What is a Minimalist Lifestyle? Minimalist Lifestyle Tips

Guide to a Minimalist Lifestyle

Many of us struggle to keep up with the demands of our daily lives, which can create stress and anxiety. That’s why some choose a minimalist lifestyle: Fewer possessions make for easier management. Minimalists strive to eliminate anything in their life that does not serve their purpose. This leads to more physical, emotional, and mental space.

There are gradations of minimalism because the mindset change from consumerism to minimalism is a drastic one best done gradually. If that change appeals to you, read on to better understand what a minimalist lifestyle is, its benefits, and how to start on the path to a simpler, more manageable lifestyle.

What Is a Minimalist Lifestyle?

Minimalist living is uncluttered by superfluous items like luxury cars, excessive clothing, and purely decorative furnishings. There can be many reasons someone chooses a minimalist lifestyle; they might want to simplify their life to reduce stress, improve their health, or reduce harm to the environment. They may also want to cut back on expenses and improve their budgeting and finances.

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Surprising Benefits of a Minimalist Lifestyle

When you have less stuff, it follows that you have less to worry about. A minimalist lifestyle allows you to carry less literal and metaphorical baggage around.

Another benefit is that minimalists buy fewer things, which saves money. From a holistic perspective, minimalism reduces consumerism, and that benefits the planet.

How to Live a Minimalist Lifestyle

Living a minimalist lifestyle can seem daunting for some, requiring a mindset shift. Here’s a window into a more minimalist mindset and lifestyle to give you a taste of what it involves.

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Invest in Experiences

Rather than collecting things and possessions, a minimalist lifestyle emphasizes experiences. Minimalists spend, just in a more deliberate way. For example, minimalists may spend on vacations and concerts rather than on cars and jewelry.

Recommended: The Benefits of Living Below Your Means

Audit Your Life

Auditing your life involves deciding what is most important and eliminating anything superfluous. Deciding what is most important can be difficult, but some questions to ask yourself are: How am I doing mentally and physically? What’s important to me now that perhaps wasn’t before? The answer to these and similar questions can help you pinpoint your core values and priorities.

A free budget app can help you audit your spending and evaluate how much of it is really necessary.

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Eliminate Needless Expenses

A meaningless expense to one person may be valuable to another. That’s why conducting a life audit is important to help you decide which expenses are not serving your purpose. For example, a person might discover that buying gas is often unnecessary if they can manage without a car most of the time. Or that mid-price brands and gently used items can be just as nice as luxury goods.

Set Limits and Delegate

A minimalist lifestyle is easier to control. Setting limits and delegating is one way to live a minimalist lifestyle because you have less to manage. For example, you might use an accountant to do your taxes, or hire someone to manage your website. You might have fewer screens or electronics or downsize to a smaller home.

Recommended: Does Net Worth Include Home Equity?

Honor Your Priorities

The goal of auditing your life is to establish priorities to eliminate what doesn’t align with them. Part of the journey to minimalism is learning to appreciate what you have and not constantly desire new things. Perhaps you and your partner decide to live on a single income while one of you cares for the family. You may also earn less and have to economize.

Minimalist Lifestyle Tips

How do you implement a minimalist lifestyle? Because the changes can be profound, try making small changes at first as you gradually adjust to a new mindset.

Recommended: What Is the 50-30-20 Budget?

1. Declutter Your Environment and Your Mind

A great place to start is to declutter your environment. Start with your home, your workspace, your car. Get rid of things you haven’t used in a while or that you are just hanging onto in case you need them. As the space around you becomes less messy, you might find your thinking becomes more clear.

2. Be a Purposeful Not Prolific Consumer

Minimalists still make purchases, but the emphasis is on quality rather than quantity. An example is choosing to use one credit card that serves many purposes rather than five because each one comes with different rewards. Yes, you may benefit from free miles and cash back, but you will also have to buy more to earn those points and rewards, which is consumerism, the antithesis of financial minimalism.

3. Digitize Movies and Books

Most of us have bookcases full of books that sit and gather dust. It’s fine to keep some treasured items and classic novels, but you can also download e-books or visit your local library. Declutter your home of old DVDs, CDs, and books you don’t need.

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4. Recycle and Reuse

Reusing shopping bags, refilling a water bottle instead of buying bottled water, or taking your own cup to Starbucks are ways to cut back on trash and single-use products. You’ll save money and help the environment.

5. Get Organized

As you declutter, you’ll find ways to be more organized. Find a space for things you want to keep, and use storage bins and organizers. When everything has a place, you’ll waste less time trying to locate things, and you’ll be more motivated to put things back when you’ve used them.

The Takeaway

A minimalist lifestyle is appealing, considering how busy and cluttered our lives can be. However, changing our mindset is difficult, and getting rid of things (both real and symbolic) we’ve held onto for years can be traumatic. Thankfully, you don’t have to embrace full-on minimalism immediately. You can take small steps to simplify your life gradually as you adapt to minimalist life.

Begin by establishing goals and priorities and by envisioning a less complex life. From there, move to decluttering your environment and organizing. You can also reduce your expenses and financial obligations and delegate tasks you don’t need to do yourself. As you progress, you may find that your mind clears, your life slows down, and you learn to appreciate what you have instead of yearning always to have more.

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FAQ

How do you live a minimalist lifestyle?

Living a minimalist lifestyle requires prioritizing and eliminating things that do not align with your values. The process of elimination will be different for everyone, but it does not have to be quick or painful. Just removing one thing or downloading a budgeting and money tracking app can help you achieve a simple minimalist lifestyle.

What is an example of a minimalist?

An example of a minimalist is someone who lives with very little furniture, or none at all, or someone who moves to a smaller home. A less extreme version of a minimalist might be someone who simplifies things by clearing items from countertops, buys few clothes, or chooses a vegan diet.

What is the 90 rule for minimalism?

The hardest part of achieving a simpler minimalist lifestyle is decluttering. How do you decide what to get rid of? The 90 rule can help. Choose a possession, and ask yourself if you’ve used that item in the past 90 days. If not, then it’s a candidate for elimination from your life because it is not currently serving a useful purpose.


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19 Jobs That Pay Daily

19 Jobs That Pay Daily

Workplaces typically pay employees once every other week (or just twice a month). But sometimes, you want to get your hands on cash more quickly. Fortunately, it’s possible to find jobs that pay daily, from babysitting to blogging to mowing lawns.

Some of these are true jobs that pay every day, while others are freelance gigs (commonly referred to as side hustles) that may pay invoices as you submit them. If you manage enough side hustles or have enough clients for a single side gig, you can stagger invoices so that payments are coming in every day — or at least multiple times a week.

If you are interested in bringing in income ASAP or often, this guide can help. Read on to learn:

•   The benefits of being paid daily

•   Jobs where you get paid daily

•   Tips for finding work that will pay you daily

Benefits of Being Paid Daily

What are the benefits of jobs that pay you daily?

•   Flexibility: Many of the daily paying jobs on this list allow you to make your own schedule. You can work longer hours if you want, but you also don’t have to worry about getting approved to take time off to go to the doctor or embark on a low-cost road trip with friends.

•   Faster payment: Some of the jobs that pay everyday listed are gigs that pay daily, meaning when you kick off your shoes at the end of the day, you’ll have more money in your wallet or checking account than when you started. Some of the other jobs involve invoicing when the work is done. If you have enough invoices being paid out from different clients for different work, you should have a steady stream of income flowing into your bank account regularly.

•   Work remotely: A lot of the daily paying jobs on this list allow you to work right from the comfort of your couch or a nearby cafe. Getting paid while wearing sweatpants and having your dog by your side can be a pretty sweet gig. It can also cut out transportation costs and make household chores like cooking and cleaning easier to manage.

Recommended: Highest Paying Jobs by State

19 Daily Paying Jobs

Are you looking for a daily flow of cash into your bank account? Here are 19 jobs that pay daily:

1. Waiting on Tables

Servers are tipped employees who earn a reduced minimum wage. When you work this way, you may still earn a regular paycheck with your hourly wage and any tips paid by debit or credit card. However, you are often able to pocket cash tips at the end of each shift. Other tipped workers, like hairdressers, manicurists, and bellhops, may also bring home money every day.

2. Collecting and Recycling Metal

If you have a truck or van, you can spend the day collecting scrap metal from construction sites, local businesses, and dump sites. You might be able to use resources like Craigslist or even social media to find scrap metal ready to be picked up.

Once you’ve gathered enough scrap metal, you can take it to a local recycler, who will typically pay you by the pound for quality materials.

Another angle on this is collecting recyclable bottles and cans and exchanging them for cash. This may be as simple as taking them to your local supermarket.

3. Babysitting

As a babysitter, you can set your own rates and hours and typically get paid at the end of a shift. While word of mouth is still a good strategy for finding clients, many people now use find babysitters digitally, like through Care.com, UrbanSitter, and Bambino; it’s a good idea to get vetted and have a profile on such platforms.

Bonus points if you are CPR- and first aid certified!

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4. Pet Sitting

Pet parents need a break too. Whether through word of mouth or through apps like Rover and Wag!, you can find people who need help with their pets while on vacation or even just during their days in the office.

In addition to pet sitting, you may be able to find clients who just want someone to walk their dogs during the day. With good word of mouth and some marketing, you may achieve an array of jobs that pay everyday.

5. Selling Your Photos

If you like to take photos, whether while traveling or just of everyday life, you might be able to make money from them. Uploading photos to a stock photography site means you’ll make money every time a person pays to use your photo.

If you’re a skilled photographer with professional equipment, you can make money on the side by taking family portraits or even photographing weddings.

6. Reselling

Another way to potentially be paid every day is by getting into reselling on sites like Amazon and eBay. But what is a reseller? As a reseller, you will buy products (ideally greatly discounted and in bulk), then list them for sale at a higher price online.

Becoming a successful reseller can require patience, hard work, and a lot of time at the post office. But once you have a process nailed down, it can be an easy way to get paid regularly.

Recommended: How to Turn Your Side Hustle Into a Full-Time Business

7. Crafting

Opening a shop on Etsy is a great way for hobbyists to make supplemental income from their crafts. Here, artisans can showcase and sell their work, from custom jewelry to knitted blankets to hand–carved signs. If your items are popular enough — and you can keep up with demand — it’s possible to make sales every day.

8. Renting Out Your Space

Have an extra bedroom in a location that tourists often visit? You might be able to list your space on Airbnb and VRBO. If you can attract guests every night, you could potentially get a payout every day.

9. Mowing Lawns

Offering to mow multiple neighbors’ lawns each week — and then staggering when you mow them — is a simple way to get paid every day of the week. While this can be an easy evening side gig after a full-time job, it also has the makings of a full-time hustle itself. If you have the right equipment and transportation, plus enough clients, you could launch your own lawn mowing company.

10. Ride Sharing

If you’re a safe driver with a decent car, you might have a future as a rideshare driver. While Lyft typically pays out each week (on Tuesdays), Uber allows drivers to opt in to Instant Pay — with up to five payments a day!

11. Delivery Driving

If you’d rather drive food than people, you’re in luck. Delivery drivers for services like Uber Eats, GrubHub, and DoorDash can all opt in to instant payouts. Getting paid instantly (as opposed to the services’ traditional payment timelines) may come with a fee, however.

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12. Doing Online Surveys

You can make money while sitting on the couch listening to music, simply by taking surveys. Popular paying survey sites include Swagbucks, InboxDollars, and LifePoints. Each survey may take several days to pay out, and you’re likely to just earn a few dollars a day. Still, every bit counts, and you can eventually get deposits each day by making surveys a daily habit.

Quick Money Tip: If you’re saving for a short-term goal — whether it’s a vacation, a wedding, or the down payment on a house — consider opening a high-yield savings account. The higher APY that you’ll earn will help your money grow faster, but the funds stay liquid, so they are easy to access when you reach your goal.

13. Participating in a Focus Group

Online surveys are an easy way to make money from home, but their payouts are low. You might be able to make more by participating in focus groups. Studies usually pay $50 to $200, but some might pay more than $1,000.

Recommended: Great Paying Careers Without a Degree

14. Being a Virtual Assistant

As a virtual assistant, you support businesses, typically working remotely rather than on-premises. You can work for multiple companies that need help with basic tasks, like scheduling, data entry, travel arrangement, and bookkeeping. Some companies may have more specific tasks, like managing their social media. The more skills you can offer, the more likely you are to land clients.

Sites like Indeed, LinkedIn, and Upwork are helpful for landing virtual assistant jobs. It’s a good idea to have an up-to-date LinkedIn profile and resume showcasing relevant experience.

15. Tutoring

Teaching online or in person is an easy way to earn money every day if you have deep knowledge on a topic and a knack for making things clear to others. Students may be looking for tutors for standardized tests or learning a musical instrument. Sometimes parents might just want a tutor to help a child improve in a certain school subject.

If you have a background in multiple subjects and a website or profile showcasing relevant certifications, you could potentially get enough students to earn money each day.

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16. Proofreading and Copy Editing

Having eagle eyes (and a degree in English) can qualify you to be a proofreader. Brushing up with well-known reference resources, like the Chicago Manual of Style or the Associated Press Stylebook, can help hone your skills.

You can find individual job postings online for one-off projects (like proofreading a novel) or recurring work with clients. Indeed, Fiverr, FlexJobs, and Upwork are good places to start. If you can get a few projects going, you may be able to get jobs that pay every day.

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17. Creating Content

If you are a strong writer, you might be able to find work as a freelance writer for news sites, blogs, or marketing clients. Having a portfolio that showcases existing work is usually the best way to get your foot in the door. Freelance writers are usually paid per word or per piece.

Another route to getting paid every day with your content: You can create your own personal blog and run ads on the site. You’ll earn money for pageviews, so getting traffic to your website is crucial. But don’t forget: There are also costs to run a blog.

Creating content means more than writing; it also means videos and podcasts. Many people make money off ads on their YouTube videos. And if you have enough followers on sites like Instagram or TikTok, brands may pay you to advertise their products.

Recommended: 39 Ways to Make Passive Income

18. Affiliate Marketing

Ads on your blog are a great way to make money off your writing, but you can also add in affiliate links to certain products that you review and recommend. If someone clicks on the link for a product you’re talking about and then buys that product, you can earn a commission.

Podcasters, vloggers, and social media influencers can also participate in affiliate marketing, often by giving fans a promo code. If you get traction with this, you could be getting paid daily.

Recommended: Jobs That Pay for Your Degree

19. Transcribing

Transcription jobs are an easy way to make money from home. If you have enough clients, you might be able to have money flowing in every day. Companies such as GoTranscript and Rev are helpful when you’re just starting out.

Tips for Finding Jobs That Pay Daily

Having a daily stream of income isn’t always easy. Here are some ways to achieve your goal of getting paid everyday:

•   Taking on multiple gigs: Wearing many hats means more opportunity for earning income. You might be a rideshare driver on weekends, take online surveys while binge watching Netflix in the evenings, transcribe during the workday, and write ad-supported blogs in your free time.

•   Staying organized: If you have multiple purchase orders, invoices, and clients to juggle, it’s a good idea to find an organizational method that works for you. Planners, spreadsheets, dry-erase boards, and sticky notes can all be effective ways to keep organized.

•   Persevering: You likely won’t immediately achieve a daily paycheck when starting your freelance lifestyle. Often, success means taking on whatever work you can, being proactive to find new gigs, and being willing to accept that you might not always get a paycheck at the end of each day — at least not at first!

Recommended: 25 Tax Deductions for Freelancers

The Takeaway

If you’re looking to get paid quickly, you have many options. Jobs that pay daily are often side hustles or freelance gigs by nature, but it’s possible to turn side hustles into full-time gigs that pay you every day. If you are willing to wear many hats and learn new skills, you may find great success working several jobs that pay you daily.

Have you launched one or more successful side hustles? Don’t let that hard work go to waste. Open a SoFi bank account. Our Checking and Savings account lets you budget, spend, and save in one convenient place, plus we offer a hyper competitive interest rate and no fees, which can help your money grow faster.

Better banking is here with SoFi, NerdWallet’s 2024 winner for Best Checking Account Overall.* Enjoy up to 4.50% APY on SoFi Checking and Savings.

FAQ

Is it better to be paid daily or biweekly?

Being paid daily means more immediate access to your funds, but it can sometimes be less predictable and involve smaller amounts of cash. If you prefer more predictable income for easier budgeting, you might prefer a biweekly paycheck.

Are daily paying jobs full-time?

Most daily paying jobs are a form of freelance or side hustle. However, many people are able to turn their freelance side gigs into full-time careers — for example as writers, photographers, marketers, and contractors.

Can I work multiple jobs that pay daily?

Many people with jobs that pay daily do work multiple gigs. Because some jobs may not actually pay every day, some workers will juggle multiple side hustles (like ridesharing, delivery services, and tutoring) to ensure a steady flow of paychecks.


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Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

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11 Ways to Make Money While Driving

11 Ways to Make Money While You Drive

If you’re like many people and are happy when driving, you may be able to use that everyday skill to make money. If you have access to a reliable vehicle and a valid license, there are numerous ways to earn money while driving, whether through ridesharing, delivering food, or being a tour guide.

Not only is this an easy way to bring in some cash, it can be a very flexible gig. You can set your own hours or get behind the wheel when your schedule allows.

Want to learn more about all the ways you can get paid for driving? Then read on, and get ready to start your engine. Here are 11 tips on how to make money while driving.

What to Consider Before Using Your Car to Make Money

Before you set out on your new road to passive income, it’s wise to make sure that driving to make money is right for you. There are risks and complications when using your personal vehicle that may outweigh the potential side hustle benefits you would reap.

Consider the following before embarking on using your car to make money:

•   Wear & tear on your car. Using your car to earn money while you drive can rack up a lot of miles. An uptick in use will put stress on your vehicle, leading to its overall depreciation and potentially more trips to the mechanic.

•   Age of your vehicle. The age of your car may impact your ability to earn money. For example, some rideshare companies require newer cars.

•   Car insurance. You will need proper insurance to cover yourself and possibly a passenger. There are usually specific insurance requirements to be eligible for ridesharing and other driving gigs, so scrutinize your policy to see how car insurance works for you in this situation.

•   Taxes. If you earn more than $400 while driving your car to make money, the IRS considers you an independent contractor. Along with a Form 1040, you’ll have to fill out a Schedule C form, or a Schedule C-EZ if you earn less than $5,000 a year. You’ll also be subject to the self-employment tax.

•   Cost of doing business. You’ll be responsible for gas, vehicle maintenance, and repairs. But as a self-employed worker, you’ll be able to write off those expenses and others, such as mileage, on your tax return.

Bottom line: Make sure you know what you and your car are getting into. You don’t want a scenario where you end up wasting money and your valuable time instead of earning more income.

Quick Money Tip:Typically, checking accounts don’t earn interest. However, some accounts will pay you a bit and help your money grow. An online bank account is more likely than brick-and-mortar to offer you the best rates.

11 Ways to Earn Money by Driving

How can I make money driving my own car?

The answer depends on where you live, the kind of car you own, other skills you may have, and your personal preferences. But whether you own your car or lease it, the opportunities are out there if you’re willing to grab them.

Here are 11 suggestions on how to make money by driving:

1. Ridesharing

If you’ve ever hopped in an Uber, then you likely understand what ridesharing is all about. A driver uses their car to pick up passengers on demand. This has become a popular way to earn money while driving in recent years. You can drive as suits your schedule, and rideshare companies such as Uber and Lyft strive to make the driver sign-up process as streamlined as possible.

If you have a good driving record, a flexible schedule, and newer 4-door vehicle, working for a rideshare app can potentially be a great source of extra income, especially if you’re willing to give up your Friday and Saturday nights to earn prime-hour cash. Your specific earnings will depend on how often you drive, when, and for how long, as well as where you are located. In New York City, a driver might make about $45,000 annually for full-time hours; $20 or more being the hourly rate.

Recommended: Leasing vs. Buying a Car: What’s Right for You?

2. Food Delivery Service

Another way you can be driving to make money: by delivering anything from a smoothie to Pad Thai and back again. When you sign up with food delivery apps such as Uber Eats, Seamless, and Grubhub, you’ll get notifications to pick up food from participating restaurants and drive them to hungry patrons. For every delivery, you’ll get paid.

DoorDash says their national average pay is $25 per hour, and Dashers (as they call them) also keep any tips.

3. Delivering Groceries

If you want to earn money driving without the smell of takeout in your car, consider delivering groceries instead of prepared meals. Apps such as Instacart rely on independent drivers to shop and deliver groceries to people’s homes.

Grocery deliverers can make between $10 and $25 an hour, depending on how busy the local area where you live is. Be sure and check for any requirements. For example, to work for Instacart, you need to be age 18 or older and able to lift at least 50 pounds.

4. Delivering Goods to Others

Food isn’t the only thing you can deliver to earn money while driving. There’s a whole world of goods out there that people want delivered. Apps such as Shipt work with drug stores and shops like Target and Bed,Bath & Beyond to get people what they need.

Looking for another idea? Amazon Flex allows independent drivers to deliver packages on their own schedules for an hourly wage. They do require you to have a mid-size, 4-door sedan or larger.

Recommended: 15 Low-Cost Side Hustles

5. Moving Large Items for Others

If you own a van, SUV or truck and can do some heavy lifting, you could use your vehicle and your strength to make big bucks by helping move items.

Maybe a recent grad can finally afford to move out from their parents’ place, or someone has just switched houses to be in a certain nearby school district. People like these often need help moving oversized items such as furniture or multiple heavy boxes a short distance.

You can check out websites like Taskrabbit or Craigslist to see if someone needs moving assistance, or register with an online service such as Dolly or GoShare that will connect you with clients.

6. Shuttling Children

With the proper qualifications, you can drive to make money by transporting children. Many working parents need help getting their kids to and from school or to their after-school activities. You can search Care.com or other childcare employment sites for part-time gigs, driving children where they need to be.

Companies such as HopSkipDrive work with school districts and independent drivers to solve child transportation issues. Most of these types of jobs require around five years of experience working with kids, in-person interviews, and background checks.

Recommended: 8 Great Flexible Part-time Jobs in 2022 for Gen Z and Millennials

7. Transporting Elderly People

Some seniors need help getting around town but prefer not to use rideshare services. Check with elder-care services in your community. They may need drivers to help get their clients to a store, an activity, or a doctor’s appointment.

You will likely need similar vetting to that mentioned for chauffeuring children.

8. Driving Tours

If you have the gift of gab and knowledge of your area, being a tour guide could be a fun way to make money while driving. You could register with online companies such as ToursByLocals and create a private driver profile to promote your insider savvy. This could involve showing tourists local highlights so they can take some photos for social media, or sharing hidden treasures that they might not otherwise learn about. It’s a win-win when you use your hometown smarts to boost your financial security.

9. Putting Advertising on Your Car

Here’s a passive income idea that works, though it’s not for everyone: Consider turning your car into a mobile billboard. Companies such as Wrapify and Carvertise will match you with a local advertising campaign and supply you with temporary “wraps” for your car that promote a product. Depending on where you drive and the size of your car, you could make between $50 and $300 a month.

Typically, these businesses want to wrap cars that are on the road and visible for much of the time. If you are doing deliveries by car, this might be a way to bring in more cash.

10. Renting Out Your Car

You can make money off your car without even driving it. Companies such as Turo and Getaround allow you to rent out your vehicle à la Airbnb. They will vet borrowers, cover insurance, and provide you with a device that allows renters to unlock your car without a key.

If you don’t want to do ridesharing, let others do it for you. Companies like HyreCar arrange to lend your car to other vetted drivers who want to earn money for Lyft or Uber. But to really make some dough, you would have to be willing to part with your vehicle often.

11. Being a Safe Driver

Here’s another way that driving can bring in some cash: If you are a safe driver, you may be eligible for a bit of money. For example, Allstate will reward you with a Safe Driving Bonus every six months if you don’t get in a fender-bender.

The State Farm insurance app will track your car to determine if you are driving safely — it monitors things like staying within the speed limit and coming to a complete stop versus a rolling one. You could get up to a 30% discount on your auto insurance.

Recommended: Guide to Practicing Financial Self-Care

The Takeaway

If you have a vehicle, you can make extra money. Signing up with the right apps and online services can get your car (and your new income stream) up and running. Whether it’s doing deliveries, transporting a sofa, or helping a person get to their destination, you can turn your vehicle (plus your driving skills) into a profit-mobile.

Better banking is here with SoFi, NerdWallet’s 2024 winner for Best Checking Account Overall.* Enjoy up to 4.50% APY on SoFi Checking and Savings.

FAQ

What are the pros of making money while driving?

By using your car to make money, you may be able to set your own hours and be your own boss. It’s also a pursuit that doesn’t require much specialized training. In many cases, you are using a skill you already have.

What are the cons of making money while driving?

Using your car to make money can place a lot of stress and miles on your vehicle. Gas and maintenance prices can really add up. Plus some pursuits, such as helping people move furniture, can be physically challenging.

Is making money with your car better as a side hustle?

Earnings from most car-driving gigs can be sporadic and unpredictable, unless you live in a major city with consistent high demand. For this reason, it may be best to have another form of steady income and drive for cash on the side.

How much can you potentially earn with your car?

How much you can make driving your car depends on the type of job and where you live. A New York City Uber driver can make around $25.91 per ride, while an Uber driver in Utah makes an average of $20 per ride.


Photo credit: iStock/Hispanolistic

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.

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SoFi members with direct deposit activity can earn 4.50% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. Direct Deposit means a recurring deposit of regular income to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government benefit payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Direct Deposit”) via the Automated Clearing House (“ACH”) Network during a 30-day Evaluation Period (as defined below). Deposits that are not from an employer or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g., IRS tax refunds), do not constitute Direct Deposit activity. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. SoFi members with direct deposit are eligible for other SoFi Plus benefits.

As an alternative to direct deposit, SoFi members with Qualifying Deposits can earn 4.50% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Qualifying Deposits means one or more deposits that, in the aggregate, are equal to or greater than $5,000 to an account holder’s SoFi Checking and Savings account (“Qualifying Deposits”) during a 30-day Evaluation Period (as defined below). Qualifying Deposits only include those deposits from the following eligible sources: (i) ACH transfers, (ii) inbound wire transfers, (iii) peer-to-peer transfers (i.e., external transfers from PayPal, Venmo, etc. and internal peer-to-peer transfers from a SoFi account belonging to another account holder), (iv) check deposits, (v) instant funding to your SoFi Bank Debit Card, (vi) push payments to your SoFi Bank Debit Card, and (vii) cash deposits. Qualifying Deposits do not include: (i) transfers between an account holder’s Checking account, Savings account, and/or Vaults; (ii) interest payments; (iii) bonuses issued by SoFi Bank or its affiliates; or (iv) credits, reversals, and refunds from SoFi Bank, N.A. (“SoFi Bank”) or from a merchant. SoFi members with Qualifying Deposits are not eligible for other SoFi Plus benefits.

SoFi Bank shall, in its sole discretion, assess each account holder’s Direct Deposit activity and Qualifying Deposits throughout each 30-Day Evaluation Period to determine the applicability of rates and may request additional documentation for verification of eligibility. The 30-Day Evaluation Period refers to the “Start Date” and “End Date” set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the “30-Day Evaluation Period”). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. Upon receiving a Direct Deposit or $5,000 in Qualifying Deposits to your account, you will begin earning 4.50% APY on savings balances (including Vaults) and 0.50% on checking balances on or before the following calendar day. You will continue to earn these APYs for (i) the remainder of the current 30-Day Evaluation Period and through the end of the subsequent 30-Day Evaluation Period and (ii) any following 30-day Evaluation Periods during which SoFi Bank determines you to have Direct Deposit activity or $5,000 in Qualifying Deposits without interruption.

SoFi Bank reserves the right to grant a grace period to account holders following a change in Direct Deposit activity or Qualifying Deposits activity before adjusting rates. If SoFi Bank grants you a grace period, the dates for such grace period will be reflected on the APY Details page of your account. If SoFi Bank determines that you did not have Direct Deposit activity or $5,000 in Qualifying Deposits during the current 30-day Evaluation Period and, if applicable, the grace period, then you will begin earning the rates earned by account holders without either Direct Deposit or Qualifying Deposits until you have Direct Deposit activity or $5,000 in Qualifying Deposits in a subsequent 30-Day Evaluation Period. For the avoidance of doubt, an account holder with both Direct Deposit activity and Qualifying Deposits will earn the rates earned by account holders with Direct Deposit.

Members without either Direct Deposit activity or Qualifying Deposits, as determined by SoFi Bank, during a 30-Day Evaluation Period and, if applicable, the grace period, will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances.

Interest rates are variable and subject to change at any time. These rates are current as of 8/27/2024. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.

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How Much Electrician School Costs and How to Pay for It

Paying for Electrician School and How Much It Costs

Becoming an electrician can lead to a fulfilling, rewarding, and high-paying career. However, electrician school costs up to $20,000, depending on the program.

Paying tuition costs up front may not be possible. To help manage this hefty electrician trade school price tag, there are a few different program and financing options to consider.

Key Points

•   Electrician school costs can range from $1,000 to $20,000, depending on the program and institution.

•   Typical programs at community colleges prepare students for apprenticeships and careers as electricians, usually taking one to two years to complete.

•   Courses in electrician school cover mathematics, electrical code standards, electrical theory, and practical skills like wiring and safety.

•   Hands-on practical experience is a significant component of the training, complementing classroom instruction.

•   Financial aid options for electrician school include federal grants, scholarships, work-study, and federal student loans, depending on the school’s eligibility.

How Much Does Electrician School Typically Cost?

A profession as an electrician is among the list of high-paying, no-degree jobs that can be a lucrative career. If you decide to enroll in electrician trade school to help you along your path to becoming an electrician, it can cost anywhere from $1,000 to $20,000 to complete the program. This might depend on the program you enroll in and the school you attend.

How Long Does Electrician School Take?

Community college electrician school programs prepare students for apprenticeship and a future career as an electrician. Typically, it takes one to two years to complete electrician trade school.

What Are Classes Like at Electrician School?

Although each program is different, generally, electrical school guides you through relevant mathematics, standardized electrical code, electrical theory, and fundamental techniques regarding wiring, safety, conduit bending, and other skills.

In addition to in-class knowledge, electrician school often includes hands-on practical application.

Can You Make Money As an Electrician While In School?

It might be challenging to secure paid electrician work, if you’re in the middle of electrician school. However, if you’ve been accepted into an electrical apprenticeship program, and are attending electrical school on the side, the apprenticeship often involves paid, hands-on learning opportunities and possibly health benefits.

Pros and Cons of Electrician School

If you’re unsure whether enrolling in electrician school is worth it, weigh the advantages and disadvantages of going this route.

Pros

Cons

Might be a fast way to get in the door toward an electrical career State might still require an apprenticeship program
Sets you apart when applying for apprenticeship Potentially high-cost and might incur student debt
Might count toward required apprenticeship hours Not an “earn as you learn” option

Financing Electrician School

Although you can choose to pay entirely out of pocket for electrician trade school costs, it’s not always feasible. Fortunately, there are a handful of ways to get your trade education financed — some of which must be repaid while others don’t need to be paid back.

Financial Aid

Future electricians attending an eligible trade school may be able to qualify for federal student aid including grants, scholarships, work-study, or federal student loans. Not all trade or vocational schools qualify for federal aid.

To find out if the program you are considering is eligible, take a look at the Federal School Code Search administered by the U.S. Department of Education. Another option is to check in with the financial aid office at the school.

To apply for federal financial aid, students will need to fill out the Free Application for Federal Student Aid (FAFSA®).

Grants

Federal grants, like the Pell Grant, are available to students who are pursuing a bachelor’s degree and demonstrate financial need. Pell Grants typically don’t need to be paid back, and offer awards up to $6,895 for the 2022-23 academic year.

Recommended: FAFSA vs. Pell Grants

Scholarships

Scholarships are another type of gift aid that doesn’t need to be repaid. They can be found through your state, local government, school, and nonprofit institutions. For example, the American Public Power Association offers lineworker and technical education scholarship awards of $2,000 to chosen recipients.

Employer Sponsoring

If you’re already employed, and want to enroll in an electrician school to enhance your job-related skills, ask your employer if it’s willing to sponsor your electrician school cost. Some companies offer this benefit as long as you successfully complete the program and agree to apply your training within the company for a certain number of years.

Federal Student Loans

Through the FAFSA, you can see if you’re eligible for subsidized or unsubsidized student loans. This type of aid must be paid back, plus interest at a fixed rate.

Private Student Loans

If the above financing sources aren’t an option and you need funds, private student loans may help pay for electrician trade school costs. Private student loans are offered by banks, credit unions, trade schools, and other financial institutions. Be aware that they typically don’t offer the same level of protections as federal student loans, such as extended forbearance or deferment options if you face financial hardship.

Recommended: Guide to Private Student Loans

How to Select an Electrician Training Program

Deciding how you want to pursue an electrician training program highly depends on the amount of time you’re willing to commit, and your preferred learning style. Below is an overview of the program options available.

Apprenticeship

Learning the electrical trade is commonly done through apprenticeship. This option is typically a four-year commitment with a mix of classroom and field training. This option lets you learn the hands-on skills and knowledge needed to become an electrician while earning a wage.

Certificate

Certification can take about 1 to 2 years to complete. You can enroll in an electrician certification program through a local community college or trade school. In some states, like California, an electrical certification might be required to perform work for contractors with a certain license class.

Associate Degree

An associates degree can offer more comprehensive education, though it’s not typically a requirement to be an electrician. Associate degrees might be offered through a trade school or community college, and can help boost applications for apprenticeship programs.

Bachelor’s Degree

If you’d like to pursue a bachelor’s degree as an electrician in a highly academic setting, a four-year program might make sense for you. Students typically enroll in programs, like electrical technology and learn about regulation, electrical theory, and more.

This option provides the greatest flexibility in terms of transferable courses for related industries, like electrical and/or systems engineering.

Military Training

Another way to obtain electrical school training is through the U.S. Armed Forces. By enlisting as a service member, you’ll first receive basic military training, and afterward, can receive electrical job training if you meet program requirements.

For example, the U.S. Army offers interior electrician job training for soldiers who complete 10 weeks of basic training, and seven weeks of Advanced Individual Training, and earn an ASVAB score of 93 in Electronics.

Electrician Job and Income Prospects

According to the U.S. Bureau of Labor Statistics, the job outlook for electricians from 2021-2031 is expected to grow at an average pace at 7% growth.

PayScale.com estimates that an electrician journeyman earns an average base salary of $61,886 per year, while a master electrician earns a higher salary at $73,334 per year. Salaries, however, depend on a variety of factors, such as skill certifications, years of experience, and location.

Alternatives to Becoming an Electrician

If after learning how much electrician trade school costs you feel it’s not the right profession for you, pursuing another trade or performing a hands-on field job might be of interest. Some alternative jobs include being a:

•   Construction laborer

•   Automotive service technician

•   Equipment operator

•   HVAC installer

•   Home inspector

•   Project manager

The Takeaway

Electrician school costs can range widely, from $1,000 to $20,000, depending on factors like the program, location, and more. Paying for electrician school costs can be an incredible investment for your career advancement and to enhance your technical knowledge, but it’s also a financial commitment.

If you’ve exhausted your financing options, and find that you need additional aid, a private student loan from SoFi might help (though SoFi’s student loans aren’t available for those attending trade school or community college). Undergraduate student loans may be available for those pursuing a four-year electrician degree.

Qualifying borrowers can secure competitive private student loan rates and SoFi loans have zero fees, and up to the total cost of your school’s certified cost of attendance. Plus, it only takes three minutes to check your rate online.

Cover up to 100% of school-certified costs including tuition, books, supplies, room and board, and transportation with a private student loan from SoFi.

FAQ

How long does electrician school take?

An electrician school program can take about four years to complete for an apprentice to acquire the training necessary to become a state-licensed Journeyman electrician who’s able to work unsupervised. However, this time frame varies, depending on the training path you decide to take and the licensing requirements of your state.

How much do the highest paid electricians make?

Master electricians are the highest level in the field and command an average base salary of $82,000 per year, according to PayScale data. Where you’re located and your years of experience impacts your earning potential.

What are the highest paid trade jobs in the U.S.?

A profession as an electrician makes up the top five highest-paid trade jobs in the U.S., along with licensed practical nurses, HVAC technicians, home inspectors, and plumbers.


Photo credit: iStock/Davizro

SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.


SoFi Private Student Loans
Please borrow responsibly. SoFi Private Student Loans are not a substitute for federal loans, grants, and work-study programs. You should exhaust all your federal student aid options before you consider any private loans, including ours. Read our FAQs. SoFi Private Student Loans are subject to program terms and restrictions, and applicants must meet SoFi’s eligibility and underwriting requirements. See SoFi.com/eligibility-criteria for more information. To view payment examples, click here. SoFi reserves the right to modify eligibility criteria at any time. This information is subject to change.


Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

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How Much a Commercial Driver’s License (CDL) Costs and How to Pay for It

How Much a Commercial Driver’s License (CDL) Costs and How to Pay for It

If the lure of the open road intrigues you and the idea of spending years in classrooms doesn’t, then becoming a commercial driver may be ideal for you. Before hitting the highway, you’ll need to secure a commercial driver’s license (CDL), which could cost between $3,000 to $10,000 depending on state fees.

This post shares ten ways on how to pay for CDL school, hopefully ones that are just right for you.

Typical Cost of Obtaining a CDL

CDL school costs can vary in part because of the school chosen — which can be private or public — and there may be other costs than what the school charges: application fees, road test fees, CDL skills test fees, and so forth. In general, figure $3,000 to $10,000 and check with your state’s Department of Motor Vehicles (DMV) to see what fees your particular state charges.

The CDL school price will likely account for most of the costs with the DMV able to fill in gaps in information for you. Note that publicly attended CDL schools will likely be cheaper but with potentially longer wait times.

Do You Have to Go to a School to Obtain Your CDL?

If you’re starting after February 7, 2022, then the answer is “yes,” you’ll need to pass minimum training standards to get your CDL license at a registered school or a place that provides the appropriate training. The Entry Level Driver Training (ELDT) is not retroactive, according to the Federal Motor Carrier Safety Administration FMCSA but holds true for those obtaining their CDL license for the first time. The FMCSA has created an online registry for schools and other training providers to list themselves and state that they meet training requirements, both federal and state.

How to Pay for CDL School

Fortunately, plenty of options exist, similar to paying for beauty school and other types of vocational training. To help, we’ve listed ten ways to pay for your CDL school costs and associated expenses.

1. Workforce Training Funding

The Workforce Innovation and Opportunity Act (WIOA) became law on July 22, 2014, and is designed to help job seekers get the education, training, support, and employment they need.The WIOA requires states to ensure that their workforce development programs are strategically aligned to meet the needs of workers. The WIOA is managed through the U.S. Department of Labor (DOL) in collaboration with numerous partners to get the necessary resources to states and local areas.

Plus, the FMCSA CDL Program Implementation Grant provides financial resources to states.

2. State CDL Training Grants

Each of the states in the United States and the District of Columbia can apply to the federal CDL implementation grant to get funding for relevant programs that assist in their CDL program. Contact the field office of your state or your specific state (links are included in the field office chart) to get information about what’s currently available to cover your CDL school price. Explain that you need financial assistance to get quality CDL training.

3. Local CDL Training Grants

You may find it easier to start your search by contacting a community college, library, or governmental agency in your city or county. You may get directed to state-level or other resources; what’s important is to start your search on how to pay for CDL school.

4. Scholarships

You may be able to find scholarships and grants to cover CDL school costs. As an industry site notes, the past few years have highlighted the importance of commercial truck drivers in our supply chain for food, medicines, and so forth. This adds to the demand for quality truck drivers that already existed before the Covid-19 pandemic hit. The result: perhaps more grants and scholarships are available to pay for CDL school costs.

5. Funding for Veterans

If you’re a veteran, you can use your GI benefits to pay the CDL school price. However, there are tax consequences that you’ll likely want to explore before making this move.

Plus, in a 2022 announcement by the U.S. Department of Transportation (DOT) ), the agency announced an award of $3.1 million to community colleges and training institutes. Funds are to be used to help current and former military personnel to get their CDLs. You can find a list of places that received funding and an associated dollar amount here .

6. Federal Student Loans

To qualify for federal loan funding, you must first fill out a Free Application for Federal Student Aid (FAFSA®). If a CDL school meets requirements, federal student loan aid may be available. Going this route will also let you know if you qualify for a Pell Grant based on your income; again, make sure that the CDL school is eligible to receive federal funding.

7. Private Student Loans

If grants, scholarships, and federal student loans don’t cover the CDL school costs, then explore private student loans. These loans are offered by banks, credit unions, and online lenders to pay for educational expenses. You’ll fill out an application and what you’ll receive typically depends on your credit score and income. Here’s more about what to know about private student loans. You may also find valuable information in our resource about private student loans for undergrads.

8. Trucking Company Tuition Reimbursement

This is when a trucking carrier pays part to all of your CDL school costs. They may do this if, for example, you’re a current employee in another capacity. Or trucking companies may take this route to encourage someone to join their company.

9. Savings

You may discover that you have enough money in your savings account to pay the CDL. Or you may create or continue a savings plan to accrue enough funds to pay for your training. That way, there’s no loans to pay back.

10. Company Sponsored CDL Training

A company in need of drivers may be offering a training program. Just ensure that the program, which is run by the trucking company itself, instead of a training school, is quality. Typically, you’ll need to work for the company offering the training for a certain amount of time; this can be good if you’re looking for a job, eliminating the stress of the job hunt that may follow the completion of a CDL program.

The Takeaway

You may decide that becoming a commercial truck driver is a good way to earn income. If so, you’re probably wondering how to pay for CDL school — and this post shares ten potential ways. If you decide that private student loans are a useful part of the mixture, here’s more information about applying for student loans online.

Community college and other certificate programs aren’t eligible for SoFi’s private student loans. If you’re heading back to school after getting your CDL and are interested in private student loans, consider SoFi’s no fee private student loans. These loans can be used to cover your costs of tuition, books, supplies, and more so you can get on the road as a fully licensed commercial truck driver.

Cover up to 100% of school-certified costs including tuition, books, supplies, room and board, and transportation with a private student loan from SoFi.

FAQ

Can you get your CDL without going to school?

As of February 7, 2022, new trainees in a CDL program must attend classes to meet minimum requirements. This post focuses on finding ways to help you pay for CDL school.

Do some trucking companies pay for your CDL training?

Yes, some are willing to help! Reach out to trucking carriers for specifics.

How much does getting your CDL cost?

In general, it costs anywhere between $3,000 and $10,000 to get your CDL. Check your school of interest to make sure it’s a quality program and ask what it costs. Also check with your state’s DMV to see what other fees may be involved.


Photo credit: iStock/FG Trade

SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.


SoFi Private Student Loans
Please borrow responsibly. SoFi Private Student Loans are not a substitute for federal loans, grants, and work-study programs. You should exhaust all your federal student aid options before you consider any private loans, including ours. Read our FAQs. SoFi Private Student Loans are subject to program terms and restrictions, and applicants must meet SoFi’s eligibility and underwriting requirements. See SoFi.com/eligibility-criteria for more information. To view payment examples, click here. SoFi reserves the right to modify eligibility criteria at any time. This information is subject to change.


External Websites: The information and analysis provided through hyperlinks to third-party websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are provided for informational purposes and should not be viewed as an endorsement.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

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