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  • The Ultimate Guide to 14 of the Best TV Streaming Services

    The Ultimate Guide to 14 of the Best TV Streaming Services

    With streaming services growing in popularity, many companies are offering their own version.

    Whether you’re cutting ties with cable or trying to supplement your current service, you want to find what works with your budget and personal taste.

    You can’t subscribe to them all, so which do you pick?

    Don’t worry. We’ve compared 14 of the most popular streaming services on the market so you don’t have to.

    How Are All the Streaming Services Different?

    Do you like classic TV shows like Friends or would you rather be captivated by a new show like Severance? Do you want to be romanced by Bridgerton or laugh with the Belchers in Bob’s Burgers?

    A lot of the streaming services run different promotions that cut the cost, but what about the services themselves and their content?

    The platforms that are home to these shows each have their own catalog, unique features and price tags. Your reasons for picking one or the other may include original content, classic show selection, live streaming capability, affordability or some combination of all.

    You could always check out our list of free tv apps, but keeping up with the latest TV show to storm the internet sometimes takes a subscription.

    Get your favorite movie snack ready and read the pros and cons to decide which platform is right for you.

    Streaming Services at a Glance

    Service Base Monthly Rate Trial Period Number of Screens Best For
    Hulu $7.99 30 days 2 Seeing shows the day after they ai SEE DETAILS
    Netflix $6.99 None Up to 4 Original programming SEE DETAILS
    Amazon Prime Video Free w/ membership; $8.99/month without 30 days 3 X-ray feature SEE DETAILS
    YouTube TV $64.99 Promotions vary 3 Live TV SEE DETAILS
    Disney+ $7.99 None 4 Disney & Marvel content SEE DETAILS
    Paramount+ $4.99 7 days 3 Crime dramas SEE DETAILS
    Sling TV Some content free; $40 or $55 packages Promotions vary 1 to 3 Low-cost, live TV SEE DETAILS
    Peacock Some content free; $4.99 or $9.99 packages Promotions vary 3 Sampling SEE DETAILS
    Apple TV+ $6.99 7 days 6 Apple users SEE DETAILS
    AMC+ $6.99 or $8.99 7 days 5 Horror SEE DETAILS
    The CW Free None N/A DC content SEE DETAILS
    STARZ $8.99 Promotions vary 4 Starz historical dramas SEE DETAILS
    Showtime $10.99 30 days n/a Cheaper sports option SEE DETAILS
    HBO Max $9.99 None (has free episodes) 3 New release movie streaming SEE DETAILS

    Take Your Pick of 14 Streaming Services

    We have assessed 14 streaming services, including pricing and content focus, so you can pick the one that’s right for you.

    Why Choose Hulu

    How much: One-month free trial. Plans start at $7.99 per month for limited commercials, $14.99 per month for no commercials and $69.99 per month for an ad-supported Hulu + Live TV with Disney+ and ESPN+. HBO Max, Showtime, Cinemax and Starz are available as add-ons. Students can get the $7.99/month plan for a discounted $1.99/month with verified enrollment.

    Available on: Laptops and desktops, phones, tablets, game consoles, smart TVs, Blu-ray players, and streaming media players such as Roku and Amazon Fire Stick.

    You can add as many different devices as you want to your account, but you can only stream to two at a time (Live TV subscriptions have an unlimited screen add-on). If you’re out of the house, you can stream from up to three mobile devices at once.

    Biggest Pro: Episodes of some current TV shows are available the day after they air.

    Biggest Con: Less breadth and depth of programming comparatively.

    Best for: Viewers who watch a lot of current U.S.-based TV programming and want to see episodes they’ve missed as soon as possible.

    Why Choose Netflix

    How much: Three plan options beginning at $6.99 per month up to $19.99 per month, depending on the number of devices and type of HD you want. Ad-free plans start at $9.99 per month.

    Available on: Laptops and desktop computers, phones, tablets, game consoles, smart TVs, Blu-ray players and streaming media players such as Roku and Amazon Fire Stick.

    You can add as many different devices as you want to your account and stream content to up to four at a time, depending on the plan you choose.

    Biggest Pro: Netflix has tons of original programming.

    Biggest Con: Available seasons of currently-airing TV shows are usually at least a year old, so prepare to avoid spoilers for a long time.

    Best for: Viewers who like a lot of original content choices across a variety of genres.

    Why Choose Amazon Prime Video

    How much: 30-day free trial. Free with an eligible Amazon Prime membership or $8.99 per month. Premium channels like HBO and Showtime are available for an additional monthly charge.

    Available on: Laptops and desktop computers, phones, tablets, game consoles, smart TVs and streaming media players such as Roku and Amazon Fire Stick.

    You can stream on up to three devices at a time.

    Biggest Pro: Prime Video’s X-ray feature lets you access actor bios, background information, trivia, bonus content, music info and other show-related information.

    Biggest Con: It’s sometimes difficult to determine what content is included in your subscription and what costs extra.

    Best For: People who already have an eligible Prime Membership.

    Why Choose YouTube TV

    How much: YouTube TV usually offers a free trial, and the base plan is $64.99 per month. There is also a Spanish plan for $34.99 per month.

    Available on: Laptops and desktop computers, phones, tablets, game consoles, smart TVs, streaming media players and Google Nest Hub.

    You can have up to six profiles on your plan and stream on up to three devices at the same time.

    Biggest Pro: You’ll have plenty of shows to choose from with more than 100 channels, plus you get unlimited cloud DVR storage for free.

    Biggest Con: There’s no option for ad-free viewing. You can pause or DVR to fast forward through ads, but they’re still there.

    Best For: Those who still want a live TV experience without the cable cost.

    Why Choose Disney+

    How much: If you opt for Disney+ Basic, which includes ads, you’ll pay $7.99 per month. You can also opt for Disney+ Premium (no ads) for $10.99 per month or $109.99 per year.

    Available on: Laptops and desktop computers, phones, tablets, game consoles, smart TVs and streaming media players such as Roku and Amazon Fire Stick.

    Disney+ subscribers can have seven profiles on one account with four devices streaming at once.

    Biggest Pro: You get the majority of the Disney library all in one place, plus the Marvel and Star Wars franchises.

    Biggest Con: Premier Access, the option to watch a new release movie early, is expensive at $30.

    Best For: Disney and Marvel lovers of any age.

    Why Choose Paramount+

    How much: 7-day free trial. You can get the Essential plan for $4.99 per month or $49.99 per year. Upgrade to Premium for no ads and pay $9.99/month or $99.99/year. Paramount+ also has an optional Showtime add-on. Verified college student accounts get 25 percent off an Essential monthly subscription.

    Available on: Laptops and desktop computers, phones, tablets, game consoles, smart TVs and streaming media players such as Roku and Amazon Fire Stick.

    You’ll get three simultaneous streams and six profiles.

    Biggest Pro: You get early access to Paramount movies.

    Biggest Con: The library is limited to CBS and Viacom programs.

    Best For: Fans of classic crime dramas like NCIS or CSI, Trekkies and kids who can’t get enough of Paw Patrol.

    Why Choose Sling TV

    How much: You can check out Sling TV at no cost with its free option. To unlock more content, you can subscribe to either the Orange and Blue base plans for $40 per month, or combine both options for $55 per month. You can then add extras or Premium features for an additional cost.

    Available on: Laptops and desktop computers, phones, tablets, Xbox, smart TVs and streaming media players such as Roku and Amazon Fire Stick.

    The number of screens that can stream at once depends on the plan. Orange only streams on one device, while Blue and the combination plan can stream on three.

    Biggest Pro: It’s the most budget-friendly of the live TV options.

    Biggest Con: It has the least amount of available channels compared to competitors.

    Best For: People who want live TV without the high cost.

    Why Choose Peacock

    How much: Peacock’s base plan is free. Unlock the entire Peacock library with the Premium plan for $4.99 per month and ditch (most) ads with Premium Plus at $9.99 per month.

    Available on: Laptops and desktop computers, phones, tablets, game consoles, smart TVs and streaming media players such as Roku and Amazon Fire Stick.

    You can stream on up to three devices at a time.

    Biggest Pro: The free version allows you to try out the service before committing to a subscription.

    Biggest Con: Only select episodes of shows are included in the free version.

    Best For: People who like to sample shows before binging.

    Why Choose Apple TV+

    How much: You can try the 7-day free trial, then pay $6.99. If you use other Apple services, you can choose the Apple One bundle to get Apple TV+, Apple Music, Apple Arcade and 50 GB iCloud storage starting at $14.95/month. If you purchase a new Apple device, you’ll get an extended 3-month trial.

    Available on: iPhone, iPad, Mac, smart TVs, game consoles, streaming media players and Amazon Fire devices.

    Apple TV+ allows a single account to stream six devices at once.

    Biggest Pro: At $4.99/month, it’s one of the cheaper options available. Also, Apple TV+ is focusing on producing quality original content, like CODA, the first direct-to-streaming film to win an Oscar.

    Biggest Con: The downside of a focus on original content means that the Apple TV+ library is limited compared to competitors.

    Best For: Apple product users and those who want to focus on quality programming.

    What About Channel Specific Services?

    The majority of channels now have their own streaming services, but combining them all can get expensive as cable. Is it worth it to have a specific channel? That depends on your tastes.

    Why Choose AMC+

    How much: You can try 7 days free, then AMC+ costs $6.99 to $8.99 per month, depending on where you sign up for subscription. Subscribing through AMC directly also has an $83.88 per year option. AMC+ includes content from AMC, IFC and IFC Films Unlimited, BBC America, SundanceTV, Sundance Now and Shudder.

    Available on: Laptops and desktop computers, phones, tablets and smart TVs. If you subscribe to AMC+ through another service, you’ll have to access AMC+ through that provider’s app.

    Direct subscribers can stream on up to 5 devices at once.

    Biggest Pro: Subscribers get early access to some select AMC shows.

    Biggest Con: The app isn’t very user friendly and needs some work.

    Best For: The catalog is great for fans of horror and AMC-specific content.

    Why Choose The CW

    How much: The CW app is free.

    Available on: Laptops and desktop computers, phones, tablets, Xbox One, smart TVs and streaming media players such as Roku and Amazon Fire Stick.

    Biggest Pro: It’s free and requires no account or subscription.

    Biggest Con: No subscription means you don’t get the usual features like watch lists.

    Best For: Fans of DC and dramas like Riverdale.

    Why Choose STARZ

    How much: Starz is $8.99 per month. The service also usually runs sign-up promotions that give you a discount off your first few months.

    Available on: Laptops and desktop computers, smartphones, streaming media players, Xbox and smart TVs.

    You can stream on up to four devices at a time.

    Biggest Pro: Starz has a large library of popular dramas and blockbuster movies.

    Biggest Con: The Starz app is lacking compared to competitors.

    Best For: Fans of Starz historical dramas like The White Princess and Outlander.

    Why Choose Showtime

    How much: 30-day free trial, then the service is $10.99 per month or $99 per year.

    Available on: Laptops and desktop computers, smartphones, tablets, smart TVs, game consoles, streaming media players, Oculus and Facebook Portal TV.

    You can stream on up to three devices at a time.

    Biggest Pro: There’s a good selection of quality shows.

    Biggest Con: Its library is smaller compared to competitors.

    Best For: Those who want sports selections without the live TV price tag.

    Why Choose HBO Max

    How much: The ad-supported plan is $9.99 per month or $99.99 per year. Ditch the ads for $14.99 per month or $149.99 per year. HBO Max offers a selection of free episodes instead of a timed free trial.

    Available on: Laptops and desktop computers, smart TVs, tablets, smartphones and game consoles.

    Biggest Pro: Get access to an impressive library of popular shows like Friends and Game of Thrones and stream Warner Bros movies 45 days after their theatrical release.

    You can stream on up to three devices at once.

    Biggest Con: The ad-free version is one of the more expensive monthly options.

    Best For: People who want access to the most popular movies, series and shows.

    What Are Some Other Streaming Options?

    We’ve covered the big ones, but there are other streaming services out there. Xumo, Pluto, fuboTV and Tubi TV are all free, ad-supported options that offer Live TV. Philo TV offers dozens of live, streaming and on-demand channels for $25 per month.

    If you or your kids are a fan of anime, you can stream free programs through merging services Crunchyroll and Funimation.

    Choosing Streaming Services

    With so much variety between streaming services, it’s hard to say which one is the winner.

    Should you prioritize cost, live tv options, quality of content, timeliness of release or even number of screens?

    It just comes down to preference. However, you can easily take advantage of some of the free trials offered by many of the best TV streaming services. Just make sure you set a reminder for the end of the trial so you can cancel if it’s not the one for you.

    Frequently Asked Questions (FAQs) About Streaming Services

    We’ve rounded up the answers to the most commonly asked questions about streaming

    Which Streaming Service is Free?

    There are several free options with Sling TV, Peacock, The CW, Zumo, Pluto, fuboTV and Tubi TV. Amazon Prime Video is free with a Prime subscription, which costs $14.99 a month or $139 a year.

    What is a Streaming Service?

    Streaming services provide entertainment such as music or movies through internet connection so you can access content immediately. The programming includes old and new movies, documentaries, original programming plus current and old network dramas and sitcoms.

    What is Required for a Streaming Service?

    To stream content, you’ll need an internet connection and a device capable of internet access. Those devices can include smartphones, tablets, laptops or even game consoles. Depending on the service, you might also need an account or credit card.

    Do I Need a Smart TV to Stream?

    No. You can use any device with an internet connection, such as phones, tablets, laptops or even game consoles to stream programming. 

    Contributor Jenna Limbach writes on financial literacy and lifestyle topics for The Penny Hoarder. Freelancer Cat Hiles contributed to this post. 


    jlimbach19@gmail.com (Jenna Limbach)

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  • Can You Say Free Days? How to Visit National Parks on a Budget

    Can You Say Free Days? How to Visit National Parks on a Budget

    National parks offer an affordable way to experience some otherworldly places without leaving the country and, with thousands of trails to hike, rivers to kayak and lakes to swim, they allow you to enjoy a socially distanced vacation experience that is all outdoors.

    Since the start of COVID-19, I’ve pivoted my travel away from international flights and indoor museums to the deep waters of Biscayne in Southern Florida, the snowy peaks of the Tetons of Wyoming and the remote precipices of Acadia in Maine. In 2022, I added 14 more national parks to my list during a road trip out West — and all of them on a tight budget. Even as we return to normalcy, the parks offer an appealing, budget-friendly way of seeing the world.

    To date, the National Park System maintains 63 official national parks, but the federal agency also oversees national battlefields, national monuments, national reserves and more. The NPS sites number 423.

    One of the best parts of traveling to our national parks is how budget-friendly this kind of trip can be (your tax dollars at work, ladies and gentlemen). And in the era of COVID-19, a year of regularly canceled flights, and rising inflation, traveling on a shoestring budget to a national park might be one of the safest and most affordable ways for many of us to get out of their own homes.

    Because there are so many National Park Service sites, you might be able to plan a trip without getting on a plane, a definite cost savings for a family and likely less stressful.

    Just make sure you’ve signed up for a gas rewards program to save on fuel; gas prices are quickly becoming the most expensive part of a national park road trip.

    Pro Tip

    Before booking, find out if a park has restrictions due to wildfires, flooding, late-season snow or other natural events. The National Park Service site is the best resource for monitoring alerts.

    Here are our best tips for exploring the national parks on a budget for your next family road trip.

    How to Visit for Free

    What’s better than traveling for free? Here’s how to visit all the national parks with no entrance fee:

    Visit on Free Days

    Each year the NPS offers free entrance days, meaning you can visit any of the national parks without paying an entrance fee. For 2023, the dates include:

    • Jan. 16 (Martin Luther King, Jr. Day)
    • Apr. 22 (first day of National Park Week)
    • Aug. 4 (anniversary of the Great American Outdoors Act)
    • Sept. 23 (National Public Lands Day)
    • November 11 (Veterans Day)

    You can check all free days on the NPS site each year.

    Pro Tip

    The parks will be crowded on free days, especially during the summer. If you’re going to a popular parks, expect a far less secluded experience at major hiking trails and park overlooks.

    Find a Free Park

    Many national parks don’t charge admission. Here is the list of free national parks:

    • Biscayne National Park (Florida)
    • Channel Islands National Park (California)
    • Congaree National Park (South Carolina)
    • Cuyahoga Valley National Park (Ohio)
    • Gates of the Arctic National Park and Preserve (Alaska)
    • Glacier Bay National Park and Preserve (Alaska)
    • Great Basin National Park (Nevada)
    • Great Smoky Mountains National Park (North Carolina and Tennessee)
    • Hot Springs National Park (Arkansas)
    • Katmai National Park and Preserve (Alaska)
    • Kenai Fjords National Park (Alaska)
    • Kobuk Valley National Park (Alaska)
    • Lake Clark National Park (Alaska)
    • Mammoth Cave National Park (Kentucky)
    • National Park of the American Samoa (American Samoa)
    • North Cascades National Park (Washington)
    • Redwood National Park (California)
    • Virgin Islands National Park (Virgin Islands)
    • Voyageurs National Park (Minnesota)
    • Wind Cave National Park (South Dakota)
    • Wrangell-St. Elias National Park (Alaska)

    For years, America’s most visited national park, Great Smoky Mountains National Park, which is in both North Carolina and Tennessee, has been free to enjoy. However, in 2023, the park is raising camping fees and implementing a paid parking pass system. While you can still drive through the park for free, you’ll need a tag on your motor vehicle if you intend to park anywhere (for more than 15 minutes) and explore the outdoors. The system goes into effect on March 1, 2023, and costs:

    • $5 for the day
    • $15 for up to seven days
    • $40 a year
    Getty Images

    Of the 10 most visited national parks (2021 is most recent data), however, eight charge entry fees:

    • Zion National Park (Utah)
    • Yellowstone National Park (Idaho, Montana and Wyoming)
    • Grand Canyon National Park (Arizona)
    • Rocky Mountain National Park (Colorado)
    • Acadia National Park (Maine)
    • Grand Teton National Park (Wyoming)
    • Yosemite National Park (Washington)
    • Indiana Dunes National Park (Indiana)
    • Glacier National Park (Montana)

    Absent from 2021’s list are Olympic and Joshua Tree, both of which charge an entrance fee and both of which were among the top 10 most visited in previous years. As attendance patterns change, these western parks could mean more adventure with fewer crowds.

    Note: Yellowstone closed in summer 2022 at the peak of tourist season due to historic flooding. Impending data in early 2023 analyzing 2022 visitation will likely reflect this unexpected closure.

    Get a Free Military Pass

    The National Park System awards a free annual Military Pass to all U.S military personnel and their dependents. That includes members of the military community from the Army, Navy, Air Force, Marines, Coast Guard (now part of Homeland Security) and Space Force, plus members of the Reserve and National Guard.

    The free Military Pass also applies to U.S. military veterans and Gold Star family members. The surviving immediate family members of service personnel who have been killed in conflict are awarded Gold Star status.

    n December 2021, free lifetime access to National Park Service sites for military veterans was cemented into law as part of the National Defense Authorization Act.

    A free Military Pass to national parks can be obtained in person at any federal recreation site that sells passes or ordered online via the USGS Store. The USGS store also lists the sites where the Military Pass can be obtained. To get the pass, you will need to provide a Common Access Card (CAC) or Military ID or exchange your Gold Star Voucher.

    Military Passes aren’t the only free annual passes offered by the NPS, but they are the most common. In the next section, we’ll discuss the benefits of purchasing an annual pass and how to get one for free.

    Annual Passes

    If you regularly visit amusement parks like Disney World or Cedar Point, it makes sense to buy a pass. National parks operate under the same guidelines. If you’re a regular visitor, you’ll save money by going the annual pass route.

    Consider America the Beautiful Passes

    An America the Beautiful annual pass gets you into more than 2,000 federal recreation sites, including the 63 national parks, for just $80 a year.

    If you intend to visit a handful of parks that charge an entry fee in a given year (or if you plan to return to your favorite park multiple times, perhaps to see how it changes with the seasons), save money by purchasing one of these passes.

    In 2022, my family saw 14 national parks plus various national recreation areas, all with a single $80 pass purchase.

    Check for Discount Eligibility

    The NPS offers several discounted passes:

    • Current U.S. military members and their dependents qualify for a free annual pass (see Military Pass section).
    • Fourth-graders qualify for an Every Kid Outdoors pass for free entry from September to August of the following year.
    • Senior citizens can purchase discounted annual passes for $20 a year or spend $80 for a lifetime pass.
    • People with permanent disabilities are eligible for a free Access pass that also includes discounts on some amenities, like 50% off lodging in the park.

    Volunteer and Part-Time Work

    If you aren’t eligible for one of the free or discounted passes mentioned above, you can roll up your sleeves and do some hard work to earn free entry — and make the world a better place along the way.

    To get a one-year pass (valid from the date of issue), you’ll need to log 250 service hours with one or more federal agencies that participate in the Interagency Pass Program. Learn more by visiting the official government volunteer site.

    If you’re looking for a part-time, seasonal side gig, the national parks offer positions in their retail shops, dining and accommodation facilities, maintenance services and recreational and educational programs. In your free time, you can explore whichever facility that you are assigned to — for no cost.

    Often, employment includes accommodations. There are special considerations for students and people 55 and over. Here are more details about part-time work through the NPS.

    Also, Cool Works: Jobs in Great Places lists part-time, seasonal gigs at the National Parks, among other jobs.

    A couple camp in a park.
    Getty Images

    Tips for Finding Affordable Lodging

    Other than transportation (your flight, rental and especially gas), lodging is likely to be your biggest expense for a national parks trip, since most of the recreation is free. Here are our best tips for lodging during a national parks road trip:

    Stay Outside the Park

    Whether you have an annual pass or a pass that affords you entry for a week, you can save money by finding lodging outside of the actual borders of the national parks. While the lodges available in some of the parks are breathtaking and waking up inside the park can save you valuable time (especially when wildlife run-ins can lead to serious traffic jams) in the mornings and evenings, they are way too expensive and can be challenging to book due to popularity.

    On a long trip, treat yourself to one or two nights in a lodge, but otherwise, enjoy the basic amenities of a hotel or Airbnb outside of the park for serious savings.

    Pro Tip

    On a long trip, treat yourself to one or two nights in a lodge, but otherwise, enjoy the basic amenities of a hotel or Airbnb outside of the park for serious savings.

    Camp Inside the Park

    There is an exception to every rule. If you are comfortable with public showers (or no showers!) and less-than-five-star sleeping arrangements, I highly recommend camping inside a national park.

    Not only is camping significantly more affordable (in popular parks, you can camp for as little as $25 a night), but it’s also an incredible way to become one with the very park you are exploring. To experience the sounds and the stars of the park at night: It’s a truly magical experience for outdoor enthusiasts.

    Check out The Penny Hoarder primer on camping on a budget.

    Tips for Getting Around

    Walking can save you money during your national parks trips — and in more ways than one.

    Enter on Two Feet (or Wheels)

    Many national parks charge an admission fee per vehicle when you enter on wheels (and this fee typically covers a week of reentry), but you may also have the option to pay a per-person cost when entering on foot. If you’re traveling solo or with a partner, the cost to enter on foot may be cheaper than by car.

    All you have to do is park outside the park and walk through the gate. Most park systems have an extensive network of connected trails, meaning you can get to hiking as soon as you enter on foot.

    Parks typically charge cheaper entry fees for motorcyclists as well. Bicyclists can expect to pay the same discounted rate as pedestrians.

    Take a Hike

    Speaking of hiking, this is the single greatest way to keep your budget low during your national parks road trips. Skip the tourist traps that are sometimes nearby national parks, and instead spend your days hiking the thousands of miles of trails that the U.S. has set aside for your enjoyment. You’ll get plenty of exercise, and Mother Nature won’t charge you a dime.

    Other outdoor adventures include biking, kayaking and canoeing, but the cost of rentals inside the park can add up. If you own a kayak or bike and have an easy way of transporting it into the park, you will save significant money over paying to rent these vehicles at a marina, lodge or shop.

    Utilize Free Shuttles

    Some parks offer shuttle systems. While there’s less freedom in exploring by shuttle, you won’t have to worry about fighting for a parking spot, and designated drivers can take in the beauty along the way that they’d otherwise miss out on.

    Zion National Park famously shuts down its Zion Canyon Scenic Drive for most of the year, meaning visitors have to use its shuttle system to get to the trailheads. Even better, the town outside Zion (Springdale) has a town shuttle that takes you right to the visitor center, where you can transfer to the park shuttle.

    Planning Ahead

    A little planning goes a long way when traveling. In addition to making reservations in advance for discounts and coordinating around free entry days, you should also consider these trip-planning tips:

    Bundle Up the Parks

    You could spend weeks at a single national park and still not see it all. However, if you’re flying, renting a car or driving your own vehicle, research what other national and state parks are nearby. For example, if you live in northern Ohio and are heading down to Great Smoky Mountains National Park, consider two more stops along the way at Cuyahoga Valley and Mammoth Cave (both free, though you’ll pay to tour the caves at the latter!) — and then you’ll knock out three parks in one trip.

    Other common combos include Yellowstone and Grand Teton; the Olympics, North Cascades and Mount Rainier; Zion, Bryce Canyon, Capitol Reef, Canyonlands and Arches (called Utah’s Mighty Five); and Mesa Verde, Great Sand Dunes, Black Canyon of the Gunnison and Rocky Mountain.

    Consider National Monuments, State Parks and More

    While national parks are the gold standard of American road tripping, the country has so much more to offer, from national lakeshores and historic sites to recreation areas and parkways. Many of these are free, and even those that carry a cost may be covered by your annual pass.

    Rather than travel wide distances to see multiple national parks, consider focusing on one or two national parks and fitting in nearby seashores, memorials and other landmarks in between.

    Pack Your Own Meals and Snacks

    Dining out can eat into your budget — and your time — on any trip. While every vacation merits a little bit of treat-yourself dining at a fancy restaurant, national park trips lend themselves to fun picnics during longer hikes and cheap meals over a campfire.

    Pack a large cooler, and your dining budget quickly drops from $150 for a single dinner for four at a lodge restaurant to $150 for ice, bread, lunchmeat, fruits and veggies, chips and water for a whole week.

    And don’t forget to pack trash bags so you don’t leave waste behind.

    People eat food during a hike.
    Getty Images

    Do Your Homework First

    Increasingly, some parks are turning to timed entry reservations; no “walk-ins” allowed. Before flying out on your trip, make sure you’ll actually be able to enter the park at your destination. As of now, several parks are implementing this system during the busier summer months, including Arches and Rocky Mountain.

    While not a timed entry, Zion is now implementing a lottery system for its most famous hike, Angels Landing. Cliff dwelling tours at Mesa Verde, sunrise access at Haleakalā National Park, and Cadillac Mountain access at Acadia also require advanced reservations.

    Visit the individual park pages on nps.gov to see if your destination park is requiring a reservation; you will make reservations on recreation.gov. These reservations require (small) nonrefundable fees.

    Timothy Moore covers banking and investing for The Penny Hoarder from his home base in Cincinnati. He has worked in editing and graphic design for a marketing agency, a global research firm and a major print publication. He covers a variety of other topics, including travel, insurance, taxes, retirement and budgeting and has worked in the field since 2012.


    tmoorefreelance@gmail.com (Timothy Moore)

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  • How to Get a Share of a $2M 1940 Batman Comic Book

    How to Get a Share of a $2M 1940 Batman Comic Book

    Ever wanted to cash in on nostalgia?

    Vintage and cultural collectibles have long been a pastime and earning opportunity for hobbyists and folks with quirky interests and cash to spare. In recent years, collectibles have become an attractive asset class for creative investors, as well.

    But it’s always been a tough market to break into — collectibles tend to be pricy to acquire because of the resources needed to find and store them, on top of their high asking prices.

    Now anyone can take advantage of alternative investments through an app called Rally Rd., which lets you buy and sell shares of everything from Pokemon cards to Ford Mustangs to even shares of a first edition 1940 DC Comics Batman comic book. These days, the app is going by just Rally, though Rally Rd. is the official name.

    Rally Rd. Investment App

    Best for Active Traders

    Key Features

    • Commission-free alternative investing
    • Buy shares of collectible assets and NFTs
    • Live secondary trading

    Rally is an app that lets you buy shares in alternative assets like comic books, cars, trading cards and other collectibles. Through the app, you can browse collections and see each asset’s value, share price and number of shares, plus specs about what makes it valuable. You can invest with no commissions and no hidden fees, then sell shares or buy more through registered brokers.

    Rally Rd. Investment App

    Opening an account

    $0

    When assets can be resold

    Five days after purchase

    Fees

    No commissions or fees

    Trading times

    Monday through Friday, excluding standard stock market holidays, from 10:30 a.m. to 4:30 p.m. eastern time.

    What Is the Rally Investment App?

    Rally is a platform for the web, iOS and Android that lets you buy and sell equity shares of collectible items, including sports memorabilia, books, comics, classic cars, NFTs — even Pokemon cards.

    Launched in 2016 as Rally Rd., the app initially focused on buying and selling equity shares in classic cars and has since expanded to offer collectibles from wine to guitars.

    Buying and trading collectibles is a way to add diversity to your investment portfolio and operate outside of the fluctuations of public stock exchanges. By trading equity shares through an app like Rally, you may be able to tap into this market with significantly less risk, because investments are SEC-regulated and you don’t have to put up as much money to get started.

    Collectibles tend to act differently than the stock market, so they’re attractive for active investors during times of market volatility, inflation or recession. However, collectibles — by definition — tend to be rare or one-of-a-kind assets, so it’s difficult to determine trends in their value and safely predict whether they’ll make or lose money.

    How Does Rally Work?

    Rally acquires collectible assets and makes them available for investors and traders through the app.

    You don’t have to scour auctions to nab rare finds or fork over thousands of dollars to own valuable collectibles. Rally handles sourcing, authentication and acquisition from collections around the world. It securitizes the assets and splits them into equity shares, so you can incorporate these collectibles into your portfolio for just a few dollars a share.

    You can also sell your shares to other buyers through live trading in the app by making them available with partner broker-dealers. Other buyers can place bids, and the app’s algorithm matches your offer with the best deal to sell your share.

    Rally occasionally sells assets, and you’ll get paid for your shares if that happens. But, in general, Rally holds onto assets for the long term, and your best way to make money through the app is through live trading.

    Your investments through Rally are funded by a connected bank account, and you can withdraw earnings into the same account anytime.

    3 Steps to Investing With Rally

    1. Create an account through the iOS or Android app or online.
    2. Invest in an asset during its initial offering and/or make bids on the secondary market.
    3. List your shares for sale as “ASKs” to be matched with buyers.

    Rally requires active trading, so it’s not a good fit if you’re looking for an automated or passive investment app. It doesn’t include options to automate deposits or investments, so this isn’t a set-it-and-forget-it platform for your long-term savings.

    How Rally Invests Your Money

    Rally sources assets poised to rise in value by considering rarity, significance, history, originality, value, condition and other data-driven factors. It doesn’t lean on any single aesthetic but instead purchases a variety of collectibles to offer assets that’ll appeal to various tastes and financial goals.

    Through the app, you’re in control of where your money goes and when to buy or sell assets.

    You can invest in an assets initial offering or make bids to purchase shares on the secondary market 90 days or more after an initial offering. You don’t have to wait for Rally to sell an asset; you can cash in or reduce your exposure anytime by listing your shares for sale through an ask.

    Rally Fees

    Rally doesn’t charge commissions on trades or management fees on your holdings in the app. Instead, it makes money by taking a sourcing fee that’s included in an asset’s initial offering price — which means no additional fees for you. You’ll be aware of the sourcing fee for any offering you invest in, but you won’t pay a fee on top of your investment price.

    Rally Customer Service

    You can contact Rally anytime via email at [email protected] or via text at 347-952-8058. You might also get your questions answered by browsing  the platform’s FAQ page.

    Pros and Cons


    Pros

    • Diversify your portfolio with alternative investments in collectibles.
    • Benefit from valuable collectibles without the huge upfront cost or work.
    • No commissions on trades or account management fees.


    Cons

    • No automated investment opportunities.
    • The company doesn’t sell assets; you earn primarily through active trading.
    • Investing in real assets comes with inherent risk.

    Frequently Asked Questions (FAQs) About Rally

    There are a lot of questions about this interesting investment app and we’ve got the answers to the most commonly asked questions.

    Is Rally Rd. a Good Investment?

    Rally lets you invest in collectible assets, from classic cars to trading cards. The company doesn’t make any claims about returns you can expect by trading on the app, and investing in real assets comes with unique risks you won’t face in the stock market. However, it can add diversity to your portfolio and reduce your exposure to the volatility of the stock market during times of recession or inflation that could hurt traditional investments.

    Rally is an investment platform where you can buy, sell and trade equity shares of collectible assets, like classic cars, wine, trading cards and comic books. The company’s purpose is to source collectibles and facilitate trading by securitizing and splitting assets into equity shares you can buy and sell on its platform. It carries similar risk to any collectible investing, but you can mitigate risk by spreading your investments across assets instead of betting a lot on a single item.

    Can You Make Money on the Rally App?

    Investing of any kind comes with the possibility of earning money and the risk of losing money. Rally facilitates trading so you can invest in initial offerings of collectible assets and sell or buy more on the secondary market through the platform. You earn money by selling shares worth more than you paid for them; Rally doesn’t typically liquidate assets in the short term.

    How Do You Trade on Rally?

    In the app, you can buy and sell shares of collectibles that Rally has acquired. Anyone can purchase shares during an asset’s initial offering. After 90 days, sellers can make those shares available through “ASKs,” and buyers can place a “BID” for assets they want to purchase. The app matches sellers and buyers and executes sales daily.

    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 Larissa Runkle contributed to this report. 


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

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  • Here’s What You Need to Know to Start a Food Business From Your Home

    Here’s What You Need to Know to Start a Food Business From Your Home

    Amid the pandemic, some out-of-work people have started food businesses in their homes, using handwritten flyers and Instagram accounts to advertise their wares.

    These underground businesses can supplement income in uncertain times, but they’re often operating in a legally gray area, and that could lead to fines from local health departments. Going legit takes time, but it can help scale your food business from underground sales to farmer’s markets, online marketplaces or local stores.

    While every state treats home-based food businesses a bit differently, here’s what you’ll need to look into to take the next steps with your food business.

    Check State and Local Laws

    When I opened my small-batch confectionary in Massachusetts, I needed to have my apartment kitchen certified as a Retail Residential Kitchen. The application process was time-consuming: I had to read the entire federal food code, become ServSafe certified in food handling, describe the items I planned to make and how they’d be processed and packaged, and have my kitchen inspected (I sweated this one, but I passed).

    This process is likely different for every state in the country. Search “retail residential kitchen for (name of state) to find the regulations for your location.

    Massachusetts law only allows for home production of foods that don’t require hot or cold holding. Baked goods, jams and bread are fine, but pizza doesn’t pass. Cut tomatoes aren’t allowed, so a home-based salsa business is a no-go.

    Massachusetts tends to be a bit draconian in its laws; had I started my home-based cooking business in New York, where I live now, I wouldn’t have had to get my kitchen certified or inspected. (New York only inspects if complaints are made.)

    New York offers an expansive list of approved and banned foods that’s worth examining closely for its inconsistencies. While you can repackage dried pasta, you can’t make or dry your own pasta. While cakes and cookies are OK, custom cakes and cookies for weddings or special events are prohibited.

    Cottage laws in Texas are even looser. Texans can make baked goods, jams, pickles, coffee and tea with no license required and no need to observe the Texas Food Establishment Rules, and the state’s Health Department can’t inspect home kitchens.

    Some areas, like King County, Washington, don’t allow any sales of home-prepared foods. If you face those restrictions, look for a community kitchen space to rent, such as a commissary or church kitchen.

    State and local laws not only determine what you’re allowed to sell but what, if any, business licenses or permits you’ll need before you can legally sell home-prepared foods. States, including Texas and Massachusetts, require food safety training, such as ServSafe. New York requires a Home Processing License (which is free and takes about two weeks to receive). My Massachusetts residential kitchen permit allowed me to sell direct to consumers; to sell to stores would’ve required a wholesalers’ license.

    In addition to state laws, check local zoning regulations. You might not be able to have a home-based food business without a separate permit due to local zoning restrictions on home-based businesses. Or you might be allowed to operate a business so long as sales aren’t made onsite, with customers picking up from your home.

    This is the most exhausting step, but it’s critical that you do it first, so you don’t invest time and resources in dreaming up a side gig you can’t actually run where you live.

    Protect Yourself With Business Insurance

    Home food business insurance may or may not be required in your state, but it’s the smartest thing you can do to protect yourself from liabilities like allergic reactions or food contamination. While ideally, nothing will ever go wrong, food spoils even in professional kitchens and you need to protect yourself.

    Without insurance, you’d be on the hook for a hospital bill to cover an allergic reaction, which could damage your credit and empty your bank account pretty quickly. Liability insurance prevents a claimant from going after your personal assets in the event of an incident, and it’s pretty cheap: I paid $195 a year for a $2 million policy.

    Before buying separate insurance for your food business, make sure you understand whether any other insurance you currently purchase (such as renter’s insurance or homeowner’s insurance) will cover your home-based food business. You may be able to extend coverage through a rider and you’ll often get a discount by bundling insurance through your current provider.

    Invest in Supplies

    Most states require you to package, portion and label food for sale. That means a food scale (mine needed to pass inspection), labels, a printer and ink. Packaging might include bags, boxes, tins or jars, depending on your inventory.

    A local craft supply store is fine for times when you run out of packaging with a backlog of orders, but retail pricing eats into your margin significantly. Look for wholesalers to pare down your costs.

    Vending at markets means special market supplies: a table and chairs, market tent (with weights so it doesn’t blow away), sign or banner, cash box (and change), Square or another equivalent, display items and decor to showcase your wares.

    Yes, it’s more than you might think when you’re scrolling for Instagram inspo. How I did it on the cheap: thrift stores.

    Build a Sales Strategy

    Between social media, online marketplaces, and local outlets, there are more places to sell than you can probably handle as a new food entrepreneur. To avoid overwhelm, figure out where your business fits best.

    I started my confectionary pop-up style, gifting friends with goodies while I worked out my recipes. Once I was licensed, I put up an Etsy shop to test the market. My products were a hit for the wedding demographic and the holiday season. I expanded to local farmer’s markets, but the price point never worked for me. I’d spend half a day manning a booth where I’d sell out of an item one week, then sell none at the following market. I always had leftover inventory, which had a limited shelf life. With Etsy, it took seconds to renew a listing and I made the product to order.

    Pro Tip

    Think Etsy is the right platform for you? Check out our step-by-step guide to making money on Etsy.

    Food businesses are flexible, and there’s no one right path to profitability. With a better idea of what it takes to turn a home-based cooking business legit, you can earn more and worry less, while making changes along the way just like you would to a recipe you’ve made your own.

    Lindsey Danis is a contributor to The Penny Hoarder. Freelancer Kent McDill contributed to this report. 


    lindsey.danis@gmail.com (Lindsey Danis)

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  • How to Stop Impulse Buying: 12 Ways to Quit Mindless Shopping

    How to Stop Impulse Buying: 12 Ways to Quit Mindless Shopping

    Are you prone to impulse buying?

    Have you given in and made random, unnecessary purchases that eat into your potential savings without forethought?

    That could be why you can’t seem to recall what happened to that $20 bill in your wallet or how your budget got so off balance.

    Impulse buys add up — your morning $6 Starbucks pick-me-up, the stylish $30 bag you saw and just had to have during your Target grocery run, the $5 cookies you bought from the Girl Scouts — it’s a good cause, right? — and the $9 you spent at Chipotle when you decided to grab a burrito on the way home because you’re too tired to cook.

    Before you know it, you’ve spent $50 over the course of the day on impulse buys. It happens to the best of us.

    Retail marketers are trained in sneaky tactics that influence our urge to buy. Our personalities and moods can also lead to impulse shopping — retail therapy is real. In an article in Psychology Today, public health specialist Elana Sandler wrote that retail therapy can be a beneficial way to feel renewed, especially in difficult times.

    No matter your trigger, it’s important to become more conscious of your spending habits. Imagine how much better off your finances would be if you saved every penny you mindlessly spent on stuff you don’t really need.

    How to Stop Impulse Buying

    Find yourself getting sucked into frivolous spending? Here is some practical advice you can put into action to keep more money in your wallet.

    1. Get Serious About Your Budget

    Have a clear picture of your finances and review them monthly, if not weekly. Everyone can use a little help or motivation with budgeting, and there’s an app for that. Or, use the cash envelope method to help stick to the budget you’ve set. When you have defined financial goals and a budget to match, impulse buys will be harder to justify.

    Unless you have the self-discipline of a monk, there are going to be times when you want to indulge just a little bit. A budget that only covers basic life essentials? Not fun. Add room in your budget for discretionary spending. That way you can make those random purchases without feeling guilty.

    2. Set a Goal That Inspires You to Avoid Spending

    All those little impulse buys can drain your savings or leave you paying off debt instead of enjoying what you love. Maybe that’s a much-needed vacation. Then plant reminders around your home and in your wallet to remind you why you don’t really need that impulse buy. It could be photos of your dream destination or silly things like a straw hat and sunscreen — anything that reminds you that you have bigger plans for your cash.

    3. Ask Yourself if Every Purchase Is Worth It

    Before you reach for your debit card (or hit the purchase button if you’re shopping online), ask yourself a little question: Is this worth it? You can even attach a sticky note with that question to your credit card. If it’s a $3 magazine that’ll keep you from being bored to death on a flight, then maybe that answer is yes. If it’s a pair of shoes that cost the equivalent of an entire day’s pay and you’re already stressed about debt, then take a hard pass.

    Staying aware of your goals can steer you away from unnecessary purchases. If you’ve got it on your mind that you want to get out of debt in 12 months, you may not be as inclined to buy that $15 graphic T-shirt.

    Shifting your way of thinking can snap you out of the habit of mindlessly buying stuff you don’t need. Take a moment to consider what you’re spending money on and why.

    4. Delete Your Ordering Info From Retail Websites

    Online retailers want buying to be as simple as the click of a button. They offer to save your debit or credit card information so you don’t have to pull out your card and type in a bunch of numbers each time.

    If you’re trying to fight impulse shopping, however, taking that additional step gives you more time to reconsider your purchases. Remove your financial information from online sites to prevent effortless impulse buying.

    5. Put Parental Blocks on Your Own Devices

    You don’t have to have kids to find the benefit in parental control settings. Block your favorite retail sites or set up purchase restrictions for the App Store or Google Play. Sure, you’ll know the code to circumvent the parental controls, but having that extra layer to get around might deter you from buying on impulse.

    Removing retail apps from devices altogether can also help.

    Getty Images

    6. Unsubscribe From Emails and Text Alerts

    Oh, the temptation of all the deals. That email for 30% off all footwear that just popped up in your inbox has you dreaming about getting new sandals, even though you already own several pairs. Did someone tell them shoes are your weakness? Avoid the trap by unsubscribing from email lists or text alerts from shops, restaurants or businesses you know will be hard to resist. There will always be another sale.

    Pro Tip

    Take advantage of deals when the purchase makes sense for your budget, not just due to fear of missing out.

    7. Understand the Tricks Retailers Play

    The shops you frequent have entire marketing teams working to entice you to buy through product placement and other clever strategies. If you’re trying to save money, fight against the temptation.

    That can mean ignoring the pretty displays for stuff you didn’t think you needed until you saw it. Or perhaps taking a closer look at that “great sale” turns out to be for a product whose packaging has shrunk, making it easier to walk away. And those outlet mall deals might not be such a steal.

    Teaching yourself to be a shrewd shopper can help you avoid being lured by clever marketing.

    8. Shop With Your Financial Accountability Buddy

    A friend or family member who’s aware of your financial challenges and goals is the perfect person to bring along on shopping trips. Your accountability buddy can reign in your tendency to overspend on the unnecessary. Just make sure it’s someone who’s not afraid to speak up on your budget’s behalf.

    9. Carry a Limited Amount of Cash

    If you tend to rely on your credit card to cover impulse purchases when you’re shopping, switch to cash and only carry the amount you need for that day.

    Using your credit card for impulse purchases only adds extra cost — in the form of interest — to something you didn’t need to buy in the first place. You could literally freeze your cards in a block of ice, shred them to pieces or simply keep them hidden away at home.

    Stick with cash only, plan your purchases in advance and take only the amount of money you’ll need for that one shopping trip.

    10. Give Yourself Time Before Deciding to Buy

    That gotta-have-it-now feeling is what leads so many of us to buy things on impulse. But pressing pause on buying is often all it takes to realize what we’re craving isn’t something we really must have. Some people implement a 30-day rule — delaying a purchase for about a month — but you can really give yourself any length of time.

    Pro Tip

    When shopping online, use the Google Chrome extension Icebox, which prevents you from making immediate online purchases, giving you time to reconsider how you’re spending your money.

    While you’re waiting, take inventory of what you already have.

    You know that coffee mug with the witty saying you just had to buy? It’ll end up in the kitchen cabinet along with a dozen similar ones you already own. Coffee is life, but when you can fill up an entire dishwasher with mugs alone, you gotta start saying “no” to more.

    Taking stock of what you already own at home — whether it’s clothes, shoes, books or dishware — can help you put things in the right perspective when something attractive catches your eye while shopping.

    11. Track Your Daily Spending

    Don’t wait until the end of the month to analyze your spending and see if everything matches up to how much you said you’d spend in your budget. When you take note of what you spend each day, those unnecessary impulse purchases stick out like a sore thumb.

    12. Find Something You Enjoy Besides Shopping

    Many people treat shopping like a hobby or something to do to pass time on the weekends. Others use shopping as a cure for a bad mood, but turning to retail therapy as entertainment or to bring you joy could make you more vulnerable to impulse spending.

    Instead of shopping for fun, find activities to fill that void. Have a picnic in the park. Take a walk or meditate. Call a friend. You could even make some money by working out .

    When Impulsive Buying Becomes a Bigger Issue

    As Penny Hoarders, we hate losing potential savings to frivolous impulse spending, but a few spur-of-the-moment purchases every now and then aren’t the end of the world.

    If shopping habits, however, seem beyond your control or are becoming detrimental to your financial life, relationships or general feeling of well being, then you should seek professional help.

    A licensed therapist could help you manage impulsive behavior. Debtors Anonymous also offers support to those whose shopping habits lead them to unmanageable debt.

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

    Nicole Dow is a former staff writer at The Penny Hoarder. 


    veronicalmatthews@gmail.com (Veronica Matthews)

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  • We Broke Down the Top 8 Grocery Delivery Services So You Don’t Have to

    We Broke Down the Top 8 Grocery Delivery Services So You Don’t Have to

    By now most people are aware of the shopping process of buying groceries online and contactless delivery. But there’s more to it than filling an online cart and scheduling delivery times.

    Which grocery delivery services offer unlimited free deliveries? Which one allows you to order alcohol? Who offers fast delivery and great deals on in-store prices?

    Before you sign up, read each service’s COVID-19 updates to understand any changes in protocol as the world recovers from the pandemic. Several grocery delivery services have changed their minimum order or delivery fee. Two — Peapod and Amazon’s Prime Pantry —are no longer in operation nationwide. Kroger delivery has expanded into places where it has no physical stores, including Florida, where Publix dominates the grocery game.

    8 of the Best Grocery Delivery Services Compared

    There are many grocery delivery options out there, so you need to know which one is the best fit for your life and your budget.

    But it’s inconvenient and time-consuming when you have to dig around for pricing, restrictions, delivery times and other information about multiple stores to find the best grocery delivery service in your area. You can also get sucked into the novelty of ordering leeks and Lay’s through an app without thinking about the effect on your grocery budget.

    To cut through the marketing speak, we’ve broken down the details on what the best grocery delivery services offer around the country.

    Photo courtesy of Instacart

    1. Instacart

    What: Instacart grocery delivery is available from a variety of grocery stores in your ZIP code, including drug stores, pet supply stores and, in some areas, liquor stores.

    Where: Instacart delivers in all 50 states, plus Washington, D.C. Check out the full list of locations.

    Product pricing: Instacart’s rundown of available stores includes notes on each retailer’s pricing policy. While most locations offer “everyday store prices,” others make it clear that the convenience of Instacart means you’ll pay higher prices for groceries than you would in stores.

    Membership: Membership isn’t required to use the service, but if you’d rather skip the delivery fee every time you place an order, you can sign up for Instacart+. For $99 per year or $9.99 per month, you’ll get free delivery for every order over $35. The Instacart+  service also exempts you from peak pricing when Instacart is busy.

    Delivery fee: The delivery fee is between $3.99 and $7.99 per order for nonmembers. Orders under $35 cost more. If you want your order in an hour, there is an additional charge.Tipping your personal shopper is permitted.

    Coupon policy: Instacart doesn’t honor sale prices in stores or manufacturer’s coupons. Instead, it offers special promotions you’ll see when you log in to your account. Once you order the required amount or type of items, the discount automatically applies to your order.

    Want to deliver groceries? Many grocery delivery businesses such as Shipt and Instacart are still hiring.

    2. Shipt

    What: Shipt delivers products from a variety of grocery stores. Alcohol delivery is also available in some locations.

    Where: Shipt is available throughout the U.S.

    Product pricing: Shipt prices are slightly higher than if you had taken the trip yourself. “Our members can expect to pay about $5 more using Shipt than they would on a $35 order purchased in the store themselves,” the company’s website explains.

    Membership: Shipt charges you $99 annually or $10.99 per month for unlimited free delivery. You can also do a one time delivery for $10 per order.

    Delivery fee: Members must make a minimum order of $35 to get free delivery. If your order is less than that, you have to pay a $7 delivery fee. You could also be charged $7 for alcohol purchases. Tips are permitted. If you can wait a couple days for your items, Walmart+ members get free shipping with no order minimum on next-day, two-day and standard shipping on items shipped from Walmart.

    Coupon policy: Shipt offers in-app specials on items, but it doesn’t allow you to use manufacturer’s or store coupons.

    The Walmart sign is shown in this photo.
    Tina Russell/The Penny Hoarder

    3. Walmart Grocery

    What: Walmart has several  grocery ordering options. In some locations, you can have your Walmart grocery order delivered to your doorstep. In many more locations, you can place your order for a pickup window to get your groceries delivered to your car at the store. Some stores even allow you to pay for your groceries with an electronic benefit transfer card.

    Where: Same-day delivery is available in most states. Walmart lets customers reserve a time and store location for pickup in all states.

    Product pricing: Pickup at the store is free and products are priced the same as if you had shopped in the Walmart grocery store yourself, but there is a $35 minimum order. If you order groceries to be delivered to your home  there is a delivery fee of $7.95 or $9.95. If you use delivery and have an order under $35, you’ll pay a $5.99 fee.

    Delivery fee: Express Delivery is another option that costs $10 per delivery plus the $7.95 to $9.95 delivery fee. Your order usually arrives within two hours. The store recently stopped requiring an order be a minimum of $35 for Express Delivery.

    With Walmart+ the groceries will likely be same day delivery if you get a good time slot when you place your order. The service costs $98 a year or $12.95 a month. There is no fee for delivery, but the order must cost at least $35.

    If you are a Walmart+ member you only pay the $10 Express Delivery fee and not the additional $7.95 to $9.95 delivery fee.

    Coupon policy: Walmart does not accept coupons for pickup or delivery orders. If you use the Savings Catcher app, it’ll verify that you received the lowest possible price and give you reward dollars.

    4. Hungryroot

    What: Hungryroot is a subscription-based grocery delivery service that curates and delivers a box of healthy food to your door each week. It covers most of your groceries for the week, minus basics like milk and bread.

    Where: Delivery is available in most ZIP codes around the U.S., excluding Alaska and Hawaii.

    Product pricing: You’ll build a plan based on how much food you want to receive, and prices are personalized to your plan. The minimum order amount is $65.

    Membership: Membership plans start at $70 per week, which covers 3 two serving meals.

    Delivery fee: Hungryroot plans ship for free.

    Coupon policy: The company delivers Hungryroot brand foods, so you’ll have to find brand-specific coupons. Keep an eye out for its promos for free Ancient Grain Pancake Mix, Superfood Almond Butter and cookie dough.

    5. Thrive Market

    What: Thrive Market is a subscription-based grocery delivery service that delivers organic and non-GMO foods. It can cater to special diets and food allergies, including vegan, vegetarian, gluten-free, nut-free, dairy-free, Kosher, keto and more. It offers prepared meals and foods, nuts, pantry staples, and frozen meat and seafood. It doesn’t offer fresh fruits and vegetables.

    Where: Thrive ships to the 48 contiguous U.S. states via ground shipping.

    Product pricing: Thrive promises it’ll offer products at low member-only prices through its Savings Guarantee, which offers store credit if you don’t save at least the price of your membership each year.

    Membership: Membership is required and costs $59.95 per year or $5 a month. Students, teachers, military members or veterans, first responders and low-income families can apply for free membership through  Thrive Gives.

    Delivery fee: Shipping is free on orders of groceries over $49. There is a $5.95 delivery charge if your order is below $49. Frozen orders under $120 ship for $19.95 and wine orders under $79 ship for $13.95.

    Coupon policy: Thrive users report periodically receiving coupons for discounts on their full order. You can also receive store credit for referring friends, leaving product reviews and purchasing promotional items.

    A woman opens up a meal kit delivery box.
    Getty Images

    6. Boxed

    What: Boxed lets you save money on groceries by buying everyday brands in bulk for delivery without an annual membership. You can also get perishable items from your local grocery store delivered to your door through Boxed Express.

    Where: Boxed is available for home or business grocery delivery in the contiguous U.S. If you’re in an area eligible for Express, there will be an Express product selection shown on the website.

    Product pricing: Pricing is similar to what you’d pay at a warehouse store like Costco or Sam’s Club.

    Membership: Anyone can order from Boxed for free. With a Boxed Up membership for $49 per year, you’ll earn 2% cash back, free shipping on orders $19.98 and more, and exclusive discounts.

    Delivery fee: Shipping is free on orders of $49 or more for non-members. Boxed Up members pay no delivery fees on orders of $19.98 or more. There is no fee for Boxed Express.

    Coupon policy: Boxed does not accept manufacturer coupons, but you can find Boxed specific coupons in the “Coupons for You” section.

    7. Google Shopping

    What: Formerly Google Express, Google’s grocery delivery service is now part of Google Shopping. Shop and compare bulk and retail-sized non-perishables, including prepared foods, beverages and pantry staples from dozens of retailers. Check out through Google or at the store’s site. Each retailer handles its own delivery.

    Where: Delivery options depend on which store you shop with.

    Product pricing: Pricing is in keeping with online shopping prices for each retailer.

    Membership: No membership is required to shop through Google, though you may have to be a member to buy from clubs like Costco.

    Delivery fee: Delivery fees vary by retailer. Most retailers offer free shipping with a minimum order requirement.

    Coupon policy: Policies vary by retailer.

    8. Kroger

    What: Kroger has Ship, Delivery, and Pickup programs that give customers the choice of how they’d like to receive their groceries. With Delivery, you can have groceries, including milk and fresh produce, delivered to your door the same day you order, or schedule delivery for a later date. Ship allows you to order nonperishable items and have them mailed to your home in 1-3 days. If you choose Pickup, you can select a time slot and an associate will bring your items to your car.

    Where: Kroger Ship is available throughout the continental United States and includes P.O. and APO/FPO boxes. The availability of Delivery and Pickup varies by location.

    Product pricing: Prices on Kroger’s website will reflect the prices of your currently selected store and prices could change depending on your delivery/pickup day, current in-store promotions and other factors. The Kroger Ship service offers separate promotions on goods, but no wholesale discounts.

    Membership: There is no membership, but you’ll want to create an account so you get fuel points, discounts and digital coupons.

    Delivery fee: The Ship service is free with orders over $35. Under $35, the cost varies by location. Delivery charges $9.95 to $11.95 depending upon your location and Pickup has a $4.95 service fee on orders under $35.

    Coupon policy: Kroger Delivery accepts digital coupons. Clip them online and they will be automatically applied to your order. Kroger does not accept coupons on Ship orders. Currently, new customers can receive $15 off their first pickup or delivery order over $75.

    Other Delivery Services

    A sign of Safeway is shown in this photo.
    Tina Russell/The Penny Hoarder

    Some of the best grocery delivery services are only available in select cities or regions, so be sure to check the websites of your local stores.

    Here are a few we like:

    • FreshDirect: Get delivery of grocery staples, including fresh produce and meat, and wines and spirits, in New York, New Jersey, Connecticut, Pennsylvania, Washington, D.C., Delaware, and seasonally in the Hamptons and New Jersey.
    • Safeway: This favorite West Coast grocery store lets you order online for store pick up or delivery.
    • Amazon Fresh: Available to Amazon Prime members and Amazon Prime Student members in select cities, Amazon’s grocery delivery service delivers food, including fresh fruits and vegetables.
    • Publix: Select locations of the Southeastern grocery store offer grocery delivery and curbside pickup through Instacart. Publix also offers in-store pickup.

    What Is the Best Grocery Delivery Service for You?

    Each of the best grocery delivery services offers unique benefits depending on your grocery needs. To select a grocery delivery service for your household, consider:

    • Is it available in your area?
    • Do you want fresh produce and meat delivered, or only nonperishables?
    • Do you prefer to buy from local stores or national chains?
    • Do you like to shop around at different stores, or do you have a go-to grocery store?
    • Do you follow a special diet?
    • Does a service cover all your grocery needs, or only select items?
    • Do you prefer meal kits, curated orders or hand-picked groceries?

    If one of the best grocery delivery services  doesn’t cover all your needs, you can always use more than one. Just keep an eye on costs — multiple memberships could add up quickly and negate any savings you find.

    Lisa Rowan is a former senior writer and producer at The Penny Hoarder. Contributors Kent McDill, Katherine Snow Smith, Dana Miranda and Jenna Limbach contributed reporting to this story. 


    lisa@thepennyhoarder.com (Lisa Rowan)

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  • These 5 Sites Will Let You Sell Gift Cards Online to Make Extra Cash

    These 5 Sites Will Let You Sell Gift Cards Online to Make Extra Cash

    Ah, gift cards: The go-to present from someone who has good intentions, but doesn’t know you well enough to get you something you’d actually like.

    This holiday season, you’re likely to end up with a stack of them — some of which you probably can’t use or don’t want.

    Maybe your boss gave you a Starbucks gift card, but you aren’t a coffee drinker. Or your Aunt Rita gave you a generous $75 for a steakhouse, but you’re a vegetarian.

    There is no reason for the gift to go to waste. Instead of letting them languish in a junk drawer or unopened email somewhere, sell those gift cards for cash.

    5 Best Places to Sell Gift Cards for Cash and Discounts

    Ready to start selling gift cards? Start with these five sites.

    1. CardCash

    Founded in 2009, CardCash is a no-frills marketplace to buy and sell gift cards. It accepts cards from more than 1,100 different retailers — all types of popular department stores, restaurants, grocers and more. While the website states that you can earn up to 92% of a gift card’s value, each card is given a unique quote that could be lower. CardCash pays you directly if your card is accepted.

    Use CardCash’s quote tool to see how much cash your gift card is worth and to find out if you need to physically mail it in. You also have the option to swap the gift card for one at another store, possibly exceeding the value of your current gift card. Gift cards must have a balance of at least $10.

    Get started: www.cardcash.com

    2. ClipKard

    According to its website, ClipKard accepts physical gift cards from more than 100 retailers – including partially used ones. Fast food restaurants and department stores are especially popular.

    ClipKard’s quote tool will let you know if your card is currently being accepted and, if so, how much it’s worth in cash. If you like the quote, you can ship your gift card to ClipKard using the prepaid USPS shipping label provided to you. If you’re in a rush, you can choose to upgrade to priority shipping, and the price will be deducted from your payout.

    If you don’t see your gift card brand on the list, you can email [email protected] for an evaluation. All cards must have a value of at least $15.

    Get started: www.clipkard.com

    3. Gameflip

    Gameflip is a unique way to get rid of your unwanted digital gift cards and other items. The e-commerce site is a blend of eBay and Upwork for gamers. When selling gift cards, like any other product or service on the site, you’ll have to make a listing, which requires you to first make a Gameflip profile.

    You can sell any unused prepaid and non-reloadable gift card for gaming platforms or other retailers. Popular gift cards include Steam, PlayStation, Xbox, iTunes, Google Play and more. With Gameflip, you have full control over the price, though it’s recommended you list your card at a discount of 2% to 15% of its value.

    When someone buys your gift card, Gameflip transfers the funds into your Gameflip wallet, which you can withdraw from using Wise, Payoneer, Skrill or Bitcoin. (PayPal is no longer supported.) Gameflip takes an 8% cut of all listings and a further 2% cut of digital-only listings. Each wallet withdrawal method has its own associated fees.

    Get started: www.gameflip.com

    4. GiftCash

    GiftCash is a straightforward way to sell digital and physical gift cards from more than 150 accepted brands. And you can earn up to 92% of the value for in-demand brands.

    As with other gift card exchange sites, you can get a quote from GiftCash before you choose to sell it. However, GiftCash does not allow gift-card swapping.

    All gift cards must have a value of at least $25. Some brands require a higher minimum value, such as $100 for Air Canada, Apple, iTunes and Petco. Maximum value for all gift cards is $2,000.

    Get started: www.giftcash.com

    5. Raise

    Raise is a mobile payment app and e-commerce platform launched in 2013. Among many things, Raise allows you to sell your unwanted gift cards with a balance of at least $5 on its marketplace. That means you’ll need to create a Raise account and a listing for your gift card.

    As with any product, the more demand, the more you can ask for it. Gift cards for major retailers like Walmart, Target and Best Buy tend to sell on the marketplace for about 95% of their value.

    You also maintain control over your listing. If your card doesn’t sell in the first couple of days, you can always adjust the price to attract more buyers. Or you can unlist it if you change your mind. Once it sells, Raise charges a 15% seller fee, and for physical cards, it charges an additional $2.75 or 1% fee for shipping — whichever is greater.

    If you lost track, that means the maximum you can earn on a digital gift card is 85% of its value, if it sells for 100% of its value.

    Get started: www.raise.com

    To help you determine the best place to sell your unwanted gift cards, we’ve compared several price estimates from popular stores in fall 2022. Here’s how the five gift-card sites stack up.

    How Much Cash Your Gift Cards Could Earn

    Sites $25 Walmart Gift Card $25 Target Gift Card $25 Starbucks Gift Card
    CardCash $21.50 $21.13 $19.75 GET DETAILS
    ClipKard $17.84 $17.33 $15.29 GET DETAILS
    Gameflip* $22.50 $20.61 $14.40 GET DETAILS
    GiftCash $21.00 $20.75 $17.50 GET DETAILS
    Raise* $21.25 $20.82 $20.30 GET DETAILS

    *Note: Estimated exchange prices for Gameflip were based on the rates of digital gift cards currently listed and selling on their marketplace, minus the applicable 10% seller fee.

    Tips to Sell Gift Cards Online

    There are plenty of websites to sell your gift cards, and each one is a little different. Some will let users bid on your gift card, while others will purchase it from you and then sell it themselves.

    Here’s what to keep in mind as you find a buyer for that unwanted present.

    Consider Ways to Get Paid

    Depending on the service you choose, when you sell a gift card, you can receive a check in the mail, a PayPal or other digital payment, or a more useful gift card.

    Payment apps might be quick, but keep those pesky transaction fees in mind if you want to maximize your payout. Checks may take a little longer, but they’re as good as cold, hard cash. And depending on your spending habits, another gift card might be the best choice, as the conversion rate is going to be the highest.

    Each selection has its own perks, so choose whichever best fits your needs.

    Don’t Sell Gift Cards on eBay

    EBay has always been a popular place for buying and selling things online — but it might be the worst way to sell gift cards.

    First, an eBay buyer isn’t likely to buy your gift card for more than 80% to 90% of its value. For a $100 gift card, you can count on a loss of between $10 and $20 right off the bat.

    On top of that, you may be responsible for eBay’s insertion fees, a final value fee and a performance fee if your eBay seller account isn’t in good shape. These fees eat further into your earnings.

    You may be thinking, hey, don’t Raise and Gameflip also have seller fees? They do. But these marketplaces specialize in selling gift cards, so the base value of your gift card is likely to be higher on Raise or Gameflip than on eBay. Also with eBay, there’s no built-in way to verify your gift card’s code or balance — making the selling and shipment process much more of a hassle.

    In short, stick with one of the five gift-card selling websites above to get the most money for that well-meaning Applebee’s gift card that will fuse together with your wallet before you ever use it.

    Frequently Asked Questions (FAQs) About Selling Gift Cards Online

    Here are our answers to some common questions about selling gift cards online.

    How Can I Exchange Gift Cards for Cash?

    You can exchange gift cards for cash easily by selling the unused card directly to a gift card site like CardCash, CardKlip or GiftCash. They will buy the card from you directly. Or you could list your gift card on marketplaces like Gameflip or Raise, where people can bid on your card and buy it from you. You’ll give up a little bit of the gift card’s value, but you’ll have money you can use anywhere.

    How Can I Get Cash for Gift Cards Immediately?

    When you sell your gift cards online, it’s possible to get a quote immediately. That is, you can easily and quickly check how much your gift card is worth. But the entire process of selling the gift card online will take much longer, especially if you have to mail a physical card.

    One option for faster cash is through GiftCardBin, which partners with more than 600 businesses nationwide to buy gift cards — in person. Use its store locator tool to see if a partner is nearby. Then you can sell your gift cards for fast cash. However, you should expect a quote much lower than the online exchanges.

    Where Can I Sell Unused Gift Cards?

    You can sell gift cards for cash online and in person. Selling your gift card in person is the fastest way to get cash, but it’s not the most lucrative. GiftCardBin has hundreds of partners around the U.S. that offer cash for gift cards at a steep discount. The slower and more lucrative way to sell gift cards is online, and you can earn up to 95% of the gift card’s value in cash by using one of the gift card exchanges mentioned above.

    How Much Do You Get for Gift Cards at Coinstar?

    Coinstar discontinued its gift-card-buying services at all Coinstar terminals. However, if you’re using Coinstar to count your change, you can maximize your payout by choosing to accept payment by gift card. This option allows you to skirt the fees associated with cash payout.

    Adam Hardy is a former staff writer for The Penny Hoarder. Freelancers Dana Miranda and Cassidy Alexander contributed to this report.


    hardyjournalism@gmail.com (Adam Hardy)

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  • Chime Review 2023: Checking, Savings, Pros & Cons

    Chime Review 2023: Checking, Savings, Pros & Cons

    Digital-first financial services are the wave of the future: all of the money management, none of the getting off the couch.

    One of the earliest players and a leading company in the branchless banking game is Chime, a financial technology company founded in 2013 by Chris Britt (current CEO) and Ryan King (current CTO).

    Like other online banking options, Chime offers many of the most important features of a traditional deposit account with a much leaner fee schedule — and even has a savings account option that bears a much higher interest rate than a typical savings account.

    Chime has become increasingly popular even though a summer 2021 controversy has yet to play out. Nearly 1,000 complaints were lodged with the Consumer Financial Protection Bureau after Chime abruptly closed hundreds of accounts. Chime said the closures were related to COVID relief fraud but the issue has not been publicly resolved. Pro Publica reported on the situation in July and The Penny Hoarder is watching for resolution. 

    Chime Review: Accounts

    In this review conducted in late 2022, we look at both the Chime’s checking and savings accounts, considering the details you will need to decide if you want to sign up. Chime offers one “checking account” option, called the Chime Spending Account. Every Chime member starts with this account.

    If you open a Chime Spending Account, you also have access to a Chime Savings Account, an FDIC-insured savings account with automated savings features, high APY and no fees.

    Chime Checking Account

    Best for Simple, Fee-Free Checking

    Key Features

    • No monthly fees
    • Cash deposit via Green Dot
    • Fee-free overdraft options

    Chime’s checking option is the Spending Account. It’s a pretty basic product: A non-interest-bearing deposit account linked to a debit card. It works like most traditional checking accounts, and includes fee-free overdraft options and access to a credit builder account if you want it.

    Chime Checking Account

    Minimum balance

    $0

    ATM access

    60,000-plus free ATMs2

    Prime perk

    Get paid up to two days ahead with direct deposit3

    More Information about Chime Checking Account

    With a Chime Checking Account, you get:

    • Visa debit card: Use your Chime debit card for point-of-sale transactions, ATM withdrawals and Green Dot cash deposits.
    • Mobile deposit:  Deposit any check into your account by snapping a photo with the Chime smartphone app. How easy is that?
    • Cash deposits: You can deposit cash into your Chime account at more than 75,000 retail locations with Green Dot, which is a feature many online banks don’t allow.
    • Peer to peer transfers: Send money directly from your Chime account to friends and family, whether they use Chime or not.4
    • SpotMe® overdraft protection: This fee-free overdraft protection feature is available if you’ve received total monthly direct deposits of $200 or more in the last 34 days. If you spend more than you have in your account, Chime will cover the difference, starting at a limit of $20 and increasing up to $200 or more depending on your account activity. You’ll repay the overdraft amount out of your next deposit.5
    • Bill pay: Pay rent and bills directly from your account through ACH transfer by giving companies your Chime routing and account numbers. Or mail a paper check using the Chime Checkbook feature.
    Pro Tip

    Check out our current list of bank promotions for a chance to earn a cash bonus when you sign up for a new bank account.

    Chime Savings Account

    Best for Automatic Savings

    Key Features

    • Cash rewards for saving
    • Automatic savings features
    • No minimum or maximum balance

    The Chime Savings Account comes with no fees, balance minimums or maximums on interest, and it gives you access to automated features to make setting aside money painless. The Savings Account earns interest at a rate of 2.00%1 Annual Percentage Yield (APY), with no minimum deposit required. Chime Checking Account is required to be eligible for a Savings Account.

    Chime Savings Account

    APY

    2.00%1

    ATM access

    60,000-plus free ATMs

    Prime perk

    Auto save with 10% of each deposit going to savings

    More Information about Chime Savings Account

    Anyone with a Spending Account has the option to add a Savings Account. 

    Automated savings features include:

    • Round ups: Anytime you make a purchase with your Chime debit card, you can automatically round up transactions to the nearest dollar and stick the digital change into your savings account.
    • Save When I Get Paid: Automatically transfer 10% of each deposit or payment received (of $500 or more) into your savings account.

    Unlike some online accounts, Chime doesn’t make it easy to set specific savings goals or to further personalize your accounts by purpose. You also cannot deposit money directly into your Chime Savings Account; it has to be funneled through your Spending Account.

    The Chime Savings Account is a federally regulated savings account, so it’s subject to any definitions or restrictions set by the Federal Reserve, including potential withdrawal limitations.

    Other Chime Products

    Aside from a simple checking account and savings account, Chime’s offerings are fairly light. It doesn’t offer any lending, credit cards or investing, so you’ll have to work with different institutions to cover those.

    It does offer a fairly unique credit builder account connected to the Chime Credit Builder Secured Visa Credit Card.

    You can open an account with no credit check and pay no annual fees. You’ll just make a deposit of any amount (no minimum), which becomes your credit limit. You spend on the card like any other Visa credit card and repay the balance with the money in your Credit Builder account, and your activity is reported to credit bureaus to build your credit history.

    Chime Fees

    Chime goes easy on the fees, which means:

    • No monthly fees for account maintenance.
    • No minimum balance requirement.
    • No foreign transaction fees.
    • No opening deposit requirement.
    • No fee for SpotMe overdraft protection and no additional overdraft fees.
    • No fee to send paper checks with Chime Checkbook.
    • No ATM fees when you use in-network ATMs.

    You can withdraw cash from more than 60,000 fee-free ATMs in the U.S. through MoneyPass and Visa Plus Alliance ATMs.

    You’ll pay the provider’s fee if you use an out-of-network ATM. And you’ll pay a fee to deposit or withdraw cash over the counter at Green Dot locations — Chime charges $2.50 for withdrawals, and you may pay a Green Dot fee, which could be up to $4.95 per transaction.

    Chime Customer Experience

    As with all online bank accounts, Chime’s convenience factor is relative: If you’re looking for the brick-and-mortar banking experience, you’re barking up the wrong (money) tree.

    Because Chime is a technology company, its mobile app is easy to use and lets you manage your money on the go 24/7. If that’s what you’re looking for, Chime makes the grade for online checking accounts and savings accounts. 

    It also includes some features you won’t see from many of its online-banking competitors, including cash deposits, free overdraft protection, and early paycheck deposit.

    Chime enjoys high ratings on both the Google Play Store and Apple’s App Store — 4.7 and 4.8 stars out of five, respectively. 

    The app makes it easy to access and interact with all of Chime’s banking features, including SpotMe overdraft protection, automatic savings options and easy mobile payments, which are made particularly simple for transactions between Chime users.

    Through the app, you can:

    • See your Chime Spending and Savings account balances and transaction history.
    • Transfer money between Spending and Savings.
    • Deposit checks with mobile check deposit.
    • Locate in-network, fee-free ATMs.
    • Contact customer support.
    • Set up automatic savings and Round Ups for debit card purchases. A survey by the Federal Reserve Bank of Atlanta reported that Americans made an average of 68 payments or purchases a month in 2020, and 23 of those were debit card payments.  
    • Transfer money to other Chime members with Pay Friends. The money transfers immediately. 

    The app doesn’t carry the wealth of extra features some other digital-first banks offer. Budgeting tools, for example, are a helpful way to reframe your finances, and banks of all types are increasingly working them into their suite of digital tools. 

    Chime, on the other hand, remains simplistic — which you might take as a positive or negative, depending on what you’re looking for.

    Is Chime Right for You?

    Chime’s suite of offerings and in-app tools are pretty lean, but could be a fit for you if you have relatively simple banking needs. Here’s our take on the best things and the not-so-best things about opening a Chime account.

    Pros and Cons of Chime

    We’ve rounded up the pros and cons of Chime to help you decide if this is the right option for you.


    Pros

    • Fee-free money services
    • No overdraft fees, plus flexible protection
    • Get paid early
    • Cash deposits


    Cons

    • No interest on checking
    • No small business banking options
    • No budgeting tools or financial services
    • No joint accounts

    Frequently Asked Questions (FAQs) About Chime

    Here are our answers to some commonly asked questions about Chime.

    First off, Chime is not technically a bank but rather an online money management system. What makes a good financial platform or institution is different for everyone. Chime offers a fee-free spending account and savings account, higher-than-average APY, a credit builder card, a free ATM network and fee-free overdraft protection. Its features could be attractive to anyone, but may fall short if you want more comprehensive services, like lending, credit cards, investing or small business banking.

    Is Chime a Legit Account?

    Chime’s deposit accounts are held and FDIC-insured by its partner banks, Stride Bank, N.A. and The Bancorp Bank, both chartered and federally regulated banks in the U.S. 

    Can You Get Scammed on Chime?

    Your money is safe with a Chime account. Chime uses a secure mobile banking platform that includes two-factor authentication, fingerprint authentication, transaction alerts, easy debit card freeze and Visa Zero Liability protection against fraudulent charges to your Chime Visa debit card. Its accounts are backed by partner banks, Stride Bank, N.A. and The Bancorp Bank, which offer FDIC insurance for your balances up to $250,000.

    Chime’s mobile banking platform is secured with encrypted data, two-factor authentication and fingerprint authentication to keep strangers from accessing your account. And the platform gives you access to real-time transaction alerts and instant debit card freeze.

    What Bank Does Chime Use?

    Chime is a financial tech company that has partnered with Bankcorp Bank, N.A. and Stride Bank N.A. Chime offers accounts and cards, but is not a bank itself. It has an app and may seem like a bank, but its partners conduct the actual bank processes.

    Dana Sitar (@danasitar) has been writing and editing since 2011, covering personal finance, careers and digital media. Information from former Penny Hoarder contributor Jamie Cattanach is included in this report. Freelancer Michele Becker contributed to this report. 

    *Chime is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC.

    ¹ The Annual Percentage Yield (“APY”) for the Chime Savings Account is variable and may change at any time. The disclosed APY is accurate as of October, 25th, 2022. No minimum balance required. Must have $0.01 in savings to earn interest. The average national savings account interest rate of 0.17% is determined by FDIC as of September 19, 2022 based on a simple average of rates paid (uses annual percentage yield) by all insured depository institutions and branches for which data are available. Visit National Rates and Rate Caps to learn more.

    ² Out-of-network ATM withdrawal fees may apply except at MoneyPass ATMs in a 7-Eleven, or any Allpoint or Visa Plus Alliance ATM.

    ³ Early access to direct deposit funds depends on the timing of the
    submission of the payment file from the payer. We generally make these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date.

    4 Sometimes instant transfers can be delayed. The recipient must use a valid debit card to claim funds. Once you are approved for a Chime Checking Account, see your issuing bank’s Deposit Account Agreement for full Pay Anyone Transfers details. Please see the back of your Chime debit card for your issuing bank. See Terms and Conditions. 

    5 Chime SpotMe is an optional, no fee service that requires a single deposit of $200 or more in qualifying direct deposits to the Chime Checking Account each month. All qualifying members will be allowed to overdraw their account up to $20 on debit card purchases and cash withdrawals initially, but may be later eligible for a higher limit of up to $200 or more based on member’s Chime Account history, direct deposit frequency and amount, spending activity and other risk-based factors. Your limit will be displayed to you within the Chime mobile app. You will receive notice of any changes to your limit. Your limit may change at any time, at Chime’s discretion. Although there are no overdraft fees, there may be out-of-network or third party fees associated with ATM transactions. SpotMe won’t cover non-debit card transactions, including ACH transfers, Pay Anyone transfers, or Chime Checkbook transactions. See Terms and Conditions.


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

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  • TurboTax Review 2023: The Pros, Cons and What You Need to Know

    TurboTax Review 2023: The Pros, Cons and What You Need to Know

    If you’ve had “sit down and do my taxes” on your to-do list for a little while, we’ve been there — tax season is not exactly something to look forward to each year.

    If anything, it’s something most of us dread, wondering how to put everything together, how the rules have changed since last year, and perhaps most importantly, which digital DIY tax filing service we should use.

    And if your response to that is, “Wait, there are services that could help me online?,” then this article is most definitely for you. DIY tax filing services like TurboTax, H&R Block, Cash App Taxes and TaxSlayer help you figure out what forms you need and guide you through the process—often for free.

    In this article, we’re going to review TurboTax’s online filing services and tax software and see how it compares to the competition.

    TurboTax: How Does It Work?

    Perhaps the best-known of the digital filing options, TurboTax is the tax-focused baby of Intuit, the same company behind Mint and Quickbooks.

    TurboTax is a perfect option for the taxpayer who wants everything from a full-service expert doing their taxes to someone who simply wants to use the guided software to input information on their own. The service even offers a free option that means you’ll pay nothing to file state and federal taxes — that is, if you’re filing a simple tax return, meaning one using only the IRS Form 1040.

    And if you prefer things a little more low-fi, then you may want to invest instead in the TurboTax CD/download, which allows you to install the software on your computer. The cost of the Deluxe (and more) CD includes the tax preparation fee for one state and five federal e-filings, although you can prepare and print unlimited federal tax returns. (Although who wants to think about unlimited tax fillings?)

    As you can see, TurboTax offers much to choose from and has four main pricing tiers, as of December 2022. Here’s a little more about how much they cost and what they offer.

    Free Edition

    The idea of free tax filing software sounds too good to be true, and that’s because it is — kind of. TurboTax’s free edition is great for those who only need to cover W-2 income, the Earned Income Tax Credit (EIC) and child tax credits. You can also import your hobby, personal property rental or personal item sales income from your Form 1099-K. But if your taxes include other categories, you may want to consider something a little more advanced.

    Cost: $0

    Deluxe 

    The Deluxe edition is the right choice for the person who doesn’t want to shell out that much more but wants help finding all the possible tax credits for them. The Deluxe TurboTax helps you search more than 350 tax deductions and credits to find the ones that fit for you. That includes homeowner tax breaks, charitable donations plus mortgage and property tax deductions. If you have additional education expenses or tax credits for dependents, you might want to go ahead and invest in Deluxe. This is also helpful when it comes to 1099-MISC income — i.e. earnings of an independent contractor like a freelance writer or Uber driver.

    But if freelance work is your sole source of income, you’ll be better off using the TurboTax Self-Employed edition, which is described below.

    Cost: $39 for federal filing, plus $39 per state

    Premier

    If you’re someone who has additional income from investments and rental property, then you may want to upgrade to the Premier version of TurboTax. You’ll get everything in Deluxe, as well as the ability to automatically import transactions from financial institutions, including stock and crypto activity, and look for more than 450 relevant tax deductions and credits. The system will also help you to note your gains and losses from crypto, if that’s a concern.

    Cost: $69 for federal filing, plus $39 per state

    Self-Employed

    If the bulk of your income comes from a self-employed post, like online sales or professional services, then you may want to consider TurboTax Self-Employed. It works for industry-specific deductions and offers guidance for freelancers, independent contractors and small business owners.

    You’ll also get the ability to upload your 1099-MISC forms with your phone and an audit assessment. TurboTax guarantees your maximum tax refund.

    Cost: $89 for federal filing, plus $39 per state

    Aileen Perilla/ The Penny Hoarder

    TurboTax Live

    For each of the products above, TurboTax lets you upgrade to TurboTax Live to get on-demand answers and a line-by-line review of your taxes by a tax expert — CPA or EA.

    Cost: TurboTax Live comes in tiers similar to its DIY products:

    • Basic costs $0, including free state filing.
    • Deluxe costs $89, plus $49 for state filing.
    • Premier costs $139, plus $49 for state filing.
    • Self-Employed costs $169, plus $49 for state filing.

    Features

    No matter which tier works best for you — and there’s an easy, clickable questionnaire that helps you figure out the right product based on your tax situation — all TurboTax customers get access to a wide range of tools, guarantees and features.

    Audit Support Guarantee

    Say you’ve done your taxes through TurboTax and end up receiving an audit letter from the U.S. Internal Revenue Service. Here’s where the system’s Audit Support Guarantee comes in.

    TurboTax will offer one-on-one support with a tax professional, through their Audit Support Center. This, however, does not mean that an expert from TurboTax will represent you in front of any tax authority. If the service cannot connect you with a tax professional, you will get refunded the purchase price—and even Free Edition users get a payment of $30.

    Money-Back Maximum Refund Guarantee

    TurboTax promises you the maximum tax refund — guaranteed. That means that if you find a bigger refund or smaller overall tax payment from another method, they will refund you the price you paid for access to their programs. (Again, free users can get up to $30.)

    Mobile Apps for Apple and Android

    If you’re someone who likes to do things on the go, you can even file your taxes through an app. TurboTax has options for both Apple and Android users. (Keep in mind—you may want to file them online so you can sit down and really go through your taxes.)

    Refund Advance

    One of TurboTax’s most unusual features may be the refund advance option of up to $4,000 with no loan fees, no credit impact and 0% APR. A few eligibility barriers apply: you’ll have to have a refund of at least $500 and can’t live in North Carolina, Connecticut or Illinois, for example.

    But if you can apply, you could get the funds in as fast as a minute after the IRS accepts your tax return. You’ll have to get them by opening a checking account with Credit Karma Money and can, once accepted, almost immediately use your Credit Karma Money virtual debit card loaded up with the funds from your return. If you prefer to get your funds in direct deposit or a paper check, that will take 21 days or 28 to 42 days, respectively. It’s important to note that you’ll get about half of the actual refund you’re entitled to — for example, if your refund falls between $500 and $999, you’ll get $250.

    Once the IRS distributes the rest of your return, you’ll receive the rest of the money into the Credit Karma Money checking account you’ve already opened.

    Pay-With-My-Refund Options

    If you anticipate having a high refund and want to pay for TurboTax with your refund instead of your bank account, that can be done. This service often comes with a charge—generally, users say they’ve paid $39.99. To do this, you’ll have to e-file your return and direct deposit your refund into a single account. It can only be used once.

    Woman sits a table doing taxes.
    Aileen Perilla/ The Penny Hoarder

    Fees

    To prepare and file your tax returns through TurboTax, you’ll pay a fee for the filing program or software, plus additional fees to file your state return. Here’s how that looks:

    • DIY online filing: Free to $89, depending on tier.
    • State filing fees: Additional $0 for free filing, $39 per state for paid DIY tiers, $49 per state for paid Live tiers.
    • TurboTax Live: Free to $169, depending on tier.

    If you owe taxes after you file, you can pay with credit card or debit card through payment processors recommended by TurboTax. This generally comes with a fee between $2 and $4 per transaction for a debit card.

    You can also use an electronic funds withdrawal to pay directly from your bank account—that is, if you’re e-filing your taxes. This is an option not all competitors offer; with other tax services, you’d have to go directly to the IRS to pay this way.

    TurboTax: Pros and Cons

    Now that we’ve laid out the basics of TurboTax’s features, what’s the verdict on its performance? Like all financial products and services, there are both pros and cons to using TurboTax.


    Pros

    • Affordable: TurboTax’s tiers clock in at a lower price than similar tiers from competitors — though its free DIY service doesn’t cover as many filers as other options.
    • Ease of use: Filing with TurboTax is pretty comprehensive and user-friendly, according to user reviews. Its technology simplifies the process.
    • Comprehensive: The company has a product available for just about every filer, no matter your income or tax situation, or how hands-on or hands-off you want to be.
    • Customer service: TurboTax offers lots of support, including links to extensive support topics, as well as a community forum that lets you interact with other filers and tax experts.


    Cons

    • Overwhelming user experience: TurboTax is super customizable, but sifting through its many product options can feel kind of overwhelming.
    • Lack of transparency: Your total TurboTax fees aren’t totally clear until you go through the tax prep process. That could mean wasted time if you end up wanting to look for a cheaper option.
    • No physical locations: TurboTax doesn’t offer in-person, brick-and-mortar offices like H&R Block. If face-to-face, personalized service is important to you, this isn’t your best option.

    Who Is TurboTax Best For?

    When it comes right down to it, most online tax preparation services are more alike than they are different.

    TurboTax may be best for someone who wants custom tax help without going into an office and dealing with a live person. It’s also a good option if you’re looking for a truly fee-free line of advance tax credit so you can access your money ASAP.

    Remember, you can always file for free, if you’re eligible, through the IRS portal. This service is available to filers who earned $73,000 or less in 2022, and the page also links to free fillable forms for earners at all levels.

    Still comparison shopping? Check out our reviews of H&R Block and TaxAct before you make a decision.

    Writer Elizabeth Djinis is a contributor to The Penny Hoarder, often writing about selling goods online through social platforms. Her work has appeared in Teen Vogue, Smithsonian Magazine and the Tampa Bay Times.


    elizabethdjinis@gmail.com (Elizabeth Djinis)

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  • Love Restoration Hardware, but Not Its Prices? 10 Ways to Get It for Less

    Love Restoration Hardware, but Not Its Prices? 10 Ways to Get It for Less

    The outside of Restoration Hardware is shown.


    Chris Zuppa/The Penny Hoarder

    Don’t have $1,000 to spend on an 18-inch vintage nautical pendant light or $4,000 for a textured linen weave chaise lounge?

    Such mind-bending prices may make you think you have no business stepping foot inside a Restoration Hardware gallery. But if you know a few hacks and tips, you can experience the thrill of bringing home a perfect piece from a cult favorite store, and still pay less.

    10 Tips for Cutting Costs When Shopping at Restoration Hardware

    Here’s how to find rustic, designer Restoration Hardware pieces for a fraction of the cost. Or, RH, for those in the know.

    1. Shop Sales and Certain Collections

    Seasonal sales are a thing of the past at Restoration Hardware, so it pays to keep an eye on the website for sales.

    Select collections are comparatively inexpensive, such as the Belvedere Teak Collection currently starting at $1895 regularly priced and $1421 for members, or the Nico Handwoven Wool Rugs, selling for $969 regularly priced and on sale for $383 for members.

    Also, check for coupon codes on sites like RetailMeNot.com.

    You can even call your local store to ask about upcoming promotions.

    2. Place One Order for Flat Shipping

    Restoration Hardware has a flat $279 shipping fee for most furniture items within a 50-mile radius of the store (this chart outlines shipping fees beyond that distance). It doesn’t matter how heavy each piece is or how large your order is (though some oversized items might incur an additional fee). It’s wise to place one giant order and just pay for shipping once.

    Got a friend who’s also picking up a few items? Combine your orders, ship to one address and split the shipping.

    If necessary, you can return small items like bedding directly to the gallery, rather than shipping.

    3. Leverage the Restoration Hardware Credit Card

    If you use it wisely, the RH Credit Card can help you stretch your budget for large purchases.

    You can choose to pay no interest for 12 months or reduced interest for a span of 12 or 60 months, so you could splurge on decorating your bedroom, then chip away at the total throughout the year.

    Warning: Be careful here. If you don’t pay off the balance within the promotional interest period, the interest rate jumps to a whopping 24.99% on your remaining balance.

    4. Join the RH Members Program

    If you already spend a lot in the store (or plan to), you could save a lot by joining the members program. For an annual fee of $175, you’ll get a 25% discount on all full-priced merchandise and an additional 20% off sale items.

    Members also get VIP treatment, including early access to clearance events, preferred financing on your RH credit card and complimentary interior design help.

    5. Scroll Final Sales

    Final sales on the RH site feature limited deals up to 70% off and members get an additional 20% off. Hover over any of the nine categories — living, dining, bed, bath, lighting, etc. — and click the “Final Sale” option to see available sale items.

    Incidentally, if you’re on the fence about a membership, the final sale member prices might just make the decision for you.

    6. Shop a Restoration Hardware Outlet

    Restoration Hardware sends all its damaged or clearance items to one of its outlet stores across the United States and Canada. This state-by-state list will help you locate the outlet nearest you.

    Qualifications for “damaged” are liberal. It can mean a missing tag, a microscopic cushion tear or small nick. RH outlet stores do not ship or place items on hold, so you’ll have to show up in person to survey the goods, then buy on the spot.

    7. Buy Floor Models

    Most stores sell floor models for less and RH is no exception. Floor models can be found at the outlets and are not sold in the galleries.

    Purchasing a floor model in good condition can save you money. It might not have quite the same shine as a brand new piece, and it might be necessary to break out the wood repair markers and do a little furniture rehab, but the cost savings will be worth it.

    8. Sign Up for Emails

    Be sure to sign up for Restoration Hardware’s email list to be notified of the next sale. Also, there’s a different registration for outlet-specific emails. 

    Subscribe to both and be the first to know about special promotions.

    9. Connect with RH Enthusiasts

    RH strategically shuns social media, so find your people and build community around your local store, or through groups run by enthusiasts like this Facebook group for RH lovers. How can these communities help you save money? Other enthusiasts are likely to post about a great find and help out when you have questions.

    Similarly, but in person — make friends with the salesperson at your local store. They might be kind enough to place you on a waitlist to let you know when an item is in stock, or on sale.

    10. Buy Used or Knockoffs or DIY a Look-Alike

    Even on sale, most RH goods are not cheap.

    But you can still get Restoration Hardware style without spending RH prices. Here’s how:

    • Search Craigslist and Facebook groups to buy pieces off people who are moving or upgrading to new furniture. Score the best deals toward the end of the month, when people who are moving are eager to clean out their places. You can find gently used RH furniture from Chairish and AptDeco.
    • Find knockoffs at a range of big box stores, including Target, HomeGoods and World Market. There’s even a Decor Lookalikes Facebook group that includes RH fans.
    • Request an RH source book or view online for inspiration and then use Google Images to search less expensive knockoffs.
    • If you’re particularly crafty or handy, get that distressed RH look with a bit of elbow grease and creativity. Check out this Restoration Hardware DIY Pinterest board for ideas.

    Contributor Veronica Leone Matthews is a North Carolina-based freelance writer with 11 years of experience writing for non-profits and higher education. She covers lifestyle topics for The Penny Hoarder. Reporting from contributor Larissa Runkle and former contributor Betsy Mikel is included in this report. 


    veronicalmatthews@gmail.com (Veronica Matthews)

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  • 50/20/30 Budget Is Perfect if You Want to Save but Still Want a Life

    50/20/30 Budget Is Perfect if You Want to Save but Still Want a Life

    Figuring out and sticking to a budget isn’t super fun for most people, but it certainly is a smart way to handle your money.

    The 50/20/30 rule is one of many budgeting plans that help us get spending under control. This plan works well for households where no more than 50% of the money coming in is spent on living expenses. As housing prices rise across the country, this is becoming more difficult for many Americans.

    The 50/20/30 budget plan was popularized by U.S. Sen. Elizabeth Warren of Massachusetts, a bankruptcy expert and creator of the Consumer Finance Protection Bureau, and her daughter, business executive Amelia Warren Tyagi, in their co-authored book, “All Your Worth: The Ultimate Lifetime Money Plan.”

    The book was published in 2006, prior to the Great Recession and the housing bubble burst. Since that time, income inequality has risen, and recently inflation has gotten out of control.

    How to Use the 50/20/30 Budget Plan

    Using this budget plan isn’t particularly difficult but will require you to assess monthly expenses in comparison with household income. The goal of the 50/20/30 budget is to break down your monthly after-tax income and focus your spending in three broad categories: Essential living (50%), financial goals (20%) and personal spending (30%).

    While this budgeting method might have worked for many middle-income families when it was published, the number of households it actually applies to is shrinking. However, if you live in that sweet spot, the 50/20/30 budget can still be a great strategy to implement.

    Essential Living: 50%

    With the 50/20/30 budget, you should spend 50% of your income on essential living expenses. These can include:

    • Rent or mortgage
    • Utilities
    • Groceries
    • Car insurance and/or car payments
    • Phone and internet
    • Gas for your work commute
    • Credit card and loan minimum payments
    • Other: Bills that are essential and probably no fun at all. Examples include prescription medicine or daycare costs.

    Let’s take a closer look at these numbers and see just why they can be so unrealistic for so many people.

    The average American brought in $1,070/week in the third quarter of 2022 That averages out to about $55,650/year, or about $4,637/month before taxes.

    According to Realtor.com, the average rent in October 2022 was $1,734/month across the top 50 metro areas. According to the USDA, a thrifty family of four can currently expect to pay over $967.70/month for groceries. These two expenses alone push you well above the 50% threshold for essential living expenses.

    So if you have utilities? Car payments? Insurance or phone bills? If you’re the average American household — or, heaven forbid, lower-income — you can forget about it. The 50/20/30 budget won’t work for you because your basic expenses take up more than 50% of your take-home pay.

    Financial Goals: 20%

    Let’s say you are lucky enough to have your basic expenses account for 50% or less of your monthly take-home pay. You’d then want to look at your financial goals, allocating another 20% of your monthly budget to the cause.

    Financial goals can include things like:

    • Investments: This includes your 401(k) and all other investments. Don’t have any yet? It’s never too late to start investing.
    • Savings: One of the biggest steps to financial health is having emergency savings so you don’t step backward every time an unexpected expense pops up.
    • Debt-reduction payments: This is for payments on your credit cards, student loans and any other debts that are above the minimum payment.

    Personal Spending: 30%

    This is the category that makes this budget work for the budget-averse — when they have a high enough income, that is.

    Personal spending is all of the stuff you like to spend money on but don’t really need. And at 30% of your monthly income, that can mean a lot of freedom. These expenses can include things like:

    • Dining out
    • Vacations
    • Going out for movies or drinks
    • Netflix and other in-home entertainment options
    • Shopping for clothes, decor, etc.

    Now, here’s where you have to get careful at higher income levels. Let’s say both you and your spouse pull in $200,000/year each. That makes your monthly household income about $33,333/month.

    That means 30% of your monthly budget would be $11,111.

    Could you spend that much on personal spending every month?

    Maybe.

    But odds are you’d really have to try. For high-income households, you’re probably going to want to readjust your percentages so they’re more oriented towards your financial goals rather than pursuing lavish expenses every single month.

    Getting to a place where the 50/20/30 rule could work

    Most people don’t fit into the 50/20/30 budget because their income is too low and their essential expenses are too high. If you find yourself in this boat, here are some things that can help on the saving money side:

    And here are some ways you can side hustle to increase your income:

    When the 50/20/30 Budget Works

    This method works well for those within certain income limits who are new to budgeting, or are put off by rigid spreadsheets.

    Splitting your expenses into these three broad categories will get you thinking about the value of your purchases, while providing flexibility as you find your frugal footing.

    And by building discretionary spending into your financial plan, you’ll be able to enjoy what’s most important to you while you find places to cut spending.

    When the 50/20/30 Budget Doesn’t Work

    For some, the numbers simply won’t add up.

    Maybe you have two jobs and still can’t earn double the price of rent in your area. Maybe your daycare options are limited. Or maybe your student loan debt eats up most of your paycheck.

    For others, you may need to adjust the percentages if you make so much money that 30% on personal spending would be ridiculous.

    If the 50/20/30 budget isn’t for you, that’s OK.

    There are plenty of other budgeting methods to choose from:

    What’s most important is that you zero in on eliminating debt and growing your personal wealth, regardless of the budgeting method you choose to use.

    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. Former Penny Hoarder writer Tyler Omoth contributed to this report. 


    femmefrugality@gmail.com (Brynne Conroy)

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  • You Could Be $160K Richer If You Won All These Contests

    You Could Be $160K Richer If You Won All These Contests

    Cash from national contests can help you pay off debt, finance that dream vacation around the world or send you on a shopping spree in style. But you can’t win the money unless you enter the contests. The odds may be tough but it’s easy to enter online. And, someone has to win, right? Why not good people like you?

    The contests listed here represent about $130,000 in cash prizes and that excludes the Publishers Clearing House SuperPrize. The uber lucky person who scores in that contest brings in $5,000 a week for life — not a bad haul for the few minutes it takes to enter.

    The Time to Enter Cash Money Contests Is Now

    Don’t delay in entering contests to win cash — the more you enter, the greater your chances of walking away with a big fat check!.

    1. HGTV Dream Home 2023

    If you’ve ever watched a young couple with an unbelievable budget searching for their new home on HGTV, chances are you’ve heard of the HGTV Dream Home.

    Every year, the home-focused channel builds a breathtaking home using the biggest names in home design, and then gives it away to one lucky winner. This year’s home is a stunning mountain escape in Morrison, Colorado, less than 20 miles southwest of Denver..

    But it’s not just a one-of-a-kind home you could win. The winner of the HGTV Dream Home 2023 sweepstakes will also win $100,000 from Ally and a brand-new Jeep Grand Cherokee. Sounds fantastic, right?

    You can enter up to twice daily — once on HGTV.com and once on FoodNetwork.com. Simply enter your email address, name, home address, date of birth, and cable service provider into the online form and click “enter.” The winner must be at least 21 years old and live in one of the 50 United States or Washington, D.C.

    The 2023 HGTV Dream Home sweepstakes runs through Feb. 16, 2023.

    2. Fingerhut Sweepstakes

    Fingerhut provides credit to help people buy things they need without dealing with large monthly payments or annual fees. And it also holds an annual sweepstake that awards several cash prizes throughout the year.

    Fingerhut gave away a $25,000 cash prize in June and December and a $10,000 prize in October, and for the remainder of the 2022-2023 contest period, the Fingerhut Sweepstakes is giving away another cash prize in 2023. The entry date is April 30, 2023, to win $10,000.

    To get started, go to www.fingerhut.com and enter your email address. If you don’t have a Fingerhut account, you will be asked to provide some basic information like your name, address and birthday. There are four ways to enter.

    1. Place an order with Fingerhut
    2. Use your Fingerhut account to set up scheduled recurring payments through your WebBank/Fingerhut Fetti Credit Account
    3. Use your WebBank/Fingerhut Fetti Credit Account to make on-time monthly payments
    4. Enter by mail with no purchase necessary

    To enter by mail, send your name, address, date of birth, phone number, and email address to 2022-2023 Fingerhut $70K Sweepstakes, P.O. Box 7748, Melville, NY 11775-7748. The email address must be associated with a Fingerhut account for the entry to be valid. The Fingerhut Sweepstakes are open to U.S. residents aged 18 and up.

    3. Publishers Clearing House SuperPrize Event

    Even if you’re not big into sweepstakes, chances are you have heard of Publishers Clearing House. Rather than just mailing you a check, they show up with a gigantic check and make a big spectacle of awarding it to you.

    You might wonder if this is legit; while there are plenty of copycat scammers around, PCH really does give out giant checks to real people just like you.

    The PCH SuperPrize Event is offering a phenomenal prize of $5,000 a week for life. To enter, simply fill out this form and submit. Winners are notified throughout the year.

    In addition to the SuperPrize Event, PCH has several other sweepstakes, so keep checking the website to see how you can enter to win.

    4. Nielsen $10,000 Monthly Sweepstakes

    Nielsen is known for its audience research, but you might not know that the company also sponsors monthly sweepstakes where you can win a whopping $10,000!

    To be eligible to win, you need to sign up for an account with Nielsen and provide information about your household and the devices you use. Then, you’ll need to download an app to your phone or tablet, or some software to your computer (don’t worry, it’s secure). Your info will be reported to Nielsen so they can see what products and services you use, and they can use your data (along with data from thousands of other participants) to improve these products and services.

    In addition to the chance to win $10,000 every month, you can also earn points that translate into a maximum of $60 per year. You can redeem the points for gift cards to stores such as Amazon and Walmart.

    The sweepstakes take place once per month, so get signed up today for the most chances to win!

    5. Walmart August-October Sweepstakes

    From now until Jan. 27, 2023, you can enter the Walmart Q4 sweepstakes for a chance to win one of five $1,000 Walmart gift cards for the grand prize, or one of 750 $100 Walmart gift cards for the first prize. That’s a total of $80,000 up for grabs in Walmart swag (and you can buy pretty much anything there, so it may as well be cash).

    There are a few ways you can enter to win the sweepstakes:

    • Shop at your local Walmart and complete the survey at the bottom of your receipt for one entry.
    • Complete an online survey for another entry.
    • Send a postcard containing your name, address, phone number and date of birth to 2022 Walmart Sweepstakes, PO Box 228, Macedon, NY 14502-0228. Write-in entries must be postmarked by Jan. 27, 2023, and received by Feb. 2, 2023.

    6. Travel Channel’s New Year New Destination $10K Giveaway

    Although the Travel Channel’s New Year New Destination $10K Giveaway is marketed as a vacation sweepstakes, the actual prize is a check for $10,000. Sure, you can spend it on the trip of a lifetime, but you’re not required to; you can spend it on whatever you want!

    You can enter the sweepstakes twice a day — once at TravelChannel.com and once at InvestigationDiscovery.com — by entering your name and email address and answering a travel-related trivia question that changes daily. If you’re not sure of the answer, you can click for a “hint” and be taken to a Travel Channel article where you can find the correct response.

    The sweepstakes runs until Feb. 7, 2023. Entrants must be at least 21 years old and a resident of one of the 50 United States or Washington, D.C.

    7. T-Mobile Tuesdays

    Every Tuesday, T-Mobile gives away prizes as a thank you to its customers. The prizes vary from week to week and often include free cash.

    To enter via the app, you’ll need to be a customer of either T-Mobile, Sprint or Metro by T-Mobile with a qualifying rate plan. If you’re not a customer, you can still participate by entering your phone number on  this website, followed by your name, email and home address.

    If you want to enter for a chance to win cash and other prizes, you’ll need to be 18 or older (that increases to 21 or older if you’re a Puerto Rico resident).

    There are many more sweepstakes available for entry, with new ones added all the time, so it pays to keep on top of them to increase your chances of winning some of that sweet, sweet cash.

    Ohio-based contributor Catherine Hiles writes about finance, cars, pet ownership and parenting for The Penny Hoarder.


    cat.hiles@gmail.com (Catherine Hiles)

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  • Simplify Your Cleaning Routine with These Salt Hacks

    Simplify Your Cleaning Routine with These Salt Hacks

    Salt is a staple in our kitchens, but you don’t have to limit its use to just flavoring food. It’s a true household workhorse and we’ve found more than two dozen uses for salt beyond the usual culinary ones. 

    Sure, salt makes food taste better. But did you know it’s also great for cleaning because of its absorbent qualities? You can use salt around your home for all sorts of cleanup jobs or even incorporate it in your self-care routine. Salt scrub, anyone? 

    Skip the expensive cleaners and grab some extra salt at the grocery store. We’ve gathered 26 different uses for salt that might surprise you.

    What Type of Salt Should You Use?

    When you think of salt, you probably think of fine-grain table salt, but you might occasionally need sea salt, kosher salt or Epsom salt for these hacks. 

    Iodized table salt is the cheapest option — 26 ounces of Walmart’s Great Value store brand is just $.54 — and the most likely one to be in your cabinet. The finer grains make it a great option for many jobs. 

    Sea salt and kosher salt have larger-grain sizes than table salt. You’ll pay more for kosher salt (about $3 for 3 pounds at Walmart) and sea salt (about the same price for 26 ounces at Walmart). But if you need more abrasion for the task, the price is still cheaper than specialized cleaning products. 

    Epsom salt isn’t actually salt at all, but magnesium sulfate. You can find it in the pharmacy or beauty section for less than $5 for a 4-pound bag.

    26 Uses for Salt Beyond Food

    We’ve rounded up ways to use salt as a cleaning agent, as a beauty and health aid, and a few other surprising uses.

    Using Salt as a Cleaning Agent

    1. Scrub your cutting board.

    Is your cutting board looking a little worse for wear? Use salt and a lemon to get rid of stains from last night’s dinner. Wipe your cutting board with a damp cloth, then sprinkle coarse salt liberally all over it. Slice the lemon in half and use it to scrub the salt into the board. Let it sit for a few minutes, then rinse it all off. Remove any excess moisture with a cloth and stand it up to dry.

    2. Clean your fridge.

    Salt can also be used to clean your fridge. Dissolve a cup of salt into a gallon of hot water to give it a quick clean. You can also use the other half of that lemon to give the water a pleasant scent.

    3. Freshen up your sponges.

    Has your kitchen sponge seen better days? Put ¼ cup of salt in two cups of water and let the sponge soak in the solution overnight to clean it.

    4. Clean a glass coffee pot.

    You can clean old coffee stains off your coffee pot with 4 tsp salt, 1 cup of crushed ice and 1 tablespoon of water. Make sure your coffee pot is at room temperature and mix everything together. Swirl it around until the pot is clean, then rinse.

    5. Clean coffee and tea stains from mugs.

    Once your coffee pot is clean, why not clean out your mugs? Get the inside of the mug wet, add 1 tablespoon of salt and scrub it around with a microfiber cloth. Rinse the mug out with water.

    6. Make a new broom last longer.

    Before you use a broom for the first time, soak it in a solution of one part salt to one part vinegar. Leave it in for 30 minutes and then stand it upside down to dry. This will prevent the broom bristles from fraying.

    7. Erase spots off wooden tables.

    Do you have water rings left on your table? Combine salt with a small amount of water to form a paste. Use a cloth or sponge to rub the paste into the stain until it’s gone.

    8. Remove wine stains from clothes and carpets.

    Blot the stain to remove what liquid you can, then sprinkle kosher salt on the stain. Allow the salt to sit for two or three minutes, then rinse with cold water. If using the salt method on a carpet, you can simply vacuum it up afterward.

    9. Keep your brass bright.

    Restore the shine to your brass and copper items with salt. Combine 1 tsp of salt and 1 tbsp of flour with enough vinegar to form a paste. Rub the brass or copper vigorously on to brass or copper and allow it to dry. Wash the item in warm soapy water and dry with a microfiber cloth.

    10. Clean up your old change.

    Do you have dingy old pennies in your change jar? Mix ¼ cup of vinegar and 1 tsp of salt in a shallow bowl. Soak the pennies for 15 minutes, making sure they aren’t touching. Use a toothbrush to remove any stubborn residue, then rinse the pennies in water and lay them on a cloth to dry.

    Only do this hack if you’re not concerned about coin collecting. The abrasive effect of salt can lower a coin’s value.

    11. Brighten the colors of rugs and curtains.

    Revitalize old rugs by rubbing them with a cloth that has been soaked in salt water. Smaller throw rugs, curtains and clothes can be soaked in salt water before being put in the washer to brighten their colors. Short on time? Throw some salt in with the wash cycle.

    12. Clean your clothing iron.

    Give your iron a quick clean by putting sea salt on a piece of paper, then running the warm iron over it a few times. The dirt will stick to the salt. Allow it to cool, then wipe the salt off the metal plate with a damp cloth.

    13. Deodorize your sneakers.

    Salt can take the smell out of your stinky shoes. Just sprinkle some table salt into the offending pair, let them sit overnight and it will absorb any moisture. Don’t want to put salt directly into your shoes? You can also put the salt into two coffee filters, tie them off with rubber bands and place them in your shoes instead.

    Getty Images

    Salt for Self-Care

    14. Make your own skin exfoliant.

    You can use sea salt, kosher salt, Epsom salt or any other salt in your cabinet to create an invigorating body scrub. Mix the salt with an oil, such as coconut or olive. You can also customize the body scrub by adding essential oils, honey or coffee grounds. Hop in the shower and use your homemade salt scrub to exfoliate your damp skin.

    Only use salt scrubs on your body. The coarser grains aren’t good for delicate skin, so use sugar if you want to make a face scrub.

    15. Treat dandruff.

    If you have a case of dandruff, don’t run to the store for an expensive remedy. Add a tablespoon of salt to your regular dollop of shampoo to exfoliate your scalp. Massage your scalp and shampoo as normal.

    Have some Epsom salt handy? Get your hair wet and massage the Epsom salt into your scalp. Follow up with your regular shampoo and conditioner.

    16. Take a sea salt bath.

    If you don’t have the time to make a body scrub, just throw some sea salt into your bath. It can help relieve skin conditions like psoriasis and eczema, and ease muscle aches.

    Make sure the water temperature is only about two degrees warmer than your skin to help your body absorb the nutrients. Pour in ¼ cup of salt and relax in the tub for 20 minutes. If ¼ cup doesn’t feel like enough, you can experiment with up to 2 cups of salt.

    17. Relieve bee and mosquito stings.

    If you get stung by a bee, reach for the Epsom salt. It reduces swelling and can help expel any stinger pieces that have been left behind. If you’re bitten by a mosquito, a paste made from water and table salt will help soothe the affected area.

    18. Relieve a sore throat.

    Gargling salt water can help with your sore throat and allergy symptoms. Mix ½ tsp of salt with 8 ounces of warm water and gargle for as long as you prefer. Repeat as often as needed. Salt water rinses can also help alleviate canker sores and improve dental health.

    Salt for Pets

    19. Get rid of fleas.

    If your home is experiencing a flea infestation, you can fight them with finely ground table salt. You can grind the salt into a powder using a blender. Sprinkle it on your carpet, furniture or pet bed and allow it to sit undisturbed for 12 to 48 hours. Brush the salt into the fabrics so it gets down into the fibers where flea eggs can hide. Once the waiting period is over, vacuum it up. The salt will dry the fleas out and kill them.

    Just be sure to not allow your pets around the salted area. Salt can be harmful if ingested and can irritate their skin.

    Salt for Outdoor Use

    20. Kill weeds in your sidewalk cracks.

    If you have weeds poking through your sidewalk or patio stones, you can use salt water to kill them. If other plants are around the weeds, use a weak mixture of 3 parts water to 1 part table salt. If the weeds are by themselves or the quality of the soil isn’t an issue, you can make a stronger solution. Use a spray bottle to apply the saltwater to the weed’s leaves.

    Need a stronger solution? Add dish soap and white vinegar to make it more effective. Repeat every few days.

    21. Kill Poison Ivy

    If you found some poison ivy while tackling your weeds, salt can take care of that too. Mix 3 cups of salt, ¼ cup of dish soap and 2 cups of hot water. Spray it on the plant every few days until it dies.

    22. Remove rust.

    Are your garden tools looking a little rusty? Rub salt over the rusted area, then squeeze lemon juice onto the salt. Let sit for two hours and then scrub the mixture off.

    Salt sits in a small brown wooden bowl.
    Getty Images

    Salt for Other Household Solutions

    23. Keep fruit from browning.

    You can sneak some apple or pear slices into lunch boxes and they won’t brown if you soak them in salt water after cutting them. Use ½ teaspoon per one cup of water and soak the fruit for five minutes, drain and store.

    24. Test eggs for freshness.

    We’ve all been there — sometimes eggs don’t get used by the “best by” date. You can test the freshness of your eggs by placing them in cold saltwater. If the egg is still usable, it will sink to the bottom. Eggs that have gone bad will float.

    25. Make cut flowers last longer.

    Make that bouquet last longer by putting 1 tbsp of Epsom salt in its water. Epsom salt contains magnesium, which helps plants absorb nutrients.

    26. Put out a grease fire.

    If you happen to accidentally start a grease fire, liberally douse it with salt. Aim directly above the fire so the flames don’t leap out. You can also use it on your outdoor bonfire to help snuff out the embers.

    Contributor Jenna Limbach writes on financial literacy and lifestyle topics for The Penny Hoarder from her home base in Utah. 


    jlimbach19@gmail.com (Jenna Limbach)

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  • How to File Taxes: A Pain-Free Guide for the First-Timers and Everyone Else

    How to File Taxes: A Pain-Free Guide for the First-Timers and Everyone Else

    There is a lot to know when it comes to filing taxes. Our complete guide for the 2022 tax year (filing in 2023) should help. Ibuprofen sold separately.

    How Much Do You Have to Make to File Taxes?

    Making more money is, in almost every way, a good thing. But it’s also true that the more money you make, the more taxes you’re required to pay — at least up to a point.

    On the opposite end of the spectrum, you may be exempt from filing a federal income tax return if you don’t meet the IRS income threshold, which can change.

    2022 Tax Year

    You need to file a 2022 federal tax return by April 18, 2023, if your income exceeded the amounts listed below. The traditional tax deadline is April 15, but because it falls on a Saturday, the IRS extends the deadline to the next business day. Monday, April 17, is Emancipation Day, giving filers until Tuesday, April 18, to submit their returns.

    Single tax filers or married filing separate tax returns

    • $12,950 if you’re under 65.
    • $14,700 if you’re 65 or older.

    Married filing jointly

    • $25,900 if both spouses are younger than 65.
    • $27,300 if one spouse is younger than 65 and the other spouse is 65 or older.
    • $28,700 if both spouses are 65 or older.

    Head of household

    • $19,400 if you’re under 65.
    • $20,800 if you’re 65 or older.

    Qualifying widow or widower with a dependent child:

    • $25,900 if you’re under 65.
    • $27,300 if you’re 65 or older.

    The best way to determine whether or not you need to file a tax return is to use the IRS’s free online tool, which takes about 12 minutes to get a definitive answer.

    Pro Tip

    Even if you won’t owe taxes, it’s a good idea to file. You may even qualify for the Earned Income Tax Credit, meaning you could pocket cash from the IRS. But you only get it if you file.

    How Are Your Taxes Calculated?

    All right, so you’ve successfully determined whether you’re required to file a federal tax return.

    Now for the real fun: figuring out exactly how much you owe — or are owed.

    Your taxes are calculated based on a range of personal details, like how much money you made in a given tax year, how much you’ve already paid in taxes, your marital status and how many dependents you have.

    Your federal income tax is determined according to income brackets, which scale up in percentage as your overall income increases. For 2022 (filing in 2023) and 2023 (filing in 2024), there are seven federal income tax brackets, ranging from 10% to 37% of your income. Unmarried and married individuals (and heads of household) have different levels of taxable income that determine their tax brackets.

    Along with federal income taxes and your contributions to Social Security and Medicare, you’ll also be responsible for state and local taxes. Each year, you must file a state tax return, unless you live in one of the nine states that don’t levy them. Those states are:

    • Alaska
    • Florida
    • Nevada
    • New Hampshire*
    • South Dakota
    • Tennessee
    • Texas
    • Washington
    • Wyoming

    *New Hampshire does not have traditional income taxes on W-2 wages, but the state does assess a small tax on dividends and interest, though this is set to phase out in 2027.

    The other states’ rates run from as much as 13.3% (California) to as little as 3.07% (Pennsylvania) and may vary by income or be assessed at a flat rate.

    Note: States without income tax typically make up for it in higher sales tax rates, especially for items like tobacco and alcohol. Tennessee charges the most with a statewide 7% sales tax. Louisiana has a 4.45% sales tax, but individual localities can tack on as much as 7% more for a total of 11.45%.

    Depending on where you live, you might also have to contend with local taxes and even school district taxes. Some cities only have one, but some homeowners might find they are double-taxed: once by their town and once by their school district, even if they don’t have kids attending.

    Deductions and Credits

    You may be eligible for certain tax deductions, such as student loan interest payments. Tax deductions can add up and cut a nice chunk off of what you’d otherwise owe to the IRS, sometimes substantially increasing your refund by reducing your total taxable income.

    This is especially true if you’re a freelancer, in which case you may be able to take a home office deduction.

    Note: With more people working at home because of the pandemic, there may be heightened interest in this. Check with a tax advisor but know that if you are employed and received a W-2 but are working from home, you probably can’t claim a deduction. The home office deduction is generally reserved for self-employed or gig workers.

    You could also deduct the interest paid on your mortgage, charitable donations and more. Or, it may be in your best interest to take the standard deduction, which, for 2022, is a pretty generous $12,950 for single filers ($19,400 for heads of household or $25,900 for those married and filing jointly).

    There are also certain tax credits you may be eligible for, such as the American Opportunity Credit, which offers eligible students up to $2,500 per year to offset college expenses, or the Child Care Credit, which offers eligible guardians up to $2,000 apiece to offset the expense of supporting a dependent.

    Tax credits differ from deductions: While a tax deduction reduces your income subject to taxes, a tax credit reduces what you owe the government, dollar for dollar.

    Doing the Math

    If you’re a first-time tax filer, chances are your situation won’t be too complex. You’ll likely be able to get away with the simplest version of IRS Form 1040.

    This document uses information about your income, withheld taxes, marital status and dependents to determine whether you’ll be writing or receiving a check.

    Most people will fill this out using their W-2 as a guideline, which is a document issued by your employer.

    Your W-2 lists your total earned wages and withholdings, including federal income tax, Medicare and Social Security. It’s distributed by employers no later than Jan. 31, and these days, the documents are often sent digitally.

    The self-employed person’s equivalent of a W-2 is a 1099, although these documents don’t include information on tax withholding — because independent contractors are responsible for doing that themselves. Contractors should be paying quarterly estimated taxes to Uncle Sam to avoid any fines come tax season. More on this below.

    The more complicated your financial landscape is, the more complicated your filing will be, and the more forms you’ll need to add to your pile.

    For example, if you have additional sources of income through capital gains, unemployment compensation, gambling or prizes, you’ll need to file a Schedule 1 along with your 1040.

    There are also additional forms for those who owe self-employment tax or can claim a refundable credit. (The IRS helpfully lists some of the most common additional filing scenarios, and the necessary documents, on its “About Form 1040” page.)

    Of course, dragging out your calculator and working out your tax burden longhand is only simple in theory, even under the most straightforward circumstances — which is why many people turn to tax filing software or professional services to help make taxes less of a chore. These costs range from a few bucks on a digital filing upgrade to putting an accountant on retainer.

    If you are worried about making mistakes while filing or if your tax situation is any more complicated than a basic W-2, we highly recommend using tax software like TurboTax. And if your scenario is exceedingly complex for even tax preparation software, consider an actual accountant, who can help not just with your federal tax return but also your state and local tax returns.

    Getty Images

    How to File Your Taxes

    Now that you’ve got the hard part out of the way, it’s time to put away the calculator and actually file your income tax return. You’ve got a number of options, some of which are more convenient (and costly) than others.

    You may:

    E-File Using the IRS Free File Tool

    The Free File tool is a good option for those with relatively straightforward taxes, especially if your adjusted gross income is less than $73,000. You receive guided tax preparation and free federal filing — and sometimes state, depending on where you live. (Those with an adjusted gross income of more than $73,000 can still use the Free File tool, but you won’t receive any guidance, and state tax prep is not available.) If your adjusted gross income is higher than the cut off, we recommend foregoing Free File and instead opting for tax software like TurboTax or an actual accountant.

    You can use the IRS Free File option online with guided tax preparation, or you can use Free File at an IRS partner site (TurboTax and H&R Block famously dropped out of the program in 2020). Note that you cannot begin the Free File process on an IRS partner site; begin the process at IRS.gov to qualify. You can also try Free File at home, with pen and paper, using the Free File Fillable Forms (say that five times fast).

    You cannot use Free File to complete a prior year tax return.

    E-File Using a Private Tax Preparation Software

    Some of the most common tax filing software options include TurboTax, TaxAct, and H&R Block. Most of these tax preparation services offer a free file option (though TurboTax and H&R Block no longer participate in the IRS Free File program), and they make the process super simple: Just fill out some forms, click some buttons, and your tax is sent.

    The free file service goes for basic federal and state taxes. This makes it more comprehensive than the IRS tool, but if you have to file a local tax return, you’re still on your own for that. And if your financial situation is more complex — for example, income including mortgage interest or rental property profit — you may have to move into a paid tier. Be prepared to pay extra as well if you’d like tax advice from an actual professional.

    A caveat: Most customers begin using a service like TurboTax after hearing it’s free, but TurboTax and similar tax software are only truly free for a handful of customers with very basic tax returns. The moment you introduce some complexity into your federal tax return, these tax preparation services will start adding dollar signs to your total.

    Old-School Using Paper Tax Filing

    That’s right: You can still send actual, hand-filled-out paper forms to the IRS in the mail. Paper tax filing is pretty cheap, of course, but it’s also an easy way to make errors on your return if you’re not a tax wizard. But if you’re confident in your calculator-fu, here’s the full list of IRS mailing addresses by state.

    Keep in mind that the IRS has had a huge backlog of paper returns ever since COVID-19 and openly discourages paper filing on its website. Many people waited months to get their tax refund in recent years, whereas over 90% of returns filed online are processed within 21 days.

    Hire a Professional Tax Preparer

    Although it’s easily the most expensive move on this list, using a tax preparer is also the least stressful — and if you make enough to cover it without too much budgetary shuffling, it might just be worthwhile. A certified accountant or tax preparer can ensure you get the most generous refund possible (they’ll chase down every tax credit and tax deduction possible) and can offer tax advice along every step of the journey. Should you get audited for a year that you sought professional help, that firm can step in and assist. And best of all, your calculator can stay firmly ensconced in its layer of dust.

    Tax preparation fees can vary based on the complexity of your situation (and number and types of forms involved) and on your location; in general, tax preparation fees for basic filing average a little over $200.

    If You Owe Money

    If you owe taxes, you can pay through the digital system via direct transfer from your bank account or by credit card. You can also mail off a paper check to the correct address for your state.

    But let’s keep the glass half full and assume the government owes you money. You can set up direct deposit to your bank account for the fastest refund, but you can also request a paper check in the mail. In recent years, refunds from federal tax returns have been delayed when paid via mail due to the ongoing pandemic; if at all possible, opt for direct deposit.

    A man does paperwork in his home office.
    Getty Images

    Common Tax Mistakes — And How to Avoid Them

    It’s important that you file your income taxes correctly and on time or else risk penalties. If you think you’re going to be late, you can file for an extension — but never count on it being granted.

    Pro Tip

    Even if you get an extension, you still have to estimate and pay your taxes by the deadline. If you suspect you’ll owe money — rather than be owed money — it’s safer just to file and pay on time.

    Here are some of most common mistakes people make when filing income taxes and our advice for avoiding them:

    Mistakes When Calculating

    Hey, you’re not a robot. You might know your multiplication tables as well as the next guy, but we’re all human and make mistakes. And you know who doesn’t like mistakes? The IRS.

    How to avoid this: Use a calculator when filing your taxes by hand. Better yet, use the IRS Free File option, let a tax preparation service like TurboTax do the calculations for you, or leave it to a tax professional with an even more sophisticated bit of software at their disposal.

    Mistakes When Filing

    When you file your federal income taxes, you’ll have a couple of key choices to make: 1) standard or itemized deduction and 2) filing status. Married couples in particular need to weigh the pros and cons of filing jointly or separately.

    Because there can be major implications (like how and if you can contribute to tax-advantaged retirement accounts or how student loan companies with income-based payment plans will view your income), you need to really think through your filing status.

    How to avoid this: A financial advisor or professional tax preparer is your best bet when making these more challenging decisions. Their software should also be able to help you see how much you’ll save with an itemized vs. standard deduction.

    Personal Finance Mistakes

    Don’t get too scared when you read this, but the decisions you’re making all year long can have major tax implications. Write a check to the Humane Society but forget to get a receipt? Start a new job but choose the wrong withholding status when filling out paperwork? Driving your car for a freelance gig but not correctly capturing the mileage? These are all things that could come back to bite you when you go to file your taxes.

    How to avoid this: Be proactive when it comes to personal finance. Remember to keep records of all charitable giving, be aware of your proper withholding status whenever your paycheck changes (due to a new job or a raise) and be diligent about logging expenses if you run your own side gig.

    Self-Employment Mistakes

    If you juggle a side hustle, have a growing base of freelance clients or run your own business, you have special tax needs that, in most cases, require help from a tax professional. Mistakes for the self-employed can run the gamut, from not paying enough in estimated taxes (or not paying them at all) to not setting aside enough funds to cover what they end up owing — because of the dreaded self-employment tax.

    How to avoid this: Find an accountant and ask them to help you calculate your quarterly tax payments. Most tax preparers will print vouchers for your quarterly payments with instructions on how and when to pay them. Make sure you always set aside roughly a third of any freelance income for taxes because, on top of your regular income tax burden as an employee, you’ll also have to cover the employer burden.

    Pro Tip

    Be sure to account for your state taxes, as well, which may need to be shipped to a different address — which you’ll find on your state’s official taxation and revenue department website.

    For many filers, all this paperwork does have a silver lining: a tax refund check, just in time for summer. Or at least we hope the IRS is back on track with timely returns after the long delays of 2022.

    Timothy Moore covers banks, taxes and insurance for The Penny Hoarder. Reporting from Jamie Cattanach is included in this report.


    tmoorefreelance@gmail.com (Timothy Moore)

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  • SoFi Checking and Savings Review 2023: Online Cash Management

    SoFi Checking and Savings Review 2023: Online Cash Management

    SoFi is the brainchild of a few Stanford University business students who wanted to tackle the student loan debt issue in the United States by making it easier for borrowers to refinance student loans.

    The founders later expanded SoFi’s focus to include several financial products and services, including online banking through SoFi Money. Currently, SoFi Money is now branded as SoFi Checking and Savings thanks to the company’s approval for a bank charter in early 2022. Today, SoFi offers many banking services with great benefits for consumers with or without student debt.

    SoFI Checking Account Features

    When you sign up for SoFi Checking and Savings, you open both a checking and a savings account and both are FDIC-insured with access to the same benefits from SoFi. SoFi does not offer standalone checking or savings accounts.

    SoFi Checking Account

    Best for SoFi Loan or Invest Customers

    Key Features

    • 2.00% APY
    • Up to 15% cash back from local businesses
    • No-fee overdraft protection up to $50

    SoFi Checking and Savings covers nearly everything you need in an online bank account, with no monthly maintenance fees, a network of 55,000 fee-free Allpoint ATMs, no-fee overdraft protection up to $50, an aggressive APY for both savings and checking accounts, a cash-back debit card and an early payday with direct deposit. It connects with other SoFi products, so you can use it to automate investments or make loan or mortgage payments.

    SoFi Checking Account

    Monthly fees

    None

    ATM access

    Fee-free at 55,000 Allpoint ATMs

    Customer service

    24/7 Virtual chat, Email, Twitter or by phone with limited hours

    Prime perk

    Up to 15% cash back with local merchants

    More About SoFi Checking

    SoFi has many attractive features as a checking account. Coupling a SoFi checking account with its other SoFi money accounts like automated investing and student loan refinancing can help consumers get the most out of the SoFi ecosystem.

    You can earn up to 15% cash back at participating local retailers when you pay with your SoFi debit card, but unlike other credit and debit cards, SoFi does not offer a general cash back option for all your purchases.

    SoFi checking accounts come with these transaction limits that could make it tough to use as a primary spending account:

    • Withdrawal limits: $1,000 per day total, $150 over-the-counter cash withdrawal
    • Peer-to-peer transfers: $3,000 per month
    • Point-of-sale (cash register) transactions: 12 per day
    • Point-of-sale spend limit: $6,000 per day

    Still, a SoFi money checking account gives you access to a debit card and gives you the option to order checks. Individual and joint accounts are available, which is rare among online banking accounts.

    SoFi offers fee-free overdraft protection up to $50 as long as you receive at least $1,000 in direct deposits.

    To open a SoFi Checking and Savings account:

    1. Become a SoFi member by creating an account online or through the app with a valid email address.
    2. Open a Checking and Savings account through your dashboard. You’ll need to enter your mailing address, phone number, birth date and Social Security number.
    3. You can open an account with no minimum opening deposit and pay no account maintenance fees.
    4. Set up direct deposit or a recurring transfer of at least $1,000 to qualify for overdraft protection.

    More About SoFi Checking

    SoFi has a lot of attractive features as a checking account. It might be most appealing to SoFi customers who use its other products, like automated investing and student loan refinancing.

    You’ll earn up to 15% cash back at participating local retailers when you pay with your SoFi debit card, but SoFi doesn’t offer a general cash back option for all your purchases.

    Unlike most checking accounts, SoFi accounts come with these transaction limits that could make it tough to use as your primary spending account:

    • Withdrawal limits: $1,000 per day total, $150 over-the-counter cash withdrawal.
    • Peer-to-peer transfers: $3,000 per month.
    • Point-of-sale (cash register) transactions: 12 per day.
    • Point-of-sale spend limit: $6,000 per day.

    Still, your account gives you access to a debit card and gives you the option to order checks. Individual and joint accounts are available, which is rare among online banking accounts.

    SoFi offers fee-free overdraft protection up to $50 as long as you receive at least $1,000 in direct deposits.

    To open a SoFi Checking and Savings account:

    1. Become a SoFi member by creating an account online or through the app with your email address.
    2. Open a Checking and Savings account through your dashboard. You’ll need to enter your mailing address, phone number, birth date and Social Security number.
    3. You can open an account with no minimum opening deposit and pay no account maintenance fees.
    4. Set up direct deposit or a recurring transfer of at least $1,000 to qualify for overdraft protection.

    SoFi Savings Account Features

    When you sign up for SoFi Checking and Savings for your checking account, you’ll also get a free savings account. Here’s an overview of its savings features.

    SoFi Savings Account

    Best for Accessible Savings

    Key Features

    • 2.00% APY
    • No fees
    • No monthly withdrawal limits

    A SoFi Checking and Savings membership comes with access to both a checking and savings account, and the perks apply to your balance on both accounts. When you sign up for direct deposit into either account, you’ll get up to 2.00% APY on both accounts.* And you can grow your savings automatically with goal-based vaults and round-ups from your debit card purchases.

    SoFi Savings Account

    Fees

    None

    Balances

    No minimum or maximum

    Monthly withdrawal limits

    6

    Prime perk

    Up to 3.50% APY

    More About SoFi Savings

    Both SoFi Checking and Savings come with the same benefits so you don’t have to worry about which bucket your money is in.

    You’ll earn 3.50% APY on a total balance across accounts as long as you sign up for direct deposit (with no minimum deposit requirement). If you don’t use direct deposit, you’ll earn 1.20% APY on all balances.

    The downside to having your checking and savings seamlessly connected is that your savings are easily accessible, which can make it easy to dip into that account instead of letting it sit and grow. 

    The upside: The account structure makes your money more accessible through SoFi than in a traditional savings account, so you can build your savings knowing you can get to the money anytime if you need it.

    Cash in SoFi Checking and Savings individual accounts is FDIC insured up to $250,000 and cash in SoFi Checking and Savings joint accounts is FDIC insured up to $500,000 through SoFi Bank, N.A.

    More About SoFi Savings

    Both of your accounts with SoFi Checking and Savings get the benefits, so you don’t have to worry about which bucket your money is in.

    You’ll earn 2.00% APY on a total balance across accounts as long as you sign up for direct deposit (with no minimum deposit requirement). If you don’t use direct deposit, you’ll earn 1.00% APY on all balances.

    The downside to having your checking and savings seamlessly connected is that your savings are easily accessible, which can make it easy to dip into that account instead of letting it sit and grow.

    The upside: The account structure makes your money more accessible through SoFi than in a traditional savings account, so you can build your savings knowing you can get to the money anytime if you need it.

    Cash in SoFi Checking and Savings is FDIC insured up to $250,000 through SoFi Bank, N.A.

    Pro Tip

    Check out our current list of bank promotions for a chance to gain a monetary bonus when signing up for a new bank account.

    Other SoFi Products

    The most attractive benefit to signing up for a SoFi money account online is becoming a member of the greater SoFi money ecosystem.

    SoFi members are anyone who uses a SoFi product, like Checking and Savings. As members, consumers get exclusive benefits like member-only financial planning events and member rate discounts on SoFi loans.

    • Personal Loans: Apply for a personal loan for things like student loan refinancing, credit card consolidation or home improvement. SoFi only offers fixed-rate personal loans for amounts between $5,000 and $100,000 with fixed rates as low as 7.99% APR. You can check the rates you may qualify for by creating a SoFi account and entering the amount you want to borrow. Checking rates with SoFi will not affect your credit score.
    • Mortgages: Take out a home loan or refinance an existing mortgage through SoFi with as little as 3% down. You’ll save $500 on mortgage processing fees for being a SoFi member. SoFi also facilitates home equity lines of credit, allowing members to access up to 95% or $500,000 of their home’s equity.
    • Investing: SoFi Invest is a brokerage account that lets you invest in stocks, ETFs and cryptocurrency right through the app. You can set up automated investing and let SoFi experts choose your portfolio for you or you can choose what to invest in. SoFi also offers Roth, traditional, and SEP IRAs to help you save for retirement. You can fund your SoFi investment account using a SoFi Checking and Savings account or an external checking or savings account.
    • Credit Card: The SoFi World Elite Mastercard is designed to help you achieve financial goals along with other SoFi products and accounts. You’ll earn 2% cash back if you redeem it to save into a SoFi savings account, invest through SoFi Invest or pay down a SoFi loan or mortgage. Or earn 1% cash back if you redeem the reward as a statement credit.
    • Insurance: Through SoFi Protect, you can be matched with affordable life, auto, homeowners and renters insurance. In most cases, you can apply and sign up online without speaking to an agent or facing a medical exam.
    • Career Services: SoFi members can work one-on-one with a complimentary career coach to pave a path toward career and financial success. Career coaches provide guidance on career transitions, networking, building a resume and LinkedIn profile, negotiating, and personal branding.
    • Financial Planning Resources: Members can make a free appointment with SoFi financial planners to get professional financial advice on anything from basic money management to retirement planning. SoFi also provides resources to educate you on debt, lending, money management, and investing, plus SoFi provides calculators to help you plan for borrowing and repaying debt.

    SoFi Checking and Savings Fees

    SoFi boasts no fees across their services and they mean it.

    • No third-party ATM fees
    • No monthly fees, like an account maintenance fees or minimum balance fees
    • No overdraft fees up to $50
    • No foreign transaction fee
    • No fee for a replacement card
    • No bill pay fees
    • SoFi covers foreign conversion fees

    Fee structures are subject to change, but you can take comfort in knowing the lack of fees at SoFi is one of the most attractive features of online-only banking.

    SoFi Customer Experience

    SoFi offers online-only services, so you won’t find a brick-and-mortar SoFi branch or even any SoFi-brand ATMs.

    Cash Management

    Customers do all their cash management through the app or website, plus nationwide at SoFi’s network of 55,000 fee-free ATMs. SoFi Checking and Savings account holders have access to these basic checking account features:

    • Deposits: Set up direct deposit from your paycheck or recurring transfers from another bank account to automate your savings and grow your account balance. You can make cash deposits at participating Green Dot vendors with limits of $500 per transaction, $1,000 per day, $3,000 per week, and $5,000 per month.
    • Mobile check deposit: Still get a paper paycheck (or a birthday check from your aunt)? Deposit it from anywhere using the SoFi app on your smartphone or tablet with a camera.
    • Cash withdrawal: Use any ATM to take out cash when you need it with your SoFi debit card. You’ll pay no fees at more than 55,000 Allpoint ATMs nationwide and SoFi reimburses out-of-network ATM fees.
    • Digital payments: Link your SoFi checking account to PayPal or Venmo to receive payments.
    • Bill pay: Pay bills up to $10,000 per transaction directly from your SoFi checking account.

    Mobile App

    As an online-only institution, SoFi’s suite of digital tools is optimized for user ease and stacked with features like easy account transfers, bill pay and even budgeting tools.

    SoFi banking happens primarily through the SoFi app, which is free to download for smartphones and tablets. Customers give the app 4.8 out of five stars in the Apple App Store and 4.0 out of five stars on Google Play.

    The SoFi app lets you sign up for and access all SoFi products including Checking and Savings and free budgeting and money tracking tools.

    Through the app, you can:

    • See your checking and savings account balances and transaction history.
    • Deposit money with mobile check deposit.
    • Transfer funds to and from a linked financial institution or between accounts.
    • Freeze and unfreeze your debit card.
    • Chat with customer support.
    • Monitor your TransUnion VantageScore credit score.
    • Connect other financial accounts to track your spending and savings in one place.
    • Access SoFi’s other financial products and services.

    Customer Service

    SoFi customer support is available through email, Twitter or by phone with limited hours.

    • Phone number: (855) 456-7634, available Monday through Thursday 5 a.m. to 7 p.m. and Friday through Sunday 5 a.m. to 5 p.m. Pacific.
    • Chat 24/7: Log into your account online or through the app.
    • Twitter: @SoFiSupport
    • Email: SoFi only provides an email for home loans: [email protected] 

    Is SoFi Right for You?

    SoFi Checking and Savings could be a perfect replacement for your primary checking or money market accounts, plus a good fit for short-term savings and managing money you want to invest through SoFi.

    SoFi could be a fit for you if:

    • You need access to SoFi’s other money products including loans, investing, career advice and free financial planning.
    • You have short-term savings goals such as vacation savings, home down payment, buying a car or holiday shopping
    • You receive a regular paycheck via direct deposit
    • You prefer to do your banking online or through a mobile app

    SoFi might not be a fit for you if:

    • You prefer in-person service from local bank tellers or loan agents
    • You’re frequently or primarily paid in cash
    • You have no need for additional products and services like mortgages, debt consolidation, student loan refinancing or financial planning
    • You have a high volume of daily transactions, like if you travel or shop a lot
    • You need small business banking
    • Your savings goals are mostly long term, like retirement or college savings

    Pros and Cons of Sofi Checking and Savings

    We’ve rounded up pros and cons about SoFi Checking and Savings to help you decide if this personal finance company is right for you.


    Pros

    • No minimum opening deposit
    • No maintenance fees
    • No overdraft fees
    • Free ATM access in-network
    • Slick app with a lot of features
    • High-yield accounts offering up to 3.50% APY


    Cons

    • Restricting transaction limitations
    • No business banking options
    • No brick-and-mortar banking options

    Frequently Asked Questions (FAQs) About SoFi

    Here are our answers to some common questions about using SoFi Money.

    Social Finance, Inc. (SoFi for short) is based in San Francisco and has been operating in the personal finance space since 2011. It is highly respected in the financial industry and loved by customers for its mobile-first and social approach to managing money.

    The company maintains industry-standard security measures to protect users’ personal and financial information, including bank-level encryption and two-factor authentication.

    The money in your SoFi accounts is FDIC insured up to $250,000 for individual accounts and up to $500,000 for joint accounts through SoFi Bank, N.A.

    There are hardly any fees with most SoFi products. With a SoFi Checking and Savings account, there are no ATM fees, monthly maintenance fees, overdraft fees or foreign transaction fees. You won’t even pay to replace a stolen or lost debit card or to pay bills through the app, and SoFi covers any foreign conversion fees.

    How Long Does SoFi Take to Deposit Money?

    When you sign up for direct deposit into your SoFi checking account, you’ll have access to your money up to two days before your normal payday. SoFi releases the funds into your account as soon as the payer initiates the deposit, rather than waiting for the scheduled payday.

    Yes, as of January 2022, SoFi operates a nationally chartered bank, SoFi Bank, N.A., a member of the Federal Deposit Insurance Corporation (FDIC). SoFi Technologies, Inc. also operates Social Finance, Inc., a financial technology company that produces the SoFi platform and connects members with third-party financial services and other benefits. Members who use SoFi Money, the predecessor to SoFi Checking and Savings, may still have money held by partner banks until transitioning to the new account.

    SoFi is not compatible with Zelle. However, it offers its own peer-to-peer payments option that lets you send money to anyone in your address book. Recipients who also use SoFi will get the money instantly and others will get it in one to two business days.

    *SOFI CHECKING & SAVINGS APY DISCLOSURE

    SoFi members with direct deposit can earn up to 2.00% annual percentage yield (APY) interest on all account balances in their Checking and Savings accounts (including Vaults). Members without direct deposit will earn 1.00% APY on all account balances in Checking and Savings (including Vaults). Interest rates are variable and subject to change at any time. Rate of 2.00% APY is current as of 08/12/2022. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet

    Contributor Dana Miranda is a Certified Educator in Personal Finance®. She’s written about work and money for publications including Forbes, The New York Times, CNBC, Insider, NextAdvisor and a column for Inc. Magazine. She founded Healthy Rich to publish stories that illuminate the diversity of our relationships with work and money. Freelancer Kristin Jenny contributed to this report. 


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

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  • Ease the Inflation Squeeze: How to Combat Inflation in 2023

    Ease the Inflation Squeeze: How to Combat Inflation in 2023

    Inflation peaked at more than 9% in 2022, and we’re heading into 2023 with numbers almost as grim (7.7% over this time last year). This unprecedented increase in the cost of living is hitting our wallets at almost every transaction, but the prices of food and gas — two basic expenses we need to survive — are especially high.

    So how do we fight inflation? The easy answer is to cut expenses, earn more money and make smarter short- and long-term investments. But in a tough economy with mass layoffs and surging housing costs, how can we actually do this?

    32 Ways to Fight Inflation in 2023

    Experts at the Federal Reserve are predicting a 3.1% drop in inflation in 2023, and Morningstar has an even brighter outlook: an average 2.6% inflation rate between 2022 and 2026, just 0.6% over the 2% target set by the Federal Reserve.

    That would mean the rising prices in 2022 represent the peak of this spike, and we’re on our way down.

    But just how fast inflated prices will fall is up for debate. In the meantime, American families are looking for ways to cut expenses and earn more money.

    Here are 32 ways you can combat inflation until prices drop:

    1. Make a Budget

    The first step to cutting back expenses? Understand how much you’re spending now.

    Create a monthly budget that accounts for all your necessary expenses and discretionary expenses. Then you can pinpoint specific spending areas — like grocery shopping, dining out, subscription services or utilities — that are potential candidates for cutting back.

    Not sure where to start? Check out our step-by-step guide to building a budget, or download one of these top budgeting apps.

    2. Pay Down Your Debt

    The higher inflation gets, the harder it will be to pay off high-interest debts. As much as you can, put extra cash toward paying down debts, starting with the loan that has the highest interest rate.

    If you’re struggling with multiple payment dates and interest rates, think about a balance transfer credit card or debt consolidation loan.

    3. Share Resources with Neighbors

    Getting to know your neighbors can be helpful and pleasant. While it’s nice to have someone to chat with over the fence, neighbors can also be a great resource in a pinch — as long as you help them when they need it, too:

    • Need a cup of flour or a couple eggs? Don’t waste the gas to go to the supermarket; your neighbor may have food to spare.
    • Want a night out? Trade babysitting services with a trusted neighbor.
    • Tackling an unusual home renovation project? Don’t buy an expensive tool if your neighbor is willing to let you borrow theirs.

    4. Become a Vegan

    Food prices are up nearly 11%, outpacing most other areas of rising inflation. Meat’s actually not the highest increase (about 8%), but dairy products have surpassed 15%. The solution? Embrace the vegan lifestyle.

    Most of us probably can’t give up our meat and cheese completely, but by reducing the amount we consume (try out “Meatless Mondays”!), we can reduce our grocery bills.

    New to vegan cooking? Try these 10 cheap vegan meals at home.

    5. Save Money on Produce

    High food prices go beyond meat and dairy. The average price of fruits and vegetables is currently up more than 9%.

    But if the food pyramid taught us anything, it’s that fruits and vegetables are important. So how can you buy produce when inflation threatens your buying power?

    • Purchase frozen and canned produce to avoid food waste; fresh produce is great but goes bad quickly.
    • Only buy fresh produce in season when costs are lower.
    Getty Images

    6. Buy in Bulk

    Buying in bulk can save you money, as long as you’ll use the items before they go bad. Focus on items like meat that you can freeze, frozen foods and non-food items like diapers and paper towels.

    When you buy in bulk, you’ll make fewer runs to the grocery store — a great way to cut down on fuel costs.

    Pro Tip

    Pay attention to the cost per unit. While bulk items have a higher price tag, you’ll usually get more product for every cent spent.

    7. Cook What You Have in Your Pantry

    Another way to beat inflation at grocery stores? Don’t go every week.

    Your routine might include a weekly trip to the supermarket to stock up on food, but you might have enough in your fridge and pantry to last longer.

    For 2023, try the Pantry Challenge once a month to see if you can cut back on grocery shopping. Just make sure you have these 11 pantry essentials before starting.

    8. Meal Prep

    Having a busy schedule can make it tempting to rely on the drive thru at lunch and takeout for dinner, but eating out in any form is expensive. Set aside an hour every week to prep meals for yourself using inexpensive foods you have around the house.

    Don’t be intimidated if you’re not great in the kitchen. Here’s how to start meal prepping even if you’re a beginner — and don’t forget to check out our tips for meal planning on a budget.

    9. Buy Generic Brands

    Name brands have slick marketing campaigns and fun mascots that tempt us into buying their products. Often, store brands offer the same quality — but at a lower price. Shopping generic is one of the easiest ways to beat inflation.

    Pro Tip

    While store brands are usually cheaper, special campaigns may mean you’ll save money on a name brand during a promotion or sale.

    10. Take Pictures of Your Receipt

    Download apps like Ibotta or Fetch to earn extra cash when you shop. Though you won’t get rich off these programs, you can get a few bucks back when you shop at certain stores and submit a photo of your receipt.

    11. Use Coupons

    The days of coupon clipping are far from dead. Going through weekly coupons may seem tedious, but you can flip through weekly ads to find great deals while watching TV.

    Pro Tip

    Many grocery chains also offer digital coupons when you join their loyalty programs.

    12. Skip Food Delivery

    Grocery delivery is convenient — and food delivery services like Uber Eats and DoorDash are tempting when it’s cold outside — but these apps make the cost of groceries and takeout way more expensive.

    Instead, find grocery stores with free curbside pickup and drive to restaurants to get your takeout order.

    A woman stretches in her house while doing yoga.
    Getty Images

    13. Focus on Your Health

    While food and gas are the top two areas affected by inflation, healthcare costs are also on the rise. McKinsey estimates US healthcare expenses will be $370 billion higher by 2027, due to inflation.

    As it turns out, fighting inflation also means fighting off the common cold. Save money on doctor’s visits and cold medicine by eating healthy, working out, getting enough sleep and wearing a mask in crowded public places, especially if you have a weakened immune system.

    14. Shop Around for Car Insurance

    When’s the last time you shopped for car insurance? Chances are, there’s a better deal out there — or you might be paying for coverage you don’t need.

    Take an hour to review your current coverage, calculate how much car insurance you actually need and compare prices across major insurance providers.

    Pro Tip

    You can usually save on car insurance if you bundle it with homeowners or renters insurance.

    15. Don’t Buy a New Car Yet

    Because of ongoing supply chain issues, new car prices are expected to stay high going into 2023. J.P.Morgan estimates that car prices may decrease later in 2023; put off buying a new one a little longer, if you can.

    If you need a vehicle now, buy a used car. While used car prices spiked in early 2022, they’re already on a downward trend.

    The Inflation Reduction Act extended the $7,500 EV tax credit for new electric vehicles. If you can afford a new EV and the at-home charging infrastructure, it could pay off in tax credits and fuel costs.

    16. Sell Your Car

    If you’re a two-car household, try living with just one car for a month. After a month, if you’re confident you can live with just one car, sell the other car for some quick cash — and see those savings continue with fewer registration and car maintenance costs.

    Even if you discover you need two cars, cut out driving wherever you can. Carpool with coworkers, bike to work or use public transportation if you live in the city.

    17. Join a Gas Rewards Program

    Gas prices continue to drain the average budget as the government works to ease inflationary pressures. Joining a gas rewards program can help you save each time you pump — and may offer other perks, like price matching and in-store discounts.

    Pro Tip

    If you drive a lot, consider opening a gas credit card to maximize rewards.

    18. Travel on a Budget

    An easy way to fight inflation is to cut out “unnecessary” expenses like vacations. But hey, everybody deserves a break now and then.

    If you’re traveling in 2023, research when to book flights for the best deals, especially if you’re looking for cheap holiday flights, when prices skyrocket.

    International travel continues to be more expensive — and crowded, as people look to make up for lost time from COVID. Instead, plan a cheaper weekend trip just a short drive from home.

    Thinking of seeing America’s greatest sites? Here’s how to visit national parks on a budget.

    A mother and daughter watch television together.
    Getty Images

    19. Cut Out Streaming Services

    Netflix used to be a way for families to cut out high cable costs, but with the advent of Hulu, Disney+, Peacock, Amazon Prime, HBO Max and others, watching TV can be just as expensive as it was a decade ago.

    Limit yourself to just one or two streaming services a month. You can always switch out services every few months based on when new seasons of your favorite show release.

    Pro Tip

    Call customer service to tell them you’re canceling to see what deals they may tempt you with. This can also work with phone and internet providers.

    20. Cancel Your Gym Membership

    Cutting a gym membership is an easy way to infuse more cash into your budget. Instead, use your apartment’s gym, invest in a small weight set or go for a jog outside.

    21. Get a Roommate

    Living by yourself has its perks, but with housing prices at an all time high, sharing the monthly rent bill is an easy way to fight inflation.

    Don’t pick just any roommate, however. Here’s how to screen roommates to avoid major financial troubles.

    22. Lower Your Utility Bills

    Your electric, gas and water bills have probably spiked since this record-breaking inflation began. While you can’t just shut off your electricity and water, there are easy ways to lower your utility bills, like:

    • Installing LED light bulbs throughout your home.
    • Hanging curtains to trap in heat during the winter.
    • Opening windows and using fans in the summer.
    • Installing a low-flow toilet and shower head.
    • Fixing leaky sinks right away.

    23. Give the Gift of Time

    If you have a wide circle of friends and family, birthday gifts can add up. Talk to your loved ones about skipping gifts in 2023 and instead vowing to spend more time together.

    Bonus points if you find free things to do together, and extra credit if you make money together doing a side hustle!

    24. Have Fun at Home

    Everyone needs to get out of the house and have fun sometimes, but maybe those $2,000 Taylor Swift concert tickets aren’t the best use of your cash.

    While inflation remains high in 2023, find new ways to have fun at home for free, like:

    • Reading books from the library.
    • Doing puzzles and playing board games.
    • Starting a garden or playing lawn games, like cornhole or croquet.
    • Dusting off old video game consoles for a day of nostalgia.
    A couple do a kitchen renovation.
    Getty Images

    25. Put Off Home Renovations

    Lumber, steel and labor shortages following COVID-19 have sent construction costs skyrocketing — but CBRE’s Construction Cost Index indicates that they should drop in 2023 and 2024.

    If you’ve been dreaming up a renovation project since quarantine, hold out a little longer. Inflationary prices are likely to go down later in 2023.

    26. Start a Side Hustle

    Cutting out all the expenses we’ve talked about — from streaming services to dairy products to car insurance — is a great way to fight inflation.

    But when everything costs more, we need to earn more to keep up. If you’ve got time on your hands, try out a new side hustle for extra cash.

    You can make money on almost anything, from flipping furniture to taking photos to shopping for and delivering food.

    27. Ask for a Raise

    If you didn’t get a raise consistent with inflation in 2022, you essentially got a pay cut. Going into 2023, we’re seeing massive layoffs, especially in the tech industry, so it may be difficult to negotiate a raise, but it’s worth a shot.

    Pro Tip

    If an employer can’t give you a raise, negotiate for more paid time off. You can use that time to work on a side hustle — earning extra cash while still getting paid by your main gig.

    28. Open a High-Yield Savings Account

    Even the best high-yield savings accounts haven’t kept up with inflation. However, earning 2% to 3% APY on your emergency fund is a lot better than earning 0.01% at a traditional bank.

    Plus, it’s possible the interest rate on your high-yield savings account will outpace inflation once it eventually slows down.

    29. Maximize Your Tax Refund

    Tax season can be a major headache, but it’s also an opportunity to get a huge influx of cash via your tax refund — a surefire way to fight inflation.

    Make sure you understand how tax credits and tax deductions work to get the biggest write-offs, especially if you’re a low-income family who can take advantage of the Earned Income Tax Credit.

    Pro Tip

    If you made $73,000 or less in 2022, you qualify for free tax filing with guided tax preparation via the IRS.

    30. Use a Cash Back Credit Card

    A cash back credit card earns money every time you swipe. By using a cash back credit card for everyday purchases you’ll make regardless — like groceries and gas — you’re essentially earning a discount on everything.

    If you don’t have a high enough credit score to qualify for a cash back credit card, look for an online checking account with a cash back debit card.

    31. Invest in I Bonds

    Investing in 2022 was extra risky — and ultimately led to major losses across the board. But one investment that makes sense right now? Series I Savings Bonds. Now through April 30, 2023, these bonds have a 6.89% interest rate.

    Series I bond interest rates are a combination of a fixed rate and the inflation rate, changing every six months. These are the only inflation-protected security offered by the Treasury Department.

    32. Don’t Panic About Investments

    Even though the stock market looks bleak and your retirement account probably took a beating in 2022, don’t lose hope.

    Most of us are investing for the long term. Over time, a diversified investment portfolio tends to pay out — and much more than bonds and high-yield savings.

    FAQs

    What Inflation Is Expected in 2023?

    Right now, the Federal Reserve is predicting a 3.1% drop in inflation for 2023 over 2022’s historic rates. While inflation will fluctuate from month to month — and yet unknown world events can introduce unexpected inflationary pressures — it does signal that prices will begin to return to normal in 2023.

    When Will Inflation Go Down?

    No one can say for sure when inflation will go down, but economists at the Federal Reserve expect inflation to drop by 3.1% in 2023. Morningstar analysts predict that, from 2022 to 2026, inflation will average out to just 2.6%, meaning 2023 through 2026 should usher in the return of lower costs of goods and services.

    How Can I Prepare for Inflation?

    To prepare for and fight inflation, prioritize paying down debts with a high interest rate, which can get out of control as prices spike. Make a budget and find easy places to cut costs — like at the grocery store, on dining out and on streaming services. Ask for a raise at work or take on a side hustle to inject extra cash into your budget. Make smart investments, like Series I Savings Bonds, but still contribute to traditional retirement accounts if you can.

    Timothy Moore covers bank accounts, loans, insurance and credit cards for The Penny Hoarder from his home base in Cincinnati. He has worked in editing and graphic design for a marketing agency, a global research firm and a major print publication. He covers a variety of other topics, including travel, taxes, budgeting, pet care and automotive. He’s worked in the field since 2012 with publications such as The Penny Hoarder, Insider, Sound Dollar, Chime, SoFi, Debt.com, Ladders, WDW Magazine and Glassdoor.


    tmoorefreelance@gmail.com (Timothy Moore)

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  • They Don’t Make it Easy: How to Cancel Amazon Prime Subscription

    They Don’t Make it Easy: How to Cancel Amazon Prime Subscription

    When modern consumers look at their subscription account statements, occasionally they ask themselves “At what price would I stop using that service?”

    Some consumers may have reached that tipping point for Amazon Prime when it raised its annual Prime membership early in 2022. The yearly subscription price is $139 (up from $119) and the monthly is $14.99, a hike of $2.

    Low-income subscribers and students also saw subscription increases. Students pay $7.50 a month. That’s $69 a year and a $10 increase. People who receive qualified forms of government assistance, such as Electronic Benefit Transfer (EBT), pay $7 a month, a $1 jump.

    If you are one of those consumers who doesn’t see the value in Prime, here is how you go about canceling your subscription.

    Prepare to be persistent.

    Step-by-Step Guide to Canceling Amazon Prime

    • On the front page of your Amazon account, click on the “Accounts and Lists” menu. The drop-down offers a link to “Prime Membership.”
    • Click that, then click on “Manage Membership.”
    • Yet another drop-down will offer a click for “Update, cancel, and more” and then you click “End Membership.”
    • Another page will appear, and you should click on “Cancel My Benefits.”

    You are not done. Amazon apparently finds it hard to believe anyone would cancel its subscription, no matter the cost.

    • After you click on “Cancel My Benefits,” you are likely to be asked, and asked again, if you really want to cancel your subscription.
    • Keep clicking the “Continue to Cancel” choice to get to the end result.
    • Eventually, you will reach “Cancel Your Prime Membership.” Click on that and the deed is done.

    One Complication with Canceling Amazon Prime

    If your Amazon Prime membership is a result of another association, such as with a Sprint phone account, you must contact that provider to end your Amazon Prime membership.

    Alternatives to Amazon Prime

    If you’ve had Amazon Prime for any length of time, you may find it hard to quit the deals and free two-day delivery guarantee for many items.

    However, there are other services with shopping and shipping privileges similar to Amazon Prime offerings. They may not be as comprehensive in offerings but depending on what you use Amazon Prime for, they may be enough.

    Target RedCard

    Limited to products offered by Target, Target RedCard has same day delivery depending on your location. A Target RedCard is free; delivery is $5.99 for each eligible offer, but that cost is eliminated if the delivery is for an order of $35 or more. Delivered items do not qualify for the RedCard 5% discount. Target RedCard is a credit card; it comes with a high interest rate (25.90% as of this writing) so carrying a balance would be a bad idea.

    ShopRunner

    ShopRunner offers delivery from many of the popular stores and designers that you may already buy from. It’s worth it to take a look at the dozens of outlets that they partner with to determine if ShopRunner offers enough for you. The annual fee is $79. You can shop directly from ShopRunner, or you may see a ShopRunner logo when you shop on product websites.

    Hive

    Hive offers natural, environmentally friendly products, and it also offers free delivery for those items if you purchase $50 or more. Any delivery request below $50 comes at a cost of $5.95 per delivery. Delivery to Alaska, Hawaii or Puerto Rico has a $30 rate. A Hive subscription costs $12 per month, although there are special rates for non-profits.

    Walmart

    Walmart offers express delivery of two hours or less depending on location. There is a cost of $7.95 or $9.95 per delivery, but consumers can purchase an annual delivery membership at Walmart+ for $98, or a monthly subscription for $12.95. Next day delivery is always free.

    How to Cancel Amazon Prime Video Subscription

    Amazon Prime Video is the streaming service of Amazon Prime. It is included in the monthly Amazon Prime membership. However, it can also be subscribed to separately. In other words, you can subscribe to watch original content such as “The Marvelous Mrs. Maisel” or “Lizzo’s Watch Out for the Big Grrrls” competition-reality show mashup without having to subscribe to Amazon Prime delivery. The monthly cost of Prime Video is $8.99.

    To cancel your Amazon Prime Video log in to your account and go to “Manage Your Prime Video Channels” and select “Prime Video Channels.” Find the subscription you want to cancel, click “Cancel Channel” and that subscription will be canceled.

    You may be offered a self-service refund, and choosing that will end your subscription immediately.

    Otherwise, your subscription end date will display on the confirmation screen. You can reverse your subscription cancellation decision until that date. After the subscription date, you will no longer be charged, and will no longer have access to the content.

    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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  • 7 Ways to Avoid Pricey Home-Repair Surprises in 2023

    7 Ways to Avoid Pricey Home-Repair Surprises in 2023

    For many of us, there’s nothing quite like spending lots of time at home to start noticing the literal (or metaphorical) cracks in the foundation. Maybe your kitchen could use some remodeling TLC, or perhaps you have appliances that desperately need to be replaced (or even some combination of both).

    Whatever it is, the home maintenance and remodel industry has been on a huge upward trajectory for years now, and while the experts predict it might start to slow down in 2023 (by about 7.4% according to the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University) — ‘slow’ isn’t quite the word we’d choose for this $400 billion industry.

    In fact, Angie’s List (now called Angi) found that the average household spending on home-related projects in 2022 was $12,904, with a whopping $8,484 of that going towards home improvement, and $2,467 towards home maintenance.

    So if you’re one of the many people trying to map out your home project plans for 2023, keep reading. We’ve got seven of our best penny-hoarding tips right here to help you make the most of your remodeling and home maintenance budget.

    7-Step Home Maintenance Plan for 2023

    1. Don’t Ignore Your House’s Cries for Help

    Your house can’t talk but it can send you messages. If it’s crying for help, ignoring the message could cost you money later.

    Don’t ignore home repairs, and you’ll save in the long run. Here are seven you can’t afford to put off.

    1. Anything involving water. A small wet spot can be the sign of a leak somewhere. Eventually that leak will grow and possibly destroy floors, walls, furniture, and more. A leaky faucet, running toilet, or dripping water heater can cost more in water bills than the repair would.
    2. Anything involving electricity. Flickering lights, bad outlets or switches, tripping breakers, and GFI outlets that won’t reset can be signs of electrical problems, which could lead to fires.
    3. Pests. Rodents and bugs can do lots of damage if left alone.
    4. Peeling caulk and paint. Once the protective caulk or paint is gone, water gets in and causes damage.
    5. Broken or malfunctioning HVAC. Problems with your heating, ventilation and air conditioning (HVAC) could mean you’re too sweaty or too chilly. But temperature swings inside the home can lead to problems. Additional humidity could cause mold and cold temperatures could cause pipes to freeze.
    6. Cracks. Small cracks are normal. Big or changing cracks aren’t.
    7. Smoke alarm and carbon monoxide detectors. Working detectors save lives. Change the batteries regularly.
    8. Darkening ceilings near fireplaces. Dark places or a sooty smell can mean the fireplace isn’t drafting properly, which can let deadly gasses inside.

    2. Keep Up With Home Maintenance

    Maintenance is usually cheaper than repairs, so keeping up with checkups around your home can help you avoid a bigger repair bill later. It’s smart to figure out how much to budget for home maintenance. Here are the things you should consider:

    • Prevent moisture problems. Water can be evil when it shows up in places it shouldn’t. Routinely check your gutters, sump pump, water heater, faucets, drains, septic tanks, and irrigation systems.
    • Maintain appliances and equipment. Do annual HVAC maintenance and change filters regularly. Check the connections in the laundry room and clean the dryer vent. Change filters and clean the range hood in the kitchen.
    • Keep up the exterior. Keep dirt away from the house so water can drain correctly. Inspect the paint and siding to make sure they’re looking good and doing their job of protecting your house. Maintain caulk around openings. Inspect chimneys. Service the electric garage door.

    Financial experts recommend putting away about $200 a month for home maintenance. That way, you’ll have $2,400 a year, which can hopefully cover the maintenance and possible repairs.

    3. Know When to DIY and When to Use a Pro

    Sometimes it’s necessary to call in the pros when tackling home maintenance or home improvement projects.

    Do you really want to DIY and regret it?

    When deciding to DIY or hire a pro, ask yourself how much experience you really have. Things often look easier to do on TV or in a YouTube video than they really are.

    Experts say to avoid DIY-ing anything involving electricity (especially 220 circuits) or water unless you have experience. Things can go bad very quickly.

    4. Get Bids for Home Projects

    If you need professional help for your home, getting bids on home projects can save you lots of money and time.

    A professional handyperson can handle a wide variety of jobs like caulking, painting, gutter cleaning, patching drywall, installing tile, hanging objects, and installing fixtures. Making a list of what you want done can be helpful so you can prioritize if you only have a handyperson hired for a few hours.

    When looking for the right expert for your home project:

    • Learn about the project by watching videos. This will help you know if someone’s time estimate seems way off.
    • Ask for recommendations. Neighbors, friends, and family often know good people who do good work. Also, real estate agents will be able to tell you who they recommend to get homes ready for sale.
    • Websites and apps make it easy to research who can do what you need. Some even allow you to post a request for someone to bid on your project.
    • Read reviews before you hire someone.

    Don’t be afraid to ask questions and discuss exactly what the estimate includes and what the payment terms are. It’s your home, and your budget

    Getty Images

    5. Do What You Can to Lower Electric Bills

    Some simple things can help you get a lower electric bill each month.

    • Seal cracks and leaks.
    • Upgrade to more energy-efficient equipment.
    • Use fans.
    • Air-dry laundry as much as possible.
    • Change to LED lighting.

    You can save on other utility bills, too, with attention to your consumption habits. For instance, some simple reductions in water use could mean saving money on water bills.

    6. Know What Your Home Insurance Covers

    Disasters or repairs can ruin your budget. Homeowners insurance can help protect your property and belongings from damage and losses. It also provides liability coverage.

    But it isn’t always easy to know what is covered and what isn’t. And when is it worthwhile to file a claim?

    All homeowners policies are not created equal, and they can also vary widely based on where you live and in what kind of dwelling. It’s important to understand when it can help you out — and when it can’t. Here’s an article that will help you learn what home insurance covers.

    7. Home Buyers: Don’t Skip Home Inspections

    If you’re ready to dive into the world of home ownership or move into a new home, don’t get so caught up in the excitement that you make a big mistake.

    Following this eight-point home inspection checklist could end up throwing cold water on your plans, but it will also prevent buyer’s remorse if you’ve fallen in love with a money pit.

    Inspectors look at more than 1,000 things throughout a house. In general, those things are:

    • Structural components
    • Roof
    • Attic and insulation
    • HVAC systems
    • Plumbing and water
    • Electrical and wiring
    • Outside the house
    • Appliances

    In today’s real estate market, forgoing the inspection could make your offer more attractive to the seller, but the average inspection cost of $350 could save you thousands of dollars down the line.

    Tiffani Sherman is a Florida-based freelance reporter with more than 25 years of experience writing about finance, health, travel and other topics. Freelancer Larissa Runkle contributed to this report.


    tiffani.sherman@aol.com (Tiffani Sherman)

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  • January Class Action Settlements Involve T-Mobile, Keurig, Procter & Gamble

    January Class Action Settlements Involve T-Mobile, Keurig, Procter & Gamble

    Consumers could start their 2023 with cash payments by participating in several settlements with companies such as T-Mobile, Procter & Gamble and more. File a claim by the January settlement deadlines to receive cash payments and other benefits.

    Experian incorrect residential information $22M class action settlement

    Experian agreed to a $22.45 million class action settlement to resolve claims it misreported some consumers as high risk on credit reports.

    The settlement benefits consumers for whom Experian sent a credit report with an inaccurate Fraud Shield Indicator to a third party since Sept. 27, 2017. The settlement also includes consumers who contacted Experian about Fraud Shield Indicators between July 1, 2018, and July 31, 2021.

    According to the class action lawsuit, Experian wrongfully reported some consumers as having non-residential or high-risk addresses. This credit report information allegedly caused some consumers to be denied financing or other opportunities, despite having a residential address.

    To receive a settlement payment, consumers must submit a valid claim form by Jan. 30, 2023.

    Keurig ‘recyclable’ K-Cups false advertising $10M class action settlement

    Keurig agreed to pay $10 million to resolve claims that its K-Cups are not recyclable as promised on product packaging.

    The settlement benefits consumers who purchased “recyclable” K-Cups between June 8, 2016, and Aug. 8, 2022.

    Despite the single-use coffee pods being labeled as recyclable, they are allegedly too small to be recycled at most facilities. Instead of being recycled, the plaintiffs contend, the pods end up in landfills. Consumers say they wouldn’t have purchased the products or paid as much for K-Cups if they knew the coffee pods weren’t recyclable.

    To receive settlement benefits, K-Cup purchasers must submit a valid claim form by Jan. 9, 2023.

    Procter & Gamble benzene aerosol products $8M class action settlement

    Procter & Gamble agreed to an $8 million class action settlement to resolve claims that its aerosolized products containing carcinogenic benzene.

    The settlement benefits consumers who purchased Secret, Old Spice, Pantene, Waterless, Aussie, Herbal Essences or Hair Food aerosol antiperspirant, deodorant, body spray, dry shampoo or dry conditioner products between Nov. 4, 2015, and Dec. 31, 2021.

    Aerosol products under these brands allegedly contain benzene — a known human carcinogen associated with leukemia. Plaintiffs in the class action lawsuit claim that they wouldn’t have purchased Procter & Gamble’s products if they knew they could be exposed to a carcinogen. Consumers also argue the company should have tested its aerosolized products for benzene and other contaminants.

    Consumers must submit a valid claim form by Jan. 26, 2023, to receive settlement payments.

    Adobe Stock

    Smashburger ‘double the beef’ false advertising $5.5M class action settlement

    Smashburger will pay $5.5 million to resolve claims that its Triple Double hamburgers do not contain “double the beef” as advertised.

    The settlement benefits Smashburger customers who purchased Triple Double hamburgers, Bacon Triple Double hamburgers, French Onion Triple Double hamburgers or Pub Triple Double hamburgers between July 1, 2017, and May 31, 2019.

    Smashburger allegedly advertised its Triple Double burgers as containing “double the meat.” Despite these promises, Triple Double burgers did not contain twice the meat as typical burgers, the class action lawsuit contends. Instead, the burgers allegedly contain the same amount of meat as a single patty. Consumers say they overpaid for Triple Double burgers based on false advertising claims.

    The claim deadline for this settlement is Jan. 17, 2023.

    T-Mobile data breach $350M class action settlement

    T-Mobile agreed to a $350 million class action settlement to resolve claims that its negligence caused a 2021 data breach that affected 76 million Americans.

    The settlement benefits consumers whose personal information was compromised in the T-Mobile data breach announced by the company in August 2021.

    A class action lawsuit accused T-Mobile of failing to protect consumer data through reasonable cybersecurity measures. Plaintiffs in the case say T-Mobile is responsible for the fraud, identity theft and financial damages that occurred after hackers stole sensitive information such as Social Security numbers. Affected consumers will allegedly continue to face the risk of future damages resulting from the breach.

    To receive a settlement payment, consumers must submit a valid claim form by Jan. 23, 2023.

    Abbott Laboratories Similac formula false advertising $19.5M class action settlement

    Abbott Laboratories will pay $1.95 million to resolve claims that its Similac infant formula doesn’t make as many servings as promised on product labeling.

    The settlement benefits consumers who purchased certain Similac Advance, Sensitive, Total Comfort and Organic infant formula products between June 24, 2016, and Sept. 22, 2022.

    Similac infant formula products reportedly promise to make a certain number of servings. According to a false advertising class action lawsuit, Abbott Laboratories inflated the total servings on its product packaging to deceive consumers into paying higher prices for its products. Plaintiffs in the case say they wouldn’t have paid as much if they knew the true number of servings each Similac container made.

    The deadline to file a claim for payment with the settlement is Jan. 31, 2023.

    Brut, Sure antiperspirant benzene $3.65M class action settlement

    Idelle Labs agreed to a $3.65 million settlement to resolve claims that it endangered customers with benzene-contaminated antiperspirants.

    The settlement benefits consumers who purchased certain Brut and Sure antiperspirants between Nov. 15, 2015, and Oct. 28, 2022.

    Brut and Sure antiperspirants were recalled in February 2022 due to concerns the products were contaminated with carcinogenic benzene. Consumers in a class action lawsuit against Idelle Labs claim that the contaminated products were adulterated and misbranded, making them illegal under federal and state laws. Plaintiffs in the case also argued that, had they known about the contamination, they would not have purchased the products.

    To receive settlement benefits, consumers must submit a valid claim form by Jan. 12, 2023.

    A magnifying glass is shown taking a closer look at the word Robinhood on a computer. They are in a class action lawsuit due to a data breach.
    Adobe Stock

    Robinhood data breach class action settlement

    Robinhood agreed to pay an unspecified sum to resolve claims that a 2020 data breach caused some customers to have their investment accounts drained by hackers.

    The settlement benefits individuals whose Robinhood accounts were accessed by an unauthorized third party between Jan. 1, 2020, and April 27, 2022. Eligible instances of account fraud must have been identified by Robinhood or reported to the company by customers.

    Following a 2020 data breach, Robinhood investment customers began to experience account takeovers in which hackers allegedly drained accrued funds. According to plaintiffs in a class action lawsuit, Robinhood promised to cover 100% of the losses resulting from this breach after failing to promptly respond to the breach. However, in reality, the investment platform allegedly denied some reimbursement requests without any explanation — leaving customers to shoulder the burden of stolen funds.

    The deadline to file a claim with the settlement is Jan. 17, 2023.

    Auto parts antitrust $3.2M class action settlement

    The fifth round of payments is available from a $1.2 billion auto parts class action settlement with automotive parts manufacturers. This round, totaling over $3.1 million, covers electronic braking systems, hydraulic braking systems and exhaust systems.

    The settlement benefits individuals who purchased or leased an eligible new vehicle between 2002 and 2018 or who paid to replace one or more qualifying vehicle parts.

    Plaintiffs in the antitrust class action lawsuit accused Robert Bosch, Bosal, TRW and other parts manufacturers of conspiring to raise and fix the price of auto parts. As a result of this scheme, consumers were allegedly forced to pay a higher price for replacement parts for their vehicles.

    To receive settlement benefits, drivers must submit a valid claim form by Jan. 7, 2023.

    Barlean’s Organic Oils coconut oil false advertising $1.6M class action lawsuit settlement

    Barlean’s Organic Oils agreed to a $1.6 million class action settlement to resolve claims that its coconut oil is falsely advertised as “healthy.”

    The settlement benefits consumers who purchased Barlean’s Organic Virgin Coconut Oil, Barlean’s Organic Culinary Coconut Oil or Barlean’s Organic Butter Flavored Coconut Oil between Jan. 24, 2015, and Nov. 10, 2022.

    Barlean’s reportedly advertises its coconut oil products as “healthy” and able to support the heart and immune systems.

    According to a class action lawsuit, this is untrue.

    In reality, coconut oil’s high saturated fat content allegedly makes it a health risk. Saturated fat is connected to serious health concerns such as stroke and heart disease.

    The deadline to submit a claim with the settlement is Jan. 19, 2023.


    tiffany.soga@topclassactions.com (Top Class Actions)

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  • When You Love Your Dog But Your Insurance Company Doesn’t

    When You Love Your Dog But Your Insurance Company Doesn’t

    When initiating a new homeowners insurance policy, the result can always be a gamble. Will my insurance premium be too high? Should I worry about coverage limits? Will I need to purchase additional coverage?

    All these questions come to mind when researching insurance carriers. And if you’re a dog owner, you’ll have one more: Will my insurance company restrict my dog’s breed from coverage? And even if they don’t, will they cover dog bite claims if my dog bites a neighbor?

    While these questions might be new to you, they are certainly not new to insurance providers. In 2021, insurance companies spent roughly $882 million on dog-bite and dog-injury-related liability claims, according to a 2022 analysis by the Insurance Information Institute. That number represents an increase of almost $10 million from the amount paid out in 2020.

    Not only did the total amount paid for dog bite claims increase, but so did the total number of dog bite claims nationwide—from almost 17,600 in 2020 to almost 18,000 in 2021. Despite the increase in the number of people reporting dog bite incidents, the average cost per claim actually decreased from $49,558 in 2020 to $49,025 in 2021.

    But any year-over-year changes can’t necessarily show the full picture—that the cost of dog-bite claims has certainly seen a prominent uptick in the last decade. From 2012 to 2021, the average cost per claim has risen by 39 percent, from $29,752 to more than $49,000. The Insurance Information Institute attributes that in large part to increased medical costs and larger settlements awarded to plaintiffs.

    Depending on what the statute is where you live, dog owners can be held automatically liable for any injury or property damage their dog causes or are only responsible if the dog has exhibited violent behavior in the past. Some statutes, called negligence laws, hold the owner liable if they were “unreasonably careless” in caring for the dog.

    Getting nervous yet, dog owners? Don’t worry — you’re in good company. Roughly 70% of U.S. households — 90.5 million homes — own a dog, according to the American Pet Products Association’s 2021-2022 survey.

    Or maybe you should worry. Did you know that a majority of states — 29 — consider dog owners liable for any injuries their pet causes? California and Florida are the top two states for number of dog bite claims. In 2021, California insurers paid out roughly $120 million in dog bite claims while Florida insurers paid out about $81 million.

    Is Your Dog on the Restricted Breeds List?

    Some home insurance companies have a list of restricted dog breeds. Breeds considered “restricted” raise red flags because they’re considered a higher risk of leading to high-cost insurance payouts. (Along with trampolines, dogs are one of the bigger headaches for companies supplying homeowners insurance.)

    Depending on each company’s practices, owning certain breeds could potentially mean higher premiums, less favorable coverage terms, and at worst no coverage at all.

    “The (companies) that do have some type of restriction on breeds often base it on the losses that they experience,” said Janet Ruiz, director of strategic communication for the Insurance Information Institute. “They have determined, ‘OK, we had more losses with this breed than that breed.’”

    A Forbes Advisor analysis of commonly banned dog breeds, updated in Oct. 2022, revealed that Doberman pinschers, pit bulls and rottweilers showed up on all surveyed lists of breed restrictions. Chow-chows and wolf dogs or wolf hybrids also appeared on more than 90% of lists.

    Some insurance companies don’t have hard and fast rules that immediately bar a customer from coverage should they own a particular dog breed, according to Ruiz. Certain dog breeds may engender further questions.

    “Maybe one company likes to take a look at the breeds but then will ask, ‘What kind of training do you have? Have you had any prior losses with your former insurance companies?’” Ruiz said. “It’s a process. It could be a consideration, but it may not mean that they’re not going to insure you because of it.”

    Many home insurance companies still want to insure a potential client even if they own a breed considered risky. They just want to determine the right amount of money to charge, Ruiz said. To do this, an insurance provider will often take into account a dog’s bite history.

    Animal advocates, like the Massachusetts Society for the Prevention of Cruelty to Animals, stress that training — rather than a dog’s breed — plays a big role in a dog’s behavior. “There’s a lot to be said for dogs being trained,” Ruiz said. “That’s the more important focus — for people to look at whether they are being responsible pet owners.”

    How Do Different Homeowners Insurance Companies Handle Dogs?

    If you own a dog that may be on one of the restricted dog breed lists, it’s understandable that you’d wonder what to do next. Maybe you’re already buying insurance to cover vet bills and you don’t need any extra expenses. When it comes to dog breeds homeowners insurance, it’s important to do your research.

    We talked to homeowners insurance companies to get you some answers about which insurance providers even consider dog breeds and what questions to expect when you apply for coverage.

    State Farm

    State Farm does not ask what breed of dog a homeowner owns, according to an April 2022 press release.

    In 2021, the company paid almost $162 million in more than 3,200 dog-related injury claims, per State Farm. Both the number of claims and the total amount paid went up between 2020 and 2021 by 2.3% and 3%, respectively. California and Illinois topped the company’s list of number of dog-injury-related claims per state.

    “Every dog has a unique personality,” the company indicates in the statement. “While a dogs’ breed may dictate how they look, how a dog reacts in a situation isn’t guaranteed by breed or type. It’s important to remember that even well-trained dogs can bite if they are put into the wrong situation.”

    Earlier this year, State Farm public affairs specialist Michal Brower recommended that dog owners ask their insurance company or agent what their homeowners policy covers. A home insurance company may cover dog bites or dog injuries under the liability coverage portion, but that can have coverage limits. A severe bite or injury could mean the consumer has to pay out of pocket if it falls over their policy limit.

    USAA

    “USAA does not consider dog breed in our underwriting of homeowners policies,” according to company spokesperson Rebekah Nelson in January 2022. But the company does look at bite history. “Requests for insurance may be declined when the insured owns an animal that has previously bitten or attacked,” Nelson said at the time.

    USAA membership is open to most veterans and their eligible family members.

    Farmers Insurance

    Guidelines and restrictions vary by state, according to external communications manager Carly Kraft in early 2022. But California residents looking for insurance with pit bulls, Rottweilers or “wolf hybrids” may have a problem, according to nonprofit pit bull advocacy group BADRAP. As of updated guidance, the insurance company is no longer insuring new customers with these dogs, per BADRAP.

    “If a dog bites or injures someone outside of your household, the liability section of Farmers homeowners and renters insurance policies will typically help cover medical expenses resulting from the injury, up to the liability limits in the policy,” Kraft said at the time. “Insurers may consider excluding coverage for dog bites, regardless of breed, if a dog has previously bitten someone.”

    Amica

    Amica does not have any restricted dog breeds, according to communications and public relations manager Brendan Dowding in early 2022. Instead, they focus on a dog’s history and behavior.

    “During our underwriting process, we do ask customers who own dogs a number of questions about their dog, including details on prior behavior and temperament,” Dowding said.

    Should a dog bite someone, that is when the customer’s homeowners liability coverage and liability protection would come into play.

    “In the event a customer is liable for their dog biting someone, in general, their homeowners policy would provide coverage under the liability portion of a homeowners/condo/rental policy,” Dowding said. “However, every incident is different and exclusions may apply.”

    Liberty Mutual and Nationwide

    These two insurance companies are among those described by animal advocacy group MSPCA as ones “that may insure otherwise black-listed dog breeds.”

    MSPCA goes on to state: “Most of these companies work on a case by case basis, considering the individual dog’s behavior and history, and may require a meet and greet with the dog and/or a Canine Good Citizen certification or certain housing requirements.”

    Travelers Insurance

    Travelers homeowners insurance underwriting guidelines from 2014 state that a number of dog breeds — as well as any animal that is “vicious or has previously bitten or injured” — are restricted from coverage. These breeds include pit bulls, Akitas, American Staffordshire terriers, Bullmastiffs and Staffordshire bull terriers.

    Allstate

    The insurance company does not offer property, condo or tenant insurance to owners of — or those who live with — Pit Bulls, Rottweilers or mixed breeds in which one of those breeds is dominant, per a statement provided by an Allstate spokesperson to the Kingstonist News.

    Progressive

    Progressive’s website does not indicate whether they ban certain dog breeds, but notes that some insurance providers restrict breeds like German shepherds, mixed breeds and American bulldogs.

    The website states: “Homeowners insurance won’t cover property damage or injury to occupants of your home caused by a pet, but generally covers claims that other parties make as a result of your pet’s actions — regardless of whether the incident happened at your home or elsewhere.”

    Pets are generally covered under the liability limits of a homeowner’s insurance policy.

    Writer Elizabeth Djinis is a contributor to The Penny Hoarder, often writing about selling goods online through social platforms. Her work has appeared in Teen Vogue, Smithsonian Magazine and the Tampa Bay Times.


    elizabethdjinis@gmail.com (Elizabeth Djinis)

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