Tag: freelancers

8 of the Best, Cheapest Meal Delivery Services

Meal delivery services, or meal kits, have been around for more than a decade but have grown in number in recent years.

You’ve seen the commercials and likely received the direct mailers to your door. And if you live in an apartment building, you might have almost tripped over the 30-plus-pound boxes in the hallway outside your neighbor’s door (the weight from ice packs and filler packaging add up quickly).

The direct-to-door business has grown from one or two big-name players and expanded to include many different companies, food options and plans for any budget. The pandemic helped exacerbate the trend when people grew weary of heading out to the supermarket. And there are no signs of slowing down: Meal kits are expected to become a $10.2 billion market in the United States by the year 2024.

If you’re looking to take a break from trips to the store or grocery delivery, take a chance on a cheap meal kit service.

What Is a Meal Kit?

A meal kit is a box or other container that holds items you need to create meals. Depending on the the plan you choose — most offer a set amount of meals for each week for a certain amount of people — you’ll receive meals weekly, unless you choose another delivery option.

Typically, a meal kit is made up of:

Ingredients (vegetables, meat and spices, etc.).
A recipe for each meal.

Meal kits usually come with ice packs and insulation to help keep meals frozen until you can put them in your freezer. (The effect of this wrapping and packaging on the environment has been an increasing topic of conversation.) Depending on the freshness or best-by dates, they might also come with directions on which meals you should make and eat sooner.

For a regular, set price, you can have meals ready-to-make delivered to your doorstep.

Meal Kits vs. Prepared Meal Kits

Before we proceed, it’s important to make a distinction between meal subscription services: Meal kits and prepared meal kits.

Most companies tend to specialize in one type or the other. At a glance, here’s the difference:

Meal Kit: This kit comes with all of the necessary ingredients you need to make the meal from scratch. You’ll need to do the prep work yourself (chopping veggies, defrosting any meat) and use a stove and/or oven to finish preparing the meals.
Prepared Meal Kit: This kit comes with meals already prepared and nearly ready-to-serve. Think: A fancier TV dinner. Simply unpack the meal, heat it in the microwave or oven, and you’re good to go.

Community entrepreneurs in large cities have also created hyper-local food subscription delivery (or pickup) services.

Many companies offer deals, especially for new subscribers. For example, you might get a certain number of meals or deliveries for free before you have to start paying.

Note: The prices in the chart below are based on two to four meals or recipes per delivery. The price of each meal or recipe typically decreases if you order more at one time.

8 of the Cheapest Meal Delivery Service at a Glance

Company	Starting Price	Shipping	Best For	Promos
Blue Apron	$7.99	$9.99	Wine and buying products	$200 off across six boxes	GET DETAILS
Hello Fresh	$9.49	$9.99	Fresh food and promos	22 free meals and free shipping	GET DETAILS
Dinnerly	$4.99	$9.99	Budget meals made fast	Check website	GET DETAILS
Freshly	$9.58	Varies	Quality quick options	None	GET DETAILS
EveryPlate	$5.49	$9.99	Easy recipes on a budget	First box for $1.49/meal	GET DETAILS
Home Chef	$8.99	Varies	Special diets	Check website	GET DETAILS
Green Chef	$11.99	$9.99	Organic ingredients	$4.79/meal and free shipping	GET DETAILS
Purple Carrot	$11	Varies	Vegans and veggie lovers	$20 off	GET DETAILS

Getty Images

1. Blue Apron: Best Choice for Foodies and Wine Lovers

Blue Apron

was founded 10 years ago and is one of the most recognized brands in the meal delivery game. The company went public in 2017 and, as of 2020, had over 350,000 customers. (Fun fact: The name “Blue Apron” pays homage to chefs who wear blue aprons when learning how to cook.)

Users can choose between two and four recipes per week (each serves two). There are lots of food options, ranging from health-conscious to diabetes-friendly recipes. Blue Apron also offers wine delivery, gift cards and an impressive inventory of kitchen items, from an herb stripper to a handcrafted Japanese utility knife.

Cost: Prices start at $7.99, plus $9.99 shipping.
Membership fees? No
Availability: Contiguous United States
Meal kit or prepared meal kit? Meal kit
Vegetarian options? Yes
Current promotions: New users can get $200 off across their first six boxes.

Hello Fresh meals are displayed on a kitchen counter. — Photo courtesy of HelloFresh

2. HelloFresh: Best for Fresh Food and Good Promotions

HelloFresh is another OG in the meal-kit industry, founded more than a decade ago. Users can choose between two and six recipes per week and choose two or four people to serve. Unlike Blue Apron, HelloFresh has doubled down on food only. The service offers options ranging from meat and pescatarian to calorie-smart and quick-and-easy meals.

Cost: Prices start at $9.49, plus $9.99 shipping.
Membership fees? No.
Availability: Contiguous United States.
Meal kit or prepared meal kit? Meal kit.
Vegetarian options? Yes.
Current promotions: New users get 22 free meals and free shipping. Healthcare workers, military members and veterans are also eligible for a special promotion.

Food and vegetables sit outside of a Dinnerly box. — Photo courtesy of Dinnerly

3. Dinnerly: Best for Families on a Time Crunch

Dinnerly is one of the more affordable meal kits on the market. Instead of investing in splashy marketing campaigns, Dinnerly passes on these savings to subscribers. Unlike its competitors, the company also uses digital recipe cards, fewer ingredients per dish and less packaging to increase savings, shorten cooking time and reduce carbon emissions.

Users can choose between a two-person or family box, and between three and six meals. Dinnerly offers 16 different meals a week, and has options from dairy-free to low carb.

Cost: Prices start at $4.99, plus $9.99 shipping.
Membership fees? No
Availability: Delivers to most of the contiguous United States (you can enter your zip code on the homepage to find out if it’s available in your area).
Meal kit or prepared meal kit? Meal kit
Vegetarian options? Yes
Current promotions: New users can regularly check the website and Dinnerly social media channels for promotions.

People eat a prepared meal from Freshly. — Photo courtesy of Freshly

4. Freshly: Best for Singles Who Want a Ready-Made Meal Option

Freshly was founded in 2012. This meal service promotes chef-prepared meals you can “heat and eat” in only three minutes. That means no frying pan needed for this service — these are fully prepared, fresh meals. But don’t let that fool you when it comes to variety. Recipes range from white bean turkey chili bowl to honey-peach barbecue chicken. And unlike others on the market, you order one meal per person.

Users can choose between four and 12 meals each week. There are gluten- and peanut-free options, though the company only has a handful of vegetarian meals at this time. It’s recommended that you eat meals within three to five days. Best-by dates are also printed on the meals so you can plan them accordingly.

Cost: Prices start at $9.58, plus shipping (varies)
Membership fees? No
Availability: Contiguous United States
Meal kit or prepared meal kit? Prepared meal kit
Vegetarian options? Limited options
Current promotions: None.

5. EveryPlate: Best for Subscribers on a Strict Budget

EveryPlate has, by far, one of the cheapest price-per-serving subscriptions. Similar to Dinnerly, EveryPlate makes adjustments to packaging and menu options to keep prices affordable for subscribers. Picky eaters will appreciate recipes like gravy-lover’s meatballs, while other palates can go for premium meals like lemon parsley scallops.

Users can choose a ClassicPlate, VeggiePlate or FamilyPlate meal. Meals serve two or four people, and you can get between three to five meals per week. It’s worth noting that the menu is also more restrictive than its competitors — no dedicated vegetarian, keto, vegan, gluten-free, low-carb or paleo options at this time.

Photo courtesy of EveryPlate

Cost: Prices start at $5.49, plus $9.99 shipping.
Membership fees? No
Availability: Delivers to most of the contiguous United States. Enter your ZIP code on the homepage to find out if it’s available in your area.
Meal kit or prepared meal kit? Meal kit
Vegetarian options? Limited
Current promotions: New users can get their first box for $1.49/meal.

A prepared meal from Home Chef meal delivery service sits on a plate. — Photo courtesy of Home Chef

6. Home Chef: Best for Users With Special Dietary Needs

Home Chef is one of the highest-rated meal-delivery services today. Founded in 2013, Home Chef meal kits are available via mail delivery and in some brick-and-mortar stores (at various price points) as well.

There’s Home Chef, which is a traditional meal kit, and Home Chef: Fresh and Easy, which has low- or no-prep meals. Home Chef offers oven- and grill-ready quick dishes, as well as dessert options. (Lemon cake slice? Yes, please.) This service also boasts an extremely wide array of recipes, especially if you have particular dietary needs. Whether you need to avoid nuts, wheat, soy or dairy, there are plenty of meal options for you.

Meals serve from two to six people, and users can choose between two and six recipes a week.

Cost: Prices start at $8.99, plus shipping (varies).
Membership fees? No.
Availability: Delivers to most of the contiguous United States. Enter your ZIP code on the homepage to find out if it’s available in your area.
Meal kit or prepared meal kit? Meal kit.
Vegetarian options? Yes.
Current promotions: New users can check the website for promotions in their area.

7. Green Chef: Best for Customers Who Want Organic Ingredients

If you’re looking for fresh ingredients and nourishing meals you can cook in about 30 minutes, Green Chef could be the meal-plan option for you. This service skews toward healthier recipes, with an emphasis on clean ingredients and sustainable packaging (truly putting the *green* in Green Chef, eh?).

The company offers a range of food options, from keto and paleo to gluten-free boxes. Compared to its contemporaries, though, there may not be as many meals to choose from each week (a quick glance at one menu shows nine options). However, if you’re someone who gets hung up by analysis paralysis, a tighter menu might be just what you’re looking for.

Customers can choose plans for between two and six people, and three or four meals per week.

Cost: Prices start at $11.99, plus $9.99 shipping
Membership fees? No
Availability: Most of the continental United States, aside from some parts of Louisiana.
Meal kit or prepared meal kit? Meal kit
Vegetarian options? Yes
Current promotions: New subscribers pay $4.79/meal and get free shipping on their first order.

A purple carrot box is photographed with prepared vegan meals sprouting from the box. — Photo courtesy of Purple Carrot

8. Purple Carrot: Best for Vegan Subscribers and Veggie Lovers

When it comes to some meal kits, vegan options can feel like an afterthought. Purple Carrot is here to change that.

PC calls itself “pro-plant,” offering veggie-laden, plant-based meals. Unlike other services, it also offers both meal kits and prepared-meal plans, so you can choose what best fits your lifestyle. Currently, you can only belong to one plan, though — that is, you can’t mix-and-match kits and already-prepared meals in one order. Subscribers can whip up Tuscan-stuffed zucchini or heat up some creamy mac n’ cheese with buffalo-roasted chickpeas. Purple Carrot also has fun merch (so, you can pick out a meal plan and a pair of embroidered carrot socks).

For the meal kit, you can choose between two and four servings, and three or four meals per week. For the prepared-meals plan, there’s only one serving; however, you can choose between six and 10 dinners a week.

Cost: Meals start at $11, and shipping costs vary
Membership fees? No
Availability: Contiguous United States only, though you’ll also want to use the website chat feature to confirm Purple Carrot serves your location.
Meal kit or prepared meal kit? Both
Vegetarian options? Yes
Current promotions: Get $20 off your first order..

How Do You Order and Choose Meals?

You usually need to select meals (or defer or cancel that week’s delivery) by a certain date the week before you’re due to receive your next package. You also have the option to choose which meals you’d like to receive; if you elect not to pick them, options will be chosen for you.

Whether you’re looking for low carb, gluten-free or other menu options, there’s likely a meal plan and kit for you. Bonus: Some of their offerings taste better than takeout or a dish at your favorite restaurant.

Why Choose a Meal Kit?

It’s fun to play chef and make meals you wouldn’t normally make yourself. If you want to make Thai chicken coconut curry, but can’t track down coconut milk in your area market, it’s nice to select that meal from a service that will give you everything you need to make it (in just the right quantity, to boot). Also, if you don’t like it, you aren’t stuck with a full spice or dried herb container that you aren’t likely to use again since you only got enough to make that one dish.

Whether you want a break from grocery shopping, need help with meal planning or just want to try new, delicious food, meal kits can be an affordable option for you.

Making Your Own Meals vs. Ordering a Meal Kit

Meal kits can be an affordable, alternative option. But if you’re faced with sticker shock, remember that you’re paying for the convenience factor.

If you’d like to make your own meals at home, be savvier about where your funds go and what you buy. And if you find yourself over-purchasing groceries and contributing to the nation’s food waste problem — which accounts for 30 to 40% of the food supply, per the USDA — know that there are ways to be smarter about how you shop.

Know which items (think: non-perishables) are best to buy in bulk. You can also use online tools and store-specific guides to get the best deals and save on groceries.

Bottom line: With a plan in place, there are endless ways to save money on groceries and food shopping.

Frequently Asked Questions (FAQs) About Food Delivery Services

Here are our answers to some of the most popular questions when it comes to cheap meal kits.

What is the Cheapest Meal Plan Delivery?

EveryPlate is one of the overall cheapest meal kit services. With that said, the most affordable meal kit for you might depend on where you live and your dietary preferences. Also, if you’re a new subscriber, you could qualify for big first-time-customer specials.

Prices fluctuate, so check out different (and new-to-the-market) services regularly.

What is the Cheapest Healthy Meal Delivery Service?

Home Chef offers specialty meals at good prices. However, most meal delivery services offer a range of food options. Whether you’re looking for fresh produce or low-calorie eats, there are many options for nutritious meals.

What is the Cheapest Food Delivery Service in 2023?

Prices have shifted a bit in the last couple of years to accommodate more users and account for pandemic-caused production issues. Right now, EveryPlate and Dinnerly are two of the cheapest meal delivery services.

What is the Cheaper Version of HelloFresh?

HelloFresh offers many promotions and new-customer deals. If you’re looking for a slightly cheaper option, check out Dinnerly or Home Chef. Both offer healthy ingredients and vast menu preferences.

Contributor Kathleen Garvin (@itskgarvin) is a personal finance writer based in St. Petersburg, Florida, and former editor and marketer at The Penny Hoarder. She owns a content-writing business and her work has appeared in U.S. News, Clark.com and Well Kept Wallet.

kathleen@thepennyhoarder.com (Kathleen Garvin)

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January 23, 2023

The Bank of America Fees Customers Will Pay for Having a Low Balance

Almost every one of us has a checking account. And if you don’t have one, get on it — it’s a place to safely store your money and you could be eligible for a new-account bonus, free checks and other perks.

For many of us, checking is the way we pay our bills and budget for our lives. It’s not where we store an abundance of money, like a savings account. Instead it holds enough to cover regular expenditures, and ideally, a little buffer cash.

Often, banks with business checking accounts charge users a fee monthly to maintain this service. However, most banks offer general checking for free to everyday customers who use it for personal expenses, with certain stipulations.

The hope is that — once they have you as a checking account customer — you’ll stick around for other services, such as savings accounts and loans. Perhaps you’ll refer family members and friends to open savings accounts and other type of accounts with this business, as well.

How Bank of America’s Fees Work

Here are the results of our survey of BofA fees:

Bank of America’s Account Fees

Bank of America used to be one of those institutions that offered a fee-free checking to customers. This one account was available to users without maintenance or ATM fees.

Then, a couple years ago, some BofA customers who’d previously enjoyed a free eBanking (online banking) account got an unwelcome surprise.

Bank of America and its Monthly Maintenance Fee

For years, BofA offered an eBanking checking account that allowed consumers to keep a free checking account — if they agreed to go paperless and handle most transactions via ATM or online transfer. This was a simple way for people to avoid monthly charges.

Then, in 2018, the bank changed course.

Bank of America eliminated its eBanking checking account and moved those customers to what it called a Core Checking Account. Members who didn’t fit certain criteria for this account could be charged $12 a month.

Avoiding Monthly Maintenance Fees

Back then, to avoid monthly maintenance fees, customers with a Core Checking Account would need to meet one of two guidelines:

They’d need to have at least one directly deposited $250 or more each month, or
Maintain a balance of at least $1,500.

In other words, BofA wanted to charge customers money for not keeping a the minimum required with stiff overdraft penalties.

Students under 24 years old who were enrolled in high school, college or a vocational program were exempt from these new fees. Still, that left many people susceptible to paying this monthly charge.

How Customers Reacted to Bank of America’s Monthly Maintenance Fees

To be fair, checking programs are expensive to maintain for banks. And more banks started charging monthly maintenance fees to customers who didn’t maintain a minimum daily balance.

But not everyone took this news lying down. There was a petition on Change.org asking Bank of America not to end its free checking. After it launched, the petition garnered more than a whopping 380,000 signatures.

The decision wasn’t popular, to say the least.

So, what will BofA customers pay to maintain a checking account with the bank in 2023? It depends on a couple factors.

3 Types of Bank of America Checking Accounts in 2023

In the years since 2018, BofA has altered its account offerings. (And there’s no longer a Core Checking account.) Today, the company has three primary checking accounts: Bank of America Advantage SafeBalance Banking®, Bank of America Advantage Plus Banking® and Bank of America Advantage Relationship Banking®.

Here’s a breakdown of each one:

Bank of America Advantage SafeBalance Banking®

Required opening deposit: $25
Interest-bearing account: No
Option to add overdraft protection: No
Overdraft fees: No overdraft or insufficient funds fees
Monthly maintenance fee: $4.95 or $0

Bank of America Advantage Plus Banking®

Required opening deposit: $100
Interest-bearing account: No
Option to add overdraft protection: Yes
Overdraft fees: No overdraft or insufficient funds fees
Monthly maintenance fee: $12 or $0

Bank of America Advantage Relationship Banking®

Required opening deposit: $100
Interest-bearing account: Yes (The annual percentage yield, or APY, will vary based on the amount in your account. For example, an account with less than $2,500 in it in West Central Florida will generate a 0.01% APY. This may vary based on location, as well.)
Option to add overdraft protection: Yes
Overdraft fees: No overdraft or insufficient funds fees
Monthly maintenance fee: $25 or $0

BofA also offers a savings account — Bank of America Advantage Savings — though it requires an opening deposit of $100.

Here’s a table so you can view the different details and fees for BofA checking accounts at a glance.

	Bank of America Advantage SafeBalance Banking	Bank of America Advantage Plus Banking	Bank of America Advantage Relationship Banking
Required opening deposit	$25	$100	$100
Interest-bearing account	No	No	Yes (APY varies on your location and amount in the account)
Option to add overdraft protection	No	Yes	Yes
Overdraft fees	No	No	No
Monthly maintenance fee	$4.95 (can be waived)	$12 (can be waived)	$25 (can be waived)

How to Avoid Maintenance Fees for Your Checking Account

Depending on the type of account you choose, here’s how you can avoid the recurring fees:

Bank of America Advantage SafeBalance Banking

The fee is waived for each statement cycle in which you’re enrolled in Preferred Rewards.

What is Bank of America Preferred Rewards?

It’s BofA’s rewards program, and there are three tiers: Gold, Platinum and Platinum Honors.

To be a Preferred Rewards client, you must have an active and eligible BoA personal checking account and maintain a three-month combined average of $20,000, $50,000 or $100,000, depending on your tier.

Bank of America Advantage Plus Banking

Monthly maintenance fees are waived for each statement cycle in which you are enrolled in Preferred Rewards, have a qualifying direct deposit ($250 or more) or maintain the daily balance requirement ($1,500).

Bank of America Advantage Relationship Banking

The fee is waived for each monthly statement cycle in which you are enrolled in Preferred Rewards or maintain the combined minimum balance ($10,000) in eligible linked accounts.

Bank of America Student Waiver

Like before, there is a student waiver for bank fees, too. To be eligible, the customer must:

Be enrolled in high school or college, or a university or vocational program, and
Be under 24 years old.

Note: Students may be asked to show proof of enrollment. They will also no longer be entitled to this waiver once they turn 24, if they leave school or are no longer the account owner.

So unless you’re an eligible student, you will need to be a Preferred Rewards program member or meet other qualifying balance or deposit requirements to avoid account fees.

To recap, here’s how you can avoid these fees, by account.

Bank of America Advantage SafeBalance Banking	Bank of America Advantage Plus Banking	Bank of America Advantage Relationship Banking
The $4.95 fee can be waived each statement cycle if you’re enrolled in Preferred Rewards. The fee is also nixed if you qualify for a student waiver.	The $12 fee can be waived each statement cycle if you’re enrolled in Preferred Rewards, have a qualifying minimum direct deposit ($250) or maintain the minimum daily balance requirement ($1,500). The fee is also nixed if you qualify for a student waiver.	The $25 fee can be waived each statement cycle if you’re enrolled in Preferred Rewards or maintain the combined minimum balance ($10,000) in eligible linked accounts. The fee is also nixed if you qualify for a student waiver.

How to Avoid All Bank of America Fees, By Category

Here’s all the Bank of America fees and all the ways you can get around paying for them.

Checking Account Fees

It bears repeating, especially if it means saving you money: You can avoid BofA’s checking account fees in a few ways. Depending on the account, here’s how you can circumvent paying the monthly fee:

Bank of America Advantage SafeBalance Banking: Be a Preferred Rewards client or qualify for a student waiver.
Bank of America Advantage Plus Banking: Be a Preferred Rewards client, have at least one qualifying deposit of $250, maintain a daily balance of $1,500 or more, or qualify for a student waiver.
Bank of America Advantage Relationship Banking: Be a Preferred Rewards client, maintain a combined balance of $10K in eligible linked accounts or qualify for a student waiver.

Savings Account Fees

BofA offers a standard savings account to members: Advantage Savings. It has a $8 monthly fee that can be waived if you:

Maintain a daily balance of $500 or more,
Link your BoA Advantage Savings account and BoA Advantage Relationship Banking accounts,
Become a Preferred Rewards member, or
Qualify for a student waiver.

The $8 fee is also waived for new account holders for the first six months.

Wire Transfer Fees

Wire transfers offer a secure way to send money within and outside the U.S. Fees will vary depending on a number of factors, like the fees you may incur from other banks.

You can view a list of some fees here. While you may not be able to avoid a charge completely, you can plan accordingly for them.

Overdraft Charges

In May 2022, Bank of America began charging a $10 fee — lowered from $35 — for every overdraft item over $1. The best way to avoid this fee is to stay on top of how much money you have in your account. If your account is eligible, you can also sign up for protection from overdrafts.

ATM Fees (Out of Network, International, etc.)

Bank of America charges users $2.50 domestically and $5 internationally for using non-branded ATMs. You might also incur other ATM operator and international fees.

You can avoid fees entirely by only using Bank of America ATMs. Also, Preferred Rewards program members are entitled to a certain amount (or even unlimited) usage of non-BoA ATMs at no charge.

Bank of America vs. Other Banks: Comparing Fees

To give you an idea of how BofA compares to other big-name institutions, we compared fees. This information applies to checking accounts.

	Bank of America	Chase	U.S. Bank	Wells Fargo
Required Opening Deposit	$25 and up	$0 and up	$25	$25
Interest-Bearing Account	Yes, for higher-tier accounts	Yes, for higher-tier accounts	Yes, for higher-tier accounts	Yes, for higher-tier accounts
Option to Add Overdraft Protection	Yes, for select accounts	Yes, for select accounts	Yes	Yes, for select accounts
Overdraft Fees	$35	$34	$36	$35
Monthly Maintenance Fees	$4.95 and up (can be waived)	$4.95 and up (you can waive maintenance fees for certain accounts)	$6.95 and up (can be waived)	$5 and up (the $5 fee can be waived for members 24 and younger)

How Lower-Tier Bank of America Accounts Compare

First, if you don’t want to switch banks, dig into your financial situation. For instance, does your employer offer direct salary payment into your account? If so, that’s a qualifying requirement, and a Bank of America Advantage Plus Banking account may work for you. Otherwise, you might want to consider the Bank of America Advantage SafeBalance Banking account.

Here’s a glance at the pros and cons of each account:

Bank of America Advantage SafeBalance Banking Checking Account

Pros:

Low opening deposit
No overdraft or insufficient funds fees
Lowest monthly maintenance fee of all three accounts

Cons:

No checks
No option to add overdraft protection
You need a lot of funds in your account to become a Preferred Rewards program member and get the monthly service fee waived

Bank of America Advantage Plus Banking Checking Account

Pros:

No overdraft or insufficient funds fees
Option to add overdraft protection
Multiple ways to waive the monthly service fee

Cons:

$100 to open an account
$12 monthly maintenance fee if you don’t qualify for a waiver

Again, if you’re an eligible student under 24, you won’t pay monthly maintenance on any account.

If you’re not exempt from Bank of America’s monthly fees — or looking to avoid monthly service fees altogether — it might be time to consider other options.

What to Consider When Choosing a Checking Account

Whether you have a BofA or an account at another bank, switching banks can be a pain. But it’s worth it if it will save you cash — and headaches.

Not sure which bank is right for you? We graded 10 checking accounts so you don’t have to do the legwork to find a new place to store your money. You can choose from a variety of online-only and traditional banks. Bonus: Some banks can even help you get your paycheck faster.

Keeping in line with the theme of this article, you save money with this list of several free checking accounts. Most of these accounts take five minutes or less to sign up and some of these banks offer nice perks like a high-interest or a rewards savings account. Just peep the fine print to make sure you’re aware of any ancillary costs. Other account fees or requirements might include:

Paying to replace or personalize your debit card,
Non-bank ATM or other banks’ ATM fees
A minimum daily balance and
Various other account fees

Whatever you do, don’t stand back and simply let your bank take nearly $60+ of your hard-earned money away from you every year. There are other banks, and far too many better, easier-to-manage options out there.

Kent McDill is a veteran journalist who has specialized in personal finance topics since 2013. He is a contributor to The Penny Hoarder.

kmcdill@aol.com (Kent McDill)

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January 23, 2023

19 Super-Smart Tips on How to Save Money on Utilities
Last summer was plagued by historic heat waves across the country, leading to massive spikes in electric bills as power grids were tested. And now we’re facing quite the opposite problem: frigid cold that can drive up electric and natural gas bills to all-time highs.

Already this winter, we’ve faced serious storms across the country that sent many states into below-zero territory.

Plummeting temperatures in the winter and rising temperatures in the summer mean more extreme and dangerous weather, more uncomfortable days no matter where we live, increased chances of cold- and heat-related injury and death and, yes, more expensive energy bills.

In the face of continued inflation in 2023 — and with gas prices fluctuating between high and not-so-high — it’s important to look for ways to save energy and keep utility bills low. But short of turning off your heater and diving under a pile of blankets, what can you do to keep your natural gas and electricity bills down?

19 Ways to Save Money on Utility Bills
- Change air filters and keep vents clean
- Adjust thermostat throughout the day
- Adjust temperature on water heater
- Invest in fans
- Get into the habit of unplugging
- Invest in blackout curtains
- Check ductwork and attic
- Use energy saving light bulbs
- Cut dryer time with dryer balls
- Upgrade to energy-efficient appliances
- Check options from power company
- Get caulking
- Develop water-saving habits
- If you have a dishwasher, use it
- Use less water when flushing
- Master the art of washing clothes
- Keep an eye out for leaks
- Install water-saving showerheads and faucets
- Run appliances at night
Utilities are the services used to run your home, which include water, electric and gas. Some may consider phone, internet and other services utilities as well, but we’ll just stick to the first three.

Because your electric bill is the main one that can get out of hand — and is probably top of mind as we contend with frigid temps — we’ll start with how to lower electricity bills. If you have gas heat and gas-powered appliances, some of these tips will be useful as well.

Tips and Tricks for Saving Money on Your Electric Bill

Whether you’ve fallen victim to paying nearly half your rent or mortgage just to keep the lights on, or you’re just starting out and want to know what to expect, try these tips for cutting back your electric bill — and, if you have one, your natural gas bill, too.

1. Change Air Filters and Keep Vents Clean

Let’s face it, vents aren’t pretty. You may feel inclined to place furniture in front of them, but it’s important to leave enough room so that cool or warm air can actually flow out and into your space. In fact, blocking vents with furniture could cause your HVAC system to work extra hard — and eventually break down.

But more important for the health and efficiency of your HVAC system is actually keeping up with routine maintenance. That is, changing out the air filter every couple of months — more frequently if you have dogs or cats. When air filters get clogged up with dust, dirt and pet hair, the airflow becomes blocked, making your air conditioner and furnace work harder (i.e., less efficiently) until it decides to call it quits. When changing out the filter, use your vacuum’s brush extension to brush off and suck up any dust around the slot.

The same goes for your outdoor AC unit: Trim back bushes and remove any debris touching the unit, leaving at least a foot of space for it to work its magic.

2. Adjust Thermostat Throughout the Day

If you’ll be gone during the day (and don’t have pets at home), set the thermostat a little lower than what you’d otherwise leave it at during the winter. You can also save energy by turning the thermostat down a smidge at night.

But don’t get too stingy with the warm air. If you set the temperature too low while you’re away, your unit will have to work even harder to heat the place up when you get home. This drives your energy bill up and can also stress the unit, and no one needs added stress — not even your furnace.

Pro Tip

These same rules apply in the summer. Keep your AC a little warmer when you’re gone to cut costs.

If you own a home, you can really put it on autopilot by investing in a programmable thermostat that adjusts the temperature according to the schedule you set. You can get a smart programmable thermostat and use voice control or your phone to adjust the temp while you’re home. Some even remind you to change the air filter!

3. Adjust Temperature on Water Heater

While you’re adjusting your thermostat, you may as well tinker with your water heater temperature too. Whether it’s powered by electric or gas, lowering the max temp on your hot water heater can lower your utility bills (and protect your skin — scorching hot showers are bad news for your body’s largest organ).

The default temperature for a water heater is 140 degrees, which wastes between $36 and $61 a year, according to the Department of Energy. Lowering the temp to 120 degrees is perfectly fine for most people.

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4. Invest in Fans

Fans use way less energy than your furnace or air conditioner and can actually be used to help cut both heating and cooling costs.

Most ceiling fans come equipped with a switch to change the rotation direction — set them counterclockwise in summer to bring down the cool air and clockwise in the winter to pull cool air up and push warm air down.

If you can’t invest in ceiling fans or are renting from a landlord who refuses to install them, not all hope is lost. Just get some pedestal fans for the hot summer months. They also use way less energy so you don’t have to turn down that thermostat any lower than it needs to go. Some even come with remote controls so you can adjust them from the couch while binging Wednesday.

5. Get Into the Habit of Unplugging

Some appliances should stay plugged in all the time, like your refrigerator and digital alarm clock. But the Department of Energy points to other household electronics, including TVs, computers and toaster ovens, that you should unplug when not in use. Electronics that unnecessarily stay plugged in are in standby mode, which accounts for 5% to 10% of the average household’s energy usage.

By unplugging these appliances and electronics, the DOE estimates that you could save about $100 on your energy bills every year. That’s about $8 a month in savings on your electricity bill.

To make it easier on yourself, you can plug these electronics into a single power strip, then just flip the strip off when you’re done using the appliances for the day.

Also, your electrical outlets could be letting warm air escape while pulling cool air in (and vice versa), so socket seals are another way to save on energy. And if you have sockets you’re not using, consider outlet plug covers for a complete seal.

6. Invest in Blackout Curtains

Blackout curtains block out light and noise while keeping cool or warm air from escaping, allowing you to set your thermostat a few degrees higher or lower than you normally would.

Unless you’re a night owl (or a vampire) and get all your sleep during the day, there’s no need to get these for every window in your home. Just buy them for the ones getting the most sunshine throughout the day (south-facing windows are the biggest culprits). In the winter, thicker window treatments like curtains can help keep heat from escaping.

7. Check Ductwork and Attic

Your home’s ductwork and attic can also be allowing warm or cool air to escape, and there are a couple of obvious signs when they’re in need of repairs.

If you can see the support beams in your attic, your attic needs more insulation. As for ductwork, seeing dust is actually a good thing. If you see parts of your ductwork that aren’t collecting dust, this means air is leaking out of the joints and seals, and it needs to be patched up.

The Department of Energy’s website has more in-depth instructions for how to insulate your home, and you can find plenty of DIY tutorials on YouTube. However, insulation takes skill to install, and recommendations vary by climate, so it’s really best to hire a professional to inspect and do the work for you.

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8. Use Energy Saving Light Bulbs

Replacing your home’s incandescent, compact fluorescent and halogen light bulbs to the much more energy-efficient light-emitting diodes (LEDs) can save you about $225 a year.

Which LEDs you choose depends on how much you’re willing to spend, how often you’re willing to replace them and your lighting preferences; however, the Department of Energy agrees that LED light bulbs, whichever you choose, are an easy way to lower utility bills.

Of course, these bulbs generally cost more up front, but they save more energy and last longer than the other options, so the investment may be worth it.

There’s no need to replace every light bulb in your home at the same time if you’re strapped for cash. Just replace them as they burn out, that way your energy savers can be money savers from the start.

9. Cut Dryer Time With Dryer Balls

You might think that dryer balls are meant to prevent static and wrinkles — and you’re right — but they do more than that.

Dryer balls can actually cut drying time by up to 25%. So not only can you save a little bit of money on utility bills, but you can also cut down your chore time.

Regularly cleaning your dryer’s lint trap can also improve its efficiency and help prevent fires.

10. Upgrade to Energy-Efficient Appliances

Heating and cooling systems, refrigerators, ovens and washers and dryers cost quite a bit of money upfront, but investing in energy-efficient options will save you money in the long run. Make sure you get one with the official Energy Star label.

Because these big-ticket appliances are an investment, you might need to budget and figure out ways to save money ahead of time.

You can also check out the best times to buy new appliances by keeping track of big sales and new model releases. The best sales usually fall around holidays, including Memorial Day, Fourth of July, Labor Day, Veterans Day and Black Friday.

Many brands also run sales with deeper discounts when they’re planning on rolling out new models, which usually happens in September, October and January. (The exception is refrigerators, which usually make their new model debuts in May.)

If you’re comfortable making these buying decisions online or simply like to avoid crowded stores, you can find discounts on all appliances year-round. However, shipping costs can add up, so shop around and compare prices.

You may even be able to find upgraded used appliances on sites like eBay, Craigslist, OfferUp, LetGo and Facebook Marketplace and at donation centers like the Salvation Army.

11. Check Options From Power Company

Many power companies offer something called budget billing that averages your utility bills throughout the year to create a flat-rate bill with no surprises. That means you’ll pay a little more than you typically would in the spring and fall when temperatures are moderate, but your electric bill and gas bill should be more manageable during peak hot and cold seasons.

Check your power company’s website, or call the company to discuss what it has to offer. You can also check out programs like WattBuy to see if you’re eligible to switch energy providers.

12. Get Caulking

Caulking around windows and doors can keep hot air inside in the winter and cold air inside in the summer. It’s one of the easiest DIY home repairs you can tackle; the Department of Energy says you can caulk the whole house in a couple of hours for as little as $3.

Caulking helps solve minor air leaks, but if your utility costs skyrocket in the winter and summer, you might need to think about more extensive upgrades, like a new roof or storm windows, which can prevent more serious air leaks. A home energy audit can tell you what the most strategic energy-efficient upgrades to your house might be.

Pro Tip

Window and roof renovations can be expensive, but they do usually merit some tax credits. Save all invoices and receipts, and give them to the accountant next tax season.

Tips for Saving Money on Your Water Bill

Unless you’re living in a household with several other people or your pipes have leaks, you don’t have to worry as much about your water bill getting out of hand. But there are a few things you can do to shave some dollars off that bill, while going green to protect the environment.

13. Develop Water-Saving Habits

Remember when your parents would yell at you for letting the water run while brushing your teeth or taking too long in the shower?

Well, they kind of had a reason: They were paying the water bill. Now that you’re footing the bill, get in the habit of turning the water off while brushing your teeth, lathering yourself up in the shower and even scrubbing dishes before rinsing.

Another water-saving habit: If you take a glass of water to bed and don’t drink it all, don’t dump it in the morning. Use it to water houseplants or fill up the dog bowl; they’re much less picky drinkers.

Adobe Stock

14. If You Have a Dishwasher, Use It

You would think a big appliance like a dishwasher takes a lot of water to run, but it actually uses less water than washing dishes by hand — and it does a better job of sanitizing too. If you ask me, any reason not to hand-wash my dishes is a win.

This doesn’t mean you should run the dishwasher every time there are a few dishes loaded up — make sure it’s a full load to be the most cost-effective.

Pro Tip

You can upgrade to an energy-efficient dishwasher with the Energy Star label for even more savings.

15. Use Less Water When Flushing

Want a simple trick to save water when flushing? Simply load a couple of plastic soda bottles with an inch or two of pebbles or sand, and fill them up with water. Then, screw on the lids, and put them in the toilet tank. Make sure they’re away from all the operating mechanisms. This easy hack reduces the amount of water your toilet uses every time you flush.

If you’d prefer not to go the DIY route to save on flushing, you can save a lot of money by investing in low-flow toilets. You’ll just have to budget for the upfront cost of purchase and installation.

16. Master the Art of Washing Clothes

There are a few ways you can conserve while doing laundry.

First, be sure you have a full load, rather than washing several smaller loads. Then, be sure to wash that full load on cold.

According to Consumer Reports, washers and detergents have evolved to the point that it’s perfectly fine to wash everything on cold — even your whites. The only exception is when someone in the household is sick or when washing extra-soiled clothes and linens. Then, be sure to turn the temperature to hot or warm, and use bleach if possible.

Finally, feel free to skip that extra rinse. Just be sure you’re not using more detergent than you need. Not only will you save money on water (and detergent), but your clothes will smell better, too.

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17. Keep an Eye out for Leaks

Find and repair any plumbing leaks, whether they’re from dripping faucets or toilets. Running toilets send gallons of water down the drain on a daily basis. But before you call that expensive plumber, check out YouTube. There are a few video tutorials on how to fix a running toilet yourself.

Also, when turning off faucets, be sure you’re turning them off all the way. If your faucet is dripping, give the handle one firm twist before calling up the plumber. Sometimes, all you need is a little force to turn the faucet all the way off.

18. Install Water-Saving Showerheads and Faucets

If you have multiple people using water in your home every day, upgrading to water-saving showerheads and faucets can be a great investment. There are plenty of options for water-saving showerheads that purge cold water when the water is turned on and then restrict the flow once the water heats up.

When replacing faucets,look for those labeled as WaterSense certified, per the EPA. Costs can be high, so shop around.

19. Run Your Appliances at Night

Some utility companies can be sneaky and increase their rates during the day, which are considered peak hours. They might say it’s to encourage conservation, but we all know everyone needs to make money.

If your water and/or power company charges different rates depending on the time of day, consider doing some chores at night. Running your washer, dryer and dishwasher at night can help you avoid being charged the higher rate and lead to energy savings on both your electric and water bills in the long run.

This is also a great way of getting into the habit of loading up that dishwasher after dinner, so you won’t have to soak or scrub those leftover dishes before loading them up in the dishwasher — saving even more on water costs.

Contributor Timothy Moore is a writer and editor in Cincinnati who covers banks, loans insurance, travel and automotive topics for The Penny Hoarder. Former Penny Hoarder staffer Jessica Gray contributed to this report.

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January 20, 2023
Here Are the 10 Most Affordable Electric Cars for 2023

Electric vehicles are becoming increasingly popular as gas prices skyrocket. In fact, automakers plan to pivot to largely electric lineups in the coming decade, in response to ongoing climate concerns.

For more than a decade, brands like Nissan and Chevrolet have offered affordable electric cars like the Nissan Leaf and Chevy Spark EV, but their gas-powered subcompact and compact counterparts were always more affordable.

While that’s still true today — especially as brands like Tesla market electric vehicles (EVs) like the Tesla Model S starting in the six-figure range — the price gap between gas cars and electric cars has become much narrower. Federal tax credits can even make an electric car cheaper than a similar gas-powered model.

Still driving a gas-powered car? You can save money on gas if you join one of these six fuel rewards programs.

At the same time, automakers have made tremendous strides to address range anxiety; most of the electric cars featured below can go at least 200 miles on a single charge.

But what’s the most affordable electric vehicle, and how do tax credits affect the price? Check out our list of the cheapest electric cars below.

10 Cheapest Electric Cars in 2023

We’ve rounded up the most affordable EVs in the U.S. based solely on their MSRP (manufacturer’s suggested retail price).

Some new electric vehicles are eligible for a $7,500 tax credit, but the Inflation Reduction Act of 2022 changed the guidelines. As we approached the end of 2022, the IRS revised guidance (temporarily) because it was simply not ready to roll out some of the new provisions.

The short version? Some new EVs may qualify for the full electric car tax credit, some may qualify for a partial credit and some may not qualify at all — and this may change later in 2023 (and again in future years). Once you’ve narrowed down your list of affordable EVs, do some research to determine if each vehicle you’re considering qualifies (and if you qualify) for the tax credit.

Without further ado, here are the 10 most affordable electric cars of 2023:

1. 2023 Chevrolet Bolt EV

Starting MSRP: $26,595

EPA-estimated range: 259 miles

With changes to the federal EV tax credit law, the Chevrolet Bolt EV may be eligible for a rebate once again. (Chevy had previously been eliminated for consideration because its EV sales had surpassed the now-removed 200,000 sale threshold).

That means the 2023 Chevrolet Bolt EV, which is the cheapest electric vehicle for 2023, may be even more affordable after tax credits. And it’s cheaper than the outgoing 2022 model by several thousands of dollars.

Tax credits aside, the Bolt EV is reasonably priced and has great range. The entry-level trim (1LT) that starts at $26,595 promises up to 259 miles of range, wireless smartphone integration and advanced Chevy Safety Assist features. If you spring for the 2023 Bolt EV 2LT (starting at $29,795), you’ll get leather-appointed seats and additional safety tech.

The 2023 Chevy Bolt EV seats five but suffers from the same crowded feeling in the back. That said, the Bolt is a great find: standard safety tech, wireless phone capability and a 0-to-60 sprint in 6.5 seconds. Plus, Chevy foots the bill for your home charging setup.

2. 2023 Nissan Leaf

Starting MSRP: $28,040

EPA-estimated range: 149 to 226 miles

The Nissan Leaf was the world’s first mass-market electric vehicle and has been around since 2010. While it hasn’t topped the list of the cheapest electric cars every year, it’s always been among the most affordable electric vehicles. This year, it yields first place to Chevrolet, but it still comes in under $30K before any potential tax credits.

For the low price of $28,040 (a slight increase over the 2022 model), you’ll get a compact hatchback offering 123 MPGe (miles per gallon equivalent) with a 149-mile range. If you want that max 212-mile range (a decrease from 2022), you’ll need to get the Leaf S Plus with the long-range battery. The Leaf S Plus starts at $36,040 before tax credits.

While you can fit five passengers in the Leaf, the rear seat is a little tight for adults (but it can be done!). Up front, passengers have access to a wide range of amenities, like Apple CarPlay and Android Auto smartphone integration. And don’t let its status as an economy car fool you; the Leaf comes standard with the Nissan Safety Shield 360, which includes active safety tech like Lane Departure Warning and Automatic Emergency Braking with Pedestrian Detection.

3. 2023 Chevrolet Bolt EUV

Starting MSRP: $28,195

EPA-estimated range: 247 miles

The Chevrolet Bolt EUV is in its second year and builds upon the work done by the Bolt EV, one of the world’s most popular electric cars. You’ve got more options with the Bolt EUV — four trims instead of two, from the standard LT to the premium Premier Redline with sporty red accents and luxury features.

What we like about the EUV over the EV is the more spacious cabin — we tall people appreciate every extra inch of legroom an automaker will throw at us. The Chevy EUV is also available with the GM Super Cruise system (the hands-free autonomous driving system that gets us one step closer to the inevitable robot takeover).

4. 2023 Hyundai Kona Electric

Starting MSRP: $33,550

EPA-estimated range: 258 miles

The 2023 Hyundai Kona may have the fiercest styling of any vehicle on our list — that wheel design is especially attractive, and on base-level trim models, you can go with a two-tone paint job. Inside, wireless connectivity and comfy seating make the Kona a standout.

And at 258 miles of range on all three trims, the Kona Electric is one of the better options for longer trips; Level 3 quick charging isn’t so quick, however. It’ll take you 47 to 64 minutes, depending on the DC fast charging equipment.

For those keeping score, the price of the Kona Electric actually went down for 2023 by $450.

5. 2023 Mini Cooper SE Electric Hardtop 2 Door

Starting MSRP: $34,225

EPA-estimated range: 114 miles

If you’re drawn to the iconic styling of Mini Coopers, you won’t be disappointed by the SE Electric. But it also gets just enough personality of its own that differentiates it from other Coopers (look at those wheels).

Where you will be disappointed by the new hardtop model is in the range. At 114 miles per charge, the 2023 Mini Cooper SE Electric Hardtop 2 Door has the one of the lowest ranges of any of the 10 most affordable electric cars on our list.

With all these new electric cars on the market, there’s bound to be some good deals on used ones. Check out our tips for snagging the best used electric cars.

6. 2023 Volkswagen ID.4

Starting MSRP: $38,995

EPA-estimated range: 275 miles

In 2022, the Volkswagen ID.4 claimed the 10th spot on our most affordable EVs list. This year, a considerable price drop (from more than $41,000) has bumped it up.

But that’s not all that dropped: Range for the 2023 model is 275 miles — not bad at all, but the 2022 model managed 280. Even so, with fast charging, you can get 220 miles of range in roughly 30 minutes.

Last year, waiting lists abounded for new cars, especially electric vehicles. And while many EVs on this list took a while to get, the Volkswagen ID.4 was a standout, at times commanding more than four-month waits from order to delivery.

7. 2023 Kia Niro EV

Starting MSRP: $39,450

EPA-estimated range: 253 miles

Sleek crossovers are a dime a dozen, but add the electrification of the Kia Niro EV and its impressive range of 253 miles, and you’ve got something truly special. For 2023, its range climbed 14 miles per charge, yet its price dropped by roughly $500.

Despite its single electric motor, the Niro EV is no slouch, cranking out 201 horsepower and 188 lb-ft of torque and launching from 0 to 60 in 7.1 seconds. Plus, the electrified crossover offers standard driver-assist safety tech, a premium sound system, and DC fast charging that adds more than 200 miles of range in just 45 minutes.

8. 2023 Hyundai IONIQ 5

Starting MSRP: $41,450

EPA-estimated range: 220 to 303 miles

A new entry on our list this year, the 2023 Hyundai IONIQ 5 is an EV to watch. MotorTrend named it the 2023 SUV of the Year, and its premium trim level earns up to 303 miles of driving range — but costs $52,600.

For the $41,450 price point, you’ll get the base IONIQ 5 model, which still offers an impressive 220 miles of range. The base model sits on sporty 19-inch alloy wheels and offers ultra-fast charging.

On the other end of the trim spectrum are features like the Blind-Spot View Monitor, vision roof, and Premium Head-Up Display with Augmented Reality.

9. 2023 Toyota bZ4X

Starting MSRP: $42,000
EPA-estimated range: 242 to 252 miles

Another new entrant on our list of the 10 cheapest EVs this year is the 2023 Toyota bZ4X — as uniquely named as it is styled. But this electric SUV offers more than funky styling.

For starters, the sporty engine promises 201 horsepower and 196 lb-ft of torque. If you opt for the available all-wheel drive, those numbers jump to 214 and 248, respectively.

Toyota has also outfitted its bZ4X with a plethora of safety technologies (under the Toyota Safety Sense 3.0 umbrella), including the Pre-Collision System with Pedestrian Detection, Full-Speed Range Dynamic Radar Cruise Control, and Lane Departure Alert with Steering Assist.

10. 2023 Subaru Solterra

Starting MSRP: $44,995

EPA-estimated range: 111 to 114 miles

Subaru has entered the world of full electrification with its 2023 Solterra. Despite this being its first fully electric model, Subaru has already joined the ranks of the most affordable EVs — even with its legendary symmetrical all-wheel drive system.

That doesn’t mean the Solterra is cheap. You’ll still have to spend, at a minimum, $44,995, though the top trim (Touring) starts at $51,995.

While there’s a lot to like about this new EV, Subaru has a long way to go in perfecting its electrified lineup. The 111-mile range is the lowest on our list, and its potential 114-mile range (for the base trim) only ties with Mini Cooper, which has the second-lowest range.

And it’s roughly just a third of the range you can get from the (more affordable) Hyundai IONIQ 5.

A Note on the Most Affordable EVs of 2023

Our list of the 10 cheapest electric cars for 2023 only includes the 2023 model year. In the first half of 2023, you may be able to find cheaper EVs on dealer lots by looking for remaining 2022 inventory.

Finally, note that some models on our list have limited availability, meaning you may only be able to purchase them in select states.

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How Electric Car Tax Credits Work

Back in 2010, the federal government introduced a program awarding customers $7,500 in tax credits for purchasing electric vehicles. The goal was to incentivize buyers — whose major hesitations were price and range — to give EVs a shot.

So if a new electric vehicle cost $50,000 and came with a $7,500 tax credit, EV buyers could think of it as a $42,500 purchase.

Of course, customers had to pony up (or finance) the whole $50K when making the purchase, but when filing taxes, drivers could add a one-time tax credit to their return.

Previous federal tax credit legislation limited automakers to 200,000 EVs before their tax credits went away. The Inflation Reduction Act eliminated that threshold — but added a lot more (confusing) eligibility requirements, some of which were implemented at the start of 2023.

To be eligible, you’ll need to fall below certain adjusted gross income thresholds (based on your filing status). Vehicles have even more hoops to jump through to qualify, including having critical battery materials sourced in specific locations (i.e., the U.S. or countries with which we have free trade agreements).

The IRS was not able to implement all the revisions to the tax credit on Jan. 1, 2023, as originally anticipated, so you’ll need to keep up with tax credit updates as you plan to purchase a new electric vehicle.

Military Discounts on Electric Cars

Many automakers offer military discounts on their entire lineup, including EVs, which makes it easier for active duty members of the military, veterans and their immediate family to find affordable fully electric vehicles.

Though the programs vary, they typically entail a $500 rebate or bonus cash.

If you’re a member of the military exploring electric mobility, check out one of these automotive military discount programs:

How Much Does It Cost to Own an Electric Car?

New electric vehicles are about $10,000 more than gas cars if you just look at sticker price. But that’s comparing apples to oranges. For a better comparison, factor in the full cost of ownership, from maintenance and insurance costs to federal tax rebates

When calculating how much you’ll spend on — and how much you’ll save with — an electric car, include these considerations:

Federal Tax Credits

Some EVs are eligible for up to $7,500 in tax credits, though new restrictions imposed as part of the Inflation Reduction Act may actually make it more challenging for EVs to qualify.

Maintenance Costs

EVs are famously less expensive to maintain because they don’t require oil changes or air filter replacements. In a given year, you could save hundreds or thousands on routine car maintenance.

That said, when electric cars need to be repaired (or the battery needs to be replaced), the work is considerably more expensive. Battery replacements can cost several thousand dollars, even more than $20K. That said, most new EVs come with an extended battery warranty that may cover your first replacement, depending on the timing.

Insurance Costs

Because electric cars are more expensive to repair, car insurance premiums tend to be more expensive. According to ValuePenguin, EV insurance policies typically cost 25% more.

Charging Costs

Gas cars require, well, gas — and it isn’t cheap. Electric cars, on the other hand, are powered by, well, an electric motor. And recharging that electric motor at home is much more affordable than buying a tank of gas. Sure, your monthly utility bill will go up, but the cost is negligible compared to what drivers are spending each month on fuel.

You should, however, factor in the installation of a charging station at your home when considering a new or used EV purchase. Depending on your setup, expect to spend $1,000 to $2,000 on your at-home charging station — but some automakers (like Chevy) will pay the cost for you.

Contributor Timothy Moore is a writer and editor in Cincinnati, Ohio. He focuses on banks, loans and insurance for The Penny Hoarder. His work has been featured INSIDER, Sound Dollar, Forbes, HomeAdvisor, WDW Magazine, Chime and SoFi.

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January 20, 2023
The 5 Best Mystery Shopper Side Gigs for Retail Sleuths
Want to become a mystery shopper? If so, we’ve found the five best mystery shopper companies to work for.

Mystery shoppers go by a couple different names – evaluators, secret shoppers — but, regardless of the name, the job’s the same: mystery shoppers document their experiences to help businesses who deal with the public a lot.

Workers can score everything from free food to extra money when they work for a mystery shopping company.

Mystery shopping jobs are pretty plentiful, too. The mystery shopping industry has been around since the 1940s and is a nearly $2-billion-dollar-a-year industry.

Ready to learn how to get paid to shop? This post includes information about the best mystery shopping firms around (and what makes a reputable company), average pay, how to avoid mystery shopping scams and more.

What Is Mystery Shopping?

Mystery shopping is a job where a company pays you to pose like a regular customer. You’ll provide valuable feedback to the company — from how clean the store was to how the employees interacted with you. In exchange for your feedback, they pay you a fee, and in most cases, you’ll be asked to buy something and then be reimbursed up to a set amount. You will know that amount before you buy.

Many mystery shopping trips entail visits to retail stores, food markets or phone shops. However, for some gigs, you might visit local restaurants (free food!) or even theme parks. There are also phone mystery shopping companies where you interact with call centers and gauge the setup.

Typically, you’ll write up a report on your experience from the customer’s point of view and submit it to the client by a deadline. From there, you’ll get paid.

How Do You Get Started as a Mystery Shopper?

You can look up mystery shopping gigs on dedicated company websites (we’ll get to that soon) or via a job board, like Indeed.com.

After you apply and your application is approved, you simply log in to the company’s website and select the jobs you want to do. These firms will provide you with all the instructions, and after you’ve completed the shop, you’ll need to enter your feedback into their websites. Some pay via direct deposit, but most will mail you a check at the end of the month.

It varies by company, but you typically need to be 18 or older to be hired by a mystery shopping company. For assignments around liquor or alcohol, you’ll need to be at least 21 years old. Some gigs also have ranges. For example, a company might request someone between the ages of 18 and 30 so they can appear to be a college student. Some mystery shopping jobs also require you to have reliable transportation.

Qualities of a Good Mystery Shopper

To be a successful mystery shopper, you’ll need to:
- Read thoroughly. Make sure you read the job description completely and understand the requirements.
- Be detail-oriented. Watch and listen closely when mystery shopping plus take notes and photos. Successful secret shoppers are meticulous with their data.
- Stay organized. Hold on to any receipts, business cards and other items you need to submit to get reimbursed and paid for the gig. Adhere to deadlines, too (put a reminder on your calendar!).
Mystery shopping can be a great way to earn pocket cash, but you’ll want to treat this gig like any other job. Especially since not following the rules means you won’t get paid.

How Much Money Can You Get Paid for a Mystery Shopping Job?

It varies based on the company and assignment. Across the U.S., mystery shoppers make approximately $970 a week. Gigs run the gamut, from $12 and a free meal to $100 as a flat rate and beyond.

It’s important to note that, as a mystery shopper, you’ll be an independent contractor. That means you’re responsible for paying your own taxes. You can keep tabs on deductions (like paying for gas to get to a gig) to help with your tax burden at the end of the year. Many companies require shoppers to sign an independent contractor agreement (versus signing them on as a W2 worker), so keep that in mind if you’re looking for a full-time situation that offers health insurance and other benefits.

On the plus side — since you’re not an employee — you should be able to mystery-shop for multiple companies at one time.

How Do You Get Paid?

Similarly, it depends on the company hiring for the assignment — each one has its own rules surrounding payment, from how it’s issued to how often you’ll see your money.

Many mystery shopping companies pay via PayPal, though some do direct debit and physical checks, too. Some offer gift cards in lieu of cash payment, as well.

5 of the Best Mystery Shopping Companies
- Sinclair Customer Metrics
- Market Force Information
- IntelliShop
- Elite CXS
- Mystery Shopping Service
Here are some of the companies where you can find mystery shopper jobs. Also, all of them are free to join:

1. Sinclair Customer Metrics

Sinclair Customer Metrics has been in the mystery shopping game since 1987. It specializes in the banking, retail, grocery store, (quick-service) restaurant and convenience store spaces. And on top of in-person gigs, Sinclair offers video mystery shopping to clients, too, complete with a hidden camera.

People looking for a mystery shopping assignment can sign up here.

Better Business Bureau rating: A+.

How payment is distributed: Check.

When payment is sent: You’ll be paid once a month, the last week of the following month after your last completed assignment.

What you need to get paid: Submit completed assignments on time and adhere to all specifications.

2. Market Force Information

Market Force Information works with clients in a variety of industries, from health and wellness and movie studios to specialty retail and alcohol and tobacco. The firm has offices in the U.S., Canada and the United Kingdom, and provides gigs in thousands of locations. Market Force also has an app, Eyes:On, which allows mystery shoppers to complete assignments on the go.

People looking for mystery shopping gigs can sign up here.

Better Business Bureau rating: A+.

How payment is distributed: Direct deposit.

When payment is sent: Monthly, on the 15th.

What you need to get paid: Submit completed assignments on time and adhere to all specifications.

3. IntelliShop

IntelliShop is a customer experience research and improvement firm. The firm’s specialties are in the customer experience, online reputation management, and loss prevention and compliance sectors. IntelliShop provides coverage in more than 18K cities in the U.S. and Canada and 180 countries.

Prospective shoppers seeking a mystery shopping assignment can sign up here.

Better Business Bureau rating: A+.

How payment is distributed: PayPal.

When payment is sent: Approximately 30 days after the last day of the month in which your mystery shopping trips were completed.

What you need to get paid: All shop documentation (a business card, receipt, etc. — anything required for a particular task) must be submitted to receive payment for the shopper challenge.

4.Elite CXS

Elite CXS is a veteran-owned, award-winning mystery-shopping operation based in Hudson, Florida. The company has partnered with major brands, such as Porsche, T-Mobile and Gold’s Gym. Jobs vary by region across the U.S, but Elite CXS places evaluators in video, phone and in-person shopping gigs in a variety of industries.

Interested mystery shoppers can sign up here.

Better Business Bureau rating: A+.

How payment is distributed: PayPal.

When payment is sent: Once a month.

What you need to get paid: Submit completed assignments on time.

5. Mystery Shopping Service

Mystery Shopping Service has been around for more than 20 years. The company serves the real estate, senior living and healthcare, retail, and hospitality industries across the U.S. Mystery shoppers could be tasked with calling a business and reporting on the conversation or touring an apartment building under the guise of a potential renter.

Prospective mystery shoppers can get more information on available gigs and apply here.

Better Business Bureau rating: A+.

How payment is distributed: PayPal or check.

When payment is sent: End of the month.

What you need to get paid: Submit completed assignments on time as outlined in the assignment instructions.

What’s Life Like for a Secret Shopper?

You can become a mystery shopper in a number of ways. In fact, our CEO started mystery shopping as a teenager. (He’s also completed more than 5,000 mystery shops to date!)

He got his start mystery shopping at local grocery stores, an Ikea, fast-food establishments, restaurants and liquor stores. On another assignment, he was asked to pretend he was shopping for a car — he took a test drive and everything — and earned a cool $60 for each dealership he went to that day.

He’s since hung up his mystery-shopping boots. But back in the day, he was usually paid between $8 and $25 per secret-shopping trip. There were months where he earned more than $5,000, but most months, he earned $400-$500 in extra money for mystery shopping.

Your mileage may vary, of course. But it can be a semi-lucrative and fun gig for the right person.

Warning: Be Careful of Mystery Shopper Scams

Unfortunately, if you’ve looked into mystery shopping before, you know there are a lot of scammers trying to take advantage of this industry’s growing popularity.

A few rules of thumb:
- Never pay to join a mystery shopping company. The real ones never ask for a payment from you.
- Never pay money to a company to see their list of jobs. Legitimate mystery shopping companies are always short of shoppers, so they never ask for you to pay to see a list of their jobs.
- Also, legit mystery shopping companies shouldn’t force you to take a certain number of jobs.
Still confused about an opportunity? The Mystery Shopping Providers Association (MSPA) is a trade organization that offers resources for secret shopping companies and guidelines for individuals who are interested in this type of work. Also, check out online reviews for any company before you work for them.

There are a ton of real mystery shopping companies, so do your due diligence to stay away from the scams.

Frequently Asked Questions (FAQs) About Mystery Shopping

Here are some FAQs when it comes to mystery shopping companies and gigs.

Which Mystery Shopping Company Pays the Best?

BestMark is one of the largest mystery shopping companies, so you’ll have a wide variety of jobs to pick through and choose based on pay.

Overall, though, it’s worthwhile to sign up for a couple different companies and see what’s out there. Also, consider that the types of gigs you go after (visiting three grocery stores in one day vs. answering a 10-minute survey, for example) will have an effect on your pay. If you choose more involved tasks, the pay tends to go up with the workload.

Which Mystery Shopping Companies Are Legitimate?

The five companies listed in this article are all legitimate mystery shopping companies. However, it’s worth looking at recent online reviews so you can learn from other evaluators’ experiences. (Also, note that BBB ratings do not necessarily mean that a business is BBB accredited.)

Always do some research before taking a gig and revisit the section on scams so you know what to avoid.

How Much do Professional Mystery Shoppers Make?

Mystery shoppers can make anywhere from a few bucks to several hundred a week. Depending on your availability and the job pay, you have some control over how much you can make. Remember, though, that it will typically take a couple of weeks (minimum) before you will receive the pay for your work.

Contributor Kathleen Garvin (@itskgarvin) is a personal finance writer based in St. Petersburg, Florida, and former editor and marketer at The Penny Hoarder. She owns a content-writing business and her work has appeared in U.S. News, Clark.com and Well Kept Wallet.

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kathleen@thepennyhoarder.com (Kathleen Garvin)

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January 20, 2023

Scared of Trading Bitcoin? Cash App Isn’t

The way people bank, invest and manage money has changed rapidly over the past few years and Cash App is one of few platforms that has been nimble enough to adapt to the digital financial world and continue to serve customers’ needs.

The app by Block, Inc. (formerly Square, Inc.) — previously called Square Cash — started as a money transfer app. The app had a particular appeal to communities who are traditionally unbanked or underbanked because of its ease of use, lack of fees and almost exclusively mobile design.

Cash App has continued to expand since its inception in 2013 to include more ways to uniquely serve this customer base and broaden the app’s appeal. Now the app supports money transfers, banking, stock and ETF investing, Bitcoin trading and tax filing.

In our Cash App review, we’ll cover everything you need to know to figure out whether Cash App is the right place for your money — including its banking features, fees, perks and customer service.

Cash App Review: Accounts

Account	Minimum Deposit	Best for	Ease of Use
Cash App Account	$0	Money transfers	Very easy		GET DETAILS
Cash Card	$0	Direct deposit	Very easy		GET DETAILS

Cash App Account

Best for Peer-to-Peer Payments

Key Features

Send and receive money with friends
Send as cash, stock or Bitcoin
Pay with your Cash App balance

Use your basic Cash App account to send and receive money with friends, family and merchants who use Cash App. Send payments using a recipient’s email, phone number, $Cashtag or QR code, and see payments you’ve received in an activity feed with notes from the sender. You can use your balance to send payments as cash (USD), stock or Bitcoin (BTC).

Minimum deposit

Send payments

In cash, stock or bitcoin

Pay merchants

Directly

Prime perk

Easy-to-use QR code

More Information About the Cash App Account

Everyone who signs up for Cash App starts with a basic Cash App account, which you use to send and receive money. This peer-to-peer payment function is Cash App’s bread and butter, and is the app’s original purpose and reason most people download the app.

When you create an account, you’ll choose a username called a $Cashtag. Friends can use your $Cashtag, email address or phone number to send you money through the app, or they scan a unique QR code that links to your Cash App account.

Cash App is available for users in the U.S. and UK, and you can only send and receive payments with users in these countries. The app supports USD and GBP currencies.

Other Features of the Cash App Account

The following features can help you decide if the Cash App Account is right for you.

Cash App Payments

As soon as you sign up for a Cash App account you can receive money. You can send money as long as you have a balance in the app — you are not required to connect a bank account to use Cash App.

Before you can transfer money to friends, you must enter your name, birthdate and last four digits of your Social Security number to verify your identity, which is a common practice with any financial institution.

To “cash out” (i.e. transfer your Cash App money to a bank account) or send more money than you have in your Cash App in-app balance, you can connect a bank account using your debit card information or your bank’s online login details. Cash outs instantly send money to the bank account you connected to Cash App.

Send Cash, Stocks or Bitcoin

With Cash App, you can send funds as cash, stock, or Bitcoin. You do not need to own stock, Bitcoin, or have an investing account for either to send them as funds through Cash App app. Instead, Cash App pulls the USD (or GBP if you’re in the UK) from your account balance and gives the recipient the option to use it to buy the stock or Bitcoin you “send.”

Others can send you money as stock or Bitcoin, too, and you have the option to accept or decline it.

To accept stock, you have to have or open a brokerage account in the app. To accept Bitcoin, you have to verify your identity in the app, but you don’t need a separate crypto wallet. If you decline stock or Bitcoin payments, you will get the sent money as cash instead.

Cash App Pay

You can use your Cash App account directly to pay merchants who use Square for payments — for example, at markets, small businesses and online stores. This feature is called Cash App Pay. To do so, scan the vendor’s QR code with your phone and follow the prompts to complete the payment from your balance. You can also use Cash App Pay at participating vendors’ websites. Select “Cash App Pay” at checkout, either scan the Cash App QR code if on desktop (or if you are on mobile, you will automatically be redirected to the app itself), and follow the prompts to complete your online transaction.

A Cash App account on its own doesn’t work with other online or mobile payment systems; you need a Cash Card to do that.

Banking With Cash Card

Best for Basic Checking Account Needs

Key Features

No minimums and no service fees
Early payday with paycheck direct deposit
Pay with your Cash App balance anywhere

Signing up for a Cash Card turns your Cash App account into a full-on bank account. You can receive direct deposits, get paid up to two days early, pay with your Cash App balance anywhere Visa is accepted and get unlimited free ATM withdrawals when you have at least $300 deposited each month. Plus, you can personalize your card with a doodle right in the app.

FDIC insured

Lincoln Savings Bank

Direct deposit

Get two days early

ATM withdrawals

Unlimited with at least $300 deposit each month

Prime perk

Deposit cash through retailers such as Walgreens, 7-Eleven, Family Dollar and Speedway

More Information About the Cash Card

To get more functionality out of your Cash App account, sign up for the Cash App debit card called Cash Card, a debit card that turns your Cash App account into a fully-fledged bank account.

With a Cash Card, your Cash App account becomes an FDIC-insured direct deposit account backed by Lincoln Savings Bank.

Other Features of the Cash Card

The following features can help you decide if the Cash Card is right for you.

Funding the Account

You can use your routing and account number to set up direct deposit for your paycheck and other payments. You can get paid up to two days ahead of the scheduled payday depending on when the payer initiates a direct deposit.

The Cash App account can only be funded through electronic payments: direct deposit, transfers from a linked bank account or payments from other Cash App users. As of 2022, Cash App users can deposit checks through the app. To do so, tap the “$” icon to see your Cash App balance. Then, tap on the “Deposit a Check” option, enter the amount of the check you are depositing, then follow the prompts to take photos of the front and back of the check. You cannot use Cash App for wire transfers, though.

You can deposit cash into your account through retailers including Walmart Customer Service Desk/ Money Centers, Walgreens, 7-Eleven, Family Dollar, Sheetz, KwikTrip, Speedway, StopNGo and Dollar General.

Withdrawing Cash

You can withdraw cash from ATMs with your debit card, and Cash App will reimburse up to three ATM fees each month as long as you receive at least $300 in direct deposits each month. Otherwise, you’re responsible for a $2 ATM fee charged by Cash App, plus any fees the ATM operator charges.

You can also use your bank account to pay bills and credit card payments by giving the payee your Cash App routing and account number to schedule a payment or set up auto pay.

You can use your Cash Card for purchases anywhere Visa is accepted. The fun part? When you order a Cash Card, you can add a custom doodle or emojis to the card’s design from right in the app; you will be the only one to own that unique Cash Card.

Debit Card Rewards

When you pay with your Cash Card, you have access to special deals from retailers with Cash Boost discounts.

Find Boosts from the Cash Card section in the app, and select a Boost you want to use. The Boost will be added to your account and applied when you buy from that retailer.

A Bitcoin Boost is an offer that rewards you in Bitcoin for a purchase with your Cash Card. Those rewards go straight to your Bitcoin balance.

Investing and Cryptocurrency

Cash App seamlessly integrates investing and Bitcoin collecting into the app alongside banking and payments.

Stock Investing With Cash App

You can use Cash App to open a brokerage account and trade stocks and mutual funds. The app shares stock market news and lets you see the recent performance of stocks before you buy.

The app is set up for active, self-directed stock trading, so it’s not a good fit if you prefer a robo-advisor to create a portfolio for you. You can set up daily, weekly or bi-weekly auto-invest on particular securities. You can buy fractional shares of any stock or ETF with as little as $1 ($10 for auto-invest).

Cash App doesn’t make every stock or fund available, though it’s constantly expanding what you can access through the app.

For now, you can buy or sell stocks or ETFs listed on the New York Stock Exchange (NYSE) or Nasdaq that have more than $1 billion in market capitalization or more than $5 million average daily trade volume, as long as they’re supported by DriveWealth, the broker behind Cash App Investing.

Buy and Sell Bitcoin on Cash App

You can use your Cash App funds to buy Bitcoin through the app without setting up a separate crypto wallet or an account on a crypto exchange.

You can always deposit Bitcoin into your Cash App Bitcoin account (a crypto wallet within your account) by sharing your wallet address with an external wallet. Don’t send any other cryptocurrencies to Cash App — the app only supports Bitcoin and all other currencies will simply be lost in the transaction.

Withdraw Bitcoin to an external wallet by entering the wallet’s address in Cash App to make the transfer.

Pay With Bitcoin

You can make payments in Bitcoin to friends, family or merchants using the option to pay with Bitcoin during the transaction. These transactions come out of your Cash App account balance, not your Bitcoin wallet balance. Technically, you send the recipient cash they can use to buy Bitcoin.

To send and receive Bitcoin directly between your wallet and another, you have to enter the other wallet address or scan their QR code in the Bitcoin section of the app. That way you can make an actual decentralized transaction on the blockchain. (This feature is available everywhere in the U.S. except New York state.)

Cash App Taxes

Starting in 2022 (for the 2021 tax year), Cash App has taken over Credit Karma Tax to let you file your taxes for free from the app or online.

Cash App Taxes supports most common tax situations, including some for more complex filers, like business income and itemizing deductions. You can file a federal and state tax return for free and have the option to get your refund deposited directly into your Cash App account.

Like other tax software, Cash App Taxes comes with an accuracy and maximum refund guarantee.

Cash for Business

If you want to use Cash App to get paid for products or services you sell in your business, you need a business account in the app. It is easy to change your account type via your in-app profile.

A Cash for Business account gives you unlimited daily transfers, while a personal account limits them, so you can accommodate the higher volume of transactions you’re likely to have as a business. Cash for Business accounts let you receive payments from customers using credit or debit cards by sending them a payment link.

Cash for Business is a good option for new and very small businesses, but its features are limited to sending and receiving cash. As your business grows, you can switch to Square or another payment processor to access more features.

Business owners accrue a 2.75% transaction fee to receive money through Cash for Business. This fee is automatically deducted from each sale. Sending money is always free.

Cash App Fees

Fees in Cash App are minimal. The app does away with common financial services costs, including:

There’s no minimum deposit to open an account and no minimum balance.
Cash App has no monthly fees
There are no overdraft fees — if you have insufficient funds, transactions will be declined.
Cash App does not charge commissions for investing.
Cash App does not charge foreign transaction fees for using your Cash Card for purchases in or from other countries.
Up to three ATM fees per month are reimbursed so long as you have at least $300 per month in direct deposits.

You can expect to pay these fees:

ATM withdrawal: Cash App charges $2, and you must pay any fee charged by the ATM operator outside of the Visa network. Cash App reimburses up to three ATM fees per month so long as you have at least $300 per month in direct deposits.
Investing fees: Cash App will alert you before a buy if your investment comes with any regulatory or government fees.
ETF expense ratios: ETFs and mutual funds usually come with fees of around 0.5% to 2%, which come out of your investment account balance (i.e. no upfront fees). Those fees go to the fund managers, not Cash App or its broker.
Bitcoin fees: Cash App may charge a fee when you buy or sell Bitcoin, which varies with the market price of the cryptocurrency. You must also pay a fee for an expedited Bitcoin withdrawal, but standard-speed withdrawals are free.

Cash App Customer Experience

Cash App has a pared-down, intuitive and user-friendly design with an interface that makes it easy to set up in seconds and simple for anyone to figure out how to use it. You can easily flow between banking, sending and receiving money, stock investing and Bitcoin collecting from one screen.

The app is highly rated: 4.7 stars in the Google Play Store and 4.8 stars in the iOS App Store.

You can contact customer support for Cash App primarily through the app, and you can also reach them:

Online at cash.app/help.
Over the phone at 800-969-1940.
On social media @CashApp on Instagram, Twitter, TikTok and Twitch; u//CashAppAndi on Reddit; and SquareCash on Facebook.

Avoid Cash App Scams

The biggest consumer complaint about Cash App is less about the app or company itself and more about how scammers have used the app to steal users’ information or money.

To avoid scams, Cash App recommends:

Only send payments to people you know and trust. Do not respond to transfer requests from accounts you don’t recognize.
Double-check recipient information like their email address, phone number or $Cashtag before sending money to make sure the funds are going to the right person.
Check the recipient’s profile to make sure it is the person you’re looking for. Do not make a guess or assumption based on a $Cashtag.
Do not send money to anyone who sends a request and promises something in the future (like free money in return).
Do not give your Cash App password, PIN or other sensitive information to someone who asks for it, even if they claim to be from Cash App. The company says it will never ask you to share sensitive information, even for Cash App sweepstakes and giveaways.
Do not ever send a “test” transaction to someone claiming to be from Cash App. The company says it will never ask for this.

If you get scammed through the app, you can report an issue with the payment through the app and report or block the account. Cash App notes most transfers cannot be canceled, though you can file a dispute for a fraudulent Cash Card transaction.

Is Cash App Right for You?

Cash App is a straightforward banking, payments and investing app for individuals with uncomplicated financial circumstances.

Some people wonder how safe Cash App is. Most popular money transfer apps keep your money safe by encrypting your data, requiring security measures and offering bank-backed protection for your account balances. To learn more about Cash App’s major competitors, check out our comparison of Venmo versus PayPal.

Cash App might be right for you if you:

Live in the U.S. or UK.
Have trouble opening traditional bank accounts because of bad history on ChexSystems.
Use a bank account for yourself and do not need a joint account.
Frequently exchange money with friends or family.
Want to dip your toe into stock or crypto trading without a major investment.
Get paid primarily through direct deposit.
Own a small business that needs a simple, affordable and mobile POS.

Cash App probably isn’t a fit for you if you:

Live outside of the U.S. or UK.
Need a joint bank account with a partner.
Need a business bank account.
Want other financial products, including savings, loans, credit cards and other services in one place.
Want a robo-advisor for passive investing.
Are interested in cryptocurrency other than Bitcoin.

Pros and Cons of Cash App

This list will help you understand the great and not-so-great attributes of Cash App.

Pros

Send and receive cash, stock and Bitcoin with friends and family for free
Invest in stocks and ETFs with as little as $1
Pay with your Cash App balance at Square merchants
Use your Cash Card for in-store payments anywhere Visa is accepted
No minimums and no service fees for banking
Early payday with direct deposit if you get a Cash Card
Up to three free ATM withdrawals per month with a Cash Card
Mobile banking with cash deposits
Commission-free investing

Cons

Only available in the UK or U.S.
You cannot order or write paper checks
No joint accounts
You will not earn interest on your account balance

Frequently Asked Questions (FAQs) About Cash App

Here are our answers to common questions about Cash App.

Yes. While users have reported scams to watch out for, you can trust that Cash App keeps your money safe. Cash App’s parent company, Block, Inc. (formerly Square, Inc.) was founded in 2009 by former Twitter CEO Jack Dorsey and entrepreneur and venture capitalist Jim Mckelvey. Cash App encrypts your data and offers security measures and fraud protection to keep your identity and money safe from thieves. FDIC and SIPC insurance through partner banks protects your account balances.

Can Cash App Take Your Money?

No. The money in your Cash App account, Bitcoin wallet and brokerage account are yours. Cash App does not charge any service fees or commissions for investing. If you have been defrauded by someone claiming to be from Cash App, immediately report and block the account and contact Cash App customer service.

What Are the Disadvantages of Cash App?

Cash App’s simple banking and investing platform is not a good fit for everyone. If you have complex banking needs, like loans, credit cards, insurance or a business account, a more traditional bank account is a better fit. Cash App is best if your financial needs revolve on moving money around between friends and family.

Is Cash App Better Than PayPal?

Cash App and PayPal offer many of the same services, but Cash App focuses on consumers while PayPal is better suited for businesses. Both apps offer limited personal and business services, but Cash App is a better choice if you want to use a simple bank account and send and request money with friends and family.

Yes. You can open a Cash App account with no minimum balance, and there is no service fee. The app does not charge commissions for trading stocks, though you may pay occasional fees for trading Bitcoin and some regulatory fees for trading stocks. With a Cash Card, you pay a $2 ATM fee, but Cash App reimburses up to three ATM fees per month as long as you have at least $300 in direct deposits per month.

Contributor Dana Miranda is a Certified Educator in Personal Finance® who has written about work and money for publications including Forbes, The New York Times, CNBC, Insider, NextAdvisor and Inc. Magazine. Freelancer Kristin Jenny contributed to this report.

dana@danamedia.co (Dana Miranda, CEPF®)

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January 20, 2023

TaskRabbit Review 2023: A Gig App to Get Work Done
Odd jobs are as old as time. There have always been folks hiring people to perform tasks they don’t have the time or skills to do themselves.

The gig app TaskRabbit makes it easier than ever for service providers to make extra money and for clients to buy some free time.

Want to know how it works? In this TaskRabbit review, we cover what it takes to get to work on the platform, and what it’s like to hire through the platform to help everyone make the most of it.

What Is TaskRabbit and How Does It Work?

TaskRabbit connects gig workers with people who need help with jobs like cleaning houses, making deliveries or completing household tasks, such as installing a new faucet or putting together a bookshelf.

The app lets clients post the work they need help with. Service providers, called “Taskers,” use it to find jobs, contact potential clients and get paid for the work. Jobs are paid at an hourly rate, which Taskers set, and clients pay right through the app with a connected credit card or account.

Using TaskRabbit, instead of a classifieds site like Craigslist or other job-listing site, helps make sure service providers actually get paid for their work, and reassures clients that they are who they say they are and they’ve been vetted by the platform.

How does TaskRabbit work? Here are the basics.

Working for TaskRabbit

Here’s everything you need to know about making money through TaskRabbit.

Who Can Work for TaskRabbit?

To become a Tasker, you have to be at least 18 years old and live in one of 61 cities in the U.S. or those in seven other countries where the platform is active.

You can provide services across more than 35 categories in the app. Some require previous experience or expertise, but many don’t. You should be able to become a Tasker without any specific background or experience. Just choose tasks from the categories that fit your skills.

When Do You Work on TaskRabbit?

Like with any gig app, you make your own hours on TaskRabbit. Unlike some gig options, though, you have to keep an updated schedule on your profile in the app so clients see you in search results and you can avoid scheduling conflicts.

The client handles the entire booking process through the app.

When a client needs to book a service, they select from a list of chores in the app to search for available Taskers in their area. They read through your profile to make sure it matches their needs, then book an appointment based on your availability. You’ll receive notifications when clients request your services.

Once they’ve confirmed the appointment through the final booking page, you can communicate with each other through messages in the app to make sure you have all the information you need.

Clients can book same-day or future appointments, based on your settings, and the appointments will show up on your work schedule. Once you have the task completed, they’ll pay you your hourly rate through the app. You keep 100% of your rate plus any tips clients offer.

What Kind of Services Do You Provide on TaskRabbit?

Tasks on the platform range from the mundane to the creative across more than 50 categories. Some require experience or expertise in a certain field, but you can perform many tasks without any background.

Some gigs we’ve seen for Taskers include:

This is not at all exhaustive. You can pretty much get paid to do anything (legal) that a client doesn’t have the time or resources to do on their own.

How to Sign up for TaskRabbit as a Worker

To become a Tasker, you can sign up through the TaskRabbit website or download the iOS or Android app.

Pro Tip

Note that TaskRabbit uses separate apps for clients and Taskers — to offer services, download the “Tasker by TaskRabbit” app.

During the registration process, you’ll have to:
- Consent to an ID check.
- Provide a Social Security number (in the U.S.).
- Connect your bank account to get paid.
- Submit to a criminal background check (using your name, SSN and birth date).
In some cities, you’ll have to pay a non-refundable $25 registration fee when you sign up. Paying the fee doesn’t guarantee you’ll be approved as a Tasker, so if you have any concern you won’t pass the screening process, you probably want to save your money and try other gigs.

Once your profile is approved, you can begin tasking!

You’ll build your profile, listing the tasks you want to offer and your related experience and background, if necessary. You’ll also set your schedule, which determines your availability, and your service area, as a radius from where you live.

Getty Images

How Much Money Do You Make on TaskRabbit?

On Taskrabbit, you set your own rates, and the average hourly pay for Taskers in the U.S. is $48, according to TaskRabbit’s April 2022 fact sheet.

The rates you can earn through TaskRabbit gigs vary based on the types of tasks you take on and what clients are willing to pay. If you set your hourly rates higher than average, they might sift past you in their search, for example.

TaskRabbit no longer charges a support fee, so you keep 100% of what you earn plus any tips.

(Instead of taking a cut from you, TaskRabbit makes money from the service fee clients pay on top of your hourly rates. So the total cost to clients is a little higher, but you don’t have to fork over a share of your earnings.)

Don’t Forget About Taxes

Like all workers in the gig economy, Taskers are independent contractors in the eyes of the IRS and most state income tax authorities.

As an independent contractor, you’re completely responsible for paying income taxes on the money you earn through TaskRabbit. The company doesn’t withhold taxes the way an employer would.

To keep up with what you owe throughout the year, you’ll want to pay estimated quarterly taxes four times each year. If a substantial amount of your income comes from TaskRabbit or other gig work or self-employment, you’ll want to do the paperwork and stay on top of that quarterly tax bill.

If you’re just picking up an occasional gig here and there on the side of employment, your payroll taxes might cover anything you’d owe from tasking. Don’t count on it, though — do the math to estimate your tax obligation and make sure you’re not surprised with a bill in April.

Need a banking service that’s built for freelancers, helping you save for taxes and keep track of your expenses? Check out Lili. (It’s free!)

8 Tips to Make More Money on TaskRabbit

TaskRabbit and other gig sites that match eager workers with people who need odd jobs performed are often criticized as a difficult way for people to earn a decent living. Many of the independent contractors who complete tasks through these sites end up racing between different low-paying gigs, with long, unpaid commutes in between.

But that doesn’t have to be the case. If you’re strategic, you can use gig economy apps to make a serious side income or even to make a full-time living.

To make more money as a Tasker, follow these strategies.

1. Be Flexible

Set an hourly rate that makes any task worth your time, and be willing to take on a variety of tasks to fill out our schedule. We’ve learned from experts that flexibility is key to high earnings on the app.

Being willing to work on call is extremely helpful, too. That availability could give you a leg up on other Taskers and win you more gigs.

2. Be Versatile

You might have preferences for some types of tasks, but your best bet to earning good money through the platform is to be open to a variety of gigs.

If that’s not your bag, no worries; TaskRabbit just might not be the best platform for you. On this platform, it’s all about fulfilling client’s unexpected needs.

One day, you could find yourself walking dogs, and the next week, you’ll be parking strollers outside of preschool. The app connects you with an array of odd jobs, and the more open you are — they’re called “odd” for a reason — the more money you could earn.

3. Capitalize on Your Skills

Top-dollar Taskers earn their cash by having top-notch skills. You can be willing to take on the occasional stroller-parking gig, but you can command the highest rates doing things like carpentry, construction and other handyman tasks clients hire out because they don’t have the skills themselves.

Having top-notch, in-demand skills help you rise to the top of the pack.

Figure out your strengths: Maybe you have a big truck for moving jobs, you’re a neat freak, you’re an expert at IKEA furniture assembly or you run a handyman business. Keep an eye out for gigs that require those skills to get the most for your time.

4. Invest in Your Business

If you want to take this tasking thing full-time, it could be worth some investment. Maybe you see a lot of gigs for moving help, so you buy a truck or a van to stand out against the competition. Or maybe you invest on a smaller scale, like a set of cleaning supplies or tools.

5. Build an Appealing Profile

A strong profile that highlights your skills and abilities will help you stand out to clients as they scan through bids.

Choose a quality, fun photo of yourself and take the time to write an informative bio. Link to your social media profiles, especially LinkedIn, to highlight your background and expertise. If your profile shows you’re experienced, approachable and intelligent, you’ll have a much higher chance of landing gigs — even if you don’t have the lowest rate.

6. Work With Your Busy Schedule, Not Against It

Run lots of errands already? Choose tasks that fit with your own to-do list to get paid for the running around you have to do all day.

Figure out which types of services to focus on by considering what works with your life. Maybe you can plan your grocery shopping or donation drop-offs to coincide with tasks, for example.

7. Set Your Prices Well

Choosing a fair and accurate price for a job can keep you from being passed over or worrying about being paid less than your work is worth.

Set prices that make the work worth your time, and use your profile to let clients know why you’re worth it. In the long run, that’ll help you build a much stronger business or side hustle than simply trying to be the lowest bidder.

Don’t be afraid to experiment as you get started to figure out the best balance for getting the most tasks and earning fair wages.

8. Use the TaskRabbit App to Check Tasks on the Go

Increase your productivity by checking the app while you’re out and about. Does anyone need anything from your area, whether it’s groceries or a lunch delivery? Have you had any task requests?

Being able to check on available tasks while you’re away from your computer adds a little extra productivity to your work.

Getty Images

FAQs About Working for TaskRabbit

Here are answers to some of the most common questions about working as a Tasker.

Is TaskRabbit legitimate?

Yes. TaskRabbit has been around since 2008 and has a reputation as a safe marketplace for gig work. The company is owned by the multinational company that owns IKEA, and it has more than 1.5 million users, more than 140,000 of whom are Taskers who earn money through the platform, according to its 2019 fact sheet. Over the past decade, more than nine million tasks have been completed on the platform, with furniture assembly being the most popular task in 2021.

Is TaskRabbit a good way to make money?

Whether TaskRabbit is a good gig for you depends on your financial goals and lifestyle. At an average of $48 per hour in the U.S., the earnings are well above minimum wage — even when you cut them in half to account for self-employment costs and taxes. Your total earnings depend on how many hours you’re available and where you live, which could determine how much commuting you have to do between gigs and how many clients are around.

Do you pay taxes on TaskRabbit?

In the U.S., Taskers are classified as independent contractors for tax purposes, which means you’re responsible to pay all of your taxes owed, including a self-employment tax. Money you earn through TaskRabbit counts as earned income (just like any work income). You have to file an income tax return if your earnings from self-employment are $600 or more.

Do you need a license for TaskRabbit?

In California only, you need a business license to operate as an independent contractor in any capacity, including as a gig worker. This license confirms you’re a service provider and not an employee of the company (which keeps TaskRabbit out of legal hot water). You can get a license as a sole proprietor (i.e. a solo person), so you don’t have to form a business entity like an LLC. No other states require a business license to work for TaskRabbit.

Can an LLC work for TaskRabbit?

Yes. If you do run a business that’s registered as an LLC (or any other entity, including a partnership, you can sign up for TaskRabbit under your business.

Hiring on TaskRabbit

Here’s everything you need to know to make the most of hiring contractors through TaskRabbit.

What Kinds of Services Can You Pay for on TaskRabbit?

TaskRabbit connects you with any kind of help you need, as soon as the same day. To find what you’re looking for, just browse the task categories, and choose one to pull up Taskers who do that kind of work.

TaskRabbit offers a range of services across more than 35 categories, from virtual assistance to furniture assembly to cleaning to moving to yard work to… well, you get the picture.

If it needs to get done and you don’t want to do it, you can probably hire a Tasker to handle it for you.

Who Are You Hiring Through TaskRabbit?

You’re often letting Taskers into your home — maybe even while you’re not there — so you probably want some assurance that they’re legit. For this reason, TaskRabbit runs an identity check and criminal background check on all Taskers.

Also, Taskers tend to be folks from your local community, so you may already have some trust and rapport just from being in the same neighborhood.

Taskers create profiles that list the kinds of work they do and their experience and expertise. So you can make sure you’re hiring someone fit to do the job, especially for more complex tasks that require a very particular set of skills.

If you liked the service you got from a Tasker, you can rehire them through the app by adding them to your favorites or pursuing your completed tasks. Note that Taskers might not be available for all kinds of tasks, so you might not be able to rehire a previous Tasker who, say, delivered your groceries, to be your virtual assistant.

How to Hire a Tasker

You can hire a Tasker through the app for iOS or Android through this simple process:
1. Search the list of chores in the app. They span 35+ categories and include hundreds of tasks. Select the type of task you need completed.
2. TaskRabbit matches you with fitting service providers in your area, and you choose someone and put in the request, including details about the task and a date and time that fits the Tasker’s availability. You can schedule a task as soon as the same day or as much as 14 days in advance.
3. Once the Tasker accepts your request, you’ll manage the booking through the app, including communicating and payment.
Pro Tip

To use TaskRabbit to hire someone to do your odd jobs, download the client app: TaskRabbit: Handyman, Errands.

How Much Does TaskRabbit Cost?

When you book a task, you’ll pay a Tasker’s hourly rate (“Tasker Rate”) plus a service fee and a “Trust & Support Fee” paid to TaskRabbit, plus any reimbursements you agree to with the Tasker.

Taskers set their own hourly rates, and you’ll be able to see those in their profile before you put in your request. Rates should generally be commensurate with the work and competitive for the area, because that’s the best way for Taskers to get work.

Both the service fee and the Trust & Support Fee are billed as a percentage of the total Tasker Rate. TaskRabbit is a little opaque about the exact percentage, but some users have reported seeing fees as much as 35%. You’ll be notified of the fee percentage before you book, so keep an eye out for that detail to avoid surprise charges!

After you receive your invoice, you can also add a tip of any amount for the Tasker. They receive 100% of their hourly rate and tips; TaskRabbit doesn’t keep a cut.

Dana Sitar (@danasitar) has been writing and editing for online audiences since 2011, covering personal finance, careers and digital media. She is a former staffer at The Penny Hoarder. Her work has appeared in the New York Times, CNBC, The Motley Fool, Inc. and more. Freelancer Larissa Runkle contributed to this report.

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January 19, 2023

16 Best Debt Consolidations Loans of 2023

A debt consolidation loan is a path to relief for a lot of people struggling to manage credit cards and other high-interest debt.

Debt consolidation replaces your existing debts with a single loan, usually with more favorable terms, like a lower interest rate that’ll save you money, or a lower monthly payment and longer repayment period that gives you more breathing room.

These loans are a common part of savvy debt payoff strategies, because they can often help you save money, pay off debt faster or both. If you feel like you’re drowning in debt, they could extend the time it takes you to pay and take the stress off of keeping up with monthly payments.

Debt consolidation loans are available from lenders as personal loans, sometimes marketed specifically as “debt consolidation loans” and sometimes simply as personal loans.

We’ve reviewed some of the top personal loan lenders online to help you find the best debt consolidation loans available for your financial situation and goals.

Note: Loan terms accurate as of January 6, 2023 and subject to change. See lenders for most up-to-date information.

Best Debt Consolidation Loans at a Glance

Company	APR with Autopay	Min. and Max. Loan Amounts	Loan Terms
Universal Credit	11.69% – 35.93%	$1,000 – $50,000	36 to 60 months	SEE DETAILS
Happy Money	7.99% – 29.99%	$5,000 – $40,000	2 – 5 years	SEE DETAILS
LightStream	7.99% – 24.49%	$5,000 – $100,000	Up to 12 years	SEE DETAILS
Credible Personal Loans	5.40% – 35.99%	$600 – $100,000	2 – 7 years	SEE DETAILS
Upstart	6.5% – 35.99%	$1,000 – $50,000	3 or 5 years	SEE DETAILS
SoFi	7.99% – 23.43%	$5,000 – $100,000	3 – 7 years	SEE DETAILS
Figure	5.75% – 31.44%	$5,000 – $50,000	3 years	SEE DETAILS
Upgrade	7.96% – 35.97%	$1,000 – $50,000	24 – 84 months	SEE DETAILS
Rocket Loans	8.416% – 29.99%	$2,000 – $45,000	36 or 60 months	SEE DETAILS
Discover	6.99% – 24.99%	$2,500 – $35,000	36, 48, 60, 72 or 84 months	SEE DETAILS
Marcus	6.99% – 24.99%	$3,500 – $40,000	36 – 72 months	SEE DETAILS
LendingClub	6.34% – 35.89%	$1,000 – $250,000	6 or 144 months	SEE DETAILS
Prosper	6.99% – 35.99%	$2,000 – $50,000	2 or 5 years	SEE DETAILS
Avant	9.95% – 35.99%	$2,000 – $35,000	24 – 60 months	SEE DETAILS
LendingPoint	7.99% – 35.99%	$2,000 – $36,500	24 – 72 months	SEE DETAILS

Universal Credit

Best for Credit Scores below 600

Key Features

Funding within one day
Fixed interest rate
Rate discounts for debt pay off

Universal Credit is designed especially for debt consolidation and pay off. It offers rate discounts of between one and two percentage points — pretty significant! — for borrowers who use a Universal Credit personal loan to directly pay off credit card debt. Loans are available for borrowers with fair or bad credit.

Universal Credit

APR

11.69% – 35.93%

Loan amounts

$1,000 – $50,000

Minimum credit score

560

Happy Money

Best for Community-Based Lenders

Key Features

Designed for credit card payoff
Borrow from community-based lenders
Loans up to $40,000

Happy Money’s Payoff Loan is designed specially for credit card debt consolidation. The financial tech company works with community credit unions and mission-driven community banks to provide personal loans to pay off your debt directly. Choose the plan that works best for you, whether it’s a lower monthly payment, lower interest rate or earlier payoff date.

Happy Money

APR

7.99% – 29.99%

Loan amounts

$5,000 – $40,000

Minimum credit score

640

LightStream

Best for Good to Excellent Credit

Key Features

Same-day funding
No fees
Loans available for low credit scores

LightStream’s personal loans for borrowers with good or excellent credit can help you get hold of up to $100,000 as soon as the same day you’re approved. It also eschews fees and offers to beat the rate of any competitor — just submit information about a lower rate you’re offered elsewhere, and LightStream will offer you a rate 0.10 percentage points lower through its Rate Beat program.

LightStream

APR

7.99% – 23.99%

Loan amounts

$5,000 – $100,000

Minimum credit score

660

Credible

Best for Low Loan Amounts

Key Features

Compare rates from top lenders
Loans for poor credit available
Loan amounts as low as $600

Credible is a lending marketplace that can help you find debt consolidation loans as low as $600. You don’t have to worry about Credible selling your information like other comparison sites — it only gets paid when you accept a loan offer, so it won’t help lenders pester you. You can use the site to compare loan offers side by side and click through to the lender’s site to officially apply.

Credible

APR

5.40% – 35.99%

Loan amounts

$600 – $100,000

Minimum credit store

560

Upstart

Best for Non-Traditional Credit History

Key Features

AI-powered lending for partner banks
Considers more than your credit history
Loan amounts as low as $1,000

Upstart is technically a technology company, not a lender or a marketplace. Its platform uses proprietary AI to connect you with partner lenders, and you manage the loan entirely through the platform. Upstart uses more than a traditional credit score to assess your creditworthiness, so factors like your education and income could help you get a loan even if you have a low or no credit score.

Upstart

APR

6.5% – 35.99%

Loan amounts

$1,000 – $50,000

Minimum credit score

580

SoFi

Best for SoFi Customers

Key Features

No fees
Access to events and perks
Discounts for SoFi clients

SoFi is an online bank that offers financial services ranging from banking to student loans to investing. It offers debt consolidation loans with no fees, and you can apply and manage your account right from its convenient app. You can qualify for a discounted interest rate if you’re an existing SoFi member with a free SoFi bank account or other product in the app.

SoFi

APR

7.99% – 23.43%

Loan amounts

$5,000 – $100,000

Minimum credit score

600

Figure

Best for Crypto-Backed Loans

Key Features

Next-day funding
Powered by Provenance blockchain
0% to 5% origination fee

Figure is an innovative online lender that offers personal loans, with blockchain technology adding efficiency and transparency to its application and loan origination processes. It offers traditional and crypto-backed loans. Figure doesn’t offer direct debt payoff, but you can take out a personal loan up to $50,000 and use the funds to pay off your debts.

Figure

APR

5.75% – 31.44%

Loan amounts

$5,000 – $50,000

Minimum credit score

680

Upgrade

Best for Raising Credit Score

Key Features

Checking, credit and loans in one platform
No prepayment penalties
Next day funding

Upgrade is a financial tech platform designed to help you raise your credit score through checking, credit cards, credit monitoring and personal loans. It offers debt management and payoff in one platform, and you may qualify for a debt consolidation loan with a fair or bad credit score as low as 580.

Upgrade

APR

7.96% – 35.97%

Loan amounts

$1,000 – $50,000

Minimum Credit Score

580

Rocket Loans

Best for Transparent Process

Key Features

Same day funding
No prepayment penalties
All-online application

Rocket Loans lets you apply online for a debt consolidation personal loan in minutes. The online application starts with a transparent overview of the process, so you know what to expect at each step as you await your loan. You can verify your income and identity entirely online, so you don’t have to worry about phone calls or snail mail slowing down the process.

Rocket Loans

APR

8.416% – 29.99%

Loan amounts

$2,000 – $45,000

Minimum credit score

610

Discover

Best for Flexible Repayment Options

Key Features

No fees (except late fees)
Repayment assistance options
Free FICO credit score

Discover’s debt consolidation loans are fee-free and available to borrowers with a credit score as low as 660. Its repayment assistance options are robust compared to many competitors: If your financial situation changes, you could apply for payment deferral, a short-term shift to interest-only payments or extend your repayment period for lower monthly payments.

Discover

APR

6.99% – 24.99%

Loan amounts

$2,500 – $35,000

Minimum credit score

660

Marcus

Best for On-Time Payment Rewards

Key Features

No fees
Skip-a-payment reward for on-time repayment
Customize your monthly payment

Marcus is the personal banking arm of Goldman Sachs, offering individual savings, investing, credit cards and loans. Its personal loans are available to borrowers with good credit for up to $40,000, with no fees — not even late fees. And it rewards you for on-time payment: Make your monthly payment on time for 12 months in a row, and you can defer payment for a month with no additional interest accrued.

Marcus

APR

6.99% – 24.99%

Loan amounts

$3,500 – $40,000

Minimum credit score

660

LendingClub

Best for Bad Credit Loans

Key Features

Borrow up to $250,000
Funding within 48 hours
No prepayment penalty

LendingClub calls itself an “online marketplace bank.” It offers checking accounts and personal loans, including loans for debt consolidation, up to $250,000 for terms of three to five years. LendingClub can be a good option if you have a low credit score; loans may be available for lenders with scores as low as 600.

LendingClub

APR

5.99% – 35.89%

Loan amounts

$1,000 – $40,000

Minimum credit score

600

Prosper

Best for Peer-to-Peer Borrowing

Key Features

Peer-to-peer lending
Next-day funding
No prepayment penalty

Prosper is one of few peer-to-peer lending platforms left — individuals and financial institutions can invest in personal loans to support borrowers and earn a little bit of a return. You don’t have to deal with investors directly; Prosper manages the application and loan origination. Loans are available from $2,000 to $50,000 with a credit score as low as 600.

Prosper

APR

6.99% – 35.99%

Loan amounts

$2,000 – $50,000

Minimum credit score

600

Avant

Best for Fair Credit Loans

Key Features

Next-day funding
Minimum credit score 580
Not available in New York

Avant offers personal loans up to $35,000, with funding as soon as the next business day after approval. The lender’s minimum credit score is just 580; most borrowers have FICO scores between 600 and 700.

Avant

APR

9.95% – 35.99%

Loan amounts

$2,000 – $35,000

Miminum credit score

580

LendingPoint

Best for Fair Credit Borrowers

Key Features

Next-day funding
No co-sign loans
Not available in Nevada or West Virginia

LendingPoint assesses creditworthiness with a proprietary algorithm that looks beyond traditional FICO scores, so it’s able to lend to borrowers with scores as low as 600. LendingPoint loans are available in every state except Nevada and West Virginia.

LendingPoint

APR

7.99% – 35.99%

Loan amount

$2,000 – $36,500

Minimum credit score

600

How Does a Debt Consolidation Loan Work?

A debt consolidation loan is a type of personal loan you take out to pay off existing debts, and it’s most commonly used to pay off high-interest credit card debt.

The reason this is beneficial, even though you still have to repay the same amount of debt, is that personal loans come with much lower interest rates than most credit cards. You might have a few credit card balances accumulating interest at around 16% to 25%, while personal loans usually come with interest rates closer to 5% to 12%.

A “debt consolidation loan” is just a personal loan marketed specifically for debt payoff. They work exactly like personal loans on paper, except that many lenders send loan funds directly to creditors for you. If they don’t, you could still take out a personal loan and use the funds to pay off debts yourself.

To make a debt consolidation loan worth it, you should receive at least one of these benefits:

A lower interest rate (lower than the average of the debts you’re paying off).
A lower monthly payment than the total of what you pay now. This could come with a higher interest rate and/or longer repayment period, but it might be what you need for now to stay above water. You can always refinance in the future for a better rate.
Quicker payoff. A debt consolidation loan might come with a higher monthly payment, but if you can manage it, that could simplify your debt management, save you on interest and get you out of debt faster.
Longer repayment. If you’re consolidating or refinancing existing loans with short repayment terms, a new loan could extend the time you have to repay by lowering your monthly payment. You’ll likely pay more in interest this way, but it could ease your monthly commitments.

How to Choose a Debt Consolidation Loan

Before you commit to any debt consolidation option, shop around to see what lenders can offer you. Your available terms could vary quite a bit from lender to lender because of how they evaluate your credit history and what kind of borrowers they’re targeting.

Online lending marketplaces like Credible or Fiona make it easy to quickly see and compare pre-qualified offers from lenders side-by-side, so they could save you some time.

To choose the loan that fits your financial goals, consider these features:

Interest rate: If your main goal is to save money, look for a debt consolidation loan with an interest rate that’s lower than the average rate on your existing debts. Lenders typically offer lower interest rates with shorter repayment periods, so play with those factors to land on a rate that works for you.

Monthly payment: Primarily, you need a monthly payment you can pay comfortably every month, considering your existing commitments. If you’re overwhelmed by your current debt payment, refinancing or consolidating into a loan with a lower monthly payment could offer some relief. It’ll probably come with a later payoff date, which could mean you pay more in interest over time — but that lower bill could make the difference between paying on time or not.

Repayment term: This is the number of months or years to repay the loan. A longer term (or period) means lower monthly payments, but often comes with a higher interest rate and will mean more time for interest to accumulate. A shorter repayment term means a quicker payoff date, so if your goal is fast debt elimination, look for lenders that offer one- or two-year terms.

Fees: Many of the lenders we’ve listed charge no fees, but some still charge an origination fee, which lops off a small percentage of your loan up front. Some companies also charge late payment fees and a few companies even charge a prepayment penalty, which means you could pay extra if you pay off the loan early.

Debt Consolidation Loan Costs to Consider

Debt consolidation loans come with the typical costs included with any personal loan, including:

Interest: This is the extra you’ll repay on top of the amount you borrow. Debt consolidation loan rates could be as low as 3.5% or as high as 35.99%, depending mostly on your credit. Avoid loans with a higher interest rate than your existing debt unless consolidation feels like your only option to meet your financial goals.

Origination fees: A lot of lenders charge a fee up front just for making you the loan. It’s usually charged as a percentage of the loan amount, around 2% or 3%, and it’s deducted from the initial funds you receive. If your lender charges an origination fee, take that into account to make sure you get the funds you need to cover your debt balances.

Late fees: Some lenders charge a late fee if you make a payment past the monthly due date. The fee is typically a percentage of the payment due or a flat fee. Take note of these in your loan agreement if your financial situation changes and you’re unable to make payments on time. You might be able to avoid them by working with the lender to move your due date or ask for a deferment period.

Prepayment penalties: Few lenders of debt consolidation loans charge these anymore, but double-check before you sign an agreement. Prepayment penalties are fees you owe if you repay ahead of schedule — either paying your loan balance off early or getting too far ahead on your monthly payments.

Debt Management vs. Consolidation vs. Refinancing

As you seek options to tackle your debt, you’ll probably come across information and services for debt management, debt consolidation and debt refinancing. They all have similar aims, but they’re not the same things.

Debt management is a service offered by nonprofit organizations to get difficult debt under control. You work with a debt counselor to make arrangements with creditors, like adjusted repayment plans or reduced balances, and you make a single monthly payment to the organization, which pays creditors on your behalf.

Debt consolidation is a personal loan or balance transfer credit card that replaces existing debt. You use a debt consolidation loan to pay outstanding balances, so you only owe money to a single lender each month, ideally with a lower interest rate or lower monthly payment.

Debt refinancing is a way to take an existing loan and repackage it with different terms. Like consolidation, you basically replace one loan with another, but refinancing focuses on just one loan, rather than a plethora of debt accounts. You can often go back to your existing lender to ask for better terms — because, say, your credit has improved or the prime rate has gone down — or shop around for other offers.

Alternatives to Debt Consolidation Loans

Debt consolidation loans aren’t the only avenue for tackling your debt. Consider these other options and their effect on your credit score and financial goals before committing to a loan:

Balance transfer cards: These credit cards let you transfer the outstanding balance of an existing card or several, so you pay it off to the new creditor. It’s a way for a credit card company to entice you away from a competitor. Balance transfer cards usually offer an interest-free period of about a year. If you expect to be able to repay your credit card debt within that period, this is a great way to save on interest. If you don’t repay within that period, though, back interest usually comes due, and your balance could become less manageable than you expected.

Refinancing: If you have a single loan with unfavorable terms, you could return to the lender and ask to refinance. This could get you a lower interest rate or different monthly payment, depending on your financial situation and needs.

Debt forgiveness: A debt management plan usually comes with some amount of forgiven debt, which could offer a tremendous amount of relief. You might also be able to negotiate a reduced repayment amount on your own directly with your creditors. This kind of settlement usually shows up on your credit report as a negative mark.

Deferment: Check the terms of your existing debt to see if your lender offers deferment or other flexible repayment options. You may just need a month or two off of monthly payments or interest to get back on track, and that could save you the trouble of applying for a whole new loan.

What Is the Smartest Way to Consolidate Debt?

Two main options exist to consolidate credit card debt: a debt consolidation loan or a balance transfer card. Each has pros and cons, and which is best for you depends on your financial situation and goals.

A debt consolidation loan usually comes with a longer repayment period and a lower interest rate than a balance transfer card. The loan pays off your existing debts, and you just owe one monthly payment to the new lender. Ideally, you’ll lower your interest rate or monthly payment, depending on your goal.

A balance transfer card absorbs the balance of other credit cards and lets you continue to spend on the new balance. They often come with a year or so of no interest for the transferred balance, so this could be a strategic way to save money if you’re paying off debt fast. Back interest usually comes due at the end of the introductory period, though, so this becomes a costly option if you don’t pay your debt down fast.

A debt consolidation loan is probably a better option in most cases, because it sets you up for slower, steady debt payoff at a monthly payment you can manage and an interest rate that hopefully saves you money.

A balance transfer card is a smart strategy if you’re focused on quick debt payoff and are pretty certain you’ll eliminate your balance within the next 12 months. It can, however, be a risky move if you don’t have that solid plan in place to prioritize debt payoff for the near future.

How Does Debt Consolidation Affect Your Credit Score?

Debt consolidation could lower your credit utilization and create a positive line on your credit report, which could improve your credit score over time.

Here’s how it works:

Credit utilization: Paying off your credit card debt — even if you take on a loan to do it — lowers the amount of your available credit you’re using, called your credit utilization. Lower utilization is better for your credit score.

Credit report: Making your loan payments on time or ahead of time throughout the life of the loan creates a positive line on your credit report, which can help to balance any negative marks you’ve accumulated with unpaid credit card debt.

Debt consolidation could also impact your credit score negatively in these ways:

New credit inquiry: When you apply for a loan, the lender does a hard credit inquiry, which shows up on your credit report as a request for credit. Your credit score will probably take a temporary dip because of that, but that effect doesn’t tend to last beyond a few months.

Payment history: Paying your loan on time will be good for your credit score — but if you don’t make payments on time or you default on the debt consolidation loan, it’ll hang out on your credit report for about seven years and hurt your score.

How to Protect Your Credit When You Consolidate Debt

Debt consolidation can be a smart strategy as part of a plan to pay off your debt and improve your credit score. Replacing high-interest balances with a lower-interest loan is a smart step toward eliminating debt, which is good for your credit score.

But be careful not to make these common mistakes when you consolidate debt — they could end up hurting your credit score:

Don’t close your paid accounts. Leave your credit card accounts open even after you pay off the balances. If you want to avoid using the cards again, cut up the physical cards, remove the virtual cards from your digital wallet and erase the card numbers from your browser. Keeping old accounts open ensures you have mature accounts in your credit history, and the unused balances help reduce your credit utilization.

Don’t skip monthly payments. Plan ahead to take out a loan with monthly payments you expect to be able to absorb. If you’re coming up on a monthly payment you won’t make on time, contact the lender ASAP to negotiate a different due date, deferment or other flexible repayment option. Missing monthly payments dings your credit report and will certainly lower your score, in addition to racking you up more debt in fees and interest.

Don’t add more credit card debt. If you can avoid it, don’t use credit cards while you repay your debt consolidation loan. Or use them with careful intention, and repay your purchases frequently (like, daily) to avoid carrying a new balance. This lets you concentrate on paying off just the one debt, so you can work toward financial relief.

Keep on Refinancing

You don’t have to stop after one debt consolidation loan.

After you’ve made on-time payments for a year or so, check your options again to see if you could refinance to even more favorable terms. Your positive payment history and reduced credit card debt can very likely improve your credit score and expand your options for better loans.

Knowing this is an option down the road could give you some relief now, too: You may need to take out a high-interest loan with a long repayment term because you have bad credit now. Consolidating your debt this way might be your best path to getting out from under a mountain of stressful and confusing debt. But you don’t have to stick with those terms forever.

As your credit score improves and your debt balance goes down, consider refinancing the loan in the future to get better terms that’ll save you money and help you reach your goals even faster.

Frequently Asked Questions (FAQs) About Debt Consolidation Loans

We’ve rounded up answers to some of the most commonly asked questions about debt consolidation loans.

What Credit Score Do You Need for a Consolidation Loan?

Plenty of lenders make loans available for borrowers with bad or fair credit scores in the high 500s to mid 600s. Just watch out for the interest rate. It doesn’t usually help you to replace your existing debt with a loan with a higher interest rate. And a monthly payment you can’t pay won’t improve your situation, either.

The higher your credit score, the better odds you’ll always have for landing a loan and getting favorable terms. But you don’t necessarily need a good or excellent credit score to get a debt consolidation loan.

Does Consolidation Affect Credit Score?

Your credit score can be hurt temporarily by a debt consolidation loan. It can also hurt your credit utilization score. However, meeting the payment deadline on the consolidation loan will help your score over time.

Do Debt Consolidation Loans Typically Work?

Debt consolidation loans are most helpful for people with credit card debt. The consolidation loans often have a lower interest rate than credit cards which means more of your money is going to pay down the loan amount. They also work if you meet the payment deadline.

Contributor Dana Miranda is a Certified Educator in Personal Finance® who has written about work and money for publications including Forbes, The New York Times, CNBC, Insider, NextAdvisor and Inc. Magazine. Freelancer Veronica Matthews contributed to this post.

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January 19, 2023

Single? This Jeweler Will Pay You $1,500 to Go on 15 First Dates

Want to turn your Tinder swipes into debit swipes? Shane Co., a family-owned jeweler, is offering one lucky lovebird the opportunity to earn $1,500 just for going on 15 first dates.

Of course, if you’re selected, you’ll have to do more than just go on the dates. You’ll also have to document the dates via photos and recaps for Shane Co., meaning your love connection (or dating disaster) could end up as fodder for a future marketing campaign for the jeweler.

$1,500 for 15 First Dates: How Does It Work?

Shane Co. is currently accepting applications for the gig. You have until just before Valentine’s Day — Feb. 10, 2023 — to sign up. The winner will be announced Feb. 27, 2023.

But the contest isn’t open to just anyone. You’ve got to be a U.S. citizen, 18 years or older and, most importantly, single and ready to mingle. Shane Co. makes this very clear: “Cheaters never win, and winners never cheat.”

If you’re willing to document your love life — and are OK with averaging three first dates a month for five months — you can fill out the application on Shane Co’s website.

Be prepared: They’ll ask about more than just your name and age. Shane Co. wants to know why you think you’re right for the role and what your ideal first date would be.

If You’re Selected by Shane Co.

The winning applicant will have five months to go on 15 first dates. On each date, the winner will have to snap a pic and then fill out a short worksheet about how the date went. (Think of it as writing in your diary after a date, except the whole world can read it.)

Every date has to be with a different person, and you can meet them however you want — online, as a blind date, at a bar or even, as Shane Co. suggests, at a bullfighting competition. You know, where love abounds.

Technically, the first dates don’t have to be with strangers, so you could call up an old classmate or have an awkward conversation with a coworker if you’re struggling to hit 15.

Before getting too excited about the prospect of a $1,500 reward, don’t forget about the cost of dating. Last year, Zoosk found that the average date costs $97. After 15 of them, you’ll have spent — wait for it — around 1,500 bucks.

Happy swiping!

Contributor Timothy Moore is a writer and editor in Cincinnati who covers banks, loans, insurance, travel and automotive topics for The Penny Hoarder.

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January 18, 2023
How Buying in Bulk Can Save You Money Right Now

We’re all feeling the squeeze of the current economic outlook with inflation driving up consumer costs at a 7.1% increase in the past year, according to the U.S. Bureau of Labor Statistics.

And food prices are no exception with a 12% increase over the past 12 months.

The Harris Poll, in partnership with Alpha Foods, recently found that 90% of Americans are worried about the rising cost of groceries.

As prices rise, how will you save money on necessities like food, household, beauty, self-care and pet products? One option is to buy what you truly need and use in bulk. About one-third of us are already buying in bulk for convenience and saving money.

Buying in bulk isn’t just for minivan-driving families with walk-in pantries. Done right, buying in bulk can help reduce spending, even if you’re a household of one.

We’ve got the tips you need to score high-volume essentials while avoiding the potential pitfalls of buying in bulk.

The Benefits of Buying in Bulk

Despite the higher cost at the register, buying bulk products can help you save money when what you purchase is less expensive per unit than at regular retail stores.

Let’s say a single apple costs 75 cents at the grocery store. A 3-pound bag containing six apples costs $3. Purchasing the apples in bulk means you’d be paying 50 cents for each rather than 75 cents.

In addition to a lower cost per unit, there are other benefits of buying in bulk. Since you’re stocking up on more in one shopping trip, you don’t have to go out to the store as frequently. That means less gas spent driving to the store and fewer opportunities to give in to impulse purchases. You’ll also have more of your free time back.

There’s an additional environmental benefit if your bulk purchases involve less packaging. Also, having more in stock at home means you’re not in dire straits when an emergency hits — whether that’s a bad storm that prevents you from going to the store or a sickness that leaves you unable to get out of bed.

Just be careful: It’s easy to justify big bulk purchases in the moment only to have giant jars of olives gather dust in the pantry. And when buying in bulk, make sure what you purchase won’t go to waste. Stick with products that have a good shelf life that you like and use on a regular basis.

What Should You Buy in Bulk

Smart bulk buys include shelf-stable food like pasta, rice, cereal and dried beans and nonperishable items like canned food, oils, flour and sugar. Household items like paper towels, toilet paper, batteries, school and office supplies and laundry detergent are also good bulk purchases.

Other savvy bulk purchases are self-care and beauty products like toothpaste, deodorant, soap and diapers. Don’t forget pet food and pet products!

Here are several items that can save you money when purchased in bulk.

Food and Beverages

Cereal

Oatmeal

Canned vegetables and fruit

Soup

Rice and grains

Pasta

Pasta sauce

Beans (canned and dried)

Frozen food (veggies, fruit, meat, prepared foods)

Crackers

Cookies

Chips

Pretzels

Nuts

Gum and mints

Sugar

Honey

Flour

Vanilla and other extracts

Coffee

Tea

Bottled water

Juice

Soda

Household Products

Toilet paper

Paper towels

Napkins

Paper plates and bowls

Plastic flatware

Coffee filters

Laundry detergent

Cleaning supplies

Air freshener

Sponges

Dish detergent

Trash bags

Lightbulbs

Foil

Plastic wrap

Parchment paper

Plastic storage bags

Batteries

Tape

Beauty and Self-Care Products

Soap

Shampoo

Conditioner

Shaving cream

Lotion

Toothpaste

Toothbrushes

Floss

Cotton balls, rounds or swabs

Vitamins

Over-the-counter allergy medicine

Bandages

Rubbing alcohol

Antibacterial wipes

Supplies for Babies

Baby food and snacks

Baby formula

Baby wipes

Diapers

Pet Products

Pet food

Dog waste bags

Kitty litter

How to Know When Buying in Bulk is a Good Deal

With a few easy steps, you can check prices to find out if buying a product in bulk will save you money.

First, find the total price of the item. Second, check the price per unit. Units could be ounces, pounds, liters, etc. Most of the time, you can find the cost per unit right on the price label. It’s typically off to the side and in a smaller font.

Next, divide the total price by the price per unit. Or, if you’re like us and calculating math problems while standing in a store isn’t your thing, let technology do the work for you with apps like Unit Price Comparison and CompareMe Price Comparison.

What Not to Buy in Bulk

Shy away from buying in bulk any item that will go bad before you have the chance to use it all, such as fresh produce, meat, eggs, milk, cheese, condiments and spices. However, if you’re going to freeze meat, can fresh veggies or make multiple casserole dishes for an upcoming dinner party, buying those items in bulk might work for you.

Look at the expiration dates on non-food items, too. For example, fabric softener and teeth whitening strips may lose their effectiveness after a year.

Think about how long it’ll take your household to use what you buy before investing in a large quantity of it.

Places to Shop for Bulk Buying

Warehouse stores — like Costco, Sam’s Club and BJ’s Wholesale — are likely the first places that come to mind when you think about buying in bulk. These types of stores typically require a membership to be able to shop.

Membership costs at those three warehouse chains range from $50 to $120 annually. If you shopped there only once a month, you’d be paying an extra $4.17 to $10 each trip, but hopefully your savings would surpass that amount.

While warehouse stores have more options for bulk buying, don’t overlook the opportunities available at your regular grocery store. Look at the cost per unit of that family-size package of cookies or that economy-sized bottle of laundry detergent. Pay attention to merchandise located on the bottom or top shelves. Bulk packages aren’t always found where you normally look.

If you prefer shopping online, Amazon and Boxed are good options for bulk buying. To save on these transactions, make sure your total is over the minimum threshold for free shipping.

How to Avoid the Pitfalls of Buying in Bulk

Though buying in bulk can be a good way to stretch your money, that’s not to say it doesn’t come with its share of disadvantages. Here are five tips to help you get the most out of bulk buying while avoiding potential drawbacks.

1. Careful With the Credit Card

Buying in bulk means you have to have more money upfront, which can be tough if your budget is tight. Don’t feel tempted to charge purchases on a credit card, because you’ll rack up interest if you’re not able to pay it off right away.

2. Pace Yourself and Plan Ahead

Start small by choosing one or two things your household uses often and buying those in bulk rather than converting your entire grocery list to bulk buys. Take advantage of coupons, sales and other special deals to reduce your costs.

3. Share the Cost

Splitting a bulk purchase with a friend or family member is another way to lower that upfront cost. This tactic is also helpful if you are concerned about consuming something before it goes bad or if you lack adequate storage space.

4. Consider Storage

It’s important to think about where you’ll store your haul. Before you go out and purchase an additional freezer or shelving system to store your extra goods, think about unconventional storage, like unused closet space or an area in your garage for the stuff that doesn’t need to stay a certain temperature.

5. Exercise Restraint

Don’t be tempted to use up what you have just because it’s there. For example, if you had only two paper towel rolls at home, you’d probably be more conservative with each sheet than if you had 12 in stock. Stick to how you’d normally use the item and don’t overindulge.

Contributor Veronica Leone Matthews is a North Carolina-based freelance writer with 11 years of experience writing for nonprofits and higher education. She covers lifestyle topics for The Penny Hoarder.

Former senior writer Nicole Dow contributed. Assigning Editor Karen Grigsby updated this post.

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January 17, 2023
19 Checkups to Give Your House Now to Avoid a Shocking Repair Bill Later

Owning a home is much more than just making a mortgage payment. Just like you do for your car, you must maintain a home to keep things running smoothly.

Some home maintenance tasks are easy to do on your own, but a few things require the expertise of a professional.

That means you will need to have a plan to pay for home maintenance projects. Keep in mind, too, that maintenance is usually cheaper than repairs and replacements. It’s a good idea to put away $200 a month for routine maintenance but be prepared for something bigger every few years — like having the house painted.

“It is very important to maintain the value of your property. To me, routine maintenance is relatively inexpensive but the damage caused by lack of it can be very expensive,” said home inspector John Wanninger. He and his INSPECTIX team in Nebraska have inspected more than 30,000 homes.

Wanninger suggests several home maintenance projects you should do periodically.

Not every expert agrees on the frequency of some of these tasks, and where you live and its climate also make a difference.

Home Maintenance Priorities

Keep your eyes on these four areas of maintenance and your home should be in good shape:

Preventing Moisture Problems

We need water to live, but it can also be a major enemy when it shows up in places it shouldn’t. Any issues with water should be addressed as soon as possible.

Data from Travelers Insurance says 19% of insurance claims from homeowners during the winter months are for weather-related water damage.

1. Check Your Gutters

A home’s gutter system is designed to move water from the roof to the ground without making any stops in between.

Wanninger suggests at least once a year, before your area’s rainy or snowy seasons, checking your gutters and drainpipes to make sure water is flowing freely and there are no blockages.

Remove any leaves or debris that is inhibiting the flow.

Once it’s cold, if you see icicles coming from the roof or gutters, your gutters might be backed up.

Do not do this task alone. Make sure someone is spotting you on the ladder.

If you choose to hire someone, HomeGuide says the average cost of gutter cleaning is $150.

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2. Clear the Snow

If there’s snow already on your roof from one storm, clear it before more snow falls. The additional weight could cause problems.

A roof rake can help you pull the snow down while you’re still safe on the ground.
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3. Is the Sump Pump Working?

In the midst of a rainstorm is a bad time to find out your basement sump pump isn’t working.

“You should test your sump pump every month, especially during the wet seasons, to make sure that the pump is activating and the float is working,” Wanninger said.

To check the sump pump, make sure it is switched on, pour some water into the pit area to make sure it starts properly. Don’t forget to check the system’s backup battery also.
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4. Water Heater Warnings

Many experts say it’s important to drain your tank water heater annually to remove sediment that may have settled in the bottom. Usually this is done with a long hose from the spigot to a sink or shower drain or an outdoor area.

Wanninger has a warning about this.

“You have to start it from the time that it’s new and that will keep rust and corrosion that would normally build up in the bottom of your water heater from occurring,” he said.

Draining a water heater for the first time two years, more or less, after you’ve installed it could result in trouble. The rust and debris that has built up could clog the water heater’s spigot and prevent you from closing it. This could cause a permanent leak or, worse, a flood in your home from the water in the tank.
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5. Check for Bathroom Leaks

To make sure everything is OK in each bathroom, periodically flush toilets and run water through faucets and drains you don’t use often.

Check for any leaks around toilets and under sinks and that they don’t wobble.

Make sure caulk and grout are still intact in bathtubs, showers and behind the sinks.

“It prevents water from getting behind the wall and if water sits there, it will deteriorate out the wall and eventually cause a very expensive repair,” Wanninger warned.
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6. Get Septic Tank Inspection

A professional should inspect your septic tank at least every three years and pump it out every three to five years, according to the Environmental Protection Agency.

Unfortunately, this is something many people don’t do, which could lead to the system not working properly or backing up.

If your system has electrical float switches, pumps, or mechanical components, someone should inspect it annually.

Cleaning and pumping a septic tank costs between $250 and $895, with most people spending about $375, according to HomeGuide.
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7. Check Irrigation Systems

When working properly, lawn irrigation systems keep grass and plants lush and beautiful.

Malfunctioning systems can cause lots of problems besides just a dry lawn.

Wanninger suggested an annual check to make sure sprinkler heads are working properly and watering where they are supposed to. He said many homes he inspects have sprinklers hitting the house which can cause rotting and other damage.

Broken or leaking heads can cause high water bills because the water has to go somewhere if the heads are not coming out of the ground.

HomeGuide says replacing a sprinkler head costs between $65-$90 for a professional and about $2-$12 if you do it yourself.
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Maintaining Appliances and Equipment

We spend a lot on HVAC systems, washing machines and dryers. Periodic maintenance can help keep these items running well.

Damir Sisic, a service technician with Dunedin Refrigeration, services an HVAC on April 28, 2021. Chris Zuppa/The Penny Hoarder

8. Do Annual HVAC Maintenance

We rely on our heating, ventilation, and air conditioning system to keep us cool in the summer and warm in the winter.

It’s important to change the air filters monthly and have a routine service call to check to make sure everything is working properly.

An annual maintenance call costs about $150.

Make sure there is a clear area around your outside compressor and that there are no leaves or debris inside the unit.
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9. Keep Laundry Room in Working Order

In the laundry room, check the connections between the water source and the washing machine to make sure they are tight.

Wanninger said he sees lots of floor and wall damage because of loose connections.

After every few loads in the dryer, make sure to clean the lint filter.

Also, every year or so (more if you do a lot of laundry) it’s a good idea to hire a professional to clean the dryer vent.

A clogged dryer vent can keep your dryer from working properly and could even cause a fire.

A professional dryer vent cleaning with either a vacuum, brush, or a combination of both costs about an average of $150, according to Fixr.
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Kitchen Upkeep

Your kitchen appliances can use a little TLC every now and then. Making sure they are in tip-top shape will keep them working for years and ensure you get your money out of them.

10. Replace Water Filters

If you have a water or ice dispenser, you probably have a filter that removes impurities to keep your water and ice tasting good. Your owner’s manual will tell you how often to replace them, but usually it is about every six months. New filters can cost around $50.
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11. Vacuum the Refrigerator Coil

The coils of your refrigerator can get dirty, which could cause your refrigerator to need more electricity to keep it running. Vacuuming them periodically can help keep them clean.
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12. Clean Range Hood Filter

And the same for over-the-range microwave. A grease buildup on these can keep the fan from working property or can leave a film on appliances and walls.
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13. Don’t Get Shocked

Make sure your ground fault interrupters work properly. GFIs protect you from getting an electrical shock, especially when an electrical outlet is close to a water source. Check all outlets and switches throughout the house.
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Routine Exterior Maintenance

While it’s important to pay attention to many things inside your house, don’t ignore the outside. Several things on the exterior also require maintenance, and make sure you’ve set something aside in your budget for home maintenance. Paint alone could put a $5,000 ding in the budget.

14. Keep Dirt Away

Water should drain away from the house, not toward it. This will help prevent water damage.

“The dirt around your house is referred to as backfill. When that house was built, the dirt was disturbed from its original condition,” Wanninger said. “So when you dig a foundation and backfill it, that dirt still will continue to settle for many, many years.”

He tells his clients to monitor the dirt around the house and if they notice any pooling or an area that is flat, they should build up the grade so the water drains away from the structure.
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15. Check on Paint and Siding

Paint does more than make your house look good. It also acts like a skin and protects the house from damage.

“The wood that we put on homes today is not weather resistant like the lumber we used to use,” Wanninger said. “That material left unpainted will deteriorate very quickly so sealing and painting the exterior of the home is extremely important. Painting a home is probably about an every five year project.”

Repainting the exterior of a house is between $1,900 and $6,900, according to HomeGuide.

Also, periodically check siding to make sure there are no cracks or soft spots that might indicate moisture got under the siding. Water damage is one of the common repair costs.
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16. Maintain Exterior Caulk

If there is no caulking around siding or window trim, look out. The lack of sealer can cause significant moisture damage to the siding and to the house structure, Wanninger warned.

Caulking is more for areas that are stationary while weatherstripping seals air gaps around windows and doors that move. There are a wide range of weatherstripping materials available that range in price and you might need a variety to sufficiently seal everything.

Wanninger suggested annually inspecting and caulking around windows, doors, chimneys, and anything else that penetrates the exterior of the home. If you aren’t up to the job yourself, hire a professional window maintenance company. Depending on the size of the job, it could cost about $500.
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17. Inspect Fireplace and Chimney

Speaking of chimneys, if you have a fireplace, make sure you annually inspect the flue and chimney. A blockage could cause dangerous gasses to go back into your home or start a fire.

The average cost of a chimney cleaning is between $149 and $340 depending the type of fireplace, HomeGuide says. An inspection is often included in the cleaning cost and is between $100 and $250 if it is not part of the cleaning service.
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18. Check Roof and Support Structure

Make sure there are no dips, wear, or other signs of weakness on the roof. If you notice something, have a roofing professional take a look. It’s much better to prevent a leak than repair one.
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19. Service Garage Door

Electric garage doors are a great convenience and can last for many years.

Many garage door companies say it is important to service your electric garage door at least once a year.

Garage door maintenance often includes:

Lubricating moving parts of the door.

Tightening bolts and screws.

Adjusting the tension of the spring.

Inspecting and replacing weather stripping.

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Know These Things

No matter what you do to maintain your home, there are a few things every person should know about where they live.

The location of the electrical fuse/breaker box.

The location of the main water shutoff.

How to shut off water to toilets, sick faucets, or washing machines.

The location of the main shutoff for heating fuel.

Wanninger said a mistake many people make is thinking because their home is new or new to them, it does not need maintenance.

“As we do inspections, we educate our clients about this maintenance right away when you move in and then you get it on a routine schedule.”

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How Much Money Do You Need to Budget for Home Repairs

Mary Bell Carlson, certified financial planner and accredited financial counselor, bought a new house and found out firsthand about the importance of home maintenance.

She advised her clients to start what she calls a life fund.

“It’s not your emergency fund because your emergency fund is for when something catastrophic happens. This is if something in the house breaks and we have to replace it. It’s for that ongoing maintenance piece that you constantly have to be feeding,” she said.

The relatively small fees for professional home maintenance or even for supplies to do it yourself add up. A $100 here, $95 there, and $150 the next month can add up to a few thousand dollars a year.

Carlson suggested having a home maintenance fund and putting a few dollars into it each month to pay for the types of maintenance Wanninger and others suggest.

“If you put $200 a month aside and you don’t have any home maintenance things that month, at the end of the year you’ve got $2,400 and you can kind of debit that as things come up,” she said. “You have somewhere to pull from that isn’t taking away from your monthly spending nor jeopardizing your other savings goals.”

Remember, as materials become more expensive, some preventive maintenance prices are also going up.

Accepting Maintenance Costs

The key is to try to prevent a problem and that’s why it’s worth paying the maintenance costs.

“Look around your house for issues. Don’t wait for an issue to become known. Go find it before it becomes a big issue. Inspect your own property,” Wanninger said.

Even though some of these chores don’t require special training or equipment, if you are not comfortable doing any of them, hiring a local handyperson might be a good idea.

For more about budgeting for home improvements, check out Here’s How to Budget for Home Improvements, Rather Than Rack Up More Debt.

Tiffani Sherman is a Florida-based freelance reporter with more than 25 years of experience writing about finance, health, travel and other topics.

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January 17, 2023
So You Want to Be a Writer: 10 Free Tools to Get You Started

Whether it’s a calling, a passion, a way to make money — or some combination of all three, writing is a pretty rewarding way to spend your time, not that I’m biased.

But before you set out for your favorite cafe with a typewriter and a funky hat (neither of which are an actual requirement of the profession), hear this. There are several online tools that can help you get your career as a wordsmith off the ground — without spending a dime.

In this list, I’ve included 10 of my absolute favorite (and completely free) writing tools currently on the market. Whether you’re looking for a distraction-free writing platform, a way to save your ideas on-the-go, or a keen editing buddy — these freebies have something for every writer. Keep scrolling to find your new favorite free writing tool.

10 Online Tools for Writers

For new writers and old pros alike, here are 10 free online tools to help.

1. Google Docs

It isn’t glamorous, but it is free, and it certainly does get the job done. With plenty of free storage and endless ways to organize your work into folders, Google Docs is a must-have for any serious writer. Plus, it’s easy share documents with other writers and editors for seamless collaboration.

You can access Google Docs simply by signing in (or signing up) for a Gmail Account. From there, you can create new documents and folders, spreadsheets (which can be super helpful for tracking your taxable income), and so much more.

2. FocusWriter

Another great free tool for easily-distracted writers, FocusWriter answers the call with that perfect blank-page look, and no fussy settings or additional controls to get in the way.

Customize your background theme, set a timer or alarm and then get to work. Since this application is available via download rather than in a web browser, you’ll need to have one of its supported devices. Fortunately, FocusWriter is available on Windows, Mac OS, and Linux.

3. Sprinter

It doesn’t get any simpler than Sprinter, a one-window online writing platform that allows you to set a timer (or not) and just “free-write.” (Pun intended. The company is also behind Freewrite — a line of smart typewriters which will satisfy any writer’s aforementioned hipster-cafe fantasies).

Drafts can be saved and accessed through the company’s online platform, or copied and pasted into any word processor. Besides the timer and old school typeface (which is especially satisfying for some reason), this free platform also includes a real-time word count and “read-time” to help you determine the length of your current draft.

4. Medium

If you’re a new writer just looking to dip your big toe in and make a name for yourself, you might want to try using Medium. This blogging website offers a clean, distraction-free experience and allows you to get your writing in front of more people a lot faster than you would by starting your own blog.

You can write and publish your work for free, and even submit it to publications within Medium (to get more eyes on your writing). Whenever I meet a new writer looking to get out there, I always recommend submitting to these publications. Not only do they make impressive samples to show would-be clients, but they also teach you a bit about how to cater your writing for certain audiences and platforms— an important skill if you want to get paid to write.

5. Milanote

If you’re a highly visual kind of writer looking for an organizational tool more than a writing interface, then you might want to try Milanote. It offers a great way to compile all your images, notes, and anything else into one easy-to-use visual board.

Once you try Milanote, it’s easy to see how it would be helpful for larger projects like longer essays or books where you have lots of ideas and notes to keep track of. It’s also a useful brainstorming tool if you like making mood boards for your writing work.

Although Milanote has an unlimited paid version for $9.99 per month, there’s also a free version which includes 10 file uploads, unlimited shared boards with other users and 100 notes, images, or links.

6. Evernote

Although it’s not strictly a tool for writers, Evernote is a great application to know about. Similar to Milanote (but less mood-board-ish and more about note-taking), Evernote allows you to organize all of your notes and ideas in one place. I especially like Evernote for the way it syncs seamlessly across all devices.

Use it to make notes on the go, then open up the application on your laptop and dive back in, right where you left off. You can use the basic version of Evernote for free, or get a few more perks by paying $7.99 per month.

7. Hemingway Editor

If you’re looking for a free way to edit your work before submitting it to an editor, The Hemingway App is a great way to go. This free online tool allows you to paste your completed article or essay and get instant feedback on grammar, formatting, and even readability.

I especially like it for this last point, since the app stresses the use of simple language, short sentences, and active voice, all of which help improve your writing and make your editor’s life easier.

8. Grammarly

For writers in need of a bit of extra help with grammar, you might want to try Grammarly, which can be downloaded onto your device or used in the form of a browser extension. This free tool provides instant feedback on grammar as well as clarity, word variety and tone.

Some editors even require their freelance writers to use Grammarly when starting out, so if you’re not feeling 100% in your ability to draft up grammatically correct prose, this is a great place to start.

9. yWriter

For longer bodies of work like novels and other books, this free downloadable word processor may prove to be an invaluable resource. Combining a clean, distraction-free interface with loads of great organization tools — like the ability to break your work into scenes or chapters and find them again later — makes yWriter one of the best free writing tools on the market.

The best part about yWriter is that it was created by an author for authors. Offering some of the same functionality as paid tools like Scrivener, yWriter is a great one to get once your work starts reaching lengths in the thousands of words and organization becomes imperative.

10. Reedsy Book Editor

For the writer who already has a large body of work and is looking to edit it, consider trying Reedsy Book Editor. This platform offers more than just editing. It also has a huge network of freelance editors, designers, and publicists available to help you bring your manuscript up to speed, whether you’re sending it off to a literary agent or self-publishing.

While you will have to pay for advanced services, you can access the free formatting tools on their website, which allow you to format your manuscript as an epub or PDF, something you’ll need to do before publishing no matter how you choose to do it.

Beyond these tools, the company also provides a variety of free online mini-courses for writers including a self-publishing course, a marketing course for published writers, and a course to help jumpstart your novel.

The Final Word

Writing isn’t easy, but when it comes to everything else — editing, formatting, and even publishing — there’s a free tool that can help. The best part about getting comfortable using these online tools is that you’ll actually become better at your craft by using them.

Platforms like Medium and Reedsy can help you better understand what it takes to get published, while Draft and FocusWriter may help boost your daily word count. Once you get in a groove, you may find you need these tools less and less, which is one clear way to measure your growth as a new writer.

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.

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January 17, 2023
LendingClub Bank Review 2023: Checking and Savings Accounts

LendingClub is one of the more interesting online banks we’ve reviewed lately. First up — it is an online bank, which means no physical branches, though that’s not necessarily unusual anymore. What makes LendingClub Bank unique is that it’s the first proper mix of fintech and online banking.

LendingClub Bank actually started life as Radius Bank in 1987 and transitioned to online-only banking in 2012, closing its brick-and-mortar locations. LendingClub is also a fintech — financial technology — company that offers personal loans online. In 2020, LendingClub acquired Radius and renamed it LendingClub Bank. This acquisition marked the first time a fintech company had purchased a U.S. bank, and the promise was that LendingClub Bank would be able to offer the best of both worlds.

Today, LendingClub Bank offers an array of competitive online banking accounts and services, including a very compelling checking account option.

Is LendingClub Bank right for you? Read on to find out.

LendingClub Bank Checking Accounts

LendingClub offers one of our favorite checking accounts right now: Rewards Checking. Unfortunately, if you don’t qualify for it, you don’t have many other options.

LendingClub Rewards Checking

Best for Earning Cash Back

Key Features

No monthly fees or ATM fees

Ability to earn interest on checking account

1.00% cash back on debit card purchases

The LendingClub Bank Rewards Checking account is a unique checking account that enables you to earn both interest and cash back on purchases — provided you meet certain balance requirements.

LendingClub Rewards Checking

APY

0.10% APY on balances between $2,500 and $99,999.99 and 0.15% APY on balances $100,000 and up.

Monthly fees

None

ATM access

37,000 ATMs with no charges

Minimum starting balance

$25

More Information About LendingClub Checking

The LendingClub Bank Rewards Checking account offers account holders a fee-free checking experience with a $25 minimum starting balance and no monthly minimum balance requirement. The account earns a reasonable interest rate of between 0.10% and 0.15% (depending on balance), which is a nice bonus that many checking accounts don’t offer.

Even more interesting is the cash back available on this account — as long as you maintain an average balance of $2,500 or more each month, or receive at least that much in direct deposits each month, you can earn 1.00% cash back on your debit card purchases. While maintaining a $2,500 average balance may be a stretch for some, the direct deposit criteria is much more achievable and makes this a compelling checking account option.

LendingClub Bank Savings Accounts

LendingClub Bank’s single savings account option offers a very competitive interest rate, provided you meet the minimum balance requirement of $2,500. Below that, it’s less interesting.

LendingClub High-Yield Savings

Best for Fee-Free Savings

Key Features

Up to 3.60% APY

No-fee ATM access

Low-starting balance

The LendingClub High-Yield Savings account combines an extremely competitive interest rate with no monthly fee and a low starting balance. The result is a savings account that’s really hard to fault.

LendingClub High-Yield Savings

APY

3.60% APY on all balances

Monthly fees

None

ATM access

37,000 ATMs with no charges

Minimum starting balance

$100

More Information About LendingClub Savings

The LendingClub High-Yield Savings account is frankly fantastic. The balance does not matter, you will earn an excellent 3.60% APY, and you only need a minimum deposit of $100 to get started. On top of that, you get a free ATM card with no fees, so your funds are easily accessible.

Previously, the only real issue we spotted was that accounts with balances below $2,500 earned a much lower interest rate. That has since changed, with LendingClub’s High-Yield Savings Account now providing the same interest rate no matter the balance. That said, the more money you have saved, the more interest you earn, so here’s some smart savings strategies that will help you get that balance up in no time.

Other LendingClub Bank Offerings

LendingClub’s other offerings are fairly standard. There’s a CD option with a wide range of term lengths, as well as the expected array of personal loans. Most interesting are the personal finance options available through partnerships with other institutions.

Certificates of Deposit (CDs)

LendingClub Bank offers an array of CDs for longer-term investments. Terms run the gamut from 6 months to five years and offer interest rates of between 3.25% to 4.10% APY depending on the term.

LendingClub CD Account

Best for Medium-Term Savings

Key Features

Moderate minimum balance

Great interest rates

Choice of term lengths

The LendingClub CDs all offer different interest rates, depending on the term.The balance does not affect the rates as well, however the different CD accounts require a moderate minimum deposit amount of $2,500 all across the board.

LendingClub CD Account

APY

: 3.25% for 6 months, 4.00% for 1 year, 4.05% for 18 months, and 4.10% for 2, 3, and 5 year CDs

Monthly fees

None

Minimum starting balance

$2,500

More Information About LendingClub CDs

CDs differ from standard savings accounts in a couple of ways:

A CD locks your funds into the account for the length of the term.

There is almost always a penalty for withdrawing funds early.

The interest rate on a CD account is fixed for the length of the term.

For these reasons, they don’t necessarily make the best general-purpose savings accounts. They’re better-suited to situations where you know your money will have time to mature and earn.

The LendingClub CD options are decent, though we think they’d be best as an additional savings account if you’re already using LendingClub Bank, rather than as a standalone product.

Personal Loans

LendingClub also offers personal loans — in fact, that’s how the company got its name. LendingClub offers loans up to $40,000 for credit card consolidation, balance transfers, debt consolidation, and more. The rates are fixed, and funding can be available in just a few days. Additionally, they now provide small business loans between $5,000 and $500,000 thanks to partnering with Accion Opportunity Fund.

If you’re already using LendingClub Bank and need to take out a personal loan, it may make sense to keep things under one roof. At any rate, it certainly doesn’t hurt to have the option.

Mobile Banking

The mobile experience is important with any bank, but for online banks it can make or break the experience. We’re happy to report that LendingClub Bank’s suite of apps is outstanding.

The standard mobile app is easy to use and offers all the features you’d expect, including:

Check deposits.

Available balances.

Transaction history and search.

Fund transfers.

There are also features available to help you better manage your finances, set a budget, and keep track of trends in your income or spending. Finally, the LendingClub Marketplace is a tool built into the app that helps customers find financial products from LendingClub partners, including life insurance, student loan refinancing, and more.

LendingClub Bank Review: The Pros and Cons

Wondering if LendingClub Bank is right for you? Our list of pros and cons could help you decide.

Pros

Earn cash back with the Rewards Checking account — 1.00% on all debit card purchases, provided you meet the minimum balance requirement.

Highly competitive interest rate on the High-Yield Savings account (with a reasonable minimum balance).

No monthly fees on any accounts.

No ATM fees at in-network ATMs, and ATM fee rebates for any out-of-network fees incurred, which helps offset the lack of branches.

Excellent mobile app and 24/7 online access.

Cons

No physical branch locations, like most online banks.

CDs have a moderately high minimum balance to open ($2500 across the board).

No IRAs or other savings options beyond the High-Yield Savings and CD accounts.

The High-Yield Savings account is less attractive if your minimum balance dips below $2,500.

Frequently Asked Questions (FAQs) About LendingClub Bank

Have questions about LendingClub Bank? We have answers.

Is LendingClub Legitimate?

Absolutely! LendingClub has built a solid reputation for its online personal loan products. The company has reasonable requirements for new accounts and loan applications, and is transparent with fees and other charges. In our searching, we couldn’t find anything that threw up any red flags. Additionally, LendingClub Bank was originally Radius Bank, which was a regulated, brick and mortar bank.

Is LendingClub FDIC Insured?

Yes, LendingClub is an FDIC insured online bank. That means that any money you deposit with LendingClub is insured for up to $250,000 per depositor. This is important in the event that the bank fails for any reason, as it prevents the money in your checking or savings account from disappearing due to no fault of your own.

What is the History of LendingClub Bank?

LendingClub Bank started life as Radius Bank in 1987 and transitioned to online-only banking in 2012, closing its brick-and-mortar locations. LendingClub is also a fintech — financial technology — company that offers personal loans online. In 2020, LendingClub acquired Radius and renamed it LendingClub Bank. This acquisition marked the first time a fintech company had purchased a U.S. bank.

Penny Hoarder contributor Dave Schafer has been writing professionally for nearly a decade, covering topics ranging from personal finance to software and consumer tech. Freelancer Dennis Lynch contributed to this report.

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January 17, 2023
Cheap Ways to Handle Your Pest Problem, and Prevent Them From Coming Back

In the quiet and calm of night, I started hearing random thuds which I thought were outside my bedroom window.

I ignored them.

Then the thuds moved to the area in the ceiling above my head and scurrying sounds followed the thuds.

It sounded like a dance party with tiny pitter-pattering feet and it meant the rodents in the attic were back.

I knew the sounds. I have had rats in the attic before. I thought they were gone, but they came back.

If you think you have rodents in your attic, there are four things you need to do: Investigate, exterminate, eliminate entry points and decontaminate.

Here are several cheap or low cost ways to rid your attic of rodents.

Got a Pest Problem? First, Investigate.

No matter where you live, rodents can get into your attic space. It isn’t a sign of dirt or hygiene, they’re just looking for somewhere warm and cozy and an attic is both.

“We joke about it, it’s like a motorcycle rider. There are those who have already been down and those who are going to go down. We transferred that over to rats. There are those who have had rats in the past, currently have them, or will have them,” said Patrick Hutchison co-owner of Ratman, a pest and wildlife control company in the Tampa, Florida area. “It’s kind of the nature of the beast around here.”

You might hear thumping, scurrying, scampering, gnawing or squeaking sounds. Your pets might notice rodents before you do, so you might want to investigate if your pet seems to be reacting to something in the walls or ceiling.

The attic animals can vary in different parts of the country, but in most areas squirrels and rats are the biggest culprits. Bats, raccoons, opossums and snakes can also find their way into attics.

Squirrels come and go to get food and are most active in the early morning and evening. Rats are nocturnal and shy, so you’ll mostly hear them during the night.

There are two main kinds of rats — the Norway and the black rat.

Norway rat: Also known as a barn rat, brown rat, common rat, gray rat, house rat, sewer rat, water rat and more. They’re in most of the United States. They prefer lower levels, so they might not be the ones in your attic.

Black rat: Also known as a roof rat, tree rat or fruit rat. They’re common along the Gulf Coast and mostly live in trees and like dead palm fronds and branches. They don’t like the cold and often get into attics or roofs.

All rodents can damage insulation and air ducts, chew through wires or drywall, damage property you have stored in the attic and spread diseases through their droppings.

No matter how much you want them to, attic rodents won’t go away on their own so you’ll need to take some action.

First, you’ll need to take a look to see what kind of critter you’re dealing with. Be careful. Attic footing can be treacherous, so make sure you’re paying attention to where you step.

Here’s what to look for:

Droppings: Rat droppings are cylindrical, shiny black when fresh, and about half or ¾ of an inch long. Squirrel poop looks similar but it is often larger and is more pellet shaped.

Disruption of nesting materials: Look for tunnels and nesting areas. You might see scraps of fur or hair.

Smell of urine: If the smell is really strong, it’s likely the rodents have been up there a while.

Damage: Look for any holes in air ducts or damaged wires or chew marks on anything.

“If you see droppings, they’re not just going to just appear. Some people are naïve and say they don’t have a problem because they only saw one or two,” Hutchison said. “There may be more you don’t see. That one or two lets you know you had a rodent in your attic at some point and how they got in, you don’t know. You need to start being proactive.”

Time to Exterminate

Extermination is the next step.

“While they’re up there, they’re not just hanging out. They’re chewing on things and making a litterbox out of your attic. All that stuff just leads to more extensive problems down the line,” Hutchison said.

The easiest way to get rid of rodents in the attic is to hire a wildlife removal company or a pest control company that handles rodents.

According to HomeGuide, removing wildlife can begin at about $150 and can cost as much as $1,000 or more. The cost depends on the type of rodent, how bad the infestation is, how many entry points are open, the degree of damage, and more. Many companies price different services separately and you can decide what you need.

You can also tackle the problem yourself, if you know you’re dealing with small rodents and there is no sign of attic damage.

“Treating for rats and squirrels are completely different. Squirrels will not necessarily live in your attic. Rats will. You need to extract them in a different way,” Hutchison explained.

Remember, there usually isn’t just one rat in the attic. You’re probably dealing with at least half a dozen. They reproduce quickly.

“Rats will follow each other’s pheromones so if you’ve got one or two rats coming and going, those one or two rats can multiply into four, five, or six and then before you know it, they’ve had a litter and now you’ve got a family of rats. It can go from zero to a big problem in a short amount of time,” Hutchison warned.

Trapping is one part of the extermination process. It solves the immediate issue, but does not prevent further infestation.

There are three kinds of traps for rats:

Live: Live traps are like a small cage that keeps the animal alive. Experts say this might seem more humane than killing, but dealing with and relocating live animals can cause issues since you might be separating babies from moms or dealing with agitated animals.

Glue: Glue traps are a flat surface with a sticky adhesive. Large rats can often pull themselves free and the stuck ones do not die instantly.

Snap: Snap traps use bait to attract the rodent and then a spring-loaded bar comes down on the rodent’s head, killing it instantly.

You’ll need to set more than one trap at a time and try to put them where you know the rats have been. Look for rub marks and places where they have urinated or defecated. Rats often stick to runways which can be along a wall or wood near the edge of the attic. They also like to run along wires.

Rats are fairly smart and are often suspicious about new things, so they can sometimes take your bait without setting off the trap.

For bait, you could try:

Specific rat bait available in home improvement stores

Peanut butter and nuts

Bacon

Dried fruits of all kinds

Hot dogs or sausages

Gumdrops, chocolates, or similar candies

Some rats are picky eaters and might not take your bait or they might be satisfied with the food they’re already getting and don’t need your bait.

A basic rat snap trap starts at about $3 and can go up to about $8. Glue traps start at about $5. Live traps are more expensive. Some emit electronic signals and others are simply enclosures.

It might be tempting to forego the traps and bait and instead poison the critters. Extermination experts say using poison inside the attic is a very bad idea.

“They’re going to eat the poison in your attic and then chances are they will be dying in your attic and then you’re going to have to deal with another slew of issues like a bad smell, house flies, and things that come about with decaying matter,” Hutchison said. “That’s something else you have to deal with all together.”

Also, if you choose to use poisons, make sure the poison won’t harm or kill any wildlife that might eat a rat.

Before you begin trapping, make sure you have a plan to dispose of the animals you catch.

Eliminate the Entry Points

In addition to trapping the culprits, it’s important to keep them from getting in again.

“Once you’re not catching anything, at that point you can go ahead and seal everything up,” Hutchison said. “But still do trapping because there is a chance there still could be something up there.”

Many of the possible entry points are either on your roof or in other high places, so be very careful when on a ladder and do not do this task alone without someone to spot you on the ladder.

Rats can squeeze through any hole about the size of a nickel, so they don’t need much of an opening to find their way into your attic.

Look for any openings like roof vents, soffits, eave gaps, and any openings where things go into the walls, like HVAC connections.

“Basically any area that leads into your attic or into your home, you’ll want to seal it, even if you think nothing could get through it,” Hutchison said, adding even the holes where wires for security cameras run can be entry points for rodents.

Seal any cracks and cover any vents or openings with secure metal mesh, aluminum flashing, or something permanent.

“Some people want to use expanding spray foam to secure holes and it is a good deterrent, but not a permanent seal,” Hutchison said. “Rats and squirrels can chew through that.”

If you’re dealing with squirrels in your attic, installing an excluder door can let them get out of your attic but won’t let them back in.

Once you’re sure they’re gone, you can remove the door and seal the entry with wire mesh.

Also, trim back any trees that are close to the roof, rafters, or gutters and clean up any debris that might be around your house.

This step is where I made my mistake. When I got a new HVAC system, I forgot to have my pest control company come and check to make sure nothing was left unsealed. A recent house painting job might also have dislodged some of the seals the previous pest companies had put in.

After a period of silence, the rats had found their way in again.

They’re Gone. Now What? Decontaminate.

Once the pests are gone, you’ll need to remove what they left behind and disinfect and sanitize by removing droppings and any debris you see.

Rodent urine and feces can carry diseases, so be careful handling materials or breathing in the areas where they were.

“We encourage our customers to do a bleach water spray or a heavy-duty cleaner to clean up and disinfect,” Hutchison says, adding sometimes an attic remediation is necessary if too many rodents were there for too long. “Rats can carry up to 32 airborne diseases, so we encourage anyone who has had an infestation in their attic to have adequate remediation and get it cleaned up so you’re not living with a litterbox above your head.”

Because I was not comfortable doing any of the rat removal myself, I chose to hire a wildlife removal company to take care of my situation.

The entire process to rid my home of attic rats took about three weeks and involved several trapping visits, bait stations outside my house, and sealing several openings. I also have a warranty for the work.

Now I’m catching up on sleep. I didn’t sleep too well during the entire critter removal process because once I heard anything, I couldn’t fall back to sleep.

I was convinced the critters would come through an HVAC vent and land in the bed next to me.

But they most likely won’t.

“Anything is possible that they can get into the home from the attic,” Hutchison says, with a laugh, but adds it doesn’t happen often.

I’m happy they’re gone.

Tiffani Sherman is a Florida-based freelance reporter with more than 25 years of experience writing about finance, health, travel and other topics.

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January 16, 2023
Online Pharmacy Comparison: Their Features, Pros and Cons

During the COVID-19 pandemic, it seemed like everything found a way to exist in a no-contact, digital space, including healthcare. From telehealth to online pharmacies, it was now easier than ever to get medical care and advice from the comfort and safety of home.

Online pharmacies have existed since the 2000s, but have become increasingly popular due to not only the pandemic, but their convenience and often lower prices than brick-and-mortar pharmacies.

Pros and Cons of Online Pharmacies

Sure, they’re convenient. But will an online pharmacy work with your lifestyle? We take a deep dive into the pros and cons of online pharmacies.

Pros of Online Pharmacies

Considering moving your prescriptions to an online pharmacy? Pricing and home delivery are among the pros of using online pharmacies. Let’s take a look.

It’s Easy to Find the Best Deal

One of the biggest benefits of online pharmacies is that it’s easy to shop around. According to the U.S. Food and Drug Administration (the FDA), there are about 35,000 active online pharmacies.

With options from companies like Walgreens, Amazon, and Express Scripts, it’s easy to quickly check the prices and availability of your prescribed medications with only a few clicks. No more driving around from pharmacy to pharmacy to ask about cost and insurance policies.

Your Meds Could be Cheaper

Online pharmacies are sometimes cheaper than in-person pharmacies, too. This can be for a variety of reasons: no middleman shipping company to bring the pharmacy to the store, partnerships with pharmaceutical companies to lower costs, and ability to bring in a larger variety of generic prescriptions from providers across the country.

For example, the Cost Plus Drugs cuts out the middleman and is able to offer many commonly-used prescription drugs for often less than half the price of most in-store pharmacies; Prozac, which is normally about $23 for a 30-day prescription, is just $4 with Cost Plus Drugs.

Your Prescriptions are Delivered Directly to You

Online pharmacies also ship medication directly to your home (or wherever you’d like). Whether you’re busy with work, family, or hate running errands, online pharmacies give you back countless hours of your life by saving you multiple trips to the store each year. Many online pharmacies even have free shipping and free auto-refills with a script from your doctor.

Cons of Online Pharmacies

As great as online pharmacies can be, there are some drawbacks to going totally digital with your scripts. Here are a few of them.

You May Not Be Able To Consult With a Pharmacist

One drawback of using an online pharmacy is the inability to consult with someone about your medication in real time. Some online pharmacies offer live chats or the ability to call in to a trained pharmacy professional, but some do not. This means if you have a question about your prescription or medication, it can take longer to get answers than live at an in-store pharmacy.

Need a Name-Brand? A Generic Swap May be Harder to Rectify

Another issue with online pharmacies can be them swapping your brand-name medication for a generic one without you knowing. While this is a common practice for in-store pharmacies, too, it is easier to recognize and rectify, if you choose, while in-person at a brick-and-mortar shop. Waiting to receive your medication only to realize it is a generic version you may not want, then waiting even longer for an online pharmacy to correct the issue, can be irritating and even put your health and medication schedule at risk.

You May Need a Specific Insurance

Some online pharmacies like Express Scripts require you to have insurance coverage that partners with them in order for you to use Express Scripts’ online pharmacy. There are many reputable online pharmacies that don’t have this prerequisite, but it can be frustrating to find your medication for a low cost at an online pharmacy, only to find out that you need certain insurance to place the order.

Not All Online Pharmacies are Created Equal

While there may be 35,000 online pharmacies in existence, the FDA said in that same article that only about 5% of those 35,000 online pharmacies have completed all their paperwork to prove their legitimacy and good legal standing. This doesn’t mean that the rest are nefarious money-stealers, but it does mean that it’s best to stick to well-known online pharmacies and not venture too deep into recesses of the Web to fill your prescription.

Online Pharmacy Comparison

Which pharmacies take insurance? Which offer free shipping? Can experts help me navigate my prescriptions?

Here’s a look at six of the most popular online pharmacies and their offerings.

Amazon Pharmacy

About: Amazon Pharmacy is just that – the online pharmacy brand of mega online retailer Amazon. Amazon Pharmacy takes the stress out of figuring out prescriptions; they handle transferring your prescription from your existing pharmacy to Amazon Pharmacy, and they will give you advance notice about when it’s time to refill or renew your prescription.

Membership fee: No membership fee, but there are added benefits to using Amazon Pharmacy if you are an Amazon Prime member

Insurance: Takes most insurance and also offers Amazon Pharmacy coupons.

Shipping: Offers free delivery and free two-day delivery for Amazon Prime members

Experts Available: Amazon Pharmacy does offer assistance via the Amazon Clinic, but this is an additional service and is not free.

Cost Plus Drugs

About: Serial entrepreneur Mark Cuban founded Cost Plus Drugs in 2022 in response to his dislike for high markups on commonly-prescribed drugs for diabetes, mental health, and heart conditions. Cost Plus Drugs online pharmacy is transparent about its pricing and uses the following model: wholesale price + 15% markup + $3 pharmacy fee + $5 shipping charge. Cost Plus Drugs partners with TruePill to fill all medications.

Membership Fee: No membership fee

Insurance: Does not take insurance

Shipping: Standard shipping to the U.S. is about five dollars and expedited shipping can range from $25 to much higher. If you have insurance, you may be able to submit the shipping and medication costs as a claim.

Experts Available: Cost Plus Drugs does not offer experts to meet with to discuss your prescription.

SelectRx

About: SelectRx is geared towards helping those who take multiple prescription medications manage all those prescriptions. This is especially useful for those who may fill their multiple scripts at different pharmacies to save money. SelectRx will even sync your prescriptions to be delivered at the same time in a personalized “medication packet.”

Membership Fee: No membership fee

Insurance: Yes, SelectRx takes insurance and will help coordinate prescription refills with your provider and insurance company.

Shipping: SelectRx offers free shipping.

Experts Available: SelectRx does not have medical experts available to chat with, but they do offer consultants who will work with your doctors and insurance for you so you no longer have to sit on the phone with multiple providers and insurance reps.

HelloWisp

About: HelloWisp is an online pharmacy that focuses exclusively on reproductive health for both men and women. It is a one-stop shop for diagnosing symptoms, getting a prescription for the ailment, and having it shipped in a discreet package to your home.

Membership Fee: There is no “membership” fee for HelloWisp, but if your condition is chronic, you will be billed monthly for treatment and prescriptions provided by HelloWisp. This ranges from $15 to upwards of $60.

Insurance: You do not need insurance to use HelloWisp, but if you choose to use your insurance, you will need to pick up the prescription at an in-store pharmacy. HelloWisp does not accept insurance for online consultations with a medical provider.

Shipping: HelloWisp offers free shipping to all 50 U.S. states.

Experts Available: Yes, HelloWisp has users fill out a private health form which is then reviewed by HelloWisp clinicians. The clinician either discusses your situation further with you or provides you with a prescription immediately.

Express Scripts

Description: Express Scripts is one of the largest online pharmacies in existence. They partner with more than 70,000 online pharmacy partners to bring their users the lowest possible prices on medications.

Membership Fee: There is no membership fee, but in order for you to use Express Scripts, it must be included in your insurance benefits. You can see if your benefits include the Express Scripts online pharmacy here.

Insurance: Express Scripts requires that you have insurance and that your insurance includes a partnership with them in order for you to use Express Scripts’ online pharmacy.

Shipping: Standard shipping is free with Express Scripts. If you need your medication sooner, you will need to foot the bill for expedited shipping.

Experts Available: The Express Scripts online pharmacy has more than 1,000 pharmacists available 24/7 for you to discuss benefits or medication with – all online.

Honeybee Health

Description: Honeybee Health was founded by two board-certified pharmacists who owned a small pharmacy in California and were saddened that so many of their customers could not afford their medications. Honeybee Health allows users to compare the prices of multiple pharmaceutical manufacturers – without the markup of insurance – to find the price that fits the user’s budget.

Membership Fee: Honeybee Health does not have a membership fee.

Insurance: Honeybee Health does not accept insurance.

Shipping: Honeybee Health offers free shipping on all orders within the U.S. via the United States Postal Service (USPS).

Experts Available: There are no experts such as doctors or pharmacists to speak with via Honeybee Health.

Colorado-based writer Kristin Jenny focuses on lifestyle and wellness. She is a regular contributor to The Penny Hoarder.

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January 16, 2023
11 Employers That Pay for Your Health Insurance if You’re a Part-Time Worker

Employers of a certain size, by law, have to offer health insurance to full-time workers. But some employers extend coverage to part-timers, too.

The Affordable Care Act, commonly known as Obamacare, defines “full time” as 30 hours or more per week. That’s right — 30, not 40.

“That definitely doesn’t sync up with common usage,” David Frazzini, a partner and health benefits expert at the HR consulting firm Mercer.

If you regularly clock 30 hours a week, and if your employer is large enough, they should be providing health insurance, according to the ACA.

Some employers market this as a perk but, really, they’re obligated to give it to you. Or they may offer some health benefits to part-timers, but the perks aren’t robust enough to qualify as health insurance.

Other companies really do go above and beyond what is required by law. Here are 11 big employers that offer part-time jobs with health insurance.

11 Places to Find Part-Time Jobs With Health Insurance

These employers offer health insurance to part-timers working less than 30 hours per week.

Chipotle

Costco

The federal government

Lowe’s

REI

Starbucks

UPS

JP Morgan Chase

Amazon

Walmart

National Guard

More details about each of the 11 employers and their health care offerings for part-time workers:

1. Chipotle

All hourly workers at Chipotle restaurants are eligible for a suite of health insurance plans. The fast-casual burrito chain provides medical, dental and vision insurance with dependent coverage.

Medical plans are available through Anthem, according to the company’s latest benefits handbook. The vision plan is through EyeMed, and dental is through Delta Dental. Through a separate employee assistance plan, you can also receive mental health counseling for you and your dependents for free — face-to-face, over the phone or through teleconferencing.

Health plans are just some of the perks available to part-timers. The company has been beefing up its benefits package for years. Chipotle also offers accrued paid time off, sick leave, stock options, a 401(k) plan and tuition reimbursement to part-time staff.

Chipotle operates in 48 states and Washington, D.C. Find a job near you on Chipotle’s career page.

2. Costco

Costco, the membership-based wholesale retail chain, is known for providing comprehensive benefits and fair wages. If you work as a permanent, hourly part-timer in the contiguous U.S. for an average of at least 23 hours per week, you qualify for health insurance and other benefits. In Hawaii, you’ll qualify for benefits as long as you’re logging at least 20 hours per week.

The Aetna health plan for part-timers has a $550 individual deductible, and you’ll be charged a copay for most doctor’s visits and prescription drugs. The company shares its health-care benefits summary publically.

According to Costco’s benefits website, the benefits begin the “first day of the month following 60 continuous days of service” in the contiguous U.S. For example, if you started working at least 23 hours per week on December 1, it the earliest you would be eligible for health insurance would be February 1.

If you’re in Hawaii, you only need to work at Costco for four weeks. Then, the benefits will start on the first day of the next month.

Costco stores are located in 45 states and Washington, D.C. Look for jobs near you on the company’s career page.

3. The Federal Government

No matter how few hours you work for the federal government, you’ll be eligible for the same health insurance benefits as full-time employees — as long as your position is permanent.

What varies is how much comes out of your paycheck, according to the Office of Personnel Management, the agency that manages the federal government’s civilian workforce.

“Part-time employees… receive the same coverage as full-time employees but pay a greater percentage of the premium,” the website states. “For example, an employee on a 20-hour-per-week schedule receives one-half the Government contribution towards the premium.”

You can find federal government jobs at agencies such as the Postal Service, the Internal Revenue Service, the Federal Bureau of Investigations and the Department of Veterans Affairs on the USA Jobs website.

4. Lowe’s

The home-improvement retailer offers regular, part-time workers a variety of benefits at most locations. You can enroll in medical, dental, vision and pharmacy plans upon hiring, and benefits will kick in after a full month of employment.

Depending on your area, you may have several tiers of coverage options. Most of these plans have a $0 deductible.

Lowe’s operates in all 50 states. Check its career webpage to find jobs nearby.

5. REI

REI, which stands for Recreational Equipment, Inc., is a membership cooperative that provides outdoors equipment and apparel for sale and for rent. Co-ops aren’t like traditional businesses. They’re run more democratically and are focused on the needs of their members and workers rather than consumers or investors.

So it makes sense that they offer a generous benefits package. Several health care plans are available to part-time employees. There is an HSA that’s open to everyone, regardless of number of hours worked or amount of time employed by the co-op.

If you work at least 20 hours per week, you gain access to plans with lower deductibles (and no HSA option,) including a PPO and in select states, Kaiser Healthcare Plans. If you want one of these plans, you’ll have to wait until a year after your hire date as a part-time worker.

The company operates in 42 states and in Washington, D.C.. Use REI’s job board to see if they’re hiring near you.

6. Starbucks

In addition to health insurance for part-timers, Starbucks also pays toward their college education costs. Photo courtesy of Starbucks

In addition to health insurance for part-timers, Starbucks also pays toward their college education costs. Photo courtesy of Starbucks

Starbucks provides five tiers of medical plans for eligible hourly workers, and eligibility is based on a work week of about 20 hours. The exact number is a little more complex and is based on 240 hours worked over a three month period.

“For example, if you are hired on May 2, we would measure for 240 paid hours in June, July and August. If you meet the requirement over that time, you would receive your enrollment kit in September and become benefits eligible effective October 1,” according to an employee benefits packet.

Starbucks is also one of the few major employers that will pay for your college education as a part-time worker.

Starbucks’ latest medical insurance package includes Bronze, Bronze Plus, Silver, Gold and Platinum coverage options. Depending on the plan, individual deductibles range from zero to $3,300. And copays run from $25 to $50 for doctor’s visits.

Starbucks operates about 15,000 stores across all states in the U.S. Find a gig nearby through its online career board.

7. UPS

UPS has one of the most comprehensive benefits packages for part-time employees. It includes medical, dental, vision and pharmacy programs.

Plans may vary by location. According to the TeamstersCare benefits page, you’ll need to work at least 225 hours over any three month period to qualify. That’s roughly 18 hours per week. If you work 400 hours over three months, you’ll gain access to full-time benefits over that time period.

UPS operates more than 5,400 stores nationwide. You can look for jobs online using UPS’s career portal.

8. JP Morgan Chase

If you work at JPMorgan Chase for at least 20 hours per week, you qualify for health insurance benefits. After working for at least 60 days, you will be eligible on the first day of the last month.

So let’s say you got hired on June 15. In August, you would have logged 60 days. You’d be eligible for coverage Sept. 1.

There are a variety of different plans offered through Aetna or Cigna. If you live in California, you’ll also have the choice of a plan offered by Kaiser Permanente.

To see if there are part-time jobs available near you through JPMorgan Chase, checkout their career site.

9. Amazon

Work 20-29 hours per week at Amazon? Then you’re eligible for health insurance, unless you live in one of the following states:

Connecticut

Illinois

Indiana

Maryland

North Carolina

Pennsylvania

Utah

Wisconsin

There are multiple plans available in the rest of the states, all of which provide 100% coverage of preventative care. Deductibles range from $0 to $1,500 for individuals, and $0 to $4,500 if you want coverage for your entire family.

Amazon employs over 1.5 million people in America. If you’re interested in becoming one of them, you can check out current openings here.

Photo courtesy of Walmart

10. Walmart

Walmart labels people who work 30 hours/week as part-timers – even though they’re considered full-time workers under the ACA.

However, certain jobs at Walmart will provide health insurance if you are truly part-time, as long as you work at least 24 hours per week over a two-month period. Those jobs include:

Pharmacists

Nurse practitioners

Supply chain associates

You become eligible for benefits after you work 60 days at part-time status in one of these positions, but they won’t kick in until the month where you’ve worked for 89 days.

Here’s how Walmart explains it: “For example, let’s say your hire date is May 11, 2022. Your 60th day is July 9, and on that day you’ve worked enough hours to meet the requirement. Your 89th day is Aug. 7, so benefits become effective on Aug. 1.”

You can find open positions here if you’re interested in being one of their 2.2 million US-based store associates.

11. National Guard

Age 35 or under and think you’ve got what it takes to be a reservist? If so, the National Guard offers coverage through TRICARE Reserve Select.

Costs depend on your rank. If you’re E1-E4, deductibles are $60/individual or $121/family, while ranks of E5+ — who are paid more — have deductibles of $182/individual or $365/family. If you only need coverage for yourself, it’ll run you about $48/month in premiums. If you want family coverage, premiums are $91.33/month.

TRICARE doesn’t necessarily mean everything’s covered. In fact, there’s a significant list of exclusions; plans offered by Starbucks provide more coverage in some instances.

Joining the military even as a “part-time” reservist is a serious commitment. Be sure to fully understand the obligations before signing your name on the dotted line. If you do decide that service is right for you, here’s where you can learn more.

When an ACA Plan Is Cheaper and Smarter for Part-timers

Many circumstances may drive you to look for health insurance through a part-time job. Maybe your partner has a full-time job and you don’t need to work as much. You might have child or elder care responsibilities. Or perhaps you’re looking to “retire” early as part of the FIRE movement.

Whatever the case, Frazzini of Mercer says to consider your options on the ACA health-care exchange website.

“For low-income people, the subsidies on the ACA exchanges are pretty generous,” he said, noting that subsidized health plans through the exchange may be cheaper than ones provided by an employer if you’re a part-timer.

In some cases, being eligible for an employer-sponsored plan as a part-time worker might not be a good thing.

“If you are offered coverage by your employer, you actually become ineligible for those subsidies — regardless of whether you take it,” he said.

Also be aware that some employers offer health benefits but not health insurance. For example, in 2021, Target started offering its part-timers a certain number of free telehealth visits with doctors and therapists. And some companies offer cost-share perks for hospitalizations.

Pittsburgh-based writer Brynne Conroy is the founder of the Femme Frugality blog and the author of “The Feminist Financial Handbook.” She is a regular contributor to The Penny Hoarder. Adam Hardy is a former staff writer.

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January 13, 2023
Citibank Review 2023: Checking and Savings Accounts

As one of the largest banks in the world, Citibank has a lot to offer its customers — from useful online features to thousands of free ATMs. It’s also a global bank, with thousands of overseas branches to complement the 700+ in the United States. That gives Citi a definite edge over online banks that have no local presence at all.

That said, Citibank falls short in a few areas — namely, the interest rates on some of its accounts are less than stellar. Additionally, Citi has been heavy on the monthly fees, and while there are ways to waive them, we’d prefer to not deal with them at all.

In February 2022, Citibank became the largest bank in the country to announce it was dumping all overdraft fees, returned item fees and overdraft protection fees by summer 2022.

At the end of the day, Citi is a solid bank that gets a lot right. But is a Citibank account right for you? Read on to find out.

Citibank Checking Accounts

Citi offers a variety of checking account options, ranging from basic digital accounts to high-yield interest checking. There are also several premium tiers available.

Citi Basic Banking

Best for Everyday Checking Needs

Key Features

Multiple tiers of checking accounts available

No minimum starting balance

Earn interest on checking account balance

Citi’s basic checking account, the aptly named Basic Banking Package, offers everything you’d expect from a standard checking account. It’s a no-frills option that makes a fantastic starter account. All overdraft fees, returned item fees and overdraft protection fees have been eliminated.

Citi Basic Banking

Monthly fees

$12 (can be waived)

ATM fee

2.50 for non-Citi ATMs (can be waived if account holder is over 62 years old)

Minimum starting balance

None

APY

n/a

More About Citi Basic Checking Accounts

Citibank offers multiple checking account options. While you can open one up by itself, most of the Citi accounts make more sense when opened as part of a package. These packages include a linked savings account and a handful of other perks, and we recommend going this route if you choose to bank with Citi.

There are three Everyday Banking packages and three Premium Banking packages available.

Everyday Banking:

Access Account Package

Basic Banking Package

The Citibank Account Package

Premium Banking:

Citi Priority Account Package

Citigold Account Package

Citigold Private Client

Most of the Citi checking account packages have a monthly fee, and in some cases it’s rather steep. However, there’s nearly always a simple way to waive that fee. For example, the Basic Banking Package has a $12 monthly service fee, but you can waive it in a number of ways:

Make one qualifying direct deposit and one qualifying bill payment each statement period.

Maintain a combined average of $1,500 in eligible linked accounts.

The first-listed account owner is over 62 years old and opened their account before July 18th, 2022.

It’s a joint account that includes a minor and the account was opened before July 18th, 2022.

Every account has at least one way to waive the monthly service fee, even if it’s just maintaining a certain minimum balance. That said, we’d still prefer no fees at all — which many of Citi’s competitors offer.

It’s also worth noting that the Access Account package doesn’t have an option for paper checks. If you need to write checks, you’ll have to go with a different Citibank account.

Speaking of all the account options — normally, we’re not a fan of too many choices. However, the various Citi checking accounts offer a reasonable progression from basic starter accounts through to the premium offerings, and it’s relatively clear when you’d choose which account. In this case, we’d actually say the variety works in Citi’s favor.

Citibank Savings Accounts

Unlike the checking account variety, Citi really only offers a single savings account option: Citi Accelerate Savings. However, this account is actually an outstanding option with a very competitive interest rate — you really don’t need much more.

Citi Accelerate Savings

Best for High-Yield Savings

Key Features

Excellent interest rate — up to 3.40% APY

No minimum opening balance required

Multiple ways to waive monthly fees

The Citi Accelerate Savings account offers a competitive 3.40% APY, making it an attractive option for anyone looking to keep their checking and savings accounts under one roof.

Citi Accelerate Savings

APY

3.40%

Monthly fees

Starts at $4.50, but can be waived

ATM access

2,300 Citibank ATMS; 60,000 others fee free

Minimum starting balance

None

More About Citi Accelerate Savings Accounts

A Citi savings account makes an excellent companion to one of the Citi checking accounts. The 3.40% APY rate is quite good, and there really aren’t any fees attached to the account — it’s generally very easy to meet the requirements to waive the monthly service fee.

Add in the benefits of a Citi banking package to your Citi savings account, plus the huge nationwide ATM network, and you’ve got a solid savings account option that’s easy to recommend. That said, if you’re only looking for a savings account, we think you can probably do better with another bank.

Other Citibank Offerings

Being a large global financial institution, Citibank offers a variety of other products besides checking and savings accounts. These include CDs, IRAs, and a variety of small business offerings.

Certificates of Deposit (CDs)

Certificates of Deposit accounts, or CDs, are a specific type of savings account that has a fixed interest rate and fixed terms. In practice, this means that CDs are safe investments, but that once your money is in one, you can’t access it (without penalties) until those terms are up. They’re ideal for holding money that you know you want to save for a certain date, or for a safe and guaranteed return on investment without much risk.

Citibank offers an array of CD accounts to meet your longer-term savings goals. There are three choices: a Fixed Rate CD, a Step-Up CD, and a No Penalty CD.

Citibank Fixed Rate CD

Best for Safe Investments

Key Features

Variety of term lengths available

Stable interest rates that won’t change on you

Low minimum starting deposit

The Citibank Fixed Rate CD is Citi’s version of a “standard” CD account. It offers a range of term lengths and interest rates for those wanting to save with purpose.

Citibank Fixed Rate CD

APY

Up to 4.15%

Term length

3 months to 5 years

Minimum starting balance

$500

More About Citi Fixed Rate CD

The Citi CD accounts offer a solid option for people that have specific savings goals in mind. The Fixed Rate CD is a standard CD account and offers a range of terms and interest rates, from 3 months to 5 years.

The Step-Up CD is a slightly different option to most CDs. This account is on a 30-month term and the interest rate increases every 10 months over that term, from 0.05% to 0.15% APY.

Finally, Citibank offers a No Penalty CD, which is a little more flexible than a typical CD account. The No Penalty CD has a 12-month term and enables you to withdraw your full balance without the usual penalties associated with a CD account. As a tradeoff, the interest rate on the No Penalty CD is fixed at 3.40% APY.

Other Citibank Features

Citibank’s size also helps make available a full-slate of banking features. Here are two that you would expect to have at a large bank. And when it comes to mobile banking, any bank really.

Credit Cards

Citi offers a wide variety of credit cards, from travel and rewards-based cards to cash back and business. Interest rates and cash back amounts are pretty standard for bank-issued credit cards. In other words, expect around 17%–29% interest and around 2% cash back for the best options. These cards make good options for people that want to keep all their accounts under one roof.

Loans

Citi also offers a number of loan products, including small business loans, home loans, and personal lines of credit. Personal loans are limited to a max of $30,000 and offer repayment terms of one to five years. Like the credit card products, these are nice if you need a little extra cash and want to keep everything in the same financial institution. There’s nothing inherently special about them compared to offerings from other banks, though.

IRAs

If you prefer a more long-term option for saving — say, to fund your retirement — Citi offers Individual Retirement Accounts (IRAs) with no annual fees. IRA stands for Individual Retirement Account, and it’s a type of long-term savings and investment account that is intended specifically for retirement savings.

Citi’s IRA options include both traditional IRAs and Roth IRAs, and the accounts earn between 0.05% and 4.97% APY, depending on the type of IRA you choose. Options include an Insured Money Market account, Variable CD, and Day-to-Day Savings accounts.

Generally, the money market account is going to be the best option for a long-term retirement account like this. A money market account won’t earn as high of an interest rate as a CD, but you can leave the money in the account much longer, so it will accrue much more over time.

Mobile Banking

The Citibank mobile app is extremely well-rated. It offers all the expected features of an online banking mobile app, from account management and check deposits to customer service and even a place to view your FICO credit score.

While there’s not necessarily anything groundbreaking about the app, it’s easy to use and well-designed. That means it excels at exactly what you’d want your banking app to do. Combined with physical branches, this makes Citibank a very convenient option for personal banking.

As for online banking, you can do everything you’d expect using Citi’s website, from transfers to paying bills. Plus, unlike even the best online banks, Citi actually has physical locations, so you can go get cash in hand if you need.

Pros and Cons About Citibank

Below is a list of pros and cons about Citibank to help you decide if this bank is right for you.

Pros

Lots of choices for checking accounts. It’s very easy to find one that matches your personal financial needs.

A high-yield savings account with an excellent interest rate. The Citi Accelerate Savings account is a fantastic Citibank account option for standard savings.

Useful packages that combine checking and savings accounts. These packages help reduce fees and costs and simplify the banking experience.

Large network of ATMs — thousands are available nationwide, and you can also use any out-of-network ATM for a small fee.

Unique CD account options — the Step-Up CD and No Penalty CD are available in addition to the standard Fixed Rate CD.

All overdraft fees, returned item fees and overdraft protection fees were eliminated in summer 2022.

Cons

High monthly fees. While most accounts have a method to waive the fees, they are almost universally higher than other banks.

Less than one thousand physical locations in the United States. This will either be a non-issue or a deal-breaker, depending on where you stand.

Interest rates are middle-of-the-road at best. CD accounts, in particular, earn lacklustre interest compared to many competitors.

Frequently Asked Questions (FAQs) About Citibank

Have questions about Citibank? We have answers.

Is Citibank FDIC Insured?

Yes. Every Citibank account, including checking, savings, and CD accounts, are FDIC insured. What that means is that each account is automatically insured for up to $250,000 per depositor. This is meant to protect your money in the event the bank fails — you won’t lose the funds you’ve deposited in a Citibank account.

Citibank is owned by Citigroup, Inc. Citigroup is a global financial services company that serves over 200 million customers around the world.

Citibank is a reputable bank with a number of positives going for it. It offers a number of packages that combine checking and savings accounts into an easy-to-manage bundle, and the combined balance contributes to the threshold to waive monthly service fees. Plus, the Citi savings account interest rates are excellent.

Citibank isn’t perfect, of course — the interest rates are middle-of-the-road, and there aren’t as many local branches in the U.S. as some of its competitors. However, if you wan

Does Citibank Offer a Credit Card?

Yes, Citibank offers several different credit card accounts in addition to the usual bank options. Citibank credit card options include cash back rewards cards to balance transfer and low-interest options.

Penny Hoarder contributor Dave Schafer has been writing professionally for nearly a decade, covering topics ranging from personal finance to software and consumer tech.

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January 13, 2023
Want to Build a Cheap Home Gym? Here’s How to Spend Less Than $100

The reasons not to go to the gym are endless: It’s really cold outside. Panting in a workout class with 15 strangers in the middle of flu season doesn’t sound very fun. Maybe you just don’t feel like going.

If the gym just isn’t your thing but you’re still looking for an exercise outlet, it could be time to consider a home gym.

Creating a home gym will not only help you stay in shape but could also save you money in the long run, considering the high cost of gym memberships and boutique fitness classes that can cost more than $20 for a single hour.

But for less than $100, it’s “absolutely” possible to get enough equipment at home to make a difference in your health, said personal trainer Chrisi Moutopoulos. She’s a regional manager in Long Island for GYMGUYZ, the first in-home mobile personal training franchise company. She became a personal trainer seven years ago, after going through her own weight loss journey.

“You can always get fit on a small budget or no budget,” Moutopoulos said.

How to Build a Home Gym for Less Than a Benjamin

If $100 still seems pricey to you, keep in mind: You might spend that for just four Pure Barre classes or a few months of a gym membership. That doesn’t count activation fees or the gas you’ll spend getting there and back.

Once you stock your home gym, it’s yours to keep — no membership renewal necessary.

For anyone getting started, Moutopoulos recommends consulting with both a doctor and with a trainer. They’re experts in the field and can help customize a plan that works within your restrictions and your goals. It’s a potential up-front cost, but worth it to make sure you’re being smart.

After that, here’s what you need to start your own workout room and how to use all that new equipment.

Resistance Bands

Cost: $10+

Exercises: Clamshells, leg lifts, almost any bodyweight exercise

You can amp up nearly every classic exercise you can think of by adding extra resistance.

The cheapest way to do that? Resistance bands.

While you can find the equipment on this list in any sports store or online, Moutopoulos said stores like Five Below have an affordable selection of decent fitness equipment.

Resistance bands can cost less than $10. They usually come in a set of different tensile strengths, so you can customize your workout.

Balance Ball

Cost: $15+

Exercises: Jackknife, plank (not actually just for men, despite the video!), bridge, back extension

Ah, the stability ball. Turns out it’s good for more than just replacing your office chair and making your colleagues feel lazy!

It has a reputation for core work, but you’ll find you can use it for everything from glutes to arms. Tons of full-body workouts require nothing but a properly sized stability ball.

Plus, they’re dirt cheap — starting at about $16 and going up to about $30, depending on the size and brand.

Dumbbells

Getty Images

Cost: Around $20 apiece, depending on weight

Exercises: Bicep curls, shoulder press, overhead triceps extension, flyes, deadlifts, the works!

Full disclosure: This is the most expensive item on the list. Dumbbells can go for $10 or more each — and yes, that means a single dumbbell, not a set of two.

That said, dumbbells are awesome. They’re one of the most versatile and long-lived pieces of equipment you can add to your home gym.

This popular version costs about $20 for the 10 lb. version, with the cost increasing or decreasing based on the weight.

If you’re just starting out and aren’t sure where you stand — or squat, as the case may be — you might consider snapping up a more costly set of several dumbbells, or an adjustable version. That way, you’ll have a few options to choose from, and you can scale in either direction if things prove to be too heavy or too light.

You can also find them (and anything else on the list!) pre-owned on Facebook Marketplace to cut your costs even further.

Other Home Gym Odds and Ends

Although you can craft an effective workout with any of the home gym equipment listed above, there are other odds and ends that you may want to consider, depending on your preferred routine.

Yoga is a good way to round out intense training, and stretching is always a must. You can get a yoga mat for as cheap as $20 or get fancy — Manduka mats are pretty expensive, but they do offer a lifetime guarantee!

If you have the right space in your home for it, a doorway chin-up bar can be a great addition to a home gym. They typically cost between $30 and $50 and work way more body parts than just your arms: core, back, shoulders — you name it.

Staying Fit Might Be Hard, but It Doesn’t Have to Be Complicated

Caitlin Constantine supplements her at-home workouts with a strenuous training program involving long runs, swims and bike rides. Heather Comparetto/The Penny Hoarder

It’s easy to overthink fitness. But the most important thing is to start moving.

You don’t even have to wait for your dumbbells to ship: You can hold a stack of books to get more out of your squats. You can use a chair for dips and pushups. Your home is already a treasure trove of DIY gym equipment, if you’re creative.

Exercising doesn’t have to be intense or unpleasant — in fact, it should be fun! Dancing in your underwear or chasing your toddler around the backyard both count.

Ideally, you’ll get your heart rate up, do some weight-bearing exercises to keep your muscles strong and stretch enough to maintain your flexibility. But it doesn’t have to be complex — or expensive.

“Fitness should be accessible and attainable for everybody,” Moutopoulos said.

Jamie Cattanach and Cassidy Alexander are contributors to The Penny Hoarder. Former editor Sushil Cheema contributed to this post.

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January 12, 2023
These Are Everyday Items That You Can Recycle for Money

Why toss things in the trash when you can recycle them — and make a little money in return?

By diverting certain items from the waste stream and keeping them out of landfills, you can also make extra money or help out worthy causes. From scrap metal to ink cartridges, bottle caps to construction materials, you can recycle a huge variety of items in exchange for cash. We’ve also included information on how to recycle items for the sake of good will.

Businesses should also look at the recycling market for some extra cash. Restaurants can sell used or rancid cooking oil. Old cars and vans can be scrapped for money, as well as large appliances

Ready to see all the different things you can recycle for money?

How to Recycle Household Items for Cash

First, you’ll need to find a recycling center or collection point that is looking for what you want to get rid of. While the goal is to make money, you might settle for a donation — which could be tax deductible — if it means clearing out the garage. The collection center will also let you know how to prepare items to their specifications.

Find a Collection Point

To find a recycling center near you, head to Earth911.com and plug in the item you’re looking to recycle along with your location. The site lists collection locations for materials as diverse as antifreeze and ammunition, computers and clothes.

Prepare Items for Recycling

Of course, not everything pays, and it’s important to prepare recyclables according to the organization’s specifications. This is especially important if you are recycling hazardous materials. Metal scrappers pay more for clean metal, sometimes almost twice as much.

Recycling centers may require you to remove bottle caps, rinse and bag bottles in certain increments, or sort and tie together cardboard. Checking the rules before you go will save you time later.

Be sure to properly bag items that may make a bit of a mess. Even if you thoroughly rinse all your bottles and cans, there might be water and other residue on them, so be sure to transport them in bins or bags to protect the interior of your car.

If you’re donating a cell phone or other electronic item, be sure to clear your personal information from it, including contact lists, voice mails, text messages, photos, passwords, downloads and anything else that you wouldn’t want random strangers to access. Backup your information on your new phone, your computer or a cloud-based service, then restore your old phone to factory settings before recycling it.

Items You Can Recycle for Money

There are a lot of recyclable items around the house (maybe in the garage) that can bring in some money. Depending on where you live, you can get paid to recycle:

Scrap metal

Bottles and cans

Car batteries

Ink cartridges

Cell phones and other electronics

Junk cars

Wine corks

Cardboard boxes

Cooking Oil

1. Scrap Metal

Scrap metal is one of the more profitable materials to recycle.

Copper, steel and aluminum are just a few of the scrap metals that you can recycle for money. Google your local area and “scrap yard” to find a facility that takes whatever metals you have and learn their procedures for drop off.

Scrap metal prices were rising because of the pandemic caused shipping woes. Some forecasters think prices will start to sink later this year. Now is a good time to get rid of that junk metal.

Once you have rounded up your metal, find out if it is ferrous or non-ferrous by seeing if a magnet sticks to it. If it does, the metal is ferrous and likely a common metal like steel or iron. These items typically aren’t worth much, but it’s still worthwhile to recycle them. If the magnet does not stick, you likely have copper, aluminum, brass, bronze or stainless steel on your hands. These metals are more valuable.

Copper is one of the more profitable metals: Copper wire and tubing yields between $2 and $3.40 per pound, depending on the quality and thickness of the wire. Aluminum typically earns between 40 and 70 cents a pound, yellow brass can yield about $1.65 per pound.

Die-cast metal, which is usually made from zinc, aluminum, and other non-ferrous metals, goes in the 20-to-30-cents-a-pound range, though local prices vary. Zinc is worth more than aluminum.

2. Bottles and Cans

One Penny Hoarder writer made $1,500 cashing in soda cans he collected at work. You, too, can make money by rounding up bottles and cans, whether from work, friends and family, at events, or just the recyclables you use at home.

The World Economic Forum estimates that even though most aluminum is recycled, there’s still seven million tons not recycled every year. That’s a lot of money left on the table.

California offers 5 cents for most plastic and glass bottles and aluminum cans smaller than 24 ounces, and 10 cents for 24-ounce or larger containers. It’s technically a bottle deposit, but many people don’t bother to collect their refunds, so it’s easy money for bottle and can collectors.

Michigan has a 10-cents per bottle recycling rate, which has prompted people to illegally smuggle in empty bottles purchased out of state to cash in. (This was even the plot of one Seinfeld episode!) Many states have similar deposit programs, so check what’s available where you live.

3. Car Batteries

Advance Auto Parts offers a $10 store gift card to customers who bring in their used car batteries (light-duty truck batteries are also accepted). If the company doesn’t have an outlet near you, call your local auto parts stores to see whether they offer similar deals.

4. Ink Cartridges

A number of office supply stores, including Staples and Office Depot accept used ink cartridges for recycling. Staples offers $2 back per cartridge, with a maximum of 20 returns per month, and you have to spend at least $50 on ink or toner within 180 days of recycling.

Office Depot also gives you $2 back in program rewards for each ink or toner cartridge you recycle, up to 10 cartridges per month. But you must also purchase ink from them the same month. There is no limit on the number of cartridges you can recycle, but you will only receive points on the first 10 per month. You can use your points toward a number of different perks and discounts.

5. Cell Phones

Eco-Cell is one of many companies that offers cash for old cell phones and other electronics. The company accepts working or broken phones, tablets, rechargeable batteries, circuit boards and a variety of other electronics. Even if an item is broken or was submerged in water and is unusable, Eco-Cell will accept it in order to divert electronics from landfills and properly dispose of their toxic components and metals.

Many cell phone providers, including Verizon and AT&T, have trade-in programs where you can receive a voucher, gift card or other reward for turning in your old phone. Amazon Trade-in is another way to earn gift cards.

A number of charities also accept cell phones, whether to re-purpose or sell and use the funds for a charitable purpose. Cell Phones for Soldiers refurbishes and sells your old phone to active-duty military members and veterans. If a phone is too old or broken, Cell Phones for Soldiers sells it to recyclers who strip it for parts and dispose of its metals responsibly. The proceeds from the sales go to purchase international calling cards for troops and provide emergency financial assistance to veterans.

Organizations that work with domestic abuse victims also accept used cell phones for their clients for emergency 911 calls.

And of course, you can always sell your old phone yourself.

6. Junk Cars

Your rusted old jalopy? You can recycle it for money. There are companies that pay cash for broken down cars. U-Pull-It has a helpful guide on the best way to scrap your car.

Junk Car Medics is another company that will buy your vehicle. You can sell your car to them online or over the phone. You enter details about your vehicle, such as condition and mileage, and quickly get an offer. If you accept it, you’ll have to provide proof of ownership and a few other details before you get paid. The company says most transactions are same-day, and they take the car away for you.

7. Wine Corks

You can let your wine pay a little bit for itself. Sites like Etsy and Ebay and others show listings for used wine corks. Selling on these sites isn’t difficult. When setting prices, keep in mind that the sites charge small fees for both listing and selling items.

You also want to make sure you know how much it will cost to mail an item so there are no unpleasant surprises during the transaction.

Got some items to recycle and want to make money from them on Etsy? Here’s a step-by-step guide.

8. Used Boxes

Just moved and have a bunch of boxes? Or do you have a slight online shopping addiction and have piles of boxes in the garage? You can resell your boxes through Boxcycle and other similar sites. They take pretty much everything as long as they are still in decent shape and don’t smell.

9. Electronics

Old laptops, monitors, tablets, and other electronics can be sold through sites like Decluttr. But wait, there’s more! They also take dvds, cds, books, games, and cell phones. Decluttr has an app you can download to make selling easier.

A similar site is IWM, which stands for It’s Worth More. It covers similar electronics but also includes camera sales.

10. Cooking Oil

Used (or spoiled) cooking oil is used in biofuels, which is a growing market. While an individual household may not use a lot of oil, many restaurants do. Lots of companies will offer to give you containers and pick up your oil. Only a handful promise to pay. GF Commodities services most of the continental US and will pay for oil.

11. The Rest of Your Unwanted Stuff

You can “recycle” belongings you no longer want on a variety of apps and platforms and get a little something back for them. ThredUp, Swap, and Poshmark are popular apps where you can sell clothes online.

ThredUp will send you a free shipping label and apply credits for anything that sells to your own account, but it’s often not a lot of money. Poshmark offers bigger potential payouts, but you have to put in more work to make your items move.

OfferUp is a second-hand site where you can buy or sell just about anything you no longer use.

Ziffit is another site for selling CDs, dvds, books, and games.

Someone has to provide all of those tennis balls to the pups. There are several sites accepting used balls, including Rebouncing and Tennis Ball Recycling.

If you have a bunch of gift cards that you haven’t (and probably won’t) used, you can sell them online for cash. It won’t be for the full amount of the card, but better than them just sitting in the junk drawer. Cardcash lets you post your card and sell it directly. On the other hand, you post what you have on Clipkard and the site directly makes you an offer.

Bartering

Cash is nice, but sometimes trading is better. There are bartering sites for almost anything. Trade for houses, books, clothing and more. Some sites charge a fee for participating or individual transactions.

Some of the general purpose sites are Swap Thing and Barter Only.

Donating

You might hear public radio stations asking you to donate your old vehicles for a tax donation. If you don’t mind doing little detail in your tax return, you can get significant deductions by donating larger, unwanted items.

Many nonprofits work with companies collecting and selling cars, boats, motorcycles, golf carts, and other vehicles. The vehicle gets picked up and is sold at auction. Once it is sold, you get a notice of the amount sold for your taxes. While it isn’t direct cash, if you need a big deduction one year, this could help.

Contributor JoEllen Schilke writes on money-saving strategies and lifestyle topics and Kristen Pope is a former Penny Hoarder contributor.

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January 12, 2023
Our Ultimate Tipping Guide Explains When You Should and How Much To Leave

Tipping people who provide services — hairstylists, nail techs, movers, bartenders — is a common practice. It’s also something that brings out a lot of strong feelings.

Customers expected to leave the money often balk because they don’t like the idea that the extra payment is seemingly required. They argue that the expectation makes it almost meaningless as a token for a job well done. On the flip side, some service providers — especially restaurant waitstaff — depend on those tips to make a living wage.

There are not many financial topics that elicit such strong feelings as the idea of tipping. If you need proof, ask your Facebook friends their opinions on tipping. Expect lots of responses and maybe even a heated discussion.

Besides wondering why and if we have to tip, we also want to know how much to leave for all the people who provide different services. The Penny Hoarder’s Ultimate Guide to Tipping is here to help.

Why Is Tipping a Thing in the U.S.?

Leaving tips in the United States has become standard and ubiquitous. We picked up tipping etiquette from European royalty in the 1800s, even though Europeans generally stopped leaving tips.

and bars can charge less for their food and drink because they don’t have to pay service workers that much (except in a handful of states).

Tipping customs vary from place to place. Our tipping guidelines will help you know the standard tip amount for service, and how to calculate extra to thank someone for excellent service.

Understanding Tipping Etiquette

Tipping changed in the early days of the pandemic. As restaurants and other services scrambled to figure out how to survive, people tipped generously to try to help the businesses and workers make it through. Overall, expect to tip 15-20% for decent to good service. A 25% tip works for outstanding service. This has gone up a little over the last few decades.

You can tip on a credit card, with cash, or in some instances, through peer-to-peer sites such as Venmo. How you tip is up to you. Some businesses do tip sharing, where everyone gets a piece of the pie, such as cooks, dishwashers, and bussers in restaurants. Others require that their tipped employees tip the staff that helps them, such as the bartender tipping the barback.

While not a pandemic of a problem, there are cases of employers withholding tips from employees. If you find yourself questioning the integrity of an establishment, but you find that you really enjoyed your server at a restaurant, or perhaps your mover, it may be best to directly give them cash. If you are concerned with how your tips will be processed and if it will be done fairly, feel free to ask the person you will tip or their manager. You may find more honesty in one or the other to help guide your judgment with the intricacies of tipping.

Tipping can also be an investment in future service. If it is a place you frequent, being known as a pretty decent tipper is a great way to ensure ongoing good service. You might even simply like a particular business and wish to give a little more than what you need to pay for.

How to Calculate Tips

Some folks cherish the opportunity to do math in their head. If that’s not you, calculating the tip doesn’t have to be difficult. You can choose your tipping amounts on the pre-tax or total bill, or if you have a special deal, on the original price.

Ten percent of that is just moving the decimal point over one space to the left. So, a $20 bill would mean a $2 tip at 10%. Twenty percent is double that amount; that $2 tip becomes $4. Fifteen percent is that amount and then half of it is added; $2 plus $1 so the tip is $3 on $20. And so on. Another reason why 20% is a great amount, easier math! Some people like to then round up to the nearest dollar, which is a nice gesture.

The Ultimate Tipping Guide

From restaurant servers to nail technicians and tattoo artists, leaving a tip is an expected part of the experience. The following guide will help you understand how to decide how much to leave.

Hospitality

Almost everyone knows that tipping is a standard practice when going out to eat and drink. The people serving you are typically paid much less than the federal minimum wage, often just over $2 an hour. Always put a few dollars in the going out budget for tips. You don’t have to tip at fast food restaurants, they are paid a regular wage, not a tipped wage. Many restaurants have their servers and bartenders tip out other staff too. This means servers are not getting all of the amount left by patrons.

How Much to Tip Bartender

Per drink, depending on the drink: $1-$3. Though, if you’re up for quick math, 20% of the cost of the drink is the accepted standard. You’ll tip less for a bottle of Bud Light with a twist-off bottle cap than a Cranberry Sour with six ingredients and a floating island of sugared cranberries at the top.

How Much to Tip at Restaurant

Sit down restaurants: 15-25%. This might be the most contested of tipping areas and one where the servers depend on tips to make up for low hourly wages. The level of personal service is high at restaurants where service is good — and even when it’s not so good.

How Much to Tip for Takeout (When You Pick Up)

Here is one area definitely changed by the pandemic. Many people used to not put anything in the tip jar when picking up takeout. As restaurants scrambled to stay open, takeout was often the only option and folks tipped generously. Takeout involves a lot of the same prep work that eating in does, so go ahead and tip 5-10%.

How Much to Tip Food Delivery Driver

If you use a food delivery app, Glamour magazine suggests that you definitely tip if you want your food delivered quickly. Some drivers can see the tips ahead of time on the app and choose deliveries. You should anyway, since most drivers rely on tips to pay for their gas and vehicle wear and tear.

There could be a delivery charge on your order, but don’t assume that it goes to the driver (ask when ordering). You can tip $2-$5 for lower priced meals, then between 10-20% of the bill total for pricier meals. Tip on the higher end when the weather is bad!

Grocery delivery usually has a default delivery amount of 5% of the bill, or a minimum of a few dollars. You can change the amount or opt out.

How Much to Tip Pizza Delivery

Anyone bringing you delicious pizza should be generously rewarded! Basically plan on $2-$3 a pie, unless it is a big order and then more. Calculate 15-18% of the total bill.

How Much to Tip the Bathroom Attendant

For handing you a towel, feel free to tip 50 cents or a dollar if you don’t carry change. For mending hems, helping you with items, or fixing your things, give them $2-$3. Coming across a bathroom attendant when you’ve never seen one before can be a little awkward, but there’s usually a change dish on the sink counter to leave the money in.

Personal Appearance and Care

Trips to salons or barber shops give us a chance to slow down and relax, with the excellent result of feeling better about how we look or feel. Enjoying spa services is a lovely treat. When you are done and feeling good, add a tip to the bill for those who helped you. They might only make tips for pay (especially in nail salons), and are paying rent for their space.

Getty Images

How Much to Tip Hairdresser

It is pretty standard to tip your hairdresser 15-20% when you are pleased with the results. That is the usual amount for almost all self-care services. If a few people worked with you, such as a hairwasher, then it is proper to throw a couple of extra dollars in at the end for everyone.

How Much to Tip Barber

The same as with a hairdresser. Tip the guy who gives you the expert fade or flat top 15-20% of the bill. If you find yourself in a situation where you got a really cheap haircut and 15 to 20% of the bill is less than $5, it’d be kind and easier to simply tip the $5, especially if it was quick.

How Much to Tip at the Nail Salon

The technicians at the nail salons are doing all manner of pedicures and manicures, plus facials and waxings. The going rate for tipping is 15 to 20%.

How Much to Tip Facialist

That hourlong or more facial takes skill plus lots of emoluments and equipment. Leave an 18-20% tip as a token for making your skin glow.

How Much to Tip Tattoo Artist

Typically people tip their tattoo artists 20%, but that can change with the complexity of the tattoo and quality of the experience.

Should You Tip Massage Therapists?

Tipping etiquette with massage therapists depends on location. If you are visiting a spa or getting a massage through your hotel, then it is proper to tip 20%.

Scott Elliott, a licensed massage therapist in Gulfport, Florida, says that tipping “is OK. But in a clinic setting it is not expected. (However) all welcome it!”

Travel

Include tip money in your travel plans. This tipping guide for travelers will help you whether you’re staying in a luxury hotel or one of our national parks. If you are traveling overseas, check to see tipping guidelines for the countries you are visiting. Always tip your tour guide!

How Much to Tip Rideshare Drivers

When various rideshare companies started, it was a cashless exchange. No longer! Tip drivers 10 to 20%, depending on how good the trip was; if they helped you with luggage; how long the trip is; and the cleanliness of the vehicle.

How Much to Tip Taxi Drivers

Tip your taxi driver the same as you would a rideshare: 10 to 20%.

How Much to Tip Hotel Housekeeping Staff

There are a couple of ways to tip housekeeping. If they are doing your room every day, then leave $1-$5 out on the dresser or by the bed for them. Or you can leave a tip at the end of your stay, equaling $1-$5 per day. It’s more likely that your housekeeper will be rotated through different areas each day, but feel free to check with the front desk if you want to tip your housekeeper more accurately. If you think your room is more trouble to clean than the average feel free to leave more money. A thank you note with the tip also goes a long way.

How Much to Tip Shuttle Driver

Either $5 for the trip or $1-$2 for each bag. Shuttle drivers taking you from airport terminals to car rental facilities or parking garages will usually help put your bags on and off the vehicle.

How Much to Tip Valet Parking

Between hotels and restaurants, especially in urban settings, self-parking parking is difficult. Pay the valet who parks your car and then runs for it when you’re down with your event $2-$5. If parking is notoriously expensive, you’re retrieving your car very often, or of course, find the service exceptional feel free to tip more.

How Much to Tip Bellhop

When you get to a hotel, there is often a bellhop who greets you, guides you to check-in and may carry your bags. If there’s no bag handling, tip the bellhop $1-$2. If the bellhop delivers luggage to the hotel room, the tip should be $1-$2 per bag.

How Much to Tip Room Service

Check the bill to see if gratuity has already been added. A 15% gratuity is an appropriate tip.

How Much to Tip on a Cruise

Cruise lines might have a service charge or automatic gratuities, to use the industry term, already added to the bill. As in other parts of the service industry, cruise line workers are not highly paid with the assumption that tips will make up the difference. Check your contract to see if tips are already included.

Even if they are, being generous to staff can help maximize the pleasure of your cruise. Overall, the 15-20% rule applies, especially to your room steward who leaves all those cute towel animals on your bed.

How Much to Tip Tour Guides

Tipping tour guides depends on a few factors. Private tours for a few people would elicit a 10 to 15% of the tour cost tip per day for the guide, and another 5 to 10% for the driver. Group tours where everyone is giving something would be 4 to 5% per person.

Miscellaneous

There are other people who provide services that you might wonder about how or why to tip. Here are a few to add to your list.

Getty Images

How Much to Tip Movers

Your moving company probably hasn’t included gratuities in its budget proposal, but make sure you put the cash aside for it. Tipping isn’t required, but since it is hard work done for relatively low pay, it might be more surprising when people don’t tip.

Tipping movers has a few factors to keep in mind. Is this a short move or are you going a few states away? If you’re loading in one state and unloading in another, there is a good chance it is two different crews, and therefore two tips.

Did your humongous flat screen make it safely because it was carefully hand carried? Did they move a dozen or more boxes of hard-back books? Various sites suggest $4-$12 per mover per hour, or about 15% of the total bill.

If the movers worked in the rain, helped set up beds, or went above and beyond in other ways, go with the higher end of the range. You can also provide food and drinks to the movers if it is an all-day job. When it is a short move, easy and everything is packed up, then you can focus on the low end of the range.

You can tip the head person and have them distribute the tip, or you can give each person cash individually. Moving is an anxiety-producing time, and you will be pleasantly surprised how a nice gesture to your movers makes the ordeal go more smoothly.

How Much to Tip Dog Groomer

A reasonable tip for the dog groomer is 15-20%. Other pet-related services, such as pet sitting and pet walking, don’t require tips unless the person has done a little extra. If your pet has special needs, or the person was able to help out at the last minute, a 15-20% tip might ensure they are available when you need them.

How Much to Tip House Cleaner

You depend on this person to keep your house dust- and smudge-free so tip them 15-20% of the regular bill. Dependable and thorough house cleaners are in big demand. Tip them enough so that they stay with you.

How Much to Tip Car Wash

Basic car wash and towel drying is $2-$5, and the tipping amount goes up as more services are added. Detailing definitely deserves more money and takes more time, so 10-20% of the total package is good. Car wash attendant pay is low, so the tips really matter to the workers. At some car washes, the tips are gathered in a communal container and then disseminated by the crew chief at the end of the shift.

How Much to Tip Casino Workers

While going to the casino may not be on the top of the list of places to visit for the financially savvy, you may find yourself going on a trip to Atlantic City or Las Vegas sometime in your life. And you may be drawn to play a game like blackjack while you’re there. If you end up winning, whether it’s big or small, it is customary to tip your dealer at least $5. If you win big, you can tip more. Once you cash out, it’s also a good idea to tip the cashier between $5 for small wins and $100 for big wins. After all, the cashier is the person double-checking you’re getting the money you deserve.

How Much to Tip Musicians/DJs/Entertainers

We’ve all been out on the street in a big city, town square, or boardwalk and come across musicians and other entertainers performing. While tipping in these cases is not explicitly required, if you found yourself enjoying their work, it’s kind to tip them. We’ve all seen the open guitar case or tip jar street musicians have lying around. It’s very hard to place a value on being entertained, but parting with a $5 bill seems like a safe fallback in most circumstances. If you liked it, and $5 seems too much, just throw a few dollars their way. But if you find yourself enjoying a private concert for an hour, pass them a little more than $5. Of course, if you think they deserve more than that feel free to tip more.

How Much to Tip Golf Caddie

If you are an avid golfer, you might find yourself with a caddie companion quite often. Different clubs have different levels of caddie services from forecaddies to junior caddies to single and double-baggers or more. Don’t get too lost in all the variation. It’s safe to go with the standard 15-20% tip upon completion of your golfing outing.

How Much to Tip Gardener/Landscaper

Tipping a landscaper or gardener has some nuance. If it is one person or a regular crew keeping your place tidy, then you are already paying them for their service. But if it’s some one-off thing of extreme importance or difficulty, similar to hiring a mover for a day, consider the safety of tipping them 15-20% for their service.

How Much to Tip Recreational Instructors (Skiing, Surfing, Shooting, Diving)

Recreational activities can vary widely, but there are a couple of common ones where instructors provide lots of help for such a unique experience. These activities specified below are more niche than something like hiking, and a good instructor will keep you safe and enjoying the experience, so it is customary to tip them.

Ski and snowboarding instructors are typically tipped between 10-15%, for a private lesson up to a group lesson.

Surfing instructors are customarily tipped the same rate, at around 10-15% for lessons. Lots of surfing instructors are also lifeguards, so consider your tip as doing double duty.

There are some shooting ranges that suggest you tip your range safety officers. It’s their job to keep one of the potentially most dangerous places safe. They’re often kind enough to show you how to treat the equipment with respect and safety and even operate it properly should you need a quick tutorial. While it’s not customary to tip them everywhere, in ranges where it is, go with the safe bet of 10-20% if you found them particularly helpful.

While diving can be one of the coolest experiences out there, breathing in water is not. For a safe experience with a good diving instructor, a good guideline to tipping them is between 10-15% like other private recreational activities.

How Much to Tip Gas Station Attendants

Gas station attendants are either something you see every day if you’re from Oregon or New Jersey, or something you’ve never even heard of. While it is not customary to pay gas station attendants and they are not known for relying on tips, if they go out of their way to pump the gas, clean the windshield or help you in any exceptional way, it’d be kind to pass them a few bucks for the help.

How Much to Tip a Babysitter or Nanny

While babysitters are typically compensated, there may be times when a tip is appropriate. Besides going above and beyond, feel free to tip a babysitter 10-20% of their regular rate for flexibility, taking care of more children or sitting during the holidays.

Frequently Asked Questions (FAQs) About Tipping

We got our expert advice on modern tipping etiquette guides for tipping tips from various sources including Emily Post and interviews with different practitioners to get the truth about gratuities. Though there was a range in amounts, all the sites agree that an important part of the tipping interaction is remembering that you are showing gratitude and care by tipping.

A general rule is that tipping 20% is usually the safest amount, indicating that you are a competent, generous person, and that you are satisfied with your service. If you had a great meal with wonderful service provided, 25% communicates your gratitude. A 15% tip indicates things were adequate, and less means that they weren’t good.

Remember when calculating the tip, that there are things wait staff in restaurants have no control over. They may be out of your favorite dish, or only have a tiny table for your party. Opinions about those types of issues go to the manager.

What Do You Tip Your Hairdresser at Christmas?

Even though you have tipped through the year, it is thoughtful to add a bonus tip for Christmas or any of the end of the year holidays.

They are also a good time to offer a little thank you tip to people you generally don’t tip throughout the year. Here is a quick guide to tipping these folks, if you appreciate what they do.

Personal trainer: cost of one service

Mail carrier: $20

Newspaper delivery: $10 to $30

Nanny: A week’s pay

Housekeeper: Amount of one service

Doorman: $25-$100

UPS/Amazon/USPS delivery person: Usually prohibited from accepting tips, but a nice gift basket is good.

Home health aide: A week’s pay

Dog walker/sitter/groomer: Amount of one service

Pool cleaner: Amount of one service

Teacher: A gift rather than cash.

Tutor: Amount of one service

Sanitation worker: $10 to $30

How Should I Tip When Using a Coupon?

If you are using a coupon for a meal or service, base your tip on the amount the total cost would have been without special pricing.

Should You Tip If the Person is the Owner?

Traditionally people don’t tip the owner of the business, even if they are directly providing the service. For example, most people are not expected to tip the owner of the salon when they do your hair. It isn’t insulting if you do, and if it is a fairly new business, it is a lovely gesture.

What is the Tipping Etiquette for Wedding Planning?

We have written a whole tipping guide just for weddings because there are so many people involved in the event, including florists, caterers, photographers, hair and makeup experts, bartenders and more. A good rule of thumb when you are planning a wedding is to include tip money for the vendors. When you are looking at the contracts, check the catering and bartending ones to see if there is a gratuity included, so you don’t inadvertently double tip. Otherwise, tip 15-20%, to be split up among the workers.

Are There Other Ways to Tip Besides with Cash?

Yes! There might be a situation where workers can’t accept tips. You can show your gratitude and appreciation by leaving a positive online review; writing a note to the owner or supervisor complementing their staff; baking cookies for your mechanic; or posting a nice note on social media.

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. Freelancer Dennis Lynch contributed to this post.

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January 12, 2023

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Tag: freelancers

What Is a Meal Kit?

Meal Kits vs. Prepared Meal Kits

1. Blue Apron: Best Choice for Foodies and Wine Lovers

2. HelloFresh: Best for Fresh Food and Good Promotions

3. Dinnerly: Best for Families on a Time Crunch

4. Freshly: Best for Singles Who Want a Ready-Made Meal Option

5. EveryPlate: Best for Subscribers on a Strict Budget

6. Home Chef: Best for Users With Special Dietary Needs

7. Green Chef: Best for Customers Who Want Organic Ingredients

8. Purple Carrot: Best for Vegan Subscribers and Veggie Lovers

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Why Choose a Meal Kit?

Making Your Own Meals vs. Ordering a Meal Kit

Frequently Asked Questions (FAQs) About Food Delivery Services

How Bank of America’s Fees Work

Avoiding Monthly Maintenance Fees

How Customers Reacted to Bank of America’s Monthly Maintenance Fees

Bank of America Advantage SafeBalance Banking®

Bank of America Advantage Plus Banking®

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How to Avoid All Bank of America Fees, By Category

Checking Account Fees

Savings Account Fees

Wire Transfer Fees

Overdraft Charges

ATM Fees (Out of Network, International, etc.)

Bank of America vs. Other Banks: Comparing Fees

Bank of America Advantage SafeBalance Banking Checking Account

Bank of America Advantage Plus Banking Checking Account

19 Ways to Save Money on Utility Bills

Tips and Tricks for Saving Money on Your Electric Bill

1. Change Air Filters and Keep Vents Clean

2. Adjust Thermostat Throughout the Day

3. Adjust Temperature on Water Heater

4. Invest in Fans

5. Get Into the Habit of Unplugging

6. Invest in Blackout Curtains

7. Check Ductwork and Attic

8. Use Energy Saving Light Bulbs

9. Cut Dryer Time With Dryer Balls

10. Upgrade to Energy-Efficient Appliances

11. Check Options From Power Company

12. Get Caulking

Tips for Saving Money on Your Water Bill

13. Develop Water-Saving Habits

14. If You Have a Dishwasher, Use It

15. Use Less Water When Flushing

16. Master the Art of Washing Clothes

17. Keep an Eye out for Leaks

18. Install Water-Saving Showerheads and Faucets

19. Run Your Appliances at Night

10 Cheapest Electric Cars in 2023

1. 2023 Chevrolet Bolt EV

2. 2023 Nissan Leaf

3. 2023 Chevrolet Bolt EUV

4. 2023 Hyundai Kona Electric

5. 2023 Mini Cooper SE Electric Hardtop 2 Door

6. 2023 Volkswagen ID.4

7. 2023 Kia Niro EV

8. 2023 Hyundai IONIQ 5

9. 2023 Toyota bZ4X

10. 2023 Subaru Solterra

A Note on the Most Affordable EVs of 2023

How Electric Car Tax Credits Work

Military Discounts on Electric Cars

How Much Does It Cost to Own an Electric Car?

Federal Tax Credits

Maintenance Costs

Insurance Costs

Charging Costs

What Is Mystery Shopping?

How Do You Get Started as a Mystery Shopper?

Qualities of a Good Mystery Shopper

How Much Money Can You Get Paid for a Mystery Shopping Job?