Aldi Instacart Delivery Is Almost Here — Save $10 on Your First 3 Orders

If the idea of spelunking through your car’s cup holders for a quarter or bagging your own groceries (gasp!) is too much for you, you may still be able to score some affordable groceries from Aldi.

After testing delivery via Instacart in Atlanta, Dallas, Los Angeles and Chicago, the company announced on Sept. 18 that it would roll out the service to all its stores across 35 states by Thanksgiving.

Aldi shoppers ordering groceries via Instacart can request delivery in as little as an hour or as far out as a week after placing their orders. Instacart delivery fees vary, but a release from Aldi said that new Instacart customers can take $10 off their first three Aldi orders of $35 or more by using the code ALDILOVE.

Instacart grocery delivery typically costs between $6 and $12 for orders above $35, depending on demand. You can’t use coupons when you order via Instacart, but that’s not a problem for Aldi shoppers — the store doesn’t offer coupons.

Aldi started its delivery pilot program with Instacart in August 2017. The grocery chain, which is in the midst of an ambitious expansion plan, announced last month it would offer more fresh produce options in its stores.

Lisa Rowan is a senior writer at The Penny Hoarder, covering the retail and grocery industries.

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.

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Wendy’s Is Giving Away Its Harvest Salad Every Day Through Oct. 7

I seriously love Wendy’s. I consider it one of the healthiest and cheapest of all fast-food restaurants. I can grab a large chili and a side salad for exactly $4.55 and actually be satisfied without feeling too bad about spending money on, or eating, fast food.

Wendy’s also has a pretty entertaining Twitter account, especially when the company interacts with equally entertaining brands. Take this proposal from Burger King. And Wendy’s response to Burger King’s proposal. And Burger King’s response to Wendy’s response.

Anyway, back to the food. If you love Wendy’s — and its salads in particular — you’ll love this deal starting the first day of fall: Saturday, Sept. 22.

Wendy’s Salads Are Free With Any Purchase

To celebrate fall’s arrival (Florida hasn’t gotten the memo), Wendy’s is giving out free half-size salads with any purchase. Even better: The deal can be used more than once. In fact, you can use it once a day between Sept. 22 and Oct. 7.

That means you can have a decently sized meal every day for just a dollar.

You want some fries with that salad? It’s a dollar. You want some crispy chicken nuggets with that salad? It’s a dollar. How about a small frosty with that salad? It might be 50 cents if this promotion is still going on. But if not, then… it’s a dollar.

And about that salad (aka the Harvest Salad): it delivers a mix of sliced chicken, applewood-smoked bacon, diced red and green apples, dried cranberries, brown sugar walnuts and feta cheese, topped with an apple cider vinaigrette. That sounds pretty delicious (and somewhat healthy) to me!

To score that salad, simply download the Wendy’s app and create an account. Then use it every day until you just can’t eat any more salad — or Oct. 7. Whichever comes first.

Jessica Gray is an editorial assistant at The Penny Hoarder. She’ll be having some chili with that salad.

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.

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My TaxAct.com Review: Convenient, User-friendly, and Affordable

Compared to the ink-on-paper approach to tax preparation, any online tax service should be a huge improvement.

If you’re old enough to remember the bad old days, you’ll know what I’m talking about.

Back then, doing taxes required spending a few evenings every spring with a stack of paper forms and a calculator.

Though we didn’t have to fight off mastodons on the way to the post office to mail in our taxes, in other ways you may have thought it was the dark ages.

If you got confused filling out your return, for example, you’d consult the tiny type in that year’s newsprint-style tax guide, or else wait for the public library to open so you could ask someone a question.

Now, every time I enter data online and let the software do all the calculations and populate all the right forms, I am grateful for the Internet age.

Not All Conveniences Are Created Equal

Despite the instant improvement an online tax service will offer, you should still spend a few minutes choosing the best service for you, paying attention to issues such as:

• User interface: Some online tax services are easier to use than others. For example, using a service that saves re-usable information such as Social Security numbers or previous years’ returns can save a lot of time.
• Price: Advertised prices and real prices are two different things with many tax services, especially those who advertise free services.
• Personal preference: A certain tax service may simply jibe better with your way of thinking. Someone else may rate the service poorly, but if you like it and it’s accurate, go with it.
• Reliability: Inaccuracies can get you into trouble with your state’s department of revenue or the federal Internal Revenue Service. If you enter your data correctly, your service should guarantee accurate output.

About TaxAct.com and Its $100K Guarantee

Those standards led me to the subject of this review, Taxact.com, which backs its accuracy with a $100,000 guarantee.

Not only does the site guarantee the accuracy of its calculations, but it also guarantees it will maximize your possible tax return (or minimize what you owe) as it works from the data you enter.

A guarantee this big got my attention, so I looked into TaxAct.com more closely to see how it delivers on this promise and how it stacks up with the other leading services.

First, let’s be clear about the guarantee: The site will not pay you $100,000 if it makes a mistake.

However, it will reimburse you up to $100,000 for fines or other losses you incur as a result of a mistake or an oversight in your returns.

The site would also refund the fee you’d paid to use its services in such a case.)

The specifics become clear in the site’s fine print.

How Does TaxAct.com Compare to Competitors?

Reading the fine print can also tell you a lot about the actual price and services a tax site provides.

On the IRS’s website, for example, you can find a long list of online tax services that meet the government’s requirements.

Any of them should get the job done.

Many advertise free returns.

But which one should you choose?

Sites offering free returns often mean they will not charge you to file an IRS 1040-EZ form, which is the equivalent of the single page, fill-in-the-blank return you can use if you have the simplest possible tax situation.

If you need to use an actual 1040 form, you’d like to file a state return (which you definitely should do), or if you need to include basic exemptions or credits, you’re introduced to a fee structure before being allowed to continue.

So as you compare tax services, look beyond the introductory rates at the real prices you’d pay for returns.

You can also simplify the process with our federal income tax guide to assess your needs.

The Real Fees for Using TaxAct and Other Services

Since H&R Block and TurboTax have emerged as industry leaders along with TaxAct.com over the past decade, we’ll use them as models for comparison.

All three sites offer basic services such as simple state and federal returns at no charge.

However, each site also has a “deluxe” or “premium” plan you’d need to buy for more complicated returns.

TaxAct’s Deluxe plan offers a cheaper alternative for federal tax returns.

In 2018, the service cost $25 while the other two services charged $39.99.

All three services charge around $37 for state returns.

All three sites also offer special packages for freelancers and business owners.

At each level of service, TaxAct.com offers the lowest prices.

This seems simple enough, right?

Like a lot of tax-related issues, though, you can uncover a more complex reality by digging a little deeper.

For example, the threshold at which you would need to upgrade to a Deluxe or Premium plan differs for each of these three leading services.

So, if one of the services’ free plans can handle all your needs, you can save by avoiding the upgrade altogether even if it does not offer the lowest price.

Because taxes are individualized, you can’t always easily identify “the best deal” and recommend it to a large audience.

To find out whether you should upgrade, you’ll need to consider your specific needs.

For example, if you have student loan interest you’d like to deduct, H&R Block’s free plan will allow it while the other two services will not.

How TaxAct.com’s User Experience Compares

TaxAct.com, H&R Block, and TurboTax all became leaders in the tax service industry by consistently offering high rates of customer satisfaction.

It’s no surprise, then, that all three services offer user-friendly tools, and that each service improves its interface each year.

These leading services no longer require you to enter numbers into fields that resemble a tax form.

Instead, they ask simple questions then use your responses to make calculations and populate the actual tax forms.

So how do you choose a leader?

In this case, it can come down to something as simple as personal preference, and your personal preference matters more than mine.

I could tell you whether I prefer an iPhone or an Android, a Nikon or a Canon, or a Toyota or a Honda.

But chances are you’d still stick with your favorite.

Tax services are becoming the same way.

This is not to say you couldn’t possibly have a problem.

Any kind of website can experience technical issues, which is why all three of our leading services offer help through phone and chat support.

The TaxAct Guarantee: Reliability and Accuracy Matter… a lot

Originally, tax software primarily offered convenience.

As online and downloadable tax services have evolved, they’ve started to offer something more: knowledge.

State and federal tax laws change from year to year.

Sometimes they change a lot.

While software still can’t replicate a human tax preparer’s ability to strategize and anticipate the effects of upcoming changes, they have come a long way.

If you’re an individual taxpayer or even a small business owner, the right software or online service may provide enough expertise for your tax returns.

Some people can’t afford a professional, but they can manage to pay a software fee, which is why accuracy and reliability matter so much.

Naturally, you’ll have to be sure you’re entering data correctly.

If you say you earned $21,000 last year and you actually earned $121,000, you’ll have a problem that did not originate with the software.

But if you do your part entering numbers correctly, shouldn’t you expect your software to apply its knowledge accurately?

Of course. TaxAct.com, along with other industry leaders, excels, which is why TaxAct can offer to pay up to $100,000 if it does not maximize your refund or minimize your liability.

Once again, this guarantee applies only to the data you enter.

If you forget to report $3,000 in work-related travel expenses, you can’t blame the system for not writing off those expenses.

Bottom Line

Reliability, accuracy, and price matter because, when you choose an online tax partner, you may be making more than a one-year commitment.

As you enter data for yourself, your spouse, and each of your dependents, wouldn’t it be nice if you could reuse that information from year to year?

If you liked the service you use this year, for example, you could simply log in and update your income, expenses, and deductions next year, making the entire process even more seamless.

It’s not a huge deal to start over from scratch with a new service.

If your tax situation changes and you need a more complicated set-up, you’ll be better off switching services.

But the fewer sites that have your family’s Social Security numbers stored in their servers the better, right?

So as you decide which service to use, think about whether you’d like to continue using the service in the foreseeable future.

The post My TaxAct.com Review: Convenient, User-friendly, and Affordable appeared first on Good Financial Cents.

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13 Marketing Tips SEOs Can Learn From PPC Managers

As an SEO expert, you know what it takes to get your content ranked high in search engine results.

Depending on how good you are at SEO, sometimes the only results displayed higher than yours are those from PPC campaigns.

SEO and PPC are considered to be two very different marketing approaches. But these strategies are more similar than you think.

The biggest difference between SEO and PPC is you’re paying for your PPC campaigns, as the name implies. Driving organic traffic to your website with SEO is free.

While keywords are obviously important to PPC managers, they don’t need to focus on search engine optimization as much because they’re bidding on those keywords.

If they’re willing to pay enough, their search engine ads can generate hits and clicks, even if their headlines aren’t extremely SEO friendly.

Using SEO to drive website traffic is much more competitive. To gain an advantage over your competitors, you can use PPC principles to improve your SEO strategy.

After all, your search ranking is useless if it doesn’t generate clicks.

These are the top 13 marketing tips SEOs can learn from PPC managers. By combining principles from these two strategies, you’ll be able to drive more traffic to your website.

1. Write headlines that generate clicks

As I said before, the basic principle behind SEO is getting a high search ranking. This is obviously very important for your traffic.

But is that high ranking translating to clicks and traffic? It should.

The first page of search engine results generates 75% of all clicks.

If you’re getting ranked high but not seeing a spike in traffic, there is likely a problem with your headlines. You need to learn how to increase clicks by mastering your headlines.

There are common elements in titles that encourage clicks.

Even if your headline has SEO friendly keywords, it doesn’t mean people will click on it.

PPC managers are masters at writing great ad copy. This helps improve their click-through rates and increases their quality scores.

But with SEO, you don’t need to pay for ads to generate clicks.

You just need to make slight adjustments to your SEO headlines that will make them more enticing.

For example, add a number to your headline. You may not think this is good for SEO because people probably aren’t searching for numbers. But this strategy generates clicks.

Headlines containing numbers are 36% more likely to get clicked. Using odd numbers improves CTR by 20% compared to even numbers.

2. Come up with new keywords

Don’t be broad with your keyword research.

Get specific. Use long-tail keywords to generate more relevant search results.

Using long-tail keywords will also make the search results less competitive. For example, let’s say your company sells backpacks.

If that’s the only keyword you’re using, it’ll be tough to get ranked high and generate clicks.

But if you’re using long-tail keywords, e.g., “red waterproof hiking backpack,” you’re appealing to a very specific audience.

Yes, the search volume for those words will definitely be lower. However, you won’t be competing with as many websites.

Now you’ll get ranked higher and increase your chances of getting more clicks.

It’s also important to use new keywords based on seasons, promotions, or the audiences you’re trying to target with specific campaigns. Don’t use the same keywords over and over again expecting to get great results, especially if the keywords are highly competitive.

3. Monitor keywords from your competitors

Your keyword research shouldn’t be conducted in a vacuum. You need to know what your competition is doing.

PPC managers use this strategy to help them see which keywords are the most competitive. It allows them to adjust their bids accordingly.

But it’s important for you to implement this strategy when you’re focusing on search engine optimization as well.

Try using tools such as SpyFu to help you with your keyword monitoring:

With SpyFu, you can search for specific competitors, and the platform will analyze their websites’ content.

You’ll be able to identify exact keywords they’re using.

Based on this information, you can make the necessary adjustments. If one of your competitors is always getting ranked higher than you, maybe it’s time for you to start using some of their keywords.

You can make those keywords even better by turning them into long-tail keywords, which I’ve already talked about.

4. Track your leads with UTM parameters

Where are your leads coming from?

I’m hoping you’re not relying solely on organic search traffic to get more visitors to your website. You should be running other campaigns as well.

If you see a spike in website traffic, you can’t assume it’s coming from your improved SEO efforts. But how can you know for sure?

By creating custom links with UTM parameters, you’ll be able to distinguish your search engine traffic from the traffic generated by other campaigns.

For example, you can set up a unique link for each one of your email marketing newsletters. Have a different link for all your social media posts.

If you’re running ads on other websites or getting affiliate links, those should each have a custom URL as well.

Now you’ll be able to identify the sources of your traffic. You’ll see which headlines, ads, platforms, and promotions are yielding the highest results.

PPC managers do this to see if it’s worth it to continue paying for specific ads on websites. But you can use it to figure out if your SEO strategy and keywords are working.

5. Optimize keywords for mobile searches

When it comes to your keyword research, you need to keep different devices in mind.

That’s because more than half of all website traffic comes from smartphones and tablets.

In this day and age, you need to keep an eye on the most important mobile trends of the year.

Mobile devices changed the way people search.

What do I mean by this?

The same person using their smartphone to search for something will enter different terms than they would if they searched using their desktop or laptop computers.

In fact, 79% of all Google keywords rank differently in mobile searches. And 47% of the top 20 positions are ranked differently on mobile devices compared to desktops.

You need to identify these differences and adjust your keywords accordingly to accommodate the needs of mobile users.

6. Retarget your prospects

Let’s say someone visits your website because of your SEO efforts.

That’s great. But now what?

You need to understand how people search, navigate, and convert. Just because someone lands on your homepage through organic search traffic doesn’t mean they’ll convert.

Maybe they’re just browsing or scanning a blog post. After that, they’ll leave your website.

That’s why you need to learn how to increase conversions with retargeting strategies.

Retargeting campaigns can get these visitors back to your website in the future.

You can take the lead from PPC managers and run ads on other websites.

When the user lands on your site in the first place, you can use cookies to track their browsing behavior. Now they’ll see your ad when they visit another website.

Change up your ads so they don’t keep seeing the same ones over and over again.

7. Run A/B tests on your landing pages

You need to make sure your clicks are driving conversions.

If you can create landing pages that have high conversion results, you’ll be able to make more money whenever you increase your site traffic with SEO.

Right now, you might be satisfied with your conversion rates. But how can you be sure the pages are optimized for the highest conversions?

You can’t know for sure unless you test and measure the results.

Use A/B testing to change different elements on your landing pages to see whether you can improve those conversion rates.

Test things such as CTA placement, images, CTA wording, sizes, value proposition, and color schemes. You can basically test every element on each landing page to come up with the best design to drive conversions.

SEO focuses on site ranking and traffic. PPC managers focus on clicks. But both SEOs and PPC managers ultimately need to prioritize conversions.

8. Target people based on their locations

PPC marketers use geotargeting campaigns to limit their search results to prospective customers within a specific area.

Google AdWords lets you set this up:

When it comes to your SEO strategy, you can still target people based on their locations, even if you don’t want to pay for ads.

Just create specific landing pages for different areas.

For example, let’s say your business has locations all over the country. Each location should have its own local website.

This will increase the website traffic for people within those areas whenever they search for something relevant to what you’re offering.

You can even create custom landing pages based on these locations. For example, the needs of consumers in Boston will differ from those of consumers in Dallas when it comes to buying clothing in December.

9. Showcase your competitive advantage

In a list of search results, your website will appear next to the websites of your competitors. Even if you’re paying for ads, other sites will pay for ads that will show up on the page too.

How can you stand apart from your competition?

Write SEO-friendly headlines and meta descriptions that show your value proposition. Just look at these ads that come up when you use Google to search for plumbers in Seattle:

What’s going to make users pick one business over the others?

The top advertisement offers free estimates, which is very enticing, especially for plumbing services.

Another company has financing options available to help its customers pay off expensive services.

Take a look at the ad in the middle. To stand out from the crowd, they tell you that all their employees are background checked and drug tested.

Honestly, I thought this was odd to mention, but it definitely helps them stand out from the other ads on this page.

10. Consider the timing of your ads

If you’re going to take your SEO campaigns to the next level and start running PPC ads, you need to know when to run them.

For example, B2B brands would want to run their ads during normal business hours. That’s when their target audiences will be searching for their products and services.

You don’t expect a prospective B2B client to be searching for a service at 2 AM on a Saturday night.

However, if you’re a global B2C ecommerce shop, you’ll probably want to run your ads at all times.

11. Include a CTA

When it comes to your SEO efforts, obviously you want to be descriptive in your headlines and meta descriptions to target specific audiences.

But you need to come up with a way to be informative while still encouraging an action.

Ultimately, you want people to click on your website. PPC marketers understand this, so they craft ads with keywords that include CTAs.

Just look at the differences in conversion rates based on CTAs:

As you can see, including the word buy in your headline won’t lead to conversions.

Even if you think certain words are SEO-friendly, you need to recognize the impact those keywords will have on your clicks.

12. Pre-qualify your leads

It seems PPC campaigns are usually better than SEO efforts at pre-qualifying leads.

That’s because each click from a PPC campaign is costly. If that click doesn’t generate money, it’s a waste of valuable marketing dollars.

Even if your SEO efforts lead to a high search ranking, it’s not helpful if your leads aren’t qualified. While these clicks aren’t necessarily costing you money as they would if they were PPC ads, you should still approach this the same way as you would a PPC campaign.

For example, headlines and keywords run by B2B brands will differ from those run by B2C brands.

Let’s take a look at the search results for “escape rooms for big groups:”

Right away, there are certain keywords in these headlines and meta descriptions that pre-qualify leads.

One of the results advertises corporate events. If you’re planning a birthday party or a similar event, you probably won’t be clicking that link. But if you’re a manager looking to schedule a team building event, that option would definitely appeal to you.

Another way to pre-qualify leads is to use pricing. If people aren’t willing to spend $30 per person at a minimum, they won’t click that link in the middle of the page.

What qualifies as a large group? Well, the business at the bottom of the page says its escape rooms are for groups larger than 12 people.

If you were planning an event for eight people, you’d look elsewhere.

Now that the leads have been pre-qualified, they’ll be more likely to convert when they visit the websites.

13. Create custom landing pages

This tip is related to the topic of traffic sources.

For example, let’s say a PPC advertisement is placed on the sidebar of another website. This ad is promoting a specific product.

The landing page for this ad should be specific to the product or service being promoted. You wouldn’t want to take that user to your homepage because it would lower your conversion rates.

Use this strategy for your SEO efforts as well.

You’ll want to set up different landing pages based on what your prospective customers are shopping for, such as men’s or women’s clothing for your ecommerce shop.

Conclusion

In theory, high search rankings should result in more website traffic.

But if you’re not getting the traffic you’re expecting based on your ranking, it’s time for you to re-analyze your SEO efforts.

While they may be optimized for search engines, that’s useless if Internet users aren’t navigating to your website. It’s in your best interest to take advice from marketers who specialize in generating clicks.

You can learn a lot from PPC campaigns.

Even if you don’t want to pay for ads, you can apply the same principles to your SEO efforts to increase your website traffic.

How do you apply PPC concepts to your SEO strategy?

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Saving for Tomorrow versus Living for Today

One of the hardest experiences of moving toward middle age is that I have to watch my parents enter old age. Those two people have been the absolute rocks in my life for as long as I can remember. I remember them clearly at the most active and vibrant times in their lives, when they seemed infinitely strong and their energy seemed infinitely boundless. Now they’re growing old together and while they still get around and still travel and still do a lot of things, they don’t get around as fast as they once did and, eventually, they won’t be around any more. Words can’t describe how much I’ll miss them when they’re gone.

I know quite well that the same thing will eventually happen with my own children. They’ll reach middle age and they’ll look at Sarah and myself and think similar thoughts to themselves. They’ll remember Sarah and I running around in the park with them and playing soccer with them and going to taekwondo with them and having seemingly endless energy to work all day and make meals and clean the house and spend time with them and all of the stuff we do now and that I remember my parents once doing. And, inevitably, we will have lost a step, as humans do.

And they’ll wonder, as I sometimes wonder about my own parents and frankly about myself, whether or not I should be living life to the absolute fullest today instead of saving for tomorrow.

There are so many things I could do in my life right now if I simply stopped saving for the future. We could go on some downright amazing trips. We could spend our entire summers abroad until the kids are out of school. We could live in an utterly amazing house, much larger and nicer than the one we live in now. There are so many amazing, wonderful things that we could do today if we weren’t saving for tomorrow.

Let’s say that I did decide to go that route. What would I really gain out of it?

I’d gain some wonderful memories of experiences with my family. I’d have a little bit bigger house to live in with a bigger yard. I’d probably be able to check some things off of my “bucket list.”

Here’s the thing, though. I already have a ton of wonderful shared memories with my kids and my wife and my parents. I already have a plenty big house to live in. I already have checked a bunch of stuff off of my bucket list.

Sarah and I have a little “bucket list” of places on Earth that we someday want to visit together, flung all across the globe. The truth of it, though, is that those trips would just serve as a backdrop for her smile; it really doesn’t matter too much to me where we are as long as we’re there together. Why not spend a week or two on a road trip together for a few hundred bucks rather than a trip halfway across the world for thousands? Maybe we’ll go on a big trip once in a while, but the magic of any trip is the people you’re with and the serendipitous things that happen. I’ve been on countless trips in my life and the most unforgettable vacation I’ve ever had in my life was a camping road trip to Yellowstone. Why? It was the people I was with and the serendipitous moments. The “once in a lifetime” moments can happen anywhere as long as you’re with people you care about.

I live in a perfectly nice house. Sure, it could have nicer furnishings. Sure, it could be bigger. But what exactly would I do with a bigger home office? Would that suddenly make me have better ideas? Of course not. Would that make even a whit of difference to how I actually pass my days? Not really, except I’d probably have to spend more time on property maintenance.

The whole “save for tomorrow or live for today” dichotomy just seems silly to me. I live for today every single day of my life, and I save for tomorrow pretty hard, too.

I live for today every time I put down some relatively unimportant task and instead go to the park with my kids and toss a frisbee around with them.

I live for today every time I sit down with one of my kids and really listen to what they’re saying.

I live for today every time I get lost in my work or lost in a great book.

I don’t need a flashy trip to live for today. I don’t need a huge house to live for today. I don’t need to do something dangerous to live for today. I have a ton of things in my life right now that are well worth living for today.

That’s the secret.

I live for today when I get lost in someone else’s eyes or in their story.

I live for today when I get so engaged in a task that I lose all track of time and place.

I live for today when I create something.

I live for today when I feel love or when I give love without strings attached.

I live for today when someone’s creative work takes my breath away.

None of those things require you to spend tons of money or to walk away from your responsibilities or to destroy your future.

But, still, why save for tomorrow?

I save for tomorrow so that the stress stays away. I don’t want to have to worry about money for any reason.

I save for tomorrow so that when I’m the age my parents are at right now I don’t have to worry about where the money is coming from.

I save for tomorrow so that if God forbid something happens to me tomorrow, my children and my wife are well taken care of and never have to really worry about much of anything.

To put it simply, I save for tomorrow so I can live for today with almost no worry.

Do you want to live for today? Here are a few things you should try.

Tell someone you love them, out of the blue, right now. Send someone a text, or just turn to them and say it.

Write a note in your own handwriting to someone who really had a positive impact on your life, thanking them for that impact.

Do something to get your blood pumping in your veins and get yourself just a little out of breath, then see how it feels.

Eat your favorite snack, but do it slowly and enjoy each little flavor.

Watch the sun go down on the horizon and marvel at each color change.

Take a big task on your plate, turn off all distractions, and just get lost in the work, focusing on it and doing it well.

Take a long shower and scrub every inch of your body.

Watch something that makes you laugh.

Read something that makes you think.

Hear something that makes you cry.

You’ll have a pretty amazing day if you do all of those things.

Save for tomorrow, and you’ll be doing it with low stress and preserve your ability to do those things for the rest of your days.

Save for tomorrow? Live for today? I’d say do both.

The post Saving for Tomorrow versus Living for Today appeared first on The Simple Dollar.

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9 Ways to Start Fixing Your Debt — Even If You Can’t Afford the Payments

Asking Someone for a Favor? Five Tips to Write a Better Email Request

Like many liberal arts majors, I didn’t waltz right into a good career when I graduated from college. The challenges of a real-world job hunt hit like a tidal wave, and I scrambled to find a foothold.

It was during this time that I learned how important it is to be able to write a good email asking someone for a favor. I needed help, but I needed to ask for it in ways that weren’t annoying, desperate, or rude.

I’m now much further along in my career, but I still periodically find myself asking things of my mentors, friends, former co-workers, and even complete strangers. Over the years, I’ve learned a lot about how to write emails in a way that gets a positive response.

This article will detail some best practices when it comes to making a request by email, with advice mined from my own experience as well as from experts in email communication. I’ll focus on a situation in which you’re asking for career advice from someone you don’t know that well, but the principles can be applied widely.

Always keep in mind that it’s easier to ask for a favor from someone who’s in your social circle, or from someone for whom you’ve already done a favor in the past. That’s why it’s so important to build and maintain a good social network and to treat others the way you want to be treated.

• Related: The Power of Good Relationships, and Thoughts on Building and Maintaining Them

Provide Value

Sure, you’re the one asking for a favor, but that doesn’t mean you can’t be additive to the person you’re reaching out to. This advice is admittedly tricky to follow if, say, you’re a new grad and you’re emailing a vice president at a big company. What can you possibly offer them?

Maybe it’s a gesture as small as offering to buy them a coffee, beer, or lunch should they meet up with you. That might not seem like much, but it demonstrates you’re willing to put some of your (likely meager) resources on the line for the chance to pick their brain. People respect that.

Alex Birkett, marketing manager at HubSpot, has written extensively about the importance of providing value when asking for favors. He writes that providing value could mean “many different things: friendship and favors, the draw of future reciprocity, cold hard cash, stimulating conversation, an introduction, etc.”

Not all of those suggestions will be applicable in every case, so you might have to get creative.

• Bad example: “Can we chat about my future sometime? I swear it will be worth your while.”
• Better example: “I’m just starting out, but I’d love to buy you a coffee and pick your brain.”

Be Confident and Credible

Just because the person you’re reaching out to is more established than you doesn’t mean you have to act meek. People don’t respond well to tentativeness or false modesty. Act like you’re deserving of their time, and they just might give it to you.

That being said, confidence without credibility won’t get you far. You’ll want to quickly establish that you have done your research on this person and that you have something specific to talk about. “‘Why should I care?’ is the tacit question hovering in most people’s minds as they open an email, especially if it’s from someone they don’t know,” writes Jocelyn K. Glein in her book Unsubscribe: How to Kill Email Anxiety, Avoid Distractions, and Get Real Work Done. “That’s why establishing your credibility early on in the message is critical.”

• Bad example: “I know you probably never respond to people like me, but I figure I’d take a shot in the dark. I’d really love to hear from you so I can tell you more about myself.”
• Better example: “I’m very interested in your industry (I interned in the same field sophomore year), and I’d be very excited to learn more about it from someone like yourself. I look forward to potentially talking further.”

Use Some Flattery (But Not Too Much)

Flattery is scientifically proven to generate favorable reactions, even when it’s insincere. You don’t want to be obnoxiously sycophantic, but it makes people feel good when you show that you have an appreciation for what they do.

Just make sure to be genuine about it. You can get a reply from someone even if you’re disingenuous, but I firmly believe that people will identify with true passion. I can’t prove that, but it’s my impression as the sender and receiver of many of these emails.

Just make sure you don’t go straight from obvious, fake flattery to demanding something of the person. Inc. magazine columnist and social media maven Dakota Shane hates it when “people reach out with artificial flattery (complimenting an article I wrote, etc.), and then they immediately dive into their canned pitch or ask for a favor.”

• Bad example: “Your work has changed my life and your recent article completely blew my mind! You are a legend! Can we meet up?”
• Better example: “I’ve been a fan of your website for a long time and I try to implement some of your strategies in my own life. I’d love to buy you a coffee sometime and get your advice.”

Be Realistic

No one’s going to give you exactly what you want after a single email, and it would be rude to ask for too much all at once. It’s much better to start small. People generally want to help those who are just starting out, but they’ll be less inclined to do so if it seems like you’re going to hoover up a lot of their time.

Part of being realistic is providing an escape clause in all of your emails. This means giving the person a chance to politely decline your request. Great on the Job author Jodi Glickman suggests using the line, “If you can’t help out, I completely understand.”

• Bad example: “I see you have a job opening at your company that I’m interested in exploring. Can we talk sometime? Can you help me get an interview?”
• Better example: “Your company is the exact kind of place I’d like to work at one day, so any advice you have on breaking into the industry would be tremendously valuable to me. But if it’s not a good time, I completely understand.”

Be Concise

One thing you learn when doing sales for a living is that bigger is not always better. You might think the recipient of an email wants to hear every detail of your life story, but trust me: they don’t. They’re busy, and email is a time suck. You will greatly increase your odds of a response if you get right to the point.

Try to add some value, show your interest, give a compliment, ask for help, and sign off.

• Bad example: [Writes out an entire resume, makes multiple jokes, asks six questions, rambles for three paragraphs.]
• Better example: [Plainly states the reason for the email and quickly makes a case as to why the recipient should respond. The whole thing is no more than five sentences.]

Summing Up

Treat these emails like you’re a salesperson selling a product. The only difference is that you are the product. You want to come across as respectful, unobtrusive, and useful. If you remember to be honest, additive, and concise, you’ll go a long way toward convincing people they should help you.

Don’t be afraid to reach out for help. We all do it, and those of us who get asked for a favor by polite people usually treat it as an honor. So, get out there and email! As the old cliche goes, “You’ll never know if you don’t ask.”

More by Drew Housman: 

• How to Find a Fulfilling Career and Change the World, According to Oxford Researchers
• New Grads: Seven Ways to Stand Out During an Entry-Level Job Hunt
• Take That, 9-to-5: Two Brooklynites on How They Make a Living as Professional Dog Walkers

The post Asking Someone for a Favor? Five Tips to Write a Better Email Request appeared first on The Simple Dollar.

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What Questions Should You Ask During a Job Interview? Experts Weigh In

So it’s the night before your big job interview. You’ve done your due diligence researching the company, the position and the people conducting the interview. But how will you respond when the hiring manager asks, “Do you have any questions for me?”

This portion of the job interview is a fantastic way to make a lasting final impression and to set you apart from the other candidates — or it can blow your chances of receiving an offer. We asked some hiring managers for the best and worst questions candidates have asked them during the interview process. Here’s what they told us.

The Best Questions to Ask a Hiring Manager

The cream of the crop: Our hiring managers say these are the insightful questions that stood out. They recommend any candidate use them during their next interview.

“What are the company's most important goals for the next year?”

One thing hiring managers look for when interviewing a candidate is whether that person will be a good fit within the team. They want to determine if the candidate is thoroughly committed to helping the company accomplish its goals, says Jason Patel, founder of Transizion, a college assistance and mentorship company.

“What this question shows is that even though the person has not been hired, they will be invested in helping your company accomplish what it wants to get done,” he says.

“Do you mind showing me around the office before we conclude the interview?”

Asking for an office tour is a great way to prolong the interview, says Peter Yang, founder of the resume-writing service ResumeGo. “It guarantees that extra face time” with the hiring manager outside the confines of the interview room, he says. Plus, it’s an opportunity to make an impression on the staff and potential coworkers.

“What have been your company’s biggest successes and failures this year, and what have you learned from them?”

There’s a significant caveat to this question, Patel warns. A company might not want to disclose its failures, especially if it’s in a highly competitive industry. So the interviewer might be more open to talking about the business’s successes.

“When you add that qualifier ‘What did you learn from them,’ it shows that the person wants to learn from past mistakes and help the company as it evolves,” Patel says.

“For people who have previously held this position, what are the top three skills that make someone successful?”

Christopher K. Lee, founder and career consultant for PurposeRedeemed, advises candidates to ask this question if they know the job is an established position. He says interviewees can learn what skills or behaviors are the “non-negotiables” their future bosses expect them to have.

“What are your customers’ biggest pain points, and how will I be involved in solving them?”

Companies strive to solve problems for customers, Patel says. If the candidate is already interested in doing that, they’ll most likely be invested when times get tough.

“You want all of your employees to provide legitimate value for the customers,” he says.

“What’s the No. 1 concern you have of me as a candidate at this time?”

Ask this question at the end of the interview, recommends Michael Sunderland, the managing director of Full Stack Talent. “It lets the hiring manager open up about any perceived weaknesses they see in that person as a candidate, and it lets the candidate address those concerns right then and there,” he says. It’s always easier to erase any doubts when the people deciding your fate are still in the room.

The Worst Questions to Ask a Hiring Manager

Asking a bone-headed question at the end of the interview is a quick way to crush your chances of getting the gig. So whatever you do, don’t ask these questions.

“How many vacation days do I get?”

Asking about benefits and job perks too early in the hiring process reflects poorly on a candidate, Patel says.

“The thing with that question is that it inadvertently — or intentionally — shows that you aren’t so much focused on helping the company; you’re only interested in the perks,” he says. Patel recommends not asking questions about benefits until the employment offer is in your hands. That’s when it’s time to negotiate.

“What does this company do?”

“I think some of the worst stuff I’ve ever been asked is things they should already know,” Sunderland says. As a director of a tech staffing and recruiting company, most of his clients are not fond of candidates asking about basic information that can be found on the company’s website.

But for one particular client, it’s a major pet peeve. Sunderland recalls one interviewee asking, “What does this company do?” The client was “flabbergasted” and made sure the job seeker was not going to get the gig

“What clinical skills do I need for patient interactions?”

This is a thoroughly valid question — for a health care job. But Lee encountered this question while interviewing a candidate for a B2B tech startup that sold software to pharmacies.

He says that a lot of college grads do the “spray and pray” method of applying to as many jobs as possible and come in not knowing which one they’re discussing. “I wouldn’t say that was the only instance I’ve had where someone doesn’t know what the organization does,” he says.“It was just a little more blatant.”

“What’s your company’s mission?”

Startups and businesses founded within the last 10 years proudly display their mission statement and company story on their websites, Patel says. You are setting yourself up for failure if you’re going into an interview without reading the company’s mission statement, their story or the job description.

“If you’re not doing your research beforehand, what makes [the company] think you’ll do your research once you have the job?” he says.

“Do you have drug testing?”

Bill Fish was interviewing a candidate for a sales management position at an online marketing company about eight years ago. The candidate seemed to check all the boxes: He had a great resume and looked like a solid fit overall. When it came time for the candidate to ask Fish any questions, he only had one on his notepad.

When Fish replied “no,” the candidate exhaled in relief. But his job prospects had gone up in smoke.

“When my kids are old enough to do job interviews, I’ll be sure to pass along that story so they don’t do something that stupid,” Fish says.

Matt Reinstetle is a staff writer at The Penny Hoarder.

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.

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10 Employee Benefits by Top Companies That Put Real Dollars In Your Pocket

Stop charging customers for phones they already own, Citizens Advice tells mobile contract providers

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Mobile phone users are being ripped off by up to £38 per month because providers continue to charge them for a phone they already own once their contract ends, says Citizens Advice.

The charity is calling for mobile providers to stop overcharging customers by taking payments for handsets once their contract is up.

Currently, most providers do not tell customers when their contract ends, which means many end up paying more than for phone services than they need to.

• Mistakes on mobile bills cost Brits £64m

Research from the charity shows that four million mobile phone customers are being charged for phones they already own.

It says that on average customers are overcharged £22 a month, but this could be as high as £38 for high-end phones such as an iPhone 7 or Samsung Galaxy.

Customers are often unaware they are being charged for handsets after their contracts have ended, as their provider has not told them they have paid off the phone and only need to continue paying for calls, texts and data.

Gillian Guy, chief executive of Citizens Advice, says: “It is unacceptable that mobile providers are knowingly overcharging customers for phones they already own.”

The telecoms regulator Ofcom is currently consulting on plans to end the practice, and is due to publish plans in March 2019.

Ofcom is proposing that communications providers send a notification to their customers when they approach the end of their contract.

However, Citizens Advice says this doesn’t go far enough to help consumers.

Citizens Advice wants these companies to make the pricing of mobile services and phones more transparent by separating out the cost of mobile service and the phone.

Ms Guy comments: “We’ve heard a lot of talk from government and the regulator but now we need action. Other companies have already stopped doing this so we’re looking for these three major providers to follow suit.”

She adds: “In the meantime, consumers should check their phone bills to see if they can save money with a SIM-only contract or upgrade to a new phone.”

Bundled contract rip off

Bundled deals, where the cost of the handset and network service is priced as one, are the most common type of mobile contract and typically last two years. The charity says these deals often come without any information on the effective cost of the phone.

According to the charity, bundled mobile contracts are confusing consumers, with most (55%) assuming it is the cheaper option.

• Save on your handset: Get a refurbished phone and ditch your pricey contract

Citizens Advice found that in over 700 different bundled contracts, consumers pay more in almost three out of four of cases than buying a phone outright.

The charity says vulnerable people are more at risk of being overcharged. Older people are twice as likely to be charged for a phone they already own longer than 12 months, which could cost them on average £264.

Splitting the cost of phone and service could cost consumers more

Price comparison and switching service uSwitch says Citizens Advice is being “short-sighted” as splitting the cost of the phone and the service, typically called ‘flexi-tariffs’, could leave consumers at risk of paying more.

Flexi-tariffs separate the cost of the airtime and the handset by running different contracts for both, so once the device is paid off customers automatically just pay for the cost of the minutes, texts and data.

After comparing the cost of a SIM-only deals, uSwitch found that this could be costing consumers up to £69 extra a year for airtime alone.

• Beware the hidden cost of 118 calls

Ernest Doku, mobiles expert at uSwitch, says: “Citizens Advice is right to call for more transparency in how much mobile users pay for their contracts, but championing tariffs that split the cost of the phone and the service still risks seeing consumers paying considerably more than they should for their airtime.

 “The intention behind these deals to prevent consumers from paying twice for the same handset is commendable, but they are certainly not the best value deals available, even within the same network. Switching to a SIM-only deal can still offer significant savings over paying for the airtime part of a package, especially given how much data costs drop from year to year.

“Ofcom’s proposals to introduce notifications telling consumers that their deals are coming to an end is a far more practical and speedy way to address some of these problems.”

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• Mistakes on mobile bills cost Brits £64m
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When a pension is (not quite) child’s play

When is a pension not just a boring pension? When it helps to introduce your child to the concept of long-term saving

There are many ways parents, grandparents, godparents and family friends can help secure a child’s financial future.

There’s a lump sum towards a house deposit, a savings account, a Junior Isa (Jisa) or even Premium Bonds.

• The best Stocks and Shares for Junior Isas

Such gifts are incredibly useful, but some parents are adopting an even longer-term view. One they believe will encourage their youngsters to take more control of their finances into adulthood – that is, setting up a pension.

Up to £2,880 per year can be paid into the pension of someone under 18, and it is estimated that over 60,000 children now have one, according to figures from HMRC.

And some parents are starting early – Nathan Long, senior pensions analyst at Hargreaves Lansdown, says 7% of all pension accounts it sets up for children are for newborns.

The fact is that a pension remains one of the most tax-efficient vehicles available. Kate Smith, head of pensions at provider Aegon, explains that although children don’t pay tax, they still benefit from tax relief. “Once the money is paid in, the pension provider claims back £720 tax relief from the government. So that £2,880 is worth £3,600 once it’s in your child’s pension fund.”

Kay Ingram, director of public policy at independent financial advisory firm LEBC, says parents have long used pensions for kids to avoid a large inheritance tax (IHT) bill. This is because you can give away up to £3,000 a year without it being liable for IHT.

The major drawback of setting up a pension for a child is that the money cannot be accessed until they are approaching retirement. Currently, pensions can be accessed from age 55, but this age will go up as the state pension age changes.

Matthew Walne, director of Santorini Financial Planning, adds: “I would take a step back and ask why you would recommend a pension for someone who can’t take capital and income from it until at least 58, which could be even later depending upon state pension age increases. They are likely to have much greater needs for capital beforehand, such as a deposit for a house.”

• The best funds to boost your children’s savings

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‘I deeply regret not starting a pension until my 40s’

James (who wishes to remain anonymous), is a self-employed architect from London. The 58-year-old says he regrets not starting a pension sooner.

“I deeply regret not having started my own pension until I was in my 40s. Looking back, the main reason was because I had no idea how to and I didn’t have an independent financial adviser (IFA) to help me.

“I didn’t want my own children to make the same mistake, so on their 18th birthdays I made a one-off contribution into a pension plan.

“I figured that putting a plan in place, which they could add to later, was as valuable to them as the actual gift of the £500 paid in. The hassle of setting up a pension had been taken away from them.

“I could have just given them the money, but I thought cash was likely to be spent on fast cars or socialising, whereas the pension would give them greater long-term benefit.”

However, what makes a pension so inaccessible is also what makes it appealing, particularly if you have concerns about your child spending money that you’ve put away in a savings account.

Ms Ingram explains: “Savings accounts set up for children allow them to access the money when they reach 16 and spend it from the age of 18. With the best will in the world, 18-year-olds will not be able to deal with a large sum of money. The potential for it to be wasted is huge.”

She adds: “An 18-year-old will not have the same priorities as the parent or relative who for years has put that money aside.”

The role of pensions in financial education

Installing an appreciation of delayed gratification is only half the appeal, though. Alan Chan, a chartered financial planner at IFS Wealth and Pensions, says parents are using their child’s pension to help show the power of long-term investing.

He explains: “Using apps such as 7Imagine means children can actually see their investments rising and falling each year.

“By the time they are working and investing themselves, it will no longer be alien to them. Using an app also provides a great visual plan, in fact IFAs use a more detailed equivalent when modelling their clients’ finances.”

Faith Archer, a money blogger at Much More With Less (Muchmorewithless.co.uk), believes a pension is a great tool to help your child understand concepts such as compound interest.

child-saving.jpg

She says: “Talking to your children about pensions is a brilliant introduction to compound interest, and something that can help them avoid debt disasters from credit cards, overdrafts and mortgages in later life. Showing just how big a small amount can grow, when invested for a long time, is mind-blowing.”

Scott Gallacher, a chartered financial planner, adds that if your child sees their investment fall and then rise it also helps with the concept of risk.

“In terms of educating children about the long-term power of investment it could potentially be huge if the child sees how much better their pension fund has performed versus a savings account. It always shows the risks of investment if the pension fund falls in value.”

Where to get your child’s pension

If you have an IFA already helping with your own pension, they should be your first starting point.

If cost and time is an issue, and you are sourcing it yourself, Ms Ingram and Ms Smith say it’s worth considering a stakeholder pension. Providers include Aviva, Legal & General (L&G) and Virgin Money. A stakeholder pension has its charges capped at 1%.

A more expensive, and higher-maintenance, option is a Junior Sipp (self-invested personal pension). You can invest directly into shares and investment funds through providers such as AJ Bell, Interactive Investor (Moneywise’s parent company) and Hargreaves Lansdown.

Ms Smith says: “The trick is to make sure you invest in growth stocks and shares with a low charge. You can afford to take risks because your child is investing over several decades.”

Whatever option you choose, making regular payments (even if it’s once a year) means your child’s investment will benefit from pound cost averaging. This is because drip-feeding money into an investment reduces the risk of a stock market fall wiping out a large lump sum and smooths returns over time. So when the stock market falls and share prices come down, for example, your contribution will enable you to buy more shares at a lower price, priming you for bigger returns when markets bounce back.

• The best cash savings accounts for children

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The writer’s story: ‘I’ve set up a pension for my child’

Samantha Downes (pictured above), the writer of this feature, says: “I’m a 47-year-old freelance financial journalist from Stansted, Essex. I have two daughters, aged nine and five. My oldest daughter, Imogen, was lucky enough to get £250 from the government to put into a savings account, a child trust fund (CTF).

“My youngest, Isabella (pictured above, third from left), didn’t get the £250, but instead I set up a Junior Isa (Jisa) for her when she was six months old.

“Last autumn, when Isabella started school full time, I went freelance and had to take stock of all my finances, including the amount I was putting aside for my children. Having older nieces who are about to access their own savings accounts has made me wary of putting more lump sums into the children’s CTF and Jisa.

“So I set up a Junior Sipp for Imogen. The idea is that as the money grows, or doesn’t, we can explain to Imogen why and how.

“I want to empower her to manage her finances – it’s a life skill she needs to learn. I wish I had done this a couple of years ago. When my youngest turns seven we will do the same for her.”

 

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The best cash savings accounts for children

You can open savings accounts for your kids as soon as they’re born. Here are our picks of the best deals for young savers

Parents who are starting to build up savings for their kids and want easy access to the money, or don’t feel investing is right for them, should consider the best cash options available.

Savings rates on kids’ accounts are by and large better than those offered to adults – although some accounts come with caveats and rules that you should be aware of before you dive in to them.

Here are the Moneywise best buys for kids’ cash savings.

• When a pension is (not quite) child’s play

Best for lump sum deposits

Our top pick for a lump sum is the Santander 123 Mini current account. It pays 3% on balances between £300 and £2,000. The account is available to all kids from new born to age 17, although parents or guardians have full control of the account until the child turns 11. The account can be opened online, in branch or by post. Unlike the adult equivalent, the account does not charge a monthly fee.

If you’d like to get them started at an earlier age, a good option may be the HSBC MySavings account.

This account pays 2.75% on balances up to £3,000 and 0.5% on everything above this. Kids can have an account from the age of seven up to 17. When your child turns 11, HSBC offers them a current account too; you must open this account in-branch, and the initial deposit is just £10, with no maximum.

• The best funds to boost your children’s savings

Best for monthly saving

If you’d like to make monthly deposits, the best account is the Halifax Kids’ Regular Saver. You can save from £10 to £100 a month for a year, and the account pays 4.5% on balances up to £1,200. It can be opened online or in-branch. However, one drawback is that it’s only available to children aged 15 or under.

Alternatively, the Saffron Building Society Children’s Regular Saver can be opened in branch or by post and pays 4% interest. You can pay in from £5 to £100 a month for a year, up to a maximum balance of £1,200.

Again, however, this account is only available to children aged 15 or under.

As both these accounts only last for a year, make plans to seek alternatives after 12 months to ensure a decent rate of interest is still paid on your child’s money.

• The best Stocks and Shares for Junior Isas

Best Cash Junior Isas

If you’d like to save tax-efficiently for your kids, a Cash Junior Isa (Jisa) is worth considering. While adults have an annual £20,000 Isa allowance, children are allowed to save £4,260 tax-efficiently in a Jisa in the 2018/19 tax year. Parents and relatives can contribute to a Jisa on top of their own Isa allowance.

The current best buy for Cash Jisas is the Coventry Building Society Junior Cash Isa. This account pays a handsome 3.5% interest on balances from £1 up to a maximum of £31,468. This means you can contribute the maximum tax-free amount for just under seven years (assuming the Jisa allowance doesn’t change in the future). Withdrawals are permitted after the child’s 18th birthday. Once your child reaches this milestone the cash will remain tax free for life. This account can be opened online, by post, in-branch or by phone.

An alternative account is the Nationwide Smart Junior Cash Isa, with an interest rate of 3.25%. This account can be opened with a low initial deposit of just £1 online, by post or in-branch. It also has a £31,468 limit, which means if you plan on contributing the maximum annual amount each year it would be wise to start the account before your child turns 11.

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The best Stocks and Shares for Junior Isas

Find out how Junior Isas work, plus our pick of the main providers

A Junior Isa or ‘Jisa’ as it’s known is a tax-efficient account that works in the same way as a regular Isa, but it’s specifically aimed at under-18s and has a lower annual allowance.

Parents or guardians can contribute up to £4,260 into a Jisa in the 2018/19 tax year, compared to £20,000 in an adult Isa.

• When a pension is (not quite) child’s play

Jisas are held in the child’s name and are managed by parents or guardians until age 18, when management transfers to the kid and it rolls into an adult Isa with the bigger £20,000 annual allowance.

Patrick Connolly, a chartered financial planner at financial advisory firm Chase De Vere, says: “The biggest danger is that at age 18 the child can access the money and spend it however they want. This could mean that money put aside to pay for university fees or mortgage deposits could potentially be squandered on foreign holidays and fast cars.”

But don’t let this put you off saving; just ensure you teach children the importance of understanding their finances so they don’t go crazy with the cash when they turn 18. Mr Connolly says: “Younger generations face many challenges which weren’t encountered to anything like the same degree by their parents and grandparents. This includes excessive university fees and greater job insecurity, while the prospect of buying a house will seem like a distant dream for many younger people.

• The best cash savings accounts for children

“This is why it is really important for parents to start saving as soon as possible. Parents and other family members are far more likely to be able to afford to put aside a modest monthly amount over 18 years then to try and access a much larger lump sum at the time the child needs it.”

There are two type of Jisa: Cash, and Stocks and Shares. Cash is usually considered lower risk because you are paid interest and, in the event of the savings institution going bust, your money should also be protected by the Financial Services Compensation Scheme (or equivalent scheme if held with an overseas bank).

However, while the value of investments can go down as well as up, over the long term the stock market is more likely to beat cash returns – particularly given the long investment period children have to weather any financial storm.

We outline how the major Stocks and Shares Jisa providers compare in the table below, while the best Cash Isas can be viewed here.

• The best funds to boost your children’s savings

How Stocks and Shares Junior Isas compare

Provider	Website	Minimum investment	Annual platform fee (i)	Buying and selling funds (per deal)	Number of funds you can invest in (ii)	Transfers alllowed?
AJ Bell	Youinvest	£25 a month (no minimum lump sum)	0.25% (maximum £5 a quarter)	£1.50	6,300	Yes
Alliance Trust Savings	Alliancetrustsavings.co.uk	£50 a month or £50 lump sum	£3.33 a month	£1.50	2,000	Yes
Bestinvest	Bestinvest.co.uk	£50 a month or £100 lump sum	0.40%	Free	"Most funds"	Yes
Charles Stanley Direct	Charles-stanley-direct.co.uk	£50 a month or £500 lump sum	0.25%	Free	2,200	Yes
Fidelity	Fidelity.co.uk	£50 a month or £1,000 lump sum	£2.08 a month for under £7,500 invested or 0.35% over £7,500	Free	2,500	No
Hargreaves Lansdown	Hl.co.uk	£25 a month or £100 lump sum	0.45%	Free	"Most funds"	Yes
Interactive Investor	ii.co.uk	£25 a month (no minimum lump sum)	£22.50 quarterly	£10 a trade	Over 3,700	Yes
The Share Centre	Share.com	£10 a month (no minimum lump sum)	£14.4 (£1.20 per month)	£7.50 for deals less than £750, otherwise 1%, 0.5% (min £1) for regular investing	Over 1,600	Yes
Vanguard	Vanguardinvestor.co.uk	£100 a month or £500 lump sum	0.15% capped at £375	Free	73	Yes

(i) Individual funds will also come with their own ongoing charges (OCF). (ii) Information provided by Money.co.uk, July 2018. Source: All other information sourced by Moneywise directly from provider websites, July 2018.

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