Everyone could use a little fast cash every now and then. While quick and easy money won’t make you rich, you can use money earned on the side to cover bills, pay for a big upcoming expense, or even splurge for something you really want in life.
What are the best ways to make money fast? To help you get started, we’ve put together an exhaustive and practical list of 87 ways you can make $100 or more in a hurry. With so many ideas included, you should be able to find at least a few that will help you earn some income sooner rather than later.
Keep in mind that some of these ideas will allow you to make a little bit of money very quickly, while others require a bit more time and effort, but may result in more money earned. Decide on how much money you need and how quickly you need it, and make a plan from there.
Once you’ve started making your money, don’t forget to put together a solid savings strategy.
The Best Ways to Make Money Fast
The best ways to make money fast are ones you can start on now — as in, today. Read through these top 12 money-making ideas first before you move onto the others we share later on in the guide.
- Reduce Spending by Refinancing Debts
- Earn Quick Cash With Online Surveys
- Get Paid to Shop
- Collect Cash from Microinvesting Apps
- Get paid to drive people in your car
- Deliver Food for Local Restaurants
- Rent Out a Room in Your House
- Score a Bonus with a New Bank Account
- Sign Up for a Rewards Credit Card with a Sweet Bonus
- Get your Bank and Credit Card Fees Refunded
- Rent Your Car Out On Turo
- Start a Blog and Monetize It
#1: Reduce Spending By Refinancing Debts
If you are saddled with student loan debt, mortgage debt, or any other loans where your interest rate seems high, have you ever considered refinancing? For the most part, refinancing your loans means that a lender pays off your existing loans and creates a new, single loan to be paid back at (ideally) a lower interest rate. Many choose to refinance because it consolidates your monthly loan payments, but don’t forget that this strategy can lead to huge savings over time. And remember, you’re not adding new debt when you refinance; you’re simply moving your loans to new loan products with better terms.
Interest rates are extremely low now as well, which means you can refinance today and lower your payments for years to come. Plus, money gleaned from refinancing is really just “found money” you can spend elsewhere in your budget.
How much can you save? Imagine for a moment you have a 30-year home loan for $250,000 and your interest rate is 4.5% APR. In that case, you would pay $1,267 per month in principal and interest on your loan for a total cost of $456,017. However, the same loan with a 3.5% APR would only cost you $1,123 per month and $404,140 in principal and interest payments over that time. This means a single percentage point off your loan would help you achieve over $50,000 in savings.
The exact same rule applies to student loans and other debts you have, which is why you should take the steps to refinance at a lower rate if you can.
#2: Earn Quick Cash With Online Surveys
Online websites like Survey Junkie will pay you for your opinion and you can easily earn up to $45 an hour. The average survey will pay between $0.50 and $1, and there are new surveys available each day. Survey Junkie is our favorite, but there are many other options as well. We have reviewed many survey based websites, and you can find links to reviews below.
On certain sites, if you qualify, you can even access surveys that pay over $5 each. Many of the surveys take less than 5 minutes to complete.
Check out our review of online survey sites to see if there’s an opportunity that works for you.
Learn more by reading our specific reviews:
#3: Get Paid to Shop
If you shop online, you might as well start earning something in return. Fortunately, it’s common for cashback shopping sites to pay a sign-up bonus to new users on top of the cash back you can earn for using a portal each time you buy something online.
Below are a few examples. Simply sign up and collect the cash!
|MyPoints||$10 gift card when you spend $20||Sign Up|
|Ibotta||$20 after redeeming 10 offers||Sign Up|
#4: Collect Cash from Microinvesting Apps
You may think that investing for the long-term is the only way to make money with this strategy, but you’re wrong. Scores of investing platforms and micro-investing apps will actually pay you cash just for signing up! You know it’s a good idea to start putting money away for the future, you might as well pick up some free money while you’re at it. Acorns is a great place to start. Its super easy, and its 10X New York Times bestselling author, David Bach’s favorite savings and investing app.
See below for some of the best deals.
|Acorns||$5 just to sign up!||Sign Up|
|Stash Invest||$5 welcome bonus!||Sign Up|
|Robinhood||Win a free stock for downloading app!||Sign Up|
Learn more by reading our reviews:
#5: Get paid to drive people in your car
Taxis are expensive and people (not just millennials) have embraced ride sharing apps like Uber and Lyft as a cheaper alternative.
So why not give people a lift in your free time? It’s a very easy way to make a quick $100 — and probably much more.
You will need to pass a background check and have a valid in-state driver’s license and auto insurance. The process varies by company, but is mostly painless and worth going through if the goal is to work for yourself.
Don’t have a car? No problem! HyreCar is a marketplace for car rentals prequalified to drive with Uber and Lyft!
Below are companies I recommend checking out to get started.
|Uber||700+ cities around the world||$500 – $1k sign up bonus|
|Lyft||US + a few cities in Canada||$1k sign up bonus|
#6: Deliver Food for Local Restaurants
Restaurants that get a lot of requests for food delivery (pizza joints), hire full-time employees that just deliver food.
But what about restaurants that rarely get delivery orders? It doesn’t make sense for them to hire dedicated delivery guys.
Technology has solved this problem — and it’s an easy way for you to make extra cash.
This is how it works: Uber drivers take people from one place to another. Uber Eats drivers, however, take food orders from restaurants to customers. Instead of the app pinging you that a passenger needs a ride, the app pings you that a restaurant needs food delivered.
Sign up to become a food driver with any one of these companies below.
|Postmates||Operates in 2,940 US cities||Learn More|
|Doordash||Operates in over 300 cities||Learn More|
#7: Rent Out a Room in Your House
Do you have a room (or a house full of rooms) to spare? If so, you can make some quick and easy cash by renting your extra space out. If it’s permissible in your community, you can rent a room to a boarder for $100 per week, or $400 per month – or even more if you live in a highly desirable location.
Airbnb allows people to travel all around the world and to stay in accommodations that can be considerably more affordable than traditional hotels.
Their site breaks rentals into three categories: a private room, a shared room, or an entire home. Rent out whatever you have available and collect the cash!
With over 2 million rental properties, most of which are entire homes, VRBO has established itself as a legitimate service for renters and owners alike.
If you have an extra home you could rent, VRBO is a better option than Airbnb.
Vacasa is a vacation home rental management company. In other words, you can’t rent out a spare room in your house on Vacasa like you can on Airbnb, but you can rent out your entire thome.
Vacasa is a great option to make passive income since they do all the work for you.
#8: Score a Bonus When You Open New Bank Account
Many banks are so eager for your business that they offer bonuses just for opening an account with them.
For example, Chase is popular for offering generous cash bonuses on their Chase Total Checking® account. In order to get the bonus, you have to set up a direct deposit. Other than that, you are good to go.
Check out our review on the best bank bonuses and choose an account that works for you. Also, keep an eye out for online announcements and mailers with bonus offers.
#9: Sign Up for a Rewards Credit Card with a Sweet Bonus
Some cards offer a “bonus” of $100 or more if you can meet a minimum spending requirement within the first three months. As long as you pay your balance in full each month, this is truly free money for the taking!
Take a look at our review for the best cash back credit cards.
#10: Get your Bank and Credit Card Fees Refunded
Managing finances can be hard. Recoup makes it easy to get your bank and credit card fees refunded, manage subscriptions, lower your bills, and stay on top of your financial life.
Recoup safely finds your hidden bank fees and files claims on your behalf. Fees you may get back may include overdraft fees, ATM fees, monthly account maintenance fees, and more. There are no membership fees to sign up, and you can cancel any time.
#11: Rent Your Car Out On Turo
It used to seem weird to rent out a spare room to a stranger, or to stay in a stranger’s home when you go on vacation. Thanks to the likes of Airbnb, we are no longer scared of the sharing economy.
So let me ask – how do you feel about renting out your car?
Rental car agencies (Enterprise, Avis, Budget, etc.) are awful to deal with and too expensive.
A company called Turo has disrupted the industry, just like Airbnb disrupted the hotel industry. People across the country are earning money from lending their cars out to strangers.
If you aren’t using your car for a couple of days, or if you have a spare one, simply join Turo’s free platform, list the car, and charge whatever you want for the day.
#12: Start a Blog and Monetize It
Everyone with a product or service to sell is looking for agents to sell them. Find products you feel strongly about and become a dealer. Some higher priced items can fetch a $100 cut quickly.
If you have your own website, then affiliate marketing can become even more lucrative. You can place affiliate links on your website and potentially make money while you sleep. Some products offer small commissions of a few bucks that may not seem like a lot, but the point of affiliate marketing is striving to build up consistent commissions that add up in a big way over time.
Take a look at our in depth guide on how to start a blog.
More ways to make money fast
Get Paid to Watch Pets
Pet sitting is another gig that you can take on in order to earn quick and easy money. Set up a profile using a website like Rover.com, and you can connect with people in your area who need pet sitting services or a dog walker. You get to set your own rates using Rover.com, and you can also create a calendar that blocks out dates when you’re unavailable.
While many people watch dogs using Rover.com for $20 per night, some people are able to charge $50 per night or more.
Earn $25 by Downloading the Root App
Car insurance can get expensive, and that’s annoying for those who drive with precaution and take good care of their cars.
Root is a car insurance company founded on the belief that people who are less likely to get into accidents should pay less for car insurance. Amen to that!
Better yet, the reason Root has made this list is because they will pay you $25 just for downloading their app and giving them a try! No strings attached.
Get Paid to Walk
Gigwalk is a side job that involves taking photos, picking up menus, and various other small assignments in your area. It works on an app that you download onto your phone. You receive the job orders, accept them and do the work, and confirm when the job is complete.
While you won’t earn a ton of money through GigWalk, this website can help you earn something in your spare time.
Watch Videos and Perform Online Tasks
Several online survey sites will pay you just for answering questions or watching videos. You won’t get rich with this strategy, but you can earn some easy money on the side for very little effort on your part.
Consider these online sites and how they could help you earn easy and fast money in exchange for very little work:
|Survey Junkie||Highly reputable for online surveys, redeem for cash.||Sign Up|
|Swagbucks||$10 Sign-up Bonus||Sign Up|
|Inbox Dollars||$5 Sign-up Bonus||Sign Up|
Sell Your Clothes Through Consignment Shops
You can also sell used items you no longer want at consignment shops. If you have nice clothing in particular, then consider selling your items on a website like Poshmark.com. This online consignment shop lets you sell clothing and accessories for prices you set, and you can do this entire side hustle from home with little more than an internet connection.
Sell Used Electronics
Your used electronic equipment may have value, particularly if your items are recent and in good condition. Most of us have a few old phones or laptops laying around, so it makes sense to earn some cash if you don’t plan to use them anymore.
While you can sell used electronics on Facebook Marketplace or craigslist.org, you should also check out Gazelle.com. They give you an estimate on your equipment, and the better stuff could fetch some real money. The best part is, Gazelle.com will connect you with a buyer who will provide you with money in exchange for electronics you no longer need.
Sell Unused Gift Cards
Check your wallet and your dresser. If you’re like most people, you probably have at least a few unused gift cards sitting around. Some may even be for merchants you don’t frequent, or ones you never wanted in the first place.
If that’s the case, get some cash back on them by selling them on CardPool. You won’t get the full value of the cards, but it’s better than having them sit unused. The best part is, you can sell your unused gift cards online with this site, making it easy to unload them and get cash instead.
Sell Your Stuff to a Pawn Shop
You won’t get retail price for your merchandise, but pawn shops do offer quick money for items you don’t want or need. You’ll get the most value out of jewelry, weapons, and newer electronics, but you can pawn almost anything you no longer use.
Have a Garage Sale
If you have a few days to put together a yard sale, we highly recommend it. You’ll have to do some upfront work in order to advertise your garage sale and price each of your items, but it’s possible to make a few hundred dollars or more selling old clothing and junk you no longer need.
Whatever you can’t sell at your garage sale, you should try to sell on Craigslist. Not only is this website free to use, but it’s good for larger items that may be more difficult to unload in a yard sale.
Sell Other People’s Stuff Online
You can also sell other people’s stuff online, although there is more than one way to go about it. You can buy nicer stuff at garage sales or thrift stores then sell it for a higher price point using websites like craigslist.com or eBay.com. You could even sell your friend’s or neighbor’s belongings in exchange for a cut of the profit.
Whatever you do, make sure you “buy high and sell low” and factor in the costs of shipping into every transaction. Over time, you will make money.
Sell Items On Amazon
Similar to eBay, Amazon.com may work better for entertainment media, such as books, music, and movies. A ton of people also make money via Fulfilled-by-Amazon (FBA), which involves buying items at a discount and selling them alongside other products with the retail giant.
Interestingly, Amazon will actually pack and ship the orders that come from your ads on the Amazon website in some cases. It all depends on whether you’re selling items you have possession of or whether you’re selling through Amazon FBA.
Either way, this money-making venture is worth pursuing based on the simple fact so many people shop online these days. It may take a while to start earning significant income, but your investment of time could easily pay off.
Flea Markets and Swap Meets
If you have a lot of time to kill and you have an eye for antiques and valuable items, consider heading to flea markets and swap meets to see what you can find. If you’re able to spend some time digging and checking prices for items online, you could easily find deeply discounted items you could buy. From there, you could list them on eBay or other websites at a huge markup with the goal of pocketing the difference.
Collect and Sell Scrap Metal
If you have a light pick-up truck or a decent trailer you can haul around, you can collect scrap metal from neighborhoods, building sites and junkyards, then sell it to scrap metal dealers.
Check out scrap metal prices, then do a Google search on “where can I sell scrap metal in (my town)”.
Sell Your Jewelry
Take your gold jewelry and silverware to gold dealers or jewelers and you’ll likely fetch a better price than going to the “we buy gold” storefronts populating strip malls.
You can also sell high-quality jewelry online using a popular website called Worthy. This site lets you sell diamonds, gold, and more for prices you set, and you can take care of the entire transaction online with insurance and certain seller protections included.
Sell Musical Instruments
Reverb.com is an online marketplace that lets people sell unused musical instruments they no longer need. This website is great if you have old instruments from your high school or college band years, or if you find a nice instrument in a yard sale and know you can sell it for a higher price.
Reverb.com also lets you list your gear for free.
Sell Homemade Crafts on Etsy.com
If you can make handicrafts or any homemade items people like to purchase, Etsy could be the place to sell them. In addition to home decor and homemade clothing, this website is a great place to market and sell homemade cleaning and hygiene products like soaps and lotion. The best part about Etsy.com is the fact that you can make and sell anything you want.
Pick Up Overtime at Work or a Part-Time Job
While most of us don’t want to work more hours than we truly have to, picking up overtime at work can help you earn more money over time. As an alternative to working overtime, you could also offer to contract for jobs at work that nobody else wants. Offer to work on the jobs for a flat fee that will be paid outside your regular paycheck, and your income can easily grow by leaps and bounds.
You can also consider picking up a seasonal part-time job based on summer, back-to-school, any of the major holidays or even during snow season. A couple of weeks of part-time work can easily help you earn $100 and a whole lot more.
Employee or Customer Referral Program
If your employer offers a bonus to refer new employees to them, take advantage of it and start referring. Not only will you be helping people you know connect with a job they really need, but you can also make bank.
Likewise, you should see if your employer offers a customer referral program as well. If they do, put on your salesman’s hat and start beating the bushes for potential customers.
Make a Killer Suggestion at Work
Many employers have a suggestion box, but most employees ignore it. If the company pays a bonus for workable suggestions, however, then now is your time to shine. You may get the bonus because no one else participates, but it would be even better if your employer thought your idea was good enough to implement.
Babysit in Your Spare Time
Where I live, babysitters easily earn $10 an hour. However, it’s possible you could earn considerably more than that depending on where you live and how much experience you have.
If you need help connecting with potential clients in your area, try using Care.com. This website lets you create a profile you can use to find new babysitting clients, yet you still get to set your own rates and terms.
Become a House Sitter
People who travel frequently may need someone to watch their homes for a fee. You can check local newspapers and Craigslist for opportunities. If you’d like to use a central site, MindAHome.com can provide an online source of clients.
You can also try out TrustedHousesitters.com. This website connects you with people who let you watch their homes and pets in exchange for free lodging, and it’s possible to find a long-term gig in a resort destination you would love to visit anyway.
Sell Photos Online
If you love taking photos but you don’t necessarily want to worry about finding gigs, you can also take photos and sell them online. Shutterstock.com is a giant site that allows you to post and sell your photos online for a fee. This site can be lucrative since people need all kinds of photos for their projects, ranging from background and nature photos to pictures of special events.
Work as a Photographer
If you’ve checked the prices photographers charge lately, you know they can be prohibitive. If you’re good at taking photos, on the other hand, it’s possible you could get a piece of that pie.
You might be able to photograph a special event or two for at least $100, and it’s even possible you could find some recurring gigs or find ongoing work as a photographer’s assistant at special events.
Teach an Exercise Class
If you think that the only people who work in gyms are personal trainers, guess again. If you know yoga, Zumba, jazzercise, cycling or just about any other activity that keeps people moving, there may be a teaching position waiting for you at the gym.
Not only that, but lots of other organizations may want to offer exercise classes to their clients or workers. If you can get a few gigs per week, you could easily earn easy money and get your exercise in at the same time.
Write Product Reviews for Blogs
If you’re a tech junkie and you buy a lot of new products anyway, you may be able to do paid reviews on blogs. Blogs often have affiliate arrangements with tech products and will pay for user reviews.
An alternative is starting your own blog. It can take some time to earn money from blogging, but once you start it gets much easier to see the money rolling in.
Pick Up a Bartending Gig
Do you have a knack for making popular cocktails people love? If so, you could easily try to pick up some bartending gigs. Not only will you get paid to show up and make drinks for the crowd, but you might also earn tips along the way. Bartending is a great way to earn money, but remember that you’ll likely wind up working weekends.
Not sure how to find bartending gigs? GigSalad.com is a great place to create a bartending profile others in your area can search for and find.
Join a Focus Group and Get Compensated
Universities, marketing groups, and research organizations will often pay participants in focus groups. Check with schools in your area as well as Craigslist to see what’s happening.
Also check out websites like ProOpinion for this gig, and you’ll be compensated with points each time you complete a survey. You can redeem your points for cash back, gift cards, and other rewards. You won’t earn a ton of money with focus groups, but you can use them to earn some easy money if you have extra time to spare.
Become a Session Musician
If you can play guitar, drums, keyboards, and even some wind and string instruments’ you may be able to get work as a session musician in a band or orchestra. In some cases, you can make well over $100 for just a single session.
Once again, GigSalad.com is a great place to market your musical skills online.
Become a Moving Billboard
If you don’t mind having a large commercial sign on your car – or having your car “wrapped” in ad material – you can earn up to $400 per month with FreeCarMedia.com.
The money you earn with this gig won’t necessarily come quickly since you’ll have to sign up and get approved before you get started. However, earning money with this gig is a piece of cake since all you have to do is drive around.
Move Furniture for Cash
Some people are making local moves without the benefit of a professional moving company. If you don’t mind doing some heavy lifting, you may be able to pick up $100 or more this weekend. Check the ads on Craigslist to find gigs. You can also use a website like TaskRabbit.com in order to find moving jobs and other easy, technical gigs.
Mow Grass for Cash
Even people who cut their own lawns get in a jam from time to time and need someone to pinch hit for them. They could be going on vacation or dealing with an illness or injury. Heck, maybe they just want to enjoy their summer and hire out tasks they no longer want to do.
Get Paid to Paint
Do you know anyone who needs a room or two painted? If you’re handy when it comes to painting, offer to do it for them for $100 per room plus the cost of paint. This is another gig where you may be able to find work if you market your services on craigslist.org or even Facebook marketplace. You can also look for painting gigs on TaskRabbit.com.
Spring and Fall Clean-Ups
Seasonal yard clean-ups are more involved than regular lawn cutting. This work may involve weeding flower beds, trimming hedges, raking leaves and cleaning out other debris, and you can often get paid $100 at the bare minimum.
Shovel Snow and Pocket Cash
I’ve known kids who have made well over $50 shoveling in the local neighborhood after just a modest snowfall. Just a couple of storms will get you to $100 just from knocking on doors during the late stages of the storm.
If you belong to any neighborhood or city-wide Facebook groups, you can also post your shoveling offer online and find clients that way.
Clean Houses for Cash
Cleaning houses can be extremely lucrative, and that’s true even if you’re just a one man show. You could be able to earn $50 per hour or more to clean houses in most metropolitan areas, and it’s possible you could earn more if you’re fast or extremely thorough.
Most cleaning jobs can be found through networking, but you can also post online advertisements using craigslist.org and various Facebook groups. Once you have a client or two, it’s a lot easier to pick up more gigs through referrals.
Clean Cars for Money
Some people actually like cleaning cars inside and out. However, most of us hate it. If you’re one who likes it, you can make some easy money working for those of us who’d rather not. Consider picking up a part-time gig at a car detailing shop, or try to pick up your own car detailing gigs using a website like TaskRabbit.com.
Clean Your Neighbors’ Gutters
If being up on a ladder doesn’t scare you, you can easily earn $100 or more cleaning people’s gutters. You can find work like this through landscaping or outdoor cleaning companies, but you may also be able to find your own gigs through websites like Thumbtack.com or MyHandyman.com.
Get Pools Ready for the Summer
Everybody loves having a pool, except when it comes time to set it up for the summer. If you know how to do it, you can make an easy $100 on just a couple of jobs. And when fall comes and it’s time to close them down, you can come back for round two and earn money for pool winterization.
Set Up Holiday Decorations
Everybody loves holiday decorations too, but not nearly everyone likes putting them up or taking them down. During the Halloween and Christmas seasons, you can probably get at least $100 to put up decorations then to take them down again later in the year.
Believe it or not, but Christmas light installation is big business and you can easily find gigs in this line of work using Thumbtack.com.
Become a Mystery Shopper
Mystery shoppers visit restaurants and retailers in order to write detailed reviews of the products and services they received. This is one of the most popular recommendations when it comes to making extra cash since the gig is rather easy, but you need a reliable source for jobs.
Mystery Shopping Providers Association is a great place to get started.
Clean Carpets and Make Cash
Have you ever cleaned your own carpets? If so, go rent a machine and clean someone else’s carpets for cash. This is another gig you could potentially find online just through networking, but you might also find carpet cleaning jobs through Thumbtack.com or TaskRabbit.com.
Carpool and Offer to Drive
If you have coworkers (or people who work in the area you do), offer to drive them into work for a fee. If you were able to bring in $25 per week per person, you could earn $100 with just two riders for two weeks. Try advertising in the company newsletter, or posting the offer on bulletin boards around the office.
Keep in mind that this gig works best if you work very specific hours and your coworkers also work the same schedule.
Serve On a Mock Jury
Lawyers will frequently hire out a mock jury to see what in their case is lacking. The pay can be as much as $100 for one day’s work, which is quite a bit since very little work is required on your part.
You can also become an online juror using a website called eJury. This platform will pay you a small amount of money to participate in pre-trial jury cases from the comfort of your own home. The pay is normally only $5 to $10 per gig, but the trials usually last less than an hour.
Host Walking Tours
If you live in a historic or touristy area, offer your services as a tour guide. You will need a gift for gab and some fun stories about your area, but it can pay off big time.
While you may need to become licensed to give tours in your area, the fastest way to get started in this gig is through Airbnb Experiences. You can charge for experiences just like you would if you were renting out a room in your home, and you can even set your own prices for your experience or tour.
Perform Tasks Through Mechanical Turk
This work-at-home side gig is offered through Amazon, and it has a good reputation from users. Mechanical Turk pays a few dollars per assignment, typically involving work such as writing product reviews, editing, or performing related tasks. You won’t get rich using Mechanical Turk, but you can earn money in your spare time and from the comfort of your home.
Earn Quick Money With CloudFactory
CloudFactory participants enter, collect, process, or categorize data for companies, many of which are based in various emerging markets. If you have basic computer skills and some time to spend on data entry, then this website could help you get set up to earn money in your free time quickly.
Sell Video and Photos with FOAP
If you love to take photos and have a ton you could sell, you should check out FOAP. You enter and sell your photos to commercial interests through their site. While you won’t get rich selling pictures you’ve taken on this website, the best stock photos can be sold on FOAP for $10, with 50% paid to the site.
Fortunately, the sky’s the limit with this gig. The more pictures and videos you can take and sell, the more money you can make.
Travel and Earn With PleaseBringMe
If you travel fairly often and want to get paid for bringing specific items along, you should check out this website. A travel barter exchange between individuals, PleaseBringMe asks you to perform tasks for pay that are unique to your home country.
This task may even involve bringing an item on a trip that is difficult for a local person to find. Either way, the work is easy and the money you can earn is negotiable.
Inspect Buildings with WeGoLook
As you might guess from the name, WeGoLook has you working as an inspector at large in exchange for pay. You will inspect buildings, cars, and other high value items, and you will check to see if they work and take pictures of what you find. The pay for this gig varies, but you can pick which jobs you want to take and the work is pretty easy when you’re matched to a job.
Complete Gigs on Fiverr.com
Fiverr pays $5 per job to start, but you can easily earn more and raise your rates over time once you have some experience under your belt. While jobs through Fiverr.com vary, common gigs include writing, editing, graphic design and various other editorial tasks for online publications and businesses.
Get Paid for Your Opinions with UserTesting.com
Generally speaking, UserTesting.com involves doing reviews of websites and rating them based on your user experience. If you want to earn money giving opinions and influencing brands as they market their products to customers, this is an excellent way to do just that from the comfort of your home. Fortunately, it’s easy to sign up and get started.
Run Errands in Your Town with Zaarly.com
Similar to Gigwalk, Zaarly involves running errands in your local area for out of town clients. This side gig is available in three cities for now, including Charlotte, Dallas-Fort Worth, and Kansas City. Work usually involves running errands or performing simple tasks, and pay varies.
Rent Out Your Additional Space
If someone needs temporary storage, consider renting out your basement or a spare bedroom in your home. Not only could you help someone solve their storage problems, but you could earn money for each money they use your space.
If there’s a major event in your area, you may even be able to rent out your driveway for a night or a weekend. Keep on top of events in your area and make your driveway available for overflow parking to the facility holding the event.
This same strategy can be used for a garage or a storage shed as well, so make sure to think outside the box when it comes to extra space you may have. Heck, you can even rent out your parking space and earn cash in the process using SpotHero.com.
Tutor Kids In Person and Online
Whether you know some younger kids who need tutoring or you want to start tutoring online, there are plenty of opportunities available in almost any subject. You could start by marketing your services directly to schools, but you could also place ads in a neighborhood newsletter or your local neighborhood Facebook page.
When it comes to online tutoring gigs, two websites worth checking out are Chegg Tutors and Tutor.com. Both connect you with potential clients you can provide tutoring to from the comfort of your own home.
Can you play a musical instrument? Even if you’re not accomplished, you may be able to teach novices. Offer your services at local senior citizens centers as a start, but you can also find music teaching jobs through networking in your local area.
Also check out TakeLessons.com, which lets you market your music teaching abilities to a wider audience online.
Work as a Referee
You know all those people who referee recreation sports? They’re not working for free.
If you’re knowledgeable about one or more sports, sign up at the local recreation commission. You can make several hundred dollars in a single, short sports season refereeing young kids.
Not only is this a great way to earn money on the side, but you can also stay involved in a sport you love and help kids along the way.
Provide Tech Support for Individuals and Companies
Lots of people implement common software packages but don’t have a clue how to use them. If you’re fluent with Word, Excel, PowerPoint or any number of common software packages, offer to install them and do basic training with people who will pay for your time.
Also consider providing basic tech support in exchange for pay. As easy as modern computers are, a lot of people are intimidated when it comes to setting them up. Some may pay you for simple tasks like setting up passwords, setting up email service, and downloading an antivirus software program for them so they don’t have to.
Become an Online Freelance Writer
Everything you read online was written by someone, and chances are good that the writer was paid for their work. Even novice writers can easily earn $50 or more for a basic blog post, and experienced writers can often rake in $500 or more per high-quality piece.
If you want to get started as a freelance writer, check out this post on How to Become a Freelance Writer, which is written by professional writer Holly Johnson. Johnson has been earning six figures writing from home for years, and she offers a free webinar and a paid course that can help you get started.
Interested in building a freelance career on your own terms? Check out EarnMoreWriting.com.
Become a Bookkeeper
If you have bookkeeping skills, including QuickBooks experience, you should be able to pick up bookkeeping jobs that will get you to $100 very quickly. You can do one time jobs or pick up ongoing gigs in order to keep the cash flowing in.
If you’re unsure how to get started, you can check for online bookkeeping gigs using FlexJobs.com.
Organize Offices and Make Good Money
There are some very successful people who do a terrible job when it comes to organization. Their offices are a wreck and lost documents can cost them money. If you’re a whiz at making order out of chaos, you may have a chance to organize offices for at least $100 a pop.
Try marketing your services online using craigslist.org or Facebook groups, and you may be surprised at how much work is available in your area.
Perform Light Mechanical Work
If you can do basic car repairs – changing oil, belts, hoses and spark plugs, or replacing batteries or mufflers, you can easily pick up extra cash. If you can do the repairs at the customer’s home, you can charge even more.
Do Online Editing Work
You don’t have to be a professional editor to find paid work as an editor. If you’re an English major, a writer, or a teacher, you may be perfect. You can find editing work on Craigslist that can be either one time assignments, or ongoing – your choice.
You can also find editing work online using Fiverr.com, or even using LinkedIn Pro.
Set Up Simple Websites
Can you design and set up simple websites? If so, you can easily charge $100 for each site you start. As little as you think you know, someone else knows a lot less and may see you as an expert.
Where can you find this type of gig? This is another job you can find by creating a profile on Fiverr.com, or through networking with business owners in your area.
Get a Tax Filing Side Gig
If you have strong administrative skills and know what certain tax documents look like, you may be able to offer your services to a disorganized someone who needs help organizing their paperwork for preparation.
Tax season ends April 15 but taxes don’t even need to be filed until July 15th this year. It’s not too late to pick up a side gig with a local accountant’s office or with a tax preparer like H&R Block or Jackson Hewitt if they have a branch in your area.
Do Freelance Graphic Design
There are millions of website owners who need all kinds of services, including graphic design work. If you have design skills that translate well in the online space, offer to do simple jobs for as many sites as you can contact, and use websites like Fiverr.com to get gigs and subsequent referrals. You can find jobs on Craigslist sometimes as well, but online platforms could be more effective.
Social Media Management for Individuals and Companies
Some people are social media experts while others don’t even know how to get started. With more businesses than ever realizing the value of social media, now is an excellent time to start building a career in this field.
If you’re fluent in social media, offer your services as a social media manager. You can post updates on Facebook, Twitter, and any media that are relevant to a particular business.
If you don’t know how to get started, make sure to check out an online Facebook Side Hustle Course that can help you get your business off the ground.
Stage Homes for Sale
There’s a transition that takes place between living in a house and selling it. If you know the difference, and how to make a home look like a showplace, you can stage houses for sale.
Offer your services to local real estate agents or reach out to individuals who are trying to sell their homes by owner. You can even start your own home staging company once you have enough recurring clients.
Score an Event Planning Gig
Are you good at planning parties or events? Someone might need your help. Spread the word to everyone you know, and let them know what you can do.
You may be able to find work planning corporate events, but planning small parties and get-togethers can yield some income as well. While getting your first few clients can be difficult, it’s easier to get business once you have some excellent references to share.
Create or Edit Videos
YouTube is all the rage right now, and that includes music, how-to videos, outrageous demonstrations, product reviews, and more. If you can create videos, offer your services to businesses. You may be surprised at how much people will pay you to create videos they need for marketing and other projects.
Also keep in mind that there’s a big demand for people who can edit videos and give them a professional look. This is another gig you can advertise on Fiverr.com and other online platforms once you have some experience.
Prepare Research Papers
If you have a knack for research, there are businesses and individuals who could use your services. You can find some of them on Craigslist, or offer your services to local colleges.
Also keep in mind that you can use websites like EssayService.com and EssayPro.com to find gigs in this field, including personal or academic writing.
Sell Blood or Donate Plasma
You can get $30 to $40 to sell your blood in some cases, which means that three or four donations will get you $100 in just a couple of weeks.
However, donating plasma can actually work out better than selling your blood. It takes longer to donate plasma because they will put your red blood cells back in your system. The upside is that you can donate plasma as much as twice a week and you can make anywhere from $40-$60 per donation. You can make that $100 in less than a week if you have some time to spare and you don’t mind needles.
Participate in Medical Studies
Recently, a local hospital in my area was offering $600 for people with high blood pressure to participate in medical trials. Hospitals and clinics do this all the time, and you can find local medical studies easily by searching online. Enough said?
Eat Cheaply for a Few Weeks
If you spend $200 per week for groceries, try going on a beans and rice diet or switching to other cheap eats like pasta or ramen for a few weeks. That should cut your grocery bill in half at the very least, which will net you an extra $100 in a hurry.
Even if you can eat cheaply a few nights per week, it will help. Also try not to dine out since restaurant food is always more expensive.
Get Serious about Returns
If you’ve received gifts you really don’t want – and they’re still in their original packaging – try returning them. Some retailers will take them back up to a year after the purchase date. If you are not sure where the item was purchased, a simple search online might help you figure it out.
If a retailer like Walmart or Target pops up, then you may be able to return it there without a receipt and get a gift card.
Look for Other Ways to Cut Your Spending
A typical middle-of-the-road cable TV service runs about $100 per month. Eliminate it and you’ll have an extra $100 this month, next month, and every month you can go without. Consider switching to Hulu or Netflix instead, both of which can cost less than $10 per month.
Are you a latte fan? At $4 per cup, you’ll save $120 if you give it up for a month.
If you smoke a pack of cigarettes a day or drink three beers a day, going cold turkey for a month can easily leave you at least $100 richer.
Either way, looking for ways to cut your spending will leave you with more money in your pocket. And if you make enough small cuts, you should reach the $100 threshold in a hurry.
The Bottom Line: Get Started
No matter where you are in life – or where you hope to be – earning more money is the ticket to the lifestyle you’ve always wanted. Once you start earning more money, you’ll gain control over your life in ways you never thought possible.
You might have to fail a thousand times to make it happen, but you’ll eventually realize the secret most wealthy people already know – that earning more money is your ticket to freedom.
It won’t always be easy. The bulk of successful entrepreneurs and side hustlers don’t get rich overnight. The majority of the time, you have to experiment with more than one money-making venture before you can decide your best path to building real wealth.
How to Save Money on Parent-Kid Dates
Have you ever experimented with the ideas of parent-kid dates? They’re a unique way to spend individualized, quality time with each kid! This post has some great budget-friendly kid date ideas!
Guest post from Katie of My Joy in Chaos:
As a stay at home mom of five, with a husband who works fairly long hours during the week, our individual time with the kids is quite limited.
We live in about an 1800 square foot house and it feels like there is always someone in every room. As soon as we start time with one kid, there is suddenly an avalanche of additional kids climbing on us to see what we are doing with their sibling.
As our kids started getting older we looked at the example set by my husband’s parents when they did foster care for teen boys — we take turns taking them out on dates!
Why do we take our kids on dates?
Each of our kids is incredibly unique. God has created them with individual personalities, interests, and talents. If we are always doing everything together as a family, we are bound to leave out a hobby, adventure, or food that someone likes and wouldn’t otherwise get to enjoy.
Some of our kids are also completely different in a group setting compared to the one-on-one setting. By spending a few hours focused on each child, we get to know a whole new side of him or her!
The siblings are no longer competing for attention, but rather getting to soak up quality time with just mom or dad.
What do we do on kid dates?
We don’t do all of these every time we go on a date, but our kids can typically expect 2-4 hours of uninterrupted time with mom or dad when it is their turn.
We often let them dictate the agenda unless we have an errand that needs to get done.
Their favorite choices are:
- Go out to eat
- Visit favorite stores
- Play at the park
- Visit the library
- Walk around the mall
- Run errands
How do we save money on kid dates?
Spread the dates out
We used to try and do one date per month. Back when we only had two or three kids, this was reasonable. Now that we have five kids we’ve shifted to doing them in two-month blocks. I take January and February, my husband takes March and April, and we continue to alternate throughout the year.
Spreading out for your family might mean once per week or once per month. Look at your calendar and your budget and get realistic about where you have wiggle room in both.
Sign up for restaurant deals
I’ve taken kids to Chili’s for as little as $14 with tax and tip because we had a free kids meal coupon, I ordered off the 3 for $10 menu, and we both took food home for later in the week!
Other places may send coupons for a percentage or dollar off, free appetizers or desserts, and other discounts to your email. Many also offer accumulated rewards where you earn points for eating with them and can cash them in at certain levels.
Many restaurants will also tell you what day of the week they offer free kid’s meals. For instance, every Tuesday is Kids Eat Free at Pizza Ranch. If this is what one of our kids chooses for a date then you better believe we make it happen on a Tuesday!
Choose not to eat out
Our kids have gotten pretty accustomed to dining out being part of their date but we’ve made it a part of our budget and are okay with it for now. But should there come a day when that doesn’t work, we would find other things to do. Eating out, especially for full meals, can get pricey quite quickly so looking for alternatives is a great way to keep costs low.
Look for free or discounted events
Libraries, book stores, toy stores, craft stores, and other places around your town might offer fun events for kids and families. We have done LEGO builds at Target, JoAnn, and Toys R Us that always add an extra bonus to a date.
Our movie theater often runs kid series with older movies that come back to the theater for a limited time for a discount. They usually offer a free small bag of popcorn with each ticket as well. They also have $5 Tuesday showings (all day for every movie!) and Student Thursdays.
Be honest with your child about the budget
Our kids LOVE sushi but it’s completely out of our budget to take them to a sushi restaurant for every date. Instead, we allow them one sushi date per year. This makes it a special treat, plus we can plan accordingly for the expense.
What are the best free kid date ideas?
Visit the library
Reading the same books over and over at home can get old. Hit up the library, grab a stack of books, and curl up on the couch together. Many libraries also offer board games now which would make for a fun afternoon.
Our library also offers lots of different classes and events that are free when you register. In February and March, they had multiple Harry Potter events for different ages, and around the holidays they offered craft classes to make small presents – all for free!
Go on a walk or bike ride
We can only take advantage of this idea during a few months of the year because we live in the frozen north, but try to get out and enjoy nature!
Our town is full of bike and walking paths, and now that our kids are getting older they can handle going a further distance without complaining.
Venture out then find a place to stop and talk before heading back home.
Pack a picnic
My kids adore picnics. Eating outside is an adventure that never gets old. Throw some peanut butter sandwiches and veggie sticks in a container and find a new place to explore.
The point is to spend time getting to know your child; the food is just a bonus.
Our school district offers so many free events that it’s easy to find one to attend.
Check out a concert, visit the art displays, or take in a play.
Most school sporting events will have an admission fee, but some may have free entrance depending on the school and sport.
I’m always amazed at the number of events our park district offers for no charge or with a small canned food donation.
They have done movie nights, craft events, inflatable game parties, and more – all for no charge!
If you aren’t doing dates with your kids or at least doing something with each of them on a regular basis, I want to encourage you to try.
It can be as simple as grabbing one when you head off to the store, to drop books off at the library, or while taking the dog for a walk.
We only have so many years with our kids before they are off on their own. Spending intentional one-on-one time with each of them gives us the chance to learn who they are as people, discover what’s in their hearts, and have a little fun along the way!
Katie is the wife to Micah and mom of five smushed into six years. Her goal is to help moms find joy in their everyday chaos by offering practical homemaking tips, inspiration for growing their faith, and simple family activities on her blog My Joy in Chaos.
Liveops Is Hiring 10,000 Remote Customer Service, Sales Reps
Over the course of three months, customer-service outsourcing company Liveops is filling 10,000 part- and full-time independent contractor openings in 35 states and Washington, D.C. Positions are immediately available.
“As a Liveops agent, you can work when and where it best fits your personal schedule,” CEO Greg Hanover said in an announcement, noting that the openings are a good opportunity for those who aren’t ready to return to offices or storefronts amid the pandemic.
The hiring initiative focuses on two key remote positions: customer service agent and a licensed insurance sales agent.
To meet basic qualifications, you should have:
- Experience handling inbound calls
- At least one year of customer service experience
- Computer and typing skills
- English fluency
As a licensed insurance agent, you’re also required to have life and health insurance producer licenses in at least three states that Liveops operates.
Both positions are available in Alabama, Arkansas, Arizona, Delaware, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Maine, Maryland, Michigan, Minnesota, Missouri, Mississippi, Montana, Nebraska, New Mexico, Nevada, North Carolina, North Dakota, Ohio, Oklahoma, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Virginia, West Virginia, Wyoming and Washington, D.C.
For the daytime positions, Liveops recommends you schedule at least 15 hours per week, between 8 a.m. and 10 p.m. Eastern on weekdays and between 9 a.m. and 6 p.m. Eastern on Saturdays.
Liveops pays a per-minute rate of talk time plus applicable commissions and incentives. The base per-minute rate for the customer service agent is 25 cents (potentially $15 an hour). For the licensed insurance agent, the per-minute rate is 30 cents (potentially $18 an hour) plus a $7 sales commission per call.
According to self-reported earnings on Glassdoor, Liveops agents tend to earn between $9 and $16 an hour, with a most commonly reported hourly rate of $14.
As an independent contractor, you’re expected to have your own equipment ready to go, including a telephone and laptop computer with a hard-wired internet connection. Your set-up must meet certain home-office requirements.
Still on the fence? Have any burning questions? Before you apply, you can talk directly with one of Liveops’ talent acquisition specialists at a live-streamed information session. The company holds the events twice a week: Mondays at 3 p.m. Eastern and Wednesdays at 6 p.m. Eastern.
This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.
Best Interest Rates on Cash – June 2020
Another month of slight rate drops, although bank accounts can still beat out Treasury bonds and/or brokerage cash sweep options by a significant margin.
Here’s my monthly roundup of the best interest rates on cash for June 2020, roughly sorted from shortest to longest maturities. I track these rates because I keep 12 months of expenses as a cash cushion and also invest in longer-term CDs (often at lesser-known credit unions) when they yield more than bonds. Check out my Ultimate Rate-Chaser Calculator to see how much extra interest you’d earn by moving money between accounts. Rates listed are available to everyone nationwide. Rates checked as of 6/2/2020.
High-yield savings accounts
While the huge megabanks make huge profits while paying you 0.01% APY, it’s easy to open a new “piggy-back” savings account and simply move some funds over from your existing checking account. The interest rates on savings accounts can drop at any time, so I list the top rates as well as competitive rates from banks with a history of competitive rates. Some banks will bait you with a temporary top rate and then lower the rates in the hopes that you are too lazy to leave.
- Patriot Bank has the top rate at the moment at 1.75% APY, guaranteed until 7/31/20. I wouldn’t count on anything after that, as nearly every place else is below that with most likely headed back to the ~1% APY range. There are several other established high-yield savings accounts at above 1% APY for now.
Short-term guaranteed rates (1 year and under)
A common question is what to do with a big pile of cash that you’re waiting to deploy shortly (just sold your house, just sold your business, legal settlement, inheritance). My usual advice is to keep things simple and take your time. If not a savings account, then put it in a flexible short-term CD under the FDIC limits until you have a plan.
- No Penalty CDs offer a fixed interest rate that can never go down, but you can still take out your money (once) without any fees if you want to use it elsewhere. Marcus has a 7-month No Penalty CD at 1.20% APY with a $500 minimum deposit. Ally Bank has a 11-month No Penalty CD at 1.20% APY with a $25,000 minimum deposit. CIT Bank has a 11-month No Penalty CD at 1.15% APY with a $1,000 minimum deposit. You may wish to open multiple CDs in smaller increments for more flexibility.
- Lafayette Federal Credit Union has a 12-month CD at 1.61% APY ($500 min). Early withdrawal penalty is 180 days of interest. Anyone can join via partner organization for one-time $10 fee. Note that you will have to park $50 in a share savings account while a member.
Money market mutual funds + Ultra-short bond ETFs
If you like to keep cash in a brokerage account, beware that many brokers pay out very little interest on their default cash sweep funds (and keep the difference for themselves). The following money market and ultra-short bond funds are NOT FDIC-insured and thus come with a possibility of principal loss, but may be a good option if you have idle cash and cheap/free commissions.
- Vanguard Prime Money Market Fund currently pays an 0.32% SEC yield. The default sweep option is the Vanguard Federal Money Market Fund which has an SEC yield of 0.20%. You can manually move the money over to Prime if you meet the $3,000 minimum investment.
- Vanguard Ultra-Short-Term Bond Fund currently pays 1.61% SEC yield ($3,000 min) and 1.71% SEC Yield ($50,000 min). The average duration is ~1 year, so there is more interest rate risk.
- The PIMCO Enhanced Short Maturity Active Bond ETF (MINT) has a 1.87% SEC yield and the iShares Short Maturity Bond ETF (NEAR) has a 1.83% SEC yield while holding a portfolio of investment-grade bonds with an average duration of ~6 months. Note that there was a slight drop in net asset value during the recent market stress.
Treasury Bills and Ultra-short Treasury ETFs
Another option is to buy individual Treasury bills which come in a variety of maturities from 4-weeks to 52-weeks. You can also invest in ETFs that hold a rotating basket of short-term Treasury Bills for you, while charging a small management fee for doing so. T-bill interest is exempt from state and local income taxes. Right now, this section probably isn’t very interesting as T-Bills are yielding close to zero!
- You can build your own T-Bill ladder at TreasuryDirect.gov or via a brokerage account with a bond desk like Vanguard and Fidelity. Here are the current Treasury Bill rates. As of 6/2/2020, a new 4-week T-Bill had the equivalent of 0.12% annualized interest and a 52-week T-Bill had the equivalent of 0.17% annualized interest.
- The Goldman Sachs Access Treasury 0-1 Year ETF (GBIL) has a 0.57% SEC yield and the SPDR Bloomberg Barclays 1-3 Month T-Bill ETF (BIL) has a -.04% (!) SEC yield. GBIL appears to have a slightly longer average maturity than BIL. Expect that GBIL yield to drop significantly as it is updated.
US Savings Bonds
Series I Savings Bonds offer rates that are linked to inflation and backed by the US government. You must hold them for at least a year. There are annual purchase limits. If you redeem them within 5 years there is a penalty of the last 3 months of interest.
- “I Bonds” bought between May 2020 and October 2020 will earn a 1.06% rate for the first six months. The rate of the subsequent 6-month period will be based on inflation again. More info here.
- In mid-October 2020, the CPI will be announced and you will have a short period where you will have a very close estimate of the rate for the next 12 months. I will have another post up at that time.
Prepaid Cards with Attached Savings Accounts
A small subset of prepaid debit cards have an “attached” FDIC-insured savings account with exceptionally high interest rates. The negatives are that balances are capped, and there are many fees that you must be careful to avoid (lest they eat up your interest). Some folks don’t mind the extra work and attention required, while others do. There is a long list of previous offers that have already disappeared with little notice. I don’t personally recommend nor use any of these anymore.
- The only notable card left in this category is Mango Money at 6% APY on up to $2,500, but there are many hoops to jump through. Requirements include $1,500+ in “signature” purchases and a minimum balance of $25.00 at the end of the month.
Rewards checking accounts
These unique checking accounts pay above-average interest rates, but with unique risks. You have to jump through certain hoops, and if you make a mistake you won’t earn any interest for that month. Some folks don’t mind the extra work and attention required, while others do. Rates can also drop to near-zero quickly, leaving a “bait-and-switch” feeling. I don’t use any of these anymore.
- Consumers Credit Union Free Rewards Checking (my review) still offers up to 4.09% APY on balances up to $10,000 if you make $500+ in ACH deposits, 12 debit card “signature” purchases, and spend $1,000 on their credit card each month. The Bank of Denver has a Free Kasasa Cash Checking offering 3% APY on balances up to $25,000 if you make 12 debit card “signature” purchases and at least 1 ACH credit or debit transaction per statement cycle. If you meet those qualifications, you can also link a savings account that pays 2% APY on up to $50k. Thanks to reader Bill for the tip. Find a locally-restricted rewards checking account at DepositAccounts.
Certificates of deposit (greater than 1 year)
CDs offer higher rates, but come with an early withdrawal penalty. By finding a bank CD with a reasonable early withdrawal penalty, you can enjoy higher rates but maintain access in a true emergency. Alternatively, consider building a CD ladder of different maturity lengths (ex. 1/2/3/4/5-years) such that you have access to part of the ladder each year, but your blended interest rate is higher than a savings account. When one CD matures, use that money to buy another 5-year CD to keep the ladder going. Some CDs also offer “add-ons” where you can deposit more funds if rates drop.
- Lafayette Federal Credit Union has a 5-year certificate at 2.02% APY ($500 min). Beware that the early withdrawal penalty is 600 days of interest! Anyone can join via partner organization for one-time $10 fee. Note that you will have to park $50 in a share savings account while a member.
- Pen Air Federal Credit Union has a 5-year certificate now at 1.85% APY ($500 minimum). Early withdrawal penalty is 180 days of interest. Their other terms are competitive (relatively), if you want build a CD ladder. Anyone can join this credit union via partner organization ($3 one-time fee).
- You can buy certificates of deposit via the bond desks of Vanguard and Fidelity. You may need an account to see the rates. These “brokered CDs” offer FDIC insurance and easy laddering, but they don’t come with predictable early withdrawal penalties. Vanguard has a 5-year at 1.05% APY right now. Be wary of higher rates from callable CDs listed by Fidelity.
I’d use these with caution due to increased interest rate risk, but I still track them to see the rest of the current yield curve.
- Willing to lock up your money for 10 years? You can buy long-term certificates of deposit via the bond desks of Vanguard and Fidelity. These “brokered CDs” offer FDIC insurance, but they don’t come with predictable early withdrawal penalties. Watch out for higher rates from callable CDs from Fidelity.
- How about two decades? Series EE Savings Bonds are not indexed to inflation, but they have a unique guarantee that the value will double in value in 20 years, which equals a guaranteed return of 3.5% a year. However, if you don’t hold for that long, you’ll be stuck with the normal rate which is quite low (currently a sad 0.10% rate). I view this as a huge early withdrawal penalty. But if holding for 20 years isn’t an issue, it can also serve as a hedge against prolonged deflation during that time. As of 6/2/2020, the 20-year Treasury Bond rate was 1.24%.
All rates were checked as of 6/2/2020.
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