Whether you’ve recently gotten lucky or scrimped and saved for a few years, knowing what to do with 50k is essential. Having money in the bank is a unique opportunity. It means you can grow it and have an even larger safety net.

So, how can you get started, and what are the smartest options? Allow us to take you through what to do with 50k in savings!

How much is $50k and how can you get it?

You may have a significant payout from a previous job or even receive an inheritance from a loved one.

In addition, when you start to cut back, use effective money-saving tips, and use high-interest accounts, you may find that the cents start to turn into dollars fast and you find that you are able to save 50k.

At first glance, $50,000 may sound like a huge chunk of money. If you’re working a minimum-wage job or don’t have a gigantic salary, you could feel it’s out of reach. Or it could be that you are wondering how much 50k a year breaks down to in hours.

What ever your thought process is, the truth is that saving $50,000 is viable for many of us. At the very least, it’s a good goal to have.

And no matter how you have come to have $50,000 in your bank, you need to know how to use it.

What to do with $50k before you invest it!

If you’re lucky enough to have 50k in cash, the obvious move is to invest it.

However, before you look into your options for what to do with the money, getting yourself into a solid financial position is the first step. With that in mind, here are a couple of the admin tasks you should take care of first:

Pay off your debts

It’s much easier to land yourself in debt than it is to get out of it. If you owe money, now is the time to settle things once and for all.

That means learning how to pay off credit card debt fast or repaying outstanding loans.

If you haven’t already got a debt reduction plan, now is a good time to start.

For example, one of the popular strategies that I prefer for paying off debt is to start by paying off high-interest debt, like credit cards.

Sometimes, I can wipe out the debt completely with one large payment. Remember, you need to check the small print of any loans you have taken out.

Paying off debts is rarely a fast process. However, armed with the 50k in cash, you are in a better position than most people.

Figure out a payment plan that works for you—and your other investment plans—and take things from there.

Create an emergency fund

Unless you have a crystal ball, chances are, you can’t see into the future. Since you don’t know what will happen in the months or years to come, you need an emergency fund.

Putting cash aside in case you ever need it will give you a sense of security. Having this pot in place can help you should you face sudden costs, such as:

• Car breaking down
• Losing your job or income
• Facing costly problems in my home
• Needing to travel on short notice

Ensuring the fund is ready and waiting for you will give you the peace of mind you need. When the unexpected happens, you will be in the best position to deal with it.

18 Smart ways to grow $50k in cash

When it comes to what to do with $50k in savings, the important thing is not to let it go to waste. That said, if you are wondering how you can make your money work for you, below are some ideas to get you started. You can also find a wealth of tips in the Clever Girl Finance book, Learn How Investing Works, Grow Your Money!

1. Invest in index funds

If you want to build a successful financial future, you may want to make investing with index funds a part of your long-term strategy.

Index funds are types of stock market investments that follow and track stock market indexes, like the S&P 500, and are typically low cost.

For example, if you invest in an index that tracks the S&P 500, you will be invested in the 500 companies that make up the S&P 500.

When you buy into an index fund, you are essentially investing in every single stock within that fund—without buying individual stocks. It doesn’t end there.

You could also invest in a total market index fund, which splits your money equally across the entire stock market.

The great news about index funds is that because they are not actively managed like mutual funds, the expenses ratios are much lowers which means more of your money can grow!

2. Buy a rental property

$50,000 makes a nice down payment if you want to invest in the property market. One of the most effective ways to capitalize on the market is buying a house to rent out.

While there are additional costs associated with this investment, it could make you a good income.

Before you get started with this venture, consider the logistics of it.

Will you use a management agency to let the property out for you? How “hands-on” do you expect to be? What extra money will you need to maintain the property to a high standard?

If you can answer these questions, you may be in a good position to invest in a rental home.

3. Start a business

Did you know that you could start a business with $50K? If you’ve been thinking about starting a side hustle or business, you can use this money to get things off the ground.

A massive 99.9% of US businesses are small businesses. Read our guide on how to start a business from scratch before you begin planning out your next business venture.

Of course, there’s a whole world of business opportunities out there. You may want to start a business with 50k by setting up a hospitality venture, such as a cafe or a bar.

On the other hand, there’s always the option to start an online store selling bespoke products to a broader audience.

Consider your personal interests and how you can translate them into a startup business.

4. Flip a house

House flipping means buying an old property that desperately needs work, making it over, and then selling it for a profit. Average gross profits on home flips can be quite good.

If I was considering whether this option works for me, I would need to consider how much the renovations will cost, any tradesmen fees, and the price of the property. I will also need a surveyor to take a look at the property before I go ahead and buy it.

I believe that understanding the extent of the work that needs to be done is essential to the investment. 

5. Invest in saving bonds

Next, let’s talk about a traditional way to boost your capital: saving bonds. When you’re deciding what to do with 50K, this is one of the most straightforward options.

Put simply, you buy a bond at face value, wait for it to mature, and then reap the rewards.

If you’re unsure where to start when it comes to investing your money, a saving bond is an ideal option. These are low-risk investments, which means that you aren’t going to lose all of your $50,000 in one unfortunate move. You can rest assured that won’t happen.

One of the biggest advantages of saving bonds is that they are backed by the full faith credit of the American government.

In layperson’s terms, you are not loaning money to a commercial entity but to the government. For that reason, these bonds are considered some of the safest investments for your money. Also, check out more of the best compound interest investments.

6. Boost your retirement savings

Now that you have excess money in the bank, it may be a smart time to increase your retirement savings.

Unfortunately, the truth is that many people out there lack a proper plan. One in four Americans don’t have any retirement savings whatsoever, explains Yahoo Money. If you fall into that category, now is an ideal opportunity to rectify things by creating a sustainable savings strategy.

How many IRAs can you have in your retirement strategy? Believe it or not, you can have more than one, like a Roth IRA or a traditional IRA. Both of these accounts offer tax advantages to help you grow your money over time so you can best protect yourself in retirement.

Take the time to learn the difference between the different types of retirement accounts. Then, look up your contribution limits. Check the yearly allowance for IRA contributions guidelines before you start topping it up.

Other more unique ways to grow $50k in cash!

While real estate, bonds, and retirement investing are all good options for your $50k, there are other ways to use the money. Here are a few ideas:

7. Buy artwork that appreciates

Are you a creative person or just someone who appreciates art? If the answer is yes, you can use your 50k to invest in some masterpieces.

There are many ways to invest in this sector. You can check out the U.S. News guide to buying art as a first port of call.

Consider whether you want to invest in individual pieces, look into fractional share agreements, or even throw your money into an art fund. The more research you do about the art world, the better position you will be in when buying some.

8. Invest in a startup

A startup is a new business that often needs investors to help it grow. You can be part of this!

It can be somewhat risky, but you can increase your chances of success by researching and understanding the startup before investing money.

You can be paid in a few ways, including shares and interest.

Help crowdfund a startup by checking out sites like Wefunder or StartEngine.

9. Invest in farmland

Owning farmland can be a lucrative investment, and it’s one of my favorite investing ideas. You can make money from rent as well as appreciation.

In addition to simply purchasing farmland, you may also choose REITs or crowdfunding to start your investing.

10. Consider cryptocurrency

Cryptocurrency is an alternative method of making money, but it can be profitable.

However, investing in cryptocurrency is not without risk and should be considered carefully.

Cryptocurrency is a new type of digital currency that you can buy. It may not immediately yield a profit, but it may benefit you in the long term. If the prices of crypto increase, you can sell what you own for a profit.

There are a variety of cryptocurrency options. Check out Coinbase to purchase this currency. Popular currency options include Bitcoin, Ethereum and Litecoin.

11. Invest for your children’s education

A great way to invest your money is to start saving for your children’s future with college savings plans.

A college 529b plan is one option for storing money for college because it lets you withdraw the earnings tax-free if they’re used for qualified education purposes.

You might also consider investing in another way, such as opening custodial accounts or even a regular investing option like index funds that you can use later for their education.

12. Buy ETFs

While they seem similar, there is actually a difference between index funds and ETFs, that has to do with the time that they are traded. Exchange-traded funds (ETFs) are an aggregation of stocks, bonds, and other securities.

For this reason, investing in ETFs makes it easier to create a portfolio with diversification than investing in individual stocks.

Another main benefit of ETFs is their very low minimum requirements to get started. It makes them a great option for beginner investors wondering what to do with 50k.

13. Consider real estate investments

Don’t want to buy a house? No problem—you can still try real estate investing for beginners via a real estate investment trust (REIT).

REITs own and/or operate properties like hospitals, warehouses, shopping centers, etc. REITs are publicly traded on stock exchanges, so they’re a great way to get into real estate investing without having to plunk down a down payment on a house—and then maintain that house.

14. Buy certificates of deposit

What is a Certificate of Deposit? Certificates of Deposit (CDs) are savings accounts offered by banks or credit unions.

Basically, you agree to keep your money in that financial institution for a specific amount of time—and they reward you with an agreed-upon APY (annual percentage yield). 

CDs can be a solid portion of your investment portfolio especially for short term savings. But there are both advantages and disadvantages of CDs to consider before investing.

For instance, an advantage is you are guaranteed a specific interest rate and your money is FDIC insured. up to $250,000 A disadvantage if that if you withdraw the funds before the time elapses you may be charged a fee.

15. Open a money market account

There are many different types of bank accounts. To safeguard and grow your $50k, you can also consider opening a money market account.

A money market account offers higher interest rates than a typical savings account.

However, like a checking account, it allows you to write checks.

16. Put money in a high-yield savings account

Investing in the stock market is a great way to help your assets grow. But when figuring out what to do with $50k, don’t forget to maintain an emergency fund!

My idea of a great place to store my emergency fund is in high-yield savings accounts, which offer higher interest rates than typical savings accounts. I’ve found that these account types are also FDIC insured up to $250,000.

17. Invest in dividend stocks

Basically, a dividend stock is any stock that pays out dividends to its shareholders.

Investing in dividend stocks gives you two opportunities to grow your $50k. First, dividend stocks give you the chance to earn income through dividends.

Secondly, dividend stocks can also help you build your overall net worth over time if the stock’s value increases.

18. Contribute to an HSA

An HSA is also know as a Health Savings Account. Importantly, it is a great way to help save for future medical expenses. 

With an HSA, you can both contribute and let your money grow tax-free until you withdraw it to pay for qualified medical expenses.

Pretty much everyone can benefit from an HSA, so if you’re wondering what to do with 50k, it’s well worth learning more about how a health savings account works!  

Expert tip: Diversify your $50k to avoid volatility

One of the best investing tips is to diversify your portfolio. In other words, don’t put all your money in the same place. So if you’re trying to decide what to do with 50k, consider coming up with a few options, instead of just one.

For example, you can keep some money in a high-yield savings account as your emergency fund, invest some money in REITs, and use the rest to buy ETFs.

3 Mistakes to avoid with 50k in cash

If it’s the first time you’ve had this much money or wondered what to do with 50k in savings, you may be excited and want to start using it.

That is completely natural, but you need to slow down. Here are some critical mistakes to avoid:

1. Failing to invest

Having your entire $50,000 sitting in your bank account won’t do you any favors. While it may seem like the obvious move when you don’t know where to start, you are wasting an opportunity here.

You need to be sure that you are making a reasonable return on this money by learning to invest smart. Take a look at our list of ideas or seek independent advice on the issue.

2. Splurging it all on vacations

Fancy heading off to Barbados? What about jet-setting to Dubai? I love vacations, so this is a splurge I have to be aware of!

While we all deserve a treat now and then, spending all your money on a luxury vacation is a mistake. When it’s over, your bank account will be empty, and you won’t have anything to show for it.

That doesn’t mean you have to invest all your money. Splurging a little on yourself can help you get it out of your system.

If there is something that you have always wanted, see if you can afford it. Set aside some cash for vacations and extravagances.

But just because you have $50k doesn’t mean you have to increase your expenses. Instead, remind yourself to avoid lifestyle inflation.

3. Giving the money away recklessly

Be sure to keep your 50K in cash safe! Whether you fall foul to an online scam or are pressured to give your money away to someone you know, there’s no doubt that you will regret doing so.

It’s a sad fact, but when people know you have money, they may try to extract it from you.

While there’s nothing wrong with helping out someone who is genuinely in need—such as a close friend or family member—be aware that people may try to take advantage of you.

Ensure you are practicing how to be smart about money and doing things for the right reason—not because you feel you have no other choice.

How much interest will $50,000 earn in a year?

The amount of interest you can earn on $50,000 in a year depends on what the annual interest rate is. For example, if your annual interest rate is 4%, you could earn $2,000 in interest on $50,000 in a year.

Keep in mind that this number can vary depending on where you invest your money.

Is $50k a lot of savings?

$50k is a lot of savings and definitely an important milestone to celebrate. However, 50k will not be enough to sustain you in retirement, so it’s important to find ways to invest and continue to grow that 50k. 

What is the best investment for $50k?

There is no one best investment for $50k for everyone. But there is one golden rule regarding investing: diversify, diversify, diversify!

So when researching the best investment for 50k, remember to consider a breadth of options, like ETFs, REITs, dividend stocks, etc.

Is $50k too much in savings?

Deciding whether $50k in savings is too much depends on your lifestyle. Generally, it’s recommended to have an emergency fund that equals 3 to 6 months of living expenses. For some people, this may be 50k.

That said, if your living expenses are relatively low, I think $50k may exceed your emergency fund needs. In my opinion, that makes it a good idea to invest at least some of that 50k. 

Articles related to what to do with 50k

If you found this article on what to do with $50 helpful, check out this related content:

• $50k A Year Is How Much An Hour?
• How To Be Smart About Money: 5 Ways
• Do You Have To Spend Money To Make Money?
• How to Grow Your Money: 7 “Must Do” Tips
• Best Compound Interest Investments

You can create great opportunities by being smart with your $50k!

Knowing what to do with 50k doesn’t have to be challenging. The truth is that this is an opportunity, and you can easily grow your money. You might choose to start a business with 50k, invest, or do something else.

In this guide, we’ve covered some of the most effective strategies you can use to make a good return on the lump sum of money.

Use it as inspiration when deciding what to do with your newfound wealth. You might also want to consider, “Do I need a financial advisor?”, think about using robo-advisors, or get independent advice on what the next steps could be for your savings.

The post What To Do With $50K: 18 Smart Ideas To Grow Your Money appeared first on Clever Girl Finance.

Looking for a way to make extra cash? Well, finding out how to sell printables on Etsy is a solid move. Not only is this a great side hustle, but it allows you the opportunity to be creative, too. Keep reading to learn more about this income idea!

If you’re wondering how to get started, you’ve come to the right place. From the initial idea and design to setting up your Etsy shop, this guide has everything you need to know. 

What are printables, anyway?

This is the name given to digital products that you can sell online. You design, create, and upload these materials to your online store. 

There’s a whole range of printables you may choose to sell.

For example, calendars, artwork, organizers, workbooks, coloring books, gift tags, wedding budget breakdown printables or invitations, greeting cards, photography, graphics, and other types of stationery. 

When a customer buys your printables on Etsy, they can download the materials in various formats and print them at home. Some sellers use a print-on-demand (POD) service, allowing the buyer to purchase the material and have it printed by a third party.

Can you make an income selling printables on Etsy?

The short answer is yes. There is money to be made by selling printables on Etsy and you can make a good side income.

In fact, the latest statistics show that the demand for Etsy printables has soared over the years, according to Influencer MarketingHub. 

Of course, the potential earnings from selling printables on Etsy vary widely. Success depends on factors like product quality, marketing efforts, and niche selection. 

Despite this fact, you should know that it’s possible to make a substantial income, and there are success stories out there!

To maximize your income, continually improve your designs, expand your product range, and invest in marketing. Participating in Etsy’s promoted listings can also boost visibility.

5 Simple steps to selling printables on Etsy

Selling printables on Etsy is a savvy way to get started if you’re wondering, “What can I sell to make money from home?”.

Of course, if you’re new to this process, you may not know where to begin. We’ve got you covered. Let’s take a look at five simple steps that you can follow to get set up. 

Step 1: Identify your product

First up, you need to decide what type of printable product you want to sell. You should work to both your design strength and the current demand in the market.

With that in mind, here are some ideas that you might want to consider for your Etsy printables: 

• Organizers
• Calendars
• Checklists 
• Coloring pages
• Lyrical quotes 
• Wedding invitations 
• Seat placements 
• Artwork 
• Bridal shower games 
• Guest lists 
• Gift cards and tags 
• Posters 
• Scavenger hunts 
• Flashcards 
• Photo booth props 
• Food prep sheets 
• Self-care materials 
• Budget planners 

It’s important not to try to do everything at once. So, if you want your Etsy store to be a success, you will need a niche.

For example, you may choose to specialize in bridal shower materials. You could make invitations, party games, and props for photos. 

By choosing a niche, you give yourself a good shot at getting known for certain products. You can build your brand around your offering so that customers know what to expect. 

Step 2: Create your printables

If you love design, it’s one of the hobbies that make money. You will need some design flair to learn how to make printables to sell on Etsy.

To get started, you will need to choose your software. You can use Canva, Adobe Creative Suite, Affinity, or any other design program to make printables.

And if you’re new to the realms of design, it’s worth getting up to speed on how to use them. You could take a design course or find tutorials and guides on the software’s respective websites below: 

•  Canva Tutorial
• Adobe Creative Suite Tutorials
• Affinity Tutorial

Take the time to perfect your craft. When you are happy with your designs, make sure you download them in high quality. You will need to offer a range of formats for your Etsy store.

Step 3: Establish your Etsy shop

Next up, you’re going to need to open an Etsy store. If you already have one, you can skip this step. Follow the simple steps below to get started here: 

Sign up for an Etsy account

The first step in this process is easy. Visit the Etsy homepage and click on “Sell on Etsy”.

Choose a name for your store

After signing in, click “Open Your Etsy Shop” to begin the setup process. You’ll need to choose a shop name and personalize your shop’s appearance, banner, and policies to make it unique.

You will also need to add a logo for your store. This could be vital when attracting customers. 

Comply with the legal requirements 

Check your local regulations for any business licenses or permits you may need. SBA.gov can give you more information, and this article from NerdWallet offers a list of how to get a business license in each state. If you need more information, Etsy provides a helpful guide on legal policies and requirements.

Depending on your state, you may need to pay sales tax on the income that you make from Etsy. That can be a complex system. Be sure to read up on tax information before getting started with your shop.

Set up your payments

Before you get started with how to sell printables on Etsy, you need to make sure that you can get paid. You should link your Etsy store to a bank account for payments and configure your shipping options. You can do this during the set-up pages. 

To enter your payment information, you should first choose the country where your bank is located. This will determine what currency you get paid in. Select whether you are an “individual” seller or a “business” next. 

You will then need to fill out some personal details: your name, address, and other information. When you have done all of the above, you can connect your bank to Etsy using PLAID. 

Since you are dealing with downloadable products, you don’t need to worry too much about the shipping details. However, you may still need to fill out the details. 

For that reason, you should select “Calculate them for me” when choosing the postage prices. Enter your country of origin and zip code, and then for processing time, you can select “1 day”.  You also need to select a preferred delivery service before you can continue.

Step 4: List your printables

When you have set up your store, it’s time to get rolling with how to sell printables on Etsy. There’s an art to getting this part of the process right. Here’s what you need to do:

Add your printables to your store

After you’ve learned how to make printables to sell on Etsy, you should add your printables as listings. Make sure to provide clear, enticing titles and thorough descriptions so your buyers know exactly what to expect.

Perfect the promotional pictures 

A picture is worth a thousand words. This is the first thing that buyers will see, and so you need to make it count. Follow Etsy’s guidelines when choosing the right size.

Make sure that the pictures you use are bright and colorful. Your designs are your products, and so they need to capture the buyer’s attention. 

If you want to, you can create “mockups” of how the printables will be used.

For example, if the printable product is a picture, you can show it in a frame hanging on the wall. 

Get the pricing right 

Pricing your Etsy printables well is a must.

For instance, look at what other sellers are charging for similar digital products and go for an average price point.

When choosing a price, take into consideration the Etsy fees. The platform charges $0.20 USD per listing and also a transaction fee of 6.5% of the selling price, and other fees may also apply.

Offer high-quality printables

High-resolution images are crucial for achieving crisp and clear prints. So aim for a minimum resolution of 300 DPI (dots per inch) to ensure that your printables look sharp and professional. 

Additionally, save your design files in suitable formats like PNG or PDF. These formats preserve image quality and ensure that your printables maintain their visual integrity when customers print them.

Include printing instructions

In your product descriptions, go beyond just showcasing your digital products. Provide customers with clear and specific printing instructions. 

Recommend the appropriate paper type, size, and weight for optimal results. These instructions help customers achieve the best possible print outcomes.

Give buyers multiple file formats

Cater to a broad customer base by offering your digital products in various file formats. Common formats include PDF, JPEG, and PNG. Clearly state the available formats in your product listings so that customers can choose the one that suits their needs. 

Display sample prints too 

Enhance your product listings by including images or mockups that showcase your digital products when they are printed. Showcasing sample prints demonstrates the quality of your designs and assures potential buyers that your printables will look impressive.

Step 5: Advertise your printables

By this point, you should have your store and printables ready to go and know how to sell printables on Etsy. So, how can you make some sales? The answer is promotion, promotion, and more promotion.

Use social media to share your designs

Social media could help you sell your printables. You can make short, snappy videos sharing a sneak peek of your designs. This type of content works well on Instagram Reels and TikTok. 

Advertise via the Etsy platform

Don’t forget to utilize Etsy’s advertising tools. The platform offers both on-site and off-site advertisements. These ads can cost around 0.20 USD to 0.50 USD per click.

Expert tip: Offer seasonal promotions on your Etsy printables

When we talk about how to sell printables on Etsy, promotion is key. Consider offering seasonal discounts, flash sales, and more to entice buyers.

For example, you might do a Christmas expense planner deal for people doing Christmas on a budget or a spooky Halloween offer. The promotions that you run should align with your audience.

So if you choose to open a bridal store, selling wedding-related stationery, that should guide the deals you offer. In the lead up to wedding season, you could offer a sale for your customers. 
You may find that this is a case of trial and error.

When you first set up your Etsy store, try out a few different promotions. You will quickly see which ones hook customers’ attention.

Is it worth selling printables on Etsy?

Yes it is definitely worth selling printables on Etsy. The stats show that the demand for printables is rising. That means that now is a good time to jump aboard and make some money.

However, you will need to have a knowledge of design and a creative flair to get started with unique side hustles like this.

How much money can you make selling printables on Etsy?

How much you make selling printables on Etsy depends on a range of factors. To make money, price your printables in line with the averages and ensure that you have easy download instructions. 

Every Etsy shop is different, so there is no exact number for how much you will earn with your store.

However, according to Smart Money Mamas, the median amount for a shop is approximately $300 a month, making this a possible side hustle but not a full-time job. But there are also shops that make a lot more than this, as well as less, so much of it will depend on your particular shop and ideas.

What is the best way to sell printables?

Using Etsy is one of the best ways to sell printables. You can create your own designs on your chosen platform and then upload them to the online selling website.

As part of how to sell printables on Etsy, you should first create unique designs. Make sure that they are available in a variety of formats so that buyers can download them. You can then list these digital products on the Etsy marketplace and sell them as downloadable content. 

How much does it cost to sell PDFs on Etsy?

Etsy charges 0.20 USD per listing and then a 6.5% transaction fee on each sale. 

However, the costs don’t end there. If you are paying for design software, this is an additional fee that you will have to cover before you make a sale. Your time is also valuable. Take into consideration how long it takes you to complete each design. 

When you are deciding how much to sell your PDFs for, you should look at all of the above costs. That way, you can make sure that you are making a healthy profit and not wasting your time on this side hustle. 

Articles related to Etsy and starting a business

If you liked reading about selling printables, check out these ideas next!

• 15 Ideas For What To Sell On Etsy
• How To Make An Extra $1000 A Month: 33 Ways
• How To Start A Side Hustle In 10 Steps
• A Guide For How To Start A Business With No Money

Discovering how to sell printables on Etsy can help you earn money!

Selling printables on Etsy is a smart thing to add to your list of high-income skills. Especially if you have a flair for design and some smart ideas for how to make printables to sell on Etsy. Since you don’t have to physically post these products, you could make a nice passive income this way.

Whether you decide to sell organizers and calendars or even create your own artwork, there are plenty of opportunities to seize. Starting a side hustle like this can help you find financial success and more freedom with your time and money.

The post How To Sell Printables On Etsy In 5 Steps appeared first on Clever Girl Finance.

Managing your budget is essential, and there are plenty of ways to do it. The cash envelope system is one of the most useful tools you can use to get on top of your finances. However, if you want the best chance of success, you have to choose the right cash envelope categories, and luckily, you’ve come to the right place. 

In the following guide, we will take a look at some example cash envelope system categories to give you some inspiration. Here’s what you need to know to get started!

Benefits of leveraging cash envelope categories

While you can use either a cash envelope wallet or a digital envelope system, the fundamentals of this approach are the same.

And if you’re ready to get started with this budgeting system, you will need clear cash stuffing categories. So let’s take a look at the key reasons planning your categories works: 

Avoid impulse spending

Are you guilty of impulse spending? This habit can drain your finances quickly and leave you wondering where your paycheck went.

However, having solid cash envelope categories helps you decide where to spend your money in advance, giving you total control here. 

Improves your ability to save money

For many of us, saving money can be challenging. If you have struggled with this in the past, using cash envelope categories may be the answer. You have total control over the cash stuffing categories, and so you can create envelopes that suit your lifestyle and help you spend less.

When you feel as though saving is all work and no play, you can account for spending money on fun things in advance with this system and start to live richer.

For example, you may choose to have a “fun” category or an “entertainment” category. 

Better understand your finances

A massive 77% of Americans are anxious about their finances, and failing to understand them plays a major role in that. Deciding on which cash envelope system categories to use will make you think more deeply about the money that you spend. 

Going through this process means that you will have a cold, hard look at your income and also your outgoings. When you do that, you will begin to have a better grasp on your finances. 

Learn where the bulk of your money goes

Do you know where your money goes? When we categorize our spending, it’s easier to visualize our spending habits. There’s an element of trial and error here. 

Once you start using cash envelope categories, you will have to guesstimate how much you spend on each thing.

However, the longer you use this system, the better you will understand your finances and how much you spend in each area.   

20 cash envelope system categories to consider

The cash envelope categories you choose will depend on your lifestyle and how you prefer to spend your money. If you are not sure where to start, we’ve got some inspiration for you. So let’s take a look at 20 of the most common example categories you could use: 

1. Rent or mortgage

Before you start thinking about your other cash envelope categories, here’s one non-negotiable. Chances are, your mortgage or rent payment is the same each month. So, you can set aside the same amount for this ongoing outgoing. 

2. Utilities

On the other hand, your utility payments will fluctuate throughout the year. You may pay more for gas during the winter as your usage goes up. Dealing with the ups and downs in how much you pay can be difficult — that’s where this system comes in. 

Putting an average amount into this cash envelope every month means that you will have some cash left over (though it’s also important to work on how to lower electric bill costs). So, when the cooler months come around, you are well-prepared. 

3. Food and groceries

Many of us have zero idea how much we spend on food and groceries each month. It’s not simply about the main shopping trip you do. You also need to account for the extra items you buy throughout the month.

Having a cash envelope category for this spending is essential in addition to practicing budget meal planning. 

4. Cleaning products

While spending your money on cleaning products may not be fun, it is important.

You need to top up your stock of items every now and then. Setting aside money for this pesky cost will help you with your overall budget management. 

5. Household items

Household items may include toilet rolls, paper towels, plants, ornaments, or even new blankets.

While I won’t always need to buy new things for my home, I know that having a budget for these costs means that my spending never comes as a nasty surprise. 

6. Transport

Are you a jet setter? If you’re always on the go, you’re going to need to put aside some money for travel or a vacation budget.

This cash envelope may cover your fuel costs, train tickets, bus tickets, and also airfare. Whether you commute or just like to get around, make a budget for it. 

7. Eating out (or in!)

The average American family spends $2,375 per year on eating out. If you’re a foodie and love sampling dishes, you need to include this as one of your cash envelope categories.

You can either do separate envelopes for eating out and takeout or combine the two. 

8. Kids fund

If you have a family, there’s no doubt that a large portion of your budget will go to your children. Having a separate cash envelope for your little ones is the way to go.

This money may cover their childcare, days out, clothing, food, and any extras, such as clubs. 

9. Garden

Should you have green fingers, this next cash envelope category is for you. Gardening tools and furniture are not cheap.

Personally, I like to consider how much I spend on this pastime on average. Then I may need to adjust how much I set aside as I go with this one. 

10. Personal care

You can’t put a price on self-care… Okay, maybe you can. When you’re choosing which cash envelope categories to use, don’t overlook this one.

This part of your budget covers haircuts, massages, beauty treatments, an occasional self care week, and also hygiene products.

11. Clothing and shoes

Learning how to stop buying clothes that you don’t wear takes time, but it’s a habit that will drain your finances. To help you stay on track, create a clothing and shoes cash envelope category.

Put the same amount in this envelope every month, and you will find that the budget soon starts to pile up. 

12. “Fun” spending money

We all deserve to have some fun now and then. You work hard, and so you should spend some of your money on enjoying yourself.

That may mean having a day out with the family, doing an activity, or buying a new game. The choice is yours. 

13. Vacations

Want to leave your troubles far behind you? Heading to a remote beach or taking a city break may be the answer.

In a survey from Forbes, almost half of people said they plan to spend $4,000 a year on vacation. Start planning your next trip by saving money in a cash envelope. 

14. Makeup and beauty

When you look your best, you feel even better. We all have unique makeup and beauty routines that work for us. When you are planning your cash envelope categories, it’s smart to include this one in your list. 

15. Pet fund

Do you have a furry friend that you love? Pets are a wonderful addition to any family, but they can also be expensive.

Figure out how much you spend on vet bills, pet food, and pet-related products. You will need to find an average here to create your envelope. 

16. Entertainment

Whether it’s a night out at the movies or attending a Taylor Swift concert, we all need to be entertained.

However, splurging thousands on tickets without having a budget is a mistake. When you set aside money for this particular cost, everything becomes easier. 

17. Events

Next up, let’s talk about events and how much they cost you. That may be your cousin’s bachelorette party, a wedding, or even someone’s 60th birthday party.

All of the above can put a serious dent in your wallet unless you have budgeted for them well in advance. 

18. Date nights

When was the last time you and your partner spent some quality time together? Setting aside both the time and money for this is important.

Think about the type of dates you enjoy and how much they typically cost when planning your budget, and consider at home date night ideas. 

19. Gifts

Giving something special to a loved one is priceless.

While there are plenty of inexpensive thank you gift ideas as well as birthday and holiday gifts, you still need to budget for them. Including this as one of your cash envelope categories means you will have the money to treat your nearest and dearest. 

20. Emergency

Emergencies can arise when you don’t expect it. You might find that your car breaks down or your roof needs fixing. These problems cost a lot to solve, so you need to plan ahead for it. 

More than 50% of Americans cannot afford to spend $1000 on an emergency situation. Set aside a decent amount of money in case of unexpected costs in an emergency fund. 

Expert tip: Switch up your envelopes as needed

As many people start to use the cash envelope system, we will each learn where the majority of our money goes. We can change the amount we use in each envelope depending on what we learn along the way. This way, we can switch up our envelopes as needed.

How should I label my cash envelopes?

You can label your cash envelope categories in a couple of different ways. If you’re using a digital system, you can use a banking or budgeting app to manage your money and divide it into categories digitally.

When you’re using physical envelopes, you can use a marker pen to label each category and put cash in envelopes. 

How do you organize cash envelopes?

You can organize your cash envelopes with a filing system or cash envelope wallet.

Once you have filled each of your cash envelopes, you need to store them. You can keep them in a filing drawer and take out the ones that you want to use. Storing them away could also help you stop spending money in categories you’re not using. 

There are also cash envelope wallets you can buy to keep things organized.

And if you’re using an app or digital device, be sure to check in on it each day and keep it updated when you spend. That way, you’ll know how much money is left in each category.

What is an example of a cash envelope?

Some of the most common cash envelope categories examples are food and groceries, rent and mortgage, utilities, entertainment, fun, gardening, personal care, and emergency funds. 

You may also choose very specific cash stuffing categories based on what you want to buy.

For instance, “shopping for handbags” or “money for books.”

Articles related to cash envelope categories

If you enjoyed reading this article about the cash envelope system and cash envelope categories, try reading these next!

• How To Use The Cash Envelope System To Master Your Budget
• Save $5k With The 200 Envelope Challenge!
• How To Budget: Budgeting Methods And Budget Categories
• How To Use A Digital Envelope System

Choose your cash envelope categories now!

If you are going to use the cash envelope system, deciding which categories suit your lifestyle and needs is the first step. You can take a look at the category examples we have highlighted in this guide and use them or simply come up with your own. 

Each of us has a different income and varying commitments. So, what works for you may not work for someone else, and you can do things differently based on your budget. Take the time to consider your money habits when choosing your cash envelope system categories. 

The post 20 Cash Envelope Categories For Your Cash Budget appeared first on Clever Girl Finance.

College is not the only road toward success. When you’re looking for a way to make it, there are many options from which to choose. That said, 6-figure jobs without college degree educations do exist if you want to jump right into the workforce. In the following guide, we will take a look at the best high-paying jobs without a degree or experience.

Finding high-paying jobs without a degree or experience is possible

With the high cost of higher education, it’s no wonder many young Americans are choosing not to go to college. If you are unsure about college, you could take on an apprenticeship, an internship or do on-the-job-training while you decide.

Alternatively, diving straight into the working world could give you a distinct advantage over the competition. What’s more, there are plenty of 6 figure jobs without a college degree out there. In fact, the world is your oyster. 

If you didn’t go to college (or plan not to), there are many careers you can pursue. Contrary to popular belief, this choice won’t stunt your ability to make a hefty salary. So let’s take a look at the highest paying jobs without a college degree and how you can get started with them. 

Managerial jobs

If you’re comfortable organizing and managing groups of people, there are some high paying 6 figure jobs without a college degree education calling your name.

For instance, here are two options to look into. 

1. Product manager

A product manager finds out what their customers truly want from a product, works out how that fits within their company, and then figures out what is needed and who to work with to make the product a win for the business.

A job like this requires an ability to work with many personalities and also an understanding of how people think when it comes to products.

Sure, you can become a product manager without a degree. However, it is smart to gain additional training if you want to break into this sector. You will play a key role in making sure that a business has the right products for its customer base. 

That means analyzing trends and also creating a strategy to launch products that will sell. It’s no easy feat, but it’s doable and can be very fulfilling.

To gain a job in this field, you may need to have business experience and expertise in the subject, for example, IT or consumer electronics. 

Average salary: $112,513

Skills needed to become a product manager: 

• Critical thinking 
• Organization 
• Business understanding
• UX knowledge 
• Communication 
• Collaboration 
• Subject expertise 
• Strategic mind 

2. Medical and health services manager

Interested in becoming a medical health services manager? While some businesses expect you to have a college degree, the requirements of each one vary.

You will be responsible for the hospital’s general, day-to-day operations. 

For instance, this can include everything from making schedules and hiring to creating budgets. A strong understanding of communication and also listening will take you far in this field.

If you don’t have a college education, you may be able to land this role by climbing the career ladder.

You can also get additional training. Undertaking a leadership program or online course will also help along the way. 

Average salary: $131,367

Skills needed to become a medical and health services manager: 

• Active listening 
• Collaboration 
• Communication 
• Care coordination 
• Financial management 
• Time management 
• Leadership

Commercial jobs

Want to work in the commercial sector? Luckily, numerous positions offer 6 figure jobs without college degree educations. So here are three options you may consider. 

3. Business owner

Have you ever dreamed about starting your own business? Believe it or not, you don’t need tons of money to create a startup. You may have a side hustle that you want to turn into a full-time job or have a creative vision for the next big thing. 

There are many ways to start a business and make big money, even if you need to find out how to start a business with no money at all!

Kick things off with the initial idea: how do you envision the business working? From there, you can start looking at making a business plan, gaining any funding you need, and also getting it off the ground. 

There are many businesses you can start, but some good ideas to begin with include becoming a freelance writer, starting an event planning company, creating an online store, and also starting a coaching business.

Average salary: $104,442

Skills needed to be a business owner: 

• Entrepreneurial spirit 
• Idea generation 
• Organization 
• Attention to detail
• Networking 
• Communication 
• Technical skills 
• Accounting 

4. Real estate agent

Can you imagine yourself working on Selling Sunset? If you’ve got the gift of gab, it’s worth looking at real estate jobs. Real estate agents help people to find a new home, or you might also sell commercial property.

You will have the chance to guide buyers through the process of purchasing a property.

For instance, that involves everything from showing them houses and apartments to fielding offers and liaising with the sellers. 

If you want to become a real estate agent, you will need to research the requirements in your state, take a course, and also gain a license.

In addition, the great thing about this type of job is that the hours are quite varied. You can create your own schedule, to an extent, if it fits with when your clients can meet with you.

Average salary: $96,382 (Up to $191,607)

Skills needed to become a real estate agent: 

• Charisma 
• People skills 
• Communication 
• Math 
• Organization 
• Time management 

5. Commercial pilot

A commercial pilot flies planes carrying cargo or people and makes sure the plane is working properly.

Did you know that commercial pilots don’t need a degree? General airline pilots do need a college education.

However, you can become a commercial pilot with only vocational training in accordance with federal regulations.  

To prepare for this elite role, you will have to attend weeks of both ground training and then flight training. It is likely to be a challenging but ultimately rewarding process. 

Average salary: $134,630

Skills needed to become a commercial pilot:

• Dexterity 
• Confidence (try these confidence building exercises!)
• Teamwork
• Communication 
• Math and physics 
• Spatial awareness

Technical jobs

If you are lucky enough to be tech-savvy, your earning potential is almost limitless for 6 figure jobs without college degree educations. Many of the high paying remote jobs without a degree or experience fall into this category.

So here are three options that you may want to try for yourself. 

6. Software engineer

According to Michigan Tech, software engineering is a type of computer science involved in maintenance, testing, development, and also design.

While you can enter this sector by going to college, 27% of software engineers don’t have a college degree.

That means using programming languages — such as Java or C++ — to create applications or websites. To get started, you will need to learn one of the most common programming languages. You can use that knowledge to gain your first job.

Another good thing that makes this one of the best, highest paying jobs without a college degree? You can freelance or also choose to work with a company, depending on your values and time commitments.

Average salary: $115, 097

Skills needed to be a software engineer:

• Analytical skills 
• Problem-solving 
• Research skills 
• Tech knowledge 
• Programming language knowledge 
• Troubleshooting 
• Written communication

7. Web developer

Web developers make websites and may write code, work on the user interface, or also manage a website. There is a lot of variety in what you can do, which can be a great way to have a creative and also fulfilling career.

It may surprise you that you don’t need a degree to work as a web developer. Much like the role of a software engineer, this position relies heavily on your technical skill set.

So if you’re looking for high paying jobs without a degree, it pays to look at this option. 

Once again, you will need to learn one of the most common programming languages to get a job in this sector. You can also get into this career by undertaking boot camps or taking an online course in one of the languages. 

Average salary: $77,030 (but can go up to $100,670)

Skills needed to become a web developer: 

• Technical knowledge
• Testing and debugging 
• UX and UI design 
• Troubleshooting 
• Problem-solving 
• Decision-making 
• Programming language knowledge 
• Front-end coding 

8. DevOps engineer (Development and operations engineer)

DevOps degrees don’t exist, and many of the professionals who work in this sector don’t have a degree. These professionals act as the middle-person between teams, so it’s important that they have top-level communication skills. 

As a DevOps Engineer, you will have a general understanding of IT programs and systems. You will work with agile principles to make sure that the team delivers quickly and also efficiently. To get started in this role, you should have IT experience and training. 

Average salary: $129,937

Skills needed to become a DevOps engineer:

• Tech-savvy mind
• Interpersonal skills 
• Communication skills 
• General IT knowledge 
• Coding 
• Infrastructure management 
• Collaboration

Expert tip: Develop your skills

So, how can you land one of these 6 figure jobs without a college degree? The answer is simple enough: invest in your independent education. Developing your money making skills gives you the opportunity to go after positions with high-level salaries and responsibilities. 

First up, consider which role you want to get. When you have it in mind, you can start creating an action plan to help you land it. It’s worth figuring out what education and also what experience you need to get the position. Do your research and start working toward it.

What jobs can you make 6 figures without a degree?

The top jobs that can make you 6 figures with a degree include being a commercial pilot and also a health services manager. Keep in mind these jobs will require certain certifications. Consider the skills that you already have and the sector in which you’d like to work. 

How can I make $100,000 a year without a college degree?

Looking into training courses and also apprenticeships is the way to go if you want to make $100,000 a year without a college degree. After all, gaining a college degree is by no means the only way to become successful and make a lot of money. Some vocations, such as web development, require you to have training rather than a degree. 

How to make $200k a year without college?

If you’re looking for a way to make $200k a year without college, you could learn how to start a business from scratch. The truth is that you don’t need a college degree to do this, and, in addition, you can dictate how much money you earn.

However, you do need to have a strong business mind, analytical skills, communication skills, and an idea to make it work. 

What is the highest paying job without going to college?

High-paying jobs you can get without going to college or having experience include jobs as areal estate agents and medical and health services managers. As we have covered, there are many six-figure jobs you don’t need a degree for. And you also have the ability to create your own job by starting a business!

Articles related to high-paying jobs without a degree or experience

If you enjoyed learning about these high paying career choices, you’ll love these related articles!

• 23 Best Jobs That Pay Well Without A Degree
• 15 High Income Skills Without A Degree Needed!
• The 15 Best Jobs For Moms With No Degree
• The Best High Paying Remote Jobs And Best Remote Job Sites

6 Figure jobs without college degree educations give you more options!

Should you choose not to go to college, you can still create a lucrative career you love. The truth is that there are many avenues you can look into for the highest paying jobs without a college degree.

So get started by considering the unique skills and talents that you bring to the table. 

If you can match your skill set to one of the above jobs, you can land a six-figure salary before you know it. And think of the great things that could do for your financial wellness, savings, and investing goals!

The post 8 Of The Best 6 Figure Jobs Without A College Degree appeared first on Clever Girl Finance.

If you think that it’s time to throw in the figurative towel, you’ve come to the right place!

Table of contents

• What is a good reason for leaving a job? 6 Examples
• Expert tip
• Leaving a job the right way
• How to answer the question, “Why did you leave your job?”
• How much time should you stay at a job you want to leave?
• Are there other good reasons to quit your job?
• How can you prepare to find a new job?
• Articles related to leaving a job
• Leverage these tips for leaving a job the right way!

Let’s take a look at the best reasons for leaving a job, how to do it professionally, and how you can explain your decision to your next employer.

What is a good reason for leaving a job? 6 Examples

People quit their job every single day… and there are plenty of reasons out there. Here are six that you may want to consider.

1. Deciding to relocate

Do you need a change of scenery? Over 10 million Americans, move states every year. Unless you happen to have a remote job, relocating means that you need to switch jobs.

Choosing to move across the country – or even further afield – is a good reason for leaving a job.

Of course, if you’re happy in your current workplace, you may want to speak to your manager about the possibility of going remote. If that is not possible, searching for new positions in the location you are moving to is the answer.

How to explain yourself: When you’re planning on making a move, the reason is pretty clear-cut. You can be 100% honest with your boss about this decision. 

2. A toxic boss

Another reason for leaving a job? Dreading Mondays because your boss is toxic. Having a toxic boss can have a negative impact on your health, leading to higher levels of heart disease.

But it doesn’t end there. When you’re working with a toxic boss, it will impact how you feel about your day job. This unfortunate turn of events may lead to higher stress levels and anxiety surrounding your career.

To fix a problem you have with your boss, the first step is speaking to HR. You can organize a meeting to talk about the problems you have been having.

However, if you have exhausted this particular route, you may still decide to look for another job.

How to explain yourself: As satisfying as it may be to tell your boss exactly why you are quitting, you may want to avoid that. The chances are, you will need to rely on them for a reference. Instead, you might say that you are looking for more progression elsewhere.

3. No room for progression

While we’re on the topic of career tips and progression, if there’s no room for it at your job, you may want to leave. We all want to get ahead when it comes to our professional lives. If you’re at the top of the corporate ladder, you need a new start.

Jumping ship is not as drastic as you may have been led to believe. A massive 70% of Americans are actively looking for a change in career. Why not consider joining them?

How to explain yourself: Your boss may have seen this one coming. If there isn’t a chance for you to progress in your current company, you can be honest about your reason for leaving.

Wanting to learn new things and develop your skill set is not a bad thing. In fact, it is admirable.

4. Wanting a career change

Have you dreamed of doing something completely different? It could be a career change into a different area of your current expertise or moving into a completely new industry.

There are plenty of factors to consider when choosing a career that better aligns with the future you want that you’ll need to explore. But determining the specific kind of career change you seek is a good idea before leaving your job.

How to explain yourself: Once again, honesty is the best policy here. If you have a different type of career in mind, tell your boss the truth. If you are a highly valued employee, they may even have some advice about how to break into that new sector.

5. The company culture isn’t ideal

Finding a job and business that aligns with your values is essential. If you don’t like the company culture, it’s wise to find a business that is a better fit for you.

Company culture is about common values and ways of behaving. When these don’t align with your own outlook, you’re going to have a problem. This is another example of a good reason for leaving a job.

How to explain yourself: This is a tricky one but as part of why you are moving on, you could politely highlight ways in which the company culture could be improved in the future.

Remember, you don’t have to tell your boss why you are leaving your job if you think bringing up the flaws in company culture will create any negative feelings.

6. Wanting to start your own business

Do you have a successful side hustle that you want to take full-time? Or maybe you’re considering how to start a business from scratch. Quitting your job to spend time on your own business is a savvy move.

However, it’s vital that you ensure you’re well-prepared to go it alone ahead of quitting your job.

Make sure you have done the math. Of course, you will need to have savings to support you until the company is off the ground.

You should also make a business plan and know when your income will be stable.

How to explain yourself: Whether you tell your boss that you are leaving to start a business will depend entirely on the relationship you have with them. You may feel comfortable enough to share the news with them.

However, if you would rather keep it to yourself, you can simply say that you decided to make a career change.

Expert tip

Whatever your reasons for quitting, it’s important to remain professional. Remember this, especially if you will need references for your new job opportunities or may need to network with old co-workers in the future.

Leaving a job the right way:6 Key tips to do it right

So, now you’ve read through the above “leaving a job examples”. What happens next? Leaving can be intimidating.

However, there is a right way to hand in your resignation. Here are some tips.

1. Check your resignation terms

Most companies expect you to give two weeks’ notice as standard. Be sure that you give your resignation at the right time for you.

Of course, the resignation terms may well differ depending on your contract. You should check the terms of your resignation before you do anything else.

2. Don’t tell your co-workers first

If you’re excited about starting this new chapter in life and your career, you may be itching to tell everyone about it.

However, word can get around faster than you expect in a workplace.

Telling your co-workers about your plans before you tell your boss is a bad move. If your manager hears this news secondhand, they are unlikely to be too pleased about it.

3. Have a meeting with your boss

Before you write a formal resignation letter, it’s a good idea to have a meeting with your boss. Telling them your plans first is a sign that you have no bad intentions.

Simply explain that you plan to hand in your notice and directly say that you wanted to tell them first. You should also follow up by saying that you will give them a formalized letter. Remember, you don’t have to give them specific details or a reason for why you leaving.

4. Write a formal resignation letter

Once you’ve broken the news to your employer, you should write a resignation letter.

In most cases, this is needed to confirm that you will be leaving and give notice. Here’s an example of a resignation letter:

Dear [Employer’s name],

Please accept this letter as written confirmation of my resignation from the position of [job name] at [company name]. As advised in my contract, this is effective as of two weeks from [Insert today’s date].

Thank you for the learning and development opportunities you have provided me during my employment. Please let me know how I can help make the transition period as smooth as possible.

Kind regards, 

[Your name]

The above template gives you an idea of the type of resignation letter you could write. You can leverage it as an example to create one that works for you.

5. Avoid over-explaining yourself

You may be tempted to over-explain this decision. If you haven’t left a job in a long time, the idea of doing so can be tough.

However, leaving a job is normal. Don’t make rash decisions with your career by apologizing or giving a detailed explanation. You simply don’t need to.

6. Wrap things up

You want to part on good terms. Make sure you wrap up the fundamentals of your job role and help out with the handover.

Ensuring that the transition period goes smoothly is not only helpful, but it will also help you bag that all-important reference too.

How to answer the question, “Why did you leave your job?”

Now that you’ve left your job, there’s another hurdle to get over. When you’re applying to find a new job, what should your reason for leaving a job answers be? Here’s our handy advice!

Prepare your reason ahead of time

You will get asked questions about why you left your job, so prepare your answer. Before you head to a job interview, make sure that you have this answer in your mind. That way, you won’t be caught off guard by it when the interviewer asks.

Don’t be negative about your previous company

No matter how you feel about your previous job, this move will reflect badly on you. You want to make a good impression. When you’re speaking about your ex-employer, avoid saying anything that could be seen as negative.

But do give a reason for leaving your job

The hiring manager is unlikely to be pleased with a vague response. Here are some good reason for leaving a job answers you may want to consider using:

• “I am looking for career progression”
• “I want to break into a new sector”
• “I believe that I had reached the top position in my previous company”

Show a level of confidence

Confidence is everything. So don’t be intimidated by this interview question.

When you are faced with it, be ready with your reason and put it out there in a bold way. You can try some confidence-building exercises to prepare. Show that you are secure in the decision you made and that you are ready to put in the work to succeed in your new role!

How much time should you stay at a job you want to leave?

Typically, you should give at least two weeks’ notice, if at all possible, when leaving a position. If your position is likely to take longer to hire for, you can offer to stay longer if you don’t mind doing so.

You also want to make sure you’ve made adequate plans to meet your financial obligations if you plan to leave before you find a new job. So start by bulking up your emergency cash savings.

Are there other good reasons to quit your job?

Yes, another good reason that you may choose to leave your job could be a lifestyle change. Or perhaps you want to work fewer hours to spend time with your family, or maybe your retirement savings is well-funded, and you find that a part-time job would be a better choice.

How can you prepare to find a new job?

First, determine what kind of work you’d like to do. Then, update your resume to make it stand out and start networking with others in that career field. Finally, start applying for jobs that interest you.

If you can, it’s a good idea to look for a new career and get hired before leaving your old one.

Articles related to leaving a job

• 5 Signs Your Boss Wants You To Stay: Leverage These Signs!
• How I Quit My Job To Run My Business Full-Time
• How To Survive A Job You Hate Until You Can Quit
• 7 Key Steps For Escaping The Rat Race

Leverage these tips for leaving a job the right way!

If you have made a decision to walk away from your current job, the examples and answers in this guide will help you get clear on the various reasons for leaving a job and help you move on professionally.

Choosing to leave a job can be difficult. But having a plan to do it the right way can pay off. It’s also a good idea to review an example of a financial plan to help you stay on top of your finances and be successful with this life change!

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Some brands need no introduction and the unmistakable Louis Vuitton Monogram speaks for itself. The moment that you cast your eyes on that print, you know exactly what fashion house the item has come from. Yes, Louis Vuitton is a designer brand at the peak of popularity, but you might wonder why Louis Vuitton is so expensive.

If you’re considering treating yourself to a luxury product that will stand the test of time, you can’t go wrong with this one. But you may have many questions, such as "why are Louis Vuitton bags so expensive?" or, "how did the brand start?"

In the following guide, we will take a look at a quick history of the epic brand and the reason its products cost so much!

A brief history of Louis Vuitton

In order to understand why Louis Vuitton is so expensive, we need to go back in time. While the globally-recognized Louis Vuitton brand is now known for everything from handbags and shoes to accessories, this story starts with a trunk.

Louis Vuitton's history begins in 1837

The history of the company dates way back to 1837 when Louis Vuitton was just 16 years old and was apprenticing for Monsieur Maréchal in the bustling city of Paris. It was then that the young creative decided that his future lay in becoming a trunk master.

The transportation during this period was boats, trains, and horse-drawn carriages. People who could afford to travel in style often did so with a large trunk in hand. Since the workers handling luggage would toss it around and treat it roughly, it had to be hard and durable.

Under the wing of Monsieur Maréchal, Louis Vuitton honed his skills and quickly became a renowned craftsman. For the following 17 years, he worked on designs including custom-made boxes and trunks. After that, he decided to open his own workshop.

 How the brand grew and gained popularity

The move was a big success, and in 1859 he opened his atelier in Asnières, adding 20 employees to the roster. Fast-forward to 1900 and he had 100 employees and then 250 by the year 1914. You might say that the brand’s success snowballed swiftly.

Soon enough, the Louis Vuitton brand became world famous for its unique canvas: the Monogram. Chances are, wherever you go, people will recognize the distinctive print.

Today, the brand is one of the best-known of our time, worn by celebrities and the elite. From everyday people to the wealthy, everyone recognizes this brand.

Louis Vuitton: meeting the brand

Now that you know the history of the brand, let’s talk about how many of us are introduced to the company.

While Louis Vuitton started out as a trunk master, that is not the first product that most people think about when it comes to this business.

Chances are, the first products you meet tend to be one of the following:

• Handbags and purses
• Shoes
• Accessories
• Ready-to-wear pieces
• Fragrances

So why are Louis Vuitton bags so expensive? While all of the above are high-value retail items, for example, their Carryall PM bag costs ~$2,400,  they are also known as investment pieces.

Choosing to add one of them to your expanding wardrobe may simply be because you love the item. It could also be to help you to cement your style, your interest in luxury, and for some, even their status and wealth.

Why is Louis Vuitton so expensive: 5 reasons

If you’ve got your eyes fixed on a Louis Vuitton bag, some shoes, or even an accessory, there’s one fact that you cannot deny. Buying from this luxury retailer costs more than your average purchase.

And the truth is that when it comes to answering the question, "why is Louis Vuitton so expensive?" there are many factors that determine this hefty price tag.

1. Owning Louis Vuitton brand products is deemed a status symbol by some

First up, there’s the factor that you’re already aware of. When you see someone with a Louis Vuitton bag or accessory, you assume that they have made it.

Over the last century and more, the brand has quickly become a symbol of wealth, status, and power.

It gives people the opportunity to showcase their social standing in a subtle and chic way.

That said, there are those who love the brand simply because of their deep interest in fashion and what the house has to offer. And owning a piece of this luxury makes them feel fashionable.

The rich are always buying luxury goods, regardless of the economy. Those who can truly afford to spend thousands on handbags are very likely in an extremely secure financial position.

2. You pay more for the shopping experience

When you buy a Louis Vuitton product, it’s unlike your standard shopping experience. While many people question why Louis Vuitton is so expensive, one of the main things to keep in mind is that there is more to it than meets the eye.

Experiential shopping is at the heart of the brand

The store assistants and management are well-aware that experience matters, especially for the cost. And so you can expect more than your standard shopping mall experience. In recent years, the brand has invested heavily in experiential marketing.

These include art installations in the stores, the perfectly-pitched ambiance, and a personalized approach. This combination pushes up the brand value.

3. The demand for Louis Vuitton is high

The market value of any product is often down to supply and demand. Louis Vuitton handbags are frequently out of stock. That fact creates a level of desire within the fashion community — with many publications commenting on the issue.

Since there will always be customers figuratively queuing up to buy the products, the prices will remain high.

High demand equals high price points

In recent decades, Louis Vuitton has become the go-to fashion house for influencers, fashionistas, celebrities, and the elite. For that reason, the demand for these products never decreases.

With that in mind, there is simply no reason for the company to lower its prices. The knowledge that the bags and shoes will sell regardless of the price point is enough to keep it high.

4. The brand continually releases innovative designs

Louis Vuitton was historically known for the Monogram and Damier canvases. However, as the brand has grown in acclaim, its designers have continually released remarkable creations.

Particular highlights from the fashion house in recent years include the SC bag designed by Sofia Coppola along with a variety of one-off and limited edition pieces, further answering the question, "why are Louis Vuitton bags so expensive?" Put simply, the designers know how to keep people interested when it comes to new releases.

Production for the products is high quality

Another thing that drives up the price is the way the company makes its products. Louis Vuitton handbags are handmade by highly skilled craftsmen. They use materials like high-quality canvas or leather that make the bags long-lasting and beautiful.

Each of the products is crafted to perfection and also includes a lifetime guarantee.

For that reason, when you choose to invest in a Louis Vuitton product, you know that it will stand the test of time. It couldn’t be further away from fast fashion, further answering the question, why Louis Vuitton is so expensive.

5. Celebrities are often spotted wearing the brand making it seem exclusive

When wondering why Louis Vuitton is so expensive, there’s one thing we can’t ignore: the celebrity factor.

When people see celebrities with these items, they want to quickly emulate their style. That is often enough to boost the sales of the products.

Stars that buy into the Louis Vuitton brand

As Vogue notes, during the 20th Century, some of the entertainment world’s biggest stars, including the likes of Audrey Hepburn, Catherine Deneuve, and Lauren Bacall, would frequently be spotted using Louis Vuitton luggage while on the road.

That trend has followed to the 21st Century. Celebrities from all sectors love the Louis Vuitton brand and it is often the luggage of choice for big names.

Stars including Kim Kardashian, Rihanna, and the Hadids have been photographed with the brand’s products.

Celebrities also flock to wear Louis Vuitton designs and clothing. For example, when Taylor Swift attended the 2022 Toronto International Film Festival, she was wearing a glamorous, golden gown from the brand.

This type of celebrity recognition is one of the core reasons that Louis Vuitton has remained one of the best-selling fashion houses.

There are many reasons why Louis Vuitton is so expensive, and it may be worth the money!

Since Louis Vuitton first started his craft more than a century ago, the company has become something of a household name. And now you know why Louis Vuitton is so expensive!

When you are considering buying from this brand, you are investing in a piece of fashion history. That alone warrants a large price tag.

While the products from the fashion house are costly, they are worth the money. And if Louis Vuitton isn't your style, there are other luxury fashion brands that make amazing products, like Chanel and also Hermes!

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