SoFi’s February Roundup

We’re starting off this month with a focus on how to handle some of life’s unexpected positives when it comes to finances. For example, what are the best money moves to make when you inherit money? How about if you experience another type of surprise windfall?

If you were lucky enough to get a year-end bonus at the end of 2020, and you were able to sock it away as you figure out what to do with it, we have some tips for creating a spending strategy that may help you balance wants, needs, and even long-term planning.

For Your Future Good Fortune

If you’ve recently encountered a large financial windfall — say you won the lottery or a legal settlement — other considerations can come into play, such as taxes. This guide can help you better understand what planning steps may work best for your particular situation. Of course, if your windfall came from an inheritance, there’s a unique set of considerations, and these tips can help you sort through them.

For More-Income Inspiration

Of course, the scenarios above aren’t common. A lot of folks right now are still trying to figure out how to make ends meet as the pandemic drags on. If you’re looking for a way to supplement your monthly income, this guide for starting a side hustle could be helpful. It focuses on tapping skills you already have to generate more income. And if you need some other, creative ideas for ways to make money, never fear! Here are 70 ideas for making extra money every month .

If you do start a sideline business, you’ll be in good company. These celebrities all have invested in businesses other than their primary line of work. If your goal is to have a six-figure income , we’ve got an explainer for you on exactly what that means.

Want to put your money into something off the beaten path? Whiskey? Music rights? This roundup may give you ideas.

For Golden Road Trips

If you are approaching retirement, here are four things you may want to consider before making it official. If your plan is to travel, one way to cut costs is to live in a van . Retirement on the road could be fun, after all — at least for a little while.

If you do choose that option, you’ll certainly need some tunes for the road. With that, we’ll leave you with 20 country songs that offer lessons about money.

If you’re looking to get your finances in order, SoFi can help.

SoFi Checking and Savings® is a checking and savings account with no account fees—and where you can spend, save, and earn all in one place.

Also, SoFi members gain access to SoFi Relay®, where they can track all their incoming and outgoing cash, set up goals, and ensure they aren’t spending above their means.

Tax Information: This article provides general background information only and is not intended to serve as legal or tax advice or as a substitute for legal counsel. You should consult your own attorney and/or tax advisor if you have a question requiring legal or tax advice.
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