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There are many different types of college financial aid available to college-bound students, with student loans being an option that many students consider. Roughly 46 million students have federal student loan debt.

Students who need additional financial aid can choose between federal student loans or private student loans. However, there are many benefits of federal student loans that private loans don’t always guarantee.

10 Benefits of Federal Student Loans

1. No Credit History Is Required

A significant advantage of federal student loans is that many government-owned student loans don’t require a credit history or credit check. The only federal student loan that requires a credit check to determine eligibility is a Direct PLUS Loan.

To see if you’re eligible for federal student loans, you’ll need to submit a completed Free Application for Federal Student Aid (FAFSA®).

Recommended: How Credit History can Impact Student Loans

2. No Cosigner Required

Private student loan lenders might require a cosigner for student borrowers who don’t have a credit history or credit score. However, students who haven’t established their credit are still eligible to apply for a federal loan without a cosigner.

Having no cosigner requirement is an additional step to lending that federal student loan borrowers can avoid.

3. Fixed Interest Rates

Fixed interest rates are among the notable benefits of student loans owned by the Department of Education.

Generally, private student loans allow borrowers to choose between fixed or variable interest rates. A fixed rate doesn’t increase or decrease throughout the loan term, making monthly payment amounts easier to anticipate.

Variable student loan rates can be advantageous during a low-rate environment, but borrowers risk their interest rate changing at any point during the repayment term. This variable feature can make it more challenging to predict how much money to budget toward monthly payments during repayment.

4. Low Interest Rates

A higher interest rate increases how much you’ll pay toward your college education overall. Generally, federal student loan rates are lower than private student loans or when using high-interest credit cards to pay for college expenses.

5. Interest Doesn’t Accrue During College

Federal Direct Subsidized Loans are designed so that borrowers aren’t responsible for paying back interest that accrues while in school.

Interest that accrues on loans from this federal program is paid by the government while the student is enrolled at an eligible school at least half-time. When you leave school, any interest that accrues on Direct Subsidized Loans is the borrower’s responsibility to repay. Students who borrow Direct Unsubsidized Loans or PLUS Loans are responsible for repaying interest that accrues while they are in school. Subsidized federal loans are only available to undergraduates.

6. Forbearance and Deferment Options

Some private loan lenders offer forbearance and deferment options to borrowers who need to temporarily pause their student debt repayment. However, these options vary between lenders and some might not offer forbearance and deferment at all.

An advantage of federal student loans is that they offer extensive forbearance and deferment options for different situations. For example, eligible borrowers can request deferment while undergoing cancer treatment, during economic hardship, while enrolled in school, during unemployment, and more.

Federal student loans offer general or mandatory forbearance, depending on your situation. Borrowers who are eligible for forbearance can request it if they need to pause or reduce their monthly payment for a short period.

7. Repayment Grace Period

Another benefit of federal student loans is that they come with an automatic six-month grace period. The grace period kicks in when the student graduates, leaves school, or drops below half-time enrollment.

This time frame gives federal loan borrowers additional time to get their financial situation ready, like securing an income or a job, in preparation for repayment.

8. Income-Driven Repayment Options

Borrowers who are unable to afford their monthly student loan payment may be able to enroll in an income-driven repayment plan.

Income-driven repayment plans offer 20- or 25-year terms. Payment amounts are limited to 10% to 15% of a borrower’s discretionary income. Depending on a borrower’s situation, their payments might be as low as $0 per month.

9. Student Loans Can Be Discharged

Borrowers of federal student loans might not be required to repay their federal loans in certain circumstances. A federal loan discharge might apply when:

•   The school closes while the borrower is enrolled.

•   A borrower experiences total and permanent disability.

•   The borrower dies.

•   The borrower of a Perkins Loan works as a teacher or other eligible professional.

•   The borrower’s school affected the loan or the borrower’s education in some way.

•   A school falsely certifies the borrower’s loan eligibility.

•   The borrower who has withdrawn from school doesn’t receive a refund of the student loan funds from their servicer.

10. Student Loan Forgiveness

Access to student loan forgiveness is another advantage of federal student loans. Unlike student loan discharge which requires borrowers to have experienced an extraneous situation to qualify, student loan forgiveness is more accessible to borrowers.

The Department of Education offers loan forgiveness through Public Service Loan Forgiveness (PSLF), Teacher Loan Forgiveness, and loan forgiveness under an income-driven repayment plan.

For example, PSLF requires participants with Direct Loans to make 120 qualifying monthly payments under an income-driven repayment plan. Borrowers must be working full-time at a qualifying employer. Qualifying employers include nonprofit organizations or government entities during the time the required payments were made.

After the required payments are made, their remaining Direct Loan balance can be forgiven. Note that the forgiven balance may be considered taxable income by the IRS  under certain situations.

Alternatives to Student Loans

Although federal loans offer borrowers many benefits, there are limits that mean not all students are able to finance their education entirely with student loans. Student loans are one type of financial aid, but there are other ways students can finance their education. These include:

Grants

Grants can be need- or merit-based. They’re provided through the federal or state government, by the student’s school, or via third-party organizations. Pell Grants and Teacher Education Assistance for College and Higher Education (TEACH) Grants are a couple types of federal grants.

Unlike student loans, recipients aren’t generally required to pay back grants for college.

Scholarships

Scholarships, like grants, aren’t repaid by the student after leaving school. Scholarships can be found through schools, private and nonprofit organizations, community groups, employers, and professional associations.

This aid option might be available based on students’ merit or need.

Private Student Loans

Federal student loans offer many benefits, but as briefly mentioned, there are annual and aggregate borrowing limits. For students who either don’t qualify for federal loans or have reached the maximum limit, applying for private student loans is another option.

Private student loans are available from state organizations, banks, credit unions, and online lenders. Borrowers must have qualifying credit, and loan features and terms of private student loans vary by lender. Again, it’s important to note that private student loans are not required to offer the same borrower benefits as federal student loans.

The Takeaway

Federal student loans offer a variety of borrower benefits, including no credit score requirements, fixed interest rates, and deferment and forbearance options for borrowers who face financial difficulty during repayment. However, students may need to rely on a variety of different finding sources to pay for college.

If you’ve exhausted all federal student aid options, no-fee private student loans from SoFi can help you pay for school. The online application process is easy, and you can see rates and terms in just minutes. Repayment plans are flexible, so you can find an option that works for your financial plan and budget.

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

What is the average student loan debt amount?

In 2024, the Education Data Initiative reported that the average student loan debt is just over $40,000. This includes both federal and private student loans.

Are student loans bad for your credit score?

Borrowers’ student loan payment status is reported to credit bureaus. Student loans can be advantageous toward building a credit history when payments are made on-time and in full.
However, making late payments or missing payments can adversely affect a borrower’s credit score.

What are the key advantages of federal over private student loans?

There are numerous benefits of student loans from the federal government compared to private student loans. The main advantage is that federal loans offer multiple repayment options, including income-driven plans that can bring monthly payments as low as $0, and most federal student loans do not have a credit score or credit history requirement.

Additionally, federal borrowers receive automatic deferment during school, and an automatic grace period after leaving school.

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Photo credit: iStock/AndreaObzerova

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.

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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.

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.

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

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Too often, free time winds up costing us money, whether that means going to the movies, hitting the mall, or paying for an in-demand yoga class. But the truth is, passing time outside of work doesn’t have to be expensive.

Having hobbies can be a smart, creative, and moneywise way to fill your free time. The best endeavors are those that ignite a real passion and that we can’t wait to pursue. And there are numerous hobbies that don’t require investing a lot of money in equipment, materials, or training to get started.

Here, we have compiled a list of 19 fun, fulfilling pursuits that are also typically very affordable.There’s every chance that you will find at least a couple of these inexpensive hobbies to pique your interest.

Questions to Ask Before Starting a Hobby

Before you begin a new hobby, you may want to ask yourself the following questions.

What Is the Cost of the Hobby?

There are many inexpensive hobbies to choose from, so a good place to start is by making a list of the hobbies that spark your interest. From there, you can do some research to determine what the cost of the hobby is and if it fits into your budget (or if you need to pursue a less expensive pastime for now). Something with very specialized instruction, like making gold jewelry or blowing glass, is likely to push your budget limits. You might want to aim for more accessible pursuits to start.

💡 Quick Tip: Help your money earn more money! Opening a bank account online often gets you higher-than-average rates.

Is This Hobby Worth It?

No matter what the price tag of the hobby is, it can be helpful to think about whether or not the costs associated with the hobby are worth the enrichment and enjoyment the pursuit can bring to your life. Some hobbies may cost more, but may also give a higher return on investment if they offer an incredible experience and turbocharge your mood.

What Are the Benefits?

While most hobbies are fun, they can also bring a lot more to the table than just a good time. When evaluating hobbies, it can be helpful to think of what other benefits are associated with them. For example, a fitness-based pursuit is good for your health. Gardening can be a terrific way to connect with nature and clear your head. And a creative endeavor, like painting or photography, can wind up turning into a part-time job or lucrative side hustle.

Could This Hobby Be Cheaper?

If you are considering a hobby and are concerned about cost, you don’t necessarily have to limit yourself only to what would be classified as a cheap pastime. You might instead dive into what speaks to you but find a way to make it less costly.

For example, if you want to ride horses (which can be a very expensive hobby), you could pay to ride a horse by the hour at a local stable instead of buying a horse and paying for all of its care, food, and housing. Or you might find that volunteering at a local stable occasionally earns you some free time on horseback.

Recommended: 39 Passive Income Ideas to Build Wealth in 2022

Will This Hobby Hurt Future Finances?

When considering a hobby, it’s a good idea to take into account what the average cost per month will be. For instance, if you want to take up skiing, consider how it might affect future finances:

•   What equipment will you need?

•   How much will lessons cost and how many will you likely need?

•   What kind of transportation costs will be involved in pursuing skiing?

If a hobby is likely to drain your emergency savings or cause you to take on credit card debt, then it may be too expensive to pursue. Instead, you may want to do some research into more affordable hobby ideas (there’s plenty of inspiration below.)

19 Hobbies That Are Fun and Inexpensive

A cheap hobby can be just as fun and rewarding as an expensive hobby. Let’s take a look at some inexpensive yet highly enjoyable pastimes.

1. Gardening

Spending time outdoors feels good; research has shown it can improve your mood, putting you in a more positive, peaceful frame of mind. Gardening is also a great way to make your home more attractive and enjoyable to spend time in. Try planting flower seeds in window boxes or creating a windowsill herb garden to start.

2. Camping

Travel can be an expensive hobby, but camping can be done on a budget and scratch that travel itch. After all, renting a campsite for a night is typically cheaper than booking a hotel. Plus the sound of the birds and the view of the constellations at night can be priceless.

3. Discovering New Music

Instead of going to see only famous musicians play at large stadiums (ka-ching), try a creative way to save some money and check out some more affordable and unique local musicians. You’ll support the local music scene, get out of the house, and enjoy live entertainment in one fell swoop. What’s more, many towns have free concerts in warmer weather.

4. Cooking

Learning to cook well is not only an affordable hobby, it’s also a great way to save money on food by making you less tempted to dine out. There are many ways to do this, including taking low-cost local classes, watching free videos on YouTube or public broadcasting shows, and simply looking up recipes online and teaching yourself some new skills.

5. Painting

There’s no reason we need to leave arts and crafts behind once we finish elementary school. Spending some quiet time with a paintbrush in hand can be very relaxing. Whether you use oils, acrylics, or watercolors is totally up to you, as is the subject matter — which could be anything from a self-portrait to a landscape to an abstract canvas. Again, you can find videos online, inexpensive books, and local classes that will teach you how to use basic materials in new ways.

6. Drawing

Drawing is a way to tap into your artistic side and only requires paper and a pencil. Or you might choose to buy a basic set of pastels or charcoal sticks (a dozen will set you back just a few dollars; perfect for trying out new shading techniques).

7. Working Out and Exercising

Walking, swimming in a lake, or playing pickleball are all fun, inexpensive hobbies that can help keep you fit and healthy. While some fitness pursuits, like private Pilates lessons, can be pricey, there are also options that are absolutely free. (But if Pilates calls to you, check out free online videos first.)

8. Starting a Podcast

Are you passionate about a topic, say, local politics, fiction, or travel? Starting a podcast can help you share your knowledge and find a community with similar interests. This can be a low-cost project; if you have a computer, you can get started experimenting. You can then decide if you want to invest in a microphone, editing software, and a podcast hosting platform.

9. Learning Smartphone Photography

Photography was once an expensive hobby, but you can skip all the pricey equipment and learn to get really good at smartphone photography. You may find that local nature centers offer free classes in photographing nature or wildlife. Simply shooting local architecture, bicycle races, and other areas of interest and playing with cropping and filtering can unleash your creativity.

10. Learning an Instrument

Another creative outlet is learning to play a musical instrument. If you have an instrument gathering dust, brush it off. Or check local Facebook groups, Craigslist, and freecycle sites to find one on the cheap.

11. Volunteering

Giving to the community may not feel like a hobby, but choosing a cause that matters to you — such as volunteering with animals or tutoring school-age kids — can be completely engaging.

12. Visiting a Museum

Interested in becoming an art connoisseur? Museums change their exhibits all the time. Consider signing up for a membership to get exclusive invites to new exhibits and special events. Or scope out which nights or days offer free admission; many museums offer this kind of perk. Local gallery openings are another option that’s free and fun and can elevate your knowledge of and interest in the arts.

13. Learning to Dance

You know what the song says about “the rhythm’s gonna get you.” Why not indulge or jump-start your love of dance? Whether it’s at home or in a dance club, you can start simply by hitting the floor. Or many Y’s and other local centers offer inexpensive classes in ballroom, ballet, tango, and other styles of dance.

14. Fishing

Fishing can be a fun and peaceful way to connect with nature. Saving on groceries is a fun bonus of this hobby. Few things can beat a fresh-caught trout dinner.

15. Learning a Language

Get ready for that international vacation you’re saving for by learning a new language. Even if you don’t have a trip planned, building your foreign language skills can help boost your brain power by creating new neural pathways. And there are a host of apps (whether free or for a low fee) that can make this pursuit easy and fun.

16. Learning How to Sew

It takes time to master sewing, but doing so can be an almost meditative practice. Plus there are cool new trends to try, like sashiko, a beautiful form of Japanese mending. What’s more, building your skills with a needle and thread could save you pricey trips to the tailor.

17. Doing Calligraphy

Calligraphy is both a pretty and practical hobby to pursue. Wow your next dinner party guests with handmade name cards. Or offer to do the invitations for your best friend’s engagement party. All you need is pen, ink, and paper.

18. DIY Projects

Save money and upgrade your home at the same time by mastering DIY projects. Books and online tutorials can teach you how to build shelving, retile a backsplash, and more. Also, if you are a homeowner and one of your money goals is to sell your home at a profit, this can be a terrific path forward.

19. Joining a Club

There’s no shortage of local clubs you can join thanks to online meetup sites. Whether you’re looking for a hiking buddy or a group to practice a language with, you can likely find a group to suit your needs. All kinds of options are available. You might find a coffee-lovers’ group that gathers on weekends to test-drive new cafes; it could be a fun, frugal way to caffeinate and expand your social circle.

20. Starting a YouTube Channel

If video appeals to you, starting a YouTube channel can be a great way to make friends and earn some extra money from home. Whether you want to create videos of unboxing and reviewing products, or you’d like to share your knowledge of pro sports, go for it.

21. Starting a Blog

Or, you might lean into the written word with a blog on any topic that appeals. This can be a great, no- or low-cost creative outlet that connects you to others with similar interests. You might share poetry you write, chronicle your family history, or share your adventures training your new pup. The choice is yours.

22. Hiking

Need more ideas for things to do for fun with no money? Get some fresh air and exercise by exploring different hiking trails. As an added bonus, hiking can be a free hobby. Hanging out in nature (what some call forest bathing) can also be a great way to decompress and build mindfulness into your daily life.

23. Golfing

A fun way to stay active and social is to make a plan with friends to hit the golf course. You may worry that this will be a pricey endeavor, but public courses make it more affordable. What’s more, you may be able to use a local resident’s card (the kind you get at your town office or recreation department) to make it even cheaper. Also consider shopping garage sales for used clubs.

24. Upcycling Your Clothing

Use those newfound sewing skills to upcycle old clothes that need a little love and attention or transform them into something totally new. Upcycling is part of the reuse, recycle, repurpose movement. You might crop a pair of pants into shorts, or turn a dress into a blouse and/or a skirt. Some creative types save favorite worn-out clothes, then use the fabrics to create a quilt or pillow cover.

25. Playing Board Games

Board games aren’t just for kids anymore — there are tons of unique options for adults, and they offer a great way to entertain yourself as well as guests. You may also find no-cover game nights at your local pub, which can be a fun and inexpensive way to socialize. Who knows? You might be a Trivial Pursuit champion.

26. Running

One of the cheapest hobbies out there is running, especially if you already own a pair of athletic shoes. It can be a great way to spend time outdoors and can help improve your health. There are plenty of digital ways to help tap your motivation, like the popular low-cost “Couch to 5K” program for beginners.

27. Learning Photography

After getting good at smartphone photography, consider taking an online class or local community college class on the art of photography. Bargain-priced cameras can often be found online (check eBay) and at local second-hand shops.

28. Flying a Kite

Parents may be looking for a fun activity for the whole family that doesn’t cost much. Why not master the art of flying a kite? And it’s not just for those with kids. Anyone can have a great afternoon watching a kite take flight and stay aloft in a good breeze.

Recommended: 27 Cheap Date Night Ideas

29. Teaching a Pet Tricks

Pet parents can find ways to be entertained and bond with their critter by teaching it new tricks. Of course, dogs can be trained to do a variety of “shake” and “roll over” maneuvers, but pet birds and other animals can also learn new skills.

30. Geocaching

Geocaching is a fun way to explore the outdoors. It’s a pursuit in which, using an app or GPS, you find hidden “geocaches,” or containers that hold notes and small gifts. These are typically in parks and nature preserves. You can hide your own caches, too. An inexpensive hobby that is akin to a spirited scavenger hunt, geocaching can be engrossing for both individuals and families, while also connecting you with a community of fellow adventurers.

The Financial Benefits of a Cheaper Hobby

The financial benefits of having a cheap hobby are two-fold. Not only is having a low-cost hobby an inexpensive way to have fun, but hobbies can keep us busy and distracted which can help us avoid spending temptations.

Recommended: Different Ways to Earn More Interest on Your Money

Managing Finances With SoFi

There are plenty of affordable hobbies, so take your time and try a few to discover which will keep you feeling fulfilled. If you’re looking to save up funds to invest in a new hobby, the right banking partner can help you manage and grow your money.

Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with direct deposit, you’ll get a competitive annual percentage yield (APY), pay zero account fees, and enjoy an array of rewards, such as access to the Allpoint Network of 55,000+ fee-free ATMs globally. Qualifying accounts can even access their paycheck up to two days early.

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 hobby should I pick up?

There’s no right hobby to adopt. Every individual needs to pursue a hobby that excites them. That said, many people enjoy creative endeavors (think photography or painting), athletic pursuits (running, hiking), or pastimes that channel their interests and connect with a larger audience, such as podcasting or blogging.

How can I budget for a hobby?

Budgeting for a hobby can require doing a bit of research first. Only once someone knows what their hobby will cost can they then create a budget for it. When you know the costs, work to keep them as low as possible (say, by buying second-hand equipment, if needed). You can then divide the cost by the number of months you are willing to save. Put aside that amount in a high-yield savings account to earn some interest until you have enough saved up.

Can cheap hobbies make me money?

Certain hobbies can make someone money if they turn them into a side hustle. Starting a podcast or YouTube channel, writing, and photography are all great examples of hobbies that can become lucrative.

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Photo credit: iStock/South_agency

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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.

*Awards or rankings from NerdWallet are not indicative of future success or results. This award and its ratings are independently determined and awarded by their respective publications.

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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