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  • Don’t Sleep on That Tax Refund — 5 Reasons Tax Experts Say to File Early

    Don’t Sleep on That Tax Refund — 5 Reasons Tax Experts Say to File Early

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    Believe it or not, tax season has already begun. Amid the flurry of tax forms flooding inboxes and mailboxes, you might wonder about filing taxes early this year. If you’re expecting an IRS refund, it’s tempting to run out and try to get your return in now. Less enticing is rushing to submit tax documents if you owe money.

    However, early birds in a few states might catch some unappetizing worms this year when it comes to tax returns. The Internal Revenue Service (IRS) finally issued guidance late last week saying most taxpayers who received state payments related to general welfare and disaster relief won’t have to report that income for tax purposes.

    The exceptions to this rule are taxpayers from Georgia, Massachusetts, South Carolina, Virginia and Alaska who will have to consult the IRS and state officials for more nuanced rules about the taxability of relief payments.

    Given this unexpected road bump, we spoke to several tax experts about the best time to pay taxes this year. Should you file earlier if you’re expecting a big return or can you skate along until right before the filing deadline to make an IRS payment? Here’s what they had to say about whether early filers are smart to beat the crowds and any potential risks in filing early.

    When Does Tax Season Begin?

    If it seems like everyone becomes a procrastinator during tax season, you’re not wrong. Technically, the 2023 tax season kicked off Jan. 23, when the IRS website opened to the submission of 2022 taxes electronically. This year’s Tax Day, or the last day to submit online or mail paper returns before incurring late penalties, is Monday, April 18.

    That means Americans have three months to gather tax documents and work with a tax professional or tax software to ensure an accurate tax return. Despite this generous window and a slew of free tax help resources, analysis of IRS data indicates about 30% of Americans still waited until April to file during the most recent tax year. The same data shows only about 12% of Americans are early filers, meaning they file electronically in late January as soon as the window opens.

    Pro Tip

    If you are worried about making mistakes when filing, we highly recommend using tax software like TurboTax, H&R Block or TaxAct.

    How Early Can I File My Federal Tax Return?

    Although the IRS has advised caution to taxpayers in five states to clarify the taxability of state payments before they file, it’s full steam ahead for most taxpayers across the country.

    However, it’s advisable to wait until you receive all your tax documents, including any 1099-Ks from payment platforms like Venmo and PayPal. Because gig workers and self-employed contractors rely on a patchwork of tax documents to ensure a complete and accurate return, this can be a tricky waiting game.

    Robert Persichitte, a certified public accountant and founder of Delagify Financial, likes to remind taxpayers who owe money that they can still file early and pay later.

    “You don’t have to pay when you file,” Persichitte clarifies. “Even if you can’t pay your taxes, you should still file. There are late-filing penalties that you’ll have to add t

    What if you can’t pay your taxes? First, don’t panic. Second, read this article on what steps you should take.

    Do You Get a Bigger Tax Refund if You File Early?

    There’s no evidence that filing early means bigger tax refunds. However, there’s plenty of proof that taking the time to file an accurate return provides a better chance of a larger kickback from Uncle Sam.

    Rushing at the last minute to file means you could overlook eligibility for certain tax credits, like the child tax credit or the earned income credit. And if you don’t wait for all your tax paperwork to arrive, you might miss sources of income you should report such as unemployment income or interest from a savings account.

    One myth we can definitely debunk is whether when you file increases your chances of being audited. Barbara Weltman, an attorney, nationally recognized tax expert and author of “J.K. Lasser’s 1001 Deductions and Tax Breaks 2023,” says when you file has no bearing on whether you’ll be audited. “Filing early or late has no impact on the chances of being audited,” Weltman confirms. “Though some may believe otherwise.”

    5 Reasons to File an Early Tax Return

    1. Avoids processing delays
    2. Limits stress over tax deadlines
    3. Decreases risk of tax identity theft
    4. Provides time to put a payment plan in place
    5. Makes connecting with a tax preparer easier

    1. Filing early avoids processing delays.

    The 2022 tax season was filled with delays. While two-thirds of taxpayers were entitled to an IRS refund that averaged $3,200, those refunds took much longer to process. And for unfortunate taxpayers who had to adjust returns, those adjustments took the IRS an average of 197 days to process.

    Persichitte advises his clients to file as early as they can. “Filing early helps you avoid the rush, fix any issues and understand your taxes. If there is an issue like misspelling a name, the IRS rejects the return. Filing early allows extra time to fix those kinds of problems as they arise.”

    2. Filing early limits stress over tax deadlines.

    Having a deadline hanging over your head is never pleasant. Knowing not only when you’ll get your return back but how much you can expect takes much of the stress out of the tax process. When everyone else is scrambling in April, you can be sailing away to somewhere tropical courtesy of your generous tax return.

    Pro Tip

    Got your filing squared away and looking toward next year’s taxes? Use our guide to 2023 tax brackets to understand how your taxes might change.

    3. Filing early decreases the risk of tax identity theft.

    Tax experts say one of the biggest reasons to file early is that it reduces the risk of someone stealing your tax return. “Early filing is a way to thwart tax identity theft,” Weltman explains. “If you file early, it prevents an identity thief from filing under your Social Security number.”

    Tax refund fraud happens a lot more than you might think. The U.S. Justice Department has an entire task force devoted to this kind of tax fraud and reports millions of Americans have their tax returns stolen every year.

    4. Filing early provides time to put a payment plan in place.

    The longer you wait to file, the less time you’ll have to determine if you owe money. Before that tax bill comes knocking, give yourself a few weeks to devise a plan.

    Persichitte says gig workers are notorious procrastinators. “Typically, they will owe taxes and put it off because they don’t want to pay the bill. Oftentimes, they are shocked by how much they owe in taxes. If they started in February, they’d have more time to prepare, save up the money for the tax bill and have the time they need to gather their documents.”

    5. Filing early makes connecting with a tax preparer easier.

    If you think you’re busy during tax season, wait until you see your accountant’s schedule. Advice from a tax professional on preparing your return is invaluable, but their time comes at a premium in March and April.

    Adjusted gross income. The additional child tax credit. Earned income tax credit. Taxes can be a lot to manage. Seeking out tax tips early this tax season can save money and maximize the return that hits your bank account.

    Preparing returns yourself and need a little tax help? We’ve got you! Check out our complete guide to how to file taxes and maximize your return.

    Are There Any Reasons Not to File Early During Tax Season?

    Unless you live in a state where you need to clarify the taxability of state payments, there’s no good reason not to file early. Weltman says you might need to hit pause if you’re waiting for more tax information, are making a 2022 contribution to an IRA or health savings account, or you’re trying to work with a tax professional on your return.

    Persichitte echoes this advice. “I would only wait to file if you are still waiting on a document. Some documents, like K-1s, might not be available until after the filing deadline. The best action is to file an extension right when you know your documents will be late.”

    Frequently Asked Questions About Filing Taxes Early

    Does Filing Early Affect the Child Tax Credit?

    Weltman says filing early can present a problem for those who qualify for refunds from the earned income credit or the refundable child tax credit. “By law, the IRS cannot issue them before Feb. 15. For returns filed earlier, the IRS says to expect refunds this year by Feb. 28, although it could be earlier.” 

    I Don’t Have All My Tax Documents Yet. What Should I Do?

    Whether you’re missing a 1099 or a W-2, wait until mid-February before you panic. While employers are required to provide these forms by Jan. 31, they can get delayed in the mail. If nothing turns up, you can contact the employer or the IRS (call 1-800-829-1040), and they’ll resolve it. In the meantime, you may be able to estimate your income using your own records.

    How Quickly Will I Get My IRS Refund Through Direct Deposit?

    Good news. If you file electronically, the IRS says 9 out of 10 taxpayers can expect their return to be processed within 21 days. The IRS says to use e-file and choose direct deposit to speed up the refund process. If you prefer to submit a paper return, note that the IRS says you could face delays of up to six months. Within 24 hours of filing online, you should be able to check the status of your refund using the IRS Where’s My Refund? tool.

    Kaz Weida is a senior staff writer at The Penny Hoarder covering saving money and budgeting. As a journalist, she has written about a wide array of topics, including finance, health, politics, education and technology, for the last decade.


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  • Credit Card Debt Just Jumped to a Record High. Here’s How to Pay Off Yours

    Credit Card Debt Just Jumped to a Record High. Here’s How to Pay Off Yours

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    The siren song of the credit card is music to our ears lately. When it comes time to pay the bills, we Americans are reaching for the plastic more than ever.

    With more people using credit cards to pay for food and rent, Americans’ total credit card debt reached a record $930 billion at the end of 2022, according to a new report from TransUnion. That’s a whopping 18.5% increase from the year before.

    (We’ve seen headlines in the past that put Americans’ total credit card debt at $1 trillion, but apparently TransUnion calculates it differently. TransUnion says this is a record. Anyway, credit card debt is way, way up.)

    Not only that, but the average credit card balance rose to $5,805, TransUnion says.

    This comes at a time when swiping your card has become more expensive than ever because credit card interest rates are rising crazy fast. The average APR on a credit card has climbed above 19% — the highest it’s ever been! It’s the most expensive kind of debt you can have.

    What can you do to cut your credit card debt? We’ve got some good ideas for that.

    But first…

    Maybe Bigger Changes Are Needed

    Hey, we’ve all been there with the credit card debt. There’s no shame. We’ve all gone through it.

    But if you’re using a credit card to afford groceries and make rent, that’s obviously a problem. That’s not sustainable. It might be time to make some significant changes.

    You could:

    • Look for cheaper digs. We know that’s easier said than done.
    • Shop at a cheaper grocery store. When we went looking for the cheapest groceries, we found that Aldi is even cheaper than Walmart. Also, here are our favorite tricks to save money on groceries.
    • Do some meal planning to eat healthy and save money. Here’s our guide on how to start meal planning so that you’ll actually stick to it.
    • Get a side gig. Here’s The Penny Hoarder’s continually updated page on work-from-home jobs.

    5 Ways to Eliminate Credit Card Debt

    Here’s our ultimate guide to paying off credit card debt. We’ll summarize five methods here:

    1. Debt Avalanche

    Pay off your credit cards that have the highest interest rates first. Doing that can save you a lot of money over time because you’ll be paying less interest. Learn more about the debt avalanche method here.

    2. Debt Snowball

    Pay off your credit cards that have the smallest balances first. This allows you to eliminate credit card balances faster, which can motivate you to keep going. Here’s how to use the debt snowball method.

    3. The Balance Transfer

    If you have good to excellent credit (typically a FICO score of 670 or above) and can feasibly pay off your debt within a year, a balance transfer credit card is a good option. Balance transfer credit cards can save you money on interest charges by letting you transfer the balance of a card with a high interest rate to a card with 0% interest. Most of these cards offer 0% interest for 12 to 18 months with no annual fee.

    Pro Tip

    Think a balance transfer card is the right move for your finances? We’ve put together a list of the best balance transfer cards currently available.

    4. Take Out a Loan

    You might look at getting a loan to consolidate and refinance your debts. If you get a loan with a lower interest rate and pay off your credit cards, that lower rate could potentially save you thousands of dollars in interest.

    This is a realistic way to pay off credit card debt if you currently have little or no money to put toward it. You could look into getting a personal loan or a home equity loan.

    Here’s our step-by-step guide to getting a personal loan. And here’s our guide to home equity loans and home equity lines of credit.

    A website called Fiona can match you with a low-interest loan you can use to pay off all your credit card balances.

    5. Debt Settlement

    The world of debt collections and creditors can be confusing. If you’re being harassed by creditors, don’t give up before finding out your options for assistance.

    Debt Management Program: With a debt management program, a credit counseling company will handle your consolidation in hopes of getting you a better interest rate and lower fees. Here’s an article comparing debt management to the strategy of debt consolidation.

    Pro Tip

    If you owe at least $10,000 in unsecured debt, a company called National Debt Relief will create a customized plan just for you. They’ll negotiate with your creditors to reduce the amount you owe.

    Credit Card Debt Settlement: If you’re in more than just a temporary season of financial instability, and you can’t see yourself affording the amount of credit card debt you owe, debt settlement is an option — although we regard it as a last resort before bankruptcy.

    Most people seek the help of a debt settlement company to do this. Debt settlement reduces the amount of debt you owe, but it will significantly lower your credit score and negatively impact your credit report.

    For more information about these options, check out our ultimate guide to paying off credit card debt.

    A final note of caution: Be careful when seeking help with debt settlement. While some companies are legitimately there to assist you, others take your money and do very little to help your situation.

    Mike Brassfield ([email protected]) is a senior writer at The Penny Hoarder. He knows about credit card debt from personal experience.


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  • What’s a Penny Date? A Low-Cost Romantic Valentine’s Day Adventure

    What’s a Penny Date? A Low-Cost Romantic Valentine’s Day Adventure

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    It’s nearly Valentine’s Day, which means it’s almost time to blow an entire paycheck on a dozen long-stem roses, a six-foot-tall teddy bear and a rare, perfectly aged bottle of Champagne.

    And don’t forget to make a reservation for that fancy restaurant, which is only serving an overpriced “tasting menu” on that particular night!

    Oh, and it wouldn’t hurt to spring for a couple’s massage, too, right?

    Wait, did someone mention a box of chocolates?

    Well, the good news is you can forgo the romantic candles — at this point, your empty wallet is useless and you can just set fire to it and let the soft, warm glow of broke-ness wash over you and your date.

    Romance, amiright?

    But it doesn’t have to be like that.

    A Date Idea That Only Costs a Penny

    In fact, if you’re in it for the long haul, finances can be a pretty touchy subject, and the last thing you need is to add another pricy line-item to your couple’s budget this month.

    Luckily, there’s a way to take your sweetheart on a fun and interesting date — the likes of which they’ve probably never been on before — that won’t cost you more than, say, a penny.

    (Which just so happens to be our favorite coin!)

    The Penny Date Rules

    Here’s how it works:

    1. Find a penny. If you don’t have a penny handy, it’s just a matter of yanking the cushions off the couch, checking the cupholder of your car or sneaking one out of your kid’s piggy bank while they’re at school.

    2. Have your date pick a number (without telling them what it’s for) or use an online random number generator. This number is the number of turns you’ll take throughout your date.

    3. Hop in the car or, if you’re walking, pick a corner to start on.

    4. To start the adventure, have your date flip the penny. If it lands heads up, turn right. If it lands tails up, turn left.

    5. Start walking or driving in whichever direction the penny instructs. Stop and flip again each time you reach a stop sign, stop light or intersection.

    6. Continue flipping the penny, turning left or right at each juncture, until you’ve reached the number you set at the beginning of the night.

    7. Once you reach that number, stop the car (or, uh, your legs).

    8. Wherever you are, that’s where your date will take place.

    If you look up to find a park with a lovely, lit gazebo, good for you!

    If all you happen to see before you is a gas station, I wish you the best of luck throwing a romantic spin on that one. Yikes.

    But it’s all part of the adventure, right?

    No, really. The fun of the penny date is in the mystery, the confusion and the downright ridiculousness of your time together. It’s a way to do something different, something that you wouldn’t have done ordinarily, and to have fun doing it.

    Either way, it’s sure to be a memorable date, right?

    A Few Notes to Help You Create the Perfect Penny Date

    To keep costs low, pack a picnic meal to bring with you. That way, wherever you end up, you’ll have dinner ready to go.

    You don’t have to be in a metropolitan area to make this date work, but you’ll want to adjust your number of turns based on your location. Thirty turns won’t take very long on city streets, but if you’re driving long back roads, 30 turns could take forever.

    Even if there’s a stop sign or traffic light, don’t turn into a parking lot or street with no outlet. Just move along to the next intersection and flip the penny there.

    Keep your adventurous spirit open to the experience. Chances are, you’re going to end up somewhere less than romantic (or maybe even downright weird), but it’s all part of the fun of a date night left totally up to chance.

    More often than not, a penny date offers up a little nonsense, a lot of laughter and a couple of really great stories.

    Besides, like any good relationship, a penny date is about the journey — not the destination.

    Right? (No, left.)

    Grace Schweizer is the SMS editor at The Penny Hoarder. Deputy editor Tiffany Wendeln Connors updated this post.


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  • Pay for Your Seat Location? No Way. Here Are 16 Ways to Save at the Movies

    Pay for Your Seat Location? No Way. Here Are 16 Ways to Save at the Movies

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    Now that America’s largest movie theater chain is going to start charging ticket prices based on where your seat is located, it’s time to think about ways you can save money at the movies.

    Seriously, folks, AMC Theatres’ new pricing policy has a lot of people riled up. Just for example, actor Elijah Wood says it’ll penalize moviegoers who have lower incomes. “The movie theater is and always has been a sacred democratic space for all,” Frodo tweeted.

    Still, by the end of the year at every AMC theater, seats in the front will be cheaper while the best seats in the middle will cost more.

    If you ask us, it’s just another way for them to gouge you.

    16 Ways to Save Money at the Movie Theater

    Fortunately, we’ve got ideas for how you can save a buck or two at the movies. Check out our list of 16 ways to spend less at the theater.

    1. Go to Matinees

    Going to a matinee can knock up to 30% off the ticket price, but watch out for the theater’s definition of “matinee.”

    Shows before 4 p.m. used to be called matinees at most theaters, but some now charge the evening price for anything that starts after 3 p.m.

    2. Go to Pre-Matinees

    Some theaters offer an even better deal for really early movies — “pre-matinees.”

    These typically apply to movies starting before noon.

    3. Go on Tuesday!

    America’s three largest movie theater chains all have the same discount day — Tuesday. You also have to join their customer loyalty club to get the Tuesday discount, but that’s usually free.

    AMC: The biggest chain in the U.S. has Discount Tuesdays if you’re a member of its loyalty club, which is called AMC Stubs. You can join for free, although there’s also a premium option you can pay for if you want. As for Discount Tuesdays, the ticket price varies by location.

    Regal Cinemas: These theaters have Regal Value Days on Tuesdays, when Regal Crown Club members get discounted movie ticket prices and 50% off popcorn. The club is free to join. A look at this theater-by-theater list shows that most Regal theaters charge either $5 or $5.95 for movie tickets on Tuesdays.

    Cinemark: This theater chain has Discount Tuesdays if you’re a Cinemark Movie Rewards member. There’s a free option or a $10-per-month option that gets you more perks. Again, the ticket price on Tuesdays varies by location.

    4. Buy at Your Warehouse Club — In Person or Online

    Seriously, you should make full use of those warehouse club memberships! If you shop at Sam’s Club or Costco, ask about theater tickets at the customer service desk. They often have them at a discount.

    Costco also sells theater tickets online at a discount, and so does Sam’s Club.

    5. Try Groupon

    It’s kind of a crapshoot, obviously. But you can always hop on Groupon to see what kind of movie ticket deals are going on there. We see deals for AMC, Regal and Cinemark theaters there, off and on.

    The website LivingSocial is another option to check here.

    6. Eat Before You Go

    These days, lots of movie theaters go well beyond popcorn, Sno-Caps and Raisinets. If you’re hungry, you’ll be super tempted by the hot dogs, nachos, cheese fries, chicken tenders, pizza…

    And they’re all way overpriced, of course.

    You’d be better off eating in a restaurant beforehand.

    Save even more money by eating at home before you go.

    7. Share the Snacks

    Theaters don’t want you to bring your own food.

    But we haven’t seen them stop parents who bring their own paper bags to divvy up a large bucket of popcorn between the kids.

    It’s much cheaper than buying a small bag of popcorn for each person. Share other snacks to save money.

    8. Get Special Discounts

    You might qualify for special discounts — and you could save up to 35%. Here are some examples:

    9. Buy Discount Movie Gift Cards

    There are a number of places where you can buy discounted theater gift cards online. For example, you can buy AMC gift cards on online marketplaces like Raise for discounts of up to 25%.

    Use them for matinees, and your total cost might be less than half of what an evening ticket costs.

    10. Go to Discount Theaters

    These are also called late-run movie theaters. You’ll see the same movie, so why not wait a couple of months and catch it for less?

    Just search “discount theater” plus the name of your city to locate cheap movies.

    11. Join the Club

    Most theaters have a club or loyalty program you can join to save money. Here are some examples:

    AMC

    The largest theater chain’s loyalty club, AMC Stubs, has three tiers.

    • Insider is free and gets you perks like Discount Tuesdays, which is probably the main attraction here. You also earn $5 back for every $50 you spend.
    • Premiere seems pricy to us. It costs $15 per month and lets you reserve theater tickets online for free. You can also upsize your popcorn and fountain drinks. Doesn’t sound like a great deal.
    • A-List lets you see three movies a week for $20 a month. That’s a lot of movies.

    Regal Cinemas

    The Regal Crown Club is free to join and gets you access to Regal Value Days on Tuesdays, where you get discounted ticket prices and 50% off popcorn.

    Cinemark

    Cinemark has Movie Fan, which is free, and Movie Club, which costs $10 a month and gets you one movie a month and 20% off concessions.

    12. Go to a Drive-In Theater

    Check DriveInMovie.com or DriveInTheater.com to see if one of the few remaining drive-in theaters is near you.

    Call or check online to see if they have discount days or a price-per-car night when you can bring the whole family or split the cost with friends. And check out our tips for maximizing the fun.

    13. Go to Advance Screenings for Free

    Movie companies sometimes offer free tickets to the public for advance screenings. If you get one, go early — movie screenings often get overbooked.

    Here are a few places you can check to see if anything is available near you:

    See The Penny Hoarder’s post on ways to get free tickets to advance movie screenings for more tips on how to snag these freebies.

    14. Buy in Bulk for a Discount

    At BulkTix.com, save up to $5 per ticket for some theaters if you buy more than four at a time. At Costco, you get a discount when buying 10-packs of tickets at the store.

    15. Go to Late Shows

    Some theaters offer cheap tickets for late-night shows — sometimes at matinee prices.

    Showings typically start around midnight. If you’re a night owl, this can be a great way to avoid the crowds and save a few bucks.

    16. Sit in the Front Row at AMC Theatres

    If you’re OK with sitting in the front row, you’re in luck! It’s not really most moviegoers’ favorite spot, though.

    By the end of the year at all of AMC’s movie theaters, here’s how the tickets will be priced:

    The most desirable seats in the middle of the theater will be priced at a “slight premium” compared with the regular theater seats, which will remain the most common choice, AMC says. Those regular seats will continue to cost the current price. Seats in the front row are “value seating” and will cost less than the typical seat.

    It’s up to you, but you might want to avoid neck strain and stick with the regular seating. You can always save a few bucks by not buying those Raisinets.

    Mike Brassfield ([email protected]) is a senior writer at The Penny Hoarder. Steve Gillman is a former contributor to The Penny Hoarder.


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  • Uncle Sam Wants You! And He’s Willing to Pay a $50,000 Signing Bonus

    Uncle Sam Wants You! And He’s Willing to Pay a $50,000 Signing Bonus

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    A group of students stand attention after physical training exercises for the Army.


    Students in the new Army prep course stand at attention after physical training exercises at Fort Jackson in Columbia, S.C., Aug. 27, 2022. The U.S. Army will pay up to $50,000 to recruits who qualify and sign on for a six-year active-duty enlistment. Sean Rayford/AP Photo

    Uncle Sam wants you, and he’s willing to pay you a good chunk of cash.

    The U.S. Army announced that it will pay up to $50,000 – its largest bonus ever – to recruits who qualify and sign on for a six-year active-duty enlistment. The bonus package is based on a number of factors that include the selected career field, individual qualifications, length of the contract and the ship date for training.

    “This is an opportunity to entice folks to consider the Army,” said Brig. Gen. John Cushing in a press release.

    Since 2020, the Army has struggled, just like the private sector, in attracting talent, and officials hope the incentives coupled with some other changes will begin to draw qualified young people.

    “We are still living the implications of 2020 and the onset of COVID, when the school systems basically shut down,” Maj. Gen. Kevin Vereen, head of Army Recruiting Command, told the Associated Press. “We lost a full class of young men and women that we didn’t have contact with, face-to-face.”

    Here’s how the new incentives work.

    How to Score Up to $50K in Army Signing Bonuses

    The career-based incentives range from $1,000 to $40,000 depending on the field. The more difficult-to-hire positions will offer a higher bonus. Occupations can range from well-known careers, like infantry and Special Forces, to lesser known, such as radar repairers, signal support systems specialists and motor transport operators.

    The Army is also offering “quick ship” bonuses – which increased to $40,000 in 2022  – for recruits who can go to Basic Training within 30 days. The sooner the recruit can leave, the more cash he or she will receive.

    Going to Airborne Training can bring $10,000 and Ranger Training can bring up to $20,000. Foreign language skills can bring in as much as $40,000 in specific career paths.

    A combination of all these incentives will bring the largest bonuses into play.

    “For example, a six-year enlistment as an air and missile defense crewmember starts with $40,000. Right now, that occupation also qualifies for a $9,000 critical accession bonus,” the Army said in its press release. “If the individual decides to ship to training within the next 30 days, the addition of a quick-ship bonus would get the recruit to the maximum amount.”

    The Army is also promoting other new changes to attract talent: shorter, two-year enlistments for 84 different career fields and the opportunity for recruits to pick their duty station.

    “We know this generation likes to have the opportunity to make their own decisions, so now they can choose where they want to be assigned after training,” Vereen said. “…Many people are apprehensive about long-term commitments right now, so we think having a shorter option will help give them some time to see if the Army fits their life and goals.”

    Robert Bruce is a senior staff writer at The Penny Hoarder covering earning, saving and managing money. He has written about personal finance for more than a decade.


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  • Extra SNAP Benefits End Soon — 9 Ways to Make Your Food Dollars Stretch

    Extra SNAP Benefits End Soon — 9 Ways to Make Your Food Dollars Stretch

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    Millions of Americans who rely on Supplemental Nutrition Assistance Program, or SNAP benefits, will receive less money for food starting in March.

    SNAP benefits, commonly known as food stamps, received a boost three years ago as part of a pandemic-era emergency allotment.

    But these extra benefits — which gave recipients an average of $95 or more a month to buy groceries — are set to expire in March under a new government spending bill.

    How Are SNAP Benefits Changing?

    For nearly three years, emergency allotments allowed all SNAP households to receive an additional $95 per month, or the maximum benefit amount for their household size, whichever was greater.

    Residents in some states have already seen their benefits cut. Thirty-two states plus the District of Columbia are still providing the boost, but only until March, according to the U.S. Department of Agriculture. In South Carolina, benefits return to normal this month.

    Bigger benefits have already expired in these states: Alaska, Arizona, Arkansas, Florida, Georgia, Idaho, Indiana, Iowa, Kentucky, Mississippi, Missouri, Montana, Nebraska, North Dakota, South Dakota, Tennessee and Wyoming.

    Impact of Smaller SNAP Benefits on the Most Vulnerable

    About 41 million Americans with low-incomes received SNAP benefits in 2021, according to the Center on Budget and Policy Priorities.

    More than 80% of SNAP recipients are part of a working family, a person with a severe disability or a senior citizen living on a fixed income.

    Seniors on Social Security will be hit hardest by the pull back in SNAP benefits. Social Security gave recipients a record 8.7% increase this year due to inflation — but it’s a double-edged sword.

    Social Security counts as income when determining SNAP eligibility, so bigger checks means seniors can expect further reductions in their SNAP benefits by March.

    The news comes amid rising food prices and the end of other pandemic-era measures, including the child tax credit and universal free school meals.

    “It feels like yet another example of our society punishing people for being poor,” said Mary Lee Downey, founder and CEO of The Hope Partnership, a nonprofit providing poverty alleviation services in Kissimmee, Florida.

    “As these benefits disappear, we can expect to see drastic increases in families seeking services just to feed their children and keep a roof over their heads,” Downey said.

    9 Ways to Save Money on Food as SNAP Benefits Expire

    For the millions of Americans impacted by a drop in SNAP benefits, affording groceries is about to get even harder.

    Here are 12 ways to save money on food to help stretch your budget.

    1. Reach Out to a Food Pantry

    Asking for help isn’t easy, but food pantries provide a legitimate way to get food for free. It may be your best option if there simply isn’t enough money in your budget anymore.

    You can use this food pantry locator tool from Feeding America to find food banks in your area.

    You can also call United Way’s 211 service to find other local resources.

    2. Master the Art of Meal Prep

    Meal prep is the best way to save money on groceries while reducing food waste at the same time. But finding time to do it can be tough.

    Our tips for budget meal planning include keeping an eye on sales, shopping for specific recipes or dishes, buying what’s in season and more.

    3. Get Creative With Your Food Pantry Haul

    Food pantries usually provide enough food to last a week, but there’s a few ways to make it stretch longer.

    You can pair cheap produce with food pantry staples like black beans and rice to create a filling meal for less than $2.

    When it comes to keeping your kitchen stocked with those supplementary meal-enhancing ingredients, pick up a few items here and there when you go grocery shopping instead of buying in bulk.

    4. Make Entrees That Do Double Duty

    Eating the same thing for lunch and dinner isn’t exciting, but it’s a proven way to save money on food.

    Check out Taste of Home’s 150 freezer casserole recipes to find meals for your family that you can use for at least two meals.

    5. Find Out What Day Your Grocery Store Marks Down Items

    Grocery stores usually discount items that are close to expiring on a specific day of the week. Asking a store associate what day and time they mark down items is a smart way to score discounts you won’t find in your weekly grocery store ad.

    6. Get Super Cheap Food With These 2 Apps

    Two apps are working to reduce food waste — and pass the savings on to you.

    Too Good To Go and Flashfood connect businesses with consumers willing to purchase food near its expiration date at a steep discount.

    There are tons of stories online of frugal folks finding dealssteep discounts from restaurants, bakeries and grocery stores by checking these apps, which often provide bundles of food for less than $15.

    The biggest drawback about these food waste apps is they’re only available in select U.S. cities. Still, it is worth downloading them (they’re both free) to see if you can score discounted food.

    7. Check High and Low on the Grocery Shelves

    Next time you go to the grocery store, check the top and bottom shelves first. Grocery stores know that most people only look at the middle area, so that’s where more expensive items tend to be.

    Pro Tip

    Before your next grocery run, sign up to be on the Nielsen Consumer Panel. If selected, you’ll use their app to scan grocery items’ barcodes, which earn you points you can redeem for gift cards.

    8. Consider A Meatless Monday

    With meat prices higher than ever, picking just one day a week to go meat-free can cut your costs.

    Try these 10 meatless Monday recipes to replace chicken, pork, beef and fish once a week, save money and stretch your meat supply.

    9. Learn New Recipes That Fit Your Budget

    We all need a little inspiration sometimes.

    Glossy cookbooks and celebrity cooking shows are nice. But where can you actually learn to cook, in your own kitchen, on a budget?

    Check out this list of seven budget food bloggers who can teach you how to cook cheap, delicious meals at home.

    A chef named Frankie Celenza hosts a series called “Struggle Meals” which teaches you how to cook dishes for $2 or less per serving along with ways to save money on groceries and practical meal planning advice.

    Looking for even more ways to save money on food? Check out these 334 tips from our best food articles. 

    Rachel Christian is a Certified Educator in Personal Finance and a senior writer for The Penny Hoarder. She focuses on retirement, investing, taxes and life insurance. 


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  • Fly All You Want on Frontier Airlines With This $399 Summer Pass

    Fly All You Want on Frontier Airlines With This $399 Summer Pass

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    Frontier Airlines just unveiled a new summer pass that gets you unlimited flights from May to September for only $399.

    It’s called the GoWild! Summer Pass. But if you want one, you’ll need to act quickly.

    There are a limited number of passes available at the $399 introductory rate, and they’re available only for a limited time, Frontier says. The airline’s website indicates the regular retail price for the pass will be $999.

    With the pass, you can fly as often as you like from May 2 to Sept. 30 (other than about a dozen blackout dates that are listed online). Given that five-month time span, students and teachers and vacationing families might be especially interested in the deal.

    Of course, you also have to be willing to fly Frontier, which is an ultra-low-cost carrier. Frontier draws its share of complaints about service, and it charges extra fees for everything from beverages to carry-on bags and assigned seats.

    Not only that, but Frontier recently got rid of its customer service call line and switched to a messaging-based system, annoying some passengers. So have fun with that.

    Still, 400 bucks for unlimited flights, even if it’s on a budget carrier — that’s a deal, especially if you’re looking to fly a lot.

    No other U.S. airline currently has an all-you-can-fly deal. JetBlue used to have an “All You Can Jet” pass that lasted a month, but the airline no longer offers that except as a prize in promotional contests.

    What Does ‘Available for a Limited Time’ Mean?

    So what does Frontier mean when it says $399 is an “introductory rate,” available only for a limited time?

    We have an example of what that means.

    In November, Frontier announced an all-you-can-fly pass for 2023. Called the GoWild! Pass, the annual pass launched at a price of $599. Within just a few weeks, the price went up to $799. Now the price is $1,299 for a one-year flying pass, with a year of unlimited flights starting on May 2.

    ‘A Truly Epic Summer’

    The GoWild! Summer Pass can’t be transferred to another person. Also, this is important — unless you cancel after the summer, it will automatically renew for next summer, probably for the regular retail rate of $999.

    Each flight costs 1 cent, plus any taxes and extra fees, like for checked bags, carry-on bags or specific seats on the plane.

    “For people with flexible schedules, this is a terrific opportunity to have a truly epic summer and then some, soaking up rays on the beach, exploring national parks and visiting new cities,” said Daniel Shurz, a senior VP for Frontier.

    Based in Denver, Frontier is a budget carrier that flies to more than 100 cities. This summer, it’ll add new nonstop routes from five mainland U.S. cities to Puerto Rico.

    Remember, the $399 summer passes are available on a first-come, first-served basis. So if you’re interested in this deal, it’s best not to dawdle.

    Mike Brassfield ([email protected]) is a senior writer at The Penny Hoarder.


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  • These Dog Walkers Are Making Bank. Here’s How You Can Do It, Too

    These Dog Walkers Are Making Bank. Here’s How You Can Do It, Too

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    Break out the leashes and the poop bags! There’s never been a better time to be a dog walker.

    Who says so? Well, The New York Times says so. It just ran an article about professional dog walkers in Manhattan who are making more than $100,000 a year.

    And, sure, most of us don’t live in Manhattan, and most dog walkers don’t really earn six-figure salaries. But this is still a lucrative time to walk dogs for a living, either full time or as a side gig. And it’s all because of the pandemic puppies.

    Pandemic pups? Yup. During the quarantine conditions of the COVID-19 pandemic, when we as a collective nation were all stuck at home, more than 23 million American households acquired a dog or a cat, according to the American Society for the Prevention of Cruelty to Animals.

    That’s nearly 1 in 5 households! That’s tens of millions of new pets that need tending to, every single day. “With many Americans back in the office, somebody has to walk all those pandemic puppies,” the Times pointed out.

    You spend a lot of money on your pets. Maybe it’s time they return the favor. PetSmart is seeking a dog or cat to be its “chief toy tester.” The gig pays $10,000.

    How to Get Started as a Dog Walker

    Sounds great, right? Lots of fresh air and exercise and dogs, what could be better? But how can you set yourself up for success?

    You could get started the old-fashioned way: Tell all your friends and neighbors, then put up some handmade leaflets in strategic spots around your town. Post it on Craigslist and announce it on all your social media profiles, too.

    These days, though, most beginning dog walkers are finding work on apps.

    The rise in dog walking as a job or side gig can be partly attributed to the rise of dog-walking and pet-sitting apps that have hit the market in recent years, modernizing this whole process. The most popular ones are Rover and Wag, which were founded in 2011 and 2015, respectively.

    Here’s our article comparing the two, plus a few similar apps.

    These apps are sort of like Uber for dog walking in that you take requests in your area. Depending on where you live, you can accept dog walks that are ASAP, meaning you need to arrive for the walk within a certain period of time, or you can accept a walk that’s scheduled for a later time.

    You also post your availability for dog walking gigs in your area. Dog owners near you can look at your profile, your prices and your availability, then book a walk with you through the app. So you’ll want to make sure your profile looks inviting and features photos of you interacting with pets.

    If you hit it off with a pup and its owner, you can schedule ongoing walks with the same client.

    You have to be 18. Both apps do a basic criminal background check.

    And if you’re finding dog walking appointments hard to come by, you might branch out into pet sitting or even pet boarding. Both apps offer that.

    These are the 29 best side hustles to help you make more money. (And, yes, pet sitting made our list.)

    How Much Does a Dog Walker Make?

    There’s not a simple answer to this question. Pay rates are all over the map, and your total earnings will depend on how aggressive you are about seeking out work and what kind of services you offer.

    According to Rover, here are the average prices for each service:

    • Dog walking: $20 a walk
    • Drop-in visits: $20 a day
    • Doggy day care: $35 a visit
    • Overnight boarding or sitting: $40 a night

    A search on Rover in our city found dog walkers charging $15 to $25 per walk.

    “Many sitters on Rover use the platform as a traditional side gig, taking care of pets for extra income,” Rover trends expert Kate Jaffe told The Penny Hoarder. “We make it easy to manage their business, whether they work full time and want to dog sit on the side, or they’re a student looking for flexible work, or a retiree who wants to stay active and avoid dipping into their retirement savings.”

    Not sure how much to charge? Look at what other people in your area are charging. If you’re just starting out, set your rates on the low end while you work to build up your clientele.

    For example, Wag allows you to set rates for 20-, 30- and 60-minute walks, and it shows you a range of what the average walker in your area is charging.

    Once you set your rates, your clients pay your rate plus a 20% fee to Rover or a 40% fee to Wag.

    Pet sitting and pet boarding gigs typically pay more than dog walking because they require more than a brief commitment of your time.

    “Given the duration of most overnight care (boarding and sitting) requests, these tend to be the most lucrative,” said Kaitie Edel, senior marketing manager for Wag. “Becoming a pet parent’s preferred caregiver or accepting a recurring request can also be very lucrative, given the long-term relationship it creates.”

    In short, you’re probably not going to earn more than $100,000 a year like a professional Manhattan dog walker who caters exclusively to the rich elite.

    But all those pandemic puppies need to be walked, and someone has to walk them.

    If you’re looking for extra cash, it could be you.

    Mike Brassfield ([email protected]) is a senior writer at The Penny Hoarder.


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  • With Pharmacies Cutting Hours, Maybe It’s Time to Fill Your Meds Online

    With Pharmacies Cutting Hours, Maybe It’s Time to Fill Your Meds Online

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    Picking up your prescriptions might get a little trickier soon because the nation’s biggest pharmacy chains are cutting back their hours.

    CVS, Walgreens, Walmart and Rite Aid have each announced plans to scale back their pharmacies’ operating hours because there’s an ongoing shortage of pharmacists.

    Depending on where you live and how much flexibility you have to pick up your meds, this might become a problem for you. If it does, just know that you have other options.

    Online pharmacies are becoming increasingly popular, and they’ll ship your medications right to you — although this option isn’t for everyone. Here’s an article looking at the pros and cons of online pharmacies and comparing six of the most popular ones. We’ll summarize its findings a little lower.

    What’s Going On With Pharmacies?

    The big brick-and-mortar drugstore chains like CVS and Walgreens are having a tough time keeping their pharmacies open as long as they’d like to. Here’s a rundown of what’s happening.

    • CVS, America’s largest drugstore chain by revenue, plans to cut hours at two-thirds of its 9,000 locations by March. The new hours of operation at those pharmacies will vary.
    • Walgreens, which includes the chain Duane Reade, announced in December it was cutting hours due to labor shortages. (So did Rite Aid.)
    • Walmart plans to change pharmacy closing hours from 9 p.m. to 7 p.m. at most of its 4,600 stores in March.

    These three chains operate nearly 24,000 pharmacies across the country, so it’s a big deal when they make a change like this.

    This is happening due to a shortage of pharmacists. There’s a self-perpetuating cycle where a shortage of pharmacists leads to stressful job environments for pharmacists, which contributes to burnout and more pharmacists quitting their jobs.

    The Bureau of Labor Statistics forecasts about 13,600 job openings for pharmacists per year over the next decade, to replace pharmacists who are either retiring or leaving the field to pursue different careers.

    It’s not just the big chains that are affected. Three out of four independent pharmacies are struggling to fill open positions, according to the National Community Pharmacists Association.

    The Pros and Cons of Online Pharmacies

    So what does this mean for you? It means it might get a little trickier to pick up your meds when you need them.

    If you’re thinking about switching to an online pharmacy instead of a brick-and-mortar location, here’s what you need to know. Here’s a deep dive into the subject, and here it is summarized:

    Pros of Online Pharmacies

    Pricing and home delivery are the main benefits.

    Shopping around: It’s easy to find the best deal. With options from companies like Walgreens, Amazon and Express Scripts, you can quickly check the prices and availability of your prescribed medications.

    Saving money: Online pharmacies are sometimes cheaper than in-person pharmacies, too.

    Delivery: Your prescriptions are shipped directly to your home. Many online pharmacies even have free shipping and free auto-refills with a script from your doctor.

    With Amazon’s new service RxPass, Prime members can pay $5 a month for as many eligible generic meds as they need and have them delivered for free.

    Cons of Online Pharmacies

    As great as online pharmacies can be, there are some drawbacks.

    Consultations: You may not be able to consult with a pharmacist about your medication in real time. Some online pharmacies offer live chats or the ability to call in to a trained pharmacy professional, but some don’t.

    Generics: They may swap your brand-name medication for a generic one without you knowing. In-store pharmacies do this, too, but it’s easier to correct them if you want to.

    Insurance: Some online pharmacies require you to have specific insurance coverage that partners with them.

    Here’s that comparison of six popular online pharmacies.

    Before you go digital with your prescriptions, there’s some food for thought. At least you wouldn’t have to worry about whether the pharmacy will be open.

    Mike Brassfield ([email protected]) is a senior writer at The Penny Hoarder.


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  • February Class Action Settlements Involve the Tampa Bay Buccaneers, American Airlines, Avis

    February Class Action Settlements Involve the Tampa Bay Buccaneers, American Airlines, Avis

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    Consumers who file a claim before February settlement deadlines could receive cash payments and other benefits. Settlements are available for defective products, false advertising, non-compliant receipts and more.

    February 2023 Class Action Settlements

    LeafFilter Debris Accumulation Class Action Lawsuit Settlement

    LeafFilter agreed to a class action settlement to resolve allegations its gutter filter system doesn’t work as intended and can become clogged with leaves and other buildup.

    The settlement benefits consumers who appear in LeafFilter’s customer care database with a debris-related final issue code for their service request between Jan. 1, 2016, and June 24, 2022.

    According to plaintiffs in the LeafFilter class action lawsuit, the company’s gutter filter system fails to work as advertised. The system allegedly becomes clogged with leaves, twigs and other items, preventing water from passing through gutters as intended. As a result, rainwater allegedly flows out of gutters and onto homes — causing water damage.

    In order to receive settlement benefits, LeafFilter purchasers must submit a valid claim form by Feb. 4, 2023.

    Root Insurance Total Loss $1.5M Class Action Settlement

    Missouri policyholders can benefit from a $1.5 million class action settlement with Root Insurance resolving claims that the insurer failed to include sales tax on total loss payments.

    The settlement benefits Missouri policyholders with automotive insurance policies from Root Insurance who submitted a total loss physical damage claim between Jan. 5, 2011, and Aug. 4, 2022.

    Plaintiffs in the total loss class action claim that they were significantly underpaid as a result of Root Insurance’s alleged failure to include sales tax in total loss payments. This policy allegedly denied policyholders hundreds or thousands of dollars in violation of policy terms.

    The deadline to submit a claim with the Root Insurance total loss settlement is Feb. 4, 2023.

    Celsius Beverages False Advertising $7.8M Class Action Settlement

    Celsius agreed to pay $7.8 million to resolve a class action lawsuit claiming that the company falsely advertised its beverages as containing “no preservatives.”

    The settlement benefits those who purchased Celsius beverages between Jan. 1, 2015, and Nov. 23, 2022. The settlement covers Celsius Live Fit, Celsius Heat, Celsius BCAA+Energy, Celsius with Stevia, Celsius On-The-Go powdered drinks and Flo Fusion powdered drinks.

    Celsius allegedly advertised its beverages and powdered drinks as containing “no preservatives” despite containing citric acid — a flavoring agent and preservative ingredient. Consumers say they wouldn’t have paid as much for the drinks if they knew the truth about their ingredients.

    In order to receive a settlement payment, purchasers must submit a valid claim form by Feb. 13, 2023.

    Salmon Antitrust Indirect Purchasers $33M Class Action Settlement

    A $33 million class action settlement between salmon farms and indirect purchasers will resolve claims that the salmon companies conspired to raise and fix the price of salmon products.

    The settlement benefits consumers who indirectly purchased (not from the manufacturer) farm-raised salmon or salmon products in certain states between April 10, 2013, and Nov. 17, 2022. The settlement covers purchases made in Alabama, Arizona, Arkansas, California, the District of Columbia, Florida, Guam, Hawaii, Illinois, Iowa, Kansas, Maine, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Mexico, New York, North Carolina, North Dakota, Oregon, Rhode Island, South Carolina, South Dakota, Tennessee, Utah, Vermont, West Virginia or Wisconsin.

    Plaintiffs in the antitrust class action lawsuit accused Mowi Ducktrap, Grieg Seafood, Sjór, SalMar, Lerøy Seafood and Cermaq of conspiring together to raise the price of salmon products by manipulating a salmon price index. As a result of this scheme, consumers allegedly paid an inflated price for salmon when purchasing the products from retailers.

    Consumers can file a claim with the settlement until Feb. 17, 2023.

    Adobe Stock

    Tampa Bay Buccaneers Unsolicited Faxes $19.75M Class Action Settlement

    The Tampa Bay Buccaneers agreed to pay $19.75 million to resolve claims the team sent unsolicited faxes to thousands of customers.

    The settlement benefits individuals who received one of the 343,122 faxed advertisements sent by the Tampa Bay Buccaneers between July 14, 2009, and June 9, 2010.

    According to the Telephone Consumer Protection Act (TCPA) class action lawsuit, the Buccaneers sent junk faxes promoting its football games and prompting recipients to order tickets through Ticketmaster. Plaintiffs in the case say they never consented to receive these faxes, making the communications a violation of federal law.

    In order to receive a settlement payment, fax recipients must submit a valid claim form by Feb. 6, 2023.

    American Airlines Bag Fees $7.5M Class Action Settlement

    American Airlines agreed to pay $7.5 million to resolve claims it incorrectly charged customers baggage fees despite promising them free checked bags.

    The settlement benefits consumers who were charged to check a bag with American Airlines after Feb. 24, 2017, for tickets issued before April 9, 2020. Consumers must also meet one or both following criteria:

    • They received an email from American Airlines confirming the purchase of air travel that stated passengers could check one or more bags for that ticketed trip for no charge (or for “USD 0.00”).
    • They were traveling within the United States and held an American Citi or Barclays credit card entitling the passenger to check the first bag for free. This includes passengers on international trips who were charged to check their first bag for the entire domestic portion of their itineraries in addition to checking bags for the international portions.

    Passengers in the American Airlines class action lawsuits accused the airline of false advertising. The airline allegedly promised travelers they could check their bags for free, only to charge them baggage fees regardless of its previous promises.

    The deadline to submit a claim with the American Airlines settlement is Feb. 22, 2023.

    Avis Budget e-Toll Related Charge Class Action Settlement

    Avis Budget Group agreed to a $45 million class action settlement to resolve claims it charged hidden toll fees on car rentals.

    The settlement benefits consumers who rented an Avis Budget vehicle and paid Avis, Budget and/or the Highway Toll Administration for the use of e-Toll services. For rental transactions originating in Florida, Texas or Colorado, the class period is March 2, 2009, to Dec. 31, 2015. For rental transactions originating in all other states, the class period is April 1, 2007, to Dec. 31, 2015.

    According to the Avis Budget class action lawsuit, the car rental company violated consumer protection laws by charging undisclosed fees for electronic toll, or e-Toll, payment systems. Renters say they weren’t properly informed of these fees, causing them to pay more to rent an Avis Budget vehicle than expected.

    In order to receive a settlement payment, car renters must submit a valid claim form by Feb. 28, 2023.

    A man looks stressed out as he receives a phone call.
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    Great Lakes Educational Loan Services Debt Collection $1.275M Class Action Settlement

    Consumers who received excessive debt collection phone calls from Great Lakes Educational Loan Services could benefit from a $1.275 million class action settlement.

    The settlement benefits Massachusetts residents who received more than two phone calls from Great Lakes Educational Loan Services regarding a debt within a seven-day period since Oct. 28, 2015.

    Plaintiffs in the debt collection class action lawsuit claim that Great Lakes Education Loan Services violated Massachusetts law by contacting consumers more than twice in a seven-day period regarding a debt. These calls were excessive, the plaintiffs contend.

    The deadline to submit a valid claim form with the debt collection settlement is Feb. 27, 2023.

    Hibbett Receipt Privacy $6M Class Action Settlement

    Hibbett agreed to pay $6 million to resolve claims that it violated federal law by showing too many digits of payment card numbers on receipts.

    The settlement benefits consumers who used a credit or debit card at a Hibbett, City Gear or Sports Additions store and who received a receipt that displayed more than the last five digits of their payment card number between Dec. 15, 2020, and Feb. 23, 2022.

    According to the Fair and Accurate Credit Transactions Act (FACTA) class action lawsuit, Hibbett unlawfully printed too many digits on point-of-sale receipts at its stores. Hibbett has denied willful violations of federal law and maintains that any non-compliant receipts were caused by software errors.

    To receive settlement benefits, class members must submit a valid claim form by Feb. 8, 2023.

    Circle K Discrimination $8M EEOC Settlement

    Circle K agreed to pay the U.S. Equal Employment Opportunity Commission (EEOC) $8 million to resolve claims that it discriminated against disabled and pregnant workers.

    The settlement benefits Circle K workers who sought reasonable accommodations for a disability or pregnancy and were subsequently fired between July 10, 2009, and Sept. 26, 2022.

    The EEOC took legal action against Circle K under federal law, arguing that the company refused to provide disabled and pregnant workers with reasonable accommodations. According to the EEOC, this conduct violated the Americans with Disabilities Act, Title VII and the Pregnancy Discrimination Act.

    Current and former Circle K workers have until Feb. 26, 2023, to submit a valid claim form with the settlement.


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  • Chipotle Hiring Alert: 15,000 New Employees Needed Ahead of Burrito Season

    Chipotle Hiring Alert: 15,000 New Employees Needed Ahead of Burrito Season

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    The sign for Chipotle hangs from outside one of their restaurants.


    Chipotle plans to hire 15,000 new employees. Michael Dwyer/AP Photo

    The football season may be winding down, but burrito season is on the way.

    According to Chipotle, that’s the busiest time of the year — from March to May — when many of us are more than happy to scarf down a burrito or two. With that, the fast-food chain is planning to hire 15,000 new employees in preparation for the coming burrito storm.

    “Our restaurant teams are the core of this organization and with a goal of more than doubling our footprint to 7,000 locations in North America, we are targeting employees today to serve as our leaders of tomorrow,” said Scott Boatwright, chief restaurant officer. “We will continue bringing in new crew to support Chipotle’s aggressive growth plans, while simultaneously promoting and upskilling those currently in role.”

    It’s also all part of a larger campaign in which Chipotle plans to “pull back the foil” and feature behind-the-scenes footage of the daily culinary tasks of its restaurant employees in video clips and documentary-style television spots.

    The chain also plans on highlighting employees’ career progression inside Chipotle. The company said 90% of all restaurant management roles were internal promotions in 2022. Overall, Chipotle promoted 22,000 employees internally.

    The hiring announcement comes as the restaurant industry continues to fight a labor shortage post-pandemic. According to the National Restaurant Association, 62% of restaurant owners said they didn’t have enough employees to support existing demand in November 2022. The industry has slowly added jobs since the height of the pandemic, but overall employment is still down nearly 500,000 since February 2020.

    If you’re looking to get in on the burrito action, visit Chipotle’s career page.

    Robert Bruce is a senior staff writer at The Penny Hoarder covering earning, saving and managing money. He has written about personal finance for more than a decade.


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  • I’m an Idiot. Don’t Fall for the Phishing Scam I Just Fell for

    I’m an Idiot. Don’t Fall for the Phishing Scam I Just Fell for

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    Don’t be like me. Don’t be dumb.

    I feel like a fool. After years of occasionally writing articles about scams and fraud, I fell for a simple phishing scam on my cell phone. I gave up my debit card information to a scammer — possibly one based in the tiny European nation of Montenegro.

    It happened like this: Two days after I mailed a package, I got a text message saying the package was undeliverable. A link took me to an official-looking Postal Service website where I was prompted to enter a card number to “re-mail” the package.

    I typed in my personal financial information, even though in retrospect I obviously should have known better.

    This experience left me with two burning questions:

    1. How did these scammers know I had sent a package in the mail?
    2. Is this something that other people should be worried about? How should they handle it?

    So I spoke with a bunch of online security experts. They disagreed about whether the scammers actually knew I had mailed a package.

    But they all agreed on one thing: This kind of phone texting scam is becoming increasingly common. People need to watch out, the experts say, because the problem is only likely to get worse.

    Unfortunately, phishing scams aren’t the only scams out there. Mystery shopper scams are a thing, too. Here’s how to avoid them.

    How the Scam Worked

    This was a classic phishing attack.

    “Phishing” is when someone poses as a reputable company or organization to get your personal information. They might pretend to be from your bank, or the government or a business you’ve dealt with before. They might ask you for your bank account number, Social Security number, passwords and other information that legitimate companies never ask for.

    Here’s how the attack on me unfolded:

    I recently mailed a package via the U.S. Postal Service. The important thing to know here is that I almost never do this. I rarely mail packages to people, but this was a special occasion.

    Only two days later I got the following text: “[.USPS.] Your package is undeliverable, the address on file did not match the zip code, please update the address.”

    Well! I stupidly clicked on the link provided, which brought me to a website that absolutely looked like an official U.S. Postal Service website. To “re-mail” my package, I typed in my debit card number, expiration date and three-digit verification number.

    In my defense, I was a little tired and preoccupied at the time, so clearly I didn’t think this through. And I had been a little worried about the package I mailed, because it was important.

    That’s why I missed a number of totally obvious red flags — such as the fact that this supposed “U.S. Postal Service” website I visited had an IP address ending in “.me,” which is the internet domain for Montenegro. It’s a smallish European country that’s next to Serbia and Kosovo, north of Greece.

    Once I realized my mistake, I immediately called my bank and canceled my debit card before some scammer in the Balkans could use my information to drain my bank account.

    Right now I have no debit card, which is inconvenient. But here’s what’s really bothering me: How did the scammers know I had mailed a package? I decided to ask some online security experts, including engineers, bank executives and attorneys who specialize in this kind of thing.

    Rental scams are on the rise, too. Here’s how to spot a scam and keep yourself safe.

    What the Experts Are Saying

    “Mail delivery scams start with a seemingly official email or text about a package you’ve sent or a package being ‘sent’ to you,” said Washington, D.C., attorney Allan M. Siegel. “These texts or emails often urge you to click on a link to update personal information or payment methods.”

    Siegel suspects a scammer got my phone number from “bots” located across millions of websites, and cross-referenced it with shipping data.

    Martin Gasparian, an attorney in central California, agreed:

    “Your data was likely taken by bots that prowl millions of sites on the internet,” he said. “In this case, your email or phone number was likely used on an official shipping website but was taken and used by scammers.”

    How?

    “There are several ways for someone to get access to your USPS package information,” said network security engineer Andreas Grant, founder of security company Networks Hardware. “The most common one would be to get their hands on your package tracking information. A package travels a long way before reaching the destination, so a lot of people can be a suspect here.”

    However, other security experts suspect that the scam text I got was probably a lucky guess by the scammer, not the product of inside information.

    “It’s likely they had no way of knowing you were expecting a package. Instead, they will have sent exactly the same message to possibly millions of people,” said Colin Palfrey, chief marketing officer of the personal finance management company Crediful.

    Chris Drake, a telecom security expert who’s the chief technology officer for a communications company called iconectiv, agreed:

    “It is much more likely that they do not really know you are waiting for a package and instead they sent out a million of these and waited for responses.”

    Here’s one thing all these experts agree on: These types of scams are becoming more and more common.

    “People managing online shipping accounts need to be vigilant, as these scams are becoming increasingly sophisticated and difficult to detect,” warned Ben Michael, an attorney with Michael & Associates in Austin, Texas.

    Tips for How to Protect Yourself

    Again, don’t be like me. Pay close attention to every word in a text before you respond to it.

    Here are tips from our experts and the Federal Trade Commission about how to avoid being scammed:

    • Don’t click on links in unsolicited messages, as they may lead to phishing websites.
    • Be aware of red flags, such as poor grammar and spelling, and unfamiliar internet domains.
    • “Anytime you receive a text or email that asks you to reconfirm or reenter your credit card information, check the message carefully,” said Grant, the network security engineer. “Watch out for spelling errors in the URL, as scammers often use a slightly misspelled version of the original domain name.”
    • Keep in mind that scammers want you to act now. That’s a dead giveaway. What’s the rush? It’s because they’re trying to con you into sending money before you find out who’s really on the other end. Resist the pressure to act immediately.

    What to Do if You Sent Money to a Scammer

    Here’s The Penny Hoarder’s step-by-step guide for what to do if you’ve been scammed. And here’s the gist:

    • Lock down your bank accounts and credit cards.
    • Contact the three major credit bureaus.
    • Change your passwords.
    • Report the crime to your local police department, state regulators and the FBI.

    Again, don’t be like me. Pay close attention. Don’t get fooled.

    The scammers are more active than ever, and they’re not going anywhere. Use your head, keep your eyes open, and watch your back.

    Mike Brassfield ([email protected]) is a senior writer at The Penny Hoarder.


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  • Drugs to Your Doorstep: Get 50 Generic Medications for $5/Month From Amazon

    Drugs to Your Doorstep: Get 50 Generic Medications for $5/Month From Amazon

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    Striving to compete with America’s biggest pharmacy chains, Amazon is launching a $5-a-month prescription plan in which Amazon Prime members get as many drugs as they need from a roster of 50 generic medications.

    The medications in question are used to treat more than 80 chronic medical conditions like high blood pressure, high cholesterol, anxiety, acid reflux, diabetes and even male pattern baldness.

    In addition to costing only $5 a month, the medications are delivered to your home for free, Amazon says.

    This new prescription benefit, called RxPass, is Amazon’s latest effort to expand its reach in health care. In the pharmacy industry in particular, Amazon is trying to lure pharmacy customers away from its main competitors — CVS, Walgreens and Walmart.

    If you’re already an Amazon Prime member (which costs $139 a year) and you get your meds somewhere else, it might be worth checking to see how much money you might save by switching to this $5-a-month drug delivery service.

    Here’s Amazon’s list of 50 common generic medications available from RxPass, from Allopurinol (for gout) to Venlafaxine (an antidepressant).

    To sign up, go to the Amazon Pharmacy website.

    Patients don’t use health insurance with RxPass, so you don’t need to worry about deductibles or copays. You’ll be charged a flat $5 monthly fee on top of your monthly Prime membership dues.

    However, patients who are enrolled in government health care programs like Medicare or Medicaid aren’t able to sign up for RxPass.

    How Amazon Pharmacy Works

    The launch of RxPass comes a little over two years after the launch of Amazon Pharmacy, which debuted in November 2020.

    Amazon Pharmacy is now available in all 50 states to Prime and non-Prime members. Customers can transfer existing prescriptions over to the online platform or ask doctors to call in prescriptions directly.

    Amazon Pharmacy’s medications include typical pills and creams, as well as refrigerated prescriptions like insulin. However, it doesn’t offer Schedule II controlled medications (i.e., opioids).

    Aside from the new RxPass, here are some of Amazon Pharmacy’s other features:

    • Upfront price transparency: Amazon Pharmacy allows you to compare the price of the medication between multiple drug companies, and you can determine the cost of each prescription if paying with your insurance copay versus using Amazon Pharmacy’s discount card without insurance. This gives you far greater flexibility than you would get at a traditional pharmacy.
    • Prescription savings card: Amazon Prime members can save up to 80% off generic prescriptions and 40% off brand-name medications when paying without insurance. Prime members can also collect these savings at more than 60,000 participating pharmacies across the country by using Amazon’s digital prescription savings card instead of paying with insurance. This card functions similarly to ones provided by GoodRx and SingleCare, which offer patients significant discounts on prescriptions when they pay without insurance.
    • Free two-day shipping for Prime Members: Amazon Pharmacy is most advantageous if you are a Prime member ($139 a year), as you will earn free two-day shipping. But even if you don’t have Prime, you can still purchase your prescriptions through Amazon Pharmacy. Free delivery takes four to five days, but you can spend $5.99 to expedite shipping (two days).
    • 24/7 customer service: Amazon offers online self-service as well as customer service over the phone with real pharmacists 24/7.

    Amazon does allow you to pay with insurance and accepts most major insurances. The price is likely to be comparable to what you would pay at CVS, Walgreens or Rite Aid as your copay, according to Consumer Reports.

    Amazon Pharmacy accepts all major credit and debit cards. Customers with an HSA or FSA can input their card information to make purchases as well.

    Before You Order From Amazon Pharmacy…

    If you take medications that aren’t covered by RxPass, you have some different calculations to make.

    With e-commerce usage at an all-time high, you may be considering leaving your traditional pharmacy in favor of ordering your prescription from your couch. However, Amazon Pharmacy may not always be the best choice.

    As with any pharmacy, the surefire way to make sure you’re getting the best deal is to call around. Many pharmacies can also do price-matching if you find a cheaper prescription elsewhere, so if you have a preferred pharmacy, you still may be able to save just as much with it as you would with Amazon Pharmacy.

    Don’t forget about GoodRx and SingleCare, which also offer discounts at brick-and-mortar pharmacies. These could get you similar — or even better — savings on specific prescriptions than you’d get with Amazon.

    Most importantly, before opting to buy a prescription without insurance because of the savings, consider your deductible. If you are on a high-deductible health insurance plan and would like to potentially meet that deductible in a given year, note that any money you spend on prescriptions sans insurance will not apply to that deductible, thus making it less likely you will hit the annual requirement to increase insurance contributions to medical bills.

    Amazon Clinic: The Next Step in Amazon’s Health Care Journey

    In November 2022, Amazon officially announced its new Amazon Clinic offering. Still in its early stages, Amazon Clinic offers affordable virtual care for select health conditions, often faster than patients could get in to see an in-person doctor.

    Amazon Clinic is available in 33 states, though Amazon plans to expand in the coming months. For reference, Amazon Pharmacy started in 45 states in 2020 and has since expanded to all 50.

    With Amazon Clinic, patients will be able to see pricing upfront, rather than wait for a dreaded medical bill in the mail weeks after an appointment. However, Amazon Clinic does not yet accept insurance, meaning you’ll be paying out of pocket (and costs won’t go toward your deductible).

    Amazon acknowledges that telemedicine isn’t right for every condition; sometimes you need to see a doctor in person for tests, observation and treatment. If you try to use Amazon Clinic for an issue that doesn’t make sense for virtual health care, Amazon will let you know from the start — so there’s no risk that you’ll pay for a consultation that ultimately offers no solution.

    Qualifying conditions for Amazon Clinic include acne, birth control, eczema, GERD, hair loss, migraines, motion sickness and seasonal allergies.

    The big appeal of Amazon Clinic is the flexibility — you can talk with a doctor about health concerns while at work, cooking dinner or lying in bed. Speed is also noteworthy: While it may take several days or weeks to see a primary care physician, Amazon Clinic can get you connected with a doctor in just a few hours.

    The cost of a consultation will vary by provider but does include follow-up messaging with the provider for two weeks. Consultations are solely message-based (no video). Doctors on the platform can write prescriptions — and you can even utilize Amazon Pharmacy seamlessly after your consultation.

    Mike Brassfield ([email protected]) is a senior writer at The Penny Hoarder. Contributor Timothy Moore is a writer and editor in Cincinnati who covers banks, loans, insurance, travel and automotive topics for The Penny Hoarder.


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  • Your Dog or Cat Could Earn $10,000 as PetSmart’s ‘Chief Toy Tester’

    Your Dog or Cat Could Earn $10,000 as PetSmart’s ‘Chief Toy Tester’

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    Does your dog love to play tug of war? Is he really into chasing a ball? Does he always go after the squeakers in his chew toys?

    If you have a dog or cat that loves toys, we’ve found a lucrative job opportunity for your pet.

    PetSmart is looking for one dog and one cat to take on the job of “chief toy tester” for its 1,660-store chain of pet supply shops. Each pet — and its human parents — will get paid $10,000 for a year of testing out toys and treats.

    (It’s about time Fido and Simba started carrying their weight financially, don’t you think?)

    Specifically, PetSmart is looking for a photogenic, friendly, sociable dog and cat to serve as brand ambassadors on social media.

    During their year on the job, the canine and feline chief toy testers will be expected to participate in product unboxing videos for pet toys and treats — once per quarter, for a total of four videos. They’ll also appear at a variety of PetSmart events as a celebrity VIP (Very Important Pet).

    They’ll also get quarterly salon treatments, or “spaw days,” at their local PetSmart.

    Meanwhile, the pet’s human parents will be expected to capture compelling video footage of all this for social media. They’ll also need to commit to a yearlong contract on behalf of Rover or Fluffy.

    How to Apply

    To apply on behalf of your pet, go to AnythingForPets.com to fill out an application by Feb. 17. You’ll be required to submit a 10- to 30-second video of your dog or cat, showcasing your furry friend’s winning personality.

    “Pet parents are encouraged to think creatively with their submission — whether it’s their cat strutting the catwalk in the latest fashion, pups having a ball with their new toys, or pets showing off their skills when the zoomies hit,” PetSmart says.

    You’re required to have public Instagram and TikTok accounts, and you’re encouraged to have accounts on Facebook, Twitter and YouTube.

    You’ll also upload a photo of your pet, and you’ll write a review of your pet’s favorite toy in 200 words or fewer. Because with this gig, it’s all about the pet toys.

    “We are recruiting two playful and eager team members to bring into our PetSmart pack as the first-ever chief toy testers,” said Will Smith, the company’s chief marketing officer. “These C-suite pets will let pet parents know they are getting the best tried-and-true products for their beloved furry family members.”

    You spend a lot on Sparky and Muffin. Let’s see if they can earn you some money for a change!

    Mike Brassfield ([email protected]) is a senior writer at The Penny Hoarder. 


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  • High Egg Prices Have Us Boiling Over. Here’s What We Can Do About Them

    High Egg Prices Have Us Boiling Over. Here’s What We Can Do About Them

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    Eggs used to be a relatively cheap standby, but not anymore. How expensive are eggs right now? Here are three crazy things that’ll show you how pricy eggs have gotten these days.

    1. First, eggs are so highly in demand that border officials are actually seeing a spike in egg smuggling from Mexico. Egg smuggling! Who’d have thought?
    2. Second, social media is suddenly full of humorous memes about the egg price crisis. You may as well laugh so you won’t cry.
    3. Third, egg companies are being accused of price gouging. Activists are demanding a federal investigation into egg producers’ record-high profits.

    What’s the deal with eggs? Why all the excitement about eggs?

    All this fuss is because egg prices have skyrocketed a mind-blowing 60% in only a year, according to the U.S. Department of Agriculture. Out of all the price increases you’re seeing at your local grocery store, the price of eggs has gone up the most.

    We’ve got a couple of ideas for what you can do about that. We’ve got advice about cheaper baking substitutions if a recipe is asking for eggs. Or, if you’re thinking bigger, we’ve got advice about raising backyard chickens so you can supply your own eggs.

    First, let’s take a look at the problem.

    Bird Flu and 50 Million Dead Chickens

    Last year, a dozen eggs would have probably cost you about $1.50. Today it’d be more than $4 in many parts of the country. In much of California, a dozen eggs cost more than $7.

    Some of this huge price hike is due to inflation and supply chain woes, but by far the biggest reason is a massive avian flu outbreak among American chicken flocks, killing some 50 million chickens in 2022, according to the Centers for Disease Control and Prevention.

    It’s basic math: 50 million fewer chickens means a lot fewer eggs. It’s a matter of supply and demand, leading to higher prices at the supermarket.

    In recent days, U.S. Customs and Border Protection officials have started reporting a spike in people attempting to smuggle eggs into the country illegally from Mexico, where egg prices are lower. (Bringing uncooked eggs from Mexico into the U.S. is illegal due to the risk of bird flu.)

    Customs officials in San Diego tweeted last week about “an increase in the number of eggs intercepted at our ports.” When the illicit eggs are discovered at border crossings, officials confiscate and destroy them.

    Then there are the internet memes: It’s too expensive now to egg your enemy’s house. Easter egg hunts are hereby canceled. Having eggs in your grocery cart is suddenly a sign of wealth.

    Will Egg Prices Go Down?

    Experts expect the price of eggs to fall eventually. Prices won’t fall back to where they were before our inflation woes. But the side effects of a massive avian flu outbreak should wear off over time — exactly when this will happen is up in the air. But there are signs that egg prices are starting to taper off.

    Are Consumers Being Gouged Here?

    A nonprofit farming advocacy group called Farm Action is calling on the Federal Trade Commission to investigate price gouging from America’s largest egg companies.

    The group wants antitrust regulators to examine record profits at the biggest company, Cal-Maine Foods, which controls 20% of the retail egg market. In December, the company reported that its profits were up 600% over the previous year, according to a filing with the Securities and Exchange Commission.

    So what can you do about all this?

    Save Money With These Baking Substitutes

    We have a whole article on cheaper baking substitutes for ingredients such as eggs, butter, sugar, milk and chocolate.

    Substituting eggs is a tricky endeavor for bakers. However, it may be necessary due to these prices.

    Some ingredients provide the same lift to baked goods as eggs, notably baking powder and baking soda. But getting the ratio correct is complicated. Surprisingly, foodies concur that carbonated water is the best egg substitute for baked goods like cakes and muffins.

    Egg Baking Substitutes

    Substitute Ratio Cost per dozen
    Carbonated water (club soda) ¼ cup = 1 egg 69 cents (24 oz.)
    Water, oil and baking powder 2 Tbsp. water + 2 tsp. BP +1 tsp. oil = 1 egg $1.32
    Mashed banana ¼ cup = 1 egg $1.38
    Nut butter 3 tablespoons = 1 egg $1.64

    If you don’t have baking powder, you can use a third of the same amount of baking soda.

    Keep in mind that using bananas creates a different flavor profile as well as a gummier texture. But for some baked goods, the additional moisture in bananas can be a boon for your taste buds.

    The Revenge of the Backyard Chicken

    What else can you do? If you’re thinking bigger, you might consider raising backyard chickens so you can supply your own eggs.

    Here’s our guide to raising backyard chickens — what’s involved and what it costs.

    Be warned that it’s not necessarily easy. Before impulse-buying some baby chicks, you’ll want to think carefully about all the costs associated with chicken keeping.

    Still, it’s one way to ensure yourself a steady supply of eggs.

    Which came first: the chicken or the egg? Here’s your chance to find out.

    Mike Brassfield ([email protected]) is a senior writer at The Penny Hoarder. Kaz Weida, a senior writer at The Penny Hoarder, contributed.


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  • You Could Double Your Tax Refund by Entering This Free Sweepstakes

    You Could Double Your Tax Refund by Entering This Free Sweepstakes

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    Unfortunately, federal income tax refunds are expected to be smaller this year for millions of Americans.

    Wouldn’t it be nice to double your refund?

    That’s the idea behind a new sweepstakes contest from Jackson Hewitt, the second-largest tax preparation company in the U.S. (The biggest is H&R Block.)

    To celebrate its 40th anniversary, the company is holding a weekly “Double Your Refund” sweepstakes from now through April 2 — and you don’t even have to file your taxes with Jackson Hewitt to enter the drawing.

    Over 12 weeks, 40 grand prize winners will get their federal tax refunds matched, to a maximum of $15,000. Even if you’re not getting a big refund, the minimum prize if you win is $1,500.

    Additionally, every week 40 runner-up entrants will be randomly selected to win $400 apiece. How’s that for a nice tax season surprise?

    Ready to tackle your taxes? We’ve reviewed the best tax software, including the free versions.

    To Enter the Sweepstakes, Do Your Taxes

    There are two ways to enter the sweepstakes, and you can enter only once.

    The most straightforward way is to have your income taxes done by Jackson Hewitt, which prepares 2 million tax returns a year at 5,600 locations all over the U.S. You’ll automatically be entered into the contest that way.

    But maybe you’re doing your own taxes instead. Hey, no problem! In fact, here’s our ultimate guide to filing your taxes in 2023.

    There’s another way to enter the sweepstakes, and you don’t have to be a Jackson Hewitt customer. You do have to physically mail something, though — and you have to do your taxes.

    You mail in an entry, and you have to do it by the Monday following the week that you file your federal tax return.

    This is kind of a way to encourage early tax filing. Winners are chosen weekly in random drawings during the 12-week sweepstakes period. So the sooner you enter, the more chances you have to win.

    The contest runs through April 2. The IRS begins accepting tax returns Jan. 23, and this year’s tax deadline is Tuesday, April 18. Here’s our guide to the 2023 federal tax deadlines.

    How to Enter the Sweepstakes by Mail

    Mail your entry with your name, address, email address, phone number and the date your tax return was filed, stated as “Federal Tax Return Filed on XX/XX/23.”

    Your entry must be in a No. 10 business envelope (a standard business envelope) with proper postage addressed to “Jackson Hewitt Double Your Refund Sweepstakes,” P.O. Box 16470, Rochester, NY 14616. Write your filing date on the envelope stated as: “Federal Tax Return Filed on XX/XX/23.”

    All winners will be notified by email, phone or mail. For full rules, terms and conditions of the sweepstakes, go here.

    Mike Brassfield ([email protected]) is a senior writer at The Penny Hoarder.


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  • Your Car Insurance Is Going Up — Again. Here Are 12 Ways to Lower Your Bill

    Your Car Insurance Is Going Up — Again. Here Are 12 Ways to Lower Your Bill

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    Consider this a friendly heads-up: Your car insurance bill is about to go up.

    Well, that’s not fair, you’re thinking. What can I do about it?

    We’ve got a dozen ideas for what you can do about it.

    Rising Car Insurance Prices

    We just saw two separate reports forecasting that 2023 will bring a noticeable jump in car insurance prices:

    • Rates are expected to increase by 8.4% across the U.S. this year — the biggest jump in six years — according to a study from financial data website ValuePenguin. It puts the average cost of full coverage car insurance at $1,780 per year.
    • Meanwhile, the virtual insurance agency Insurify is predicting that rates will rise by 7% in 2023. It puts the average cost of car insurance at $1,777.

    Why? A number of reasons, namely inflation and a nationwide increase in fatal auto accidents.

    12 Simple Ways to Lower Your Car Insurance Bill

    I recently had the “pleasure” of signing up for a new car insurance policy. While I shopped around for a policy that didn’t break my budget — but still offered insurance coverage that thoroughly protected my car, me and other motorists — I researched some tips to help save money.

    And no, I’m not going to suggest anything that requires a drastic life change. Sure, buying a new type of car with high safety ratings, moving to Maine, maintaining a clean driving record or never driving again will all help. But that’s not realistic for most of us.

    Here you’ll find the simplest, most practical ways to lower your auto insurance premiums:

    1. Shop Around for the Best Rates

    Comparing rates sounds like a given, but here’s the thing: Too many people stick with the same auto insurance company and same insurance agent because that’s easy. There’s something to be said for brand loyalty, but it’s also important to shop.

    Why? Car insurance companies use different algorithms to determine costs. Additionally, many offer first-year deals to new customers.

    The easiest way to compare rates is to use an online car insurance search engine. There are a  number of these, like EverQuote, where you can see all your options at once.

    EverQuote is the largest online insurance marketplace in the U.S., so you’ll get options from more than 175 carriers handed right to you.

    Take a couple of minutes to answer some questions about yourself and your driving record. With this information, EverQuote will be able to give you recommendations for car insurance. In just a few minutes, you could save up to $610 a year.

    2. Continue to Shop for a Lower Rate Every 6 Months

    Comparing rates once won’t cut it. They can change month to month — even day to day.

    There are a number of fluctuating personal factors that can affect your insurance rates, including your age, location, marital status and credit score. But consider external factors, too, like natural disasters, crime rates and the economy.

    Pro Tip

    Experts encourage consumers to compare rates at least once a year — ideally every six months. Set a reminder on your calendar.

    3. Increase Your Deductible

    Car insurance deductibles are typically $500 or $1,000 — you choose. This is simply the amount you’ll have to cover out of pocket before your insurance kicks in and covers the rest.

    Now, you’re thinking the lower deductible is best, right? In some cases, yes, because if you need to file an insurance claim, you’d rather fork over $500 than $1,000. But opting for a higher deductible can actually save you money on your insurance premium, which could save you money over time.

    You’ll have to consider what happens if you get into an accident and have to file a claim. Can you cover that $1,000 deductible? Do some math, and make sure the money you’re saving on your premium is worth the higher deductible.

    And drive safely!

    4. Pay Your Policy Online, in Full and Early

    The online insurance company The Zebra looked at how much money you can save by adjusting your payment plan. Here’s what it found:

    • Save 1.5% with auto-pay.
    • Save 4.7% by paying in full.
    • Save 3.1% with a seven-day advanced payment.
    • Save 3.8% with a 10-day advanced payment.

    And if you pay online, in full and early, you could lower your rate by 10%. It might not sound like a ton of money, but if your premium is $1,500, this simple move could result in $150 in savings each year.

    5. Maintain Good Credit

    Did you know your credit score can have a hefty impact on your car insurance premiums? Drivers with poor credit tend to pay more than twice as much as those with exceptional credit, according to The Zebra.

    If your credit score is veering toward the “poor” end of the spectrum, there are some simple steps you can take to increase it. We recommend signing up for Credit Sesame, a free credit monitoring service that breaks down exactly what’s on your credit report in layman’s terms, how it affects your score and how to address it.

    James Cooper, a motivational speaker, raised his credit score 277 points in six months using Credit Sesame. Cooper’s favorite part about Credit Sesame is its personalization. It suggested concrete steps, based on his situation, to better manage his credit score.

    Pro Tip

    Some states have outlawed the use of credit in determining car insurance costs. These include California, Hawaii and Massachusetts.

    Getty Images

    6. Bundle Your Insurance Policies

    You’re probably paying for additional insurance policies, right? Like homeowners insurance or renters insurance? Once you find a company you like and trust, consider bundling your policies to save some money.

    The Zebra found that bundling policies could save you up to 10%.

    7. Take a Defensive Driving Course

    OK, so maybe you recently got a speeding ticket. Or you didn’t see that stop sign and received a moving violation. Whatever the case, taking a defensive driving course can be a great way to wipe the points from your driving record and help offset an increase in insurance costs.

    And guess what? You don’t have to sit through a weekend of classes. There’s this thing called the internet, and you can take online defensive driving courses through AARP, the National Safety Council or your state’s DMV. The cost of the course will vary by state, but you shouldn’t pay more than about $40.

    Even if you’re a safe driver with a good driving record, you can still take the course for an insurance discount — just be sure to check with your insurance agent to make sure the discount applies (and that it’s worth the cost of the course).

    8. Brag About Your Community Involvement

    When signing up for car insurance, ask your agent if you can tap into discounts for organizational involvement. For example, when I signed up for my new insurance policy, the company asked if I was involved in a sorority or fraternity, or an alumni organization.

    You can also get discounts if you’re involved in an educational, business or military organization.

    9. Know Your State’s Minimum Requirements

    Each state requires different liability coverage amounts, so study up on your state’s minimum requirements.

    For example, in Maryland, motorists are required to have insurance that covers at least $30,000 in bodily injury per person, $60,000 in bodily injury per accident and $15,000 in property damage. (This is often referred to as 30/60/15.)

    The minimum coverage is the cheapest, but you’ll likely want more.

    A good rule of thumb? Secure coverage that equals the total value of your assets (think: car, home, investments, savings), suggests the Wall Street Journal. Why? If your insurance doesn’t adequately cover an accident, your assets could be seized to help cover car repairs and medical costs.

    To find out your state’s required minimums, visit your DMV online.

    10. Understand Collision and Comprehensive Coverage

    In addition to the state minimums, you’ll also need to consider adding collision and comprehensive coverage to your auto insurance policy.

    Comprehensive insurance will cover any non-accident related damage. Think: hail, theft, flooding, vandalism, fire, falling objects, animals — anything that doesn’t involve another car. Some states call this “other than collision” coverage.

    Then there’s collision coverage, which pays for damage done to your car. If you own an older car that’s not worth a lot, collision coverage might not be worth the increase in your insurance bill.

    Both of these add-ons are optional, but they could benefit you, so consider your circumstances carefully.

    11. Ask About Additional Discounts

    We’ve covered a couple of discounts, but it never hurts to ask your auto insurer about any additional discounts you might qualify for. Some of the most common ones include:

    • Senior
    • Good student
    • Low-income
    • Multi-car (include more than one car on your policy)
    • Safe driver
    • New car
    • Anti-lock brakes
    • Airbag (usually for older cars made before 1990)
    • Anti-theft devices
    • Paperless (view your bill online)

    Honestly, there are too many to list, so it never hurts to inquire. Chances are, your agent will be able to dig up something to help you out.

    12. Use Your Negotiation Skills

    When in doubt, hop on the phone. Yup, for this final tip we’re getting back to the basics. It’s time to negotiate!

    You can negotiate just about any of your monthly bills, including your car insurance. Contact your agent or a company representative and let them know you need to find additional ways to save money… or else.

    (Just kidding. Don’t say that last part.)

    Mike Brassfield ([email protected]) is a senior writer at The Penny Hoarder. Carson Kohler is a former staff writer at The Penny Hoarder.


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  • What to Expect in the Housing Market in 2023

    What to Expect in the Housing Market in 2023

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    There have always been long-standing rules about real estate ownership, including the three most important ones: location, location, location.

    But the one constant about real estate investing is that nothing ever stays the same. Even the location rule, because preferred locations change from year to year, and certainly from generation to generation.

    After the 2020 pandemic and the resulting red hot seller’s market through early 2022, the situation has cooled drastically in the second half of the year. Home prices have leveled – and houses that would’ve been sold in days now sit on the market for weeks and months. That, along with rising mortgage rates approaching 7%, has turned that once red hot seller’s market into a more balanced market for would-be buyers.

    7 Housing Market Trends in 2023

    As we approach 2023, it’s time to consider what the experts expect from the housing market in the new year.

    1. Buyers Will Begin the Year With a Wait-And-See Mindset

    Market confidence in Q4 2022 was at its lowest point since March 2020, according to Freddie Mac’s Housing Market Outlook – a quarterly survey evaluating the public’s sentiment on housing-related issues.

    Of those surveyed, 34% said they’re confident the market will remain strong over the next year – down 12% from Q3 2022. In the next six months, only 21% said they are likely to buy, 14% said they are likely to sell, and 17% said they are likely to refinance.

    With interest rates still between 6% and 7% with no certainty they will drop significantly lower soon, many buyers may wait out making such a major financial decision at least until later in 2023.

    2. Sellers May Get More Flexible on Price

    Sellers had a lot of control over the sale of their home at the beginning of 2022.

    In some parts of the country, bidding wars would push prices up six figures. Some buyers were so desperate they were willing to buy homes without an inspection or even sight unseen. In popular areas, houses would go on and off the market in less than 24 hours.

    Those days are no more.

    Existing home sales drop for the tenth straight month in November 2022, according to the National Association of Realtors. Sales were down 7.7% compared to October and 35.4% down from November 2021.

    If you’re a buyer, the weaker market should offer some leverage when you’re negotiating the price of a house.

    3. Sellers Will Need to Make More Concessions

    Concessions — like money for repairs or mortgage rate buydowns — by sellers have slowly increased over the last year. In the fourth quarter of 2022, 42% of sellers gave concessions according to Redfin. That’s the highest rate since July 2020.

    “I recently helped one of my buyers negotiate a $10,000 credit for a new roof and a handful of other repairs,” said Van Welborn, a Redfin real estate agent in Phoenix. “We originally asked for $15,000, but were happy with $10,000 because the homeowner also agreed to sell for less than their asking price.”

    Large west coast metropolitan areas are seeing the highest increase in seller concessions, with San Diego at 73%, Phoenix at 62%, Las Vegas and Portland at 61%, and Denver at 58%. Buyers in northeast metro areas should expect the fewest concessions, with New York at 13%, Boston at 17% and Philadelphia at 22%.

    4. Remote Work Will Continue to Create Housing Uncertainties

    Even with more workers returning to office environments in 2022, occupancy rates remain less than half of what they were in 2019.

    As of late December 2022, the rates were at 48.5% of pre-pandemic levels, according to Kastle, a security company that offers weekly updates on office occupancy rates in 10 of the largest U.S. metropolitan areas.

    The great Return to the Office that was predicted back in 2021 has not happened. Remote work is still thriving, with many companies offering full-time remote jobs or at least hybrid options.

    Meanwhile, there has been a migration of workers from one major urban area to another, or to the suburbs, or to warmer climates. Some people may be changing homes in the same town or area.

    But many are dangling as they await that possible “go back to the office” order some time in the future.

    So, renters are still trying to decide whether they need to buy. And prospective buyers shopping for a house post-pandemic are asking themselves whether they need a place with two office spaces rather than one office and one kitchen table – and if they need to buy anywhere near their company’s office in the first place.

    5. Homeowners May Choose to Improvement Projects Over Selling

    Interest rates on a 30-year fixed-rate mortgage hovered around 3% to 4% between 2015 and early 2022, dipping to as low as 2.6% in December 2020.

    Homeowners that locked into rates during those times might be wary of having to lock into a much higher interest rate of more than 6%, raising their monthly payment by hundreds of dollars.

    For a $350,000 mortgage — around the average price of a home currently in the U.S. — a homeowner would pay $650 more a month with a 6.8% interest rate over a 3.8% interest rate.

    That’s a huge difference. Add in a dose of uncertainty about a recession, and it makes a lot of sense why homeowners might want to take out a much smaller loan for a home improvement instead of locking into another mortgage at a much higher interest rate.

    6. Interest Rate Relief May Only Be Slight – If at All

    Speaking of interest rates, don’t expect too much relief in 2023.

    While it’s impossible to predict with certainty, rates will remain over 6% throughout the year, according to Fannie Mae projections.

    Again, higher interest rates mean higher monthly payments. So if adding hundreds of dollars to your housing budget doesn’t work for your bank account, you might want to wait things out in 2023.

    Use this year to get all your finances in order and reassess whether a mortgage will make better financial sense in 2024. Deciding if it’s a good time to buy a house is a very personal decision, but outside factors, like interest rates, should definitely be a part of the equation.

    7. Natural Disasters May Impact Home Costs in Some Areas

    Whether wildfire concerns in the west, hurricane damage in the south or flooding in many other parts of the country, insurance companies are responding to the increasing occurrence of natural disasters by increasing premiums for homeowner’s insurance or flood insurance.

    And even if you can afford the premiums, the process of making claims for flood or wildfire insurance can be long, painful and not always successful.

    While home prices have skyrocketed on average throughout the country, in places prone to hurricanes and wildfires, the average home prices have dropped in response to concerns over the long-term safety of the home.

    In some areas, homeowner’s insurance might not cover water damage or might be unavailable to protect against other dangers.

    Which is just another reason 2023 could be a treacherous stretch for the housing market.

    Robert Bruce is a senior staff writer at The Penny Hoarder covering earning, saving and managing money. He has written about personal finance for more than a decade.


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

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

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

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

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

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

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

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

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

    If You’re Selected by Shane Co.

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

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

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

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

    Happy swiping!

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


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  • As More Car Payments Soar to $1,000/Month, Here’s How to Lower Yours

    As More Car Payments Soar to $1,000/Month, Here’s How to Lower Yours

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    You know inflation is bad when your monthly car payment hits a thousand bucks.

    For an increasing number of drivers, that’s the reality. A record number of Americans are paying at least $1,000 a month for their vehicles, according to new findings from the auto inventory site Edmunds.

    Nearly 16% of car buyers who financed a new vehicle in the fourth quarter of 2022 have monthly payments reaching four figures. That share of car buyers more than doubled in two years.

    Even used car buyers aren’t totally safe. More than 5% of buyers who financed a used vehicle in late 2022 are paying at least $1,000 a month, according to Edmunds. That number more than tripled in two years.

    Analysts fear that some of these high-dollar borrowers are getting in over their heads. They say people who buy cars today are at risk of going underwater on their car loans down the road as used car values decline.

    So we’re here to discuss two things:

    1. How to lower your car payment, and
    2. How to trade in a car that has negative equity.

    We’ve got four tips for each.

    4 Ways to Lower Your Car Payment

    It looks like this is the future for more and more of us, since cars and car loans are more expensive than ever. The average sticker price of a new automobile has shot up to nearly $46,000.

    Interest rates on car loans have risen to an average of 6.5% on new vehicles and 10% on used vehicles, compared with 4% and 7.4% two years ago, according to Edmunds.

    Here are some ways to get a lower car payment:

    1. Save Up for a Larger Down Payment

    Just like with a mortgage, the more money you put down at the beginning, the lower your payments will be over the life of your auto loan.

    For example, if you put a $5,000 down payment on a $25,000 car with 7% sales tax and a 4.5% APR, with a five-year loan, you would end up with a monthly car payment of a little over $400.

    With no down payment and those same terms, you’d have a monthly payment of nearly $500.

    2. Get Preapproved for a Loan

    Get a loan preapproval. Shopping around for a preapproved auto loan for your new loan potentially helps you snag a lower interest rate than the one a dealership would offer.

    By talking to lenders before you start shopping, you’ll not only know how much car you can afford, but you’ll have negotiating power for the loan’s interest rate as well as the length of the loan.

    3. Buy a Used Car

    They’re more affordable. Here’s our ultimate beginner’s guide for how to buy a used car.

    If you’ve ever heard someone refer to a car as a depreciating asset, it’s true. The longer you have a car, the less it’s worth. The first year of owning a new vehicle is when depreciation really packs a punch.

    When you buy a used car, the original owner has already taken that initial hit on depreciation and the price you pay accounts for that.

    Just because you’re buying a used car doesn’t mean you’ll be stuck with a clunker that was manufactured decades ago. Cars that are just a few years old often hit dealership lots when their previous owners reach the end of their lease.

    It is possible to get a car loan with bad credit. Here’s how.

    4. Refinance Your Loan

    In our article “7 Ways to Lower Your Car Payment & Help Your Budget,” we suggest that you consider refinancing your existing auto loan.

    Refinancing can make sense if you’re looking to lower your car payment over a longer term.

    While you’re at it, you might be able to get a lower interest rate as well. Interest rates have likely risen since you bought your car, though. On the flip side, your credit score might have gone up, too.

    Checking on your refinancing options may be worthwhile. Keep in mind, though, that a longer term means more interest paid over the life of the auto loan.

    That leads us to our next subject…

    4 Tips for Trading in a Car With Negative Equity

    Edmunds analysts worry that in the near future, more people are going to be trading in cars that they still owe money on.

    What if you get stuck with an underwater car loan on a vehicle you need to unload? Let’s start with the best idea and work our way down.

    1. Calculate Your Car’s Equity

    Before we get ahead of ourselves, are you sure your vehicle is worth less than what you owe? Here’s how to calculate the equity in your vehicle:

    Value of your vehicle – loan payoff amount = equity

    You can find out how much your vehicle is worth by checking Edmunds, Kelley Blue Book and the National Automobile Dealers Association’s Guide.

    When figuring out how much you owe on the loan, use the loan payoff amount and not the principal, as the payoff amount may include things like fees and taxes you still owe on.

    2. Hang Onto Your Car

    This is really the best option, financially speaking. Yes, it isn’t always an option — especially if your current car needs expensive repairs — but you should at least weigh the cost of repairs vs. the long-term financial benefits of holding onto your old wheels.

    3. Sell the Car Yourself

    Here’s the hardest way to get yourself out of your underwater car loan, but it could also be among the most lucrative: Sell the car yourself. The payoff for the extra effort could be worth your time as opposed to trading your car in at the dealership.

    4. Roll Over the Amount You Owe Into a New Auto Loan

    This is the worst option, but sometimes you’ve got to do what you’ve got to do. You’ll end up with a bigger loan and a higher interest rate.

    If this is your only option, you might consider downsizing to a cheaper car if possible. That way, you could be looking at a smaller payment even after adding the underwater debt amount into the new loan. Be warned that car prices have been going up, though.

    None of these options will necessarily prevent you from starting out underwater on your next car loan, but they can help reduce the time you’ll spend climbing out of the hole.

    Remember, unless you’re wealthy, a $1,000-a-month car payment is something to avoid if possible.

    Mike Brassfield ([email protected]) is a senior writer at The Penny Hoarder.


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