Anyone can use a money order to send or receive money. While money orders aren’t the most common tool, they’re usually simple to obtain and cash. To cash a money order at no charge, visit your local post office branch and present your money order at the window.
In this article, we outline where to cash postal money orders and what the process looks like.
• Money orders can be cashed at various locations, including banks, credit unions, post offices, and retail stores.
• Some places may charge a fee to cash a money order, so it’s important to compare fees before choosing a location.
• To cash a money order, you typically need to endorse it and provide identification.
• It’s important to keep the receipt or a copy of the money order in case it gets lost or stolen.
• If you don’t have a bank account, you can still cash a money order by using a check cashing service.
What Is a Postal Money Order?
A postal money order is a type of financial certificate issued on paper by the post office. Similar to a paper check, the document is worth the amount of money determined by the person or company that purchased it. While you can obtain a regular money order from almost any bank, only the United States Postal Service (USPS) issues postal money orders.
Unlike a check, a postal money order is prepaid by the party sending it, so it can’t bounce. Money orders also never expire. A receipt is provided to the purchaser in case the money order is lost, stolen, or damaged. As a result, you can use a postal money order to securely send a payment through the mail.
Another advantage of money orders is that they are difficult to counterfeit. You can make a payment of up to $1,000 with a single order.
To send a money order, you must pay for it ahead of time using cash, a debit card, or a traveler’s check. Although it is possible to buy a regular money order with a credit card, you cannot put postal money orders on a credit card.
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If you receive a postal money order, you can redeem its face value by cashing it. There is no advantage in keeping a postal money order long-term, since it doesn’t earn interest and cannot be used directly to make a purchase.
Here’s how to cash a money order at the post office for free:
1. Bring the money order and a photo ID to a post office service counter.
2. Sign the money order in view of the postal worker (do not sign it ahead of time).
3. You will immediately receive the cash value of the money order.
Where to Cash a Postal Money Order
You can cash a postal money order in certain places outside the post office. Many banks will cash postal money orders, as long as you have an account there. Some grocery stores and retailers will cash money orders, too.
Because proof of ID is required, you cannot deposit money orders via a mobile banking app.
List of Places That Cash Money Orders
Here are some locations that may cash a postal money order:
• Most banks. Check with your local branch.
• Check-cashing retailer. Consumers without a bank account or nearby post office may cash money orders here for a fee.
• International postal office. The post office offers special international money orders that can be cashed at banks and post offices in some other countries.
• Rural mail carrier. Some mail carriers may cash money orders for rural customers if they have enough cash on hand.
• Some supermarkets and major retailers. Search online for “places to cash a money order near me.”
You’ll want to examine your money order before attempting to deposit it in order to ensure it’s authentic. Here are a few ways to spot a fraudulent postal money order:
• Look closely at the paper. Valid postal money orders have special markings and designs to prevent fraud. Visit USPS.com to view a sample money order.
• Review sum amount. If the dollar amount is faded, too large, or not printed twice on the paper, it could be fraudulent. All postal money orders must be under $1,000 and have the sum printed twice on the paper. International postal money orders cannot exceed $700, or $500 for El Salvador and Guyana.
If you think your postal money order is fake, contact the U.S. Postal Inspection Service at 1-877-876-2455.
Cashing a USPS money order is a straightforward process. Your local post office can cash a postal money order at no cost to you. You may also be able to cash a postal money order at a bank branch if you have an account there, or at your local supermarket.
Take control of your finances with SoFi. With our financial insights and credit score monitoring tools, you can view all of your accounts in one convenient dashboard. From there, you can see your various balances, spending breakdowns, and credit score. Plus you can easily set up budgets and discover valuable financial insights — all at no cost.
See exactly how your money comes and goes at a glance.
FAQ
Can you mobile deposit a USPS money order?
Unfortunately, you cannot use mobile deposit for USPS money orders. Instead, you must deposit it in person with a valid ID.
Where can I cash a money order for free?
You can cash a postal money order for free at your local post office. You may also be able to cash it at your local bank branch.
Can you cash a money order online?
Since you need proof of ID to deposit a postal money order, you usually can’t deposit it online.
About the author
Ashley Kilroy
Ashley Kilroy is a seasoned personal finance writer with 15 years of experience simplifying complex concepts for individuals seeking financial security. Her expertise has shined through in well-known publications like Rolling Stone, Forbes, SmartAsset, and Money Talks News. Read full bio.
Photo credit: iStock/Delpixart
SoFi Relay offers users the ability to connect both SoFi accounts and external accounts using Plaid, Inc.’s service. When you use the service to connect an account, you authorize SoFi to obtain account information from any external accounts as set forth in SoFi’s Terms of Use. Based on your consent SoFi will also automatically provide some financial data received from the credit bureau for your visibility, without the need of you connecting additional accounts. SoFi assumes no responsibility for the timeliness, accuracy, deletion, non-delivery or failure to store any user data, loss of user data, communications, or personalization settings. You shall confirm the accuracy of Plaid data through sources independent of SoFi. The credit score is a VantageScore® based on TransUnion® (the “Processing Agent”) data.
*Terms and conditions apply. This offer is only available to new SoFi users without existing SoFi accounts. It is non-transferable. One offer per person. To receive the rewards points offer, you must successfully complete setting up Credit Score Monitoring. Rewards points may only be redeemed towards active SoFi accounts, such as your SoFi Checking or Savings account, subject to program terms that may be found here: SoFi Member Rewards Terms and Conditions. SoFi reserves the right to modify or discontinue this offer at any time without notice.
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.
Despite the obvious appeal of side hustles — more money! — they’re not for everyone. If your side hustle makes you stress out, neglect relationships, or miss opportunities at your day job, then consider it a bad idea. Side hustles are only beneficial when they help you accomplish goals without sacrificing what matters most.
Side hustles are often promoted as a simple way to generate extra cash or fulfill your passions. However, the often-ignored price tag is physical and mental strain. Not to mention the time requirement and potential financial commitment necessary to get a gig going.
Read on to find out how to evaluate your options and goals before taking on a side hustle.
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What Is a Side Hustle?
A side hustle refers to a second job or source of income that people pursue outside their primary employment. The purpose may be to earn extra money, pursue a pet project, or develop skills in a different area.
A side hustle can take various forms, from freelance work or consulting to selling handmade crafts or driving for a rideshare service. Renting out property and offering tutoring services also qualify. The point is leveraging your time and skills to pad your budget or explore a wider field than your day job allows.
💡 Quick Tip: We love a good spreadsheet, but not everyone feels the same. A free budget app can give you the same insight into your budgeting and spending at a glance, without the extra effort.
Pros and Cons of a Side Hustle
Browse the pros and cons below, and make a mental note of how many of each apply to your situation. If one side of the scales is considerably heavier, your decision may be obvious.
• Develop Your Career: Side hustles can provide a valuable opportunity to develop skills, gain experience, and broaden your professional horizons. By taking on projects or roles outside your main job, you may acquire new competencies to help advance your career or get a promotion. Additionally, side hustles can demonstrate initiative, entrepreneurial spirit, and versatility to potential employers, enhancing your marketability and opening up new opportunities.
• Switch Up the Norm: A side hustle allows you to break away from the routine of your primary job. This variety can be refreshing and stimulating, helping to prevent boredom and burnout. Whether you’re pursuing a different passion, exploring a new industry, or experimenting with creative projects, having a side hustle can inject excitement and fulfillment into your life outside work.
• Build Your Network: Side hustles often involve interacting with different people and communities, which can expand your professional network. Whether you’re collaborating with clients, partners, or fellow freelancers, each connection presents an opportunity to exchange ideas, learn from others, and potentially uncover new career prospects. Building a diverse network through your side hustle can provide valuable support, mentorship, and referrals in your professional journey.
• Channel Creativity: Side hustles offer a platform for expressing your creativity, passions, and interests outside your primary job. Whether it’s writing, photography, crafting, or any other form of expression, a side hustle can bring more meaning and fulfillment than your 9-to-5. This outlet can serve as a source of inspiration, relaxation, and personal growth, enriching your life beyond the confines of your main occupation.
• Increase Income: One of the most practical benefits of a side hustle is the extra money. Whether saving for a major purchase, paying off debt, or simply seeking financial security, the income from your side hustle can provide greater financial flexibility and stability. Likewise, having multiple streams of income can be a buffer against economic uncertainty and provide a safety net in case of job loss or another hardship.
Cons of a Side Hustle
On the other hand, these are the potential drawbacks of a side hustle:
• Less Time to Relax: Side hustles require time and effort, eroding your leisure time. Working 60+ hour weeks can lead to fatigue and even burnout. When juggling your day job, side hustle, and personal commitments causes you to lose sleep, your quality of life can become unsustainably low.
• Distraction from Work: A side hustle can encroach on your attention and focus during work hours. Constantly thinking about your other gig, responding to email, or taking calls while at your main job can detract from your performance. If colleagues or supervisors perceive your divided attention, this can also strain your professional relationships and undermine your credibility.
• Managing the Stress of Two Jobs: Managing the demands of a side hustle on top of your primary job and personal responsibilities can significantly increase stress. Deadlines, client expectations, financial pressures, and the need to constantly switch between different roles and tasks can elevate anxiety. Chronic stress associated with balancing multiple commitments can affect your mental and physical health over time.
• Sustainable Prices Can Be Elusive: Setting prices or negotiating rates for your side hustle services can be challenging, especially if you’re just getting started or dealing with imposter syndrome. Striking the right balance between competitiveness and fair compensation can be tricky, and you may encounter situations where clients or customers undervalue your work. Plus, breaking into a competitive market may require setting prices so low that you work at a loss for the first few months or even years. As a result, your side hustle may ding your budget instead of adding to it.
💡 Quick Tip: An online money tracker makes monitoring your spending a breeze: You can easily set up budgets, then get instant updates on your progress, spot upcoming bills, analyze your spending habits, and more.
When Does a Side Hustle Make Sense?
Several ingredients are key for a side hustle to make sense for your situation. First, it’s essential to have a clearly defined reason for pursuing a side hustle. For example, you may want to generate income, follow a creative impulse, or pave a path to a new career. This clarity of purpose will guide your efforts and motivate you throughout your side hustle journey.
Second thorough research is crucial to understanding the market, demand, competition, and potential challenges associated with your chosen side hustle. This is significant even if you don’t have financial aspirations for your other gig.
For example, if you’re interested in fitness, is your specific angle better suited for a blog or a YouTube channel? Will you create a social media presence to drive more traffic? What kind of value are you delivering to your audience?
In a different vein, if you want to become a rideshare driver, which company offers the best pay? Do you have a presentable vehicle that you’re willing to put miles on? Answering these kinds of questions will help you make informed decisions and set realistic expectations. Not doing your homework will likely bring a lack of results, monetary loss, and frustration.
Next, understand the time commitment your side hustle will require. For instance, a few hours of woodworking on the weekend is less demanding than taking a constant flow of orders on Etsy. If your schedule is already full to the brim from your primary job, family responsibilities, and personal pursuits, incorporating a side hustle can do more harm than good. Even if you work a side gig with your significant other, it’s not the same as spending quality time together.
Finally, your side hustle should fit into the larger picture of your goals and values. For instance, you might start a side hustle in order to build a $5,000 emergency fund. Or you could take a software engineering course in the evenings that will help you eventually switch careers. In any case, your side hustle should have specific benefits and point toward a defined objective. Otherwise, you’ll burn time without accomplishing much.
The Opportunity Cost of a Side Hustle
The “opportunity cost” of a side hustle depends upon the resources you invest. When you dedicate yourself to anything, you lose opportunities to engage in leisure activities, spend time with family and friends, and take vacations. In essence, the opportunity cost of a side hustle equals the value you place on other aspects of life that matter most.
Also ask yourself what is the financial cost of your side hustle? You might have to invest money to purchase materials or pay for marketing. You might also give up overtime at your primary job. That’s cash that could go into savings, investments, or paying off debt.
Likewise, your time could be going into skill development for your day job, leading to promotions or raises. Plus, your employer might sponsor specific types of professional development, resulting in free training that moves your career forward and increases your salary.
Ultimately, the opportunity cost of a side hustle varies depending on individual circumstances, goals, and priorities. It’s essential to carefully consider these factors and assess how the benefits of the side hustle compare to the time and money.
Examples of Side Hustles
While there are unusual ways to make money, side hustles are typically more accessible. Here are some side hustles that match with a range of backgrounds and skill sets:
• Freelancing: Offer services such as writing, graphic design, programming, bookkeeping, and more. You’ll take projects on a contract basis with multiple clients.
• Dog Walking: Providing exercise and companionship for dogs by taking them on walks on a regular or as-needed basis.
• Blogging: Creating and maintaining a consistent feed of valuable written content on a topic you love or have expertise in. Find out how much it costs to start and run a blog.
• Non-Medical Senior Care: Assisting elderly individuals with daily tasks (shopping, bathing, housework, etc.) and providing companionship to support their wellbeing.
• Babysitting: The tried-and-true income-generator for teenagers and adults alike. You’ll care for children in the evenings and on weekends when parents are busy or need a break.
• Personal Assistant: Providing administrative support and assistance to individuals or businesses. You’ll manage schedules, run errands, and handle correspondence. You can also be a virtual assistant and provide numerous essential services (bookkeeping, arranging travel, etc.), therefore creating a side hustle from home.
• Handyman: Offering services to repair, maintain, and improve residences. You can specialize in one or more areas: plumbing, electrical work, carpentry, or general home tasks.
• Crafting: Creating handmade goods and artwork, such as jewelry, clothing, and home décor, to sell online or at craft fairs.
• Cooking/Baking: Crafting you can eat! Get to work in the kitchen to make treats, desserts, or meal kits for sale.
• Private Tutor: Providing personalized academic instruction to students in a particular subject or skill, often on a one-on-one basis.
• Self-Publishing: Writing and publishing books or other written works independently, without the involvement of traditional publishing companies. Self-publishing is inexpensive because your work will be accessible as an ebook.
• Teaching Online Courses: Creating and delivering educational courses or tutorials on a specific topic via online platforms is another side hustle from home.
• Product Tester: Testing and reviewing products or services for companies or brands, often providing feedback and insights based on personal experience.
• E-Commerce: Selling products or services online through a website or online marketplace, which may involve sourcing or creating products, managing inventory, and handling customer inquiries and orders.
When Is a Side Hustle Not Worth It?
A side hustle may not be worthwhile because of the toll on your physical, mental, and financial wellbeing. Here are more specific ways that a side hustle can negatively impact your life:
• Burnout: Working an 8-hour job and dedicating 2 to 4 additional hours per day to your side hustle leaves little room for anything else. The demands of a side hustle can result in excessive stress, fatigue, and burnout.
• Missed Career Advancements: Devoting significant time and energy to a side hustle may detract from opportunities for advancement in your primary job. They can also keep you from visualizing a sustaining career. So if you’re in a job you don’t like, a side hustle can act as a bandage instead of a cure. It’s advisable to focus on switching vocations instead of supplementing your income through another unsatisfying side job.
• Unhealthy Lifestyle Habits: A demanding side hustle may lead to poor eating choices due to lack of time for meal prep, insufficient exercise, and disrupted sleep. Over time, these habits damage physical health and overall quality of life.
• Strained Relationships: Spending excessive time on a side hustle can strain relationships with family, friends, and romantic partners. Missing significant events or quality time with loved ones due to work commitments can lead to feelings of resentment and isolation.
• Financial Costs: Some side hustles require upfront investments of time and money, for purchasing inventory or equipment, marketing expenses, or training courses. If the return on investment does not justify these costs, the side hustle may not be financially sustainable in the long run.
• Not-So-Passive Income: Many side hustles require active participation and ongoing effort to generate income, which can limit scalability and long-term earning potential. Without the ability to create passive income streams, you’ll constantly trade time for money without achieving financial freedom.
• Neglecting Personal Growth: A side hustle that consumes all available time and energy may leave little room for hobbies or other interests. Over time, this can lead to stagnation and dissatisfaction with your lifestyle.
Side Hustle Tips
A side hustle can quickly get out of hand or detract from your life if you’re not careful. Here’s how to create a practical side hustle that serves your needs:
• Start Small: When beginning a side hustle, starting with manageable tasks or projects that don’t require a significant investment of time or resources is wise. Starting small allows you to test the waters, gain experience, and assess the viability of your chosen side hustle without taking on too much risk. As you gain confidence and experience, you can gradually expand and scale your side hustle over time.
• Play to Your Strengths: Identify your special skills, interests, and areas of expertise, and leverage them in your side hustle. By focusing on activities that align with your strengths, you’re more likely to enjoy the work, excel at it, and differentiate yourself from competitors. This approach also allows you to maximize your earning potential by offering high-value services or products that cater to a specific niche or market. Remember, this doesn’t mean you must stick to your current skill set. Your interests and abilities can also lead you to pick up new skills.
• Maintain Your Performance at Work: Balancing a side hustle with a full-time job means prioritizing high performance and professionalism in your primary job while pursuing your side hustle. To that end, it’s recommended to set boundaries for the time you dedicate to your side hustle and to manage your schedule efficiently. By maintaining your performance at work, you can preserve your job security and opportunities for advancement.
• Aim at a Goal Instead of a Job: Instead of treating your side hustle as just another job, set out to achieve specific goals or milestones that align with your long-term aspirations. Whether your goal is to generate additional income, pursue a passion project, or transition to full-time entrepreneurship, having a clear vision and purpose for your side hustle will keep you motivated and focused on what truly matters to you. By focusing on goals rather than simply exchanging time for money, you can create a more fulfilling and meaningful side hustle.
The Takeaway
Side hustles can be a bad idea when they damage your quality of life. While picking up a side gig can create more income, this result must be weighed against other priorities, including advancement in your day job, time dedicated to relationships, and alternatives that slowly but surely create passive income.
Asking yourself whether a side hustle is a good move might not be the most relevant question. Instead, you can ask yourself if a second job makes sense after developing a clear vision of the future.
Take control of your finances with SoFi. With our financial insights and credit score monitoring tools, you can view all of your accounts in one convenient dashboard. From there, you can see your various balances, spending breakdowns, and credit score. Plus you can easily set up budgets and discover valuable financial insights — all at no cost.
See exactly how your money comes and goes at a glance.
FAQ
Are side hustles risky?
Side hustles can be risky because of the opportunity cost of picking up extra work. Specifically, a side hustle can drain time and financial resources, add unmanageable stress to your life, and lead to worse quality of life because of the sacrifices required to work a second job. As a result, it’s essential to evaluate your circumstances and identify your goals before starting a side hustle.
Are side hustles a waste of time?
Side hustles can be an excellent way to generate more income, develop yourself professionally, or transition to a different career. However, they can also be a waste of time if you don’t set goals and create a realistic plan when starting. So a carefully planned side hustle that fits into the larger picture of your life can provide massive benefits, while picking up more work to simply stay busy can lead to missed opportunities in your professional and personal life.
Is starting a side hustle really worth it?
Starting a side hustle can be worth it for additional income, pursuing passions, or expanding your skill set. However, it requires careful consideration of the potential drawbacks, such as time constraints, increased stress, and the risk of hindering career advancement. Ultimately, the value of a side hustle depends on your aligning it with personal goals, managing resources effectively, and maintaining a healthy work-life balance.
About the author
Ashley Kilroy
Ashley Kilroy is a seasoned personal finance writer with 15 years of experience simplifying complex concepts for individuals seeking financial security. Her expertise has shined through in well-known publications like Rolling Stone, Forbes, SmartAsset, and Money Talks News. Read full bio.
Photo credit: iStock/JLco – Julia Amaral
SoFi Relay offers users the ability to connect both SoFi accounts and external accounts using Plaid, Inc.’s service. When you use the service to connect an account, you authorize SoFi to obtain account information from any external accounts as set forth in SoFi’s Terms of Use. Based on your consent SoFi will also automatically provide some financial data received from the credit bureau for your visibility, without the need of you connecting additional accounts. SoFi assumes no responsibility for the timeliness, accuracy, deletion, non-delivery or failure to store any user data, loss of user data, communications, or personalization settings. You shall confirm the accuracy of Plaid data through sources independent of SoFi. The credit score is a VantageScore® based on TransUnion® (the “Processing Agent”) data.
*Terms and conditions apply. This offer is only available to new SoFi users without existing SoFi accounts. It is non-transferable. One offer per person. To receive the rewards points offer, you must successfully complete setting up Credit Score Monitoring. Rewards points may only be redeemed towards active SoFi accounts, such as your SoFi Checking or Savings account, subject to program terms that may be found here: SoFi Member Rewards Terms and Conditions. SoFi reserves the right to modify or discontinue this offer at any time without notice.
Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.
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.
Thinking about relocating to Ohio? The average salary in the state is $60,320, according to the U.S. Bureau of Labor Statistics. For comparison, the average salary in the U.S. is $63,795, per 2022 data from the National Average Wage Index.
Of course, an individual’s income is dependent on a number of factors: Age, occupation, and education level can all play a role.
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Average Salary in Ohio by Age in 2023
As in other states, the median salary in Ohio tends to increase with age and experience and decline in the retirement years. This can be good news if you have an entry-level position and are looking to earn more.
Here’s a look at the median salary in Ohio by age range:
Age range
Median Salary
15 to 24
$38,314
25 to 44
$75,119
45 to 64
$81,640
65 and over
$49,081
Source: Schoolaroo
Salaries also often rise with your level of education, as the Census Bureau data below shows:
• No high school diploma: $29,967
• High school diploma: $36,589
• Some college/two-year degree: $42,903
• Bachelor’s degree: $59,928
• Graduate/professional degree: $73,752
Regardless of where you are in your career path, it’s a good idea to stay on top of your finances. Online tools like a money tracker can keep tabs on where your money is coming and going and provide valuable insights.
Where you live in Ohio can make a difference in how much money you earn. The more populated a metropolitan area is, the higher incomes tends to be. Let’s take a look at the median salary of households in 11 major cities in Ohio:
City
Household Median Salary
Akron
$46,596
Canton
$37,627
Cincinnati
$49,191
Cleveland
$37,271
Columbus
$62,994
Dayton
$41,443
Indian Hill
$218,073
Mansfield
$40,996
Springfield
$45,113
Toledo
$45,405
Youngstown
$34,295
Source: Census Bureau
Average Salary in Ohio by County in 2023
Another way to look at salaries in Ohio is by county. The ten most-populous counties in the state have the following median incomes:
Ohio has high-paying jobs in many different sectors, such as medical, business, aviation, and technology. As a result, the state has opportunities for introverts and professionals who love working with people.
In contrast, the lowest average salaries in Ohio appear primarily in service industries. Baggage porters and bellhops, cashiers, short order cooks, childcare workers, and housekeeping cleaners are examples of jobs that make an average of less than $30,000.
If you’re looking to maximize your salary, online tools like a budget planner app could help. Besides monitoring spending, it helps you set a budget and track your progress.
The Takeaway
Pay depends on many different factors, including age, occupation, education, and location. In Ohio, the average salary is $60,320, according to BLS data. That’s slightly lower than the national average salary of $63,795. The state is also home to plenty of jobs with six-figure salaries, especially in the medical, business, aviation, and technology fields. Ohioans enjoy a cost of living that’s lower than the national average, which can help workers stretch their wages even more.
Take control of your finances with SoFi. With our financial insights and credit score monitoring tools, you can view all of your accounts in one convenient dashboard. From there, you can see your various balances, spending breakdowns, and credit score. Plus you can easily set up budgets and discover valuable financial insights — all at no cost.
See exactly how your money comes and goes at a glance.
FAQ
What is a good average salary in Ohio?
A good salary is one that meets your basic needs while leaving you with some money for savings. Pew Research Data found that in order to be considered middle class in Ohio, you need to earn $61,664 a year.
What is the average gross salary in Ohio?
In Ohio, the average gross salary — or money earned before taxes and other payrolls deductions are taken out — is $72,146 a year, per data from Talent.com
What is the average income per person in Ohio?
The average income per person in Ohio is $60,320, according to data from the U.S. Bureau of Labor Statistics.
What is a livable wage in Ohio?
A livable wage in Ohio for a single adult is $40,352. Households with multiple people will need more. For example, if you and your spouse both work and have one child, you could get by on around $82,409 a year in Ohio, according to MIT’s Living Wage Calculator.
About the author
Ashley Kilroy
Ashley Kilroy is a seasoned personal finance writer with 15 years of experience simplifying complex concepts for individuals seeking financial security. Her expertise has shined through in well-known publications like Rolling Stone, Forbes, SmartAsset, and Money Talks News. Read full bio.
Photo credit: iStock/jacoblund
SoFi Relay offers users the ability to connect both SoFi accounts and external accounts using Plaid, Inc.’s service. When you use the service to connect an account, you authorize SoFi to obtain account information from any external accounts as set forth in SoFi’s Terms of Use. Based on your consent SoFi will also automatically provide some financial data received from the credit bureau for your visibility, without the need of you connecting additional accounts. SoFi assumes no responsibility for the timeliness, accuracy, deletion, non-delivery or failure to store any user data, loss of user data, communications, or personalization settings. You shall confirm the accuracy of Plaid data through sources independent of SoFi. The credit score is a VantageScore® based on TransUnion® (the “Processing Agent”) data.
*Terms and conditions apply. This offer is only available to new SoFi users without existing SoFi accounts. It is non-transferable. One offer per person. To receive the rewards points offer, you must successfully complete setting up Credit Score Monitoring. Rewards points may only be redeemed towards active SoFi accounts, such as your SoFi Checking or Savings account, subject to program terms that may be found here: SoFi Member Rewards Terms and Conditions. SoFi reserves the right to modify or discontinue this offer at any time without notice.
Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.
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.
Job growth is an important consideration when choosing a career. Some of the fastest-growing jobs, according to the Bureau of Labor Statistics (BLS), include nurse practitioners, wind turbine service technicians, and data scientists.
Whether you’re preparing to enter the job market or switching careers, it’s good to know which industries and fields have the brightest hiring outlook. Keep reading for a breakdown of the fastest-growing jobs in 2024 and beyond.
Key Points
• Energy, healthcare, computers, and data science sectors drive job growth in 2024.
• Wind turbine service technicians and solar photovoltaic installers lead job growth due to renewable energy demand.
• Healthcare roles like nurse practitioners and medical managers are expanding with high earning potential.
• Data scientist and information security analyst roles are growing and are crucial for data management and cybersecurity.
• Operations research analysts and computer scientists develop innovative solutions but jobs require advanced education.
What Is Considered a Fast-Growing Job?
The BLS regularly projects which occupations will see the highest growth. The most recent data available predicts changes from 2023 to 2033. Some occupations grow faster than others as demand for those jobs rises. A fast-growing job is one that’s expected to grow at an above-average rate. Our list includes both on-site roles and remote opportunities. (Here’s a great roundup of more work-at-home jobs for retirees and stay-at-home parents.)
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Who Should Consider a Fast-Growing Job?
Fast-growing jobs are appealing to a wide range of people because it can be easier to find a position when there are more openings to go around. Companies may also be more likely to offer signing bonuses to attract talent.
However, it’s important to consider whether the current demand is sustainable over the long term. After large numbers of people rush to fill jobs in a specific industry, hiring may then taper off.
The economy is another consideration. A job that’s fast-growing in a healthy economy may be less so in a downturn or recession. In-demand jobs that are connected to entertainment, travel, or recreation, for example, may be less attractive if people are cutting back their spending on trips to the movies, vacations, or costly hobbies.
Every job has advantages and disadvantages, and fast-growing fields are no exception. Considering the potential benefits and drawbacks can help you to decide if pursuing a fast growing job makes sense for you.
Pros of Fast-Growing Jobs
Cons of Fast-Growing Jobs
More room for advancement at a faster pace
Accelerated job growth in newer industries may not be sustainable over the long term
Higher salaries if demand for qualified workers outpaces supply
Fast growth does not always translate to higher pay, especially in fields that don’t require higher education
Opportunity to get in on the ground floor of a new industry or sector that’s poised for long-term growth and development
May be more demanding in terms of the time involved and scope of duties
What to Expect in a Fast-Growing Job
One of the main advantages of a fast-growing job is that it may be easier to get hired when demand is high. Employers may also offer higher pay or enhanced employee benefits to attract talent. If a high salary is important to you, check out this list of the highest paying jobs by state.
On the other hand, landing a bigger entry-level salary isn’t guaranteed. Fast-growing tech jobs, for instance, will pay more than food service jobs even if demand is at a similar level.
If you do manage to snag a higher salary with a fast-growing job, it’s important to think about what you’ll be required to do in exchange for those paychecks. For example, accepting a role with a clean energy startup could pay well, but if the company is small, you might be expected to work well beyond the standard 40-hour week.
No matter the size of your paycheck, it helps to stay on top of your budget. A spending app lets you see all of your money in one place.
Top 10 Fastest-Growing Jobs in 2024
The BLS collects data on job growth and employment outlook across a variety of occupations. We’re breaking down the fastest growing jobs through 2033.
Job description: Also called PV installers, solar photovoltaic installers are responsible for assembling and maintaining systems that convert sunlight into energy. They may also connect the system’s solar panels to the electrical grid. This job may be salaried or hourly.
Job duties:
• Measure, cut, and assemble the support structure for solar panels
• Install solar modules, panels, and support structures, then activate and test the system.
• Perform routine PV system maintenance
Pros:
• Significant job growth is expected through 2033
• Higher education may not be required
• There may be opportunities for advancement in the field
Cons:
• Requires lifting and handling heavy equipment
• Candidates should have strong math and communication skills
• Must be comfortable with heights
3. Nurse Practitioner
Median pay: $126,260
Job growth outlook: 46%
Job description: Nurse practitioner (NP) is one of the fastest-growing healthcare jobs. NPs can act as primary care providers or specialty care providers in doctor’s offices, hospitals, and other healthcare facilities. NPs may specialize in a particular type of care, such as geriatrics or pediatrics.
Job duties:
• Assess patients to determine care needs
• Determine how to improve or manage patient health
• Develop strategies for implementing a plan of care
Pros:
• High earning potential (an all-in-one money tracker tool can help you stay on top of your money game)
• Well above-average job growth
• Opportunity to specialize
Cons:
• Potentially a highly stressful job
• Requires advanced education
• May require working long shifts
4. Data Scientist
Median pay: $108,020/year
Job growth outlook: 36%
Job description: Extract and analyze data. May collect or categorize data, offer interpretations of data, or create visual representations to showcase their findings. These individuals typically work in an office setting or from home. Because this role doesn’t require much interaction with customers or colleagues, it can be a good job for antisocial people.
Job duties:
• Collect and organize data
• Test data and use it to develop algorithmic models
• Analyze data to create recommendations for business entities
• Opportunity to work a flexible schedule or remotely
• May appeal to people looking for a creative-adjacent job
Cons:
• Some aspects of the job may be tedious or boring
• Hours can be long and require the completion of menial tasks
• Master’s degree or higher may be required for certain jobs
5. Information Security Analyst
Median pay: $120,360/year
Job growth outlook: 33%
Job description: Information security analysts review an entity or organization’s security measures and develop strategies for protecting and safeguarding data. This is one of the fastest-growing IT jobs as more companies turn their focus to increasing cybersecurity in order to prevent fraud or data hacks. This is a strong option if you need a job that will pay off your student loans.
Job duties:
• Analyze security measures in order to look for potential flaws or weak spots
• Develop cybersecurity strategies to enhance a company or organization’s data safety
• Maintain security software, including encryption and firewall services
Pros:
• Job growth may be sustainable long term as more companies seek to step up their cybersecurity efforts
• Salary ranges are competitive compared to other fast-growing jobs
• May offer opportunity for remote work
Cons:
• Some jobs may require a master’s degree or higher
• May be required to complete tasks on short notice
• Potentially stressful and high-pressure
6. Medical and Health Services Manager
Median pay: $110,680/year
Job growth outlook: 29%
Job description: Responsible for managing their facility and coordinating medical and health services for patients. Should be up to date on the latest laws, regulations, and technology in healthcare.
Job duties:
• Create and execute policies, goals, and procedures for facility
• Ensure facility complies with laws and regulations
• Recruit, train, and manage staff
Pros:
• Competitive salary
• Flexible hours
• Room for advancement for those interested in leadership roles
Cons:
• Hours may be long
• May be required to have a bachelor’s degree, a license, and/or work experience
• The job has a high rate of injury and illness
7. Physician Assistant
Median pay: $130,020/year
Job growth outlook: 28%
Job description: Responsible for examining, diagnosing, and treating patients under the supervision of a physician. PAs can work in a variety of settings, including a hospital, doctor’s office, outpatient care center.
Job duties:
• Examine and diagnose patients
• Prescribe medication
• Educate patients on their health issues
Pros:
• Can be rewarding to help care for patients
• Competitive pay, particularly for jobs at outpatient care centers and hospitals
• Can work in a variety of specialized areas, such as dermatology, pathology, or emergency medicine
Cons:
• Work can be physically and emotionally demanding
• May be required to work nights, weekends, or holidays
• Must have a bachelor’s degree or higher and be licensed
8. Computer and Information Research Scientist
Median pay: $145,080
Job growth outlook: 26%
Job description: Use expertise and experience to improve existing technologies and create new ones. The work can help fuel innovation and solve problems in science, medicine, and business, among other fields.
Job duties:
• Develop and/or improve computer software and hardware
• Create new computing languages and tools
• Design and oversee experiments on software systems
Pros:
• Opportunity to work on cutting-edge projects
• Ability to help create innovations and improvements
• Can specialize in various fields, including artificial intelligence or robotics
Cons:
• Much of the work is online, which could be an issue for extroverted people
• Most jobs typically require a master’s degree or Ph.D.
• May work long hours
9. Physical Therapist Assistant
Median pay: $64,080/year
Job growth outlook: 25%
Job description: Collaborate with physician therapists to help patients regain their mobility and manage their pain. PTAs may also be responsible for cleaning and setting up treatment areas or moving patients around the facility.
Job duties:
• Treat patients through exercise, massage, and other interventions, under the supervision of a physical therapist
• Record the patient’s progress and share progress with the physical therapist
• Help move patients in and/or out of treatment area
Pros:
• Solid earning potential
• May have the option to work part-time
• Helping patients recover can be professionally rewarding
Cons:
• Often requires standing for long periods of time
• Moving patients could put strain on the body
• May be required to work nights and weekends
10. Operations Research Analyst
Median pay: $83,640/year
Job growth outlook: 26%
Job description: Evaluate a company’s operations using advanced analytical and mathematical techniques, and recommend ways to increase efficiency and solve problems.
Job duties:
• Analyze data to identify or solve operational problems
• Provide recommendations to decision makers
• Document and present finding to support recommendations
Pros:
• May have opportunities for advancement
• Often work on teams, which can be a good fit for extroverts
• Can help businesses operate more efficiently
Cons:
• Advanced education and training are often required
• Role can be demanding
• May be required to work in the office
Fastest-Growing Jobs by 2025 Outlook
The fastest growing jobs in 2024 include all of the options listed above. Other jobs projected to have above-average growth through 2033 include:
• Occupational therapy assistants
• Actuaries
• Financial examiners
• Home health and personal care aides
• Veterinary assistants and laboratory animal caretakers
• Veterinary technologists and technicians
• Logisticians
• Veterinarians
• Substance abuse, behavioral disorder, and mental health counselors
• Epidemiologists
Which job skills will be most in demand in the future? According to the World Economic Forum, the following skills will be highly sought after by employers within the next few years:
• Analytical thinking
• Creative thinking
• Resilience, flexibility, and agility
• Motivation and self-awareness
• Curiosity and lifelong learning
• Technological literacy
• Dependability and attention to detail
Some of these are “soft skills,” meaning they’re based around communication and self-management. However, it’s clear that technological skills and computer skills will continue to be an important consideration for employers in the future.
The Takeaway
The Bureau of Labor Statistics regularly publishes lists of jobs with good potential for recent grads and career changers. This year’s list of the top fields for job growth include energy, healthcare, computers, and data science. It’s a wide range, with something for everyone. And while some roles require a college degree, others welcome high school grads.
Take control of your finances with SoFi. With our financial insights and credit score monitoring tools, you can view all of your accounts in one convenient dashboard. From there, you can see your various balances, spending breakdowns, and credit score. Plus you can easily set up budgets and discover valuable financial insights — all at no cost.
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FAQ
What is the most needed job in 2024?
According to the Bureau of Labor Statistics, nurse practitioners are among the fastest growing jobs for 2024 and beyond. That’s due largely to increased demand for healthcare providers during the pandemic era, but it was also one of the fastest growing jobs pre-COVID.
What job has the highest future growth?
The Bureau of Labor Statistics projects that wind turbine service technicians are set to see the highest job growth through 2033. As the country looks to reduce carbon emissions — and demand for electricity increases — more wind turbines are expected to be built. This will likely create more job opportunities for qualified service technicians who can install and maintain the equipment.
Which jobs will be in demand in the next 10 years?
Some of the jobs that will be in the highest demand in the next 10 years include nurse practitioners, wind turbine service technicians, data analysts, information security analysts, and medical and health services managers.
About the author
Rebecca Lake
Rebecca Lake has been a finance writer for nearly a decade, specializing in personal finance, investing, and small business. She is a contributor at Forbes Advisor, SmartAsset, Investopedia, The Balance, MyBankTracker, MoneyRates and CreditCards.com. Read full bio.
Photo credit: iStock/visualspace
SoFi Relay offers users the ability to connect both SoFi accounts and external accounts using Plaid, Inc.’s service. When you use the service to connect an account, you authorize SoFi to obtain account information from any external accounts as set forth in SoFi’s Terms of Use. Based on your consent SoFi will also automatically provide some financial data received from the credit bureau for your visibility, without the need of you connecting additional accounts. SoFi assumes no responsibility for the timeliness, accuracy, deletion, non-delivery or failure to store any user data, loss of user data, communications, or personalization settings. You shall confirm the accuracy of Plaid data through sources independent of SoFi. The credit score is a VantageScore® based on TransUnion® (the “Processing Agent”) data.
Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.
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.
If you’re interested in how to make extra income from home, today there are more opportunities than ever before. Some ways to earn extra income from home include side hustles, online businesses, and remote jobs. Finding the right money-making project for you just depends on your skills, experience, and interests.
We’re sharing some of the most popular ideas for how to bring in extra income from home in 2024 and beyond.
How to Make Extra Income From Home
There are a variety of ways to make extra income from home, many of which allow you to use the skills you already have. Others may require a little training or research to get started before you can begin earning supplemental income.
When comparing side hustles, business ideas, and work-from-home second jobs for extra income, consider:
• How much time is required to make money
• Typical earnings and how much you can expect to make
• What, if anything, might be required to get started
Timing can also influence the types of ideas you explore for making extra income from home. For example, if you need to make a quick $1,000, then selling things around the house can put cash in your pocket faster than starting an online business. If you need a little help staying on top of your side-hustle earnings, a money tracker app like SoFi’s can help.
And remember, the benefits of a side hustle go beyond making extra income. Side gigs can be a creative outlet, source of fulfillment, or a stepping stone to a new career. With that in mind, here are 23 of the best extra income ideas from home.
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1. Tutor
Tutoring can be a fulfilling way to make extra income from home for stay-at-home parents or students. There are numerous websites that connect tutors with students who need help with their school work. You can also offer tutoring to students locally in your home to make extra income.
2. Online Teacher
Teaching online is another popular work-from-home extra income idea. While tutoring may involve working with a single student one-on-one, you might teach multiple students online at the same time. For example, anyone can sign up to teach K-12 classes live via Zoom on Outschool.com. You don’t need a teaching degree or previous experience, though you will need to be able to pass a background check.
3. Course Creator
Course creation is one of the best passive income ideas for people who like teaching but don’t want to do it all the time. Platforms like Udemy, Skillshare, and Teachable allow you to create and upload virtual courses then sell them to people online. These types of platforms charge fees to host your course, but if you come up with a popular topic or idea, you can earn money from teaching online.
4. Sell Artwork and Designs Online
Selling artwork and designs can be a great way to earn residual income from home. For example, you can create unique designs and license them to a platform like Canva or Creative Fabrica. You earn money as people purchase licensing rights to use your designs.
Bookkeeping is an in-demand skill, and if you’re experienced at tracking accounts and managing financial statements, this can be a reliable way to make extra income from home. It’s possible to find virtual bookkeeping jobs online with companies that are interested in outsourcing their bookkeeping and payroll.
6. Low-Content Book Publishing
Low-content books are books that have little to no content inside. Composition notebooks and blank journals are two prime examples of low-content books. If you have a knack for design, you can create low-content books and upload them to a self-publishing platform like Amazon Kindle Direct Publishing (KDP). Amazon lists your books for sale and handles the printing and shipping for you. Meanwhile, you earn royalties for each unit sold.
7. Affiliate Marketing
Affiliate marketing is another option for earning residual income or passive income from home. Affiliate marketing simply means recommending products or services and linking to a sales portal. If someone purchases the product or service through your link, you earn a commission. You can try affiliate marketing through a blog or social media channels such as Instagram or Twitter. Just keep in mind that the Federal Trade Commission (FTC) has specific disclosure rules influencers are required to follow.
8. Copywrite or Edit
Copywriting is another high-demand skill as companies and businesses are often willing to pay good money for website or marketing copy. Editing is also something you might consider doing to make extra income from home if you’re skilled at writing and have a good eye for detail.
9. Data Entry
Work-from-home extra-income jobs in data entry might appeal to you if you’re good at typing and you know your way around databases or spreadsheets. It’s possible to find remote data entry jobs by searching job boards like Indeed.com or FlexJobs.
10. Start a YouTube Channel
YouTube is one of the most visible social media platforms. You might consider starting your own channel as a way to make extra income without leaving the house. To get started, you’ll need a decent camera and a great idea for content, and you’ll need to meet YouTube’s minimum requirements to monetize your channel with ads. You can also make money with a YouTube channel by selling digital products, creating sponsored content, and affiliate marketing.
11. Freelance Your Skills
Freelancing can span a wide range of work from home jobs for extra income. For example, you might work as a freelance photographer, website developer, or project manager. The great thing about freelancing is that you can apply skills that you already possess to make money while potentially increasing your income even more by learning new skills along the way.
12. Sell Your Photos
If you’re great with a camera, selling your photography is another idea for how to make extra income from home. Sites like Shutterstock, Foap, and SmugMug allow amateur and professional photographers to list photos for sale and earn money by selling licensing rights. You can study a range of websites that sell pictures to get an idea of which subjects are most popular and in-demand.
Print-on-demand is a terrific way to make passive income from home. With print-on-demand, you create unique designs and upload them to a POD shop. When someone buys an item, such as a coffee mug or tote bag, the POD shop prints your design onto it and ships it out to the customer. If you’re looking for a place to get started with print on demand, Redbubble, Society6, and Printify are a few sites you might consider.
14. Online Transcription
Transcriptionists make money by transcribing digital files into written or typed documents. Online transcription jobs can be a good way to put your typing skills to use, and there are even remote work opportunities out there for beginners. You may need to purchase special transcription software to start this work-from-home idea, but with the right gigs, you can easily make a part-time income from home.
15. Get Paid to Proofread
Proofreaders review written documents for spelling errors, grammatical errors, and typos. The work that they do is similar to copyeditors though it’s more focused on finding flaws in the mechanics of a piece of writing, rather than issues with tone or flow. Remote-work job boards can be a good place to begin looking for proofreading jobs for beginners.
16. Virtual Assistant
Virtual assistants help business owners run their companies. You might do a variety of things as a VA, including managing email, setting appointments, keeping track of scheduling changes, posting social media content, or copywriting. This is another low-cost side hustle you can start from home as long as you have an internet connection and a laptop.
17. Start a Blog
Blogging is not necessarily a way to get rich quick, but it can be a way of making extra money from home. There are different ways blogs can earn money, including ads, affiliate marketing, sponsored posts, product sales, and services. If you’re interested in starting a blog, you might want to spend some time on YouTube checking out tutorials to see what you’ll need to get up and running.
18. Get Paid to Chat
Remote chat operator jobs and remote customer support jobs are a fun way to put your people skills to work while earning extra income from home. Plenty of companies hire people to handle customer support via live chat or by phone from the comfort of their own home. This can be a good flexible job option for a stay-at-home parent.
19. Pet Sit
Pet sitting might be a perfect way to earn extra income from home if you love cats or dogs. You can advertise your services locally as a pet-sitter or dog walker, and make money according to a schedule that works for you.
Cash back apps pay you back a percentage of what you spend, either in cash or points that can be redeemed for cash or gift cards. For example, you might use a cash back app to earn 5% back when shopping for clothes at your favorite online retailer. Cash back apps are an easy way to make extra income from home doing things that you’re already spending time on.
21. Babysit in Your Home
In addition to pet-sitting, you might consider offering child care or senior care services in your home. If you’re planning to keep multiple children in your home, you’ll want to first check your state’s laws. Once you reach a certain number of children, you might be considered a daycare, which means you’ll need to get licensed and be regulated by the state.
22. Grow a Garden
Gardening can be a relaxing hobby, but it also has potential to be an excellent way to make extra income from home. You can sell the fruits and veggies that you grow at your local farmer’s market or to people in your neighborhood. Depending on where you live, you might even be able to branch out and raise chickens so you can sell fresh eggs for supplemental income.
23. Bake or Prep Meals
If you love to bake or are a pro at meal planning, you might be able to monetize those hobbies and skills to earn money at home. For example, you can sell your homemade baked goods at your local farmer’s market or craft fair, or to local restaurants. You can also sell readymade meals to busy parents and seniors who need a little help with cooking. Just be sure to check any regulations regarding home kitchens that might apply where you live.
Reporting Extra Income on Your Taxes
Finding ways to make extra income from home can offer some financial breathing room, but it’s important to consider the tax consequences. IRS rules require you to report side hustle income or money earned in the gig economy on your taxes, even if you make money at home. Generally, there are two rules to know about reporting extra income:
• Form 1099 must be issued when gig earnings exceed $600.
• Gig workers may be required to pay estimated quarterly taxes.
Unless you’re specifically hired as an employee of a company that you’re doing work for, then the IRS considers you to be an independent contractor. You’ll need to keep track of all your earnings throughout the year and make sure you’re reporting them accurately on your taxes when you file.
You’ll also want to include receipts for any expenses you might be able to deduct. For example, if you’re making extra income from home as a freelance writer and you need to buy a new laptop, you may be able to write that off as a business expense. Or you may be able to deduct home office expenses.
Downloading a free budget app can make it easier to keep track of your business or side gig expenses. If you’re unsure how to handle a tax return with extra income, you may want to talk to a tax professional.
The Takeaway
Making extra income is one of the main benefits of a side hustle, though you may also want to start a second job as a creative outlet. Today, there are many flexible work-from-home gigs for all sorts of skill sets and backgrounds. Some require training or certification, but many can be started with just a laptop and dream. Ideally, you can leverage a hobby or passion into a side job, such as meal-prep, pet-sitting, childcare, design and photography, and more.
Take control of your finances with SoFi. With our financial insights and credit score monitoring tools, you can view all of your accounts in one convenient dashboard. From there, you can see your various balances, spending breakdowns, and credit score. Plus you can easily set up budgets and discover valuable financial insights — all at no cost.
SoFi helps you stay on top of your finances.
FAQ
How can I make an extra $1,000 a month?
Some of the best ways to make an extra $1,000 a month are freelancing, blogging, monetizing a YouTube channel, and selling digital products. These are all extra income jobs that you can do entirely online. You may also be able to make an extra $1,000 a month by pet-sitting, making homemade baked goods, or selling things around the house you no longer need.
What can I do for an extra income?
There are lots of different ways to make extra income. You could start by increasing your hours at work if you get paid on an hourly basis. Or you might negotiate a pay raise at your current job. You can also get a second job, start a side hustle, get paid to do gig work, or start an online business.
What is a good side hustle?
The best side hustle for you is the one that works for your schedule and allows you to use the skills you have to make a good income. That said, good side hustle options include freelancing, editing and copywriting, blogging, and taking surveys online for cash or gift cards.
About the author
Rebecca Lake
Rebecca Lake has been a finance writer for nearly a decade, specializing in personal finance, investing, and small business. She is a contributor at Forbes Advisor, SmartAsset, Investopedia, The Balance, MyBankTracker, MoneyRates and CreditCards.com. Read full bio.
Photo credit: iStock/Alessandro Biascioli
SoFi Relay offers users the ability to connect both SoFi accounts and external accounts using Plaid, Inc.’s service. When you use the service to connect an account, you authorize SoFi to obtain account information from any external accounts as set forth in SoFi’s Terms of Use. Based on your consent SoFi will also automatically provide some financial data received from the credit bureau for your visibility, without the need of you connecting additional accounts. SoFi assumes no responsibility for the timeliness, accuracy, deletion, non-delivery or failure to store any user data, loss of user data, communications, or personalization settings. You shall confirm the accuracy of Plaid data through sources independent of SoFi. The credit score is a VantageScore® based on TransUnion® (the “Processing Agent”) data.
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.
Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.
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.
