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When most parents offer to fund their childâs tuition, itâs with the expectation that their financial circumstances will remain relatively unchanged. Even with minor dips in income or temporary periods of unemployment, a solid plan will likely see the child through to graduation.
Unfortunately, what these plans donât tend to account for is a global pandemic wreaking havoc on the economy and job market.
Now, many parents of college-age children are finding themselves struggling to stay afloat – much less afford college tuition. This leaves their children who were previously planning to graduate college with little or no debt in an uncomfortable position.
So if youâre a student suddenly stuck with the bill for your college expenses, what can you do? Read below for some strategies to help you stay on track.
Contact the University
Your first step is to contact the university and let them know that your financial situation has changed. You may have to write something that explains how your parentâs income has decreased.
Many students think the federal government is responsible for doling out aid to students, but federal aid is actually distributed directly by the schools themselves. In other words, your university is the only institution with the authority to provide additional help. If they decide not to extend any more loans or grants, youâre out of luck.
Ask your advisor if there are any scholarships you can apply for. Make sure to ask both about general university scholarships and department-specific scholarships if youâve already declared a major. If you have a good relationship with a professor, contact them for suggestions on where to find more scholarship opportunities.
Some colleges also have emergency grants they provide to students. Contact the financial aid office and ask how to apply for these.
Try to Graduate Early
Graduating early can save you thousands or even tens of thousands in tuition and room and board expenses. Plus, the sooner you graduate, the sooner you can get a job and start repaying your student loans.
Ask your advisor if graduating early is possible for you. It may require taking more classes per semester than you planned on and being strategic about the courses you sign up for.
Fill out the FAFSA
If your parents have never filled out the Free Application for Federal Student Aid (FAFSA) because they paid for your college in full, now is the time for them to complete it. The FAFSA is what colleges use to determine eligibility for both need-based and merit-based aid. Most schools require the FAFSA to hand out scholarships and work-study assignments.
Because the FAFSA uses income information from a previous tax return, it wonât show if your parents have recently lost their jobs or been furloughed. However, once you file the FAFSA, you can send a note to your university explaining your current situation.
Make sure to explain this to your parents if they think filing the FAFSA is a waste of time. Some schools wonât even provide merit-based scholarships to students who havenât filled out the FAFSA.
Get a Job
If you donât already have a job, now is the time to get one. Look at online bulletin boards to see what opportunities are available around campus. Check on job listing sites like Monster, Indeed and LinkedIn. Make sure you have a well-crafted resume and cover letter.
Try to think outside the box. If youâre a talented graphic designer, start a freelance business and look for clients on sites like Upwork or Fiverr. If youâre a fluent Spanish speaker, start tutoring other students. Look for jobs where you can study when things are slow or that provide food while youâre working.
Ask anyone you know for suggestions, including former and current professors, older students and advisors. If you had a job back home, contact your old boss. Because so many people are working remotely these days, they may be willing to hire you even if youâre in a different city.
It may be too late to apply for a Resident Advisor (RA) position now but consider it as an option for next year. An RA lives in the dorms and receives free or discounted room and board in exchange for monitoring the students, answering their questions, conducting regular inspections and other duties.
Take Out Private Loans
If you still need more money after youâve maxed out your federal student loans and applied for more scholarships, private student loans may be the next best option.
Private student loans usually have higher interest rates and fewer repayment and forgiveness options than federal loans. In 2020, the interest rate for federal undergraduate student loans was 2.75% while the rate for private student loans varied from 3.53% to 14.50%.
Private lenders have higher loan limits than the federal government and will usually lend the cost of tuition minus any financial aid. For example, if your tuition costs $35,000 a year and federal loans and scholarships cover $10,000 a year, a private lender will offer you $25,000 annually.
Taking out private loans should be a last resort because the rates are so high, and thereâs little recourse if you graduate and canât find a job. Using private loans may be fine if you only have a semester or two left before you graduate, but freshmen should be hesitant about using this strategy.
Consider Transferring to a Less Expensive School
Before resorting to private student loans to fund your education, consider transferring to a less expensive university. The average tuition cost at a public in-state university was $10,440 for the 2019-2020 school year. The cost at an out-of-state public university was $26,820, and the cost at a private college was $36,880.
If you can transfer to a public college and move back home, you can save on both tuition and housing.
Switching to a different college may sound like a drastic step, but it might be necessary if the alternative is borrowing $100,000 in student loans. Remember, no one knows how long this pandemic and recession will last, so itâs better to be conservative.
The post My Parents Can’t Afford College Anymore – What Should I Do? appeared first on MintLife Blog.
More and more are choosing to attend college and work at the same time.
Whether you are working a part-time or a full-time job, it can be tough to balance both. There are many working students in college who are able to manage both, but there are also many who aren’t able to.
If you don’t balance them both correctly, it may lead to stress, lower grades, low-quality work being produced, and more.
No one wants that and I’m sure you don’t either.
Related: 21 Ways You Can Learn How To Save Money In College
This is supposed to be the time of your life where you are growing and changing, not feeling like you are drowning in everything that is going on around you.
There are ways to get around it and manage both successfully at the same time, though.
I took a full course load each and every semester, worked full-time, and took part in extracurricular activities. It was definitely hard and I won’t lie about that. However, sometimes a person doesn’t have a choice and has to do everything at once or maybe you are choosing to multi-task and you are wanting to better manage your time.
Related post: How I Graduated From College In 2.5 Years With 2 Degrees AND Saved $37,500
Whatever your reason may be, below are my tips for working college students. The tips below are what helped save me!
Carefully plan your class and work schedule.
My first tip for working college students is to carefully plan your class and work schedule.
Some students just choose whatever classes are offered. However, it is much wiser to carefully craft your school and work schedule so that everything flows together efficiently with minimal time wasted.
You can do this by researching into what classes are offered when and trying to eliminate any gap that may be in-between each class. Having an hour or two break between each class can quickly add up. Also, if you happen to have time off between classes, then using this time to do your homework and/or study can be a great use of time as well.
Related post: How I’m a Work-Life Balancing Master
Eliminate any time that may be wasted.
There are many time sucks that you may encounter each day. A minute here and a minute there may add up to a few hours wasted each day.
The time you save could be used towards earning more money at your job, studying, socializing, or whatever else it is that you need or want to do. For working college students, every minute is important.
There are many ways to eliminate any time wasters including:
- Cut down on your commute time. If you can find a job near your college campus then you can eliminate a lot of traveling time.
- Prep your meals ahead of time. If you can bulk make your meals instead of individually making each one, you will be able to save a lot of time.
- Be aware of how much time you spend on social media and TV. The average person wastes many, many hours on social media and watching TV. Cutting back on this may save you hours each day without you even realizing it.
Related post: 75 Ways To Make Extra Money
Separate yourself from distractions.
Working college students experience a lot of distractions.
Noise in the background, such as with a TV that is on or a party your roommate may be throwing, can distract you from what you need to be doing. If you are trying to study or do homework then you should try to find a quiet place to get work done.
You may want to close your bedroom door, hide the remote from yourself (trust me, this works!), go to the library, or something else.
Related: 16 Best Online Jobs For College Students
Have a to-do list and a set schedule.
Having a to-do list is extremely helpful for working students in college because you will know exactly what has to be done and by when. You will then have your responsibilities sitting there right in your face so that you will have to face reality.
Plus, I know that when I am stressed it can be easy to forget things, so having a to-do list eliminates any valuable minutes I may waste debating about whether I forgot to do something.
Working students in college need to be realistic.
While one person may be able to work like crazy and attend college at the same time, not everyone can do that.
If your grades are dropping, then you may want to analyze whether you should drop your hours at work or school. What is more important to you at this time and for your future?
With the tips above for working students in college, you’ll be able to rock both your job and your college classes at the same time. Don’t forget to fit in time for fun as well. Good luck!
Are you one of the many working college students out there? Why or why not?
The post How To Balance Working And Going To College appeared first on Making Sense Of Cents.
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NFL great Tom Brady has finally offloaded his Massachusetts mansion. The quarterback and his wife, supermodel Gisele BÃ¼ndchen, have sold their luxeÂ Brookline estate, according to the Boston Globe.
The transaction appears to have been an off-market deal, with no price information disclosed for the transaction. Sources told the Globe that the property was offered for $32.5 million.
The custom-built,12,000-square-foot estate outside of Boston initially debuted at $39.5 million in 2019, then quickly dropped to $33.9 million.
The mansion built in 2015 came off the market in May, when luxury home sales were stalled by the coronavirus pandemic. But a buyer surfaced at the end of 2020.
In 2013, the couple picked up a prime 5-acre plot from the local cash-strapped Pine Manor College for $4.5 million.
They tapped architect Richard Landry, of Landry Design Group, to create their East Coast estate. Landry has also worked on the couple’s Los Angeles mansion, which was featured in Architectural Digest.
Landry’s design sits adjacent to the ninth hole of the Country Club in Brookline, with serene views and plenty of privacy.
The five-bedroom main house features a dining room, living room, home office, chef’s eat-in kitchen, and family room. A grand stairwell leads to the bedrooms on the second floor.
The lower level includes a rec room, playroom, wine room, gym, and spa.
Watch: QB Drew Brees Looks to Unload His Amazing Kauai Condo
The sprawling grounds include gardens, a pool, and a âbarn-inspiredâ guesthouse with a yoga studio, full bathroom, and sleeping loft. The property comes with a three-car garage, carport, and circular drive with ample parking.
Brady’s mansion sits just down the road from Reebok founder Paul Fireman‘s lavish property, which was finally sold in 2020 after four years on the market. That 27,000-square-foot mansion had been priced at as much as $90 million, before finally selling for $23 million. George and Manny Sarkis of Douglas Elliman represented Fireman.
The agents also sold Fireman’s adjacent 7 acres for $18 million to developer C. Stumpo Development, which plans to build luxury homes on the land.
âAfter closing on both 150 Woodland Road [the Fireman home] and the five adjacent lots, we are very excited about the current and future Brookline market,” says Manny. “Buyers continue to trend to the suburbs, seeking more land and bigger homes.”
The jet-setting duo received another Christmas gift of good news in 2020, with a reported sale of their Tribeca loft. The two had made the penthouse available forÂ just under $40 million last November. If they got their asking price, they’ll stroll away with a large profit.
The couple had picked up the place in 2018 for $25.46 million. The five-bedroom, 5.5-bath unit features a 1,900-square-foot terrace and Hudson River views. Building amenities include an 82-foot lap pool and a private drive-in entrance.
The couple still own a lower-floor unit in the same 14-floor building.
New year, new homes
Brady left Brookline after he signed with the Buccaneers. The QB has since put roots down in South Florida. In October, Brady and Bundchen were reportedly circling a waterfront property in Clearwater.
And then Brady made a move on Florida’s other coast in December, with a reported $17 million purchase of a home on Miamiâs Indian Creek Island, known as the Billionaires Bunker.
The couple plan to raze the current house on the land in Miami and build anew. They’re reportedly looking to emulate the L.A. home theyÂ sold to Dr. Dre for $40 million in 2014. Sounds like the services of their favorite architect may once again be required.
The post Tom Brady and Gisele Bundchen Finally Sell Their Massachusetts Mansion appeared first on Real Estate News & Insights | realtor.comÂ®.
All articles about college rankings should perhaps be read with a grain of salt and primarily through a lens of what matters most to individuals about the college experience and what theyâre hoping it will be an investment toward.
Prominent publications and people have conveyed a variety of views about whether college rankings matter:
The editor-in-chief of the Science Family of Journals said no in May 2020. âTo any logical scientific observer, the fine distinctions of where schools show up on this (U.S. News & World Report Best Colleges) list are statistically meaninglessâbut try telling that to a roomful of alumni or parents,â H. Holden Thorp wrote.
Ian Bogost, distinguished chair at Georgia Tech, wrote in The Atlantic in June 2020: âThe absurdity of a numerical ranking mechanism for colleges becomes apparent the moment you look at how U.S. News calculates it. The methodology reads like a Dungeons and Dragons character sheet: 8% for class size; 10% for high-school-class standing; 4.4% for first-to-second-year student retention, and so on.â
But just because the consensus leans toward ânoâ doesn’t mean it should be the last word on anyoneâs ultimate decision about where to go to school.
Even U.S. News & World Report says on its best-colleges website: âThe rankings provide a good starting point for students trying to compare schools. â¦ The best school for each student, experts say, is one that will most completely meet his or her needs, which go beyond academics.â
What Are the College Rankings?
There is no single, ultimate, etched-in-stone set of college rankings. All over the world, there are entities using a wide array of criteria to appraise universities.
Rather than expecting a âyesâ or ânoâ to the question of whether college rankings matter, it would be more beneficial to understand why “It depends” could be more appropriate.
If you’re aiming for an education from a prestigious school, and money is no objectâwell, first of all, congratulations and good luck.
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The post Do College Rankings Matter? appeared first on SoFi.
Reaching your twenties is an exciting milestone for most as it means youâve officially entered adulthood. Along with that milestone comes new responsibilities and worries that we didnât picture when our teenage selves dreamed of turning 21. We imagined our college graduation, moving into our first apartment, and launching our new career. That vision didnât include dealing with student loan debt, taking on a low paying entry-level job, or having to confront that despite spending 4 years in college, youâre still unsure how the world of personal finance actually works.
Itâs easy to dismiss it all because well youâre a 20 something, and youâll have plenty of time to play catch up. The reality is that each decade plays an important role in our future financial health. Take the time now to learn about your money and follow the money moves outlined below to put yourself on a path of lifelong financial success and eventual freedom.
Money Moves to Make in Your 20âs:
Learn How To Budget
Building a budget doesnât have to be overly complicated or time-consuming. Itâs actually the first step in putting yourself in control of your finances because it means you know where your money goes each month. The good news is that there are lots of apps and online tools that can make the process a breeze. Consider a system like Mint that will connect to your accounts and automatically categorize your spending for you. The right budgeting tool is simply the one youâll stick with long term.
Pay Off Debt
Debt isnât all bad. It may be the reason you were able to earn your degree, and a mortgage may help you one day buy a home. It can also quickly overrun your life if you arenât careful. Nowâs the perfect time before life gets more hectic with family commitments to buckle down and tackle any loans or credit card balances so you can be debt-free going into your 30âs.
Build a Cash Cushion
The financial downturn caused by the pandemic has reminded the whole world of the importance of having an emergency fund. We donât know what life is going to throw at us and having a cushion can help you navigate the uncertain times. Though itâs not all about having a secret stash of cash to deal with the bad news of life (medical bills, car repair, layoff), it can also be about having the cash to seize an exciting opportunity. Having savings gives you the freedom and security to deal with whatever life brings your way – good or bad.
Your credit score can dictate so much of your life. That little number can play a big role in the home you buy, the car you drive, and even the job you hold as some employers (especially in the finance world) will pull your credit. Itâs important that you check your credit report and score (also available through Mint), learn how itâs calculated, and work to improve it.
Money Moves to Make in Your 30âs:
Invest For Retirement
Now that youâve spent your 20âs building the foundation for your financial life, itâs time to make sure youâre also tackling the big picture goals like saving and investing for retirement. I typically recommend that clients save 10% to 15% of their annual income towards retirement. That may seem like an insurmountable goal, but starting small by saving even 1 to 3% of your salary can make a big difference in the future. Also, make sure to take advantage of any matching contributions that your employer may provide in your retirement plan. If, for example, they offer to match contributions up to 6%, I would try hard to work towards contributing at least 6%.
Buying Your First Home
Buying your first home is a top goal for many, but it also seems to be getting increasingly more difficult especially if you live in a major city. The most important steps you can take is to improve your credit score, pay down high-interest debt, and be aggressive about saving for a down payment. Saving 20% down will help you qualify for the best loan terms and interest rate, but there are still home loans available even if you arenât able to save that much. Just be realistic with your budget and what you can afford. Donât let a lender or real estate agent determine what payment will fit into your budget.
Be Covered Under These Must-Have Insurances
Youâve spent the last several years building your savings and growing your family. Itâs now crucial that you have the proper insurance coverage in place to protect your assets and your loved ones. Life and disability insurance are top of the list. Life insurance doesnât have to be expensive or complex. Get a quote for term-life that will last a set number of years and protect your partner and children during those crucial years that they depend on you. Disability insurance protects your income if you become sick or injured and are unable to work. Your earning ability is one of your biggest assets during this time, and you should protect it. This coverage may be offered through your employer, or you can request a quote for an individual policy.
Invest in Self-Care and Well Being
Mental health is part of self-care and wealth. Most people donât talk about how financial stress and worry affect their overall health. When you can take care of yourself on all levels, you will feel healthier and wealthier, and happier. But it is not easy. It takes work, effort, awareness, and consciousness to learn how to detach the value in your bank account or financial account from your self-worth and value as a human being. When you feel emotional about your money, investments, or the stock market, learn ways to process them and take care of yourself by hiring licensed professionals and experts to help you.
Money Moves to Make in Your 40âs:
Revisit Your College Savings Goal
As your kids get older and prepare to enter their own journey into adulthood, paying for college is likely a major goal on your list. Consider opening a 529 plan (if you havenât already) to save for their education. 529 plans offer tax advantages when it comes to saving for college. There are lots of online resources that can help you understand and pick the right plan for you. Visit https://www.savingforcollege.com. This is also a great time to make sure you’re talking to your kids about money. Give them the benefit of a financial education that you may not have had.
Get Aggressive with Retirement Planning
Your 40âs likely mark peak earning years. Youâll want to take advantage of your higher earnings to maximize your retirement savings especially if you werenât able to save as much in your 20âs and 30âs. Revisit your retirement plan to crunch the numbers so you’ll be clear on what you need to save to reach your goal.
Build More Wealth
Youâve arrived at mid-life probably feeling younger than you are and wondering how the heck that big 4-0 got on your birthday cake. We typically associate being 20 with being free, but I think weâve got it wrong. There is something incredibly freeing about the wisdom and self-assurance that comes with getting older. Youâve proved yourself. People see you as an adult. Your kids are getting older and your finances are more settled. Nowâs the time to kick it up to the next level. Look for ways to build additional wealth. This may mean tapping into your entrepreneurial side to launch the business youâve dreamed of or buying real estate to increase passive income. Nowâs also a great time to find a trusted financial advisor who can help guide your next steps and help you plan the best ways to build your wealth.
Revisit Your Insurance Coverage
Insurance was crucial before, but itâs time to revisit your coverage and make sure youâre protected especially if you decide to launch a business or buy additional real estate. This is also where a financial advisor can help you analyze your coverage needs and find the policies that will work for you.
Consider Estate Planning
Estate planning (think wills, trusts, power of attorney) isnât the most fun / exciting topic. It involves imagining your gone and creating a plan for the loved ones you leave behind. It is also often overlooked by adults in their younger years. Itâs easy to assume estate planning is something the wealthy need to do. It really comes down to whether you want to decide how your life savings will be managed or if you want a court to decide. Itâs also crucial for parents with children who are minors to select a guardian and have those uncomfortable conversations with their family members about who would care for the children if the worst were to happen. Itâs also a good time to visit this topic with your own aging parents and make sure they have the proper documents and plans in place.
Whether you’re in your 20âs, 30âs or 40âs, it can be easy to put off planning your finances especially in the middle of a pandemic. Most of us are busy, and itâs easy to tell yourself that youâll have time to work on a goal in the future. Commit to setting aside one hour each week or even each month to have a money date and review your finances. Donât let yourself reach a milestone birthday (30, 40) and regret not being farther ahead. Follow these money moves now to seize control of your financial future.
The post Money Moves to Make in Your 20s, 30s, and 40s appeared first on MintLife Blog.
Sound money management is an important part of a solid financial strategy. Youâll want to have some of your money set for retirement in a traditional or Roth IRA. Still, other money might be saved for your kidsâ college, a down payment on a house or other longer-term goals. And then you might have an emergency fund as well as a checking account that you use to pay your monthly bills and expenses. Each of these buckets of money can be in a different kind of account. In this article, weâll look at some of the best checking accounts.
What makes a good checking account
Before we look at some of the best checking accounts, itâs a good idea to talk about what makes for a good checking account. A checking account is an account that you would typically use to pay your ongoing monthly expenses. It is more and more rare to actually write paper checks, and instead, you would typically use a debit card or cashless payment account linked to your checking account.Â
With a checking account, some features to look for include no monthly or maintenance fees, a low minimum amount to open an account, the rate at which they pay interest, and any account opening bonus they might offer. The interest rate that checking and savings accounts pay is tied to the federal funds rate and usually varies over time. As of 2020, the interest rates are quite low, and many checking and savings accounts do not pay any interest at all. Also keep in mind that even if your account pays you 1% interest, youâre still losing money to inflation. So you wouldnât want to keep any long-term investment money in a checking or savings account.
With all that being said, letâs take a look at some of the top checking accounts available.
Discover Cashback Debit
Discoverâs checking account offers 1% cash back on up to $3,000 in debit card purchases each month, which is one of the few debit cards that offer a reward on ongoing purchases. The Discover Cashback Debit account also comes with no monthly maintenance or other fees, no fees to withdraw at over 60,000 ATMs worldwide and no fees for insufficient funds.
CapitalOne 360 Checking
The CapitalOne 360 Checking account has no account minimums or fees. It currently offers a 0.10% APY on balances, though you can also open a no-fee CapitalOne 360 Performance Savings account which offers 0.65% APY as of the time of this writing. CapitalOne also has thousands of branch offices nationwide, so you can do your banking online or in-person. The CapitalOne 360 Checking account offers three different options if you happen to overdraft your account – Auto-Decline, Next Day Grace and Free Savings Transfer.
Fidelity Cash Management Account
Fidelityâs Cash Management Account also offers no account fees or minimum balances. It also reimburses ATM fees nationwide, though only offers 0.01% APY on account balances. Fidelity makes it easy to transfer money between your checking account, savings accounts and any retirement accounts you have with Fidelity. Plus, the Fidelity Rewards Visa offers 2% cash back on all purchases, which you can redeem into your Fidelity Cash Management Account or any other Fidelity account.
Wealthfront Cash Account
Wealthfrontâs Cash Account offers a high-interest checking account (0.35% APY as of this writing) with no fees. And Wealthfrontâs convenient account dashboard lets you easily move money between your checking account and any investment or retirement accounts that you have with them. They also offer a service where you can get access to your paycheck up to two days early if you direct deposit into your Wealthfront Cash Account
HSBC Premier Checking
HSBCâs Premier Checking account also offers no fee on ATMs nationwide or for everyday banking transactions, but does charge a monthly maintenance fee if you donât have at least $75,000 in combined accounts or direct deposits of at least $5,000 monthly. They are currently offering a promotion where you can earn 3% as a welcome bonus, up to $600. Youâll get 3% on qualifying direct deposits, up to $100 per month, for the first six months of having your account.
Chase Total Checking
Chase Total Checking is currently offering a welcome bonus of $200 when you open a new account and have a direct deposit made to your account in the first 90 days. Chase Total Checking is currently paying an interest rate of only 0.01% APY. Also, there is a $12 monthly maintenance fee which can be avoided if you either:
- Have direct deposits totaling $500 or more
- Have a balance at the beginning of each day of $1,500 or more
- Have an average beginning day balance of $5,000 or more in any combination of all of your Chase accounts
The post Best Checking Accounts 2020 appeared first on MintLife Blog.
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 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:
- 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
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
- Opinion Outpost
- 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
- 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)
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.
Whereas Dave Ramseyâs Baby Steps have often been dissected one at a time, my goal in this post is to give an overview of the steps as a unit and explain why the order is essential.
Hopefully, these steps can help you create a focused life plan for your finances, regardless of your age or financial well being.
First, the Baby Steps:
- Step 1: $1,000 in an emergency fund.
- Step 2: Pay off all debt except the house utilizing the debt snowball.
- Step 3: Three to six months of savings in a fully funded emergency fund.
- Step 4: Invest 15% of your household income into Roth IRAs and pre-tax retirement plans.
- Step 5: College Funding
- Step 6: Pay off your home early.
- Step 7: Build wealth and give.
The Power of Focus
Daveâs premise with the Baby Steps is that people can accomplish great things IF they can just be focused. When you read over these seven steps, you think, âYes. I need to be saving. But I also need to be investing for retirement. I should get my house paid off early. But I also need to be getting out of debt and saving for my kidâs college.”
You would readily agree that all of these goals are important for successful financial planning. The problem is that your stress level kicks into overdrive with the prospect of doing them all. You clench your jaw and do what you are capable of doing while feeling anxious about the goals you place on the back burner.
The Baby Steps plan works because when you stay focused on one step at a time, you can knowingly put some important goals on hold without the nagging feeling that you are leaving something undone.
You can also check out my YouTube video where I break down each of Dave’s Baby Steps here:
Because accomplishing each step puts you in a great position to accomplish the next one.
You begin to feel an empowerment and a sense of control as you get one step behind you and start the next one. You are making progress instead of treading water.
Why Are the Baby Steps in the Order They Are In?
Steps 1 and 2: $1,000 Emergency Fund and Debt Snowball
Notice that Steps 3 through 7 are all about using your money to do something positive for you and your family. Of course this money comes from your income, but the problem with most of America is that we are using our income on debt payments.
Because we are paying others instead of ourselves, we need to get rid of our debt (Step 2) in order to free up our income for Steps 3-7.
âWhat if I could use all the money I am currently paying to creditors to start âpaying myselfâ?
For many people this is $1,000 to $3,000 a month.
Baby Step 2 debt snowball is designed to do just that. Step 1 is necessary before Step 2 because you donât want to start paying off debt without having a small cushion to absorb the little unplanned expenses that will occur during Step 2.
Step 3: 3 to 6 months of Savings
After completing the first two steps, you are out of debt (except for your house) and now have that cash flow you dreamed about: all of the money you used to pay others is at your disposal. The temptation is to start investing for retirement or saving for your kid’s college or pay off your house early.
NOT SO FAST! You will get to those, but doing so prematurely is way too risky.
Stop, take a deep breath and use that cash flow to build up your emergency fund so you will indeed be ready for emergencies. This fund needs to be liquid (in a top savings account or money market account).
If you skipped the step and started any of the ensuing steps, how would you handle emergencies? Pull money from your retirement account? Rob the kidâs college savings? Borrow money against your house? All bad ideas.
Step 3 is therefore always ahead of the following steps
Steps 4, 5, and 6: Saving for Retirement, College Funding, Pay Off Home
You may be asking,
âWhy is retirement ahead of college funding? Wouldnât a good parent put his children ahead of himself?â
Good question. But what if you end up without sufficient retirement income because you made college funding a higher priority? Who will you be depending on in your later years? Your kids!
The thing about retirement planning is that you only get one shot at it. The years go by and you will someday be retirement age. You donât have a choice. On the other hand, college funding is full of choices: kids can get scholarship, they can work, they can attend community colleges, they can find work/co-op programs, etc, etc.
Step 4 is therefore ahead of step 5. But notice that Step 4 is 15% of your income. If you have cash flow greater than 15% you can apply that to college funding immediately, and if you have more than enough cash flow to accomplish both steps 4 and 5, you can use all of the extra to pay off your house early (step 6).
Note that Step 6 comes behind retirement and college funding because reversing the order could possibly give you a paid for house at the expense of a dignified retirement or helping your kids through college. Most of us wouldnât want that.
Not sure where to start investing for retirement? Here are some tips:
- Best Places to Open a Roth IRA – Figuring out where to start investing your 15% of income can be confusing. A great place to start is a Roth IRA, but deciding a broker is confusing. This list will help you pick the best broker for your Roth IRA.
- Best Online Stock Broker Sign Up Bonuses – You can get hundreds of dollars or thousands of airline miles just for opening up a brokerage account.
- Beginner Investing Strategies – If you’ve never invested before it can be overwhelming. This list breaks down getting started into manageable pieces.
Step 7: Build wealth and give.
Life is now very good! You have no debt, a great emergency fund, and a paid for house. All of the cash flow that used to go toward debt reduction and house payments is now at your disposal.
This, by the way, is the step Mandy and I are on. Being semi-retired, we donât have a huge income, but it is very sufficient because we also donât have any debt. We continue to invest every month and we are able to give more than we have ever given before.
Once we got our house paid off, we started to budget âblessâ money, which we put into an envelope every month just to have available so we can bless others as we see the needs. We are also able to help our grown daughter and daughter-in-law cash flow their college.
As I said, life is good. Mandy and I are experiencing great financial peace and we are very grateful for Dave Ramseyâs Baby Steps.
I wish the same for you.
This article is a general overview of what Dave Ramsey has to offer and is not intended to replace his course, nor is this sponsored or endorsed by Dave Ramsey or the Lampo Group.
The post Dave Ramseyâs Baby Steps Explained appeared first on Good Financial CentsÂ®.