Latest Buzz

Effective Methods to Get The Best Credit Rating

Forum: Credit
Adam Mhrez
According to current research, 68+ million people suffer from Bad credit in the United States. If you also one of them, then these may help you to get a good credit rating. 1. Pay Bills on time. Always 2. Improve your credit usage proportion 3. Consistently screen your financial assessments for mistakes 4. Be careful with debts and closing accounts 5. Consider your credit blendRead More...
These are some ways I boosted my credit cast after bankruptcy. I got a revolving credit card from Beall during a promotion for $150. I'm a coupon shopper and the deal was free ten dollars and thirty percent off first purchase. I acquired things on clearance I could resell. I paid the minimum as soon as I got the bill and paid the minimum on the assigned statement day. Paying a payment immediately was impressive. I had already sold my purchases for … more than. In a couple of months I now...Read More...
Don't forget that this way you reduce your credit score...I learned to live within my means and pay my bills, and took advantage of the convenience of credit cards, on which I never carry a balance. My advice contact to https://www.boostcredit101.com/ I might have exaggerated a little here and there about my income, when applying for credit cards (they never check), which raised my spending limit, which I think positively impacts credit score by giving me a low usage ratio..Read More...
Last Reply By Reverend Gale Daniel · First Unread Post

Hi

Forum: Budgeting
Please what's a budget looks like?Read More...
Hi all. I meant a sample pleaseRead More...
Are you asking about form or different budgeting methods? Here's a link about a few kinds of budgets. https://www.thepennyhoarder.co...g/budgeting-methods/ And attached are a copy of some simple spending tracking and budgeting forms I use at work. If that doesn't answer your question, let me know!Read More...
Last Reply By Jean Fritz · First Unread Post

Dumpster

Forum: Make Money
lori wulff
I started 2 years ago checking dumpsters of retail stores, drug stores, and dollar stores. I got started by one day i stoped at CVS and before i left i went to throw out some stuff i had in the car. OMG! This is when i saw bottles unopened of shampoo, conditioning, cosmetics etc.. I was shocked to see all this perfectly good stuff in the trash. So, I started checking it on a regular basis and I still do to this day. I sell what i can, donate some to the homeless. I have made up to $200 a day...Read More...
I would like to know the names of some stores that do this? This post is too vague..Read More...
City and county laws differ in some areas. Just check them to be sure.Read More...
Last Reply By Leslie Kay · First Unread Post

Selling stamp collection

Forum: Make Money
Luis Iza
what is the best place to sell your stamp collection online?Read More...
I have these stamps. How much are you asking for them?Read More...
Before selling, I'd suggest having your collection appraised by a professional if you are in a large enough town/city to have one available. Local stamp clubs can help you.Read More...
Last Reply By Marcus Stanley · First Unread Post

Saving Money on a very fixed income

Forum: Save Money
Linda Woodcock
Hi Everyone: I just joined this community. I am in need of putting some money away for mostly medical copays and other expenses. I am on disability and work a part time job that I enjoy but the pay is not enough to meet my monthly bills or copays. I am 63 and full of life and I also would like to enjoy my life by going on a small mini vacation sometime, but I am not able to. What are some tips that you can share with me on how to save... I already am in my pt jobs 401K however my income is...Read More...
Hi Linda- Are you receiving all the services you are able to based on your disability? I would take a good look at that first- sign up or get on wait lists for housing assistance, fuel/heat assistance if you live somewhere you need that, medical assistance, food, etc etc. Review your budget and see where your money is going and what can be cut out and what should be prioritized. Also consider opening a no-fee savings and put $5 in it with every paycheck. When you do this for awhile, you can...Read More...
There are many online hustles that can generate a little money if you do the follow thru. google mystery shopping, paid surveys or follow the class action lawsuits. I just got a $95 check from Hearst magazines because they kept rebilling me without notice! who knew?Read More...
Last Reply By KellyFromKeene · First Unread Post

Leasing without an agreement written

my friend wants month to month & I think it’s ok I need to know if this is safe?Read More...
sidenote...I will not rent to friends and family. It always turns out badly and you don't get paid plus you are always the bad guy.Read More...
I rent month to month and accept payments weekly or biweekly. I usually do not write up leases. I rely on the state laws which govern over a written lease anyways but I just did a month to month situation because an agency is paying her rent. In Michigan, everything is 30-day notice anyways. I am also a licensed real estate agent in Michigan, as well.Read More...
Last Reply By Leslie Kay · First Unread Post

Save early save often

Forum: Retirement
Dan Olsen
Anyone looking to retire early (especially millennials) always take advantage of your 401k if available or have automatic deductions to a Roth IRA. Even if just $25 a week or month it adds up and you can retire in your fifties. As pay increases, up your contributions. I'm 56, worked a good blue collar job and just hit the $2m mark. Einstein said the 8th wonder of the world was compounding interest. Take advantage!Read More...
Good luck and sounds like you had good teachers. Best other lesson is don't panic when markets are down. Look at it as an opportunity to by quality stocks at a discount.Read More...
Congrats @Dan Olsen ! One of the biggest lessons my parents always told me was to take advantage of a 401K!Read More...
Last Reply By Dan Olsen · First Unread Post

Mystery Shopping, Paid weekly!

Forum: Make Money
Valerie Magorrian
Service Scouts is a mystery shopping company that pays weekly. There are plenty of opportunities and various cities across the nation. There are phone shops you can do without leaving home or from any city. There are many sporting events such as NFL, NBA, MLB. MLH and more. There are concerts, plays, musicals, dinners, etc. Each game event provides you with two tickets (pick them up at will call by showing your ID) plus money for concessions and reimburses parking as well. You evaluate 8...Read More...
@sthom Coyle was actually one of the ones I signed up for the other day. Thanks for suggesting it though. A lot of the companies I signed up for don't have a lot of shops in my current area, but doing a little bit of research, there are plenty in different areas so I should be able to stay pretty busy and earn some extra money/free meals while on the road!Read More...
Interesting information. I never thought of looking into mystery shopping but if it is legitimate, why not? Especially if you are doing it for yourself, why not get paid for it?--Good luck with your quest!Read More...
Last Reply By Moore Income · First Unread Post

Selling sports cards

Omar J Torres
Does anyone know where I can sell my sports card collection? Cards from the 60s to the 90s.Read More...
eBay would probably be my first suggestion. I am sure there are probably websites dedicated to selling cards but eBay would probably give you the most protection as a seller.Read More...
Wow, thanks for this Adam. I will look into this. Now I have somewhere to start.Read More...
Last Reply By Moore Income · First Unread Post

The Fed just cut rates!

Theodora
Anyone planning on changing their savings or borrowing strategies based on the change?Read More...
I just saw that! It's a bit disappointing! I just signed up for a mobile app because they were paying 2.25% interest. I just received an email informing me they are dropping it to 2% and I haven't even put any money in there yet. I probably won't be using their service as I already have other ones that are paying me 2%.Read More...
Last Reply By Moore Income · First Unread Post
In a financial class I attended recently, the teacher said "The easiest way to become a millionaire is simply to NOT spend a million dollars" The truth is, most of us will make more than a million dollars in our lifetime, so if we would just not spend so much, we could be in a better financial position automatically. Now I understand that life has expenses, but if you really take the time to look closer at your spending, you will be sure to find areas in need of improvement. Not spending...Read More...
@Annette V. It is true, when your finances are varied it can make it difficult at times. The goal here I would say would be to look more closely at some of the unnecessary expenditures and try and eliminate those as much as possible. It is definitely easy to fail at this but the important thing is to put in the effort and when you do fail, just make sure to get back on track as quickly as possible.Read More...
@TheHannaLee and @Annette V. are you a part of our newsletter yet? If not, we actually just released a budgeting bootcamp that will teach you how to start a budget, different methods to try and more! We even created a special community group here where you can talk to others who are also going through the bootcamp. You can sign up for it here: https://www.thepennyhoarder.co...itybudgetingbootcampRead More...
Last Reply By Moore Income · First Unread Post

401k Loan

I was speaking with one of my co-workers and they were telling me that you could withdraw money from your 401k account in order to place a down payment for a home. They said that if it is used for a down payment for a home then it isn't taxed and doesn't have to be repaid. I haven't been able to find any information that proves this is true, have any of you heard of this practice before?Read More...
Yes you can if you are a qualified first time home buyer. The limit is up to 10K and if you are under 59 1/2 years old you will pay the Federal Tax penalty 10% tax on that money if you use your 401K and probably state taxes as well where applicable (check your state tax rules). However, if you take it from your IRA, you will not be penalized for the 10%, if you are qualified first time home buyer. For more details, see https://www.irs.gov/retirement...-early-distributions . The key is for...Read More...
I have heard of this when it comes to Whole Life Insurance before but not when related to a 401K. I can see how this would be helpful for some and not such a great idea for others.Read More...
Last Reply By Annette V. · First Unread Post

Residual Income

Forum: Make Money
Leta Muncie
Finding opportunities to create residual income can help build retirement, college, travel funds. I have found residual income but what are some other residual income businesses people are using. I like to hear what others are doing. I love what I do. I like to hear other success stories.Read More...
Thank you so much for supplying the info. Very helpful! Have a great day! Sincerely, CindytRead More...
@Leta Muncie and @Cindyt I am with Xstream Travel but I highly recommend KHM Travel. They have a smaller fee to get started and the monthly website maintenance is $45. Being a travel agent has saved us money on trips. Commissions are slow on some vendors but when you get it, awesome. Group travel is where you will find the best commissions.Read More...
Last Reply By Cindyt · First Unread Post

HSA

Mexpensive
I just read the e-mail from Pennyhoarder and I am wondering why oh why can that why can't we just open an HSA ourselves? Why do they make it that you have to go through an employer? Why doesn't the government make it easier for us to pay for our healthcare. Healthcare is so expensive between paying for your insurance ,your co-pays . Plus you can't be on Medicare? What's the deal here? you would think that we could just open an account through your bank or credit union and that would be it.Read More...
I Thanks for replying, I was wondering if someone who doesn't work could open one. I am going to check with my Credit Union . I was also wondering if the employer has to offer it. You would think that more people would know about this. The triple-tax benefit of having an HSA is that contributions are tax-deductable health savings account ( HSA ) is a tax-advantaged medical savings account available to taxpayers in the United States who are enrolled in a high-deductible health plan (HDHP).Read More...
I just did a little research into this and I believe it is possible to open an HSA separate from an employer. Fidelity Investments offers one that you can deposit in directly from your bank account and it still offers you certain tax benefits. I'm not an expert on this topic, but it looks to be a possibility.Read More...
Last Reply By Mexpensive · First Unread Post

Social shares can earn you BIG community points!

Briana
If you share your favorite community thread on social media and tag us (while using the hashtag #lessmoneystress) we're giving you 100 points to add to your community score! Hint: Your community score reflects how active you are in the community and earns you cool things like - Member of the Month, MVP opportunities, etc. If you read our weekly community announcement yesterday, you may be familiar with a fun social sharing contest we just announced. For those who have no idea what I'm...Read More...
Is this still the case? Just wondering because if it is, this would be helpful for some of the newer members to see who would like a chance at making member of the month!Read More...
Thank you for clarifying!Read More...
Last Reply By Moore Income · First Unread Post

Help us spread the word!

Briana
Since the beginning of the launch of The Penny Hoarder community, you all have shared 4,574 comments on members questions and stories! That's almost 5,000 inspiring tips, shared experiences and words of advice! Now we're asking that you continue to expand our community by inviting someone you know will enjoy this community as much as you do. Who do you know who may have a money question they need answered OR who may have a great experience or piece of advice to share with other members? Use...Read More...
Just shared the link with my personal facebook friends. Hoping to see some of my money-conscious friends on here!Read More...
Me too! Hopefully with more amazing members that you all can help recommend =)Read More...
Last Reply By Moore Income · First Unread Post

The Power of Saving Money || Where to save

Forum: Save Money
Antonio Bonton
Hello Penny Hoarders, I've been reading on the different types of savings account available and wanted to take a moment to say what I personally think is the best option because there is so much information out there! I believe that the best vehicle for saving money is an Online (high yield) Savings Account. These accounts offer anything at/above 2%. Personally, I use Marcus by Goldman Sachs which offers 2.15% but Wealth front also has a very good savings account which offers 2.5% The best...Read More...
I agree, 2% is honestly barely (at best) pacing inflation! But I think it is okay when you are using it for an emergency fund or a purchase within the next year or 2 because you could risk losing it in the stock market (short term) or getting basically nothing in a checking account. I use saving to have a nest egg for emergencies and short term purchases (house and car down payment) the rest of my savings money goes into the stock market where I can get a return closer to 10%!Read More...
It is good to see banks finally starting to raise the interest rates, but even 2% is okay at best. At the rate of inflation, most of that interest is lost by the next year due to inflation. That being said, for saving money short term, it is still better to get 2% for it rather than getting a fraction of that which most bank accounts offer. Some other banks that pay higher than most are Aspiration and Haven Money. For long term savings, I prefer to put it into a Real Estate Trust (I use Rich...Read More...
Last Reply By Antonio Bonton · First Unread Post

Knowledge Is Important When Buying A Home

AHMED.HAMDY
When you are spending hundreds of thousands of dollars for a home, you need to make sure that what you are getting is well worth it. No home is absolutely perfect. You can always expect to have to spend something on your new home. The average is $6,000 within the first six months, according to industry experts. In a time when you should be looking at paint samples and new furniture, why would you want to spend your time on repairing what you just bought? A professional home inspection is key...Read More...
ahmed.hamdy, you've shared excellent advice. In my area of Central Florida, home inspections run a few hundred dollars and can save thousands for buyers when purchasing any home. While it's often considered very unnecessary for a newly constructed home, I've run into situations where they've paid for themselves with brand new construction, tho less frequently than a resale home. I've also advised sellers to hire a certified home inspector when marketing their home for sale. It gives them an...Read More...
The home buying process is no joke! I have not personally purchased a home but I have explored the option a couple of times and I always feel lost with all the things it entails. It is definitely not a decision to rush into and learning as much as you can before purchasing is a must!Read More...
Last Reply By mintjulep · First Unread Post

Podcasts, anyone?

Forum: Book Club
Theodora
Hey, Penny Hoarders! Would love your recos on favorite personal finance podcasts. Fire away..I'm all ears.Read More...
I just watched the Netflix documentary about the Minimalists. It's such a lifechanging idea. I have a post asking people for more information about Minimizing. Would you have any information to offer?Read More...
Hi Theodora, My recommendation is more along the lines of developing a lifestyle that saves you money! The Minimalists is a wonderful podcast that helps you reshape your views on stuff and why we feel the need to buy it. The two hosts are funny and engaging. Let me know what you think about it!Read More...
Last Reply By TheHannaLee · First Unread Post

Pls help

Forum: Make Money
Crissy Fultz
can I pls have some suggestions on how to make money from home online . I’m on disability and I barely survive with the amount I’m payed each month. I’m desperate for help and will be forever grateful for any advice or suggestionsRead More...
Hey @Crissy Fultz , I just wrote an article about working while on disability . Everyone's situation is unique, but what I would recommend is reaching out to an employment network and talking to certified SSA counselors to work on a plan. There are different work rules depending if you're on SSI or SSDI, but the Ticket to Work program applies to both types of benefits. Under that program, you can work without losing your benefits. For the article, I also spoke with an employment network...Read More...
If you stuck at home, writing can be a great way as mentioned above. There are lots of different types of writing jobs. Another free writing resource for finding writing jobs is Freedom With Writing If you have access to a vehicle or can get around town, I have been trying out Mystery Shopping recently and have found, not only is it a great way to earn a little extra money but also a great way to get free food when doing restaurant shops!Read More...
Last Reply By Adam · First Unread Post

Recommended Book on Passive Income

Forum: Book Club
Hi all, I just discovered an excellent book about passive income by Gundi Gabrielle. I was skeptical of all the five-star reviews and while the one-star reviews do have some merit, they're the minority. The book takes you through the nuts and bolts of setting up a passive income stream, some of which require no capital and little energy, and some of which require a lot of capital and a lot of start-up energy. The book is cheap and worth a look, and can be bought as part of a series. I...Read More...
Passive Income Freedom by Gundi Gabrielle.Read More...
Sounds like a good book to have. Anythings that shares ideas to help you generate extra income is a good resource. What is the name of the book @BeckAtsila ?Read More...
Last Reply By BeckAtsila · First Unread Post

Credit card debt

Forum: Debt
I am looking for a way to have a lower interest rate on my credit card and my credit company won’t lower it due to it being a starter credit card. Any suggestions?Read More...
How is your credit? If you have decent credit you can always try opening a new card that allows for balance transfers. Many of them will have a promotional balance transfer period too saving you more on interest.Read More...
Last Reply By Moore Income · First Unread Post

Tip on chicken

Hi all, I am taking cooking classes online--long story short, I've got a year's access to the classes (one new class a week, and this week was Midwestern comfort food) and all the archives for $10. The New York-style bagel recipe alone made it worth it. They just sent me a recipe for chicken eggrolls, and I thought I would share a tip from my job--I work at an upscale Asian restaurant. If you like chicken, you're probably familiar with leg, breast, and wing, all of which vary in price. But...Read More...
Shannon H, Here's one of my favorite recipes calling for shredded chicken--hot and sour soup! 4 cups chicken or vegetable broth 3 Tablespoons soy sauce 1/4 cup cooked chicken, shredded 1/2 cup mushrooms (the cookbook recommends shiitake or cremini), diced 1 Tablespoon garlic chili sauce (I prefer to use sambal oolek) 1/4 cup white vinegar 1/4 teaspoon ground pepper 1/3 cup canned bamboo shoots, julienned 3-ounce block of firm tofu, cut into half-inch strips 1 Tablespoon cornstarch mixed with...Read More...
First time with chicken thighs... went to Aldi this morning and got 4 packages of boneless chicken thighs each was a little over $5 with $3 off! I cut off excess fat off and put 2 packages in my pressure cooker.... Fell apart when I tried to take out of cooker which was great. I put 3 freezer quart bags into freezer which will each make a meal for us plus set aside in fridge 2 more meals - 1 chicken with broth for chicken n dumplins and 1 chicken to add bbq sauce to for bbq chicken...Read More...
Last Reply By BeckAtsila · First Unread Post

Make Money Asking Questions On Quora

Forum: Make Money
Moore Income
Did you know that you can make money on Quora? I had no idea until a while back when I got invited to the Quora Partner Program which pays you to ask questions by sharing the ad revenue generated from those questions. If you don't know what Quora is, it is basically a social media site where people ask questions and other people answer them. The Partner Program is by invite only and nobody really knows what makes Quora choose to invite you but if you have an account already, you may want to...Read More...
Wow! Had no idea.Read More...
@MAJORHIGH If you have access to the Partner Program I would definitely recommend asking questions. Like you, I don't get a ton of viewership on my answers but I have some questions that have earned me over $20 and most earn at least a couple bucks.Read More...
Last Reply By sthom · First Unread Post

Social security opt out

Forum: Retirement
My recent employer is one of the few who have opting out of social security as an option. I have the opportunity to make a one-time election to drop FICA and deposit my money into a private retirement account. I'm 41 and have more than 40 quarters in the regular system. We currently save over 15% of our income for retirement, but unfortunately, we started late. The employer will also pay for a long-term disability policy to cover the fact that I'll be losing my disability benefit. I'm having...Read More...
Dear Take Action, I would spend a little money now to check into this with an independent professional that knows Social Security inside and out. You have invested 10 years into the system. I think maybe you should look for ways to keep it. IF (heaven forbid) something happened to your company you might lose out, depending on what happened. Remember that the more solid a company is financially the more they are targeted, and with the Internet as an added danger, you really should not have...Read More...
Last Reply By Karena Andrusyshyn · First Unread Post
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