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Do You Qualify for Any of January’s Class-Action Settlements?

The New Year brings new opportunities to seek restitution for wrongs committed in previous months and even years. Take a look at this month’s list of class-action settlements to see if any of these offers will let you add some cha-ching to your pocket as you ring in 2021.

UnityPoint Health: Data Breach

Anyone who was affected by UnityPoint Health data breaches in 2017 and 2018 may be eligible for up to $7,000 plus a year of free credit monitoring and identity theft protection.

Also known as Iowa Health System, the lawsuit claims UnityPoint was hit by a data breach that began in November 2017. The multi-hospital delivery and health care system purportedly found the ongoing breach in February 2018, but failed to notify affected persons until April or even July of 2018.

The lawsuit alleges that more than 1 million names, addresses, phone numbers, billing information and health information were exposed, costing patients and consumers time and money to cancel credit cards and fight identity theft and fraud.

UnityPoint denied wrongdoing, but agreed to a $2.8 million settlement. UnityPoint Health said it contacted all affected consumers whose personal information was exposed during the 2017 and 2018 data breaches.

File your valid claim by March 2, 2021 to receive a year of free credit monitoring and up to $1,000 in “ordinary” expenses, including a maximum of three hours of time valued at $15 per hour and documented out-of-pocket expenses you incurred due to the data breaches, such as postage fees and internet charges. You also may claim up to $6,000 in “extraordinary” expenses related to identity theft or fraud caused by the data breaches, including false tax returns and interest on loans you had to take out because of canceling your credit card accounts.

Kalispell Regional Healthcare: Data Breach

You could be eligible for expense reimbursement, cash payments and free credit monitoring services as the result of a $4.2 million class-action settlement.

In October 2019, Kalispell Regional Healthcare notified patients that hackers were able to access employee email accounts and used those accounts to access the personal data of patients.

In response, a lawsuit alleged Kalispell didn’t do enough to protect against hackers. The company did not admit to any wrongdoing, but agreed to settle for $4.2 million.

Cyber thieves reportedly gained access to the following patient data:

  •     Names and addresses
  •     Medical record numbers
  •     Dates of birth
  •     Telephone numbers
  •     Email addresses
  •     Medical history and treatment information
  •     Dates of service
  •     Treating physicians
  •     Medical bill account numbers
  •     Health insurance information
  •     Social Security numbers

If you were notified by Kalispell Regional Healthcare that your personal information might have been compromised, you could be eligible for reimbursement of up to $15,000 in expenses related to the breach. You also may be eligible for up to five hours of time at the rate of $15 per hour.

In addition to reimbursement, you can choose between five years of Experian credit monitoring services valued at nearly $720 and an alternative cash payment of up to $100. Exact cash payment amounts will vary but will not exceed $100.

Claim forms are due by Feb. 25, 2021.

BMW: Failing Coolant Pump

If you owned or leased specific 2007 through 2019 models of BMW vehicles, you could claim up to $1,000 in reimbursements.

A class-action suit alleged the affected vehicles were equipped with electric coolant pumps that once they failed, caused engines to overheat, resulting in the need for expensive repairs. The lawsuit further alleged BMW knew of the problem but did not fix it or reimburse owners and lessees for resulting repairs.

Car owners and lessees may receive a maximum of $1,000 in out-of-pocket repair costs for parts and labor required to replace one failed electric engine coolant pump and a thermostat, if such replacement was needed within the first seven years or first 84,000 miles the vehicle was in service. In addition, BMW’s New Passenger Vehicle Limited Warranty may be extended to seven years or 84,000 miles.

BMW also will replace an electric coolant pump that fails for one year after the settlement becomes effective, no matter how old the vehicle is or how many miles it has on it.

We have the complete list of models covered and all the details you need to make a claim by the Feb. 18, 2021 deadline.

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Sports Research: Deceptive Supplement Labeling

If you bought Sports Research Corporation’s Premium MCT Oil products or Turmeric Curcumin C3 Complex products, you could be eligible for a portion of a settlement over allegations of deceptive labeling practices.

The premium-priced products that were labeled “packed with beneficial fats” and capable of fostering “natural” energy purportedly were falsely advertised. The MCT Oil merchandise contained 14 grams of saturated fat that did not allow it to be considered “healthy” as part of a diet. In addition, the “natural” energy supposedly induced by the use of raw coconut materials allegedly underwent processing.

The MCT Oil products were also promoted as containing antibacterial, anti-microbial and anti-viral properties, while the Turmeric Curcumin C3 products were marketed as anti-inflammatory products that provided antioxidant benefits.

If you bought Sports Research’s MCT Oil products or Turmeric Curcumin C3 products between Jan. 9, 2016 and Jan. 9, 2020, you could be eligible for either a $7 voucher to be used toward the purchase of any Sports Research product or $3 cash.

File your valid claim by Feb. 23, 2021 to receive your healthy dose of restitution.

A woman looks perplexed as she looks at her laptop screen.

Chime Digital Bank Service Disruption

Were you unable to access your Chime deposit account between Oct. 16-19, 2019 because of a service disruption? If so, you could be eligible for a portion of a $1.5 million class-action settlement.

The intermittent outage lasted for several days, according to the lawsuit, which resulted in late bill payments and disrupted purchases. The suit also says Chime failed to warn users of the outage and only communicated via Twitter.

Chime did not admit to any wrongdoing, but agreed to the class action settlement.

Compensation is divided into two tiers. Tier one allows consumers who suffered a loss due to the service disruption to receive a cash payment up to $25 with no proof of such loss. Tier two provides payments up to $750 for those who can provide documentation.

We have all the details and how to file your claim by the Feb. 15, 2021 deadline.

BMW: Defective Timing Chain

Former owners and lessees of certain 2012 to 2015 models of BMW vehicles could be eligible for reimbursement for allegedly defective timing chain components.

A lawsuit that alleged certain BMWs equipped with N20 and N26 engines were prone to experiencing damage and needing costly repairs because of defective timing chains.

BMW owners and lessees may qualify for either a reimbursement program or a prospective repair program.

The reimbursement program provides between 40% and 100% reimbursement for vehicle repairs depending on the mileage at the time of service. No cap exists for repair reimbursement if the repairs were completed at a BMW center. However, repairs done at an independent service center are capped at $3,000 for timing chain modules and oil pump drive chain modules and at $7,500 for engines.

A separate program provides reimbursement for future repairs. Some of these claims will be covered under vehicles’ existing warranties while others will be reimbursed for between 40% and 75% of the total repair costs. Vehicles must be taken to a BMW center.

Expenses are only eligible for reimbursement if the damage was caused by failure of the timing chain or oil pump drive chain modules. Vehicles that have over 100,000 miles or have been in service for over eight years are not eligible.

Check out the details, the list of covered vehicles, and the claim form that must be submitted by the estimated deadline of March 18, 2021.

Navy Federal Credit Union: Unfair NSF Fees

Navy Federal Credit Union has agreed to a $16 million settlement over allegations it charged unfair non-sufficient funds (NSF) fees to its customers.

Navy Federal customers who were charged two or three NSF fees on one transaction between Jan. 28, 2014 and Oct. 27, 2020 may be eligible for cash payments or account credits.

Multiple fees purportedly were incurred when a merchant presented a transaction for payment several times after an initial rejection. With each attempt, Navy Federal allegedly tried to process the payments again, which resulted in an additional NSF fee. This practice of charging the additional NSF fees violated Navy Federal’s own terms of its agreements, according to the suit.

Exact awards will depend upon the number of NSF fees charged and the number of customers who agree to participate in the settlement.

No claim form is required because cash payments or account credits automatically will be distributed, but you have until Feb. 24, 2021 to object to the settlement or to ask to be excluded from it.

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

Source: thepennyhoarder.com

Financial Scams That Target the Elderly and How to Prevent Them

financial scam targets elderly

A 2015 study found that older adults lose more than $36 billion every year to financial scams. Unfortunately, con artists see the elderly population as an easy and vulnerable target.

The American Securities Administrators Association’s President, Mike Rothman, explains that scammers take this approach because the current elderly population is one of the wealthiest we’ve seen with such hefty retirement savings. Where the money goes, the con artists follow.

With so many scams targeting older adults, it’s essential to make yourself and your loved ones aware of the different types of cons. Here is a list of common financial scams that specifically target the elderly and how you can prevent them:

The Grandparent Scam

The grandparent scam is common because it appeals to older adults’ emotions. Scammers get the phone number of a senior and they call pretending to be a grandchild. Making their lie seem more believable, the con artist will playfully ask the older adult to guess what grandchild is calling. Of course, the first reaction will most likely be for the senior to name a grandchild and then the scammer can easily play along, acting like they guessed right. Now the grandparent thinks they are talking to their grandchild.

The scam artist will then begin to confide in the grandparent, saying they are in a tough financial position and they need the grandparent’s help. Asking them to send money to a Western Union or MoneyGram, they plead for the grandparent not to tell anyone. If the grandparent complies and sends the money, the scammer will likely contact the senior again and ask for more money.

Avoid this scam:

  • Never send money to anyone unless you have 100 percent proof that it is who you think it is. Scammers can find out quite a bit of information from social media and other methods, so don’t think that just because they know a couple pieces of information about you and your family that it is legit.
  • Verify that it is actually your grandchild on the phone by texting or calling the grandchild’s real phone number and verifying if it is him or her.
  • Call the parent of the supposed grandchild and find out if the grandchild really is in trouble.
  • Talk to your family members now and compile a list of questions only you and your family know the answers to. If a family emergency really does happen, you can ask the questions and know if it is your family member based on the answers.

“Claim Your Prize Now!” Sweepstakes Scam

The sweepstakes scam is when con artists contact the elderly either by phone or email and tell them they have won something, whether that be a sum of money or another type of prize. To claim the prize, scammers tell them they have to pay a fee. Once the senior agrees, scammers send a fake check in the mail. Before the check doesn’t clear and seniors can realize it is a scam, they have already paid the “fee.”

Avoid this scam:

  • Do not give out any financial information over the phone or email.
  • Practice Internet safety by protecting your passwords, shopping on encrypted websites, and avoiding phony emails.
  • Be skeptical of any message that says you have randomly won a prize and you must do something before you can claim it. Unless you specifically enter a contest, you most likely aren’t going to randomly win a monetary prize.

Medicare Scam

Because of the Affordable Care Act that allows seniors over the age of 65 to qualify for Medicare, scam artists don’t have to do much research about seniors’ healthcare providers. This makes it simple for scammers to call, email, or even visit seniors’ homes personally and claim to be a Medicare representative.

 

There are a variety of ways these con artists use this Medicare scam to target the elderly. One way is telling seniors they need a new Medicare card and to do so, they need to tell the “Medicare representative” what their Social Security number is. An additional way is they can tell seniors there is a fee they need to pay to continue their benefits.

Avoid this scam:

  • Do not give out any information to someone you have not verified is from Medicare. Real Medicare employees should have your information on file so if you are skeptical, ask the person some questions to verify it is legitimate.

The “Woodchuck” Scam

A common scam to target seniors who live alone is the “woodchuck” scam. Scam artists will claim to be contractors and will complete house projects if seniors agree to let them.

The scammers will gain seniors’ trust and eventually come up with a variety of fake repairs that need to be done, such as a roof repair. This often results in seniors giving the fake contractors thousands of dollars.

 Avoid this scam:

  • Make sure the person doing your home repairs is a professional. Find out what company they work for and call and verify they are indeed a legitimate contractor.

Mortgage Scam

Con artists are using senior homeownership to their benefit. The mortgage scam is when scammers offer a property assessment to seniors, telling them they can determine the value of their home. This scam has become increasing popular as housing confidence is hitting record highs and people are putting a large chunk of their income towards saving for new homes.

The scam artists make the process look legitimate by finding the home’s information on the Internet and sending seniors an official letter detailing all of the found information. The scammers do this because it is an easy way to con seniors into paying a fee for the requested information.

 Avoid this scam:

  • Ensure the property assessment is legitimate by asking what company they work for and following up with the real company to verify.

Talk to Your Loved Ones

Older adults are often too embarrassed to tell authorities or a family member they have been scammed. Talk to the seniors in your life and let them know they can confide in you and let you know if they have been scammed. You can also have them read through this article and make themselves aware of the scams that could potentially target them in the future.

Check Your Credit Regularly

Check your credit regularly so you are aware of any suspicious activity with your accounts. You can check your credit for free on Credit.com and receive a free credit score updated every 14 days along with a credit report card, which is a summary of what is on your credit reports.

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The post Financial Scams That Target the Elderly and How to Prevent Them appeared first on Credit.com.

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How to Dine Al Fresco Year-Round: 7 Outdoor Kitchen Design Tips for 2021

outdoor kitchenbrizmaker/Getty Images

The coronavirus pandemic has brought about a new appreciation of backyards and other outdoor spaces. With many of us spending hours and hours at home, we’re all looking for places to relax other than the living room sofa and kitchen. If you have a yard with ample space for you and your family, consider yourself blessed.

But in 2021, outdoor space owners might want to consider taking it up a notch with one of the most sought-after features: an outdoor kitchen.

“I looked at this as an investment our family would enjoy for the next 20-plus years,” says lifestyle expert Evette Rios, who recently embarked on her own outdoor kitchen project.

For people who dream of spending even more time cooking outside and enjoying their backyard, an outdoor kitchen is a must. And now’s the time to get to work to ensure your kitchen is ready when the warm, sunny days arrive.

Take a look at the tips below from experts who have successfully completed outdoor kitchen projects of their own.

1. Set a budget

Outdoor kitchens are not a cheap investment, but the price range is really broad. The cost of an outdoor kitchen ranges from $5,406 to $21,699, according to HomeAdvisor.com. Therefore, there are many ways to tailor your kitchen to your budget.

That being said, you should always prioritize durable materials in an outdoor kitchen.

“Interior furnishings afford a bit more leeway on where you splurge and save,” says HGTV star Laurie March. “But for outdoor kitchens and living spaces, performance and durability—when it comes to cabinetry and appliances—will always be worth it.”

2. Seek out American-made products

Photo by Brown Jordan Outdoor Kitchens

March says COVID-19 has caused major global supply chain interruptions, which has made acquiring building materials and appliances difficult. But sourcing for your outdoor kitchen might be easier if you opt for American-made products.

“I selected Brown Jordan Outdoor Kitchens, which are manufactured in Connecticut. It made the process so much easier,” says March.

She says it wasn’t only about convenience, but also craftsmanship, quality, and the company’s established history.

3. Order appliances early in the planning process

Appliances are what will make your outdoor kitchen shine. But you’ll want to order them sooner rather than later because some companies have long lead times or backordered items.

March advises finalizing appliance picks first and ordering as quickly as possible.

“It’s easier to store them until you’re ready to install rather than have to wait for them to arrive, which can add substantial time to your project,” she says.

4. Design with four seasons in mind

Photo by Chicago Green Design Inc.

Rios highly recommends designing your outdoor kitchen for year-round enjoyment. For example, in her outdoor kitchen, she knew she wanted durable, high-quality cabinets to keep contents dry even in rain or high humidity.

“Heating elements in different zones of the outdoor space are also crucial,” says Rios. “In the kitchen, our pizza oven helps keep us warm during food prep, and the fire pit is a cozy spot for guests to gather.”

If you have a covered outdoor space, she recommends planning and budgeting for ceiling-mounted heat lamps, or invest in one or two free-standing, mobile heating units.

5. Find the right people for the job

March says homeowners should do their homework and hire the right professionals to guide them through their vision, flag any potential pitfalls, and elevate the overall aesthetic.

“For me, bringing a landscape designer onboard brought the whole vision for our outdoor kitchen and yard together,” says March.

Rios says it’s also important to lock in a trusted contractor and installer to ensure the vision and layout for your outdoor kitchen is doable and within your budget.

6. Have fun with color

Photo by DeGoey Designs

Rios says an outdoor kitchen is the perfect space to have fun with color, whether taking cues from the surrounding landscape or going bright and bold.

“Blues and greens can so easily play off of surrounding elements outdoors. I’m over the all-white kitchen, and I think outdoor kitchens are the perfect opportunity to embrace brighter hues,” says Rios, who used a beautiful juniper-green, powder-coat finish on her outdoor kitchen cabinetry.

7. Design based on how you’ll use your space

“Asking yourself the right questions as you think through design options can provide a lot of helpful guidance,” says March. “How do you want to live outdoors? What’s not working with your current or past space, and how could it rise up to meet you a bit better?”

She says it’s also important to consider who’s going to use the outdoor kitchen space. Does it need to be wheelchair-accessible or suitable for pets and kids?

“These details will dictate so much of your design,” says March.

For her space, she envisioned how it could pivot from a space to cook to a space to entertain. The big, open shelf she installed, for example, serves as additional landing space for items she brings out from the indoor kitchen.

The post How to Dine Al Fresco Year-Round: 7 Outdoor Kitchen Design Tips for 2021 appeared first on Real Estate News & Insights | realtor.com®.

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How to Build Good Credit in 10 Painless Steps

If you want to whip your finances into shape, here’s a good New Year’s resolution: improving your credit score.

A lot of New Year’s resolutions fail because they’re so extreme. Think of all the bonkers weight-loss and money-saving goals that surface at the start of every year.

This resolution is different. No extreme measures are required. But there aren’t any shortcuts. Building good credit is a goal you need to commit to 12 months a year.

How to Build Good Credit in 10 Steps

Ready to make 2021 the year you finally prove your creditworthiness? Or are you looking to recover from a 2020 setback? Here’s how to build good credit in 10 steps.

1. Stay on Top of Your Credit Reports

It’s essential to monitor your credit reports, especially if you received a hardship agreement from a lender due to COVID-19. Under the CARES Act rules, lenders are supposed to report your account as paid in full while the agreement is in effect, as long as you weren’t already delinquent. But mistakes happen. Even in normal times, about 1 in 5 credit reports contained inaccurate information.

Through April 2021, you can get one free credit report per week from each bureau. (Typically, you’re only entitled to one free credit report per year from each bureau.) Make sure you access your reports at AnnualCreditReport.com, rather than one of the many websites that offer “free” credit scores but will make you put down your credit card number to sign up for a trial. File a dispute with the bureaus if you find anything you think is inaccurate or any accounts you don’t recognize.

Your credit reports won’t show you your credit score, but you can use a free credit-monitoring service to check your score. (No, checking your own credit doesn’t hurt your score.) Many banks and credit card companies also give you your credit scores for free.

Pro Tip

If the bureaus agree to remove information from your credit reports, expect to wait about 30 days until your reports are updated.

2. Pay Your Bills. On Time. Every Single Month

Yeah, you knew we were going to say this: Paying your bills on time is the No. 1 thing you can do to build good credit. Your payment history determines 35% of your score, more than any other credit factor.

Set whatever bills you can to autopay for at least the minimums to avoid missing payments. You can always pay extra if you can afford it.

A strong payment history takes time to build. If you’ve made late payments, they’ll stay on your credit reports for seven years. The good news is, they do the most damage to your score in the first two years. After that, the impact starts to fade.

3. Establish Credit, Even if You’ve Made Mistakes

You typically need a credit card or loan to build a credit history. (Sorry, but all those on-time rent and utility payments are rarely reported to the credit bureaus, so they won’t help your score.)

But if you have bad credit or you’re a credit newbie, getting approved for a credit card or loan is tough. Look for cards that are specifically marketed to help people start or rebuild credit. Store credit cards, which only let you make purchases at a specific retailer, can also be a good option.

4. Open a Secured Card if You Don’t Qualify for a Regular Card

Opening a secured credit card is one of our favorite ways to build a positive history when you can’t get approved for a regular credit card or loan. You put down a refundable deposit, and that becomes your line of credit.

After about a year of making your payments on time, you’ll typically qualify for an unsecured line of credit. Just make sure the card issuer you choose reports your payments to the credit bureaus. Look for a card with an annual fee of no more than $35. Some secured card options we like (and no, we’re not getting paid to say this):

  • Discover it Secured
  • OpenSky Secured Visa Card
  • Secured Mastercard from Capital One
A woman checks her credit card balance while on the phone.

5. Ask for a Limit Increase. Pretend You Never Got It

Increasing your credit limits helps your score because it decreases your credit utilization ratio. That’s credit score speak for the percentage of credit you’re using. The standard recommendation is to keep this number below 30%, but really, the closer to zero the better.

If you have open credit, ask your current creditors for an increase, rather than applying for new credit. That way, you’ll avoid lowering your length of credit, which could ding your score.

The downside of a higher credit limit: You’ll have more money to spend that isn’t really yours. To get the biggest credit score boost from a limit increase and avoid paying more in interest, make sure you don’t add to your balance.

Pro Tip

Don’t believe the myth that carrying a small credit card balance helps your credit score. Paying off your balance in full each month is best for your score, plus it saves you money on interest.

6. Prioritize Credit Card Debt Over Loans

Tackling credit card debt helps your credit score a lot more than paying down other debts, like a student loan or mortgage. The reason? Your credit utilization ratio is determined exclusively by your lines of credit.

Bonus: Paying off credit card debt first will typically save you money, because credit cards tend to have higher interest rates than other types of debt.

7. Keep Your Old Accounts Active

Provided you aren’t paying ridiculous fees, keep your credit card accounts open once you’ve paid off the balance. Credit scoring methods reward you for having a long credit history.

Make a purchase at least once every three months on the account, as credit card companies often close inactive accounts. Then pay it off in full.

8. Apply for New Credit Selectively

When you apply for credit, it results in a hard inquiry, which usually drops your score by a few points. So avoid applying frequently for new credit cards, as this can signal financial distress.

But if you’re in the market for a mortgage or loan, don’t worry about multiple inquiries. As long as you limit your shopping to a 45-day window, credit bureaus will treat it as a single inquiry, so the impact on your score will be minimal.

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9. Still Overwhelmed? A Debt Consolidation Loan Could Help

If you’re struggling with credit card debt, consolidating your credit card debt with a loan could be a good option. In a nutshell, you take out a loan to wipe out your credit card balances.

You’ll get the simplicity of a single payment, plus you’ll typically pay less interest since loan interest rates tend to be lower. (If you can’t get a loan that lowers your interest rate, this probably isn’t a good option.)

By using a loan to pay off your credit cards, you’ll also free up credit and lower your credit utilization ratio.

Many debt consolidation loans require a credit score of about 620. If your score falls below this threshold, work on improving your score for a few months before you apply for one.

10. Keep Your Credit Score in Perspective

All the credit-monitoring tools out there make it easy to obsess about your credit score. While it’s important to build good credit, look at the bigger picture. A few final thoughts:

  • Your credit score isn’t a report card on the state of your finances. It simply measures how risky of a borrower you are. Having an emergency fund, saving for retirement and earning a decent living are all important to your finances — but these are all things that don’t affect your credit score.
  • Lenders look at more than your credit score. Having a low debt-to-income ratio, decent down payment and steady paycheck all increase your odds of approval when you’re making a big purchase, even if your credit score is lackluster.
  • Don’t focus on your score if you can’t pay for necessities. If you’re struggling and you have to choose between paying your credit card vs. paying your rent, keeping food on the table or getting medical care, paying your credit card is always the lower priority. Of course, talk to your creditors if you can’t afford to pay them, as they may have options.

Focus on your overall financial picture, and you’ll probably see your credit score improve, too. Remember, though, that while credit scores matter, you matter more.

Now go crush those goals in 2021 and beyond.

Robin Hartill is a certified financial planner and a senior editor at The Penny Hoarder. She writes the Dear Penny personal finance advice column. Send your tricky money questions to DearPenny@thepennyhoarder.com.

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

Source: thepennyhoarder.com

How to Make Better Financial Decisions

Woman learning how to make better financial decisions

A key financial decision people struggle to make is how to allocate savings for multiple financial goals. Do you save for several goals at the same time or fund them one-by-one in a series of steps? Basically, there are two ways to approach financial goal-setting:

Concurrently: Saving for two or more financial goals at the same time.

Sequentially: Saving for one financial goal at a time in a series of steps.

Each method has its pros and cons. Here’s how to decide which method is best for you.

Sequential goal-setting

Pros

You can focus intensely on one goal at a time and feel a sense of completion when each goal is achieved. It’s also simpler to set up and manage single-goal savings than plans for multiple goals. You only need to set up and manage one account.

Cons

Compound interest is not retroactive. If it takes up to a decade to get around to long-term savings goals (e.g., funding a retirement savings plan), that’s time that interest is not earned.

Concurrent goal-setting

Pros

Compound interest is not delayed on savings for goals that come later in life. The earlier money is set aside, the longer it can grow. Based on the Rule of 72, you can double a sum of money in nine years with an 8 percent average return. The earliest years of savings toward long-term goals are the most powerful ones.

Cons

Funding multiple financial goals is more complex than single-tasking. Income needs to be earmarked separately for each goal and often placed in different accounts. In addition, it will probably take longer to complete any one goal because savings is being placed in multiple locations.

Research findings

Working with Wise Bread to recruit respondents, I conducted a study of financial goal-setting decisions with four colleagues that was recently published in the Journal of Personal Finance. The target audience was young adults with 69 percent of the sample under age 45. Four key financial decisions were explored: financial goals, homeownership, retirement planning, and student loans.

Results indicated that many respondents were sequencing financial priorities, instead of funding them simultaneously, and delaying homeownership and retirement savings. Three-word phrases like “once I have…,", “after I [action],” and “as soon as…,” were noted frequently, indicating a hesitancy to fund certain financial goals until achieving others.

The top three financial goals reported by 1,538 respondents were saving for something, buying something, and reducing debt. About a third (32 percent) of the sample had outstanding student loan balances at the time of data collection and student loan debt had a major impact on respondents’ financial decisions. About three-quarters of the sample said loan debt affected both housing choices and retirement savings.

Actionable steps

Based on the findings from the study mentioned above, here are five ways to make better financial decisions.

1. Consider concurrent financial planning

Rethink the practice of completing financial goals one at a time. Concurrent goal-setting will maximize the awesome power of compound interest and prevent the frequently-reported survey result of having the completion date for one goal determine the start date to save for others.

2. Increase positive financial actions

Do more of anything positive that you’re already doing to better your personal finances. For example, if you’re saving 3 percent of your income in a SEP-IRA (if self-employed) or 401(k) or 403(b) employer retirement savings plan, decide to increase savings to 4 percent or 5 percent.

3. Decrease negative financial habits

Decide to stop (or at least reduce) costly actions that are counterproductive to building financial security. Everyone has their own culprits. Key criteria for consideration are potential cost savings, health impacts, and personal enjoyment.

4. Save something for retirement

Almost 40 percent of the respondents were saving nothing for retirement, which is sobering. The actions that people take (or do not take) today affect their future selves. Any savings is better than no savings and even modest amounts like $100 a month add up over time.

5. Run some financial calculations

Use an online calculator to set financial goals and make plans to achieve them. Planning increases people’s sense of control over their finances and motivation to save. Useful tools are available from FINRA and Practical Money Skills.

What’s the best way to save money for financial goals? It depends. In the end, the most important thing is that you’re taking positive action. Weigh the pros and cons of concurrent and sequential goal-setting strategies and personal preferences, and follow a regular savings strategy that works for you. Every small step matters!

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Want to know how to allocate savings for your financial goals? We’ve got the tips on how to make financial decisions so you can be confident in your personal finance! | #moneymatters #personalfinance #moneytips


Source: feeds.killeraces.com

How to Work from Home While Schooling Your Kids

Parents all over the United States have had to make lofty and quick adjustments due to the pandemic erupting the daily routines many of us haven’t had to change in quite a while. Feelings of overwhelm, exhaustion, and sheer confusion have consumed many; leaving the evergreen thoughts about how to best accommodate our children while simultaneously completing remote work effectively. If you have been struggling with finding a balance or could use some extra pointers to smooth out this process; see the tips below and breathe a little easier knowing there’s additional help available. 

Wake up at least an hour earlier 

I know, this is probably the last thing you wanted to hear fresh out of the gate. However, take this into consideration – you can use this uninterrupted time to knock out some tasks, enjoy your cup of coffee or breakfast before the day truly begins. Rushing (especially in the mornings) tends to set a precedence for the day, causing your mind and body to believe that a pace of hurriedness is expected; generating feelings of burnout very easily. Crankiness, low engagement, and minimal productivity doesn’t serve you, your work, or your children well. Use this solo time to still your thoughts so you are able to be fully present for all things the day holds. While this may take some time to get used to initially, you’ll thank yourself when you have the energy to handle any and everything! 

Set and abide by a clear routine 

Comparing your child’s school schedule in conjunction with your personal work obligations very clearly can showcase what needs to get done and when. Reviewing this every evening beforehand or once a week with your children creates new, positive habits that become easier to follow over time. Not only does this mimic physical in-school setting, but it also generates responsibility and a sense of accomplishment for your little ones. If necessary, communicate with your manager if there are time periods you need to be more present to assist your children with any assignments. 

Designate ‘do not disturb’ time periods 

Depending on your work demands, there are conference calls and online meetings that may have to happen while the kids are completing their individual assignments or classroom time. To make sure everyone fulfills their tasks with minimal interruptions, create time periods that are dedicated to completing the more complex tasks that require a more intense level of focus. To avoid any hiccups, give some leeway before the blocked time to address any questions or concerns. While this doesn’t guarantee that nothing else arises, it establishes peace of mind so that your thoughts can be directed to the tasks that lie ahead.    

Plan out all meals for the week

If meal prepping wasn’t your thing before, it definitely should be now. Having lunch and/or dinner already prepared not only saves you time (which is a necessity) but also helps to normalize the growing grocery bill that seems never-ending. Planning not only avoids confusion and lengthy food conversations, but it also sets a routine the entire family can abide by. Easy food items such as tacos, burrito bowls, sandwiches, and an assortment of fruit provide a healthy balance – while avoiding ordering fast food or takeout multiple times a week.  

Establish a ‘lessons learned’ list 

Similar to an end of year job evaluation, you and your family can take a personal inventory of the things that have worked effectively – while taking note of the things that didn’t. At the end of every week have a very candid conversation with your children. Ask them what worked for their schooling and also self-assess the positives during your remote work. Remember to keep an open mind! Instead of automatically responding with frustration, consider how much of an adjustment this is for kids. They’re accustomed to a multitude of settings and environments, which develops their reasoning and comprehension skills. If they identify something was less than satisfactory, ask what can be done (within reason) to improve their new learning environment. These notes can take place on sticky notes, a large whiteboard, or a simple notepad. This doesn’t have to be a serious sit-down conversation; it can almost be presented as a game. Keeping track of these items will help you all make tweaks as necessary while finding a solid sweet spot.  

Give yourself (and your children) grace 

Life as we knew it switched in the blink of an eye. The busyness of going into the office, dropping the kids off at school, and shuffling them to extracurricular activities stopped more abruptly than any of us could have imagined. As we all know but don’t like to admit, every day isn’t a good day. There are many nuances that happen throughout the course of time that can derail our plans, leaving us to feel defeated. But before going off to the deep end, remember this – every day serves as a chance to start over. If the food wasn’t prepared ahead of time it’s okay. If the workday didn’t go as smoothly as expected, it’s quite alright. Take a deep breath and remember we are all doing the best we can with what we currently have. Learning to navigate new waters such as this is only achieved through trial and error.   

Celebrate the small wins 

Let’s face it – this is new for all of us! While online learning and remote work have been in place for more than a few months, we have to grant ourselves grace. So, if you haven’t already – give yourself and your children a pat on the back! Plan safe outings you and your family can enjoy such as picnics, movie nights, or any outdoor activities. Getting some fresh air for at least 30 minutes during the day can help boost productivity and the moods of you and your children! Each week may not be easy, but it is rewarding to know that the effort you’ve put forth as a parent is a positive contribution to your family.   

One question that we all need to ask ourselves is-will we ever gain this amount of time with our families again? Let’s embrace this moment with learning and lasting memories.  

The post How to Work from Home While Schooling Your Kids 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 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:

  1. VIPKID
  2. Qkids
  3. 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:

  1. You apply here to become a Course Hero tutor
  2. When you are available to answer questions, you do so on the Course Hero website
  3. 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:

  1. American Consumer Opinion
  2. Survey Junkie
  3. Swagbucks
  4. InboxDollars
  5. Opinion Outpost
  6. OneOpinion
  7. Pinecone Research
  8. Prize Rebel
  9. Product Report Card
  10. 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

A Guide to Schedule K-1 (Form 1041)

Man prepares his tax returnsInheriting property or other assets typically involves filing the appropriate tax forms with the IRS. Schedule K-1 (Form 1041) is used to report a beneficiary’s share of an estate or trust, including income as well as credits, deductions and profits. A K-1 tax form inheritance statement must be sent out to beneficiaries at the end of the year. If you’re the beneficiary of an estate or trust, it’s important to understand what to do with this form if you receive one and what it can mean for your tax filing.

Schedule K-1 (Form 1041), Explained

Schedule K-1 (Form 1041) is an official IRS form that’s used to report a beneficiary’s share of income, deductions and credits from an estate or trust. It’s full name is “Beneficiary’s Share of Income, Deductions, Credits, etc.” The estate or trust is responsible for filing Schedule K-1 for each listed beneficiary with the IRS. And if you’re a beneficiary, you also have to receive a copy of this form.

This form is required when an estate or trust is passing tax obligations on to one or more beneficiaries. For example, if a trust holds income-producing assets such as real estate, then it may be necessary for the trustee to file Schedule K-1 for each listed beneficiary.

Whether it’s necessary to do so or not depends on the amount of income the estate generates and the residency status of the estate’s beneficiaries. If the annual gross income from the estate is less than $600, then the estate isn’t required to file Schedule K-1 tax forms for beneficiaries. On the other hand, this form has to be filed if the beneficiary is a nonresident alien, regardless of how much or how little income is reported.

Contents of Schedule K-1 Tax Form Inheritance Statements

The form itself is fairly simple, consisting of a single page with three parts. Part one records information about the estate or trust, including its name, employer identification number and the name and address of the fiduciary in charge of handling the disposition of the estate. Part Two includes the beneficiary’s name and address, along with a box to designate them as a domestic or foreign resident.

Part Three covers the beneficiary’s share of current year income, deductions and credits. That includes all of the following:

  • Interest income
  • Ordinary dividends
  • Qualified dividends
  • Net short-term capital gains
  • Net long-term capital gains
  • Unrecaptured Section 1250 gains
  • Other portfolio and nonbusiness income
  • Ordinary business income
  • Net rental real estate income
  • Other rental income
  • Directly apportioned deductions
  • Estate tax deductions
  • Final year deductions
  • Alternative minimum tax deductions
  • Credits and credit recapture

If you receive a completed Schedule K-1 (Form 1041) you can then use it to complete your Form 1040 Individual Tax Return to report any income, deductions or credits associated with inheriting assets from the estate or trust.

You wouldn’t, however, have to include a copy of this form when you file your tax return unless backup withholding was reported in Box 13, Code B. The fiduciary will send a copy to the IRS on your behalf. But you would want to keep a copy of your Schedule K-1 on hand in case there are any questions raised later about the accuracy of income, deductions or credits being reported.

Estate Income and Beneficiary Taxation

Woman prepares her tax returns

If you received a Schedule K-1 tax form, inheritance tax rules determine how much tax you’ll owe on the income from the estate. Since the estate is a pass-through entity, you’re responsible for paying income tax on the income that’s generated. The upside is that when you report amounts from Schedule K-1 on your individual tax return, you can benefit from lower tax rates for qualified dividends. And if there’s income from the estate that hasn’t been distributed or reported on Schedule K-1, then the trust or estate would be responsible for paying income tax on it instead of you.

In terms of deductions or credits that can help reduce your tax liability for income inherited from an estate, those can include things like:

  • Depreciation
  • Depletion allocations
  • Amortization
  • Estate tax deduction
  • Short-term capital losses
  • Long-term capital losses
  • Net operating losses
  • Credit for estimated taxes

Again, the fiduciary who’s completing the Schedule K-1 for each trust beneficiary should complete all of this information. But it’s important to check the information that’s included against what you have in your own records to make sure that it’s correct. If there’s an error in reporting income, deductions or credits and you use that inaccurate information to complete your tax return, you could end up paying too much or too little in taxes as a result.

If you think the information in your Schedule K-1 (Form 1041) is incorrect, you can contact the fiduciary to request an amended form. If you’ve already filed your taxes using the original form, you’d then have to file an amended return with the updated information.

Schedule K-1 Tax Form for Inheritance vs. Schedule K-1 (Form 1065)

Schedule K-1 can refer to more than one type of tax form and it’s important to understand how they differ. While Schedule K-1 (Form 1041) is used to report information related to an estate or trust’s beneficiaries, you may also receive a Schedule K-1 (Form 1065) if you run a business that’s set up as a pass-through entity.

Specifically, this type of Schedule K-1 form is used to record income, losses, credits and deductions related to the activities of an S-corporation, partnership or limited liability company (LLC). A Schedule K-1 (Form 1065) shows your share of business income and losses.

It’s possible that you could receive both types of Schedule K-1 forms in the same tax year if you run a pass-through business and you’re the beneficiary of an estate. If you’re confused about how to report the income, deductions, credits and other information from either one on your tax return, it may be helpful to get guidance from a tax professional.

The Bottom Line

Senior citizen prepares her tax returnsReceiving a Schedule K-1 tax form is something you should be prepared for if you’re the beneficiary of an estate or trust. Again, whether you will receive one of these forms depends on whether you’re a resident or nonresident alien and the amount of income the trust or estate generates. Talking to an estate planning attorney can offer more insight into how estate income is taxed as you plan a strategy for managing an inheritance.

Tips for Estate Planning

  • Consider talking to a financial advisor about the financial implications of inheriting assets. If you don’t have a financial advisor yet, finding one doesn’t have to be complicated. SmartAsset’s financial advisor matching tool can help you connect with professional advisors in your local area in minutes. If you’re ready, get started now.
  • One way to make the job of filing taxes easier is with a free, easy-to-use tax return calculator. Also, creating a trust is something you might consider as part of your own estate plan if you have significant assets you want to pass on.

Photo credit: ©iStock.com/fizkes, ©iStock.com/urbazon, ©iStock.com/dragana991

The post A Guide to Schedule K-1 (Form 1041) appeared first on SmartAsset Blog.

Source: smartasset.com

How Microlearning Can Level Up Your Knowledge

If you’re looking to advance your career or pivot to a new industry, then you’re probably checking out ways you can beef up your resume. Maybe you’re considering an MBA, a bootcamp, or browsing upcoming conferences. Or perhaps you’re considering the DIY route and looking for podcast and book recommendations. 

While any of these options will help you learn and could boost your resume, the best way to level up your career prospects is to dedicate yourself to becoming a lifelong learner, which is where microlearning comes into play. 

Conferences and classes are bursting with information, but you may feel limited by the course schedule and teaching style. This works for some people, but it can be expensive and hard to fit into a budget or daily schedule. Microlearning can help you take charge of your education by providing bite-sized lessons. Over time, you can build up your learnings for a more thorough and robust understanding of the subject. 

The best part is you can apply your specific lessons to your life, career, and goals to build each of these out over time and see what really works and what doesn’t. Your consistent growth can improve job satisfaction and career opportunities, putting you in the spotlight for the next raise or promotion. Learn more below or jump to our infographic to get started.

What Is Microlearning?

Microlearning has become a popular workplace trend as a learning process that breaks topics into highly specific, concise lessons. This allows the learner to build understanding and confidence at their own pace.

Microlearning is great for tackling new information and closing knowledge gaps. If you already have a foundation of knowledge for a topic, then it can be frustrating to wade through the basics for the few new ideas you were looking for. Khan Academy and TED Talks are a great example of how you may fill in knowledge gaps. 

The Benefits of Microlearning

The most important part of any lesson plan is that it’s tailored to a learner’s needs, and that the learner is actually able to retain information. Microlearning’s flexibility for learners is one of its biggest benefits.

illustration highlighting the benefits of microlearning

Here are some other reasons to consider microlearning:

  • Maximize time by preparing lessons for on-the-go and fitting them in during breaks or commutes.
  • Go in-depth to build a solid learning foundation and improve retention with practice. 
  • Find what works by experimenting with videos, articles, or podcasts to find what format works best for you. 
  • Save money with free resources like TED Talks, YouTube, and expert podcast hosts who provide episodic insights and lessons for you to follow. 
  • Fill knowledge gaps with lessons targeting exactly what you need to know instead of wading through beginner resources. 

The Disadvantages of Microlearning

Microlearning is great for career development, employee training, and specific topics that you could use a refresher on. However, they’re not a total replacement for other learning systems, and you should keep these in mind when you get started:

  • It’s not immediate and microlearning is about regular commitments to learning.
  • It isn’t easier, but it may feel easier. This is actually a benefit unless you assume it will be easy. You still have to actively learn and practice your lessons. 
  • Some topics just don’t work, including complicated topics like global economics. It’s great for learning about things like mortgages, but you likely won’t become an expert on personal finance in just a few lessons. 
  • There’s work upfront to finding and compiling the resources that fit your needs and that you trust. This work pays off in the long-run, though, with easy-to-access lessons. 

5 Ways to Begin Microlearning

You may not realize it, but you’ve probably already prioritized microlearning in your day-to-day life. If you’ve watched a YouTube video to learn how to change your oil or customize a spreadsheet, then you know exactly how beneficial short, specific, and detailed lessons can be. 

89% of employees feel more productive when their work is gamified with rewards

Here are some ways you can get started using microlearning as part of your professional development:

1. Game Groups

Gamifying your learning helps make the topic fun and builds a positive relationship with studying. You can get started by setting goals and rewards, or inviting peers to join you with a competitive leaderboard or a trivia night. 

2. Video Clips

Videos are designed to be relatively short and engaging, and YouTube has made learning largely accessible from anywhere. While YouTube playlists are a great place to learn, make sure you’ve done your research on any channels or personalities you’re watching to ensure your lessons are accurate. 

3. Podcast Playlists

Like videos, podcasts are a great way to consume information on the go and from personalities you enjoy and trust. They’ve become hugely popular because they’re easy to listen to while driving, working, or exercising, but it’s important that you give your playlist your active attention if you hope to learn effectively. 

4. Quiz Collections

Considering a quiz may bring flashbacks of test anxiety and stressful finals weeks, but in this scenario, quizzing isn’t about checking a box that you learned something new. Instead, it’s a means to practice your memory recall and retention so you can count on it when you need it most. 

5. Team Talks

Having a team to study with is not only great for motivation, but it can also improve your lesson retention. Active learning is the process of working or chatting through a subject or problem, and studies show this is the best way to learn and practice your skills. 

Keeping up with your professional development is the best way to impress your employer and expand your job prospects. Whether you want to climb the career ladder or ease your daily workload, How Microlearning Can Level Up Your Knowledge appeared first on MintLife Blog.

Source: mint.intuit.com