Not Bad! ‘Cash me Outside’ girl Bhad Bhabie is the proud new owner of this $6.1M Florida mansion

For Danielle Bregoli, a.k.a. Bhad Bhabie, her fifteen minutes of fame have proven to be extremely lucrative.  

When the Florida native appeared on an episode of Dr. Phil as a ‘difficult’ teen daughter, she became a viral sensation — and she’s been laughing all the way to the bank ever since.

Six years after her television debut, she’s a recording artist and social media influencer with an estimated net worth of $20 million.

close-up of Bhad Bhabie
 American social media star and rapper Danielle Bregoli aka Bhad Bhabie. Photo credit: Carlos Darder courtesy of the star’s publicist.

And she’s been investing some of her fortune in the Florida real estate market. 

Here’s the full scoop on the ‘cash me outside’ girl’s budding real estate portfolio — recently grown by the addition of a stunning $6.1 million Florida mansion.

Who exactly is Bhad Bhabie? And what did she say?

In 2016, Bhad’s mother Barbara Ann pleaded to her daughter on Dr. Phil in a segment titled, “I Want to Give Up My Car-Stealing, Knife-Wielding, Twerking 13-Year-Old Daughter Who Tried to Frame Me for a Crime.” 

Then named Danielle, the 13-year-old grew irritated by the audience laughing at her teenage antics, and she addressed them with a saying that would make her millions: “Cash me ousside, how bout dah.”

Translation: “Catch me outside, how about that,” meaning let’s take this outside the studio and engage in a physical fight.

Soon after the segment, “Cash me ousside, how bout dah” became a viral meme, and Danielle became known as the “‘Cash Me Outside’ Girl.”

As the catchphrase grew, the clip was recorded by DJ Suede The Remix God and entered in the Billboard Hot 100, Streaming Songs and Hot R&B/Hip-Hop Songs charts.

From there, the song led to a series of dance videos that were uploaded onto YouTube and she was nominated for the 2017 MTV Movie & TV Awards in the “Trending” category based on the catchphrase. 

Living the American dream

It pays off to be a teen with attitude (and poor pronunciation).

That trending catchphrase was the start of a multi-million dollar online career for the now 19-year-old.

Bhad Bhabie in front of her new house with her luxurious car, a Bentley Flying Spur worth over $200k.
Bhad Bhabie in front of her new house with her luxurious ride, a Bentley Flying Spur worth over $200k. Photo courtesy of the star’s publicist.

In early 2017, Danielle was signed by music manager Adam Kluger and she released her first single These Heaux (pronounced hoes) in August.

Reaching number 77 on the Billboard Hot 100, the single made her the youngest female rap artist to debut on the music chart.

From the success of These Heaux, Atlantic Records signed Danielle to a multi-album recording contract. 

Meanwhile, she changed her name and her social media presence was increasing at a rapid rate.

From her Snapchat reality show Bringing up Bhabie, to her extremely successful OnlyFans account, to launching her own record label, Bhad Bhabie has earned millions in brand deals with online retailers such as Fashion Nova and CopyCat Beauty.

And worldwide, her music has been streamed over 1.5 billion times. 

Not bad, Bhad Bhabie!

Bhad Bhabie’s new house & budding real estate portfolio

Bhad Bhabie is proving to be much more than the ‘cash me outside’ girl.

As it turns out, she’s pretty good at managing (and investing) her money.

Exterior of Bhad Bhabie's house in Boca Raton, Florida
Bhad Bhabie’s house in Boca Raton, Florida. Photo courtesy of her publicist.

While she leases a mansion in Los Angeles, she is the owner of two homes in Boca Raton, Fla.

Currently, she owns a five-bedroom, seven-bathroom estate that is on the market for $3.67 million, New York Post reports.

And in March 2022, she coughed up some serious cash for her latest luxurious home in the same upscale Florida neighborhood.

the living room inside Bhad Bhabie's house
The living area in Bhad Bhabie’s house in Boca Raton, Florida. Photo courtesy of her publicist.
Dining area of Bhad Bhabie's house in Boca Raton, Florida.
Dining area of Bhad Bhabie’s house in Boca Raton, Florida. Photo courtesy of her publicist.
The ultra-luxurious kitchen inside Bhad Bhabie's house in Boca Raton, Florida.
The ultra-luxurious kitchen inside Bhad Bhabie’s house in Boca Raton, Florida. Photo courtesy of her publicist.
Every successful self-made woman needs a perfectly appointed home office, and Bhad Bhabie's is flawless.
Every successful self-made woman needs a perfectly appointed home office, and Bhad Bhabie’s is flawless. Photo courtesy of her publicist.

Shelling out a whopping $6.1 million in cash, the 19-year-old internet sensation is the mortgage-free owner of an ultra luxe mansion in one of the swankiest ‘hoods in the sunshine state.

Spanning 9,288 square feet, the dope digs include seven bedrooms and seven bathrooms.

The primary bedroom inside Bhad Bhabie's house in Boca Raton, Florida.
The primary bedroom inside Bhad Bhabie’s house in Boca Raton, Florida. Photo courtesy of her publicist.
Elegant bathroom with seating area and walk-in shower.
Elegant bathroom with seating area and walk-in shower. Photo courtesy of the star’s publicist.
The generous walk-in closet inside Bhad Bhabie's house in Boca Raton, Florida.
The generous walk-in closet inside Bhad Bhabie’s house in Boca Raton, Florida. Photo courtesy of her publicist.

Built in 1983, the “modern 2020 completely redone estate” is located in a gated Palm Beach County community on an acre of land,  New York Post reports.

Bhad Bhabie’s house features a two-story guest house, hurricane impact windows and porcelain tiles throughout.

The eat-in chef’s kitchen offers a walk-in pantry and top-of-the-line appliances, and the primary bedroom boasts three large walk-in closets and an outside Jacuzzi area.

Some of  the other luxurious amenities in the smart home include a billiard/club room, a dry sauna, a wine storage space, a stunning outdoor pool and a five-car garage.

The pool area of Bhad Bhabie's new house.
The pool area of Bhad Bhabie’s new house. Photo courtesy of her publicist.

How Bhad Bhabie customized her house to suit her perfectly

And the rising young star has truly made it her own.

When decorating her new million-dollar abode, Bhad Bhabie put her love of luxury brand Channel on full display, draping her massive bed in fashionable bedding, and stocking her ultra-generous closet space with bags and luxury accessories from the same leading brand.

Inside Bhad Bhabie's ultra-stylish Chanel-branded bedroom.
Inside Bhad Bhabie’s ultra-stylish Chanel-branded bedroom. Photo courtesy of her publicist.
Inside Bhad Bhabie's ultra-stylish Chanel-branded bedroom.
Inside Bhad Bhabie’s ultra-stylish Chanel-branded bedroom. Photo courtesy of her publicist.
bhad bhabie's closet full of chanel bags
The social media star/rapper has lined up her impressive luxury bag collection in the generous walk-in closet of her new mansion. Photo courtesy of the star’s publicist.

Taking advantage of the many parking spaces on the premises, she lined up her collection of luxury cars in front of her newly purchased manse.

The Sun reports that Bhad Bhabie has an impressive $450,000 car collection including a Bentley Flying Spur and luxury Jeep Grand Cherokee. She started collecting luxury cars since she was 14 years old, with the first upscale piece — a white Porsche Panamera 4S Hybrid — costing her a cool $90,000.

A photo of Bhad Bhabie and her impressive luxury car collection.
A photo of Bhad Bhabie and her impressive luxury car collection. Photo courtesy of the star’s publicist.

Now, if the budding star will be growing her real estate portfolio in the same way she’s been adding to her car collection, we expect to continue writing about her new purchases for years to come. And we’re here for it!

More stories you might like

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Where Will Rihanna Live After the Baby Comes? Her Beverly Hills Farmhouse is a Strong Contender
Post Malone’s $3 Million Utah Compound Doubles As a Doomsday Bunker
Celeb Spotlight: Cardi B’s House in Atlanta is Pure Old-World Luxury

Source: fancypantshomes.com

Camping This Summer? Here’s What Gear Is Worth It

Save more, spend smarter, and make your money go further

With summer upon us, it’s a great time to go outside and get away from it all. While figuring out which gear to bring may seem overwhelming, it really doesn’t have to be that complicated. Before you hit the road, let’s talk about the basics as well as a few items worth spending a little more on to help you and your family or friends enjoy a memorable trip in the great outdoors.

9 Essential Pieces of Camping Equipment

Here are 9 pieces of equipment that you’ll definitely want to have before going camping

  • Tent — even if you plan on sleeping under the stars, it will make sense to have a tent in case of inclement weather or emergencies.
  • Water bottle or hydration system — Staying hydrated while camping is a crucial part of being safe. A good rule of thumb is to bring two gallons of water per person per day if you don’t have a reliable water source at your camping location
  • Weather-appropriate clothing — Packing the right clothing for the weather conditions can make the difference between an enjoyable camping trip and pure misery. Having layers and a rain jacket is ideal to ensure you’re covered no matter the weather.
  • Lantern, flashlight or headlamp — Even if you have a fire going it’s always good to have a flashlight on hand to ensure you can navigate safely in the dark.
  • Cooler — Having a good cooler to keep food and drinks in can make a big difference especially on multi-day camping trips. Upgrading to a cooler that can retain ice for 4-5 days is worth it and can be found for under $50.
  • Portable grill or camping stove + fuel — Always check the campsite to see if they have grills available. If not, you’ll want to bring something to cook your food and remember to bring extra fuel. If you plan on using the campfire to cook having a grill rack will do the trick.
  • Toilet paper and hand sanitizer — Even if your campsite has bathrooms it doesn’t necessarily mean there will be toilet paper or soap.
  • First aid supplies — This is a must-have. It’s best to be prepared with a standard first aid kit, even for minor cuts and splinters.
  • Graham crackers, chocolate, and marshmallows —  Got to make sure that you have something fun to do over the nightly campfire!

Camping Equipment to Splurge on

When it comes to camping gear, there are certain things that you’ll want to splurge on. This is especially true if you are a frequent camper or are planning on using it a lot. With some types of camping equipment, it just makes a lot more sense to spend a little more upfront for something that will last longer rather than something cheaper that will break after a few uses.

The first is a good tent. This is something I learned the hard way when I brought a pop-up tent thinking the ease of setup was most important. While set up was easy, it was also easy for the wind to blow the tent down and collapse the tent on us while we were sleeping. Spending a little more on a sturdy tent is well worth it.

Another thing where quality can really make a difference is in a sleeping bag or sleeping pad. After all, you’ll be spending 6-8 hours a day with it, so you’ll want to make sure it’s comfortable and protects you from the elements.

Consider Renting Camping Gear (Instead of Buying)

The cost of buying all new camping equipment can add up quickly. And if you’re on a tight budget, you might be looking for ways to go camping on the cheap. If you don’t want to sacrifice on quality, one possibility is to rent camping gear. There are many companies (both online and local) that allow you to rent things like backpacks, tents, and sleeping bags. This allows you to get high-quality gear for a lower price than buying it outright.

Another option to consider is borrowing, sharing, or buying used equipment. While you might not want to share a sleeping bag with someone else, sharing a tent can make a lot of sense. Many outdoor enthusiasts have a TON of gear and would be happy to let you use or borrow it. This can give you an idea of whether camping is going to be more than a one-time thing, and what gear you’ll need.

6 Amazing Places to Camp

And now that you’ve got all that great camping equipment, here are a few places to consider trying out on your camping trips this summer

  1. Great Smoky Mountains National Park, Tennessee — several different kinds of camping are allowed in the Great Smokies, and you’ll be close to many other types of attractions as well.
  2. Shenandoah National Park, Virginia — amazing views of waterfalls and forests within driving distance of much of the Eastern United States.
  3. Arches National Park, Utah — if you’re a hiker who appreciates amazing views, you’ll want to be sure to check out Arches National Park.
  4. Glacier National Park, Montana — amazing views of the eponymous glaciers are the big draw here.
  5. Acadia National Park, Maine — commune with nature featuring over 17 million acres of forest and 6,000 lakes and ponds.
  6. Big Bend National Park, Texas — kayaking, rafting, and canoeing along with plenty of backcountry camping are a feature of this remote national park.
  7. Los Padres National Forest, California — the redwoods and views of the pacific ocean,

If you’re just getting started, hopefully, these trips can provide some inspiration for a lifelong joy of nature.

The Bottom Line

Going camping with your friends or family doesn’t have to break your budget. While there are some camping essentials you’ll want to splurge on, there are other areas where you can stretch your dollars. This can include renting equipment instead of buying it, borrowing, or sharing with friends. No matter what your outdoor adventures look like, make sure to have a plan for it and fit it within your budget.

Save more, spend smarter, and make your money go further

Dan Miller

Dan Miller is a freelance writer and founder of PointsWithACrew.com, a site that helps families to travel for free / cheap. His home base is in Cincinnati, but he tries to travel the world as much as possible with his wife and 6 kids. More from Dan Miller

Sources

Before you hit the road, let’s talk about camping equipment to help ensure a relaxing trip in the great outdoors.

Source: mint.intuit.com

26 Uses for Salt Around the House

Salt is one of those staples you always have in the kitchen. But don’t limit its use to just flavoring food. It’s a true household workhorse and we’ve found more than two dozen hacks beyond the usual culinary uses.

Salt makes food taste better, but it’s also great for cleaning because of its absorbent qualities. You can use salt around your home for all sorts of cleanup jobs or incorporate it in your self-care routine. Salt scrub, anyone?

Skip the expensive cleaners and grab your salt shaker. We’ve gathered 26 different uses for salt that might surprise you.

What Type of Salt Should You Use?

When you think of salt, you probably think of fine-grain table salt, but you might occasionally need sea salt, kosher salt or Epsom salt for these hacks.

Iodized table salt is the cheapest option — 26 ounces of Walmart’s Great Value store brand is just $.48 — and the most likely one to be in your cabinet. The finer grains make it a great option for many jobs.

Sea salt and kosher salt have larger-grain sizes than table salt. You’ll pay more for kosher salt (about $3 for 3 pounds at Walmart) and sea salt (about the same price for 26 ounces at Walmart). But if you need more abrasion for the task, the price is still cheaper than specialized cleaning products.

Epsom salt isn’t actually salt at all, but magnesium sulfate. You can find it in the pharmacy or beauty section for less than $5 for a 4-pound bag.

26 Uses for Salt Beyond Food

We’ve rounded up ways to use salt as a cleaning agent, as a beauty and health aid, and a few other surprising uses.

Using Salt as a Cleaning Agent

1. Scrub your cutting board.

Is your cutting board looking a little worse for wear? Use salt and a lemon to get rid of stains from last night’s dinner. Wipe your cutting board with a damp cloth, then sprinkle coarse salt liberally all over it. Slice the lemon in half and use it to scrub the salt into the board. Let it sit for a few minutes, then rinse it all off. Remove any excess moisture with a cloth and stand it up to dry.

2. Clean your fridge.

Salt can also be used to clean your fridge. Dissolve a cup of salt into a gallon of hot water to give it a quick clean. You can also use the other half of that lemon to give the water a pleasant scent.

3. Freshen up your sponges.

Has your kitchen sponge seen better days? Put ¼ cup of salt in two cups of water and let the sponge soak in the solution overnight to clean it.

4. Clean a glass coffee pot.

You can clean old coffee stains off your coffee pot with 4 tsp salt, 1 cup of crushed ice and 1 tablespoon of water. Make sure your coffee pot is at room temperature and mix everything together. Swirl it around until the pot is clean, then rinse.

5. Clean coffee and tea stains from mugs.

Once your coffee pot is clean, why not clean out your mugs? Get the inside of the mug wet, add 1 tablespoon of salt and scrub it around with a microfiber cloth. Rinse the mug out with water.

6. Make a new broom last longer.

Before you use a broom for the first time, soak it in a solution of one part salt to one part vinegar. Leave it in for 30 minutes and then stand it upside down to dry. This will prevent the broom bristles from fraying.

7. Erase spots off wooden tables.

Do you have water rings left on your table? Combine salt with a small amount of water to form a paste. Use a cloth or sponge to rub the paste into the stain until it’s gone.

8. Remove wine stains from clothes and carpets.

Blot the stain to remove what liquid you can, then sprinkle kosher salt on the stain. Allow the salt to sit for two or three minutes, then rinse with cold water. If using the salt method on a carpet, you can simply vacuum it up afterward.

9. Keep your brass bright.

Restore the shine to your brass and copper items with salt. Combine 1 tsp of salt and 1 tbsp of flour with enough vinegar to form a paste. Rub the brass or copper vigorously on to brass or copper and allow it to dry. Wash the item in warm soapy water and dry with a microfiber cloth.

10. Clean up your old change.

Do you have dingy old pennies in your change jar? Mix ¼ cup of vinegar and 1 tsp of salt in a shallow bowl. Soak the pennies for 15 minutes, making sure they aren’t touching. Use a toothbrush to remove any stubborn residue, then rinse the pennies in water and lay them on a cloth to dry.

Only do this hack if you’re not concerned about coin collecting. The abrasive effect of salt can lower a coin’s value.

11. Brighten the colors of rugs and curtains.

Revitalize old rugs by rubbing them with a cloth that has been soaked in salt water. Smaller throw rugs, curtains and clothes can be soaked in salt water before being put in the washer to brighten their colors. Short on time? Throw some salt in with the wash cycle.

12. Clean your clothing iron.

Give your iron a quick clean by putting sea salt on a piece of paper, then running the warm iron over it a few times. The dirt will stick to the salt. Allow it to cool, then wipe the salt off the metal plate with a damp cloth.

13. Deodorize your sneakers.

Salt can take the smell out of your stinky shoes. Just sprinkle some table salt into the offending pair, let them sit overnight and it will absorb any moisture. Don’t want to put salt directly into your shoes? You can also put the salt into two coffee filters, tie them off with rubber bands and place them in your shoes instead.

A woman applies a salt face mask.
Getty Images

Salt for Self-Care

14. Make your own skin exfoliant.

You can use sea salt, kosher salt, Epsom salt or any other salt in your cabinet to create an invigorating body scrub. Mix the salt with an oil, such as coconut or olive. You can also customize the body scrub by adding essential oils, honey or coffee grounds. Hop in the shower and use your homemade salt scrub to exfoliate your damp skin.

Only use salt scrubs on your body. The coarser grains aren’t good for delicate skin, so use sugar if you want to make a face scrub.

15. Treat dandruff.

If you have a case of dandruff, don’t run to the store for an expensive remedy. Add a tablespoon of salt to your regular dollop of shampoo to exfoliate your scalp. Massage your scalp and shampoo as normal.

Have some Epsom salt handy? Get your hair wet and massage the Epsom salt into your scalp. Follow up with your regular shampoo and conditioner.

16. Take a sea salt bath.

If you don’t have the time to make a body scrub, just throw some sea salt into your bath. It can help relieve skin conditions like psoriasis and eczema, and ease muscle aches.

Make sure the water temperature is only about two degrees warmer than your skin to help your body absorb the nutrients. Pour in ¼ cup of salt and relax in the tub for 20 minutes. If ¼ cup doesn’t feel like enough, you can experiment with up to 2 cups of salt.

17. Relieve bee and mosquito stings.

If you get stung by a bee, reach for the Epsom salt. It reduces swelling and can help expel any stinger pieces that have been left behind. If you’re bitten by a mosquito, a paste made from water and table salt will help soothe the affected area.

18. Relieve a sore throat.

Gargling salt water can help with your sore throat and allergy symptoms. Mix ½ tsp of salt with 8 ounces of warm water and gargle for as long as you prefer. Repeat as often as needed. Salt water rinses can also help alleviate canker sores and improve dental health.

Salt for Pets

19. Get rid of fleas.

If your home is experiencing a flea infestation, you can fight them with finely ground table salt. You can grind the salt into a powder using a blender. Sprinkle it on your carpet, furniture or pet bed and allow it to sit undisturbed for 12 to 48 hours. Brush the salt into the fabrics so it gets down into the fibers where flea eggs can hide. Once the waiting period is over, vacuum it up. The salt will dry the fleas out and kill them.

Just be sure to not allow your pets around the salted area. Salt can be harmful if ingested and can irritate their skin.

Salt for Outdoor Use

20. Kill weeds in your sidewalk cracks.

If you have weeds poking through your sidewalk or patio stones, you can use salt water to kill them. If other plants are around the weeds, use a weak mixture of 3 parts water to 1 part table salt. If the weeds are by themselves or the quality of the soil isn’t an issue, you can make a stronger solution. Use a spray bottle to apply the saltwater to the weed’s leaves.

Need a stronger solution? Add dish soap and white vinegar to make it more effective. Repeat every few days.

21. Kill Poison Ivy

If you found some poison ivy while tackling your weeds, salt can take care of that too. Mix 3 cups of salt, ¼ cup of dish soap and 2 cups of hot water. Spray it on the plant every few days until it dies.

22. Remove rust.

Are your garden tools looking a little rusty? Rub salt over the rusted area, then squeeze lemon juice onto the salt. Let sit for two hours and then scrub the mixture off.

Salt sits in a small brown wooden bowl.
Getty Images

Salt for Other Household Solutions

23. Keep fruit from browning.

You can sneak some apple or pear slices into lunch boxes and they won’t brown if you soak them in salt water after cutting them. Use ½ teaspoon per one cup of water and soak the fruit for five minutes, drain and store.

24. Test eggs for freshness.

We’ve all been there — sometimes eggs don’t get used by the “best by” date. You can test the freshness of your eggs by placing them in cold saltwater. If the egg is still usable, it will sink to the bottom. Eggs that have gone bad will float.

25. Make cut flowers last longer.

Make that bouquet last longer by putting 1 tbsp of Epsom salt in its water. Epsom salt contains magnesium, which helps plants absorb nutrients.

26. Put out a grease fire.

If you happen to accidentally start a grease fire, liberally douse it with salt. Aim directly above the fire so the flames don’t leap out. You can also use it on your outdoor bonfire to help snuff out the embers.

Contributor Jenna Limbach writes on financial literacy and lifestyle topics for The Penny Hoarder from her home base in Utah.

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Source: thepennyhoarder.com

NetCredit Personal Loans 2022 Review

There are places to get loans even if your credit score has fallen off the cliff. You may need that extra money for a medical or housing emergency despite the fact you have other financial obligations or are not making a top salary.

NetCredit is a lender that caters to clients with low credit ratings. That low credit score will cause you to pay a higher interest rate, though, because the lender feels you are at higher risk of not meeting your payments.

Take out a loan or open a line of credit from NetCredit, make your payments on time and you will likely see your credit rating climb. We review NetCredit here so you can decide if this lender is right for you.

What Is NetCredit?

NetCredit is an online lender, offering unsecured personal loans (and lines of credit) through their partnership with Republic Bank & Trust Company. Available in 36 states, NetCredit believes that borrowers are more than just their credit score and claims to use a broader financial summary of borrowers’ finances to create a loan plan that works for borrowers — even those with a poor credit history.

While a NetCredit personal loan is better than a payday loan, NetCredit’s personal loans have high APRs. Those APRs range from 19% to 155% depending on your state and that can make paying back the loan difficult.

We like that NetCredit’s loan term is decently flexible with repayment terms ranging from 6 to 60 months and that they have a fast deposit time. But with such high interest rates, NetCredit won’t be a good choice for most.

Personal Loans vs. Lines of Credit

Before we dive into NetCredit’s loans, here’s a quick review of NetCredit’s two services: personal loans and lines of credit.

Unlike a personal loan that is received as a lump sum, NetCredit’s open-end line of credit works as a flexible, revolving account. Basically, you can access the money up to the borrowing limit and then once repaid, you can access it up to that limit again.

NetCredit offers lines of credit with varying maximums and minimums depending on your state, but mostly an average of $500 to $4,500. To find your state’s limitations, check out NetCredit’s Rates and Terms.

Lines of credit are most often used to supplement income if borrowers run into a cash shortage. While helpful, most people use NetCredit for large upfront expenses like to consolidate debt or cover a large home expense, so a personal loan is more helpful.

Accordingly, this review focuses on NetCredit personal loans, but if you’re interested in understanding lines of credit better, check out our full review of what a line of credit is and how it works.

Things to Know About NetCredit Personal Loans

NetCredit can seem like a lifesaver for people with poor or nonexistent credit looking for a loan, but it’s important to understand what you’re really paying for with a NetCredit loan and how much it’s going to actually cost you.

Below, we outline key points to consider before you sign up for a NetCredit personal loan.

NetCredit Personal Loans

Best for Bad Credit Loans

2.5 out of 5 Overall

Key Features

  • High interest rates
  • Flexible loan terms
  • Quick approval time

NetCredit personal loans are high interest options for people who have poor credit. They offer flexible loan terms and upfront fees to help you find a loan that works for your financial situation. Interest rates, loan terms and line of credit ranges vary by state.

NetCredit Personal Loans

Interest rate ranges

19%-155%

Minimum credit score

Not disclosed

Loan amounts

$1,000 – $10,000 ($10,500 if in California)

Loan terms

6 to 60 months

Line of credit amount range

$500 – $4,500

Features Covered in NetCredit Review

There are a number of features of a NetCredit loan or line of credit that you’ll want to understand before (electronically) signing on the dotted line. We go into detail about them here so you can decide if NetCredit is right for you.

Keep in mind that one of its top selling points is that it works with clients with bad credit and there is no penalty for paying off a loan early.

Lending Terms

NetCredit mostly offers personal loans from $1,000 to $10,000, but in some states actually offers loans as little as $500 and as much as $20,000. You can look up your personal offerings by state on NetCredit’s Rates and Terms.

Unlike some online lenders that have specific, unbendable loan timelines, NetCredit’s loan terms range from six to 60 months. If you qualify for a NetCredit loan, it’ll allow you to pick your loan term amount. Just remember that while a long loan term does reduce monthly payments, it ultimately costs you more interest over time.

Interest Rates

NetCredit follows state lending laws that limit interest rates, so their rates vary depending on location and can range from 19% to 155% APR.  Where you fall in this range depends on your state of residence, your credit history, your monthly payment expectation, and the amount you plan to borrow.

These high APRs situate NetCredit somewhere in between other online lenders that often have lower APRs and payday loans that have even higher APRs.  While we’re grateful NetCredit’s APR is a more affordable option than payday loans, NetCredit’s high rates can really tank your finances.

For example, say you borrow $1,000 at 87% APR with a three-year repayment period. Here are  the totals you’ll end up actually paying for that $1,000 loan:

  • Monthly payment: $78.85
  • Total Interest paid: $1,838.44
  • Loan Cost: $2,838.44

The low monthly payment can initially seem pretty enticing, but you’ll end up paying almost three times the original loan thanks to the high interest rate. Basically, this interest can make getting yourself out of debt pretty difficult.

Fees and Penalties

NetCredit charges several fees and penalties depending on where you live. For example, in most states, NetCredit charges a late payment fee of $25 and an origination fee of 5% of the loan amount.

Thanks to NetCredit’s ClearCostForMe program, your specific fees should be explained up front before you sign up so that the extra costs for the personal loan will be clear — just make sure to read all the loan details.

One thing we do like about NetCredit’s fees is that they do not have a prepayment penalty. They don’t penalize you for paying off your loan early which we suggest you do as soon as possible to avoid the effects of NetCredit’s astronomical interest rates.

Availability

NetCredit serves 36 states: Alabama, Alaska, Arizona, Arkansas, California, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, New Jersey, New Mexico, North Dakota, Ohio, Oklahoma, Oregon, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Washington, Wisconsin and Wyoming.

How to Get Started With NetCredit

If you’re moving forward with a NetCredit personal loan, the requirements to apply for a NetCredit loan are minimal. To apply, borrowers must:

  • Be 18 years or older (19 in Alabama and Delaware and 21 in Mississippi)
  • Have a valid personal checking account
  • Have an active email address
  • Have a verifiable source of income

Once you’ve applied, you can be approved for a loan in as little as one business day. NetCredit claims to determine your approval based on a broader financial picture, not just your credit score which often means people with less-than-perfect-credit scores still stand a chance at approval.

If approved, you’ll then fill out a form explaining the loan’s purpose and providing employment and income details, desired loan amount, repayment terms, and your social security number, and NetCredit will create the final loan terms for you to look over and sign.

Should I Get a Loan With NetCredit?

The short answer is, not if you can avoid it. While NetCredit is a good service as a last resort, it should always be treated as such. A personal loan from NetCredit comes with a high APR, which makes the cost of borrowing substantial. If you can afford to, we suggest you look elsewhere.

If you do decide to go with NetCredit, we recommend you read the loan details carefully so that you understand exactly what you’re paying and then try to pay it off as early as possible!

Alternatives to NetCredit

If you’re wary of NetCredit’s high APRs like we are, check out a few other options to consider to meet your financial needs.

Other Personal Loan Lenders

These days there are a lot of other lenders that offer much lower APRs than NetCredit. Some even advertise similar promises for fair credit scores. For example, Upstart claims to take a look at more than just your credit score and has more reasonable APRs of 9.57% to 29.99%. While it does require a credit score of 580 in most states, the lower APRs are well worth it if you can qualify. If you’re interested, check out our UpStart review.

Secured Loans

Secured loans–like a HELOC–are another option to help with your cash flow problem. These types of loans have collateral behind them so they’re less risky for lenders which normally means lower interest rates for the borrowers. You are of course risking whatever you use as collateral, but the lower interest rates can make paying off the loan much easier.

Balance Transfer Card

If you’re thinking about taking out a personal loan for debt consolidation, you might think about a balance transfer card. A balance transfer card is like any  other normal credit card except it also allows you to move a balance from one card to another. Most often what this does is buy you time, allowing you to move your balance to a card that might have a lower APR or a low introductory rate. It’s not a permanent solution to debt, but can be a big help.

Renegotiate Credit Card Debt

You can also try to negotiate with your creditors. Some things you might think about is asking for a forbearance or hardship plan, asking the lender to erase your late fees, or seeking out a debt management program.We suggest you check out the Negotiating Credit Card Debt page to help flush out your options.

Pros and Cons of NetCredit

Now that you’ve got the basics, here are the pros and cons of how we see NetCredit stack up as a whole.


Pros

  • Approval possible on the same business day
  • Loan options for people with bad credit
  • Soft credit check available
  • Opportunity to build credit


Cons

  • High APRs
  • Origination fees and late fees
  • Not available in all states

Know What You’re Getting Into With a NetCredit Loan

First, we admire NetCredit’s quick turnaround on approvals and deposits. NetCredit claims they can have you approved and money in hand the same day. While that’s possible with other online lenders, some banks will take as long as five business days to disburse your money, so if you’re in a bind, NetCredit can help you quickly.

We also like that NetCredit offers a soft credit check called MyScoreSaver that allows you to understand your personalized loan terms without a hard credit pull.

Finally, we like that NetCredit reports to the major credit bureaus. So as you pay off your loan on time, you can build your credit. There are other less expensive ways to build your credit, but if you’re going to be using NetCredit anyway, this is a nice perk.

Despite all these positives, we have to emphasize NetCredit’s high APRs and fees. NetCredit’s interest rates range from 19% to 155% — and can make it difficult to get out of a cycle of debt.

Plus, NetCredit has a $25 late fee and 1% to 5% origination fee depending on your location. While these fees aren’t exorbitant, there are some online lenders that waive these fees completely.

Frequently Asked Questions (FAQs) About NetCredit

If you’re still wondering about NetCredit, check out some of the most frequently asked questions to help you figure out if NetCredit is right for you.

Is NetCredit Legit?

NetCredit is a legitimate online lender working in partnership with the Republic Bank & Trust Company as an option for people with bad credit scores seeking a quick money source.

NetCredit’s history has not been without its problems however. In 2018, the Commonwealth of Virginia sued NetCredit for misleading borrowers and working in Virginia illegally. In addition to that lawsuit, NetCredit currently has 125 complaints at the Consumer Financial Protection Bureau in the last year. 

So the straight-forward answer is that NetCredit is legitimate, but we suggest you understand the terms of your loan before you sign.

How Long Does NetCredit Take to Deposit?

NetCredit advertises same-day approval. The approval process can sometimes take up to three business days with the money depositing one business day after the loan is approved. This deposit time is quick and one of the reasons NetCredit can help if you’re in a bind.

How Much Interest Does NetCredit Charge?

NetCredit’s APRs range depending on where you live and your financial history, but can be anywhere from 19% to 155%. You can look up your state’s specific range on NetCredit’s Rates and Terms.

Is NetCredit a Predatory Lender?

NetCredit isn’t a straight-forward predatory lender, but they do have some predatory lender-like practices, namely high interest rates. 

Enova International, NetCredit’s parent company, has been put on the NCLC’s High-Cost Rent-a-Bank Loan Watch List for suspicious activities regarding possibly skirting state laws that are meant to protect borrowers. 

Even the NetCredit website itself references that fact that there may be lower APRs available on the mark. So no, NetCredit is not on some official predatory lender list, but it is worth watching and being careful what you sign up for.

​​Contributor Whitney Hansen writes for The Penny Hoarder on personal finance topics including banking and investing.

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Source: thepennyhoarder.com

How to Avoid Taxes on Social Security

Uncle Sam cutting Social Security benefits
Jim Barber / Shutterstock.com

Editor’s Note: This story originally appeared on NewRetirement.

As you prepare for retirement, it’s essential to understand what your taxes will be.

You may think your Social Security benefits are tax-free. After all, why would the government pay you money with one hand and take it back with the other?

But the truth is, you may pay taxes on your Social Security benefits if you have other sources of income in retirement.

At a certain level of overall income – that includes your Social Security benefits, paid work, withdrawals from investments, passive income or other sources – your Social Security benefits are taxed. And, if you work while taking Social Security before your full retirement age, your benefits are reduced.

Following are the ways your Social Security benefits could be reduced and how to handle them.

Social Security and Federal Income Tax

Social Security taxation
designer491 / Shutterstock.com

Once you hit a certain age, the rules for Social Security taxes are similar to other federal income taxes in that the more money you make overall, the more you are taxed.

But even at the highest tax rate, at least 15% of your Social Security benefits are shielded from tax.

IRS Rule of Thumb for Social Security Taxes

The IRS has a rule of thumb for savers who want to see if their Social Security benefits are taxable: add one-half of your Social Security benefits to all your other income, including tax-exempt interest.

Lowest Bracket: If the number is greater than $25,000 for single filers or $32,000 for married couples, you will owe tax on your benefits.

Middle Bracket: If you exceed the threshold for tax-exempt benefits, but your combined income for single filers is below $34,000, you pay tax on half of your benefits. Fifty percent of your benefits are taxable If you are married and filing jointly, and you make between the minimum amount but less than $44,000 in combined income.

Highest Bracket: Single people making more than $34,000 and married couples making more than $44,000 combined income have 85% of their benefits taxed. But remember, that doesn’t mean the government takes 85% of your benefit!

Fifteen percent of the benefit for high earners is tax-free, and the part that is taxable is only taxed at your income tax bracket, for example, 24% for married couples making between $168,401 and $321,450.

State Taxes on Social Security Benefits

A padlock on Social Security cards
larry1235 / Shutterstock.com

The rules given above for taxing Social Security benefits only apply to federal taxes.

Thirteen states also tax Social Security benefits.

  • Four states tax them the same way the federal government taxes them.
  • Nine states make exemptions for age or income, reducing the tax burden somewhat.

Thirty-seven states do not tax Social Security benefits.

States That Tax Social Security Like the Federal Government

Minnesota, North Dakota, Vermont, and West Virginia apply state taxes to Social Security benefits using the same brackets as the federal government.

States That Tax Social Security Benefits but Have Different Rules Than the Federal Government

These states each have their own taxation rules for Social Security benefits: Colorado, Connecticut, Kansas, Missouri, Montana, Nebraska, New Mexico, Rhode Island, and Utah.

States That Do Not Tax Social Security Benefits

These 37 states (and the District of Columbia) do not tax Social Security retirement income: Alabama, Alaska, Arizona, Arkansas, California, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Mississippi, Nevada, New Hampshire, New Jersey, New York, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, South Dakota, Tennessee, Texas, Virginia, Washington, Wisconsin, and Wyoming.

Additional Social Security Deductions If You Work and Collect Benefits Before Full Retirement Age

Image Point Fr / Shutterstock.com

State and federal taxes are not all you need to worry about with Social Security benefits. There can also be a temporary reduction in benefits if you have not yet reached full retirement age and you are receiving work income above a certain level.

So while you are allowed to start benefits as soon as you turn 62 , the sooner you start collecting your benefits, the less your monthly benefit will be. Conversely, the longer you wait (up to 70 years old), the more your monthly income will be.

And the other downside to starting benefits early is that if you elect to start collecting benefits before your full retirement age and you are also still receiving work income, you will get less money than if you wait to collect, and the combined income you get will be subject to tax.

The full retirement age from 2022 onward is 67 for anyone born after 1960.

Temporary Reduction in Benefits if You Are Working

For work before full retirement age, Social Security will deduct money from your benefits according to the following guidelines:

  • If you are under full retirement age for the entire year, Social Security deducts $1 from your benefit payments for every $2 you earn above the annual limit. For 2022, that limit is $19,560.
  • In the year you reach full retirement age, Social Security deducts $1 in benefits for every $3 you earn above $51,960 for 2022.

However, you will get those lost benefits back because your Social Security payments will be increased when you reach your full retirement age. (This is to take into account those months in which benefits were withheld.)

And, after you reach full retirement age, you will no longer pay a work penalty. The month you reach full retirement age, you receive your full benefit whether you work or not. (However, as stated above, up to 85% of your benefits may be taxed by the Federal government and state governments if you earn more than the limits.)

Summary

To put it simply, if you work before your full retirement age, your monthly benefit is cut by a dollar for every two dollars you make above the $19,560 limit. For example, if your monthly benefit is $800 ($9,600 per year), and you earn $29,560 ($10,000 over the $19,560 limit) from work, your benefit will be cut by $5,000 to $4,600 for the year.

But that also means that your potential tax burden will be less.

If you work after full retirement age, you will receive your full monthly benefit no matter what, but depending on how much money you make, up to 85% of your Social Security benefits will be taxable at whatever your marginal tax rate is.

How to Reduce Your Social Security (and All Retirement) Taxes

Senior man working on a laptop
Monkey Business Images / Shutterstock.com

Taxes are a significant cost and can eat away at your retirement savings and income potential. Tax planning should be a critical component of creating a reliable retirement plan.

One of the easiest ways to reduce tax expenditures is to (legally) reduce your annual income levels to stay in the lowest possible tax bracket. Remember, the less you earn, the less you are likely to pay in taxes.

The NewRetirement Planner makes it easy to create a tax forecast for the rest of your life. The system automatically calculates your:

  • Federal tax based on the latest IRS publications
  • State taxes — using the specific rules for all 50 states
  • Work penalties

To create these forecasts, the NewRetirement Planner gives you robust inputs to create the most reliable projections possible. You can:

  • Set different levels of income throughout retirement to approximate your tax bracket for each year. Additionally, it allows you to specify if annuity and/or pension income should be taxed (at both the federal and state levels).
  • Get automatic estimates for how much of your Social Security income will be considered taxable based on the state you live in and your gross taxable income by year.
  • Specify how much of your savings are in different types of taxable and nontaxable accounts and it automatically calculates the tax liability (or lack thereof) for each account, as well as tax deduction handling of contributions. (And, if you live in a state that doesn’t tax retirement savings withdrawals, the NewRetirement Planner supports that, as well.)
  • Get estimates for your required minimum distributions (RMDs) from retirement accounts starting at age 72 — a significant lever when it comes to tax liability in retirement.
  • Choose whether investment returns on after-tax savings should be treated as long-term capital gains or ordinary income.
  • Model a Roth conversion and get an estimate on the tax hit in the year of the conversion as well as the benefit down the road when you draw from the Roth account.
  • Model relocating to a new state, and the system factors that in and uses your new state’s tax rates for the years following your planned move.
  • See estimated taxes, gross taxable income by source, and your federal tax deductions for every year until your goal age — again enabling you to see opportunities for reducing your tax expense.

Want more retirement planning tax tips? Check out “Retirement Planning and Your Taxes: Tips for Keeping More of Your Own Money.”

Disclosure: The information you read here is always objective. However, we sometimes receive compensation when you click links within our stories.

Source: moneytalksnews.com

Grammy Award Winner Doja Cat Lives in a $2.2M Beverly Hills Home With Distinctive Flair

Doja Cat has come a long way from making funny videos on YouTube.

The singer, rapper and songwriter is enjoying her well-deserved success, and with hit after hit rising to the top of the Billboard charts, she is now estimated to be worth around $8 million.

She’s now also a Grammy Award-winner, who just nabbed her first statue for best pop duo/group performance for Kiss Me More, a collab with fellow singer/songwriter SZA.

With a huge budget in tow, the singer treated herself to a gorgeous modern bohemian abode located in an affluent neighborhood last year. The property is a unique find and looks to be just the perfect place for Doja, who is known to be uninhibited and outlandish.

driveway to Doja Cat's house in Los Angeles, which she bought in 2021
Doja Cat’s house in Los Angeles, which she bought in 2021 for $2.2 million. Photo credit: MLS

Before she achieved success and became an influential pop star, Doja was known as Amala Ratna Zandile Dlamini, her birth name. She chose the stage name Doja Cat because of her “affinity for weed culture and love for cats”. 

She has an impressive voice, as well as an amazing stage presence. But, more than anything, her hilarious jokes and funny character are what made her a viral sensation.

Her rise to fame

The 26-year-old singer first broke into popularity through a short clip posted on YouTube back in 2018, which showed her singing a quirky song titled Mooo!

The novelty song became a hit, paving her way to launch a debut album that put her name in the mainstream.

Unlike other pop stars who tend to stick to a particular type of music, Doja stands out with her genre-bending sounds and character-inspired aesthetics. Her song Say So became a viral dance hit on TikTok and the popular platform elevated her fame to superstardom.

Doja’s rise to fame wasn’t uncomplicated, just like many other celebs in the spotlight. She also had to deal with a couple of controversies that almost cost her career. But, all was forgiven after her sincere apology, and pretty soon, she was back charting high on Billboard.

Her latest album Planet Her features A-list collaborations including The Weeknd and Ariana Grande, and debuted number two on the Billboard 200, cementing Doja’s top-tier popstar status.

Doja Cat’s house in Beverly Hills

With all the success shooting straight to her pockets, the singer was ready to plant roots in Los Angeles.

In 2021, Doja splurged $2.2 million on a Beverly Hills Post Office home that’s described as “the epitome of bohemian-chic”. It was originally listed for $2.8 million in 2018, but the singer was able to snatch it for much less.

Exterior of the house, the entrance from the backyard.
Exterior of the house, the entrance from the backyard. Photo credit: MLS

The property was originally built in the 1960s and has already undergone several renovations to modernize its midcentury style, although much of its original form and architecture was preserved.

The multilevel home offers 2,400 square feet of living space and has 4 bedrooms and 2 bathrooms. It is tucked away behind elm trees and lush foliage, with a long gated driveway, offering maximum privacy for the musician.

The property is situated in the mountains above Beverly Hills, making hiking trails a stone’s throw away, and providing her with access to the best Los Angeles has to offer.

Natural elements surround the property on all sides, making it a true bohemian getaway.

On the end of the driveway, the unique wooden garage door, which looks like a piece of art installation can be seen fronting the house. A few steps away, there is a concrete stairway that leads to the large two-door entrance of the main floor.

Inside the singer’s modern home with a touch of bohemian interiors

The bohemian theme continues inside, with more natural elements brought in from the outdoors — and are complemented by stunning modern finishes.

Wood paneling and concrete-style slate accents are incorporated in some of the rooms. Floor-to-ceiling windows line up the sides of the house, providing natural light to the open plan interiors. 

The huge living room sits on the center, accentuated with a dual-sided fireplace.

Living room inside Doja Cat's house in Los Angeles.
Inside Doja Cat’s house in Los Angeles. Photo credit: MLS
the living room and fireplace inside Doja Cat's house in Los Angeles.
Inside Doja Cat’s house in Los Angeles. Photo credit: MLS

The adjoining skylit kitchen offers a more contemporary vibe, with a unique curved island and an ultra clean white-and-grey palette.

Floor-to-ceiling windows wrap around the dining area, providing guests a great view of the outside.

modern kitchen inside Doja Cat's house in Los Angeles.
Inside Doja Cat’s house in Los Angeles. Photo credit: MLS

The master suite upstairs is a spacious respite for the singer, with natural wood paneling, a walk-in closet and an e-suite bathroom that looks like a small private Japanese spa with its slate bathtub, wood panels and open-air shower.

A small balcony rests outside the room, overlooking the outdoor and pool area below.

the bedroom in doja cat's house
Inside Doja Cat’s house in Los Angeles. Photo credit: MLS

There are also two large storage rooms downstairs, attached to the garage, as well as a bonus room space that can be transformed into an office or a music studio.

Outside the house, there are various sitting areas to entertain guests. The property has a steep slope, making its outdoor area a little more restricted. But, the layout was wisely designed to make the most of the space available.

Adjacent to the living room is the main attraction of the outdoor area — a swimming pool that features a unique shape. The curve and slope of the outdoors are perhaps a little odd but akin to Doja’s animated personality, making it a perfect fit for the singer.

The pool and backyard of Doja Cat's house.
The pool and backyard of Doja Cat’s house. Photo credit: MLS

More celebrity homes you might like

Where Will Rihanna Live After the Baby Comes? Her Beverly Hills Farmhouse is a Strong Contender
Post Malone’s $3 Million Utah Compound Doubles As a Doomsday Bunker
A Look Inside JoJo Siwa’s $3.5 Million Mediterranean-Style Mansion
Celeb Spotlight: Cardi B’s House in Atlanta is Pure Old-World Luxury

Source: fancypantshomes.com

Teen spending habits in 2022

teenage girl online shopping on floor of living room while holding credit cardteenage girl online shopping on floor of living room while holding credit card

The information provided on this website does not, and is not intended to, act as legal, financial or credit advice. See Lexington Law’s editorial disclosure for more information.

There are around 27.7 million teenagers living in the United States who spend an estimated $63 billion annually.

American teens are voracious consumers of digital media, and they do much of their shopping with online retailers. Meanwhile, marketing to teenagers means being aware of the influencers and causes they care most about. Survey data finds that teens today have varied interests, from social causes like environmentalism to musical icons like Taylor Swift, from online streaming services like Netflix to fast food behemoths like Chick-fil-A.

For anyone looking to better understand teenage consumers, it’s important to take a look at what teenagers buy, where they get their money and what their financial goals and worries are.

What do teenagers buy?

Though food has consistently dominated teenage spending habits for nearly a decade, clothing now reigns supreme as the biggest purchasing priority for teens. The popularity of athletic brands like Nike, Adidas and Lululemon highlights the trend toward casual clothing, perhaps spurred on by the remote school environment throughout the pandemic.

Food spending remains important for teenagers, however, and Chick-fil-A overtook Starbucks as the top restaurant for this age group. Starbucks’ drop could be attributed to its increasingly slower lines thanks to the introduction of mobile orders and the subsequent service slowdown.

The entertainment, media and video game industries have increased in popularity in the past year. The ongoing effects of the COVID-19 pandemic have led to many more teenagers spending a majority of their time at home. Therefore, their spending is more directed toward these industries rather than concerts and travel. Likewise, online shopping has generated more attraction than shopping in person.

Top brands for teenagers:

  • Clothing: Nike
  • Handbags: Michael Kors
  • Restaurant: Chick-fil-A
  • Shopping website: Amazon
  • Beauty: Ulta
  • Cosmetics: Maybelline
  • Social media: Snapchat
  • Streaming video: Netflix

Teens know what they like and spend their money accordingly. You can get a closer look at teenage buying preferences below.

  • 30 percent of teenagers prefer to shop at specialty stores, while only 10 percent prefer shopping at major chains. (Source: Taking Stock With Teens)
  • Male teenagers devote 14 percent of their spending to video games, while female teenagers only spend 2 percent on video games. (Source: Taking Stock With Teens)
  • After the onset of the pandemic, teenagers spent 50 percent less on concerts and sporting events in 2021 than they did in 2017. (Source: Taking Stock With Teens)
  • Regardless of income, teenagers spend 22 percent of their money on clothing in fall 2021. (Source: Taking Stock With Teens)
  • Teenagers spend only 1 percent of their funds on movies, but they spend more than $200 annually on video games. (Source: Taking Stock With Teens)
  • 52 percent of teens prefer Amazon as their top shopping website. (Source: Taking Stock With Teens)
  • Nearly half of all teens either already eat plant-based meats or are willing to try, and Impossible Burgers are the preferred brand. (Source: Taking Stock With Teens)
  • Over half of teens prefer healthy snacks, and nearly one-third of teenagers say they are eating more organic foods in 2021 compared to 2020. (Source: Taking Stock With Teens)
  • Only 33 percent of teens prefer full-service restaurants—down significantly from 57 percent in 2009. (Source: Taking Stock With Teens)
  • In addition to Amazon, teens do much of their online shopping with Nike, Urban Outfitters, SHEIN, Lululemon and PacSun. (Source: Taking Stock With Teens)
  • 82 percent of female teenagers say that online influencers help them discover brands and trends. (Source: Taking Stock With Teens)
  • Maybelline, e.l.f. and Tarte led the way for teenage beauty spending, but overall spending totaled just $75, a year-over-year decrease of 11 percent. (Source: Taking Stock With Teens)
  • Upper-income teens report that Under Armour, Adidas, Justice and Hollister are the most common brands they used to wear but no longer do. (Source: Taking Stock With Teens)
  • As of fall 2021, more than one-third of teenagers own a smartwatch, and 15 percent of teens plan to buy an Apple Watch. (Source: Taking Stock With Teens)
  • More than three-quarters of teenagers own an iPhone, and the same number of teens expect their next phone will also be an iPhone. (Source: Taking Stock With Teens)
  • 9 percent of teens have purchased cryptocurrency, and 78 percent of teen crypto buyers are male. (Source: Taking Stock With Teens)

Where do teenagers get their money?

Teenagers earn money through a mix of gifts, allowance and jobs. Although their spending power isn’t as high in comparison to other groups’, teens still hold a significant amount of spending power. Read on to see how employment trends have shaped teen spending.

  • Fewer than one-third of teenagers held a paying job in the summer of 2021, which is the lowest employment percentage since the Great Recession. (Source: Pew Research Center)
  • Nearly 2 million 16- to 19-year-olds lost their jobs at the start of the COVID-19 pandemic. (Source: Pew Research Center)
  • Overall, around 5.4 million teenagers were employed in the summer of 2021. (Source: Pew Research Center)
  • The most common industries for teenagers to work in are food services (35 percent) and retail (25 percent). (Source: Pew Research Center) 
  • 32 percent of teenagers receive allowances for doing chores. (Source: Junior Achievement
  • On average, teens have their first job at age 14. (Source: TD Ameritrade)
  • Teenage workers aged 16 to 19 have a median weekly income of $566. (Source: Bureau of Labor Statistics)
  • Students who are enrolled full time in college are less likely to enter the workforce than those who are studying part-time. (Source: Bureau of Labor Statistics)
  • The average allowance for children under age 18 is around $30 per week or $1,500 per year. (Source: AICPA)

Financial goals and concerns of teenagers

Even at a young age, teenagers are keen on financial goals and have high expectations for the future. Many believe that they’ll reach milestones like buying a home and paying off their student loans in their 30s. However, some financial concerns still linger for teens who grew up in the Great Recession and have seen their formative years defined by the COVID-19 pandemic.

  • 43 percent of teens believe they’ll pay off student loans by the time they turn 30. (Source: Junior Achievement)
  • 35 percent of teens think they’ll have $100,000 in savings by age 30. (Source: Junior Achievement)
  • 3 out of 5 teens believe they’ll own a home by age 30. (Source: Junior Achievement)
  • 8 out of 10 teenagers describe themselves as responsible with their money. (Source: FONA International)
  • 45 percent of teens are concerned about not being able to afford living on their own. (Source: Junior Achievement)
  • 47 percent of teens are concerned about paying for college. (Source: Junior Achievement)
  • 40 percent of teens are concerned about finding a fulfilling, well-paying job. (Source: Junior Achievement)

Teenage members of Generation Z are setting themselves up as a financially strong generation. Continued credit education is crucial for these teens as they get older and start building their credit. The decisions teens make at this age are important to watch as they mature into adulthood and make bigger financial decisions—in the meantime, it’s important that these teens practice good financial hygiene like regularly reading their credit reports and reviewing their bank statements for discrepancies.


Reviewed by Miriam Allred, Associate Attorney at Lexington Law Firm. Written by Lexington Law.

Miriam Allred was born and raised in Southern California. After high school she joined the US Navy. She then went on to get an Economics degree from Chapman University where she got to enjoy an internship at the United States Supreme Court. Miriam then went to Brigham Young University where she received her Juris Doctor. Prior to joining Lexington Law, Miriam worked as a civil rights attorney dealing with discrimination and sexual harassment. In this role she helped write and create policies and investigate sexual harassment and discrimination complaints. Miriam also has experience in family law. Miriam is licensed to practice in Utah.

Note: Articles have only been reviewed by the indicated attorney, not written by them. The information provided on this website does not, and is not intended to, act as legal, financial or credit advice; instead, it is for general informational purposes only. Use of, and access to, this website or any of the links or resources contained within the site do not create an attorney-client or fiduciary relationship between the reader, user, or browser and website owner, authors, reviewers, contributors, contributing firms, or their respective agents or employers.

Source: lexingtonlaw.com

Minimum Car Insurance Requirements by State

To legally drive in most states, you need to have car insurance, with the minimum amount determined by your state of residence. We should really refer to “car insurance minimum coverages,” in plural, because requirements can exist for liability insurance, property damage, medical expenses, uninsured/underinsured coverage, and personal injury protection, among other possibilities. This post will provide a general overview using the most current information available. Verify information for your particular state to make sure you have the appropriate requirements for car insurance.

Car Insurance Requirements By State

Take a look at Alabama’s requirements for car insurance: 25/50/25. This means that the state requires $25,000 of bodily injury liability insurance per person with $50,000 for all bodily injuries that take place within a single accident and $25,000 in property damage per accident. This is the general format we’ll use while adding other insurance information about a state when available and applicable.

State Requirements for Car Insurance Additional Requirements
Alabama 25/50/25
Alaska 50/100/25
Arizona 25/50/15
Arkansas 25/50/25
California 15/30/5
Colorado 25/50/15
Connecticut 25/50/25 The state also requires uninsured/underinsured motorist coverage of $25,000 per person and $50,000 per accident
Delaware 25/50/10 The state also requires personal injury protection (PIP)
Florida Property damage liability of $10,000 per accident and $10,000 PIP coverage
Georgia 25/50/25
Hawaii 20/40/10 and $10,000 PIP
Idaho 25/50/15
Illinois 25/50/20 Under state law, policies automatically include what’s required for uninsured motorist coverages
Indiana 25/50/25 This state also requires $50,000 in underinsured motorist coverage for bodily injuries
Iowa 20/40/15
Kansas 25/50/25 Along with uninsured/underinsured coverage ($25,000 per person/$50,000 per accident) and personal injury protection (PIP or no-fault)
Kentucky 25/50/25
Louisiana 15/30/25
Maine 50/100/25 Along with $50,000 uninsured coverage per person and $100,000 per accident, and $2,000 in medical payment coverage
Maryland 30/60/15
Massachusetts 20/40/5 and $8,000 PIP
Michigan 20/40/10
Minnesota 30/60/10 Along with $25,000 uninsured/underinsured coverage per person, $50,000 per accident, and $40,000 PIP
Mississippi 25/50/15
Missouri 25/50/25 Plus $25,000 uninsured coverage per person and $50,000 per accident
Montana 25/50/20
Nebraska 25/50/25 Plus $25,000 uninsured/underinsured coverage per person and $50,000 per accident
Nevada 25/50/20
New Jersey 15/30/5 Along with $15,000 PIP
New Mexico 25/50/10
New York 25/50/50 and $50,000 PIP
North Carolina 30/60/25 The state also has detailed specifics about required insurance coverage for uninsured/underinsured motorists
North Dakota 25/50/25
Ohio 25/50/25
Oklahoma 25/50/25
Oregon 25/50/20 Plus $25,000 uninsured coverage per person and $50,000 per accident, and $15,000 PIP
Pennsylvania 15/30/5 Plus $5,000 for medical payments
Rhode Island 25/50/25
South Carolina 25/50/25 Plus $25,000 uninsured coverage per person, $50,000 per accident, and $25,000 in property damage
South Dakota 25/50/25 Plus $25,000 uninsured coverage per person and $50,000 per accident
Tennessee 25/50/15
Texas 30/60/25
Utah 25/65/15
Vermont 25/50/10
Washington 25/50/10
Washington D.C. 25/50/10 $25,000 uninsured coverage per person, $50,000 per accident, and $5,000 property damage
West Virginia 25/50/25 Plus $25,000 uninsured coverage per person and $50,000 per accident, and $25,000 property damage
Wisconsin 25/50/10 Plus $25,000 uninsured coverage per person and $50,000 per accident

Which States Don’t Require Insurance?

You may notice that two states are not in this list: New Hampshire and Virginia. That’s because they don’t require car insurance, per se, although they do have laws on the subject.

In Virginia, if you don’t have car insurance, you pay a $500 fee, which is more than the average cost of liability insurance in the state.This fee does not, though, provide the driver with any coverage. So they are responsible for any damages they inflict when at fault in an accident and for compensation for any medical injuries and/or property damage.

In New Hampshire, there are no fees associated with not having car insurance but the at-fault driver is responsible for paying for any damages when they are at fault in an accident.

If a driver decides to buy car insurance in either state, then the car insurance minimum coverage in each is 20/50/25.

Recommended: How to Get Car insurance in 5 Simple Steps

Understanding Required Coverages

Here are definitions for key auto insurance terms connected to coverages:

•   At fault: A driver is “at fault” when an action they took or didn’t take caused the collision.

•   Liability insurance: This pays for the other driver’s/drivers’ car repairs (property damage) and medical bills (bodily injuries) if you’re at fault in an accident.

•   Uninsured and underinsured motorist coverage: This protects drivers and passengers alike if the other motorist has little or no car insurance. The bodily insurance portion covers medical costs while the property damage portion pays for vehicle repairs.

•   Personal injury protection: This helps to pay for accident-related medical expenses for the insured driver and the passengers, regardless of who is at fault.

Liability auto insurance may also cover loss of income, legal fees if a lawsuit occurs, and/or funeral costs. The property damage coverage can go beyond paying for vehicle repairs, also covering a fence, bicycle, shed, or building — as just four examples — that was damaged in an accident.

Exceptions to State Minimum Car Insurance Requirements

As already described, New Hampshire and Virginia take a different approach to car insurance requirements. As another approach, in the state of Kentucky, a driver can have 25/50/25 coverage or a policy with a $60,000 limit. In Maine, as another example, you can have the menu of coverages as described above or a $125,000 policy. Because each state is different, it’s best to verify what insurance is required by law where you live and what options exist.

In more than half of the states, a driver can decide to purchase a bond from the state instead of buying car insurance. Specifics vary by state (but none of the bond amounts are small) and these funds are used if you cause an accident. Any time that the state pays an injured party (from an accident where you are at fault), the money must immediately be reimbursed by you to the state along with interest. The bond is connected to the driver, not the vehicle, so it provides coverage to any vehicle driven by the bondholder.

Recommended: How Does Car Insurance Work?

Going Beyond Car Insurance Minimum Coverage

So far, this post is focusing on what insurance is required by law. But how much car insurance do you really need? That’s another question entirely.

For example, even when your state doesn’t require comprehensive coverage, if a vehicle is being financed or leased, the lender will likely require that you have this type of coverage. This covers physical damage to a vehicle that isn’t caused by an accident. This can include weather damage, theft or vandalism, hitting an animal, and other damages. Even if a vehicle is paid off, it often makes sense to include this coverage in your policy because the cost is small in comparison to what repair or replacement costs would be if the vehicle is damaged or stolen.

Collision coverage goes beyond accident-related damage and can cover costs if you run into a tree or building, hit a pothole, for example. If paying for damages out of pocket would be challenging or your risk tolerance is low, you might consider having this coverage.

Then there’s guaranteed auto protection (GAP) that can protect you as your vehicle’s value depreciates. If that car is totaled in an accident or stolen, then GAP would pay the difference between what you owe on it and its actual cash value. This allows you to pay off your loan or lease and then get any remainder from the insurer. Typically, you need full auto insurance in order to add the optional GAP.

Lowering Car Insurance

To lower your car insurance, here are tips to consider:

•   Get quotes. Using an online comparison tool can make your search especially efficient. The Insurance Information Institute recommends that you get at least three quotes. To check out the insurer’s financial health, you can use Standard & Poor’s, AM Best, or another rating service — and/or contact your state insurance department to see if there are any complaints about them.

•   Talk to your current insurance provider and ask them what discounts they can offer you. They may give you a better premium to keep your business.

•   See which discounts you may qualify for: a good driving record, a vehicle with anti-theft features, carpooling/remote working, going paperless with statements, or other strategies.

•   Find out how much you can save if you bundle other insurances with your car insurance. This can be homeowners or renters insurance, for example, or perhaps you can combine car insurance policies for multiple vehicles.

•   Consider a higher deductible, which is the out-of-pocket amount you’d have to pay before your insurance kicks in to pay a claim. This can lower your premium significantly, but if you have an accident, you may need to use your personal savings before the insurer pays your claim.

•   Reevaluate coverage needs. If your car is older, you may not need all of the coverages you once did. That said, you’ll want to balance what you can save today on premiums with what might happen tomorrow if an accident or other covered event occurs. You’ll need to keep state minimum car insurance in mind, of course.

The Takeaway

Most states have minimum requirements for car insurance (and when they don’t, they still have coverage parameters that must be met). This post shares insight into the types of coverages as well as the amounts that each state requires. To find the right insurance policy for your needs, you can compare multiple car insurance rates from top insurers and see quotes in just a matter of minutes.

Photo credit: iStock/Weekend Images Inc.


Insurance not available in all states.
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SoFi is compensated by Gabi for each customer who completes an application through the SoFi-Gabi partnership.

Third Party Brand Mentions: No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third party trademarks referenced herein are property of their respective owners.
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.
This article is not intended to be legal advice. Please consult an attorney for advice.
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Source: sofi.com

Survey: Could universal basic income end financial stress?

The information provided on this website does not, and is not intended to, act as legal, financial or credit advice. See Lexington Law’s editorial disclosure for more information.

Financial stress has always affected people, but the economic effects of the COVID-19 pandemic have significantly increased worries about money, according to Pew Research Center.

The American Psychological Association reports that almost two-thirds of American adults view their finances as a major stressor. For households making less than $50,000 annually, nearly 3 out of 4 American families are experiencing significant financial stress. While the specifics of these fears vary—including housing, healthcare and childcare costs—it’s obvious that concerns about money are a driving force in the lives of millions of Americans.

One proposed solution is universal basic income (UBI), which would provide all Americans with a fixed monthly stipend to help defray rising costs and stimulate the economy. Proponents of UBI suggest that a small stipend could increase employment, entrepreneurship and equity among different racial groups and genders. On the other hand, some studies have argued that the cost of UBI would be astronomical and could potentially lead to an increased poverty rate over time.

Within the past few years, some states and cities have been piloting universal basic income programs. For example, in California, a UBI program provides $1,000 each month to around 3,000 families in Los Angeles. There are similar programs being tested in Washington, Alaska, Virginia, South Carolina and New York.

We conducted a survey of more than 1,500 Americans to determine how financial stress affects them as well as whether UBI could potentially remedy this problem.

Here are our key findings:

  • More than half of all respondents would feel financially stable with an additional $1,000 each month.
  • More than 1 in 5 respondents say their health suffers due to financial difficulties.
  • Financial stress is most often related to retirement, credit cards, student loans and housing payments.

Read on to learn more about all of our findings.

More than half of respondents would feel financially stable with an additional $1,000 each month

Eliminating financial stress may seem to be an impossible task, but most respondents only want a modest increase in their monthly income to achieve financial stability.

According to our survey, over 60 percent of respondents report that $1,000 each month would decrease their financial stress. Nearly half of respondents say that $500 or less each month would provide financial stability. And finally, 20 percent of respondents noted their financial situation would be more stable with a monthly influx of $250—an amount that Jeff Bezos makes on average every one-tenth of a second.

Including Medicare and Social Security, the United States spends around $3.3 trillion on welfare programs each year. With around 330 million Americans living today, that means total U.S. welfare spending per capita is around $10,000. Supporters of UBI argue that a simplified welfare system that simply provided cash deposits for all Americans would reduce administrative costs and increase financial stability.

While the effects of implementing UBI cannot be perfectly predicted, our survey does suggest that the U.S. welfare budget likely has enough money to satisfy the financial needs of many Americans by providing modest monthly stipends. Considering that 43 percent of respondents desire $500 or less for financial stability, per capita spending of $6,000 annually ($500 per person per month) could play a huge role in reducing financial stress.

More than 20 percent of respondents say their health suffers due to financial difficulties

Financial stress has a profound impact on the lives of many Americans. In fact, 48 percent of our survey respondents identify health and family life as being affected the most.

Notably, financial concerns seem to be a nearly universal concern: just 3 percent of survey respondents reported that financial difficulties did not affect their lives at all.

Most prominently, respondents find that their leisure (37 percent), family life (27 percent) and health (21 percent) are negatively influenced by financial troubles. All of these struggles are mirrored in trends reflecting the economic difficulties of Americans.

For example, data from the Bureau of Labor Statistics (BLS) reveals that just 4.7 percent of average American household expenditures go to entertainment—a percentage that has decreased each year since 2017. During that time span, increased costs for food, housing, healthcare and transportation have left an ever smaller amount of money for recreation.

Meanwhile, the average American spends nearly half of their waking hours alone, according to the BLS Time Use Survey. American adults between the ages of 22 and 65 spend more of their time with coworkers than family members—the average 40-year-old, for example, spends three times as much of their day with colleagues than family. Inflation-adjusted wages have remained stagnant for decades, according to the Pew Research Center, making it even harder for people to get on top of their debt and sufficiently make ends meet.

The effect of financial strain on health is evident after a closer look at how quickly healthcare costs are rising relative to income. Currently, Americans spend almost $500 billion collectively on out-of-pocket medical expenses each year—or roughly $1,650 for each individual.

As a result, more than half of Americans report delaying or skipping medical care due to cost. Despite high costs and massive medical spending, the U.S. still lags behind peer countries in outcomes: Americans have lower life expectancy, higher rates of hospitalizations from preventable illness and the largest burden of chronic disease.

Respondents worry most about retirement, credit cards and student loan debt

While financial difficulties can arise in a number of ways, most respondents are stressed by retirement, credit cards, student loans and mortgages.

When we surveyed Americans about the most stressful aspect of their finances, the top answers were pretty evenly split among four categories: retirement (24 percent), credit cards (20 percent), student loans (20 percent) and mortgage (17 percent). Together, these four areas represent the most stressful areas of finance for 4 in 5 Americans.

While the average age of retirement is increasing, our collective preparedness is often lacking. A survey looking at retirement readiness indicates that more than half of older Americans have saved less than $50,000 for retirement. However, this same group of survey respondents believed that their post-retirement income would be more than $55,000. It’s no wonder that retirement looms large and causes stress as many struggle to save enough to make ends meet after their employment years end.

Credit cards are useful financial tools, but they can be a significant source of stress as well. The average American carries a credit card balance of more than $5,000, while the total amount of credit card debt shared among all Americans is $800 billion. Of those who have credit card debt, around 8 percent are more than 90 days delinquent in making payments.

Student loan debt has been a topic of fierce debate in recent years, as the total amount of education-related debt has soared to $1.5 trillion—an increase of more than 60 percent in just over a decade. Among people with student loan debt, the average owed is nearly $40,000, an amount that can be crushing when combined with debt from other sources.

As the United States looks to climb out of the economic conditions brought on by the coronavirus pandemic, finding ways to ease Americans’ stress related to their finances may be crucial for a successful recovery.

Where to find help with financial stress

While universal basic income continues to be discussed as an option by politicians, there are ways that consumers can start tackling financial stress now.

Here’s some information that could help you get started with areas of your finances that create worry:

Even with average credit scores on the rise, many Americans have still found that credit usage has caused them major strain over the past few years. Lower credit scores can make it more difficult to get a mortgage or car loan, and your score could be affected by incorrect negative items on your credit report.

Lexington Law Firm offers credit repair services, which could help you with your credit by disputing inaccurate information on your credit report. If your credit is causing you financial stress, reach out to our credit repair professionals for support.

Methodology

This survey was conducted for Lexington Law Firm using Google Consumer Surveys. The sample consisted of a minimum of 1,500 responses per question. Post-stratification weighting was used to ensure that the general population is represented accurately by the results of this survey, which was conducted in November 2021.


Reviewed by Peter Richins, Associate Attorney at Lexington Law Firm. Written by Lexington Law.

Peter Richins was born and raised in Davis County, Utah. Mr. Richins attended law school at the University of Idaho in Moscow, Idaho. He graduated with a Juris Doctorate degree from Idaho with an emphasis in business law and entrepreneurship. Since becoming a member of the Utah Bar after graduation, Mr. Richins’ legal work has largely focused on bankruptcy practice. He worked in a corporate bankruptcy and compliance office considering bankruptcy from the Creditor’s perspective, and then transitioned into Debtor representation while working as an associate attorney with the law firm LeBaron & Jensen in Layton, Utah. Mr. Richins also established himself in private practice as a bankruptcy attorney, filing Chapter 7 and Chapter 13 petitions for individuals and families. As an attorney with Lexington Law, Mr. Richins continues his bankruptcy practice and enjoys working on behalf of clients who need a fair and accurate credit score. Mr. Richins is licensed to practice law in Utah. He is located in the Utah office.

Note: Articles have only been reviewed by the indicated attorney, not written by them. The information provided on this website does not, and is not intended to, act as legal, financial or credit advice; instead, it is for general informational purposes only. Use of, and access to, this website or any of the links or resources contained within the site do not create an attorney-client or fiduciary relationship between the reader, user, or browser and website owner, authors, reviewers, contributors, contributing firms, or their respective agents or employers.

Source: lexingtonlaw.com