Have you ever asked yourself this question: “When should I start saving for my child’s college?” If so, then the standard advice given is to start early. And with the rising costs of college tuition and fees, the sooner you can start, the better.
However, it’s never too late to start saving for your child’s college education now.
Getting a Late Start With College Savings
According to data presented by US News and World Report , the average cost of college tuition and fees for the 2022-2023 school year for in-state, public universities was $10,423, with the cost of private universities averaging $39,723 per year.
And that doesn’t include housing expenses, transportation costs, books, supplies, or anything else needed during that time.
So, what do you do if you’re late getting started?
Use the One-Third Rule
When figuring out how to pay for college, consider the one-third rule. This strategy involves saving enough money to cover one-third of the total cost of college expenses, planning to pay another third out of your current income, and relying on student financial aid for the final third. If you can save more than one-third, go for it. But if you can’t, at least you have this one-third plan as a baseline strategy.
Explore Scholarships
Another strategy could be to get the entire family to participate in this savings quest. Your child can play a big part, in fact, by performing well academically and then exploring which schools offer scholarships. Your child could also ask family members to donate to their college fund as a birthday or holiday gift.
Save With a 529 Plan
One way to save for college expenses is with a 529 plan, which is a qualified tuition plan that is sponsored by state governments, state agencies, and educational institutions. The two types of 529 plans are prepaid tuition plans and education savings plans. At least one type of 529 plan is available in each of the 50 states, plus in the District of Columbia.
Prepaid tuition plans allow you to prepay tuition at participating colleges and universities at today’s rates. These credits can then be used for tuition payments in the future, but usually do not cover additional college expenses, such as housing.
If your child ends up attending a college or university that isn’t part of the prepaid tuition plan, the money you’ve invested will transfer over to the chosen college, but you’ll have to pay tuition at today’s rates.
Education savings plans involve opening an investment account with funds available for college expenses.
When you withdraw funds from a traditional 529 savings plan, they can be put toward college tuition, fees, room and board, textbooks, and more. You can even use the funds to pay for K-12 tuition, if needed. Investment choices can include mutual funds, exchange-traded fund portfolios (ETFs), bonds, CDs, and short-term reserves.
What if you have a financial windfall, perhaps through an inheritance or large bonus? You can actually contribute up to five years’ worth of contributions in year one of your 529 plan, which would give you the opportunity to front-load your savings and take greater advantage of tax-free growth of your account.
Finally, here’s a question that’s sometimes asked about this strategy: When is it too late to start a 529 plan? The answer: If your child hasn’t yet started college, it’s not too late to take advantage of this type of plan.
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More Tips for Parents Starting Late
If you’re getting a late start to saving for your child’s college education and want to make college more affordable, and here are four tips to consider:
• Encourage your child to take advantage of advanced placement (AP) credits during their junior and senior years of high school, as many colleges will count those as college credit hours. The more credits your child starts with in college, the fewer they may need to take and pay for during college years.
• Explore what grants are available for your child. Grants are funds that don’t need to be paid back.
• Help your child apply for scholarships. School counselors can often help with this endeavor and, by doing so, your child can go after opportunities that may be lesser known.
• Consider using digital options for expensive textbooks. If your child rented all their textbooks from a library in digital form, you could potentially save thousands over a four-year period.
And finally, if you haven’t saved enough but don’t want to burden your child with debt, you could consider a private parent student loan to help with the ever-increasing expenses of college.
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In the spirit of transparency, SoFi® strongly believes you should exhaust all of your federal grant, loan, and other student aid options before you consider SoFi® as your private loan lender.
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Sure, there are lots of ways to get rid of your unwanted but still usable stuff. You could sell it online, haul it to a consignment shop…or maybe you’d just rather hold a garage or stoop sale and let people pay on the spot and walk away with their purchases.
No shipping, no schlepping, just a good old-fashioned transaction. You pick what you want to sell, you spruce it up, price it, publicize it, and then set up for your sale and staff it.
Whether you call it a “garage sale,” “yard sale,” or “tag sale,” you can boost the odds of success at an outdoor sale by following these tips and tactics.
1. Planning Your Garage Sale In Advance
Is it possible to pull together everything you need in a couple of days and hold a decent garage sale? Maybe. But your chances of success are likely to improve substantially if you put in some time planning your event.
Here are some things to consider ahead of time:
Knowing Your Goals
You’re probably hoping to make a profit and clear out some clutter. But knowing your top priority could help as you choose which items in your home you’re willing to part with and how you’ll price those goods.
Researching the Rules
Before you organize a sale, it’s a wise idea to check out how they’re handled in your community.
Some cities and counties require citizens who want to hold a garage sale to obtain a permit online or in person. There may or may not be a fee involved, but, either way, you could face a fine if a permit is required and you fail to get one.
There also may be limits on how early the sale can start, how late it can go, how many days it can last, the number of signs you can post, as well as the type of merchandise you can sell.
If you belong to a homeowners association (HOA), you might have to seek permission there as well. Some HOAs may allow only one or two neighborhood-wide sales a year (especially if you live in a community with a gate that would have to remain open all day).
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2. Setting Your Garage Sale Date
Once you know you’re able to have a sale, you can set a date and get the necessary permits.
Even if your schedule is pretty flexible, you may want to keep a few things in mind when you’re looking at your calendar:
• Consider choosing a day that falls just after a common payday (the first or the 15th of the month).
• You may want to avoid holding a sale on a holiday weekend, when many people will be away or have other plans.
• The most popular sale days are Fridays, Saturdays, and Sundays because most people are off from work. Keep in mind, though, that many families have activities or church on those days, so you may want to start early and end in the afternoon to attract the most shoppers. Or you could choose a weekday to avoid the weekend competition.
• You may want to hold a two-day sale and use the second day as an “everything must go” event.
• Mother Nature might not cooperate no matter when you hold your sale. Still, you can improve your chances of having better weather if you consider the season (not too hot, not too cold, not too rainy, not too windy) in your planning.
3. Stockpiling Garage Sale Items
A good strategy is to move through each room of your house (the attic, basement, garage, and sheds, too), and start boxing up items you might want to sell.
You might want to make a list of larger items you don’t want to move until you’re closer to the actual sale date, such as old furniture, artwork, or exercise equipment.
Kids who are reluctant to part with old toys, bikes, or sports equipment might be more willing if you offer to cut them in on the action. Consider negotiating a percentage of the profits, or offering to replace all the gently used toys they sell with one new one.
If you aren’t sure you have enough to grab shoppers’ interest on your own, you can ask friends and neighbors if they want to join in, or offer to sell their items on consignment.
4. Going All in With Publicity
It’s probably not the best idea to count on word of mouth to bring bargain hunters to your door. Consider advertising your garage sale at least a week in advance — and tempting shoppers with a list of desirable items.
Some places to consider publicizing your sale:
Newspapers
You may want to list your garage sale in the old-school print classifieds. You could see if your local newspaper charges a reasonable rate (and get a digital ad while you’re at it). You may want to keep the wording tight — you’ll likely pay more if you go over a pre-set maximum word count.
Many of these sites allow you to post a photo or photos with your ad, so it can help to have that ready, along with the wording you want to use.
Community Bulletin Boards
Some grocery stores, gyms, community centers and schools have bulletin boards where you can post a flyer. Consider making yours stand out with bold lettering, and including the sale date, hours, and address.
Signs for the Neighborhood
If signs are allowed in your area, consider putting out at least five or six on the day before the sale. You may want to make them easy to read from the road, with the address in bold print and an arrow pointing the way.
Also consider tying balloons and a big sign to your mailbox on sale day to make your home more visible.
💡 Quick 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.
5. Preparing What You’ll Need for the Sale
A week before the sale, you may want to start considering, and gathering, everything you’ll need. This may include:
Sale-Day Supplies
It’s a smart idea to make sure you have as many folding tables as you’ll need to properly display your sale items, and enough chairs so you and your “staff” can sit comfortably. (It could be a long day.)
A payment station
You may want to set up a main payment station that’s easy for shoppers to get to when they’re ready to buy.
You could make or buy a box to hold the money you collect and for change. (It’s wise to start out with plenty of ones, fives, and quarters in case early shoppers show up with bigger bills.)
Or, you can wear a vendor apron with pockets for the money. You also may want to give family, friends and neighbors you know the option of using a P2P app to make their purchases.
Keeping some old boxes and plastic grocery store bags near the checkout table can be useful for customers who have a lot to carry home.
6. Setting Your Prices
One option is to set up a color-coded sticker system, with items grouped by cost. If you go that route, keep in mind that you’ll want to let those who are assisting at the sale know the code, as well as put up a sign for customers.
A simpler option might be to just tag most of the items individually with a roll of painter’s tape (which is typically easier to remove than masking tape). Larger signs can point out bundled prices, such as “5 CDs for $2” or “3 paperbacks for $1.”
It’s a good idea to remember your main goal when setting prices. If you want to get rid of everything, you may want to keep prices reasonably low.
To avoid cheating yourself, however, you may want to do some research ahead of time so you can get the best price for special items (antiques, collectibles, or anything that might be in high demand with garage sale regulars).
If possible, it’s wise to keep sentimentality from getting in the way of a solid sale.
Also, if several people will be working the sale, you may want to set ground rules for how low prices on certain items should go — and on haggling in general.
If someone offers a low price at the start of the day, and you think you can do better, you may want to exchange contact info, and agree to connect again later when the sale is over.
💡 Quick Tip: An emergency fund or rainy day fund is an important financial safety net. Aim to have at least three to six months’ worth of basic living expenses saved in case you get a major unexpected bill or lose income.
7. Making Your Garage Sale Appealing to Shoppers
You’ll likely want to give some thought to the presentation of your items. Organization can make the day go better for you and your customers. And a little extra effort could make a difference in how much you can get for your goods. Some ideas:
Cleaning Old Items
You can start washing, dusting, and polishing things as soon as you decide they’ll be included in your sale.
This might include Inflating balls and bicycle tires, putting light bulbs in lamps, and trying to have batteries and a power source available for customers who want to test an item before purchasing. (If something doesn’t work, it’s a good idea to mark it clearly.)
Arranging Things in a Way that Makes Sense
Consider making it as easy as possible for customers to find things using signs and a system.
For example, books, CDs, DVDs, and videogames could be grouped together. Toys, board games and puzzles might be another section.
You may want to place the biggest sale items out in front of the yard, if you can–both to attract attention, and so customers can get them to their cars without disturbing others.
If possible, hang clothing on a garment rack near hats, shoes, and purses, and set up a mirror close by.
If your sale goes well, you may have to rearrange your display several times during the day.
8. Being a Good Host
One way to keep garage sale shoppers from walking away without really looking is to make it fun to stick around.
Consider playing some energetic music and greeting customers as they arrive. You also may want to sell water, lemonade, and maybe even baked goods. (It can be nice to have snacks and beverages ready for helpers, too.)
You might also want to have some bottles of hand sanitizer available for customers to use.
If you know your neighbors, they may pop by for a chat. While you may want to be polite and chat, you may also want to remind them that you need to pay attention to your customers — and the money box.
9. Remembering Sale Day Safety
Early birds sometimes show up long before a garage sale is scheduled to start. The more you have ready ahead of time, the more you’ll be able to stay focused on keeping everything and everyone (people, pets, breakables, and the money you make) safe.
Here are some security tips:
Locking Your Doors
It’s wise to keep the doors to your home and your car locked, and to avoid letting strangers use your bathroom.
Getting a Sitter
A sitter can keep an eye on young children and pets so you don’t have to.
Stashing Excess Cash
As profits start to pile up, it’s a good idea to have a method for how you’ll transfer excess cash to a safe spot in your home. It’s also wise to avoid talking about how much you’ve made.
💡 Quick Tip: If you’re faced with debt and wondering which kind to pay off first, it can be smart to prioritize high-interest debt first. For many people, this means their credit card debt; rates have recently been climbing into the double-digit range, so try to eliminate that ASAP.
10. Having a Plan for Unsold Items
When your sale ends, you’ll likely have at least a few unsold items to deal with.
If your primary goal was to clear the clutter, you may want to donate those leftovers to Goodwill, the Salvation Army, or some other nonprofit group that takes used goods. (If you itemize deductions, you may be able to include your donation on your tax return. Just be sure to keep a list of everything you gave and an estimate of the value.)
If the charitable organization you choose offers a pickup service, you may want to schedule the truck for the first available day after your sale. If not, you can arrange to drop off your items as soon as possible. (It’s a good idea to understand beforehand what the charity will and won’t accept.)
If you want to try to squeeze a little more money out of what’s left over — or there are some high-ticket items you aren’t willing to give away — you may want to move on to the online marketplace and sites like Offerup , Facebook Marketplace , Varage Sale , or Swap.com .
Consider taking the time to include a photo with anything you list online. At the very least, it could save you from having to answer a lot of questions about your item.
11. Making the Most of Your Garage Sale Profits
One of the perks of holding a garage sale vs. a virtual sale is that you’ll be holding your profits in your hands (mostly in cash) when you’re finished.
That also could be a problem, though, because it might be tempting to spend it. (And maybe even buy more stuff!)
Instead, consider planning ahead what you’d like to do with your profits. This may also help keep you motivated while you’re putting in the work to plan and host your sale. If you don’t have a specific plan, consider putting the money you earned towards an emergency fund.
The Takeaway
Hosting a garage sale can be a great way to clear the clutter in your home and sell a large number of unwanted items all in one fell swoop.
A successful sale, however, requires some upfront work, as well a day (or two) or working the sale.
The process typically requires gathering and preparing your items, getting a permit, picking up sale supplies, advertising your event, and then setting everything up in an organized and appealing way early on the day of the sale.
The payoff? Newfound space in your home and (hopefully) a nice pile of cash you can take to the bank.
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SoFi members with direct deposit activity can earn 4.20% 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 4.20% 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.
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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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A financial coach works with clients to help them better manage their money and to develop healthy, long-lasting, finance-related habits.
If you need help getting your finances organized or setting up a plan to effectively work towards your financial goals, you might benefit from the help of a financial coach. These professionals can help clients pay off debt, create an emergency savings fund, stabilize their finances, and develop an overall financial plan.
Unlike financial advisors, financial coaches spend more time helping their clients understand the fundamentals of finances, rather than recommending investments and managing their investment portfolios.
Read on to learn more about financial coaches, what they do, how much they cost, and how to find one.
What Does a Financial Coach Do?
According to the Consumer Financial Protection Bureau, a financial coach is a trained professional who collaborates with and guides their clients to reach their financial goals, including:
• Improved savings, debt levels, and credit scores
• More financial confidence
• Increased goal attainment
Financial coaches typically individualize their approach based on the needs of each client, with the goal of helping them make progress in the area of their financial life that they identify as most important. For example, a financial coach might help you reach your financial goals by teaching you how to build savings, avoid overspending, or pay down debt.
Financial coaches also often assist their clients with the behavioral and emotional components of managing money. A coach can help you uncover what drives your financial decisions, so you can create a healthier attitude that leads to better money habits.
Coaches often work with their clients over the period of several weeks to several months and may meet weekly or biweekly to provide advice and check on progress. The full coaching process may include:
• Building awareness around spending habits (usually by tracking daily, weekly, and monthly spending)
• Defining the client’s financial goals
• Developing a budget and a financial plan to achieve those goals
Accountability is also typically built into the process. So rather than managing a client’s person’s finances, a financial coach gives clients the tools to help make informed and responsible financial decisions.
What a financial coach can’t do: offer investment recommendations or help clients manage their investment portfolios. While coaches can provide basic advice on the concept of investing, they are not licensed to provide financial advice like financial advisors are, and therefore cannot provide specific product recommendations.
💡 Quick 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.
Get up to $300 when you bank with SoFi.
No account or overdraft fees. No minimum balance.
Up to 4.20% APY on savings balances.
Up to 2-day-early paycheck.
Up to $2M of additional FDIC insurance.
How Much Does a Financial Coach Cost?
Coaching rates typically run between $100 to $300 an hour. But because of the wide range of fees charged by coaches, it’s a good idea to ask about costs upfront.
Unlike financial advisors, who typically charge their fees based on a percentage of the assets under management, financial coaches generally work on a fee-only basis. Some may charge a flat fee based on how long you plan to work together (such as three or six months), while others might charge per session.
💡 Quick Tip: If you’re creating a budget, try the 50/30/20 budget rule. Allocate 50% of your after-tax income to the “needs” of life, like living expenses and debt. Spend 30% on wants, and then save the remaining 20% towards saving for your long-term goals.
How do I Find a Financial Coach?
While there is no required coursework or license, and there are no certifications to become a financial coach, there are training programs run by the Association for Financial Counseling and Planning Education (AFCPE).
You can begin looking for financial coaches in your area through the AFCPE website. It’s also a good idea to ask for personal referrals from friends and family, as well as other financial professionals you know or work with (such as an accountant or financial advisor).
Before selecting a coach, it can help to consider specifically what you are looking for in a financial mentor. This can involve thinking about your own financial strengths and weaknesses, and what your goals are. Are you, for example, struggling to save enough money for a down payment on a house? Or, do your credit card balances keep going up? Identifying your needs can help you suss out the best coach for your situation.
Once you’ve gathered a list of financial coaches, you may want to reach out to each candidate to get a sense of their personality, methods, and coaching style.
Some questions to consider asking:
• How long have you been a coach?
• What’s your business specialty?
• How long do you typically work with clients?
• What’s your plan to help me reach my goals?
• What is your availability?
• What are your fees?
💡 Quick Tip: If you’re faced with debt and wondering which kind to pay off first, it can be smart to prioritize high-interest debt first. For many people, this means their credit card debt; rates have recently been climbing into the double-digit range, so try to eliminate that ASAP.
The Takeaway
Maybe you’ve tried to make a budget but just can’t stick to it. Or perhaps you’ve run up so much debt between credit cards and loans that you don’t know the best way to pay it off. A financial coach can help you structure your budget, build a financial plan, and hold you accountable throughout the process.
Financial coaches also help clients understand and work through deep-seated emotions around money that may be preventing them from being “good with money,” building up savings, and reaching their financial goals.
Better banking is here with SoFi, NerdWallet’s 2024 winner for Best Checking Account Overall.* Enjoy up to 4.20% APY on SoFi Checking and Savings.
SoFi members with direct deposit activity can earn 4.20% 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 4.20% 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 4.20% 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 10/31/2024. There is no minimum balance requirement. Additional information can be found at https://www.sofi.com/legal/banking-rate-sheet.
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.
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.
Coupons have been around for a while and by the thousand (if not million) for good reason: They can help people like you save money at the supermarket, drug store, clothings shop, movie theater, and other popular locations.
Not only can you find coupons in the newspaper and your mailbox, you can likely download them from websites and social media accounts as well.
If you’re ready to save some dough, here are simple tips on finding, using, and maximizing your money with coupons.
Where to Find Coupons
A great way to begin couponing is to scan your kitchen pantry and bathroom cabinet and make a list of the products and brands that you purchase regularly.
You can then start looking specifically for coupons for as many of those items as you can. Here are some key places to look.
Newspapers
Even in today’s digital world, it’s still worthwhile to go old-school and check out the Sunday newspaper coupon inserts.
What makes newspapers such a rich source of savings is the fact that they offer a wide variety of different types of coupons, including product coupons, manufacturer coupons and competitor’s coupons.
If this week’s paper has a lot of good coupons, consider buying extra copies. Dollar stores often sell papers at a discount and can be a good place to stock up. But even if you have to pay full price, it could still be worth it.
💡 Quick Tip: Typically, checking accounts don’t earn interest. However, some accounts do, and online banks are more likely than brick-and-mortar banks to offer you the best rates.
Magazines
Magazines are still around, and can be a great source of coupons, particularly manufacturer coupons. You may want to flip through some of the magazines stocked at the checkout aisle next time you’re waiting in line at the supermarket.
Some women’s magazines even put together an index of all the coupons that each issue includes.
To up the odds of finding coupons for products you enjoy, consider browsing magazines that reflect your lifestyle.
Based on what you find, you might decide that getting a subscription (which is usually low cost, and a better deal than buying single issues) could be worthwhile.
Websites
If clipping isn’t your cup of tea, you can print coupons from websites that aggregate coupons, such as coupons.com , retailmenot , and valpak . These sites make it easy to search for and find deals.
Another online resource is P&G Everyday . This site offers printable coupons exclusively for Procter & Gamble brands (e.g., Crest, Pampers, Tide). You will need to create an account before you can print coupons.
You may also want to look at the list of items you typically stock in your home and head to the manufacturers’ websites.
Many companies have coupons you can print from their site. Some also reward you with coupons if you sign up for their e-newsletter.
Store sites are also worth checking out. Many grocery and drug store websites offer both manufacturer and store-specific coupons.
You may even be able to download these coupons directly to your store loyalty card, and redeem them simply by presenting your store card at checkout or possibly when ordering online.
Some department store sites also offer printable coupons and savings passes you can use that same day in store, and you may also be able to sign up to have coupons emailed to you directly.
Get up to $300 when you bank with SoFi.
No account or overdraft fees. No minimum balance.
Up to 4.20% APY on savings balances.
Up to 2-day-early paycheck.
Up to $2M of additional FDIC insurance.
Inside Stores
Many grocery stores, drug stores and supercenters provide coupons in circulars and flyers available inside the store. These can be a great place to find coupons that you’ll actually use.
You can also often find printable coupons in the red kiosks situated through the store, as well as coupons on the products themselves (which you can clip at home and use next time). You may also want to check for coupons at the bottom or back of your receipts.
Some stores, such as Target, have their own app that you can download to your phone and then show at checkout for discounts on items you are buying that day. These offers can often be combined with manufacturer and store coupons to create really good deals.
There are also cashback apps, such as ibotta and Checkout51 , which allow you to earn cash back on many of the products you buy.
All you have to do is link your loyalty card to the app or snap a picture of your receipts. Once you earn a certain amount (such as $20), you can redeem your cash back.
💡 Quick Tip: If you’re creating a budget, try the 50/30/20 budget rule. Allocate 50% of your after-tax income to the “needs” of life, like living expenses and debt. Spend 30% on wants, and then save the remaining 20% towards saving for your long-term goals.
Keeping Coupons Organized
Coupons aren’t worth anything if you don’t have them on you or you can’t find them when you need them.
If you use paper coupons, a good first step is to find a way to contain the chaos, such as using zip-lock bags, a binder, a coupon wallet, a recipe box, or any other storage container.
The idea is to simply have a single landing spot for all coupons. If possible, it’s wise to file them away as you get them, so you don’t have a big mess to deal with all at once.
You may also want to come up with a filing system, such as grouping coupons by grocery category (e..g, dairy, produce, frozen foods), or by aisle, or by coupon expiration date.
It’s also a good idea to go through and edit your collection periodically. Stores typically don’t take expired coupons, so it’s best not to let them eat up space in your filing system. Consider setting a certain day each or month to go through and purge.
If you use coupons via an app or other electronic means, it’s wise to have the app downloaded and open when you are ready to shop to make the experience as smooth as possible.
Shaving off just a little here and a little can be nice, but may not make a major change in your buying habits, but the real savings that comes with couponing is when you combine coupons with other coupons, as well as other sales offers.
Here are some tricks:
Matching Coupons to Sales
In order to really save money with coupons, you ideally only want to use them on sale items that won’t make you blow your budget.
You can hold onto a coupon until the item goes on sale, or if you see that a store is having a sale on something you buy regularly, you can then check the store circular, manufacturer’s websites, or your app to see if you can find a manufacturer’s coupon for it.
💡 Quick Tip: When you feel the urge to buy something that isn’t in your budget, try the 30-day rule. Make a note of the item in your calendar for 30 days into the future. When the date rolls around, there’s a good chance the “gotta have it” feeling will have subsided.
Stacking Coupons
This means using more than one coupon for the same item. For example, you can significantly increase your savings by combining a manufacturer coupon with a store coupon for the same item. You might be able to then amp up savings even more by using a cashback app.
Keep in mind that not all stores allow coupon stacking. You may want to review each store’s coupon policy to see where you can employ this trick.
Using Competitor’s Coupons
Lots of stores accept competitor coupons. It’s a good idea to find out which ones in your area do, and then work those coupons and sales to your advantage.
The Takeaway
Using coupons can be a great way to save money on the products you love, and help keep your everyday spending in line with your budget. You can often find useful coupons in Sunday newspaper circulars, magazines, coupon websites, as well as store and manufacturers’ websites. Coupon apps can also help you find coupons for your favorite products quickly.
To really rack up savings with couponing, it pays to go beyond just using a coupon here and there. Consider combining a manufacturer’s coupon with a store coupon, a sale, and a cashback or coupon app.
Better banking is here with SoFi, NerdWallet’s 2024 winner for Best Checking Account Overall.* Enjoy up to 4.20% APY on SoFi Checking and Savings.
SoFi members with direct deposit activity can earn 4.20% 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 4.20% 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 4.20% 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 10/31/2024. There is no minimum balance requirement. Additional information can be found at https://www.sofi.com/legal/banking-rate-sheet.
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.
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.
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.
You’re engaged and ready to plan your wedding. Along with plenty of excitement about your big day, you might also start to feel some sticker shock as you research prices for the ceremony and reception.
SoFi’s most recent survey found that the median price of a wedding is $10,000, and a large portion of that typically goes toward the reception venue.
The average cost of a wedding is $30,000, according to a recent survey of couples.
Fortunately, there are a number of ways to save for the wedding of your dreams. Reducing the costs of the venue helps with one of the largest expenses.
There are free wedding venues, as well as relatively inexpensive wedding venues to consider as you’re creating your budget. Below are four affordable places to hold a wedding. By selecting one of them, and adding some unique personal touches, you can make the day truly your own.
Plus, if you discover that you could use help financing your wedding, we have suggestions for that, too.
This could be at your own home, or that of a parent, friend, or other loved one, which will likely be one of the most affordable wedding venues around. Benefits of this choice (besides the lack of rental fees) include the flexibility to have your ceremony on just about any day of the year, plus you have a ready-made shelter if the weather isn’t ideal. Want a pet-friendly ceremony? It doesn’t get any better than a home wedding for having your beloved dog be your ring bearer.
Also, any home upgrades made for the ceremony can be enjoyed for a long time afterward. Just decide how much of the event will be held outdoors, what rooms of the house should be made available to wedding guests, and how to ensure enough seating.
You can keep it simple by focusing on certain aspects for home improvement. For instance, if you envision yourself making a grand entrance by walking down a staircase in your wedding dress, you might think about a staircase remodel for your ceremony.
On the other hand, if your powder room could use a glow-up, you might want to concentrate your efforts there for a beautiful bathroom refresh. As a bonus, a project like this could add value to your home.
Check to be sure your officiant of choice is able to perform the ceremony, plan the parking logistics, find out how to comply with any noise ordinances, and so forth. Also, this could be a perfect time to do some outdoor landscaping that will beautify your special day and your home for years to come.
City Hall Wedding
A city hall wedding can be a very chic choice. You aren’t restricted to the city hall or courthouse by where you currently live. You could choose one that has special significance to your relationship, perhaps the city where you first fell in love.
Or, you can get married in the city hall where you’ll enjoy your honeymoon or your family vacation. As another strategy, you can choose the city hall based on its beauty. For instance, the city hall in San Francisco has a stunning white column and gold-capped roof.
The fee for a city hall wedding varies by state and municipality. Generally, it ranges from $30 to $88 or more. Call the location to learn the exact cost.
There are usually designated days and times for city hall weddings, so find out what they are in the location of your choice and how that would work in conjunction with your post-wedding celebration. Also, ask if there’s a limit to the number of wedding guests you can have, and whether you’ll be able to have bridesmaids and groomsmen, given the logistics.
Perhaps there are beautiful parks in your town or city full of unique flowers, landscaping, and more — or maybe there is one with special meaning to you, say, where the two of you attended college.
If that’s the case, you could contact the relevant parks department and find out any details about fees and permits. How accessible is the location for guests? If it’s a small park in the center of town, it’s likely to be fairly accessible. If it’s deep in the heart of a national park system, you may need to decide how to make it practical for guests to find and attend.
Other considerations for a park wedding include shelter in case of rain, having enough public restrooms (are they readily available or do you need to rent portable options?), and how comfortable you are getting married in an open space.
You might also need to find out what the park’s policy is on receptions. Can you set up tables and have food brought in? Or are you imagining a picnic complete with champagne? Dream it up, brainstorm details, and get confirmation from park officials.
One bride who got married in Glacier National Park wore her grandmother’s dress. In and of itself, that might not be unique — but the dress had been made out of the silk parachute her grandfather used in World War II! What unique touches can you bring to your own special park wedding?
Beach Wedding
You might consider a beach wedding, with its possibilities for one-of-a-kind photography, soft breezes, and tropical drinks. As practical considerations, do you plan to have a ceremony along the ocean on a public beach or will you locate a private beach? The permits you’ll need will likely be quite different if you plan to have just your ceremony there versus if you also plan to have a beachside reception complete with food, drink, and music.
You’ll also need to create a Plan B or otherwise have shelter available if the weather doesn’t cooperate. And, where you plan to have the ceremony, geographically speaking, may help to dictate what time of year your wedding should be scheduled. For instance, for a July wedding at your favorite beach, think about how far in advance to plan summer travel.
Then figure out the final details. Do you plan to have alcohol at your reception? That often isn’t permitted on beaches, but there are some that do allow guests to imbibe. Do you want to rope off a section of the beach? Build a bonfire? Again, you might want to ask what the rules and regulations are for the beach you have in mind and be flexible about modifying plans to help make it all come together.
Budgeting for Your Wedding
Even when you choose a free or inexpensive wedding venue, you’ll still likely want to come up with some creative ways to save money for the food, music, drinks, flowers, photography, video, and so on.
You can also explore different ways to help cover some of the wedding costs. For instance, a wedding loan might be an option to explore to help pay for your big day. Or perhaps your families might be able to help out financially with some of the venue-related expenses, such as catering.
During a discussion with your partner, you could both try to determine who will pay for what, and how much you’re willing to spend. It could help to discuss priorities so you’re in agreement about where to splurge and where you’re willing to compromise.
If, for example, you know that having beautiful flowers is important to both of you, that could rise to the must-have category. And maybe you want to spend more on photography and less on videography — or vice versa. What’s important is that you mutually create and agree upon a plan that’s unique to you and your special day.
Financing Your Wedding
When it comes to financing your wedding, a wedding loan could be a good option for your needs. These loans are unsecured personal loans used to cover wedding costs. Rates on personal loans tend to be lower than credit card rates, and they can offer more flexibility on the term of your loan and the amount you can borrow. Plus, you’ll get a fixed rate.
A personal loan from SoFi can be a fast, simple way to get extra cash for your wedding. You can apply online and, if you qualify, you can get the money as soon as the same day.
Explore a personal loan at SoFi — check your rate in just minutes!
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.
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.
