Clearly, being a parent is a full-time job in itself. And if you’re a single parent, it’s like working overtime, 24/7. Of course, no matter how busy you are with your kids, bills still need to be paid, which is where the best jobs for moms with no degree come in! Keep reading to learn more.

Not having a college degree is not a deal breaker

Working to support your children is a common stress factor for almost all parents. Particularly, if you don’t have a degree, you may worry about what this will mean for your career opportunities, your earning power, and your ability to support your family.

But no matter what you’ve heard, there are plenty of career opportunities that don’t require a college degree. Even if you’re a mom without a degree, you can still make a good living to support your family.

It’s possible to juggle work with childcare

Clearly, trying to find a good work-life balance is hard for everyone. Notably, it’s a particular challenge for women since we often take on more childcare responsibilities than men.

In fact, the Sydney Morning Herald reports that women do an extra hour a day of chores and child care than men do!

Unfortunately, this challenge of work-life balance is further compounded if you’re a single mom. But don’t worry, this list includes the best jobs for single moms with no degree!

Above all, it’s important to remember to not put pressure on yourself to be perfect. Instead, remind yourself that you can find a way to make things work for you—even if you have just a high school diploma.

That said, let’s get into these best jobs for moms.

15 best jobs for moms with no degree

College isn’t for everyone—and that’s okay. Whether you haven’t gone yet or never plan on going, there are plenty of ways to make a living without having a college degree.

These are the best jobs for moms with no degree:

1. Childcare provider

Average salary: $30,000/year

A childcare provider takes care of children—and there are many different ways to do this. For example, you can work for an agency, work as a nanny for a specific family, or even turn your own home into a daycare center.

However, bear in mind that doing so may require obtaining specific licenses depending on which state you live in.

Most importantly, childcare providers often have opportunities to receive discounted child care for their own children, which is a huge win.

Requirements:

• Love for taking care of children
• Licenses if opening own daycare center

2. Customer service representative

Average salary: $39,000/year

Above all, a customer service representative acts as the direct point of contact between customers and a company.

Specifically, you are responsible for helping answer all their questions about a product or service via phone, email, or chat.

Requirements:

• If working from home, will need a strong Internet connection
• Ability to multi-task

3. Sales associate

Average salary: $60,000/year

One of the perks of working in sales is that you can work in almost any industry, e.g., insurance, real estate, medical devices, cars, etc. Moreover, the sky really is the limit when it comes to how much you can earn each month.

Many sales associates work on a combination of a wage and a commission, which means that if you’re good at what you do, then you can really bring home the big bucks!

Requirements:

• Strong communication skills
• Some employers may require sales associate certifications

4. Hairstylist

Average salary: $29,000/year

A hairstylist can shampoo, cut, dye, and style hair. Like many jobs that require no degree, there is a lot of variability in a hair stylist’s salary.

For example, while you may start out at a low salary, with experience, you can end up working at very high-end salons where clients pay three or four figures for haircuts and coloring.

Requirements:

• Haircutting and styling skills
• May require a state cosmetology license

5. Fitness Instructor

Average salary: $46,000/year

In general, a fitness instructor is someone who provides physical training, either in a class setting or one-on-one.

More specifically, a fitness instructor can teach yoga, pilates, weight lifting, aerobics, and basically any kind of physical exercise.

Usually, fitness instructors work for gyms or fitness centers, but you can also start your own business and work as a freelancer.

Starting a business offers a lot of options, so any job that allows you to do that is one of the best jobs for moms with no degree.

Requirements:

• Physical fitness skills
• Relevant certifications

6. Interpreter

Average salary: $57,000/year

First, it’s important to understand that an interpreter is different than a translator. A translator usually translates written texts, which then must be notarized if they’re legal documents.

Conversely, an interpreter translates information out loud in real time. In addition to other places, you may work at a hospital or in a government or education facility.

Requirements:

• Fluency in language(s) other than English
• May require a certification

7. Social media manager

Average salary: $71,000/year

A social media manager must plan, develop, and execute a marketing strategy across different social media platforms. You can work for an agency, just one company, or for yourself as a freelancer. With our go-go-go society and the fast-growing number of social media users, knowing how to use social media effectively is a skill that’s in high demand.

As a freelancer, you can work with almost anyone, including local small businesses and individuals.

Requirements:

• Tech and pop culture savvy
• Familiarity with different social media platforms

8. Graphic designer

Average salary: $49,000/year

Graphic designers combine art and technology to create visuals. Once you start thinking about it, you’ll see the work of graphic designers everywhere!

For example, graphic designers create brochures, logos, advertisements, social media graphics, eBook and book covers, etc. Like many creative jobs that don’t require a degree, you can work for an agency, a company, or for yourself as a freelancer, making this one of the best jobs for moms.

Requirements:

• Technology and design skills
• Special (and often expensive) design software, e.g., Photoshop, InDesign, etc.

9. Writer

Average salary: $59,000/year

If it’s something you’ve read on the Internet, chances are, a writer wrote it. Just think of all those blogs, articles, newsletters, ebooks, and other written content that you see every day… someone has to write it!

Best of all, as a professional writer, you can work with companies to produce content in almost any category, from lifestyle to cooking, fashion, health, tech, etc.

Requirements:

• Writing savvy
• Research skills
• Grammar know-how

10. Photographer

Average salary: $76,000/year

Traditionally, people imagine photographers being hired to work at weddings or take family portraits. But today, the opportunities for photographers are near limitless!

For example, you can work with bloggers, journalists, event planners, fashion designers, and many others. Usually, photographers work as freelancers, so this is also a great side hustle to consider alongside your day job.

And any job that’s a side hustle is among the best jobs for moms with no degree because of how easy it is to make money and have a flexible schedule.

Requirements:

• Photography equipment
• Editing software
• Photography skills

11. Bookkeeper

Average salary: $44,000/year

Basically, a bookkeeper is responsible for monitoring a company’s cash flow. For example, this can mean keeping track of transactions, preserving copies of receipts, etc. As a bookkeeper, you can work directly for a company or start your own business as a freelancer.

Here’s a tip: When it comes to being a freelancer, think local! All businesses need a bookkeeper—and that includes your local, small, mom-and-pop shops.

Requirements:

• Bookkeeping skills (can learn from online courses)
• Attention to detail

12. Data entry clerk

Average salary: $41,000/year

A data entry clerk adds and updates data information in databases. Additionally, you may also be responsible for other clerical activities, like compiling and sourcing data.

Requirements:

• Fast typing skills
• Attention to detail
• May need certain computer programs, e.g., Microsoft

13. Transcriptionist

Average salary: $49,000/year

A transcriptionist listens to audio recordings and transcribes the information, usually into a word processing program, like Word. These are called transcriptions. It’s worth noting that transcriptionists are most often in demand in the medical industry.

Plus, like many other jobs that don’t require a degree, you can choose to work for an agency, for a specific company, or for yourself as a freelancer.

Requirements:

• Fast typing skills
• Attention to detail
• May need to purchase special transcribing equipment

14. Virtual assistant

Average salary: $51,000/year

The virtual assistant market is experiencing rapid growth—and it’s only expected to continue. For this reason, becoming a virtual assistant is one of the best jobs for organized moms with no degrees.

As a virtual assistant, you provide administrative support. For example, typical duties include phone and email management, note-taking, customer service, data collection, event planning, etc.

Of course, these duties will vary depending on your specific employer and whether you work for an agency, one company, or as a freelancer.

Requirements:

• Strong multi-tasking, organizational, and time-management skills
• Basic computer skills

15. Proofreader

Average salary: $58,000/year

Proofreaders are the last set of eyes on text before it gets published. They make sure that everything is grammatically correct, free from errors, properly formatted, etc.

Proofreading is a great job option for moms who love to read. It can also be a good side hustle for stay-at-home moms who are looking to support their families.

Traditionally, proofreaders work in-housing for publishing companies. But with the rise of self-publishing, there are more opportunities for proofreaders to work as freelancers for independent authors.

Requirements:

• Excellent grammar
• Word processing software

16. Shopper

Average salary: The national average is $18.95/hour, though it varies. (Instacart shopper)

Average salary: $33,000/year (personal shopper)

You can work full-time as a personal shopper, and out of the best jobs for moms with no degree, it’s one of the more fun and versatile careers.

For example, you may work as a personal shopper and help clients choose outfits, shoes, and other items like furniture.

Or you can work with a service like Instacart. Essentially, people place their orders online and you are responsible for going to the store, picking up the items, and delivering them to the client. Usually, these orders are for groceries.

Unfortunately, being a shopper gives you little control over how often you can work, so you can’t predict how much you’ll make in a single day. But if you’re looking for a part-time gig, this could be a great option among the best jobs for moms.

Requirements:

• Reliable transportation
• Driver’s license

Finding flexibility in your career as a single mom

Undoubtedly, work-life balance is a challenge for everyone—but you’re playing on an expert level when you’re a single mom.

In fact, according to Harvard Business Review (HBR), “Single mothers who lived alone with their children were more likely than mothers in multi-adult households to say that their work productivity had decreased as a result of their care responsibilities (57% to 47%).”

If you are a single mom struggling with work-life balance, finding flexibility in your work can help make things more manageable.

Additionally, having the option to decide to work from home makes things a lot easier—especially if you can control your own hours and make your own schedule.

A short list of the best jobs for single moms with no degree

Out of the above job options, these are the best jobs for single moms with no degrees who want a flexible schedule:

• Child care provider
• Customer service representative
• Social media manager
• Graphic designer
• Freelance writer
• Bookkeeper
• Data entry clerk
• Transcriptionist
• Virtual Assistant

Expert tip: Look for job opportunities that require professional credentials vs a college degree

Even if you don’t plan on attending college, it’s still a smart idea to continue your education to increase your earning potential. One way to do this (even if you only have a high school diploma) is by pursuing professional certifications.

For example, if you want to become a social media manager, you can bolster your resume with online credentials, such as the Certificate in Social Media from Georgetown University or the SMM Certificate from Cornell University.

While no certificate can guarantee you a job, it can help improve your resume and open the door to new job opportunities.

How do single mothers survive financially?

Life as a single mom definitely comes with certain struggles—especially dealing with living as a one-income household. For this reason, to survive financially, it’s important for single moms to pay close attention to their income and spending.

Start by creating a single-mom budget. If you’re struggling with tracking your money, try using different budgeting tools, budgeting templates, or budget challenges to help you stay focused on your goals.

What career is best for a single mom?

There’s no one best career for everyone. But as a general rule of thumb, the best careers for single moms are ones that offer a lot of flexibility.

On the other hand, the most flexible jobs are often freelancing careers or independent contracting gigs. While these can be great jobs for moms, they also mean you don’t have a steady paycheck every month—or work-sponsored healthcare.

For this reason, more secure but flexible careers for single moms could include being: a sales associate, a customer service representative, a social media manager, or a bookkeeper.

What job has the most flexible hours?

When you’re a do-it-all working mom, flexibility is important—and that goes for your job, too. Some of the jobs with the most flexible hours include being: a customer service representative, a fitness instructor, a graphic designer, a writer, or a virtual assistant.

Plus, if you decide to start your own business, then you can create your own hours and work when you want.

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If you enjoyed this article on the best jobs for moms with no degree, check out this related content!

• The 30 Best Jobs For Stay At Home Moms
• 8 Ways To Create A Winning Single Mom Budget
• How To Afford Being A Stay At Home Mom
• 16 High Income Skills Without A Degree Needed!
• Making Time For Your Finances As A Working Mom

You don’t need a degree to support your family!

You can certainly find flexible, stable work that will help you support your family—even if you don’t have a degree. There are plenty of resources out there to help you get started in your search for the best jobs for moms.

So start thinking about ways to save money as a mom and be sure to learn how to make a great budget. Finally, check out our list of more jobs that pay well even if you don’t have a degree.

The post The 16 Best Jobs For Moms With No Degree appeared first on Clever Girl Finance.

There are many different ways to come up with your perfect budgeting strategy. Alongside your monthly budget, you should also have a bare bones budget waiting in the wings. Even if you don’t need to cut back completely right now, it’s a good idea to know how to create a minimal-expense budget and have it ready so you are prepared in case of a financial emergency.

What is a bare bones budget?

It’s a budget that only covers the necessities. Meaning you will only spend enough money to survive with the basic essentials and fulfill your minimum financial obligations.

With a bare bones budget, you do not leave any room for extra spending.

Sound restrictive? It definitely is. That’s why this is not a plan for better budgeting in the long-term.

In normal conditions, you should also leave space for you to buy things you don’t necessarily need but that you want—like vacations, nights out, and lattes. (That’s right—treating yourself to lattes will not lead to financial ruin.)

On the other hand, this budget is a short-term solution to help you get through a period of financial distress.

Who needs a bare bones budget?

Covering only the bare expenses will help you to significantly decrease your outgoings. While it may seem dire, there are a lot of different reasons why you may need to cut back. 

When you experience income loss

Most often, people turn to a restrictive budget when they need to curb spending because they are experiencing some loss of income. During these periods, you may only have the cash to pay for the essentials. For example, when:

• You lose your job.
• You have a pay cut.
• There is a loss of income in your household.

This is why it’s so essential to have an emergency fund. While cutting back is likely necessary when you lose income, having an emergency fund as a cushion will really help take the pressure off when you’re in a money-tight situation.

When you want to save a lot of money fast

That said, there are also times when you may want to switch to a bare bones budget even when you haven’t lost any income. For example, when:

• You want to get out of debt.
• You want to achieve a specific financial goal quickly.

Swapping your regular budget for a minimal one for a few months can definitely help you slash expenses so you can save up a big chunk of money fast.

When you want to be prepared

Even if you’re not ready to cut back completely, it’s still a good idea to create a bare bones budget.

If you create one before you need it (hopefully, you won’t ever need it!), then you’ll be ready to cut your spending right away in the event of a financial emergency.

How to create a bare bones budget

There are only 3 steps needed to get started. Check out this simple list to help you create a budget without excess.

1. Make a list of your necessities

First, start by printing out all your bank statements and credit card statements from the last month. Doing so gives you a look at your current spending—which may be a lot different than you think.

According to Nerd Wallet, 83% of Americans think they overspend. Be diligent! Look carefully and use a highlighter to identify only the essential expenses.

2. Make a list of what you need to cut

Next, see everything else in your statements that isn’t highlighted? That’s what you need to cut back. Yup, it’s about only covering the basics—nothing more.

In addition, take note of any non-essential expenses that are automatically deducted from your account or charged to your credit card—and cancel them.

3. Use a budgeting tool to stay on track

Finally, use a budgeting tool to document your new budget. Having everything organized and written down will help you stay accountable and stick to your budget. You can use a budget planning notebook or an app if you prefer.

Also, it’s a great idea to give yourself a timeframe for how long you expect to use this type of budget. Remember, a bare bones budget is simply a temporary measure; once you’re out of your money-tight situation, you’ll have to reevaluate your spending.

Key considerations

Everyone’s budget will look different because cutting down on spending looks a little different for everyone.

Of course, there are some general rules of thumb to follow. The following payments are usually necessary costs. They are non-negotiable.

Housing

• Mortgage/rent
• Property taxes
• Homeowners association fees

Utilities

• Heat
• Electric bill
• Water
• Air conditioning

To shrink your monthly bills, try to reduce your use of utilities as much as possible.

Food

Particularly, this is a hard one to whittle down. But when you’re lowering expenses, you need to remind yourself to only spend money on essential groceries.

Believe it or not, according to Recycle Track Systems, the U.S. throws away almost 60 million tons of food a year. That’s a lot of waste—and a lot of lost money!

Fortunately, learning about budget meal planning can go a long way in helping you stick to a tight food budget so you can avoid waste. On top of that, remember to check out what coupons are available at your local grocery store to save more money.

Transportation

• Car payment
• Gas
• Parking
• Public transportation

Debt repayments

Don’t forget to include your debt reduction strategy and repayments in your bare bones budget!

While it may seem like this is something you can skip, doing so will just make your pile of debt grow with increasing interest. Plus, continuing to make debt payments will help you maintain a good credit score even during a money-tight situation.

When you’re trying to lower expenses, just focus on the minimum monthly payments. But if you’re adopting a bare bones budget to save money to pay off your credit card debt faster, then you can reallocate the money you save from other expenses to make bigger debt payments.

Phone

• Reduce your phone plan to the cheapest plan possible

Internet

• Same thing here—reduce your internet plan to the cheapest plan possible

Healthcare

• Medications
• Co-pays for appointments
• Over-the-counter treatments

Insurance

• Health
• Auto
• Life/disability
• Renter’s

Certainly, insurance is something you want to keep—even when you have to switch to a bare bones budget. To help you start cutting back, try calling your insurance providers to see if they have any discounts you can use.

Retirement contributions

Your long-term retirement savings might be impacted by your budget, especially when you are trying to lessen your expenses.

If you still have a job

If you are employed, keep on making contributions to your retirement account. You may prefer to hold off on extra contributions to your retirement account for now, depending on your situation.

But if your employer offers matching in a 401k, for example, then keep contributing at least as much as your employer will match.

If you lost your job

If you don’t have a job and you’ve been contributing to your own traditional or Roth IRA outside of your employer, then you may decide to stop making contributions to your retirement account for now.

That’s okay for a few months—above all, you want to avoid dipping into your retirement savings to cover expenses.

Family expenses

• Daycare
• School tuition
• Alimony
• Child support

Personal care

• Toiletries
• Work clothes
• Haircuts as needed for work

Pet care

• Pet food
• Medications
• Vet bills

Expert tip: Consider minimalism to cut down on your budget

Minimalist spending means cutting back on all the expenses you don’t need to cover. Yet, so few of us actually practice this.

When you are sticking to a strict budget, embrace the opportunity to appreciate the value of things rather than merely the cost. Focus your attention on doing things that add true value to your life rather than being expensive.

That may be reading a good book, spending quality time with a loved one, pursuing your creative passions, or even working on your business. 

Bare bones budget example

Here’s an example of a budget that has only the essentials based on a monthly income example of $3,500. It goes along with the categories discussed above.

The example totals $3,500. You can adjust the expense numbers to fit your personal situation. If you find that you have extra money left, don’t spend it. Save instead, pay off debt, or contribute to retirement, depending on your circumstances.

What you shouldn’t spend on

Now you know what’s essential, but here’s what to avoid adding to your expenses.

• TV
• Streaming subscriptions or cable alternatives
• Music subscriptions
• Any other unnecessary memberships or subscriptions (e.g., magazines, newspapers, gym, etc.)
• New clothing
• Non-essential travel
• Non-essential personal care products (e.g., cosmetics, manicures, etc.)
• Restaurants and bars

Sticking to your budget and splurging

If you’re truly in crisis mode and can only cover the bare expenses, then you’ll need to halt all unnecessary spending.

However, if you’re using a bare bones budget to get out of debt or save for a big financial goal (e.g., a down payment on a house or a wedding), then making room for a monthly splurge can actually be a good idea.

Leaving room for treating yourself to one monthly splurge (like a dinner out or a manicure) can give you a tiny bit of relief from the strict rules you’re following.

How do you successfully stick to a bare bones budget?

To stick to a bare bones budget, first work out what your necessary costs are and ensure you can cover them. All other spending (such as luxuries, entertainment, and non-essentials) will need to go on hold.

Sticking to a bare bones budget can be tough but it is very possible to do with intention and focus. If you are struggling to stop spending, here are some tips that you can try for yourself: 

Keep track of your spending

Do you know where your money is going? If the answer is no, you need to start tracking your spending.

A great way to do this is by leveraging a spending journal where you write down what you spend and then review it at the end of each day. There are also plenty of budget templates and tools you can use to do this.

Remove any obvious temptations

Whether it’s your friends asking you to go on a night out or “window shopping” at the mall, you may be tempted to overspend. Removing these temptations will help you stay on track.

Use cash, not your credit cards

If you usually spend money using credit or debit cards, now is the time to stop. By using cash, you can see exactly where your money is going in real time.

What do bare expenses mean?

Your bare expenses are the payments that you need to make in order to live. They include essentials, such as your housing costs (rent or mortgage), food, medicines and your core utilities like water, electricity and internet.

When you are trying to cut back on spending, these are the costs that are unavoidable, so you need to continue to pay them. 

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If you liked learning about how to budget without excess, check out these posts about budgeting next!

• 12 Tips For How To Drastically Cut Expenses To The Bone
• How To Budget: The 4 Best Budgeting Methods To Try!
• 10 Of The Best Budget Templates And Tools
• 7 Budgeting Best Practices

Prepare now—don’t wait for an emergency to create a bare bones budget

Even if you don’t need a bare bones budget right now, having one outlined and at the ready is always a good idea. That way, if you’re ever in a money-tight situation, you can relieve a bit of the stress by being prepared to cut expenses fast.

Above all, having a good budget (and sticking to it!) is the key to financial wellness—no matter your current financial situation. You can also discover other creative ways to cut back on your budget!

The post How To Create A Bare Bones Budget appeared first on Clever Girl Finance.

When you’re trying to save money, it can feel like you have to put your life on hold. But just because you’re tightening the purse strings doesn’t mean you have to cut into your social life. Actually, you can still enjoy girls day out ideas and have lots of fun, even when you’re on a tight budget.

You can do many things that are inexpensive (or even free!) to spend a fun day out with your girlfriends. Let’s take a look at 24 girls day out ideas on a budget. You’ll want to try these fun ideas! 

1. Volunteer together

The only thing better than a day well spent on fun is a day well spent on fun when you can do some good, too. When it comes to girls day out ideas, it doesn’t get more wholesome than this one.

So for your next day out with the girls, consider doing volunteer work together.

Whether that’s helping out at your local animal shelter, lending a hand in a soup kitchen, or spending time at a nursing home, you’ll finish the day knowing you found nice things to do for people and made a difference in your community.

2. Indulge in afternoon tea

Feeling posh? Unlike a bar crawl that can leave you feeling tired and worn out the following day, afternoon tea is an elegant activity you’ll love.

Indulge in pastries, finger sandwiches, scones, and other mid-day delectables while feeling fancy in your most sophisticated outfit. If you have a sweet tooth, you can even order extra snacks, such as popcorn and chocolate, for the table. 

3. Make inexpensive bouquets

Unleash your inner creativity and try this idea. Making bouquets can be one of the fun and inexpensive ideas for girls day out.

Try getting a group together and heading to a local flower shop or the grocery store. Everyone can purchase some flowers to share.

Then, head back to your house or a friend’s and create your own unique bouquets by sharing the flowers you bought. You’ll each end up with a design you love!

Good items to have on hand for this include vases, ribbons, and scissors.

Additionally, you’ll likely have some great conversations, and you get the chance to be creative. Plus, now you have a bouquet to take home and admire! Nothing helps you start loving your home more than flowers!

4. Take a cooking class with the girls

Whether you’re a total foodie or admittedly lost in the kitchen and thinking, “I hate cooking!”, you can always learn something from a cooking class. You and your girlfriends can get the best tips, tricks, and insider know-how directly from a professional chef.

Best of all, you’ll all walk away with something delicious! Rather than just sharing drinks at the bar, taking a cooking class with your girlfriends gives you something tangible (and tasty) to show for your time together.

I love taking cooking classes and have found that I continue to use what I learn about making specific dishes. Plus, getting together with my friends and cooking is a unique way to catch up and have fun!

5. Go bowling

Believe it or not, this retro pastime is having a moment. However, if memories of stinky shoes and kids’ birthday parties are turning you off, it’s time to get back out by the lanes again.

Not only is a day of bowling a fun, low-key way to relax with your friends, but it’s also a great workout! According to DoveMed, bowling can also help you work on strength, coordination, and flexibility.

6. Awaken your inner child at an amusement park

When did you last go to an amusement park? Even if roller coasters were never your thing, there are still plenty of ways to feel like a kid again at your local amusement park.

Whether you want to show off your arcade gaming skills, catch a great view from atop the Ferris wheel, or enjoy some cotton candy, going to an amusement park is a great way for you and your friends to relive some of your best childhood memories.

7. Start a girlfriends book club

Undoubtedly, life gets busy. And that book from the New York Times Best Seller list on your nightstand? It gets forgotten about.

Reignite your love for reading by starting a book club with your girlfriends.

First, tell everyone to meet up at your favorite bookstore (bonus points if it’s a local business).

Then, take your time browsing the aisles until you all find a book you can agree on. Most importantly, don’t procrastinate!

Next, head to your favorite coffee shop, fuel up on lattes, and get reading together. If you’re looking for girls day out ideas that don’t cost much, this one is a real winner.

8. Visit a museum

You know what they say: “Be a tourist in your own city.”

Too often, we reserve museum days for our best family vacations on a budget and forget about the great museums in our own backyard. For some great girls day ideas, head to your local museums—whether that’s art, history, science, or something else entirely—and learn more about what your local community has to offer.

9. Feel fancy at the theater

No, not the movie theater. The actual theater.

That’s right. We’re talking red curtains, ushers, and (if you’re feeling ostentatious) opera glasses. Why not?

I enjoy going to the theater a few times a year with friends. And to me, one of the best parts of going out at night is getting dressed up, so it’s one of my favorite girls day out ideas. Because when it comes to the theater (even local theater), the invitation calls for cocktail attire!

10. Wake up and watch the sunrise

Looking for girls day out ideas that are free? Look no further.

Rather than staying up all night and sleeping in over the weekend, wake up early with your girlfriends to catch the sunrise.

Pro tip: Head for nature.

You might be near the coast, the mountains, or just near the edge of downtown. But the further you are from the hustle and bustle, the better you can appreciate the calm stillness of the morning sunrise.

Need to motivate a few of your night owl friends? After it’s over, head out for breakfast together, or try some cheap breakfast ideas at home.

11. Picnic with your girls in the park

When looking for girls day out ideas, sometimes it pays to keep things simple. 

Instead of going out to an expensive restaurant or a bar, pack up your picnic basket. Then, head to the park for lunch in the sun.

Better yet, why not spend the whole day lounging outdoors? Bring a book, a Frisbee, and a Bluetooth speaker to turn your local park into a relaxing getaway.

Need some picnic inspiration? Check out these 25 cold lunch ideas your budget will love.

12. Visit your local farmer’s market

There’s nothing better than a fresh, healthy meal. And when it’s bought locally, it tastes twice as nice.

Next weekend, invite your girlfriends to your local farmer’s market.

Nowadays, farmer’s markets often sell more than food. Usually, you can also find fresh flowers, plants, soap, beauty products, pottery, knitwear, and much more.

13. Take a pottery class together

Ready to get your hands dirty? Make today a good day and try signing up for a pottery class with your girlfriends.

You can learn how to make coffee cups, bowls, plates, candleholders, and plant cups… Once you get good at it, there’s no limit to what you can cook up in pottery class!

Even if you don’t walk away loving your creation, your lopsided coffee mug will always remind you of a fun day spent with your girlfriends—and doesn’t that sound better than a plastic Starbucks cup?

14. Host a swap day

Let’s face it. We all probably have more old, unneeded clothes lying around the house than we’d like to admit.

Here’s a way to clean your house, spend the day with your friends, and do good all in one: host a swap day.

Tell your girlfriends to do a closet purge and bring over their unwanted clothes, shoes, bags, you name it. Then, get to swapping!

Trade that dress you bought but only wore once for your friend’s jacket that you’ve always loved but she never wears. Win-win.

15. Watch a local sports game

When it comes to sports, it doesn’t have to be the major leagues for it to be exciting. Days out with the girls are the perfect time to check out the local sports teams.

Is there an amateur hockey game you can attend? A baseball game? A tennis match?

Not only are the tickets cheaper and the crowds smaller (win), but you’ll also have fun cheering for local teams and supporting your community.

16. Start a scrapbook

Of course, everyone has a million photos stored on their phone—but how often do you sit and scroll through your photo library?

Compare that to thumbing through the pages of a photo album, and you know that the nostalgia just feels more real when looking at an aged, printed photo.

You may have a family photo album. But do you have a friend photo album? Now’s the time to get one started!

Head to the craft store with your girlfriends to stock up on supplies. Print pictures at home or a local print shop. And then get to cutting, pasting, and bedazzling your heart out to decorate your new book.

17. Go for a hike

Whether you and your girlfriends are nature lovers or fitness freaks, hiking will satisfy everyone in the group. You can pick a hiking trail based on your desired difficulty level so everyone can participate. No matter how much they feel like sweating it out that day!

Best of all, hiking isn’t just great exercise for the body—it’s great for the mind, too. In my experience, hiking is a great way to meditate. Plus, I find it’s a super easy weekend activity to plan.

18. Discuss your goals

Sometimes, we all need a little push to work towards our goals. And who better to give you the support and encouragement you need than your closest girlfriends?

Meet up at home, at your favorite coffee shop, or out in the park with your friends. Come armed with a journal—and get brainstorming!

Whether you’re checking out examples of financial goals, personal goals, or want to set a professional goal, talking it out with your girlfriends will get you inspired, motivated, and focused to see your goals through to the finish line.

19. Go to a ladies’ Sunday brunch

Let’s call it like it is: Breakfast out is way more fun than dinner out. Better yet, it’s usually cheaper, too!

Next on our list of girls day out ideas, we recommend Sunday brunch. You can go fancy by booking a place at an upscale restaurant.

Or you can go old-school and rustic by heading to your local diner for trusty eggs, bacon, toast, and coffee.

20. Relax with a girls’ spa day

Craving a mani-pedi? There’s no better spa companion than your trusty troupe of girlfriends. For a bonding day that you won’t soon forget, sign up for a day of luxury and beauty at your local spa.

If spa prices have got you startled, don’t worry—you can still enjoy plenty of pampering and R&R at home. Manicures, facials, and pedicures don’t have to cost the earth.

Check out these DIY facial recipes. Take turns painting each other’s nails. And let your stress melt away with relaxing music and aromatherapy—even on a budget.

21. Talk about money

What? Yes, talking about money is actually one of the best ways to spend the day with your girlfriends.

Too often, we’re hesitant to talk about money or are worried about finance—especially women. That’s got to change.

I make it a point to discuss money and finances with my friends, as I think it helps us to learn and encourage each other with saving, budgeting, etc.

For your next day out with your girlfriends, get cozy at your favorite café and get personal! Ask questions, share resources, and discuss finances, like:

• Sharing finances with partners
• How to ask for a raise
• How to invest with little money
• Ideas for better budgeting

22. Go on a girls’ road trip for the day

Who said you can’t take a road trip in a day? Rather than heading to the bar or spending money shopping, treat yourself and your girlfriends to a one-day vacation with a road trip.

Pick a nearby landmark, a museum, or an interesting new coffee shop, and hit the road with your favorite playlist blaring. Or, just get in the car, pick a direction, and start driving. Who knows where you’ll end up?

23. Take a fitness class together

Why not meet up with the girls while getting fitter? One of the best girls day ideas is to get your sportswear on and head to a class together. 

There are plenty of options out there. You may want to attend a yoga class together, go to a Pilates class, or even join a sports team. Think about what type of activity you all enjoy and give it a go. 

24. Host a cocktail-making session

Do you love tasty, classy cocktails? If the answer is yes, why not host a cocktail-making session with your best friends? It’s one of the most creative girls day ideas out there. 

Invite your friends over for an evening and ask each of them to bring ingredients for a cocktail. Take turns whipping up delicious cocktails and sharing them with the group. 

Expert tip: Spending time with your girls helps you bond

Ideas for a girls day out aren’t simply about having a good time. When you spend quality time with your best friends, you have a chance to bond. Research suggests that strong female friendships can improve your mental and physical well-being. 

While you, like me, may have a busy schedule, it’s important to make time for your best friends. I prioritize planning days out and time together, because it helps me create stronger long-term connections! 

What is a good girls day?

There are plenty of ways to have a good day with your girlfriends. Whether you have a movie marathon, give each other manicures and pedicures, head to the farmer’s market, or go wine tasting at local wineries, there’s a whole host of options out there. 

How do you plan a girls outing?

Planning a girls outing can be a fun way to bond. It takes a level of creativity to create a plan that works. First things first, you need to choose the activity and the destination. 

Think about what your best friends like first.

For example, if they are music lovers, you could catch a concert. If they enjoy dining, you can get desserts or snacks at a cafe. 

When you have decided where to go, planning your next girls day should be easy. Make sure everyone is free, set a date in the calendar, and then meet up with your gal pals.

What are some creative girls day out ideas?

If you fancy getting creative, you might want to try something different. You can have a paint party and create your own murals. Think about how you can unlock your inner creativity when looking at girls day out ideas.

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• 20 Inexpensive Thank You Gift Ideas For Any Budget
• How To Set Boundaries In Friendships
• Growing Apart From Friends On Your Financial Journey: How to Deal

Leverage these ideas for girls day out without breaking the bank!

Sometimes, you just need to spend a few days out with the girls. Surprisingly, you don’t need to break the bank to enjoy a day of fun with your girlfriends.

There are also plenty of ideas for fun things to do for free with friends! You can take this a step further for your budget by finding other ways to save and earn, as well, such as the best money-making apps and knowing how to ask for a discount!

The post 24 Fun And Inexpensive Girls Day Out Ideas appeared first on Clever Girl Finance.

Sometimes, making a certain amount of money per hour can be deceiving. After all, taxes and expenses can eat into your income before you even have a chance to make a budget! So if you’ve wondered, “$15 an hour is how much a year?”, we’ve got the answer. Plus, find out how to make the most of your income!

In recent years, there’s been a lot of talk about making $15 the federal minimum hourly wage.

However, some proponents of the elevated minimum wage say it still wouldn’t be enough to give Americans a sufficient living wage.

Many people today already live on this kind of pay. But what is it like to live on this type of income?

Here’s a look at how much $15 an hour will give you and how to stretch those dollars.

$15 an hour is how much a year?

When you hear or read about an hourly wage, it can sometimes be difficult to imagine what that pay would look like as a yearly salary. So let’s calculate how much you would earn per year if you make $15 an hour.

First, let’s assume you work full-time, which is 40 hours per week. That translates to about 2,080 working hours per year. To calculate your yearly salary, then, we can use this equation:

15 (dollars) X 2,080 (working hours) = $31,200

So, if you work full-time for $15 an hour, then your yearly salary would be $31,200.

Bear in mind that this assumes you work a full 40 hours 52 weeks of the year. If you take any holiday or sick time and are not paid for those days, then your actual yearly salary would be slightly less than $31,200.

What does a $15 an hour paycheck look like?

Still, even after calculating the yearly salary of $15 an hour, it can be hard to understand what $31,200 means for your day-to-day life. After all, you’re likely not getting paid $31,200 in one lump sum!

Instead, most people get a paycheck every week or every two weeks. From there, it can be helpful to organize your income with a monthly budget, or you can budget by paycheck.

Here’s what you can expect from your monthly, biweekly, weekly, or daily paycheck:

Calculating $15 an hour per year after tax

Of course, when you work for $15 an hour and make a $31,200 salary, you (unfortunately) don’t necessarily get to keep all that money.

It’s important to remember that there is a difference between pre-tax income and after-tax income. This is a crucial component in answering the question: $15 an hour is how much a year?

Federal income tax

In 2024, if you make $31,200 per year, you fall into the second-lowest income tax bracket, as explained by Bankrate. This means you are responsible for paying:

• $10% of your taxable income from $0 to $11,600
• 12% of your taxable income from $11,601 to $47,150

In other words, if you make $31,200 per year, then you will have to pay:

• $1,160 (which is 10% of $11,600)
• PLUS $2,351 (which is 12% of $19,599 (Remember: $31,200 — $11,601 = $19,599))

Added up, this means you are responsible for paying $3,511 in federal income tax. (This is based on a single-filer tax bracket.)

After accounting for federal income tax, your $15 an hour income comes down to approximately:

• Yearly: $27,677
• Monthly: $2,306
• Biweekly: $1,153
• Weekly: $532
• Daily: $106

State income tax

But that’s just federal income tax. Don’t forget about state income tax!

Depending on where you live, though, you may not have to pay state income tax. CNBC lists the nine states without income tax:

• Alaska
• Florida
• New Hampshire
• Nevada
• South Dakota
• Tennessee
• Texas
• Washington
• Wyoming

If you live anywhere else in the country, however, you’ll be on the hook for paying state income taxes. You can get help figuring out the income tax rate in your state at TaxFoundation.org.

Use a calculator to figure out your income at $15 an hour

Understandably, it can get pretty confusing trying to figure out how much this income is per year, monthly, and weekly. Plus, when you factor in determining federal and state income tax rates … It becomes a lot of math!

If you’d rather not do all the calculations by hand, you can use an income calculator to help you crunch the numbers:

• A salary calculator helps you determine your yearly salary based on your monthly wage and days worked
• A take-home pay calculator helps you determine your “real pay” after taking out taxes

Expert tip: You can stretch your income by investing!

Unfortunately, many people falsely believe that they already need to be rich to start investing. But in reality, you can invest smart with as little as $10 a month, and then work your way up from there.

To get started, it’s best to keep things simple. For example, for an uncomplicated way to begin investing, consider the 3 fund portfolio. See more tips on how to invest with little money.

6 Tips to stretch your income

Realistically, no matter how you look at it, earning this income alone is not going to make you rich. That said, you can still work with what you have to stretch your $15 an hour income and get the most out of every penny.

Here are a few tips to stretch your income:

1. Create a budget

First, you can optimize your $31,200 yearly salary by breaking it down month by month. Creating a budget for the month will allow you to allocate your income to separate spending categories. This way, you can make sure you don’t overspend on frivolities and really maximize every dollar.

You can try creating a budget calendar or making a budget by paycheck to get started.

2. Move somewhere with lower rent

Of course, this is quite a drastic option. But depending on your family situation and whether or not you have a remote job, moving to a state with no income tax can definitely help you keep more money in your pocket.

Alternatively, you can stay in the same state where you’re currently living but move to a home with lower rent. Finally, you can also move in with a roommate to cut down on your share of the monthly rent by doing a rent split.

3. Cut unnecessary expenses

It’s not always fun, but cutting out those nice-to-haves from your life (at least most of them) is sometimes necessary when you’re trying to stretch a dollar. Start by checking your monthly expenses list to see if you can cut back on anything.

But it doesn’t have to be as painful as you think! For example, here are some easy ways to reduce unnecessary expenses:

• Unsubscribe from subscriptions you don’t use
• Limit yourself to eating out once a week at the most
• Paint your nails at home instead of going to a salon
• Go to the library to rent books or e-books instead of buying them new
• Use public transportation or a bicycle instead of calling ride-share services

4. Live below your means

No matter how much money you make, it’s always a good financial practice to live below your means. But what does that mean, exactly?

Living below your means is about spending less money than you bring in. Then, you can put aside that extra money in a high-yield savings account or investments.

Above all, it means you do not go into debt to buy things you can’t afford. You might try living a more minimalist lifestyle for the time being.

5. Spend wisely at the grocery store

To stretch your income, it’s a good idea to eat at home as much as possible. Beyond simply avoiding take-out and restaurants, you can further learn how to reduce your food spending by being thrifty at the grocery store, like buying in bulk or meal-prepping.

Grocery shopping on a budget can save you tons of money each month, it just takes some planning and time.

6. Avoid impulse purchases

Unfortunately, even when you create a monthly budget, it isn’t always easy to stick to it. One of the hardest financial bad habits to overcome is giving in to impulse spending.

You can get help avoiding impulse purchases by getting an accountability partner to help keep you in check when you’re about to hit ADD TO CART.

Additionally, you can start money journaling, where you write down every single thing you spend. This can help you hold yourself accountable so you don’t conveniently “forget” about those impulse purchases you made last week.

A monthly budget for a $15 an hour income

Again, creating a monthly budget is an important practice for everyone—no matter what your income is. But if you’ve answered the question of $15 an hour is how much a year and you’re trying to stretch your income, then designing a monthly budget can really help you stay organized and financially responsible throughout the month.

Here’s an example of a monthly budget for a $15 an hour income:

Monthly after-tax income: about $2,300

• Savings: $350
• Rent: $800
• Utilities: $100
• Transportation: $300
• Groceries: $300
• Fun: $150
• Other Expenses: $300 (This could be debt payments, savings for a specific goal, medical bills, insurance, etc.)

Note that we put savings right at the top! Even if you only save 10% of your income per month, paying yourself first is a great financial habit to pick up.

Also, remember that everyone’s budget will look a little different. You may even decide that a biweekly budget makes more sense for you.

Take a look at the best budget templates and tools to learn how to create the right monthly budget for you.

Ways to make more money to supplement earning $15 an hour

In addition to discovering ways to reduce your spending, you can also stretch your money by looking at how to increase your income.

And you don’t necessarily have to take on another high-commitment job! Here are a few ways to increase your income:

1. Sell unneeded items online

You can make a surprising amount of money by just cleaning out your house! Take a look around and consider what you no longer use.

For example, this could be old electronics, clothes, books, etc. After you find the best items to resell, sell them online via eBay, Poshmark, or other online resellers. You can also host a yard sale if you’d prefer to sell in person.

Above all, be careful that you do not start buying items you don’t need hoping you will sell them later.

2. Ask for a raise

Sometimes, it really can be that simple. While it can definitely feel daunting to ask your boss for a raise, the worst they can really do is say no.

To increase your chances of a positive response, it pays to be prepared. (No pun intended.) Find more tips on how to ask for a raise.

3. Consider a side hustle

The best thing about starting a side hustle is it gives you a way to increase your income without having to commit to another job.

Instead, a side hustle is a way for you to pick up extra work when you decide, so you can put more money in your pocket.

For example, some popular side hustles include:

• Babysitting
• Dog walking and/or pet-sitting
• Driving for Uber or other ride-share or delivery companies
• Starting a blog
• Tutoring
• Teaching English online

If none of these seem like a fit for you, don’t worry. There are a lot of other side hustle ideas you can start in your free time.

How much is $15 an hour for 40 hours?

$15 an hour for 40 hours is $600 before tax.

Most full-time jobs require you to work 40 hours a week, excluding any needed overtime. But if your weekly paycheck is deposited automatically into your account and you’re not regularly checking your bank statements (Psst—start now!), then you may not know the exact number you’re bringing in every week.

Here’s a quick calculation to determine how much you’ll make if you work 40 hours for $15 an hour: 15 (dollars) X 40 (working hours) = 600.

Is $15 an hour good pay?

Determining whether $15 an hour is good pay depends a lot on your living situation. If you’re single, you don’t have any debt, and you live in an affordable town, then it is not bad pay.

If, however, you live in a city with a high cost of living, you are responsible for dependents, and/or you have debt stress, then $15 an hour will put you on a very tight budget.

How much is $15 an hour for 40 hours a week annually?

$15 an hour for 40 hours a week annually will earn you $31,200 before tax.

Maybe you know the exact amount of your weekly paycheck by heart—after all, it feels good to cash that baby after a long week of work! But it’s also important to keep an eye on the big picture:

How much do all those weekly paychecks add up to after a year?

Here’s a quick calculation to determine your annual income if you work 40 hours a week at $15 an hour: 15 (dollars) X 40 (working hours) X 52 (weeks) = 31,200.

$15 an hour is how much per week?

Here’s a quick calculation to determine your weekly paycheck if you make $15 an hour: 15 (dollars) X 40 (working hours) = $600.

As you organize your monthly budget, it’s important to break up that monthly income into smaller installments: biweekly, weekly, and daily. Particularly, knowing how much you earn each week can help you best allocate weekly money for groceries, at home date night ideas, etc.

How much is $15 an hour 40 hours a week biweekly?

If you work 40 hours a week for $15 an hour, you will make $1,200 biweekly, before tax.

This is accurate because if you work 40 hours a week and earn $15 an hour, you will make $600 per week before tax.

Many employers will issue paychecks biweekly (i.e., once every other week) instead of weekly. Sometimes, this makes calculating your regular income a little more complicated.

Here’s a quick calculation to determine your biweekly pay: 15 (dollars) X 40 (working hours) X 2 (number of weeks) = $1,200.

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Make your $15 an hour paycheck work for your lifestyle!

Now that you know the answer to $15 an hour is how much a year, if you’re feeling stuck living with this salary, then know that there are a lot of ways you can stretch your income.

First, if you set and stick to a budget, then it will be easier to manage your expenses throughout the month. Then, you can find ways how to increase your income, such as starting a side hustle.

Learn how to create a successful side hustle so you can make more money in The Side Hustle Guide by Clever Girl Finance Founder Bola Sokunbi. And remember, being wise with your money and investing can set you up for a great future!

The post $15 An Hour Is How Much A Year? Stretching Your Pay! appeared first on Clever Girl Finance.

On your road to building financial wealth and developing your financial wellness, one of the most important things to remember is to diversify, diversify, diversify. Diversifying includes broadening your investment portfolio to include highly liquid investments.

Liquid investing offers the opportunity to build your wealth while keeping your funds easily accessible. With the help of liquid investments, you can steadily grow and track your net worth without tying up all of your funds in an inaccessible investment opportunity.

Not sure where highly liquid investments have a place in your portfolio? Here’s your primer on the subject, along with some of your best options to consider to get started!

What is the definition of liquidity?

To fully understand what liquid investments are, it helps to understand liquidity.

What does liquid net worth mean, and what does liquidity mean? Liquidity means you have a sufficient amount of accessible liquid assets that you can easily convert into cash. E.g., your liquid net worth, when you add all of your liquid assets together and subtract your liabilities.

Liquid investments are types of investments that you can smoothly convert to cash. 

For your day-to-day life, this basically means you have enough cash (or cash equivalents) on hand so you can pay all your expenses on time without bills piling up.

The ease of access makes a liquid investment a great place to store your emergency fund. Another useful purpose for a liquid investment is a place to build your savings as you work towards a major purchase, such as a car or a down payment on a home.

On the other hand, an illiquid investment would require you to relinquish regular or easy access to the funds in favor of a higher potential return. It could also mean that if the investment has a short term decline, you may lose money if you liquidate it at that time.

Highly liquid investments 101

As you know, liquid investments are assets that can easily be converted into cash in a short amount of time with little to no decrease in their value. Highly liquid investments, on the other hand, are simply assets that can be most easily and quickly converted into cash.

You may also hear highly liquid investments referred to as cash equivalents. This is because people can usually have confidence that they can easily exchange their liquid investments for cash at any time, whenever they need.

But there’s more to liquid investments than just being cash equivalent.

Factors that make an investment liquid

In order for an investment to be a highly liquid investment, it must meet a number of factors:

1. The asset must be in an established liquid market.
2. The asset must maintain a large number of readily-available, interested buyers.
3. The asset must be able to be transferred easily and securely and also maintains its value.

Why are highly liquid investments important?

If you’ve done any reading about why personal finance is important and how to strengthen your personal finances for today, tomorrow, and the future, then you’ve undoubtedly read about the importance of investing in retirement accounts, which is different from liquid investing.

But while fattening up your retirement accounts and investing smartly to plan for retirement savings should certainly be a top priority, you also need to think about the here and now.

Being prepared for the near future makes highly liquid investments very important.

Low-risk investing for the near future

Owning liquid investments means that you can pay for your living expenses today. It also gives you a comfortable cushion to prepare you to pay for any emergencies that may come your way.

Liquid investments are a great tool when you’re saving for a short-term financial goal. This means you can incrementally grow your funds and then still easily access the cash you need in the near future. It also gives you an opportunity to learn how to start investing but with low risk.

How near is the near future? Liquid investments are a good option when you want to be able to use that cash in less than three years.

The easy access to cash makes highly liquid investments a great option for saving for things like an emergency fund, a down payment for a new house, or a wedding.

The downside to highly liquid investments

Remember the first rule to investing: diversify, diversify, diversify.

Although liquid investments can be very advantageous and should definitely make up a portion of your overall investment portfolio, you definitely do not want to rely solely on liquid investments to build your wealth.

What’s the catch with highly liquid investments?

Well, the more liquid an asset is, the less its value will increase over time.

For example, suppose you’re saving up for a big purchase in the near future.

You may choose to maintain some funds in cash, one of the most highly liquid investments. But over time, the cash won’t be able to compete with inflation. Inevitably, its purchasing power will decrease as the years go by.

This is why preparing for retirement is about more than just saving cash—it’s about investing wisely with various types of investments.

To grow your wealth over time and build long-term financial health, the key is to have a mix of different assets. These assets include highly liquid investments, among others, like passive real estate investing or even investing in cryptocurrency.

As with all financial choices, there is a balance between risk and access. You’ll need to decide for yourself which portion of your portfolio will be curated as liquid investments.

12 Highly liquid vs short term highly liquid investments

Of course, not all liquid investments are the same. Some assets are more liquid than others.

For instance, there are highly liquid assets and short term highly liquid assets.

The biggest variable among liquid investments is the time to conversion. Which just means how easy it is and how long it takes to convert an asset to cash. And the easier it is to convert an asset to cash, the more liquid it is.

Short term highly liquid assets and accounts

Short term highly liquid investments can be accessed quickly and easily. They may be switched to cash within a year or less, although you can hold onto them as investments for longer if you want.

1. Cash

Cash is the most liquid asset among short term highly liquid investments. You can either hold the physical currency yourself or easily access it via ATM withdrawals.

The downside to cash is that you aren’t earning any interest, so it will be difficult to keep up with inflation.

2. Treasury bills and treasury bonds

Treasury bills, also called T-bills and treasury bonds or T-bonds, are highly liquid assets that are some of the most stable kinds of bonds, as the United States government itself backs them up. Holding on to the bond will earn you interest up until the maturity date.

But if you need cash fast, you can also sell them sooner, making them incredibly versatile.

3. No-penalty certificates of deposit

Wondering what is a certificate of deposit? It’s a way to save money and earn interest at the same time through your bank, but in a relatively risk free way. You leave your money in the account for a set time and earn interest.

With certificates of deposit (CDs), you can usually earn higher interest rates than you would with a standard savings or checking account. The catch? It’s usually more difficult to withdraw from a CD before its maturity date.

But if you invest with a no-penalty CD, you can tap into your funds more easily as a short term highly liquid investment, without having to pay a penalty if you withdraw early.

4. ETFs

With exchange-traded funds or ETFs, you can invest in multiple stocks instead of the stocks of just one company. But don’t forget—ETFs are just as volatile as the market.

There’s no telling whether your ETFs will be worth more or less when you’re ready to sell them. But you are able to sell them freely whenever you need the cash i.e. ETFs can be traded anytime during the trading day from 9.30am to 4pm EST. This makes them an important liquid investing option.

5. Money market funds

These are mutual funds that invest specifically in highly liquid, near-term investments. Investors will turn to money market funds because they offer high liquidity with very low risk, so they’re a great option if you need to save for a short-term goal.

Money market funds should not be confused with a money market account, which is a sort of savings account that also allows you to earn interest.

6. Interest-bearing checking account

Checking accounts come in second after cash as being the most liquid asset. While checking accounts aren’t usually a place for investing, there are some options that offer interest.

Some offer up to 5.3% APY, so it is worth considering if you need access to funds, but you don’t want to forego the opportunity to make some interest.

7. High-yield savings accounts

A high-yield savings account will also offer a high interest rate, but it will be slightly less liquid.

For example, banks may restrict your number of monthly withdrawals.

But it is still relatively easy to withdraw your money with this type of account, and you can find many accounts with a competitive APY.

Mid to long term highly liquid assets and accounts

Mid to long term highly liquid assets and accounts can still be accessed relatively quickly and easily but often not as fast as those listed above. They are an important part of a diverse portfolio or an all weather portfolio, and you should consider a few of them.

8. Certificates of deposit

We already know that CDs are a great option for a highly liquid investment. If you don’t need a short-term, highly liquid asset, you can forgo the no-penalty CD for a traditional option. Terms from a CD can range from 6 months to 5 years.

You can decide in advance how long the term is before you can remove your funds from the CD.

CDs can earn you a good APY, sometimes up to 5.35%!

9. Individual stocks

Individual stocks are some of the easiest investments to liquidate—but they are also the most volatile. Meaning you may face a loss if you need to liquidate your assets while the stock market isn’t in your favor. It’s important to learn how to research stocks before you begin investing.

Since they are volatile, stocks are not the safest choice for building an emergency fund, but they are still an important part of building a diversified portfolio, especially with liquid investing.

To get started with buying stocks in companies, you might talk with a financial professional, set up a brokerage account, or choose a robo advisor. And there are different stock options, such as individual stocks and also stock mutual funds or ETFs.

10. Funds (Index funds and Mutual funds)

A lot of investors like investing in funds like index funds and mutual funds because they offer an easy way to diversify your investments. A fund can invest in an aggregate of bonds, stocks, etc., by grouping your money with other investors’ money.

The catch is, though, that with index funds and mutual funds only trade once per day at the close of the market, making them slightly less liquid than ETFs or stocks. Mutual funds are also known to have higher management fees than index funds.

11. Taxable investment accounts

Taxable investment accounts can hold stocks, bonds, ETFs, Index funds and mutual funds. You can open this kind of account via a brokerage. Once you sell your assets, they’ll be available as cash, usually within days.

Remember, though, that your assets will be vulnerable to market conditions, so you may have to sell them at a loss in some cases.

12. Precious metals

While not a popular choice for investing, precious metals can actually be both liquid and illiquid investments.

Whether they are liquid or not depends on several things, including where you store your metals and how readily you can find dealers to make an exchange for cash.

Expert tip: Know your risk tolerance

Before you decide to invest any money, you need to know how comfortable you are with risk. Take some time to evaluate if you prefer low risk options like bonds, CDs, and high-interest accounts, or if you are okay with riskier investments such as stocks.

Ideally, you should have a good mix of different types of investments, but you need to know what will work for you and what won’t before you begin.

When does it make sense to pursue a liquid investment?

It makes sense to pursue a liquid investment when you may need to tap into the funds at short notice.

With that, these investments are best if you are saving for a big purchase or want to have quick access to cash as a part of your emergency fund.

They have their place in any financial planning process. But you should also consider illiquid investments that could provide higher potential returns.

What is the most liquid investment?

The most liquid of all the assets you can have is cash, and the most liquid of investments that hold cash and are still highly liquid include interest bearing accounts, no-penalty CDs, bonds, ETFs, and money market accounts.

These all earn interest and give you the option to easily withdraw funds, but some are more volatile than others.

What is liquid vs non liquid investments?

A liquid investment vs non liquid investment is defined by how easy it is to withdraw your money. Liquid investments make it easy to get cash quickly.

Non-liquid ones are not as easy to withdraw from, and there may be fees involved in some cases.

With a non-liquid investment, you may be forced to accept less money than you’d like for a sale if you’re thinking, “I need money desperately!” as is the case with real estate, etc. And getting cash will be a slower process.

Then there are illiquid assets (or nonliquid assets). While illiquid assets can make up a very valuable part of your overall portfolio, you can’t easily convert them to cash or sell them without taking a loss on the sale.

Examples of illiquid assets might be collectibles, estates, or other intangible assets.

Are liquid investments better?

There are some circumstances where liquid investments are better, including if you need the cash quickly or aren’t sure when you will need it.

But non-liquid ones also have their place, especially when it comes to growing your money long term and you should have a combination of both for a diversified portfolio.

What does it mean to be highly liquid?

Highly liquid means that you can easily convert the investment to cash without losing money in the process. You should be able to get your money back in a fairly quick and convenient manner.

Having highly liquid assets is a smart idea when you want to make some interest but also have access to your cash at all times.

Articles related to highly liquid investments

If you enjoyed reading about investments, read these articles next!

• What Does Liquid Net Worth Mean And How Do You Calculate It?
• Overall Net-Worth VS Liquid Net-Worth: There’s A Difference!
• 10 Most Useful Personal Finance Ratios And How To Apply Them
• What Are Investable Assets And How Can You Build Yours?

Meet your financial goals with highly liquid investments!

Liquid investments make up a key part of any healthy financial portfolio. You can leverage them to achieve your short terms goals while adding additional diversity to your investments.

Start by doing your research on the different types of highly liquid investments, including short term ones, and then chose one (or several) to invest in. You can then add on additional investments as you feel more comfortable.

As mentioned, having these investments is an essential part of any portfolio, but it is just one step in the process of getting rid of financial insecurity. Continue to learn more about how investing works and how to build your financial wellness.

The post 12 Highly Liquid Investments To Have appeared first on Clever Girl Finance.

If you want to start a cleaning business, by creating an executable strategy, it won’t be too long before you’re on your way to becoming a successful entrepreneur. Unlike a lot of other business ventures, it doesn’t require a lot of up-front costs or training, and you can count on a steady demand for cleaning services over time. To launch your business this year, leverage these key tips on how to start a cleaning business!

1. Conduct market research

No matter what business venture you pursue, market research is always a critical first step and this applies to starting a cleaning business. After all, you want to know what market you’re getting yourself into, right?

First, we recommend getting to know the market. Look at other cleaning businesses in your area—and even other cleaning businesses around the country.

Ask yourself questions like, “What types of cleaning services do they offer?” and “What are their rates?” Leverage what you find out to narrow down the services you’d like to offer and the rates you’d like to charge.

Then, get to know the job itself. Research the daily duties of what it takes to run a cleaning business to see if it’s for you.

Leverage platforms like YouTube to gain some insights on what a day as a professional cleaner looks like in real life.

Finally, get to know your own skills! Offer to clean a friend and/or family member’s house(s) to get honest feedback on your work and learn what you need to improve before working with clients.

2. Pick your niche

Cleaning may seem simple, but it can really get specific! If you didn’t already know, there are many different kinds of cleaning you can do for many different kinds of clients.

To narrow it down, first, decide if you want to specialize in commercial or residential cleaning.

Residential cleaning

Cleaning individuals’ homes (i.e., residential cleaning) is often the easier pick when you’re trying to figure out how to start a cleaning business. People’s houses are typically much smaller than big businesses. Plus, residential cleaning jobs usually require less equipment and simpler cleaning supplies.

As a residential cleaning business, working with just a few weekly clients on a fixed schedule with a time management plan is all you need. You’ll quickly start making a reliable income.

However, it’s worth noting that residential cleaning requires greater attention to detail; you’ll have to remember exactly how clients have arranged their homes so you can put everything back in the right place when you’re done cleaning.

Commercial cleaning

If you start a commercial cleaning business, then your clients will likely be schools, hospitals, businesses, and other commercial sites.

Note that these clients are harder to get for newer businesses, as they often contract with well-established janitorial companies. Plus, commercial cleaning usually requires heavy duty cleaning equipment and a large team to get the job done.

If you’re interested in commercial cleaning, you can get started by contacting smaller, local businesses first.

3. Choose your services

Once you’ve determined whether you want to focus on residential cleaning or commercial cleaning, it’s time to narrow down your specific cleaning niche.

For example, consider some popular cleaning services you can offer:

• Pressure washing
• Carpet cleaning
• Window cleaning
• Basic cleaning
• Deep cleaning
• Spring cleaning
• Move-out cleaning
• Laundry
• And more

As you decide on your list of services, think about what kind of equipment you’ll need for each offering. It sounds obvious, but don’t forget to ask yourself (honestly) whether or not you have the skills to provide all these services well.

It’s easy to be ambitious as you decide how to start a cleaning company. But remember that you can always add more services as you grow your business.

In the beginning, it’s better to do things differently by starting small and providing services that you know you can do well.

4. Register your business

Maybe you chose to begin your cleaning business because it’s one of the easy side hustles. Even if you only make a few hundred dollars a month, you need to register your business—and report your income to the IRS.

To begin, decide what form your business will take. A sole proprietorship, or maybe an LLC (limited liability company), a partnership, etc. The U.S. Small Business Administration website offers insight on how to pick the business structure that’s right for you.

Depending on the kind of business you decide to register, you may also need to create an EIN (or an Employer ID Number) for tax purposes. You should apply for an EIN online with the IRS.

Next, you may also want to trademark your business name and/or claim your business’ domain name so you can create a client-facing website.

Dealing with business registration and all the legal stuff can be overwhelming. But taking the time to do the research and making sure all your ducks are in a row will help you avoid unwanted fees and/or penalties in the future.

Pro tip: Check out the SBA.gov tips on how to register a business with both federal and state agencies.

5. Don’t forget about insurance

Like business registration, make sure you prioritize insurance when you’re researching how to start a cleaning company.

While not all states require you to have insurance if you want to open a cleaning business, it’s definitely recommended! As a business owner, having insurance is key to protecting both you and your employees in the event one of you accidentally causes damage to an employee’s home.

For example, as a cleaner, you may be at risk of starting a fire, breaking something, causing a leak, etc.

With the right insurance, you can protect yourself from going into debt to pay for all these repairs yourself.

For your cleaning business, consider the following types of insurance:

• General liability
• Business owners’ policy
• Workers’ compensation (if you hire employees)
• Employment practices liability

6. Obtain a business license

In addition to registering your business, you may also need to get a business license to legally found your cleaning company.

Again, to figure out what licenses are needed to start a cleaning business, you’ll need to research the specific laws of the state you live in. Leverage the resource on SBA.gov to get started with setting up the business licenses you need.

In most cases, you’ll have to pay for your business license up-front—and then pay to renew it every year. While this may seem like a headache, this is one step you do not want to skip. Operating a business without a license can result in fines or other penalties down the line.

7. Finance your cleaning business

When wondering how to start a cleaning business, you should know that they do have lower up-front costs than other businesses, but you will still have some start-up expenses to get your new venture up and running.

For example, in addition to buying cleaning supplies and equipment, you’ll also have to consider the price of advertisements, business registration and license fees, insurance, etc.

To make things easier on your budget, remember that you can start small with just the bare minimum expenses and then scale up later as you get more clients.

If you lack the funds to get started, consider turning to friends and/or family to borrow the money (although loaning money to family can be challenging), taking out a business loan, or spending on credit.

Alternatively, if you’re not comfortable asking friends or family for help (and the idea of taking a loan or spending on credit makes you nervous), you can also save up to fund the start-up expenses yourself.

If that sounds overwhelming, don’t stress! This is definitely a doable goal. The key is to break up your spending goal into smaller, more manageable chunks.

For example, you can learn how to save $5000 in 3 months.

8. Create a budget

Give yourself a pat on the back for successfully managing your start-up finances … but don’t stop there! I recommend staying on top of your goals for a small business, especially business finances, every step of the way.

For example, as a business owner, I would need to monitor cash flow, taxes, expenses, invoices, etc.

Set up a business bank account

When you start your own business, it is key to separate your business finances from your personal finances.

The easiest way to do this is by getting a bank account.

However, you don’t have to spend money on a special “business” bank account; rather, simply having a separate personal checking account will work just fine. Use this separate account to accept payments from clients, pay taxes, and spend money on cleaning supplies and other business expenses.

Keep track of income and expenses

You might be well versed on how to budget and budget categories from a personal finance perspective. Now, leverage those same budgeting skills to manage your business budget.

You can use dedicated business management software (like HoneyBook or Quickbooks) or go simple (and free) by using Excel or Google spreadsheets (Check out the free Clever Girl Finance business spreadsheets in our worksheet library).

At the end of the day, any of these work just fine. What’s most important is that you track all your income and expenses and use this information to pay taxes throughout the year.

Manage invoices and receipts

With income and expenses comes managing invoices and receipts. While this may not be the sexiest part of being a business owner, it is of utmost importance—and unavoidable!

Again, you can leverage business management software to automate invoices for you. But if you’re on a budget, you can also DIY invoices for free. Try using a graphic design tool (like Canva) to help you, or just work in a free Microsoft Word invoice design template.

For tips on creating an invoice customized to your needs, head to Zapier for ideas on how to create a professional invoice.

Along with your invoices, remember to hold on to all business receipts. If you have paper receipts, consider scanning them and storing them digitally to keep everything organized.

Trust us—developing a system for storing invoices and receipts will make your life much easier come tax season!

9. Buy cleaning supplies

The specific cleaning supplies you’ll need will depend on the services you’ve chosen to offer when deciding how to start a cleaning business.

In general, here’s an overview of some of the cleaning supplies you can expect to put on your shopping list.

• Vacuum
• Face mask
• Rubber globes
• Trash bags
• Cleaning rags
• Mop and bucket
• Sponges
• Bleach
• Cleaners for different surfaces e.g. glass, wood, granite, etc
• Spray bottles

Remember that you don’t need to buy everything all at once. If your start-up funds are low, just start small. Prioritize which supplies you need the most, and then scale up your supply inventory as you grow and take on more clients.

Don’t forget that you can often get supplies at a cheaper rate by shopping from wholesale vendors. (Bear in mind, though, that these vendors will often want proof of your business registration before processing a sale.)

Some clients (especially residential clients) may request that you use their own cleaning supplies—which is an opportunity for you to charge them an extra fee.

10. Decide on your rates

Here is where your market research comes in handy. When it comes to how to start a business from scratch, you’ll need to set your own prices.

To get an idea of how to set the rates for your cleaning company, check out what other cleaning businesses in your area charge.

When it comes to nailing down a price, there are several different ways to set rates: by the hour; by the square foot; by the room; or by a flat rate.

For commercial cleaning services, it’s not uncommon for cleaning companies to charge by square foot. For residential cleaning, on the other hand, it’s common to charge by the hour or a flat rate.

To help you set flat rates, first, figure out how long it will take you to do the job. Then multiply that number by your typical hourly rate. After that, increase the price to offset fees for transportation, cleaning supplies, taxes, etc.

11. Advertise your cleaning business

No matter what business you decide to launch, you will have to advertise to get your name out into the world. And advertising your business is not just a start-up activity.

Instead, think of advertising as an ongoing practice—something you do whether you have clients or not.

Set a foundation for your advertising efforts by creating a website for your business, as well as a Facebook business page and a Google business profile. This will help you with how to get clients online for your new business.

Then, establish an online presence on social media. You don’t need to be present everywhere; instead, it’s best to only set up an account where you will be active. Facebook is a great option for a cleaning business because you can join local community groups to get your name out in places close to you.

You can also go old-school by advertising your cleaning business in local business directories and at places like the bulletin boards at your local grocery store or YMCA.

12. Find (and keep) clients

Once you’ve laid the groundwork, have discovered what licenses are needed to start a cleaning business, and know how to begin, it’s time to get out there and start making money!

In other words, you’ve got to hit the ground running to look for clients. Here are a few tips to get started:

Leverage your local network

When your business is just starting out, there’s no shame in turning to your friends and family for support. Ask them if they know anyone who needs cleaning services and if they would be willing to recommend you.

Here are a couple of networking tips: Always remember to carry your business card with you and share readily. (But don’t be too pushy—because an over-the-top salesperson is also a turn-off to potential clients.)

Finally, try reaching out to local businesses in your community and ask if you can put a flyer in their shop window. You never know who might see it!

How to find your first clients

Besides leveraging your local network, you can also find your first clients for your cleaning business online.

For example, Care.com, also TaskRabbit, and Handy are all reputable websites where you can find people looking for cleaning services.

Position yourself for referrals

As your business grows, you’ll likely find that most of your new clients are referrals—that is if you do a good job.

The key is to position yourself for these referrals.

When you work with your first clients, ask them if they would be comfortable sharing their contact info and serve as references. References are important for owners of cleaning companies. Prospective clients want to know that they can trust the person they’re letting into their home!

13. Create a cleaning schedule for your business

As your client roster grows, organization will be a key element in the success of your cleaning company.

After all, you don’t want to take on more than you can handle and end up letting down your newfound clients.

To stay organized, I personally would create a cleaning schedule and start implementing it from day one.

First, I’d create a routine for my cleaning process. For instance, how do I tackle cleaning a room? In what order will I sweep, vacuum, mop, wash windows, etc.?

Nailing down a cleaning routine and doing it repeatedly would help boost my efficiency—and make sure I never miss a thing.

Next, I’d create a schedule, or time management plan, for my roster of clients. You can leverage online appointment booking tools like Acuity Scheduling, Vagaro or Calendly that you can add to your website where clients can book you.

If you can, try to schedule clients who are located near each other on the same day. Note which clients are recurring—and how often.

My idea would be to set reminders in your calendar one day or a few hours in advance so you never forget about an appointment.

14. Grow your cleaning business

You may choose to start your cleaning business as a side hustle, wherein you take on both the cleaning and the administration tasks by yourself.

After going full-time, the next step, then, is to scale your business by hiring cleaners. This allows you to take on more jobs than you can handle yourself so you can increase your profit.

Find contractors to work with online—you can even put job postings in the same places you looked for work, such as Care.com and TaskRabbit. Then, train your new hires so they all understand your cleaning system and schedule and can provide the same service for every client every time.

15. Factor in transportation costs

When it comes to business expenses and how to start a cleaning company, there’s more to it than just cleaning supplies.

You also have to get to and from the places where you’ll clean—and this takes both time and money.

To keep your car expenses down, look for clients in a specific geographic radius so you can be more efficient with your time (and gas money).

And don’t forget to always have a backup plan for transportation! After all, you don’t want to risk not showing up for the job due to car trouble when learning how to start a cleaning business.

Expert tip: Choose your niche first, and then scale slowly

Starting a new business is exciting, and it’s natural that you’re going to want to throw all your energy into it in the beginning. But don’t let yourself get too carried away! Remember, if you want to build a truly successful, profitable business, then you’ve got to play the long game.

Rather than jumping into a giant service offering and attempting to hire a huge team of contractors from the get-go, start slowly.

Begin with a smaller service offering that you know you can really crush when it comes to quality. This will make it easier to build a loyal clientele who support your work. From there, you can expand beyond your niche to hire more contractors and offer different cleaning services to grow your business.

The worst thing you can do is become overwhelmed with the work and end up letting down your clients. Remember the golden rule of business: Underpromise and overdeliver!

How profitable is a cleaning business?

A cleaning business can be very profitable. Cleaning may not sound like a glamorous job but hard work can be very well rewarded!

ZipRecruiter explains that the average yearly salary for the owner of a cleaning business is $109,000 (or an average of $53/hour).

To build a profitable cleaning business, the key is to scale up your clients over time so you can hire employees and take on more jobs (for more profit) than you can handle just yourself.

Is a cleaning business worth starting?

One of the top reasons to learn how to start a cleaning business is that you can count on pretty reliable demand.

After all, people always need stuff to be cleaned. And if you do a good job, they’re almost guaranteed to be repeat customers. Because once things are cleaned, they inevitably get dirty again.

Plus, with seemingly the entire world worrying about AI and what it means for the knowledge workforce, a cleaning business has a stable market outlook. (AI isn’t going to be cleaning the gunk out of the sink anytime soon!)

Do I need a license to clean houses?

Whether or not you need a business license to start a cleaning business depends on where you live. This is why market research is one of the most important steps when figuring out how to start your business.

Before you do anything else, make sure you research the relevant business laws in your state. For extra guidance, consider hiring a legal advisor. If that’s out of your budget, companies like LegalZoom are great places to turn for affordable, reliable legal information.

Articles related to starting a business

If you enjoyed reading about starting a cleaning business, read these articles next!

• 25 Side Hustles For Women That Make Real Money
• How To Get Clients Online For Your Side Hustle
• A Guide For How To Start A Business With No Money
• How To Start A Business From Scratch

Start a cleaning business and become your own boss today!

We think starting your own cleaning company is a great opportunity for both new and seasoned entrepreneurs. With low up-front costs and reliable demand, this business idea has real, long-term profit potential.

Of course, you don’t get something for nothing. Starting a cleaning business always takes a lot of work—especially if you’re doing all the cleaning yourself before you can grow and hire staff.

To start and grow your business, it’s key to develop a growth mindset. While starting a side business or full-time business can be considered one of the comfort zone challenges, you can do it! Also, check out Choosing to Prosper by Bola Sokunbi to find out more about achieving your money dreams!

The post How To Start A Cleaning Business In 15 Simple Steps appeared first on Clever Girl Finance.

Side hustles are a great way to increase your income without drastically changing existing life commitments. You can use the extra income from easy side hustles to help save for a big goal, pay off debt, increase your investments, or just help with monthly expenses.

It’s worth noting, that many popular side hustles are businesses and may require learning how to make money with a blog for beginners or another type of freelancing.

While these side hustle ideas offer real profit potential, they require an up-front investment of time and usually money, too. You typically can’t start making money as a blogger or freelancer overnight since it’ll take time to grow your readership or gain clients.

But don’t despair just yet! You can begin many side hustles today or this weekend to start making money immediately and with time, patience, and effort you can grow your side hustles to earn more!

Check out these 14 easy side hustles to make money you can start working on today:

14 Easy side hustles to make money fast

If you need extra cash now and don’t have time to invest in starting your own business, don’t worry—you can still be part of the gig economy.

It’s simple to get started with these side hustles.

In fact, many of these picks are side hustles from home to help you make a quick buck. For some of them, you don’t even have to leave the house!

1. Work as a virtual assistant

A virtual assistant (VA) is basically a personal assistant who takes care of virtual tasks.

For instance, you’ll likely schedule appointments, respond to customer emails, complete travel bookings, do data entry, etc.

To learn how to become a virtual assistant with no experience, you need a good computer with a stable internet connection. You also need to be pretty tech-savvy, organized, and good at multitasking.

This is one of the side hustles from home with the biggest profit potential. If you find enough clients, you can even turn it into a full-time business to earn a full-time income! Indeed says, the average wage for a virtual assistant is $27/hour.

If you don’t want to start a business and are just looking for an easy side hustle, you can pick up small VA gigs on websites like Task Rabbit and also Upwork.

2. Become a senior sitter or companion

Forbes reports on the growing phenomenon of aging in place. In other words, more senior citizens are choosing to live out their golden years at home instead of in a nursing home.

This means they need someone to be with them when their primary caregiver is away. It’s not only a great side hustle to make money, but it’s a great way to care for others and give back to the community!

You can find senior sitter or companion gigs on Care.com, where you can, on average, earn between $16 and $22 an hour. Care.com says this rate will vary depending on where you live and on what extra services you provide.

3. Become a Lyft or Uber driver

Driving for Lyft or for Uber is one of the easiest side hustles—and one of the fastest ways to make money.

As a driver, you can work whenever you want, day or night. You can even make extra pay during peak hours, like rush hour.

And the pay is pretty good! According to ZipRecruiter, the national average for an Uber driver is $15/hour.

Remember, though, that you’ll need a car (with insurance) and a cell phone. You’ll also have to pay for gas.

Pro tip: Become a driver for both apps to maximize your number of possible clients.

4. Shop and deliver groceries

Maybe you’re interested in a delivery side hustle, but you don’t want to be face-to-face with strangers in your car. Instead, you can work with InstaCart or also Shipt to shop and deliver groceries.

It’s simple. You get an order. You go to the store and shop.

Then, you deliver the groceries to the customer’s door. Easy, right?

Indeed says InstaCart shoppers make between $8 and $24 an hour. Bear in mind that you’ll make more money if you shop AND deliver instead of just doing the shopping.

5. Become a user tester

Looking for easy side hustles from home? Consider becoming a user tester!

Companies want feedback on their products and services—and they’re willing to pay for it. When you become a user tester, you’ll usually test out websites and apps and then give your feedback.

The compensation for the tests varies.

In addition to UserTesting, another reputable company to work with is Analysia.

6. Deliver food from restaurants

Not into shopping? Here’s another delivery side hustle to check out.

This one requires no face-to-face contact, and you don’t have to go shopping. Instead, you deliver food from restaurants to people’s doors.

To deliver food, you can work with Grubhub, DoorDash, or Uber Eats, for example.

According to ZipRecruiter, the national average earnings for a GrubHub driver is $17/hour. Don’t forget, though, that these rates vary depending on which state you live in.

7. Start driving for Amazon Flex

Finally, here’s one more delivery side hustle—and it has nothing to do with food.

For an easy side hustle, you can drive for Amazon Flex. This means you’ll deliver Amazon packages to people’s homes. All you have to do is schedule hourly blocks when you want to work, pick up the packages, and then start making deliveries!

Amazon says most Amazon Flex drivers earn between $18 and $25 per hour. (Again, rates will depend on where you live.)

8. Take online surveys

This next side hustle from home is pretty similar to user testing. Market research companies also want to know people’s opinions on different products and topics—and they’ll pay you to answer surveys.

Note that the pay per survey will vary depending on the length and intensity of each survey. Dscout says that most of their surveys (called “missions”) pay between $25 and $150—but they can pay less or more depending on the time spent completing the survey.

Another great thing about this side hustle is that you can do it from anywhere! For example, you can pull out your phone in the grocery line and take a quick survey to make a few bucks.

You can start answering surveys by making an account with User Interviews, Survey Junkie, or Dscout.

9. Tutor online

You don’t have to be an expert in a subject to tutor young students in high school or middle school. So if you can still rock simple math, you’re great at English or history, or you know a foreign language, then consider becoming an online tutor.

You can connect with students online via Tutor.com, also TutorMe, and Studypool.

And the pay isn’t so bad, either! Depending on the subject and difficulty level, Indeed says you can make between $11 and $35 per hour as an online tutor.

10. Teach English online

If you would rather teach than tutor, why not teach English online? This is a wildly popular side hustle to make money that you can do whenever you want from your home.

VIPKid is one of the most well-known websites for teaching English online.

Their website states they pay $7 to $9 per 25-minute class. If that doesn’t sound like too much, know that VIPKid will provide you with all the teaching materials, so you don’t have to do any prep. This gives you the potential to make between $14 and $18 per hour.

Note, however, that VIPKid requires you to have a bachelor’s degree—and they prefer candidates with some teaching experience.

11. Rent out a spare room with Airbnb

This isn’t a fit for everyone, but if you have a spare room, then consider this easy side hustle!

Truly, this is an opportunity to try one of the best passive income ideas. All you have to do is clean the room before and after the guest’s stay. (Or you can use the cleaning fee to pay someone to do this for you!)

How much you make renting out a spare room will vary greatly depending on where you live. Airbnb says 80% of private rooms are priced under $100 per night, with a typical cost of $67 per night. But if you live somewhere tourists want to go, you can potentially earn over $100 per night!

12. Babysit

Another great side hustle to make money is good, old-fashioned babysitting.

Babysitting services are always in demand—and people are willing to pay. Indeed says, the national average rate for a babysitter is $19/hour (though this can be a higher or lower amount depending on where you live).

To start babysitting, get the word out around town with people you know. You can also look for gigs right away on Care.com.

13. Launch your retail arbitrage business

What’s retail arbitrage? Basically, you buy things for cheap, fix them up, and then sell them at a higher price.

The most popular niches for retail arbitrage are clothing and furniture. Here’s what you have to do:

• Go to thrift shops and/or flea markets
• Find hidden gems
• Make any necessary repairs (e.g., replace missing buttons on a shirt or re-upholster a stuffed chair)
• Sell the goods online at a higher price

You can sell your upcycled goods on Amazon, eBay, and also Poshmark, etc.

Note that you will need some cash up-front in order to make the purchases and repairs, so this side hustle option isn’t for everyone.

Just remember: If you don’t have the cash for this side hustle, do not go into debt for it! There are plenty of other easy side hustles to make money that you can try this weekend instead.

14. Petsit or walk dogs

If looking after kids is not your style, what about pets? If you’re a pet lover, then this is an awesome side hustle to make money because you get paid for spending time with animals. Plus, you get to set your own schedule.

You can plan regular walks with clients weeks in advance or just pick up a random walk when you have some extra time.

For help finding clients, try signing up for an account with Rover or Wag. Glassdoor says the average dog-walker earns $18/hour, but you can make more money if you petsit and host dogs at your home while their owners are away.

Expert tip

There are a lot of amazing possibilities for side hustles out there, like blogging, freelancing, photography, and selling jewelry or other artisan goods.

Businesses can be very lucrative, but they also require a lot of up-front work and expenses. For most people, you won’t make money with them overnight.

So if you need money right now, try opting for a side hustle where you work with an established company instead of starting your own. For example, you can work with Uber, Grubhub, or VIPKid.

How can I make $1,000 a month with a side hustle?

To make $1,000 a month with a side hustle, start by breaking down your money goals to make them achievable.

For example, $1,000 a month is $250 a week. You can reach this goal by starting easy side hustles from home like driving for Uber, delivering packages for Amazon Flex, or working as a virtual assistant, for example.

Then, come up with a business budget to help you tackle your goal. First, list any expenses for your side hustle. (For example, if you drive for Uber, you’ll have to pay for gas.)

Then open a separate checking account. It doesn’t have to be a specific business account, but it’s a good idea to separate your business finances from your personal finances. (Get answers for what you need to open a business bank account!)

Last, track what you earn—and where it goes.

Do you want to put your money towards debt? A savings goal? Monthly expenses? Investing?

Having a business budget for your side hustle is important because it helps you keep track of your expenses and income. This way, you can efficiently manage your expenses and reduce them where possible to maximize your profits.

What is the best side hustle?

The best side hustle for you is the one that fits your daily routine schedule and is easy for you to manage.

The good news is that there are many companies that can help you do this by letting you pick your own working hours.

For instance, you can pick your own hours if you drive for Lyft, deliver for Grubhub or Amazon, shop for Instacart, teach English on VIPKid, walk dogs for Wag, etc.

Remember the golden rule of side hustles: The best side hustle is the one that doesn’t hustle you.

What side hustle makes $100 a day?

If you want to make $100 a day with a side hustle, then becoming a driver is a great option. Whether you drive for Lyft, Uber, Amazon Flex, DoorDash, etc., most delivery driver gigs average out to about $25 per hour, which means you can make $100 in just a few hours.

If you don’t have a car or can’t otherwise work as a driver, another side hustle that can make $100 a day is being a virtual assistant. Plus, you can do this side hustle from home, so you can make extra cash without even leaving the house!

More articles related to side hustles

If you enjoyed this article on east side hustles to work from home, check out these related articles:

• 23 Ideas For How To Make $300 Fast!
• 24 Unique Side Hustles That Make Real Money
• 25 Side Hustles For Women That Make Real Money
• How To Make An Extra $1000 A Month: 33 Ways

Start your side hustle (and bring home cash) today!

These easy side hustles from home are simple to start—so you can start making money ASAP to help you save for short-term savings goals or pay off debt.

If you have more time to spend on a side hustle and do want to start your business, check out our founder Bola Sokunbi’s book titled, The Side Hustle Guide.

The post 14 Easy Side Hustles From Home To Try Today! appeared first on Clever Girl Finance.

Everyone always has new hacks and tips on how to save money. But it isn’t necessary to reinvent the wheel to change your financial situation. Instead, you can look to the frugal living tips from the Great Depression that a lot of our grandparents used.

The Great Depression from 1929 to 1939, was the gravest economic downtown in U.S. history. The stock market crashed; the unemployment rate reached new heights; and industrial production was severely impacted.

During the Depression, everyone had to learn how to scrimp and save and there’s a lot we can learn from that era today. Even if you’re not in dire straits, following frugal tips from the Great Depression can help you cut your expenses and save money.

That said, here are 27 great depression frugal living tips and ideas we can all learn from:

1. Make your own soap

Nowadays, most people use liquid soap in the shower and at the sink. But liquid soap is actually a lot more expensive than bar soap!

Plus, you’re more likely to use up liquid soap (and have to repurchase it) faster than you would bar soap.

You can save even more cash by learning to make your own soap, which is one of our best frugal living tips from the Great Depression. The ingredients (like oil, water, and wax) cost just pennies, and the steps are very simple to follow.

Besides that, it’s a pretty fun activity, too! Discover how to make your own soap from Lovely Greens.

2. Wear clothes more than once before washing

You don’t actually need to wash all the clothes you wear after just one day’s use.

Of course, it’s a smart idea to wash things like underwear, socks, and gym clothes after every use. But your jeans, sweaters, and pajamas can likely stay clean and smell fresh even after a few wears.

In the end, by cutting down on how much laundry you do, you’ll reduce your electricity use and save money.

3. Keep warm with a hot water bottle at night

The Department of Energy explains that heating is likely the biggest monthly energy expense in your home. Want to make that bill shrink? Try using a hot water bottle at night as one of the frugal living ideas from the Depression.

This is an old-fashioned trick that not many people still do, but it can help you save a lot of money on heating.

In the evening, take a hot water bottle to bed with you. The hot bottle will help keep you warm, so you don’t have to use your heater as much and won’t have to spend so much on heat.

4. Learn a few sewing skills

Don’t worry-we’re not saying you have to start making all your clothes from scratch! But knowing a few basic sewing skills can definitely help you save a few bucks in the long run.

For example, start by learning how to sew a button on a shirt or patch up a hole in a sock. This way, you can mend what you have instead of having to run out and spend money on brand-new clothes.

5. Do all your errands one day a week or less

During the Great Depression, there weren’t 7-Elevens and Targets just around every corner. This meant people didn’t go to the store whenever they needed one thing (or whenever they were bored).

Instead, they went to the market and got everything they needed all at once in one trip for the week.

You can do this, too-and you’ll be shocked by how much cash it can save you.

First, it’ll help you save money on gas because you won’t need to go back and forth taking multiple trips to the store. Plus, it will help limit your impulsive spending since you simply won’t be at the store (and won’t be tempted) as often.

6. Track your spending

One of the most fail-safe ways to save money is to track your money. That means taking a look at where your money goes each month.

Remember: It’s not enough to just create budget categories and write them down; you also have to track your spending to see if you’re actually following that budget.

To track your spending, you can use a free app, a spreadsheet, or a spending journal.

First, figure out where you’re overspending. Then, find ways to make changes so you can cut out unnecessary expenses.

7. Make a herb garden

Herbs take up less space than vegetables, so they’re easy to cultivate even if you live in a tiny apartment. Plus, an herb garden will give you big cost savings! Just think about how expensive fresh herbs are at the grocery store.

8. Cook with leftovers

Today, people are too quick to throw away leftovers. Often, this is because they think it’s simpler to start over rather than to work with what they have.

But during the Great Depression, most people didn’t have a choice but to learn to cook with leftovers.

There are plenty of ways to reinvent leftovers to turn them into tasty, new dishes. And it’ll lighten your grocery bill, too.

If you’re not the best cook, (or even think, “I hate cooking!”) don’t worry. Check out leftover recipes from BBC Good Food.

9. Look through the pantry before going to the store

Similar to cooking with leftovers, learning how to shop what you have before heading to the store again will really cut down your food expenses.

It’s easy to find a recipe online and then go and buy all those exact ingredients-but it can also be expensive.

Instead, one simple frugal living idea from the Depression is to check out your pantry first. See what you have, and try to come up with a meal with those ingredients.

If you’re stuck, you can always Google it to try and find a recipe to guide you.

For example, if you’ve got zucchini, tofu, and corn at home, just search: “Recipes with zucchini, tofu, and corn” to find some inspiration.

This Depression-era savings tip will help eliminate food waste and shrink your grocery bill.

10. Purchase a whole chicken

Today, it’s easy to go to the grocery store and find boneless, pre-cut chicken breasts neatly wrapped in plastic. While this may seem convenient, it’s hugely wasteful and, actually, a lot more expensive than it needs to be!

Instead, try buying the whole chicken. To make things easier, buy a whole roasted chicken.

This gives you: 1) dinner for tonight; 2) leftovers for lunch tomorrow (cold lunch ideas are great for this); 3) bones to make stock with.

Believe it or not, a whole chicken actually costs the same if not less than pre-cut, boneless chicken-and you get three meals out of it instead of one!

11. Eat less meat

Often, meat is the most expensive ingredient on your shopping list.

There are much cheaper ways to get protein in your diet.

For example, you could eat more lentils, beans, eggs, or fish. Plus, eating less meat is a more sustainable choice that’s better for the environment.

Not sure where to start? Check out these cheap vegan meals from The Green Loot.

12. Buy reusable products

Back in the 1930s, people didn’t have as many disposable products. Obviously, this is better for the environment. But it’s also better for your wallet, too, and it’s one of the best frugal living tips from the Great Depression!

By switching to reusable products instead of disposable ones, you’ll save money because you won’t have to run to the store to buy replacements as often.

For example, you can switch to cloth napkins and cloth towels instead of paper towels and paper napkins. If you’re a coffee drinker, consider switching to a reusable coffee filter instead of using paper filters and/or metal pods.

13. Start a vegetable garden

Growing your own vegetables at home is much less expensive than buying them. Sure, fresh vegetables may only cost a few bucks at the store, but it costs just pennies to buy vegetable seeds to grow at home.

Plus, home-grown vegetables taste a lot better than their store-bought counterparts.

Best of all, starting your own vegetable garden isn’t as hard as it may seem.

For one, you don’t even need to have a backyard. If you can place a few pots near a window, then you can start growing your very own tomatoes, cucumbers, peppers, and much more for a fraction of the grocery store prices.

14. Invest in quality

Slow fashion vs fast fashion was simply not a thing back in the day.

Instead of having three dozen cute but cheap outfits from Zara or H&M, people had fewer clothes that they re-wore more often. You can do the same today by investing in good-quality pieces that will last longer than cheap clothes that will rip or fall apart quickly.

For example, consider investing in a great pair of leather shoes. While good-quality leather shoes can be expensive, they can also be repaired. You can take your leather shoes to the cobbler, again and again, to get them reheeled and polished.

This means you can wear the same pair of shoes for years to come instead of constantly needing to buy new ones.

15. Upcycle furniture instead of buying

Even budget furniture can cost you a couple of hundred dollars.

So take a cue from frugal tips from the Great Depression and learn about upcycling and flipping furniture instead.

Back in the day, they didn’t call it upcycling; it was just what they had to do to get what they needed on a budget. But today, there are all kinds of fun tips and tricks to convert old furniture into like-new pieces.

Best of all, you can find old furniture to upcycle for very cheap or even free for a huge savings win!

Get started with this guide on upcycling for beginners from House Beautiful.

16. Buy things second hand

If you’re not a DIY kind of gal, you can still save by avoiding buying brand-new items from the store. What can you do instead? Buy things secondhand.

Today, the internet makes it even easier to find what you need secondhand.

For example, you can use Facebook or eBay to buy second-hand appliances, electronics, books, furniture, toys, etc. To save money on clothing, you can also check out thrift shops. And don’t forget about yard sales for a treasure trove of cheap finds to save you money!

17. Make your own cleaning products

Why waste your money on name-brand sprays, scrubs, and gels to clean your home when you can DIY everything you need instead?

You can use different combinations of diluted vinegar, baking soda, and lemon juice to clean pretty much anything in your home-from sinks to toilets to countertops-and it costs just pennies.

Watch out, though. Some surfaces (like marble, for example) can’t tolerate these chemicals, so make sure you do your research before cleaning. Reader’s Digest gives a great guide on baking soda and vinegar cleaning solutions for your home.

18. Share with your neighbors

In tough times, it’s nice to know you have a community to turn to. Today, many people take a big sense of pride in being independent and owning everything they need. But it’s fine to ask for help.

In fact, when you can borrow from and lend to your neighbors, everyone wins!

For example, cooking a big meal for a dinner party? If you rarely host, consider borrowing your neighbor’s crockpot (that you’ll likely only use once) before going out and buying your own.

In turn, let your neighbor borrow your lawn mower. Or watch their dog while they’re on vacation.

If everyone helps each other out, everyone can buy less and save more money in the long run.

19. Learn how to store and preserve produce

Whether you buy your fruits and vegetables (hopefully, on sale!) at the grocery store or you grow them yourself at home, don’t let a single thing go to waste. Notably, food waste isn’t just bad for the environment-it’s also bad for your wallet, says the United States Environmental Protection Agency.

So try out one of the frugal living tips from the Great Depression and learn how to store and preserve produce so you never let them go to waste.

For example, you can learn how to freeze, dry, jam, can, and even pickle different kinds of produce.

20. Learn to DIY around the house

Some people may have more of a knack for it than others, but we can all learn how to be a little handy around the house and use one of the frugal living tips from the Great Depression. And the more you can learn to DIY, the more cash you’ll save because you won’t have to always call in (and pay) a professional.

You don’t have to do everything yourself. But just picking up a few tricks here and there can give you some creative ways to save money.

For instance, you can learn how to paint your own rooms, unclog your own drain, shovel your own driveway, mow your lawn, etc.

21. Use less electricity

This is one of the frugal tips from the Great Depression that’s likely to save you the most cash-and it’s also the easiest.

It’s obvious that the average American household today uses more electricity than in the 1930s, so look to history for inspiration on how to lower electric bill costs.

For example, use natural sunlight more by leaving the lights off during the day. And remember that saving energy doesn’t just save you money; it’s better for the environment, too.

22. Relax by candlelight

To save money at home and use one of the smartest frugal living tips from the Great Depression, why not switch to candlelight after the sun goes down?

Of course, you don’t have to do this every day. But even switching to candlelight a few nights a week can really cut back your electricity use and your electricity bill.

Plus, it can actually be really enjoyable to relax by candlelight! For one, it’s easier on the eyes. If you spend the evening reading by candlelight before bed, you’ll use barely any electricity at all. Better yet, candlelight sets the perfect scene for a cozy or romantic evening!

23. Just a dab will do ya

Fun fact: You don’t need to use as much toothpaste as they show you in the commercials, says Health. Double fun fact: You don’t even need to use toothpaste at all, says Advanced Dental Arts NYC.

We’re not saying you should give up toothpaste. But when it comes to lotions, potions, soaps, and most cosmetics and cleaners, you don’t need to use as much as you think.

Try sticking to the old motto, “Just a dab will do ya!” By using less of a product on a daily basis, you won’t run out of your products as quickly, and you won’t need to spend money to replace them as often. Win-win.

24. Use things up before replacing

Too often, we get tired of what we have and rush out to buy something new before it even needs replacing. That definitely wasn’t the M.O. during the 1930s! Back then, the Depression-era motto was, “Use it up, wear it out, make do or do without.”

If you live by this motto today and only go shopping when you’ve actually run out of something, you can end up saving a lot of cash and use one of the frugal living tips from the Great Depression.

25. Go to restaurants less often

You can bet that not many people were going to restaurants during the Great Depression. While you don’t have to cut restaurants and coffee shops completely out of your lifestyle, reducing how often you eat out can significantly increase your monthly savings.

For example, do you buy lunch every day at work? Start by making your own lunch and bringing it to the office. You can also start making your own coffee instead of going to your local shop.

A good tip is to see restaurants and coffee shops as a once-a-week treat or even a monthly expense instead of a daily expense.

26. Entertain yourself for free

When you’re bored at home, getting ready to meet with friends, or preparing to go out on a date, it can get expensive-fast. This is understandable.

Often, the first thought is to just go out to eat or get a drink. But eating and drinking out on a regular basis can end up being really expensive. So can indulging in a shopping habit, going to the movies, and taking a weekend trip.

But there is always stuff to do at home (alone, with friends, or with your partner) for free! Here are some ideas:

• 40 Fun Things To Do For Free With Friends
• At-Home Date Night Ideas For Couples On A Budget
• 22 Fun And Inexpensive Ideas For Days Out With The Girls

27. Make payments in cash

Hear us out: You don’t have to ditch all online payments in order to be more frugal and save money. After all, online payments and credit cards can make it a lot easier to manage payments for rent, electricity, internet, car loans, etc.

But online payments and credit cards also make it way easier to start impulse spending, which is why switching to cash can be a good idea.

For example, try paying in cash for things like groceries, restaurants, and other day-to-day purchases.

By paying in cash, you’ll be more conscious of how much you’re spending-and you’ll be less likely to make big impulse purchases.

Expert tip: Layer up your savings ideas!

The key to saving money using these ideas without burning out? Try adding in a couple of low-maintenance savings ideas and then one that is a bit more challenging.

For example, you might use things up before replacing them and shop your pantry before going to the store (easy). But then also start making your own soap (more time-consuming but helps you save.)

Can you use these Depression-era ideas to save and still have fun?

Using some of these frugal living tips from the Great Depression will help with your savings goals, and you can still enjoy life! You can be frugal and have fun by making some of these ideas into habits and saving money without really noticing.

What is the best Depression-era idea to save money?

One of the best ideas from the Depression is to grow your own food. Start a garden, learn about preserving and canning, and find ways to stretch your grocery budget further.

How do you live frugally?

Living frugally means that you are conscious of the money you spend, and you look for ways to save often while still enjoying a high quality of life. You can use the tips here and find many more.

Related articles on frugal tips

Enjoyed this article? Check out more of our articles on frugal tips!

• 35 Frugal Living Tips To Save A Ton Of Money
• The 29 Best Frugal Living Blogs
• 15 Extreme Frugal Living Ideas And Frugal Hacks!
• Frugal Vs Cheap: Why Frugal Is Better!

A 21st-century lifestyle with Depression-era savings!

What’s old is new again! There’s plenty you can learn from these frugal living tips from the Great Depression. But we’re not saying you have to live like it’s 1931.

Instead, just try incorporating a few frugal tips from your grandparents’ era into your daily routine. They can really impact your motivation for saving money and how much you save.

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Just got a big salary bump? Let me be the very first person to congratulate you on your new 50k salary! But before you get too busy celebrating, stop and ask yourself, “50k a year is how much an hour?”

Getting a big raise or starting your first salaried position definitely feels like a big win. But after you enjoy a celebratory dinner out, don’t forget to pause and really consider what your new salary means for your budget.

$50k a year is how much per hour when you break it down?

When you start a salaried position or get a big raise, it can be hard to internalize what that really means for your wallet.

This is especially true if you’re transitioning from a position with an hourly rate. When you view your wages cumulatively as a yearly salary instead of at an hourly rate, it can automatically seem like a much more lucrative gig. But this isn’t always the case.

Remember: Just because it’s a yearly salary, it doesn’t necessarily mean it’s more money per hour.

A good way to understand how much your 50k yearly salary is, would be to break it down and think about, “How much is 50k a year hourly?”

How much is $50k a year hourly?

Let’s assume you work the standard 40 hours per week. With 52 weeks in a year, that’s 2,080 working hours per year-or $24.04 per hour.

But 50k a year is how much an hour if you work more than a regular work week? If you work 50 hours per work week, then that’s 2,600 working hours per year at an hourly rate of $19.23.

So when it comes to answering the question, “How much is 50k a year hourly?” be sure you assess the actual amount of hours you work. This way you can get a more accurate number.

What is $50k a year per day?

As a rule, there are 260 work days in a year. So for every working day, you earn $192.31. (When you multiply 8 hours a day by $24.04. Which is the hourly rate for a $50k salary working 40 hours a week).

Remember, though, that salaried positions often come with paid holidays and a certain number of paid vacation days, sick days, or personal days. This means you’ll still be getting $192.31 every weekday of the year-even during holidays and vacations. Hooray!

What is the real amount of $50k a year weekly?

There are 52 weeks in a year, which means your 50k-a-year salary will give you $961.54 gross pay every week of the year.

$50k a year biweekly is how much?

Most salaried positions, however, don’t issue paychecks every week. It’s more likely that you’ll get a paycheck every two weeks or biweekly.

With 26 pay periods in the year, your 50k salary will give you approximately $1,923.07 gross pay every two weeks.

What amount is $50k a year monthly?

When it comes to budgeting, most people like to consider their expenses on a monthly basis, so asking yourself, “How much an hour is 50,000 a year?” is only the first question. It also helps to think about how much your 50k salary gives you monthly.

With 12 months in a year, a 50k salary works out to $4,166.67 gross pay each month.

$50k a year after taxes and deductions

When you’re asking yourself how much an hour is 50,000 a year, remember that your 50k salary is your gross pay.

Gross pay is your total salary before any taxes or deductions are removed.

So if you set up your budget based on your gross pay, you’re going to come up short when it’s time to pay your bills. Instead, you need to calculate your net pay-the money you’ll actually receive after taxes and deductions.

Types of taxes

When you start to figure out your 50k a year is how much an hour, you need to consider what that number will be after taxes.

Let’s assume you’re a single filer. You’ll have to pay:

Federal taxes

Federal taxes are money that every filer needs to pay to the government. The tax rate for single filers earning $50,000 per year can change annually, so it’s important to stay current.

FICA

FICA stands for Federal Insurance Contributions Act. It includes a 6.2% tax for Social Security and a 1.45% tax for Medicare.

State taxes

This is where things get variable, as income tax will vary from state to state. Plus, there are even nine states with no income tax.

Deductions that affect pay

But we’re not done yet! Besides taxes, there are also certain deductions you’ll have to consider when thinking about your 50,000 salary hourly.

After federal and state taxes, other deductions you’ll have to consider include:

• Retirement contributions
• Medical insurance costs
• Any local income taxes
• Collections to the US government (if applicable)
• Collections to Court ordered rulings (if applicable)
• Any additional insurances (life insurance, long-term disability insurance, etc.)

We get it-it can all be pretty confusing. If you’re not prepared to get down to the nitty-gritty percentages to figure out your 50,000 salary hourly and your income after tax, then you can make a quick estimate instead.

A good rule is to estimate your net pay by subtracting about 20% to 25% from your gross pay. This would end up at approximately $40,000 if you subtract 20% or approximately $37,500 if you subtract 25%.

Expert tip: Maximize earning $50k a year

The best way to maximize earning $50k a year is to remember that taxes are a factor. This means your post-income tax salary will be less than $50k after all your various deductions have been made. Leverage an online calculator that will factor in your state taxes and marginal taxes to get a rough estimate.

You also want to ensure you budget your money carefully so you leave room to save, invest and pursue the other financial goal you have for yourself! Finally, exploring other streams of income or a side hustle to earn even more is always a good idea!

What it’s like living on $50k a year

So, 50k a year is how much an hour?

When you think about this answer, it’s going to mean something different for everyone. This is because 50k a year can’t deliver the same lifestyle for everyone, everywhere.

What will affect your salary’s purchasing power?

Where you live

How far your 50k salary can stretch will vary greatly depending on where you live. Unfortunately, it’s a reality that 50k a year may not be a suitable living wage in some places.

The Bureau of Labor Statistics (BLS) explains median weekly earnings of full-time workers are $1,041. That would be $54,132 per year, so your 50k salary is relatively on par with the nation’s median income.

But in Colorado, for example, the median income for a single earner is $70,952. In South Carolina, it’s $52,348.

Your family situation

But are you single? Or do you have a family?

Your family situation also plays a big role in your salary’s purchasing power.

What’s most important is considering your household income. Investopedia calls household income “the combined gross income of all members of a household above a specified age.”

So think about the question, “How much an hour is 50,000 a year?”

Your answer (and your lifestyle) will vary greatly depending on whether your 50k salary supports just you, supports your family, or contributes to a multi-income household.

Tips for living on $50k a year

When you get that big raise or start your first salaried position, the most important thing you can do is repeatedly ask yourself, “50k a year is how much an hour?”

Why do we stress this?

Because reminding yourself of your 50,000 salary hourly will help you avoid lifestyle creep.

Lifestyle creep is when your income increases … but then your spending dramatically increases. Too much.

Don’t let all that new money go down the drain! Use these tips to comfortably live on 50k a year:

Don’t spend more than you have

You just earned a big raise, so enjoy it! But don’t let yourself get carried away.

Living within or below your means ups your savings rate-and puts you on the right track for financial wellness.

Make a savings plan when buying something expensive

Just because your paycheck got a boost doesn’t necessarily mean your spending should, too.

Sure, you definitely deserve to treat yourself. But before you splash out big purchases, consider if you can really afford it-or whether or not it would be better to save for a few months first.

Create a logical budget

There are dozens of different ways to create a budget-so there’s definitely one out there that’s the right fit for you.

Creating a budget will help you hold yourself accountable and stay on track with your financial roadmap.

Adjust your budget as time goes on

A healthy budget isn’t always static. As your needs, your lifestyle, and your income change, remember to revisit your budget and adjust it to keep pace with your financial plan.

Jobs that pay $50k per year

No matter where you live or what your education is, it is possible to make 50k per year (or even more!).

Make 50k per year without a degree

There are dozens of jobs you can do to earn 50k or more without a degree, such as:

• Electrician
• Insurance Specialist
• Commercial truck driver
• Sales representative
• Plumber

What jobs make $50k per year with a degree

In some fields, going to school and earning a degree will better your chances of starting off with a higher salary.

For example, you can make 50k per year with an associate’s degree or more by becoming a:

• Dental hygienist
• Loan Officer
• Business analyst
• Communications manager

Articles related to earning $50k a year

If you’ve enjoyed this article on how $50k is an hour, check out this related content:

• $15 An Hour Is How Much A Year?
• How Much Is A 40k Salary Hourly, Bi-Weekly, And Monthly?
• What How Much Is A 6-Figure Salary In Real Terms?
• Is $100k A Year Good Income Wise?
• $45,00 A Year Is How Much?
• $60,000 A Year Is How Much An Hour?

Living your best life on $50k is possible!

So 50k a year is how much an hour? It’s not always a clear-cut answer, depending on where you live, whether you’re single, etc. But it is possible to live your best life on 50k a year.

The first step is celebrating your income increase! Then it’s time to think about your finances and your future.

You can really get your income working for you by taking the free budgeting course from Clever Girl Finance or even setting your sights on a six-figure salary!

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