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Tamila McDonald is a U.S. Army veteran with 20 years of service, including five years as a military financial advisor. After retiring from the Army, she spent eight years as an AFCPE-certified personal financial advisor for wounded warriors and their families. Now she writes about personal finance and benefits programs for numerous financial websites.

10 Scary Facts About DriveTime

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DriveTime

DriveTime is a chain of car dealerships that use the buy here, pay here model. Essentially, the dealership finances the cars it sells directly. The approach is most commonly considered by individuals with poor credit who struggle to secure financing through traditional means, such as via a bank or credit union. While these types of services can make car ownership possible for those with bad credit, there are usually some significant catches to consider. With that in mind, here are ten scary facts about DriveTime.

1. Incredibly High Interest Rates

While DriveTime advertises interest rates as low as 7.9 percent, that isn’t what the typical DriveTime buyer receives. Instead, the “average deal” listed on the DriveTime website has an interest rate of 22.6 percent (based on data between January 2023 and April 2023). Since that’s an average deal, while some customers do get a better rate, a significant number of DriveTime buyers end up with a higher one.

One of the reasons for the high-interest rate is that DriveTime mainly targets subprime borrowers. However, subprime is classified as having a credit score between 580 and 619, with deep subprime being anyone with a score below 580. Based on data from Experian, the average deal offered by DriveTime has a higher interest rate than the overall average for subprime and deep subprime auto loan customers, which come in at 18.55 percent and 21.32 percent, respectively. Ultimately, that means DriveTime interest rates are likely higher than the average rate for people with bad credit.

It’s also critical to note that DriveTime can charge an interest rate as high as the maximum rate allowed by your state. For some states, the cap is around 36 percent, but a few states have no upper limit. As a result, you’ll need to check your local usury laws to determine the highest allowed rate in your area just to make sure you’re aware, particularly if you have bad credit.

Additionally, DriveTime will allow you to secure your own auto loan if you want to purchase from one of its dealerships. In many cases, that’s worth considering, as you may get more favorable terms.

2. Very Short Limited Warranty

When you buy a car from DriveTime, you may find it enticing that the dealer offers a limited warranty on its vehicles. However, the limited warranty only lasts up to 30 days or 1,500 miles, whichever comes first. Additionally, a limited warranty doesn’t cover every component of a vehicle, so some problems will be your responsibility to fix regardless of when they occur.

Now, local laws may offer you protection against major defects, issues of safety, or other problems. However, getting a dealership to provide services related to the implied warranty typically covered in those rules can require effort, regardless of where you buy a car. Still, since the warranty supplied by DriveTime is so brief, if you experience a problem beyond that period, you’ll have to fight for the implied warranty.

3. DriveTime May Track Your Vehicle

When you buy a car from DriveTime, it comes equipped with a GPS device. In some limited circumstances, DriveTime may use the GPS tracker to determine the location of your vehicle. One such situation could occur if you fail to make your payments, as the GPS data helps the company recover the car.

Before buying a car from DriveTime, it’s critical to understand when the company may use the device. Additionally, ensuring it’s removed after the purchase is complete is potentially wise.

4. No-Haggle Pricing Limits Negotiating

While no-haggle pricing may sound like a positive – and it certainly can be in some situations – it does mean that your ability to negotiate is potentially limited. Whether that’s problematic depends on whether the car you’re considering is being sold at a reasonable price. Fortunately, online tools can help you estimate the value of a vehicle based on its make, model, condition, mileage, and other factors, allowing you to see if the price listed by DriveTime is fair.

5. You’ll Likely Need a Down Payment

Putting a down payment on a car is typically wise, as it lets you limit how much you borrow to reduce the amount you’ll pay in interest and avoid being underwater on your loan. Still, if you’re short on cash, the idea of a $0 down payment is attractive. The issue is that only 10 percent of DriveTime customers who use the company’s financing options are eligible for a $0 down payment, meaning 90 percent will have to make a down payment.

How much the down payment is largely depends on your credit score, and anything but an excellent score typically means having to put money down. Additionally, the price of the vehicle plays a role.

6. Extended Warranty Cover Is Costly

While DriveTime offers a brief limited warranty on any vehicle, if you want to extend the coverage, that may cost a pretty penny. Precisely how much does vary depending on the car involved and the terms selected. However, some customers have been charged nearly half the cost of buying the vehicle.

Some customers also experience issues when attempting to use the extended warranty they purchase, even when the issues seem like they should be covered. Considering the price, that isn’t what most people would expect.

7. No Loaner Vehicles for Covered Repairs

If your car needs a repair that’s covered by the warranty, DriveTime doesn’t have loaner vehicles available to keep you on the road. Additionally, the rental reimbursement amount provided – up to $25.99 per eight hours of labor required to complete the repair – isn’t usually enough to cover the cost of a rental. While the exact price varies based on the vehicle selected and the person’s location, rental cars can run between $50 and $100 a day or more, so the reimbursement may cover as little as half of the cost.

8. Available Cars Can Have High Mileage

While DriveTime does sell a variety of vehicles, many are near or over the high mileage point. Typically, a car is high mileage once it hits about 100,000 miles, and that’s usually a time when higher-cost repairs and maintenance are necessary to keep the vehicle in good shape.

Now, many modern cars have plenty of life, even if they’re classified as high mileage. However, that’s potentially dependent on how well the vehicle was cared for previously. Since maintenance records may not be available through DriveTime – mainly depending on whether they were provided when DriveTime acquired the car – there’s no guarantee it was well maintained previously. As a result, if the mileage is high, issues may begin developing quickly, which can make the cost of ownership go up dramatically in relatively short order.

9. Hundreds of Complaints

While any company can experience its fair share of complaints, there are hundreds of them recorded on the Better Business Bureau website alone. Many of them discuss similar issues, such as a car experiencing a mechanical issue within a relatively short period after the vehicle was purchased. Complaints about challenges when getting repairs are also common, including when trying to use the warranty.

Now, DriveTime also has positive reviews, including many listed on Trustpilot. Still, it’s critical to understand that both good and bad experiences have happened, ensuring you make the best possible choice if you’re considering a vehicle purchase from DriveTime.

10. No Extended Test Drive

Some people prefer to take extended test drives to get a better feel for a vehicle or to take a car they’re considering to a trusted mechanic. If you’re buying from DriveTime, that’s not an option. While a traditional test drive is part of the equation, if you want your own mechanic to examine the vehicle, they’ll need to come to the dealership with you.

Additionally, most DriveTime dealerships don’t have their own service centers on-site. That means they can’t put the vehicle on a lift to make the underside of the car visible for an inspection. As a result, what you or your mechanic can inspect is limited, so even an experienced mechanic may not be able to spot every potential issue if you bring them along.

Do you know of any other scary facts about DriveTime? Have you tried DriveTime and want to tell others about your experience? Share your thoughts in the comments below.

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Is Forming an LLC the Right Move for Your Rental Property?

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If you own rental property, you may wonder if setting up an LLC for it is the best choice. Ultimately, there are plenty of benefits to using an LLC for rental property management, but there are also some drawbacks to consider. If you want to know whether an LLC is the right move for your rental property, here’s what you need to consider.

What Is an LLC?

An LLC (limited liability company) is a type of business structure. It’s one of the less complex options available, and you have the option of operating it alone, as part of a partnership, or with a group.

With an LLC, you get pass-through taxation as an option. While corporations are taxed on their profits, and then the owner’s income is also taxed, an LLC allows the profit to pass through to you without it being taxed at the company level. As a result, the earnings are only taxed as individual income, minimizing how much you’ll spend in taxes.

The Benefits of Forming an LLC for Your Rental Property

Limiting Personal Liability

The primary benefit of setting up an LLC for rental property is that it limits your personal liability. Essentially, if you own a rental property as an individual, if someone files a lawsuit relating to that property, your personal assets are at risk. With an LLC, you separate your personal assets from your rental properties, reducing your risk dramatically.

Creating Property Separation

When you’re setting up an LLC, you aren’t restricted to just one. Instead, each rental property you own could be part of its own LLC. With that, a lawsuit involving one property doesn’t inherently impact any of your other rentals, providing your broader rental operation with some protection.

Simplified Expense Management

Starting an LLC can help you access business bank accounts. Then, you can open an account specifically for your LLC and use it to manage all related income and expenses. That centralizes the related banking activities, and that can make tracking the associated spending and claiming operating costs on your taxes more straightforward than if it was done through your personal account.

The Drawbacks of Forming an LLC for Your Rental Property

Getting a Mortgage Is Harder

In many cases, buying or refinancing property under an LLC is harder than doing so as a homeowner. Lenders often have more stringent requirements related to investment or company-owned properties, so qualifying for a mortgage may not be as straightforward as you expect.

Mortgage Interest Rates May Be Higher

Along with mortgages being harder to get when they’re acquired through your LLC, the interest rate you’re charged may be higher. How much higher will vary depending on several factors, but it can be a significant difference.

LLCs Have Ongoing Costs

Operating an LLC does come with ongoing expenses related specifically to keeping the company compliant with local regulations. You’ll have to pay for annual filings. Plus, you’ll need to renew any related licenses or permits, and those can come with fees every year.

How to Decide If Forming an LLC for a Rental Property Is Right for You

Setting up an LLC for a rental property does come with benefits, but there are also downsides to going that route. As a result, you need to determine if the pros outweigh the cons in your eyes as a starting point.

It’s also wise to explore some alternatives to setting up an LLC. For example, some people may find that an umbrella insurance policy – sometimes referred to as landlord insurance – provides them with enough protection without the hassles associated with an LLC. You may also determine that another business structure is a better fit.

Ultimately, an LLC can be the best move for some rental property owners, but it may not be the ideal option in all cases. Research the paths available to you, then select the one that works for your situation.

How to Set Up an LLC for Rental Property

First and foremost, it’s critical to note that how LLCs are set up does vary by state. However, many of the core parts of the process are highly similar.

You’ll need to find an available name for your LLC as a starting point. Creating the Articles of Organization and an LLC Operating Agreement, and you might need to publish a Notice of Intent. You’ll also need to secure any licenses or permits that are required in your state and register the LLC with the appropriate state entity. Setting up a business bank account is wise, as well as updating rental leases to show the LLC as the owner.

It is critical to note that if your rental property has a mortgage associated with it, you’ll need to contact your bank to find out whether you can transfer the title to the LLC. Additionally, you’ll want to find out if there are any expenses related to making that change, such as an interest rate adjustment or various fees.

Once your LLC is set up, you may have certain ongoing costs, too. For example, many states have an annual fee requirement, and you might need to pay specific state or franchise taxes.

Do you think that forming an LLC for rental property is a smart move, or do you feel that it’s unnecessary? Did you form an LLC to manage your rental property and want to tell others about your experience? Share your thoughts in the comments below.

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Is It Time to Buy A Home? Only If You Can Pay Cash and Here’s Why

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Figuring out whether it’s the right time to buy a home is never easy. There are many factors in play, including inventory levels, mortgage rates, and more. While some of the points you’d want to consider are playing in buyers’ favor, others are working against you. As a result, buying a home now may only make sense if you can pay cash. Here’s why.

Housing Inventory Shifts

Overall, housing inventory in many parts of the United States is trending upward. As a result, it’s shifting toward a buyer’s market, which works in your favor if you’re planning to make a purchase. Plus, rising interest rates are discouraging some people from entering the market as buyers. That means less competition for those who are deciding to move forward, which can help you get a house for less than you would have spent not that long ago.

However, that doesn’t mean you’re getting access to the best possible properties. Since interest rates were once historically low, some potential sellers are holding off on moving because they couldn’t get a similar rate on another property. As a result, inventory is a bit more constrained than it would be under more favorable conditions.

Mortgage Rates Are High

While housing inventory is increasing, and that can lead to lower prices, any savings currently is largely offset by increased mortgage rates. Even if you convince a seller to drop the price, the amount you’d pay in interest pushes your cost up far beyond what you may have spent when interest rates were lower, even if the prices remained high.

Additionally, higher interest rates limit your buying power. Lenders factor in the cost of interest when determining how much you can safely borrow. As a result, the total amount the lender is willing to let you finance is less today than it was just a little while ago, and that could limit your access to properties.

Why Buying with Cash Works

If you buy a house with cash, you can benefit from the increased inventory and lower home prices without the costs associated with higher interest rates. As a result, buying now could be beneficial, as there’s no guarantee that housing prices won’t increase in the future.

Additionally, since sellers who are listing today could be particularly motivated, mainly since they’re selling in a less-than-ideal market, presenting a cash offer may lead to bigger price reductions and streamlined deals. Essentially, cash is attractive when mortgage conditions are tighter, as the seller doesn’t have to worry about whether a lender will stop a sale from moving forward. Since that’s the case, you may even come out further ahead, allowing you to potentially capitalize on the current market.

Do you think the current mortgage rates mean that you should only buy a home now if you can pay cash? Why or why not? Share your thoughts in the comments below.

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5 Things You Need to Do Now to Get a High Paying Job

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Many people want to secure a high-paying job to ensure they can easily make ends meet, but figuring out how to land one isn’t always simple. Fortunately, there are steps anyone can take to put them on the path toward a more lucrative position. Here are five things you need to do now to get a high-paying job.

1. Establish Your Expertise

In many cases, high-paid professionals are known for being subject-matter experts in their niche. As a result, spending the time to establish your expertise and cement your reputation as highly knowledgeable in your field works in your favor. It can position you as a go-to person for specific tasks or when particular types of information are required, which makes you a more valuable addition to any company’s workforce.

Overall, establishing your expertise isn’t as challenging as it seems. First, you need to excel in any related roles you currently hold, particularly when tasks align with the niche. Heading online and creating content that showcases your knowledge or establishes you as a thought leader can also work well. Similarly, engaging in forums to share your expertise as a means of helping others solve problems can work wonders.

2. Spend Time Networking

Forging professional relationships is a classic recommendation when you need access to job opportunities for a good reason. Many openings aren’t publicly advertised, meaning they’re only accessible if you have a direct connection through someone you know. Plus, by building these relationships, you may be able to secure referrals, which can elevate your position as a candidate.

Networking also has other benefits. For example, you may be able to find a mentor who can help you navigate your chosen field. Your network can also serve as a support system in some cases, providing guidance when you face unexpected difficulties.

3. Acquire the Right Skills

When it comes to career success, skill-building is critical. However, if you want to work toward a high-paying job, you need to make sure that you’re acquiring the right capabilities. While foundational skills are a must, it’s also wise to hone capabilities that relate to skill gaps in your industry. If demand for a particular skill is high, but the supply of professionals with the ability is low, it makes you a far more desirable candidate.

Along with acquiring abilities that relate to current skill gaps, try to identify the skill gaps that will exist in the near future that could prove lucrative. For example, capabilities that align with emerging technologies that have significant potential in your field can work well, as it allows you to bring something to the table that lets companies leverage these new advancements.

4. Develop Leadership Capabilities

Many high-paying jobs involve shifting into management roles. As a result, spending time developing your leadership skills can be an excellent way to increase your access to more lucrative opportunities.

Several approaches can work well for honing your leadership skills. Formal courses are an option, as well as volunteering to head up projects or any other work-related opportunity that lets you step up as a leader.

5. Take Smart Risks

In many cases, taking smart risks can make it easier to access higher-paying positions in less time. For example, when exploring new job opportunities, don’t be afraid of trying for roles that are just a bit outside of your comfort zone. In many cases, if you bring most of what the hiring manager wants to find to the table, you could still be a contender, even if you aren’t a 100 percent match. While it means you’ll face a learning curve if hired, it’s a risk that can pay off if you’re suitably dedicated to learning once you secure the role.

Another smart risk is taking a prominent role in a high-visibility project. If you meet or exceed expectations while doing so, you can elevate your reputation. Plus, it can put you on management’s radar, and that can open doors that may otherwise be closed. As a result, it could put a high-paying job within reach faster, making it worth the effort.

Do you have any other tips that can help someone get a high-paying job as quickly as possible? Have you tried any of the strategies above and want to tell others about your experience? Share your thoughts in the comments below.

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Should I Leave An Inheritance To My Children?

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Pros and Cons of an Inheritance

Many parents like the idea of leaving their children an inheritance, but they may wonder whether doing so is a good idea. Here’s a look at whether leaving an inheritance is required, the pros and cons of an inheritance, as well as whether leaving an inheritance to children is potentially a good move.

Do You Have to Leave an Inheritance to Your Children?

Legally, parents aren’t required to leave their children an inheritance. For parents with only adult children, the focus should undeniably be on living comfortably, not leaving money behind for their kids. That way, parents get to enjoy their lives and ensure their needs are met.

For parents with minor children, many would like to make sure that their kids’ needs are covered at least until they reach adulthood (or potentially longer if a child has a disability). That ensures any remaining parent isn’t overburdened by being the sole income source for the family and can decrease the odds that the children will need to adopt a lower standard of living as they grow up.

However, an inheritance of any type is entirely optional. If you consider it a priority, then you can certainly set up your financial life to make one happen. However, if doing so would cause you undue financial hardship, or you don’t think doing it is necessary – regardless of whether it’s potentially affordable – not giving them an inheritance is something you can do.

Pros and Cons of an Inheritance

Pro: Financially Provide for Your Children

Generally, the biggest reason to provide an inheritance to your children is to give them some financial security. This could be particularly important for families with young kids, school-age children, or even college-age young adults who aren’t yet old enough to handle all of the monetary side of life alone. Similarly, if a child has a disability that highly limits their ability to earn an income, an inheritance could provide financial security.

Con: Stymying Financial Independence

In some cases, a sizeable inheritance may stymy some children as they journey toward handling their own financial lives. For example, it could cause a failure to launch, leading a kid to move toward adulthood without any plan for managing their long-term monetary needs. Depending on how long the inheritance lasts, the child could then find themselves ill-equipped to take care of themselves once the money runs out.

Whether this is an issue that may or may not be a concern depends on the children’s ages, their general demeanor, the size of the inheritance, and other factors. However, it’s worth factoring in when deciding whether leaving an inheritance is wise.

Pro: Demonstrating Your Love

Many people consider the ability to leave an inheritance as a demonstration of their love and caring for their children. In this situation, the benefit is primarily emotional for the parent leaving the inheritance. Essentially, it makes them feel like they’re able to care for their children after they pass away, and that can provide some peace of mind.

Children may also deem an inheritance as a demonstration of their parent’s love for them. It’s seen as a sign that a parent cared enough to not just take care of them as they grew up but also provide support after the parent’s passing.

Con: Supporting Undesirable Behavior

Most inheritances are received as windfalls, and for children with certain undesirable habits, that could be problematic. For example, a child with a gambling, drug, shopping, or other kind of addiction that leads to potentially high amounts of spending may use the inheritance to support their habit.

At times, children may simply handle the inheritance irresponsibly, even if they don’t have an addiction. This isn’t unlikely in essentially all cases, but the chance is particularly high if a kid isn’t overly financially literate or otherwise doesn’t have a tendency toward responsible financial decisions. In those situations, the kid may overestimate how far the inheritance would go, causing them to spend it much more rapidly than a parent may expect.

Pro: Assisting with Challenging Goals

There are situations where an inheritance isn’t necessary to ensure the financial security of one’s children, but it could serve as a path toward achieving a more challenging goal. For example, it could allow a child to earn a new degree or more professional credentials that would otherwise be out of reach. Similarly, it could make homeownership or starting a business a possibility.

Con: Limiting Your Spending

In order to leave an inheritance, a parent has to spend less than they’ve managed to save. As a result, it could mean living on a restrictive budget when it isn’t technically necessary, as the parent technically has the funds available to live more comfortably.

Essentially, it can mean a parent is sacrificing their quality of life in hopes of providing their children with something better. While some parents may be okay with that choice, others may find it oppressive or that the decision causes them to have to struggle. In the latter cases, that could cause a parent to resent their children for a decision the parent made, which is never ideal.

Should You Leave an Inheritance to Your Children?

Ultimately, whether you leave your children an inheritance is a personal decision. As mentioned above, an inheritance does help your kids handle their financial burdens, which can be beneficial. Plus, many consider an inheritance a sign of your love for your children, and it’s a demonstration that your finances were in order enough to leave something behind for your family.

However, there are times when leaving an inheritance could be problematic. As a result, choosing not to provide one is an option. Just make sure that, no matter which approach you use, you have a formal estate plan outlining your wishes clearly. That way, your assets go where you want.

Do you think that leaving an inheritance to your children is a good idea? Can you think of any other pros and cons of an inheritance parents may want to consider? Share your thoughts in the comments below.

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How Inflation is Changing Our Lives and Not for the Better

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Back in 2021, inflation hit its highest point in 40 years, with prices rising by about 7 percent in December when compared to the previous year. Experts project that inflation will ease in 2023, but that doesn’t mean the impact won’t remain well beyond when the rates recede. Instead, they’ll affect the lives of many, mainly for the worst. If you’re wondering how inflation is changing lives, and not for the better, here’s what you need to know.

How Inflation is Changing Lives

Inflation typically pushes prices up, including on everyday goods and household staples. While some inflation over time usually isn’t avoidable, extreme increases create substantial financial hardships for many people, particularly lower-income households. Inflation to this degree dramatically reduces buying power and, if you’re already struggling with a tight budget, it may seem like your ability to make ends meets evaporates overnight.

Even middle-income households can feel the pinch. Often, rapid inflation isn’t coupled with corresponding wage growth. As purchasing power falls, households that were once reasonably comfortable can end up on the brink.

Retirees Are Burdened As Well

Retirees are similarly burdened. Since many older Americans live on fixed incomes, falling buying power can be catastrophic, especially if it happens quickly.

In all of those cases, quality of life diminishes. Households have to make tough choices. For example, they may have to decide between buying gas to get to work or getting a critical prescription medication. They might end up debating between buying food and covering an electric bill.

While those examples may seem extreme, they can reflect reality for a surprising number of Americans. Additionally, even if inflation rates fall, prices will remain high if inflation is part of the equation at all. While there may be some balancing, some product may keep their bigger price tags for a while, particularly if companies are trying to recoup lost profits that they experienced due to inflation.

Other Sectors That Are Impacted

There are other sectors that also see the impact of inflation. With rapidly rising home prices, first-time buyers may have a difficult time competing in the market. They may be forced to delay homeownership or might take on loans that stretch their budget too thin.

If borrowers have variable rates on loans or credit cards, the interest they pay may be heading upward. When inflation is running rampant, variable rates usually increase, resulting in larger financing charges.

Ultimately, inflation has a significant impact on most people. And, in most cases, it isn’t for the better.

Should You Worry About Inflation?

Generally speaking, worrying about inflation isn’t going to reap any dividends. However, being aware of its presence and potential impact is wise. By knowing when inflation is having an effect, you can make decisions before your budget is stretched too thin. Thus, giving you the ability to better weather the storm. Additionally, you can look for income-boosting opportunities. This could include a side gig or part-time job, allowing you to increase your earnings to compensate for lower buying power.

Ultimately, inflation won’t remain this high forever. As supply chain issues resolve, wages shift, and other changes occur, the situation usually calms notably, even if it doesn’t go away completely. Ideally, you simply want to adapt as much as possible, ensuring you can preserve your buying power until inflation becomes less of an issue.

Have you or your household been personally impacted by inflation? How did it affect your budget and financial wellbeing? Have you found a way to limit its effect on your finances that you’d like to share? Share your thoughts in the comments below.

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Penny Pinchers’ Paradise: The Crème de la Crème of Budget Planners

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best budget planners

When you need to create a budget, having a roadmap to follow makes the process easier. With a budget planner, you essentially ensure that nothing falls through the cracks. Plus, some may contain sections or tips that can help you achieve goals that didn’t seem possible previously, and many have fun elements to make the process engaging. If you’re looking for an excellent solution that will help you get your financial life on track, here’s a look at some of the best budget planners around.

Clever Fox Budget Planner

The Clever Fox Budget Planner is an excellent option for anyone new to budgeting, as well as experienced budgeters looking for a straightforward solution. It includes a spot for a monthly budget, expense trackers, monthly budget reviews, savings tracking, debt tracking, and income tracking. Plus, there are places for notes, goal setting, personal financial aspirations, and much more.

There is also a built-in pocket for loose notes or bills. There’s an illustrated user guide to help you get started and three built-in bookmarks to ensure you can get to different sections quickly. Another fun part is that this planner comes in a wide array of colors, so you can choose a hue that brings a smile to your face, making your budgeting activities feel more enjoyable.

Stress Less, Spend Less Budget Planner

The Stress Less, Spend Less Budget Planner doesn’t just provide expense tracking and planning tools; it also focuses on broader financial wellness. It offers ample structure and plenty of space to get organized, as well as mindfulness exercises designed to reduce financial anxiety. You’ll also find financial literacy tips, making this ideal for anyone who has limited experience with money management.

Along with being excellent for creating a budget, this planner has sections to track savings goals. There’s a handy holiday budget section to plan spending related to occasions like Christmas. Plus, there are areas where you can write notes related to reflection topics, which can help you learn more about your money mindset.

GoGirl Budget Planner & Monthly Bill Organizer

With the GoGirl Budget Planner & Monthly Bill Organizer, you get a financial planning book with built-in pockets to hold statements, bills, and notes. It’s a spiralbound book, too, which helps it lay flat when you’re writing. It’s also available in an array of colors, and you’ll find a variety of helpful sections inside, giving you plenty of tools to make achieving your financial goals easier.

Along with budget areas, there are monthly review and spending analysis sections to help you see if you’re on target. Every month has a calendar for simplified tracking, and there are spots to list upcoming expenses that you need to plan for in advance. You also have areas for savings and debt tracking, and there’s a spot for an annual summary that can help you use how far you’ve come.

Clever Fox Budget Planner Pro

Another fantastic option from Clever Fox is the Clever Fox Budget Planner Pro. This one stands apart because it incorporates a cash envelope system, allowing anyone using that technique to get started with greater ease. Plus, it includes all of the features you’d expect, such as expense, debt, and savings trackers, along with monthly budgets, goal setting, income tracking, budget reviews, and more.

This option also comes in a decent variety of colors, allowing you to choose one that catches your eye. You also get three bookmarks built-in, making it easy to get to the sections you’re using regularly. For convenience, there’s also a user guide, ensuring you get started on the right foot.

Do you know of any other options that should be on a list of the best budget planners available? Have you tried any of the budget planners above and want to tell others about your experience? Share your thoughts in the comments below.

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Don’t Let This Happen To You: 4 Hotel Booking Site Scams

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hotel booking site scam

When you’re preparing for an upcoming vacation or planning your business travel, booking accommodations is typically part of the equation. For many people, that means heading online to make reservations. But if you’re not cautious, you could find yourself a victim of a hotel booking site scam that costs you money, steals your identity, and leaves you with nowhere to stay when you arrive at your destination. If you want to make sure your accommodations are legit and keep your financial life secure, here are four hotel booking site scams you should know about (and how to avoid them).

1. Fake Booking Websites

One of the most widely used hotel booking site scams involves malicious actors creating fake hotel reservation websites. In some cases, they’re designed to resemble a specific hotel chain’s site. In others, the scam websites look like popular aggregators, either with their own branding or copying a legitimate site’s branding.

How difficult these fake booking websites are to spot varies. However, there are typically some clues. First, if the connection isn’t secure – such as by not having https in the URL – you shouldn’t move forward. Additionally, look for spelling errors, grammar issues, and typos, as those are more common in scam sites. Blurry logos can also indicate that a website isn’t legit, as well as a URL that’s close to – but not an exact match for – a widely-known brand’s site.

Also, when you’re searching for websites that can book you a hotel room, don’t assume that the first listing in the results is safe. Scammers may pay to get ads for their fake hotel booking sites placed near the top of the results, so a high position isn’t a guarantee of safety.

It’s also wise to take a look at the required payment types. Some websites may only use unconventional options – such as cryptocurrency or wire transfers – instead of typical credit card payments. While they may try to justify the payment options stating that they help the site offer good deals, these types of payment are difficult – if not impossible – to recover, which is why scammers prefer them over many conventional methods.

2. Fake Hotel or Room Listings

Some legitimate booking sites that allow people to list their properties to secure traveler bookings can contain fake hotel or room listings. For example, websites like Airbnb and Vrbo are potential targets for scammers. Malicious actors may create fake listings that seem legitimate, offering up solid descriptions and high-quality images, but the properties don’t exist. While sites like Airbnb and Vrbo do work diligently to remove fake listings, they may not catch them all before an unsuspecting person books the room.

One step you can take to reduce the odds of booking a fake listing is to use the internet and Google the property’s address. Many scammers use bogus addresses in the listings, such as an address that isn’t actually in use or one associated with another property. If you research the address and get street-view images other than what you’re expecting based on the listing, it’s better to book something else.

You can also do a reverse image search on any photos within the listing. That lets you see if the pictures are published elsewhere and associated with another property or if they were potentially acquired from a stock image website.

3. Bait and Switch

When a hotel booking site leads you to believe you’re reserving a specific type of accommodation only to stick you into a different kind of room that’s of lesser quality upon arrival, you could be a victim of a bait-and-switch. Essentially, an appealing option was advertised – the bait – and that information led to your decision to make a reservation. However, once you get to the hotel, you’re given a subpar alternative – the switch.

Technically, the issue only qualifies as a bait-and-switch legally if there was no original intention to give you the nicer advertised room. However, even if the issue isn’t due to intentional deception, it leads to challenges. The problem is that when you’re dealing with hotel bookings, you may not have many options for immediate recourse.

Canceling your reservation – even if it leads to a full refund – potentially isn’t plausible if similar accommodations aren’t available elsewhere. A price reduction to offset the change may ensure you have a place to stay, but it might not be the type of experience you expected, which can diminish your overall travel experience.

Avoiding actual bait-and-switch scams is possible with a bit of research. Sticking with reputable hotels with high ratings and no negative reviews that mention subpar accommodations upon arrival can help.

Issues with room changes due to overbooking are harder to avoid. Overbooking isn’t uncommon, as hotels usually book enough stays to offset last-minute cancelations or no-shows. It can also happen by mistake, such as a booking website not receiving refreshed data fast enough to prevent another reservation from going through even though the hotel is full. In some cases, reviews may indicate whether overbooking issues are common at a particular hotel, but that’s not a guaranteed way to avoid this situation, as it can happen only on rare occasions or due to an unexpected booking error.

4. Hidden Fees

Hidden fees can make a good deal on a hotel feel like a scam. Some hotel sites will advertise incredibly low room rates but not as clearly disclose the additional fees guests have to pay as part of the reservation.

Resort fees tacked on to a room’s price are a prime example, though you may encounter other hidden fees, too. If they aren’t disclosed at the time of booking, the practice is broadly considered deceptive and dishonest, even if it stays on the right side of the law.

Generally, the only way to ensure you don’t accidentally commit to a higher price than the advertised one for the room is to read the fine print. Additionally, you can contact the hotel directly and ask about any fees that aren’t part of the advertised room rate. By doing so, you can at least find out whether there are extra costs you may face, giving you the power to decide whether you want to continue with the booking or not.

Do you know of any other hotel booking site scams people should be aware of before planning their travel? Have you ever been a victim of a hotel booking site scam and want to tell others about your experience? Share your thoughts in the comments below.

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7 Weird Things You Can Sell Online

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selling weird stuff online

Most people know that the internet can be a wild and crazy place. Since it’s so accessible and diverse, it also creates opportunities for sellers who want to make a profit off of something unconventional, unexpected, or outright bizarre. Selling weird stuff online is often big business. Here’s a look at seven weird things you can sell online and why people are buying.

1. Foot Pictures

Many people are generally aware that foot pictures are sold online, and some may even joke about using them as a way to earn extra cash. In reality, this marketplace is vast, and some people can make a surprisingly solid living by selling pictures of their feet online.

Primarily, these sales go to members of the foot fetish community. Within the body part fetish community, foot fetishists are the most common outside of the more sexual body parts.

The foot fetish community also has varying interests when it comes to what they like to see in foot photographs. Some may prefer more elegant options, while others actually enjoy foot pictures where the feet are noticeably dirty. A portion prefers well-manicured feet with smooth soles and painted toenails. Others favor a more everyday, natural look.

While the bulk of the community seems to prefer images of women’s feet, there are also foot fetishists interested in pictures of men’s feet. As a result, anyone with good-looking feet could potentially make money online by selling pictures.

2. Breastmilk

Some people may be surprised to learn that selling breastmilk isn’t technically illegal. However, it’s an unregulated marketplace, and it isn’t a product that people can sell just anywhere. As a result, sellers have to turn to marketplaces that allow those kinds of sales.

There are two primary reasons why people are willing to buy breastmilk. First, parents with a newborn who are either unable to provide breastmilk themselves or have low supplies may decide to purchase breastmilk for their infant. The main driver is that research shows that breastfeeding newborns provides benefits that aren’t necessarily achieved with formula or similar alternatives. As a result, they decide to buy breastmilk to ensure their infant gets what’s recommended.

Second, breastmilk does have a fetish community associated with it. Precisely what a fetishist may do with the breastmilk can vary. Consumption by an adult may come with this territory, though that isn’t universally the case.

3. Long Hair

For anyone with long hair who’s considering making a change and cutting it short, you may be able to turn your long locks into cash. Several marketplaces will purchase hair to make wigs. Others buyers might use the hair to create something else, such as art, dolls, and more.

Generally, this isn’t something a seller can do often, as the time required to grow their hair long enough to make it sellable is significant. Additionally, there may be rules about the condition of the hair. For example, sites generally offer more for “virgin” hair – which usually means hair that’s never been dyed or subjected to chemical processes like chemical hair straightening or bleaching – as it’s typically more resilient.

Usually, these online marketplaces work one of two ways. Some sites essentially serve as the buyer, allowing sellers to describe their hair and receive a quick quote. Others let people place ads to sell their hair, giving you the ability to potentially set your own price or receive a better offer than the alternative provides.

4. Used, Unwashed Socks and Undergarments

While the idea of selling used, unwashed socks and undergarments seems odd to most, there’s actually a reasonably thriving market. Mainly, members of specific fetish communities are interested in these items, and the price they’re willing to pay often goes far beyond the cost of the attire and shipping.

The market also isn’t inherently limited to used socks and undergarments. Some fetishists may be interested in well-worn shoes. Others may enjoy unwashed workout shirts, shorts, or pants.

The exact condition a buyer wants in a used, unwashed clothing item can vary. As a result, some people selling in this marketplace focus more on creating custom orders. That allows them to wear the item until it meets the buyer’s exact preferences before shipping it to them. How these arrangements work may also vary, as some custom sellers will require an initial deposit – essentially covering the cost of the item and some compensation for their time – and take the rest of the payment once the item is ready to ship.

5. Company Online

Often referred to as sugar babies, some younger adults make money online by sharing some of their time with someone in a social context. Usually, the payer – known as the sugar daddy or sugar mommy – is wealthy and has the desire to spoil someone they find worthy and attractive. As a result, the compensation may take the form of cash, gifts, and more.

While many sugar-style relationships do have in-person components, with the sugar daddy or sugar mommy taking the sugar baby out on dates, on vacations, and to similar destinations, that isn’t always part of the arrangement. Often, the sugar baby has a significant amount of say when it comes to setting boundaries, and some prefer to keep the relationships physically distanced.

6. Toilet Paper Rolls, Paper Towel Rolls, Wine Corks, and More

Toilet paper rolls, paper towel rolls, wine corks, and similar items sell online because they’re popular for a variety of crafts. As a result, essentially anyone can gather theirs up and create a listing on online marketplaces like eBay to try and find a buyer.

Since these items are generally low-cost, they don’t sell for any incredibly high amount, even in large quantities. However, since these are items you’d typically throw away if you have the space to store them and the time to manage a listing, it could let you make money instead of sending these off for recycling or to a landfill.

Generally, you’ll be more successful if you can create a reasonably sized lot. For example, selling 50 toilet paper rolls may be easier than selling ten.

7. Oversized Pine Cones

Another item that’s popular with crafters is pine cones. Demand is particularly high when the winter holidays are coming up, as pine cones are widely used for wreaths and similar seasonable décor.

Generally, you’ll have more success if the pine cone is in excellent condition and fresh. Plus, they need to be larger than you typically find – typically coffee cup-sized or bigger – and pretty uniform in appearance.

When it comes to selling them, you have two choices. For large – but not massive – pine cones, you may have more success if you can sell multiple pine cones in a bundle. If the pine cone is gigantic, coming in closer to the size of a wine bottle, then you may be able to sell it as a single.

Do you know of any other weird things you can sell online for some fast cash? Have you tried selling weird stuff online and want to tell others about your experience? Share your thoughts in the comments below.

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