find out some of the items you want to purchase aren’t tax-free. You can avoid this hassle by checking your state’s list of eligible items. If you’re shopping online, make sure no tax was added to eligible items. If you’re shopping in-store, always double-check if you’re not sure what items are tax-free.
Know the Limits
Most states also set limits on how much an item can cost to remain tax-free. In almost all cases, these limits are based on the price per item and not the total of everything you purchase. Be sure to check these limits and track the items you’re purchasing to make sure you don’t purchase ineligible items.
Set a Shopping Budget
Before the event starts, sit down and set a shopping budget. This step can make sure you stay focused on purchasing the things you need the most and prevent you from spending too much money.
Look for Bargains
Tax-free weekends don’t affect the stores’ profits. So, in an attempt to attract the most customers, many stores run sales during these special events. Check out various stores’ online ads to find out which ones are offering the best deals on the school supplies you need most.
Focus on Big-Ticket Items
If you want to get the biggest bang for your buck, focus on purchasing the most high-value items on your shopping list first. This practice can help you save the most amount of money. Just be careful that all the items you purchase are under the eligibility limits.
Prepare for Tax Season
Don’t miss out on the significant amount of savings you can receive at these tax-free events. Do your research and plan ahead. The same can be said about filing your taxes at the end of the year. You always want to do your research and understand how the IRS determines how much tax you owe.
Unless you plan to have a professional complete your taxes, you also want to know how to do taxes. Understanding how the tax filing process works and what credits and tax deductions you can take can help minimize your overall tax burden. If you need more help with your taxes, check out Credit.com’s tax center.
A home for sale by owner opens the door for you to buy the property without a middleman—though you may choose to use your own real estate agent to facilitate the transaction.
Here’s a look at how the homebuying process with a for-sale-by-owner deal can differ from a typical real estate transaction.
For Sale by Owner: Good for Buyers?
When homeowners choose the FSBO (“fizz-bo”) route, they take on all of the responsibilities real estate agents would typically shoulder, from listing the house and showing it to negotiating and closing the deal.
The main motivation for doing so is often cash. Sellers who go it alone can save money on the commission that real estate agents would normally earn. If neither side uses an agent, the deal sidesteps the typical 5% to 6% for agent commissions.
On the buyer’s side there can be a number of benefits of buying a house for sale by owner. First of all, the lack of a listing agent means you have more direct contact with the seller, which might give you more negotiating power.
The seller will also likely have detailed knowledge of the house and neighborhood, which can be a bonus as you decide whether or not you want the property.
However, you may run into some pitfalls with FSBO properties. A seller may love her home and overprice it, potentially complicating matters when you get an appraisal.
Recommended: How to Buy a House Without a Realtor
Using a Buyer’s Agent
Just because a home’s seller doesn’t want to use a listing agent doesn’t mean you can’t engage the services of a buyer’s agent.
You may already be working with an agent who can contact a FSBO seller for you. Or you may need to look for an agent who is willing to take on the job.
In some cases, buyer’s agents may be hesitant to work on a FSBO property. They may be wary of taking on extra liability, or extra work for which they will not necessarily be compensated.
That said, a buyer’s agent can negotiate the sale on your behalf and walk you through the complicated paperwork. If the seller is putting the contract together, your agent can also check the work to make sure you don’t run into any problems.
Sellers typically pay the agent commission. Just be sure the seller agrees to pay the buyer’s agent commission in the purchase agreement.
Here’s what to expect in the buying process when using a buyer’s agent.
Shopping for a Mortgage
Before making an offer on a home, it’s a good idea to shop for a mortgage to get an idea of the terms different lenders offer and how much you are likely to pay each month.
A mortgage calculator can help you understand how down payments of various sizes will affect the numbers. And you may consider getting preapproved for a mortgage to see exactly how much you can afford to spend.
In an FSBO situation, homeowners may have no experience with the home financing process, and getting prequalified or preapproved for a home loan may remove some roadblocks on your path to making a purchase.
Viewing the Home
Your agent can contact the seller and set up an appointment to view the home.
Be on the lookout for sagging floors or cracks in walls that might indicate structural issues. Test windows. Look for water damage on ceilings or walls that may indicate a leaky roof.
Since the seller will most likely be showing the house, take this opportunity to get as much detail about the home’s history as possible. What repairs have been made recently, and which ones haven’t been made in a while? It’s smart to ask about any warranties, and to be sure they will remain after a sale.
Recommended: What to Look for When Buying a House
Getting an Inspection
When buying a home for sale by owner, it’s not in your best interests to skip an inspection. Home inspectors go over the house with a fine-toothed comb, looking at structure, plumbing, electricity, and appliances to see whether they need repair now or in the near future.
If the inspector finds any problems, you can ask the seller to fix them, credit you the cost of repairs, or reduce the sales price. If you’ve already signed a purchase agreement, severe problems found during an inspection can be a reason to pull out of the contract.
Recommended: The Ultimate Home Inspection Checklist
Negotiating a Sale Yourself
If you decide not to use a buyer’s agent, you and the seller will have to negotiate the sale and write up the purchase contract yourself.
You may also choose to hire a transactional agent or attorney who can help you write the contract and ensure it is done legally and in a way that protects your rights.
If you do decide to go it alone, there are a few things to keep in mind.
Recommended: Guide to Buying, Selling, and Updating Your Home
Making an Offer
Before making an offer on a house, check comparable properties in the neighborhood and see if the listing price is reasonable. Doing so can help you pin down what a reasonable offer is.
Consider offering less than the listing price. The seller may ask you to come up in price, but if you start too high, it’s difficult to negotiate down again. You can use the neighborhood comps you’ve researched as a negotiating tool.
Including Contingencies
Contingencies are certain conditions that must be met in order to close the deal. Some common contingencies are a satisfactory home inspection and appraisal.
If a home is appraised at less than the agreed-upon price, a lender may be unwilling to loan the buyer the money. In that case, the appraisal contingency can be an opportunity to negotiate the sales price.
A clear title is another common contingency. The title is a document that shows who has owned and now owns the home. The title company will make sure there are no liens or disputes associated with the property. If there are unresolvable issues, the clear-title contingency gives the buyer a way out of the contract.
Negotiating Fees
It can’t hurt to ask for seller concessions, closing costs that the seller agrees to pay. A seller may agree to help pay for property taxes, attorney fees, appraisal inspections, and the like.
Even in a seller’s market, if the property has been sitting, possibly because the price was too high, a seller may offer a financial incentive to move the home.
Putting Earnest Money in Escrow
Your earnest money deposit is the money you submit with your offer to demonstrate your serious intent to buy.
The listing agent would usually put this money into escrow. But if you’re going it alone, it’s a good idea to engage a title company or escrow company to hold the money for you until the sale goes through.
If you give the money directly to the seller, they may refuse to give it back to you if a contingency causes the deal to fall through, which could mean suing to retrieve your cash.
Determining When You’ll Get Possession
It’s a good idea to be sure your purchase agreement specifies when you will take possession of the new house and receive the keys. Possession may take place immediately after closing, or the contract may give the seller time to move.
The Takeaway
Buying a house for sale by owner can come with challenges and opportunities. It may make sense to engage a professional to help you negotiate, safeguard your interests, and deal with the documents.
If you’re in the market for a mortgage, check out SoFi’s line of fixed-rate mortgage loans that may allow you to put less than 10% down.
SoFi also offers investment property loans.
SoFi Loan Products SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.
SoFi Mortgages Terms, conditions, and state restrictions apply. Not all products are available in all states. See SoFi.com/eligibility for more information.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.