When setting income goals, some people use a six-figure salary as a benchmark. But what does it represent exactly? And how do six-figure earners get to that level?
We’ll dig into the legend surrounding the six-figure salary, and whether you need one to build wealth.
• A six-figure salary refers to an annual income of at least $100,000.
• It is often associated with higher-paying professions and can provide financial stability and opportunities.
• Earning a six-figure salary requires education, skills, experience, and sometimes additional certifications or advanced degrees.
• Factors such as location, industry, and job demand can impact the availability of six-figure salary opportunities.
• It is important to consider the cost of living, taxes, and personal financial goals when evaluating the benefits of a six-figure salary.
How Much Is a Six Figure Salary?
“Six figures” simply refers to a number with six digits. Typically used with money, the term covers amounts from $100,000 to $999,999. (Once you hit 1 million, you’re in seven-figure territory.) Someone with a six-figure salary makes at least $100K.
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There is no one right way to earn six figures. That said, there are strategies that can better position you for this level of income. Getting a good education, while not absolutely necessary, is a solid foundation for the kinds of jobs that pay in the six-figure range. Another path is to start your own business.
The Bureau of Labor Statistics (BLS) lists 159 occupations with median salaries of at least $80,000. The degrees required for these jobs range from a high school diploma to a doctoral degree.
It’s important to recognize that certain careers just pay more than others. Once you’ve chosen a high paying field, you can determine the type of education and training you’ll need to pursue.
You’ll also want to learn how to manage and grow your money. A good place to start is by tracking your expenses and savings with a free spending app.
According to the U.S Census Bureau, about 15% of households earn between $100,000 and $149,000. Another 8% earn between $150,000 and $199,000. And 10% earn $200,000 or more. Note that this is household income, not individual. Compare those figures to the national average salary of $60,575.
Some workers begin earning six figures in their twenties and thirties. Economists nickname them HENRYs, for “high earners, not rich yet.” But for most people, their “peak earning years” are from age 35 to 54. The majority of people who make six figures will do so in their 30s.
Keep in mind that annual income says nothing about someone’s financial health. An individual making $50K who manages their money well can be in a better place financially than someone making six figures.
A look at the highest paying jobs by state offers insight into these types of careers. All these jobs make at least $200,000, and all but one are in the medical field. Texas is an outlier. There, chief executives, the highest paying job in the Lone Star State, earn $239,060 on average.
Other types of jobs that can pay a six figure salary include airline pilots ($174,001), IT managers ($136,745), and lawyers ($101,790). A construction project manager earns about $113,257, while a college development officer makes $163,600. It’s probably fair to say that, in any industry, there are successful bosses who make six figures.
What a six figure salary will get you depends on several other factors. A big one is the cost of living in your area. This is how much you spend on housing, transportation, food, and other necessities. When someone lives in a place with a high cost of living, they will typically have less disposable income and less to put into savings than someone who lives in a low cost-of-living location. This can be true even if both are making competitive salaries.
Another factor is household size. For a single person living in California, a six figure salary might be more than enough. However, a family of four living in the same area could be just scraping by.
Not by a long shot. That said, you need to have a reasonable income to live on. For example, a $20,000 salary typically isn’t enough for a household to meet basic expenses. Let’s look at rent. The 30% rule recommends spending no more than $6,000 on rent per year (that’s 30% of $20K), which works out to $500 a month. The average rent nationwide is now $2,000, four times what you could afford on a $20,000 salary.
What about a $40,000 salary? This may be enough for a single person in some areas, but probably not for a family. And while an individual could afford basic necessities, they may not have much left for building wealth — that is, saving and investing.
The income needed to build wealth then is an amount that covers the cost of living in your location, allows you to pay off any debt, and provides enough extra to set aside money for an emergency fund, retirement, and investing.
How to Build Wealth Without Earning a Six Figure Salary
As we hinted above, the steps to building wealth are the same for any salary. First, pay off your debt, especially high interest credit cards and loans. Money going to interest is money that could be going into your savings or investments.
Second, look for ways to cut back on spending: cooking at home instead of going to costly restaurants, closing fee-based apps that you don’t really need, and so on.
Finally, save and invest the money that isn’t going to credit card debt or other nice-to-have but not necessary expenses.
A six figure salary, meaning one between $100,000 and $999,999, is a benchmark for many people who want to meet financial goals. Having a good education is usually helpful but not always necessary, and certain jobs are more likely to come with six figure salaries. Having a good salary is helpful when building wealth, but the same strategies can be utilized on a five figure salary. Tracking your spending and automating your savings are two good first steps.
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FAQ
Is a six figure salary good?
In most places in the United States, $100,000 is a good salary, covering the needs of an individual or small family, while building savings.
What does a six figure salary mean?
This is a salary that contains six digits: from $100,000 to $999,999.
What is an eight figure salary?
This is a salary amount consisting of eight digits: from $10 million annually to $99 million.
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An apprenticeship program pairs paid on-the-job training with classroom instruction to produce skilled workers, who get a foot in the door of their preferred field without going to college for four or more years.
Nearly 600,000 apprentices were taking part in 27,300 registered apprenticeship programs in 2022, according to the U.S. Department of Labor’s Office of Apprenticeship.
Here are details about finding an apprenticeship, how much you might earn, the commitment required, and more.
Apprenticeship 101
An apprenticeship is a way to acquire hands-on training, work experience, classroom instruction, and mentorship in a particular trade. Not only is an apprenticeship paid, but it’s also a doorway to a stable and in-demand job.
Most apprentices are promoted or receive a raise during their apprenticeship. The average salary is $77,000, the Department of Labor says.
Apprentices receive a nationally recognized credential in their industry upon completion of the program, and may even earn academic credit toward a college degree. Ninety-three percent who cross the finish line retain employment, according to the Labor Department.
There are several places to look for an apprenticeship. You can use the federal agency’s Apprenticeship Finder to search by keyword and location, contact your state’s apprenticeship agency, check out trade or labor unions in your area, or use traditional job search engines. If you need more guidance, find an American Job Center near you.
The majority of apprenticeships are registered either with the Department of Labor or a state apprenticeship agency. Upon entering a program, apprentices receive training under the guidance of an experienced mentor. Many are also required to take academic courses related to that career.
The eligible starting age is 16, but some occupations require apprentices to be at least 18. Some apprentices may also have the option to enter a pre-apprenticeship program, which aims to better prepare workers for the apprenticeship program.
Upon completion of the program, a nationally recognized credential, certificate, or degree is awarded.
How Long Does an Apprenticeship Last?
An apprenticeship program usually lasts four years. Some take as little as one year, and some, as many as six. Whatever the length, apprentices must complete at least 2,000 hours of on-the-job learning plus 144 hours of classroom work.
How Much Do Apprentices Make?
During training, apprentices earn about $17 to $21 per hour, but pay varies by location. Raises are given when new skills are learned.
Do You Have to Pay for an Apprenticeship?
Apprenticeship training is typically offered by the employer at no cost to the apprentice, but apprentices may need to cover certain expenses, such as tools or educational materials.
Employers may pay for the instruction but specify that if an apprentice leaves the program before completion, related costs must be paid back to the employer.
What Types of Careers Offer Apprenticeships?
If construction jobs come to mind when you think of apprenticeships, that’s logical. Many apprenticeships are in the construction trades, but not all are.
Here’s a sample of jobs and the number of active, registered apprentices in 2022.
Occupation
Active apprentices in 2022
Median annual wage*
Electrical power line installers and repairers
15,249
$78,310
Heavy truck and tractor-trailer truck drivers
9,944
$48,310
Heating, AC, and refrigeration mechanics and installers
8,535
$48,630
Nursing assistants
4,033
$30,310
Firefighters
2,306
$50,700
Registered nurses
2,281
$77,600
Food service managers
1,820
$59,440
Barbers and hairstylists
1,751
$29,680
Software developers
1,219
$120,730
*2021 Bureau of Labor Statistics wage data for the occupation as a whole
What About College or Trade School?
Alternatives to apprenticeships include attending a four-year college or a trade school. There, you’ll be provided with a broader set of knowledge along with the key skills required for your area of study.
Trade school costs less than college but still can cost thousands of dollars a semester. As an apprentice you can learn to do something you enjoy while getting paid. What’s the catch? Trade school degrees often take about two years to complete. Many apprenticeships last longer, and even getting one can be tough.
Then there’s the traditional college route. But is college worth it?
More than half of college students take out student loans, usually federal student loans but in some cases private student loans. The average borrower leaves school owing nearly $29,000.
Yet the return on investment may appear only after 10 or more years. The ROI for a bachelor’s degree is 38% after 20 years on average, according to the Education Data Initiative.
Major U.S. companies have vowed to change their hiring habits by offering career paths to people without four-year college degrees. Almost two-thirds of U.S. workers do not have a bachelor’s degree, and job screening by college degree hits minorities especially hard. But change has been slow in coming. A bachelor’s degree remains the standard in many cases.
Beyond the cost of college tuition, whether you choose an apprenticeship or a degree, you’ll need to evaluate salary and career potential using either path to find the one that’s right for you.
Student Loans, Grants, and Scholarships
Whether you choose trade school, college, or an apprenticeship with a community college component, you might need financial aid in the form of grants, or scholarships (try this scholarship search tool), federal student loans, federal work-study, or private student loans.
Private student loans can be helpful, but because they lack the benefits and borrower protections available with federal student loans, they are intended to fill in gaps after other funding sources have been spoken for.
Apprentices in a credit-bearing college program who qualify can receive federal Pell Grants.
Here’s a snapshot of the upsides and potential downsides of apprenticeships.
Pros
Cons
Apprentices can earn a salary while avoiding big student debt.
An apprentice will typically start with a relatively low salary.
Apprentices build new skills through hands-on experience and classroom instruction, and may even earn credit toward a college degree.
The competition to get an apprenticeship can be fierce, especially in high-paying fields.
It can open the door to a well-paid career.
Many occupations still require at least a bachelor’s degree, particularly in the medical and science fields.
Apprenticeship vs Internship
Both apprenticeships and internships aim to help you gain expertise with hands-on training in a certain industry, but several differences should be noted. Here are some of the most common ones.
• Duration: Internships typically last only one to three months, while an apprenticeship can last up to six years.
• Pay: Apprentices receive at least the minimum wage specified by the Fair Labor Standards Act for hours on the job. Wage increases are earned as the apprentice gains and uses skills while working for the employer. Internships are usually unpaid, temporary positions.
• Structure: Apprenticeships have a structured training plan and prepare an apprentice to fill an occupation within the organization. Internships aren’t always structured and only prepare interns through entry-level work.
• Mentorship: Apprentices work with an experienced mentor. Internships don’t always include mentorship.
• Credential: After completing an apprenticeship program, nationally accredited certification is awarded. Interns generally don’t receive any type of credential.
• Job opportunities: Interns are usually in college and get an opportunity for career exploration and skill development. An apprenticeship provides in-depth training, and apprentices can potentially transition into the same role after completing the program and earn a higher salary.
The Takeaway
An apprenticeship can be an excellent way to gain access to a company or a field you wish to work in without going the traditional college route. They aren’t for everyone, though; nor are they available in every field.
If you decide to pursue a bachelor’s or graduate degree and find that you could use some extra help, a SoFi Private Student Loan could be a lifeline. The loans come with no fees and can cover up to 100% of school-certified costs.
Find the right student loan to get your career on track.
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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.
When applying for financial aid to fund their college educations, students and their parents are often introduced to words they’d never heard of before. To help you learn the lingo, here are definitions of 14 important financial aid terms, plus information about different ways to pay for college.
Financial Aid Terminology for Parents
1. College Grants
Grants are used to help fund a qualifying student’s college education, and unlike loans, they typically don’t need to be paid back. They are often based on financial need and are available from private and public organizations. Some grants have criteria that a student must meet, such as maintaining a certain grade point average. Here is information about college grants from the U.S. Department of Education .
2. Cost of Attendance (COA)
A student’s cost of attendance (COA) is the total of all costs to attend college in a given year. This includes tuition, room and board, book and supplies, loan fees, costs associated with studying abroad or managing a disability, and more.
A COA is different from an invoice a college may send a student, which is more comprehensive. The COA figure is used to determine how much financial aid a student may be eligible to receive. Anyone who receives a form of financial assistance is not responsible for paying the full COA.
3. Expected Family Contribution (EFC)
The expected family contribution (EFC) is a number colleges use to determine a student’s eligibility for financial aid. It’s calculated using a formula that considers a family’s income, savings, investments, benefits, family size, and more.
Starting with the 2024-2025 school year, the EFC will be replaced by the Student Aid Index, or SAI. Both serve a similar function, but there are key differences in how they work and how students receive financial assistance. Here’s where you can find more information about the SAI.
4. Free Application for Federal Student Aid (FAFSA)
FAFSA is the official government form that students must fill out to be eligible for federal student loans and grants. Filling the FAFSA out does not guarantee that a student will receive aid, but it must be completed annually in order to be considered for the upcoming academic year. The information provided will be used to calculate a student’s expected family contribution (see that definition above). Here’s more information about completing a FAFSA application.
5. Financial Aid Award Letter
A financial aid award letter goes by a few different names: merit letter, award letter, a financial aid offer or a financial aid package. But no matter what you call it, once a student fills out a FAFSA, they’ll receive one of these letters from each college that accepts them. A typical letter will list a student’s cost of attendance, expected family contribution, awarded grants and scholarships, work-study details, and federal student loans. Many schools now provide this information electronically.
6. Merit-Based Assistance
Merit-based assistance is based upon a student’s abilities and accomplishments. This can include their grade point average, athletic achievements, or another skill. Financial need is not typically taken into account. Students generally receive merit-based aid directly from the college.
7. Need-Based Assistance
Need-based assistance is provided to students based on their financial needs, and is commonly offered by federal and state governments, colleges, and other organizations. There are three types of federally granted need-based financial aid: Pell Grants, work-study programs, and Subsidized Direct Student Loans. Each of these is defined in this post.
To qualify for federal need-based aid, a student must fill out the FAFSA. Colleges may require additional information for non-federal aid. Simply applying for need-based aid does not mean a student will receive it, though applying early may potentially improve their chances.
8. Parent Loans/Direct PLUS Loans
Parents can borrow funds to help their children pay their college expenses, including through federal loans called Direct PLUS Loans. When this type of loan is provided to a parent borrower, it’s often called a Parent PLUS Loan. Not all schools participate in the Direct Loan Program, so students should check with their colleges of choice to see if this type of funding is an option. Private parent loans are also available through lenders, including SoFi.
Note that graduate or professional students are also eligible to borrow Direct PLUS Loans.
9. Pell Grants
A Pell Grant is a federal form of aid based solely on need. It’s the biggest source of federal grants. To receive these funds, a student must fill out the FAFSA and meet eligibility requirements. Because this is a grant and not a loan, it typically does not need to be repaid.
10. Scholarships
A scholarship is a type of funding awarded to students to help them pay for a college education. They are available through federal and state government sources, colleges, private and public organizations, and more.
Unlike loans, scholarships typically don’t need to be repaid. They can be based on need or merit, or a combination of the two. There is a wide range of scholarship possibilities, so it can be worthwhile for the student to research their options and apply for ones that seem to be a good match.
After a student completes their FAFSA, they’ll receive a student aid report (SAR). This report provides basic information about the student’s federal student loan eligibility and includes the answers they provided on the FAFSA application. The SAR also contains the Expected Family Contribution (EFC) and a four-digit Data Release Number (DRN), which students may need to provide when changing information on their FAFSA. It’s important to review the entire report and address any errors, as colleges use that information to determine aid eligibility.
Subsidized loans are reserved for undergraduate students with demonstrated financial need. The school determines the amount available for each qualifying student. The government will pay the interest on a subsidized loan as long as the student is enrolled in school at least half time (generally 6 credit hours per semester), for six months after the student leaves school (called the “grace period”), and during deferment periods.
With unsubsidized loans, students do not need to demonstrate financial need to qualify, and both undergraduate and graduate students are eligible. Loan limits are higher than with subsidized loans, but interest rates are generally higher, too. The borrower is responsible for interest that accrues from the day their funds are made available. If a student chooses not to pay the interest while they’re in school, it will continue to accumulate.
13. Work-Study
The federal government’s work-study program provides college students who have demonstrable financial need with part-time jobs to help them earn money for their college education. The program attempts to match a student with work in their area of study or in jobs that benefit the community. Students who are interested in this program should check with their colleges of choice to see if they participate.
When it comes to planning how to pay for college, it helps to understand all the available options and how they may be combined. Students and their parents may have money to contribute to help cover the expenses. Scholarships and grants can reduce the bill and typically don’t need to be paid back, while work-study opportunities allow students to earn money to cover some expenses while in college.
Subsidized loans give qualifying students some time to establish themselves financially before the debt starts accruing interest they’ll have to pay. Meanwhile, unsubsidized or private student loans can help borrowers cover remaining costs.
Private student loans, including those from SoFi, can come in handy once you’ve exhausted your other loan options. Borrowers can use the funds to cover all school-certified costs, including tuition, books, room and board, transportation, and more.
SoFi offers fee-free private student loans for undergraduates, graduate students and their parents. These loans don’t have any fees, and borrowers can choose between four different repayment plans. When applying for a SoFi loan, students can quickly and easily find out if they prequalify and at what rates. Adding a cosigner is also simple — just a few clicks away.
SoFi private student loans offer competitive interest rates for qualifying borrowers, flexible repayment plans, and no fees.
FAQ
What is a cosigner?
A cosigner helps assure lenders that someone will pay back the loan. Their income and financial history are factored into the loan decision, and their positive credit standing can benefit the student’s loan application.
What’s the difference between a student loan lender and a student loan servicer?
Lenders lend borrowers money to help cover school-related costs. Servicers send borrowers their monthly bill, process payments, field customer service requests, and handle other administrative tasks.
How do I calculate my college costs?
There are several online tools to help students estimate the potential cost of attending college. Net price calculators, for instance, are available on a school’s website and give cost estimates based on basic personal and financial information provided by the student.
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.
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.
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.
Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.
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.
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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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.
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.
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.
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.
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.
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.
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.
SoFi’s money tracker app simplifies and manages all of your finances in one place and at no cost. Get credit score monitoring, spending breakdowns, financial insights, and 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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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.
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!
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.
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.
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.
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.
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.
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.
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!
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 4.00% 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.
Photo credit: iStock/SDI Productions
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.
SoFi members with direct deposit activity can earn 4.00% 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 4.00% 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 4.00% 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.
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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 12/3/24. There is no minimum balance requirement. Additional information can be found at https://www.sofi.com/legal/banking-rate-sheet.
