How to Copy Warren Buffet’s Biggest Investment of 2020

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Warren Buffett is notoriously a good investor. Sure, he’s made some mistakes along the way (who hasn’t?), but whatever move he makes, you can bet he’s thought it through, and it will pay off — big time.

Which is why when Mr. Buffett made his biggest stock purchase of the year into Apple, we thought, “Isn’t it too late to do that?” Apple is already trading at the highest price it ever has. It feels out of reach for us non-billionaires.

But it turns out, that’s not the case. While we don’t have the ability to own $111 billion (yes, billion with a B) in AAPL shares, we can still get our hands on some — and reap the rewards as the market goes up.

One of our favorite ways to get into the stock market and be a part of infamous big-tech returns, without risking billions is through a free app called Stash.

It lets you be a part of something that’s normally exclusive to the richest of the rich — on Stash you can buy pieces of other companies — including Buffett’s choices — for as little as $1.

That’s right — you can invest in pieces of well-known companies, such as Amazon, Google, Apple and more for as little as $1. The best part? If these companies profit, so can you. Some companies even send you a check every quarter for your share of the profits, called dividends.1

It takes two minutes to sign up, and it’s totally secure. With Stash, all your investments are protected by the Securities Investor Protection Corporation (SIPC) — that’s industry talk for, “Your money’s safe.”2

Plus, when you use the link above, Stash will give you a $5 sign-up bonus once you deposit $5 into your account.*

Kari Faber is a staff writer at The Penny Hoarder.

1Not all stocks pay out dividends, and there is no guarantee that dividends will be paid each year.

2To note, SIPC coverage does not insure against the potential loss of market value.

For Securities priced over $1,000, purchase of fractional shares starts at $0.05.

*Offer is subject to Promotion Terms and Conditions. To be eligible to participate in this Promotion and receive the bonus, you must successfully open an individual brokerage account in good standing, link a funding account to your Invest account AND deposit $5.00 into your Invest account.

The Penny Hoarder is a Paid Affiliate/partner of Stash. 

Investment advisory services offered by Stash Investments LLC, an SEC registered investment adviser. This material has been distributed for informational and educational purposes only, and is not intended as investment, legal, accounting, or tax advice. Investing involves risk. 

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

Source: thepennyhoarder.com

Seven things college freshmen don’t need — and ten they do

This article originally appeared on NerdWalletThose ubiquitous checklists of “dorm room essentials” for college freshmen are filled with items that will be ditched by the end of first semester.

Some parents “go to the store and grab a list like they did when their kids were in elementary and high school and just go straight down the list,” says Lisa Heffernan, mother of three sons and a college-shopping veteran. Or they buy things they only wish their students will use (looking at you, cleaning products).

You can safely skip about 70% of things on those lists, estimates Asha Dornfest, the author of Parent Hacks and mother of a rising college sophomore who’s home for the summer.

What Not to Buy or Bring

Freshmen really need just two things, says Heffernan, co-founder of the blog Grown and Flown: a good mattress topper and a laptop.

Here are seven items you can skip:

  • Printer. Don’t waste desk space or, worse, store it under the bed; printers are plentiful on campus.
  • TV. Students may watch on laptops or on TVs in common areas or in someone else’s room. Bonus: Your teen gets out and meets others.
  • Speakers. Small spaces don’t require powerful speakers; earphones may be a good idea and respectful of roommates.
  • Car. Some colleges bar freshmen from having cars on campus or limit their parking. You also may save on insurance by keeping the car at home.
  • Luggage. If you bring it, you must store it. Heffernan suggests collapsible blue Ikea storage bags with zippers.
  • Toiletries to last until May. Bulk buying may save money, but you need storage space.
  • Duplicates of anything provided by the college, such as a lamp, wastebasket, desk chair or dresser.

Items left behind when students pack for the summer are telling. Luke Jones, director of housing and residence life at Boise State University, sees unopened food — a lot of ramen and candy — and stuffed animals and mirrors.

Jones says many students regret bringing high school T-shirts and memorabilia and some of their clothes (dorm closets typically are tiny).

What Can You Buy, Then?

Before you shop, find out what the college forbids (candles, space heaters, electric blankets and halogen lights are common). Have your student check with assigned roommates about appliances (who’s bringing a fridge or microwave?) and color scheme if they want to set one. Know the dimensions of the room and the size of the bed. And most of all, know your budget. Not everything has to be brand new.

Ten things — besides the all-important mattress topper and laptop — that many students consider dorm room essentials include:

  • One or two fitted sheets in the correct bed size, plus pillowcases. Heffernan says most students don’t use top sheets.
  • Comforter or duvet with washable cover.
  • Towels in a distinctive pattern or light enough for labeling with laundry marker, plus shower sandals.
  • Power cord with surge protector and USB ports.
  • Basic first aid kit.
  • Easy-to-use storage. If it’s a lot of work to get something out, your student won’t, Heffernan says.
  • Cleaning wipes. Students might not touch products that require multiple steps, but they might use wipes, according to Heffernan.
  • Reading pillow with back support for studying in bed.
  • Area rug. Floors are often hard and cold.
  • Comfort items. Dornfest says it could be a blanket or a picture of the dog — something from home that will make the space a bit more personal.

Afraid you’ll forget something important? You might, Heffernan says. But chances are, you or your student can order it online and get it delivered. Consider doing this with some items simply to avoid the hassle of bringing them yourself, and remember that “dorm necessities” often go on sale once school starts.

Do a Reality Check

If you or your student still want to replicate the rooms you’ve seen on Instagram and Pinterest, think about how the room will actually be used.

Once your son or daughter moves in, the room will never look like that again. Opt for sturdy items and be realistic. Will throw pillows make the place look more homey and inviting, or will they be tossed on the floor until parents’ weekend?

Dornfest, a co-host of the Edit Your Life podcast, offers a compelling reason not to make things too comfortable. “A freshman needs to be encouraged to get out of the dorm room,” she says. “Anything that pulls you into campus life can be good.”

She’s not advocating a monk-like environment, but rather one that encourages breaking out of routines. College should be a time to try new things and meet people from different backgrounds. Dornfest advises making the bed as comfortable as possible and keeping a few reminders of home. The ideal dorm room is more launch pad than cocoon.

More from Nerdwallet

  • Budgeting for College Students
  • How to Build Credit at 18
  • How to Choose a Student Credit Card

The article 7 Things College Freshmen Don’t Need — and 10 They Do originally appeared on NerdWallet.

Source: getrichslowly.org

The Top Financial Resolutions for 2021

Stumped on resolutions? These are the top financial to-do’s for 2021.

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

Source: thepennyhoarder.com

Chipotle to Hold Nationwide Hiring Event to Fill 15K New Jobs

Chipotle is kicking off the new year with a nationwide hiring blitz.

With hundreds of new restaurants in the works, the fast-casual Mexican food chain plans to fill 15,000 new openings, according to the hiring announcement.

To make headway on those recruitment efforts, all Chipotle locations are holding a “Coast to Coast” career event Jan. 14. On-site interviews are taking place from 8 a.m. to 10 a.m. and 2 p.m. to 5 p.m. local time.

As a safety precaution, outdoor and curbside interview accommodations are available.

“Please bring a mask and follow all safety protocols while you’re in the restaurant,” the company said.

Pro Tip

To participate in the hiring event, you must fill out a brief application and select an available interview time slot at your local Chipotle. Do not show up without requesting an interview.

Compared to the overall restaurant industry, Chipotle has fared well throughout the pandemic. The company hired 10,000 new workers in July as it added new locations and built drive-thru windows at many existing locations. In November, Chipotle unveiled its first ever “digital” restaurant in New York to experiment with only providing drive-thru and pick-up orders.

Job Openings at Chipotle

Chipotle’s recruitment spree is focused on hiring new restaurant team members, which primarily consist of line cooks, food preppers, and cashiers. These positions are entry level.

According to job listings on the company’s career board, the main crew-member requirement is that you must be at least 16 years old to apply. All training is provided.

Chipotle doesn’t have a company-wide minimum wage. On average, crew members earn about $10 to $11 an hour (or local minimum wage if higher) according to thousands of self-reported wages on Glassdoor.

To entice new workers, the burrito chain has been experimenting with new perks and benefits available to all employees, part- and full-time:

  • Medical, dental and vision insurance.
  • 401(k) retirement plan after one year of employment.
  • One free meal per shift.
  • 100% tuition coverage for select degrees and universities through a partnership with Guild Education.
  • Tuition reimbursement of up to $5,250 for schools and degrees outside that partnership.
  • Paid time off including parental leave.
  • English as a second language training.

If Chipotle meets its hiring goals, the company’s workforce is set to exceed 100,000.

Check out these other employers that offer health insurance and cover college costs for part-time employees.

Adam Hardy is a staff writer at The Penny Hoarder. He covers the gig economy, remote work and other unique ways to make money. Read his ​latest articles here, or say hi on Twitter @hardyjournalism.

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

Source: thepennyhoarder.com

Things Break. How to Make Sure Your Emergency Fund Can Cover Them

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Your washing machine. Your car. Your front tooth.

If any of those broke right now, would you be able to get it fixed immediately? Or would you have to walk around with a gap in your smile for months until you could get the money together?

If you can’t afford to pay to fix it today, you’re not alone. Most people don’t have $400 saved in case of an emergency either. So before your car breaks down on the side of the road on your way to an interview, make sure you have a solid emergency fund of at least $500.

Don’t know how to get there? Having a budget (that you actually stick to) can help you get there. Here’s one budgeting strategy we recommend, and four other tips that can help you keep your expenses in line.

1. The 50/30/20 Budgeting Rule

The 50/30/20 rule is one of the simplest budgeting methods out there, which is why you’ve probably heard us talk about it before if you’re a regular TPH reader. There are no fancy spreadsheets or pricy apps to download (unless you want to), and it’s very straightforward.

Here’s how it shakes out: 50% of your monthly take home income goes to your essentials — your rent, your groceries, your minimum debt payments, and other necessities. 30% of your cash goes to the fun stuff, and 20% is dedicated to your financial goals. That could be paying more than the minimum on your debts or adding to your investments. And it definitely includes building up your emergency fund!

If you take a look at your budget and realized you don’t have enough leftover to contribute to your emergency fund, here are a few ways to help balance your budget:

2. Cut More Than $500 From One Of Your Must-Have Bills

You’re probably overpaying the bills you have to pay each month. But you can cut those expenses down, without sacrificing anything. Maybe even enough to cover that window your kid just smashed with a ball. Definitely enough to grow your emergency fund a meaningful amount.

So, when’s the last time you checked car insurance prices?

You should shop your options every six months or so — it could save you some serious money. Let’s be real, though. It’s probably not the first thing you think about when you wake up. But it doesn’t have to be.

A website called Insure.com makes it super easy to compare car insurance prices. All you have to do is enter your ZIP code and your age, and it’ll show you your options.

Using Insure.com, people have saved an average of $540 a year.

Yup. That could be $500 back in your pocket just for taking a few minutes to look at your options.

3. Earn Up to $225 in Easy, Extra Cash

If we told you you could get free money just for watching videos on your computer, you’d probably laugh. It’s too good to be true, right? But we’re serious. You can really add up to a few hundred bucks to your emergency savings with some mindless entertainment.

A website called InboxDollars will pay you to watch short video clips online. One minute you might watch someone bake brownies and the next you might get the latest updates on Kardashian drama.

All you have to do is choose which videos you want to watch and answer a few quick questions about them afterward. Brands pay InboxDollars to get these videos in front of viewers, and it passes a cut onto you.

InboxDollars won’t make you rich, but it’s possible to get up to $225 per month watching these videos. It’s already paid its users more than $56 million.

It takes about one minute to sign up, and you’ll immediately earn a $5 bonus to get you started.

4. Ask This Website to Pay Your Credit Card Bill This Month

Just by paying the minimum amount on your credit cards, you are extending the life of your debt exponentially — not to mention the hundreds (or thousands) of dollars you’re wasting on interest payments. You could be using that money to beef up your emergency savings, instead.

The truth is, your credit card company is happy to let you pay just the minimum every month. It’s getting rich by ripping you off with high interest rates — some up to nearly 30%. But a website called AmOne wants to help.

If you owe your credit card companies $50,000 or less, AmOne will match you with a low-interest loan you can use to pay off every single one of your balances.

The benefit? You’ll be left with one bill to pay each month. And because personal loans have lower interest rates (AmOne rates start at 3.49% APR), you’ll get out of debt that much faster. Plus: No credit card payment this month.

AmOne keeps your information confidential and secure, which is probably why after 20 years in business, it still has an A+ rating with the Better Business Bureau.

It takes two minutes to see if you qualify for up to $50,000 online. You do need to give AmOne a real phone number in order to qualify, but don’t worry — they won’t spam you with phone calls.

5. Get a Side Gig And Make More Money

Let’s face it — if your monthly income is less than what your monthly expenses are (and you’ve run out of things to cut), you need more money.

Well, we all could use more money. And by earning a little bit extra each month, we could make sure we’re never taken by surprise when an ER visit tries to drain our savings.

Luckily, earning money has never been easier with the rise of the “Gig Economy”. Here are 31 simple ways to make money online. Which one could you do to pad your emergency savings?

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

Source: thepennyhoarder.com

15-Year vs. 30-Year Mortgages: Which is Better?

Once you decide to become a homeowner, it’s likely that you will need to take out a mortgage to purchase your new home. While the conclusion that you need a mortgage to finance your home is usually easy to arrive at, deciding which one is right for you can be overwhelming. One of the many decisions a prospective homebuyer must make is choosing between a 15-year versus 30-year mortgage.

From the names alone, it’s hard to tell which one is the better option. Under ideal circumstances, a 15-year mortgage mathematically makes sense as the better option. However, the path to homeownership is often far from ideal (and who are we kidding, under ideal circumstances we’d all have large sums of money to purchase a house in cash). So the better question for homebuyers to ask is which one is best for you?

To help you make the most informed financial decisions, we detail the differences between the 15-year and 30-year mortgage, the pros and cons of each, and options for which one is better based on your financial priorities.

The Difference Between 15-Year Vs. 30-Year Mortgages

The main difference between a 15-year and 30-year mortgage is the amount of time in which you promise to repay your loan, also known as the loan term.

The loan term of a mortgage has the ability to affect other aspects of your mortgage like interest rates and monthly payments. Loan terms come in a variety of lengths such as 10, 15, 20, and 30 years, but we’re discussing the two most common options here.

The Difference Between 15-Year Vs. 30-Year Mortgages

What Is a 15-Year Mortgage?

A 15-year mortgage is a mortgage that’s meant to be paid in 15 years. This shorter loan term means that amortization, otherwise known as the gradual repayment of your loan, happens more quickly than other loan terms.

What Is a 30-Year Mortgage?

On the other hand, a 30-year mortgage is repaid in 30 years. This longer loan term means that amortization happens more slowly.

Pros and Cons of a 15-Year Mortgage

The shorter loan term of a 15-year mortgage means more money saved over time, but sacrifices affordability with higher monthly payments.

Pros

  • Lower interest rates (often by a full percentage point!)
  • Less money paid in interest over time

Cons

  • Higher monthly payments
  • Less affordability and flexibility

Pros and Cons of a 30-Year Mortgage

As the mortgage term chosen by the majority of American homebuyers, the longer 30-year loan term has the advantage of affordable monthly payments, but comes at the cost of more money paid over time in interest.

Pros

  • Lower monthly payments
  • More affordable and flexible

Cons

  • Higher interest rates
  • More money paid in interest over time

15-Year Mortgage

30-Year Mortgage

Pros

• Lower interest rates
• Less money paid in interest over time
• Lower monthly payments
• More affordable and flexible

Cons

• Higher monthly payments
• Less affordability and flexibility
• Higher interest rates
• More money paid in interest over time

Which Is Better For You?

Now with what you know about the pros and cons of each loan term, use that knowledge to match your financial priorities with the mortgage that is best for you.

Best to Save Money Over Time: 15-Year Mortgage

The 15-year mortgage may be best for those who wish to spend less on interest, have a generous income, and also have a reliable amount in savings. With a 15-year mortgage, your income would need to be enough to cover higher monthly mortgage payments among other living expenses, and ample savings are important to serve as a buffer in case of emergency.

Best for Monthly Affordability: 30-Year Mortgage

A 30-year mortgage may be best if you’re seeking stable and affordable monthly payments or wish for more flexibility in saving and spending your money over time. The longer loan term may also be the better option if you plan on purchasing property you couldn’t normally afford to repay in just 15 years.

Best of Both: 30-Year Mortgage with Extra Payments

Want the best of both worlds? A good option to save on interest and have affordable monthly payments is to opt for a 30-year mortgage but make extra payments. You can still have the goal of paying off your mortgage in 15 or 20 years time on a 30-year mortgage, but this option can be more forgiving if life happens and you don’t meet that goal. Before going this route, make sure to ask your lender about any prepayment penalties that may make interest savings from early payments obsolete.

Best of Both- 30-Year Mortgage with Extra Payments

As a prospective homebuyer, it’s important that you set yourself up for financial success. Fine-tuning your personal budget and diligently saving and paying off debt help prepare you to take the next steps toward buying a new home. Doing your research and learning about mortgages also helps you make decisions in your best interest.

When picking a mortgage, always keep in mind what is financially realistic for you. If that means forgoing better savings on interest in the name of affordability, then remember that path still leads to homeownership. Try out these budget templates for your home or monthly expenses to help keep you on a good path to achieving your goals.

Sources: Consumer Financial Protection Bureau

The post 15-Year vs. 30-Year Mortgages: Which is Better? appeared first on MintLife Blog.

Source: mint.intuit.com

RVing on a Budget: The Biggest Costs and How to Save

What you may know about RVing: It’s a great, cheap way to travel, or even a low-cost alternative for living full time.

What you may not know: RVing costs can stack up, and even eclipse the cost of traditional car-and-hotel travel, or living in a sticks-and-bricks home.

Here, we’ll detail the primary expenses associated with the RV lifestyle, with tips to help you reduce them.

How to Go RVing on a Budget

As someone who’s traveled extensively by RV, and even lived in a travel trailer, I know exactly how much of a burden RVing can be on your budget. Here’s what I’ve learned.

The Vehicle Itself

The first thing you need to go RVing … is an RV. And depending on how you source it, this first purchase can be very pricy.

First-timers are more likely to rent than buy, but if you end up falling in love with the lifestyle, you should know that even modest motorhomes cost tens of thousands of dollars. Super luxurious ones go for over $1 million. (Yes, seriously.)

Travel trailers tend to be less expensive than motorcoaches for a comparable level of quality, from entry level all the way up to the top. Keep in mind, though, that you need a vehicle capable of towing the rig around.

A young man sweeps out an RV

But let’s go back to the rental option. Expect to see per-night prices of $250 or more, which can easily outstrip a moderately priced hotel room. Additional fees for mileage and insurance can push your bottom line even higher.

Consider looking at peer-to-peer RV rental marketplaces, like RVshare or Outdoorsy, where you can rent a rig directly from its private owner, which often means lower rental prices. (Think of it like Airbnb for RVs.)

You may also be able to find super-cheap rentals through RV relocation deals, in which you serve as a rental company’s courier, delivering RVs to destinations where they are in demand. In return, you get use of the rig for a steal — but keep in mind you’ll be limited in your ability to personalize your itinerary. You’ll have to stick to the company’s route and timetable.

As far as buying is concerned, shop around — and consider shopping gently used. RV does stand for recreational vehicle, after all, and although the loan you take out might look more like a mortgage than auto financing, you probably aren’t going to be building equity. You don’t want to go too old, because maintenance starts to become a problem, but something three to five years old could save you a nice chunk of change.

A motorhome travels through Arches National Park, Utah.

Fuel

The appeal of RVs is simple: You get to bring everything along with you for the trip, including the kitchen sink.

But all of those accommodations and extras are weighty, which means that all but the smallest RVs are pretty serious gas guzzlers. Case in point: The largest Class A motorhomes get as little as 4-6 miles to the gallon.

If you’re hoping to save at the pump, consider taking a vacation closer to home or narrowing down to a single destination. Not only will you spend less money on gas, you’ll also spend less of your time driving.

Campsite Accommodation Costs

Many people think you can load up into an RV, hit the road and just pull off to the side when you’re ready to catch some sleep.

But in most cases, that’s not true. Although some rest stops and big box store parking lots allow overnight RV parking, many do not. Besides, do you really want to spend your vacation sleeping under the glare of 24/7 floodlights?

The most comfortable campgrounds — the ones where you can hook up to electricity, water, and sewer connections — can cost a pretty penny, especially in highly sought-after destinations. Malibu Beach may be an extreme example, but during peak seasons, you’re looking at about $100 per night for a basic site, and up to $230 for a premium location. (Remember, that’s on top of your rental price. And fuel.)

A woman makes coffee in her travel trailer.

But you can find resort-style accommodations for $35 to $50 per night, often with discounts available for veterans, military members or those staying a week or longer. There are also a variety of camping discount clubs that can help you score lower-cost campground accommodations.

You’ll also want to look into state parks, which often offer RV sites with hookups for prices much lower than privately owned campgrounds (though they may not have a cell signal).

Finally, there are places you can camp for free (or super cheap), but even in an RV, you’ll kind of be roughing it. On BLM-managed land and in certain other wilderness locations, you can do “dispersed” camping, otherwise known as “boondocking” or “dry camping” — basically, camping without any hookups.

But you need to check ahead of time to make sure that cool-looking space is actually okay to park in and not privately owned. There isn’t always appropriate signage, and if you accidentally end up in someone’s backyard, you may be asked to move or even ticketed. Some great resources for finding spots include Campendium and FreeCampsites.net.

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Maintenance and Storage

If you buy an RV, you should be prepared for costs associated with maintenance — and, if you can’t park it on your own property, storage. In Portland, Oregon, I pay $75 a month to keep my travel trailer in an uncovered lot. More desirable, secure storage is almost $200.

Then there are the maintenance costs of both the vehicular and household systems of an RV, which need regular upkeep. Doing it yourself may be time intensive, but even a minor trip to the repair shop can mean a major bill.

It’s best if you already have a place in mind to keep it — and the initiative to learn some DIY mechanics. There’s a YouTube tutorial for most RV repair and maintenance basics.

Overall, the great thing about RVing is that the expenses are easily modified to fit almost any budget — you may just have to rethink which RV you drive, where you’re going and how you’ll be staying once you get there.

Jamie Cattanach’s work has been featured at Fodor’s, Yahoo, SELF, The Huffington Post, The Motley Fool and other outlets. Learn more at www.jamiecattanach.com.

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

Source: thepennyhoarder.com

How to Save Money for an Apartment

Whether you’re hoping to move out of your dorm, upgrade your current space, or finally live roommate-free for the first time—the financial logistics of renting an apartment can be overwhelming. The good news is, you probably can afford an apartment as long as you know how to save. When you budget efficiently, the cost of […]

The post How to Save Money for an Apartment appeared first on Apartment Life.

Source: blog.apartmentsearch.com