Steps to Getting A Financial Advisor in your 20s

Getting a financial advisor in your 20s is a responsible thing to do. At the every least, it means that you are serious about your finances. Finding one in your local area is not hard, especially with SmartAsset free matching tool, which can match you up to 3 financial advisors in under 5 minutes. However, you must also remember that a quality financial advisor does not come free. So, before deciding whether getting a financial advisor in your 20s makes financial sense, you first have to decide the cost to see a financial advisor.

What can a financial advisor do for you?

A financial advisor can help you set financial goals, such as saving for a house, getting married, buying a car, or retirement. They can help you avoid making costly mistakes, protect your assets, grow your savings, make more money, and help you feel more in control of your finances. So to help you get started, here are some of the steps you need to take before hiring one.

Need help with your money? Find a financial advisor near you with SmartAsset’s free matching tool.

1. Financial advice cost

What is the cost to see a financial advisor? For a lot of us, when we hear “financial advisors,” we automatically think that they only work with wealthy people or people with substantial assets. But financial advisors work with people with different financial positions. Granted they are not cheap, but a fee-only advisor will only charge you by the hour at a reasonable price – as little as $75 an hour.

Indeed, a normal rate for a fee-only advisor can be anywhere from $75 an hour $150 per hour. So, if you’re seriously thinking about getting a financial advisor in your 20s, a fee-only advisor is strongly recommended.

Good financial advisors can help you with your finance and maximize your savings. Take some time to shop around and choose a financial advisor that meets your specific needs.

2. Where to get financial advice?

Choosing a financial advisor is much like choosing a lawyer or a tax accountant. The most important thing is to shop around. So where to find the best financial advisors?

Finding a financial advisor you can trust, however, can be difficult. Given that there is a lot of information out there, it can be hard to determine which one will work in your best interest. Luckily, SmartAsset’s free matching tool has done the heavy lifting for you. Each of the financial advisor there, you with up to 3 financial advisors in your local area in just under 5 minutes.

3. Check them out

Once you are matched with a financial advisor, the next step is to do your own background on them. Again, SmartAsset’s free matching tool has already done that for you. But it doesn’t hurt to do your own digging. After all, it’s your money that’s on the line. You can check to see if their license are current. Check where they have worked, their qualifications, and training. Do they belong in any professional organizations? Have they published any articles recently?

Related: 5 Mistakes People Make When Hiring a Financial Advisor

4. Questions to ask your financial advisor

After you’re matched up with 3 financial advisors through SmartAsset’s free matching tool, the next step is to contact all three of them to interview them:

  • Experience: getting a financial advisor in your 20s means that you’re serious about your finances. So, you have to make sure you’re dealing with an experienced advisor — someone with experience on the kind of advice you’re seeking. For example, if you’re looking for advice on buying a house, they need to have experience on advising others on how to buy a house. So some good questions to ask are: Do you have the right experience to help me with my specific needs? Do you regularly advise people with the same situations? If not, you will need to find someone else.

5 Reasons You Need to Hire A Financial Consultant

  • Fees – as mentioned earlier, if you don’t have a lot of money and just started out, it’s best to work with a fee-only advisor. However, not all fee-only advisors are created equal; some charges more than others hourly. So a good question to ask is: how much will you charge me hourly?
  • Qualifications – asking whether they are qualified to advise is just important when considering getting a financial advisor in your 20s. So ask find about their educational background. Find out where they went to school, and what was their major. Are they also certified? Did they complete additional education? if so, in what field? Do they belong to any professional association? How often do they attend seminars, conferences in their field.
  • Their availability – Are they available when you need to consult with them? Do they respond to emails and phone calls in a timely manner? Do they explain financial topics to you in an easy-to-understand language?

If you’re satisfied with the answers to all of your questions, then you will feel more confident working with a financial advisor.

In sum, the key to getting a financial advisor in your 20s is to do your research so you don’t end up paying money for the wrong advice. You can find financial advisors in your area through SmartAsset’s Free matching tool.

  • Find a financial advisor – Use SmartAsset’s free matching tool to find a financial advisor in your area in less than 5 minutes. With free tool, you will get matched up to 3 financial advisors. All you have to do is to answer a few questions. Get started now.
  • You can also ask your friends and family for recommendations.
  • Follow our tips to find the best financial advisor for your needs.

Articles related to “getting a financial advisor in your 20s:”

  • How to Choose A Financial Advisor
  • 5 Signs You Need A Financial Advisor
  • 5 Mistakes People Make When Hiring A Financial Advisor

Thinking of getting financial advice in your 20s? Talk to the Right Financial Advisor.

You can talk to a financial advisor who can review your finances and help you reach your saving goals and get your debt under control. Find one who meets your needs with SmartAsset’s free financial advisor matching service. You answer a few questions and they match you with up to three financial advisors in your area. So, if you want help developing a plan to reach your financial goals, get started now.

The post Steps to Getting A Financial Advisor in your 20s appeared first on GrowthRapidly.

Source: growthrapidly.com

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

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:

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  • 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

New PUA Rules: Don’t Miss These Unemployment Deadlines

The second stimulus package is tightening the rules for millions of gig workers, independent contractors and self-employed workers receiving unemployment aid.

On Dec. 27, the $900 billion stimulus package extended Pandemic Unemployment Assistance, a critical benefits program for folks who don’t typically qualify for regular unemployment aid. The deal lengthened PUA benefits for at least 11 weeks, but it also created new filing rules that affect current recipients and new applicants alike.

Chief among the new rules: You will need to submit income documentation to your state’s unemployment agency if you are a gig worker or self-employed worker — or risk losing future benefits and having to return any benefits collected after Dec. 27.

“I think they are a real pain,” said Michele Evermore, an unemployment policy analyst for the National Employment Law Project, regarding the new PUA filing rules. “Not just for recipients, but for state agencies to collect. Every burden we add to state agencies slows benefit processing for everyone.”

The new requirements are intended to combat fraud. According to the Department of Labor, more than 7.4 million people are relying on PUA and are subject to the changes.

New Pandemic Unemployment Assistance Rules and Deadlines

The new deadlines established by the second stimulus package are different for current PUA recipients and new applicants.

As a current PUA recipient, you have until March 27 to submit income-related documents to prove your PUA eligibility. If you apply for PUA before Jan. 31, you also have until March 27.

If you apply for PUA Jan. 31 or later, you will have 21 days from the date of your application to submit income-related documents.

Need to apply? Our 50-state Pandemic Unemployment Assistance filing guide includes an interactive map and the latest information from the second stimulus deal.

The Department of Labor requires each state to notify you of your state-specific rules. Your state may have different deadlines. In that case, refer to your state’s instructions. The DOL is also leaving it to each state to determine exactly what documents are required to prove your eligibility.

Here are some examples of documents your state may ask you to file:

  • Tax forms such as 1099s and W-2s.
  • Ledgers, recent pay stubs and earnings statements from gig apps.
  • Recent bank statements showing direct deposits.

If you’re self-employed, you may be required to submit:

  • Federal or state income tax documents.
  • A business license.
  • A 1040 tax form along with a Schedule C, F, SE or K.
  • Additional records that prove you’re self employed, such as utility bills, rental agreements or checks.

If you’re qualifying for PUA because you were about to start a job but the offer was rescinded due to COVID-19 related reasons, you may be asked to submit an offer letter, details about the employer and other information related to the job to verify your claim.

Another new rule is that you will have to self-certify that you meet one or more of the following PUA eligibility requirements on a weekly basis:

  • You have been diagnosed with COVID-19 or have symptoms and are seeking diagnosis.
  • A member of your household has COVID-19.
  • You are taking care of someone with COVID-19.
  • You are caring for a child or other household member who can’t attend school or work because it is closed due to the pandemic.
  • You are quarantined by order of a doctor or health official.
  • You were scheduled to start employment and don’t have a job or can’t reach your workplace as a result of the pandemic.
  • You have become the breadwinner for a household because the head of household died due to COVID-19.
  • You had to quit your job as a direct result of COVID-19.
  • Your workplace is closed as a direct result of COVID-19.

Self-certification means that you swear the reason(s) you are on PUA is or are true at the risk of perjury. Previously, PUA applicants had to self-certify only once at the time of their initial application.

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Evermore says that since current PUA recipients weren’t asked to submit all this information when they were first approved, they might no longer have access to the requested documents.

“People who were told they don’t need documentation may have lost it, and this will create panic resulting in more stress on people who have already had an unimaginably bad year,” she said.

The good news, Evermore says, is that states have leniency to waive some of these requirements if you can demonstrate “good cause” for not being able to submit the requested documents. What’s considered “good cause” is also determined on a state-by-state basis.

“People who got approved for benefits in the past won’t necessarily get cut off from benefits simply because they are unable to produce the requested documentation,” Evermore said. “Just follow all of the agency’s instructions carefully.”

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

16 Good Jobs for Teens (Plus Business Ideas!)

If you’re a teen looking for a job (or a parent helping your teen find a job), you’re in luck! Most people know that 16-year-olds can work in a variety of stores and restaurants. However, some companies will hire teens as young as 15, and sometimes even as young as 14. We’ll share where you should look if you’re a teen looking for ways to earn your own cash.

Here are some of the more well-known jobs that employers hire 14 and 15-year-olds for.

Jobs for 15-year-olds

There are a few companies willing to hire teens as young as 14 or 15. We’ll focus on a few industries that hire 15-year-olds first.

Restaurant Worker

Fast food and casual restaurants often hire teens as young as 15. For instance, Boston Market is a casual restaurant chain with over 450 locations in the United States. Some of the job positions they might hire 15-year-olds for include busboy/busgirl jobs and cleaning crew.

Grocery Store Worker

Some grocery stores will hire 15-year-olds to work as a cashier or stock person. Hy-Vee is a national grocery store chain with nearly 250 locations in states such as Iowa, Minnesota, and Illinois.

Note that not all Hy-Vee stores hire 15-year-olds. Check with your local Hy-Vee location and talk with the manager there.

Movie Theater Worker

As a movie theater worker, you might sell tickets, take tickets, work in concessions or do theater cleanup. The AMC movie theater company has locations throughout the U.S and often hire teens as young as 15. As with Hy-Vee, locations are independently managed and many locations will hire 15-year-olds, however not all locations do.

Amusement Park Worker

Six Flags amusement parks and other amusement parks commonly hire teens as young as 15. There are a variety of job positions available such as park cleaner, store cashier, food service jobs and ride operators.

Check with your local Six Flags or other amusement parks to see what types of job positions are available for 15-year-olds.

Lifeguard

The American Red Cross lets teens as young as 15 get certified for service as a lifeguard. If you’re interested in this type of job, talk with hiring managers at local pools and beaches.

If they’re willing to hire a certified lifeguard at 15, get your certification through your local Red Cross or online.

Jobs for 14-year-olds

Some industries, although not many, hire 14-year-olds. There are a variety of restaurants and stores that hire 14-year-olds. Some of the jobs you might do in a restaurant at 14 include cleaning, cashiering, and food preparation.

The following restaurants often hire teens as young as 14. Note that the hiring age can vary by location.

  • Baskin Robbins
  • Ben and Jerry’s
  • Bruster’s Real Ice Cream
  • Chick-Fil-A
  • Culver’s
  • Dairy Queen
  • McDonald’s
  • Rita’s Italian Ice

Grocery stores also hire teens as young as 14 at times. Again, each location may vary on the hiring age based on management preference and state laws. But the following grocery stores have been known to hire 14-year-olds.

  • Giant Eagle
  • Giant Food
  • Kroger
  • Publix
  • Winn Dixie

If you want even more ideas for jobs for teens check out this list.

Not interested in working for a company? Try this next idea on for size.

Businesses you can start as a teenager

What if you want a job as a teenager but you want something different? How about starting your own business?

One of the keys to operating a successful business is to “underpromise and overdeliver.” In other words, do a better job than what you agreed to do and make the customer extra happy they hired you.

Here are some business ideas that anyone age 14 or up can start.

Tutoring

Are you smart in school subjects such as English, reading, math or science? How about working as a tutor for other students your age or younger?

Advertise your skills to parents of other children in your area, or on social media outlets. Set a rate of pay; most tutors charge by the half-hour or by the hour.

Continue reading at WalletHacks.com.

Source: quickanddirtytips.com

9 Ways to Support Small Businesses Without Breaking the Bank

We all have our favorite small businesses, including our go-to date night restaurant and favorite thrift store. These places serve more than great food and looks — they build jobs in the community, put children through school, and are the realization of your neighbor’s dream. 

These stores are built on hard work and love, and supply some of the best quality products you can find. Small businesses are a great sign of a thriving economy, but they’re also the first to suffer from economic downturns, like 2020’s COVID-19 recession. This is why it’s more important than ever to find ways to support your community’s businesses.

There are many reasons why small business success is vital. Not just for the economy but for our communities. That’s why Small Business Saturday (November 28) is one of our favorite times of the year, and why we collected these ways you can support small businesses without breaking the bank (or leaving the house!).

Shop Small Businesses

Shopping small is the easiest way to support community businesses and clear your holiday list. Shopping locally doesn’t have to drain your wallet, either.

Small businesses generate 44% of U.S. economic activity.

1. Skip the Hallmark Card and Support a Local Artist

Cards are a classic gift for any and all celebrations. They’re small, affordable, and easy to personalize. This year skip the grocery store and see what artists you can support while still getting beautiful and unique gifts for your family and friends. 

Most cities will have galleries, boutiques, and even tourist shops that display locally printed and designed cards to choose from. If you don’t have a shop near you, you can browse thousands of creators on Etsy to find the perfect design for each of your loved ones. 

2. Send Gift Cards

Gift cards are perfect for acquaintances, long-distance giving, and little acts of kindness every now and then. Instead of collecting Amazon and Starbucks cards, see what your local spots have to offer. 

Most restaurants and stores offer a gift card option, and you don’t have to waste the plastic! Send your gift via email to anyone, anywhere. So go ahead and thank your first mentor for their glowing reference with a gift card to their favorite coffee shop. 

3. Shop Throughout the Year

It’s true that handmade products can get pricey, but you’re ultimately paying for quality. If you’re already pinching pennies for the holiday season, start thinking about next year. Buying gifts for loved ones as you find them throughout the year is the best way to collect beautiful gifts without using credit. Plus, small businesses can use the boost year-round. 

Show Support From Home

Mockup showing someone fill in an instagram story template with favorite shops.

Download button for instagram story template.

Most of us have a budget that prevents us from buying a new wardrobe every month and eating out every weekday, so it just isn’t feasible to buy from all of our favorite local artisans all of the time. That doesn’t mean you don’t love them, you’ll just have to get creative to show your support from home. 

4. Share Your Favorite Products

When you do buy something new, take a photo! Sharing your favorite finds online and tagging the store is a great way to promote their products and quality to your friends and family. Even if you’re not buying, sharing a wishlist or their newest product could earn them another sale or new followers. 

“I think people forget that their voice has influence, whether they are a huge celebrity or a humble stay at home mom. It’s amazing just what one post can do for small business.” — Autumn Grant, The Kind Poppy

5. Write a Review

You should let the world know when you find a shop you love. From Google and Yelp to a company Facebook page, leave a review to let others know they’re in good hands. Positive reviews are some of the best tools businesses have to convert sales. 

“These types [local] of businesses live and die by word of mouth. Their reviews are everything to them. Now that everyone can look up the average rating of a business or service, it’s vital for businesses to collect positive, honest reviews.” — Dan Bailey, WikiLawn Lawn Care

If you do leave reviews, detailed thoughts and photos perform the best. These give the consumer plenty of information and help your review seem authentic. Plus, reviews can help platforms like Etsy and Google know the business is valued. 

6. Refer a Friend

Tell your friends when you find a new shop or service and share the love. Your friends trust you and likely have a lot of shared interests, so this word of mouth is a great way for businesses to earn customers. 

“A referral is the single best compliment to a business owner. Trust me.” — Brian Robben, Robben Media

If you have friends and family from out of town you may also want to keep your favorite businesses in mind for when they visit. Keep a list of local restaurants, cafes, services, and shops that they can’t get anywhere else and take your friends on a local tour. 

Keep in Touch

Businesses have more ways than ever to keep you in the know, so make sure you’re subscribed to keep in touch! Newsletters and social media are a good way to keep your local faves and their promotional offers top of mind. 

Mockup showing someone filling in their wishlist on instagram.

Download button for holiday wishlist instagram template.

7. Sign-up For Newsletters

Most businesses send regular emails to notify you and other customers of their store details and deals. Newsletters are great ways to find coupons, sales, and new items you’ll adore. Just subscribing isn’t enough, though. Make sure you actually read their news and whitelist the email so you never miss a thing. 

8. Follow and Interact With Their Social Channels

Social media is another easy way to stay in the know; it can also organically promote a business. When you follow a business, platforms learn more about who else may be interested in their offers. Stay active and like and comment on their posts, too, to increase their visibility and trust with other shoppers. 

9. Swing By the Shop

Ultimately, the best way to support a business is to stop by and visit. You never know when something will catch your eye, and it’s a great way to share your find with friends. You may also get the chance to talk with the owner and learn more about the business while sharing your support. 

“Drop a note to them of encouragement. Tell them why you love them and what they mean to you and the community…We’ve been absolutely floored when people have taken time out of their day to write us a note, telling us how much they like us/our product.” — Meaghan Tomas, Pinch Spice Market

No matter the product or service, small business owners will appreciate hearing that you love their shop and can benefit from your support. Tag a friend, buy a gift card, or write a review to help your favorite stores without busting your budget. 
Small Business Administration | G1ve 

The post 9 Ways to Support Small Businesses Without Breaking the Bank appeared first on MintLife Blog.

Source: mint.intuit.com

A September State of Mind

Hi friends. So sorry to go completely MIA on you. Between attempting online school with a five-year-old, much of California burning to the ground, and the general state total chaos in which we find ourselves, getting to the computer for any length of time has been a bit of challenge, to put it mildly. And then I blinked and summer is officially over.

But I had to finally get on here as I have big news for you!

They say you shouldn’t make major life decisions during times of extreme stress, right? Well, we decided to throw all caution to the wind and instead have purchased a coastal cottage in Washington State! Apparently a global pandemic, homeschooling a kindergartner and the most consequential presidential election of our lifetime wasn’t enough to keep me busy.

coastal cottage mood board on Apartment 34

In all seriousness, if the past seven months of Covid have taught us anything, it’s the importance of friends and family and so we decided to create a gathering place that can bring together those we love most for years to come. Nestled within the myriad of inlets and islands that dot the Puget Sound north of Seattle, the cottage enjoys sweeping views of the Olympic mountains and Hood Canal. I consider it my official respite from the impending doom. Sadly it looks nothing like the inspiration images I’ve collected here.

Instead, it is going to take a LOT of work to get our little coastal cottage visitor ready – and in a very short period of time. Over the coming weeks, I plan to take you along on the entire design journey. I will be sharing everything with you – from the cottage’s current state, to all of my design inspiration and through the remodel process. If all goes according to plan, I’ll share a major before and after reveal in time to spend the holiday season with our family rather than more than 800 miles away.

coastal cottage mood board on Apartment 34

Trust me, we’re going to have plenty to discuss, as I have to pick an entire household’s worth of things – from paint colors and kitchen cabinets down to dishware, bedding and everything in between. No design decision will be left unturned. It’s both exhilarating and incredibly daunting. These mood boards are just part my first ideation session for my dream vibe.

I’m hopeful sharing this process with you will offer you some fresh design ideas and positive inspiration as we all hunker down to weather what will undoubtedly be a stormy fall – be it literally or just politically. It’s been a rather dark year and I feel like this might be a way to share a little bit of light. I know I am very happy for the creative distraction. I hope you are too.

I can’t wait to share more very soon!

The post A September State of Mind appeared first on Apartment34.

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Source: apartment34.com

Popular Housing Markets During the Pandemic

There’s something weird happening with the real estate markets today. Normally in a recession, demand for rentals goes up while demand for houses goes down. But if there’s anything 2020 has taught us, it’s that everything is turned on its head right now. 

Instead, we’re seeing an interesting trend: despite the ongoing pandemic, home-buying is experiencing higher demand now than they have been since 1999, according to the National Association of RealtorsⓇ (NAR). If you’ve been hoping to buy a home soon, you’re probably already aware of this weird trend, and excited. But is it the same story everywhere? And is a pandemic really the right time to buy? 

How the Pandemic is Changing Homeownership

This pandemic is different from any other in history in that many people — especially some of the highest-paid workers — aren’t being hit as hard as people who rely on their manual labor for income. This, coupled with an ultra-low mortgage rate environment and a new lifestyle that’s not fit for a cramped apartment, is creating the perfect storm of high-dollar homebuyers. 

“I didn’t want to pay someone else’s mortgage to have three roommates,” says Amy Klegarth, a genomics specialist who recently purchased a home in White Center, a suburb of Seattle where she was formerly renting. “I moved because I could afford to get a house with a large yard here for my goats, Taco and Piper.” 

Whether you have goat kids or human kids (or even no kids), you’re not the only one looking for a new home in a roomier locale. According to the NAR report, home sales in suburban areas went up 7% compared to just before the pandemic started. In some markets, it’s not hard to understand why people are moving out. 

Where Are People Going?

Apartments are small everywhere, but they’re not all the same price. For example, homes in cities tend to be 300 square feet smaller than their suburban counterparts. Some of the hottest home-buying markets right now are in areas where nearby rents are already too high, often clustered around tech and finance hubs that attract high-paid workers. After all, if you can’t go into the office and all of the normal city attractions are shut down, what’s the point of paying those high rental costs?

According to a December 2020 Zumper report, the top five most expensive rental markets in the U.S. are San Francisco, New York City, Boston, San Jose, and Oakland. But if you’re ready to buy a home during the pandemic, there are nearby cheaper markets to consider.

If You Rent in San Francisco,  San Jose, and Oakland, CA

Alternative home-buying market: San Diego, Sacramento 

  • Average rent: San Francisco, $2,700, San Jose, $2,090; Oakland; $2,000
  • Average home value (as of writing): San Diego ($675,496) and Sacramento ($370,271)
  • Estimated mortgage payment with 20% down: San Diego ($2,255) and Sacramento ($1,236)

Big California cities are the quintessential meccas for tech workers, and that’s often exactly who’s booking it out of these high-priced areas right now. Gay Cororaton, Director of Housing and Commercial Research for the National Association of Realtors (NAR), offers two suggestions for San Francisco and other similar cities in California. 

San Diego

First, is the San Diego-metro area, which has a lot to offer people who are used to big-city living but don’t want the big-city prices. An added bonus: your odds of staying employed as a tech worker might be even higher in this city. 

“Professional tech services jobs make up 18% of the total payroll employment, which is actually a higher fraction than San Jose (15.5%) and San Francisco (9.3%),” says Cororaton.

Sacramento

If you’re willing to go inland, you can find even cheaper prices yet in Sacramento. “Tech jobs have been growing, and account for 7% of the workforce,” says Cororaton. “Still not as techie as San Jose, San Francisco, or San Diego, but tech jobs are moving there where housing is more affordable. It’s also just 2 hours away from Lake Tahoe.”

If You Rent in New York, NY

Alternative home-buying market: New Rochelle, Yonkers, Nassau, Newark, Jersey City

  • Average rent: $2,470
  • Average home value (as of writing): New Rochelle ($652,995), Yonkers ($549,387), Nassau ($585,741), Newark ($320,303), or Jersey City ($541,271)
  • Estimated mortgage payment with 20% down: New Rochelle ($2,180), Yonkers ($1,834), Nassau ($1,955), Newark ($1,069), or Jersey City ($1,807)

Living in New York City, it might seem like you don’t have any good options. But the good news is you do — lots of them, in fact. They still might be more expensive than the average home price across the U.S., but these alternative markets are still a lot more affordable than within, say, Manhattan. 

New Rochelle and Yonkers

Both New Rochelle and Yonkers are about an hour’s drive from the heart of New York City, says Corcoran. If you ride by train, it’s a half hour. Both New Rochelle and Yonkers have been stepping up their appeal in recent years to attract millennials who can’t afford city-living anymore (or don’t want to be “house poor”), so you’ll be in good company. 

Nassau

“NAR ranked Nassau as one of the top places to work from home in the state of New York because it has already a large population of workers in professional and business services and has good broadband access,” says Cororaton. If you have ideas about moving to Nassau you’ll need to move quickly. Home sales are up by 60% this year compared to pre-pandemic times. 

Newark or Jersey City

If you don’t mind moving to a different state (even if it is a neighbor), you can find even lower real estate prices in New Jersey. This might be a good option if you only need to ride back into the city on occasion because while the PATH train is well-developed, it’s a bit longer of a ride, especially if you live further out in New Jersey. 

If You Rent in Boston, MA

Alternative home-buying market: Quincy, Framingham, Worcester

  • Average rent: $2,150
  • Average home value (as of writing): Quincy ($517,135), Framingham ($460,584), or Worcester ($284,936)
  • Estimated mortgage payment with 20% down: Quincy ($1,726), Framingham ($1,538), or Worcester ($951)

Boston is another elite coastal market, but unlike New York, there’s still plenty of space if you head south or even inland. In particular, Quincy and Framingam still offer plenty of deals for new buyers.

Quincy

If you like your suburbs a bit more on the urban side, consider Quincy. Although it’s technically outside of the city, it’s also not so isolated that you’ll feel like you’re missing out on the best parts of Boston-living. You’ll be in good company too, as there are plenty of other folks living here who want to avoid the high real estate prices within Boston itself.

Framingham

Framingham is undergoing an active revitalization right now in an effort to attract more people to its community. As such, you’ll be welcome in this town that’s only a 30-minute drive from Boston.

Worcester

“Now, if you can work from home, consider Worcester,” says Cororaton. “It’s an hour away from Boston which is not too bad if you only have to go to the Boston office, say, twice a week.” Worcester (pronounced “wuh-ster”) is also a great place for a midday break if you work from home, with over 60 city parks to choose from for a stroll.

Renting Market(s) Average Rent for 1-Bedroom Apartment Housing Market Options & Avg. Monthly Mortgage*
San Francisco, CASan Jose, CAOakland, CA $2,700 San Diego ($2,255) Sacramento ($1,236)
New York, NY $2,470 New Rochelle ($2,180) Yonkers ($1,834)Nassau ($1,955)Newark ($1,069)Jersey City ($1,807)
Boston, MA $2,150 Quincy ($1,726)Framingham ($1,538)Worcester ($951)

*Average home mortgage estimates based on a 20% down payment.

Should You Buy a House During a Pandemic?

There’s no right or wrong answer here, but it’s a good idea to consider your long-term housing needs versus just what’ll get you through the next few months. 

For example, just about everyone would enjoy some more room in their homes to stretch right now. But if you’re the type of person who prefers a night on the town, you might be miserable in a rural area by the time things get back to normal. But if you’ve always dreamed of a big vegetable garden or yard for the family dog, now could be the right time to launch those plans. 

Another factor to consider is job security. And remember that even if you’re permanently working from home today — and not everyone has this ability — living further from the city could limit your future opportunities if a job requires you to be on-site in the city.

Finally, consider this: most homes in outlying areas weren’t built with the pandemic in mind. For example, “… open floor plans were popular, pre-pandemic,” says Cororaton. “If the home for sale has an open floor plan, you’d have to imagine how to reconfigure the space and do some remodeling to create that work or school area.” 

Here are some other things to look for:

  • Outdoor space
  • Area for homeschooling
  • Broadband internet access
  • Proximity to transport routes
  • Office for working from home

Is It More Affordable to Buy or Rent?

There aren’t any hard-and-fast rules when it comes to whether it’s cheaper to rent or buy. Each of these choices has associated costs. To rent, you’ll need to pay for your base rent, pet fees and rent, parking permits, deposits, renters insurance, and more. To buy, you’ll have an even bigger list, including property taxes, maintenance and upgrades, HOA fees, homeowners insurance, closing costs, higher utility bills, and on.

Each of these factors has the potential to tip the balance in favor of buying or renting. That’s why it makes sense to use a buy vs. rent calculator that can track all of these moving targets and estimate which one is better based on your financial situation and the choices available to you. 

In general, though, most experts advise keeping your housing costs to below 30 percent of your take-home pay when setting up your budget. The lower, the better — then, you’ll have even more money left over to save for retirement, your kid’s college education, and even to pay your mortgage off early. 

The post Popular Housing Markets During the Pandemic appeared first on Good Financial Cents®.

Source: goodfinancialcents.com

What’s the Difference Between 401(k) and 403(b) Retirement Plans?

Investing in your retirement early is the best way to ensure financial stability as you age, especially when it comes to understanding various retirement options. Getting started may feel overwhelming — luckily we’re here to help. We help break down the difference between 401(k) and 403(b) accounts, and how they can impact your financial life.

You may already know the value in adjusting your budget to make saving for a rainy day a priority. But are you also prioritizing your retirement savings? If you’re just getting started in the workforce and looking for ways to invest in yourself, 401(k) and 403(b) plans are great options to know about. And, the main difference between a 401(k) and a 403(b) is the company who’s offering them.

401(k) accounts are offered by for-profit companies and 403(b) accounts are offered by nonprofit, scientific, religious, research, or university companies. To understand the similarities and differences between plans in depth, skip to the sections below or keep reading for an in-depth explanation.

How a 401(k) Works
How a 403(b) Works
The Difference Between 401(k) and 403(b)
The Similarities Between 401(k) and 403(b)
5 Ways to Grow Your Retirement Savings
What is a 401(k) and 403(b)
$19,500 with your employer matches. Plus, most retirement funds have required minimum distributions (RMDs) by the time you turn 70. This essentially means you have to take a minimum amount of money out each month whether you want to or not.

In most cases, employers will offer 401(k) matching to encourage consistent contributions. For example, your employer match may be 50 cents of every dollar you contribute up to six percent of your salary. For example, with this employer match on a $40,000 salary, you would contribute $200 and your employer would contribute an additional $100 each month. This pattern would continue until your annual contributions hit $2,400 and your employer contributes $1,200.

Employee matching is essentially free money. You’re monetarily rewarded for your retirement payments. Be sure to pay attention to vesting periods when setting up your employer match. Vesting periods are an agreed amount of time you need to work at a company before you receive your 401(k) benefits. For example, some companies may require you to work for their team for a year before earning retirement benefits. Other employers may offer retirement benefits starting the day you start working with them.
403(b) accounts include school boards, public schools, churches, hospitals, and more. This type of account is also known as a tax-sheltered annuity plan — they allow pre-tax income to be invested until taken out.

Employers that offer 403(b) retirement plans may offer a pool of provider options that undergo nondiscrimination testing. This allows employers that qualify for this account to shop around for plans that offer the best benefits and don’t discriminate in favor of highly compensated employees (HCEs). For instance, some 403(b) accounts may charge more administrative fees than others.

Employers are able to offer employee matching on 403(b) accounts if they decide to. To cut costs for nonprofit companies, 403(b) retirement plans generally cost less than 401(k) accounts. Costs associated with starting up these accounts may not affect you, but it may affect your employer.

Account Type 401(k) 403(b)
Yearly Contribution Limit $19,500 $19,500
Employer-Issued Packages For-profit employers:
Corporations, private establishments, etc. and sole proprietors
Non-profit, scientific, religious, research, or university employers:
School boards, public schools, hospitals, etc.
Minimum Withdrawal Age 59.5 years old 59.5 years old
Early Withdrawal Fees 10% penalty, tax, and additional fees may vary 10% penalty, tax, and additional fees may vary
Source: IRS.org

 

The Differences Between 401(k) and 403(b)

Both a 401(k) and 403(b) are similar in the way they operate, but they do have a few differences. Here are the biggest contrasts to be aware of:

  • Eligibility: 401(k) retirement plans are issued by for-profit employers and the self employed, 403(b) retirement plans are for tax-exempt, non-profit, scientific, religious, research, or university employees. As well as Hospitals and Charities.
  • Investment options: 401(k)s offer more investment opportunities than 403(b)s. 401(k) accounts may include mutual funds, annuities, stocks, and bonds, while 403(b) accounts only offer annuities and mutual funds. Each employer varies in retirement benefits — reach out to a trusted financial advisor if you have questions about your account.
  • Employer expenses: 401(k) accounts are generally more expensive than 403(b) accounts. For-profit 401(k) accounts may pay sales charges, management fees, recordkeeping, and other additional expenses. 403(b) plans may have lower administrative costs to avoid adding a burden for non-profit establishments. These costs vary depending on the employer.
  • Nondiscrimination testing: This form of testing ensures that 403(b) retirement plans are not offered in favor of highly compensated employees (HCEs). However, 401(k) plans do not require this test.

 

The Similarities Between 401(k) and 403(b)

Aside from their differences, both accounts are set up to aid employees in retirement savings. Here’s how:

  • Contribution limits: Both accounts cap your annual contributions at $19,500. In the event you contribute over this limit, your earnings will be distributed back to you by April 15th. If you’re under your retirement contributions by the time you’re 50 years old, you’re allowed to make catch-up contributions. This means that, if you’re eligible, you can contribute $6,500 more than the yearly contribution limit.
  • Withdrawal eligibility: You must be at least 59.5 years old before withdrawing your retirement savings. In the case of an emergency, you may be eligible for early withdrawal. However, you may be charged penalties, taxes, and fees for doing so.
  • Employer matching: Both retirement account options allow employers to match your contributions, but are not required to. When starting your retirement fund, ask your HR representative about potential benefits and employer matching.
  • Early withdrawal penalties: If you choose to withdraw your retirement savings early, you may be penalized. In most cases, you need a valid reason to withdraw your funds early. Eligible reasons may include outstanding debt, bankruptcy, foreclosure, or medical bills. In addition, you may be charged a 10 percent penalty fee, taxes, and other fees. During a downturned economy, as we’ve seen with the COVID-19 pandemic, fees may be waived.

5 Ways to Grow Your Retirement Savings
retirement plan options and their benefits. When employers offer retirement matches, consider contributing as much as you can to meet their match.

2. Set up Monthly Automatic Contributions

Save time and energy by setting up automatic contributions. You may feel less interested in contributing to your retirement as your payday approaches. Taking time to set up a retirement fund and budgeting for this change may be holding you back. To meet your retirement goals, consider setting up automatic payments through your employer. After a while, you may not even notice the slight budget adjustment.

3. Leverage Employer Matching

Employer matching is essentially free money. Employers may put money towards your future for nothing but your own contribution. This encourages employees to consistently put money towards their retirement savings. Not only are you able to earn extra money each month, but this “free money” will grow with interest over time. If you can, match your employer’s contribution percentage, if not more.

4. Avoid Early Withdrawal

Credit card balances, student loans, and mortgages can be stressful. Instead of withdrawing early from your retirement fund to pay for these, consider other debt payoff methods. If you’re eligible to withdraw from your retirement early, you may face penalty fees, taxes, and administrative expenses. This may hinder your savings potential or push back your desired retirement date.

5. Contribute Your Future Raises and Bonuses

If you’re saving less than $19,500 to your retirement fund this year, consider contributing more. If you earn a bonus or a raise, stick to your current budget and consider increasing your contributions. Ask your employer to increase your retirement payments right before you receive a bonus or raise. The more you contribute, the more interest you’ll accrue over time.

Whether your retirement funds are established through a 401(k) or a 403(b), these accounts offer you the chance to build your financial portfolio. Consistently funding your retirement account may better your financial plan and set you at ease. As your contributions age, so do your interest earnings. You’ll be able to make money on your pre-taxed income and set your future self up for success. Get started by checking in on your budget and carving out a specific amount to put towards your retirement each month.

The post What’s the Difference Between 401(k) and 403(b) Retirement Plans? appeared first on MintLife Blog.

Source: mint.intuit.com