Tag: Money

Mint Money Audit: Making the Most of a Side Hustle
This weekâs Mint audit introduces us to Selena, 48, a mom of two living in San Antonio, Texas. She is a community college director and her husband, 51, is a full-time graphic designer who also manages a booming side hustle…
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The post Mint Money Audit: Making the Most of a Side Hustle appeared first on MintLife Blog.
Tagged 5-year CD, All, building, college savings plan, Compound Interest
How Much Is Enough For Retirement?
If you’re thinking about how much is enough for retirement, you’re probably contemplating a retirement and need to know how to pay for it. If you are, that’s good because one of the challenges we face is how we’re going to fund our retirement. Determining then how much retirement savings is enough depends on a …
Continue reading “How Much Is Enough For Retirement?”
The post How Much Is Enough For Retirement? appeared first on GrowthRapidly.
Tagged 401(k), All, Buying, Buying a house, Debt
Home Improvement Archives – Money Crashers
Source: moneycrashers.com
Tagged Financial Wize, FinancialWize, Home, Home Improvement, Money
How to Choose the Best Healthcare Plan for Your Budget
Healthcare expenses can take a huge chunk out of any familyâs budget so I want to break down how a family can weigh the pros and cons of a traditional health plan vs a high deductible one. Health Insurance Getting…
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The post How to Choose the Best Healthcare Plan for Your Budget appeared first on MintLife Blog.
Tagged budget, cons, Family, Family Finances, Financial GoalsHealthcare expenses can take a huge chunk out of any familyâs budget so I want to break down how a family can weigh the pros and cons of a traditional health plan vs a high deductible one.
Health Insurance Getting Too Expensive
If I asked you whatâs are your biggest expenses each month, what would you say? If youâre like most families, youâd probably mention rent (or mortgage), food, or transportation. And yes, those are huge expenses for the typical family.
However, one of the largest can be healthcare. The crazy thing is how much it can drain from your budget even if youâre a relatively healthy family.
We found out firsthand a few years ago when my husbandâs employer had open enrollment. Each year we review the health insurance options and it seemed to us that the costs kept rising. After having kids, we went with the âbasicâ family plan and the monthly premiums still rose pretty fast. Finally, we hit our limit.
With the latest update, our monthly premiums would pretty much be the same as our mortgage. Considering we only visit the doctors for the girlsâ annual well visits, we knew we needed to change things up. We know weâre not the only family dealing with this.
Right now for a family of four, the average monthly premium paid is $833 or $9,996 annually. Add in the costs of the average deductible and you can see what a huge chunk of money health insurance can be.
However, this year when you get ready to review your options during open-enrollment, you may want to look into whether a high deductible health plan is a practical and affordable solution for your family.
How High Deductible Health Plans Work
As the name suggests, a High Deductible Health Plan (HDHP) comes with a larger deductible than a typical health insurance plan. The appeal for employers and insurance companies to offer this is that youâre taking on more financial responsibility for your health care costs.
The upside for you is that you should see a drop in the monthly premiums. For us, we saw a difference of a few hundred dollars for each month for premiums. Using a $300/month in savings, thatâs like an extra $3,600/year that can be used for other financial goals that you may have.
Huge Tax Wins with a Health Savings Accounts
Another reason why a high deductible plan may be appealing for families is the ability to have a Health Savings Account (HSA). Itâs an extremely tax-advantaged account that you can use to pay for medical expenses.
If this sounds familiar, it may be because youâve heard of or used a Flexible Spending Account (FSA). Thatâs whatâs typically offered with the âmore standardâ health plans. Basically you put money in there before taxes.
We used an FSA for years and it helped us to pay for regular expenses like my glasses and contacts. The problem was making sure we calculated enough to go into the account because if we didnât use it by the end of the year, weâd lose it.
With a Health Savings Account, however, whatever you donât use you keep. It can then grow in the account over the years. After saving enough to cover things like the deductible, you may decide to invest a portion to improve growth over the long term.
Making it even better is the fact that your HSA contributions are tax-deductible. Depending on your employer, they may also offer contributions to your HSA. Thatâs a fantastic bonus!
What really sweetens the deal is that families can contribute up to $6,900 each year, that money grows tax-free, and if we use the money for qualified medical expenses, what we pull out is tax-free.
Sounds amazing, right?
Itâs enough to make you want to jump in and switch right now, but a high deductible and HSA may not be the best solution for your family.
The Pros and Cons of High Deductible Health Plans
A high deductible plan sounds great, but there are some costs to consider. With the higher deductible, you need to be aware of what your typical annual expenses would be to make sure youâre coming out ahead.
For example, if you have chronic health issues that require regular visits and perhaps medication, then youâd be paying a lot of money upfront before you hit your deductible and have your insurance cover their portion.
One way you can review your expenses is by using Mint to pull the numbers quickly. You can then easily see how much youâve paid out of pocket.
When we looked at a few years of expenses, it confirmed that our visits were pretty much limited to annual well-visits (which are covered by HDHP plans), meaning we can save a significant amount of money.
When I spoke to a certified financial planner about what families need to consider, he pointed out families should also be aware of their out of pocket maximums with the plan they are looking into.
You want to have enough stashed away (either with your general savings or with your HSA) to cover those expenses.
A relative of mine recently had a procedure done. Even with insurance, her portion came out to be $3,000!
Thankfully she has some savings she can tap into, but still, thatâs quite a bit of money.
So please run the numbers to make sure you could absorb a medical problem, especially during that first year of switching plans.
Choose the Best Plan for Your Family
So after weighing the costs and benefits, took the leap and switched over to a high deductible health plan and opened an HSA. Years later, we feel it was the best decision for our situation.
I hope you now have a better understanding of your options when it comes to health insurance. Having that knowledge can assist you in making the best decision for your family and finances.
Iâd love to hear from you – what plan are using now? Do you have any plans on switching?
The post How to Choose the Best Healthcare Plan for Your Budget appeared first on MintLife Blog.
Source: mint.intuit.com

20 Of The Best Entry Level Work From Home Jobs
Looking for entry level work from home jobs? Are you wondering, “How can I work from home with no experience?” I know it may seem like every job out there today requires several years of experience. This makes it very difficult to find a job, especially if you are brand new to the field and […]
The post 20 Of The Best Entry Level Work From Home Jobs appeared first on Making Sense Of Cents.
Tagged All, Blog, Buy, Career, CreditLooking for entry level work from home jobs?
Are you wondering, “How can I work from home with no experience?”
I know it may seem like every job out there today requires several years of experience. This makes it very difficult to find a job, especially if you are brand new to the field and trying to get your start.
It can be difficult to find a way to make money from home when you are brand new, but it’s not impossible to find entry level work from home jobs.
Everyone has to start somewhere, and if you want to start working from home, then I have a great list of no experience work from home jobs for you to look into.
Now, just because these jobs, businesses, and ways to make extra money don’t require experience, it does not mean that they will be easy! Remember, good things don’t come easy.
You may have to learn a new skill, take a course, and so on.
Also, please remember that entry level means you are starting from the bottom and working up. That means it may take a while to establish yourself. Still, there is room to grow in many of these jobs.
What you’ll find in this list of entry level work from home jobs are new careers and businesses you can start without having a college degree or years of experience.
There are many ideas on this list that involve starting a freelance career by using existing skills, like if you have a good eye for spotting grammar and punctuation errors, then you may be interested in proofreading.
There are other ideas on this list that will require you to learn some new skills – all ones you can easily pick up online.
The most important part is that all of these jobs are 100% work from home ideas. Yes, these are all jobs you can work from the comfort of your own home, while you travel, etc.
Finding a work from home job can be a great way to make money.
After all, it’s what I do, and I love it!
And, there are so many different options depending on what you are looking for. You may be able to find entry level work from home jobs that are part time, full time, that work while you are traveling, and so on.
Plus, many of the entry level jobs from home on my list allow you to have a more flexible schedule, where you may be able to choose the days you work, your hours, and more.
So, if you are looking to start making extra money or if you want a new career path that lets you earn money from home, this list is especially for you.
Before you’re scared off by any of these ideas, please remember that you don’t need to be an expert in any of them right now. As with any new job, you learn as you go and can find training as well.
Related content on entry level work from home jobs:
- 12 Passive Income Ideas That Will Let You Enjoy Life More
- 15 Of My Best Working From Home Tips So You Can Succeed
- 15 Outdoor Jobs For People Who Love Being Outside
- 15 Home Business Ideas & The Free Courses You Need To Get Started
Below are 20 entry level work from home jobs.
1. Create a blog to earn an income.
If you’re looking to work from home, I recommend that you think about starting a blog.
You don’t need previous experience, and most bloggers are brand new to blogging anyways!
I was brand new when I started my blog many years ago, and I learned everything I know along the way.
I read lots of online articles written by other bloggers who were once in the same spot I was, and I have also taken several great courses to help me improve my blog over the years.
I created Making Sense of Cents in 2011, and since then, I have earned over $5,000,000 from my blog.
Blogging allows me to travel full-time, have a flexible schedule, and I earn a great income doing it.
My blog was created on a whim as a way to track my own personal finance progress. When I first started my blog, I honestly had no clue what I was doing. I didn’t even know that people could make money blogging!
One of the reasons that blogging is one of the best entry level work from home jobs is because blogging is quite affordable to start.
You can easily learn how to start a blog with my free How To Start a Blog Course.
Here’s a quick outline of what you will learn:
- Day 1: Reasons you should start a blog
- Day 2: How to determine what to blog about
- Day 3: How to create your blog (in this lesson, you will learn how to start a blog on WordPress – my tutorial makes it very easy to start a blog)
- Day 4: How to make money blogging
- Day 5: My tips for making passive income from blogging
- Day 6: How to grow your traffic and followers
- Day 7: Miscellaneous blogging tips that will help you be successful
2. Sell items through Amazon.
Yes, you read that correctly. You can sell items on Amazon while working from home.
Even if you have no experience, you can earn money selling all kinds of items on Amazon, from books, work out equipment, electronics, and more.
Amazon has many people who sell items and earn money from home. Most have no experience selling things online or have ever worked at Amazon.
Jessica Larrew, of The Selling Family, is a friend of mine, and she and her family started selling things on Amazon FBA a few years ago without any experience – they made over $100,000 profit in their first year! And, they were working less than 20 hours a week total.
Jessica now has a FREE 7 day course that will teach you everything you need to know in order to start selling on Amazon. I recommend signing up for it now!
I interviewed Jessica in How To Work From Home Selling On Amazon FBA, and we talk about:
- How Jessica started selling on Amazon FBA
- What exactly Amazon FBA is
- How to choose what to buy and sell
- How much a person can expect to earn
- The positives of selling on Amazon, and more
3. Teach English online.
This one will probably surprise you, but there are entry level work from home jobs where you teach English to kids in other countries. You don’t need to have been a teacher or speak a language other than English.
The requirements are that you have experience working with kids. That can include mentoring, tutoring, coaching, babysitting, or being a parent.
That’s a pretty easy requirement, though!
You can typically earn around $14 to $22 per hour by teaching English online.
Learning how to teach English online has become extremely popular, making it one of the best online jobs from home for many good reasons – it’s flexible, there’s a high need for teachers, and it pays pretty well.
My top three picks are ones my readers have recommended and ones I have researched:
- VIPKID
- Qkids
- Education First
Learn more at Make Extra Money By Learning How To Teach English Online.
4. Tutor from home.
To go along with the above, you can also work from home as an online tutor.
Course Hero is a website that has entry level work from home jobs where you help high school and college students with course-specific questions.
Course Hero was founded in 2007 and is an online learning website where students can find tutors and search by their specific school to find study guides, videos, practice problems, class notes, and step-by-step explanations.
Using the website, students connect with Course Hero tutors on a wide range of subjects and classes, which makes this a great option for people with different educational backgrounds and experience.
What might surprise you to learn is that you don’t need to have experience as a tutor, professor, or teacher in order to become a Course Hero tutor.
However, you will need to share information that proves you have expertise in the subjects you would like to help students with, such as degrees or previous work history.
Tutors earn an average of $3 for each question they answer on Course Hero. Earning between $12-$20 per hour, Course Hero tutors earn an average of $300 a week.
Here’s how this online tutoring job work:
- You apply here to become a Course Hero tutor
- When you are available to answer questions, you do so on the Course Hero website
- You get paid
Learn more at How To Make $300+ Weekly As An Online Tutor With Course Hero.
5. Become a virtual assistant.
Several years ago, I was a virtual assistant.
I had no previous experience, and I simply learned skills as I worked.
Virtual assisting is a field that is growing a lot, and there are lots of entry level work from home jobs as a virtual assistant.
Virtual assistant (VA) tasks may include social media management, formatting and editing content, scheduling appointments or travel, email management, and more. Basically, you can get paid to do any task that needs to be done in someone’s business, but doesn’t need to be done by them.
My friend Kayla is a full-time blogger, virtual assistant, and project manager who earns over $10,000 per month while working from home. She is also the founder of $10K VA, a course where she teaches exactly how you can make a consistent $10,000 per month as a virtual assistant!
Kayla used to work a full-time job as a credit analyst, earning about $2,000 per month. She was struggling to make ends meet while paying off debt, so she started a side hustle as a virtual assistant.
I interviewed her at How Kayla Earns $10K/Month From Home as a Virtual Assistant, and we talk about:
- The amount of money a beginner virtual assistant can expect to earn
- How to find your first virtual assistant job
- The steps to become a virtual assistant without previous experience
- Her best tips for being a virtual assistant
And more!
6. Evaluate Google’s search engine results.
A Search Engine Evaluator (also known as a Google Rater) is where you rate websites based on their quality and usefulness.
You are rating websites to help Google improve their search engine results.
This is one of the entry level work from home jobs that almost anyone can do – you don’t need to be a technical person in order to make money as a search engine evaluator.
Another great positive is that you can work in the language of your country, as Google operates in nearly every country around the world.
Learn more at How To Become a Search Engine Evaluator.
7. Manage Facebook advertising for small businesses.
Did you know that you can make a living from Facebook? With Facebook advertising, you can help businesses expand their reach.
And, yes, this is a skill that you can learn!
Last year, business owners spent over $88,000,000 per day on Facebook ads. This is expected to continue to grow, and it is one of the largest advertising spaces that exists.
My blogging friend Bobby Hoyt knows a lot about this topic. Bobby is a former high school teacher who paid off $40,000 of student loan debt in a year and a half. He learned how to run Facebook ads on his own to earn extra money. Bobby now runs the personal finance blog Millennial Money Man full-time, as well as a digital marketing agency for local businesses that he started in 2015.
I interviewed Bobby about entry level work from home jobs running Facebook ads, and in our interview, you will learn:
- How he started earning income through running Facebook ads
- Why small businesses want Facebook ads
- How a person can find their first Facebook ads client
- How much you can make doing this type of work – the average is around $1,000 extra a month per client
Also, Bobby has a free webinar on this topic too. His webinar (you can sign up here) will teach you how to start this business even if you’re brand new, how to find paying clients, and more.
8. Get paid to share your opinion.
This isn’t exactly a job, but it is a way to make extra money.
And, you don’t need any previous experience.
Yes, you can get paid to share your opinion!
Companies use surveys all the time to learn what their current and potential customers think of their products, services, and company. With the surveys you take, companies get valuable opinions on how to improve their products, and that’s what they are paying you for.
Below are the survey companies I recommend:
- American Consumer Opinion
- Survey Junkie
- Swagbucks
- InboxDollars
- Opinion Outpost
- OneOpinion
- Pinecone Research
- Prize Rebel
- Product Report Card
- Survey Club
9. Create an online store of your own.
This is one of the entry level work from home jobs that many people are surprised to hear about. But yes, you can start your own online store, and you don’t need to have tons of experience or a lot of money to do so. Many people start with absolutely no background.
I had the opportunity to interview Jenn Leach of E-commerce and Prosper, who explains exactly how to start an online store.
Jenn is a corporate mom turned e-commerce store owner and blogger.
She started her online business a little over three years ago, and since then, she has developed and grown three successful online e-commerce stores earning an average of $19,000 per month.
She is super successful despite only spending around 5-10 hours per week on her e-commerce business.
You can read our interview at How Jenn Makes Over $10,000 A Month With Her Online Store In Less Than 10 Hours Per Week.
10. Start a bookkeeping business.
I’m sure you’re surprised to hear that bookkeeping is an area with entry level work from home jobs, but it definitely is.
A bookkeeper is someone who tracks the finances of a business, handles billing and payments, making spreadsheets, etc., but that doesn’t mean you need to be an accountant or have any related experience.
Ben, from Bookkeeper Launch, helps people get started as bookkeepers even when they don’t have any experience. Ben is a CPA who founded his business after realizing that many businesses needed better bookkeepers.
In our interview, we talk about:
- What a bookkeeper is
- The typical clients a bookkeeper has
- How much new bookkeepers earn
- How to become a bookkeeper
- The positives and negatives of bookkeeping
You can read all of his answers and more in our interview Make Money At Home By Becoming A Bookkeeper.
Also, you can sign up here for a free series that will teach you more about running your own virtual bookkeeping business.
11. Find stuff to resell.
This is one another one of the entry level work from home jobs that anyone can start. That’s because we all have lots of stuff in our house that we can probably sell online.
Have you ever found something that you thought you may be able to resell and actually make some money?
Melissa’s family earned $133,000 in one year through buy and sell flipping, and they were working only 10-20 hours per week.
Yes, just 10-20 hours a week!
Some of the best flipped items that they’ve sold include:
- An item that they bought for $10 and flipped for $200 just 6 minutes later
- A security tower they bought for $6,200 and flipped for $25,000 just one month later
- A prosthetic leg that they bought for $30 at a flea market and sold for $1,000 on eBay the next day
You can learn more at How Melissa Made $40,000 In One Year Flipping Items.
12. Write online as a freelancer.
I know so many people who have found entry level freelance writing jobs. You don’t need a background in writing or a degree in English or creative writing.
A freelance writer is someone who writes for a number of different clients, such as websites, blogs, magazines, advertising companies, books, and more. They don’t work for one specific company, rather they work for themselves and contract out their writing.
My friend Holly from EarnMoreWriting.com (as well as the popular personal finance blog Club Thrifty) is a very successful freelance writer and has earned over $200,000 writing online!
Her freelance writing course includes nine video modules, several printable worksheets, and awesome add-ons, too. Here are some of the things you can expect to learn if you take her freelance writing course:
- Discover the #1 most important thing you can do to get paid writing jobs
- Learn how to find entry level work from home jobs as a writer and move up over time
- Learn how price affects the amount of work you get
- Learn which types of jobs help Holly earn the most pay, and where you can find them
- Find out which online platforms work best for finding paid work, and how to use them
- Learn how to structure your work day to earn six figures or more
Learn more at How I Earn $200,000+ Writing Online Content.
13. Transcribe audio or video into text.
Transcription is the art of turning any audio or video content into a text document.
There are many businesses looking for transcriptionists too – since general transcriptionists convert audio and video to text for virtually any industry, there really isn’t a typical client. Some examples include marketers, authors, filmmakers, academics, speakers, and conferences of all types.
Beginning transcriptionists earn around $15 an hour to start.
There are many transcriptionist jobs that don’t require experience, and most transcriptionists learn more and improve their skills as they work.
You can learn more about becoming a transcriptionist in the interview Make Money At Home By Becoming A Transcriptionist. The interview explains:
- What a transcriptionist is
- How you can get started as a transcriptionist
- What kind of money you can expect to make
- The type of training you need, and more
14. Find proofreading jobs online.
Finding entry level proofreading jobs online is very possible.
All you need to work as a proofreader is a laptop or tablet, an internet connection, and a good eye for pointing out mistakes.
Proofreaders look for punctuation mistakes, misspelled words, lack of consistency, and formatting errors.
In 2014, Caitlin made slightly over $43,000 by being a freelance proofreader.
You’ll learn more about this in my interview with Caitlin that I link to below, but proofreaders take content that other people have written and then go over it with a fine-tooth comb. You might be proofreading blog posts, print articles, academic articles, website copy, ad copy, books, student papers, emails, and more.
This job is for a very specific type of person who LOVES to correct grammar or makes a note of spelling mistakes on a restaurant menu… it takes a certain “eagle eye” ability to be good at proofreading!
I interviewed Caitlin on what it takes to become a proofreader, and in our interview we go over questions such as:
- What a proofreader does
- How much proofreaders earn
- How quickly a person can start making money as a proofreader
- The steps needed to become a proofreader
You can find out about entry level work from home jobs and more at How To Become A Proofreader And Work From Anywhere.
Caitlin has put together a FREE 76-minute workshop, where she answers all of the most common questions about becoming a proofreader, and she even shows you how to use the most popular tools used by proofreaders around the world. You can sign up for free here.
15. Learn how to become a scopist.
Scoping is when you are editing legal documents for court reporters. This is different from proofreading for court reporters.
I interviewed an expert on the topic – Linda from Internet Scoping School. She has been scoping for over 35 years and has taught scoping online for around 20 years.
She also has a free course that will introduce you to scoping so that you can decide if it’s one of the entry level work from home jobs you want to pursue. You can find the free course by clicking here.
Scopists who are working with an average court reporter tend to make around $30,000 to $45,000 per year working pretty much full-time.
You can learn more at How To Become A Scopist.
16. Assist with podcasts.
Currently, there’s a huge demand for podcast virtual assistants.
There are over 800,000 podcasts out there, and that number just continues to grow. Podcasts are still a pretty new area, and that opens the door for lots of new entry level work from home jobs helping with all of these new podcasts.
While the podcast host can record themselves, other tasks like editing and publication take time, so many podcasters outsource their work to freelancers or virtual assistants. Also, some podcasters may not know how to do those things, or they may choose to focus their time on other areas.
Some of the different services you could do as a podcast virtual assistant include:
- Audio editing
- Marketing and promotion
- Publication
- Distribution
- Show note creation
Learn more at How I Make $1,500 A Month As A Podcast Virtual Assistant.
Also, you can sign up here for free information on learning more about how to become a podcast VA. In this free resource, you’ll learn more about what exactly a podcast virtual assistant is, the services you can offer, and starting rates.
17. Work as a freelancer.
Freelancers are people who work for others by doing part-time jobs. A business may hire you on for one-time gigs or you may get a long-term job with a company as a freelancer.
In addition to some of the freelance jobs I’ve already mentioned (writing, proofreading, transcribing, and bookkeeping) there are even more entry level work from home jobs out there for people who are able to leverage existing skills, like:
- Graphic design
- Web design and development
- Video editing
- Sound design
- Search engine optimization (SEO)
- Programming
- Photography
This is one of the best work from home jobs because you can use a skill you already have and start finding work on job platforms like UpWork and Fiverr.
18. Find a work from home job in customer service.
Many large companies outsource their customer service departments to people who are working from home.
Customer service representatives may be responsible for a number of things, such as:
- Working at an online call center
- Working as a chat agent
- Offering technical support
- Virtual assistant tasks
- Working as a travel agent
This is becoming one of the best entry level work from home jobs because the number of large companies who need online customer service reps is growing. Companies like Apple, American Express, UHAUL, and more offer basic training for new hires.
19. Secret shop.
Funny enough, many people think that you have to “know someone” or have previous experience in order to become a mystery shopper.
But, that’s not the truth at all.
You don’t need any previous experience in order to become a secret shopper.
This won’t be a full-time job, but it can give you some extra money each month. And, yes, there are some mystery shops that can be done by phone and online.
I remember when I first heard of being a secret shopper. I was working at a retail store and we regularly had mystery shoppers come in to grade how we were doing. We never knew who the mystery shopper was, but we would get to read their report afterwards.
I thought it was so interesting that people were getting paid to shop!
Not long after hearing about it, I decided to try mystery shopping to make extra money to help pay off my student loan debt.
I regularly earned around $150 to $200 a month mystery shopping, and I earned free items/services as well, such as $100 to spend at restaurants (which I had to grade while I was there), makeup, and more.
If this sounds interesting to you, you can join Bestmark by clicking here. This is my favorite mystery shopping company, and the only one I used back when I was mystery shopping, so I know it’s legitimate.
Learn more at Want To Make An Extra $100 A Month? Learn How To Become A Mystery Shopper.
20. Become a voice over actor.
A voice over actor is the person you hear but rarely see on YouTube videos, radio ads, explainer videos, corporate narration, documentaries, e-learning courses, audiobooks, TV commercials, video games, movies, and cartoons.
This job doesn’t require previous experience or special skills – you just need to have the right kind of voice that companies are looking for.
In 2014, Carrie replaced her salaried day job to become a full-time voice over actor. People are constantly asking her how she got her start and how they can too.
So, she created a six-week online class, and it sold out. Several of her students booked voice acting jobs before the class was even over!
I was excited to learn more about this work from home job, so I interviewed Carrie to learn:
- How she got into this interesting career field
- Who the common clients are
- How much money a beginner voice over actor can expect to make
- The positives of this job
- How to find your first job
- The costs, and more
You can read my interview with her at How To Become A Voice Over Actor And Work From Anywhere.
How can I make money from home with no experience?
As you can see, there are many different options for you if you are looking for an online job or work from home business with no experience.
I hope you are able to find what works best for you and your situation.
What entry level work from home jobs would you add to the list above?
The post 20 Of The Best Entry Level Work From Home Jobs appeared first on Making Sense Of Cents.
Source: makingsenseofcents.com

Why Set Impossible Goals for 2021? [The Ultimate New Yearâs Savings Hack]
In the 1980s, self-driving cars and smartphones without antennas were only things youâd see in movies â unimaginable futuristic goals. Now, these âimpossibleâ inventions are part of peopleâs everyday lives. These innovative ideas were thought to be outlandish years ago…
Full Story
The post Why Set Impossible Goals for 2021? [The Ultimate New Yearâs Savings Hack] appeared first on MintLife Blog.
Tagged All, Blog, budget, Budgeting, BuyIn the 1980s, self-driving cars and smartphones without antennas were only things youâd see in movies â unimaginable futuristic goals. Now, these âimpossibleâ inventions are part of peopleâs everyday lives. These innovative ideas were thought to be outlandish years ago until creators like Elon Musk and IBMâs team put their impossible goals to the test.
Impossible goals are things you want to achieve that seem out of the ordinary â ones that feel as if you may never reach them, even in your wildest dreams. These goals could be turning your dream side hustle into a full-time job or building your savings from zero in the next year to buy your dream home.
While the end result seems unreachable, a mix of motivation, determination, and hard work can get you further than you think. To see the strategic process of setting and achieving your biggest life goals, keep reading our jump to our infographic below.
Whatâs an Impossible Goal?
An impossible goal is a goal you think you could never achieve. Becoming a millionaire, buying your dream home, or starting a business may be your life goal, but one too big that you never set out to achieve. Instead, you may stick to your current routine and believe you should live life in the comfort zone.
Becoming a millionaire usually requires investing time, confidence, and a lot of hard work â things that may challenge you. But when you think about the highest achievers, most of them had to put in the effort and believe in themselves when nobody else did.
Flashback to 1995 when nobody believed in the âinternet storeâ that came to be Amazon. While that was considered impossible years ago, Amazonâs now made over $280 billion dollars.
In other words, when you make your impossible goals a priority, you may be pleasantly surprised by your progress. We share how to set hard financial goals, why you should set them, and how these goals could transform your financial portfolio this year.
4 Reasons to Reach for the âImpossibleâ
Impossible goals challenge you to shift your way of thinking â getting comfortable out of the safety zone. They help fine-tune your focus for daunting tasks youâre willing to put in the time and work for. Whether youâre looking to become a millionaire, buy your dream house, or pay down your debts, hereâs why you should set goals for things you think you could never achieve.
1. You May Be Pleasantly Surprised
Everything seems impossible until you do it. When youâre in elementary school, maybe you thought getting a four-year college degree would be out of reach. Regardless, you put in the time and hard work to become a college grad years later. The same goes for your potential goal to write a book. You may think itâs hopeless to write a few hundred pages in the next year, but you may find it attainable once you hit the halfway point.
2. You Check Off Micro-Goals Along the Way
Itâs hard to set your goals too low when youâre trying to reach for the stars. In the past, you may have set small goals like being more mindful with your money. While mindfulness practices are extremely beneficial for your budget, you may need more of a push to save for your dream home. By setting impossible goals, you may find it easier to reach your savings goal this year. You may have no idea how to do it, but your goal is to figure it out. Side hustles, a new job, or starting a business are all potential starting points.
3. It May Not Be as Hard as You Think
It can be uncomfortable to try something for the first time, so to avoid the doubts of reaching your goals, create a strategic plan. Download and print out our printable to breakdown each impossible goal. Start with your big goals and break them down into mini-goals. For example, if you want to start an online ecommerce store, researching the perfect website platform is a good starting point.
4. What Do You Have to Lose?
If you already live a comfortable life, you may only have experiences to gain and nothing to lose. When embarking on this journey, check in with yourself every month. Note all the lessons you learned and how far youâve come. You most likely will face failures, but youâll be failing forward rather than backwards. Your first ecommerce product launch may not have gone smoothly, but you may know how to improve for the next time around.
How To Set Impossible Budgeting Goals in 6 Steps
If your impossible goal is related to finances, your mindfulness, time, and dedication will be required to put you on a path towards your dream life. To get started, follow our step-by-step guide below.
Step 1: Map Out Your Dream Lifestyle
- Get out a journal and map out your dream life. Some starter questions may be:
- Do you want to afford that house youâve always dreamt about?
- Do you want to have a certain amount of money in your savings?
- Are you hoping to turn your side hustle into a full-time job?
- What do you find yourself daydreaming about?
Track all these daydreams in a notebook and curate the perfect action plan to achieve each goal.
Step 2: Outline Micro-goals to Reach Your Financial Goals
Now, list out mini-goals to achieve your desires. Start with the big âunachievableâ goal and break it down into medium and small goals, then assign each mini-goal a due date. For example, saving $10,000 this year may take more than your current monthly earnings. To achieve this, you may create passive income streams. If that side hustle is to start a money-making blog, you may need to research steps to successfully launch your website.
Step 3: Believe and Act Like Your Future Self
Think of yourself as the future self you want to be. You may picture yourself with a certain home, financial portfolio, and lifestyle, but your current actions may not reflect your future self. Your future self may invest, but your current self is too intimidated to start. To act like your future self, consider doing the research and finding low-risk investments that suit you and your budget.
Step 4: If You Fail, Learn from Your Mistakes
When working towards your dream life, you may hit roadblocks and experience failures. As Oprah explains it, âthere is no such thing as failure. Failure is just life trying to move us in another direction.â While failure may happen, youâre able to learn from it and pivot. Every mistake you make, analyze it in your journal. Note what worked, what didnât, and what you want to do better tomorrow to surpass this roadblock.
Step 5: Track Your Results Consistently
Host monthly meetings with yourself to see how far youâve come. Consider creating a goal tracking system that suits you best. That may include checking your budgeting goals off in our app month after month. Find a system that works for you and note your growth at the end of each month. If youâre putting in the time and hard work, youâll get closer to your goals in no time.
Step 6: Be Patient With Your Budget Goals
Throughout this journey, practice patience. Setting goals may be exciting and motivating, but when youâre faced with failures, you may feel hints of disappointment. To avoid a failure slump, be patient and open to learn from your mistakes. If you didnât make what you wanted from your side hustle the first year, youâre that much closer than you were last year.
Why set your sights on hard goals? Everything feels out of reach until you do it. All it takes is motivation and determination to achieve the impossible. To boost your lifestyle, budget, and drive this New Year, consider setting goals that feel out of reach. Keep reading to see why these goals may be perfect for you. Why Set Impossible Goals for 2021? [The Ultimate New Yearâs Savings Hack] appeared first on MintLife Blog.
Source: mint.intuit.com

Debt Settlement vs Bankruptcy: Which is Best?
You’ve tried debt payoff strategies, balance transfers, consolidation, and even debt management; you’ve begged your creditors, liquidated your assets, and pestered your friends and families for any money they can afford, but after all of that, you still have more debt than you can handle. Now what? Once you reach the end of your rope, the […]
Debt Settlement vs Bankruptcy: Which is Best? is a post from Pocket Your Dollars.
Tagged All, Balance Transfers, bankruptcy, budget, Budgeting
You’ve tried debt payoff strategies, balance transfers, consolidation, and even debt management; you’ve begged your creditors, liquidated your assets, and pestered your friends and families for any money they can afford, but after all of that, you still have more debt than you can handle.
Now what?
Once you reach the end of your rope, the options that remain are not as forgiving as debt management and they’ll do much more damage to your credit score than debt payoff strategies. However, if you’ve tried other forms of debt relief and nothing seems to work, all that remains is to consider debt settlement and bankruptcy.
Debt settlement is a very good way to clear your debt. It’s one of the cheapest and most complete ways to eradicate credit card debt and can help with most other forms of unsecured debt as well. Bankruptcy, on the other hand, is a last resort option for debtors who can’t meet those monthly payments and have exhausted all other possibilities.
But which option is right for you, should you be looking for a debt settlement company or a bankruptcy attorney?
Similarities Between Bankruptcy and Debt Settlement
Firstly, let’s look at the similarities between bankruptcy and debt settlement, which are actually few and far between. In fact, beyond the fact that they are both debt relief options that can clear your debt, there are very few similarities, with the main one being that they both impact your credit score quite heavily.
A bankruptcy can stay on your credit report for up to 10 years and do a lot of damage when it is applied. It may take several years before you can successfully apply for loans and high credit lines again, and it will continue to impact your score for years to come.
Debt settlement is not quite as destructive, but it can reduce your credit score in a similar way and last for up to 7 years. Accounts do not disappear in the same way as when you pay them in full, so future creditors will know that the accounts were settled for less than the balance and this may scare them away.
In both cases, you could lose a couple hundred points off your credit score, but it all depends on how high your score is to begin with, as well as how many accounts you have on your credit report and how extensive the settlement/bankruptcy process is.
Differences Between Bankruptcy and Debt Settlement
The main two types of bankruptcy are Chapter 7 and Chapter 13. The former liquidates assets and uses the funds generated from this liquidation to pay creditors. The latter creates a repayment plan with a goal of repaying all debts within a fixed period of time using an installment plan that suits the filer.
Debt settlement, on the other hand, is more of a personal process, the goal of which is to offer a reduced settlement sum to creditors and debt collectors, clearing the debts with a lump sum payment that is significantly less than the balance.
Chapter 7 Bankruptcy and Chapter 13 Bankruptcy
When people think of bankruptcy, it’s often a Chapter 7 that they have in mind. With a Chapter 7 bankruptcy, all non-exempt assets will be sold, and the money then used to pay lenders. There are filing costs and it’s advised that you hire a bankruptcy attorney to ensure the process runs smoothly.
Chapter 7 bankruptcy is quick and complete, typically finishing in 6 months and clearing most unsecured debts in this time. There is no repayment plan to follow and no lawsuits or wage garnishment to worry about.
Chapter 13, on the other hand, focuses on a repayment plan that typically spans up to 5 years. The debts are not wiped clear but are instead restructured in a way that the debtor can handle. This method of bankruptcy is typically more expensive, but only worthwhile for debtors who can afford to repay their debts.
Filing for bankruptcy is not easy and there is no guarantee you will be successful. There are strict bankruptcy laws to follow and the bankruptcy court must determine that you have exhausted all other options and have no choice but to file.
Bankruptcy will require you to see a credit counselor, which helps to ensure that you don’t make the same mistakes in the future. This can feel like a pointless and demeaning requirement, as many debtors understand the rights and wrongs and got into a mess because of uncontrollable circumstances and not reckless spending, but sessions are short, cheap, and shouldn’t cause much stress.
How Debt Settlement Works
The goal of debt settlement is to get creditors to agree to a settlement offer. This can be performed by the debtor directly, but it’s often done with help from a debt settlement company.
The debt specialist may request that you stop making payments on your debts every month. This has two big benefits:
1. More Money
You will have more money in your account every month, which means you’ll have more funds to go towards debt settlement offers.Â
The idea of making large lump sum payments can seem alien to someone who has a lot of debt. After all, if you’re struggling to make $400 debt payments every month on over $20,000 worth of debt, how can you ever hope to get the $5,000 to $15,000 you need to clear those debts in full?
But if you stop making all payments and instead move that money to a secured account, you’ll have $4,800 extra at the end of the year, which should be enough to start making those offers and getting those debts cleared.
2. Creditor Panic
Another aspect of the debt settlement process that confuses debtors is the idea that creditors would be willing to accept reduced offers. If you have a debt worth $20,000 and are paying large amounts of interest every month, why would they accept a lump sum and potentially take a loss overall?
The truth is, if you keep making monthly payments, creditors will be reluctant to accept a settled debt offer. But as soon as you start missing those payments, the risk increases, and the creditor faces the very real possibility that they will need to sell that debt to a collection agency. If you have a debt of $20,000, it may be sold for as little as $20 to $200, so if you come in with an offer of $10,000 before it reaches that point, they’ll snap your hand off!
Types of Debt
A debt settlement program works best when dealing with credit card debt, but it can also help to clear loan debt, medical bills, and more. Providing it’s not government debt or secured debt, it will work.Â
With government debt, you need specific tax relief services, and, in most cases, there is no way to avoid it. With secured debt, the lender will simply take your asset as soon as you default.
Debt settlement companies may place some demanding restrictions on you, and in the short term, this will increase your total debt and worsen your financial situation. In addition to requesting that you stop making monthly payments, they may ask that you place yourself on a budget, stop spending money on luxuries, stop acquiring new debt, and start putting every penny you have towards the settlement.
It can have a negative impact on your life, but the end goal is usually worth it, as you’ll be debt-free within 5 years.
Pros and Cons of Debt Settlement and Bankruptcy
Neither of these processes are free or easy. With bankruptcy, you may pay up to $2,000 for Chapter 7 and $4,000 for Chapter 13 (including filing fees and legal fees) while debt settlement is charged as a fixed percentage of the debt or the money saved.Â
As mentioned already, both methods can also damage your credit score. But ultimately, they will clear your debts and the responsibilities that go with them. If you’ve been losing sleep because of your debt, this can feel like a godsendâa massive weight lifted off your shoulders.
It’s also worth noting that scams exist for both options, so whether you’re filing bankruptcy or choosing a debt settlement plan, make sure you’re dealing with a reputable company/lawyer and are not being asked to pay unreasonable upfront fees. Reputable debt settlement companies will provide you with a free consultation in the first instance, and you can use the NACBA directory to find a suitable lawyer.
Bankruptcy and Debt Settlement: The End Goal
For all the ways that these two options differ, there is one important similarity: They give you a chance to make a fresh start. You can never underestimate the benefits of this, even if it comes with a reduced credit score and a derogatory mark that will remain on your credit report for years to come.
If you’re heavily in debt, it can feel like your money isn’t your own, your life isn’t secure, and your future is not certain. With bankruptcy and debt settlement, your credit score and finances may suffer temporarily, but it gives you a chance to wipe the slate clean and start again.
What’s more, this process may take several years to complete and in the case of bankruptcy, it comes with credit counseling. Once you make it through all of this, you’ll be more knowledgeable about debt, you’ll have a better grip on your finances, and your impulse control.Â
And even if you don’t, you’ll be forced to adopt a little restraint after the process ends as your credit score will be too low for you to apply for new personal loans and high limit cards.
Other Options for Last Ditch Debt Relief
Many debtors preparing for debt settlement or bankruptcy may actually have more options than they think. For instance, bankruptcy is often seen as a get-out-of-jail-free card, an easy escape that you can use to your advantage whenever you have debts you don’t want to pay.
But that’s simply not the case and unless you have tried all other options and can prove that none of them have worked, your case may be thrown out. If that happens, you’ll waste money on legal and filing fees and will be sent back to the drawing board.
So, regardless of the amount of debt you have, make sure you’ve looked into the following debt relief options before you focus on debt settlement or bankruptcy.Â
Debt Consolidation
A debt consolidation loan is provided by a specialized lender. They pay off all your existing debts and give you a single large loan in return, one that has a lower interest rate and a lower monthly payment.Â
Your debt-to-income ratio will improve, and you’ll have more money in your pocket at the end of the month. However, in exchange, you’ll be given a much longer-term, which means you’ll pay more interest over the life of the loan.
A Debt Management Plan
Debt management combines counseling services with debt consolidation. A debt management plan requires you to continue making your monthly payment, only this will go to the debt management company and not directly to the creditors. They will then distribute the money to your creditors.
You’ll be given a monthly payment that you can manage, along with the budgeting advice you need to keep meeting those payments. In exchange, however, you’ll be asked to close all but one credit card (which can hurt your credit score) and if you miss a payment then your creditors may back out of the agreement.
Balance Transfer Card
If all your debts are tied into credit cards, you can use a balance transfer credit card to make everything more manageable. With a balance transfer credit card, you move one or more debts onto a new card, one that offers a 0% APR for a fixed period.Â
The idea is that you continue making your monthly payment, only because there is no interest, all the money goes towards the principal.
Home Equity Loans
If you have built substantial equity in your home then you can look into home equity loans and lines of credit. These are secured loans, which means there is a risk of repossession if you fail to keep up your payments, but for this, you’ll get a greatly reduced interest rate and a sum large enough to clear your debts.
Bottom Line: The Best Option
Debt settlement and bankruptcy are both considered to be last resort debt-relief options, but they couldn’t be more different from one another. Generally speaking, we would always recommend debt settlement first, especially if you have a lot of money tied up in credit card debt.
If not, and you can’t bear the idea of spending several months ignoring your creditors, missing payments, and accumulating late fees, it might be time to consider bankruptcy. In any case, make sure you exhaust all other possibilities first.
Debt Settlement vs Bankruptcy: Which is Best? is a post from Pocket Your Dollars.
Source: pocketyourdollars.com

How To Pay Off Student Loans Faster Than Ever
Nobody wants to pay off student loans longer than they have to, yet far too many people are stuck in lengthy repayment plans that seem like theyâll never end. While income-driven repayment plans backed by the federal government ask you to pay down loans for 20 to 25 years before leading to loan forgiveness, even the âstandardâ […]
The post How To Pay Off Student Loans Faster Than Ever appeared first on Good Financial Cents®.
Tagged All, Blog, budget, Buy, BuyingNobody wants to pay off student loans longer than they have to, yet far too many people are stuck in lengthy repayment plans that seem like theyâll never end. While income-driven repayment plans backed by the federal government ask you to pay down loans for 20 to 25 years before leading to loan forgiveness, even the âstandardâ repayment plan for federal loans lasts for a full ten years. No matter how you cut it, thatâs a long time!
With that in mind, you should know that itâs possible to pay off student loans faster if you are willing to think outside the box and forge your own path along the way. However, not all early repayment plans will work for every borrower, so itâs important to think through how to pay off student loans faster in a way that helps you reach your goals in a common sense way.
One strategy many borrowers use to pay off student loans faster is refinancing loans with a different lender. Not only do some student loan refinancing companies offer lower interest rates and flexible repayment terms, but you could even earn a cash bonus just for signing up.
9 Ways to Pay Down Student Debt Faster
The sooner you can pay off all your student loans, the quicker you can move on with your life. Here are some strategies to consider that can help you pay off your student loans much faster than a traditional repayment plan allows.
What You’ll Learn
- Make More Than the Minimum Monthly Payment
- Try the Debt Snowball
- Refinance with a Private Lender
- Enroll in Autopay to Score a Lower Interest Rate
- Make Payments While Youâre in School
- Live Like a Poor Student
- Earn Money On the Side
- Throw All âFound Moneyâ Toward Your Student Loans
- Ask Your Boss for Help
Make More Than the Minimum Monthly Payment
The minimum payment on your student loans is the absolute minimum amount youâre supposed to pay, but thereâs nobody stopping you from paying more. And, if you make extra payments the right way, you could easily pay down the principal of your student loans at a faster pace.
Unfortunately, many student loan servicing companies wonât automatically apply extra payments you make toward your loan principal. Instead, theyâll use any payment overages to âpay aheadâ on your loans and continue making the next monthâs payments as well as the prepaid interest for future months.
If you decide to pay extra toward your student loans, youâll need to specify that you want overage payments to go toward the principal of your balance. You can do this over the phone or by written message when you mail in your monthly student loan payment, but make sure you donât forget.
Try the Debt Snowball
The debt snowball method for getting out of debt is worth considering if you have several different student loan bills to juggle each month. This strategy requires you to make a list of your student loans and each of their balances. From there, youâll start the next month by paying the minimum amount on all your largest loan balances and as much as you can on the smallest balance you have. Over time, youâll continue paying as much as you can toward your smallest balances until theyâre gone, at which point youâll âsnowballâ all your extra payments toward the next smallest debt.
With the debt snowball, youâll slowly pay off your smallest loan balances until you only have the few largest balances left. Eventually, youâll only have one student loan left and youâll pay all the cumulative payments of all the others toward this debt until itâs gone, too.
The benefit of this strategy is the momentum youâll gain as you knock out small balances one at a time. Not only will your balances go down, but youâll have fewer loan payments to make each month as well.
Refinance with a Private Lender
You can also consider refinancing all your student loans into one new one, which has the potential to save you more money than any other strategy on this list. Many private student loan companies offer fixed interest rates as low as 3.50% right now, which is lower than any federal student loans offer. Of course, you do have to have an income and good credit or a cosigner to qualify.
How much can you save by refinancing your student loans? That really depends on how much debt you have, your current interest rate, and your current repayment timeline.
However, letâs say that you have $10,000 in student loans with an APR of 7% and you just started a 10-year repayment plan. In that case, you would pay $121.33 per month for ten years and a total of $4,559 in interest before your loan was paid off.
If you were able to refinance your loans into a new private loan with the same repayment plan at 3.50%, however, you could pay just $96.56 per month for ten years and only $1,587 in interest during that time. Better yet, you could refinance into a new 7-year loan, pay $132.13 per month, fork over only $1,099 in interest during that time, and shave three full years off your repayment timeline.
Enroll in Autopay to Score a Lower Interest Rate
Some student loan companies offer discounts to customers who are willing to sign up for automatic payments. This discount is usually around .25% off, but all you have to do is allow your student loan payment to be debited from your checking account automatically each month.
These programs make it easy to stay on track with your student loan payments, and they also ensure you are never late. All you have to do is make sure you have the cash in your account before the date your payment is automatically debited each month.
Make Payments While Youâre in School
If you havenât graduated from college yet, itâs not too early to start preparing for the inevitability of that first student loan payment. Further, it can be extremely smart to make payments while youâre still in school if some of your student loans are unsubsidized.
Whatâs the difference between subsidized and unsubsidized student loans? By and large, the biggest difference is the fact that the federal government pays the interest on subsidized loans while youâre still in college, but they do not extend this benefit to unsubsidized student loans. By making payments on unsubsidized loans while youâre still in school, you can keep student loan interest at bay and keep your loan balances from ballooning until you have a job and can attack your student loan debt with all your might.
Live Like a Poor Student
Itâs tempting to inflate your lifestyle once you graduate from college and start bringing in a paycheck, but this is the opposite of what you should do if your goal is getting out of debt faster. The longer you can live at home with your parents or share an apartment with roommates, the more money you can continue throwing toward your student loans. And, if you can hold off on buying a house or financing a new car, youâll be in even better shape when it comes to destroying your student loan debt at a record pace.
Finance guru Dave Ramsey frequently gives the following advice, which I absolutely agree with:
âLive like no one else now so you can live like no one else later.â
Living the poor student lifestyle for as long as possible is a smart way to pay down debt when youâre first starting out.
If you have roommates, keep them.
If youâre managing to get by on Ramen, keep it up.
Once your student loans are paid off and in your rearview mirror, you can start using your income to pay for the lifestyle you really want.
Earn Money On the Side
If you want to pay your debts down even faster, earning more money is one approach that always works. The key here is making sure you use the extra money you earn to pay off your student loans instead of paying for stuff you donât need.
Weâve shared myriad side hustles here on Good Financial Cents in the past, from 65 side hustles you can do from your kitchen table to ideas on starting an online business. Some of the easiest ways to earn money include driving for Uber or Lyft, starting a blog, or learning an online skill people will pay you for. You could become an online freelance writer or sell your design or data entry skills with a website like Fiverr.com. Heck, you could walk dogs in your spare time or mow peopleâs yards in your neighborhood.
The basic principle is the same no matter what side hustle suits your fancy. Pour as much time or effort into your side hustle as you can, and use all the extra money you earn to pay off your student loans.
Throw All âFound Moneyâ Toward Your Student Loans
If you get any extra money during the course of the year, you should absolutely throw your âfoundâ cash toward your student loans. This can include your tax refund each year, any Christmas bonuses you get from employment, and money you get from working over time. Heck, you can even throw your birthday money at your student loans.
Any extra money you pay toward your loans can be used to reduce the balances of your debts, which in turn lowers the amount of interest you pay over the life of your loan.
Remember that, when it comes to paying off debt, even small amounts of money can add up in a big way. By throwing all found money you come across toward your loans each year, you can expedite your debt payoff process even more.
Ask Your Boss for Help
While asking your boss for help with student loans is a fairly novel concept, it isnât unheard of.
Actually, nearly anything is on the table when youâre negotiating your salary or benefits â and sometimes, the key to getting what you really want is just asking for it.
Further, some industries and government agencies have already thought of this option. For example, some government employees can receive up to $10,000 a year towards student debt repayment by accessing the federal governmentâs Student Loan Repayment Program.
Similar programs are also available for nurses and teachers through the Nursing Education Loan Repayment Program and Teach for America, which is part of AmeriCorps.
Students who find work in the public sector can also get help with student loans by applying for the Public Service Loan Forgiveness Program.
With this option, the federal government will forgive the remaining balance on your Direct Loans provided you have made 120 qualifying payments and remained employed with a qualified employer in the public service sector.
Which strategy made the difference? 3 financial experts weigh in
Plenty of people have used these tips and others to pay off their student loans once and for all. We reached out to several people who have paid off their loans for good to find out how they did it and which strategies they suggest. Hereâs what they said:
Paying Off Student Loans with a Side Hustle
âIn my early 20âs, I was paying a very affordable $160 per month on my $25,000 of student loan debt. It wasnât much to pay and it seemed my balance never decreased. Thatâs one of the reasons I decided to start blogging at 28 years old. After about six months, I started earning extra income from my blog and began sending extra payments toward my student loan.
As my blog income grew, I was able to send chunks of $1,000 to $2,000 pretty regularly in my 30âs and I finally began making a dent in my balance. I made my final student loan payment at 38 years old and it was glorious. Had I not been able to send in extra money, I probably would have been paying student loans into my 50âs.â â Chris Huntley, co-founder of Credit Knocks
Living the Poor Student Lifestyle
âMy wife graduated with over $80,000 of student loan debt, but we managed to pay it all off in just under three years. We had to make sacrifices to pay that much debt off quickly, but we also had other things going for us that made it easier. My wife is a registered nurse and I was an accountant at the time so we earned a reasonable income.
We didn’t have anyone else relying on us so our spending decisions only impacted ourselves. We kept our expenses to the minimum and continued to live like college students to put as much money toward the debt as we could. We bought a small townhouse that resulted in a monthly mortgage payment of only $500.
We had a very limited fun budget and didn’t go on traditional vacations. We refused to buy new furniture (except for much-needed mattress) or go out to eat multiple times per week. Instead, we cooked at home and relied on hand-me-downs or used furniture to get by until the debt was paid off. We also put off decorating and renovating our home unless the cost was minimal and we could do the work ourselves.â â Lance Cothern, founder of Money Manifesto
Earning Money On the Side to Pay Down Debt
âI paid off almost $43,000 in student loan debt in three years. First, I worked full-time during college and that helped minimize expenses. After graduation, I was promoted at my same company, and earned a starting salary of $45,000 per year.
However, while working, I was also side hustling and earning extra money. My main side gig was buying things to resell on eBay. At my peak, I was making a profit of about $2,000 per month. I would also do off jobs, and I started my blog, The College Investor.
Between my day job and side hustle earnings, I was able to knock out my student loans in a short amount of time.â â Robert Farrington, co-founder of The College Investor
The Bottom Line
Thereâs no reason to pay off your student loans any longer than you have to. Any of the tips on this list could help you get out of debt faster, and itâs even possible to use more than one of these tips to annihilate your debts at lightning fast speed.
As the nationâs total student loan debt levels continue to rise, we all have to take responsibility for ourselves. Let the numbers fall where they may; itâs up to us to find ways to get our finances straight â and if that process includes paying off student loans the hard way, so be it.
Just remember, youâve got a wealth of tools at your disposal.
Using everything from debt calculators to budgeting tools, you can dream up dozens of ways to get out of debt faster, and most importantly, smarter.
With student loan debt levels at an all-time high, youâre going to need all the help you can get.

The post How To Pay Off Student Loans Faster Than Ever appeared first on Good Financial Cents®.
Source: goodfinancialcents.com
With the end of the year rapidly approaching, itâs a good time to take stock of your financial situation as you head into 2021. 2020 has been a strange year, and a difficult year for many people. With many peopleâs…
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The post 7 Money Steps to Take Before 2021 appeared first on MintLife Blog.