If you love your job, there's no need to leave! But, keep in mind that average job switchers earn 20% more than their current salary, and the average annual raise is only 2% (if anything). Switching jobs every few years can make a huge difference in your long-term salary acceleration.
Learn more about career growth, promotions, and pivots.
The average bank account will earn you .1% interest each year. The average high-yield savings account (HYSA)? 5% interest! Don't miss out on the easiest passive income on this list.
Learn moreabout HYSAs and CDs.
Have you had the same credit card for the last few years? It might be time to apply for a new one and take advantage of the bonus points that come with your new card! Free flight to Hawaii anyone?
- Credit card rewards programs are always changing. Google 'best credit card rewards 2024' and you'll find a page with updated stats!
- Make a list of the places you shop the most, and check if any of them offer rewards or discount programs that you aren't taking advantage of.
There are THOUSANDS of ways to make passive money online (I have a list of 50 different ways on the blog here). I have personally created a variety of digital products and online courses that make me passive income.
Curious to learn more? Start learning how you can make passive income online.
What's your current hourly rate? Have you thought about what you could charge hourly for your services, or thought about creating a package of your services for a set price? It's never been easier to sell your services a la carte on websites like Fiverr and Upwork.
Learn how to set up a Fiverr account and start making fast, flexible income on your own terms!
Real estate investing has the unique advantage of 1) Making you passive income through rent payments, 2) Building you equity while a renter pays down your mortgage, 3) Growing in value over time, and 4) Depreciation of the home value over 27 years. It can also come with added expenses (home maintenance, taxes, insurance).
I highly recommend this book list if you want to learn more about real estate investing!
This is another super simple way to keep more money in your pocket! Check out:
- camelcamelcamel: an Amazon price checker site.
- Rakuten: Sign up and add the extension to your internet browser. It will show you coupons when shopping & pay you cash back for purchases.
- Ibotta: Get the app to get coupons on your favorite items plus cash back on your purchases!
Planning for retirement can be a major source of stress.How to reduce that stress?
- Calculate how much you need so you can KNOW if you're on track.
- Ifyou're worried about not contributing enough, that's ok! Let's talk more about how you can make more money and reach your contribution goals.
A good rule of thumb: Work towards setting aside 6 months of your living expenses in an interest-bearing savings account for emergencies. If that seems like a lot, remember thatevery dollar matters! Set aside whatever you can and works towards a goal that makes sense for you.
Learn more about how to save money and reach your emergency fund goals.
Quick tip: Take 30 minutes this next weekend to log into your insurance portals (car, home, renters) and see if you're overpaying for any insurance options.
Unique insurance options: Run a quick cost calculation to see if a monthly insurance payment is more or less than your current bills (example: vet bills are traditionally $100 per month, and insurance options start at $45). More on this topic here.
Health Savings Account: One of the best kept secrets! It offers a tax-advantaged way to save for medical expenses. Learn all about the benefits here.
If there is ONE thing you do after taking this quiz, I hope it's this: Track your income and expenses monthly! Knowing your cashflow (aka money coming in and going out) is the FOUNDATION of wealth building.
Looking for a budgeting spreadsheet that makes budgeting fun? Check this one out.
Deciding whether to pursue graduate school for career advancement is a significant crossroads. As a former college academic advisor, I can tell you with transparency that there are times when paying for additional schooling is a GREAT idea - and there are times when it won't necessarily pay off. In the end, it depends what you hope to get out of your advanced degree and whether your future pay rate will more than cover the cost of more school!
I break down the pros and cons in more detailin this blog post.
Having a positive mindset towards money is HARD, and definitely not common.But, it's worth pursuing! Simply believing that you arecapableof making more money can be lifechanging, and will influence the actions you take for the rest of your life.
If you want to think differently about money, try reading one of these amazing books (all $10 or under):
