Making Money

Consignment Shops Near Me Weren’t the Best for Money – This Is What I’ve Tried

October 12, 2018 By Christina Majaski Leave a Comment

Consignment shops are notoriously at the top of lists of ways to earn extra money, declutter, and move toward minimal lifestyles. However, for me, that meant lugging a bag or tote full of 10-year old suits and shoes from my office days to consignment shops near me. And then, they usually didn’t even end up buying any of pre-loved belongings. (In which case, I’d end up either lugging it all back home or dropping it off at a nearby goodwill and earning exactly $0 for my time and energy.)

It was such a hassle, that I decided if I go through the trouble of transporting boxes of stuff somewhere, it’s going to be for donations only. Still, I had a lot of stuff I knew I could earn some extra cash with, so I looked into online consignment options.

What I learned is that you don’t have to search for consignment shops nearby to get rid of all of your stuff and earn some extra cash. In fact, you usually don’t even have to leave the comfort of your living room.

Consignment Shops Near Me Weren’t Always the Best Deal

So, let’s say you don’t mind packing up and toting all of your stuff to the local consignment shop. In my mind, the work was worth it if I squeezed out a few dollars.

Unfortunately, nearby consignment shops might be a good way to get rid of your stuff and make a couple of dollars, but you probably won’t get as much as you could if you sold your stuff online. Most sites allow you to post pictures of your items, at the price you want, and buyers can either purchase or send you an offer. For this reason, it allows you a better chance of getting the most money for your items.

Further, you usually have the best chances of getting rid of high-dollar, designer stuff at physical consignment shops. Most won’t touch non name brand items. And, in some cases, your only option, is donation or selling for pennies at garage sales, even if they are brand new. On my best days at a physical consignment shop, only a couple of items were returned. However, I still only earned about $10 for everything else. This was definitely not a good use of my time and energy. (Especially considering I drove 30+ miles one way to get there.)

Also, you can’t forget about reachability – your audience and potential buyers. Most consignment shops are limited to the customers who happen to enter the store. Online, you can reach buyers all over the globe.

A Better Option: How to Use Online Consignment Shops

I found selling online much easier, more valuable, and a lot less hassle than dealing with the consignment shops near me. While it might vary, the process of selling clothes and other items online are usually similar. For the most part, you’ll need to take a picture of your item and upload to the appropriate site.

You’ll also need to put together a detailed description, including sizes, measurements, colors, and brand. If you aren’t sure of measurements or sizes, you might have to research online to find them or actually measure yourself. Believe me, people will ask you and you’ll need to be able to provide that information if you want to make the sale.

Once your listing is up, you’ll also have options to share with your communities online. Whether you do this or not, is your choice. Most online consignment shops have their own communities and buyers who will likely shop with you anyway.

After you’ve posted your items for sale, you just need to wait for offers. Sometimes, they won’t happen right away, especially if you’re new to the community.

Tips for Successfully Selling Used Stuff Online

So, I’ve tried being lazy and snapping a quick pic and crossing my fingers. However, when it comes to selling online, pictures matter … a lot. Make sure you’re taking the best photo you can. You don’t need any fancy camera equipment. However, you’ll have a better chance of selling your items if you take a picture with a clean background (move the dirty laundry) and good lighting. In fact, some of the apps have filters you can use to make your pictures look better. Just make sure the filter or image isn’t deceiving and changing the quality of the actual item.

Also, when writing your descriptions, try to keep keywords in mind. Many people search for certain items, and you’ll want yours to come up when they do. This also means you need to be extra careful with spelling and typos. If you have a typo in your description, those searching for it might never find it. To get the best descriptions, look for the product online and see what the retailer has listed and write yours up accordingly.

Get Creative

Think outside of the box. For instance, do you have a bunch of no-brand kids clothing? Bundle those together and sell as a package rather than making separate dollar listings. Kids grow out of things so quickly that moms and dads are always looking for bundles of cheap onesies, tee shirts, and pants. Also, make sure you have your stuff ready according to the season. Is it almost winter? Clean up and post all of those winter coats and boots you aren’t using, at least by fall.

Things You Will Need To Sell Online

Luckily, I didn’t need much to get started selling online. I already had a ton of stuff I needed to get rid of.

Although not imperative, using a mobile phone makes selling online super convenient. It’s a good idea to have the app or at least access to your products on your phone. You will want to be able to reply to buyers and accept offers right away. If you wait until you log into your laptop in the evening, you might miss opportunities to make some cash for your used items.

You will also need some supplies – although it shouldn’t require anything complicated. For instance, many times you’ll need access to a printer so you can print out the mailing form (many of which are prepaid). You may also need large mailing envelopes or small boxes. It’s a good idea to keep a couple of them around, so you’re ready when you need to ship something out.

Selling Your Items Online: 5 Things You Should Know

After selling online for a couple of years, I’ve learned a few things. It might be super easy and convenient, but like anything on the Internet, there are some caveats and things you should know.

1. You will need to be flexible. Sure, you can get a lot more for your items online, but that doesn’t mean you’ll always get what you want. Consider how long you’ve had the item for sale and whether you’ve had any offers at all. Further, calculate how much less you’d get if you took it to a brick and mortar resell shop or sold it at a garage sale.

2. Honesty matters. Many online sites let buyers and sellers rate the transactions and leave feedback. It might be tempting to hide a small hole or describe the item as EUC (excellent used condition) when it’s really just halfway decent. However, keep in mind that it could backfire and mean the difference in whether or not a buyer trusts you later. Put yourself in the buyer’s shoes – think about the kinds of things that would lead you to leave negative feedback.

3. There is a time commitment. Although it’s more convenient, make sure you’ll have time to package up your sales and get them out in a timely manner. Don’t risk losing because you’ve dragged your feet on a sale and waited three weeks to ship it out. In fact, many sites will cancel the sale if you take too long to reply or mail the item.

4. You can sell more than clothes. This is all fairly convenient for clothing, but what about selling electronics and household items? As you might guess, there are online apps and sites where you can sell nearly anything. In fact, sometimes you’ll sell more on an app that targets those particular types of purchases. For furniture and large items, you can use LetGo or Facebook Marketplace. For electronics, household items, and other small items, you might try an app like Mercari, where you can basically sell anything imaginable.

5. There may be fees/commissions. Although you might earn more using an online consignment shop, it will also cost you. However, most of the time, it isn’t any more than what the consignment shop near you would take as their cut anyway. These fees are usually taken out directly from your sale, so make sure you price accordingly. To give you an idea, here are some of the fees or what it will cost you to sell through some of the top online selling sites.

Poshmark – Sales under $15, $2.95. Sales $15 or more, the fee is 20%. This includes a pre-paid shipping label.
eBay – varies but for items up to $50, fees range from 8% to 12%.
Mercari – flat rate of 10%; you do pay for your shipping label.
TheRealReal – Receive up to 85% commission.
ThredUp – Payouts vary; From $14.99 or less you receive about 5% up to items $300 or more you receive as much as 80%.
LetGo – Currently free.

Is Selling Online Worth It?

For me, the amount of money I’ve made selling my stuff online from my living room versus the cost, time, and trouble to maybe sell something at consignment shops near me has been worth it. For most people, the pros will outweigh the cons. Just make sure you do a little research into the best platform for your items. Then, snap some pics and upload. You’ll be well on your way to clearing out your used stuff and earning some extra cash in no time.

Have you tried any online consignment shops? Which ones were most successful?

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Is the Kinfo App the Best Trading App On the Market?

October 10, 2018 By Tamila McDonald Leave a Comment

Kinfo, the Social Investing App, isn’t like other investment-oriented apps. Instead of functioning as a roboadvisor, one of the more popular app-based approaches to managing portfolios, or a traditional broker, Kinfo more closely resembles a social media platform. However, instead of filling your feed with photos from friends and cat videos, Kinfo touts its ability to help you make smarter trades. Is Kinfo the best trading app? Let’s take a look.

What is Kinfo?

Kinfo is an investment analysis app that lets you find an answer to a common question: how does your portfolio stack up against someone else’s?

The app is comprised of a community, not unlike a social media platform. On it, people can share non-sensitive details about their investments, giving people the ability to compare and contrast their portfolios to the holdings of others.

Additionally, Kinfo gives users the ability to receive news alerts that may impact their investments. You can review insights and analysis through the app, as well as stay on top of relevant information.

However, Kinfo is not a brokerage. While the free service lets you connect to your current brokerage account, you can’t create one through the Kinfo App. Similarly, you can’t buy or sell investments directly through the app. Instead, it’s sole function is to give you a better understanding of your portfolio and investing strategy as well as serve as a platform to help you learn from others.

How Can Kinfo Help Your Investment Success?

Kinfo users have access to information that helps them analyze the performance of their investments. Not only do you have access to analytical information through the app, but you can also compare your portfolio to other users.

With Kinfo, you can examine your investments and see how they stack up to other users. When making comparisons, you aren’t limited to just your friends and family. Instead, you can see what community members, finance and investment bloggers, and even professional investors are doing. By reviewing the portfolios of others, you have a unique opportunity to improve your performance by increasing your knowledge and refining your long-term strategy.

Additionally, the app analyzes your portfolio and provides information about your holdings. This allows you to educate yourself on your investments, which is something that can serve you well when you consider adding or selling assets.

A unique feature of Kinfo is you have options when it comes to overseeing your portfolio. If you have multiple brokerage accounts, you can choose to create separate portfolios in the app for each one.

However, you can also combine the data into a single portfolio in the app, making it easier to have a holistic view of your investments. This alone can be beneficial as it makes it easier to see the big picture.

How Does Kinfo Work?

Not unlike a social media network, Kinfo allows you to create a public profile. You can add a picture, general location, as well as a summary, similar to Twitter and Facebook. Additionally, you can share on your “wall,” giving you a place to post information or share your thoughts about investments.

As a user, you have the ability to “follow” other users, and members of the community can also follow you. You can gain insights from the information they share, potentially giving you a path for improving your strategies or identifying new investments with potential.

The app also provides users with access to a wide variety of analysis, including hedge fund results, something that is fairly rare in the investment-oriented app world. Stock ratings from a variety of sources are available through the app as well, which can be incredibly convenient.

There is also an option to set up notifications, allowing you to receive alerts for relevant new activity that relates to your investments.

Another unique offering is a page dedicated to news about insider trading. Some investors believe that activity in that area can help predict the performance of a stock, though that isn’t a guarantee.

Is Kinfo Secure?

Understandably, many people may hesitate to allow an app to access information from their brokerage account. When it comes to personal financial information, being security-conscious is wise, so Kinfo has security features to put your mind at ease.

Kinfo, itself, is secure. The company uses TradeIt, a third-party aggregator, to connect to your account and download your data securely. Further, your account login information isn’t stored by Kinfo, reducing the level of risk even more.

Additionally, when it connects to your brokerage account, it uses a similar process as some of the country’s most popular budgeting apps. Kinfo’s access to always read-only, so executing trades using the connection is impossible.

What Does Kinfo Cost?

Kinfo is completely free to use. There is no cost to join the community or download the app, so you don’t lose anything by signing up.

Are There Any Drawbacks?

Currently, one of the only drawbacks to Kinfo is that the app only supports a limited number of brokerages. However, it does connect with many big names in the industry, so many investors won’t find this to be a problem.

While Kinfo says they support most US brokers, they only list the following as compatible:

Fidelity
E-Trade
Robinhood
TD Ameritrade
Schwab
Interactive Brokers
Scottrade
OptionsHouse
Vanguard
Tradier
Ally
TradeStation

Additionally, if you are looking for a brokerage and not just a source of information, Kinfo can’t meet that need. They are not a broker, so you need an account elsewhere to make use of the app.

Otherwise, since the app provides access to free information and doesn’t cost you a dime, it can be a great resource. Just keep in mind that users aren’t all financial experts, so community-based advice may or may not be reliable. Instead of assuming that a recommendation for a user is worthwhile automatically, consider doing additional research before making any trades. That way, you can make sure that their opinion has validity before you stake your financial future on it.

Have you tried the Kinfo App? What do you think is the best trading app? Tell us about your experience in the comments below.

If you enjoy reading our blog posts and would like to try your hand at blogging, we have good news for you; you can do exactly that on Saving Advice. Just click here to get started.

100 Ways to Make An Extra $100 This Month

October 3, 2018 By Christina Majaski Leave a Comment

Sure, it doesn’t seem like much these days, but you can still do quite a bit with an extra $100. In fact, if you earn and save $100 each month for a year, you’ll end up with $1,200, which can go toward your dream vacation, retirement, or emergency fund. Unfortunately, money doesn’t just fall out of the sky. However, it could be a little easier than you think. We have 100 easy ways to make extra money this month.

100 Ways to Make Extra Money

1. Become a Fitness Trainer or Coach – Do you like working out? You can help others meet their fitness goals either online or in person as a trainer or coach.
2. Pet Sitting – Petsitters can earn hundreds of dollars in just one day, with many charging at least $35/night. Sign up for services like Rover.com and PetSitter.com to start building your client base.
3. Dog Walking – Like petsitting, you can make a bunch of extra cash just walking other people’s dogs.
4. Run Errands – Many people need help running errands. Depending on the service, you can make hundreds of dollars in just one day.
5. Housecleaning – Do you enjoy vacuuming floors or making beds? Then a housecleaning gig could be perfect for you. This is another task that allows you to earn hundreds of dollars in just one day.
6. Earn Cash Back – Sites like Ebates allow you to earn money every time you shop, in the form of cash back. Depending on how much you shop, you can make at least $100 per month.
7. Organizer – Do you have a knack for organization? You can earn money and help those of us who are not, by organizing closets, garages, and other areas of the house.
8. Online Surveys – Take surveys online with sites like MySurvey.com and Swagbucks.com.
9. Virtual Assistant – Help businesses by providing virtual assistant services such as email and appointment management.
10. Writing – You can earn hundreds of dollars every month providing a wide variety of writing services from technical writing to copy writing and even creative writing.
11. Sell Your Creations – You can create decorations and design t-shirts and then sell them online through sites like Etsy.com and TeeSpring.com.
12. Sell Photos – If you enjoy photography, you can sell your pictures on sites like Shutterstock.com
13. Test Products – Many sites will pay you to test products. ProductTestingUSA.com will pay you to test products and mystery shop.
14. Sell Old Clothing and Shoes – Get rid of the clothing and shoes you don’t wear. You can do this either with consignment stores, or with apps online like Poshmark.com
15. Become a Driver – Although there are options like Uber and Lyft for earning money while driving; you can also earn money driving for friends, family members, and people in your community.
16. Babysit – Babysitting is always an easy way to earn money, especially if you love kids. It’s also an easy way to meet your goal of at least $100 per month.
17. Watch Videos – You can earn money watching videos and providing feedback with companies like Vindale Research.
18. Tutor – There is always a high demand for tutors online for a variety of topics and areas.
19. Participate in Mock Trials – Read over details, share your thoughts, and participate in mock trials. These can pay anywhere from $8 to $100, so it’s worth checking out and signing up with sites like Jury Talk and eJury.
20. Rent Your Home – You can earn hundreds, even thousands of dollars per month renting your home or a room in your house with Airbnb.
21. Become a Bookkeeper – Provide business owners with bookkeeping services.
22. Rent Your Car – You can rent out your car to earn extra money each month.
23. Join a Focus Group – Focus groups basically pay you for your opinion, review, or research on anything from products to political campaigns. Some of the online focus groups to check out include FocusGroup.com and Engage Studies.
24. Rent Your Clothing – If you have specialty or designer clothing, you don’t have to sell it, you can rent it out instead.
25. Fix Computers – If you can repair computers, you’ll be able to earn extra money and help people out when they’re in a jam.
26. Give Advice – If you are an expert in any of the 175+ categories on JustAnswer, you can get paid to answer questions and give advice.
27. Have a Garage or Yard Sale – It’s easy to make at least $100 a month with a small garage or yard sale. Plus, it’s a good way to declutter.
28. Peer to Peer Lending – If you have as little as $25, you can get started investing in peer-to-peer lending with sites like Prosper and Lending Club.
29. Invest – Sure, you have to have money to invest, but it’s certainly possible to make at least $100 even with a small amount (even as much as 300% returns).
30. Do Yard Work – No matter what the season or weather, there’s always some kind of yard work you can get paid for.
31. Offer Moving and Packing Services – Lots of people need assistance packing up their belongings and transporting them to new locations.
32. Set Up Holiday Decorations – Yard decorations especially during the holidays is big business. Many people will pay for help getting their homes prepared for Christmas, Halloween, and even Easter.
33. Make Baked Goods – There’s a reason bake sales are so popular. Who doesn’t love baked goods? If you enjoy baking, start selling your pies, cakes, and cookies and make some extra money.
34. Make Meals – It isn’t just baked goods that people want to buy. You can sell ready-made meals for families who are too busy to cook in the evenings, or for handy lunches.
35. Detail Cars – Cleaning and detailing cars can net well over $100 per month. Consider becoming a mobile car detailer who drives to the car rather than having them drive to you.
36. Donate Plasma – Donating plasma is always a great thing to do. It not only helps you earn money, but may also help save someone’s life.
37. Participate in Medical Studies – Participate in a medical study and you not only earn money, but you also help medical research. Sign up with sites like Covance Clinical Trials.
38. Affiliate Marketing – This isn’t an option if you need money quickly, but you can certainly make at least $100 a month in affiliate marketing. If you have a blog, this is definitely something to look into for earning extra money.
39. Sell on Amazon – By buying products at a discount and reselling them on Amazon, you can make a significant amount of money.
40. Resell Unused Gift Cards – Do you have a stack of gift cards laying around that you won’t use? Resell them and earn money with sites like Giftcards.com and Raise.com
41. Return or Resell Technology – Don’t let your old laptops, tablets, and smartphones continue to collect dust in your closet. Resell them through companies like Apple’s Buyback program, Best Buy, and Gazelle.com.
42. Teach English or Another Language – There is a huge demand for English teachers online, and many don’t require a teaching degree. Check out Teachaway.com and International TEFL Academy.
43. Prepare Taxes – You can earn extra money managing and preparing taxes all year – not just at tax time.
44. Fix Cars – Do you know how to repair cars and carry out basic maintenance? Offer your knowledge and services to people who need repairs and oil changes.
45. Help People with Technology – Many people have a difficult time managing their smartphones and computers. You can not only teach them the basics, but you can also help them when they are stuck and unsure of how to operate their devices.
46. Personal Shopping – You can shop for and deliver all kinds of items from groceries to gifts.
47. Offer Services on Fiverr – In order to make an extra $100 a month, you only need 20 gigs. Check it out and see what kinds of services you can provide.
48. Mystery Shopping – Believe it or not, mystery shopping is legit. You can earn money as a mystery shopper with a couple of different companies, including Market Force and BestMark.
49. Couch Surfing – Travelers and digital nomads are always looking for a couch to sleep on, and you can earn money when you rent yours out.
50. Sell CDs and DVDs – Everyone has a stash of CDs and DVDs they don’t listen to or watch. Instead, get rid of them and earn some money. Check out Decluttr.com as well as your local pawn shops and game shops.
51. Search Engine Evaluator – Companies like Appen pay people to evaluate websites and social media pages.
52. Sell for Other People – Don’t have anything left to sell? Why not sell other people’s stuff. Many people have old clothes, shoes, and electronics around the house but they don’t have time to sell it all.
53. Nanny – Like babysitting, you can provide nanny services. It’s similar, but you might also be required to cook, take the children to appointments, and perform other duties.
54. Sell Sperm or Eggs – You may want to check clinics locally, but you can also sign up with companies like NWCryoBank.com if you’re interested in selling sperm or eggs.
55. Resell Books and Textbooks – Get rid of your old books and earn money, especially if you have college textbooks lying around.
56. Do Handywork – Are you handy around the house? Earn money repairing items and even hanging pictures.
57. Assemble and Disassemble Furniture – Not everyone can assemble or disassemble furniture, which is where you come in.
58. Paint – Painting is one of those things that usually needs to be done, but no one has time for. This is something you can do to earn money and help out homeowners.
59. Haul Away Junk – Especially in spring, hauling away junk is big business. Help people get rid of the stuff they’re storing in their attics and garages.
60. Provide Laundry Services – You can either pick up or have clients drop off their laundry. Either way, it’s an easy opportunity to earn extra cash.
61. Search the Internet – Sites like Swagbucks will pay you to search the internet. This is one way to earn money doing something you’d typically be doing anyway.
62. Shopping In-Store – Shopkick pays you with gift cards to shop in-store and online.
63. Online Consulting – Become a consultant with sites like Clarity.fm. You can cover a wide variety of areas from entrepreneurship to social media and SEO.
64. Sell Nude Pics – This isn’t for everyone, but you can definitely get paid to sell your nude pics if you want.
65. Test Websites – Have a couple of extra minutes to test out some websites? UserTesting will pay you.
66. Create an Online Course – There are a number of sites like Udemy, which will allow you to create an online course and earn money.
67. Rent Out Garage – Do you have garage space you aren’t using? Rent it out to someone who doesn’t.
68. Rent Parking Spot or Driveway – Like garage spaces, parking spots and driveways might be rare, depending on where you live. You can earn money renting out these spaces as well.
69. Write and Update Resumes – Are you pretty good with words? Offer your services to write and edit or update resumes.
70. Catering Service – Offer to cater meals for organizations and businesses.
71. Recycle for Yourself and Others – You might not be able to collect enough aluminum to earn enough from recycling. However, you can collect yours and your family and friends’ and be well on your way to an extra $100 this month.
72. Be Someone’s Friend – Believe it or not, with Rent a Friend, you can be paid to be someone’s friend.
73. Surf the Internet – Microsoft Rewards pays you to use your Microsoft Edge as your browser and Bing as your search engine.
74. Download Free Apps – Feature Points allows you to make money downloading free apps and trying them for two minutes.
75. Earn from Ads On Your Phone – You can earn money with apps like Fronto and Slidejoy when you add them to your Android phone lock screen.
76. Let People Watch You Game – Are you a gamer? Twitch allows you to actually make money from your video game footage.
77. Sell Your Hair – Sites like HairSellOn buy hair for people who need it for wigs, extensions, and other things.
78. Watch Video Ads – With App Trailers, you can make extra money just watching video ads for different apps.
79. Editing and Proofreading – Like writing, there is a huge demand for editing and proofreading, especially if you live in a college town.
80. Test Drive Cars – Check with dealerships in your area. Hyundai and Subaru have both had programs where you can earn money for test driving vehicles.
81. Sell Lesson Plans – Teachers and parents who are homeschooling need lesson plans. If you happen to have them or can create them, you can earn extra money.
82. Use Your Voice – Voice over work is used in many places, including audiobooks. Check out sites like Voice Bunny for more information.
83. Use Your Apps – AppKarma will pay you for using your apps.
84. Handwriting and Calligraphy – There are still companies and organizations that will pay you to hand write notes. If you have a specialty like calligraphy you can get paid more. You can find these kinds of opportunities on job boards like Upwork.
85. Deliver for Amazon – You can get paid to deliver Amazon packages.
86. Pooper Scooper – It’s a dirty job, but people will pay you for pet waste removal services. Check the job boards like Indeed.com in your area.
87. Get Healthy – Join challenges that pay you to lose weight and get healthy.
88. Photo Editing – Are you good with filters and photo editing? You can earn extra money just fixing other people’s selfies. Sometimes, stock photo sites will pay you to edit and review images. Otherwise, you can advertise your services yourself.
89. Write Reviews – Swagbucks and InBoxDollars both pay you to write reviews.
90. Data Entry – You can check for data entry opportunities on job boards like Upwork and Indeed. You can also ask business owners in your area if they need any data entry help.
91. Manage Social Media – Are you already on Twitter, Facebook, or Instagram? You can get paid to manage these accounts for brands and businesses.
92. Brand Ambassador/Influencer – Check social media, businesses, and your favorite brands to see if they are looking for a brand ambassador or influencer.
93. Online Dating Consultant – There are many ways to make money in the dating world, including providing matchmaking services, online dating consulting, and even assistance writing and creating profiles.
94. Watch TV and Movies – Viggle is an app that will pay you money and rewards for watching your favorite TV shows and movies.
95. Data Analysis for Companies – This is also work you can find by checking with local businesses and job boards. If you’re a numbers person, it’s worth looking into.
96. Customer Service Rep/Call Center – Call center jobs are plentiful and allow you to work from home. Plus, if you’re not into sales, you can also work in customer service just answering questions.
97. Show Off Your City – Visitors can always use a tour guide. If you’re familiar with the greatest spots in your city, you can earn money showing people around town.
98. Rent Out Your Camera Gear – You can rent out nearly anything, including camera gear. There are many sites like Kitsplit, that you can work with, or you can branch out on your own.
99. Umpire – Check the schools and sports organizations in your area to earn money as an umpire or other sports official.
100. Sign Up for Credit Cards – You probably don’t want to do this every month, but you can sign up for a new credit card and earn cash when you meet the spending requirement. For instance, the Capital One Quicksilver Rewards card offers a $150 bonus if you use your card to spend $500 in the first three months. If you make sure you only use your card for purchases you’d make anyway, and pay off your balance in full, you’ll end up with an extra $150.

Be Aware of The Costs

There’s no shortage of information and services available claiming to help you make money fast. Unfortunately, they aren’t always legit. Sometimes, these “opportunities” can even end up costing you more than you make.

First, make sure you are fully aware of the costs to get started with any opportunity. Furthermore, it’s a good idea to compare the costs and expenses of supplies and other equipment you will need. Also, keep in mind that if you’re looking for ways to make an extra $100 a month, there are plenty available that won’t cost you anything.

Read the Fine Print Before Signing Up

Second, be careful of what you are giving up in exchange for the opportunity to make money. Are you okay with the company selling your personal information? Are there privacy concerns? Read the fine print to get a clear idea of whether or not it’s something you are comfortable with.

Taking Time to Earn Extra Money

Most importantly, don’t forget that your time is valuable. Sure, there are multitudes of opportunities out there that will put a couple of dollars in your pocket. However, if it takes you two days of walking the streets in the cold to make $20, you might want to look for something more efficient. At the same time, consider and weigh how much time you are willing to spend away from your family and the things you enjoy doing.

Have you tried any of these? Do you have any tips for making extra money? Share with us in the comments below!

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Why Should I Invest in REITs?

September 27, 2018 By Tamila McDonald Leave a Comment

Most investors know that real estate can be a solid investment, but the barrier to entry can seem incredibly high. If you don’t have the ability to purchase investment properties, getting in the real estate game may seem impossible. However, thanks to real estate investment trusts (REITs), nearly anyone can add real estate to their portfolio.

Why Should You Invest in REITs?

REITs offer investors a range of benefits. First and foremost, REITs add a level of diversification to your portfolio, something that is always wise to maintain. It’s also a great way to get involved in real estate.

An REIT is functionally similar to a mutual fund. Multiple investors pool their cash, allowing each of them to own a portion of a property or project. This can make real estate accessible to individuals who can’t afford to purchase apartment complexes or commercial buildings on their own, giving them a way to come together with others to accomplish that goal.

Plus, REITs can be incredibly lucrative. They earn money through rental income paid by tenants. Considering that rental rate has increased dramatically over recent years, going up 2.4 percent in 2017 alone, REITs hold a lot of potential.

Rich Dividends

One of the biggest reasons to invest in REITs is the dividends. Nearly all of the profits made from the property are paid out as dividends, so the distributions can be higher than many other assets, including average stock gains.

Achieving gains around the 4 percent mark is fairly common, especially with big players in the REIT space. However, if you are willing to take on additional risk, even double digits are possible.

Typically, REITs reward their shareholders better than stocks. Just make sure to assess the level of risk, quality, and stability before you invest. Like any other asset you can acquire, gains are not a guarantee, so you want to do your research before committing your hard-earned cash.

Reduce Portfolio Volatility

REITs can actually reduce the overall volatility of your portfolio. These investments don’t follow the same pattern as the larger economy. When stocks take a tumble, REITs don’t automatically do the same. In fact, their value may increase, even as other assets see a dip.

Since the pattern of REITs can be different, this provides investors with a level of overall stability. Riding out fluctuations in other markets may be easier to bear, especially if you are using your assets as a source of income, since not everything falls at the same time.

Rising Interest Rates

In 2018, the Federal Reserve increased interest rates twice before the September meeting, leaving space for potentially another two increases before the end of 2018. While this can signal trouble for homebuyers, it has the ability to boost the value of REITs.

Usually, rate increases are a sign of a strengthening economy. When businesses prosper, demand for rental spaces increases. Additionally, if would-be homebuyers can’t get a good rate, they may keep renting, increasing the number of potential tenants.

Tax Advantages

REITs are not subject to double taxation as long as the fund pays out over 90 percent of its taxable income to shareholders. When that occurs, the profits aren’t taxed at the corporate level, allowing investors to receive higher dividends.

While the gain is usually taxable at the shareholder’s nominal tax rate, instead of the qualified dividend reduced rate, the access to higher dividends can result in a net gain in comparison to traditional dividend stocks.

Plus, if you add REITs to a tax-advantaged account, like an IRA, you can actually side step the dividend tax. This makes them especially lucrative options for retirement savings, especially if your nominal tax rate will decline when you retire.

Liquidity

While buying real estate can be a sound investment, it isn’t particularly liquid. Selling a high dollar property can take time, and you can’t be sure how long it will sit on the market before someone buys.

REITs are substantially more liquid than physical properties. If you end up needing cash quickly, it’s much easier to make an exit from an REIT than it is to sell a building.

Ultimately, REITs can be an incredibly valuable part of a diversified portfolio, providing high dividends, reducing cumulative volatility, and even serving as a source of income with reasonable liquidity. With interest rates rising, now is a great time to explore REITs, giving you a path to invest in real estate without actually having to buy property.

Do you invest in REITs? Tell us about your experience in the comments below.

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How Valuable Are Your Comics? Take a Look at This Price Guide

September 25, 2018 By Amanda Stewart Leave a Comment

People began collecting, buying, and trading comic books in the 1960s. Occasionally, an extremely rare comic book will sell for tens of thousands of dollars. In fact, one sold for $3.2 million in 2014. For the most part, these aren’t the comics sitting in your basement or attic in a box covered with dust. However, if you’re wondering what your collection is worth, take a look at the comic book price guide we’ve put together below.

How Much Your Comics Are Worth May Depend on Your Location

It is important to note that the price a comic book store is willing to pay for your collection will depend on the store itself. There is a generalized pricing system in place. There are also a few tricks for figuring out how much you might earn by selling your comic books.

Most importantly, make sure you take the items you are thinking of selling for an appraisal at more than one location. You can also call around to get pricing estimates. However, most stores will want to see the condition of the comic to give you a definite price.

That being said, a comic book price guide is just that – a guide. You won’t necessarily be able to pull in thousands with your current collection but a guide can give you a good idea about which books may hold some value.

Quick Comic Book Price Guide

To determine how much your comic book is worth, dealers and graders have a number of things they consider before offering you a price. Most reference a numeric system of 0.5 to 10.0 where 0.5 is poor and 10.0 is Mint or “Gem Mint.” Many collectors and companies who purchase comic books use this scale.

This is where things get a little sticky. Where your comic book falls on the numeric scale may depend on descriptive notes left by the dealer or grader. Many collectors have their own ideas about what flaws are more acceptable than others. However, certain issues and series may be worth more than others.

The title has an impact on how much the book will be worth as well. Action Comics, for example, is a title and just so happens to be the title associated with the world’s most expensive comic book (mentioned at the beginning of the article). Within the title Action Comics, there are more than 900 issues.

An issue is a single installment of a title with its own number, for example, Action Comics #16. There may also be a volume number included on some issues, like Punisher Vol. 1 #18.

Comic Book Realm has an excellent price guide system that will allow you to enter your comic book information. After you’ve searched the book using the publisher and series title, it will give you an estimated selling price for your comic.

Most Valuable Comic Books

Although the comics you have may not be worth more than a few dollars a piece, there are some extremely valuable comic books out there. Check your collection for these.

Golden Age (1938-1956)

Action Comics #1 (June 1938): This issue was mentioned at the beginning of this article as being the world’s most expensive comic book. It contains the first appearance of Superman. Its record sale was $3.2 million and it has a minimum value of $75,000.
Detective Comics #27 (May 1939): If you love Batman, this is the first issue he ever appeared in. It has sold for as much as $2.1 million and it holds a minimum value of $70,000.
All-Star Comics #8 (December 1941): Wonder Woman made her debut in this issue, making it worth at least $10,000. In mint condition, it has brought as much as $936,000.

Silver Age (1957-1970)

Amazing Fantasy #15 (August 1962): This comic contains Spider-Man’s very first appearance. The minimum value for this comic is $3,000 and has sold for as much as $1.1 million.
X-Men #1 (September 1963): If you have this comic book in your collection, it could be worth a pretty penny as well. It is the first time the X-Men were seen in a comic and is worth at least $450. On the top end of the pricing scale, you may be able to get $492,000.
Tales of Suspense #39 (March 1963): Issue 39 of this title is where Iron Man made his debut. Because of that, it is worth at least $400 and has sold for as much as $375,000.

Bronze Age (1971-1980)

Marvel Spotlight #5 (August 1972): The Ghost Rider made his first appearance. On the lower end of the scale, you’ll get $20 for this comic. Its record sale price is around $48,500.
Incredible Hulk #181 (November 1974): This comic is worth at least $300 simply because it was the first full appearance of Wolverine. If you have a copy in mint condition, you may be able to get as much as $150,000 for it.
Green Lantern #76 (April 1970): Green Arrows joins the crew in this comic book, which makes it special. For issues in poor condition, you’re looking at a sale price of about $40. Those in mint condition have sold for as much as $31,000.

Copper Age (1981-1991)

Teenage Mutant Ninja Turtles #1 (1984): This issue is where the popular ninja turtles made their debut. It holds a minimum value of $300 and has sold for as much as $38,000.
Wolverine v2 #1 (1988): Some comics are worth a lot simply for being the first in the series. That is the case with this issue. It has sold for as much as $17,000. However, it is only worth $1 in poor condition.
Wolverine Ltd Series #1 (1982): The 80s was a big time for Wolverine. The classic cover holds a minimum value of $10 but has sold for as much as $14,000.

Modern Age (1992-Present)

The Walking Dead #1 (October 2003): The first issue of the popular comic-turned-TV-show has a minimum value of $250. In great condition, it may be worth as much as $20,000, though most in good condition sell around $2,500.
Dark Knight III: Master Race #1 (2016): This issue has a minimum value of $150. Its record sale price currently sits at $2,800.
Elseworlds 80-Page Giant #1 (1999): This issue is considered rare and also holds a minimum value of $150. However, it has sold for as much as $4,700.

Where to Sell Your Comics

After reading this you may be thinking about selling some of your comic book collection, especially if you have some of the more valuable issues. Here are a few places you can sell your comics.

Your local comic book store or bookstore: Many local comic book stores and privately-owned bookstores may be interested in buying your comic books. If they aren’t worth much, they may offer you an in-store voucher to buy something there. These stores will also likely give you a bit more room to barter.
eBay: The most expensive comic books are generally put up for auction on eBay. You can set a minimum price and simply watch the price tag go up while you sit back and relax. Many comic book enthusiasts have gotten their books appraised and then sold them this way.
SellMyComicBooks.com: SellMyComicBooks.com is a reputable website that buys-and-sells comics. It also has an automated system for appraisal.

Readers, do you have any of these valuable comic books? Have you ever considered selling them?

How Much Money Can You Save Yearly in a Polygamous Relationship?

September 21, 2018 By Tamila McDonald Leave a Comment

When it comes to finances, being in a relationship inherently makes things more difficult. Even if there are only two adults in the equation, that means serious discussions. Add more partners to the mix and the financial complexity increases. On the other side of the equation, a multi-partner or polygamous relationship might actually save you money.

Polyamorous vs. Polygamous Relationships

Before discussing the potential money-saving advantages of having multiple partners, it is important to point out the difference between polyamory and polygamy.

Many people assume the terms are interchangeable. However, they refer to two separate things. Polygamy involves being in more than one relationship that is treated as a marriage and is illegal under U.S. law.

Polyamory is a form of nonmonogamy. This type of relationship includes multiple romantic partners but no more than one (and, at times, none) are considered married. Polyamory is legal in the U.S., as long as the relationships don’t shift into being polygamous.

How Much Money Can You Save?

The exact amount of money a person can save in a polyamorous or polygamous relationship depends on a range of factors. The savings will vary depending on the unique circumstances surrounding the relationships.

If multiple partners choose to reside under the same roof, the potential to save on housing costs can be significant. For example, an average mortgage payment in the U.S. is $1,029. If this is split by a couple, each person is responsible for $514.50. However, if a third person is there, each partner pays just $343.

The same division of costs could apply to any household expenses. Help with utilities and maintenance expenses can result in savings for each person. Similarly, food costs could be split, saving each individual a bit of cash.

However, property insurance can be more complex. You may only be able to secure homeowner’s insurance for those who are legal owners. So, unless every partner is a legal owner of the house, a single policy won’t cover everyone. Separate renter’s insurance policies may be necessary for certain partners.

Child Care Savings

Another potential point of savings is child care. If a partner can stay home with the children, savings can be major. Eliminating the need for child care, results in a savings of $6,615 to $19,805 annually, depending on your state. But, if someone has to quit their job to stay home, it will offset the savings. Job loss lowers the household’s total income.

You may be able to reduce other expenses as well. For instance, you may be able to carpool. Eliminating the need for a vehicle or lowering fuel costs helps with savings. If two partners wear similar size clothes, they may be able to share parts of their wardrobe. If large household purchases, like televisions or appliances, are split equally, each person only pays part of the total cost.

Ultimately, there is potential for significant savings, especially if all of the partners choose to live together.

Can You Really Save Money?

To put it simply, no, there is no guarantee that a polyamorous or polygamous relationship will save you money. For example, if multiple partners move in together, each person can save on housing costs. However, if you end up maintaining more than one home, those expenses go up.

Having more than two romantic partners doesn’t mean everyone wants to live together. This could leave some people contributing to more than one partner’s household. Expenses such as splitting rent or mortgage payments, utilities, maintenance costs, or others, add up quickly.

Similarly, maintaining multiple romantic relationships could create costs beyond being in one relationship. For instance, you might pay for more date nights, birthday and Christmas gifts, or similar expenses could be higher.

If saving money is the goal, then each person needs to review their budgets and income as a starting point. Then, open discussions are necessary to ensure everyone does their fair share in maintaining the household(s) or for deciding if cohabitating is the best approach.

Significant Risks of a Polygamous Relationship

If a relationship is genuinely polygamous, there are additional risks. First, criminal charges are a possibility. This can lead to serious financial costs, ranging from lawyer’s fees to fines. Plus, if there is jail time, that results in lost wages and potential employment difficulties in the future.

Second, estate planning in a polygamous relationship is also challenging. Multiple marriages complicate who has rights to a person’s property or financial assets after their passing. These complexities are one of the reasons polygamous relationships are illegal, especially in common law marriage states where a formal marriage isn’t a requirement to gain certain rights.

Even individuals exploring polyamory can find estate planning difficult, particularly if they want to leave assets to their various partners. With this in mind, it’s always wise to explore state laws regarding polyamorous and polygamous relationships, as the definitions and requirements can vary from one jurisdiction to the next.

Money Saving Opportunities Do Exist

Ultimately, polyamorous and polygamous relationships can result in money-saving opportunities. They can also come with additional costs. Open communication and active planning steps are necessities. Otherwise, it will be challenging to find workable solutions that can help each person to save.

Additionally, it’s wise to avoid crossing into polygamy. The legal ramifications are significant. They can also be potentially dire, and incredibly costly if there are any charges.

Polyamory doesn’t necessarily come with the same risks. If you want to maintain multiple relationships, it’s wise to explore state and federal laws thoroughly, especially in common law marriage states. That way, everyone can stay on the right side of the law and avoid the legal and financial complications.

Are you in a polygamous or polyamorous relationship? Share your thoughts about finances in the comments below.

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