The 60/30/10 budget turns the traditional rules of budgeting upside down. Instead of focusing on discretionary spending, this budgeting rule emphasizes sprinting toward our financial goals. And although the 60/30/10 rule budget won’t work for everyone, many could use it to take their finances to the next level. Here’s what you need to know about the 60/30/10 rule budget.

What is a 60/30/10 budget?

The numbers in the 60/30/10 each represent a percentage of your financial plan.

• With this system, you will use 60% of your take-home pay to build your savings or even an early retirement account, invest, save up for a down payment, or repay debt.
• Next, you will spend 30% on your needs. These might include food or frugal meals, rent or mortgage payments, utilities, healthcare, and transportation like car payments.
• Finally, you use the remaining 10% of your budget to pay for discretionary spending. These wants might include new accessories, a spa day, or other ways to pamper yourself. You may also spend money on hobbies, entertainment, or other non-essential expenses.

Who is it ideal for?

After seeing the percentages, you might be curious to know who would thrive under the 60 30 10 rule budget. Ambitious savers are best suited for this budgeting style, especially if they have an ultimate lifetime money plan that includes a big money goal.

If I have big financial goals, then prioritizing saving might seem right.

For example, let’s say I want to pay off a large amount of debt fast. Putting 60% of my take-home pay towards that goal will help me achieve that goal faster.

Another example is anyone interested in achieving FIRE; Financial Independence Retire Early. It is no secret that those seeking FIRE must save a significant amount of money.

Pros and cons of a 60/30/10 budget

As with all financial choices, there are some advantages and disadvantages to sticking with the 60/30/10 idea. Here’s a closer look at the pros and cons you should consider before diving in.

Pros

Let’s start with the pros of the 60/30/10 rule budget. This idea has some significant upsides.

Faster progress toward financial goals

The most obvious advantage is that you’ll accelerate your timeline for any financial goals. Whether you want to build emergency fund savings or save money for a big-ticket item, saving 60% of your income in your savings accounts will help you accomplish that more quickly.

Disciplined spending on what excites you

You can still have fun with your spending. But you’ll need to be intentional and only spend on things that really matter to you. It helps to determine what your wants truly are when using the 60 30 10 rule budget.

For instance, if I really value traveling but instead usually spend my extra money on coffee and shopping, then I would need to change my spending. I would stop spending on those categories and focus on saving for my next vacation.

Motivation to boost your income in creative ways

If you want to boost your discretionary spending within the rule, you must increase your income. It could be the perfect way to stick to your side hustle.

The budgeting rule can help you accomplish your financial goals. Plus, it helps you uncover what type of discretionary spending is truly important to you.

Cons

Of course, there are also some downsides to consider. An extreme budget like this isn’t for everyone.

Limited discretionary spending options

Depending on your wants, it might be challenging to cut back on your discretionary spending. Some people prefer a more luxurious lifestyle and this budgeting method restricts those types of purchases.

For example, if you’re used to spending half of your income on discretionary expenses, it will be a major adjustment. But you can do it if you really want to prioritize your money savings goals!

Adjustments to your lifestyle

You may need to cut back on the needs in your life to keep it within the 30% rule. It might include cutting back on housing through house hacking or transportation and car expenses. Also, eating at home versus dining out and finding ways to drastically cut expenses.

It is clear that you might need to make some cuts to your spending within this budget. You’ll need to decide for yourself if the cutbacks are worth it.

The math may not work for your income right away

Unless you have a very large income, this budget could be challenging without some major lifestyle and financial changes.

For instance, even if you make $10,000 a month, your expenses would still need to be very low ($3,000) for this to work. So if you have this income and your expenses are $5,000, you would need to switch up some percentages or drastically change your lifestyle.

To make this work, you can either increase your income, decrease your expenses, or both.

How do you set up a 60 30 10 rule budget

If you want to move forward with a 60/30/10 rule budget, here’s how to set one up. Check out the following guidelines:

Step 1: Determine your take-home pay

The basis of the 60/30/10 budget is your take-home pay. It includes the money you earn after you account for taxes. 

If you are an employee, it may be as easy as looking at your paycheck to determine your salary. But if you are an independent contractor or business owner, it can be more difficult to nail down your take-home pay and monthly income.

The IRS offers a free tool to help you determine how much you should expect to withhold for taxes. But if you run into questions, it is a good idea to talk to a tax professional to help you determine exactly what your take-home pay is.

Step 2: Allocate to your financial goals first

Once you determine your take-home pay, it is time to allocate 60% of the funds to your financial goals. The best part is that your financial or savings goals will be entirely unique to your situation. You may decide to build an emergency fund, start investing, or pay off debt from credit cards or student loans.

Before you take any action, take some time to find and choose examples of financial goals that align with your future.

Perhaps you want to start investing. That’s a great step! But you should consider what your long-term goals are to ensure you make investments that will work for you.

As an example, one of my major savings goals is retirement. Let’s suppose I need to save $1,000,000 to reach my goal. Based on my current income and this budget, it might take about 20 years to reach this number.

But now I have a financial goal with a number, a time limit, and a long-term plan.

In addition, I should determine what investments will be best for my retirement goal in 20 to 30 years.

Step 3: Take care of your needs

Next, you will use 30% to cover your needs. Necessities encompass the essentials of life. Some examples include housing, utilities, food, groceries, transportation, and healthcare.

You may need to shop around to build a lifestyle that fits within 30% of your income.

For example, you might decide to drive an older car or choose to cook at home more to save money. In addition, you may get a roommate in order to reduce your house payment.

Step 4: Spend the last 10% on things you want

Last but not least, the remaining 10% of funds is to be spent on things that you want.

Whether you want to take a lavish vacation or upgrade your simple wardrobe to a more extravagant one, you’ll know what your spending limits are.

Don’t be tempted to skip spending on the things you want. It is important to treat yourself to the things that matter to you. Otherwise, it can be easier to let the entire budgeting plan fall apart.

Expert tip: Focus on having specific savings goals

Since you aren’t going to be spending as much money with this budget, it’s important that your savings goals feel very worthwhile to you. They need to be specific to your situation and also things that are very fun or interesting.

For instance, I really value being a home owner, so saving a down payment will be worthwhile.
Or perhaps you want to travel the world for a year and save a lot for retirement.

No matter what, make sure your goals are important to you. Also, be sure to use vision boards or create mini goals in order to stay focused.

What to avoid with this budget

There are several things you should avoid including being caught unaware by unexpected expenses. Since the percentage for necessities with this budget is low, there isn’t much room for error. Beware of increases in necessities like housing costs or groceries due to how inflation affects a household, etc.

Another thing to remember is not to confuse or mxi up your categories, like what is essential and what is extra non-essential spending. Remember your percentages and keep spending in check!

Last, don’t take on extra credit card debt, as it can be too much to handle. I find that not increasing my debt burden helps me to pay things off in a timely manner and can make this budget work long-term.

How does the 60/30/10 budget differ from the 50/30/20?

The difference between the 60/30/10 budget and the 50/30/20 budget are the percentages. The 50/30/20 budget was created by Elizabeth Warren and her daughter, Amelia Warren Tyagi. The idea is that 50% of your income pays for expenses and needs, 30% is for wants, and 20% is for savings.

The 50/30/20 budget is easier to achieve for many people because it is less extreme. With this approach, you save 20% of your income instead of 60%.

However, many people now believe saving more is better, especially with the rising cost of living. So it’s really up to you what percentage you feel is best to save or invest. You may lean more towards a higher saving percentage, or you might choose to spend more on living expenses, depending on your unique situation.

Is the 60/30/10 budget right for me?

The rule is an enticing choice for anyone who wants to improve their financial situation. Before you jump in, take a minute to be realistic about your current income. If you have a lower income, this plan might be too extreme at first.

Ultimately, this budgeting strategy is possible for everyone. However, you may need to consider increasing your income through a unique side hustle. Or making major cuts to your spending on big-ticket items like housing and food.

Of course, there are many other types of percentage budgets that you can try first if needed to get in the groove of saving.

For instance, the 70-20-10 budget, 30-30-30-10 rule, 50/30/20 budget, or the 80/20 rule are great budgets to start with.

If these don’t suit you, you could move back to the 60 30 10 rule budget! The main thing to remember is to pay yourself first so you are sure you save money before spending it.

What is a 60/30/10 rule example?

Let’s look at a couple of actual monthly budgets using this system. Suppose my monthly income is a net pay of $5,000. Next, I’ll divide it into categories. 60% of $5,000 is $3,000, 30% is $1,500, and 10% is $500.

In this scenario, I could save $3,000 for a down payment and an emergency fund. I would pay my bills with $1,500, including rent, groceries, and insurance. Then, $500 would be mine to use as I like.

For example, I might go to the movies or go on a weekend getaway.

You can see how this type of budget works better if you have a larger income.

For instance, let’s say the budgeter has a take-home pay of $12,000 per month. That gives much more money to pay bills and more to save. You would save $7,200 (60%), use $3,600 (30%) for necessities, and use $1,200 (10%) for fun.

Even with a high income, this rule is best used when you have big savings goals and your necessary expenses are quite low.

More articles related to budgeting

If you enjoyed learning about this budget and how to apply it to your finances, check out these other posts next!

• What Is The 70-20-10 Budget?
• 10% Rule: Is Saving 10% Enough?
• What Is The 60-20-20 Rule And How Does It Work?
• Save $5K With The 200 Envelope Challenge!

Save more money with the 60/30/10 budget!

The 60 30 10 budget could help to transform your finances. You’ll significantly accelerate your progress toward long-term financial goals. But you may need to spend some time boosting your income through multiple sources of income to make this budget a comfortable reality.

If you need some help creating a budget that works for you, then take advantage of our completely free budgeting course. You’ll find helpful guidance for setting up a budget that fits your goals and finances! For more fantastic financial tips, join the Clever Girls Know podcast and YouTube channel!

The post How Does The 60 30 10 Rule Work For Budgeting? appeared first on Clever Girl Finance.

Going out to watch a movie, see a sports game, and attend a concert can be a fun way to spend your time, but it can also be quite expensive. But you don’t have to spend much money to have a good time! There are tons of fun challenges to do at home to beat the boredom. Keep reading for some great ideas!

Did you know that American families spend about $3,458 on entertainment every year? Instead of spending your hard-earned cash paying for entertainment, gather up some friends and family and give these at home challenges a try!

32 Fun challenges to do at home

Whether you love speed challenges or fitness challenges, we have just the list of at home challenges for you! These challenges can be done by yourself or with friends and family. Even use them as family night ideas!

That said, here are 32 fun challenges you can do at home that are entertaining and budget-friendly!

1. Accent and impressions challenge

The accent and impressions challenge requires at least two people, 20 sheets of paper, a paper/pen, and a timer.

First, write an accent (i.e., American, British, Scottish accent) on each slip of paper and put the pieces of paper in a pile. If there are more than two players, you can split the participants into two teams.

Then, two players (from the same team) must stand on opposite sides of each other. Have one player pick up an accent card and raise it above their head.

Finally, the other player must speak with the accent shown on the card. If the participant with the accent card can guess the accent being spoken, then the team gets a point. Each team is given one minute to rack up the most points. You can get accent help or confirm an accent is accurate by checking on YouTube!

Alternatively, you can also impersonate famous people and guess who that person is.

2. Psychiatrist challenge

This at home challenge requires at least two players, and no materials will be needed. One player will be assigned the role of the “psychiatrist,” and the remaining players will be the patient(s).

Then, the players must form a circle with the psychiatrist in the middle. The objective of the psychiatrist is to figure out the shared pattern among the other players.

For example, say the players (patients) agree to use a number every time they speak. The psychiatrist will be allowed a maximum of 20 questions to determine this pattern.

Example:

Psychiatrist: Patient 1, who are you?

Player 1: No one (1)

Psychiatrist: Patient 2, who are you?

Player 2: Me too (2), I am no one (1).

If a player (patient) doesn’t follow the rule, the other patients must shout, “Psychiatrist!” That usually gives the psychiatrist a hint as to what the pattern might be.

3. Know that lyric challenge 

Are you a song aficionado? You’ll certainly love this fun challenge that you can do at home! The “know that lyric” challenge requires at least two players, 20-30 slips of paper, and a pen/pencil. You can also use a bowl to put the papers in.

First, on each slip of paper, write a song lyric. Then, underline half of the lyric for each slip of paper. Take a look at this song lyric, for example: “Oh say can you see, by the dawn’s early light.”

You would start by singing the first part. Then, the other players would have to jump in and guess the second part (the underlined section). If a player guesses the lyric, then they receive a point. The player with the most points wins.

Try writing different song topics for the best results, and try different genres. For instance, write songs from a category like country music, but also Broadway show tunes and pop music.

I personally love games like this and find it’s great to play for a family game night!

4. Blindfold makeover challenge

The makeup challenge requires at least two players, a blindfold, and the makeup of your choice. One player must apply makeup on the other participant while wearing a blindfold.

Take some pictures after the challenge and share them with your friends. You might be surprised by how well you’ve done! Maybe you will get inspired to try our custom “glow-up” challenge too!

5. Blindfold drawing challenge

The blindfolded challenge for drawing requires at least two players, a pen or pencil, two pieces of paper, and a blindfold. The players must wear a blindfold and draw the same picture from memory.

When finished, remove your blindfolds and compare drawings. Then have a judge decide who drew the better picture and give that person a point.

6. Baby food challenge

Ready to test your senses? Here is a fun challenge you can do at home. The baby food challenge requires at least two players or more, six types of baby food, and a couple of spoons.

Each must take turns eating a spoonful of baby food without spitting it out. If a player keeps the food in their mouths, then they will get a point. The player will get another point for identifying the type of baby food that was eaten.

After going through all six containers, tally up the scores. The player with the most points wins!

7. Tin can challenge

The tin can challenge requires at least two players, eight to ten tin cans, a spoon, and a can opener. First, pick out different types of canned food you find gross, strange, or smelly. Then, pick out several canned foods that you find tasty. You might use beans, tomatoes, etc.

Next, remove the label of each can and place a number on each corresponding can. Write the numbers down and place them in a container (or a hat).

Then, have each player draw a number from the container and open the can with the matching number. Finally, the player must eat a spoonful of the mysterious substance without spitting it out.

Each person who guesses correctly gets a point, and the person with the most points wins the game! It’s one of those fun challenges to do at home that requires a strong stomach.

8. Eat it or wear it challenge

Don’t mind the mess? Here is another fun challenge you can do at home that you’ll definitely enjoy!

The eat it or wear it challenge requires at least two players. You will also need about 15-20 brown bags, spoons, cups, and random food (mayonnaise, tuna, soda, french fries, juice, and donuts) you may have in your house.

Start the game by having each player go through the bag and remove the item inside. The player can either choose to eat it or dump it over their heads. If the player chooses to eat it, they can dump the remainder on the player of their choice.

The game can get really messy (and smelly!) so you might want to play this at home challenge in your backyard.

9. Whisper challenge

The whisper challenge requires at least two players, headphones, and a device to play music from. Pick one player to wear the headphones, and another to turn up the music so that the other participant is inaudible.

The player without headphones must say a phrase, while the player with the headphones guesses the phrase by reading the other person’s lips. If the player guesses the phrase right, then they get a point. The player with the most points wins.

This is one of the best at home challenges to play. Even Keanu Reeves and Jimmy Fallon have a blast with this challenge!

10. Cookie challenge

The cookie challenge requires at least two players and a cookie of choice. If you enjoy cooking or you like baking, you can make the cookies yourself! First, each player must place the cookie on the middle of their forehead.

Then, they must use their facial muscles to get the cookie into their mouths. The first player to do so wins! The cookie challenge is personally my favorite of all the fun challenges to do at home.

11. Chubby bunny challenge

The chubby bunny challenge requires at least one player and a bag of marshmallows. Stick as many marshmallows into your mouth as you can until you can no longer say “chubby bunny.”

If you are playing with multiple participants, take turns putting a marshmallow into your mouth and saying “chubby bunny.” The person who can fit the most marshmallows into their mouth while being able to say “chubby bunny” wins! If you love sweets, then this is one of the tastiest fun challenges to do at home.

12. Bake off challenge

The bake-off challenge requires at least two people and random ingredients you can find in your pantry. First, give each player 30 minutes to make something from those ingredients. After the 30 minutes is over, have someone taste the creations and decide who did it best.

I love baking so this is one of the best challenges to do with friends, in my opinion. My favorite part is that we get to eat the leftover baking creations!

Alternatively, you can challenge yourself to a bake-off with another player by seeing who can make the best meal from the same recipe. Consider these delicious, frugal meals to try out to level up your game.

13. Egg dropping challenge

The egg dropping challenge requires one person, a raw egg, and materials for the container.

The objective is to build an “egg” armor that can withstand the impact of a drop. Test your design by dropping the egg from a high elevation. If your egg doesn’t crack, congrats, your device works!

14. Yoga challenge

Every yogi will love this fun challenge that you can do at home! The yoga challenge requires at least two players and no materials are necessary. Start by having the first player perform a yoga pose of their choice.

They can either start with an easy pose or jump to something more advanced. The other players must mimic the pose and hold it for at least ten seconds.

Each player who can mimic and hold the pose for ten seconds earns a point. The person who earns the most points wins!

15. Dance-off challenge

Get ready to bust a move with this at home challenge! The dance-off challenge requires at least two players and no materials are necessary.

To start, the first player must perform a short dance move. Then, the next player must mimic the dance move and add a new one.

Each player will take turns performing the previous moves while adding their own. There will eventually be a long sequence of dance moves, so the person who breaks the sequence loses! It could be another great date night idea, too.

16. Relay race

Hosting a relay race among friends can be a fun summer challenge that you can do while you’re home! The relay race requires at least two players, and the materials will vary based on the type of relay race.

There are messy outdoor water activities, like the fill-the-bucket water race or bobbing for coins, and fun indoor games, like necking the orange or passing the balloon. The types of relay races are endless, and are pretty easy to set up!

For your relay race, try to include at least two or three challenges that each person must complete before the next person on their team begins. The first team to finish everything wins!

17. 30-Day jump rope challenge

Jump rope is a great way to get your body moving and your heart pumping, especially if you don’t have that much time! The jump rope fitness challenge is great if you want to squeeze a little exercise into your day. The 30-day jump rope challenge requires at least one person and a jump rope.

Start off with as many skips as you feel comfortable with, then increase your skips in 25-50 intervals each day. By the end of the 30-day challenge, you might be able to get up to 1500 steps or more!

Of course, don’t forget to take breaks when needed. After all, this is supposed to be an enjoyable challenge!

18. Riff-off challenge

Love to sing? Then this is one of the most fun challenges to do at home with your friends. The riff-off challenge originated from the movie Pitch Perfect and has been a popular game since. This riff-off challenge requires at least two players and no materials are necessary.

One player starts the game by singing a song lyric, then stops at a word of their choice. Then, the other player has to sing a new song starting off with that particular word.

For example, if the song lyric is:

“I can’t help falling in love-“

The other participant can jump in with:

“-love never felt so good.”

The game ends when a player can’t think of a song to start at that particular word.

19. Alphabet game

The alphabet game has at least two people, and no materials are necessary, making it one of the easiest challenges to do with friends.

Each player will take turns acting out a random scene (e.g. friends at a party, or students in class). The first person must start their sentence off with the letter A, and the next player must start their sentence off with the letter B.

Each player must deliver their line starting with the next alphabet letter. The game’s objective is to go through the entire alphabet without stopping. Give each player about five seconds in between each turn.

If players can’t think of the next sentence before time is up, they are eliminated. The last player standing wins!

I think if you can think quickly on your feet, this is an extremely fun at home challenge.

20. Ice bucket challenge

You’ve likely heard of the ice bucket challenge and the role it played in promoting awareness and donations for ALS organizations. You can still support these organizations using the ice bucket challenge!

The idea is simple. Fill a bucket with ice water and choose a willing participant. Then, dump the bucket of water on their head. The idea is to increase donations for research and a cure for ALS, so try to give if possible!

Get your friends and family involved, challenging each other and donating.

21. Minute-to-win-it challenge

The minute-to-win-it challenge can either be played by one person, a group of people, or in teams. The materials vary based on which games you choose to do.

Make a scoreboard if you are playing with multiple people to track who or which teams win. The list of minute-to-win challenges is endless!

Play defying gravity and try to keep three balloons up for a minute, or see if you can completely wrap your friend up in streamers without exceeding the time limit. Sounds fun? Here are some minute to win it fun challenges to do at home!

22. Word recall challenge 

The word recall challenge requires at least two people, at least 4 sheets of paper, and a pen/pencil. Start by having one player write a list of 25 words (preferably 4-letter words) on a sheet of paper.

Then, give the other player two minutes to study the entire list. After the two minutes is over, take the list away and have that player write down every word they remember.

Finally, the players will switch roles and repeat the process. The person who can recall the most words wins!

23. Try not to laugh challenge

This challenge requires at least two players and a compilation of your favorite videos. You can also tell jokes or stories to try to get people to laugh. The players must sit through this without laughing.

The player that goes the longest without laughing wins. This at home challenge will brighten anyone’s day!

24. Photoshoot challenge

The photoshoot challenge requires at least one person and a camera (can be your mobile phone). Have a photoshoot in and around your house. Use your imagination to create backdrops and props from items lying around.

Then, share the silly pictures with your friends and family or on Instagram! Who knows, maybe you will love them so much that you will turn them into a profitable photography side hustle!

25. 100 layer challenge

The 100-layer challenge requires at least one person and 100 articles of the same type of clothing or makeup of your choice. If your clothing of choice is a shirt, then layer on 100 shirts.

If your makeup of choice is lipstick, then apply 100 layers of that lipstick. To play this game with a group of friends, see who can put on the 100 layers without quitting, or who can do so the fastest!

26. Pillow challenge

The pillow challenge involves taking common home decor (like a pillow) and turning it into a wearable piece.

It requires at least one person, a pillow, and accessories of choice. Turn your pillow into a dress or a skirt and embellish your outfit with accessories! Then, have a photo shoot around your house and share your pictures with friends and family!

27. Cleaning challenge 

Need to get some cleaning done but don’t have the motivation to do it? Decluttering your life can have a ton of benefits, like reduced stress and increased focus. And decluttering doesn’t have to be boring, either!

It can be one of the most fun challenges to do at home. Simply spice up your cleaning routine by turning it into a game. See how fast you can declutter your room, and try to beat that number each time you clean it.

Want to get your family to enjoy decluttering? Have a competition and see who can clean their room the fastest. Reward the winner with a prize afterward!

28. Getting to know you challenge

Getting to know you is one of the best at home challenges for new best friends or long-time partners. Good communication builds strong relationships and can improve all aspects of your shared life. It doesn’t have to be daunting, either!

The getting to know you challenge facilitates conversation through the exchange of surface-level and personal questions. You can deepen your relationships by learning more about someone and having them learn more about you!

You can make it a challenge by having each person ask a question and then the next person for a set amount of time. Or you could have each person ask several questions in a row and see who runs out of questions first!

29. Escape room challenge

An escape room challenge takes some prep time, but it’s worth it and is a memorable way to spend an afternoon.

First, find a place to create your escape room, which could be an empty room or space in your home. Then, make clues and a puzzle that must be solved, each clue leading to the next one like a scavenger hunt. The final clue should solve the puzzle or open the door to the room.

It’s also fun to have a time limit so that there’s a sense of urgency during the game. See who can escape the room first or solve whatever the puzzle is!

30. Mannequin challenge

The mannequin challenge will put your skills to the test! Each participant must remain completely immobile, like a mannequin, at the start of the challenge. You can then see who can stay still the longest, or you can play music and have people freeze as you turn the music off and use a point system.

Be creative with this game, and try out different versions!

31. Cooking challenge

For this game, you need an impartial judge and 2 or more participants. Each person will be given a time limit (usually between 1 and 3 hours), and they must create a delicious meal. You can have everyone use the same ingredients or give people time to shop for their own.

If you are having everyone use the same ingredients, try to include some unique flavors that present a challenge, like watermelon or hot sauce. Or add a unique twist, like, the meal must involve chopsticks.

At the end of the time limit, they’ll serve their meal to the judge and be graded on things like originality, flavor, presentation of the food, etc. It’s a fun idea if you’re an amateur chef trying to perfect your craft or if you’re just having fun!

You can do multiple courses if you want, but the best part is that everyone can eat the food at the end!

32. Save money challenge

A money saving challenge like this is ideal if you have a bit of time and you want to improve your savings game! You’ll need at least two people for this challenge, though you can include as many as you like.

To play, agree on an amount of time, like a week or month. Then, see how much money you can save during that time.

For instance, you might see how much you can save in ten days. But remember, you must start from zero and not include previous savings!

A quicker version is to see how much cash you can find and save in a single afternoon. You might check your change jars, under the sofa, or in your car. In the end, see who found the most change.

If you want, treat yourselves to something fun, like ice cream, with the money you find!

Expert tip: You can still have fun spending time at home

Personally, I’ve discovered that trying out a fun at home challenge can save me a ton of money. It also helps me bond and spend quality time with my friends and family. Doing something like this can help you out if you’re on a strict budget or want to save a lot of money for a goal.
You can still spend time with your friends without spending a fortune. Pick one night a week, every two weeks or once a month to try out something fun!

What challenges can you do at home for kids?

There are so many fun challenges to do at home for kids, and some ideas include the accents and impersonation challenge, the blindfold makeover challenge, the blindfold drawing challenge, the whisper challenge, and the dance challenge.

Make sure to choose a challenge that will be entertaining or educational. Competition challenges can also be fun, but make sure that kids don’t get too competitive! Instead, help them remember to have fun and do their best.

What at home challenges can you do by yourself?

On your own? Not to worry, there are several challenges you can do at home alone that are a ton of fun!

For example, you can try out the chubby bunny challenge, the egg-dropping challenge, the 100-layer challenge, the cleaning challenge, and the 30-day jump rope challenge.

Another great challenge is the saving money challenge. You can compete with yourself to save more money each week or month than the one before.

Be sure to check out our list of things to do when you’re bored!

What are fun challenges to do at home with friends?

Some fun challenges to do with friends include makeup or drawing challenges, baking challenges, and even money challenges. It’s important to pick something that interests you and your friend group.

To find the right games, I like to consider whether my friends and I enjoy competition, art, or practical games. Then, I choose things that will be both entertaining and help me spend quality time with the people I care about!

Why is it more fun to do a challenge with friends or family?

It’s more fun to try out a game or challenge with people you care about because it can help you become closer. You’re spending quality time together and doing something fun and memorable!

Additionally, some challenges can be fun on your own, but others are better with a group. You’ll create fun memories and may discover hidden talents you didn’t even know you had, such as cooking or drawing.

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Try these fun challenges to do at home!

These at home challenges are an excellent way to enjoy the day without spending a bunch of money. Even if you are a working mother of three kids, a full-time graduate student, or a working professional, you are never too busy to have fun. “Playing” as adults can have lots of benefits, and can be considered a form of self-care.

The best part is that having fun can be completely inexpensive and guilt-free! Learn how to incorporate “fun” into your budget by creating a budget that works for you with our completely free budgeting course! You can also make saving money fun by trying out some different money-saving challenges.

Check out the Clever Girls Know podcast and YouTube channel for more fun ideas on how to save money!

The post 32 Fun Challenges To Do At Home Instead Of Going Out appeared first on Clever Girl Finance.

Women can do anything because we are truly amazing. And if you’re looking for side hustles for women that make real money, we have just the list for you!

To choose the right side hustle for you to try, it’s all about looking for ones where you can use the skills you already have. Then you’ll need to decide how much money you’d want to earn. And you’ll also need to consider how much money, time, and effort you can afford to invest. So keep reading to learn more!

When you’re starting a side hustle, your idea can come from a place of passion, or you can pursue something you’re already good at. The possibilities are endless! All you need are a few tools, a good work ethic, and an entrepreneurial spirit.

That said, in this article, I ‘ll be breaking down some of the best side hustles for women!

27 Lucrative side hustles for women

Time is money, so I’ve rounded up some of the best-earning jobs! With the gig economy being so strong right now, there’s never been a better time to explore side hustles for women. Plus, it’s always a great idea to earn more money if you can.

With a side hustle, you can work online, part-time, or however you want to design it.  So read through this list to get an idea or two for your next venture. (And be sure to check out our list of best side hustle books as well!). Let’s get into it!

1. Offer freelancing services

In the USA, there are over 70 million freelancers, which make up about 36% of the workforce. I personally find that freelancing is great because it offers flexibility and a high potential for full-time income. 

I can work from anywhere, pursue personal passions, and earn extra money. It also allows me the opportunity to use the money making skills I already have. When I became a freelance writer, I really enjoyed the freedom with my time, as well as the ability to set my own prices and find clients I wanted to work with.

For example, I could choose to go out and get my own clients from the start. I was also able to join the three most popular freelancing sites, Upwork, Fiverr, and Freelancer.com which gave me more options to find work.

Freelancing also offers a wide variety of industries and job categories to pursue. For instance, you can make money freelance writing, manage social media accounts, or do video editing. In addition, skilled graphic designers, web developers, and coders are in demand in pretty much any industry.

2. Become a bookkeeper

If you have bookkeeping skills, you only need a reliable internet connection, a laptop, and and an online meeting tool like Zoom or Google Meet to start offering your services.

You can provide bookkeeping services online or offline, and it can be one of the best side jobs for women who are great at math and business management. Your clients can range from local businesses in your area to hundreds of business owners online.

Whether you decide to work online or in person, your clients may prefer one accounting software over another. So, you may need to learn and become comfortable with the most popular ones.

To get started you can check out Quickbooks and Freshbooks for an easy and affordable way to get your bookkeeping side hustle started.

3. Start a blog

Blogging is easily one of the best side hustles for women who want to make money online. It’s also a great way to share your expertise and provide value to people looking for information or guidance. 

However, making money with blogging is a long game that requires a monetization strategy and a lot of hard work.

But if done the right way, it can become a profitable way to earn money. In fact, there are many bloggers in different niches earning six figures and even seven figures a year! 

With blogging, you have the ability to generate income in several ways. For instance, bloggers can get paid for sponsored blog posts, affiliate marketing, and allowing ads on their websites. And some offer digital or physical products such as journals, clothing, and more. Want to learn more? Read our detailed article on how to become a blogger and start making money!

4. Proofread for businesses

Proofreading is the final check before a document or an article is published or shared. Proofreading is among the best side hustles for women because the hours are usually very flexible. And if you have a full-time job, you can work around it easily. 

A proofreading job focuses on correcting errors and inconsistencies in grammar, spelling, punctuation, and capitalization. So, if you have a great eye for detail and love to read, you can make extra cash as a proofreader.

You can proofread for any type of business that publishes newsletters, sends emails, etc. And since most companies have websites, you can offer your services to every business that publishes blogs and articles. And you can also work as a writer and author for clients.

For aspiring proofreaders, the Louise Harnby website has tons of resources and amazing insights. The American Copy Editors Society is also a great place to start. And if you’re looking to network, LinkedIn is full of writers and proofreaders.

5. Become a transcriptionist

A transcriptionist listens to recorded or live audio files and converts what they hear into written content. If you have good grammar skills and pay attention to detail, then consider transcription services.

You also have an edge if you already work in the medical or legal fields because that’s where most of the need comes from.

If you’re not in the medical or legal field, you can still offer general transcription to corporate clients.

In addition, I find that being a transcriptionist is an excellent option for side hustles for women who don’t have set free time. It offers many benefits, including working at your own pace and according to your own schedule.

You’ll need transcription software, a good headset, and reliable internet to get started. Check out places to find online transcription jobs in this article from The Write Life.

6. Tutor students

Tutoring also offers one of the best opportunities for side hustles for women who have a passion for teaching. And if you already have the skills and experience, you can be an online tutor or teach in person for just about any subject and make an extra income.

You can advertise your services around your town or city. Alternatively you can sign up with online sites like the ones on this list from Indeed.

7. Teach English online

If you’re looking for ways to work from home by teaching English online, consider VIPKid. They connect you to children who want to learn how to speak English. It’s a one-on-one format, and the sessions are quick.

And you won’t have to spend time making lesson plans. So you can focus on teaching. 

However, since your students are mostly from China, VIPKid teachers work late nights, but this may work well with your day job, depending on your schedule. So, that is something you’ll have to consider if you want to try teaching English online as a side hustle.

Other websites to consider include Preply and Cambly.

8. Sell an online course

As people actively seek ways to learn new high-income skills or gain new knowledge, online courses have become incredibly popular. And they’re not limited to accredited education anymore. There’s an online course for just about anything.

To get started, think of something you’re really good at. Which might be content editing, drawing, writing, etc. Figure out how to teach others how to get to your skill level.

Next, set up your course and earn money as students enroll. Check out this list of sites from Zapier where you can sell your course.

Selling courses is also one of those side hustles for women that can be considered a long game. But over time, it can become one of the best passive income streams.

9. Start a virtual assistant service

Virtual assistant services are one of my favorite side hustles! Basically, as a virtual assistant, you provide services to individuals and businesses with all kinds of online administrative tasks. You can offer services depending on skills you already have or are willing to learn.

Virtual assistants generally help clients respond to emails, schedule meetings, offer customer support, and do bookkeeping.

You can also offer more specific virtual assistant services such as social media management (Facebook, Instagram, Pinterest, etc.), blog management, content creation, etc.

Ultimately, what you offer will depend on tasks you enjoy doing and the kind of clients you’d like to work with, making this one of the best side hustles for women.

Being a virtual assistant is a great way to make extra money if you’re detail-oriented and awesome at time management. To get started, you’ll also find free virtual assistant training videos on YouTube! And there are many courses and certifications you can take to brush up on skills like social media and digital marketing.

Then, you can focus on finding clients by reaching out by email, social media, or setting up a website.

10. Be a wedding photographer

Do you take amazing pictures? If so, you can make some money on the side by being a wedding photographer! You can book clients according to your schedule and make money from doing something you enjoy.

It can be a profitable side hustle but wedding photography work may require being available on weekends.

Aside from photographing weddings, you can also venture into doing sessions with families, influencers, or local businesses. And sites like Shutterstock allow you to sell and earn a small commission for your photos.

11. Resell on Amazon

Reselling on marketplaces like Amazon is among the best side hustles for women looking to make extra cash. You can sell items ranging from electronics and used books to anything customers may need.

If you have a savvy eye for selecting the best items to resell, becoming a seller on Amazon is for you. With Amazon’s system already in place, you don’t have to build your audience.

So, you can focus on picking the right products, taking good photos, and making sure you have clear descriptions and keywords in your listing.

You can also flip items that you find and fix them up to look new. For example, painting or reupholstering furniture. Flipping items can help you to make quite a profit.

12. Sell handmade products

Similarly, if you’re good at crafts or making things with your hands, you can sell your products on Etsy. It is the largest online marketplace for handmade crafts such as embroidered goods, jewelry, journals, home goods, upcycled items, soaps and so much more. Make money from your hobby!

Also, the products are not limited to handmade physical goods. You can make and sell digital products and printables on Etsy, such as graphics that customers can download. It is one of the better side gigs because digital products can quickly become passive income.

13. Start an online consignment store

If you are interested in and are knowledgeable about certain items like clothes, electronics, toys, or antiques, you could start an online consignment store.

You can also specialize in smaller markets. For instance, rather than selling all types of clothes, you can choose to only accept children’s clothes, designer brands, or vintage items.

Personally, my favorite way to shop is through consignment stores. And I mostly buy from three places that carry brands I like. I’m comfortable spending money on pre-owned designer bags there because I trust the owner and know she vets every item.

It can be a great part-time job to do in your spare time. You can start your own website for this or use eBay.

14. Walk dogs or pet sit

Dog walking and pet sitting have always been available as side hustles for women to make money. And thanks to apps like Rover and Wag, it’s now easier for dog walkers and responsible pet owners to connect. The earning potential isn’t bad, either.

Dog walking is a great side hustle because the clients are adorable, you get exercise, and you can book according to your schedule.

15. Become a makeup artist

Make money from your ability to make other women feel beautiful. You can offer your services as a makeup artist for events like weddings, proms, or family photos. You just need clean tools, makeup, and your expertise to get started.

Use social media platforms and word of mouth to advertise. You can book clients to come to your home, or you can travel to them, making this one of the great side hustle ideas for women!

16. Start a laundry service

Yes, you read that right! You can make extra money by starting a laundry service. You can start your own laundry service and advertise around your city and through social media like Facebook ads.

And you can also check out Laundry Care. You can apply as a provider, and they’ll help you set up your own laundry service and handle all of the paperwork – like billing clients for you. Starting a laundry service can be a good job for moms also, as it’s easy to fit it around any schedule.

17. Start a cleaning service

If cleaning is something you consider a relaxing activity, a cleaning service could be the right side hustle for you. I personally think cleaning houses is a nice, quiet job, and I can do it on my own time, typically any time during the day.

And depending on the level of cleaning you offer, it can be done in a few hours. When I cleaned houses as a side job, I found that it would usually take about three hours to fully clean a house. Set your own prices and try to take on some long-term clients, making this a lucrative side hustle.

You would need a reliable way to get to jobs, so it’s best if you have a car. Start with one client or two, do a great job, and you’ll see your clients double through word of mouth.

18. Join a delivery service

Today, you can deliver just about anything and get paid for it. Popular side hustles for women include driving people, working as couriers, food delivery drivers, or delivering groceries.

So, if you’re comfortable driving people around, you can drive for Uber or Lyft. You can also become a food delivery driver for Uber Eats, Skip the Dishes, or DoorDash. And then, there’s Instacart for grocery deliveries.

With any of these side hustles, you can set the hours and areas you’ll work. And you can even decide which jobs you’ll pick up. Slight caveat – the average pay can be less than what you see online. And how much you make depends on your work times and how generous customers are.

19. Sell a book you wrote

If you’ve written a book or you have a great idea for one, you can sell it and make money from the royalties. This is likely the best of the side jobs for women if you love to write.

First, decide if your book will be fiction or non-fiction and come up with an outline. Then, do the actual book writing and editing, and then it will be time to publish. You can go for a traditional publisher or try out self-publishing.

And remember that a book can make you money for years to come, as long as people keep buying it.

20. Create an app

If you’re great with technology, you can create an app. You can first come up with app ideas that will help your customers with something or make their lives easier. Then, start creating the product.

You’ll likely need to know how to code and understand app development tools. After it’s ready, you can sell it and make money from advertising and subscriptions.

21. Sell baked goods at home

If you’re an excellent baker and you want a work from home job, then open a baking business right in your kitchen! You can create a website, take orders, and bake and deliver the treats.

You may need to acquire a license for this, as well as fulfill other kitchen requirements, but it can be a lucrative way to make money and you can do this during your free time. Remember to include the price of supplies when setting your fees. 

Enjoy coming up with new recipes, baking and packaging the products, and selling them to repeat customers!

22. Purchase or rent out real estate

If you want to get into real estate, there are many ways to do so and make money, making this one of the best side hustles for women.

The first and simplest method is to rent out part of your home, such as a basement or an extra room. You can do this using Airbnb or take on a more permanent tenant.

Another way is to start investing in REITs (Real Estate Investment Trusts). It will take a while to see a profit, but you can make money!

Yet another way is to purchase a rental property or commercial space and rent it out. Obviously, this would take some startup capital, but it can be very lucrative.

23. Be a chef

Are you a great cook? Become a personal chef! People can hire you to do their shopping, come up with a menu, and cook their meals for the week.

Not only is this a creative job that is fun, but you’ll also be able to help others save time and eat healthy meals!

You may need licenses and permits to do this job. It’s a fun career, and you can likely pick your hours to some extent.

24. Create a subscription box service

Have you ever seen those cute subscription boxes you can buy with all sorts of themes? From coffee to nail polish, there’s a subscription box that provides items monthly for its subscribers.

You can create your own business doing this. You’ll need an idea, a website, and customers to start.

25. Be a mystery shopper

Get paid to mystery shop! Go into stores and report on your experience, which will likely include how the store looks, how professional the employees are, etc.

If you have an eye for detail and you have the extra time, this can make a great side hustle.

Plus, you get to go to stores you love, so that makes it fun for people who enjoy shopping.

26. Become a home organizer

Is your house neat and tidy all the time? You might be the perfect candidate to become a professional organizer! You can specialize in organizing closets, garages, or whole houses. 

According to Clutterless Home Solutions, the best way to begin with something like this is to focus on creating a brand and use social media to market your services.

27. Be a fitness instructor

Do you love helping others to be healthy? Are you encouraging and supportive? You might have what it takes to be a fitness instructor.

You can teach classes one-on-one or work with a group of clients, depending on your schedule. According to Coursera, you need to obtain the necessary certifications, and choose a specialty like yoga or senior fitness, and figure out where you will work, such as a gym or if you will freelance.

Expert tip: Create a plan of action for your side hustle

When it comes to the best side jobs for women, it’s all about creating a plan of action. When I started my side hustle as a freelancer, I laid out the services I would offer, my target customers, and my plan to market my business.

I also think it’s essential that you create a budget for your business so you can plan your financials to make a profit! For me it was ensuring, I could bring in enough each month to cover my business expenses and still save.

And remember to schedule everything. When I worked multiple jobs, I would schedule in my calendar my full time job hours, my side hustle hours, plus any time I planned to spend with family, etc. That way I never overbooked my schedule.

Why a side hustle is a great idea

Side hustles for women are a smart addition to your financial plan for a lot of reasons. If you’re considering starting a side job, here are some of the benefits.

Extra money for your goals

Side hustles make money, and that means that you can reach your financial goals faster. Whether that’s saving for a rental property, paying off credit card debt, or simply having more spending money, side hustles can help. 

If you’re working full time and you have a goal that will take you two years to achieve, side jobs give you the opportunity to reach it much faster, maybe even in half the time! 

Financial security

It’s good to have more than one source of income. Having an extra income provides more stability if you experience job loss or if your hours change at one of your jobs.

In addition, having extra money may enable you to save an emergency fund or financial cushion, so you have money to fall back on if needed. Overall, having a second job really gives you more freedom.

Possibilities for the future

You may start a side hustle based on something you enjoy doing or something that pays well. Having a side job is a good way to find out how much you can make from a job, and it may allow you to do work that you love full-time in the future.

Additionally, it could open the door for more job opportunities based on networking or working in a new industry that you were previously unfamiliar with.

What is a good side hustle for a woman?

A good side hustle for a woman is whatever you are interested in doing! There are no rules for what type of business a woman can or cannot do. 

So explore all the different ideas and options you have, decide on what you are interested in doing, and then take action to get started! You should also consider the amount of money you want to earn from your side hustle and choose something that is likely to help you earn that amount.

How can women make money on the side?

When it comes to making money on the side with a side hustle, it’s all about having a business budget in place to track your income and expenses so you can plan to become profitable as soon as possible. 

Starting a business from scratch essentially means keeping your expenses low, implementing a marketing plan to get more customers, and understanding how to maximize your profit margins.

How can I make an extra $2,000 a month?

You can definitely make an extra $2,000 a month with a side hustle. $2,000 monthly is ~$71 a day or ~$500 a week. Knowing this, you can explore different side hustle ideas that earn you this amount.

Consider side hustles tied to products and services that are in high demand. For example, financial services, food services, childcare services, and personal care services are all great places to explore.

Keep in mind you need to give your side hustle time to grow and work up to being able to make $2,000 a month.

What side hustles pay the most?

Typically, side hustles in the fields of technology and marketing tend to pay very well. You may also consider starting a freelancing business where you can set your own rates, like freelance writing, editing, etc., because then you can decide how much you want to make.

While some jobs do tend to pay higher than others, remember that if you really set your mind to it, there are many careers that you can be successful in.

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If you enjoyed this article on the best side hustles for women, check out this related content.

• How To Get Clients Online For Your Side Hustle
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• 12 Of The Best Side Hustle Books To Check Out!
• 7 Steps For How To Start A Side Hustle

 Boost your income with these money-making side hustles for women!

To get started with side hustle ideas for women, start with something you’re good at or something that you would like to spend time doing.

And if you want to make more money, consider taking our completely free “Build your business” bundle! Remember to save and invest the money you earn from side hustles so you can achieve your financial dreams!

The post 27 Side Hustles For Women That Make Real Money appeared first on Clever Girl Finance.

What happens when the breadwinner of a family of four suddenly passes away in an unexpected heart attack? In addition to emotional turmoil, the remaining family may face financial stress unless they have life insurance. One of the biggest benefits of life insurance is financial protection for loved ones.

While working in the financial services industry, I saw a very similar and unfortunate situation play out where the breadwinner of the family passed away suddenly.

Of course, there’s no replacement for a lost family member, but the money from life insurance helped the man’s wife and two young children have financial peace of mind. It gave them the space they needed to grieve. And that’s just some of the benefits of life insurance.

No one wants to think about their death, but it’s a part of life. Planning ahead with life insurance could help your loved ones overcome financial obstacles when you pass—and some policies can provide living benefits to you as well. Dive in to learn more about the advantages of life insurance and learn how to evaluate your life insurance needs.

Benefits of life insurance

You probably know how important life insurance is for women, but it’s still a good idea to understand the complex advantages and disadvantages of life insurance.

In most cases, the advantages of life insurance outweigh the disadvantages—by a lot. Let’s take a closer look at the distinct benefits of life insurance.

Help protect your loved ones

Life insurance is an important part of your estate planning checklist. One of the biggest advantages is the financial protection it provides your loved ones if you pass away.

Imagine what could happen to your family if you weren’t around to care for them. Depending on the situation, your loved ones could quickly fall into a bind without your financial support.

Unfortunately, that could lead to additional stress as they navigate an emotionally challenging time without you. With the financial support provided by insurance, your family can stay on track. Your thoughtfulness will continue to help provide for them while they grieve and beyond.

In addition, the payout from your insurance policy could help your family get ahead financially.

For example, your policy may be able to help cover the cost of college tuition for your children.

Peace of mind

Do you have dependents who rely on you to support their financial needs? If so, you may find it easier to see the benefits of life insurance, such as providing income replacement if you pass away.

You’ll protect your peace knowing that your family will be taken care of financially, even after you’re gone. The simple fact that your family will find financial help is enough to make anyone feel more comfortable.

It can cover funeral expenses

No one really wants to think about their funeral. But one of the leading benefits of life insurance is it can cover costly funeral expenses.

The median cost of a burial funeral in the United States is $8,300! That’s a lot of money that could help your family in their time of need.

Provide potential tax advantages

Some of the advantages of life insurance aren’t directly related to the payout of a policy. Namely, many life insurance plans offer tax benefits to policyholders and beneficiaries.

When an insured passes away, their beneficiary can receive a lump sum payout of the life insurance death benefit tax-free. Not having to pay taxes on a large sum of cash helps the money go further in covering expenses.

Policyholders can also get tax benefits from life insurance through tax-deferred cash value. Permanent life policies that include cash value components let policyholders save a portion of premium payments into a cash value account. The money in this account generally earns interest (or investment earnings) over time.

However, the policyholder doesn’t have to pay taxes on the earnings until they withdraw funds.

Build generational wealth

The most basic use of a life insurance policy is to provide financially for your loved ones after you’re gone.

For example, a policy might help replace your income so your partner can pay the mortgage and other ongoing bills well into the future.

However, you can also use a life insurance policy to build long-term wealth for your heirs—and generations to come. The right life insurance plan can provide the windfall needed to start the process of building generational wealth.

Generational wealth refers to assets that pass from one generation to the next. These assets continue to grow over time, providing each future generation with a larger financial safety net.

Let’s say you have a life insurance policy with a death benefit that could pay off your remaining mortgage balance with enough left over to invest. When you pass, your beneficiaries pay off the house.

Now, they have debt-free housing and can put more money into savings and investments. When they pass, their children inherit the house and a sizeable savings. The children rent the house for additional income and continue to invest their savings.

May offer living benefits

Many life insurance companies make it easy to tailor your life insurance policy to your needs through riders. Riders, also called policy endorsements, are optional coverage you can add to your regular policy.

Riders can increase the benefits of life insurance, but adding riders generally increases premiums. Insurance riders are most common on permanent life insurance, such as a whole-life policy.

Some of the most popular insurance riders are known as “living benefits.” Life insurance is designed to provide financial support to loved ones after you die, but living benefits riders let you use your policy while you’re still alive. Common living benefits riders include:

Accelerated death benefit

This rider gives the policyholder a portion of the death benefit if they’re diagnosed with a terminal illness and a shortened life expectancy, which they can use for medical bills and related expenses.

Critical illness

This endorsement pays the policyholder a lump sum payment if they’re diagnosed with a medical condition specified by the policy, such as cancer or heart attack.

Chronic illnesses

A chronic illness rider helps policyholders pay for caregiving costs if diagnosed with a chronic illness that impairs cognitive function or two or more activities of daily living (ADLs).

Long-term care coverage

This type of rider helps cover the cost of long-term care, such as living in a nursing home or assisted living facility.

Waiver of premium

This endorsement waives future premium payments if the policyholder becomes physically impaired or very ill.

Although less common, some term policies offer living benefit riders for policyholders.

For example, you may be able to add a terminal illness rider to a term policy.

Disadvantages of life insurance

Although there are many advantages, let’s dive into a few disadvantages to help you decide what’s best for your situation.

Certain policies are costly

In the long run, the benefits of life insurance are wonderful for your family.

However, some policies can get costly depending on the type of life insurance coverage you get. That’s why it’s important to evaluate your needs to determine what’s best for you and your family.

For example, I generally recommend that people looking for permanent life insurance consider universal life policies instead of whole life policies. That’s because whole-life policies can be more expensive when comparing premium dollars to benefits.

Discovering the advantages and disadvantages of life insurance can help you decide on coverage, which could save some costs. Be sure to do some research before getting a policy, such as understanding the difference between a term life policy vs whole life insurance policy.

Your age is also a factor in cost. For instance, the average term life insurance policy for a 25-year-old non-smoker is $31 per month, but if you’re 50, it’s $118.

Hidden terms or exclusions

Life insurance is complex and can be overwhelming if you don’t know what to look for when reading a policy. Some policies may have specific terms or exclusions of what’s covered that you’re expected to know.

For instance, some insurance carriers may deny you or the cost can be higher if you participate in dangerous sports like scuba diving or have health conditions.

This means if they do offer a policy, it will come at a higher price. Plan to review your policy with your agent so you understand precisely what it will cover if something happens to you.

Expert tip: Consider term life insurance at the minimum

Don’t think you can afford life insurance? Even if you don’t have a lot of assets or any dependents, a small budget-friendly life insurance policy, like term life insurance, could help loved ones cover your final expenses if you pass away. So take some time out to explore your term life insurance options based on your budget.

How life insurance works

Life insurance is a contract between you and a life insurance company. You promise to pay your premiums for the duration of the policy.

In return, your insurance company promises to pay the face value of your policy to your beneficiaries if you pass away while the policy is active. Your beneficiaries could be a spouse or partner, children, or even a charity organization.

There are also two main types of life insurance:

• Term life insurance policy
• Permanent life insurance (such as whole life or universal life insurance)

Term policies offer coverage for an agreed-upon term, such as 20 years. Your coverage expires at the end of the year.

Permanent coverage, on the other hand, provides insurance benefits for your entire life. Permanent policies include a cash value component, which lets you save up part of your premium in a savings account. Some permanent policies may even pay dividends.

Do I need life insurance?

Although there are clear benefits of life insurance, you may not think you need to pursue this path. Let’s look closer to find out if life insurance is in your best interests.

Do you have dependents?

If you have dependents who rely on your income, then life insurance is an easy decision. You should absolutely purchase a policy that will help protect your spouse and children if something happens to you.

If you don’t have any dependents, life insurance becomes a bit more complicated. While some people may wait until they are preparing for a baby or have children to take out a life insurance policy, there are benefits to getting one earlier than that, especially if you have a spouse who relies on your income.

Do you share financial obligations?

Beyond protecting your dependents, you should take measures to help protect anyone with whom you share financial obligations. Take a minute to consider any financial obligations that could become a burden to those you leave behind.

For example, many young, newlywed couples could benefit from life insurance, even if they do not have children. It’s especially true if they have a substantial amount of student loans or will need to lower credit card debt that requires two incomes to repay. If you left your spouse behind prematurely, could they comfortably afford the life you have built together?

Beyond shared debt between partners, you may have co-signed loans with another family member. Without life insurance, they could be put in a difficult situation if you left this world unexpectedly.

If you have a mortgage, life insurance can be a great way to guarantee your loved ones aren’t left with your debt if you pass away. I highly recommend a term life policy that covers the balance of your mortgage. Just make sure your term is at least as long as your remaining mortgage term.

Why shouldn’t I delay getting life insurance?

It’s easy to look at life insurance as another expense you don’t want to add to your budget. With that, it is tempting to put off purchasing a policy until it is absolutely necessary.

But if you delay it too long, it might be too late to help protect your family if something unexpected arises.

If you are looking to save money on life insurance, then you should move forward as quickly as possible. From a cost perspective, it makes more sense to purchase a life insurance policy while you are young.

In my experience working in life insurance, the cost increases significantly as you get older—even between ages 29 and 30! That’s simply because life insurance rates are often the cheapest when you are young and perceived to be very healthy.

Plus, it can be a better value for your money to purchase a policy earlier in life since you can typically lock in a lower rate when you are still young and in good health.

If you think your family could benefit from life insurance, now is the best time to act. Once you decide life insurance is a good choice for your situation, putting off the purchase could lead to higher rates.

Beyond the cost, delaying your life insurance could lead to dramatic consequences for your family if you aren’t able to finalize a policy in the event something happens to you.

Is it really worth having life insurance?

In many cases, yes! One of the benefits of life insurance is that there are many different types of policies to choose from. This makes it easy to find a policy that fits your needs and budget.

Life insurance can help your family pay expenses, cover funeral costs, and more without worry.

Do you gain money from life insurance?

Permanent life insurance policies feature a cash value component, which lets you build cash within your policy. You can use your cash value in many ways, including:

• Supplementing retirement income
• As an emergency fund
• Paying life insurance premiums
• Collateral for a loan

What types of life insurance are there?

There are several types of life insurance, but all fall into two categories: term life insurance and permanent life insurance. Term policies provide coverage for a specified amount of time, called the term. At the end of the term, the policy expires, and the insured is no longer covered.

Permanent insurance covers your entire life, providing you pay your premiums. Permanent policies also include cash value options to help you build cash savings from your premium payments.

Term insurance policies are generally less expensive than permanent policies.

Articles related to insurance

If you learned more about life insurance from this article, check out these other helpful reads about insurance!

• Do You Really Need A Million Dollar Life Insurance Policy?
• The Importance Of Life Insurance For Your Finances
• Term Life Insurance VS Whole Life Insurance? What’s Best For You?
• What Is Credit Life Insurance?

Get the benefits of life insurance to ensure your peace of mind

There are advantages and disadvantages of life insurance, but it is an excellent way to help protect your loved ones from financial stress.

With a life insurance policy, you can help protect your family from the financial repercussions of your passing. It can allow them to mourn in peace without wondering how they will be able to pay ongoing bills.

Even if you don’t have dependents or major assets, I recommend considering life insurance as a way to help cover your final expenses if you were to unexpectedly pass away.

Learn even more about life insurance with our completely free “Life Insurance 101” course! Don’t forget to tune into the Clever Girl Finance YouTube channel and Clever Girls Know podcast for more key financial tips!

The post The Benefits Of Life Insurance: Evaluating Your Needs appeared first on Clever Girl Finance.

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.

Articles related to the best jobs for moms

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.

If you are seeking jobs for stay at home moms, it is completely possible to find the right fit. As a mom, you are already juggling a wide range of responsibilities, and the last thing that you want to do is commute to a job on top of everything else that’s causing you stress. That’s where finding the right job as a stay at home mom can help. Keep reading!

The best part about working from home as a mom is that there are dozens of jobs to choose from. With some determination, you can find a job that will suit your schedule and your income needs. That means  you can stay home with your kids while earning an income and minimize any mom struggles with your finances. 

In this article, I’ll be going some of the best jobs for moms. You might be surprised at the variety of options available! 

Jobs for stay at home moms: 30 Best ideas 

If you are looking for a stay at home mom job to earn extra money, look no further. We have curated a list of jobs that might be a good fit for you. 

As you peruse this list of the best jobs for stay at home moms, consider the income potential and the time commitments involved. If you see something that grabs your interest, then do some more research to find out more about the opportunity. 

Here is a list of our favorite stay at home mom jobs! (p.s. These jobs are applicable to all stay-at-home parents) 

1. Freelance writer 

Average pay:  $65,000 per year 

As a freelance writer, you have the ability to earn an amazing income.  Personally, I make more than the average income each year as a writer. And I know many writers that completely blow that number out of the water.

Another benefit of this job is having control over your time, with the ability to work from anywhere. You get to make your own schedule, which is one of my favorite things about this job! 

Freelance writer job details 

A freelance writer can write about various subjects for many different people. You can take on odd jobs that you find on sites like UpWork, or you can choose to send your resume to hiring managers and interview as you normally would for a job. 

The best part about this option is that there are minimal start-up costs. If you have an internet connection and good typing skills, you can start freelance writing today. 

If you are interested in becoming a freelance writer, then check out our step-by-step guide. 

2. Virtual assistant 

Average pay: $75,000 per year 

If you have basic computer skills, you could be a successful virtual assistant. As a virtual assistant, you’ll be able to set your own hours and choose your hourly rate. As you gain more experience, you can work your way up to command a higher hourly rate. 

Virtual assistant job details 

As a virtual assistant, you can answer emails, make phone calls, act as a travel consultant, create schedules, and more for your clients. 

Virtual assistant jobs are great for moms who are highly organized and love to cross things off their to-do lists. To find your first job, seek out opportunities on sites like FlexJobs. 

3. Online ESL tutoring 

Average pay: $10-$20 per hour (depending on experience) 

If you have a love for teaching children, then teaching English online could be a good fit. Each company has its own set of rules for its teachers.

For example, some companies will require that you have a college degree but others do not. 

ESL tutor job details 

For this job, you’ll teach your students how to communicate in the English language. Check out companies like VIPKid and Teach Away to get started. 

P.S. We also have a list of great side hustles for teachers. 

4. Proofreader 

Median pay: $28 per hour

If you have a great eye for grammar, then you might be a perfect online proofreader. Since proofreading is another job that you can do on your own time, it’s something I’d recommend as a good fit for stay at home moms.

Sometimes, you may have to negotiate your hourly rate with clients and give examples of previous projects you have worked on.  

Proofreader job details 

A proofreader checks written work for errors, like grammar and spelling. Typically, this is the last stage of editing. 

If you want to try this out, I highly recommend checking out Proofread Anywhere. It is a great resource for becoming a freelance proofreader. 

5. Start a blog 

Average pay: $45,000 per year 

Building a successful blog is not an easy task. Although it can be demanding, it can also be very profitable, and you can pick a niche you love writing about. 

The income potential of a blogger is essentially unlimited. But you’ll need to be willing to put in hours of hard work before seeing the fruits of your labor.

There are a lot of variables when it comes to earning money as a blogger. You can make much more by using affiliate marketing links, selling your own products, or running ads. 

Blogging job details 

If you aren’t sure where to get started, then check out our step-by-step guide on how to become a blogger. You could get your own site up and running today and start writing your blog posts! 

The great thing is you can make this a part-time or full-time job depending on how big you want your blog to become. It’s another one of the best jobs for stay at home moms. 

6. Social media manager 

Average pay: $70,000 yearly 

Almost every business today has social media accounts that need maintenance. That’s where you can step in. You will create social media posts, engage with the audience, and more. 

If you have the skills to manage a social media presence effectively, many business owners are willing to pay you. 

Social media manager job details 

As you get started, you might want to familiarize yourself with various social media platforms.

For instance, Facebook, Instagram, Pinterest, Twitter, etc. 

Hootsuite advises that you get experience and network to get jobs. 

Make sure you are comfortable before you start selling your skills as a service. It’s one of the best stay at home mom jobs for those who enjoy social media. 

7. Data entry clerk 

Average pay: $15 per hour 

Data entry is fairly straightforward. You add data and information to the correct digital location. But many are willing to pay someone else to tackle this often tedious task. 

You can start earning money quickly without needing to get a lot of additional training, making it a top job for stay at home moms.  

Data entry job details 

If you are detail-oriented and willing to deal with data, you can find many opportunities as a data entry specialist.

However, you’ll need to be careful to avoid the massive amount of scams. 

But there are also a number of places to find legitimate work if you are patient. It can be one of the most flexible jobs, which is a huge bonus. 

8. Resume writer 

Average pay: $82,000 per year 

Being a resume writer can be one of the best jobs for work-life balance, as the hours are flexible. People at all stages of life need help with their resumes. 

Fresh graduates and those looking for better opportunities and career success will jump at the chance to polish their resumes. You can help them craft a resume that will stand out from the crowd. 

Earning money as a resume writer can be fairly lucrative because you can take on as many resumes as you want to write. 

Resume writer job details 

Start by building a portfolio of resumes by helping family and friends. Once you have a few success stories under your belt, you can command a higher rate. 

9. Graphic designer 

Average pay: $60,000 annually  

If you have a creative spark and computer skills, then graphic design is a perfect job. With the right skill set, many business owners would be ready and willing to hire you. 

Graphic design is one of the most lucrative and creative jobs, but you’ll need to build a portfolio before you can enjoy such a high rate.  

Graphic design job details 

If you want help getting started, check out the Graphic Design Bootcamp. You could sell your designs on sites like  Zazzle. 

10. Sell crafts 

Average pay: variable  

If you love crafting, why not make a business out of it? You can sell your crafts on Etsy and other platforms for a profit. It may surprise you what people will pay for a handcrafted item. 

Although you may find that crafting comes easily, not everyone is so lucky. You can help people create special gifts and memories while doing what you love. 

It’s actually pretty difficult to say what the typical pay is for this job because there is no typical pay! The amounts you can make on Etsy, for example, are quite varied. While there will be some startup costs, you will have unlimited income potential. 

Crafting job details 

Selling crafts is one of the best jobs, in my opinion! You’ll need crafting skills, obviously, a creative idea, and a place to sell your items. Many people opt for Etsy, but you could also try others like Handmade Amazon or Cratejoy. 

Check out our list of top money-making crafts you can do at home! 

11. Website designer 

Average pay: $53,000 a year 

In today’s world, most businesses need a website.

However, not all business owners are prepared to build their own. With your help, they can create a beautiful website. Teaching web design and creating a course to sell can earn you more than the average salary.  

Website designer job details 

Of course, you’ll need to learn more about the setup of a website before getting started. But this can be a very lucrative job. 

When you’ve acquired all the skills you’ll need, Skillcrush advises that you create a striking portfolio of work and then apply to jobs. 

12. Sell photos 

Average pay: $37,000 per year 

If you love taking pictures, then consider selling your photography. You could sell prints, conduct photo sessions, or photograph events. 

Photographers can easily make thousands of dollars for a single event.

For example, many wedding photographers are able to charge several thousand dollars for a single evening. 

Photographer job details 

To begin with this career, you may want to take courses and then spend time building your portfolio and website before looking for jobs. 

With the right skills and an investment in solid equipment, you could earn a great living as a photographer.

However, you’ll need to decide whether or not this would fit into your schedule. But it can be one of the highest-paying stay-at-home mom jobs you can do! 

13. Childcare 

Average pay: $32,000 yearly  

As a mom, you have plenty of experience with childcare. Why not provide childcare services to others? You would essentially become a babysitter for hire. 

Childcare job details 

Before you get started, make sure to review government childcare regulations and licensing. You can check out a site like Care.com to find childcare opportunities. 

You could also require that you babysit all children at your house with your kids. Since you are already caring for your own children, adding a few more could be a profitable addition to your day. 

14. Remote customer representative 

Average pay: $19 per hour  

There is an abundance of online customer service representative jobs out there.

To excel in this job, you’ll need to be able to deal with customers in a friendly way. You can get started with this type of job fairly quickly, making it a great career option to consider.  

Customer service representative job details 

Not everyone who calls in will be nice to you, but you need to be able to handle their request with ease. If you don’t mind this type of work, it can be a great opportunity! 

You can find jobs available on FlexJobs or Monster. Be sure to check out our in-depth list of the best remote jobs that pay well and companies to work for. 

15. Bookkeeper 

Average pay: $44,000 per annum 

Bookkeepers help business owners manage their day-to-day finances. You might be managing invoices or tracking income. You’ll need to be very detail-oriented and ready to tackle the numbers of a business. 

Ultimately, you can earn a decent salary for a job that allows you to work from home! 

Bookkeeper job details 

To become a bookkeeper, you’ll need to understand accounting software, tax returns, and more, and you should get some bookkeeping experience and then get certified. Bookkeeping is one of the best online jobs for moms who are good with numbers! 

16. Transcription 

Average pay: $21 per hour 

You can make money transcribing audio files into text. I’ve personally tried this one out, but it wasn’t my favorite way to earn a paycheck. You’ll need to have a knack for understanding sometimes jumbled words and writing them down neatly. 

Typically, you will be paid based on the length of the audio clip. Although there is a steep learning curve, you could earn a decent amount of money with transcription jobs if you have a good eye for this.  

Transcription job details 

You must be very patient for this job. At first, it might take you an extremely long time to make a clean transcript, but you’ll get better over time. 

If you’re looking for transcription work, a site like Rev is a good place to start. 

17. Search engine evaluator 

Average pay: $65,000 yearly  

Have you ever wondered how a search engine can pull up exactly what you were looking for? Part of the answer is through the help of search engine evaluators. 

The biggest issue you’ll run into is finding work when you need it. If this is a career you choose to pursue, you’ll need to put some effort into finding the gigs. 

Search engine evaluator job details 

A search engine evaluator looks over the results you get when using a search engine, then determines how accurate or good the results are. A good way to find this sort of job is to check out job sites online. 

18. Tutor 

Average pay: $24 per hour  

If you excel at a particular subject, then becoming a tutor can be a great option when it comes to jobs for stay at home moms.

However, you’ll need to be a great teacher. If you have the skills, though, the pay is pretty good, so this could be a great opportunity for you. 

Tutor job details 

The good news is that teaching is typically easier in a one-on-one setting. With that, you should be able to learn how to be a great tutor. 

To find a tutoring gig, you could find online tutor opportunities through sites like  Tutor.com. Or you could seek out students in your local area. 

19. Try dropshipping 

Average pay: $40,000 per year  

Building an online store can be one of the fun and worthwhile stay at home mom jobs. Although it is most definitely a lot of work, it opens up the door to unlimited income possibilities. 

Whilst the average pay is just over $40k per year, you can earn much more than this by regularly introducing new products and selling to the local market.  

Dropshipping job details 

When you choose to drop ship for your online store, you’ll let a third-party seller handle the shipping logistics. There is a process for starting this, and Forbes explains that you’ll need to choose suppliers and build your store. 

This option can have a steep learning curve, but it offers the opportunity to build a relatively hands-off source of passive income. 

20. Flip flea market finds 

Average pay: $100-$5000 per month  

If you, like me, love bargain shopping, why not turn that into a job? With an eye for high-quality items and a knack for repairs, I can flip many flea market finds and start flipping furniture into a healthy profit, and so can you! 

There are many variables in how much you earn, so an exact estimate depends on you and the items you flip. A few of the most profitable items to flip are power tools, furniture, and vintage clothing.  

Flipping items job details 

You can check out thrift stores and flea markets to find items you can repair and sell. Then put them up for sale on sites like Ebay. 

When you start this strategy, consider starting with a set budget. That way, you can get your feet wet without committing too much money. 

However, if you are searching for one of the most fun jobs online for moms, then you may want to give it a try! 

21. Become an interior designer 

Average pay: $70,000 yearly  

A sharp eye for design can help you build an interior design business. You can also help others to start loving their homes and maximize form and functionality. 

You may need to do home visits for this job, but you could also consider conducting video consultations. You’ll get a chance to be creative and help others with their homes while getting paid!  

Interior design job details 

You may need to obtain a degree for this job, as well as create a portfolio and gain work experience.

However, it is possible to have this career without a degree if you have the right skills. It’s one of the best jobs for stay at home moms if you enjoy designing and decorating. 

22. Editor 

Average pay: $60,000 per year  

One of the best flexible jobs for the at-home parent is a job in editing. I think this type of job is ideal, and I found that I need excellent grammar skills and a good understanding of SEO and keywords when working for an online publication. 

It’s possible to earn more than the average salary with expertise and hard work! 

Editor job details 

There are many types of editors, as well. So you’ll need to decide what sort of editor you want to be and ensure you have the right skills for the job. 

One of the simplest ways to get started in editing is by freelancing. You can use this list of places to search for online editing work. 

23. Become a coach 

Average pay: $60k+ per annum, depending on specialism  

There are many types of coaching, from health and fitness to life coaching. A coaching business is one of the best work-from-home jobs because you can choose your hours. 

It’s important that you pick something that you’re skilled at before coaching others and obtain all necessary certifications and education. 

The average pay will depend a lot on the type of coach you decide to be.

For example, an athletic coach will make $64,000 per annum, while a life coach usually makes $68,000 per year, and a business coach earns an impressive $70,000 per year on average. 

Coaching job details 

A coach will typically help their clients to achieve their goals. They help motivate them and guide them. It’s a great job for people with a positive outlook and a lot of patience to help others. 

In addition, you can do this from home by working online. You can create your own coaching business and work from wherever you want. 

24. Translator 

Average pay: $49,000 annually  

If you speak multiple languages fluently, you can get a job as a translator. It’s one of the best jobs because you can help people and make a great income simultaneously. 

Translator job details 

A translator changes the text from one language to another. You can do this job online. You can check out sites like Unbabel to find jobs. 

25. Event or wedding planner 

Average pay: $58,000 per year  

One of the really fun stay-at-home jobs is planning events such as parties and weddings. If you’ve planned either of these before and have a knack for organization, this could be the gig for you. It’s a really great job that allows you to use organizational, communication, and creative skills. 

Event planner job details 

While you will need to attend the events you plan to ensure everything is organized, you can likely do most of the planning, phone calls, and meetings online or on the phone. 

To get started with this career, you’ll need to build a portfolio and network. 

26. Professional organizer 

Average pay: $45,000 per annum  

Another of the best jobs for moms is to become a professional organizer. You may already feel like you do this all the time in your home, so why not get paid for it? It’s not a bad salary, and it’s a fun job! 

Professional organizer job details 

You will probably need to visit clients’ homes to organize them, but the hours are flexible. 

To begin with, you can get a certification or use your organizing experience. Then, find clients by reaching out to people you know. 

27. Start a YouTube channel 

Average pay: $49,000 a year 

A YouTube channel can be started anytime from anywhere, making it the perfect job for stay at home moms. And you can pick what subjects and content you talk about on your channel, so you can use the knowledge you already have. 

Whilst the average earnings are around $50k, there is unlimited potential in this career. Some YouTubers make millions of dollars, so if you become really great at this job, you could make a lot of money! 

YouTube job details 

You can create content and then monetize your channel. While this isn’t the easiest job to get started with, it can be done, and it includes a flexible schedule and the chance to be your own boss. 

28. Try travel consulting 

Average pay: $57,000 yearly 

If you are passionate about traveling and enjoy chatting with people, working remotely as a travel consultant could be the perfect job for you. You won’t need any previous experience to get started; you just need to excel at organization and communication skills.  

One of the most exciting things about being a virtual travel consultant is that your earnings aren’t capped, meaning you can make as much as you want! 

Travel consultant job details  

Your day will be spent planning travel services and booking holidays, transport, and excursions for customers via email, phone, or video conference.  

Keen to get started? There are two paths to this career. You can either apply for remote positions with a travel company or start your own travel agency business.  

29. Become a brand ambassador  

Average pay: $39,000 annually 

Does getting paid to spend your time on social media selling products sound like your dream job? Well, it’s a legitimate way to make money, and it can be very rewarding! The role would suit people with a background in retail, sales, or marketing, but anyone can do it.  

You may earn more or less than the average pay, but the more effort you put into selling, the bigger your financial rewards will be. Remember that your pay will fluctuate month-to-month as you will be paid a commission on your sales. 

A big perk of the job is receiving free stuff (often related to your promotion) and special discounts.  

Brand ambassador job details   

Your main job as a brand ambassador is to promote a brand, product, or service. You may be asked to interact with customers online or devise new marketing strategies.  

You can find brand ambassador jobs on job platforms directly on a company’s website. Demand tends to increase during holiday periods, so keep your eyes peeled during the summer and festive seasons.  

30. Create and sell training courses  

Average pay: variable ($100-$1m+) 

Do you have skills that are in demand? If so, you could make money from them by creating a course! Online training is continually on the rise, with no signs of slowing down.  

It isn’t a make-money-quick job, though. Creators typically will start making a few hundred dollars but the potential is huge. The exact amount you can expect to make per course will depend on the price you sell your course for and its intended audience.  

Creating and selling training course details  

If you want to give this way to make money a try, the first thing you need to do is find a topic that will sell. If you’re stuck for ideas, consider what you are good at. You’ll then need to create the content and decide on a price.  

You can sell your course on marketplaces such as Udemy or learning management systems such as Thinkific. These will offer different benefits, such as marketing, and help with course creation, so it’s important to research which avenue is best for you.  

Expert tip: Plan your work/life schedule in detail to create balance

When it comes to working various jobs for stay at home moms, it’s important that you plan your work and life schedule to ensure you have time for yourself and your kids. 
When I first started working from home as a freelance writer, I found it hard to separate work and caring for my 12 month old daughter. I would often try to do both at the same time, which never worked well! Then I tried only working while she was asleep, which left little to no time for myself.

I knew that I needed to organize my time better before I suffered from burnout.  So I started creating a daily routine schedule and it made a huge difference to my work and mental health. I would set my alarm for 5.30am to take time for myself before my family woke up. Some days I would do some Pilates or yoga and other days I would sit with a hot cup of coffee and a book and enjoy the quiet. I’d then plan the rest of my day around my daughter’s routine and daily chores, scheduling writing time in during her naps.  

Creating this routine helped me be the best version of myself and avoid any feelings of mom guilt. My best piece of advice for creating a schedule that works is to make it flexible and revise it from time to time to ensure it remains effective. Also, I had separate daily, weekly and monthly schedules which allowed me to plan my workload and other commitments in the short and long-term.  

 What is the best job for a stay-at-home mom? 

The best job for a stay at home mom is ultimately one that suits you and your lifestyle. It should be flexible, something you can do from home, and require no experience to get started.  

The best thing is that there are so many to choose from, so you can get paid to do a job that matches your interests and skills. Whether you have a way with words, enjoy talking to people, or are good with technology, there is something for everyone! 

A popular side job for a stay at home mom is copywriting, but there are many more! Becoming a virtual assistant, online tutor, or YouTuber are other great job ideas to consider.  

How can a stay at home mom get a job? 

Start by determining what kind of job you’d be interested in. Then, it’s time to dust off your resume and update your skills and experience, and start applying to companies. Practice interviewing and if necessary be prepared to explain any job gaps on your resume. 

If you prefer to work for yourself, you must lay out a business plan and set up an online brand and presence. Leveraging social media is a great way to market and promote your business. 

How can a stay at home mom make money realistically? 

To make money realistically as a stay at home mom, decide on what skills you can leverage to get a job or start a side hustle. For example, tutoring, becoming a virtual assistant, doing graphic design, etc. 

Next, it’s important to have a clear understanding of your income and expenses and create a budget that helps you track both. The key is to widen the gap between your income and expenses, so you have extra money to put aside toward your financial goals. 

Related articles for stay at home moms

If you enjoyed this article on the best jobs for moms, be sure to check out this related content:

• How To Afford Being A Stay At Home Mom
• Making Time For Your Finances As A Working Mom
• 8 Ways To Create A Winning Single Mom Budget
• Real Advice And Encouragement For The Struggling Mom

There are plenty of great stay at home mom jobs for you to try! 

There are many available jobs for stay at home moms. Regardless of if you are a single mom, looking for additional income, or getting back into the workforce. Hopefully, you’ve found something on this list that has piqued your interest. 

If so, take the time to pursue that opportunity. If not, brainstorm some ideas that would work for you. 

It is completely possible to earn an income as a stay at home mom. Take advantage of opportunities whenever you can. And be sure to have savings goals and a solid financial plan for the money you make. 

The post The 30 Best Jobs For Stay At Home Moms appeared first on Clever Girl Finance.

There’s no rule that we have to make all our New Year’s resolutions on January 1! Infact, it’s never too early or too late to think about our goals for the year. Additionally, figuring out your yearly goals can be an ongoing process. So keep reading to learn what key goals everyone should have in place!

Setting goals for the year isn’t meant to lock you into a rigid mindset of success or failure. It’s simply meant to help you reflect on what you want out of life and create steps to achieve it over time.

That said, you can set yearly goals in any or every area of life. Here are 29 ideas for yearly goals for your finances, career, health, relationships, and personal development!

For your finances

Since this blog is all about finances, it makes sense to start with some yearly financial goal ideas! The best new goals for the year will depend on where you are in your financial journey, of course.

You might already have some of these money goals checked off the list!

However, it’s always good to see where you stand and update your goals if needed.

1. Build or replenish your emergency fund (One of the most important yearly goals)

An emergency fund is the perfect first financial goal to have because this is the savings that will allow you to live without a job or deal with other surprise expenses without going into debt.

The recommended amount for your emergency savings is to have 3 to 6 months of basic living expenses i.e. for food, housing, transportation, core utilities, etc. But if that seems overwhelming, I say you should work on saving your first $1,000 and build from there!

2. Create a monthly budget that ties into your yearly goals

Budgeting is also a foundational financial goal because this is what allows you to get a full picture of how much you’re making, how much you’re spending, and where there might be leaks in the ship.

There are a variety of different budgeting methods, so you should pick the one that appeals to you most. Try a percentage budget or a biweekly budget or monthly budget, depending on what dates you are paid.

3. Start a side gig for extra income

We could all use a little extra cash, whether to pay down debt, increase savings, achieve a financial goal, or retire earlier. No matter what it is, starting a side hustle can help you speed up your goal timeline.

Check out these ideas for how to make an extra $1,000 a month, like freelance writing and starting an online store. If you’re thinking more about starting your own business on the side, start learning how to start a side hustle.

4. Contribute more to your retirement accounts

There’s no rule that you have to wait until you’re 65 or older to retire. The sooner you start saving, the sooner you will have that coveted financial freedom within your grasp.

Haven’t started a retirement account yet? Here’s everything you need to know about how to start saving for retirement!

5. Try a no-spend challenge

Have you heard of a no spend challenge? It’s a period of time, usually a couple of weeks to a month, during which you eliminate all non-essential spending.

You’ll still pay for rent, gas, utilities, groceries, and other necessities, but this is a chance to identify bad money habits and find new (free) ways to entertain yourself.

In my opinion, it’s a fantastic and simple way to save money. You can start with a no-spend week and then work your way through an entire month without spending excess money.

6. Plan your financial goals

There are different kinds of financial goals. Some will be short-term, like saving for Christmas on a budget or vacations. And some will be mid term goals, like saving up a house down payment or paying off a car.

Others are your long-term goals—the big stuff like paying off a mortgage or reaching a certain net worth by a specific age. Resolve to outline your financial goals so you can start measuring your progress.

7. Cultivate good money habits

Like any other habit, good money choices take practice and repetition.

Prioritize saving, whether you’re just getting started or you’re flexing your saving muscles by increasing how much you put away each time. Stay diligent with debt management, paying it down, and avoiding future debts.

And, of course, drop those bad habits. Nothing will block the path toward your goals like persistent bad habits such as credit card debt or overspending.

To build your career

Since most people work 9 to 5, five days a week, it’s important that we enjoy what we do and set up career strategies and goals for the year. Here are some good goals to have and ideas!

8. Learn new professional skills (One of the most lucrative yearly goals to set)

Learning new things doesn’t end after graduating high school or college. It’s a lifelong process! Improving your current money making skills and adding a new skill or two to your arsenal keeps you engaged, passionate, and competitive in your field.

It prepares you for promotions and enables you to switch jobs more easily if your circumstances change.

As an example, here are some high-income skills to help bring in more of that money!

9. Apply for a promotion

Sometimes, promotions just fall into our laps. Other times, you have to be bold and ask for them! It might sound intimidating, but there’s a right way to go about it.

I recommend thinking about what value you’ll bring to the role, asking your manager or coworkers if they see areas for improvement, and letting the higher-ups know you’re interested and ambitious.

However, the conversation can be as simple as asking your boss what you need to do to get to the next level or asking for a raise.

10. Create (or update) your website and resume

So, if you don’t have a personal website yet, building one would be a great yearly goal. A website is your own professional “home” on the internet.

You can use it to introduce yourself, highlight projects you’ve worked on, write blog posts to demonstrate expertise on certain topics, let recruiters know how to contact you, and so on. Update your resume simultaneously (even if you have a job gap)!

11. Strive for a healthy work-life balance

Is “work less” really a valid career goal? Definitely! If you’re starting to feel burned out, your body and brain are telling you that what you’re doing is unsustainable.

When you spend all your time working, you’re taking priority away from other important areas of your life—because you only have 24 hours in the day.

Over time, burnout will start to affect your career performance, so it’s important to stop it in its tracks. Check out our article on why time and money are both valuable (and how to play the balancing act between them).

I’m very intentional about taking breaks when I’m working and I have specific times where I fully disconnect from work like on the weekends and when I’m on vacation.

12. Network in your industry

These days, you can’t just walk into an office with a resume, shake the manager’s hand, and walk out with a job. Submitting online applications doesn’t feel much better. No matter how great your cover letter skills are, it’s still hard to distinguish yourself from dozens (or hundreds) of competitors.

This is where the phrase “it’s not always what you know, but who you know” holds true. The more you use networking tips and meet people in the industry, the more connections you’ll have for career opportunities, referrals to new companies, professional mentorship, etc.

13. Invest in yourself as one of your yearly goals

You are your greatest asset, so you’re also your best investment. Pour into yourself so that you can pour into your future and help others.

Seek out education, either to deepen your expertise or broaden your perspective. Choose conferences, mentors, and projects that will boost your career (and earning potential!).

And don’t overlook the “softer” side of investing in yourself. Find a self-care routine that fits your personal needs and your budget. Prioritize your health and well-being.

Not only will this equip you to tackle your goals, but it will also save you time and money in the long run by preventing illness and burnout.

14. Have a job (or build a business) that meets your needs

Most of us work to earn money. So, you absolutely want your job to meet your financial needs and fund your financial goals.

There are many reasons women face salary problems that make it challenging to reach their goals. Course correct by seeking a promotion, negotiating a salary increase, or finding somewhere you’re valued better. Answer the question of how much money you want to make: is 100k a year good? 200k?

For many people, actually liking their job is also one of their basic needs. If you want to retire super young and are willing to grind through tough conditions in the short term in exchange for big bucks, that might be the right solution for you. But if you want a long, fulfilling career that also pays the bills, make it happen.

If you can’t find what you’re looking for in your current job or work environment, seek one that feels right. Or, if entrepreneurship is calling your name, start your own business from scratch.

For your health

You only get one body, so it’s important to take care of it and your mental health. Here are some good goals for the year.

15. Focus on fresh, clean eating

When life gets busy, eating habits are often one of the first things to falter. It’s so easy to swing by the drive-through on your way home and certainly not so easy to do a monthly meal plan, chop and prep ingredients, cook, and wash dishes.

But the food we eat does have a huge impact on our health and wellbeing, so even though it requires a little added time and thought, clean eating is a worthwhile goal.

A whole food plant-based diet works well for me; I love sites like BudgetBytes for quick, simple meal ideas I can whip up at home. Learn more about living a healthy lifestyle on a budget.

16. Spend more time in nature

The Japanese have a beautiful term—shinrin-yoku—meaning “forest bathing.” The concept is all about the many benefits we get from nature, both mental and physical. Forest bathing is as simple as wandering along a nature trail, breathing in the fresh air, and admiring your surroundings.

Time in nature lowers stress and lifts our moods. Check out the AllTrails or TrailLink websites to find hidden gems in your area!

17. Find an exercise routine you love

Ideally, you can combine this goal with the one above by finding ways to exercise in nature! You can go for a bicycle ride, jog on a nature path, do yoga in your backyard at sunrise, or take a fitness class in the park—the options are plentiful.

There’s nothing wrong with an indoor workout or hitting the gym, either. Of course, any kind of movement is amazing for our health, including managing anxiety and improving mood.

18. Practice good “sleep hygiene”

Sleep is another daily habit that drastically impacts our lives. According to the Sleep Doctor, skimping on sleep affects our energy, mental functioning, memory, and more.

According to the Sleep Foundation, sleep “hygiene” is a collection of behaviors and surroundings that help improve sleep.

Create a good routine that includes whatever helps you relax, whether that’s meditation, listening to a podcast or reading, or anything that brings you comfort. Tips include following a consistent nightly routine, turning off electronics 30-60 minutes before bed, and sleeping in a cool, dark, comfortable room.

To improve your relationships

There are few things more important than the people we share our lives with, so make sure to include them in your goals for the year.

19. Learn the love languages

The “five love languages”, discovered by Gary Chapman, aren’t an exact science, but they are a great way to start conversations with your loved ones about what makes them feel most loved and appreciated.

The main five are:

1. Words of affirmation
2. Quality time
3. Physical touch
4. Acts of service
5. Receiving gifts

Much relationship strife comes from simple relationship communication problems and not understanding what the other person needs. If your partner most values quality time, a cheap picnic in the park might mean more than a $1,000 necklace.

20. Practice positivity and gratitude (Essential yearly goals to establish)

Sometimes, we can get into the habit of taking the people in our lives for granted. They’re the ones you turn to when you need to vent about your problems and bad days…and while this is important, too much complaining can turn the relationship negative.

Whether it’s with your partner, your best friend, or a parent or child, make it a goal to regularly share why you’re grateful for them and always do your best to appreciate the little things.

21. Try new experiences together

Falling into a dull routine is another phase many relationships go through. Go to work, come home, make dinner, watch TV, sleep, repeat. Carve out time to mix things up a little by trying new activities!

It doesn’t have to be fancy, and you don’t have to leave your house. Check out these budget-friendly at home date ideas like a paint night or backyard campout. Involve the whole family in some of your ideas, too, with family night ideas.

22. Prioritize your friendships

As people age, their social circles can narrow, as everyone is busy with their families, jobs, and lives. Be intentional about not letting treasured friendships fade!

Your “circle of influence” impacts everything from your mood to your eating habits to your finances. Surround yourself with the right people and make an effort to see them, and you’ll reap the rewards.

I’ve found that one of the best ways to stay in touch with my friends is to make it a point to text or call them monthly. That way, we can catch up over the phone or make plans to meet for dinner or something later in the week.

23. Establish firm boundaries with yourself and others

Boundaries can be scary, but they’re necessary to accomplish your goals. Stay disciplined with yourself. 

Become your best advocate in every part of your life. Reflect on what you need and want. Once it’s clear to yourself, make it known to those around you.

For example, if your family, friends, or partner have different spending philosophies than you, but you know your goals, it’s easier to stand firm in your decisions. Learning to speak up for yourself on the job can improve how you feel about your work environment and might even move you closer to your career goals.

Keep your eye on your goals and know that healthy boundaries will get you there faster.

For your personal development

Lastly, here are some goals for the year to help make your life fulfilling and help you with figuring out who you really are.

24. Read a certain amount of books a year

Books hold an incredible wealth of knowledge, entertainment, and life advice. Depending on how quickly you read, make it a goal to read a certain amount of books per year.

For instance, try starting with one a month to see how it goes. You can choose fiction, nonfiction, or a combination! 

Check out our recommendations for financial literacy books, career, business, and personal development books.

25. Define your personal core values

When was the last time you sat down with yourself and thought about what’s actually important to you? This is your time to get a little existential.

What kind of person do you want to be? What traits do you admire in others? How will you cultivate those traits in yourself and practice them in the real world?

Grab a journal and start brainstorming. You can even use journal prompts for self discovery.

For example, you can jot down something like…

• Independence is important to me, so I want to get out of debt and learn more self-reliance skills.
• I value compassion, so I want to get involved with charities/animal shelters.
• I value adventure, so I want to make more time to travel and try new things.

Discovering and defining your personal core values can help you lead the life you want to live.

26. Outline your strengths and weaknesses

Along the same lines, make it a yearly goal to assess your own strengths and weaknesses.

For example, this can be professional skills, personal traits, or whatever else you want to self-evaluate. Start with what you’re good at.

Do you keep a cool head in a crisis? Do you have a natural affinity for numbers or words? How can you leverage those strengths in your life? Then, move on to self improvement ideas.

Are your communication skills a little lacking? Do you struggle with time management or self-discipline? Self-awareness is the first step to fixing a problem!

27. Limit social media & TV

Did you know that the average internet user spends 143 minutes daily on social media, according to Statista? That’s almost two and a half hours every day scrolling through posts and pictures you’ll barely even remember tomorrow!

However, TV is even worse, with the average American logging 168 minutes per day, claims Oberlo.

So, if you have issues with poor sleep or creativity, all that screen time is likely one of the causes, according to Harvard Medical School. Make it a goal to spend less time in front of screens this year!

Also, a social media detox can even be beneficial for your finances.

28. Start a new hobby

So, what will you do with all that extra time once you’re not spending it scrolling on your phone or plunked in front of the TV? Start a new hobby! Try out a whole bunch to see what makes you feel passionate and energized.

It could be an outdoor hobby like hiking or kayaking, an indoor hobby like baking or playing an instrument, or even a hobby that makes money like woodworking or photography.

29. Manage your time

Time is money, after all! Spend your time doing something productive or something you love. (It’s even better when the task ticks both boxes.)

Maximize any time spent on a side business to earn more in less time.

Focus on quality time with loved ones rather than keeping one eye on your inbox and one thumb scrolling on your phone. And yes, sometimes rest really is the most productive way to spend your time.

I’ve found that the main thing with time management is to make a plan and follow it.

For instance, plan out how many hours of your week will be free time and how many will be spent on reaching your goals.

Expert tip: Make your goals smaller for success

For my big yearly goals that I want to meet, it helps for me make them smaller. I break them down by month, by week, and, if necessary, by day and I’ve found this approach to be very effective.

To help yourself stay organized with tracking your goals, use a yearly calendar on your phone or a planner. Then you can break down your goals into smaller chunks throughout the year and achieve them slowly without overwhelming yourself. Be sure to track your progress. I like to pick a day of the week, like Sunday, to go over my progress.

How to set your goals

As you consider all of these goal ideas, you may wonder what is the best way to begin. Try these ideas to help you set and stick to your plans.

Create your goals in a logical way

As you map out your goals, there’s no perfect formula. You could use SMART goals (specific, measurable, achievable, relevant, and time-bound). Or you could set firm goals and work backward to determine how they will play out.

You could also focus on the big picture of how you imagine your life and then calculate what milestones will get you there.

Remind yourself why your goals matter

Without a very specific reason for completing your goals, you may lose motivation. To stay focused, I like to remind myself why my goals are so important.

For instance, if I want to save a six-month emergency fund, I need to define why that matters. Something like, “I’m saving a six-month emergency fund so I can have financial peace of mind and avoid living paycheck to paycheck.”

Come up with a sentence that explains your why and refer to it when you are losing focus.

What are some examples of 1 year goals?

Some 1 year goals are saving a specific amount of money, learning a language, or committing to a new fitness routine. There are lots of short-term goals like these to choose from.

When thinking about year-long goals, consider how much time you can devote to them, how much money they will cost, etc. Ensure you can complete them in that amount of time, or you may lose focus. And reward yourself along the way!

What are 3 main good goals to have?

When choosing 3 main goals, try choosing from 3 important categories, such as finances, family, and health.

Or, if you prefer, one for personal development, one related to your career, and one just for fun.

Once you’ve chosen your categories, choose a reasonable goal to complete in a fairly short time frame, such as 1 to 3 years.

For instance, save $10,000 in a year, pay off debt, hike 100 miles over the course of a year, get a new job, etc. Pick whatever makes sense for you and enjoy the process.

Are there any fun goals and what are they?

Yes, there are plenty of fun goals, and since you make your own goals, these are up to you! If you aren’t sure where to begin, I suggest considering your interests.

If you love reading fiction, make it a goal to read books from 5 authors that are new to you. Or, if you are interested in making a higher salary, complete a course that is fun and challenging for you to help further your career.

Some other ideas to consider are taking on a new hobby or saving up a vacation budget and traveling somewhere you’ve always wanted to go. The main point is to make a goal out of something you enjoy.

Articles related to goals

If you’re all ready to get started on your brand new goals now, read these posts next for more inspiration!

• Examples Of Financial Goals
• Financial Goal Setting For Success
• New Month New Goals: Ideas For Goals To Set Each Month
• How To Successfully Plan For The Year

Yearly goals are a great way to improve your life!

In practice, these yearly goal ideas will look different for everyone because we all have different lives, resources, and circumstances. Now, it’s up to you to figure out which goals for the year are most important to you and how you’ll achieve them!

However, setting financial goals should definitely be at the top of the list because getting your money right leads to wealth and success. Learn how to create the right financial goals with our completely free goal setting course!

The post 29 Yearly Goals Everyone Should Have! appeared first on Clever Girl Finance.

The truth is that many problems contribute to low black homeownership statistics and homeownership rates. Yes, inequalities and racial disparities exist in the housing industry. But improving the black homeownership rate is still important, necessary, and attainable. Let’s take a look at the statistics and what we can do about them.

Why is black homeownership so important?

Becoming a black homeowner and understanding black homeownership statistics is about more than just a home purchase. It’s about laying a foundation for building generational wealth. In addition to being one of the biggest wealth-building assets, it’s also the base for family and financial security.

Here are more specific details about why it’s absolutely worth striving for.

Black homeownership helps build generational wealth

Looking back now at how history is affecting the present, early Black Americans had tremendous difficulty purchasing land and homes in the United States. And unfortunately, this has impacted how easy it is to leave a legacy to future generations.

Passing down a home is just one way that black families can begin to build generational wealth. Without a house as a key asset, each generation must find other ways to acquire enough wealth to leave to their children.

Owning a home provides financial options

A home can be your main vehicle for building wealth and increasing and tracking your net worth. And net worth is a goal worth improving.

But sadly, single black women have one of the lowest rates when it comes to net worth. How can this be changed? One way to close this racial wealth gap is by investing in real estate.

So, what’s the draw of being a first-time homebuyer? Well, for one, you can build home equity which can provide you with more financial options in the future. And you can use this equity in numerous ways.

Perhaps to pay off debt, increase your savings, or invest? Current homeowners can even buy a new home of greater value.

Another way to increase your net worth is to keep your home so it appreciates in value. Its value will increase over time. With this in mind, a home can be one of the greatest methods of wealth creation.

Homes provide safety and community

The benefits of homeownership go further. Not only does owning your own home provide a foundation for wealth building, but it’s also important for families.

A home is a safe space where families can grow and is the cornerstone of communities. A neighborhood filled with homeowners rather than tenants will have pride in their property and the local area.

Black homeownership statistics

Now, let’s examine the numbers and percentages to see how homeownership, income, and other factors affect Black Americans.

Percentage of Black Americans who own homes

Recent data from Census.gov reveals some information about black homeownership statistics:

• In the United States, Black or African American homeowners accounted for only 7.9% of the population, while black renters accounted for 18.8%.
• White households reached a percentage of 73.1% homeowners, with renters at 50.2%.
• The other largest categories of homeowners were Hispanic Americans at 10.5% and Asian Americans at 4.7% for homeownership.

This list reveals significant differences in homeownership. There is a much higher percentage of white families who own their homes compared to black families as well as families of other races.

In addition, the amount of black renter households is much higher than those that own their home.

The data is cause for concern, but we will discuss ways to improve these statistics for Black Americans. Let’s take a look at other factors that affect homeownership rates.

Incomes and other factors

Income affects our everyday lives, including how high of a mortgage payment we can afford. Because of this, it’s crucial to know about income statistics.

According to Census.gov and their chart about real median household income, Black Americans make an average of $52,860 per year.

An average salary of approximately $53,000 may make it difficult to afford a mortgage, depending on circumstances and location. This salary is approximately $4400 a month before taxes, and the median monthly mortgage payment is over $2200, according to Bankrate.

Location also shows differences in black homeownership statistics.

For example, according to the National Association of Realtors (NAR):

• The states with the highest black homeownership rates are South Carolina, Mississippi, and Delaware.
• North Dakota, South Dakota, and Alaska had the lowest rates.
• Including Washington DC, 16 states rated homeownership as higher than 44%.

Why black homeownership statistics are disproportionately low

But black homeownership statistics are still incredibly low. Why? Let’s take a closer look at housing equity and the factors that contribute to the disproportionately lower rate of homeownership for Black Americans.

Lending biases and interest rate disparities impact opportunities for black homebuyers

Housing discrimination is a practice that impedes the ability to rent or buy housing. It also prevents people from getting a mortgage or other housing-related activities. Discrimination is based on race, religion, sex, and other identifying factors.

Redlining was a form of mortgage discrimination or bias. It allowed lenders to deny mortgage loans to people living in areas that African Americans densely populated.

The Fair Housing Act was passed in 1968 to make such practices illegal. Other efforts have been made to undo these years of discrimination in the housing market, such as the Home Mortgage Disclosure Act data, which promotes lending transparency.

However, the effects of these practices still exist. Even today, they still impact homeownership rates.

Another form of home-buying discrimination is the disparities in interest rates.

According to Housing Matters, black homeowners on average are charged a higher interest rate by mortgage firms than white homeowners due to risk based pricing with credit and loan-to-value ratios.

Additionally, African Americans are more likely to be denied a loan. Statista shows that black households have the highest denial rates for mortgages from 2019 to quarter 3 of 2023.

One reason for this may be a lack of information for first-time homebuyers. Black mortgage applicants may not always be aware of the various programs that exist to help them become homeowners. And this continues to put black families at a disadvantage when it comes to acquiring lending.

Disproportionate debt load within the black community

Something else that affects black homeownership statistics is Black American households also have higher debt than other ethnic groups. Specifically with the student debt crisis.

Black students take out the most student loan debt, according to Bankrate, when getting a bachelor’s degree. Bankrate also explains that this has quite an impact following graduation.

Four years after finishing college, black students have nearly double the quantity of student loan debt that white students have. However, this is mainly due to the differences in interest accrual and borrowing money for graduate school.

Debt directly affects home buying. Why? Too much debt could mean lenders decline your mortgage application due to the risk of default.

Debt makes it hard to gain the funding required to buy a home.

Additionally, wage gaps for minorities and women also negatively impact your ability to pay off debt. Again, this makes it more difficult for black borrowers to get a mortgage.

Lack of access to capital for a downpayment

When you buy a home, you need to put down capital as a down payment for the property. Usually, this means saving hard to create this down payment for your future home. But the ability to save enough depends on how much you earn.

And this is another area where Black Americans are at a disadvantage. The annual median wage of all US workers is $42,000, but 43% of black workers earn less than $30,000 per year, according to McKinsey research.

In addition, many families live paycheck to paycheck, unable to even save for emergencies. One study found that most Americans have less than $1,000 in savings.

The result? Some people struggle to earn enough to save for the down payment of a home.

Expert tip: Don’t be discouraged, you can own a home

With all the negative statistics around black homeownership, it can be discouraging to think about owning it a home but it is possible and black homeownership is rising.

That said, it’s important to start saving for your any required home downpayment depending on where you plan to buy and the type of mortgage you qualify for as a first-time homebuyer. The down payment for a home is usually a large expense, but don’t forget that there are also other costs and fees to save up for.

When I was considering a home purchase, I also thought about HOA fees, property taxes, and maintenance costs. These are part of homeownership, so be sure to consider them in your budget before looking to purchase a house. You’ll also need to consider moving costs once you purchase your home.

Steps to improve black homeownership statistics

Ongoing work continues to level the difference between black and white homeownership rates. But in the meantime, there are ways to make housing affordability more likely. Let’s take a look.

Focus on getting financial education

First, focus on financial literacy basics, including budgeting your income. Budgeting means creating a plan to save, reduce debt, invest for the future, and pay bills.

Need some support? Check out our Clever Girl Finance Roadmap. You can also take advantage of our completely free personal finance courses.

Work to reduce debt

As we’ve discussed, debt impacts your ability to purchase and maintain a home.

So before buying a home, work to reduce your debt using a tactic like the debt snowball method. Ideally, you’ll have zero, but if not, try to pay down as much as possible.

Lenders evaluate your debt-to-income ratio. They want to know how much you earn each month and how much of that goes towards paying down your debt. It helps them determine your ability to make your monthly payments.

So, if you have too much debt compared to your income, this could reduce your likelihood of getting approved for a loan. Or it could mean you cannot borrow as much as you need for the home you have your eye on.

If this is a problem for you, consider these debt reduction strategies for attacking your debt.

Begin to prioritize savings (not just for a down payment)

Now that we’ve discussed black homeownership statistics, take steps to secure your financial future before buying a home. Having money saved for emergencies and retirement is necessary for financial stability. So, prioritize this before thinking about saving for a down payment.

But saving on a tight budget can be difficult, so there’s no harm in starting small. Every little contribution you make is a step in the right direction, which eventually adds up. Once you’ve saved for emergencies and put money toward retirement, start saving for a house down payment.

Improve your credit

Unless you’re a cash buyer, you must take out a home loan to buy a property. And credit plays a significant role in getting a home loan.

If your credit score is low, improving it will increase your chances of getting approved for a loan. And better yet, you’ll be eligible for loans with better interest rates.

So, what does your credit score include? Lenders will likely look at several factors, such as your credit utilization, payment history, and credit history length, in addition to other factors like credit mix.

Before applying for a home loan or any other type of loan, it’s essential to know how credit works and how these factors impact your credit score. From here, you can regularly monitor your credit and take the necessary steps to improve your score.

Research the mortgage and lending process

It’s important to know what to expect in a real estate transaction. Loan applications and the mortgage process involve a lot of paperwork.

Be aware of the steps you’ll need to take before purchasing a home, as well as how much house you can comfortably afford to buy.

According to Rocket Mortgage, you’ll need to have information about your job history and what you earn, your credit, and more. They also explain that the process includes a preapproval, an approval letter, and making an offer on a home.

In addition, find out what the cost will be for a median-priced home where you’d like to live. Numerous costs are involved besides the typical home price, including home appraisal/inspection, the cost of furniture, etc.

What is the racial homeownership gap?

The racial homeownership gap refers to the differences between homeownership by race. For instance, there is a large gap between the number of white homeowners and black homeowners in the United States.

As of 2022, the homeownership rate for white homeowners was 75%, compared to 45% for black homeowners, according to the U.S. Department of the Treasury.

What are the barriers to homeownership for minorities?

Some of the barriers for minority home buyers include lender biases tied to higher interest rates.

In addition, income can also be a factor, as lower incomes do not allow potential homeowners to save up a large down payment. Black Americans on average have lower incomes, making saving difficult.

These factors can be daunting, but together, we can all advocate for fair practices with mortgages.

Furthermore, budgeting and consistent saving can help with being financially prepared for a home.

What are the benefits of black homeownership?

Some of the benefits include the ability to build wealth over time with your house as an asset, especially with home improvement, and the option to make rental income if you want.

A house also provides you with security. Once your home is paid for, it gives you a permanent place to live and contributes significantly to net worth.

Articles related to homeownership

If you learned something new from these black homeownership statistics, read these posts to learn more about home buying and finances!

• Should I Buy A House Now Or Wait?
• Is A House An Asset Or A Liability?
• 13 Personal Finance Books By Black Women
• Advice For First Time Homebuyers: How To Prepare

Black homeownership is within reach

The statistics may not seem promising. But the truth is that homeownership is still attainable for black families. Becoming a first-time buyer is an excellent goal to have. Owning a home provides a legacy to future generations and helps build the foundation for generational wealth.

So, if your ultimate goal is to purchase your home, don’t let black homeownership statistics scare you. We can and will close the black homeownership gap with the right education and tools.

What’s next? If you’re ready to purchase your first home, check out our free first-time home buyers course and you’ll be starting on the right path!

The post Black Homeownership Statistics And How Things Can Be Improved appeared first on Clever Girl Finance.

When it comes to financial decisions, such as saving money and building wealth, we can all probably come up with several excuses as to why we haven’t done certain things. And everyone can likely make a long list of bad financial decisions they have made. Though we all have some money regrets, the important thing is that we acknowledge it and take steps to improve our finances!

Regardless of the money choices you’ve made, there is always some room for improvement when it comes to money. And the opportunity to improve can come from learning from other people’s money mistakes!

Especially as women, it is critical for us to get our finances in order. Not only do we earn less than men, but we spend more time out of the workforce having and raising children.

Additionally, we live longer than men on average.

This means we are likely to need more money over the long term to support ourselves, so we have to be smart about our finances.

So, let’s examine the most common bad financial decisions. Then we’ll discuss how to recover and start making better choices going forward!

15 Bad financial decisions to watch out for

Below are some of the most common bad financial decisions people make regarding their finances. Can you relate? Not to worry though! I’m also sharing they key ways in which you can avoid or recover from them.

1. Not saving any of your monthly income

When it comes to saving money, I’ve heard so many people complain that after they’ve paid their bills, they don’t have any money to contribute to their retirement accounts or to add to their emergency fund.

However, some of us still find money to buy non-essential items, go out for drinks and dinner, and so much more! A lot of times, I’ll even hear people say things like, “Well, dinner only costs $20, it doesn’t make a difference.”

However, putting away $20 a week for one year in a savings account with zero interest will give you $1,040 dollars at the end of the year. Imagine if you did that for five years. You’d have over $5,000. And saving $20 on a weekly basis is likely money you wouldn’t miss!

Not putting money into your savings account each month is common but can be harmful to your future self. It often happens when people don’t really have any concrete financial goal setting in place or think they have plenty of time to save in the future.

But by doing this, they end up paying themselves last. It’s definitely a bad financial decision.

What to do if you have not been saving:

One way to easily save is to establish the habit of trying out different budgeting methods and working with a monthly budget. Make it a point to save at least 10% of your monthly income before you spend anything. If 10% seems like a stretch right away, start with 5% and build up to 10% over the next few months.

Consider automating your deposits to your savings account, too—this will make sticking to your savings goals much easier.

2. Living large in your 20s

In your 20’s, you graduate from college, get your first big paycheck, and maybe move out on your own. And now you can do things that you couldn’t do when you didn’t make any money.

Also, you probably don’t have as many financial burdens as someone in their 30s or 40s. So it’s easy to put savings on the back burner while you enjoy those glorious twenties and make poor financial decisions.

Although it’s easy to get carried away when you first start earning money, don’t forget to think about your future.

What to do if you find yourself living large:

Yes, you might be young and yes you might have time to save.

However, nothing can replace lost time, and the power of compounding, so learn how to budget and prioritize your future financial well-being over your wants.

Your financial decision-making in your 20s has a huge impact on your future, and you should start to build wealth in your 20s if possible.

3. Making large purchases and not paying off your credit card

One of the most common bad financial decisions is not paying off a credit card. For many, a lot of credit card debt comes from buying things we don’t really need. From that awesome clothing sale to eating out every day, those small transactions can rack up pretty quickly, and before we know it, we are left with a pretty hefty credit card balance.

Avoid this regret by reminding yourself that credit is actually debt and the available balance on your credit card isn’t real money! It’s money you are borrowing and will have to pay back.

What to do if you have credit card debt:

I like to describe debt as a stumbling block on the path to building wealth. And to get past it, you need to have a plan to roll (or blast) that block out of your way! It can be very difficult to save money when you are paying back debt at high interest.

However, creating and executing a plan to aggressively attack your debt, especially credit card debt, allows you to pay it off as quickly as possible. Then, you can fully focus on saving more money.

If you currently have debt, stop using your credit card and establish a debt repayment plan, like the debt snowball method.

4. Delaying important financial decisions

Putting off important financial decisions, e.g., paying off debt, saving, investing, etc., can be a big financial mistake. Too many people promise themselves to get around to it, but instead of taking action, we waste so much time.

How to stop delaying financial decisions:

To stop delaying important financial decisions, start by breaking down the actions you need to take into smaller, manageable steps. Set specific deadlines for each step to create a sense of urgency.

Educate yourself about the decisions you need to make, whether it’s investing, budgeting, or debt management, so you feel more confident and empowered.

If you need to, seek support from financial professionals or mentors who can provide guidance and accountability. Challenge yourself to take at least one small action every day towards your financial goals, so you can build momentum and reduce procrastination.

Personally, to keep myself motivated I remind myself of the consequences of not taking action (not achieving my goals) and also of the benefits of making timely financial decisions.

5. Not investing

A really bad financial decision is deciding not to invest your money at all. But if you don’t invest, your money will not grow. And you need it to do so to afford the things you want in the future, like retirement.

If you think you must be an expert in the stock market to invest, think again! There are plenty of options, and with technology, learning how to start investing has never been easier.

How to start investing:

You can invest in the stock market, try real estate investing, or invest in a business. Whichever route you choose or if you decide to go with all three, it is critical that you do your research and understand the basics of what you are putting your money into.

The stock market can seem like gambling or a big scary place, but not if you know what you are doing and have investment objectives.

The returns on the stock market average about 10% over the long term and it’s one of the most popular forms of investing out there.

If you’re not confident about investing or don’t understand things like the difference between ETFs and index funds you can always seek help from a financial advisor. Advisors help you set up an investment portfolio based on your risk tolerance and individual situation.

You can also learn a ton about investing by enrolling in our completely free investing course!

Remember that the key to successful investment portfolios is diversification! So, be sure to have a diverse portfolio to ensure you are investing wisely.

6. Not having a backup plan

Not having a backup plan is a pretty bad financial mistake. Having a backup plan protects us from unplanned and expensive life occurrences.

For you to have a positive relationship with money, you need a backup plan—a solid one.

How to establish your back up plan:

Two of the most important aspect of your back up plan are having a fully-funded emergency fund (3 to 6 months of basic living expenses) and ensuring that you have the right types of insurance (health, auto, life, disability, home, renters etc.).

To fund your emergency savings, build it into your budget and put money toward it each time you get paid. Next assess your current life to determine what insurance gaps you have.

For example, do you rent an apartment but don’t have renters insurance? Do you need to increase your health insurance or auto insurance coverage?

Having these things in place will literally save you when life happens and help you maintain your financial plan.

You’ll have money to fall back on rather than having to leverage debt or lose all your savings and investments to cover your situation.

7. Not protecting your personal information

In today’s internet world, identity theft and credit fraud are rampant, and not taking the extra measures to protect your personal and financial information can be a bad financial decision.

So much of our specific information like address, date of birth, and more is information scammers and hackers can easily find due to so many data breaches in recent times.

How to protect your personal information:

Protecting yourself is simple once you get set up. It means staying on top of your credit reports, not entering your data on websites you don’t trust, and putting alerts or freezing your credit cards and credit profile.

Many banks and credit card companies also offer free credit monitoring services. I strongly recommend you take advantage of this.

8. Ignoring the small goals

Think saving $15 a week or paying $20 to your credit card this month isn’t worth noting? As insignificant as those mini goals might seem, they matter.

They can add up a lot over time. In my opinion, our small goals are what help us accomplish the bigger ones because they allow us to get started.

How to focus on your small financial goals:

Some specific examples of small financial goals include things like:

• Establishing a $1,000 emergency fund
• Making an extra payment on your credit card each month
• Finding ways to cut back on certain monthly expenses
• Contributing to your retirement savings account
• Improving your credit
• Exploring side hustles

And remember that having long-term goals is essential to defining your big picture. We all love those yearly goals.

However, if we don’t break these goals down into smaller chunks it’s easy to get overwhelmed. As a result, we’ll feel like we’re making no progress at all.

I like to make long-term goals along with short-term ones. Then, I keep my day-to-day focus on my short-term goals, and I find great progress that way.

9. Lack of accountability

When you have no personal accountability, there is no one to motivate you, remind you, or keep you focused on what you are trying to accomplish.

As a result, you might start getting complacent, putting things off, and finding yourself in the perpetual state of getting things done “later” or, worse still, telling yourself you can’t do it.

How to be accountable:

It’s important to adjust your circle of influence if necessary and get the accountability you need.

For me, this means sharing my financial goals and dreams with a trusted friend who will encourage me and ask about my progress. It stops me from making poor financial decisions.

10. Not checking in on your progress

How do you make progress with what you don’t track? You won’t know when you’ve achieved a goal or hit a milestone.

How to track your progress:

Checking in on your goals is a must. It could be as simple as creating a schedule to check in on your goals, noting both short and long term ones. One great way to do this is to use a planner.

For me, a goal planner can really keep me motivated and focused. It allows me to add a timeline for my goals and record them.

11. Not caring about your credit score

Perhaps you’ve made the mistake of getting into a lot of credit card debt or even missing loan payments. These things can negatively affect your credit.

Your credit can be rebuilt, and while it isn’t everything, it does matter. For instance, you need decent credit to get a mortgage and get a good loan interest rate.

How to stay on top of your credit score:

I like to keep an eye on my credit score and try to improve it as much as possible. Utilizing a free service like Credit Karma to check and monitor your score can be beneficial.

In addition, I recommend avoiding debt as much as possible. Budget and create a plan to pay off anything you spend on a credit card each month so you don’t carry a balance. Doing this will allow you to reach many of your goals more easily.

12. Buying things brand new that you could buy second-hand

Have you ever bought something expensive that is brand new without shopping around? I know I have! The problem is that you could be spending more money unnecessarily when you could have potentially found the same thing for less if you went the second hand route!

What to consider buying secondhand or pre-owned:

For instance, items like furniture, appliances or cars can be cheaper if they’re secondhand in some cases. Or perhaps you want to purchase a designer purse. You may be able to get a good deal on a pre-owned designer handbag and save hundreds!

Although buying used isn’t always the way to go, depending on the item’s condition, it can often be a good choice. When you save money on expensive items by checking for deals, you can use the money you save for other financial goals.

When I shop second-hand, I like to look for items in “like new” or “excellent” condition. This way I know I’m getting value for my money and not just buying something with little value left.

13. Not sticking to a budget

Budgets are a great way to improve our finances, but sometimes, it’s easy to ignore a money plan like this. When we make a budget and don’t follow it, our future selves will pay for it.

Not following a budget can lead to a lack of funds for emergencies, being unable to retire when you want to, feeling overwhelmed by debt, and more. To avoid this, create a budget and promise yourself you’ll stick to it, or start working on better budgeting if you already budget.

How to stick to a budget:

First things first, it’s all about finding a good budgeting method. Finding a budget that works for you might take time, but when you do, you’ll be able to take full control of your money and make real progress.

One you determine your budgeting method, write out your expenses and your income. Then, determine how much your essentials cost each month and what is left over afterward.

Additionally, make a plan for what you’ll do with any money left over. You can make your budget as detailed as you want, but this is a very easy way to begin.

But remember, making a money plan is easy. Sticking to it may not be. So, decide how to handle it when you want to overspend.

You might try using a reward system, getting accountability, or whatever works for you to help you stick to the plan you made.

14. Forgetting to celebrate

It’s easy to think that you should only celebrate the big things or forget to reward yourself for your progress. But it’s what keeps you motivated!

Even if your progress was small it doesn’t mean it’s not worthwhile. Celebrate all victories, no matter how big or small. Not everything you do will result in massive strides, but it all adds up and gets you closer to where you want to be.

And your financial life isn’t going to be just the big moments. There are many smaller things to celebrate, such as paying off a credit card, sticking to your budget for a month, or saving up a few thousand dollars.

How to celebrate your wins!

Celebrate yourself by journaling about your financial victories, cooking a favorite meal, or taking a day or weekend for yourself. It makes everything more worthwhile.

15. Not getting back up after you slip

Don’t settle for a situation because you made a mistake, caught yourself over spending, or bought something you shouldn’t have. Slip-ups will happen. Give yourself the grace to recognize your error or mistake, remember your why, and get back to work!

How to get back up after a slip:

Know that you are not the first or last to make unwise financial decisions, and the important thing is the progress you make over time. One slip-up doesn’t make or break your money goals forever – your daily habits are what matter most.

The worst thing you can do after a mistake is give up. The best thing is to simply try again. So dust yourself off, remember your “why”, review your goals and get back it!

Expert tip: Focus on life beyond your finances

How we handle money is important. But I find that it’s best to keep things in perspective, especially if I feel I’ve made a money mistake. While unwise financial decisions can slow our progress, there’s a healthy way to think about our mistakes.

First, realize what your mistake was, assess the lessons, and then make a plan to recover from it. After that, it’s best not to dwell on your finances all the time or make them overly important.

Remember to enjoy your life and focus on the positive as you work towards a solid financial foundation.

How to recover from bad financial decisions

We have all made mistakes, and sometimes, that includes making bad financial decisions. But don’t beat yourself up over it!

Thankfully, there are plenty of strategies and ways to recover from a past financial mistake. Here are some tips to help you make smart money choices!

Step 1: Acknowledge your bad financial decisions and forgive yourself

To get ahead, you have to forgive yourself for your money mistakes.

So take note of the important life lessons you’ve learned and keep moving. Everyone has made some bad management decisions around their money – even the world’s wealthiest people.

It’s all about acknowledging where you went wrong and figuring out what to do to make things right. Even if you make the same or similar mistake again, you can rinse and repeat (acknowledge, learn, and implement the lessons) until you get past your error. That is how you will succeed with your finances.

Once you’ve committed to forgiving yourself and are ready to move forward, it’s important to recognize where you are with your finances right now. Then, you can determine where you would rather be.

Step 2: Decide it’s time to take action towards changing your financial situation

Once you’ve decided to make good financial choices, put a plan in place. And you don’t have to wait for January. You can start today.

Reduce your spending, expenses & debt load, see if you can boost your income, and make saving money for your future self a priority. All these things will put you on the path to creating a solid financial plan.

Be willing to change and be committed to seizing the moment to start working on revamping your finances.

No more waiting for the perfect moment to sort out your finances. Start now. This means if you can only save $5 a week right now, save that $5.

If it means you can only put $10 towards your debt this week, make that $10 payment. Then, start figuring out how to reduce your expenses and earn more so you can ramp up your savings or debt repayment plans and get back on track with your financial goals.

In addition, identify any spending triggers and devise a game plan to avoid them and minimize the slip-ups!

Your money situation will always change, so look at it as a financial journey. As you save more money, pay off debt, and increase your income, it will be much easier to recover from any past bad financial decisions you made.

If you need help, you could also work with reputable financial advisers or tax professionals depending on your needs. A great attorney for legal advice should also be on your list. Be sure to look into the background of your financial professional to ensure they are a good fit for you beforehand.

Step 3: Get motivated and shift your circle of influence

One of the best ways to begin making smarter money choices is to learn from others. So, start reading personal finance and personal development books and blogs.

Listen to podcasts and watch videos. Surround yourself with people who will motivate you to do better and keep going even when you have bad days.

Make it your mission to shift yourself away from your circle of influence if it is of no benefit to your goal of financial success. Remember, bad financial behaviors from others can affect you, so choose your associations wisely.

4. Define your goals and make them easy to accomplish

My next piece of advice is to define your goals for correcting a financial mistake and then make it very simple to stick with it.

For instance, put your goals where you can see them. A calendar or planner works well!

Next, automate savings, bill payments, debt payoff, etc. It’s one of the simplest ways to ensure success.

Last, find other ways to stay motivated. Talk to your accountability partner, read money books, etc. (Hint: Take our completely free Clever Girl Finance courses), and decide that you will succeed!

5. Be okay with failure and remember to keep trying

It’s completely okay to fail sometimes! The silver lining behind it is the important life lessons you will learn. Take the lessons and apply them to your next steps.

Know that no one is perfect and no one gets everything right with their finances every time.

Most of all, do not give up. Continue to work towards improving your money.

What is considered a bad financial decision?

A bad financial decision is one that throws you off course from your goals or negatively impacts your finances. Some common ones are credit card debt, not saving anything, and overspending.

If you have made poor financial decisions, don’t panic. Simply make a plan to fix them and get back on track. It may require time or financial sacrifice, like a stricter budget or a money savings challenge, but the rewards are worth it!

What is the best financial decision?

One of the best financial choices is to save and invest money for your future self. Saving for our future helps us all to be prepared, and investing allows us to make more money over time.

We all need money to help us with expenses, emergencies, and retirement. Saving and investing allow us to prepare for these life changes and be confident in our ability to thrive with money.

Why do people make poor financial choices?

People may make poor financial decisions for various reasons, including emotions, a lack of financial knowledge, or a lack of planning.

For instance, you might go into debt if you have an emergency expense to pay for and no savings. Or perhaps you don’t know how compound interest works, so you neglect investing in your financial plans.

Knowing financial literacy basics and being ready for expenses are both very important. And anyone can learn how to handle finances and make good money choices, given time and the resources to succeed.

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Now that you’ve learned how to recover from a financial mistake check out these posts for more information!

• I Don’t Want To Work Anymore! 14 Ways To Recover From This Feeling
• 12 Signs You Have A Shopping Addiction. What To Do
• How To Avoid Or Recover From A Shopping Binge
• How To Use A Pros And Cons List For Big Financial Decisions

You can recover from bad financial decisions!

It might feel like there is no light at the end of the tunnel, your debts are so large, you are so behind in your career, and/or you cannot recover from your mistakes. But remember, the only way change happens is by taking the first step and then the next step.

You can totally do this.

Take stock of your finances, learn how to budget, and start saving and paying off your debt. Before you know it, you’ll be on your way to getting your financial house in order and making better money management decisions!

The post The 15 Worst Financial Decisions And How To Recover From Them appeared first on Clever Girl Finance.

So many of us enjoy talking and dreaming about our goals, but achieving them is another issue. It’s exciting to think about the possibilities of what can happen when we accomplish new goals, but unfortunately, lots of us give up or don’t even get started. So in this article, I’m sharing 5 ways to achieve your goals: examples included. Remember that although achieving your goals is rarely easy, it’s totally worth it!

How to achieve your goals: 5 Key ways

These 5 ways to achieve your goals can apply to any part of life, including health, career, financial, and personal aspects. And in addition to strategies for financial goals and goal-setting , I’m also going to share some techniques for changing behavior or habits to help you make progress with your goals! Let’s get into it!

1. Set the right goals

The first of the 5 ways to achieve your goals is to focus on proper goal-setting. Too many of us set unreasonable goals, or we don’t have a plan for reaching them. Setting SMART goals is a top strategy for setting goals you can actually accomplish.

Use the SMART Goal method

In 1981, an article in Management Review coined the term S.M.A.R.T. goals. You’ve probably heard of them, and there have been a few variations of what the acronym should stand for. The guidelines are that your goals should be specific, measurable, attainable, relevant, and time-bound.

Here is how to use the SMART goal method to take action to reach your goals:

Make your goals specific

First of all, it helps to set very specific goals. Rather than something vague like “I want to start living a healthy lifestyle,” you need specific goals regarding what aspect of health you’re focusing on.

For example, say what healthy action you’ll take each day, such as riding your bike to work or drinking a certain amount of water.

Make your goals measurable

The “M” in SMART stands for measurable. (Other versions might use “meaningful” or “motivating,” but I prefer “measurable” because that’s been one of the keys for me in reaching my most audacious goals. 

If your goals aren’t measurable, how will you know if you’ve achieved them? You could continue reaching for something more, forgetting to celebrate yourself and your accomplishments. 

One of happiness guru Gretchen Rubin’s “Secrets of adulthood” is “You manage what you measure.” She also calls this the strategy of monitoring. I’ve found this to be quite accurate—if I decide my goal is to write 1,000 words a day, it’s easy to know when I’ve reached that goal. 

A measurable goal comes with clear numbers. Phrases like how much, how many, or how often may be applicable.

Make your goals attainable

Next, when designing your goals, it’s important to keep them attainable. That just means it’s within reach! Remember to be realistic about where you are in life. 

The key is to pick goals that challenge you but not so much as to be impossible. You can always set gradually more advanced goals, such as yearly goals, as you progress.

However, if you focus too much on a goal that feels light-years away, you might give up before you even get started.

My advice would be that it’s great to dream big, but when it comes to setting your goals that you can actively work towards now, try not to shoot too far.

In other words, if you’re a new college graduate, it’s great to dream of being a CEO or starting a business from scratch one day.

But it could take a few years, so you might start smaller, perhaps aiming to get your first promotion within one year.

Professional development goals, health goals, interpersonal goals, and other types can all benefit from focusing on what’s attainable. This isn’t to discourage you from aiming high but to ensure you’re close enough to your current goals to stay motivated.

Make your goals relevant

A fourth step in setting the right goals is to be sure your goals are relevant. They need to speak to you and be important to you.

It can be too easy, especially for women, to compare ourselves to others and center our goals around others’ needs and wants. 

If you don’t have a strong desire to accomplish something, there will come a day when you decide it’s not worth the effort. Giving up is too easy as it is—don’t make it harder by picking things you don’t care about.

For example, when setting financial goals, you have to dig deep and figure out what you truly want. Of course, getting out of debt is good for everyone. But what’s your “why?” What would becoming debt-free do for other parts of your life?

The same goes for achieving early retirement.  Retiring at 40 isn’t necessarily the goal for everyone.

If you pursue early retirement, you need strong motivation. Make that goal relevant by figuring out what you’ll do when you’re retired.

Will you volunteer at a homeless shelter? Travel the globe? Write a book? Clarify your goals to fit your personality.

Make your goals time-bound

A final step in the SMART goals framework is to give a time limit on your goals. Doing this simply offers healthy boundaries so you know how much effort you need to put in and for how long. Getting 30 minutes of cardiovascular activity every day for 30 days may be one example. 

Setting goals on different timelines is useful when making time-bound goals. By setting mid-term goals, for example, you can tackle different levels of accomplishment than with short-term or long-term goals.

It also goes hand in hand with the “attainable” part of SMART goals. Setting goals with different timelines can help you hone in on what’s attainable in certain periods of time. Another way to look at this is by setting benchmarks—smaller steps along the road to your ultimate goal. 

Don’t set too many goals

When utilizing these 5 ways to achieve your goals, remember to limit the number of goals you have! Along with using SMART as a guideline to help you set goals, you’ll improve your chances of success by limiting the number of goals you set.

Have you ever written a to-do list as long as your arm? That kind of pressure can be overwhelming, so it’s good not to set too many goals at once.

If you aim to lose 30 pounds, buy a house to rent out, plan your cousin’s wedding, and write and publish a book all in the same three-month period, guess what? You probably won’t get it all done.

Of course, we all fill many different roles every day. But if you want to know what’s slowing you down, one possibility is overzealous goal setting. You get frustrated and can’t focus enough to accomplish those goals. 

Like Dave Ramsey’s Baby Steps can break down financial goals, you can increase your odds of success by focusing on one or two big goals at a time.

Limiting how many objectives you focus on at a time can make it easier for you.

Focus on process goals instead of product goals

You can set the right goals by focusing more on “process” than “product.”

In other words, many of us might say, “I want to raise kids who become honest, hard-working adults.” That’s great—but it’s a product.

Could you break that down into “process” mini goals? Perhaps focus on their age now and the daily steps you could take to help them become the amazing adults you know they can be one day.

Process goals emphasize what you’re in control of right now. You can control your actions, but you can’t always control how your circumstances go. (For example, Don’t say you’ll lose 20 pounds. Instead, you can decide how much to exercise or set dietary preferences.) 

2. Keep track of your progress

Recording and tracking the progress we make toward our goals helps us get closer to achieving them. Often, we do better with things we write down, which is why it’s one of the top 5 ideas for achieving goals!

Write down your goals

Whether you write them in your private journal or on a sticky note you place above your desk, the act of writing down goals is useful. Writing them forces you to clarify your goals, and you can revisit them regularly to see how you’re doing.

When writing these goals, be sure to write them out in full. If possible, include all of the aspects of SMART goals.

State goals publicly

Many of us benefit from sharing our goals in public. It gives you some outer accountability. Even if the people you share it with won’t care, the very act of stating the goal to someone else can make it more real to you.

You could tell a group of friends about your fitness goals or discuss your financial goals with a family member.

Find an accountability partner

You might move closer to goals with an accountability partner. Maybe you pick one friend, and you text her every day to tell her your step count for the day. (Make sure she knows what your goal is!)

Share your goals on social media to achieve them more easily

Another strategy for achieving goals is to post them on your social media. You know you’ll get responses from friends or followers that might be encouraging. You don’t have to talk daily about these goals on Instagram, but posting your progress weekly or monthly could be helpful.

Monitor your progress

Monitoring your progress is essential when you’re setting goals. After all, if you don’t track what you’ve done, how will you know when you’ve achieved your goal?

This step is what we discussed earlier in the “measurable” part of SMART goal-setting.

Choose a method to monitor your progress and keep track of your efforts and the benchmarks as you pass them.

Monitoring your progress is important, whether saving for a family vacation, tracking spending through a budget, or keeping a list of all the money mindset books you read each year.

3. Stay focused on the goals you’ve set

Staying focused is next on our list of 5 ways to achieve your goals. A singular focus is important for any important goal or dream. Don’t let distractions or discouragement drive you away from achieving what you want to do. 

Keep learning through educational resources

Books, podcasts, newsletters, and other resources can help you stay focused. Anything that helps you learn more could propel you to persevere and achieve your goals.

If you really want to learn a musical instrument, you need to take lessons, practice, and think about that instrument—a lot. That education can help you maintain focus.

Make visual reminders as a way to achieve your goals

Having a goal means having a vision, right? You need to envision a different life, whether in terms of family, career, health, or something else. You might even want to try out vision board ideas.

Put visual reminders of your most important goals everywhere. You can stay motivated and focused when you see notes, artwork, or photographs that remind you of your goals.

Ask for help

Sometimes, we need others to remind us what we’re working for. Talk to your spouse about picking up extra slack with the kids, or ask a friend to remind you of your career goals when you get discouraged. 

For me, the goal of writing and publishing a novel meant I needed to find a critique group. Now, I trust the three fellow writers in my group to give me the feedback and encouragement I need. 

Talk to business mentors

When working towards a big career goal, a professional mentor can have a great impact. Talk to your business mentors when you start to veer off course. Ask them what strategies helped them reach the goals you’re hoping to achieve.

4. Create an environment for success

Environment plays a huge role in our success in building habits and achieving goals. Build your environment for success!

Make it easier to do tasks you want to do

James Clear, the author of the best-seller Atomic Habits, writes a lot about making your environment support your habits. Make it easier to change habits—there’s no prize for struggling. An example he gives is if you want to practice a musical instrument, place it in the middle of the living room.

For example, to save more money, automate your finances. Automation is awesome. It takes the decision out of your hands, so you only make that saving decision once, and it remains your daily routine until you cancel it.

Both of these examples make it easier for you to do something positive for yourself.

Make it harder to do things you want to avoid

The reverse is true: you can improve habits by making bad habits harder. Make them inconvenient or difficult, and you won’t do them as much. It can help you stay on the path to achieving your goals.

For instance, to save money, you can switch to an all-cash envelope system for a few months, and leave your credit cards at home. Not having credit cards with you makes spending inconvenient.

5. Plan for obstacles and failure

That’s right, I said you should plan for failure! We’re human, so we should expect some level of failure or major obstacles along the way. Here is how to use failure as a step to success so you won’t give up on yourself.

Decide how you’ll deal with setbacks

It’s almost guaranteed that your journey won’t be smooth sailing all the way.

Whether you’re hoping to achieve millionaire status, launch a business, find the best way to get out of debt, or any other goal, planning ahead for setbacks can help you succeed.

You can decide in advance what your response will be in certain situations.

For instance, if your goal is to make $500 fast and save it in a month, but you come up $200 short, don’t throw in the towel. Look at your budget and your earnings and make a game plan for how to save more next month. (Or, adjust the goal if necessary—there’s zero shame in that.)

What you don’t want to do is quit on yourself after your first setback. Mistakes and failures are part of life. 

Learn from failure

It is one of the hardest things to learn and one of the most valuable: failure is a great teacher. We all need to learn how to fail and deal with potential obstacles.

Failure is actually an important part of how you can become great. Thomas Edison famously said of his numerous attempts at inventions, “I have not failed. I’ve just found 10,000 ways that won’t work.”

By reframing the way you think about failure, you can start to see it as a tool you need to succeed. It’s a great way to achieve your goals, no matter how difficult they seem.

Expert tip: Don’t get discouraged

Goal-setting can be just as overwhelming as it is fun but you can break down your goals to be manageable. This means that whatever your goals are, you need to take the right path and one that works for you, to reach them. Get your life organized and focused so that you know the tasks to do to make step-by-step progress. 

Remember that the most worthwhile goals will likely include some frustration, but that doesn’t mean the end! You have to push through setbacks and trust the process, and you can achieve more than you think. 

Examples of ways to achieve your goals

As you consider some of the ways to implement your goals, take a look at these examples of 5 ways to achieve your goals from different areas of life. 

Lift weights three times a week for six months

Here’s an example of a fitness goal. It’s clear, measurable, and even time-bound. It focuses on your actions rather than an outcome you can’t control. 

Eat 9 fruit and vegetable servings daily

Another specific and measurable goal would be to eat nine fruits and vegetable servings every day. You can get more nitty-gritty if you like, but that’s a good general guideline to aim for if you don’t have enough produce in your diet. 

Send pitches to one potential client each weekday

If you’re building a business and need to find new clients, here’s a great goal for you. Decide to send a pitch to one new potential client every weekday (for a month or even indefinitely). It gets you in a habit that pushes you to grow your side hustle or full-time business.

Save $10,000 in one year

A financial goal like this one can help you reach other financial goals, like being able to buy a newer car. Figuring out how to save $10,000 in a year is something measurable and time-bound. Make it easier with an accountability buddy to stop you from making an impulse purchase when necessary.

Take your kids to the park twice a week 

Let’s shift gears to look at a family-oriented goal. If you have kids, might set the goal of taking your kids to a local playground twice a week. Again, it’s specific and reasonable (but if that’s not a reasonable goal, pick something that works for you). 

Work on your new side business for three hours weekly

If you’ve dreamed of starting your own business but can’t find the time, determine if there are a few hours when you could work on it. Don’t expect to make five figures immediately, but you can make real progress even with just three hours a week dedicated to your business. 

Read for 20 minutes a day

Here’s another goal that you might set to help you learn or relax. Making your goal attainable (20 minutes isn’t a huge amount of time) helps strengthen your commitment. Plus, you aren’t saying how many pages or books you’ll read because that can lead to frustration if you choose a difficult book. 

Spend a summer in Europe in five years

Maybe you’re like me and dream of spending long periods of time in Europe. I might put photos of the country I want to live in all over my home, computer, car, and phone. Making a vision board is a fun way to stay motivated as well. 

Pay off all credit card debt within two years

Many of us struggle with paying off credit card debt. Looking at what you owe and choosing a reasonable time period for paying it off can help you reach that milestone. 

Practice morning affirmations

Perhaps you’re dealing with a lack of self-confidence, and you’d like to improve that. A great way to improve self-talk is to try morning affirmations that remind you to believe in your abilities. 

What is stopping you from achieving your goals?

To determine what’s stopping you, start by thinking about the challenges you face every day. You might have trouble because of the following:

• People who doubt your potential
• Not enough hours in the day
• Low self-confidence (try these confidence building exercises!)
• Uncertainty on how to achieve your goals
• Financial limitations (read about breaking the cycle of poverty)

Millions of articles and thousands of self help books exist that can teach you the best ways to find success. You’ve likely heard a few of them, but if you’re serious about making progress for real, then try setting SMART goals and staying focused.

What is the first step towards achieving a goal?

Before you can achieve a goal, you need to identify your goal.

Personally, I know I won’t be able to figure out any of the next steps without first knowing what I want to achieve. And that opportunity to work towards a goal needs strong motivation. 

Thinking carefully about what you want to accomplish will help you determine the best ways. You don’t just miraculously save a huge down payment for a house without preparation. You need to identify that goal and then take steps to reach it.

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If you found these step-by-step instructions for winning with your goals helpful, check out these other posts!

• How To Set Goals For A Small Business In Order To Grow
• 6 Reasons Why Failure Is The First Step To Success
• New Month New Goals: Ideas For Goals To Set Each Month
• How To Be Smart About Money: 5 Ways

Leverage these tips and examples of how to achieve your goals!

The great thing about goals is that they can always keep evolving as you do. After all, we never really stop learning, so why wouldn’t our goals change along the way? Implement just a few ways to achieve your goals, and you’ll be unstoppable.

So, what are you waiting for? Take charge of what you really want, set yourself up for success, and start progressing toward your goals today!

The post 5 Ways to Achieve Your Goals With Examples To Motivate You appeared first on Clever Girl Finance.