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How to Teach Your Teen to Budget Like a Pro

By in Careers, Student Finances Tag , , , , , , , , , , , , , , , , , , , , , ,

It amazes us how quickly our girls are growing up. Next month when school starts up again, we’ll have a fourth-grader and a kindergartener.

Even though we have some time before they are ready to move out of the house, we want to spend time now prepare them for the big transition. As a parent, you probably feel the same way too. 

One crucial piece of a financial foundation kids and in particular, teens, need to master is learning to budget (and sticking with it),

While they’re home now, you have a fantastic opportunity to get them comfortable with handling their money.

If you’re not sure where to start, here are some tips from fellow parents and experts in the personal finance space to make teaching this life skill a bit easier less stressful for you and your teen!

Teach Your Teen to Budget for Real Life

Teens or not, whenever most people hear the word budget, they also hear the word ‘no’. To them, budgets feel like a strict diet. Just as fad diets fail, an unrealistic or extreme budget will more than likely discourage your teen and they will quit.

The first step before you even talk about the numbers is to discuss exactly what a successful and sustainable budget should be. When done right, a budget is something that helps you move your money towards your goals. Explain to them that at its root, budget is simply a plan about what they’d like to do.

You want a budget that can cover:

  •     Essential bills
  •     Future goals
  •     Discretionary expenses

When your teen’s budget covers those goals, they’re not only putting their finances in a good spot, but they’re moving closer to their specific long term dreams.

Creating a Doable Budget (They’ll Actually Enjoy!)

Once your teen(s) understands how a budget works, it’s important for them to create a budget that they can use in the real world. You can honestly budget however you want, but an easy budget to get your teen started is the 50/20/30.

Quite simplify, the 50/20/30 budget puts money into those three main buckets:

  •     50%  goes towards essentials
  •     20% towards savings (or investing)
  •     30% for fun and discretionary expenses

I appreciate how easy and flexible this budget can be. You can adjust the percentages for your teen’s needs, but it gives them some ballpark idea of how to portion their finances when they are out on their own.

How do you start them out on this budget?

With teens, you may have expenses like clothing or their cellphone bill count as essentials, or you may want to give your child the experience of being responsible for a small, shared family bill while they are still at home.

For older teens, you could even charge them a nominal ‘rent’ to offset their portion of the bills. In some cases, parents give that money back to their child as a gift to help with moving expenses (like for their security deposit) or use as additional savings. 

However you decide, talk it over so your teen understands why you’re doing it this way.

Share Your Family Budget

Creating a budget isn’t complicated, but it can difficult if your teen has no idea what to expect. Knowledge can be empowering.

While we may take it for granted since have to deal with the numbers, but your teen may not be aware of how much it takes to keep the lights on and roof over their heads. If you haven’t already shared your own budget already, now is the time.

Not knowing also puts them at a disadvantage when they start searching for a place or are comparing prices on expenses. Being armed with the numbers makes your teenager a more informed consumer.

When Your Teen Breaks Their Budget

Will there be times where your teenager will mess up with their budget? Probably so. However, that’s not necessarily a bad thing. As parents, we tend to want to protect our kids, but we also have to prepare them for the real world. As Ron Lieber, author of The Opposite of Spoiled, pointed out we should let our kids make financial mistakes. 

Wouldn’t it be better for your child to break the clothing budget while they’re still at home allowing you to help guide them through rather than having break their monthly budget while they are on their own and have bills to pay?

Mistakes will happen, they’re a part of life so giving your teen time to work those them and adjust their budget is a blessing for their future selves.

Essential Accounts for Your Teen  to Have

Since we’re talking about budgets, we should also mention some essential accounts you’d want your kid to have so they can practice managing their money.

Opening up student checking and savings accounts (usually free low on fees as well as not having minimum balance requirements) are good foundational accounts for your teen. They can deal with real-world situations pending charges, automatic transfers, and direct deposits.

As Family Balance Sheet founder Kristia Ludwick pointed out, teens should have the skill of balancing a checkbook even if they decide to go all-digital with their banking.

If they work, talk it over together and see if they can open up an IRA and start contributing. It doesn’t have to be much. The idea is to get them familiar and comfortable with the basics of investing.

Even if they put in $25 a paycheck, having them practice setting aside money in their budget for both long and short term goals is an invaluable lesson. You can also encourage them to contribute by offering a match for what they put in.

How Teens Can Easily Stay on Top of Their Money

With several accounts to keep tabs on, your teen is going to need an easy system to track their budget and goals.

With Mint, they can link up their accounts in one secure spot. They can also add their budget along with any savings goals they want to hit and make sure they stick with them.

Hopefully, these ideas and tips will make it easier to help your teen transition into a self-sufficient adult.

The post How to Teach Your Teen to Budget Like a Pro appeared first on MintLife Blog.

Source: mint.intuit.com

7 Myths About Work From Home Jobs & What It’s Really Like

By in Extra Income, Financial Clarity Tag , , , , , , , , , , , ,

I have been working from home or while traveling full-time since around 2013, and since then I have heard so many myths about work from home jobs.I have been working from home or while traveling full-time since around 2013, and since then I have heard so many myths about work from home jobs.

Some of the things that I’ve heard over the years include:

“Working from home must be boring.”

“You must have so much free time to get chores done!”

“Aren’t all work from home jobs scams?”

“Working from home isn’t a real job”

Whether you work for yourself and your office is in your home, or if you telecommute and work for someone else, I’m sure you’ve heard some of these myths about work from home jobs as well.

Truth is, so many people think that working from home is something different, until they get to experience it.

And, this is something that many people are learning in 2020 due to current events!

Now, I want to say that I absolutely love and enjoy working from home.

I would not change a single thing about working from home.

However, some people have said certain things to me that really make me laugh. I think part of that is because they’ve never worked from home before, and the reality is that working from home is still work.

Working from home can be different for everyone because we all have different jobs. Also, what your work from home situation is like makes a big difference too. 

Working from home with kids can make things more challenging. Some jobs keep you tied to your laptop, some require extreme concentration, some are more flexible, etc.

Still, it’s all work!

Today, I want to talk about some of the most common work from home facts and myths. I’m going to explain the misconceptions of working remotely and what’s really happening when people work from home.

Now, I hope today’s article doesn’t come across as a big complaint. Instead, I simply want to shed some light on the topic and explain the truth about working from home.

Content related to myths about work from home jobs:

  • 12 Work From Home Jobs That Can Earn You $1,000+ Each Month
  • Ways To Make An Extra $1,000 A Month
  • 9 Work From Home and Travel Careers
  • 15 Outdoor Jobs For People Who Love Being Outside

Here are common 7 myths about work from home jobs.

 

Myth: You can run errands for everyone during the day

“You must have so much free time to get chores done!”

When I first started working from home, I received so many phone calls from people asking me to do favors, and almost every single time it started with “since you have nothing else to do during the day…”

While I don’t mind helping others around me, I know I’m not alone – this is something that many, many people who work from home have an issue with.

It can be so hard saying no.

Many people think that if you work from home, you don’t actually do anything all day. This sometimes leads to friends and family members asking for favors from those who work from home.

I know friends who work from home who have been asked to babysit, pick things up from the store, grab dry cleaning, bring a pet to the groomer, and more. 

If you have the time and you want to, by all means say yes to every favor. It does feel good to help others.

But, don’t feel like you have to jump on every request just because you work from home.

 

Truth: People who work from home still have to stick to a schedule

One of the reasons people believe that last myth is because working from home is so flexible, and they’ve probably heard that before.

The truth is, while it’s flexible, many people who work from home still try and stick to a normal-ish schedule. 

That’s because if you have other people in your life that keep regular 9-5 hours or have kids in school, working during “normal” hours makes the most sense. It’s probably the only time you have to get any work accomplished. 

Be honest with the people around you and explain the situation. More importantly, be realistic with yourself. It feels nice to help other people out, but running errands all day for others can prevent you from completing work, force you to work late in the evening or weekends, and it can also cost you money.

It also helps to set some boundaries with those around you. Tell the people in your life if there are certain times they shouldn’t bother you, that you might not pick up the phone right away, etc.

Not everyone will understand, some people will get it, and some people probably aren’t sure what working from home means.

But, most people will happily respect your boundaries once you tell them what they are.

 

Myth: Working from home is boring

“I could never work from home, I would be too bored.”

I hear this all the time, ever since I first started working from home.

This is one of the myths about work from home jobs that people believe because they think they would miss working with other people. I understand that – I remember having lots of fun with some of the people I used to work with.

Many people believe this myth because it might sound boring to stay in your house all of the time. It can be, that’s not always the case.

 

Truth: Working from home can be both exciting and boring

Some people would probably think that blogging is boring whether they did it in an office or from home. That’s probably true for lots of jobs.

Your job can be exciting, boring, stressful, calm, easy, difficult, etc. And, it can feel like all of those things over the course of the day. 

Another thing is that while working from home might sound boring to some people, I look at what it allows me to do. Don’t get me wrong, I love my job, and I don’t find it boring, at all. 

But, I also love that working from home allows me to travel full time. I have gotten to visit so many amazing places. And, I can choose when I work.

Still, there are some days when I’d rather be doing something other than working, but that doesn’t make working from home boring.

If you’re struggling with this, think about what your situation allows you to do. Focus on the positives.

Some people love what they do, and others love what their job allows them to do.

 

Myth: All work from home jobs are scams

When I tell people what I do, they usually don’t believe it. Many people think that home businesses are scams.

While this myth has eased a little bit over the years, a LOT of people thought working from home was a scam just about a decade ago.

Things have changed a lot in the last several years!

According to Stanford, 42% of the U.S. labor force currently works from home full-time in 2020.

Not all work at home jobs are scams. I have a legitimate business! Just like anyone else who has a business, mine is a business as well.

There are many, many work from home jobs that exist and are legitimate.

 

Truth: There are work from home scams

Unfortunately, there are still some scams out there. 

There are scams that say a company will pay you $10 for every envelope you stuff. There are some scams where a person says they’ll send you a big check up front, but you have to forward part of that check back to the business.

Work from home scams do exist, but that’s not at all the case with the majority of them.

Please head to How To Spot Work From Home Job Scams And Avoid Them At All Costs to learn more.

 

Myth: It’s easy to separate work and life

When you work from home or have your own business, it can be very difficult to completely stop working.

Whenever we go on a trip, I almost always continue working the same amount that I do when I am at home. When you are a business owner, especially in the beginning, you want to bust your butt off to make your business successful. 

It can go the other way too. If you are working from home and see dirty dishes in the sink or unfolded laundry, you can easily get distracted from what you’re doing and stop working. 

It’s also easy to get distracted by personal emails, phone calls, social media, etc. 

This is something I still struggle with.

 

Truth: You can make a better work from home environment

One of the things that may help you separate work from the rest of your life is making sure you set boundaries and create a good physical and mental space to work.

I recommend setting work hours for yourself, making time for vacations, taking breaks throughout the workday, and so on.

Even though you are working from home and you probably don’t have anyone looking over your shoulder to see what you are doing all day long, I still recommend having clear work hours. This will help you manage your time, complete your work, and “leave” work for the day.

If you get distracted by what else is happening in your house, try to make some space that is only for working. You don’t need an office – it can be as simple as a clean dining room table. Or, do the dishes and fold the laundry before you start working.

 

Myth: You’re not actually working when you’re at home

Working from home is still working!

You still have a job and tasks still need to be completed.

This is one of the myths about work from home jobs that gets me the most.

For some reason, many people associate working from home with not doing any work at all. Boy, are they wrong!

I have even had people not believe me and then ask for a full schedule of what I do each day to prove myself.

If me and the millions of other people weren’t actually working when they were home, how would we be holding jobs and getting paid?

 

Truth: People successfully work from home every day

The reality is that the only real thing that changes when you work from home is that the location is different.

People run multi-million dollar businesses from their home. Some hold side hustles, freelance, run Etsy shops, dog sit in their home, work jobs in the corporate world, and much more.

Sure, there are distractions and you may find more time to spend on non-work tasks, but working from home is still working.

 

Myth: You will be lonely when working from home

I’m often asked if I get lonely working from home, and this is one of the most common myths about work from home jobs.

People think that when you work from home that you have absolutely no contact with anyone else. But when I worked in an office, I hardly ever had human contact, except during meetings. That honestly felt more lonely than working from home.

Now, I talk to people all day long. I talk with other bloggers, I answer emails from my readers, and I interact with people on social media. I probably talk with more people now than I did when I worked in an office.

 

Truth: It can be lonely to work from home, but there are ways to make it less lonely

If you do start feeling lonely when you work from home, I have a couple of suggestions to beat the lonely feeling.

You can start a Slack chat with those that you work with or hop on a video call. There are also meetups you can attend that relate to work or your hobbies. There are also lots of online groups, like Facebook groups or subreddits, where you can network with others in your field.

Working from home doesn’t have to feel lonely all of the time.

 

Myth: You will spend all of your time in pajamas

When I first started working from home, I spent a lot of time in my pajamas.

However, that’s not the case anymore.

Now that we live on a boat and have to walk the dogs regularly, I have to go outside often and I’d prefer if everyone around me didn’t have to see me in my pajamas all the time, haha.

 

Truth: It’s okay to work in your pajamas

Some people get completely dressed up for work every day, even though they work from home full-time. It helps get them in the mood for work, and I completely get that.

Some put on a nice top, but still wear athletic shorts or pajama pants.

You will have to find what works best for you.

But, if you want to work in your pajamas, do it. That’s one of the perks of working from home. Don’t let anyone make you feel bad about wearing pajamas if that’s what you want.

 

What are the pros and cons of working from home?

I am a big fan of working from home. You can probably tell that now, haha!

The reasons these myths about work from home jobs bother me is because I love what I do and I love helping other people realize that they can work from home too.

Being able to work from home is one of the best things I’ve been able to do. Some of the pros are:

  • It allows me to spend more time with my family
  • I can travel full-time
  • My schedule is flexible
  • I can make a great income from home, and more

Now, what are the negatives of working from home?

Some of the cons are:

  • It can be hard to separate your work and life
  • Some people may find it lonely
  • Some people in your life may struggle with the boundaries you set
  • It can be a big adjustment if you’ve never done it before

The reality is that there are pros and cons about any kind of job. The negatives don’t just apply to work from home jobs. It’s about finding what works for you.

 

Is working from home right for you?

After reading all of the above, you may be wondering how you can make working from home work for you.

Here are some of my tips:

  • Set working hours for yourself
  • Create a dedicated work area
  • Hire help if you need it
  • Cut out distractions
  • Socialize with others
  • Don’t run errands for others all day long
  • Take time off work when you are sick

I recommend reading My Best Working From Home Tips So You Can Succeed to learn more about how you can work from home most efficiently.

Even with talking about all of the myths above, there are still many benefits to working from home.

Being able to work from home is one of the best things I’ve been able to do, and I know many people who feel the same way.  I know it can be hard at times, but it’s all just the reality of working from home.

What common myths about work from home jobs have you heard?

The post 7 Myths About Work From Home Jobs & What It’s Really Like appeared first on Making Sense Of Cents.

Source: makingsenseofcents.com

Why Set Impossible Goals for 2021? [The Ultimate New Year’s Savings Hack]

By in Early Career Tag , , , , , , , , , , , , , , , , , , , , , ,

In the 1980s, self-driving cars and smartphones without antennas were only things you’d see in movies — unimaginable futuristic goals. Now, these “impossible” inventions are part of people’s everyday lives. These innovative ideas were thought to be outlandish years ago until creators like Elon Musk and IBM’s team put their impossible goals to the test.

Impossible goals are things you want to achieve that seem out of the ordinary — ones that feel as if you may never reach them, even in your wildest dreams. These goals could be turning your dream side hustle into a full-time job or building your savings from zero in the next year to buy your dream home.

While the end result seems unreachable, a mix of motivation, determination, and hard work can get you further than you think. To see the strategic process of setting and achieving your biggest life goals, keep reading our jump to our infographic below.

What’s an Impossible Goal?

An impossible goal is a goal you think you could never achieve. Becoming a millionaire, buying your dream home, or starting a business may be your life goal, but one too big that you never set out to achieve. Instead, you may stick to your current routine and believe you should live life in the comfort zone.

Becoming a millionaire usually requires investing time, confidence, and a lot of hard work — things that may challenge you. But when you think about the highest achievers, most of them had to put in the effort and believe in themselves when nobody else did.

Flashback to 1995 when nobody believed in the “internet store” that came to be Amazon. While that was considered impossible years ago, Amazon’s now made over $280 billion dollars.

In other words, when you make your impossible goals a priority, you may be pleasantly surprised by your progress. We share how to set hard financial goals, why you should set them, and how these goals could transform your financial portfolio this year.

Impossible Goals Set by the Rich and Famous

4 Reasons to Reach for the “Impossible”

Impossible goals challenge you to shift your way of thinking — getting comfortable out of the safety zone. They help fine-tune your focus for daunting tasks you’re willing to put in the time and work for. Whether you’re looking to become a millionaire, buy your dream house, or pay down your debts, here’s why you should set goals for things you think you could never achieve.

1. You May Be Pleasantly Surprised

Everything seems impossible until you do it. When you’re in elementary school, maybe you thought getting a four-year college degree would be out of reach. Regardless, you put in the time and hard work to become a college grad years later. The same goes for your potential goal to write a book. You may think it’s hopeless to write a few hundred pages in the next year, but you may find it attainable once you hit the halfway point.

2. You Check Off Micro-Goals Along the Way

It’s hard to set your goals too low when you’re trying to reach for the stars. In the past, you may have set small goals like being more mindful with your money. While mindfulness practices are extremely beneficial for your budget, you may need more of a push to save for your dream home. By setting impossible goals, you may find it easier to reach your savings goal this year. You may have no idea how to do it, but your goal is to figure it out. Side hustles, a new job, or starting a business are all potential starting points.

3. It May Not Be as Hard as You Think

It can be uncomfortable to try something for the first time, so to avoid the doubts of reaching your goals, create a strategic plan. Download and print out our printable to breakdown each impossible goal. Start with your big goals and break them down into mini-goals. For example, if you want to start an online ecommerce store, researching the perfect website platform is a good starting point.

4. What Do You Have to Lose?

If you already live a comfortable life, you may only have experiences to gain and nothing to lose. When embarking on this journey, check in with yourself every month. Note all the lessons you learned and how far you’ve come. You most likely will face failures, but you’ll be failing forward rather than backwards. Your first ecommerce product launch may not have gone smoothly, but you may know how to improve for the next time around.

Impossible Goals Roadmap

Impossible Goals Download Button

How To Set Impossible Budgeting Goals in 6 Steps

If your impossible goal is related to finances, your mindfulness, time, and dedication will be required to put you on a path towards your dream life. To get started, follow our step-by-step guide below.

Step 1: Map Out Your Dream Lifestyle

  • Get out a journal and map out your dream life. Some starter questions may be:
  • Do you want to afford that house you’ve always dreamt about?
  • Do you want to have a certain amount of money in your savings?
  • Are you hoping to turn your side hustle into a full-time job?
  • What do you find yourself daydreaming about?

Track all these daydreams in a notebook and curate the perfect action plan to achieve each goal.

Step 2: Outline Micro-goals to Reach Your Financial Goals

Now, list out mini-goals to achieve your desires. Start with the big “unachievable” goal and break it down into medium and small goals, then assign each mini-goal a due date. For example, saving $10,000 this year may take more than your current monthly earnings. To achieve this, you may create passive income streams. If that side hustle is to start a money-making blog, you may need to research steps to successfully launch your website.

Step 3: Believe and Act Like Your Future Self

Think of yourself as the future self you want to be. You may picture yourself with a certain home, financial portfolio, and lifestyle, but your current actions may not reflect your future self. Your future self may invest, but your current self is too intimidated to start. To act like your future self, consider doing the research and finding low-risk investments that suit you and your budget.

Step 4: If You Fail, Learn from Your Mistakes

When working towards your dream life, you may hit roadblocks and experience failures. As Oprah explains it, “there is no such thing as failure. Failure is just life trying to move us in another direction.” While failure may happen, you’re able to learn from it and pivot. Every mistake you make, analyze it in your journal. Note what worked, what didn’t, and what you want to do better tomorrow to surpass this roadblock.

Step 5: Track Your Results Consistently

Host monthly meetings with yourself to see how far you’ve come. Consider creating a goal tracking system that suits you best. That may include checking your budgeting goals off in our app month after month. Find a system that works for you and note your growth at the end of each month. If you’re putting in the time and hard work, you’ll get closer to your goals in no time.

Step 6: Be Patient With Your Budget Goals

Throughout this journey, practice patience. Setting goals may be exciting and motivating, but when you’re faced with failures, you may feel hints of disappointment. To avoid a failure slump, be patient and open to learn from your mistakes. If you didn’t make what you wanted from your side hustle the first year, you’re that much closer than you were last year.

Why set your sights on hard goals? Everything feels out of reach until you do it. All it takes is motivation and determination to achieve the impossible. To boost your lifestyle, budget, and drive this New Year, consider setting goals that feel out of reach. Keep reading to see why these goals may be perfect for you. Why Set Impossible Goals for 2021? [The Ultimate New Year’s Savings Hack] appeared first on MintLife Blog.

Source: mint.intuit.com

Here Are The Best Student Loans of 2021

By in Apartment Hunting, Debt, Student Loans Tag , , , , , , , , , , , , , , , , , , , , , , , ,

The best student loans can help you earn a college degree that will lead to higher earnings later in life. They also come with low interest rates and reasonable fees (or no fees), which will make it easier to keep costs down while you’re in school and once you’re in repayment mode.

For most people, federal student loans are the best deal. With federal student loans, you can qualify for low fixed interest rates and federal protections like deferment, forbearance, and income-driven repayment plans. To find out how much you can borrow with federal student loans, you should fill out a FAFSA form. Doing so can also help you determine if you qualify for any additional student aid, and if so, how much.

While federal student loans are usually the best deal for borrowers, many students need to turn to private student loans at some point during their college careers. This is often the case when federal student loan limits have been exhausted, or when federal student loans are no longer an option due to other circumstances. We’re providing the top 8 options, at least according to us, as well as a guide to help you get the best rate.

Apply now with our top pick: College Ave

Most Important Factors When Applying for Student Loans

  • Start with a federal loan. Fill out a FAFSA form prior to applying for a private loan to make sure you’re getting all the benefits you can.
  • Compare loans across multiple lenders. Consider using a comparison company like Credible to do so.
  • Always read the fine print. Fees aren’t always boasted on the front of a lender’s website, so take time to learn about what you’re getting into.
  • Start paying as soon as you can to avoid getting crushed by compound interest.

Best Private Student Loans of 2021

Fortunately, there are many private student loan options that come with low interest rates and fair terms. The best student loans of 2021 come from the following private lenders and loan comparison companies:

  • Best for Flexibility
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  • Best Loan Comparison
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  • Best for Low Rates and Fees
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  • Best for No Fees
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  • Best Student Loans from a Major Bank
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  • Best Student Loans with No Cosigner Required
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  • Best for Fair Credit
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  • Best for Comprehensive Comparisons
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#1: College Ave — Best for Flexibility

College Ave offers private student loans for undergraduate and graduate students as well as parents who want to take out loans to help their kids get through college. Variable APRs as low as 3.70% are available for undergraduate students, but you can also opt for a fixed rate as low as 4.72% if you have excellent credit. College Ave offers some of the most flexible repayment options available today, letting you choose from interest-only payments, flat payments, and deferred payments depending on your needs. College Ave even lets you fill out your entire student loan application online, and they offer an array of helpful tools that can help you figure out how much you can afford to borrow, what your monthly payment will be, and more.

Qualify in Just 3 Minutes with College Ave

#2: Credible — Best Loan Comparison

Credible doesn’t offer its own student loans; instead, it serves as a loan aggregator and comparison site. This means that, when you check out student loans on Credible, you have the benefit of comparing multiple loan options in one place. Not only is this convenient, but comparing rates and terms is the best way to ensure you get a good deal. Credible even lets you get prequalified without a hard inquiry on your credit report, and you can see loan offers from up to nine student lenders at a time. Fixed interest rates start as low as 4.40% for borrowers with excellent credit, and variable rates start at 3.17% APR with autopay.

Compare Dozens of Rates at Once with Credible

#3: Sallie Mae — Best for Low Rates and Fees

Sallie Mae offers its own selection of private student loans for undergraduate students, graduate students, and parents. Interest rates offered can be surprisingly low, starting at 2.87% APR for variable rate loans and 4.74% for fixed-rate loans. Sallie Mae student loans also come without an origination fee or prepayment fees, as well as rate reductions for students who set up autopay. You can choose to start repaying your student loans while you’re in school or wait until you graduate as well. Overall, Sallie Mae offers some of the best “deals” for private student loans, and you can even complete the entire loan process online.

Get Access to Chegg Study FREE with Sallie Mae

#4: Discover — Best for No Fees

While Discover is well known for their excellent rewards credit cards and personal loan offerings, they also offer high-quality student loans with low rates and fees. Not only do Discover student loans come with low variable rates that start at 3.75%, but you won’t pay an application fee, an origination fee, or late fees. Discover student loans are available for undergraduate students, graduate students, professional students, and other lifelong learners. You can even earn rewards for having a 3.0 GPA or better when you apply for your loan, and Discover offers access to U.S. based student loan specialists who can answer all your questions before you apply.

Apply for a Loan with Discover

#5: Citizens Bank — Best Student Loans from a Major Bank

Citizens Bank offers their own flexible student loans for undergraduate students, graduate students, and parent borrowers. Students can borrow with or without a cosigner and multi-year approval is available. With multi-year approval you can apply for student funding one time and secure several years of college funding at once. This saves you from additional paperwork and subsequent hard inquiries on your credit report. Citizens Bank student loans come with variable rates as low as 2.83% APR for students with excellent credit, and you can make full payments or interest-only payments while you’re in school or wait until you graduate to begin repaying your loan. Also keep in mind that, like others on this list, Citizens Bank lets you apply for their student loans online and from the comfort of your home.

#6: Ascent — Best Student Loans with No Cosigner Required

Ascent is another popular lender that offers private student loans to undergraduate and graduate students. Variable interest rates start at 3.31% whether you have a cosigner or not, and there are no application fees required to apply for a student loan either way. Terms are available for 5 to 15 years, and Ascent even offers cash rewards for student borrowers who graduate and meet certain terms. Also note that Ascent lets you earn money for each friend you refer who takes out a new student loan or refinances an existing loan.

Get a Loan in Minutes with Ascent

#7: Earnest — Best for Fair Credit

Earnest is another online lender that offers reasonable student loans for undergraduate and graduate students who need to borrow money for school. They also offer a free application process, a 9-month grace period after graduation, no origination fees or prepayment fees, and a .25% rate discount when you set up autopay. Earnest even lets you skip a payment once per year without a penalty, and there are no late payment fees. Variable rates start as low as 3.35%, and you may be able to qualify for a loan from Earnest with only “fair” credit. For their student loan refinancing products, for example, you need a minimum credit score of 650 to apply.

Learn Your Rate in Minutes with Earnest

#8: LendKey — Best for Comprehensive Comparisons

LendKey is an online lending marketplace that lets you compare student loan options across a broad range of loan providers, including credit unions. LendKey loans come with no application fees and variable APRs as low as 4.05%. They also have excellent reviews on Trustpilot and an easy application process that makes applying for a student loan online a breeze. You can apply for a loan from LendKey as an individual, but it’s possible you’ll get better rates with a cosigner on board. Either way, LendKey lets you see and compare a wide range of loan offers in one place and with only one application submitted.

Pay Zero Application Fees with LendKey!

How to Get the Best Student Loans

The lenders above offer some of the best student loans available today, but there’s more to getting a good loan than just choosing the right student loan company. The following tips can ensure you save money on your education and escape college with the smallest student loan burden possible.

Consider Federal Student Loans First

Like we mentioned already, federal student loans are almost always the best deal for borrowers who can qualify. Not only do federal loans come with low fixed interest rates, but they come with borrower protections like deferment and forbearance. Federal student loans also let you qualify for income-driven repayment plans like Pay As You Earn (PAYE) and Income Based Repayment (IBR) as well as Public Service Loan Forgiveness (PSLF).

Compare Multiple Lenders

If you have exhausted federal student loans and need to take out a private student loan, the best step you can take is comparing loans across multiple lenders. Some may be able to offer you a lower interest rate based on your credit score or available cosigner, and some lenders may offer payment plans that meet your needs better. If you only want to fill out a loan application once, it can make sense to compare multiple loan offers with a service like Credible.

Improve Your Credit Score

Private student loans are notoriously difficult to qualify for when your credit score is less than stellar or you don’t have a cosigner. With that in mind, you may want to spend some time improving your credit score before you apply. Since your payment history and the amounts you owe in relation to your credit limits are the two most important factors that make up your FICO score, make sure you’re paying all your bills early or on time and try to pay down debt to improve your credit utilization. Most experts say a utilization rate of 30% or less will help you achieve the highest credit score possible with other factors considered.

Check Your Credit Score for Free with Experian

Get a Quality Cosigner

If your credit score isn’t at least “very good,” or 740 or higher, you may want to see about getting a cosigner for your private student loan. A parent, family member, or close family friend who has excellent credit can help you qualify for a student loan with the best rates and terms available today. Just remember that your cosigner will be liable for your loan just as you are, meaning they will have to repay your loan if you default. With that in mind, you should only lean on a cosigner’s help if you plan to repay your loan amount in full.

Consider Variable and Fixed Interest Rates

While private student loans offer insanely low rates for borrowers with good credit, their variable rates tend to be lower. This is why you should always take the time to compare variable and fixed rates across multiple lenders to find the best deal. If you believe you can pay your student loans off in a few short years, a variable interest rate may help you save money. If you need a decade or longer to pay your student loans off, on the other hand, a low fixed interest rate may provide you with more peace of mind.

Check for Discounts

As you compare student loan providers, make sure to check for discounts that might apply to your situation. Many private student loan companies offer discounts if you set your loan up on automatic payments, for example. Some also offer discounts or rewards for good grades or for referring friends. It’s possible you could qualify for other discounts as well depending on the provider, but you’ll never know unless you check.

Beware of Fees

While the interest rate on your student loan plays a huge role in your long-term loan costs, don’t forget to check for additional fees. Some student loan companies charge application fees or prepayment penalties if you pay your loan off early, for example. Others charge origination fees that tack on a few additional percentage points to your loan amount right off the bat. If you can find a student loan with a low interest rate and no additional fees, you’ll be much better off. Since loan fees may not be prominently advertised on student loan provider websites, however, keep in mind that you may need to dig into their fine print to find them.

Make Payments While You’re in School

Finally, no matter which loan you end up with, it makes a lot of sense to make payments while you’re still in school if you’re earning any kind of income. Even if you make interest-only payments while you attend college part-time or full-time, you can save yourself from paying thousands of dollars in additional interest payments later in life. Remember that compound interest can be a blessing or a curse. If you can keep interest at bay by making payments while you’re in school, you can squash compound interest and keep your loan balances from growing. If you let compound interest run its course, on the other hand, you may wind up owing more than you borrowed in the first place by the time you graduate school and start repayment.

What to Watch Out For

A private student loan may be exactly what you need in order to finish your degree and move up to the working world, but there are plenty of “gotchas” to be aware of. Consider all these factors as you apply for a new private student loan or refinance existing loans you have with a private lender.

  • Interest that accrues while you’re in school: Remember that subsidized loans may not accrue interest until you graduate from college and enter repayment mode, but that unsubsidized loans typically start accruing interest right away. Since private student loans are unsubsidized, you’ll need to be especially careful about ballooning interest and long-term loan costs.
  • Getting a cosigner: Make sure you only apply for a private student loan with a cosigner if you’re entirely sure you can repay your loan over the long haul. If you fail to keep up with your end of the bargain, you could destroy trust with that person and their credit score in one fell swoop.
  • You’ll lose out on some protections: Also remember that private student loans come with fewer protections than federal student loans. You won’t have the option for income-driven repayment plans with private loans, nor will you be able to qualify for federal deferment or forbearance. For this reason, private student loans are best for students who are confident in their ability to repay their loans on their chosen timeline.

In Summary: The Best Student Loans

Company Best Of…
College Ave Best for Flexibility
Credible Best for Loan Comparison
Sallie Mae Best for Low Rates and Fees
Discover Best for No Fees
Citizens Bank Best Student Loans from a Major Bank
Ascent Best Student Loans with No Cosigner Required
Earnest Best for Fair Credit
LendKey Best for Comprehensive Comparisons

The post Here Are The Best Student Loans of 2021 appeared first on Good Financial Cents®.

Source: goodfinancialcents.com

4 Practical Ways to Leave College Debt-Free

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A college student looks down at her notebook and smiles because she'll leave college debt-free.

The following is a guest post by Lisa Bigelow, a content writer for Bold.

When it comes to paying for college, the anxiety about how to leave college debt-free starts early. And for thousands of grads who are buckling under the weight of monthly student loan payments that can cost as much as a mortgage, that worry can last for as long as 25 years.

According to EducationData.org and The College Board, the cost of a private school undergraduate education can exceed $200,000 over four years. Think you can avoid a $100k+ price tag by staying in-state? Think again—many public flagships can cost over $100,000 for residents seeking an undergraduate degree, including room and board. And with financial aid calculators returning eye-poppingly low awards, you’d better not get a second topping on your pizza.

In fact, you’d better hope that you can graduate on time.

The good news is that you can maintain financial health and get a great education at the same time. You won’t have to enroll as a full-time student and work 40 hours a week, either—each of the methods suggested are attainable for anyone who makes it a priority to leave college debt-free.

Here are four practical ways you can leave college debt-free (and still get that second pizza topping).

1. Cut the upfront sticker price

Don’t visit schools until you are certain you can afford them. Instead, prioritize the cost of attendance and how much you can afford to pay. Staying in-state is one easy way to do this. But if you have wanderlust and want to explore colleges outside state lines, an often-overlooked method of cutting the upfront cost is the regional tuition discount. Many US states participate in some form of tuition reciprocity or exchange programs. You can explore the full list of options at the National Association for Student Financial Aid Administrators website.

Let’s explore how this works. As a resident of a New England state, for example, you can study at another New England state’s public university at a greatly reduced cost if your home state’s public schools don’t offer the degree you want. So, for example, if you live in Maine but want to go to film school, you can attend the University of Rhode Island and major in film using the regional tuition discount.

Some universities offer different types of regional discounts and scholarships that appear somewhat arbitrary. The University of Louisville (in Kentucky) includes Connecticut in its regional scholars program. And at the University of Nebraska, out-of-state admitted applicants are eligible for several thousand dollars in renewable scholarship money if they meet modest academic standards.

If you already have your heart set on an expensive school and you’re not likely to qualify for reciprocity, financial help, or merit aid, live at home and complete your first two years at your local community college.

Here’s another fun fact: in some places, graduating from community college with a minimum GPA gives you automatic acceptance to the state flagship university.

2. Leverage dual enrollment and “testing out”

When you enroll in a four-year college it’s pretty likely that you’ll spend the first two years completing general education requirements and taking electives. Why not further reduce the cost of your education by completing some of those credits at your local community college, or by testing out?

Community college per-credit tuition is usually much cheaper than at four-year colleges, so take advantage of the lower rate in high school and over the summer after you’re enrolled in your four-year college.

But beware: you’ll probably need at least a C to transfer the credits, so read your institution’s rules first. Also, plan to take general education and low-level elective classes, because you’ll want to take courses in your major at your four-year school.

If you’ve been given the opportunity to take Advanced Placement courses, study hard for your year-end exams. Many colleges will accept a score of 3 or higher for credit, although some require at least a 4 (and others none at all). Take four or five AP classes in high school, score well on the exams, and guess what? You’ve just saved yourself a semester of tuition.

3. Take advantage of financial aid opportunities

After taking steps one and two, you probably have a good idea of what the leftover expense will be if you want to leave college debt-free. Your next job is to figure out how to cut that total even more by using financial aid. There are four types to consider.

The first is called need-based aid. This is what you’ll apply for when you complete your Free Application for Federal Student Aid. Known as the FAFSA, this is where you’ll enter detailed financial information, and you’ll need at least an hour the first time you complete this form. Hint: apply for aid as soon as the form opens in the fall. It is not a bottomless pot of money.

There is also medical-based financial aid. If you have a condition that could make employment difficult after graduating from college, you may be eligible, and qualifying is separate and apart from financial need and academic considerations.

The third type of aid relates to merit and is offered directly by colleges. Some schools automatically consider all accepted applicants for merit scholarships, which could relate to academics or community service or, in the case of recruited athletes, athletics. At other universities, you’ll need to submit a separate scholarship application after you’ve been admitted. Some merit awards are renewable for four years and others are only for one year.

If you didn’t get need-based or merit-based aid then you still may qualify for a private scholarship. Some require essays, some don’t, and some are offered by local community organizations such as rotary clubs, women’s organizations, and the like. Don’t turn your nose up at small-dollar awards, either, because they add up quickly and can cover budget-busting expenses such as travel and books.

4. Find easy money

Small-dollar awards really add up when you make finding easy money a priority. Consider using the following resources to help leave college debt-free:

  • Returns from micro-investing apps like Acorns
  • Tax return refunds
  • Browser add-ons that give you cashback for shopping online
  • Rewards credit cards (apply for a travel rewards credit card if you’re studying out of state)
  • Asking for money at the holidays and on your birthday
  • Working part-time by capitalizing on a special talent, such as tutoring, photography, or freelance writing

Leave College Debt-Free

Finally, if you have to take out a student loan, you may be able to have it forgiven if you agree to serve your community after graduation. The Peace Corps is one such way to serve, but if you have a specialized degree such as nursing, you can work in an underserved community and reap the rewards of loan forgiveness.

Lisa Bigelow writes for Bold and is an award-winning content creator, personal finance expert, and mom of three fantastic almost-adults. In addition to Credit.com, Lisa has contributed to The Tokenist, OnEntrepreneur, College Money Tips, Finovate, Finance Buzz, Life and Money by Citi, MagnifyMoney, Well + Good, Smarter With Gartner, and Popular Science. She lives with her family in Connecticut.

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6 Ways I Saved Money On College Costs

By in Budgeting, College, Debt, Student Loans Tag , , , , , , , , , , , , , , , , , ,

Check out this list of ways to save money on college costs. This is a great list!How much does college cost? This is a question many wonder. There’s rarely a week that goes by where I don’t receive an email from a student or parents of a student who are looking for ways to cut college costs. That’s why today I want to talk about college costs and how you can create a college budget that works so that you can save money in college.

College is very expensive – there is no doubt about that.

However, I want you to know that it IS possible to get a valuable college degree on a budget!

The average public university is over $20,000 per year and the average private university totals over $45,000 once you account for tuition, room and board, fees, textbooks, living expenses and more.

Even with how expensive college can possibly be, there are many ways to cut college expenses and create a college budget so that you can control rising college costs.

Continue reading below to read about the many different ways I cut college costs. While I was not perfect and still racked up student loan debt, I did earn three college degrees on a reasonable budget.

Related articles:

  • How I Graduated From College In 2.5 Years With 2 Degrees AND Saved $37,500
  • How I Paid Off $38,000 In Student Loan Debt In 7 Months
  • The Benefits of Paying Off Student Loan Debt Early
  • Should I Ruin My Retirement By Helping My Child Through College?
  • How To Save Money – My Best Money Saving Tips

 

1. Take classes at a community college to cut college costs.

Whether you are in college already or you haven’t started yet, taking classes at a community college can be a great way to save money.

Earning credits at a community college usually costs just a small fraction of what it would cost at a 4-year college, so you may find yourself being able to save thousands of dollars each semester.

There is a myth out there that your degree is worth less if you go to a community college. That is NOT TRUE at all. When you finally earn your 4-year degree, your degree will only say where you graduated from and it won’t even mention the community college credits at all. So this myth makes no sense because your degree looks the exact same as everyone else’s’ who you went to college with. You might as well save money because it won’t make much of a difference.

I only took classes at a community college during one summer semester where I earned 12 credits, and I still regret not taking more. I probably could have saved around $20,000 by taking more classes at my local community college.

Also, you are most likely just taking general credits at the community college, so it’s not like you would be missing much by taking classes there instead of a college that has a better reputation for the major you are seeking.

If you do decide to go to a community college, always make sure that the 4-year college you plan on attending afterwards will transfer all of the credits. It’s an easy step to take so do not forget! You should do this before you sign up and pay for any classes as well as to make sure that ALL of the classes will transfer succesfully.

 

2. Take advantage of high school classes to lower your college budget.

Many high schools allow you to take college classes to earn both college and high school credits at the same time.

This is something I highly recommend you look into if you are still in high school, as it saves time and is one of the best ways to save money on college costs.

When I was in my senior year in high school, nearly all of my classes were dual enrollment courses where I was earning college and high school credit at the same time. I took AP classes and classes that earned me direct college credit from nearby private universities. I left high school with around 14-18 credit hours (I can’t remember the exact amount). This way I knocked out a whole semester of college. I could’ve taken more, but I decided to take early release from high school and worked 30-40 hours a week as well.

 

3. Take all the credits you can to stay within your college budget.

At many universities, you pay a flat fee. So whether you take 12 credit hours or 18 credit hours, you are paying nearly the exact same price.

For this reason, I always recommend that a student take as many classes as they can if they are going to a college that charges a flat fee tuition.

If you think you can still earn good grades and do whatever else you do on the side, definitely get full use of the college tuition you are paying for!

 

4. Apply for scholarships to lower your college costs.

Before you start your semester, you should always look into scholarships, grants, FAFSA, and more. You usually have to turn in any paperwork around spring time for the following semester, so I highly recommend doing this right now if you are going to college in the fall.

Another myth will be busted right now. Many believe that all scholarships are impossible to have or it means you have to win a contest. That is just a myth.

I received around $16,000 a year in scholarships to the private university I attended. That helped pay for a majority of my college tuition. The scholarships were easy for me to get as they were all just because I earned good grades in high school and scored well on tests. I received scholarships to all of the other colleges I applied for as well just for good grades, so I know they can be found as long as you do well in high school!

There are other ways to find scholarships as well. You can receive scholarships from private organizations, companies in your town, and more. Do a simple Google search and I am sure you will find many free websites that list out possible scholarships for you to apply to.

Tip: Many forget that you usually have to turn in a separate financial aid form directly to your college. Don’t forget to do this by the deadline each year!

 

5. Search for cheaper textbooks to lower your college budget.

Students usually spend anywhere from around $300 to $1,000 on textbooks each semester, depending on the amount of classes they are taking and their major.

For me, many of my classes required more than one book and each book was usually around $200 brand new. This means if I were to buy all of my college textbooks brand new, I probably would have had to spend over $1,000 each semester.

I saved a decent amount of money on college textbooks by renting them and finding them used. Renting them was nice because I just had to pay one fee and didn’t ever have to worry about what to do with the textbook after the class was done, as I only had to return them. There was no worrying about the book being worthless if a new edition came out, which was nice! Buying books used was nice occasionally as well just because sometimes I could make my money back.

I recommend Campus Book Rentals if you are looking for textbook rentals. Their rentals are affordable and they make getting the textbooks you need easy.

Read: How To Save Money On Textbooks + Campus Book Rentals Review

 

6. Skip the high price of living on campus to cut your college budget.

To save more money, I decided to live on my own. I didn’t have the option of living at home after high school and living on campus would have cost me a ton of money.

Instead, I found a very cheap rental house (the house was VERY small and probably could have been considered a tiny home) and was able to somewhat easily commute to work and college from it. I probably saved around $500 a month by living on my own instead of on campus, and I learned a lot by living on my own at a young age as well.

If you can live at home though and want to save money, I highly recommend it if it’s an option for you. You can save thousands of dollars a semester by doing this!

I understand that some are against this because it may impact your “college experience,” but I think most people would be fine not living on campus, especially if it’s not in the budget. You could probably save around $40,000 over the years on your degree by living at home.

How did you cut college costs and control your college budget? How much student loan debt did you have when you graduated?

 

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Source: makingsenseofcents.com

The Average Salary of a Pilot

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The Average Salary of a Pilot

The job of an airline pilot has a certain glamour to it. However, unconventional working hours and plenty of time away from home can be a recipe for stress and burnout. This could be why airline and commercial pilots are compensated fairly well, earning a median annual salary of $115,670. That one number doesn’t tell the whole story, though, as it varies depending on whom you fly for and where you’re based. 

The Average Salary of a Pilot

According to the Bureau of Labor Statistics (BLS), the median salary of the group the BLS calls airline and commercial pilots was $115,670 per year in May 2018. The BLS also tracks the job outlook for the careers it studies, measuring how many jobs the career will add between 2016 and 2026. The BLS job outlook for Airline and Commercial Pilots is 4%, which is about as fast as the average across all careers. According to the BLS, the U.S. will add 4,400 airline and commercial pilots between 2016 and 2026.

Where Pilots Earn the Most

The Average Salary of a Pilot

When it comes to tracking state- and city-level earnings data, the BLS looks at commercial pilots and “airline pilots, copilots and flight engineers” separately. Let’s take a look at where commercial pilots earn the most.

The mean annual wage for commercial pilots is $96,530 per year. According to BLS data, the top-paying state for commercial pilots is Georgia, where commercial pilots earn a mean annual wage of $130,760. Other high-paying states for commercial pilots are Connecticut, New York, Florida and Maryland. The top-paying metro area for commercial pilots is Hilton Head Island-Bluffton-Beaufort, SC, where the annual mean wage for commercial pilots is $128,600. Other high-paying metro areas for commercial pilots are Savannah, GA; Seattle-Tacoma-Bellevue, WA; Bakersfield, CA; Fayetteville-Springdale-Rogers, AR-MO and Spartanburg, SC.

Now let’s take a look at where airline pilots, copilots, and flight engineers earn the most. The top-paying state in this field is Washington, with a mean annual wage of $237,150. Other high-paying states for this profession are Michigan, Nevada, Oregon and California. Of the metro areas for which the BLS has data, the top-paying metro area for airline pilots, copilots and flight engineers is San Francisco-Oakland-Hayward, CA, with a mean annual wage of $247,120. Other high-paying metro areas for this field are Seattle-Tacoma-Bellevue, WA; Las Vegas-Henderson-Paradise, NV; Denver-Aurora-Lakewood, CO; Tampa-St. Petersburg-Clearwater, FL and Chicago-Naperville-Elgin, IL-IN-WI.

Becoming a Pilot

Typically, it’s easier to become a commercial pilot than an airline pilot. Because of this, many airline pilots start their career as commercial pilots. To be a pilot of any kind, you’ll need to have a commercial pilot’s license from the Federal Aviation Administration (FAA).  To be an airline pilot, you’ll need an additional document known as a Airline Transport Pilot (ATP) certificate. This is also issued by the FAA.

In terms of education, you will need a high school diploma and a commercial pilot’s license to become a commercial pilot. To become an airline pilot, you will likely need a bachelor’s degree, although it can be in any subject.

The typical path to becoming a commercial pilot is to complete an FAA-certified flight training program. These are held both at independent flight schools and through colleges and universities. Once you’ve assembled enough flying hours, you can get a job as a commercial pilot.

Regional and major airlines typically require significantly more flight experience for new hires. This is another reason why many people start out as commercial pilots and then move on to working for an airline. According to the BLS, many commercial pilot jobs require a minimum of 500 flying hours, whereas entry-level airline jobs require somewhere around 1,500.

Bottom Line

The Average Salary of a Pilot

Have you ever flown out of an airport and wondered what it would be like to be a pilot? With an average annual salary of $102,520, pilots earn a good living. Not just anyone can become a pilot, however. Commercial pilots must earn a commercial pilot certificate, while airline pilots, copilots and flight engineers must earn the Federal Air Transport certificate and rating for the specific aircraft type they fly. Being a pilot is also a dangerous job, so it’s not surprising that pilots’ compensation is high.

Tips for Saving Responsibly

  • The median pilot salary is enough to live comfortably in most areas of the country, but it’s still important to make sure you’re saving some of that money for emergencies and retirement.
  • A financial advisor can be a big help in managing your money and choosing smart investments that grow your nest egg. Finding the right financial advisor that fits your needs doesn’t have to be hard. SmartAsset’s free tool matches you with financial advisors in your area in 5 minutes. If you’re ready to be matched with local advisors that will help you achieve your financial goals, get started now.

Photo credit: Â©iStock.com/xavierarnau, ©iStock.com/Jacob Ammentorp Lund, ©iStock.com/amesy

The post The Average Salary of a Pilot appeared first on SmartAsset Blog.

Source: smartasset.com

Easy Ways to Increase Your Earning Potential Today

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Are you sick of feeling as though you always have more bills than income? Every month, you work hard to bring home a decent wage to support your family. Yet, somehow, when you need funds, there never seems to be anything available in your bank account. Sometimes, the problem might be that you’re struggling to manage your budget. Not knowing how to properly look after your money could mean that you spend too much, too fast. In other circumstances, your issue might be that you’re not taking advantage of opportunities to increase your earning potential. If you’re already doing everything you can to reduce excess spending and improve your financial habits, but you’re still facing money worries, then the following earning boosters could be just what you need. Let’s look at some quick and easy ways to turn your life around.

Consider a new job

All jobs have their pros and cons to consider. However, some roles definitely pay more than others. If you feel as though you’ve already gotten everything you can out of your current position, and there’s no room left to grow, a new role might be the best option. If you don’t want to switch away from the current company that you’re with, you could ask about switching to a different department. If there’s nowhere else for you to go in your current business, then it might be a good idea to see what someone can offer you elsewhere. Many people who switch jobs can take advantage of looking to improve earning potential than those that stick with the same role. Remember, if you do decide to switch to somewhere new, take your time to find something that actually appeals to you. Don’t just jump at the first offer you get. Play the field first.

Stick with learning about topics that you’re genuinely interested in. This will give you an opportunity to get a job in a space that you enjoy.

Improve your reputation

Reputation can make a big difference in your earning potential these days. In a world where we’re constantly connected to the internet, your image online might help you to find a new or higher-paying job. For instance, if you’re connected to the right people on LinkedIn, then you might speak to someone who can give a good word for you in a higher-paying department in your company. Start by auditing your existing personal brand online. See what people will find if they look for your name. If you have any unprofessional social accounts that are set to public, make them private immediately. Once you’re ready to begin building a name for yourself, look for opportunities to network and show off your skills. This could mean that you join some professional groups, comment on forums, or even visit local events from time to time.

Once you’re ready to begin building a name for yourself, look for opportunities to network and show off your skills.

Develop your skills

Sometimes, jobs will pay you a higher wage for a reason. A career that requires a specialist skill will often pay more than a basic entry-level job. With that in mind, it might be worth building on the talents that you already have. Think about the kind of things that you enjoy doing. Maybe you could work on something like coding or improving your technical expertise. The best way to boost your chances of getting your new skills recognized is to check out some student loans and head back to school. There are tons of different courses that you can take to add new certifications to your resume. You could also look into building out your knowledge about other topics online, taking free courses in your spare time. Stick with learning about topics that you’re genuinely interested in. This will give you an opportunity to get a job in a space that you enjoy.

Ask for a promotion

When’s the last time you just asked your boss whether they could pay you more? If you know that you’ve been delivering excellent work for a good while now, then it might be a good time to ask for a raise. Most business leaders won’t want to take the risk of losing an employee that’s valuable to the team. Check websites that list job openings and find out if there are any higher-paying companies out there that provide a better wage for the role you do now. This will give you a good starting point when you start asking for a wage. If you’re nervous, remember that hiring new team members comes with its own costs. If you’re a great employee, your boss would prefer to keep you around most of the time—even if that means paying more.

If you want to be able to pay your bills each month without worrying about your bank account, it’s worth keeping your mind open to ideas that could increase earning potential.

Start a side hustle

Finally, if you’ve already gone and built some new skills at school, but you haven’t found the perfect job to use them in yet, why not try creating your own career with a side hustle? This is basically a job that you can do on the side to add more income to your bank. Many people have discovered that they can put a few extra hours into their work online each day and make a hefty amount of additional income. Thanks to the gig economy, it’s easy to find opportunities to make cash with things like graphic design, content writing, website development, and more. Start by making a list of the kind of things you’d be interested in doing. You might even decide to create your own business and sell items online using a dropshipping company. Dropshipping services handle things like manufacturing and shipping products for you, so you just need to build a brand and find customers.

Increase your earning potential

Money might not make you happy, but it’s one of the most important things in many of our lives. If you want to be able to pay your bills each month without worrying about your bank account, it’s worth keeping your mind open to ideas that could increase earning potential. Whether you’re developing new cash opportunities with your current employer or thinking about becoming your own boss with a side hustle, make the conscious effort to invest in yourself this year. The quicker you start working on your new earning opportunities, the more money you’ll make for your future.

Source: quickanddirtytips.com