Opinions expressed by Entrepreneur contributors are their own.
These days, something very interesting is happening in the world of online entrepreneurship.
More and more people are choosing to build their businesses completely on their own. They are called solopreneurs — motivated individuals who focus on managing every part of their business alone.
What separates solopreneurs from traditional entrepreneurs is that they purposefully choose to stay lean and independent while still aiming to grow and make a real impact, whereas entrepreneurs often build teams.
According to what I’ve seen on Google Trends, the number of searches for the term “solopreneur” has increased in the last five years alone. The biggest increase occurs in entrepreneurial hotspots across North America, Europe and Asia.
So, what’s the reason for this?
A couple of things: people have become accustomed to remote work — it’s the new norm, and unconventional career paths are more accepted by society. Besides, powerful digital tools are more accessible and make running a business much easier.
However, the reality is that solopreneurship isn’t exactly all freedom and flexibility. Running your own business comes with its own set of challenges that you don’t face in traditional jobs or when building a startup with a team. Understanding and overcoming these challenges is the key to thriving as a solopreneur.
Inside every business, there are a lot of moving parts — marketing, sales, finances, customer service and many other operations.
For solopreneurs, all of these tasks fall on just one person’s shoulders. One day you’re the support agent, the next you’re writing social media posts or sending invoices… the list goes on.
The tricky part isn’t the work itself — it’s the non-stop switching between fundamentally different tasks. This can lead to a loss of focus, energy and, over time, to decision fatigue, where even the small choices start feeling exhausting.
How to make it easier
Here are some tips to lighten the load and work smarter:
Group similar tasks together – for example, handle all the financial tasks on Monday morning instead of scattering them throughout the week.
Start small with outsourcing – no need to hire a full-time team. Begin outsourcing your most time-consuming tasks or the ones you feel you’re the weakest at.
Write things down – start simple checklists for recurring tasks to reduce mental load.
Implement the right tools – adapt software programs that allow you to cut down on repetitive work (email management, invoicing, scheduling, etc.)
When you offload some of these roles, you can start focusing on the work that really matters – growing your business and providing your customers with top-quality service.
2. The isolation factor
Let’s be real — humans are social creatures, and working by yourself can make you feel lonely.
With a traditional job, you’ve got colleagues to chat with, team meetings to discuss your ideas, and even those coffee chats that can break up the day.
And while some enjoy the quiet, too much of it can take a heavy toll. Without those human interactions, you can lose motivation, creativity, and it can even negatively impact your mental health.
How to stay on top
The good news is that you don’t have to face solopreneurship alone. Here’s how you can bring people back into your work life:
Network and connect – join groups and online communities where other solopreneurs share their experiences.
Set up co-working sessions – find an “accountability partner”, either virtual, at a café, or a co-working space, to make it more fun.
Develop and learn – attend conferences and networking events to meet people who “get it.”
Seek out a mentor – they can guide you and share their knowledge with you.
The key thing to remember: running a business by yourself doesn’t mean doing everything solo. Finding like-minded individuals can keep you motivated, inspired and less isolated.
3. Financial instability
Unlike employees with salaries, one of the toughest challenges for solopreneurs is money management.
As a solopreneur, your income can swing up and down depending on the season, clients or just random luck. One month, you can be stressing over what bill to pay, the next, you’re on top of the world.
This financial rollercoaster won’t just affect your bank account — it can also cloud your judgment. Some solopreneurs may take big risks when money starts flowing in, while others may become very cautious, holding back on extra expenses that can even help them grow.
How to create stability
The important thing is to smooth out the ups and downs as much as possible. Here’s how you can do that:
Diversify your income — don’t put all your eggs in one basket, develop multiple income streams to spread out the risk
Create recurring revenue — structure your offerings to include retainer agreements or subscription models to keep money coming in more predictably.
Create financial buffers — try to build an emergency fund to cover unexpected expenses or income gaps.
When you successfully implement these systems, the financial stress becomes much more manageable and understandable.
When we talk about solopreneurship, one of the biggest perks is being your own boss — you set your own schedule, no one tells you what to do, no 9-to-5 – sounds perfect.
But on the flip side, without a proper structure, it’s easy to get lost in your work or not work nearly enough.
Both can hurt your business and even you.
The key is to create a rhythm that gives you focus without creating that feeling like you’re back in a corporate cubicle.
How to manage your time better
Here are some practical strategies that can help:
Work with your natural energy – keep track of when you feel most creative and energized, and schedule your most important tasks for then.
Create themed workdays – set up your days for different business functions. For example, Mondays for finances, Tuesdays for marketing, Wednesdays for client operations, etc.
Use time blocks – set aside chunks of time, but add short breaks in between so you don’t burn out.
Think in 90-day sprints – don’t try to do everything at once, select a few key priorities every quarter, and move in that direction.
By implementing a structure, you can stay productive without feeling like you’re trapped by your work. It’s all about balance – become disciplined to get things done, and have enough flexibility to enjoy the freedom of being your own boss.
Managing a business solo means you’re constantly challenging yourself — acquiring new skills, facing new risks, gaining new responsibilities. With that comes something that every solopreneur faces: self-doubt.
You start to question yourself, “Why am I doing this?”, “Am I good enough?”, “What was I even thinking when jumping into this…”and so on.
The truth is, mental hurdles can be even tougher than practical challenges. But confidence isn’t about never doubting yourself – it’s about creating ways to push through when doubt shows up.
How to build up your confidence
Here are a few ways to keep your mind sharp and ready:
Record your wins – keep track of the skills you’ve gained, projects you’ve completed, and positive feedback from your clients. Seeing it in writing is a powerful reminder to keep going.
Level up gradually – take on slightly bigger challenges step-by-step. Each win is proof that you’re heading in the right direction.
Remember that a slight setback doesn’t mean you’re incompetent – it just means that you need to tweak the process a bit to get back on the right track.
Confidence isn’t something that you have or don’t have. It’s all about how you overcome the challenges that you face.
As technology continues to improve and work culture continues to evolve toward more flexible solutions, more and more professionals will find “going solo” isn’t just possible but practical in various industries.
The solopreneurs who will truly succeed in their endeavors will:
Recognize the key challenges that come with starting a one-person business
Implement strategic solutions that fit their unique scenarios
Stay flexible and adapt as their business grows
The solopreneur path isn’t about building that “perfect balance”.
Instead, it’s about finding solutions that make the tough parts manageable. With the right approach, solopreneurs can create businesses that are not only profitable but also personally fulfilling.
At its core, solopreneurship is about choosing your own way, creating your own terms, and finding success that’s meaningful to you. You will be rewarded with freedom, creativity, independence and the joy of building something that’s truly your own.
Opinions expressed by Entrepreneur contributors are their own.
In recent years, the labor market has witnessed a profound transformation, called the “Great Resignation,” where record numbers of employees left their jobs in search of something more fulfilling. Many individuals now choose the path of freelancing and independent work over traditional employment. This shift is largely fueled by a quest for flexibility, autonomy and the pursuit of work that resonates on a personal level.
Technology has played a pivotal role in this transition, making it easier than ever for individuals to find freelance work, manage projects and communicate with clients from anywhere in the world. This digital revolution, combined with a growing cultural emphasis on work-life balance and meaningful employment, has made the freelance lifestyle more attractive and feasible.
However, the allure of independence doesn’t just hinge on being one’s own boss or setting one’s hours. Many are drawn to freelance work because of the severe mismatches they perceive in traditional job environments, which often lack flexibility, fail to offer compelling career paths or neglect to align with modern values like sustainability and inclusivity.
Strategies to attract independent talent back to traditional work
As the landscape of work undergoes its most significant transformation in decades, traditional businesses must innovate not just to survive but to thrive. Here are several strategies that can help re-attract independent workers:
1. Flexibility and autonomy: One of the most cherished aspects of freelance life is the ability to control one’s schedule and work environment. Traditional companies can appeal to this need by offering flexible working arrangements. This might include options for remote work, flexible hours and results-oriented performance metrics instead of strict clocking in and out. For example, a tech company could implement a “results-only work environment” (ROWE) where employees are judged solely on their output and not when or where they complete their work.
2. Project-based roles: Many freelancers enjoy the diversity of working on different projects, which keeps their daily routines dynamic and engaging. Companies can capture this interest by creating project-based roles or temporary positions that allow workers to contribute to specific initiatives with a clear end date. This approach not only satisfies the worker’s need for variety but also gives companies the flexibility to scale labor up or down based on current needs.
3. Cultural alignment and values: Modern workers, particularly millennials and Gen Z, are increasingly drawn to companies that reflect their personal values. Businesses that prioritize sustainability, diversity, equity and inclusion are more likely to attract independent talent who are looking for more than just a paycheck. Publicizing initiatives and real impacts in these areas can make a traditional employment setting more appealing. For instance, a company might highlight its commitment to reducing carbon emissions or its active role in supporting local communities.
4. Professional development and career growth: Freelancers often invest in their own skill development to stay competitive. Companies that offer robust training programs, regular workshops and opportunities for career advancement can draw independents back into the fold. Highlighting a commitment to employee growth can assure potential hires that they will not stagnate but continue to develop professionally. An organization might, for example, offer an annual stipend for employees to attend conferences or take courses relevant to their jobs.
The integration of independent talent back into traditional companies offers substantial benefits to both parties:
Increased innovation and creativity: Independent workers often bring fresh perspectives and innovative ideas gained from diverse project experiences. By incorporating these freelancers into their workforce, companies can foster a more creative environment, driving innovation. For instance, Google has leveraged independent contractors for various projects to inject new ideas and approaches, which has often led to breakthroughs in technology and user experience.
Flexibility and scalability: The ability to scale workforce capabilities up or down depending on project demands is a significant advantage for companies facing fluctuating market conditions. Freelancers provide a flexible labor pool that can be tapped into as needed, reducing the overhead associated with permanent staff while still meeting business goals.
Diversity of thought and skills: Freelancers typically work across a range of industries and disciplines, bringing a wealth of diverse skills and viewpoints that can enhance problem-solving and decision-making within traditional firms. This diversity can lead to better outcomes and a more resilient business model.
Enhanced employee satisfaction and retention: By adopting flexible work policies and valuing professional growth, companies can improve overall job satisfaction among all employees, not just freelancers. This can lead to higher retention rates and a more engaged workforce.
As the fabric of the workforce evolves into a mosaic of traditional employment, freelancing and independent contracting, businesses stand at a pivotal crossroads. The phenomenon known as the “Great Resignation” signifies a deeper, underlying shift — a redefinition of what it means to work and to be fulfilled by one’s labor. This is not just a trend but a transformation in the ethos of work itself, driven by a generation that seeks purpose, autonomy and flexibility.
Adapting to this new reality requires more than superficial changes; it demands a fundamental rethink of how businesses structure work, engage with employees and define their corporate culture. Strategies like enhancing workplace flexibility, embracing project-based roles, aligning organizational values with those of a changing workforce and fostering continuous professional development are vital. Yet, they are merely the starting point of a broader dialogue about work in the 21st century.
As business leaders, it is imperative to challenge the status quo and critically assess whether your current practices meet the needs of a diverse and evolving workforce. Engage in conversations with both your teams and independent professionals to understand their perspectives and needs. Implementing the discussed strategies should not be seen as a checklist to complete but as part of a larger, ongoing process of organizational transformation.
Explore collaborative models that benefit both your company and the independent talent. Such models should not only attract but also sustain a relationship that nurtures mutual growth, innovation and respect. The future of work isn’t about choosing between traditional and independent paths but about creating an ecosystem where both can thrive together.
Opinions expressed by Entrepreneur contributors are their own.
As business operations shift, executives and entrepreneurs are increasingly turning to an on-demand workforce that is simultaneously empowered by technology and drawn to purpose-driven projects.
Consider Upwork, whose 2020 Future of Workforce Pulse Report revealed that nearly 80% of hiring managers engaging freelancers feel confident about doing so. These hires provide coveted expertise — on a project-to-project basis — that entrepreneurs need to scale their operations without incurring long-term overhead costs.
This new market paradigm also promotes dynamism, with 79% of businesses agreeing that freelance talent enables greater innovativeness. Perhaps most telling, 84% of hiring managers utilizing it feel more assured about adapting to future disruption, compared to just 69% of those relying solely on full-time staff.
By capitalizing on freelance marketplaces, entrepreneurs can amplify employer branding, augment capabilities and future-proof organizations, even amid turbulence. As nearly 60% of hiring managers plan to increase engagement with freelancers over the next two years, the time is now for executives to realize their inherent potential.
After a season of massive hiring, we’re back to seeing layoffs and downsizing. Companies are feeling the bloat—from unused office spaces with rising rent to oversized employee structures — and are shifting focus to hiring only the most essential positions. This leaves a critical talent gap needed for complex projects and specialized tasks. Highly skilled and specialized independents can fill this void.
A few key benefits to engaging them:
• Access to niche experts: Platforms like Toptal and Guru provide access to elite professionals from leading Fortune 500 companies and innovative startups. Whether the need is for a machine learning specialist, growth strategist or financial modeler, entrepreneurs can now curate on-demand teams that boast specialized skillsets, enabling them to focus investment on projects with the highest strategic value.
• Enhanced agility: Leading corporations increasingly “rent” skills by tapping freelance experts for initiatives involving new technologies or while entering unfamiliar markets. With niche contributors available to plug knowledge gaps, owners can explore ideas that once seemed unrealistic due to internal constraints—unlocking inventiveness and first-mover advantage.
• Stronger employment brand: Blending full-time employees with project-based freelancers signals a commitment to modernization and work-life balance. Offering both engaging work and flexibility will help draw exceptional candidates and help you compete with corporate giants for top-tier talent.
Having explored the forces reshaping work, executives may wonder how to effectively leverage freelance platforms. After all, how can you know you’re getting your money’s worth if a hire isn’t physically present full-time?
• Define projects clearly: Contract hires thrive when expectations and deadlines are established upfront. So, clearly, detail needs around deliverables, success metrics, required skills and projected time investments. Staying ahead when it comes to communication and expectations will help avoid headaches, including delays.
• Build loyalty with talent: The best independent professionals have options regarding the projects they accept. Study their profiles to discern passions and incentives. Offer interesting work, flexibility and strong communication to motivate interest and improve results.
• Manage collaboration: Provide steady context, feedback and guidance at each project stage, but also foster autonomy, even while directing efforts toward strategic goals. A dynamic balance of these qualities drives optimal outcomes.
• Continue expanding your talent pool: Add proven freelancers to an internal database for repeat engagements, and notify talent about new initiatives for which their expertise would provide an edge. Uncovering additional ways, freelancers can enhance the business deepens the relationship.
Now comes the hard part: finding contractors who bring fractional expertise sets. There are a growing number of platforms, of course, but I’ve found that the following stand out as leaders:
Fiverr: Ideal for execs seeking design, digital marketing, writing, video and admin support. Known for affordability and ease of posting jobs. It taps a global talent pool, too.
Upwork: A flexible platform that spans more than 150 skills. Used by everyone from small businesses to global enterprises. Strong at IT, development, design, finance and consulting.
Toptal: Focuses exclusively on the top 3% of talent. Best for expert software developers, designers, project managers and finance experts. All contributors are extensively vetted.
Contra: A growing independent platform that vets and connects both job candidates and hiring companies. Best of all, it doesn’t take a commission from projects.
The numbers speak for themselves: businesses engaging freelance professionals report greater confidence and competitiveness, as well as the ability to withstand turbulence, yet legacy beliefs can still cause hesitancy among those keen to hire. Supported by such specialized collaborators, companies can explore new horizons unencumbered by a one-time narrow view of staffing models.
Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners.
In the dynamic landscape of entrepreneurship, adapting and scaling are imperative. A crucial element in this journey involves forming a team of top-tier professionals capable of transforming vision into reality. Upwork stands as a catalyst for entrepreneurial growth, offering access to unparalleled talent and cultivating an environment conducive to business flourishing.
The Global Talent Hub
At the core of Upwork’s appeal lies its expansive Talent Marketplace, featuring a diverse array of skills and expertise. Serving as a global talent hub, Upwork connects individuals navigating the intricate business landscape with top-tier freelancers skilled in Customer Support, design, marketing, AI and cutting-edge technology. This diversity empowers entrepreneurs & business owners to curate a team tailored to the unique demands of their projects, providing a competitive edge in the ever-evolving business terrain.
Agility Through Efficiency
In the fast-paced entrepreneurial world, success often hinges on speed. Upwork revolutionizes the hiring process, enabling users to post a job today and receive quality proposals from top-tier freelancers as early as tomorrow. This efficiency is transformative, allowing people to rapidly assemble teams and initiate projects without the delays associated with traditional hiring processes.
Trust and Transparency
Trust is fundamental to successful collaborations, and Upwork places a premium on transparency. Clients can explore verified work histories, gaining insights into the professional backgrounds of potential collaborators. Peer reviews offer a real-world perspective, providing glimpses into freelancers’ track records. This emphasis on trust ensures that Upwork’s clients can make informed decisions when selecting freelancers, laying the foundation for strong partnerships.
Precision in Talent Acquisition
Upwork empowers their clients to fine-tune their talent acquisition process with advanced search filters. The platform’s intuitive interface enables users to navigate a vast pool of freelancers, filtering based on skills, experience, and other crucial criteria. This precision allows entrepreneurs to assemble a team with the exact expertise required for their projects, eliminating the guesswork often associated with traditional hiring.
Collaboration Beyond Boundaries
More than a transactional platform, Upwork fosters collaboration without geographical constraints. The platform’s collaboration tools establish a virtual workspace where clients and freelancers interact seamlessly. Communication is streamlined, milestones are tracked, and ideas flow freely. This borderless collaboration not only expands the talent pool but also injects diverse perspectives into projects, fueling innovation and creativity.
Upwork’s role as a catalyst for entrepreneurial growth is evident through its provision of access to unparalleled talent and the cultivation of a collaborative environment. Entrepreneurs leveraging Upwork find themselves equipped with the agility to swiftly navigate the business landscape, the trust and transparency necessary for fruitful collaborations, and the precision to assemble teams tailored to their project’s exact requirements. Upwork transcends being a mere platform; it is a dynamic partner in the journey of entrepreneurial success, where innovation knows no boundaries.
The world of freelancing offers a tremendous opportunity for individuals to earn money online, allowing them to showcase their talents and expertise to a vast audience. With the rise of online platforms connecting freelancers and clients, the traditional workplace boundaries have blurred, empowering freelancers to work on diverse projects from the comfort of their homes.
These opportunities not only provide financial independence but also foster a global community of skilled professionals. As technology continues to advance, the landscape of online freelancing is expected to expand, creating even more avenues for freelancers to thrive and succeed in the digital age.
Here are five freelance websites for freelancers based on my personal experience
1. Fiverr
Fiverr.com is a website where people can buy and sell services. It’s like an online marketplace where you can find freelance jobs for things like graphic design, writing, programming, and more.
People who need tasks done can hire freelancers from all over the world. It’s a convenient platform for getting work done or earning money by offering your skills and services online.
Wide Variety of Services: Fiverr offers a vast range of services, from writing and graphic design to programming and marketing. You can find almost any freelance service you need.
Affordable Options: Many services start at just $5, making them budget-friendly for buyers and sellers.
Global Talent Pool: Fiverr connects you with freelancers from all over the world, allowing you to find experts with diverse skills and backgrounds.
User-Friendly Platform: The website is easy to navigate, making it simple to find services, communicate with sellers, and complete transactions.
Customization: Buyers can often customize their orders based on their specific needs, ensuring they get exactly what they want.
Cons of Fiverr
Quality Varies: Because anyone can offer services on Fiverr, the quality of work can vary. It’s essential to read reviews and check portfolios to find reliable sellers.
Additional Costs: While basic services can start at $5, other features or faster delivery often come with extra costs, which can add up quickly.
Communication Challenges: Language barriers or different time zones might lead to communication difficulties between buyers and sellers.
Service Fees: Fiverr takes a commission from both buyers and sellers, so the final cost of a service can be higher than the listed price.
Dependency on Reviews: Sellers heavily rely on positive reviews. One negative review can significantly impact their business, leading to a focus on customer satisfaction, sometimes at the expense of quality.
2. Upwork
Upwork.com is a website where people can find freelance work or hire freelancers for various tasks. Whether you need a writer, designer, programmer, or any other skilled professional, Upwork connects businesses with talented individuals worldwide.
It’s a platform that makes it easy to get work done remotely, allowing employers and freelancers to collaborate on projects and get things done efficiently.
Pros of Upwork
Variety of Skills: Upwork has a wide range of professionals, so you can find experts in almost any field.
Global Talent: You can hire freelancers globally, giving you access to diverse skills and ideas.
Flexibility: Both clients and freelancers can work on their own schedules, making it convenient for everyone involved.
Secure Payments: Upwork offers secure payment methods, ensuring that freelancers are paid for their work and clients get the services they pay for.
Reviews and Ratings: Clients and freelancers can leave feedback, making it easier to choose reliable and skilled partners.
Cons of Upwork
Competition: Because of its popularity, there is a lot of competition for jobs, making it harder for new freelancers to get started.
Fees: Upwork charges fees on transactions, which can affect the overall cost for both clients and freelancers.
Communication Challenges: Sometimes, language and cultural differences can create communication problems between clients and freelancers.
Quality Varies: While there are many skilled professionals, the quality of work can vary, so it’s essential to do thorough research before hiring.
Project Management: Managing larger projects with multiple freelancers can be challenging, requiring excellent organizational skills.
3. Freelancer
Freelancer.com is a website where people can find work and hire others to do tasks. It’s a platform where freelancers, who are individuals skilled in various jobs, can connect with clients looking for their services.
People can post projects they need help with, and freelancers bid on those projects, offering their skills and expertise. It’s a hub for jobs in writing, design, programming, and more, allowing businesses and individuals to find the right talent for their projects.
Pros of Freelancer
Variety of Jobs: Freelancer.com offers various jobs in different categories, allowing freelancers to find work that matches their skills and interests.
Global Opportunities: Freelancers can connect with clients from all around the world, expanding their opportunities beyond local markets.
Flexibility: Freelancers can choose their own hours and work from the comfort of their homes, providing an excellent work-life balance.
Skill Development: Freelancers can enhance their skills by working on diverse projects and gaining experience in various fields.
Payment Protection: Freelancer.com offers payment protection features, ensuring that freelancers are paid for their work, and clients get the work they are paid for.
Cons of Freelancer
Competition: Due to its large user base, there is intense competition for projects, making it challenging for new freelancers to secure jobs.
Fees: Freelancer.com charges fees for using its platform, which can reduce freelancers’ earnings.
Quality Concerns: Some freelancers may not deliver high-quality work, leading to client dissatisfaction.
Communication Challenges: Miscommunication can occur between clients and freelancers due to language barriers or different time zones, leading to project misunderstandings.
Project Insecurity: Clients might face issues such as delayed delivery or incomplete work, although Freelancer.com does provide dispute resolution services to address these concerns.
4. Guru
Guru.com is a website where people can find freelance jobs and hire freelancers to complete various tasks. It’s like a big online marketplace where businesses and individuals can connect with skilled professionals from different fields such as writing, programming, design, and more.
People looking for work can create profiles showcasing their skills and experiences, while employers can post job listings and browse through freelancers’ profiles to find the right person for their project. It’s a platform that helps freelancers find work and clients find talented individuals to get their jobs done.
Pros of Guru
Wide Range of Skills: Guru.com offers a diverse pool of freelancers skilled in various fields, from writing and design to programming and marketing.
Safe Payment System: The platform provides a secure payment system, ensuring that freelancers get paid for their work and employers get the services they are paid for.
Work Flexibility: Both freelancers and employers enjoy the flexibility of working on their terms, making it suitable for part-time or full-time commitments.
Transparent Profiles: Freelancers’ profiles showcase their skills, work history, and client reviews, helping employers make informed hiring decisions.
Project Management Tools: Guru.com offers tools and features that help manage projects effectively, facilitating smooth communication between freelancers and employers.
Cons of Guru
Competition: Due to the large number of freelancers, it can be competitive to secure projects, especially for newcomers.
Service Fees: Guru.com charges service fees on transactions, which can impact freelancers’ earnings and employers’ budgets.
Quality Discrepancy: While there are many skilled professionals, the quality of work can vary, making it crucial for employers to carefully vet freelancers before hiring.
Limited Customer Support: Some users have reported limited customer support, leading to problems resolving issues promptly.
Project Delays: Like any freelancing platform, projects might face delays due to communication gaps, differing time zones, or unforeseen circumstances affecting deadlines.
5. PeoplePerHour
PeoplePerHour.com is a website where people can find freelance work or hire freelancers for various tasks. It’s like an online marketplace where individuals and businesses can connect to get things done.
Whether you need a graphic designer, writer, programmer, or any other freelance service, you can find skilled professionals here. PeoplePerHour.com makes it easy for people to work together online, no matter where they are.
Pros of PeoplePerHour
Variety of Services: PeoplePerHour offers a wide range of services, from writing and design to programming and marketing. You can find freelancers for almost any task.
Talented Freelancers: The platform allows you to connect with skilled freelancers worldwide, ensuring you can find someone with the needed expertise.
Flexibility: Freelancers and clients can work on projects remotely, providing flexibility regarding working hours and location.
Secure Payments: PeoplePerHour provides secure payment systems, ensuring that freelancers are compensated for their work and clients get the services they paid for.
Reviews and Ratings: Freelancers and clients can leave reviews and ratings, helping others make informed decisions about who to work with.
Cons of PeoplePerHour
Fees: PeoplePerHour charges fees for both freelancers and clients. Freelancers may have to pay a commission on their earnings, and clients might need to cover service fees, which can increase the overall cost.
Competition: Due to the vast number of freelancers on the platform, there can be intense competition for projects, making it challenging for new freelancers to secure work.
Quality Varies: The quality of work can vary since anyone can join as a freelancer. Some freelancers might not meet your expectations in terms of skills or professionalism.
Disputes: Occasionally, there might be disagreements between clients and freelancers. Resolving disputes can be time-consuming and might not always result in a satisfactory solution for both parties.
Limited Direct Communication: PeoplePerHour encourages communication through their platform, which can be a limitation if you prefer direct communication methods like email or phone calls.
Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners.
The freelance industry is growing constantly, with Techjury reporting more than 73 million active freelancers in the U.S. alone. If you’re running your own business as a freelance programmer, IT specialist, or cybersecurity consultant, you may already be feeling the effects of the competition. If you want something concrete you can show your prospective clients that demonstrates your expertise, you may want to get CompTIA-certified.
Certification exams are tough, but the Back-to-School season is also a chance to get back in the swing of your own education. And Entrepreneur readers can also take advantage of a Back-to-School Sale and get this All-in-One CompTIA and IT Lifetime Training Bundle from the expert instructors at Exams Digest. This study pack comes with labs, exercises, and more for $19.97.
Prep for your IT certifications.
CompTIA certification exams aren’t easy, but they may be more manageable if you’ve taken the time to study the materials. This unique bundle comes with practical study materials that you can use as an independent learning resource or as test prep. Learn more about penetration testing, network security, and Linux computing in labs and PBQs that put your cybersecurity skills to the test.
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Save on a lifetime of IT study materials.
Tech freelancers can help their business grow by getting CompTIA certified and showing clients exactly what you can do for them.
Hiring a freelancer requires almost the same amount of consideration as finding in-house talent. Doing so provides business owners and team managers to fully assess whether an independent worker is the right fit for their team.
Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners.
A recent report found that freelance work was growing more competitive as the market saturates with new workers. If you’re running your own freelance business, it may be time to get creative with your client outreach.
AI Resume Builder uses an advanced AI to create and edit ATS-friendly resumes that will get past resume filtering software and into your potential client’s hands. You can get a lifetime subscription to AI Resume Builder for the best price online, just $39 (reg. $1,560).
AI can help you write your resume.
AI Resume Builder is an easy-to-use software that could help your resume get noticed by potential clients. Take advantage of drag-n-drop layouts to easily rearrange blocks of your resume depending on how you want to present your experience. No more wasting valuable time working through clunky formatting requirements.
If your freelance business has its own color scheme, work it into your application materials with controls for color editing. You can even add your business’s social media links for GitHub, Titter, LinkedIn, Behance, and your own Portfolio. The Grammarly integration may also help you keep things professional by scanning your work for any grammatical errors.
There are more than 70 million freelance workers in the U.S. alone. If your business is vying for the same positions as over one third of the entire U.S. workforce, then it may take some work to stand out. AI Resume Builder is available on up to 999 devices per account. Your whole freelance agency could start sending out fine-tuned applications in record time.
Save on a lifetime subscription to AI Resume Builder.
If your business is competing for work in a finite pool, then some help from an advanced AI could streamline your workflow and boost productivity. Get the best price online for this AI application tool.
Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners.
Across fields and specialties, freelancing is becoming more competitive. One study found that by 2028, up to 90 million Americans will also be freelancing. So if you want to grow your freelance business and cultivate a robust list of clients, you might want some help from AI.
AI may not be able to match the quality of your work, but it could help you save time finding that work. LazyApply is a job application AI tool that was featured at CES 2023. It connects to your LinkedIn account and enables you to apply for jobs, send profile emails, and more. A lifetime subscription to LazyApply’s basic plan is on sale for just $67 from February 28 until March 5 at 11:59 p.m. PT.
If you spend less time applying to jobs, sending emails, and curating your CV, then you may be able to take on more clients and grow your business. LazyApply automates the application process on LinkedIn, Indeed, and other job platforms.
The average response rate for cold emails is 8.5%. That number can represent a significant time investment, but you could reduce the research needed to find promising emails using LazyApply’s profile emails. Reach out to promising opportunities based on a list of leads sent straight to you.
Apply for up to 150 jobs daily and track your application performance the whole time. You’ll even get a weekly consultation call to see about improving your application strategy. The freelance market may be competitive, but this tool could help you increase the number of applications and the quality of your work by saving you time.
Did the movie “The Big Short” go right over your head? Does Nasdaq sound more like a foreign country than a stock market index? When you hear about bear markets and bull markets, do you envision adorable cartoon mammals browsing for fresh produce at a local farmers market?
You’re not alone.
The stock market can be confusing, and if you’re not a financial wizard in the Wall Street inner circle, you might be tempted not to bother with stock and options trading at all. But you’d be missing out.
That’s where apps like Robinhood come in. In this Robinhood review, we’ll discuss how Penny Hoarders can go from novice traders to expert stock market gurus, no matter how much or how little they have to invest.
What Is Robinhood?
Robinhood offers a unique brokerage account with commission-free investing from your smartphone. Robinhood has been around for the better part of a decade — the company launched April 18, 2013. Its two founders, Vladimir Tenev and Baiju Bhatt, met at Stanford University as roommates and eventually moved to New York City to build finance companies.
Upon seeing firsthand how Wall Street insiders and powerhouse firms paid almost nothing when trading stocks while average Americans had to pay a commission fee for every trade, they instead headed to California to develop a financial product that allowed everyone to trade easily and affordably.
The resulting financial product, of course, was Robinhood. The company today is headquartered in Menlo Park, California.
Robinhood has not been without its challenges. It’s famous for serious outages during market surges in 2020 and its role in the early 2021 market chaos related to the Reddit forum called r/wallstreetbets, where it restricted member access to securities like GameStop, Nokia and AMC. More recently, Robinhood laid off 23% of its staff, just one example of the massive tech industry layoffs in 2022, and also has been in the news for questionable trades.
However, Robinhood’s overall mission to make stock market trading accessible for everyone is admirable, and it is one of many investment and trading tools that seeks to put power back in consumers’ hands to elevate the financial status of the average American.
That’s a product that, even with its flaws, we can get behind.
What Tradable Securities Does Robinhood Offer?
The Robinhood platform is a great solution for free(!) trading of stocks, options, ETFs (exchange-traded funds) and ADRs (American Depositary Receipts), as well as cryptocurrency trading. The trading platform requires no minimum balance, offers fractional shares and includes plenty of educational resources. While Robinhood is most known for trading stocks and crypto, you can also use it for cash management.
Robinhood does not, however, offer access to mutual funds and bonds..
In 2021, Robinhood began to offer IPO access, meaning investors could purchase shares of stock in new companies at the IPO price before they go public. And in 2022, it introduced individual retirement accounts, or IRAs.
What Can You Trade on Robinhood?
U.S. exchange-listed stocks
U.S. exchange-listed ETFs
Options contracts for U.S. exchange-listed stocks and ETFs
ADRs for more than 650 globally listed companies
Cryptocurrency
What Can’t You Trade on Robinhood?
Foreign-domiciled stocks
Select OTC equities
Preferred stocks
Tracking stocks
Stocks that trade on foreign exchanges
Royalty trusts
Units
Closed-end funds
Mutual funds
Bonds
Fixed-income trading
New York registry shares
Limited partnerships
Chinese securities affected by the Nov. 2020 executive order
Spanish ADRs
How to Get Started with Robinhood
To sign up with a Robinhood brokerage account, simply visit the website and press the black “sign up” button.
Hot Tip: Robinhood is currently offering one free fractional share upon signup. There are 20 fractional shares available to choose from. To generate its 20 offers, Robinhood chose the two largest S&P 500 companies within each of the top 10 sectors based on market cap.
To open an account with Robinhood, you have to meet a few individual requirements:
You must be 18 or older.
You need a valid Social Security Number (Note: You may not use a Taxpayer Identification Number).
You must be a legal U.S. citizen, U.S. permanent resident or have a valid U.S. visa and have an address in the 50 states or Puerto Rico (exceptions made for members of the U.S. military stationed outside the country).
The Robinhood trading platform is accessible via the web or app (iOS and Android).
The process of activating your account can take some time. You’ll start by submitting an application. While Robinhood reviews the application, you can queue one deposit to fund your account, but you won’t be able to use that money to make trades until account approval.
Typically, Robinhood will take a few days to either approve your application or request more information. If they request more information or documentation, be prepared to allow five to seven days for review.
How Much Does Robinhood Cost?
Trading with Robinhood is free. That’s the whole reason its founders launched the company: free stock trading for regular people. That means you won’t pay commissions on equity trades or options trades. However, you could wind up having to pay account transfer fees, wire fees, check fees and live broker fees, among others.
In addition, Robinhood Gold allows you to trade on margin at a 7.25% annual rate. It also allows you to make bigger deposits with faster fund access. This fee for the margin account is $5 per month.
Robinhood Gold, Explained
Margin trading means trading with borrowed money. If you invest in a bad stock and lose money on the investment, you’ll owe that money back.
For example, say you borrow $500 to invest in a stock worth $500. But that stock plummets to $100. You will still owe the remaining $400 back to Robinhood. That’s what makes margin trading a little too risky for novice traders.
Not only that, but if you borrow more than $1,000 to trade on margin, you’ll owe 2.5% yearly interest on that borrowed money above that $1,000.
Because Robinhood is targeted at new investors — and margin trading is a risky practice that can break even the savviest stock market gurus — we recommend that you invest with your own money, and make sure it’s money that, if lost, will not financially ruin you.
If Robinhood is commission-free and not everyone uses Robinhood Gold, how does Robinhood make money off you? Robinhood spells this out transparently on its website:
Rebates from market makers and trading venues: Robinhood has developed relationships with market makers and trading venues that pay Robinhood rebates for directing orders to those makers and venues. In the industry, this is known as payment for order flow (PFOF).
Stock loans: Robinhood can loan stocks held in your account to traders and hedge funds for short selling. Robinhood gets to keep the money it makes from this; you as the investor do not share in the wealth.
Income from cash: If you have idle cash sitting uninvested but haven’t moved it into a cash management account, Robinhood earns interest on that cash.
Cash management account: Every time you use the debit card for your cash management account, Sutton Bank (the card issuer) earns a fee, which it shares with Robinhood.
Robinhood Gold: Robinhood makes money off every Gold subscription, both from the monthly fee and from margin interest.
Robinhood Review: Key Features
In this section, we will break down some of the hallmark features of Robinhood.
Robinhood: At a Glance
Feature
Details
More Details
Trading fees
$0
n/a
Account minimum
$0
n/a
Tradable securities
Stock options
ETFs ADRs; crypto
Mobile app rating
4.2 on App Store
4 on Google Play
Customer support
Talk to a live agent 24 hours a day, 7 days a week
30-minute guarantee
Other key features
Fractional shares
IPO access
Beginner perks
Educational resources
Free stock at sign-up
Commission-Free
Robinhood’s schtick has long been that it offers commission-free trading. That means you will spend $0 for stock trading and $0 for options trading. ETFs also are commission-free.
This was the original mission of the founders, but in the time since launching their revolutionary idea, some of the bigger, traditional players, like Fidelity and Charles Schwab, have latched onto the same idea — and are backed by a better customer support system and a better-supported platform.
That has meant the Robinhood trading platform has had to find new ways to differentiate, like cryptocurrency and fractional shares. More on these below.
No Account Minimum
Of course, you will need to put money in your account to invest, but Robinhood does not have an account minimum, nor does it charge you for having a low or zero balance. And with fractional shares being an option, you can get started investing with as little as a dollar in your account.
Note: To purchase a security on margin (through Robinhood Gold), you need to have at least $2,000 in your account. This is not a Robinhood requirement but rather a regulation set by the Financial Industry Regulatory Authority (FINRA).
Cryptocurrency Trading
Cryptocurrency is still a foreign concept to many investors, but just because something is new and scary (also, it’s been around since 2009, so it’s hardly new anymore) doesn’t mean you shouldn’t invest. Not all brokers allow you to buy and sell cryptocurrency, but Robinhood offers support for multiple cryptocurrencies, including Bitcoin, Dogecoin and Ethereum, with Robinhood Crypto (open 24/7).
In keeping with the whole “Robinhood is free” theme, Robinhood charges 0% for crypto exchanges. Some competitors charge up to 4%.
Fees
Not only does Robinhood offer free trades on stocks, options, ETFs and ADRs, it also has no account fees, inactivity fees or ACH transfer fees. Robinhood Gold, as mentioned, currently costs $5 a month.
Mobile App
Robinhood was created in the heart of Silicon Valley in Menlo Park, so, unsurprisingly, its mobile app is streamlined and easy to use. At the time of writing, the Robinhood app had 4.2 stars in the App Store based on more than 4 million reviews.
Its website, too, is streamlined. It doesn’t have a lot of extras, which is great if you are a novice trader. A more senior investor may find the site lacking, however.
Customer Support
While Robinhood offers customer support, this seems to be the biggest issue raised by members. Customer review sites often are littered with complaints that customer service is virtually nonexistent, especially pre- and post-market.
In an effort to improve its relatively low-rated customer support options, Robinhood rolled out a new customer service feature in 2021. This allows customers to request a call back, 24/7. Robinhood promises an agent should call within 30 minutes.
No Mutual Funds and Bonds
While commission-free stocks, options, ETFs and even crypto are a big pro of Robinhood, its lack of mutual funds and bonds can be frustrating for traders who want to diversify. As far as retirement accounts go, mutual funds are a key part of a retirement investment strategy.
Fractional Shares
True to its goal of making growing financial wealth more accessible to average Americans, Robinhood released fractional share options in late 2019. This means, if you can’t afford an expensive stock valued at, say, $1,000, you could instead buy a fraction of the stock, maybe $100 worth of it, or even just $10.
Right now, Robinhood allows you to buy as small as one-millionth of a share. Just like full shares, trading of fractional shares can be done in real time and is commission-free.
Recurring Investments
Another tool that Robinhood has introduced in recent years is recurring investments, which is a nice pairing with a fractional share investment strategy. For example, if Company X’s stock hovers around $200, you can set up a recurring investment in a fractional share at $25/week. Within roughly eight weeks, you could own a full share.
Most brokers structure recurring investments as buying by the share, which typically leaves your account funded with some uninvested cash. But Robinhood’s recurring investments are structured as buying by a dollar amount, which makes the best use of all your invested cash.
IPO Access
New in 2021, Robinhood gave customers access to purchase stocks in upcoming IPOs (initial public offerings) at the IPO price. No minimum account balances or special status requirements are necessary.
Cash Management Account
Another cool feature of Robinhood is the associated cash management account. You can have your paycheck deposited here, use it to pay bills and deposit checks, and, of course, fund your account. Like a proper bank account, this account gives you access to more than 75,000 fee-free ATMs (pretty much everywhere Mastercard is accepted) and comes with a debit card. And the best part: It earns 1.5% APY. For reference, the FDIC says the average interest rate for a savings account is 0.33% APY. And because the account is operated through a network of banks, you’ll get more than the typical $250,000 FDIC insurance; instead, the account is insured up to $1.25 million.
Educational Resources
A lot of now-outdated Robinhood reviews mention the lack of educational resources. We couldn’t find anything to be less true of Robinhood. Perhaps in response to some of those reviews, Robinhood has stepped up its game, with plenty of online resources on the website as well as a daily financial newsletter called Robinhood Snacks. Robinhood markets it as a “3-minute newsletter with fresh takes on the financial news.”
Pro Tip
Serious investors keep up with this kinds of news. It may not have the same appeal as celebrity gossip, but it will help you make wise decisions investments decisions.
Robinhood makes it easy to access news from Reuters, Cheddar, WSJ Markets, etc. Upgrading to Robinhood Gold gets you access to Morningstar, Nasdaq and Nasdaq Totalview Level 2 Market Data.
What Customers Are Saying About Robinhood
Because of Robinhood’s role in the recent GameStop market chaos and following layoffs in 2022, many angry investors and emboldened Redditors spoke their minds online, meaning Robinhood’s current ranking on sites like the Better Business Bureau (BBB) and Google Play is suffering. This is more a reflection of reviewers’ overall criticisms of capitalism, hedge fund managers and the 1% than it is on Robinhood, which, if you take a step back, is really trying to help the average investor.
Pros and Cons of Robinhood
There’s a lot to love about Robinhood, especially if you are a new trader. More experienced traders may prefer a different approach to trading, however. Weigh these pros and cons before deciding on a Robinhood brokerage account.
Pros
The educational content is great if you are new to the stock market and want to learn the language.
The cash management account makes it easy to fund your investments and earns a decent APY.
You can strategize by combining fractional shares and recurring investments to diversify your assets and minimize uninvested cash, no matter how much you have to invest.
The commission-free trading and no account minimum truly make this accessible to anyone who wants to invest.
Robinhood gives you the option of investing in cryptocurrency and access to IPOs.
The mobile app and online trading platform are known for their ease of use.
There are no account or trading fees, nor are there account inactivity or ACH transfer fees
Robinhood is running a promotion wherein you get free fractional share upon signing up.
Cons
The role Robinhood played in limiting investments in squeeze stocks (like GameStop) in early 2021 brought the original mission of the company into question. The 2022 layoffs didn’t help.
Customer support is lacking, especially compared to larger brokers. Robinhood customers complain that customer service is especially challenging pre- and post-market.
Robinhood lacks mutual funds and bonds.
By not charging investors commission, Robinhood instead makes money through the payment for order flow, a common standard among online brokers. Some critics say this is a conflict of interest.
Are There Alternatives to Robinhood?
If you want to stay away from major players like TD Ameritrade and Charles Schwab, Robinhood is arguably the most popular trading tool.
Its most notable competitor is Webull. Both Robinhood and Webull have their advantages; it truly comes down to your personal preferences. But Robinhood and Webull aren’t your only options. In fact, we’ve rounded up the best investment apps currently offered; choosing the right app depends on your own specific needs and investment strategy.
Frequently Asked Questions (FAQs) About Robinhood
Still have questions about opening a Robinhood account? We’ve provided answers to some of the questions our readers are most commonly asking.
Yes, Robinhood is a safe platform for investing. Robinhood is a member of the SIPC (Securities Investor Protection Corporation), meaning your funds are insured up to $500,000. Robinhood also is regulated by the Securities and Exchange Commission (SEC).
Is Robinhood a Brokerage Account?
Yes, Robinhood offers a brokerage account as its key offering, but you can also open a cash management account with Robinhood.
Does Robinhood Pay Dividends?
Robinhood processes your dividends automatically, crediting cash to your account by default.
Is Robinhood Gold Worth It?
Most investors will be fine with Robinhood’s free investing accounts. Being a Robinhood Gold member is ideal for margin trading, but we don’t recommend this unless you are a more seasoned investor.
Timothy Moore covers banking and investing for The Penny Hoarder from his home base in Cincinnati. He has worked in editing and graphic design for a marketing agency, a global research firm and a major print publication. He covers a variety of other topics, including insurance, taxes, retirement and budgeting and has worked in the field since 2012. Freelancer Lauren Richardson contributed to this post.
Time kills deals. So if you’ve ever struggled to write a business proposal, check out the most recent episode of the Launch Your Business Podcast.
You’ll learn how to write proposals that get accepted and don’t take forever to write. I’ve provided a few of the key takeaways below.
But as heads up, this is a rather detailed guide (which includes a sample proposal) so I suggest saving it, blocking off time to read it, and sharing it with another business owner who could use the help.
The three questions you must ask before creating a proposal
The process of writing a proposal actually starts with the sales call and the questions you ask. So, once the prospect indicates a willingness to move forward, here are the three questions you must ask.
“What do you need to see in the proposal?”
Too often we assume the prospect wants a 30 page essay on how you’re going to change their life when they really just want an invoice. Asking this question upfront will save you a lot of time and stress.
And, you can go as far to ask if they’d prefer a specific format, details or even an example of a proposal that’s been accepted in the past. The more you know, the faster you can move and the more likely you are to have your proposal accepted.
“Who else needs to see this proposal in order for it to be approved?”
You might have a great relationship with the prospect you’re chatting with but you never know if there’s a spouse or coworker – who you haven’t met – that also needs to be involved in the approval process. And since they weren’t involved in any other conversations you wouldn’t be aware of any stipulations or questions they may have about the engagement.
You can speed up the sales process and avoid a lot of back and forth by understanding whether or not it makes sense to have a call with an additional stakeholder. This additional call would allow you to develop rapport with them and answer any questions they may have before you write the proposal.
“How soon would you like to start?”
You’re going to ask this just in case they take forever signing the proposal. So, let’s say the state they need to get started by May 29th. If it’s May 22nd and they still haven’t signed the proposal you can email them and say “Hey, if you want to get started by the 29th the contract needs to be signed this week. I’ll need to send you some onboarding materials and it will take me a few days to prep in advance.”
This should get you a response since you’re referencing the deadline they created. Hopefully it doesn’t come to that point but you’re prepared just in case it does.
Key elements to include in your proposal
So now that we have all the information we need, it’s time to write the proposal. And, my approach is based on the book Million Dollar Consulting proposals by Alan Weiss. I picked it up when I first started my business and was surprised by the fact a proposal didn’t have to be a dissertation. In fact, his recommended format is only one and a half pages long. I’ll walk you through all the sections now.
Overview
The first is the overview. And, this is the part where you explain what you’ll do along with the impact it will have on the company or organization. The example you’ll find on my website is based on a service provider who helps companies optimize their email marketing campaigns.
The overview is fairly basic. I’ll share an excerpt from the sample proposal below.
The goal of this engagement is to provide tactic-level guidance and support as it applies to your optimizing your email marketing strategy. Key outcomes include increasing your list size and revenue generated per subscriber.
Key Performance Indicators
The next section is where you’ll indicate how success will be measured. These are the key performance indicators or KPIs. And, I’ll share an excerpt from the sample proposal again.
Key Metrics of Success:
Email list growth
Email open rate
Email click rate
Website purchases
The metrics you mention will obviously be different and you want to agree on these during a conversation with the prospect.
For example, let’s say you offer training that helps companies boost their employees morale. And, the goal is to reduce turnover and increase employee satisfaction.
The KPIs might be:
Reduction in employee turnover
Increase in employee satisfaction (based on a pre and post training survey)
Net Promoter Score. (how well did participants rate you and your training)
Your KPIs are important because anyone should be able to quickly scan them and immediately understand the impact of your work. So, be sure to put some thought into these.
Services Provided
We have our overview, and our KPIs, now we’re going to list the specific services you’ll provide. And, unless requested, you should keep this relatively brief. Stick to bullet points if possible.
Here are the services referenced in our sample.
The Consultant agrees that they shall provide their expertise to the Client for all things pertaining to optimizing their email campaigns including:
Email list maintenance
Subject lines optimization
Email copy best practices
Increasing revenue per subscriber
Again, this will all be based on the service you offer but you get the point, keep it brief. If you want to provide more details I suggest adding sub bullets as opposed to paragraphs.
For example, I referenced email list maintenance . A sub-bullet could break down exactly what I mean by that.
Email list maintenance
Removing people who unsubscribed from the email list
Labeling subscriber who buy specific products
Identify individuals who spend more per purchase
I don’t want to turn this into an email marketing lesson but you get the point here, provide additional details without getting into the weeds.
Fulfillment Process
After providing information on the services, it’s time for the next section, which is your process. What does the client journey look like from start to finish? The more you can help someone visualize the entire engagement, the easier it will be for them to wrap their head around it and say yes. Again, you want to use bullet points here.
So, here’s the process based on the email marketing training we’ve been talking about.
Client grants access to email marketing platform
Consultant audits current campaigns
Consultant delivers summary and optimization roadmap
Consultant trains team members
Team members implement new techniques and tools for 30 days
Consultant audits new campaigns and identifies improvement and ongoing opportunities for optimization
So now it’s your turn. Jot down every milestone that takes place from beginning to end, but say it in a concise manner.
Delivery & Communication
The next section describes how you’ll provide this service and how you will stay in communication during the project. This one is rather basic as well but it’s important. So, here’s an example for you.
The Consultant will perform work remotely unless otherwise noted.
In addition to emails and messages, the Consultant will meet with the Client once per week to discuss progress and continue implementation of solutions. The consultant agrees to respond to all client communications within one business day with the goal of answering any questions within 48 hours.
That last part is important since it establishes expectations for how quickly you’ll get back to a client. I usually get back to people relatively quickly but this is a great way to establish communication protocols.
Terms of Agreement
The next part is the terms of the agreement. And by terms I’m not referring to a legal contract, this is just a summary of when the engagement will start and end.
This Agreement shall begin on [Begin date] and continue for [Time period]. Either Party may terminate this agreement for any reason with [Days written notice] days written notice to the other Party.
Again, this clearly isn’t a legal contract. But if you are looking for help with writing legal contracts I’ve provided more information on my site at terryrice.co/proposal
Compensation
The last part is exciting and scary at the same time, compensation. As you may have guessed, this is the part where you state how much it will cost and when you’ll get paid.
Here’s the copy provided in the sample.
In consideration for the services referenced, the client shall pay the consultant a flat rate of $30,000.
Consultant shall invoice client on the following schedule:
33% upon agreement
33% at halfway
33% upon completion
So, a few things to call out here. Always get paid before you do any work, even if it’s just a 20% deposit. And youre doing this in case the client backs out for one reason or another after you’ve already started working. For larger engagements I like to break these down into phases, especially if it’s going to take several months. You can choose to get paid upon completion of each stage of the process.
Putting it all together
So there you have it, an easier approach to writing proposals that don’t take forever.
And, if you want to create them even faster, use a template that can be quickly customized. I use a tool called Honeybook for this and you can also use it to send invoices.
As a heads up they have a promotion where you can use the service for just one dollar per month for the first eight months. So it’s a great opportunity to try it out for a very low price. You can sign up here. And, I should note, I’m an affiliate partner for HoneyBook and will receive a small commission if you choose to use their service. But like I said, it’s my go-to platform, which is why I highly recommend it.
A quick pep talk for you
I know the process of creating proposals can be challenging so my goal here was to help you save time and avoid confusion.
But before we go I want to address a few questions that may be on your mind.
What happens if something is missing from the proposal?
What if they want more details?
And those are valid questions. In fact, it happens to me quite often. But fortunately the foundation you’ve established is so clear, the prospect will ask more pointed questions as opposed to being confused about what the heck you’re going to do.
These are buying questions, not “What the heck are you talking about?” questions. So you may just need to make a few adjustments before your prospect is ready to sign and you get paid!
What’s next?
Block off one hour to complete your proposal. But remember, done is better than perfect.
And if you’d like help growing your professional service business consider joining my video course, The Solopreneur’s Shortcut. Through a combination of videos, worksheets and templates you’ll discover how to package, price and promote your services so you can attract high-paying clients.
Either way, I wish you the best of luck and if you have any questions feel free to contact me on LinkedIn or Instagram.
To hear the full conversation and get access to additional resources tune in to this week’s episode of the Launch Your Business podcast.
Valentine’s Day is coming and you’re still paying off bills from the holiday time. Don’t stress it though. You can get a cheap but thoughtful gift for that special someone with just a little planning.
There are a variety of discount stores — many with “dollar” in their name — offering the necessary components for Valentine’s Day. But don’t overlook other discount stores that can be a great source of gifts under $10.
You can of course go the ultra-traditional route and give Valentine’s Day presents like cuddly little bears with sweet messages, boxed candy, and a romantic card. All of these can be found at any dollar store for a few bucks. They are good choices but you may be looking for something that stands out more.
Let’s really get romantic with more memorable, but not more expensive, gift ideas. Our dollar store gift guide has items you can find in stores but we also have the links to retailer sites included.
14 Bargain Valentine’s Gift Ideas to Profess Your Love
These cheap Valentine’s Day gifts are made better by adding the personal touch. Oh, and our gift to you is that we went shopping so you don’t have to.
1. Make Sweet Music
If you already use a music streaming service, make a romantic playlist for the one you love. Then add in these glow in the dark or Star Wars headphones from 5 Below for just a bit over $5. Even if you don’t currently pay for music streaming, you can get a free Spotify account and use that for your love songs.
2. Romantic Words
Maybe it is time to let the poet within you free. Get your sweetie a blank notebook from your favorite dollar store or even a craft store. Depending on your sweetie’s personal style, you can splurge $8 on the llama and sloth one, or a natural cork covered journal, or get a little edgier with one with skulls all over it for only $2.25 at Big Lots. Then write your poems in it. Your personal love language will melt hearts.
Not really a poet? Not an issue. You can fill the notebook with thoughtful song lyrics, classic love poems, or some of the great love quotes from the movies. Imagine turning a page and finding this quote from Dirty Dancing:
I’m scared of walking out of this room and never feeling the rest of
my whole life the way I feel when I’m with you.
SWOON. This is the type of surprise gift that will really matter to someone.
3. Sweets for the Sweet
Maybe your creativity happens in the kitchen, and you have the ingredients to make someone’s favorite cake. Even more exciting is if you aren’t known for your baking skills, deciding to make your partner a delicious cake is more meaningful. Food can be the way to someone’s heart.
You can get cake mixes and frosting at Family Dollar for less than $5 total. If your partner is a coffee drinker, put a little espresso or coffee in the batter instead of water, and add a teaspoon of cinnamon. This website has some great tricks for making mixes taste homemade.
You can also make store-bought frosting taste a little fancier by adding a tablespoon of melted butter, and a half teaspoon of vanilla to the tub, and mix it together well, then frost the cake.
Would it be too much to bake in a heart shaped pan? Not at all (just $6.49 at Michaels). True love is letting your partner lick the spoon.
4. Make It a Movie Night
Date night can hit new heights with a little planning. Several streaming services offer a free week or month trial. Just remember to visit your account and turn off the recurring payments so you don’t get a surprise charge.
Special little touches will add to the evening. Share some microwave popcorn in this movie popcorn tub , grab a theater size box of Milk Duds (or any other candy), and dim the lights (all only $1.25 each at Dollar Tree). Who says you have to pay attention to the film?
5. Gaze Into the Fire
Luckily Valentine’s Day falls in the winter when cuddling is important for body warmth. Can you build a fire to gaze into with that hottie you love? No fireplace? Not a problem. Put this 10-hour long fireplace video up on the screen and get in the mood for romance. And it’s free.
Getty Images
6. Say It With Chocolate
Imagine sipping some deluxe hot cocoa in front of the fire. Making chocolate bombs are easy — all you need are two Hershey’s bars ($1.50 each), a pack of hot cocoa mix, milk and marshmallows if you like them. Then sit back, relax and watch both the chocolate and your stress melt away.
This Etsy seller has heart shaped silicone molds for $9 (and free shipping!).
Too much work? You can grab some fancy hot chocolate mixes for pennies each, and maybe a can of whipped cream. Turn the couch into a cuddle center. Taking the time to make a treat for the person you care about matters more than the money you spend.
7. Toast to Your Love
If you aren’t chocolate people (we’ve heard they exist), you can still get romantic in front of the fire. Some cool looking stemless wine glasses ($1.25 each from Dollar Tree) and a cheap but good bottle of wine is a perfect low key Valentine’s Day gift. There’s even a heart topped bottle opener and stopper set that you can give ($6.20 at Walmart). It even comes in a velvet lined box.
8. Take a Luxurious Bath
There’s nothing like relaxing after a long day, and you can help your darling get there. Soaking in the tub is a true luxury. Start off with a soothing bath bomb (Target has a pack of 5 for $6). Or you can give essential oils (The Vitamin Shoppe has lots under $10) so they can put a few drops in the water for a relaxing bath.
9. Lotions and Potions
The perfect gift might be a lovely scented moisturizer. One of the most romantic things I’ve ever known was my dad rubbing lotion into my mom’s hands each night after a long day of work. A small container of shea butter is very affordable (under $4 at Sally’s Beauty Supply) and they’ll think of you every time they use it.
10. A Good Night’s Sleep
How can anyone relax if their tootsies are cold? Cute, fuzzy slippers are just the thing. They’re always the perfect size, and these are available in llama, teddy bear, fox, and puppy (priced at $6 a pair at Walmart). Giving roses is nice, but a rose petal scented candle($4 at Target) next to the bed will last much longer.
Guarantee sweet dreams with a sleep mask, which you can snag for $2 at Ulta. Hopefully they will fall asleep thinking of how wonderful you are. For about $9 you can get four pillow sachets, which are little scented bags packed with dry herbs for under their pillow to help them get their beauty sleep each night (Etsy including shipping).
11. Gifts for the House
It is pretty hard to resist these little ceramic animal planters at Dollar Tree. Online you have to get them in bulk but in the stores they sell individually for $1.25. They have sloths! The sloth market is really limited. There are also turtles, foxes, and elephants. They’re great for keys, jewelry, and all sorts of little items.
If you or your hunny bunny is creative, then this is a perfect Valentine’s Day art project. It is a ceramic heart magnet that can be painted and put on the refrigerator. They’re cheap enough to get a pair, less than $2 each at Michaels.
12. Cute Stuff for Them
If you are dating a dog lover, you can melt two hearts by getting them this matching dog/owner beanie set ($5 at Five Below). The dog might have mixed feelings, but the cuteness cannot be denied.
What’s their sign? A zodiac sign necklace means you know their birthday and these blinged out ones are pretty fabulous and less than $7 with shipping ($2 at Shein).
13. The Art of Love
True love may be encouraging your dearest to fulfill their talents. If they used to draw or paint and fell away from that, discount department stores are full of colored pencils and pens, blank journals, and all sorts of beginning art sets. Tuesday Morning stores have pretty robust arts and crafts sections. Five Below has a pretty complete beginners’ set for only $5, with a nice variety of pencils, charcoals, and pastels.
14. And More Sweet Nothings
Leave sticky notes with sweet messages on their laptop. Give a lottery ticket with the dreams of an amorous trip detailed. Put the ticket stubs from a favorite concert in a frame. Don’t ever discount the pleasure of a delicious breakfast in bed. Flowers are wonderful, especially in your person’s favorite colors.
Cheap Valentine gifts are easy to do, and don’t have to cost much. There are a ton of small loving moments that you can give. Valentine’s Day is just one day a year. Your thoughtfulness will transform any five buck doodad into an invaluable treasure.
The Penny Hoarder contributor JoEllen Schilke writes on lifestyle and culture topics. She is the former owner of a coffee shop in St.Petersburg, Florida, and has hosted an arts show on WMNF community radio for nearly 30 years.
Filing taxes in the United States could be free and simple for everyone — if only tax prep companies weren’t lobbying to keep it so complicated.
The Internal Revenue Service and your state tax collectors already have access to most of the information you painstakingly report in a tax return because your employers and banks are required to provide it.
We could, in theory, have a return-free system, where the IRS sends you that information and how much it believes you owe, and you don’t have to file anything unless you disagree with it.
But we like a challenge, don’t we?
Instead of this straightforward public service, we have the next best thing: A private system that helps the majority of Americans file a federal tax return for free.
Except most of us don’t use it … because we don’t know it exists.
The Free File Alliance MUST Let You File Taxes for Free
The agreement says these companies have to provide the majority of Americans with a free way to prepare and file their taxes online. It also bars the IRS from providing its own free filing system — like that dreamy no-return scenario mentioned above.
The problem, predictably, is that no one advertises the free services.
The government has no budget to market it, and the for-profit tax preparers have no incentive to let you know about their free options — and every incentive to funnel you toward a paid option. And they use every opportunity, as ProPublica has reported repeatedly.
The result is that most filers have no idea the option exists, and hardly anyone takes advantage of it.
In 2020, the Alliance touted “soaring” participation — a 28% “jump” from 2.3 million filers in 2019 to 2.9 million in 2020. Sounds great, except more than 130 million taxpayers qualified for free filing through the program. That’s a participation rate of about 2% of eligible filers.
How to Get Free Tax Filing Through the Free File Alliance
This part is, in fact, easy once you know about it.
To qualify, you have to earn below a certain income limit, which changes each year.
For tax year 2022 (what you’ll file starting in 2023), anyone with an adjusted gross income of $73,000 or less qualifies for free filing through an IRS partner.
The most popular services, TurboTax and H&R Block, have left the Alliance in recent years, and this year’s participating companies are a collection of mostly lesser-known online tax preparers:
Choose a filing service through the IRS browsing tool to make sure you access the actually free versions of these services and avoid upsells to paid services. It’ll ask you some questions to help you determine which service is a good fit for your tax situation.
Before you choose a service, read through the requirements for free filing. Some of them cap incomes as low as $39,000, or tack on an age requirement or state limitations. A few, but not many, throw in free state filing so you can avoid that surprise charge at the end of the process.
Most importantly: Assume you can find a way to file for free. The agreement aims to make free filing available to 70% of Americans, so the odds are in your favor.
Tax companies will make plenty of offers that tempt you to upgrade to a paid option — or make you believe you have no choice. But you do. They’ve barred our government from offering us that choice, and in return, they’re required to provide it themselves.
We just have to make sure we can find it.
Frequently Asked Questions (FAQ) About the Free File Alliance
Here are our answers to some common questions about the Free File Alliance.
Is Free File Alliance Legit?
Yes, the Free File Alliance is a legitimate partnership between private tax prep companies and the IRS to provide free federal tax filing. It can be accessed through the IRS Free File Options page to ensure you get a tax preparer’s free version and can see any additional fees upfront.
Which Companies Are Part of the Free File Alliance?
Companies participating in the Free File Alliance change from year to year. In 2023, seven companies are participating: 1040Now, ezTaxReturn.com, FileYourTaxes.com, OnLine Taxes, TaxAct, TaxHawk Inc. and TaxSlayer.
Is IRS Free File Really Free?
Yes. If you qualify, you’ll pay nothing to file your federal tax return through a participating Free File company. For tax season 2022, you must have earned $73,000 or less to qualify, and you might face additional requirements or restrictions from individual tax companies. You’ll likely pay a fee to file a state return. Companies are required to list all non-qualifying fees on the landing page you access through the IRS Free File browsing tool.
Is TurboTax Part of the Free File Alliance?
As of 2021, TurboTax is no longer a member of the Free File Alliance. The company offers a free edition for filing simple returns, but read the details of TurboTax’s offers to see what’s included for free before filling out your return and facing surprise fees.
What Is the Best Free Tax Filing Online?
Most free online tax software companies are comparable in their offerings and requirements. Few of them offer only free filing, so you might not qualify for their free services. United Way’s MyFreeTaxes service lets anyone file online for free as long as you earned $73,000 or less (for tax year 2022), and you don’t have income from rental property or a farm. Cash App Taxes offers only free filing, so you can file through the app without worrying about being upsold.
Dana Sitar (@danasitar) has been writing and editing since 2011, covering personal finance, careers and digital media. She was ticked off she didn’t know about the Free File Alliance and wants to make sure you don’t face the same fate. Freelancer Lauren Richardson contributed to this post.
You’ve got several factors to consider — ATM access, interest rates, monthly account fees, minimum balances, online bill payments and more.
Another factor: sign-up bonuses. Banks and credit unions frequently run promotions to entice prospective customers to open a new account — and they often come with cash. You have to meet specific criteria, such as making a minimum opening deposit, and generally the account must remain open for a certain amount of time — at least long enough to earn the cash bonus.
Many banks offer such sign-up bonuses, but often, they aren’t advertised. We did some digging to find the best bank promotions currently on offer.
Best Bank Account Bonuses of February 2023
Keep an eye on what each promotion requires, as well as any limitations. Recurring direct deposits and maintaining a minimum balance are common requirements in securing bank bonuses. Also pay attention to monthly maintenance fees; over time, these could easily exceed a one-time cash bonus.
If you refer a friend and they open a new account and receive a direct deposit of at least $200 in the first 45 days, you will each receive $100. Make sure to use the referral link from your account to get the cash bonus. Referral bonuses are capped at $1,000 each calendar year.
Chime Referral Bonus Account
Bonus amount
$100 per referral, plus $100 to the friend you refer
How to get it
Referred friend receives $200 direct deposit.
When you get it
Upon completion of requirements
The fine print
Be sure to use a unique referral link from your own account.
Expiration
None
More Information About Chime Referral Bonus Account
Though not technically a bank, Chime is becoming increasingly popular as an online financial institution for banking customers of all ages. Top features include early access to direct deposit, fee-free overdraft, 60,000+ ATMs, a 2.00% APY for the high-yield savings and plenty of features to automatically grow your savings.
Alliant Ultimate Opportunity Savings
Best for Fans of Suze Orman
Key Features
$0 monthly fees with eStatements
High-yield savings account
Easy-to-track bonus criteria
Not only does Alliant Credit Union’s Ultimate Opportunity Savings Account (in partnership with Suze Orman) have one of the best APYs currently available (2.95%), it pays out its bonus pretty easily. No massive balances or monthly direct deposits to think about.
Alliant Opportunity Savings
Bonus amount
$100
How to get it
Deposit at least $100 a month for 12 months.
When you get it
Within four weeks of completion.
More information
Balance must be $1,200 at the end of 12 months.
Expiration
December 31, 2023
More About Alliant Ultimate Opportunity Savings Account
The Ultimate Opportunity Savings Account from Alliant Credit Union has a lot to like: 80,000+ fee-free ATMs, no monthly fees if you opt in to online statements, a leading mobile app, and a strong APY at 2.95%.
Huntington Perks Checking
Best for Quick Bonus Payout
Key Features
Easily waivable monthly fee
Only available in certain states
Quick cash bonus payout
This offer is only available to customers who live in CO, IL, IN, KY, MI, MN, OH, PA, SD, WV or WI. The Huntington Perks Checking account earns interest (but only 0.02%) and charges a $10 monthly fee. That fee is easy to waive, however, as long as you receive $1,000 in monthly deposits or maintain $5,000 total across all your Huntington accounts
Huntington Perks Checking
Bonus amount
$200
How to get it
Open a new account and make cumulative new deposits totaling $1,000 within the first 60 days.
When you get it
Within 14 days of meeting bonus criteria.
More information
Account must remain open for at least 90 days.
Expiration
June 7, 2023
More Information About Huntington Perks
Huntington’s Perks Checking account pays out nominal interest (0.02%), but the easily waivable monthly maintenance fee makes it appealing for an easy checking account. Key features include mobile banking, five fee-free out-of-network ATM withdrawals, the No Overdraft Fee $50 Safety Zone and the 24-Hour Grace Overdraft and Return Fee Relief.
“New account” is defined as money not currently in another Huntington account; money transferred from one account to another does not qualify. The bonus offer cannot be combined with any other checking offer.
Huntington Platinum Perks Checking
Largest Bonus Payout
Key Features
$25 monthly fee (can be waived)
Interest-earning checking
Quick cash bonus payout
This offer is only available to customers who live in CO, IL, IN, KY, MI, MN, OH, PA, SD, WV or WI. This account earns interest (currently a 0.03% APY, which is quite low). It also has a monthly maintenance fee of $25, which is waived if you have at least $25,000 across every Huntington bank account.
Huntington Platinum Perks Checking
Bonus amount
$300
How to get it
Open a new account and make deposits totaling $25,000 within the first 60 days.
When you get it
Within 14 days of meeting bonus criteria.
More information
Account must remain open for at least 90 days.
Expiration
June 7, 2023
More Information About Huntington Platinum Perks Checking
While the Huntington Platinum Perks account does have a monthly $25 fee, you can waive it by having $25,000 across accounts with Huntington. By upgrading to this account, you’ll get a higher bonus, get unlimited fee-free ATM withdrawals and earn 0.03% interest on your balance.
“New account” is defined as money not currently in another Huntington account; money transferred from one account to another does not qualify. The bonus offer cannot be combined with any other checking offer.
Albert Accounts
Best for Cash Back
Key Features
Up to 20% cash back
Geniuses for personal finance questions
No fees or investment commissions
Albert is an all-purpose personal finance app that lets you spend, save and invest your money. There are no monthly maintenance fees, no minimum balances and no commissions (if you choose to invest). While you won’t earn a traditional APY, Albert gives users a 0.10% annual cash bonus on funds in savings, plus up to 20% cash back. New members are eligible for a $150 bonus.
Albert Accounts
Bonus
$150
How you get it
Receive a qualifying direct deposit of at least $500 within 45 days and then every 30 days for 90 days
When you get it
Upon meeting requirements over a 90-day period
More information
Must be new to Albert
Expiration
None
More Information About Albert Accounts
Members of Albert don’t have to worry about monthly fees or minimum balances, and they can take advantage of several cool features, like 55,000+ fee-free ATMs, early paycheck access, cashback rewards, Smart Savings (automatically analyzes your money and helps you to save), unlimited transfers, annual cash bonuses, the ability to invest, and a cash advance up to $250 (no interest, no credit check) instead of overdraft fees. Perhaps the coolest part is daily access to finance experts called Geniuses; pay what you think is fair for their advice. Just keep in mind that Albert is not a bank but an app (banking services are provided by Sutton Bank, Member FDIC).F
Chase Total Checking
Best for Basic Checking
Key Features
$12 monthly fee
Fee waived by meeting conditions
Basic checking
The Total Checking account carries a $12 monthly service fee, but you can have it waived if you receive monthly direct deposits totaling $500 or more, keep a daily minimum balance of at least $1,500 in your new checking account, or keep a daily minimum balance across all your Chase bank accounts of at least $5,000. Direct deposit via person-to-person payment apps do not qualify. Chase offers access to 16,000 ATMs and more than 4,700 branches.
Chase Total Checking Account
Bonus amount
$200
How to get it
Receive a qualifying direct deposit within 90 days of account opening.
When you get it
Within 15 days of meeting requirements
More information
$12 monthly fee, which can be waived.
Expiration
April 19, 2023
More Information About Chase Total Checking Account
The Chase Total Checking account gets you access to more than 4,700 branches nationwide, plus 16,000 ATMs. The easy-to-use mobile app is highly rated. While Chase does charge a $12 monthly service fee, you can waive it by earning $500+ in monthly direct deposits, maintaining a daily balance of $1,500+ or having $5,000 across all your Chase accounts at the start of each day.
Fifth Third Momentum Checking
Best for Early Paycheck Access
Key Features
No monthly or hidden fees
Early access to paycheck
Overdraft avoidance feature
Fifth Third Bank is a regional bank with a decent checking account. Its lack of fees, Extra Time overdraft fee avoidance feature, fraud protection, early access to paychecks and physical branches are all highlights, but its lack of APY (you can upgrade to Preferred Checking to earn interest, but it’s only 0.01% APY) and limited branch network (FL, GA, IL, IN, KY, , MI, NC, OH, SC, TN, and WV) work against the bank.
Fifth Third Checking Account
Bonus amount
$325
How to get it
Open a new account and make direct deposits totaling $500 or more within the first 90 days.
When you get it
Within 10 days of meeting bonus criteria
More information
Must apply online or visit website to generate unique offer code to apply in person
Expiration
March 31, 2023
More About Fifth Third Checking Account
Fifth Third’s checking account boasts immediate funds for all check deposits, Extra Time for overdraft fee avoidance, early paycheck access, no minimum balance and no hidden fees. The account also offers basic fraud protection services and unlimited check writing.
TD Bank Convenience Checking
Best for Young Customers
Key Features
Easy to waive monthly fee
Easy-to-use mobile app
No overdraft fees for 17 to 23 year olds
TD Convenience Checking is not a glamorous checking account. It doesn’t earn interest, and there aren’t any cash back rewards. However, it’s easy to waive the $15 monthly maintenance fee: Just maintain a $100 minimum balance. Customers who are 17 to 23 years of age automatically have the fee waived and don’t have to pay fees for overdrafts. New customers earn $200 by receiving $500 in qualifying direct deposits within 60 days; earn an additional $200 when you open a linked savings account (Beyond Savings or Simple Savings) and deposit $10,000+ in the first 20 days.
TD Bank Convenience Checking Account
Bonus amount
$200 or $400
How to get it
Meet direct deposit qualifications ($500 within 60 days) to earn $200; add savings account for additional $200
When you get it
No later than 180 days after account opening.
More information
For savings bonus, you must maintain a daily balance of $10,000+ for 90 days.
Expiration
February 28, 2023
More Information about TD Bank Convenience Checking
The TD Convenience Checking account is a great account for first-time banking customers. There are no monthly fees or overdraft fees for members who are 17 to 23. However, you cannot earn interest on this account. If you are over 23, there is a $15 fee, which you can waive by maintaining a $100 daily balance.
TD Bank Beyond Checking
Best for Overdrafters
Key Features
Two overdraft fee forgivenesses
Free checks
Fee reimbursement for out-of-network ATMs
TD Beyond Checking offers more perks than the Convenience Checking, including two fee-free overdrafts per year, out-of-network ATM fee reimbursements, and free checks. The account does earn interest, but the monthly fee is higher ($25) and harder to waive. Bonus terms for the TD Beyond Checking are similar; coupled with the savings promotion, you could earn $500.
TD Bank Beyond Checking Account
Bonus amount
$300 or $500
How to get it
Meet direct deposit qualifications ($2,500/60 days) to earn $300; add a savings account for additional $200.
When you get it
Within 180 days of opening.
More information
For savings bonus, you must maintain a daily balance of $10,000+ for 90 days.
Expiration
February 28, 2023
More Information About TD Bank Beyond Checking
The TD Beyond Checking account is great for unique perks, like free checks, ATM fee reimbursement, and overdraft fee coverage (two a year). To waive the monthly $25 fee, you’ll need to earn $5,000 in direct deposits each month, maintain a $2,500 minimum balance in the checking account or maintain a $25,000 balance across all TD accounts.
Discover Bank Online Savings
Best for Big Savers
Key Features
High-yield savings account (3.30% APY)
No monthly fees or minimum opening deposit
No insufficient funds fees
Discover Bank’s Online Savings Account offers one of the highest APYs on our list. You can also pair the account with the Discover Bank Cashback Debit account (one of the best online checking accounts of 2022). However, the deposit amounts to earn the bonus are quite high, making the bonus offer far less achievable for most.
Discover Bank Online Savings Account
Bonus amount
$150 or $200
How to get it
Open an account using code CY323 and deposit at least $15,000 for $150 or $25,000 or $200 within 30 days
When you get it
Within 30 days of meeting bonus criteria
More information
Must be a first-time Discover savings account customer; current and prior customers are not eligible.
Expiration
March 15, 2023
More Information About Discover Bank Online Savings Account
The Discover Bank Online Savings Account offers a competitive APY (3.30%) with interest compounded daily instead of monthly. There’s no monthly fee with Discover, no minimum deposit and no insufficient funds fee. All in all, not a bad offer.
M&T Bank EZChoice Checking
Best for Beginners
Key Features
No monthly maintenance fees
Unlimited check writing
Physical branches
The EZChoice Checking account from M&T Bank is the most basic package offered. It’s great for beginners because it has no monthly maintenance charge and no monthly minimum balance requirement. Plus, there’s unlimited check writing. You will need $25 to open the account and have qualifying direct deposits totaling at least $500 within the first 90 days to earn the bonus. This offer is only valid in select states.
M&T Bank EZChoice Checking
Bonus amount
$200
How you get it
Make qualifying direct deposits totaling at least $500 within 90 days of opening the account.
Whey you get it
Within 90 days after the direct deposit.
The fine print
There’s a $50 early close-out fee if you close the account within 180 days of opening.
Expiration
April 30, 2023
More Information About M&T Bank EZChoice Checking
M&T Bank has more than 700 branches and 1,800 ATMs with operations in New York, Maryland, New Jersey, Pennsylvania, Delaware, Connecticut, Virgina, West Virginia, Vermont, Massachusetts and Washington, DC, but you can also do your banking entirely online.
M&T Bank MyChoice Plus Checking
Best for Loan Seekers
Key Features
Discounted loan rates
ATM fee reimbursement
Interest-bearing options
The MyChoice Plus Checking account from M&T Bank requires extra work to avoid a monthly fee ($14.95): Either maintain an average daily balance of $2,500 or receive $1,500 in direct deposits each month. With this account, you qualify for discounted loan rates with M&T. You will need $25 to open the account and have qualifying direct deposits totaling at least $500 within the first 90 days to earn the bonus. This offer is only valid in select states.
M&T Bank MyChoice Plus Checking
Bonus amount
$200
How you get it
Make qualifying direct deposits totaling at least $500 within 90 days of opening the account.
When you get it
Within 90 days after the direct deposit.
The fine print
There’s a $50 early close-out fee if you close the account within 180 days of opening.
Expiration
March 31, 2023
More Information About M&T Bank MyChoice Plus Checking Account
M&T Bank has more than 700 branches and 1,800 ATMs with operations in New York, Maryland, New Jersey, Pennsylvania, Delaware, Connecticut, Virgina, West Virginia, Vermont, Massachusetts and Washington, DC, but you can also do your banking entirely online.
M&T Bank MyChoice Premium Checking
Best for CD Rates
Key Features
Discounted loan and premium CD rates
ATM fee reimbursement
Interest-bearing checking
The MyChoice Plus Checking account from M&T Bank requires extra work to avoid a monthly fee ($24.95): Either maintain an average daily balance of $7,500 or $25,500 across all M&T accounts. With this account, you qualify for discounted loan rates and premium CD rates with M&T. You will need $25 to open the account and have qualifying direct deposits totaling at least $500 within the first 90 days to earn the bonus. This offer is only valid in select states.
M&T Bank MyChoice Premium Checking
Bonus amount
$250
How to get it
Make qualifying direct deposits totaling at least $500 within 90 days of opening the account.
When you get it
Within 90 days after the direct deposit.
More information
There’s a $50 early close-out fee if you close the account within 180 days of opening.
Expiration
April 30, 2023
More Information About M&T Bank MyChoice Premium Checking
M&T Bank has more than 700 branches and 1,800 ATMs with operations in New York, Maryland, New Jersey, Pennsylvania, Delaware, Connecticut, Virgina, West Virginia, Vermont, Massachusetts and Washington, DC, but you can also do your banking entirely online.
Bank of America Advantage Banking
Best for Standard Checking
Key Features
Monthly maintenance fees (very by account)
Standard checking accounts
Fees can be waived
Open your new checking account online using the promo code DMF100CIS. Qualifying direct deposit must be regular monthly income, such as salary or pension payments. Advantage Banking checking accounts come in three levels: SafeBalance, Plus and Relationship. All three carry monthly maintenance fees that can be waived by meeting direct deposit and minimum balance requirements.
Bank of America Advantage
Bonus amount
$100
How to get it
Receive direct deposits of at least $1,000 within 90 days.
When you get it
Within 60 days of completing requirements.
More information
Monthly fees can be waived
Expiration
June 30, 2023
More Information About Bank of America Advantage
Bank of America’s Advantage account is broken into three tiers: SafeBalance Banking, Plus Banking, and Relationship Banking. SafeBalance boasts no overdraft fees or non-sufficient funds fees; Plus offers multiple ways to waive the monthly service fee; and Relationship earns interest (though the percentage is quite low).
SoFi Checking and Savings Account
Best for High APY
Key Features
Up to 3.75% APY
Fee-free overdraft coverage
Early access to paycheck
The SoFi bank account currently has the highest APY of any account on our list. Plus, it has one of the highest new customer bank bonus offers: up to $250. Other highlights of this account include early access to your paycheck with direct deposit, no-fee overdraft coverage, automatic saving features and up to 15% cash back when you shop local. Plus, there are no monthly account fees.
SoFi Checking and Savings Account
Bonus amount
Up to $250
How to get it
Earn qualifying direct deposits totaling $5,000+ within 25 days.
When you get it
Within 14 days of the end of the 25-day evaluation period.
The fine print
Direct deposits totaling $1,000 to $4,999 for $250 bonus; $1,000 to $1,999 for $50 bonus.
Expiration
March 31, 2023
More Information About SoFi Checkings and Savings
SoFi’s online bank account certainly rewards members for spending and saving. The account, which doubles as a checking and savings account, allows you to organize your savings into vaults so you can work toward your goals. You’ll earn 3.75% APY on money in savings and 2.50% on checking funds, and when you shop local, you can earn up to 15% cash back. The bonus is tiered; to get the full $250 bonus, make sure your qualifying direct deposits total $5,000 or more.
BMO Harris Smart Advantage Account
Best for Fee-Free ATM Network
Key Features
No monthly fee if you go paperless
Standard checking account
Fee-free transactions at 40,000+ ATMs
Get a $200 bonus for opening a new BMO Harris Smart Advantage account and earning at least $4,000 in qualifying direct deposits within 90 days. This entry-level account grants you unlimited fee-free transactions at over 40,000 in-network Allpoint ATMs and 1,400 BMO Harris ATMs in the US. The bank has physical branches in IN, IL, AZ, MO, MN, KS, FL and WI, though you can open an account online.
BMO Harris Smart Advantage Account
Bonus amount
$200
How you get it
Receive direct deposits of at least $4,000 within 90 days.
When you get it
Approximately 100 days after opening.
More information
Monthly fees can be waived with paperless statements.
Expiration
May 12, 2023
More Information About BMO Harris Smart Advantage
Smart Advantage is BMO Harris’ most popular checking account. It requires no minimum balance, charges no monthly fees when you opt for paperless statements and gets you fee-free access to 40,000+ ATMs nationwide with the Allpoint network.
BMO Harris Smart Money Account
Best for No Minimum Balance
Key Features
No monthly maintenance fees if under 25
Standard checking account
No overdraft or NSF fees
Get a $200 bonus for opening a new BMO Harris Smart Money account and earning at least $4,000 in qualifying direct deposits within 90 days. This standard account grants you unlimited fee-free transactions at over 40,000 in-network Allpoint ATMs and 1,400 BMO Harris ATMs in the US. The bank has physical branches in IN, IL, AZ, MO, MN, KS, FL and WI, though you can open an account online.
BMO Harris Smart Money Account
Bonus amount
$200
How to get it
Receive direct deposits of at least $4,000 within 90 days.
When you get it
Approximately 100 days after opening.
More information
There is a monthly fee if you’re over 25.
Expiration
May 12, 2023
More Information About BMO Harris Smart Money Account
Like Smart Advantage, BMO Harris’ Smart Money has no minimum balance required. It’s also noteworthy for having no overdraft or NSF fees. With this account, you will get unlimited fee-free transactions at in-network ATMs (40,000+ nationwide). However, you’ll pay a monthly fee if you’re 25 or older.
BMO Harris Premier Account
Best for High Interest Possibility
Key Features
Interest tied to balance
High-yield checking account
Unlimited ATM transactions
Get a $350 bonus for opening a BMO Harris Premier account and earning at least $7,500 in qualifying direct deposits within 90 days. The more you have in the account, the more interest you earn. Monthly maintenance fees can be waived if certain requirements are met. The bank has physical branches in IN, IL, AZ, MO, MN, KS, FL and WI, though you can open an account online.
BMO Harris Premier Account
Bonus amount
$350
How to get it
Receive direct deposits of at least $7,500 within 90 days.
When you get it
Approximately 100 days after opening.
More information
There is a monthly fee.
Expiration
May 12, 2023
More Information About BMO Harris Premier
The highest bonus at BMO Harris comes from the Premier Account with Relationship Packages that reward you with more perks for banking more with BMO. The account earns interest, and the amount you earn increases with the amount of funds in the account. You also get unlimited access to any ATMs, in-network or not.
PNC Virtual Wallet
Best for ATM Power Users
Key Features
Geographic based
No minimum balance to open
Digital financial tools
The PNC Virtual Wallet includes three different Spend accounts: the baseline account, Performance Spend and Performance Select. All three require no minimum balance to open and get access to 60,000 ATMs nationwide; the premium Performance Select account also reimburses fees at out-of-network ATMs.
PNC Virtual Wallet
Bonus amount
Up to $400
How to get it
Qualifying direct deposits must be received within 60 days of account opening
When you get it
60 to 90 days after meeting bonus conditions
The fine print
Monthly service fees ranging from $7 to $25 if conditions aren’t met
Expiration
Jan. 2, 2023
More Information About PNC Virtual Wallet
PNC bonus offers are based on the type of account you open and receipt of qualifying direct deposit. This offer is good in specific states throughout the country. Your ZIP Code will be used to determine if you are in a participating state.
You’ll earn:
$50 when you open and use a base Virtual Wallet account.
$200 when you open and use Virtual Wallet with Performance Spend.
$400 when you open and use Virtual Wallet with Performance Select.
To waive the Virtual Wallet monthly maintenance fee ($7), earn $500+ in monthly direct deposits to the Spend account or maintain a $500+ monthly balance across the Spend + Reserve accounts. If you’re 62 or older, the fee is automatically waived. Waiving fees on Performance Spend and Performance Select is also possible, if you meet specific criteria.
Axos Rewards Checking Account
Best for Unlimited ATM Reimbursements
Key Features
No monthly balance requirements
No overdraft or NSF fees
Up to 1.25% APY
Axos continues to land on our roundup of best online checking accounts because of the high APY (up to 1.25% APY), lack of overdraft fees and unlimited domestic ATM fee reimbursement. With Axos, you’ll have zero monthly maintenance fees, and it only takes $50 to open.
Axos Rewards Checking Account
Bonus amount
$100
How to get it
Open new account with code RC100 and set up direct deposits of at least $1,500.
When you get it
Within 30 days of the 90-day waiting period
The fine print
The full 1.25% APY requires additional accounts (loan and investment).
Expiration
March 31, 2023
More Information About Axos Reward Checking
The Axos Reward Checking is one of the accounts on this list that is so good that we would recommend considering it even without the bonus. In fact, it’s ranked one of the best online banks for 2023.
If you are tired of overdraft fees, want real earning potential from your checking account and frequently utilize an ATM, this is the bank to go with, as long as you’re OK with an online-only experience.
How to Search for Bank Account Bonuses on Your Own
Instead of listing approximately 193 bank promotions, we kept this list short and sweet — only highlighting the best bank promotions for checking and savings accounts.
But maybe you’re interested in banking with your local credit union, opening a small business checking account or exploring what investment accounts are available. There are often cash bonuses attached to these accounts too.
Banks don’t always make finding these promotions easy, so here are a few tips to help you get your hands on that cash bonus.
Check the bank website first. Sometimes it’ll advertise its offers with a blaring promo code. This is rare, but it’s worth a quick check — it could save you a ton of time.
Reach out to customer service. Let them know you’re shopping for a new account, and you’d like to know if the bank is running any promotions. More often than not, the nice representative will send you a special link.
Google the best bank account bonuses. You’ll likely dig up some offers from third-party sites, so make sure the offer:
Hasn’t expired.
Is legitimate. Make sure the bank is FDIC-insured and has a positive Better Business Bureau rating. Read some online reviews.
Doesn’t require outrageous qualifying activities. For example, it might not be realistic for you to maintain an average daily balance of $50,000.
Reach out to your own network to crowdsource bank recommendations. Sometimes banks have impressive referral programs, so both you and your friend could benefit from you signing up.
Overall, be smart. Don’t let the promise of a cash bonus blind you. Read the fine print so you don’t get stuck paying high monthly fees, interest rates or closing penalties.
Will Opening a Bank Account Hurt Your Credit Score?
If you’re worried that opening a new bank account or closing an old one will hurt your credit score, don’t be. Your bank accounts are not included in your credit report and therefore have no effect on your credit score, unless you have an outstanding negative balance that the bank turns over to a collection agency.
Sometimes when you go to open a new bank account, banks will do a soft credit check. However, that won’t affect your credit score.
Timothy Moore covers bank accounts for The Penny Hoarder from his home base in Cincinnati. He has worked in editing and graphic design for a marketing agency, a global research firm and a major print publication. He covers a variety of other topics, including insurance, taxes, retirement and budgeting and has worked in the field since 2012.
Editorial Disclosure: This content is not provided by the bank advertiser. Opinions expressed here are the author’s alone, not those of the bank advertiser. This site may be compensated through the bank advertiser Affiliate Program.
Relationships benefit from regular date nights. You can turn off the rest of the world for a little while, and just be a couple. There are a lot of ways to have date nights, whether you are in the same room, or hundreds of miles apart.
Many couples have had to deal with physical distance. Remote working isn’t the only reason couples may be apart. One could be on a military deployment or an out-of-town assignment. Then, of course, there are couples in long-distance relationships. Thanks to technology, there are some ways to re-create a date experience via long distance.
Sometimes being creative with your time together is more rewarding and romantic than a fancy (and expensive) dinner out. Read on for our best ideas for at-home date nights.
Kenny and Celina Beaumont have a date night in the backyard of their home in Orlando, Florida. Photo courtesy of Kenny and Celina Beaumont
We Have Lots of Date Night Ideas for Just a Few Dollars
If you’ve been with your sweetie for a while, it can be tough to find something special to do when you’re spending most of your time together. And if you’re in a long-distance relationship, it’s hard to establish a connection when you’re apart.
But there are still free and low-cost ways to keep up the date night tradition.
Although they’ve been married for over a decade, Kenny and Celina Beaumont have always realized the importance of romance — especially after having kids.
“If we’re not happy and having fun,” Celina said, “our household’s not going to be happy and having fun.”
They kept their long-standing date night tradition alive through the pandemic with some pretty adorable dates — one of which you may even have seen a glimpse of on John Krasinski’s “Some Good News.” (Look for the fine dining experience around 7:55!)
But dinner dates are just the beginning. Here are some of our favorite at-home date night ideas.
At-Home Date Night Ideas if You’re Together
Fancy dining experience
Ballroom (or any other kind) of dancing
Game night
Virtual home town tours
At home DIY spa
Relationship scavenger hunt
Do a jigsaw puzzle
Play sexy MadLibs
Find a starry sky
Go on a late-night drive
If you were already cohabitating, there are plenty of ways to set aside some special time for each other.
1. Fancy Dining Experience
You can definitely recreate the restaurant experience at home, complete with dressing up for the occasion and actually sitting down and being waited on. That’s exactly what the Beaumonts did. According to Celina, Kenny and the kids had been conspiring about the idea for several days before surprising her.
They printed real menus, got dressed up and dined al fresco on a three-course meal at “Jack & Olivia’s” — so named for their kids. Kenny cooked up the steaks, while the kids made the salad and dessert.
2. Ballroom (or Any Other Kind of) Dancing
You might not make it out to your local Arthur Murray studio, but that doesn’t mean you can’t learn how to dance. Some couples’ counselors suggest that a tango or two can be as good for your relationship as it is fun.
Crank up a YouTube video, clear out a spot on the living room floor, and give it a whirl. After all, nobody except your SO — and maybe the cat — is watching. Make you could even do a TikTok dance challenge. Just think, you could go viral.
3. Game Night
It might not sound like the peak of romance to some, but sitting down to a game of Scrabble or Chess together is a great way to spend some quality time while also giving your brain a workout. If you’re really geeky, you might even take on a match or four of Magic: The Gathering.
We recommend adding fancy duds to the equation to make it feel even more date-y.
4. Virtual Hometown Tours
If you didn’t grow up in the same place as your SO, and you’ve yet to show them around in person, Google Earth offers a great date night opportunity: a virtual tour of your hometown, complete with stops at all the most important places.
Even if you hail from the same place (or have already gone home to meet the parents), you could use Google Earth or Google Maps to show your sweetheart around your college campus — or explore a city you’re hoping to visit together someday.
5. At-Home DIY Spa
Treat yourself — and your beau — to some DIY indulgence. Whether you give each other manicures, facials, or massages, it’s bound to be a whole lot more affordable (and considerably more fun) than it would be in a salon. Check out this list of spa treatments you can do at home.
6. Relationship Scavenger Hunt
Use your imagination and create a fun date by leaving clues for each other, which will lead to a payoff for the winner(s). The easiest way to create a scavenger hunt is by first deciding what the prize will be. Both of you agree on how long you want it to last. Then plan it by working backwards from the last clue. Here’s a site with a lot of romantic scavenger hunt ideas.
7. Do a Jigsaw Puzzle
This can be a fun competition (who can get their section done first!) or a romantic cooperation. Two sets of eyes can make a puzzle come together quickly. Build rewards for finishing the corners or the outline. Plus when your hands are busy it is easier to talk about things.
8. Play Sexy MadLibs
Why not get a little ridiculous. Download these Mad Libs — a word game where one person gets a list of words from the other without context -— or make your own. Concentrate on being silly and spicy.
9. Find a Starry Sky
Looking up at a star filled sky next to your love is just about as romantic as it gets. You can slow down time and feel part of the bigger whole, just from your backyard or a (safe) local park. If you do a little research first (try using a free skywatching app like Star Walk 2 or Sky View) you will know the best time to lay out, and which part of the sky to look at.
If there is a lot of light pollution, binoculars and telescopes bring the nighttime sky much closer. Extra bonus points for knowing some romantic starry quotes, maybe some E.E. Cummings.
“Yours is the light by which my spirit’s born/you are my sun, my moon, and all my stars.”
10. Go on a Late Night Drive
This isn’t exactly at home, but starts there. Even though gas is a little expensive, this will be worth it. Drive around fancy neighborhoods and imagine living in the houses, or through downtown and see what it actually looks like when you aren’t scouting for a parking place. Drive out to the beach or shore, or over a bridge and stop at the other end for a kiss. Driving with no place to go, just listening to music and chatting, is incredibly romantic.
Tips for Successful At-Home Date Nights
Even with the best of intentions and lots of planning, it’s easy for an at-home date night to feel like … well, just another night at home.
Here are some tips to keep it feeling romantic.
Put away your phone. Celina and Kenny say they make a point of putting their screens down during dates.
Wait until after bedtime. It’s fun to get the kids in on the action — but if they go to bed earlier than you do, those couple hours of quiet can be a great time to rekindle your connection.
Look for the silver linings. Although staying home is hard in a whole lot of ways, it also offers a lot of opportunity for closeness, especially in a world where we’re usually running all over the place.
According to Earthweb, 14 million Americans are in long distance relationships, and 60% of long distance relationships are successful. Couples who are apart exchange an average of 343 texts a week!
Here are some date-night ideas if you’re apart from your sweetheart.
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At-Home Date Night Ideas if You’re Apart
Virtual coffee (or cocktails)
Reading to each other
Live streaming concert or events
Virtual movie nights
Art therapy
Attend a virtual art lecture together
Write letters to each other
Take an online class together
Feed travel or house dreams
Take a goofy quiz together
Many couples have had to deal with one of them being far away. It could be a military deployment, an out of time assignment, or a regular regional route. Maybe one of you is newly working remotely miles away. Thanks to technology, there are some ways to recreate a date experience even if you’re miles apart.
According to Earthweb, 14 million Americans are in long distance relationships. 60% of long distance relationships are successful. Of that 40% who aren’t, the 63% of the time, the culprit is a lack of planning for their future. Couples who are apart exchange an average of 343 texts a week!
11. Virtual Coffee (or Cocktails)
Video call applications like Zoom and FaceTime make it easy to re-create classic low-stakes, first-date ideas like grabbing a drink or a cup of coffee. It’s a good way to catch up on what is going on, make plans for when you are together again, and give a sense of normality to the relationship.
12. Reading to Each Other
This one’s super romantic whether you’re at home together or apart. If you’re not in the same place, you can read to each other over video chat or over the plain-old phone.
The options are endless: You could pick a book neither of you have read before or revisit an old favorite.
13. Live Streaming Concerts and Events
From superstars to local up-and-comers, lots of entertainers have transferred their live shows to streaming services. Many are free, though it’s nice to drop a tip for these struggling artists.
Re-create the concert experience at home with a cocktail and maybe a band T-shirt, and enjoy unlimited bathroom breaks without having to snake through a pushy crowd.
14. Virtual Movie Nights
There’s nothing quite as cozy as snuggling up with your sweetheart for a movie, whether at the theater or on the couch at home. But even if you’re stuck apart, you can spend time in front of the silver screen together.
A browser extension called Teleparty easily syncs Netflix, Disney, Hulu and HBO videos for multiple parties while also providing a scrolling text chat along the right side of the screen.
If your movie or TV show is on another service — or if, quaintly and adorably enough, you’re going to watch the same DVD in separate houses at the same time — you can always hop on the phone and queue up the video. Don’t forget the popcorn!
15. Art Therapy
A seriously romantic idea for the bold: paint each other while on a video chatting app like FaceTime.
Rather than draw each other, you could simply spend time together being creative, whether that means knitting, cross-stitching, painting or something else entirely. You could even make plans to give each other the products of your art session.
16. Attend a Virtual Art Lecture Together
During the pandemic many museums started virtual curator tours of new shows. Google has an Arts & Culture app that lets you explore farflung arts destinations, insert your face into famous art works, and see famous art works at a macro level. If there is a city you both love to visit, choose one of the museums where you can see both familiar and new works.
17. Write Letters to Each Other
Here’s a low-tech romantic, long distance night that will only cost you a stamp. Write each other a romantic letter, and set up a time to read them out loud together over the phone or facetime. Sometimes it is easier to write how you feel than say it out loud. Best of both worlds — you get to write it and they get to hear it. Swoon.
18. Take an Online Class Together
You can sign up for online classes or study a language together. Duolingo is a free language app, and you can work on exercises and lessons virtually, practicing on one another. Or learn about mountains and maybe plan to meet on one soon. One extremely popular course is The Science of Well Being, offered through Yale, for free.
Working together on something that is low stakes can be fun and romantic, low cost and take only a couple of hours a week.
19. Feed Travel or House Dreams
Keeping a long distance relationship warm is going to involve some fantasizing, but we’re talking PG level here. Pick places you want to visit, or live, and go house hunting online. It is fun to look at homes you may never see IRL.
Or head over to home share sites like Airbnb or VRBO, and pick a fantasy place to go. Maybe you will be on an island in the Caribbean, or a villa outside of Rome. It might turn into a real trip some day, or lead to finding a part of the world you didn’t know you would be interested in.
20. Take Goofy Quizzes Together
There are plenty of websites that have quizzes, ranging from specifically about relationships, like the Love Language Quiz, which 80s movie character you were in high school, or play trivia games. You can each pick quizzes and the person with the best score gets to pick the next one. It’s always fun to laugh with your hunny bunny.
Tips for Successful Date Nights Spent Apart
Here are tips to make it feel more like you’re actually together.
Get dressed. It’s all too easy to lie around the house in pajamas all day and even attend your dates that way. Wearing real clothes can make you feel more like you’re on a real date.
Connect often. If you can’t be with each other in person, spending digital time together is extra important. Maybe try to move your date night tradition from one night a week to two or three. Text each other every morning a picture of the clouds or breakfast, or one at the end of the day of the moon.
The Penny Hoarder contributor JoEllen Schilke writes on lifestyle and culture topics. She is the former owner of a coffee shop in St.Petersburg, Florida, and has hosted an arts show on WMNF community radio for nearly 30 years. Jamie Cattanach is a former contributor. Senior Editor Katie Sartoris contributed to this report.
Does the thought of doing your taxes on top of caring for your kids make your head spin?
Take a deep breath: We found nine tax breaks for parents.
Whether your children are swaddled newborns or seeking college degrees or whether you’re single, married with kids or adopted this year, you’re eligible to get some money back on tax day.
9 Benefits and Tax Credits for Parents
Here are the top tax credits and deductions for parents to keep in mind.
1. Out-of-Pocket Medical Expenses Related to Pregnancy
If you had a baby last year, paid out of pocket for medical expenses during your pregnancy and were never reimbursed, you’ll be able to itemize those amounts as deductions.
As of 2022, this tax code requires the expenses exceed 7.5% of your adjusted gross income. That might seem unreachable, but since you’ll be billed item by item for prenatal care and childbirth, it can start to add up.
2. Child Tax Credit
As soon as your child is born, you’re eligible for the Child Tax Credit, which pays up to $3,600 for every child under the age of 17, depending on your income.
This might seem obvious, but it’s important to note: Even if your child is born on Dec. 31, you can still claim them for that year.
The credit is between $2,000 to $3,000 per child for children between the age of 6 and 17, and from $2,000 to $3,600 for children under the age of 6. All working families will get the full credit if they make up to $150,000 per couple or $112,500 for a single-parent family.
3. Adoption Tax Credit
The adoption process is notorious for being lengthy and expensive.
The Adoption Tax Credit is worth up to $14,890 per child to help you alleviate that financial strain. This credit covers adoption fees, court costs and attorney fees, travel expenses and related expenses.
4. Earned Income Tax Credit
If you earned income last year but didn’t exceed certain thresholds, you may qualify for the Earned Income Tax Credit, which can significantly reduce your tax bill.
The income limits depend on your filing status and how many children you have. For example, if you’re filing as single or head of household and have one qualifying child, you must have earned less than $43,492. If you’re filing jointly with your spouse and have three qualifying children, you must have earned less than $59,187.
The maximum amounts of credit vary slightly each year. For the 2022 tax year, the maximum amounts of credit were:
The cost for center-based daycare for one child can range anywhere between $221 per week for a family care center to $226 per week for a daycare or child care center, according to a 2021 survey by Care.com.
If you’re paying for child care, you may be able to get a chunk of that back on your taxes.
If your child is younger than 13 years old and you pay for child care while you’re either working or looking for work, you qualify for the Child and Dependent Care Tax Credit. According to the IRS, the amount of the credit varies. It is a percentage based on the amount of work-related expenses you paid to a care provider for the care of a qualifying individual.
In 2022, the amount of expenses you can use to calculate the credit can be no more than $3,000 for one qualifying individual and no more than $6,000 for two or more qualifying individuals.
Pro Tip
If you are worried about making mistakes when filing, we highly recommend using tax software like TurboTax or H&R Block.
6. Head-of-Household Status
If you’re single and have a child, don’t overlook this crucial item: your status.
If you file as a head of household, you’re automatically eligible for a lower tax rate than if you file as single.
To be considered the head of household, you must:
Be unmarried or considered unmarried on Dec. 31.
Contribute more than 50% of the financial support of the household.
Have a dependent who lives with you for more than six months of the year.
During the first four years of your child’s college education, you can claim up to $2,500 for tuition and related expenses under the American Opportunity Tax Credit.
Your child must attend college at least part time. The income threshold for individual parents is $80,000; married couples must earn no more than $160,000.
8. Lifetime Learning Credit
Unlike the American Opportunity Tax Credit, there is no limit to the number of times you can claim the Lifetime Learning Credit for education costs to lower your tax bill.
Worth up to $2,000, the LLC covers tuition and related expenses.
To qualify, your modified adjusted gross income must be less than $90,000 (or $180,000 if you’re filing jointly with your spouse).
Note: You can’t claim the AOTC and the LLC for the same person in a single year. Also, the AOTC is per student, while the LLC is per family.
9. State Tax Credits for Parents With Kids in Elementary or High School
Some states offer benefits for certain items or activities during the school year.
In Arizona, for example, if your kids attend public school, you’re eligible for a tax credit for any fees related to extracurricular activities, including sports equipment or uniforms. You can even qualify for the credit if you spent money on their SAT/ACT tests or prep classes.
Ask yourself two more questions before filing your return, putting up your feet and enjoying a well-deserved break.
Which Parent Should Claim the Child?
A tricky part of being separated or divorced is figuring out who is supposed to claim the child on their tax return.
To make the call, the IRS typically looks at where the child sleeps for more than half the year, but there are some special exemptions as to who can claim the child and when.
It gets a bit tricky, but this IRS chart answers a variety of questions you might have.
Does Your Child Work?
If your child has a job, make sure they file their own tax return.
Teens who work while in school usually don’t make enough money to have a liability. So, even though their employers have likely withheld taxes throughout the year, they’ll get them back in a refund check, which is a nice incentive.
We’re living longer than ever before, and doing so in better health. So what can you do when you retire and want to keep your mind sharp or need to gain additional skills to stay competitive at work?
For many, the answer is to go back to school. But tuition can be prohibitively expensive.
At the same time, schools want their classrooms to be full of engaged students, regardless of age. In the interest of continuing education, many colleges and universities offer reduced or free college for seniors (typically, adults 60 and up, although the rules vary).
In fact, we found at least one option in every state.
Free (or Cheap) College for Seniors in Every State
While some institutions only allow senior students to audit classes, many offer the chance to earn credits toward a degree at a reduced — or completely waived — tuition rate.
Does your state have a senior citizen education program you can use? Find out below!
1. Alabama
The Alabama Commission on Higher Education states that Alabama seniors can attend any two-year institution within the state tuition-free.
Adults 60 and older should contact the financial aid office at any community college for admission and eligibility details.
The University of Alaska waives tuition for senior-citizen residents who receive full Social Security benefits. Seniors must wait until the first day of classes to enroll to ensure that there’s space remaining; they must also complete a tuition-waiver form.
Additional costs such as student activity, health center and lab fees are not covered; the student must pay them directly.
Online courses may be included if offered; check with the admissions office for confirmation.
3. Arizona
All 10 campuses of Maricopa Community College allow senior citizens to take classes for credit at 50% of the full tuition cost.
Students 65 and older must register between the first and second class sessions of the semester to ensure space is available. You can register for in-person, online or hybrid classes.
4. Arkansas
Arkansas waives tuition for anyone 60 and over who wants to work toward an undergraduate or graduate degree at state institutions.
Student fees may apply, and senior citizens may register only for classes with space available. If you need online courses, check with your chosen college to see what options you have.
5. California
California State University waives all tuition for state-supported classes and dramatically reduces campus fees for residents age 60 or older.
Different Cal State locations may offer online courses or in-person classes. Students who attend in-person classes must provide proof of COVID-19 vaccination.
6. Colorado
Students age 55 and older may attend class on a space-available basis at Colorado State University. There is no tuition fee, but visitors don’t get credit for attending class. It is up to the instructor how participation and grading of assignments and tests are handled. CSU currently offers face to face, hybrid and online classes.
At the University of Colorado Denver, people 60 and older may enroll on a no-credit basis to attend up to two classes per semester as auditors when space is available. (Courses with a lab component are excluded, as are computer courses and online courses.)
7. Connecticut
Residents 62 and up may attend state colleges, including community colleges, for free on a space-available basis.
At Central Connecticut State University, for example, tuition is waived for any resident over the age of 62 who applies for full- or part-time admission for a degree-granting program. Online courses are included.
Senior students may also take noncredit courses on a space-available basis and have tuition waived. All students must still pay all other fees.
8. Delaware
The University of Delaware, Delaware State University, and Delaware Technical and Community College allow all permanent state residents age 60 or older to audit or take classes for credit for free.
At the University of Delaware, students wishing to use the program must apply for admission on a space-available basis. Some graduate degrees may be eligible, as well. Residents can register for online or in-person courses.
Participants must pay all related student fees and buy their own textbooks.
9. District of Columbia
Senior citizens 65 and up may audit undergraduate courses from Georgetown University’s School of Continuing Studies. These students pay a fee of $32 per credit, which means a three-credit course will cost $96.
To audit a course, there must be available space and the instructor of record must approve the enrollment.
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10. Florida
The Florida college system waives application, tuition and student fees for those age 60 and above, but colleges will award no credit and will grant admission on a space-available basis. Check to see whether your chosen college covers online courses as well as in-person ones.
Fun fact: Florida Atlantic University’s Lifelong Learning Society has the largest adult continuing education program in the U.S. It even has its own auditorium on campus to help serve FAU’s 30,000 new registrants each year.
11. Georgia
Georgia residents age 62 and above may take classes on a space-available basis for “little or no cost” at the state’s public colleges.
Seniors may choose to take classes for credit or continuing education, but they must apply through the regular admissions process at their school of choice. Many general education courses are offered online.
12. Hawaii
The Senior Citizen Visitor Program at the University of Hawaii and state community colleges allows senior residents age 60 and up to attend up to two courses per semester free of charge. Seniors who have been residents of Hawaii for at least one year may enroll in in-person, hybrid or online courses for no cost. It’s recommended but not required for students to be vaccinated against COVID-19. Students must demonstrate tuberculosis (TB) clearance by providing test results or a TB risk assessment form signed by a licensed U.S. health care provider.
Schools will not award credit nor will they keep permanent records of students’ class history.
13. Idaho
Programs in Idaho vary based on institution, but some schools offer good deals. The College of Southern Idaho offers free tuition for lower division courses for students aged 60 and older, in addition to other benefits. The college has online and in-person courses.
At Boise State University, Idaho residents who are at least 65 years old can audit classes on a space-available basis for free except for applicable special course fees. BSU offers online courses as well as in-person ones.
14. Illinois
Upon admission, senior citizens age 65 and up who meet income requirements can attend regular credit courses at Illinois public institutions for free. Lab, student and other fees still apply. Each institution will have guidance on registering for online or in-person classes.
15. Indiana
Indiana University offers programs that allow retired residents age 60 and older to take up to nine credit hours per semester and pay just 50% of in-state tuition fees. Courses are in person.
16. Iowa
Private institution Simpson College in Indianola allows people 65 and older to take one noncredit class for free per semester. Courses are open on a space-available basis and do not include lab courses. Online courses may be available.
17. Kansas
Tuition and fees are waived for students age 65 and older taking classes on a space-available basis. Residents must be admitted to a state-supported school to take advantage of this discount. Each school can also provide info on in-person versus online courses.
The registration process varies: The University of Kansas and Wichita State University, for example, require senior auditors to apply for admission. Online or in-person courses may be offered.
18. Kentucky
Tuition and fees are waived for students age 65 and older taking classes on a space-available basis. Residents must be admitted to a state-supported school to take advantage of this discount. Each school can also provide info on in-person versus online courses.
19. Louisiana
Students age 65 and up attending Louisiana state schools receive free tuition and 50% off books and materials at the campus student bookstore. Check with each school to see if online courses are included.
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20. Maine
Senior citizens 65 and up may attend undergraduate classes as degree-seeking or audit students in the University of Maine System for free, subject to space availability.
Each college within the system can provide info on the types of courses covered (i.e., online, in-person, hybrid).
21. Maryland
Any student in the University of Maryland System who is retired and over the age of 60 may have tuition waived for up to three courses per semester, even for degree-granting programs. Online courses are available as well as face-to-face offerings.
Online courses are available as well as face-to-face offerings.
22. Massachusetts
Residents age 60 or older can take at least three credits per semester at any state-supported school in Massachusetts and receive free tuition.
Each location has information on what online courses are offered.
23. Michigan
Opportunities for seniors in Michigan vary by institution.
At Michigan Tech, for example, students 60 and older can have tuition waived for up to two courses per semester. Seniors must apply through the admissions office.
Western Michigan University invites seniors 62 and older to register for one class per semester tuition-free, which may include online classes.
At Wayne State University in Detroit, seniors 60 and up receive a 75% discount on tuition but must pay registration and related fees. Wayne State offers some online courses.
24. Minnesota
Minnesota waives tuition for senior citizens 62 and older, but fees and online options may vary by school. At the University of Minnesota, seniors pay a $10 fee per credit, but they can audit for free.
25. Mississippi
There’s no statewide benefit in Mississippi, but some schools have programs for seniors.
Mississippi State University provides a waiver to residents age 60 or older for classes offered on the Starkville or Meridian campuses or by the Center for Distance Education. Seniors are limited to six semester hours per semester and a maximum of 18 credit hours per calendar year, where space is available. MSU offers online courses as well as traditional in-person ones.
The University of Mississippi’s Office of Professional Development and Lifelong Learning allows seniors 65 and older to take one class for free per semester (up to four hours) at any UM campus.
26. Missouri
Missouri residents age 65 and older are exempt from paying tuition at state-supported institutions for classes attended on a noncredit basis. Schools may limit the number of students who receive the tuition benefit based on space availability. Online classes are offered in addition to in-person ones.
27. Montana
The Montana University System offers a tuition waiver for in-state residents 65 or older. Campus and registration fees are not waived. Choose from online or in-person classes.
28. Nebraska
Chadron State College allows adults 65 and up to audit one course per semester for free. The college offers classes online and on campus.
29. Nevada
The University of Nevada, Las Vegas allows seniors 62 and up to take autumn and spring courses free of charge. They pay 50% tuition for summer classes. Lab and other course fees are not covered. Online courses may be offered.
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30. New Hampshire
The University of New Hampshire offers residents 65 and older free tuition for two credit-bearing classes per academic year on a space-available basis, so long as they’re not enrolled in a degree program. Courses are offered online or in person.
31. New Jersey
Rutgers University allows retired New Jersey residents 62 and older to audit courses for free in the spring and fall semesters at its Camden, New Brunswick and Newark campuses, space permitting. Current guidelines allow senior citizens to audit in-person or online classes if they have been fully vaccinated against COVID-19.
32. New Mexico
New Mexico offers reduced tuition of just $5 per credit hour to state residents 65 and older. Online courses are available.
For-credit classes are eligible as well as auditing; senior citizens can take no more than 10 credit hours per semester. The program is offered on a space-available basis, and students are responsible for paying any additional course fees.
33. New York
Many schools offer free or reduced tuition for senior citizens. Queens College allows residents 60 and up to audit any course on a space-available basis after completing a Senior Citizen Auditor Application and paying $80 per semester. Up-to-date COVID-19 vaccinations are required to enroll.
At SUNY Purchase, New York state residents 60 and older can enroll tuition-free in a maximum of two credit-bearing, on-campus courses in which space is available. They pay a $50 audit fee, $20 ID processing fee and any course fees. In-person, online and hybrid courses are available, and COVID-19 vaccinations are required for anyone coming on campus.
34. North Carolina
Tuition and registration fees are waived for residents 65 or older attending North Carolina community colleges. Senior citizens can take up to six credit hours per semester for free. Audit options may be available at other schools.
At the University of North Carolina Wilmington, for example, senior citizens may audit classes for free after getting the instructor’s permission and submitting an application. Lab, studio, performance, distance education, independent study, internship and special topic courses are excluded. Online courses are available for those who prefer them.
35. North Dakota
Programs vary by institution in North Dakota. At Bismarck State, for example, senior citizens 65 and older can audit one course tuition-free per semester on a space-available basis. They’re still responsible for other course fees. Some online courses are available.
36. Ohio
Ohio residents at least 60 years old may attend class at any state college for free. Senior-citizen students do not receive credit and can register only on a space-available basis. They are still responsible for special assessments, such as lab fees, that may apply.
Many Ohio state colleges offer online courses, as well as in-person and hybrid.
37. Oklahoma
Oklahoma state colleges and universities waive tuition and fees for senior citizens 65 and older who wish to audit classes on a space-available basis.
38. Oregon
Oregon State University allows senior citizens at least 65 years old to audit classes for free at a maximum of eight credit hours per semester.
The University of Oregon also waives fees for seniors 65 and older auditing classes on a space-available basis.
Online course options may be offered depending on availability.
39. Pennsylvania
Clarion University offers a tuition waiver for residents 62 and up to audit classes. At Bloomsburg University, you need to be only 60 to take tuition-free classes on a space-available basis.
There can be additional benefits at the community college level: Bucks County Community College, for example, waives for-credit course tuition for seniors 65 and up so long as they register after students who are paying full tuition. Many courses are offered online, though some in-person and hybrid options are available.
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40. Rhode Island
Tuition waivers can be requested from citizens over 60 at the Community College of Rhode Island. Seats are granted when there is space available.
All degree-seeking senior students must fill out a FAFSA. They also have to submit a Senior Citizens Means Test to verify they have limited income.
Proof of COVID-19 vaccination is required to attend in-person classes. There are also online classes.
41. South Carolina
Residents 60 and above can attend classes at state schools on a credit or noncredit basis, pending space available, for free. The school must grant admission via its normal procedures.
Technology, lab and other fees are the responsibility of the student. Many South Carolina community colleges offer online courses for those interested.
42. South Dakota
Residents 65 and older can attend public universities in South Dakota at 55% of the normal cost of tuition for undergraduate or graduate in-person courses on a main university campus.
Interested adults should apply through the regular admissions system, and the school will automatically grant the discount upon admission. Student fees are not waived.
Contact your chosen university to see whether online courses are offered.
43. Tennessee
The University of Tennessee allows senior citizens to enroll in undergraduate or graduate courses for $7 per credit hour with a maximum fee of $70.
Students will still pay application and course fees. Senior citizens can choose between online courses and in-person ones.
At the University of Texas at Dallas and Lone Star College, undergrad students 65 and older must maintain a 2.0 cumulative GPA to receive a tuition waiver for up to six credit hours per semester.
Check with each individual university to see which online and in-person classes are available for enrollment.
45. Utah
Utah residents age 62 and up may enroll tuition-free at a state institution, space permitting; a quarterly registration fee is required.
At the University of Utah, for example, seniors can audit most classes on a space-available basis and only have to pay a fee of $25 per semester, plus any special fees required. Call to see whether online classes are included.
46. Vermont
Vermonters over the age of 65 can audit one class per semester tuition-free on a space-available basis in the Vermont State College System. Students can take additional classes at a 50% discount of the tuition rate, either in person or online.
They’ll still have to pay administration and course fees for all classes.
47. Virginia
Under the amended terms of the Senior Citizens Higher Education Act of 1974, Virginia residents over 60 years old who earn a taxable income of less than $23,850 annually can audit up to three courses per term for free on a space-available basis at any public institution, either in person or online.
48. Washington
Institutions in Washington are required to partially or fully waive tuition fees for residents age 60 or older who are enrolled for credit on a space-available basis. Nominal fees may apply to students auditing courses.
Some schools limit senior citizens to a certain number of classes or credits; for example, Washington State University caps the waiver at six credits for the fall and spring semesters. Online programs are available.
49. West Virginia
Senior citizens 65 and older at West Virginia University seeking college credit must use the regular admissions form. Those wishing to be non-degree students pay just $5 to apply. WVU offers classes online or in person.
50. Wisconsin
Adults 60 and up may audit classes at the University of Wisconsin-Madison campus or at UW-Madison Online for free, where space is available.
51. Wyoming
At Laramie County Community College, senior citizens 60 and older pay only 20% of the resident tuition rate per credit hour, though they still need to pay any other course or online fees.
Northwest College offers adults 60 and older free tuition up to six credit hours per semester for on-site and online courses, as well as free entry to most college social, cultural and athletic events.
Prices vary depending upon the institution. Duke University, for example, has a $50 annual membership fee and then charges $50 to $175 per class. Senior citizens can choose to take classes online or in person.
OLLI classes don’t count toward a degree, but if you’re looking for personal development opportunities among older adults, these courses can provide opportunities that mix in the campus experience, too.
Contributor Catherine Hiles updated this post for 2023.
If you’re hoping to sell some gently used womenswear online or in-store, you might immediately think of laundry list of retailers. But when we’re talking about menswear, the answer is not so obvious. Where are the best places to sell your mens cast-offs, your unused suits or your lightly-worn ties?
Well, fret not, because there are options. Some of them are geared specifically toward men, while others are sites where you can sell your entire family’s clothes. We recommend starting with men’s consignment stores, but you’ll find a whole host of resellers on this list, both online and brick-and-mortar. For men, we suggest dividing your items into two categories: commonly worn pieces, like jeans or T-shirts; or designer items by luxury brands.
Read on to find out the best places to sell your vintage and used menswear.
5 Online Men’s Consignment Stores
Not having to carry your clothes around to a physical location will make your life easier. Some of these stores have both physical shops, while all of them have online options.
1. Grailed
Grailed’s name is a nod to the slang term “grail,” meaning an item that is hard to find and, therefore, in demand,, and it bills itself as a “one-stop destination for buying, selling and exploring menswear and womenswear.” The site claims to be the largest men’s fashion marketplace, and it’s a place where you can find brands like Alexander McQueen and Dries Van Noten as well as Adidas and Supreme.
If that feels a little out of your price range, don’t worry — Grailed has other categories, where you can shop and sell items like sweatpants and joggers, slip-on shoes and polos.
What makes Grailed popular with buyers is that it’s free. For sellers, the benefit is its low 9% commission fee. There’s no barrier to entry, but you set the price for your items, so they may take longer to sell than they would on a site that sets the price for you. There is also a payment processing fee for transactions conducted with Grailed Payments or PayPal.
Grailed offers buyer and seller protection through its own system, Grailed Payments, meaning that any disputed charge can warrant a full refund. PayPal has its own buyer and seller protection. There are two kinds of offers, binding and non-binding. A binding offer means that the payment must be completed immediately if the seller accepts, whereas a non-binding offer means the buyer does not have to purchase the item even if the seller agrees to their offer. With PayPal, all offers are binding, but if buyers choose to use Grailed Payments, all offers are currently non-binding.
2. The RealReal
As its name implies, The RealReal prides itself on authenticity. While all of the sites on this list forbid replicas and knockoffs of brand-name items, The RealReal takes it one step further by employing trained professionals — from gemologists to brand experts — to ensure every item it offers is the real thing. Your item must pass a rigorous inspection before the site will list it.
The RealReal has a fairly hands-off selling process for the seller. Just send in your items, schedule a pick-up or drop them off. Once the site gets your clothing (or anything else you’ve sent), they’ll authenticate, photograph and price everything for you. Anything that doesn’t work—whether it’s deemed inauthentic or unsellable—will be sent back to you.
The RealReal’s structure works by rewarding sellers the more that they sell and the higher the price. The percentage a seller earns is broken down by item and price of item sold. Here is a full list — the highest percentage earned by the seller is 85%.
Some examples include:
If you sell men’s sneakers worth between $200 and $299, sellers earn 55% of the price.
If you sell clothing between $300 and $749, you earn 60% of the sales price.
All items under $149 are tiered by commission. Items from $0 to $99 earn the seller 20% of the price, while items between $100 and $149 earn sellers 30% of the price.
There is also a tiered system that allows sellers to earn VIP status. Here’s how that works.
A Trendsetter, or someone with net sales under $1,499, earns standard commission.
An Influencer, with net sales between $1,500 and $4,999, can add 1% to the standard commission.
A Tastemaker, with net sales between $5,000 and $9,999,, can add 2% to standard commission.
A VIP, with net sales above $10,000, can add 5% to standard commission.
3. Menswear Market
Menswear Market touts itself as taking some of the guesswork (and legwork) out of reselling your items by offering personalized services like shipping, customer service and all of the sales work. .
Menswear Market may sell your pieces on its own website, through its selling account on eBay or at in-person sale events. To get started, sellers must contact Menswear Market and see if their clothes are eligible. If so, they can ship them at no charge. Each month, the seller will get 60% of the total money their items net.
Menswear Market is a great option for the seller with no time and access to “high-quality designer and upscale brands.”
4. Linda’s Stuff
Don’t let the name fool you — Linda’s Stuff isn’t just for women’s clothing and accessories. It also has a sizable men’s section with everything from jeans to shoes to swimwear.
This company strives to sell your luxury items at a price that will net you the most money and interest the most buyers. The team does most of the work itself, from photography, to research, to pricing, to authenticating.
The team increases demand for an item by listing it at first for auction on eBay. If it doesn’t sell in seven days, they then choose a fixed price—with a best offer option—and create a listing. The fact that all items have free shipping is particularly enticing for buyers. (To offset this, the company adds $10 to the listing price, which they will take out when calculating your commission.) The company lists items for one year, but if they don’t sell in that time, it is the consignor’s responsibility to initiate the return process.
Like many online consignment stores, Linda’s Stuff pays sellers based on how much they sell and how much money they make for the site. For items at $999 or less, sellers receive 60% of the sale. For items that go for $1,000 or above, sellers get 75% of the sale. If you hit $5,000 or more, sellers get 80% of the sale price. It’s important to note that Linda’s Stuff wants items with a resale value of more than $49 to qualify.
5. Poshmark
You may have heard of Poshmark — it’s one of the most popular sites for secondhand resellers and buyers. But did you know they have a men’s section?
Listing an item on the platform is easy. It just involves making an account, uploading a photo of your item with a description and listing it. You set the price.
Poshmark takes a commission in a sliding scale form, much like other platforms. For sales below $15, Poshmark takes a commission of $2.95 per sale. For sales of $15 or more, Poshmark takes 20% commission.
A site like Poshmark is good for a seller who doesn’t have high-end designer items, is willing to put in a little bit of work and wants to keep the bulk of their earnings.
Brick-and-Mortar Men’s Consignment Stores
If you want to sell your clothes in-person, then we have the options for you. Well Suited and Crossroads Trading operate online, too.
6. Well Suited
From the same people who brought you women’s consignment site My Sister’s Closet and home furnishings consignment site My Sister’s Attic, Well Suited has retail stores in Arizona. It also allows shoppers to browse and purchase items online.
Cute (or, one could argue, “handsome” in this case): brand-name designer items, whether classic or trendy, that retail for at least $75
Clean: in like-new, ready-to-wear condition
Current: stylish and no more than four to five years old
You can receive 45% of the item’s sale price in cash or 55% in store credit. Designer bags and jewelry, or anything that goes for more than $4,995, can net up to 70% in commission.
7. Plato’s Closet
Plato’s Closet focuses on teen and young adult clothing and accessories — for guys, this includes athletic shoes, coats, jeans, shorts and tanks in brands including Levi’s, PacSun, Sperry, Converse and Under Armour.
Check here to see if there are any locations in your area. If there are, you can stop by with your items and an ID, and a sales associate will review your stuff while you browse the store’s racks.
Unlike other consignment stores that pay you when your items sell and take a cut as commission, Plato’s Closet buys your items outright and stocks them for resale — so once you receive and accept its quote, you walk out with cash.
The price per item will likely not be as high as luxury consignment stores. But if you’re looking for a quick, easy way to unload your unwanted stuff and get a few bucks, Plato’s Closet is worth checking out.
Buffalo Exchange lists what each location is looking for here, but in general, stores are almost always seeking everyday staples, plus sizes and any menswear. That means guys are in luck!
9. Crossroads Trading
Crossroads Trading offers flexible options for the most flexible of customers — sellers can sell in-store, drop off their goods in store, sell by consignment or sell by mail. The deal is simple: if you trade for credit, you get 50% of the sales price of your clothes. If you want cash right away, you get 30% of the sales price.
Like Buffalo Exchange and Plato’s Closet, Crossroads is a good option for a buyer who wants to leave the store with cash right away. The store has locations in various parts of the country.
Writer Elizabeth Djinis is a contributor to The Penny Hoarder, often writing about selling goods online through social platforms. Kelly Gurnett is a former contributor to The Penny Hoarder.
E*TRADE is one of the most popular online brokers and even has a physical footprint in the U.S. There are 30 branch locations located throughout the U.S. Some branches are still temporarily closed due to the pandemic, but most are open by appointment only.
New investors can learn the ropes quite easily with E*TRADE’s wealth of educational content, but experienced investors also have a home with E*TRADE via the more advanced Power E*TRADE platform.
New investors can learn the ropes quite easily with E*TRADE’s wealth of educational content, but experienced investors also have a home with E*TRADE via the more advanced Power E*TRADE platform.
In addition to the core brokerage accounts, E*TRADE offers a Custodial Account, an Education Savings Account (ESA), traditional bank accounts (including two checking accounts), managed portfolios for passive investors and a full suite of personal and small business retirement accounts.
E*TRADE has been a staple of online trading for many decades. It was founded in 1982 and had its first online trade the year after. It currently employs more than 4,000 workers, has 30 branches across the United States and was acquired by Morgan Stanley in 2020.
In this E*TRADE review, we’ll explore all elements of the financial institution, but we will specifically look at the core E*TRADE trading platform and the more elegant Power E*TRADE platform for experienced investors.
E*TRADE Brokerage Account
Best for Hands-On Beginners
Key Features
No commissions on stocks and ETFs
A massive library of educational resources
No account minimum
The core E*TRADE brokerage account comes with an easy-to-use online platform also delivered via a stellar mobile app. With access to tutorials, articles, videos and other digital educational content, E*TRADE makes it easy for beginner investors to trade for themselves. Stocks and ETFs are commission-free. You can open this account as an individual or joint.
E*TRADE Brokerage Account
Account minimum
$0
Trading fees for stocks and ETFs
$0
Trading fees for mutual funds
Prices vary
Trading fees for options
50¢ to 60¢
Trading fees for bonds
$1 per bond
Trading fees for futures
$1.50
More Information About E*TRADE Brokerage Account
The core brokerage account from E*TRADE is notably strong thanks to its diverse offering of tradable securities and low (or no!) fees. The wealth of educational content about investing and personal finance is staggering, and the online platform and accompanying mobile app are easy to use. Unless you are a highly experienced investor, we recommend you stick with the basic platform for E*TRADE’s brokerage account.
However, if you are a veteran investor and are looking for an advanced investment tool, consider using the Power platform (with its own app). Though not a different brokerage account, this trading platform gives you much more at your disposal.
Power E*TRADE Platform
Best for Experienced Investors
Key Features
No commissions on stocks and ETFs
Specialized resources for strategic investors
No account minimum
If you are a veteran investor, make use of the Power E*TRADE platform for your brokerage account. It’s not a separate account, so you’ll notice all the trading fees detailed below are the same. What makes this platform unique is the set of tools that you can use to find opportunities and test strategies.
Power E*TRADE Platform
Account minimum
$0
Trading fees for stocks and ETFs
$0
Trading fees for mutual funds
Prices vary
Trading fees for options
50¢ to 60¢
Trading fees for bonds
$1 per bond
Trading fees for futures
$1.50
More Information About Power E*TRADE Platform
The Power E*TRADE platform is advantageous if you know what you’re doing — but it can be overwhelming if you don’t. If you are brave enough to unlock this platform’s features, here are some of the resources you can expect:
Technical Pattern Recognition
Earnings Move Analyzer
Risk/Reward Probabilities
Custom & Preset Scans
Powerful Charts
Exit Plan
Paper Trading (to test out strategies without committing)
With this more advanced view of your investments, you can take additional actions you cannot within the basic platform, like place multiple stocks, ETFs (exchange-traded funds), options and futures on a single trade ticket; access interactive charts and 100+ studies to research potential trades; and play out options strategies with the customizable options chain.
If all that sounds way too complex for your knowledge level, it’s better to stick with the core E*TRADE trading platform. But the fact that E*TRADE offers these advanced features free of charge is a differentiator in the market.
E*TRADE Review: Key Features
In this section, we’ll break down the fees, tradable securities, offerings and key features of E*TRADE to make sure if it’s the right fit for you.
E*TRADE at a Glance
Feature
Details
More Details
Fees
No commission
On Stocks or ETFs
Tradable Securities
Stocks, mutual funds
Options, bonds, futures
Managed Portfolios
Blend
Fixed income; core
Retirement Accounts
Individual
Small business
Bank Accounts
Savings and checking
Line of credit
Educational content
Large digital library
Investing tools
Mobile Apps
High ratings
iOS and Android
Sign-Up Process
Under 10 minutes
Funding slow
Customer Support
Phone; social media
Branches closed for now
E*Trade Fees
E*TRADE is a great platform to trade stocks and exchange-traded funds because there are absolutely no commission fees. You will, however, pay fees for trading mutual funds, options, bonds and futures.
Trading Fees at E*TRADE
Security
Trading Fee
Additional Details
Stocks
$0
U.S.-listed stocks
ETFs
$0
U.S.-listed ETFs
Mutual funds
Prices vary
4,400+ no-fee funds f
Options
50¢-60¢/contract
50¢/30+ trades/a quarter
Bonds
$1 per bond
$10 min., $250 max.
Futures
$1.50/contract, per side
Plus fees
Our Take: Commission-free trading for stocks and ETFs is a great reason to consider E*TRADE. Coupled with the massive library of educational resources (more on that below), free trades make E*TRADE a top contender for best online brokerage accounts. And though active traders will pay for things like mutual funds and options trades, the fees are relatively cheap compared to some competitors.
Tradable Securities
A strong point for using E*TRADE as your investment platform is the wide range of tradable securities. Some online brokers restrict you to just stocks and ETFs, especially market newcomers, but E*TRADE offers a wide range of investment options:
Stock trading
ETF trading
Mutual funds trading
Options trading
Bond trading
Futures trading
E*TRADE does fall short in two areas, however. There are no direct fractional shares, and there is no direct cryptocurrency trading. As of now, E*TRADE promises “exposure to popular cryptocurrencies via securities and futures” but nothing direct. However, in the future, E*TRADE’s website says that they do “expect to offer more investment options as the regulatory environment develops.”
Although you cannot purchase fractional shares directly, E*TRADE does offer fractional shares through their dividend reinvestment plan (DRIP), an automatic recurring investment program.
Note: You can trade penny stocks on E*TRADE, but in general, we do not recommend investing in penny stocks. It’s easy to lose money from penny stocks.
Custodial Account
Parents or guardians can open E*TRADE’s Custodial Account for minors. The account has no contribution or income limitations, and the first $1,050 of earnings are not subject to federal taxes. Even better, this account is eligible for the $15,000 annual gift tax exclusion.
Like E*TRADE’s core brokerage account, the Custodial Account offers stock trading and ETF trades free of commission. Options trades are also commission free.With a Custodial Account you can make withdrawals for any purpose with no penalties. An adult retains control of the account until the child turns 18 or 21, depending on the state.
An adult retains control of the account until the child turns 18 or 21, depending on the state.
Coverdell ESA
The Custodial Account isn’t the only option for parents. You can also open an Education Savings Account (ESA) for your child. The earnings are tax deferred, and any withdrawals for qualified educational expenses are tax-free. You can contribute up to $2,000 a year.
You are eligible to sign up for Coverdell ESA if your earned income does not exceed income limits which is under $110K for a single family home and $220K for joint filers.
With Coverdell ESA there are no annual fees and no account minimums.
Managed Portfolios
If the thought of managing your own investments terrifies you, that doesn’t mean E*TRADE is wrong for you. You just might better benefit from a managed portfolio, most likely a Core Portfolio.
For the Core Portfolios, E*TRADE provides a diversified portfolio that they will monitor and manage (including rebalancing) to meet your investment goals. It’s just a $500 minimum to get started, and E*TRADE charges an advisory fee of 0.30%.
And E*TRADE is offering a limited time deal this new year ‒ if you sign up for a Core Portfolio account by January 31, 2023 you will pay no advisory fee for three months.
Our Take: This is a good deal if you want to invest but have no interest in learning and keeping up with the news.
You can also consider the Blend Portfolios of mutual funds and ETFs ($25,000 minimum) or the Fixed Income Portfolios of bonds ($250,000 minimum).
With any of the managed portfolios—Core Portfolios, Blend Portfolios or Fixed Income Portfolios—you can access real human financial advisors for investment advice. You can also chat with the financial consultants about your own financial goals; this helps them design a portfolio custom-built for your financial situation.
Retirement Accounts
The breadth of retirement accounts offered by E*TRADE is impressive, and there are options for both individuals and small business owners.
As an individual, you can open the following retirement accounts with E*TRADE:
Rollover IRA
Roth IRA
Traditional IRA
Beneficiary IRA
E*TRADE Complete IRA
IRAs for Minors
As a small business owner looking to offer competitive benefits to employees or to build your own retirement plan funded by your business venture, you can open the following small business retirement accounts:
Individual and Roth Individual 401(k)
SIMPLE IRA
SEP IRA
Investment-Only Account
Bank Accounts
While we don’t advise anyone to open a bank account at E*TRADE if not also investing through the online broker, there is merit to each of the savings and checking options.
The Premium Savings Account has no monthly fees and is insured up to $1.25 million. This is a good option to hold funds that you’re planning to invest.
The Max-Rate Checking Account is not fee-free, but we do like that it offers unlimited ATM fee refunds nationwide and has an APY of 0.05%. But if you’re looking for a no-frills, no-fee checking account, go with E*TRADE Checking, which comes with a debit card.
You can also open a line of credit by borrowing against your investments. The variable APR on the loan varies depending on how much you borrow.
Educational Content
One of our favorite hallmarks of the E*TRADE brokerage account is the wealth of educational content, offered via two platforms: the traditional platform and the Power E*TRADE platform for advanced investors.
Everyone has access to independent analyst research (from TipRanks, Thomson Reuters and other industry resources), market news, real-time quotes, charts and studies. The platform also offers multiple investing tools, screeners, and learning resources. You can browse videos, articles, tutorials and more to learn the basics of investing and more refined strategies and even attend monthly webinars and live events.
Mobile Apps
E*TRADE’s online platform is easy to use, but for active traders on the go, the E*TRADE mobile app is essential. The basic E*TRADE mobile app offers all the same functionality as the website. It currently has a 4.6 star rating on the Apple App Store based on nearly 140,000 reviews; on Google Play, it’s got a 3.9 star rating based on over 40,000 reviews.
But advanced traders who like the expanded options and resources of Power E*TRADE can download a separate app called Power E*TRADE – Advanced Trading. This app is also highly rated (4.5 stars on the App Store and 3.9 stars on Google Play).
Sign-Up
Opening a new E*TRADE brokerage account takes only 10 minutes, but funding the account may slow you down. You can use the free Transfer Money service that takes up to three days, deposit a check (which takes even longer) or do a wire transfer (for a fee) for same-day access.
Other brokerage accounts make it easier to fund your account right away.
Customer Support
While many online brokers make customer support challenging by offering email-only support, E*TRADE is available 24/7 via phone. Just be aware that call volumes continue to be higher during the age of COVID, so expect a wait time.
To contact E*TRADE customer support, call 800-387-2331.
E*TRADE also operates 30 branches across the country. Here’s the full list of physical E*TRADE branches.
E*TRADE Pros and Cons
Weighing the pros and cons of E*TRADE before deciding to open a brokerage account? Good call. Below, we’ve spelled out what we love about E*TRADE — and what we don’t.
Pros
Trading stocks and ETFs is commission free.
E*TRADE is a true full-suite experience, with options for investing, banking, and retirement.
E*TRADE offers multiple trading platforms — the basic web platform and the Power E*TRADE platform.
Each of the trading platforms is free; the Power platform is just designed for those with a more refined understanding of a solid investment strategy.
Beginners have access to a wealth of personal finance educational tools, as well as free market commentary from independent analysts, helpful tutorials and even monthly webinars.
Customer support is great thanks to the 24/7 phone service. You can also find 30 physical branch locations across the U.S.
The mobile app is highly rated, and expert investors using the Power platform can access a separate mobile app tailored to their more hands-on use cases.
Novices who want to be hands-off can choose from the Core Portfolios, which utilize automated investment management technology to diversify and manage portfolios.
Cons
Not everything is commission free. You’ll pay commissions for options trading, mutual funds trading, bond trading and futures trading.
As of 2023, you cannot directly invest in cryptocurrency through E*TRADE.
You cannot purchase fractional shares via E*TRADE.
Funding the account after sign-up can take too much time. E*TRADE needs easier options for faster funding.
Frequently Asked Questions (FAQ) About E*TRADE
Still have questions about opening an account with E*TRADE? We’ve provided answers to the most common questions our readers are asking about E*TRADE.
E*TRADE is trustworthy as an online broker and a bank. Active traders with the brokerage account benefit from E*TRADE’s membership with SIPC (Securities Investor Protection Corporation), which protects each account up to $500,000 for securities and cash. Morgan Stanley, which acquired E*TRADE in 2020, carries additional insurance to protect customers.
E*TRADE’s bank accounts are insured by the FDIC (Federal Deposit Insurance Corporation).
E*TRADE offers commission-free trading for stocks and ETFs. However, if you want to trade mutual funds, bonds, options or futures, you will pay a fee. Options trades are commission free for the Custodial Account.
E*TRADE’s trading platforms are free, whether you use the core web platform or the more sophisticated Power platform for advanced investors.
What Kinds of Investment Options Does E*TRADE Have?
E*TRADE allows you to invest in stocks, ETFs, options, mutual funds, bonds and futures. You cannot, however, directly trade cryptocurrency. Because of the low or no commissions and variety of tradable securities, E*TRADE caters to active traders who are interested in hands-on investing.
But E*TRADE is far more than mutual funds and futures. In addition to the brokerage account, you can use E*TRADE for retirement planning and everyday banking.
Can I Talk to Financial Consultants at E*TRADE?
Yes, financial advisors are available at E*TRADE via phone, free of charge. Just call 1-866-484-3658.
Does E*TRADE Have Crypto?
You cannot directly invest in cryptocurrency through E*TRADE at this time. Through various securities and futures, E*TRADE says you can get “exposure” to various cryptocurrencies, and its website seems to hint that this investment option may be available at a later date.
Does E*TRADE Have Extended Hours of Trading?
Active traders who are interested in trading outside of active stock market hours are able to do this via the E*TRADE platform. However, this is a risky tactic, and the E*TRADE platform ensures you review the implications of trading during extended hours before you move forward.
Is E*TRADE a Robo-Advisor?
The main brokerage account through E*TRADE requires hands-on investing. However, you can choose a Core Portfolio, which is a managed account that runs on automated investment management with auto rebalancing. This is a great option for beginning investors.
Timothy Moore covers bank and investment accounts for The Penny Hoarder from his home base in Cincinnati. He has worked in editing and graphic design for a marketing agency, a global research firm and a major print publication. He covers a variety of other topics, including insurance, taxes, retirement and budgeting and has worked in the field since 2012.
Tax Day 2023 is closing in, and the burden for gig workers is a little heavier because you’re considered independent contractors — not employees — of the popular app-based companies you work for.
After years of filing extensions because of the pandemic, last year marked the return to a more familiar April deadline. Similarly, this year’s deadline to file your federal taxes is April 18.
While seasoned freelancers and gig workers likely know the drill when it comes to the process of filing your own taxes, it can be a daunting task for anyone new to the industry. The key thing to remember is that you’re responsible for reporting your gig work income for every client or company that paid you more than $600 in 2022.
One reason for all the confusion? Your tax documents may not have arrived via snail mail (the way they typically would with a full-time employer) — especially as more and more companies start offering digital copies of tax filing documents.
Regardless, you should have received everything you need (on paper, digitally, or both) from any companies you contracted with by Jan. 31. In any year, if you haven’t gotten anything by late February, reach out ASAP.
Here’s a rundown of the tax forms you’ll need to use as a gig worker – plus a look at the tax policies of five of the most popular gig app companies: Instacart, DoorDash, Grubhub, Lyft and Uber.
Common Tax Forms for Gig Workers
In the eyes of the IRS, you’re a self-employed worker. That means it’s up to you to compile the appropriate tax forms and accurately report your income.
Common Income Forms Sent to You
Companies that paid you more than $600 in a calendar year should send you a 1099 (either digitally or in the mail), as required by law. If you work across multiple apps, it’s possible you will receive a 1099 from each company. And depending on what companies you work for, you may receive up to three different types of 1099 per company.
The 1099-NEC was introduced in 2020 and is the main tax form that’s now used to report nonemployee compensation of $600 or more. Many companies previously used the 1099 MISC (Box 7) to report this income, and if you’re an independent contractor who used to receive that form, you’ll likely now receive this one instead. On this new form, you’ll use the amount in Box 1 to report your self-employment income.
Line 1 of the 1099-NEC form is where you should see your compensation. Chris Zuppa/The Penny Hoarder
The 1099-K form is another common form sent to gig workers. Previously, workers had to meet certain thresholds to receive this form (ie. offer a certain number of rides via Lyft or Uber or earn a certain amount in a calendar year). Beginning in 2022, anyone receiving payments exceeding $600 via a third party network or debit/credit card transactions will get this form, regardless of the number of transactions they completed.
Line 1a on the 1099-K form is where you will find the gross amount made from card and third party transactions. Chris Zuppa/The Penny Hoarder
NOTE: On December 23, 2022 the IRS announced it would treat the 2022 tax year as a transition year for this new policy. Translation? You may or may not get this form from any company you worked for depending on how much you earned and whether or not they followed the initially proposed 2022 guidelines.
If you own a business that accepts credit or debit card payments, drive for a rideshare company, or sell stuff on various online platforms— you may receive this form. Self-employed workers should use this form (along with the NEC) to report gross income earnings for the year. Pay special attention to Box 1a (your net income) as well as Boxes 5a-5l (your net income month-by-month) to understand how much money you received via third party networks.
The 1099-MISC, short for miscellaneous income, has undergone a lot of changes over the past years in order to accommodate the creation of the new 1099 NEC tax form. Like we mentioned up top, this form used to be the number one tax form for gig workers and independent contractors. But in 2023? Not so much.
While you may still receive this form as a gig worker, it won’t necessarily be because of your job. Those receiving the 1099-MISC nowadays are often getting it for reasons like collecting at least $600 or more in rent, medical payments, or prizes and awards. If you do happen to get one of these forms, just remember that the amounts listed on it will need to be reported as income.
Tax Return Forms You Send to the IRS
After you’ve tracked down all your 1099s and tallied up your net income, your next step is to get that number as low as possible by subtracting any and all applicable business expenses and deductions.
Pro Tip
Most Uber and Lyft drivers don’t meet the 1099-K threshold and won’t receive this form. Again, even if they don’t send you the form, you are still responsible for reporting your earnings.
As a gig worker, you may need to file the following tax forms with the IRS:
Form 1040: This is now the main form used by all U.S. taxpayers to file an annual income tax return. (Forms 1040S and 1040EZ are no longer available.)
Schedule C: is a sub-form of the 1040 used to tally up your profit and loss as an independent contractor. Line No. 1 is where you report gross income from all 1099s or from the income summary provided in your gig app. The subsequent boxes are examples of business expenses you may use to lower your taxable income. Line No. 31 is your net profit, a number you’ll need for the Schedule SE.
Schedule SE: This is another 1040 sub-form for self-employed (gig) workers. Use it to calculate your self-employment tax.
Schedule 2: is an “additional tax form,” i.e. where you provide the amount you owe in self-employment taxes from the SE form above. Put that figure on line No. 4 and the grand total on line No. 21.
Form 1040-ES: Use this form, instead of the standard 1040 if you need to file quarterly taxes.
You must file a tax return if you have net earnings from self-employment of $600 or more from gig work, even if it’s a side job, part-time or temporary.
Tax Policies and Resources of 5 Popular Apps
What forms you receive and what tax service you choose to file with depends on the company you’re working for. Each company has slightly different tax policies and may offer discounts for different tax-filing software services. Here’s how they stack up.
Pro Tip
Feeling overwhelmed? If you’re worried about making mistakes, we recommend using tax software like H&R Block, TurboTax or TaxAct.
DoorDash
DoorDash partners with Stripe. According to the company, you have received a 1099-NEC via Stripe e-delivery by December 31, 2022. The company no longer sends contractors details on their mileage, but instead recommends signing up with a mileage tracking app like Everlance to track your miles throughout the tax year and see if you qualify for any exemptions. Review DoorDash’s tax FAQ for more information. If you haven’t received your 1099-NEC or your mileage information, contact DoorDash customer support.
Primary tax form: 1099-NEC.
Who: Dashers who earned more than $600 the previous calendar year.
How: Electronic form (unless you opted for paper delivery instead).
Instacart
Much like DoorDash, Instacart has partnered with Stripe to provide tax forms to its contractors. If you earned $600 or more with the company in 2022, you should expect to receive an email containing tax information from Stripe or Instacart by early January 2023—at which point you will be able to download your forms from Stripe Express. If you have any issues receiving your forms, or have questions, you can reach out to the company by logging into the Shopper Helping Center.
Primary tax form: 1099-NEC.
Who: Instacart shoppers who earned more than $600 the previous calendar year.
How: Electronic form.
Grubhub
If you’re a Grubhub driver who earned more than $600 in 2022, and are enrolled in electronic communications, then you should have received your 1099-NEC via email by the end of January 2023. If you opted out of electronic tax communications, then you likely received a mailed copy of the form around the same time.
Visit Grubhub’s taxes FAQ for more information. If you haven’t received your form by Feb. 15, Grubhub recommends contacting the driver care team at [email protected] or at 866-834-3963.
Primary tax form: 1099-NEC.
Who: Grubhub drivers who earned more than $600 the previous calendar year.
How: Electronic and paper form.
Lyft
According to Lyft’s tax site for drivers, the company partners with TurboTax to provide discounted self-employed tax-filing services. All Lyft drivers receive 25% off TurboTax Self-Employed and TurboTax Self-Employed Live Federal filing.
Platinum drivers receive 50% off. To access your tax documents online (which may include the 1099-K as well as the 1099-NET), log in to your driver dashboard and click the “Tax Information” tab. There, you’ll be able to view your 1099-NEC, 1099-K and an unofficial tax summary document compiled by Lyft. The tax summary displays your net earnings and is especially useful if you don’t meet the earning threshold for either 1099 form. All tax documents will be available in your dashboard by January 31, 2022.
Primary tax forms: 1099-K and 1099-NET.
Who: Lyft drivers who earned more than $600 the previous calendar year.
How: Electronic and paper form.
Uber
Like Lyft, Uber partners with TurboTax to provide free self-employed tax-filing services – plus a 50% discount for live chats with TurboTax’s CPAs.
You can view your tax summary on or after Jan. 31 (which may include the 1099-K as well as the 1099-NET), via the tax information tab of your partner dashboard. You should have access to Uber’s tax summary even if you haven’t met the income thresholds for either 1099 forms. For more information on tax documents provided by Uber, visit their Tax Support page.
Primary tax forms: 1099-NET and 1099-K.
Who: Uber drivers who earned more than $600 the previous calendar year.
How: Electronic and paper form.
Contributor Larissa Runkle specializes in finance, real estate and lifestyle topics. She is a regular contributor to The Penny Hoarder. Contributor Matt Mastasci contributed to this report.
