Here’s what you need to know.

Overview and key takeaways

• An affidavit is a sworn, written statement that can be used as evidence in legal proceedings. 
• In many jurisdictions (but not all), an affidavit must be notarized to be legally valid. 
• Making false statements in an affidavit can result in serious legal consequences, including potential perjury charges, so it’s important to be as accurate as you can.
• Be sure to keep your affidavit on file along with any other legal documents.

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Affidavit definition and examples

An affidavit is a voluntary, legally binding written statement of facts made under oath and generally verified by a notary public or other authorized official. When you sign an affidavit, you’re declaring that everything in the document is true to the best of your knowledge, making it a powerful legal tool that courts and government agencies rely on for verified information.

Affidavits may be requested for:

• Insurance claims
• Lost official documents
• Custody disputes
• Estate and probate matters
• And many other legal proceedings

Key components of an affidavit

Affidavits need to contain certain essential elements to be considered legally binding. While the requirements can vary from place to place, most affidavits need to include some form of the following three things.

1. Background information of the affiant

The affiant (the person making the statement) must provide complete identifying information in the document. This includes their full legal name and current address as well as a brief statement about how they’re connected to the case or matter at hand. 

The important thing is to establish your identity with enough certainty that the court (or government official) can rely on it.

2. Statement of facts

The heart of the affidavit is the statement of facts that you’re swearing are true. The statement should be clear and concise, written in first person (“I did this”; “I saw that”), and ideally organized into numbered paragraphs. 

Most importantly, the affidavit should be limited to facts that you personally know to be true, not things you only believe are true because you heard them from someone else. It’s important not to include any opinions or conclusions unless they’re specifically required by the circumstances of the case.

3. Notarized signature or other verification

The signature section completes the affidavit. It includes the affiant’s signature and the date of signing as well as the notary public’s signature and official seal. In some cases, signatures may also be required from people who witnessed you signing the statement.

Why your affidavit needs to be accurate

The accuracy of your affidavit isn’t just about good record-keeping — it’s a legal requirement with serious consequences for non-compliance.

What could happen if it isn’t

Making false statements in an affidavit can lead to perjury charges and criminal penalties, including fines and possible jail time. Your related legal proceedings could be dismissed, and your credibility in future legal matters may be permanently damaged. 

You could also face civil liability for any damages caused by your false statements — meaning you could be sued in court by the person your false affidavit harmed.

Different types of affidavits

Affidavits serve various purposes in legal and administrative proceedings. Here are some common types you might encounter:

Affidavit of identity

Like you might expect, an affidavit of identity serves to verify someone’s identity for various official purposes. It’s commonly used when opening bank accounts or applying for government benefits. These documents are also essential for correcting official documents and claiming inheritance or property. 

Affidavit of support

Affidavits of support are particularly important in immigration cases. They demonstrate (and promise) the affiant’s financial ability to support someone, and they establish the relationship between the parties. They typically include information about living arrangements and financial documentation to prove that the supporter can meet their stated obligations.

Affidavit of service

An affidavit of service provides proof that legal documents were properly “served,” or delivered. It records the date and time of delivery along with the method of service used. The document includes detailed information about the recipient and the server’s confirmation of delivery, creating an official record of proper legal notification.

Affidavit for divorce or custody

Don’t confuse an affidavit for divorce with a more general affidavit used in a divorce. An Affidavit for Divorce is a specific form in some jurisdictions that can have specific legal consequences. But many divorces require general affidavits, which aren’t different from any other affidavit — they’re just asking for specific information, such as statements about your financial situation or child custody arrangements.

If you’re ever in doubt about a specific affidavit or any other legal document, consult an attorney who’s licensed to practice law in the relevant jurisdiction.

How to write an affidavit

While the specific steps can vary depending on where the affidavit is being used and what’s required, these general guidelines can help.

Step-by-step guide to drafting

1. Consider giving your affidavit a title to help the court identify your document.
2. Identify yourself, including who you are and where you live.
3. Briefly explain your relationship to the matter at hand.
4. Write your statement of facts in clear, numbered paragraphs.
5. Try to keep it organized — be willing to go through a few drafts before your affidavit is finalized.
6. Once you’re satisfied with it, be sure to wait and sign it in front of a notary (or any other official and/or witnesses that may be required).

Why do affidavits need to be notarized?

A notary public will review your identification (such as a driver’s license or passport) before notarizing your statement. Their notary signature and seal help to assure the court that the person who signed the affidavit is who they claim to be.

Before notarizing an affidavit, the notary will:

• Verify the identity of the signer
• Confirm that the signature was made willingly
• Confirm the date of signature
• Apply their signature and seal to the affidavit

How to file an affidavit

Filing requirements vary depending on the purpose and jurisdiction of the affidavit. If the affidavit is for a legal proceeding, the attorney who requested the affidavit will probably want to file it for you.

FAQs about affidavits

What is the purpose of an affidavit?

An affidavit serves as sworn testimony in writing, allowing courts and other authorities to rely on statements made outside of court. It creates a formal record of facts that can be used as evidence in legal proceedings or to support various applications and claims.

Can I notarize my own affidavit?

No, even if you’re a notary public, you can’t notarize your own affidavit. This would create a conflict of interest, violate notary laws, and render the affidavit invalid. Always have your affidavit notarized by an independent notary public.

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What is business credit?

Business credit represents your company’s ability to borrow money or acquire financing. It’s similar to personal credit but specifically linked to your business instead of your personal finances. 

Your company’s credit score is used by lenders, suppliers, or other potential partners to assess the potential risk of working with you.

If a bank loans your business money, how likely are you to pay that loan back in full? A higher business credit score means your business is more likely to manage any new credit responsibly.

Why does a good business credit score matter?

A good business credit score shows the world (or at least lenders) that your business is doing well and can be trusted. This helps you access the funds you need when you need them, for things like buying new inventory or equipment. 

Sometimes, in the act of doing business, we have to pay for things to do the job before we receive any money from a client. So there’s a gap between the time the cash goes out and the time the cash comes in — credit can help you bridge that gap, giving you a way to pay for things until that money comes in.

Also, like getting a discount at a store you often buy from, you can get better interest rates & terms on loans and credit cards. 

What’s a good business credit score — and where can you see yours?

A good business score depends on where you look. Several major credit bureaus report credit scores for businesses, and each one uses a different scale.

Let’s walk through them.

Who reports business credit scores?

There are four main places you could get your business credit score: 

1. Experian’s Intelliscore Plus — Scores from 1 to 100. The higher the score, the better.
2. Dun & Bradstreet PAYDEX Score — Same as Experian
3. Equifax’s Small Business Credit Risk Score for Financial Services — Uses a rating system that ranks scores from 101 to 992.
4. FICO’s small and medium enterprise (SME) scores — Scores run from 0 to 300.

How business credit scores are calculated

Different agencies use different methods, but the core elements they focus on don’t change a whole lot from one to the other.

Here’s a breakdown of the main factors that affect business credit scores.

Payment history

The most significant factor for business credit is how good your business is at paying its bills on time and in full — whether that’s loans, credit cards, or trade accounts. If you’ve been paying all your bills on time, it’s much more likely that you’ll pay any new bills or loan payments on time too.

Credit utilization

This refers to how much of your available credit you’re using. If you’re close to maxing out your business credit cards, that might mean your company is in financial trouble. If you’re well under your limit, that’s more likely to be a sign of financial health.

Keeping your credit utilization low — ideally below 30% — is considered good practice.

Debt-to-income ratio and outstanding balances

The amount of outstanding debt your business has matters, especially in relation to how much revenue you’re bringing in. A company that brings in $1M per year can generally carry a lot more debt than one that’s bringing in $60,000.

If you have a lot of outstanding debt compared to your revenue, your business could struggle to pay back any additional debt.

Length of credit history

The longer your business has been around and responsibly using credit, the better. Lenders like to see a track record that proves you’ve managed your finances well for a long time.

A newer business will have less credit history, but they can build business credit with tools like secured lines of credit or equipment loans that are often easier to get than other forms of financing.

Public Records

Business credit bureaus also consider any negative public records about your business, such as bankruptcies, tax liens, or judgments. These items tend to hurt your score a good bit if you have any.

Industry risk

The type of business you’re in can also influence your score. Some industries are considered riskier than others, so if you’re in a tough industry, that could bring your score down a bit.

Still, it’s not as big a factor as the ones listed above.

Company size and revenue

Larger companies or those with higher revenues may be viewed as less risky. This isn’t necessarily a direct part of the score calculation, but it’s often used by lenders when deciding whether to extend credit to a company that’s requesting it — like for a loan or new credit card.

Steps to build business credit

Like with personal credit, there are a few things you can do consistently to ensure you get recognition for your good business practices, such as paying on time and strengthening your credit history.

Let’s walk through them.

Step 1. Establish your business entity

First, ensure your business is legit! Register your business and obtain the necessary state and local licenses to operate. You want to make sure everything about your business is legal and that you’re operating with the proper approvals from state and federal officials.

This is also a great time to put together a business plan. Potential lenders will want to look at your goals, your business’s practices, how you plan to grow, and how you’ll use their financial support practically and responsibly. A strong plan shows that you mean business — literally!

Step 2. Obtain an EIN (Employer Identification Number)

After registration, you can go online and apply for an Employer Identification Number (EIN). This is essentially just a social security number but for your business.  It works as a tax reporting number so it’s important for your business credit.

Be sure to use the official link through the IRS. It’s free.

Step 3. Open a dedicated business bank account

With your EIN in place, it’s time to set up a secure bank account for your business. It’s important to keep your personal financial records separate from your business records since it’ll help when you’re reporting back to the IRS. Plus, a dedicated business account helps with keeping an eye on your business’s cash flow and preserves its financial credibility.

Step 4. Get a D-U-N-S^® number

The role of Dun & Bradstreet

Let’s talk a little bit about Dun & Bradstreet and its role in business credit. Like Experian and Equifax, they collect information about how consistently companies pay their bills and how well they’re doing financially. Lenders and other businesses look you up by your D-U-N-S number to decide if they should lend money or do business with a company.

Obtaining a D-U-N-S^® Number

• There are four simple steps to getting a D-U-N-S number:
  1. Check if you already have one: Go to the Dun & Bradstreet website and search for your business.
  2. Gather your information: Submit your business name, address, phone number, and other details. Your business details need to be in the public record, so if you’re a new LLC, you may have to wait a couple of weeks for your company to show up online.
  3. Apply online or by phone: Fill out the application on the Dun & Bradstreet website or call their number.
  4. Wait for your number: It usually takes a few days to get your D-U-N-S number.
• When you receive your D-U-N-S number, pay attention to your Duns & Bradstreet Paydex score. It shows how well your business pays its bills on time and assesses your reliability overall.

Step 5. Build business relationships with vendors

What trade credit is and how it affects your business credit score

Trade credit is like borrowing money from a vendor or supplier to buy something you need for your business and paying it back later. It’s a way for businesses to get things they need without paying cash upfront.

Trade lines work as a record of these borrowing agreements. They show how well a business pays its bills on time. It’s important to get these trade lines reported to the various bureaus.

How to establish trade credit and the importance of paying on time

Paying your trade credit bills on time helps build good business credit. It’s like proving to lenders that you’re responsible with money. So, using trade credit wisely can improve your business’s financial reputation and improve creditworthiness.

Step 6. Use business credit cards

How a credit card can help you build business credit

A business credit card is an awesome tool not only to get needed funds for your business but to also prove credit history and utilization. Timely payments can show your lenders that you can take care of your credit responsibly. To start, you can test out a secured credit card where you make a small deposit and borrow against those funds. This helps in developing a sense of how well (or not!) you spend your money, and how resourceful you are with credit when it comes to your business.

Business credit card options when you’re a new business owner

You should know that getting a business credit card may not be easy — banks want people to be in business for a while. For this reason, your first business credit card may be secured.

My first business credit card was secured. All I did was put $5,000 in an interest-bearing savings account, and I was given a card with a $5,000 credit limit, which I religiously paid off every month. After a year, they increased my limit without me having to increase my savings. I still have a high-dollar credit card with that bank, even if they’ve long since given me my initial deposit back.

Pro tip: Use these cards as tools to build credit, not as an excuse to spend thousands of dollars. Repay your credit debt on time but consider carrying over smaller balances. This helps to boost your credit score while maintaining a reliable and seasoned credit history. 

Step 7. Consider a business loan or line of credit

Types of business loans

There are three basic loans available to small businesses:

• SBA loans: Loans are backed by the government, making them easier to get for small businesses. They offer various types of loans for different needs like starting up, expanding, or buying equipment for your locations.
• Term loans: A lump sum of money you borrow from a bank or lender and pay back in installments over a fixed period of time. These are the most common loans and are good for big purchases like equipment or real estate.
• Lines of credit: A borrowing limit. You can borrow money up to that limit as needed and pay it back as you go. It’s great for managing cash flow and unexpected expenses, such as needing to buy a new software tool or hardware to complete a job. 

Qualifying for a loan

Lenders look at a few key things when deciding to give your business a loan:

1. Your business’s financial health: The banks and lenders analyze things like your income, expenses, and profits to make sure your business can handle the loan and you operate with fiscal confidence.
2. Your business credit score: This shows the banks how well you pay your bills.
3. Your business plan: Have a business plan ready to show banks how you’ll use the money they give you and your means of making it back.
4. Your personal credit score: Lenders may look at your personal credit, especially for small businesses.

Step 8. Monitor business credit reports

Understanding credit reports

Your business’s credit report looks at: 

• Payment history: How well your business pays its bills on time. 
• Credit utilization: How much of your available credit you’re using. 
• Public records:  How your public trust and reputation stand, looking into any lawsuits, bankruptcies, or liens against your business. 

Checking your credit regularly

Stay on top of your business credit reports so you can address any problems immediately. Use a trusted service to help you explore new credit opportunities and check your scores consistently.

If you find an issue on your credit report, do this:

1. Gather evidence: Collect documents that support your dispute, such as receipts, payment confirmations, or court records.
2. Contact the credit bureau: Submit a dispute letter to the credit bureau that outlines the erroneous or problematic information. Include your business details, account numbers, and a clear explanation of the error.
3. Follow up: Wait for the credit bureau’s investigation. If the error isn’t corrected, you can dispute it again or contact the original creditor.
4. Add a dispute statement: You can ask the credit bureau to add a statement explaining your dispute to your credit report.

Step 9. Maintain strong financial management

Accurate record keeping

Never underestimate the power of consistent and accurate business records. Remember, “if it’s not written down, it doesn’t exist!” Don’t wait until you get audited by the IRS to realize your records are woefully slim or incorrect.

Cash flow management

Using business credit cards and lines of credit strategically can help improve the cash flow of your business. If you use credit as a tool and buy things that are needed at the right time, such as the beginning of a project, by the time the client pays, you can pay off high credit balances and not incur more interest.

Keeping your business credit separate from your personal credit

Building business credit is not the same as building personal credit — you’re building credit for your business, which is seen as a separate entity. You should always keep your business finances separate from your personal, making sure you have separate accounts for each.

Business credit vs. personal credit

Imagine business is like going to school.

Business credit is like a report card for your company. It shows how well your business handles the money coming in and going out. 

Unlike your personal credit score, which is about you, your business credit score is about your company’s financial health. Building good business credit helps you get loans and better deals, allowing for flexibility and improved options when it comes to your financial dealings. 

Does business credit go on your personal credit?

Usually, your business credit doesn’t affect your personal credit. But, if you personally guarantee a business loan, your personal credit could be on the line if your business can’t pay. 

While your personal credit might be looked at when you start a business, it shouldn’t heavily influence your business credit over time. 

Final thoughts

Building business credit takes time and consistency. Pay off high balances on time. Keep accurate records. Check your credit reports regularly.

If you feel overwhelmed, it may be time to hire some help, like a bookkeeper, accountant, or business credit specialist. 

The Small Business Administration (SBA) may even be able to help. They have resources and people ready to help you when you need them.

If there’s one thing we can say with absolute certainty, it’s that the gig economy in America is shaping the way we as a society earn a living. Whether you’re just trying to pad your savings with a side hustle or hustling to pay your bills, there are plenty of ways to make quick money in one day. 

While most of these methods won’t buy you a property on Park Place, they can help you stay afloat, earn extra cash, and work toward actualizing your financial goals.

1. Become a rideshare driver

It’s no secret that ridesharing still remains an incredibly popular service for consumers. With 118 million users worldwide, Uber has plenty of customers looking for a ride — a great side gig for someone who enjoys driving.

Have a car and some spare time? Sign-up couldn’t be easier! With the ability to set your own hours, driving for Uber or Lyft pays drivers a base rate plus distance, time, and rider tips — it can even pay double or triple during peak hours.

Do you live in a city with a bustling nightlife scene? How about an area with a big event center, arena, or active airport? These can be great spots to pick up fares and make extra cash on each journey.

All you need to drive a rideshare is a valid license, active insurance coverage, and an approved vehicle, which is determined by the ridesharing app and your geographic location. With gas prices showing hints of dropping a bit across the country, rideshare driving remains a great option to make some extra cash.

2. Focus on freelancing

Do you have a unique, computer-based skill set? Maybe you’re a fabulous blogger with a knack for writing compelling copy. Perhaps you have a brilliant eye for graphic design. Good news — you can leverage these skills to make money online!

Sites like Upwork, Fiverr, and Toptal serve as marketplaces for freelancers to create a profile, network with hiring managers, and find work. With the ability to set your own hours and decide how long of a project you’re willing to commit to, freelancing puts you in the driver’s seat and can help pad your income. 

Sign-up is easy — just create an account, upload your personal information, education, and experience, and attach some samples of your work. With sites like Upwork and Toptal, you can reach out to hiring managers directly, giving you an opportunity to sell yourself, set your rate, and get a contract to make some side money.

The great thing about freelancing is that the more experience you get, the more you can charge, and the higher your demand will be — you could even transition to full-time.

3. Sell unused gift cards

Gift cards are offered by almost every retailer these days — you can find them everywhere. Not a reader but have a $45 gift card to Barnes and Noble? Or maybe you won a $150 Cheesecake Factory gift card in a raffle, only to find out that the closest one to you is 300 miles away. Fortunately for you, there are quite a few websites that will buy your unused gift cards!

Let’s get it out of the way right now — you won’t receive the full balance for the gift card. However, online platforms like CardCash will buy your unused gift cards, or even offer you the option to trade them for a gift card to a retailer that you frequent. While you may only receive up to 92% percent of your gift card’s value, it’s much better than letting it sit in your drawer unused.

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4. Carsharing or parking spot rentals

Don’t feel like driving as a rideshare provider? Renting your car is another option to earn passive income. You can host with Turo, giving you the option to lease your car to people using the service. The average income for hosts with one vehicle is just north of $10,000 — no small chunk of change! The service will insure your vehicle and can offer support via their app. 

If you’re on the go most of the time, consider renting out your parking spot to drivers to make some extra cash. Many metro areas around the United States are experiencing an influx of people moving in as well as tourism, which makes parking scarce. Whether you have a garage, an on-street spot, or a designated parking space, you can add a price tag for people to use your spot — people will pay good money!

5. Send app referrals

The latest and greatest app is always being developed, and in many instances, you can get paid for referring friends and family to new apps or subscriptions and make money fast.

CashApp, the money transfer app, includes a link to a QR that you can send to a recipient inviting them to join the platform. Once they sign up, you can both receive a $5 bonus for using the service, with a cap of $35.

Ibotta offers a similar referral cashback incentive for new and existing users, with users receiving a $20 sign-on bonus plus $10 for every additional referral!

While app referrals aren’t the most lucrative way to earn free money, it’s important to remember that each little bit adds up. Take your extra side income and put it into a savings account — every cent helps! 

6. Find unclaimed money

As the years roll by, you may be owed money and not even know it! It’s easy to lose track of your money coming and going, but fortunately, you can look up your status on both state and federal databases. From there, you can check and see if you’re owed any money — this could be from the state comptroller, a former employer, insurance, tax funds, banking and investments, and many more. 

To claim your funds, you’ll need to verify your identity. This may include mailing documentation if you’re out of state. From there, you can follow the instructions for the claims process and submit everything to receive your unclaimed funds — some states even issue prepaid debit cards!

It may take some time before you receive your funds, but it’s worth taking a look to see if there’s any unclaimed money out there waiting for you.

7. Deliver groceries or take out

If you don’t feel like your taxi driver dialogue is up to snuff, never fear — you can always deliver food instead! Delivering groceries with Instacart is a great way to earn fast cash, with the ability to set your own hours and work as much (or as little) as you’d like.

Simply sign up as a Shopper, get approved, and start working. You’ll need access to a vehicle, a license, the ability to lift 50lbs, and regular service with a smartphone or similar device. After you head to the grocery store, you deliver the order to the customer and get paid out the same day. 

Uber Eats, PostMates, and DoorDash offer great flexibility and good pay — you can make as many deliveries as you like. After sign-up and approval, you can begin working immediately. Simply log into the app, set yourself as “active”, and watch the orders come in. If you work on busier nights like Friday or Saturday, the tips can really add up. 

Make your cash go even further with these 13 great ways to save money.

8. Sell your clothes online

The benefits of decluttering have been well-documented, but have you considered making extra money by getting rid of clothing you no longer wear? There are many online platforms like Depop, Poshmark, and Grailed that let you sell your clothing to a substantial built-in customer base.

The process is simple — all you need to do is sign up, list your clothing, set your price, and watch it go! A helpful tip is to measure the dimensions of your clothing to make sure the buyer knows exactly how large the garment is. We all know how dryers like to shrink clothing.

The listing site will take a percentage of your transaction for hosting the sale, but if you’ve got a closet full of unworn clothing, it’s a great way to make extra cash. Some retailers do it full-time and make a lot of money! If you have any clothes that are well-loved but not quite sellable, consider donating them to your local thrift store.

9. Purge your house

So you’ve conquered your closet — now what’s next? Take this party to the rest of your home! Do you have any kitchen appliances you’re not using anymore? How about some workout equipment collecting dust?

You can sell it all and make some quick cash. If you’ve got plenty of items you’re trying to sell, you could opt for a quick yard sale — you can advertise on social media and local classifieds to let people know. 

Facebook Marketplace, eBay, and Craigslist are great online platforms to sell your items, and they also have great viewerships who regularly search the sites. It’s really easy to list something for sale — just write your description, set your price, and post.

If you reach an agreement, be sure to meet the buyer somewhere public to complete the transaction. Who knew work from home could be so easy?

10. Walk a dog

Are you fitness-focused and love dogs? Getting paid to walk dogs can help keep you in shape, allow you to spend more time with cute pups, and help you earn extra money! Check out apps like Rover or Wag!, which pair pet owners up with people like you and pay for your time.

You can take the pooch around the block for regular exercise, or you can also board and look after the dog when its owners are out of town — a no-brainer if you’re a dog lover. Rates usually range between $15-18 an hour.

You can also offer your services to private clients, which can be more lucrative than using apps. By providing your own dog-walking or pet-sitting service, you can work more consistently and set your own hours, which can provide more regular income.

Advertising your service on Craigslist or Facebook can help spread the word — you may also want to check community boards at your local pet store or vet’s office. 

11. Complete online surveys

If you’re trying to maximize your income by any means necessary, then you can definitely look into taking surveys online. By just answering questions on survey sites, you can pad your income with minimal effort.

While we should consider the disclaimer that they don’t pay much outright, every little bit helps. SurveyJunkie is one of the forerunners for survey sites — the more you complete, the more points you accumulate, which eventually add up to your ultimate payout.

You can cash out to gift cards for retailers like Amazon, iTunes, and Target, or get paid cash directly to your PayPal account.

You can also watch videos, do user testing for new sites or apps, or share your browsing history with platforms like Swagbucks or InboxDollars, which also works on a points-based system like SurveyJunkie.

Consistency is key with survey-taking — the more you do, the more points you’ll accumulate, and the higher your cash-out will be.

We conducted a recent survey and came up with 8 ways to fight inflation and keep your finances on track.

12. Flip cheap finds

Remember our yard sale tactic above? Here’s a role reversal — you can find consumer goods for cheap at garage sales, flea markets, eBay, Facebook Marketplace, and Craigslist and flip them for extra profit.

While this takes some effort, it can be especially lucrative if you have a background in a certain area, like musical instruments, baseball cards, electronics, or antique items.

Start by scouring online retailers, local thrift stores, and yard sales for hidden treasures. Maybe you’ll find a flawless vintage synthesizer or a Michael Jordan rookie card for next to nothing! Flip it, and the profit is yours.

Big box retailers can also offer great finds in their clearance sections that are worth buying and flipping on Amazon via their FBA program, which stands for Fulfillment by Amazon.

This service lets you help businesses source products for fulfillment and gives sellers incentives to work with Amazon, such as free shipping, returns, and product storage. Helping companies with their dropship campaigns on Amazon by sourcing items can be a great way to maximize your earnings.

13. Help people move

There’s really no way around it — moving is tough. At best, it’s a serious task, and at worst, a complete nightmare! While many folks try to enlist friends, it can be hard to move an entire home with just two to three people.

If you’re able-bodied and willing, making money as a mover can be a great avenue to earn supplemental income. Take a look at your local classifieds or job posting boards to see if any companies are hiring movers — it’s usually an all-day commitment, but it can be fulfilling work that can bring in serious tips.

If you’d prefer a solo option, you can advertise your services online or on community corkboards as a freelance mover for hire — a couch-lifting mercenary ready to help others settle into their new home!

You can strike an agreement with the people you’ll help move for a fee; this can be especially lucrative if you have a large vehicle that can carry cargo. If you’re well-prepared, the move shouldn’t take more than five or six hours, offering you plenty of flexibility and a great way to earn more cash. 

14. Tutor students online

The COVID-19 pandemic really affected the way we communicate globally, with education existing solely on online platforms for the better part of two years. Students today are well-versed in learning remotely, which can afford you the opportunity to tutor online!

Browse online teaching platforms for openings. Tutor.com is a great resource. Depending on your education, background, and experience, you can help a student learn anything — history, mathematics, science, technology, and more. In many instances, you can earn anywhere from $15-60. 

If you’re a native English speaker, you can also consider TEFL, or teaching English as a foreign language, online. While TEFL has historically offered teachers an opportunity to instruct in foreign countries, there are jobs available online as well.

These positions require a certification, which can be earned remotely. Teaching can be a very gratifying experience and will also help immensely in padding your income. 

15. Open a bank account

Did you know you can earn extra money just by opening a new bank account or credit card? While there are terms and conditions that apply, registering with a new bank and opening an account can add a little extra cash to your ledger balance. At the time of this writing, for example, you can open a new checking account with Chase Bank Total and get a $200 bonus offer for setting up direct deposit — with no minimum deposit requirement. 

If you’ve got a nest egg saved up, you might consider opening an online savings account with Discover. With a deposit minimum of $15,000, the price for entry is pretty steep. However, Discover will pay you $150-200 for opening the account and doesn’t require direct deposit. This can be a good option if you have your savings sitting in an account and you’d like to be paid simply for moving it to a new institution.

Sign-up bonuses for credit cards can definitely help you get money today, but they often don’t kick in until after you spend a certain amount — which can ultimately hurt more than help if you’re trying to save.

Need help deciding which type of bank account to open? Take a look at this guide to find the best option for you.

16. Sell your artwork

Creating art can be extremely fulfilling for both the artist and the consumer — and it can also serve as an extra source of income for the creator.

If you make art, you can consider selling it. For visual artists, sites like Etsy, Shopify, Shutterstock, or even Amazon can provide you with a thriving marketplace to sell your art. You name your price, list it, and ship it all through the app — but bear in mind that the hosting platform will take a percentage of your sales.

If your medium is musical, you can consider selling your music on Bandcamp. After creating an account, contributors can upload a song, EP, or record, add a price, and the site will allow users to purchase your tunes from their website. You can link your PayPal or bank information, making payment a breeze. The platform also includes unique insights like user location and streams, letting you see where your music is a hit.

17. Work as a virtual assistant

Working as a virtual assistant can be a great way to earn extra income from a remote setting. If you’re unfamiliar with the role, a virtual assistant provides support to their employers by assisting them in various administrative tasks like calendar and schedule management, document and file management, travel arrangements, and much more.

The role requires a computer and space to work — you could take calls from the comfort of your home, or work in a coffee shop or co-working space. Whether you want to work part-time or even transition into a full-time job, virtual assistant work has plenty of opportunities.

Virtual assistants are indispensable for many different companies, and due to the diverse nature of the role, it’s a great opportunity for all types of backgrounds. If you’re interested, you can take a look at hiring sites like Indeed or LinkedIn, where you can send your resume and apply. You can also work part-time, which makes this gig a great side hustle to earn extra cash. 

18. Participate in focus groups or research studies

Joining a focus group panel is a great way to make money quickly. Broadly speaking, a focus group is a group of random people who are asked about their interest in and opinions on a product, service, or concept. It’s an especially valuable survey tool for organizations and companies conducting market research. The people leading the focus group will usually pay attendees for their time, which can range anywhere from $50-400. 

If you live near a major university, chances are it’s conducting regular academic research and will need participants. Depending on the program’s funding, these opportunities often pay participants for their time. Many universities also offer online opportunities for research. Take a look at local colleges and universities near you to see what’s offered.

19. Rent your home

If you’ve got extra space or a small guest home, you can easily earn passive income by renting your property to guests traveling in from out of town. Airbnb has revolutionized the hotel industry by allowing everyday property owners to lease their place — a game-changer for those who live in cities where tourism is popular.

To offer your property for rent, simply create an account on Airbnb. From there, you can list your property, describe the amenities, highlight local attractions nearby, and showcase your awesome space with great photos.

Even if you don’t have tons of extra space or a spare casita, you can consider renting your space for any spells that you’re out of town. This is especially true for holidays when you might leave your home to go visit friends or family in a different area.

Upkeep for your space when renting is crucial. You can cover odd jobs using sites like TaskRabbit. Property rental is an immediate way to earn passive income — and quick! 

20. Carvertise

Have you ever been driving down the highway and seen a brightly illustrated vehicle cruising alongside you, their car a rolling advertisement? Chances are that the driver isn’t just a super-fan for whatever product or service adorning their car — they’re getting paid. If you could use a few extra bucks, you can consider joining the fleet with Carvertise. 

If you drive at least 30 miles a day and have a vehicle from 2008 or later, a factory coat of paint, and a clean driving record, you can qualify. Carvertise essentially turns your vehicle into a rolling affiliate marketing platform for advertisers — most drivers can earn up to $100 a month.

The advertiser will pay to have your vehicle wrapped and unwrapped (it’s all a vinyl decal that wraps your car), and you will be paid as long as the campaign lasts. It may not be the best avenue for your prized 1972 Corvette, but if you drive a fair amount and don’t mind your vehicle changing its appearance, then vehicle advertising might be for you. 

21. Donate plasma

Donating your plasma can help save a life and will earn you extra money — it’s a win-win any way you look at it.

Plasma makes up about 55% of our blood and is vital to our overall health. Plasma donation centers are located throughout the country, where they collect it for people in need. If you qualify, you can donate every four weeks — for which you will be compensated.

To qualify, you must be over the age of 18, weigh more than 110lbs, go through a medical screening, and test non-reactive for transmissible viruses. You’ll need to successfully pass two health screenings to donate.

When you arrive at the facility, you can expect the process to take about an hour — it’s very similar to having blood drawn. After you’re finished, you’ll be compensated by the donation center. While the pay varies greatly, most donors earn between $250 and $1,000 per month. 

22. Work for a production company

If you don’t mind lifting heavy objects and doing a bit of physical work, picking up gigs with a production company can be a great side hustle. Movie sets, music festivals, concerts at amphitheaters, and even plays at the local theater all require crews to build the stage.  

While you won’t be hired to manage a movie set or stage without the appropriate experience, most companies could always use an extra pair of hands. This could include moving speakers and monitors, setting up lights, installing projection screens, and running cables.

Due to the infrequent nature of events, films, or concerts, the role can make for great part-time employment, and who knows — maybe you’ll work a show for your favorite band or on a set with your favorite actor!

23. Stage homes

Real estate is a booming industry and there are lots of opportunities to earn fast money. Perhaps the most efficient way, with a minimal time investment, is to help stage homes.

When people get ready to sell their property, they often stage the home to make it presentable for open houses. It’s a process that can show buyers how they might see themselves living there.

Realtors often hire outside help to get the place ready to show. Search on sites like Indeed or SimplyHired for home staging jobs. Most will require a part-time commitment (usually 4 hours or so), and you’ll be paid either hourly or a flat fee.

If you have connections in the real estate industry, you can even reach out to friends or colleagues and offer your services.

24. Make money playing video games

Making money playing video games — it sounds too good to be true, right? Wrong! While eSports is a burgeoning industry with lucrative contracts for the top echelon of gamers, you can still hone your skills and make extra cash while retaining your amateur status. 

Are you unbeatable at League of Legends? How about Call of Duty or Fortnite? If your skills are top-notch, consider coaching other gamers — showing off your skills at a gaming convention is a great way to get noticed fast and build your network.

Also, consider streaming your gaming prowess on Twitch, which connects gamers to a built-in audience. This can be a great way to monetize your playing skills, teach new players, and build your rep. 

If you’re passionate about the engineering side of things, check out job boards on Indeed or LinkedIn for video games — developers need testers to provide feedback on new games during test launches.

25. Work your green thumb

Do you have a riding mower with a zero-turn radius and a turbo button — like King of the Hill meets The Fast and the Furious? Do you enjoy gardening and have a knack for propagating rosemary or spider plants? If you have a few extra hours per week and can landscape with the best of them, consider starting up a lawn or garden business.

Many people view weed-eating and lawn mowing to be a chore — if you have the equipment and don’t mind spending time outdoors, helping them out could be a viable option to bring in some extra money each week. Check with your neighbors (especially if their lawn is getting a little high), and see if there are any opportunities available. Who knows, maybe you’ll become their regular lawn person! 

If your apartment looks like a lush Amazonian rainforest and you’re an ace at propagation, did you know you can sell extra plants? You can even make a profit of nearly 100%! See what clippings you can begin to nurture, and start to list them on Facebook Marketplace — or take them to your local farmers market.

26. Become a mystery shopper

If you enjoy shopping and have an eye for detail, mystery shopping might be the gig for you. 

Companies hire mystery shoppers to evaluate customer service and store conditions. Sign up with legitimate organizations like Market Force or BestMark. Assignments can pay between $10 and $25, and sometimes you’ll get reimbursed for purchases. 

It’s a flexible job that lets you earn money while shopping incognito. Plus, you’ll be providing a valuable service to brands while ensuring that everyone’s shopping experience is better.

27. Offer mobile car washing and detailing

Many people appreciate the convenience of having their car cleaned at home or work. 

With some basic supplies — like soap, buckets, sponges, and a portable vacuum — you can start a mobile car washing service. Advertise in your neighborhood or on local community boards. 

By setting competitive prices and scheduling multiple clients in a day, you can earn substantial cash quickly. There are also some made-for-you franchising packages that you can buy and get set up faster, like Mr. Clean Car Wash or FleetClean USA.

28. Sell unused electronics

Old phones, tablets, or gadgets collecting dust? 

Turn them into cash by selling them on platforms like Gazelle, Decluttr, or even eBay. These sites offer instant quotes for your devices. Not only do you earn money fast, but you also declutter your space and recycle electronics responsibly.

With the amount of tech, smartphones, gaming consoles, and TVs we use, you’re bound to have something lying around that could earn you money. Just provide as much information about the products as you can (including their condition) to avoid surprises.

29. Rent out your tools or equipment

Do you have tools, camping gear, or party equipment that you rarely use? 

Platforms like Fat Llama and Loanables let you rent out your items to people in your area. 

Whether it’s a power drill, a kayak, or a projector, there’s probably someone out there willing to rent it for a day. It’s a great way to make passive income from items you already own.

30. Become a freelance bartender or server for events

If you have experience in the hospitality industry, offer your services as a freelance bartender or server for private events. 

Websites like Thumbtack or local classifieds can connect you with event hosts in need of extra hands. Working a party or two can bring in quick cash, plus you might earn generous tips.

If you’re in college, or if you’re just getting started in business, this is also a great way to network with people you’d like to know better.

31. Participate in mock trials or jury research

Lawyers often conduct mock trials or focus groups to prepare for real cases. 

Companies like eJury and JuryTest pay participants to provide feedback on legal cases. Sessions can be done online and may pay $5 to $60, depending on the length and complexity. 

It’s an interesting way to earn money while contributing to the legal process.

32. Monetize your passions and skills

We all have passions and skills — it’s what makes us all so interesting! Think about what you love to do. If nothing springs to mind, see if any of these spark some ideas:

• What were you known for in high school? 
• What do your friends turn to you for today?
• What do people tend to compliment you on?
• What kinds of problems or challenges do you get excited about?
• What role do you tend to play in communities or organizations?

Those “little things” you have a knack for are probably worth more than you think. Next, think about how you could make a few extra bucks by using those skills and fueling your passion.

If you’re an athlete with experience, you can train younger players on developing proper techniques — parents will pay for their youngsters to learn power skating in hockey or dribbling skills in soccer.

If you’re good at organizing events, connect with your local Chamber of Commerce and offer to help out with their next big day. Even if you help for free at first, it’s a great way to make a name for yourself.

If you play music, consider getting in touch with local producers and studio owners — you could be the session player they’ve been searching for!

No matter what you love, think about how you could start doing it for money, even in a small way. When you follow your passion, small wins tend to grow into big ones.

The bottom line

We all need to make a living, and let’s face it — that can be tough these days. But with a little creativity and some hard work, you can start earning quick cash each week to ease your personal finance stress and maybe even start getting ahead.

Want to make your money go even further? 

Track your spending with Quicken to save more cash and grow your savings.

PIEs (portfolio investment entities), make up the core of many wealth-building strategies. Read on to discover how PIEs diversify risk, tap new markets — and more importantly, grow your money. 

What is a portfolio investment entity (PIE)?

Portfolio investment entities are vehicles (usually funds or trusts) that pool money from many investors to buy a “basket” of assets. These may include stocks, bonds, real estate, or alternative assets. Investing in a PIE means you own some of every asset in the basket. In other words: you own a slice of the PIE. 

Benefits: Why invest in a portfolio investment entity?

PIEs offer unique benefits like automatic diversification and expert guidance, which can make investing easier in today’s fast-paced financial world. 

Built-in diversification

Because PIEs invest in many assets, buying in can diversify your portfolio. Spreading money around this way can increase your financial resilience. If one asset or industry tanks, your overall portfolio may not suffer as much. 

Some of this increased diversification comes from their sheer size. Because they pool money from many investors, PIEs can make bigger investments than most individuals. 

You can also mix and match PIEs that focus on specific assets, industries, or strategies for even more diversification. These benefits are especially helpful for investors who lack the money or expertise to diversify on their own. 

Potential economies of scale 

Some PIEs also achieve economies of scale, which can benefit investors. Because PIEs pool investor funds, they can “buy in bulk,” potentially lowering individual investors’ costs and fees. 

Enjoy tax efficiency

Some PIEs offer tax advantages, though some are better deals than others. For instance, ETFs may be more tax-efficient than mutual funds due to differences in how they handle capital gains. Depending on their exact structure and jurisdiction, you may enjoy:

• Lower taxes on dividends, interest, or capital gains
• Deductions on investment-related expenses
• Tax-deferred growth (particularly for PIEs held in retirement accounts)
• Taxation using “prescribed investor rates” on New Zealand PIEs, instead of a personal income tax rate

Anywhere you catch a break puts more money in your pocket — or your investment account. 

Professional management at your service

Most PIEs hire professional fund managers to research, buy, and sell assets. Relying on their expertise means you don’t have to tackle these tasks yourself. 

Of course, it’s important to ensure that each PIE fits your needs. Still, that’s easier than researching hundreds of assets on your own!

Regulatory oversight for your protection

In the U.S., most PIEs — including mutual funds, ETFs, and investment trusts — follow SEC regulations. Depending on a PIE’s exact structure and jurisdiction, regulators may:

• Determine when and what information a PIE must report to investors and regulators
• Establish “fair practice” safeguards
• Set rules and enforce punishments for fraud or mismanagement

These rules help establish standards of transparency, protect investors’ interests, and keep regulators compliant to safeguard investors’ capital. 

However, not all PIEs have to follow the same regulations. For instance, hedge funds may be exempt from certain protections, increasing their investment risks. 

Types of portfolio investment entities

Mutual funds: The original PIE

Mutual funds are a type of PIE that pool investor funds to buy stocks, bonds, real estate, or other assets according to a stated strategy or set of goals. 

Historically, mutual funds hired active management teams, though modern funds may take a passive approach. 

(Passive investment funds typically buy assets that follow an index, such as the S&P 500 index. An index is basically a list of stocks that meet specific criteria. E.g., the S&P 500 follows about 500 of the largest U.S.-listed stocks. A passive S&P 500 fund would buy most or all of the stocks in the S&P 500 index.) 

However, many still charge higher investment minimums and fees than their ETF counterparts. Additionally, investors can only buy and sell shares once daily at a set price.  

Exchange-traded funds (ETFs): flexibility and cost efficiency

ETFs resemble mutual funds in that they pool money to buy a basket of securities. They also come in a variety of flavors and goals, such as income-focused or environmentally friendly. 

But unlike mutual funds, ETFs trade like stocks. You can buy them anytime the markets are open, and their prices fluctuate throughout the day. Many (but not all) also charge lower fees and have a more tax-efficient structure. 

Hedge funds: for the sophisticated investor

Hedge funds are private investment funds (they don’t trade on exchanges) that use higher-risk strategies to chase higher rewards. A hedge fund might:

• Invest in advanced assets like derivatives, currencies, or interest rates
• Pour money into risky markets or industries
• Use leverage (debt) to amplify their returns — and risk

Due to their strategies and decreased regulations, hedge funds tend to be riskier than other PIEs. They also charge higher fees and set higher investment minimums, often starting around $1 million. As a result, you probably can’t invest unless you’re an accredited (high-earning or high-net-worth) investor.  

Unit trusts: simplify investing

Unit trusts are unique assets established by a trust deed that identifies investors as beneficiaries. They invest pooled funds into a professionally managed portfolio based on the trust’s strategy. (Income generation, tax efficiency, etc.) Each investor receives a stake represented by “units.” These units fluctuate in value based on the underlying portfolio’s performance. 

In the U.S., unit trusts expire at a set date, at which point they pay any profits to their beneficiaries. This setup has some downsides, like limited control over investment decisions and inflexible timelines. However, they’re relatively liquid, as investors can sell their stake on secondary markets. They also present a viable opportunity to generate wealth or income.  

Investment trusts: leveraged risk and reward

Another unique type of asset, investment trusts are structured as publicly traded incorporated companies. 

Unlike unit trusts, which issue more units as needed, investment trusts issue a set number of shares. Their goal: to make money by investing in other companies. To achieve their goal, each trust establishes a board of directors to make decisions. 

Their unusual setup allows investment trusts to operate flexibly, investing in niche or less liquid assets and over longer timelines. They can use leverage (debt) to buy more assets, potentially increasing both profits and risk. 

Unlike ETFs, the value of the trust’s shares can differ from the value of the underlying assets, allowing investors to buy “discounted” shares. 

Steps to choose the right PIE for your portfolio

Most investors buy PIEs at some point in their journey — but not all PIEs are baked equal. 

Define your investment goals and risk tolerance

Understanding your goals can help you choose the most suitable PIE(s). 

Do you want to invest in a diversified portfolio for retirement? Engage in thematic investing like environmentally friendly or socially responsible investing? Generate short-term income? Improve your portfolio’s tax efficiency? How much can you afford to lose financially AND emotionally along the way?

Knowing what you hope to achieve — and how much risk you can tolerate — will guide you toward the right PIEs. 

Research and compare options

After identifying your needs, it’s time to find PIEs that your (financial) tastebuds will love. Most investors go for a mix of stock- and bond-based ETFs and mutual funds. You may also decide that hedge funds or trusts fit your needs and financial situation. 

Be sure to compare each PIE’s strategies, holdings, risks, and long-term outcomes.  

Select the right platform

Depending on the PIE, you may need to open an investment account with a specific brokerage to get started. (You might also be able to buy some assets through your regular broker.) Spend some time finding a platform that allows you to bake your perfect PIE without draining your wallet. 

Ask important questions

At every stage of PIE and platform selection, stay curious! Ask essential questions like:

• What kind of fees can I expect? Does the PIE charge an expense ratio, management fees, load fees, or performance fees? How much? When do I have to pay?
• What will this broker or platform charge me to trade assets? Will I have access to a financial advisor for that price?
• How quickly can I buy or sell this investment?
• How will this asset impact my tax situation? Will that change if I invest in a retirement account versus an individual brokerage account?

Remember: Knowledge is power — especially when it comes to your money.  

Know your PIE’s metrics

Aside from these questions, you’ll want to get familiar with each PIE’s metrics. Look at its historical performance — what kind of returns has it generated in the past? Has the expense ratio changed over time? How often does the fund rebalance its holdings? Having these answers at hand will help you make a well-informed decision. 

Start small if you’re unsure 

You don’t have to invest your life savings immediately just because you find a delicious PIE. It’s okay to start small and build your portfolio over time! (Perhaps with dollar-cost averaging or other regular investment strategies.) 

Tracking your PIE investments

Monitoring your investments is one of the most important steps of buying a PIE. But it can be time-consuming and frustrating to add *one more thing* to your plate. 

That’s why Quicken makes it easier. 

Track all your finances in one place — savings plans, budgeting, investments, and more. 

PIE FAQs

Are PIEs suitable for beginner investors?

PIEs offer a great entry point for beginner investors! Their instant diversification and professional management can help newbies feel more confident.  

What are the risks associated with PIEs?

Like all investments, PIEs can’t guarantee you’ll get your money back, let alone make a profit. You’ll also want to watch for high fees, past regulatory actions, and potential tax implications. 

How do I start investing in PIEs?

First, define your goals and risk tolerance, then find a fund — or fund manager — to help meet those goals. From there, you’ll need to open an account, make your first purchase, and prepare to track your investment.

The first step is to set up your budget categories so you can see where your money is going. 

This guide runs through 10 essential categories found in most household budgets, including how much the average household spends on each one.

Top 10 budget categories

All monthly budgets start with your take-home pay — the money you bring home from your paycheck after taxes, retirement savings, and other deductions are taken out. 

According to the US Bureau of Labor, the average American salary is $53,490 per year, but that’s before taxes. 

After federal and state income taxes, that leaves about $42,768 — or $3,564 per month.

If you live in a state that doesn’t have any income tax, you’ll have a bit more to work with, but we’ll use $3,564 as our monthly average.

The essential budget categories

This first list of budget categories covers the essentials, like housing, food, and clothing. The recommended amounts are based on our average budget of $3,564 per month. 

Adjust those numbers up or down to fit your actual take-home pay and your unique situation. 

1. Housing (25-35 percent)

Amount per month: $891 to $1,247

Housing covers the money you pay to keep a roof over your head. This includes everything from rent or mortgage payments to property taxes, HOA dues, and home maintenance costs. 

For most budgeters, this category is by far the biggest. 

2. Transportation (10-15 percent)

Amount per month: $356 to $535

Regardless of your location or lifestyle, everyone needs to get from point A to point B. Typically, this budget category includes car payments, registration and DMV fees, gas, maintenance, parking, tolls, ridesharing costs, and public transit. 

If you don’t need a car, you’ll save a lot of money here that you can use somewhere else instead.

3. Food (10-15 percent)

Amount per month: $356 to $535

Shopping and cooking at home? Sampling local restaurants? Either way, we all have to eat. Many budgeters include both groceries and dining out in this category (e.g., restaurant meals, work lunches, food delivery, etc.) 

To stretch your food budget further, try moving some of your non-essential food expenses (like gourmet coffee or celebration dinners) into one of the non-essential categories below.

4. Utilities (5-10 percent)

Amount per month: $178 to $356

This category covers the services that keep your home up and running — things like gas, electricity, water, and sewage bills. Some families also include “connectivity” services, like internet and cell phone bills.

When you’re setting your budget, remember that the costs of heating and air conditioning often change from month to month. A home in Syracuse, NY, will have a bigger heating bill in the winter than one in Austin, TX, but that same home will pay less in the summer. 

5. Insurance (10-25 percent)

Amount per month: $356 to $891

Some budgeters like to include insurance with the thing they’re insuring. So auto insurance would fall under Transportation, and homeowner’s insurance would be included in Housing. 

Both systems are perfectly valid. Do whatever helps you feel most organized.

If you list insurance as its own category, this could include:

• Health insurance (if you pay it out of your take-home pay)
• Homeowner’s or renter’s insurance
• Auto insurance
• Life insurance
• Disability insurance

6. Medical & Healthcare (5-10 percent)

Amount per month: $178 to $356

“Health is wealth,” so be sure to include enough in your budget to cover these costs. If you plan for essential medical care such as yearly physicals and dental appointments, you’re much more likely to live a long, healthy life.

As you build your medical and healthcare budget, think about:

• Out-of-pocket costs for primary care
• Specialty care (dermatologists, psychologists, etc.)
• Dental care
• Urgent care
• Prescriptions and OTC medications
• Supplements and vitamins
• Medical devices and supplies

If you don’t have a separate budget category for insurance, remember to include any health insurance premiums that you pay out of your own pocket.

7. Saving, Investing, & Debt Payments (10-20 percent)

Amount per month: $356 to $713

This often-overlooked home budget category is one of the most important — including it can really set you up for financial health down the road. 

Start by using it to pay off any high-interest debt you’re carrying, such as credit card bills or even personal loans and student loans.

Once you’re free of any high-interest debt, you’ll want to build an emergency fund that’s earmarked for unexpected disasters, as well as saving in a retirement account such as a 401(k) or IRA. 

If you’re saving a full 20 percent of your income and you aren’t making a significant dent in your debt, try cutting back in other areas, starting with your non-essential spending categories.

The non-essential budget categories

Once you’ve budgeted for your essential needs, the money you have left can go toward the non-essentials — like entertainment.

Non-essential expenses tend to vary from month to month, depending on your spending habits. 

They’re also the easiest expenses to cut back on, at least for a while — especially if you want to pay down debt or build your savings more quickly. 

8. Personal Spending (5-10 percent)

Amount per month: $178 to $356

This category is a catch-all for things like: 

• Gym memberships 
• Clothes and shoes
• Haircuts and highlights
• Home decor and furniture
• Gifts

You might consider some of these to be essential, and that’s perfectly fine. The point isn’t to tell you how to spend your money. The idea is that anything in this list could be canceled if it had to be — in case of a real emergency.

9. Recreation & Entertainment (5-10 percent)

Amount per month: $178 to $356

For most of us, carving out some time for fun — and the money to afford it — is essential to maintaining a healthy work-life balance. 

A good budget helps you spend your money where it matters most to you. So enjoy it however you want to — you’ve earned it!

This budget category can include things like:

• Concert tickets
• Sporting events
• Family activities & vacations
• Cable, streaming services, and other subscriptions (e.g., Hulu and Netflix)
• Restaurants (if you didn’t include this under “Food”)
• Video games
• Hobbies

10. Miscellaneous (5-10 percent)

Amount per month: $178 to $356

This category is reserved for anything that isn’t covered in the rest of your budget categories. It can also be used as an “overflow” category when you need a little extra somewhere else.

For example, if you have a larger family, you probably spend substantial amounts on clothes and haircuts for your kids. If you’ve maxed out your personal spending for the month and you find a jacket you love, you could account for it under Miscellaneous. 

Remember, these categories are just a starting point. Tweak your budget as much as you need to until it fits your needs.

If you want to explore other categories, try these 20 average monthly expenses.

Having a hard time making ends meet?

If you’re struggling to cover your financial bases, you’re not alone — making ends meet can be tough. Start by cutting back on non-essentials wherever you can, and don’t forget to explore other ways to make money.

Remember to pay off high-interest debt wherever you can — high credit card balances can really squeeze your budget. Slowly but surely, smart budgeting pays off. 

Your budget categories & percentages: Putting it all together

If building a household budget sounds like a lot of work, you’re not wrong — especially since you have to keep up with your spending every day. 

To make it easier, consider using the Quicken Simplifi app. It includes every one of these categories along with several more — plus sub-categories to give you a detailed picture of your spending without all the work:

• Gifts & Donations
• Kids
• Pets
• Travel
• Education
• Taxes
• Business Services

But the best thing about Simplifi is that you can choose how you want to budget. You can plan out every dime, or just check out what you’ll have left after your monthly bills and savings.

Simplifi does the math for you and keeps up with what you have left automatically — so you can spend your “available to spend” money on anything you want.

Thankfully, the IRS lets many estates (and a portion of high-value estates) avoid taxation under the federal estate tax exemption. This post walks you through what you need to know: 

• How estate tax rates and exemptions work
• The 2024 estate tax exemption rates
• How gifts and gift tax exemptions can affect your estate tax exemption
• State estate taxes and state exemptions
• What’s about to change in 2026

How to plan your estate around estate taxes

At a high level, the following 4 steps can help you plan and prepare for estate taxes: 

1. Review federal and state tax laws: Look at the exclusion limits and tax rates when planning for estate tax liability to see how much your estate is likely to be affected.
2. Know how much your estate is worth: For high-value estates, you’ll need an inventory of all the assets you own — your bank accounts, home, other real estate, investments, vehicles, personal property, and even business ownership — as well as what you owe.  
3. Consider tax planning strategies: Gifts and charitable contributions could lower your estate’s value and lessen tax impact.
4. Consult with a professional: To minimize estate taxes for high-value estates, consider seeking assistance from a financial planner or estate attorney.

How does the federal estate tax exemption work?

First things first — an estate is the value of the property someone leaves behind once they’re gone. So estate taxes don’t apply until someone dies, and most estates don’t have to pay any tax at all. Why not? Because of the federal estate tax exemption.

The federal estate tax exemption excuses estates from paying estate taxes up to a certain value. In other words, every estate is tax-free up to a certain amount. If your estate is worth less than the current exemption amount, it pays no estate tax.

If your estate is worth more than that, estate taxes are only charged on the portion of the estate’s value that’s above the current limit.

What is the estate tax exemption for 2024?

The federal estate tax exemption for 2024 is $13.61 million. If your estate is worth less than that, it won’t have to pay any federal estate tax.

If your estate is worth more than that, estate taxes will be charged only on the portion of the estate’s value that’s above the $13.61M limit. That rate goes up with your estate’s value based on the following schedule.

Estate tax rates – 2024 estate tax schedule

Federal estate tax rates start at 18% and go up to 40%. 

Take a look at the first row in the chart below. If your estate is only $10,000 above the $13.61M limit, your estate will pay 18% estate tax on that $10,000 for a total tax of $1,800. (The first $13.61M is still tax-free.)

If your estate is $10,001 over the limit, your estate will pay the same $1,800 in tax on the first $10,000 and then 20% on that last extra dollar. As the rate goes up in the chart, each new rate doesn’t apply to your whole estate, just to the part shown in column A.

Internal Revenue Service – Form 706

Federal estate tax exemption examples

So how does this work, exactly? Let’s walk through it.

Assume an individual has an estate with a taxable value of $13.68 million. After excluding the federal estate tax exemption of $13.61 million, the estate has a taxable value of $70,000.  

Based on the IRS tables presented above, the estate’s tax liability is: 

• 18% on the first $10,000 = $1,800
• 20% on the next $10,000 = $2,000 
• 22% on the next $20,000 = $4,400
• 24% on the next $20,000 = $4,800
• 26% on the last $10,000 = $2,600

Add those up, and being $70,000 over the limit will only cost $15,600 in taxes. Not too bad for an estate worth $13.68 million — at least, not in the grand scheme of things.

Once your estate is $1 million over the limit though, the rate jumps to 40%. Because of the way the chart works, the first $1 million over will cost your estate $345,800 in federal estate taxes. Every extra $1 million beyond that will cost your estate another $400,000.

Needless to say, people who expect to have very large estates want to avoid as much of that tax as they legally can. So the next obvious thought is to give some of your estate away while you’re still alive, right? And keep just enough to avoid estate taxes.

That’s where the gift tax exemption comes in.

What is the gift tax exemption?

The gift tax exemption says you can only give so much of your money away to a specific recipient each year without starting to eat into your estate tax exemption.

In other words, you can’t avoid estate taxes on an estate worth $20 million by transferring $7 million of it as a lump-sum gift to your kid while you’re alive. 

Most of that gift will still count against your total estate tax exemption.

That’s because the IRS considers the lifetime gift tax exemption and the federal estate tax exemption to be one combined “unified credit.” The amount accumulated in your lifetime gift tax exemption reduces your available federal estate tax exemption. 

But you can still give some of your money away each year without eating into that tax credit.

Here’s how it works.

How does the gift tax exemption work?

Under the annual gift tax exemption, you can give up to a certain amount of money (or property value) away each year, per individual, and those gifts won’t count against your estate tax exemption.

For 2024, the annual gift tax exclusion is $18,000 per individual and $36,000 for married couples. 

If your total gifting for the year, per recipient, falls under this exempt amount, you don’t have to file a return. If your annual gift is higher than that, you would report it to the IRS on Form 709. 

You don’t need to pay tax on the gift now, but any amount over the annual exclusion will count against your lifetime estate tax exemption.

Gift tax exemption examples

Let’s say you have three kids. You can give up to $18,000 to each of your kids in 2024 without any tax ramifications. The annual gift tax exemption applies per recipient. So that’s $54,000 you can give away that won’t count against your lifetime estate tax exemption.

If your kids are married, you can give up to $18,000 to each of your kids in 2024 and also to each of their spouses, adding up to $36,000 per couple, with no tax ramifications. That $108,000 you can give away to your 3 kids and their spouses.

If each of those couples has 2 children, you can give $18,000 per year to each of those kids as well. Now you’re giving away up to $216,000 in 2024 without counting against your lifetime tax exemption.

And, if you’re married, your spouse can do the same thing, essentially doubling your exemption in each of the examples above. You can give up to $18,000 to each kid, spouse, and grandkid, and your spouse can also give up to $18,000 to each kid, spouse, and grandkid. 

You can also give money to friends, cousins, uncles, your grandkids’ spouses, etc. The exemption cap is per person, per recipient, per year.

Of course, if you need to give more than that to one person in a single year, you still can. The amount above the exemption will simply count against your lifetime estate exemption.

Let’s say you’re married, and you have an unmarried adult kid who needs $60,000 for graduate school this year:

• You and your spouse together give your kid the $60,000.
• The annual gift tax exclusion exempts $36,000 of it — $18k for each of you.
• The gift is above the exclusion by $24,000 for the year.
• You’ll report the gift to the IRS using Form 709.  
• Your joint lifetime gift tax exclusion will be reduced by the $24,000 overage. 

BUT DON’T MISS THIS PRO TIP: There’s also a 529 exclusion to the exclusion that lets parents contribute 5 years’ worth of exclusions in a single year. So in the scenario above, since the gift is for your kid, you could use that to exempt the entire amount.

What happens to the Federal Tax Exemption in 2026?

The federal estate tax exemption received a substantial bump in 2017 with the Tax Cuts and Jobs Act (TCJA). Yet, with the TCJA scheduled to end after 2025, the federal estate tax exemption is expected to drop back to its original $5 million limit (adjusted for inflation).  

With the exemption cut by more than half, more estates will be subjected to taxation by 2026. Unless new legislation passes to raise the federal exemption, estates should prepare for higher tax bills. 

Suppose you’ve taken advantage of the higher gift and estate tax exclusion rate — also known as a basic exclusion amount (BEA). In that case, you may wonder what happens to the estate’s tax calculation when the exemption resets to pre-2018 levels. The IRS has clarified that the estate can base its tax calculation on the greater of the BEA applicable when you made the gift or the BEA that applies at death. So, taxpayers won’t lose the tax benefit of gifts made between 2018 and 2025. 

Estate planning doesn’t only apply to the uber-wealthy. If you own a business, real estate, or investments, your assets may grow significantly over time. With the upcoming federal estate tax exemption changes, Uncle Sam could take a bite out of your estate if you aren’t prepared. 

How do state estate tax exemptions work?

While most states don’t levy an estate tax, some do. When determining an estate’s tax liability, you would consider both federal and state tax rules. 

Not every state charges an estate tax, but those that do exempt a portion of the estate’s value, just like the federal exemption. Tax rates apply to the estate value that exceeds the exemption. The rates and exemption limits, however, differ from the federal level. 

For instance, Oregon has an estate tax exemption of $1 million, with tax rates ranging from 10% to 16%. Vermont exempts $5 million of the estate’s value but charges a flat 16% tax on the excess.  

Refer to your state’s website for relevant information about estate taxes. 

Depending on where the estate’s assets reside, your estate could be subject to multiple states’ taxes. You can seek professional tax assistance to ensure compliance with state law.

States that charge an estate tax include:

Use these fundamental concepts to build a strong financial foundation.

Personal finance is for everyone

Understanding the ins and outs of personal finance isn’t just for the wealthy or financial experts. It’s for everyone. It can help you make good decisions, achieve your goals, and handle unexpected expenses without panic. 

By mastering the basics, you can take control of your money rather than letting it control you.

Budgeting

Taking control of your money starts with creating a budget — a simple plan for how you’ll spend and save your money each month. 

A budget helps you see where your money is coming from and where it’s going.

How to create a budget

1. List your monthly income

Write down all the money you receive each month, such as:

• Your paycheck after taxes
• Side job or freelance earnings
• Any other income (like child support)

2. List your monthly expenses

Make a list of everything you spend money on each month:

• Fixed expenses (stay the same): rent or mortgage, car payments, insurance, subscriptions
• Variable expenses (can change): groceries, utilities, transportation, entertainment

3. Calculate the difference

Subtract your total expenses from your total income:

• If you have more income than expenses, you’re doing great. 
• If your income and expenses are the same, you’re essentially living paycheck to paycheck. 
• If you have more expenses than income, you’re spending more than you earn—and probably taking on debt to get by.

A lot of people are living paycheck to paycheck or spending more than they make these days, so if you’re in that boat, you’re not alone. 

Wherever you are today, consider it a starting point. Look for places to cut back on your spending so you’ll have more room to manage surprises, pay off debt, and save for the future.

4. Adjust your spending

Look for ways to spend less. Here are a few ideas:

• Eat out less and cook at home
• Cancel subscriptions you don’t use
• Find deals and use coupons

Small changes can make a big difference.

5. Set your financial goals

Decide what you want to achieve, such as:

• Build an emergency fund
• Pay off debt
• Save for something special

Keep these goals in mind as you plan your budget.

6. Choose a budgeting method

Pick a budgeting style that fits you:

• 50/30/20 rule: 50% for needs, 30% for wants, 20% for savings/debt
• Zero-based budget: Assign every dollar a job until you reach zero
• Envelope system: Use cash for different spending categories to control spending

If you aren’t sure which one sounds right for you, this post walks through them all.

7. Track your spending

Keep an eye on your expenses:

• Use a tool like Quicken Simplifi to monitor spending
• Note expenses in a notebook or app
• Review your spending regularly

8. Review and adjust monthly

Check your budget every month:

• Update for any changes in income or expenses
• Make sure you’re progressing toward your goals

By following these steps, you’ll create a budget that helps you manage your money effectively and work toward a secure financial future.

Savings

Building up your savings is a step toward financial security and achieving your future goals. Whether you’re saving for an emergency fund, a big purchase, or just want a financial cushion, setting aside money regularly can make a significant difference over time. Let’s explore some practical steps to help you start saving effectively.

1. Set clear savings goals

Knowing what you’re saving for can motivate you to stick to your plan.

• Emergency fund: Aim to save at least three to six months’ worth of living expenses.
• Big purchases: Saving for a car, home, or vacation.
• Future plans: Setting aside money for education or retirement.

Next steps:

• Decide on a specific goal and the amount you want to save.
• Break down your goal into manageable monthly savings targets.
• Write down your goals and keep them where you can see them regularly.

2. Keep your savings separate

Keeping your savings in a separate account makes it less tempting to dip into them for everyday expenses.

Next steps:

• Avoid linking your savings account to your debit card.
• Treat your savings as off-limits except for their intended purpose.

3. Open banking accounts

When you save money in an account with a higher interest rate, your money grows faster. There are some great banks both online and offline, depending on your needs.

• Checking accounts: Designed for daily transactions like paying bills and making purchases. They usually come with a debit card and checks, making it easy to access your money quickly.
• Savings accounts: intended for money you want to set aside for future needs. They typically earn interest, helping your money grow over time.
• For higher interest rates: High-yield savings accounts offer better interest rates than traditional savings accounts, so your money grows faster. Just like regular bank accounts, your money is protected through the FDIC up to $250,000

Next steps:

• Use your checking account for everyday expenses and your savings or high-yield account to store money for future goals.

4. Automate your savings

Making your savings automatic can help you stay consistent without having to think about it.

Next steps:

• Set up automatic transfers from your checking account to your savings account each time you get paid.
• Even small amounts add up over time, so start with what you can afford.
• Consider increasing the transfer amount when you can, like after a raise or when you’ve paid off a debt. 

5. Monitor and adjust your savings plan

Regularly checking on your savings helps you stay on track and make adjustments as needed.

Next steps:

• Use tools like Quicken Simplifi to track your savings and see your progress.
• Review your bank statements monthly to see how your savings are growing.
• Adjust your savings plan if your financial situation changes or if you reach a goal and want to set a new one.

Debt and credit

Carrying extra debt can put a heavy strain on your finances, making it harder to achieve your financial goals. High levels of debt mean that more of your income goes toward interest payments, leaving less money for saving, investing, or everyday expenses. 

By managing your debt effectively, you can reduce stress and improve your overall financial well-being.

Understanding your debt

The first step in tackling debt is to get a clear picture of what you owe. Make a list of all your debts, including credit cards, student loans, car loans, and any other obligations. 

For each debt, note the following:

• Outstanding balance: How much do you currently owe?
• Interest rate: What is the annual percentage rate (APR) for each debt?
• Minimum monthly payment: What is the smallest amount you need to pay each month?

Having this information in one place gives you a better view of your financial obligations. It helps you identify which debts are costing you the most, so you can prioritize them accordingly.

Creating a debt repayment plan

Once you understand your debts, the next step is to create a plan to pay them off. Prioritizing debts with higher interest rates can save you money over time because these debts accumulate interest more quickly. Here are two strategies you might consider:

• Debt avalanche method: Focus on paying off debts with the highest interest rates first while making minimum payments on the others. This method can reduce the total amount of interest you pay over time.
• Debt snowball method: Start by paying off the smallest debts first to gain a sense of accomplishment and build momentum. Once a debt is paid off, apply that payment amount to the next smallest debt. This approach can be motivating and help you stay committed to your plan.

Choose the method that best fits your personality and financial situation. The key is to stick to your plan and adjust it if your circumstances change. For example, if you receive a bonus or tax refund, consider putting some of that extra money toward your debts to accelerate your progress.

By actively managing your debt, you’re taking control of your financial future. Reducing or eliminating debt frees up money each month, giving you more flexibility to save for emergencies, invest for the future, or enjoy life’s pleasures without financial worry.

Building and maintaining a good credit score

Your credit score affects your financial opportunities. Build and maintain it by paying bills on time, keeping credit card balances low, and regularly checking your credit report for errors. These simple steps can help you achieve your long-term financial goals.

Next steps:

Pay all bills on time, reduce credit card balances, and check your credit report for errors to see gradual improvements.

Building a strong credit score can open doors to better financial opportunities, helping you achieve your long-term goals.

Investing and retirement planning

Investing and planning for retirement can help you build long-term financial security. Even if you’re just starting, taking small steps now can make a big difference in the future. 

Here’s how you can begin.

Understand the basics of investing

Investing means putting your money into assets that have the potential to grow over time, like stocks, bonds, or mutual funds.

Next steps:

• Learn the fundamentals: Read beginner-friendly articles about investing to get started.
• Set investment goals: Determine what you’re investing for—retirement, a home, education—and how long you have to reach these goals.
• Create a plan: Work with a financial planner to build a plan that works well for your situation, with a level of risk that makes you feel comfortable.

Start with retirement accounts

Retirement accounts offer tax advantages that can help your money grow faster.

Next steps:

• Join your employer’s plan: If available, sign up for your company’s 401(k) or 403(b) plan.
• Contribute regularly: Aim to contribute a percentage of your income each month.
• Take advantage of employer match: If your employer offers matching contributions, contribute at least enough to get the full match — it’s essentially free money.
• Open an IRA: If you don’t have an employer plan, consider opening a traditional or Roth Individual Retirement Account (IRA) at a bank or brokerage.

Begin investing in small amounts

You don’t need a lot of money to start investing.

Next steps:

• Use micro-investing apps: Platforms like Acorns or Stash let you invest small amounts regularly.
• Automate your investments: Set up automatic transfers from your bank account to your investment account to build the habit of investing.

Diversify your investments

Spreading your money across different types of investments can reduce risk.

Next steps:

• Read up on investing for beginners
• Learn more about risk tolerance
• Learn more about how to diversify your portfolio

Set clear retirement goals

Knowing what you need for retirement helps you plan more effectively.

Next steps:

• Estimate your retirement needs: Use our free online retirement calculator to figure out how much money you’ll need when you retire.
• Create a plan: Work with a financial advisor to plan out the best way to reach your goal.

Monitor and adjust your plan

As your life changes, your investment plan may need to change too.

Next steps:

• Review your investments annually: Check how your investments are performing and make adjustments if necessary.
• Increase contributions over time: When you get a raise or reduce expenses, consider increasing the amount you invest.
• Rebalance your portfolio: Ensure your investment mix still aligns with your goals and risk tolerance.

Seek professional advice

Getting help can make a big difference.

Next steps:

• Consult a financial advisor: They can provide personalized advice based on your situation.

Remember, investing and retirement planning don’t have to be complicated. Start small, stay consistent, and don’t hesitate to seek help if you need it.

Continuing your financial education

By understanding the basics and staying committed to your financial goals, you can build a secure and fulfilling future. Remember, it’s never too early or too late to start managing your money wisely.

Here are some government and educational resources to help you learn more:

1. MyMoney.gov

MyMoney.gov is a website created by the Federal Financial Literacy and Education Commission. It’s a one-stop shop for learning the basics of financial management. 

The site covers a wide range of topics, including budgeting, saving, investing, and understanding credit. It provides practical tips and tools to help you make informed financial decisions. 

2. Investor.gov

Operated by the U.S. Securities and Exchange Commission (SEC), Investor.gov is designed to help you become a more informed investor. The website offers educational materials on how markets work, the different types of investment products available, and how to protect yourself from fraud. 

It’s a great place to learn about investing fundamentals, assess your risk tolerance, and understand the importance of diversification. The site also features calculators and quizzes to test your knowledge and plan for your financial future.

3. Consumer Financial Protection Bureau (CFPB)

The CFPB provides a wealth of information to help you navigate the financial challenges of everyday life. Their website offers resources on managing debt, understanding mortgages, handling student loans, and planning for retirement. 

They also provide tools to assist with budgeting and tips for avoiding financial scams. The CFPB’s materials are written in clear, accessible language, making complex topics easier to grasp.

Track your finances

The best way to keep your finances moving in the right direction — from your budget to your retirement plan — is to track them regularly. 

And the easiest way to do that is with Quicken. 

Manage your budget, track your debt, watch your investments, grow your savings, and reach your goals with confidence.

But when we added up the numbers, we realized our finances were as messy as the crayon-covered napkin. That’s when it hit us: we needed a budget! 

If you’ve ever felt that money is slipping through your fingers, you’re not alone. Ready to see how learning to budget now can transform your family’s future? Here’s what I’ve discovered.

1. Fewer arguments

Disagreements about household finances are a source of friction among many couples. This can begin early on in a marriage when couples spend too much on expensive gifts for one another, go on pricey vacations, or purchase a home they can’t really afford at that time. 

The end result can be a large debt burden, which can cause arguments about money and resentment toward the spouse who was responsible for the bulk of the spending — even if the intention was to make the other person happy. 

Having a budget in place prevents out-of-control spending and lessens the likelihood of arguments. 

2. Reduced stress

Financial problems cause stress, which in severe cases can cause health problems. 

When you’re constantly stressed, your body stays on high alert, always ready to fight or flee. It keeps releasing stress hormones like cortisol and adrenaline. 

Over time, this nonstop stress can mess with almost every part of your body. It can lead to serious health problems like anxiety, depression, heart disease, high blood pressure, and trouble sleeping. 

That’s why finding healthy ways to manage stress is so important—it helps protect your health in the long run. Budgeting can reduce stress by helping you keep your finances organized and under control.

3. More confidence

Effective financial management can also increase your optimism about the future. Individuals who engage in financial planning report significantly higher levels of financial security, confidence, and optimism compared to those who do not plan.

Your budget helps you track your progress toward your savings goals, showing you that you really can reach your objectives. The progress you see can be inspiring. 

For example, the progress you make in building your daughter’s college fund can inspire her to continue to work hard in school. She’ll know that her dream of attending college can be a reality, and you’ll have the confidence that the money will be there when it comes time for her to enroll.

4. Improved quality of life

Another benefit of budgeting your money well is that you’ll never feel trapped from having too much debt, with too much of your monthly income going toward payments — and especially interest. 

Budgeting can help you avoid getting into this debt trap in the first place. 

In addition, as you learn to save, invest, and watch your financial nest egg grow over the years, peace of mind and financial security will become more important goals than “things.” 

Budgeting helps you reassess what’s truly important, enhancing your overall quality of life.

5. Achieving financial goals faster

Budgeting helps you allocate your money toward what truly matters, helping you reach your financial goals more quickly. Whether it’s saving for a down payment on a house, starting a business, or planning a dream vacation, a budget provides a clear roadmap. 

By prioritizing your spending and cutting unnecessary expenses, you’ll find that you’re able to accumulate funds faster than you thought possible.

6. Better preparedness for emergencies

Life is full of unexpected events—medical emergencies, car repairs, or sudden job loss can happen at any time. By learning to budget now, you can set aside an emergency fund to cushion the blow of unforeseen expenses. 

This financial buffer brings peace of mind, knowing you’re prepared to handle surprises without derailing your finances or going into debt.

7. Increased financial independence

Effective budgeting leads to greater financial independence. By managing your money wisely, you’re less reliant on credit cards, loans, or financial help from others. This independence empowers you to make choices based on your goals and values rather than financial constraints. 

Over time, you’ll build a solid financial foundation that allows you to live life on your own terms.

8. Improved credit score

Effective budgeting helps you stay on top of your bills and debt payments, which can lead to an improved credit score. When you consistently pay your bills on time and reduce your overall debt, credit agencies take notice. 

A higher credit score opens doors to better interest rates on loans and credit cards, saving you money in the long run. Imagine being able to finance a car or home with confidence because your credit history reflects your responsible financial habits. 

Budgeting makes this possible by keeping you organized and proactive about your financial obligations.

9. Freedom to pursue personal passions

By managing your money wisely through budgeting, you free up resources to invest in your passions and hobbies. Whether it’s traveling the world, taking up a new sport, or starting a side business, having a clear budget allows you to allocate funds toward what truly brings you joy. 

No longer constrained by financial uncertainty, you can make choices that enrich your life. 

For example, if you’ve always wanted to learn woodworking, your budget can help you save for quality tools and equipment without affecting your essential expenses. This financial freedom empowers you to live a more fulfilling and balanced life.

Budgeting in your future

Budgeting can be a real game-changer for your family’s future happiness and security. 

Take the leap. Future you will thank you.

Use these personal finance tips to help you take control of your money and build a secure financial future.

1. Understand your net worth

Knowing your net worth gives you a clear picture of your overall financial health. 

Start by listing all your assets, such as cash, savings accounts, investments, your home, car, and any valuable possessions. Next, list all your liabilities, including mortgages, loans, credit card balances, and other debts. Subtract your total liabilities from your total assets to determine your net worth.

This figure helps you understand where you stand financially. It might be positive, indicating that you own more than you owe, or negative, showing that your debts exceed your assets. Either way, use it as a starting point you can build from.

Understanding your net worth helps you make informed decisions about spending, saving, and investing. It’s like having a financial snapshot that guides your future planning.

2. Create a realistic household budget

A well-planned budget is a fundamental tool for effective financial management. Start by tracking all your income and expenses over a month. Include everything—your salary, side income, bills, groceries, transportation, entertainment, and even small purchases like coffee or snacks.

Once you have a clear picture of your spending habits, categorize your expenses into essentials and non-essentials. Essentials include housing, utilities, groceries, insurance, and debt payments. Non-essentials cover things like dining out, hobbies, and entertainment. Create a budget that aligns with your actual needs and goals, ensuring it’s realistic and sustainable.

Avoid the temptation to slash expenses too drastically, as this can lead to frustration and make you abandon your budget. Instead, find a balance that lets you meet your necessities while also setting aside money for savings and discretionary spending. 

Regularly revisit and adjust your budget to reflect changes in your financial situation, keeping it relevant and effective.

3. Build an emergency fund

Life is unpredictable, and unexpected expenses can arise at any time. An emergency fund acts as a financial safety net, providing peace of mind and protecting you from potential financial hardship.

Aim to save enough to cover three to six months of living expenses. If that seems daunting, start with a smaller goal, such as saving $1,000. Begin building your emergency fund now and contribute to it regularly. Keep this money in a separate, easily accessible account so it’s available when needed but not tempting to spend on non-emergencies.

An emergency fund helps you navigate situations like job loss, medical expenses, or unexpected repairs without derailing your long-term financial plans. 

4. Save for retirement early and consistently

Saving for retirement might seem distant, but starting early gives your money more time to grow through compound interest. 

If your employer offers a retirement plan like a 401(k) or 403(b), take advantage of it. Contribute enough to receive any employer matching contributions — this is essentially free money added to your retirement savings.

As your income increases, consider boosting your contributions. Even small increases can significantly impact your retirement fund over time. Additionally, explore other retirement savings options, such as traditional or Roth Individual Retirement Accounts (IRAs), to further secure your financial future.

Consistent saving, even if modest, sets the foundation for a comfortable retirement and reduces financial stress later in life. It’s an investment in your future self.

5. Manage and reduce debt

Debt can hinder your financial progress, but with a strategic approach, you can manage and eliminate it over time. Begin by listing all your debts, including balances, interest rates, and minimum payments. This includes credit cards, student loans, car loans, and mortgages.

Develop a plan to pay off your debts. One strategy is focusing on high-interest debts first, as they cost you the most over time. Alternatively, you might choose to pay off smaller debts first to gain momentum and a sense of accomplishment.

Consider reducing discretionary spending and redirecting those funds toward debt repayment. Avoid accumulating new debt by limiting unnecessary purchases and using credit responsibly. 

By actively managing your debt, you’ll free up more income for savings and investments, bringing you closer to your financial goals.

6. Protect yourself with insurance

Insurance is a vital component of a comprehensive financial plan. It safeguards you and your loved ones from significant financial loss due to unexpected events.

Ensure you have appropriate coverage in the following areas:

• Health insurance: Covers medical expenses and protects against high healthcare costs.
• Life insurance: Provides financial support to your dependents in case of your passing — especially important if others rely on your income.
• Disability insurance: Replaces a portion of your income if you’re unable to work due to illness or injury.
• Homeowners or renters insurance: Protects your property and belongings from damage or theft.
• Auto insurance: Covers expenses related to car accidents or vehicle damage, often required by law.

Regularly review your policies to ensure they meet your current needs and adjust coverage as your circumstances change. Adequate insurance provides peace of mind and financial security.

7. Plan for healthcare contingencies

Planning for potential healthcare emergencies is essential, even if it’s uncomfortable to consider. Establishing a healthcare contingency plan ensures your wishes are respected if you’re unable to make decisions for yourself.

Set up a healthcare power of attorney, designating someone you trust to make medical decisions on your behalf. Additionally, create a living will to outline your preferences for medical treatment in specific situations.

And, to protect your finances, set up a power of attorney that gives someone you trust the ability to manage your finances for you in case you’re ever incapacitated for more than a few days.

Having these documents in place provides clarity and guidance for your loved ones during difficult times, reducing stress and uncertainty.

8. Keep your financial records organized

Staying organized with your financial records makes managing your money more efficient and less stressful. Keep track of all your accounts, debts, bills, and important documents in a secure and accessible place.

Consider using Quicken Simplifi or other apps to monitor your finances, set reminders for bill payments, and track spending habits. This not only helps you stay on top of your financial obligations but also provides a comprehensive view of your financial health.

In case you become unable to manage your finances, organized records make it easier for someone you trust to step in and handle your affairs, ensuring continuity and preventing missed payments or other issues.

9. Invest wisely for the future

Investing is a powerful tool for growing your wealth over the long term. By putting your money to work, you can achieve financial goals more quickly and build a solid foundation for the future.

Before you start investing, educate yourself about different investment options and strategies. Consider your risk tolerance—the level of risk you’re comfortable with—and choose investments that align with your financial goals and timeline.

Diversify your investments across various asset classes, such as stocks, bonds, and real estate, to manage risk effectively. You might also seek advice from a financial advisor to develop an investment plan tailored to your needs.

Remember, investing is a long-term endeavor. Stay patient and focused on your goals, even during market fluctuations. Consistent investing can significantly enhance your financial position over time.

10. Prepare your estate plan

Estate planning ensures that your assets are distributed according to your wishes, prodviding for your loved ones after you’re gone. It’s an important step for anyone, regardless of wealth.

Start by drafting a will, specifying how your assets should be divided and naming guardians for any minor children. Without a will, state laws will determine the distribution of your assets, which may not align with your preferences.

Consider establishing a living trust to help your heirs avoid probate, a potentially lengthy and costly legal process. A trust can also provide more control over how and when your assets are distributed.

Regularly review and update your estate plan, especially after major life events like marriage, divorce, the birth of a child, or significant financial changes. Keeping your plan current ensures it reflects your wishes accurately.

Final thoughts

Managing your personal finances is a lifelong endeavor, but taking proactive steps now can set you on a path to long-term security and peace of mind. Remember, it’s about making informed decisions, staying organized, and adapting as your circumstances change. 

With dedication and perseverance, you can achieve your financial goals and enjoy a stable and prosperous future.

If you’re just getting started, congrats! Creating a budget is a powerful tool that can help you take control of your finances. 

Use these 14 tips and strategies to create a more secure financial future.

1. Understand why budgeting is important

Budgeting is all about making your money work for you. When you have a budget, you know exactly how much money you have coming in and how much is going out. This clarity can reduce stress and help you feel more confident about your financial decisions.

Without a budget, it’s easy to overspend and find yourself short on cash when you need it most. By keeping track of your income and expenses, you can plan for the future, set financial goals, and avoid unnecessary debt. It’s like having a roadmap that guides you toward your financial dreams.

2. Know your monthly income

First things first, let’s figure out how much money you have coming in each month. This includes:

• Your paycheck: The amount you take home after taxes and deductions.
• Side jobs or freelance work: Any extra income from gigs or part-time jobs.
• Other sources: This could be rental income, alimony, child support, or any government benefits.

Add up these amounts to get your total monthly income. You’ll want to know the resources you have before you move on to the next step. Knowing this number sets the stage for everything else to follow.

3. List your monthly expenses

Next, let’s look at where your money is going. Expenses can be divided into two main categories: needs and wants.

Needs (essential expenses):

These are things you need to live and work.

• Housing: Rent or mortgage payments.
• Utilities: Electricity, water, gas, internet, and phone bills.
• Groceries: Food and household supplies.
• Transportation: Gas, public transit fares, car payments, and insurance.
• Healthcare: Insurance premiums, medications, doctor visits.
• Debt payments: Minimum payments on credit cards, student loans, or other debts.

Wants (non-essential expenses):

These are things that improve your quality of life but aren’t necessary.

• Dining out: Restaurants, coffee shops, takeout.
• Entertainment: Movies, concerts, streaming services, hobbies.
• Shopping: Clothes, gadgets, gifts.
• Vacations: Travel expenses, hotel stays.

Write down all your expenses, being as detailed as possible. This step might take some time, but it’s necessary to understand your spending habits fully. Think of it as getting to know yourself better financially.

Find all your expenses automatically with Quicken Simplifi.

4. See what you’re working with

Subtract your total expenses from your total income to see where you stand financially:

Income – Expenses = What’s Left to Spend

If the result is a positive number, that’s fantastic! It means you have money left over after covering your expenses. You can use this extra money to pay off debt faster, add more to your savings, or invest for the future.

If the result is zero, you’re spending exactly what you earn. While you’re not overspending, it’s wise to be cautious. Without any surplus, unexpected expenses could easily put you into debt.

If the result is a negative number, it shows you’re spending more than you earn. Don’t worry — think of it as a sign that it’s time to make some adjustments. That’s exactly why we budget!

5. Set clear financial goals

Setting financial goals gives your budget direction and purpose. It’s helpful to ask yourself what you want to achieve financially. This could involve various objectives that are important to you.

One common goal is to build an emergency fund. Paying off debt is another worthwhile goal. 

Reducing or eliminating balances on credit cards, student loans, or other debts can relieve financial stress. By focusing on debt repayment, you free up money for other priorities and reduce the amount you pay in interest over time.

You might also aim to save up for big purchases such as a car, a home, or a vacation. Planning ahead makes these dreams more attainable.

Planning for retirement is another great long-term goal. Starting or increasing contributions to retirement accounts like a 401(k) or IRA ensures you’re preparing for your future. The earlier you start saving for retirement, the more time your money has to grow.

Writing down your goals and being specific can make a big difference. For example, saying “I want to save $5,000 for an emergency fund within one year” gives you a clear target to work toward. Having precise objectives helps you stay motivated and allows you to track your progress effectively.

By identifying and outlining your financial goals, you give yourself a plan to follow. This approach makes it easier to make decisions that align with what you truly want to achieve, keeping you focused and empowered on your financial journey.

6. Choose a budgeting method that works for you

There are different ways to budget, and it’s important to find one that fits your style.

Choose a method that feels comfortable and manageable. Remember, the best budget is the one you’ll stick with.

The 50/30/20 rule

• 50% for needs: Essential expenses like housing, utilities, and groceries.
• 30% for wants: Non-essential spending like dining out and entertainment.
• 20% for savings and debt repayment: Building your emergency fund, saving for retirement, or paying extra on debts.

Zero-based budgeting

Assign every dollar a job until you have zero dollars left unassigned. This method ensures you’re intentional with all your money.

Remember, you don’t want to spend every dime you make — send some of those dollars toward things like savings or paying down debt.

Envelope budgeting

The envelope budgeting method is a straightforward way to manage your money by using envelopes (most people use digital “envelopes” these days) to allocate funds for different spending categories. Imagine labeling envelopes with categories like groceries, rent, utilities, and entertainment. 

At the beginning of each month or pay period, you put the budgeted amount of cash into each envelope corresponding to that expense. This visual and tactile approach helps you see exactly how much you have left to spend in each area, making it easier to stick to your budget.

Want to use digital envelopes? Quicken Simplifi can help.

This method makes budgeting more tangible and can help prevent overspending. When an envelope is empty, it signals that you’ve reached your limit for that category until the next budgeting period. 

It’s a simple system that encourages you to plan ahead and prioritize your expenses. Even in today’s digital world, the envelope budgeting method remains a powerful tool for gaining control over your finances and developing better spending habits.

7. Track your spending

Keeping track of your spending helps you stay on top of your budget. You can use:

• Budgeting apps: Tools like Quicken Simplifi can sync with your bank accounts to track expenses automatically.
• Spreadsheets: If you prefer a hands-on approach, create a spreadsheet to log your transactions.
• Pen and paper: A simple notebook works too!

Review your spending regularly, at least once a week. This habit helps you catch any issues early and adjust as needed. It’s like checking your mirrors while driving—you stay aware of your surroundings.

8. Adjust your spending habits where necessary

If you find that you’re spending more than you earn or not saving as much as you’d like, it’s time to make changes.

Cut back on wants:

• Eat out less: Try cooking at home more often.
• Limit entertainment expenses: Look for free or low-cost activities.
• Reduce shopping: Ask yourself if you really need that new item.

Reduce costs on needs:

• Shop around for better deals: Compare prices for insurance, phone plans, or utilities.
• Conserve energy: Lower your utility bills by turning off lights or adjusting your thermostat.
• Use public transportation: If possible, to save on gas and parking.

Making small changes can add up over time, freeing up money to put toward your goals. Remember, it’s about making choices that align with what’s most important to you.

9. Build and maintain an emergency fund

Life is full of surprises, and having an emergency fund can give you peace of mind. It’s like having a safety net for those unexpected moments that life throws your way. The goal is to save enough to cover three to six months of your living expenses. That might sound like a lot, but don’t worry—you can start small.

If saving that much feels overwhelming, begin with a goal of saving up $500 or $1,000. Starting with a smaller target makes it more manageable, and reaching that first milestone can motivate you to keep going. Remember, every little bit adds up over time.

Making regular contributions is key. Try setting aside a fixed amount each month, even if it’s just $50 or $100. You can set up automatic transfers to your savings account so you don’t have to think about it. This consistent approach helps your emergency fund grow steadily without feeling like a burden.

Keep your emergency fund accessible but separate from your everyday checking account. Using a dedicated savings account that’s easy to access when needed ensures that the money is there for true emergencies without the temptation to dip into it for regular expenses.

10. Prioritize your savings by paying yourself first

Treat your savings like a regular bill that you pay each month. By making it a mandatory expense, you’re committing to your financial well-being and integrating savings into your routine naturally.

Automate your savings to make the process effortless. Set up automatic transfers from your checking account to your savings or retirement accounts. This way, your savings grow steadily without requiring your monthly attention.

Choose an amount that fits comfortably within your budget — even $50 a month can make a significant difference over time. As your income increases or debts decrease, consider raising this amount to build wealth faster while still enjoying your current lifestyle.

By paying yourself first, you’re investing in your future and enhancing your financial security. This proactive step empowers you to take control of your finances and move confidently toward your long-term goals.

11. Stay consistent and be patient

Budgeting is a marathon, not a sprint. It might take a few months to get the hang of it, and that’s okay.

• Review your budget regularly: Adjust as needed based on changes in income or expenses.
• Don’t get discouraged by setbacks: Unexpected expenses happen. Learn from them and keep moving forward.
• Celebrate milestones: When you reach a goal, acknowledge your achievement.

Remember, consistency is key. Over time, budgeting will become second nature, and you’ll see the benefits in your financial well-being.

12. Use tools and resources

There are many tools available to help you succeed.

• Budgeting software: Programs like Quicken Simplifi can make budgeting easier.
• Financial education: Books, podcasts, and online courses can provide valuable insights.
• Support networks: Friends or online communities can offer encouragement and advice.

Using these resources can enhance your budgeting skills and keep you motivated.

13. Review and adjust your budget periodically

Life is full of changes, and your budget should change with it. When significant life events happen—like getting married, starting a new job, or having a child—they can greatly affect your finances. These milestones often bring new expenses and priorities, so it’s important to adjust your budget to match your new situation.

Changes in income are another reason to revisit your financial plan. Whether you get a raise that increases your earnings or face a job loss that reduces them, updating your budget helps you manage your money effectively under new circumstances.

As you accomplish your financial goals, set new ones to keep yourself moving forward. Achieving a goal is a great feeling, and having fresh objectives ensures you continue to progress and stay motivated.

By reviewing your budget regularly, you’ll make sure it stays relevant and works for you. This habit allows you to respond to life’s changes promptly, keeping your finances on track no matter what comes your way.

14. Be kind to yourself

Lastly, remember that budgeting isn’t about perfection.

• Mistakes happen: If you overspend one month, don’t beat yourself up.
• Learn and move on: Identify what went wrong and make changes.
• Keep your why in mind: Focus on the reasons you’re budgeting, like financial freedom or reducing stress, and use those reasons to stay motivated. (For even more motivation, try a vision board.)

The important thing is that you’re taking positive steps toward a better financial future, and that’s something to be proud of.

Budgeting is a journey, and every journey begins with a single step. By following this guide, you’ll be well on your way to taking control of your finances.

Buying a home will also, in most cases, be the most expensive purchase you’ll ever make. With the average home value sitting just under $410,700—plus inspections, closing costs, agent commissions, mortgage loans, and interest rates—buying a home can feel a bit overwhelming, especially for first-time homebuyers.

While homeownership takes some serious planning, it’s definitely doable. Use these tips and strategies to save up enough money for a new place of your own.

So, how much will you need?

The short answer is that it depends on a few factors. Do you want to build your own place? Will the property you’re looking at need repairs or renovations? What does your credit look like? 

Here’s the bottom line: you’ll need enough money to cover the costs of buying the home, plus any renovations needed and the additional costs that come with moving. Plus, you’ll need to handle the ongoing costs of your mortgage, property taxes, and insurance. Let’s take a look.

Your down payment

Your biggest upfront expense when buying a home will usually be the down payment — you’ll pay a percentage of the home’s purchase price before moving in, and you’ll borrow the rest. This is often required by the mortgage lender to lower their risk.  

How much can you plan on paying? Well, that depends on a variety of factors (including your credit score), but plan on a minimum of 10% of the purchase price. 

If your credit score isn’t in the upper echelon (hey, no judgment), expect to put down close to 20% for your best chance of consideration. This can also help you sidestep private mortgage insurance (PMI), which would make you responsible for a lender-protection premium.

Remember, buying a home isn’t like clothes shopping — there’s often some wiggle room in the price. Negotiating can make a real difference in your down payment savings as well as your mortgage.

Closing costs 

Along with your down payment, you’ll be responsible for taking care of closing costs — separate fees for the legal process of transferring home ownership. 

If this is your first time buying a home, make sure you factor in those closing costs when you’re starting to crunch the numbers. They’ll usually be around 3-6% of your mortgage amount. 

Mortgage 

Whatever you don’t have in cash, you’ll need to borrow. That total amount can be eye-popping, especially for a first-time buyer. Just remember you’ll have a long time to pay it back — often 30 years. 

The other piece of good news is that interest rates tend to be lower for homes than other loans. That’s because the house itself acts as collateral. Any good real estate agent can help you run the numbers to see what your monthly payments will be at different loan amounts and rates.

Taxes and insurance

Your new home will come with annual property taxes, and your mortgage lender will require you to keep a homeowner’s insurance policy on the property. In some mortgages, taxes and insurance will be covered by your monthly payments. In others, they won’t be. 

Be sure you understand whether these are separate costs you’ll need to cover.

Home repairs and renovations

It’s easy to focus on saving money for your new home, but don’t forget any additional expenses you may need to put into your existing residence to sell it. A lived-in home can definitely need a little TLC when it comes time to change ownership. 

A walk-through with a realtor or home inspector (or both) will give you an idea of what you may need to put into your home before you sell it.

On the other side of the deal, be aware of repairs and renovations when buying your new home too — especially if you’re moving into a fixer-upper or a home in need of upgrades. Stay mindful of what’s realistic given your budget. 

It can be tempting to spend every penny you save up on the purchase price of the home itself, but it’s a good idea to hold some of those funds back for unexpected expenses. You don’t want to find yourself in a tough situation if you need to repair a deck, for example, or if your air conditioner gives up the ghost. 

Moving costs

No matter how excited you are about your new place, moving can be stressful. To mitigate that headache as much as possible, consider hiring a professional moving company. 

While it may be alluring to round up a few pals and rent a U-Haul, that runs the risk of damaging your possessions, not to mention the risk of personal injury. 

When hiring movers, take a look at online reviews and make sure the company operates across the entire geographical region of the move. Budget for the move itself plus a tip for your movers.

Consider compensating them based on the size of the move, their efficiency, and the weather — $50 per mover will show them they did a great job. 

How can you save to buy a home?

Ready to start saving for the home of your dreams? These 9 tips can help you afford a wonderful property you can live and thrive in for years to come. 

1. Set your savings goals

The best way to get started is by deciding exactly what you can spend. 

For your target mortgage payments, start with your gross monthly income — your monthly pay before things like taxes get taken out. Multiply that number by 0.28 to figure out 28% of it. Ideally, you want to keep your mortgage payments at or below that amount.

For your down payment, shoot for 20% of the price if you can. The more money you can put down, the more you can reduce your lender’s risk, so the better the rate you’re likely to get. 

Once you have your targets, set a date for when you want to purchase the home, save up for that down payment, and start looking! Consider stashing your nest egg in a high-yield savings account to make your money go that much further. 

2. Budget, budget, budget (but make it easy)

Okay, this might seem sort of obvious, but it’s important to stay on track with your savings goal. While you may have the discipline to keep setting money aside when you first formulate your savings plan, staying disciplined and seeing it through can be tough. 

A personal finance app can help immensely. 

An app can automatically track your spending and help you stick with your goals. It can also help you discover easy places where you can save — every little bit helps!

Need some help figuring out a budget that fits your needs? We’ve got you covered.

3. Save windfalls of cash

Tax refund bigger than you expected? Throw it into your savings. Did your Great-Aunt Rita leave you a few bucks in her will? Savings account, for sure. Even if you’ve sold your old cache of Pokemon cards for a small fortune, you can pad your savings with that extra money. 

The more you save, the closer you’ll be to buying a home. When your funds find a home in your bank account, you can watch the money accrue interest and grow your savings.

4. Take on a side hustle

There’s a thriving gig economy in the United States and the opportunity to make extra cash has never been more prevalent. If you want to supplement your income, there are plenty of ways to make it happen. 

Own a car? Give people rides via Uber or Lyft, or even deliver groceries with InstaCart. If you’re an artist, Etsy provides a great platform to sell your work. Or you can even rub elbows with artists and actors working as a production assistant for shows in your hometown! 

Ready to get your side hustle started? Take a look at these 25+ ways to make extra income. 

5. Cut down on costs

Living frugally is especially helpful when saving for a large purchase, and it’s a good idea to cut down on costs wherever possible. 

This might look like skipping your daily latte and treating yourself on the weekend, or getting your inner Wolfgang Puck on and cooking at home instead of grabbing takeout. If you live in a neighborhood where walking or biking is an option, skip the car and save on gas (or ditch those Uber fees). 

Sift through your bank statements (or just look at your app) and see where your money is going — taking stock of superfluous purchases can make a huge difference in saving to buy a home.

Saving money is a surefire way to move toward your goals — we’ve got 14 tips for stacking extra cash. 

6. Go easy on the credit card

Racking up credit card debt is a surefire way to delay your financial independence and keep you indebted — especially if you’re tallying up big balances with higher interest rates. If you’re carrying a lot of credit card debt, it’s a good idea to pay it off before you start saving. 

Otherwise, your credit score could identify you as a risky investment to lenders, and you’re going to battle high interest rates on a mortgage.

Need to a plan to pay off your debt? You guessed it — we can help with that too.

7. Save money with a home inspector

When you find a home you love, be sure to hire an independent home inspector. A home inspection can minimize the risk of purchasing a defective property. 

Make sure the house is to your satisfaction before signing the agreement — you don’t want to purchase a new home and then find out a few weeks later that you’ll need to replace the roof!

Ask around among your family and friends to find the right inspector for you — it could end up saving you tens of thousands of dollars down the road. 

8. Down payment assistance

If you’re a first-time homebuyer, you may qualify for down payment assistance from grants, loans, or other assistance programs. Look into programs in your area to see what might be available, from grants to forgivable or deferred loans with no interest. You can also consider an FHA loan if you qualify.

9. Crowdsource your down payment fund

People set up crowdfunding for plenty of things these days — consider tapping your friends and family via GoFundMe to make a down payment on the home of your dreams. 

The inflation rates of the past few years have strapped many potential homebuyers for cash. A GoFundMe could be a great avenue to jump-start your savings.

Closing costs and closing thoughts

For most first-time buyers, a home will be the most expensive purchase you’ve ever made. But don’t worry, you’ve got this!

By calculating a figure that’s within your means and staying disciplined with your budget, you can make the down payment and closing costs, cover your mortgage payments, and enjoy the perks of homeownership.

Ready to start saving for your dream home? Download Quicken Simplifi today to automate your savings goals, monitor your spending, and buy a home you’ll love.

Use these 14 tips to find your perfect match and get the most out of your new account.

1. Understand the benefits of a savings account

A savings account isn’t just a place to stash money—it’s a tool that helps you:

• Build an emergency fund: Be prepared for unexpected expenses.
• Earn interest: Watch your money grow over time.
• Organize your finances: Separate your spending money from your savings.

By keeping your checking and savings accounts separate, you can track your spending better and stay on top of your financial goals.

2. Choose the right type of savings account

Not all savings accounts are created equal. Consider what suits your needs:

• Traditional savings accounts: Easy access but may have lower interest rates.
• High-yield savings accounts: Offer better interest rates to grow your money faster.
• Online savings accounts: Often have higher interest rates and lower fees since they save on overhead costs.

Think about your goals and pick an account that aligns with them.

3. Explore high-yield options and alternatives

Maximize your savings potential:

• Money market accounts: May offer higher interest rates and check-writing privileges.
• Shop around: Don’t settle for the first offer—compare different banks and accounts.

The right account can make a big difference in how quickly your savings grow.

4. Compare interest rates and fees

Interest rates and fees can significantly impact your savings:

• Compare interest rates: Even a small difference can add up over time.
• Watch out for fees:
  • Maintenance fees: Monthly charges just for having the account.
  • Minimum balance fees: Fees if your balance drops too low.
  • Withdrawal fees: Charges for making too many withdrawals.

Aim for an account with a high interest rate and low or no fees to maximize your savings.

5. Look for essential account features

Make sure your savings account has features that make saving easy:

• Mobile banking: Check your balance and transfer money from your phone.
• Online transfers: Link to your checking account for quick transfers.
• Automatic deposits: Set up regular transfers to your savings.
• Convenient ATM access: Avoid fees by using your bank’s ATMs.

These features save you time and help you manage your money effortlessly.

6. Ensure your bank is FDIC insured

Safety first! Verify that the bank is insured by the Federal Deposit Insurance Corporation (FDIC). This means your money (up to $250,000 per account category) is protected if the bank fails. It’s peace of mind knowing your savings are secure.

7. Gather necessary documents

Before you apply, have these documents ready:

• Valid ID: Driver’s license or passport.
• Social Security number: For identification purposes.
• Proof of address: Utility bill or lease agreement.

Having everything available makes the application process smooth and quick.

8. Decide between individual and joint accounts

Think about who will access the account:

• Individual account: Only you can deposit and withdraw money.
• Joint account: Shared access with someone else, like a spouse or family member.

Choose what works best for your situation and financial goals.

9. Consider Certificates of Deposit (CDs)

If you’re okay with not touching your money for a while, CDs might be a good option:

• Higher interest rates: Often more than regular savings accounts.
• Fixed term: Money is locked in for a set period (e.g., 6 months, 1 year).
• Early withdrawal penalties: Be sure you won’t need the money before it matures.

CDs can boost your savings if you’re comfortable with the commitment.

10. Manage your savings effectively

Stay on track with your savings goals:

• Set clear goals: Know what you’re saving for, like a vacation or a down payment.
• Use automatic transfers: Make saving effortless by setting up regular deposits.
• Monitor your account: Keep an eye on your balance and interest earnings.
• Adjust as needed: Life changes, and so might your goals—adjust your plan accordingly.

Effective management helps your savings grow steadily.

11. Be aware of common challenges

Opening a savings account can come with a few bumps:

• Minimum deposit requirements: Some accounts need a certain amount to open.
• Understanding terms and conditions: Take time to read the fine print.
• Meeting identification requirements: Ensure you have all necessary documents.

Being prepared helps you avoid surprises and choose the best account for you.

12. Use financial planning resources

Don’t go it alone—use available resources:

• Financial advisors: Get personalized advice for your situation.
• Online tools and apps: Help with budgeting and tracking your savings.
• Educational materials: Learn more about managing your finances effectively.

These tools can empower you to make informed decisions.

13. Consider your banking preferences

Think about how you like to bank:

• In-person banking: Prefer face-to-face interactions? A traditional bank might be best.
• Online banking: Comfortable with digital? Online banks often offer better rates.
• Mobile access: Ensure the bank has a good app for on-the-go management.

Your comfort and convenience are important in choosing the right bank.

14. Protect your account

Keep your savings safe:

• Set up account alerts: Get notified of any unusual activity.
• Use strong passwords: Protect your online banking access.
• Be cautious with information: Never share your account details unnecessarily.

Security measures help safeguard your hard-earned money.

Opening a savings account is an exciting step toward achieving your financial goals. By considering these tips and choosing the right account for your needs, you’ll be well on your way to a brighter financial future. Happy saving!

If you need to manage your business and personal finances, Quicken Classic Business & Personal offers both in one convenient package — see them separately, with the convenience of managing all your money in one place.

For everything else, let’s take a look at the best small business tools you can use today in 10 different categories.

Business tool and app categories

1. Customer relationship management (CRM)
2. Email marketing 
3. Social media management
4. Project management
5. Team communication and collaboration
6. Marketing automation
7. E-commerce
8. Design and productivity
9. Analytics and SEO tools
10. Accounting and bookkeeping

Let’s take a closer look at these tools and how you can use them to help you in your business endeavors!

Tools for customer relationship management (CRM) 

Before the convenience of storing information and contacts on our computers, some of you may recall the Rolodex, a rotating card-filing device whose very job it was to manage the many numbers, names, and miscellaneous everyday information in a person’s life. 

A CRM is your business’s hub for managing customer relationships. It’s like having a supercharged version of that old Rolodex, not only storing contact info but also tracking interactions, sales progress, and customer satisfaction. 

Think of it as a tool that helps you nurture leads, close deals efficiently, and build lasting customer loyalty.

Here are a few options:

Salesforce

Forbes magazine calls Salesforce the best solution “for large or scaling businesses and sales teams that need a very customizable solution.” Having been out there in the trenches for over 20 years, it has an amazing number of integrations that’ll make your business life better.

HubSpot

The new version of Hubspot is powerful — and has a great free version to try out — but the truly unique features are on the higher tiers so you do pay a premium. Great for mid-sized businesses, it’s in the running as one of the best solutions out there.

Zoho

For a unique and robust feature set for a lower price, Zoho could win you over with its customizable interface and fantastic tools. But, like HubSpot, it hides its best features, including AI, in the higher-priced tiers, where smaller businesses might hesitate to tread if they’re on a budget. 

Apptivo

This tool received an “Outstanding! 4.5 Stars” from PCMag. Hailed as a solid example of an “all-around CRM solution that anticipates and meets the needs of SMBs,” its powerful features, affordable pricing, and intuitive interface make it a natural top choice in CRMs.

Monday.com 

One of the newer players, it has a well-designed interface with customizable workflows, integrations, and dashboards. There are so many great ways to collaborate and communicate right in the app. Expect to hear great things from them in the future!

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Email marketing tools

Imagine having a direct line to your customers’ inboxes and being able to offer a personal touch that traditional marketing can only sometimes achieve. Email marketing is targeted and tailored, allowing you to send specific messages to specific audiences. 

This is a focused approach that helps build stronger relationships, keeps your brand at the top of the customer’s mind, and often leads to higher engagement and conversions. It’s marketing, but with a twist that uses more intelligence and heart and a little less old-school bravado.

Top email service providers:

Kit (formerly ConvertKit)

A powerhouse for creating newsletters and all your other email marketing needs, you can also sell subscriptions, automate multiple email marketing sequences, and monetize your content. Kit has long been among the elite of email marketing tools, with all the features you need to believe that this truly is one of the best.

Features:

• Landing pages
• Email designer
• Integrations

Mailchimp

One of the first pieces of software that springs to mind when you think of email marketing, Mailchimp is easy to use and has a slick, user-friendly interface. One of the most full-featured of the list, you will no doubt find all the tools you need for your email marketing efforts.

Features:

• Email automation
• Reporting & analytics
• Audience management

Constant Contact

This software has been around in the email marketing arena since 1995 and seems to cater mostly to a few very niche markets. It still has quite a few flashy features that will appeal to some.

Features:

• SMS marketing
• Social media marketing
• Event marketing

Mailerlite

Free for up to 1000 email addresses, this no-frills solution may be what you’re looking for if you’re just starting out in email marketing. It may be one of the cheaper solutions, but its features help it keep up with the others, at least for a while.

Features

• Website and blog builder
• Newsletters
• Email verifier

EmailOctopus

An affordable, intuitive service that offers great customer service and some great marketing tools. It truly is email marketing made easy. Offers some of the same features that the more expensive packages do.

Features:

• Build beautiful emails
• Tailor your messages
• Connect and integrate with your favorite apps

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Social media management tools

These tools can help your small business by making it easy to post content on various social media platforms and guiding people to engage with your posts. They save you time by automating boring and repetitive tasks, allowing you to focus on creating powerful and fulfilling connections with your customers. 

Popular platforms include:

Sprout Social

Sprout Social is great for most if not all, social media management tasks. It also offers excellent analytics and reporting options. Sprout Social is one of the most robust offerings we’ve included in our list.

Hootsuite

Hootsuite has been around a long time and has developed into a powerful suite of tools for social media management. It integrates with Canva and Grammarly and has stock photos available for your social media posts.

Buffer 

Behind a simple user interface lies a powerhouse that helps boost your social media management potential. Allows you to create social media content using their content library or even their AI tools. Then you can analyze the data and create reports that will help your future campaigns.

HubSpot

Built alongside its powerful CRM, this suite of social management tools may be all you need to run and maintain your social media campaigns.

Zoho Social

Zoho Social’s real-time monitoring dashboard helps business owners discover what’s being said about their brands and products. Easily search and track a keyword, and respond when you need to. Zoho Social is ultimately a robust solution from a powerful suite of tools, including CRM and social media management.

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Project management software

These software solutions help your business stay organized, meet deadlines, and keep everyone on the same page. They create project workflows by letting you assign tasks and track progress on those tasks. Most importantly, they make communication central to the project, which offers smoother and more efficient teamwork. 

Leading project management tools:

Asana

Consistently rated the best project management software with a very capable free version. Business owners who live and breathe productivity love Asana for its ease of use and powerful standard features.

Trello

A long-time favorite of web developers back in the day, Trello helps you plan and maintain massive websites and build new ones. It’s still a great option for any kind of small business in need of tracking productivity.

Monday.com

A new favorite among content teams, Monday.com has become a favorite for its powerful ability to trim massive workloads and create customizable boards to keep track of projects and tasks.

Jira

Jira is project management software developed by Atlassian for Agile teams and has been great for managing difficult workloads in many ways since 2002. The software uses Scrum and Kanban boards to visualize workflows and run Agile sprints. If you use the Agile system, this could be a great tool for you.

Notion

I mention Notion because it offers both free and paid versions, and it has a massive army of followers creating templates you can use for whatever type of productivity problem you’re confronted with. I’ve used it for years in my personal and business products, and it’s powerful enough to scale to even bigger businesses. One of the most unique uses of Notion is to create a second brain for yourself.

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Team communication and collaboration tools

At this point, who hasn’t used Zoom for business conferencing?

These types of tools improve your business by making communication seamless, whether your team is remote or in the office. They help with scheduling meetings with prospective clients and setting up projects. They bring everyone together in real time, making it easier to collaborate and make quick decisions. 

Popular tool options:

Slack

Slack is the workhorse of many organizations, helping to keep teams on the same page and communicating through text, with the option to add images and other files too. It’s also a great collaboration tool, allowing teams to share documents in chats with colleagues, or even to organize them for yourself. A massive number of integrations make it worth its weight in gold.

Zoom

Zoom is the G.O.A.T. for video communications. With its new workspace, you can arrange and set up meetings and even use AI to help users improve productivity and work together more effectively.

Google Workspace

This list wouldn’t be complete without  Google Workspace. Emails, meetings, and document collaboration — it has everything a growing business needs to stay afloat, supplemented by the easy consonancy of the specific Google apps for your needs.

Microsoft Teams

This is Microsoft’s offering in the communications space, a suite of tools that also includes messaging, file sharing, and more. If you already use Microsoft for your other needs, it may be a good idea to stay within the ecosystem.

Discord

You may think Discord is only for YouTubers and gamers, but it’s actually a powerful suite of tools to help you stay connected to your team, collaborate, and share files. It has easy-to-navigate channels that you can create to organize discussions and topics, without overcrowding a space or losing track of information/details.

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Marketing automation tools

Marketing automation tools are all-in-one solutions for repetitive tasks that run across more than one marketing function, such as email campaigns, social media posting, and customer segmentation. They help organizations save time, personalize outreach, and nurture leads more effectively. 

Popular marketing automation platforms:

HubSpot

HubSpot offers everything for your business, from  CRM and social media management tools to operations management and list segmentation. This tool is expensive but powerful enough to run every part of your small-to-medium-sized company.

ActiveCampaign

It almost feels like everyone, from SaaS & tech companies to online creators and influencers, is using ActiveCampaign. It’s no surprise when you realize that this service offers businesses 900+ app integrations, like Instagram or even DocuSign and Google Sheets for the technical aspects of your business, improving an owner’s clientele reach and engagement across email marketing, content creation, and audience management, with the added utility of ActiveCampaign’s built-in AI for more help.

Marketo

Adobe Marketo Engage — also referred to as simply Marketo — is, according to them, the “world’s largest marketing automation platform.” It’s a suite of tools for creative businesses that will help in their marketing efforts. It’s backed by Adobe, but expect to pay a premium for their help. A powerful option with its profiles, audiences, and personalized content.

Drip

Drip is a niche email marketing platform for online sellers geared toward e-commerce. If you sell online, you should check out their pricing, features, usability, and support.

GetResponse

Not only does GetResponse help with email marketing and automation, but it takes care of SMS marketing and paid ads as well. It’s a powerful and robust platform for a reasonable price.

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E-commerce platforms

The best e-commerce platforms share a few key features: they’re user-friendly, offer customization options, and provide secure payment processing. They also support seamless integration with other tools like marketing automation and inventory management, and they have strong customer support to help businesses succeed online. 

Top e-commerce platforms:

Shopify

Shopify is the leader in e-commerce. Easy to set up and run, you can open a store in minutes and start earning money. The interface is intuitive and easy to use, and the platform is powerful through its use of integrations.

WooCommerce

WooCommerce made a name for itself by helping businesses create online stores on their WordPress websites. A powerful plugin that can help bloggers, business owners, and service-based businesses add products and services to their existing websites.

eBay

eBay is a selling powerhouse that’s been around for more than 25 years, helping regular people and various businesses to sell online even without paying for a custom website. eBay boasts more than 1.3 billion visits per month, so there’s no shortage of customers looking to place their bids.

Amazon

Everyone knows Amazon, but what many people don’t know is that people and small businesses can sell their own products under the umbrella of Amazon. With more than 2 billion monthly visits, anyone can be a successful seller on the platform.

Etsy

Etsy is known for supporting creative businesses and offering items like T-shirts, stickers, posters, jewelry, clothing, and templates. If you sell creative products, you can leverage Etsy’s 500 million monthly visitors and turn them into customers.

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Design and productivity tools

If you’re a graphic designer, you already know what tools like Photoshop and Illustrator can do for your business. But other businesses can harness the power of design tools too, helping them create a brand, documents, and graphic elements for their websites. 

Popular options:

Adobe Suite

Adobe Creative Cloud has long been known for software like Photoshop, Illustrator, and Premier Pro. They also have an awesome selection of stock images online. Industry-standard software that works flawlessly and will always be cutting-edge. Expect to pay a premium for quality.

Canva

Canva is quickly becoming a tool in the arsenal of many businesses that can’t do without it. A free-to-use graphic design tool, you can build your brand, brochures, social media assets, and templates all online. Powerful and multi-faceted, if you want ease of use here as opposed to the learning curve of some of the more professional offerings at hand, this is the software for you.

Google Drive & Workspace

Since Google is so accessible and an incredible cross-functional tool, it’s quickly become the go-to for many businesses that want to keep all their documents and information in one place. Add to this a cloud drive to store every asset and document, and you have a powerful, complete suite of tools for your business.

Microsoft Office

If you know Microsoft, you might remember when it offered a unique user experience and software support with Clippy, the ever-eager paperclip. While he’s no longer a part of Microsoft Office, Microsoft has since adapted to offer users what they really need:  a suite of powerful productivity tools that can help every aspect of your business, from creating PDFs to slide decks, and from email writing to database configuration. Microsoft can do it all for one low subscription price (and one less virtual paperclip’s critique of your choices as you create and design.)

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Analytics and SEO tools

Analytics and SEO are powerful tools for staying ahead of your competition. They provide insights into customer behavior, website performance, and market trends, helping businesses make informed choices. 

Essential analytics and SEO tools:

Google: Search Console, Analytics, Trends

Google Search Console is used to improve website performance, giving your business insight into how Google sees your site in the search results. 

Google Analytics tracks website traffic and user behavior with precise data about your audience and content performance, as well as providing you with reports of your business needs. 

Google Trends can help you see which products and services are trending, helping you navigate the market in the future.

SEMrush

This is a paid tool that goes a bit deeper than Google. It provides helpful insights into keywords and your competition. SEMrush breaks everything down into data that can be used to make critical decisions for your company.

Moz

A similar tool to SEMrush, Moz can help you target your content marketing, digital PR, and local marketing efforts.

AHREFs

AHREFs is best for creating backlinks and, more specifically, for its backlink authority checker and backlink analysis. It also implements a keyword explorer tool and a site audit tool, giving rise to strategic insight into competitors.

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Accounting and bookkeeping software

Accounting and bookkeeping tools keep track of where your money is going and where it’s coming from. These tools help you manage income, expenses, and taxes by automating the most difficult tasks, giving you more time to focus on running and growing your business. 

With everything in your business organized and accurate, you’ll have a clear picture of your finances and be ready for tax time without the usual headaches.

Quicken Classic Business & Personal

If you want a clean, easy-to-use business dashboard and custom reports galore — plus the most personal-finance tools of any accounting and bookkeeping software — Quicken Classic Business & Personal offers all the features you need for your growing business.

Why does this happen? Many times it’s because we stick too closely to the same old strategies, forgetting that innovation is what truly drives growth. We have to set goals that take this into account.

Imagine not just setting financial targets but redefining how you reach them. Short-term goals can help maintain momentum, but it’s the long-term, innovative vision that will really push your business forward.

Setting goals doesn’t have to be intimidating; it just means thinking differently and being willing to explore new opportunities.

So, how are you setting your goals and objectives? Will you stick to the usual path or try something bold?

Understanding business goals 

You might be asking: What is a business goal? 

A business goal is a specific, measurable objective that a company aims to achieve to drive growth and success.

You might think that setting a business goal is as simple as just promising to “make more money next year!” Instead, you have to look really deeply and think about adding value to the web design services you offer by building a new service offering in Q1 and measuring the results. 

You might also plan to reduce the cost of doing business by using sustainable business practices. What about creating viral marketing videos with industry influencers to boost your business’s brand visibility and drive an increase in social media engagement? 

It’s not just about putting a line in the sand; it’s how you plan to move your business to the next level.

Using business goals to drive innovation

Business goals can be the spark that challenges you to think creatively about how to achieve these goals. It pushes you to explore new strategies and ideas. 

When your goals are tied to growth and you’re always striving to improve upon the vision and methods for your business, they become more than just benchmarks — they’re opportunities to experiment and evolve.

So what’s the difference between conventional and innovative goals? It might be as simple as getting more specific.

A conventional goal might be to “increase sales by 10%.” Seems a bit bland, right? 

What about “boost sales by 10% by launching a virtual reality shopping experience?” 

The first is straightforward, but the second adds creativity and excitement to the mix!

New trends like AI-driven customer insights and sustainable business practices (think switching to eco-friendly packaging) are transforming the way informed business owners set goals. This big-brained way of thinking makes it essential to stay ahead of the curve. 

Goals aren’t just checkboxes; they’re guides that keep your business moving forward on the path to success while helping you adapt and thrive in a constantly changing landscape.

Speaking of AI, it can play a big role in goal-setting by analyzing data trends and predicting future outcomes. It also helps business owners set more accurate and achievable targets. 

Imagine having a personal strategist, offering insights on everything from customer behavior to how the market is behaving in 2025.

Business goals vs. objectives

First, you have to set your big, overarching goals, like “doubling customer growth.” Then you break it down into specific objectives, like “by launching a targeted marketing campaign in quarter one.” When your objectives are focused on your goals, every action moves you closer to the end of the trip.

Aligning objectives with your goals is like having the perfect bespoke roadmap for your road trip on Route 66 — without it, you’re just driving aimlessly looking at tourist traps. 

Choosing your business goals

When choosing business goals, the key is to dream big but keep it real, so your goals are inspiring and doable at the same time. Why make goals you know you can’t achieve? On the other hand, you must be aware of your capabilities so that you don’t underestimate yourself.

Here are a few other things to consider:

Overcoming challenges

With rapidly changing technology and market volatility, running a business can feel like you’re riding a rollercoaster. 

• For example, is rapid change in technology overwhelming you, causing you to continuously learn new tools or ways of doing things? Set goals and objectives for yourself and/or your employees to invest in a certain number of hours of training so that the skills of the team are prepared for anything! 
• Or are you struggling with a volatile market? Consider proactively changing your service offerings each quarter to better address market challenges. 
• What if you want to foster strong collaboration within your teams? One measurable objective could be hosting brainstorming sessions that could lead to innovative ideas and help tackle problems from multiple angles. 

The key is to make sure you set enough time aside on a regular basis to review your goals and objectives, making sure you’re tracking your progress and setting new goals along the way. 

It can be hard to find the time, especially when you’re running a small business, but it’s one of the most important things you can do for your company’s financial health.

Types of business goals

A well-thought-out business strategy includes various types of goals, such as financial, operational, customer satisfaction, and digital transformation goals. Having a wide range of goals ensures that different areas of the business are improving the balance of the business, helping the company stay agile and better equipped to handle challenges from multiple fronts.

Consider newer types of business goals, like digital transformation goals, which push businesses to use technological innovation in exciting ways. Consider spending time observing how your business uses technology, and set goals based on that. You might choose to fully automate your customer service using AI chatbots by next year — a goal that could help keep your business ahead of the curve.

Short-term and long-term goals

Short-term goals are the quick wins — things you can knock out in a few months — while long-term goals are the bigger visions, like where you want your business in 5 years. 

Think of short-term goals (or even objectives) as the building blocks that lead to your long-term success. For example, hitting monthly e-commerce sales targets (objectives) in order to double your business revenue in three years (end goal).

Using AI and modern tools to create your goals

It’s now easier than ever to use a chatbot or virtual assistant like Chat-GPT to help you set realistic goals for you and your business. These large language models use data to help you create goals as well as objectives that are tailored to your business.

Just like Tony Stark from the movie Iron Man, having your own pocket assistant to help you make decisions and complete simple tasks can free up more of your time to plan ahead for your business, or even just appreciate its successes through the goals you’ve set. 

The technology is getting advanced enough to provide unique solutions for each business situation.

Setting objectives and KPIs to meet your goals

Once you’ve decided on your goals, objectives are the specific ways you intend to reach those goals. 

Let’s say your goal is to grow revenue this year. Your objectives might include adding a certain number of new products to your online store or bringing a certain number of new customers to your website. 

With your objectives in place, Key Performance Indicators (KPIs) are the measurable ways you track progress toward those objectives. They let you know if you’re on the right track. Every week, you’d look at the number of new products you’ve added to your store and the number of new customers you brought to your website to see if you’re on track to meet your specific objectives.

By setting the right KPIs for each objective, you can stay focused and see how well you’re doing at achieving your business goals.

Key elements of effective objectives to drive business goals

The SMART framework (Specific, Measurable, Achievable, Relevant, Time-bound) is a solid map to make sure you’re setting the right objectives to meet your goals. 

For example, if your goal is to grow your revenue, one objective might be to increase your customer base. Here’s how to make sure that objective fits the SMART framework. 

1. Specific: Clearly define what you want to achieve.
   To make it specific: “Grow my email list.”
   Adding “email list” shows specifically what you want to achieve.
2. Measurable: Make sure you can track your progress.
   To make it measurable: “Grow my email list by 25%”
   Adding “by 25%” makes this objective one you can track in a meaningful way, to see whether or not you’ve reached it.
3. Achievable: Set a goal that’s realistic for you.
   Think about: Is growing your email list by 25% realistic?
   If you have a list of 100, that might be reasonable. If your list is 5,000, then increasing it by 25% might be too aggressive as an objective.
4. Relevant: Ensure it aligns with your broader goals.
   Reflect on: Will this objective help you reach your goal of growing your customer base?
   Yes, it probably will. While you can’t be sure that your email subscribers will become customers, it’s a good step as long as the people you’re adding are interested in your products and services.
5. Time-bound: Give yourself a deadline to stay motivated.
   Adding a deadline: “Grow my email list by 25% per year.”
   By adding a time frame, your objective becomes more measurable, and you can more easily determine whether that objective is achievable, too.

Tools and techniques for tracking your objectives

Tracking business goals, objectives, and KPIs has evolved, and tools like AI-driven analytics are now game-changers. These tools give you real-time feedback, letting you adjust quickly and improve on the go. This new way of tracking means you’re always refining and growing, making your goals smarter and more achievable every step of the way.

Taking action

In today’s challenging business world, setting goals is no longer just about checking boxes on nice-to-haves for your business; it’s about using innovation and embracing new solutions that push your business forward. 

By creating goals that challenge you to think differently, incorporating tools like AI, and setting clear, measurable objectives, you create a map that keeps your business adaptable in a changing market.

You never know when you might need to create an electronic signature. As more transactions shift online, chances are you’ll need to digitally sign something soon, if you haven’t already.

This article demystifies the process of creating electronic signatures by answering some common questions and walking step by step through the process.

How do we use digital signatures?

Common scenarios for using electronic signatures are:

• Sales contracts
• Purchase orders
• Vendor/supplier agreements
• Change orders
• New customer forms
• Real estate contracts 
• Intellectual property licensing & other legal agreements
• Non-disclosure agreements
• Employee onboarding
• Parental consent and age verification

As you can already guess, there are quite a few reasons why using electronic documents and signatures is better than paper documents and traditional handwritten signatures. A huge one is the environment. Imagine being able to process millions of documents without printing them out, saving all that paper as well as the landfill space when the documents are eventually tossed out.

Another is the way this technology enhances workflows by reducing turnaround times because you don’t have to print anything out and mail it. Everything changes by only having to manage a PDF file. 

Types of electronic signatures

Electronic signatures can take several different forms. These range from image signatures (just dropping an image file with your signature in the document) to formal document-signing platforms like DocuSign. 

Electronic signature apps and platforms are fast and easy to set up and use. E-signatures can be used in just about any type of document, including:

• Business contracts 
• Offers of employment
• Invoices
• Purchase orders
• Sales contracts

Digital signatures are like the next-level version of electronic signatures, using advanced technology certified by trusted third parties called certificate authorities. They meet the strict requirements of highly regulated industries by providing better security and enhanced authenticity, ensuring your documents are tamper-proof and verifiable. 

Step-by-step guide to creating an electronic signature

So, how do you digitally sign a document?

Paid software method

Step 1: Sign up for an account.

• Choose an e-signature software. There are many to choose from—these include but are not limited to SignWell, DocuSign, and Adobe Acrobat Sign.

Step 2: Upload your document

• Navigate to the document on your device and upload it to the server.

Step 3: Add your signature

• In general, there are three options for adding a signature (type, draw, upload a signature image) to your doc.
• Using your chosen method, place the signature on the document. Most software will employ a helper “wizard” to guide you through the process.
• Save and finalize the signed document.

Alternative methods for creating electronic signatures

Using Microsoft Word

• If the Word document contains a signature field, you can place your signature image directly on the signature line and sign.
• If you are using the Word app on your phone or other mobile device, place the cursor where you want the signature and choose “insert” and “signature line” from the menu, signing with your finger. Using this method, you don’t need special electronic signature software.

Using Google Docs

• You can place a signature image, but to create a new signature, you need an add-on with Google Docs.

Using Adobe Reader DC

• First, open a PDF document in the Adobe Acrobat Reader DC application. Click the “Fill & Sign” button in the right pane. Click the “Sign” button on the toolbar and select “Add Signature” to add your signature.
• Save the document.

FAQs about electronic signatures

Are you who you say you are? A word about authentication

Just like in a paper world, there is some trust involved. When you go into a bank, they trust you’re the person you say you are. The use of Qualified Electronic Signatures uses a key to ensure who you are, and one day, electronic signatures may even be more secure than signing in person.

Already in countries like Estonia, they are supplying digital citizens with cards they can swipe that will allow them to sign any document, start a business, and transact with a bank.

Should I use my full name?

You don’t have to use your full name unless you’re matching a previous authorized signature. You have the flexibility to use just your initials or any variation that feels right to you. This allows you to choose the option that best suits your needs and comfort level.

You can use any set of initials, or combinations of your first, middle, and last name.

Legal equivalence to a handwritten signature 

Using electronic signatures lets you sign documents digitally with the same legal weight as putting pen to paper. By using e-signatures on your documents, you’re simplifying your processes and saving time, all while knowing everything is official and secure.

Is this true for both a Mac and Windows computer?

Yes. All the above information is equally applicable to a Mac or Windows environment.

Do I need a stylus to sign my name on a touchscreen, or can I use my finger?

You can sign your name with a touchscreen if you’re using a laptop computer with a touchpad, or you can use your finger or a stylus on a touchscreen. You can also use a mouse to draw your signature directly onto the screen. 

What’s an electronic signature audit trail?

An electronic signature audit trail is basically just a log that tells who signed the document and when. E-signature companies use secure software to capture and protect this information.

The future of digital signatures

The more time we spend in the digital world, the more work these apps and platforms will need to do to ensure that contracts and transactions are on the up and up. 

Technology will help save time, reduce costs, and enhance the accuracy and security of all our transactions. It’s more convenient in our day-to-day lives and ensures compliance with the ever-increasing regulatory standards and the needs of businesses worldwide. 

As we continue to embrace this and other technologies, like AI and quantum computing, there is a call to developers to further streamline the process, making it even more accessible and user-friendly.

A business plan is a detailed document that outlines your business idea, its market potential, and the strategy for execution. I learned that every entrepreneur and business owner needs a business plan to attract potential investors, secure lenders, and ensure the successful growth of their new business.

With tools like ChatGPT, making a business plan has never been easier, but I’ll outline every step of the process so that you understand the why and how of a business plan.

Let’s get started!

Why do you need a business plan?

A complete business plan is a guide for business owners, detailing plans and outlining the milestones for reaching business goals. It allows you to share your findings with lenders and investors, as well as the all-important stakeholders who are helping to create this new business. It contains detailed market research and analysis, two of the most important tasks you must explore before you start any business. These help to identify target customers or ideal users for your product, service, app, or software. They also expose any competitive advantages you may have over other businesses. 

The business plan is the who, what, when, why, and how of your business.

It provides well-thought-out financial projections and demonstrates the business’s vitality and potential to generate profit to your stakeholders, future lenders, and investors.

9 steps to create a business plan

Creating a business plan is a critical step for entrepreneurs aiming to establish a successful business. Each section of your business plan should be thoroughly researched beforehand and documented in a clear, concise manner. While this is a high-level document, you should avoid heavy-handed business jargon, unless it’s technically appropriate. Be mindful of the varying audiences that will go through your business plan. 

Here’s a friendly and straightforward guide to help you craft a comprehensive business plan. Let’s go into each part of a business plan and its specific purpose.

Step 1. Write the executive summary

Let’s do the fun part! Summarize the key points of your business plan in the executive summary. This is the hook for your document. Doing this part right will ensure the whole document is read completely by potential investors and stakeholders until the end. Because this will be at the beginning of your business document, it sets the stage for your entire plan.

The summary provides a brief overview of your business, including both the mission statement and value proposition, and states the clearest benefit that customers receive in return for giving you their business. 

Craft the company description

Include the company description in the executive summary.

Use as many details as you can to explain your business idea, the type of business, and its legal structure (e.g., S-Corp, LLC). Here you will also want to speak to the company history (or origin story), and the products or services offered. Include information about your management team and their qualifications and credentials. If this is a single member-managed LLC, this is a good place to talk about yourself and what you bring to the company.

The stakeholders and investors want to know that those running the company are stable and trustworthy, have no conflicts of interest, and will be looking out for the welfare of the company and its shareholders.

Step 2. Analyze the market and create a plan

Thoroughly conduct market research on your consumer base and customer segments. This helps you decide who to market to and how to pursue them. To do this correctly, you must conduct a competitive analysis to understand your rivals and gather demographic details to find out who your customers are. 

You also must identify market trends that impact your industry. For example, imagine building a new search engine and knowing nothing about Google. Ignorance about your society’s business trends or innovations can hurt your reputation and impede your growth. That’s why it’s so important to stay up to date on global happenings.

If you present this information clearly in your business plan, it’ll create a picture of the current market landscape and show opportunities as well as potential roadblocks. This will demonstrate to stakeholders and investors how your business will meet the needs of the target audience you’ve introduced them to.

This is one of the more difficult parts of your business plan. If you’ve never used artificial intelligence (AI), now might be the time to open ChatGPT or Google Gemini and start plugging in questions about your target market, or use other software tools like Semrush to research your competitors.

Market research and the marketing plan

Conduct market research. If you can’t afford to have someone do it for you, try doing it yourself on a budget. From the data you receive, analyze your target market and customer segments. Gather intel about your competitors. Use this data to decide on your business strategy.

Now you’ll choose the methods for your marketing, like social media or direct mail, and develop a marketing strategy to reach the target market you identified based on your market research. If you’re using social media, identify which platforms you’ll focus your attention on. Learn how to fully capitalize on your platform of choice and decide whether you’ll only try to reach your customers organically, or targeted means such as paid ads.

Include in the documentation your pricing strategy and other marketing activities like direct mail or email marketing. 

Step 3. Define your business idea and vision

With the market research done, you’ll next want to document your business idea, putting down every detail of the processes and procedures involved in selling your product or service. Then, create a mission statement and reveal your vision for your business. Identify the type of business. Lastly, create your unique value proposition (UVP) to prove how you stand out from your competitors.

Business goals and a strategic plan

Ambition is the lifeblood of any business. To boost your momentum as you work out the kinks of the business, outline your short-term and long-term goals. Look at successful business models and chart their progress and breakthroughs, so that you can gain a sense of how to reach your business ideals accordingly. Include specific milestones — maybe ones that you look forward to for the joy of the reward, or perhaps for the challenge in achieving it — and let your plan lay down the roadwork to your goals.

Brainstorm what you want for your business and outline your goals. Next, set up milestones to use as a roadmap. Finally, include a SWOT analysis (Strengths, Weaknesses, Opportunities, and Threats). This document is invaluable. The main objective of a SWOT analysis is to help you gain a complete understanding of all the factors involved in making business decisions. By completely assessing your strengths, weaknesses, opportunities, and threats, you can make confident and informed choices.

Step 4. Detail your product or service offering

Now let’s dive into your product or service.

Describe what you’re selling and document it in detail, highlighting any unique features, patents, or intellectual property. If you’ve done a market analysis, explain how your products or services will meet the needs of your target customers.

Knowing your product or service is key and solid research will help define the strength of the product. Imagine you’re going on Shark Tank and you need to be prepared to answer any question asked by the Sharks. Your investors will be looking at your business in much the same way, so be prepared.

Step 5. Design a sales plan

Develop a comprehensive sales strategy. Explain the data behind your pricing, the channels in your marketing plan, and how you’ll reach your target customers — all these pieces work together to really get the ball rolling, and there are so many ways to get people’s attention on your business if your plan has a savvy sales plan. 

Because it’s so easy to organically market to your audience through mediums such as social media, your initial efforts should either involve creating a presence on one or more social media platforms or using alternative marketing solutions. I’d suggest you pick the platform that best represents your market and focus on that. From there, you can gauge interest and engagement and look to diversify your social media or marketing avenues further!

Step 6. Prepare financial projections

Projections help you see where you’ll be financially at points in the future and provide needed information for your and your investors’ future funding endeavors. Depending on how aggressive your funding goals are, you may want to get the stakeholders to sign off sooner than later. 

It’s been said before that if it’s not written down, it means nothing, so provide an income statement, balance sheet, and cash flow statement to demonstrate the financial stability and profitability of your business.

Step 7. Plan your operations

When you create the operational plan, you’ll detail your supply chain, production processes, and the daily operations of a smooth-running business. Make sure you identify key players and the supply or production partners involved in your business.

Operating plan

No doubt by now you’ve thought about countless details when it comes to running your business. Document every process and explain the day-to-day operations of your business in your operating plan. This document should include specific information on your supply chain, production processes, and operational workflows.

Step 8. Create a funding proposal

Now’s the time to detail your funding requirements and how the funds will be used. This is how investors and funding agencies recognize your needs and what you’re asking for to ensure future growth. In your proposal, you will need to talk about methods and strategies, a budget, and a statement of need. 

If you plan on applying for grants in the future you may want to do some deep research into how to write a grant proposal.

Step 9. Compile and review your plan

Gather all the needed sections of your business plan into one master document. Spend some time rereading, reviewing, and revising the plan to ensure clarity and accuracy. Make sure everything you’ve written is in alignment with your business goals. 

Additional business tips

Seek feedback from stakeholders

Revise your business plan accordingly. Before you finalize anything, everyone who matters to your business should weigh in and give advice and guidance, which you can use to revise your business plan accordingly. revise and document.

Regularly update your business plan 

Reflect changes in the market or in your business structure. Throughout its life, your business will change and pivot based on its progress and your response to the ups and downs. The business plan document should change with it, serving as an up-to-date guide.

Use artificial intelligence

Don’t be afraid to use AI to help you gather and create the documentation for your business. While you do need to ensure that the output from the AI is accurate with thorough fact-checking, chatbots like ChatGPT are invaluable for gathering research, creating outlines, and checking and revising your finalized documents. It’s also good for creating example documents so you don’t have to work from a blank page. 

Twenty years ago, I was looking for answers, and they were a lot harder to find than they are these days. Now, you can ask Google or Siri anything and have ChatGPT help you create a business plan from scratch that can, after a little tweaking, be used as the document that drives your business.

This simple guide to changing your personal budget over time can help you navigate those financial changes and reach your goals with confidence.

Every budget changes over time

For dedicated budgeters, changing your personal budget can feel like a real challenge. For one thing, you work hard to stay within your budget every month. Changing it can feel like cheating—even if you have good reason to switch things up.

But the longer you put off changing your budget, the harder it is to do. Small changes in your finances stack up over time. Eventually, instead of changing one or two things, it feels like you’re starting over from scratch.

Instead of letting those fluctuations build, create a plan to re-evaluate your budget over time, at regular intervals, and expect your personal budget template to change, whether you’re keeping that budget in a modern app or on paper.

By keeping your personal budget categories up to date, you’ll keep your financial goals on track, which is the primary purpose of any complete budget.

Here are four tips for keeping your budget up to date as your financial needs change.

Tip 1. Create a proactive schedule

Creating a schedule to evaluate your budget on a regular basis is a great way to stop reacting to change and start planning for it instead. Your budget won’t always need to change, but you’ll be prepared when it does.

It’s also a great way to take control of your financial goals. Checking in regularly helps you adapt to budgeting changes while keeping your eyes on the big picture and keeping those goals on track.

Finally, if you’ve combined your finances with a spouse, partner, or other family member, regular check-ins provide the perfect structure for keeping those channels of communication open.

Monthly check-ins

Check in at the end of each month to review how you did on your budget last month and evaluate the month ahead.

If your spending went over budget, a monthly check-in gives you a chance to find out why. Is there a new bill you need to account for as you move forward? Or was it a one-time expense you can easily make up for later?

If your spending came in under budget, you can decide how to use that windfall: let it roll over to the next month as a cushion, use it to pay down debt, add it to your savings, or do some of each.

Your monthly check-in is also a good time to make sure your personal budget data is up to date. Have you entered every transaction? Do your balances match what you’re seeing online?

In a budgeting app, this might only take a few clicks. If you’re keeping your budget on paper or in a spreadsheet, take the time to make sure everything adds up. You can’t check in with your budget if your records are out of date.

Once your data is caught up, make sure your spending looks right in each category. If a category seems much higher or lower than you expected, your monthly budget review is the perfect time to look into it.

Quarterly check-ins

At the end of each quarter, take these 4 extra steps to evaluate how your finances might be changing over time.

1. Review spending trends. Review your spending over the last 3 months, taking special note of any developing trends. Are any of your categories consistently rising or falling? If so, this is a good time to figure out why and adjust your budget for the next quarter.
2. Review your balances. Is the average balance of your primary bank account rising? Consider putting more money toward your savings next quarter. Is the average balance of your credit card rising? Find a way to start paying that debt back down.
3. Review your subscriptions. This is also a good time to review your transactions for subscriptions you might have stopped using. The average household spends a lot more on subscriptions than most people realize. Checking your list each quarter can put a lot of money back in your pocket.
4. Review your savings & investments. Pay special attention at the end of each quarter to your emergency fund, your retirement plan, and any other investments and savings goals you’re building over time. If you had to draw on your savings for unexpected expenses, that’s okay. Build a plan into your budget to rebuild so you’ll be ready if and when you need them again.

Annual check-ins

At the end of the year, add these final 5 steps to make sure you’re making the most of your personal budget for the coming year.

1. Review your net worth. Tracking your net worth helps you take control of your finances by understanding your trends and evaluating the overall health of your spending and saving patterns.
2. Review your taxes. Nobody likes paying taxes, but your tax return is an important tool in planning for the coming year. Use your return to evaluate any changes you want to make to enhance your savings.
3. Review your insurance coverage. Did you sell a car during the year? Or buy a rental property? Have your family’s financial needs increased enough to warrant a larger insurance policy? Or have they decreased enough for a smaller one? Review your insurance policies at year-end to see if anything needs to be updated.
4. Review your beneficiaries and estate plan. As you review your insurance coverage, remember to consider your beneficiaries to see if you need to make any changes. This is also a good time to review your will, medical directives, and the rest of your estate plan.
5. Set your financial goals for the coming year. This process should include upcoming events like vacations, weddings, and graduations as well as long-term financial planning. For larger goals, consider setting target milestones as benchmarks for your progress through the year.

Tip 2. Account for both temporary and permanent changes

Throughout all your budget check-ins, pay attention to whether changes are temporary or permanent and how well things are balancing out.

If you often have a small cushion at the end of the month, and then you go over one month because you bought a new set of tires, that’s not the kind of fluctuation that requires a major budget overhaul.

On the other hand, a new job, or even starting to work remotely, will probably warrant some adjustments to your personal monthly budget as you move forward.

Most importantly, by keeping up with your budget every month, quarter, and year, you’ll identify new trends quickly, letting you react with small adjustments throughout the year instead of getting too far off track and having to start from scratch.

Tip 3. Use calculators

As you evaluate your budget for potential changes, it can be a challenge to figure out how to make it all work. When you increase one budget category, you’ll need to decrease your budget somewhere else.

Reviewing your budget regularly makes this easier, but even two or three important changes can feel overwhelming as you try to redistribute the rest. And significant life events like a move or a new job can add up to a lot of changes at once.

Modern personal finance software and apps make the process easier with tools that can crunch the numbers for you, letting you raise and lower different amounts easily while you experiment.

If you aren’t using an app, consider using a budget calculator when you want to make changes to your budget. These online tools help you structure your budget by providing places to enter the most common personal budget categories, such as housing, transportation, education, personal items, and savings.

A good budget calculator will break these down for you into subcategories, with places to enter your own unique needs.

Although a budget calculator can’t fully replace a personal budgeting app, it’s still a useful way to experiment with redistributing your funds and determine which changes to your budget make the most sense.

Tip 4. Be sure to choose a budgeting system that can meet your needs

When you first get started with budgeting, you might keep your budget on paper or in a personal budget spreadsheet. That isn’t a bad way to start, but as your finances grow, they tend to become more sophisticated.

In fact, they should get more sophisticated.

As your finances grow and become more complex—adding things like retirement accounts, investments, or a mortgage—it becomes more important to track key performance indicators and think about your long-term income opportunities.

A budgeting app like Quicken Simplifi can help you track your finances in just a few minutes a week. If you’re used to a relatively uncomplicated budgeting system, an app that’s easy to use can help you feel more comfortable as you transition to a more flexible, comprehensive system.

On the other hand, if you’re used to a line-by-line budgeting system with different amounts for each category, software like Quicken Classic lets you work the same way, changing your budget easily whenever you want to.

Quicken plans also let you upgrade easily as your finances continue to grow.

For example, Quicken Classic Premier gives you more sophisticated ways to track your investments while Quicken Classic Business & Personal is perfect for managing investment properties or any other small business venture.

The important thing is to choose an app or software that can grow with you, letting you change your budget easily as your financial needs progress throughout your life.

An invoice is a document that outlines the history and details of a transaction between the parties involved: the buyer and the seller. An invoice helps to create trust between your business and the client, knowing everything is documented and properly recorded.

Here’s how to prepare one.

Invoices and what they look like

If you supplied goods or services for a client, preparing an invoice is easy. You create a record that exactly outlines the nature of the work or goods and at what prices or rates, and you submit it.

 A simple invoice made with Google Sheets could look like this:

Of course, this is a simple and hypothetical example, but you can see the elements of an invoice present, from the company address to invoice number, and to transaction details and amounts.

What you need to prepare an invoice

You will typically see the following items on an invoice: 

• A logo and possibly other branding, like your company colors. This is where your brand should shine.

Also add:

• Your company’s details, including:
  • Name (you or your company)
  • Address
  • Phone
  • Email
• The information of the client or business you are billing:
  • Customer or company name
  • Company address
  • Contact email 
  • Contact phone
• The invoice details:
  • Invoice number (each number should be unique)
  • Invoice date (also known as the invoice issue date) and due date
  • Invoice payment terms

The next items are important as they’ll be responsible for itemizing exactly what you’re billing the client for. You want to keep it simple but descriptive. 

• Itemize the list of the services rendered or goods provided
  • Include the quantity of each item, unit price, total amount owed for each item, and a brief description if necessary.
• The final amount due (including any tax). If this is a service charged by the hour, be sure to include the hourly rate.
  • Also, list any additional fees involved with the delivery or creation of the goods/services.
• A payment link if you have one available.

Step-by-step guide to prepare an invoice

Now that you’ve gathered all the information you need, the rest is easy!

Step 1: Choose a template

You’ll never have to create one from scratch. Not only are there quite a few included with Microsoft Word and Google Sheets, you can also find add-ons and templates online in Canva and other design and word-processing programs.  

Invoice templates save time by providing a ready-made structure, so you just fill in the details without worrying about the layout or formatting. They also ensure consistency and professionalism, making your invoices look polished and easy to read every time.

Step 2: Add your business information

Add brand elements like your company colors and logos, so it’s clear to the recipient who the invoice is from. Then, make sure you add your name or your business name, address, phone number, and email address. Go over these personal details carefully, since you wouldn’t want a case of mistaken identity to interfere with getting paid!

Step 3: Add client information

Next, add the client’s information, like contact name, company name, company address, contact email, and contact phone. Double-check this information so you don’t end up billing the wrong person.

Step 4: List products/services

Describe the work or service completed, products sold, or whatever is changing hands between your company and theirs that will cost them money. Be descriptive, but use language that both you and the client will understand.

Step 5: Set payment terms

Now, set the due date and list the payment terms. If you have your own bank link, be sure to list it, but many times, clients will have their own processors that handle paying invoices for them.

Step 6: Include invoice number

Each invoice should have a unique number — either numbered sequentially or following your own system. Just make sure no number is ever repeated to avoid confusion and missed payments.

Step 7: Check carefully for errors

If you want to avoid getting paid late, the best thing you can do is check and recheck the invoice for errors before you send it out. 

Best practices to prepare an invoice and get paid fast

Make your invoices clear and professional. Use a simple layout with easy-to-read fonts and well-organized sections. Include all essential details, like your business information, the client’s name, and a clear description of the products or services provided. Be specific with pricing, due dates, and payment terms to avoid any confusion.

Good communication with a client is key — from the beginning, clearly state your payment terms, including preferred methods and any late fees. This helps set expectations upfront and encourages prompt payments.

Make sure not to leave out key details, such as invoice numbers, due dates, or itemized descriptions. Unclear pricing can also lead to confusion, which may delay payments or result in disputes. To avoid these issues, double-check that all information is included and easy to understand.

Be thorough by reviewing your invoice for accuracy before sending it — this helps prevent errors and ensures a smooth payment process. The more specific your invoice is, the faster you’ll get paid.

Send your invoice

Now that you’ve checked for errors, turn your invoice into a PDF and send it to the client. Always keep a copy on your end for your personal records.

It’s time to get paid!